516 N 21st St · Fort Pierce, FL 34950

$150,000

2 bd · 2.0 ba · 897 sqft · MultiFamily public records · 4 Days on market

Built 1954 6,650 sqft lot

---

Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

This Fort Pierce duplex is a fantastic fixer-upper opportunity with strong rental income potential. It's priced to sell and ready to welcome investors!

Key facts

• 6,650 sq ft lot
• Built 1954
• Listed 4 days

Property features AI

Finance

• Financial info: Property configured as 2 total units (2 units in community); Pets allowed with no restrictions

Exterior

• Utilities: Public water; Public sewer; Sewer and water connected; 100 Amp electric service; Two separate electric meters; One separate water meter
• Home design: Duplex; One story; Resale property
• Construction: Wood frame construction; Fiberglass roof; Slab foundation; Built area reported as 993 (building total) and living area reported as 897
• Exterior features: Back yard fencing; Asphalt road access; Not waterfront

Interior

• Flooring: Tile
• Heating & cooling: Heating present (type: other); Wall/window cooling units
• Interior features: Tile flooring; Windows with other/unspecified features

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $554/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Cap rate 15.2% vs local median 3.7% in Fort Pierce — 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 76/100 on livability (#226 in FL, #3,360 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, schools D, amenities F.
• St. Lucie (urban): math 40% / reading 48% proficiency, ranked #51 of 73 in FL (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.9%/yr); 165 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• At $2,647/mo this rent would consume 104% of the median local household income ($30k/yr) (locally 1995% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• St. Lucie County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.9% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.76% ✓
• Cap rate: 15.16%
• Cash-on-cash: 31.68%
• DSCR: 2.41
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.94% rent growth · sell at horizon

5-year hold

• IRR: 29.8%
• Equity multiple: 2.29×
• Total profit: $54,377
• Equity at exit: $22,365

10-year hold

• IRR: 38.7%
• Equity multiple: 5.13×
• Total profit: $173,443
• Equity at exit: $12,969

Cash invested: $42,000 (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 34950

• Home prices YoY: -20.2%
• Rents YoY: 5.9%
• Active inventory: 165
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,647 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$133 /mo · $1,599/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $1,109

Break-even live

Break-even rent $1,244

Max offer price $150,000

Occupancy floor 53%

Sensitivity live

Price	-10% $1,194	-5% $1,151	+0% $1,109	+5% $1,066	+10% $1,024
Rent	-10% $900	-5% $1,004	+0% $1,109	+5% $1,213	+10% $1,318
Rate	-1.0pp $1,184	-0.5pp $1,147	base $1,109	+0.5pp $1,070	+1.0pp $1,030

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,648
Total (2 units)			$2,647

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
907 N 20th St Apt B Fort Pierce, FL	3.0	1.0	980	$1,800	$1.84	24d	1	0.27mi
1617 Avenue E Fort Pierce, FL	3.0	1.0	1100	$1,800	$1.64	24d	1	0.28mi
434 N 17th St Fort Pierce, FL	2.0	1.0	712	$1,500	$2.11	24d	1	0.31mi
1607 Avenue D Fort Pierce, FL	3.0	2.0	1029	$1,700	$1.65	14d	1	0.31mi
1604 Avenue E Fort Pierce, FL	2.0	1.0	713	$1,350	$1.89	14d	1	0.35mi
205 N 22nd St Fort Pierce, FL	2.0	1.0	1050	$1,500	$1.43	24d	1	0.38mi
505 N 27th St Fort Pierce, FL	3.0	1.0	879	$2,660	$3.03	24d	1	0.40mi
312 N 27th St Fort Pierce, FL	2.0	1.0	868	$1,600	$1.84	24d	1	0.45mi
1405 Avenue G Apt A Fort Pierce, FL	3.0	2.0	1064	$2,200	$2.07	24d	1	0.47mi
2908 Dunbar St Fort Pierce, FL	2.0	1.0	942	$1,300	$1.38	21d	1	0.54mi
204 N 28th St Fort Pierce, FL	3.0	2.0	1000	$1,550	$1.55	24d	1	0.55mi
136 N 15th St Unit C Fort Pierce, FL	2.0	1.0	688	$1,375	$2.00	24d	1	0.56mi
2804 Avenue J Fort Pierce, FL	3.0	1.0	816	$2,000	$2.45	14d	1	0.58mi
1408 N 23rd St Fort Pierce, FL	3.0	1.0	1110	$1,900	$1.71	14d	1	0.59mi
508 Means Ct Unit A Fort Pierce, FL	1.0	1.0	826	$775	$0.94	24d	1	0.60mi
508 Means Ct Fort Pierce, FL	3.0	3.0	826	$1,950	$2.36	14d	1	0.60mi
2202 N AVE Unit A Fort Pierce, FL	2.0	1.0	585	$1,500	$2.56	24d	1	0.63mi
1127 E Avenue Unit A Fort Pierce, FL	2.0	1.0	784	$1,800	$2.30	21d	1	0.67mi
1601 N 17th St Fort Pierce, FL	2.0	1.0	996	$1,650	$1.66	24d	1	0.72mi
1310 Atlantic Ave Unit B Fort Pierce, FL	1.0	1.0	700	$1,620	$2.31	24d	1	0.72mi
1310 Atlantic Ave Unit B Fort Pierce, FL	1.0	1.0	700	$1,550	$2.21	14d	1	0.72mi
321 N 11th St Unit C Fort Pierce, FL	1.0	1.0	650	$950	$1.46	24d	1	0.72mi
1225 Avenue K Fort Pierce, FL	3.0	1.0	837	$1,700	$2.03	24d	1	0.72mi
529 N 11th St Fort Pierce, FL	2.0	2.0	634	$1,200	$1.89	21d	1	0.73mi
1610 N 25th St Unit 13 Fort Pierce, FL	2.0	1.0	740	$1,550	$2.09	24d	1	0.75mi
1610 N 25th St Unit 10 Fort Pierce, FL	2.0	1.0	740	$1,600	$2.16	24d	1	0.75mi
1610 N 25th St Unit 1 Fort Pierce, FL	2.0	1.0	740	$1,600	$2.16	14d	1	0.75mi
1220 Avenue L Unit A Fort Pierce, FL	3.0	1.0	850	$1,700	$2.00	24d	1	0.76mi
1406 Citrus Ave Fort Pierce, FL	2.0	1.0	930	$1,600	$1.72	14d	1	0.78mi
1710 N 21st St Fort Pierce, FL	3.0	1.0	968	$2,100	$2.17	14d	1	0.79mi
701 N 9th St Unit B Fort Pierce, FL	2.0	2.0	740	$1,395	$1.89	24d	1	0.87mi
1002 Boston Ave Fort Pierce, FL	2.0	1.0	809	$2,000	$2.47	24d	1	0.97mi
127 S 10th St Fort Pierce, FL	2.0	1.0	809	$1,800	$2.22	24d	1	0.97mi
510 Texas Ct Fort Pierce, FL	2.0	1.0	750	$1,400	$1.87	24d	1	0.99mi
3002 Avenue Q Fort Pierce, FL	2.0	1.0	864	$1,900	$2.20	24d	1	1.00mi
804 Orange Ave Unit B Fort Pierce, FL	2.0	1.0	700	$1,350	$1.93	14d	1	1.04mi
804 Orange Ave Unit B Fort Pierce, FL	2.0	1.0	700	$1,450	$2.07	24d	1	1.04mi
624 S 12th St Unit B Fort Pierce, FL	1.0	1.0	1000	$1,650	$1.65	14d	1	1.10mi
3101 Avenue T Fort Pierce, FL	2.0	2.0	1064	$1,980	$1.86	24d	1	1.16mi
4005 Avenue I Unit A Fort Pierce, FL	2.0	1.0	880	$1,600	$1.82	14d	1	1.22mi

Listing history 5 events

1. 2026-06-10
   status $150,000 Pending 4 DOM
2. 2026-06-09
   days on market $150,000 Active 4 DOM
3. 2026-06-08
   days on market $150,000 Active 3 DOM
4. 2026-06-07
   remarks 151-char remark
5. 2026-06-07
   listed $150,000 Active 2 DOM

ⓘ 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: $1,599 · $133/mo
• Projected year-2 tax: $1,599 · $133/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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,764
• − Mortgage interest: −$8,402
• − Property taxes: −$1,599
• − Insurance: −$750
• − Repairs & maintenance: −$2,541
• − Management: −$2,541
• − Depreciation: −$4,364
• Taxable income: $11,567
• Est. tax owed @ 24.0%: −$2,776
• After-tax cash flow: $10,529/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: St. Lucie
• NCES district ID: 1201770
• Math proficiency: 40% ▼ -11.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $44,737
• Composite: 37.28/100
• National rank: #4449
• State rank: #51 of 73 in FL

Livability — Fort Pierce

• Score: 76/100
• State rank: #226
• US rank: #3360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Pierce, FL
• County: Saint Lucie County · 337,150 people
• City population: 78,556
• Metro: Port St. Lucie, FL
• Population (ZIP): 17,461
• Household income: $30,400
• Rent vs Own: 61.1% rent · 38.9% own
• Severe rent burden: 1995.0

Population outlook (St. Lucie County) Hauer SSP2

• Today (2025): 338,016 people
• By 2030: 355,687 · +5.2%
• By 2040: 385,521 · +14.1%
• By 2050: 406,106 · +20.1%
• By 2075: 441,054 · +30.5%
• By 2100: 436,885 · +29.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (63%)
• Race & ethnicity: Black 63% Hispanic / Latino 19% White 17% Two or more races 10%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2% Cuban 1%
• Common ancestry: Hispanic 17% Portuguese 1%
• Foreign-born: 23% · Canada
• Languages at home: 69% English-only · Spanish 14% French/Haitian/Cajun 12% Other Indo-European 4%

Political lean MEDSL · St. Lucie

• 2024 margin: Lean R (+9.1) · D 45.1% · R 54.2%
• 2008→2024 swing: -21.2pp toward R · 2008: 12.1pp · 2024: -9.1pp
• All cycles: 2024: R+9.1 2020: R+1.6 2016: R+2.5 2012: D+7.9 2008: D+12.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.20%
• Current HPI: 384.8532
• Rent YoY: ▲ 5.94%
• Metro: Port St. Lucie, FL
• 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

1 event — show timeline

• 2026-06-02 Listed $150,000 Beaches MLS

Property tax history

+12.7%/yr

Latest (2025): $1,599 · +9.4% YoY. Source: county tax records.