1373 32nd Ave SW · Florida Ridge, FL 32968

$299,900

3 bd · 2.0 ba · 1,236 sqft · SingleFamily public records · 52 Days on market

Built 1984 9,147 sqft lot Est $294k · at est. ↓ 25% since listing

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.9/30.0
• ARV discount +6.6/15.0
• DSCR +4.2/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completely renovated! Welcome to this beautifully maintained 3-bedroom, 2-bath home perfectly situated on a desirable corner lot. This property features a recently updated kitchen with modern finishes, fresh interior paint that gives the home a bright and inviting feel, and a brand-new roof for added peace of mind. All new appliances! The functional layout offers comfortable living spaces ideal for both everyday living and entertaining. This home is move-in ready and a must-see!

Key facts

• Updated kitchen
• Corner lot
• New roof

Tags

• CORNER LOT
• UPDATED KITCHEN
• NEW ROOF

Property features AI

Finance

• Other: Living area reported as 1,236 (source: appraiser)
• Financial info: No investor or income/expense details listed
• HOA & community: No HOA information listed

Exterior

• Parking: Attached garage with 1 covered space; Driveway
• Security: No security features listed
• Utilities: Public water; Septic tank sewer; Electricity connected; Water connected
• Home design: Single family residence; One story; Resale property; Faces east
• Construction: Frame construction; Shingle roof; Built as a single-story dwelling
• Exterior features: Not waterfront; No waterfront features

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Three bedrooms on the main level
• Flooring: Tile; Vinyl
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No additional interior features listed
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry located in garage

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $31 ($374/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $252k (16.1% below list).
• Recommended offer: $252k (16.1% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.5% in Florida Ridge — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#353 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, amenities F, health & safety D-.
• Indian River (other): math 48% / reading 52% proficiency, ranked #35 of 73 in FL (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Citrus Elementary School (math 52% / reading 52%, grade C-, #990 of 2,144 statewide, top 48%, 666 students, 78% FRL); Oslo Middle School (math 39% / reading 45%, grade D-, #340 of 571 statewide, top 61%, 864 students, 72% FRL); Vero Beach High School (math 28% / reading 43%, grade F, #367 of 667 statewide, top 57%, 2,847 students, 50% FRL).
• Market conditions: 187 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Indian River County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $251,542 (16.1% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.45%
• DSCR: 1.02
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $294,168
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1304 32nd Ave SW	0.10mi	3/2.0	1,236 (0%)	1mo	$299,000	$242	95
3510 11th St SW	0.42mi	3/2.0	1,220 (-1%)	9mo	$290,000	$238	71
3409 12th St SW	0.26mi	3/2.0	1,132 (-8%)	6mo	$325,000	$287	69
1116 SW 33rd Ave Ave SW	0.34mi	3/2.0	1,380 (+12%)	0mo	$390,000	$283	65
1134 37th Ave SW	0.42mi	3/2.0	1,370 (+11%)	0mo	$264,900	$193	62
945 33rd Ave SW	0.55mi	3/2.0	1,344 (+9%)	1mo	$319,900	$238	59
1175 34th Ave SW	0.29mi	2/2.0 (-1)	1,400 (+13%)	2mo	$245,000	$175	58
1306 23rd Ave SW	0.65mi	3/2.0	1,189 (-4%)	8mo	$250,000	$210	57
1336 26th Ave SW	0.45mi	2/1.0 (-1)	1,158 (-6%)	5mo	$235,000	$203	56
2075 14th St SW	0.75mi	2/2.0 (-1)	1,200 (-3%)	3mo	$223,000	$186	53
1635 22nd Ave SW	0.74mi	3/2.0	1,141 (-8%)	4mo	$315,000	$276	50
1395 25th Ave Ave SW	0.52mi	2/2.0 (-1)	1,051 (-15%)	2mo	$239,000	$227	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.44×
• Total profit: $-46,646
• Equity at exit: $44,716

10-year hold

• IRR: -7.2%
• Equity multiple: 0.55×
• Total profit: $-38,200
• Equity at exit: $25,930

Cash invested: $83,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32968

• Home prices YoY: -27.5%
• Active inventory: 187
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,515 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$258 /mo · $3,100/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $31

Break-even live

Break-even rent $2,476

Max offer price $299,900

Occupancy floor 94%

Sensitivity live

Price	-10% $201	-5% $116	+0% $31	+5% $-54	+10% $-139
Rent	-10% $-168	-5% $-68	+0% $31	+5% $131	+10% $230
Rate	-1.0pp $182	-0.5pp $107	base $31	+0.5pp $-47	+1.0pp $-126

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1123 37th Ave SW Unit 1541760P Vero Beach, FL	3.0	2.0	1248	$3,075	$2.46	15d	1	0.45mi
2565 Langrove Ln SW Vero Beach, FL	3.0	2.0	1464	$2,000	$1.37	23d	1	0.81mi
2619 Langrove Ln SW Unit 2619 Vero Beach, FL	3.0	2.0	1464	$2,450	$1.67	23d	1	0.81mi
2543 Stockbridge Sq SW Vero Beach, FL	3.0	2.0	1464	$2,200	$1.50	15d	1	0.91mi
826 Middleton Dr SW Vero Beach, FL	3.0	2.0	1464	$2,150	$1.47	23d	1	0.91mi
3673 2nd Pl SW Vero Beach, FL	3.0	2.0	1410	$4,800	$3.40	23d	1	1.46mi
3673 2nd Pl SW Vero Beach, FL	3.0	2.0	1410	$4,800	$3.40	15d	1	1.46mi

Listing history 20 events

1. 2026-06-22
   days on market $299,900 Active 52 DOM
2. 2026-06-19
   days on market $299,900 Active 50 DOM
3. 2026-06-18
   days on market $299,900 Active 49 DOM
4. 2026-06-17
   days on market $299,900 Active 48 DOM
5. 2026-06-16
   days on market $299,900 Active 47 DOM
6. 2026-06-15
   days on market $299,900 Active 46 DOM
7. 2026-06-14
   days on market $299,900 Active 44 DOM
8. 2026-06-13
   days on market $299,900 Active 43 DOM
9. 2026-06-10
   days on market $299,900 Active 41 DOM
10. 2026-06-09
    days on market $299,900 Active 40 DOM
11. 2026-06-08
    days on market $299,900 Active 39 DOM
12. 2026-06-07
    days on market $299,900 Active 38 DOM
13. 2026-06-05
    days on market $299,900 Active 35 DOM
14. 2026-06-02
    days on market $299,900 Active 33 DOM
15. 2026-06-01
    days on market $299,900 Active 32 DOM
16. 2026-05-31
    days on market $299,900 Active 31 DOM
17. 2026-05-30
    days on market $299,900 Active 30 DOM
18. 2026-04-30
    listed $299,900 Active 485-char remark

    Show marketing remark (485 chars)

    Completely renovated! Welcome to this beautifully maintained 3-bedroom, 2-bath home perfectly situated on a desirable corner lot. This property features a recently updated kitchen with modern finishes, fresh interior paint that gives the home a bright and inviting feel, and a brand-new roof for added peace of mind. All new appliances! The functional layout offers comfortable living spaces ideal for both everyday living and entertaining. This home is move-in ready and a must-see!

19. 2026-04-30
    listed $299,900 Active

    Show marketing remark (485 chars)

    Completely renovated! Welcome to this beautifully maintained 3-bedroom, 2-bath home perfectly situated on a desirable corner lot. This property features a recently updated kitchen with modern finishes, fresh interior paint that gives the home a bright and inviting feel, and a brand-new roof for added peace of mind. All new appliances! The functional layout offers comfortable living spaces ideal for both everyday living and entertaining. This home is move-in ready and a must-see!

20. 2018-11-29
    soldstatus $400,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $3,100 · $258/mo
• Projected year-2 tax: $3,100 · $258/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 24 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,185
• − Mortgage interest: −$16,799
• − Property taxes: −$3,100
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,415
• − Management: −$2,415
• − Depreciation: −$8,724
• Taxable loss: −$4,768
• Est. tax savings @ 24.0%: +$1,144
• After-tax cash flow: $1,518/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Indian River
• NCES district ID: 1200930
• Math proficiency: 48% ▼ -9.00%
• Reading proficiency: 52% ▼ -3.00%
• Median HH income: $46,597
• Composite: 42.45/100
• National rank: #3218
• State rank: #35 of 73 in FL

Livability — Florida Ridge

• Score: 72/100
• State rank: #353
• US rank: #6129

Category grades

Amenities F Commute A+ Cost of living A+ Crime C+ Employment D Housing A+ Health & safety D- User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 25,629
• Population (ZIP): 15,576

Population outlook (Indian River County) Hauer SSP2

• Today (2025): 165,104 people
• By 2030: 172,869 · +4.7%
• By 2040: 185,640 · +12.4%
• By 2050: 194,465 · +17.8%
• By 2075: 211,115 · +27.9%
• By 2100: 211,781 · +28.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 12% Two or more races 11% Black 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Spanish 7% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Indian River

• 2024 margin: Strong R (+27.4) · D 36.0% · R 63.4%
• 2008→2024 swing: -12.5pp toward R · 2008: -14.8pp · 2024: -27.4pp
• All cycles: 2024: R+27.4 2020: R+21.6 2016: R+24.5 2012: R+22.3 2008: R+14.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.63%
• Current HPI: 312.136
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-25.0% since first listed

3 events — show timeline

• 2026-04-30 Listed $299,900 Beaches MLS
• 2026-04-30 Listed $299,900 RAIRCMLS
• 2018-11-29 Sold (Public Records) $400,000 Public Records

Property tax history

+11.1%/yr

Latest (2025): $3,100 · +16.8% YoY. Source: county tax records.