673 Cavern Ter · Sebastian, FL 32958

$324,900

3 bd · 2.0 ba · 1,427 sqft · SingleFamily public records · 1 Days on market

Built 2003 10,019 sqft lot Est $310k · at est.

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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 +11.4/30.0
• ARV discount +5.3/15.0
• Schools +4.2/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Professional photos coming soon. .Prime Sebastian location. Close to Riverview park, boat ramp, parks, shopping/dining. This perfectly updated home features 3 beds, 2 baths, split floor plan & 2 car garage. Upgraded kitchen with island, quartz countertops, custom backsplash, crisp white cabinets, pantry, black fixtures & new stainless steel appliances. The primary has a custom remodeled bathroom, walk-in closet & tile shower. Tile plank flooring, fresh paint, baseboards & light fixtures w/ remote-controlled fans add a fresh touch throughout. New drain-field, 2023 roof, 2026 W/ H, 2025 AC. NO HOA

Key facts

• Custom backsplash
• Quartz countertops
• Riverview park

Tags

• RIVERVIEW PARK
• UPGRADED KITCHEN
• QUARTZ COUNTERTOPS
• CUSTOM BACKSPLASH
• WALK-IN CLOSET
• TILE SHOWER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-111 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $305k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (27.3% below list).
• Recommended offer: $236k (27.3% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.4% in Sebastian — 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 81/100 on livability (#89 in FL, #1,421 nationally) — a professional / high-income tenant draw. Strengths: housing A+, crime A, health & safety A; Watch: schools D+, amenities 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.
• Market conditions: Rents rising fast (+6.2%/yr); 412 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).
• This rent runs 42% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $236,085 (27.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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: 0.73% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.46%
• DSCR: 0.93
• GRM: 11.5

CMA / ARV

• ARV (on-the-fly): $309,659
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1562 Schooner Ln	0.13mi	3/2.0	1,384 (-3%)	3mo	$340,000	$246	87
795 Rolling Hill Dr	0.35mi	2/2.0 (-1)	1,440 (+1%)	0mo	$277,400	$193	77
1502 Quatrain Ln	0.16mi	3/2.0	1,549 (+8%)	3mo	$325,000	$210	76
1625 Whitmore St	0.37mi	2/2.0 (-1)	1,440 (+1%)	6mo	$288,000	$200	71
907 Starflower Ave	0.57mi	3/2.0	1,472 (+3%)	3mo	$320,000	$217	66
1782 Laconia St	0.31mi	3/2.0	1,592 (+12%)	2mo	$345,000	$217	65
561 Carnival Ter	0.34mi	3/2.0	1,285 (-10%)	5mo	$327,500	$255	63
626 Browning Ter	0.47mi	2/2.0 (-1)	1,388 (-3%)	6mo	$299,990	$216	63
1362 Seahouse St	0.69mi	3/2.0	1,481 (+4%)	2mo	$359,900	$243	60
491 Carnival Ter	0.68mi	3/2.0	1,348 (-6%)	2mo	$357,000	$265	58
485 Periwinkle Dr	0.45mi	3/2.0	1,634 (+14%)	5mo	$429,000	$263	50
1593 Esterbrook Ln	0.71mi	3/2.0	1,512 (+6%)	8mo	$255,000	$169	50

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 · 6.22% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.43×
• Total profit: $-51,938
• Equity at exit: $48,444

10-year hold

• IRR: -3.0%
• Equity multiple: 0.78×
• Total profit: $-20,224
• Equity at exit: $28,091

Cash invested: $90,972 (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 32958

• Home prices YoY: -13.1%
• Rents YoY: 6.2%
• Active inventory: 412
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $2,361 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$137 /mo · $1,640/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$496
• Net cashflow: $-111

Break-even live

Break-even rent $2,501

Max offer price $305,330

Occupancy floor 100%

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: $81,225
• Closing costs: $9,747
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
722 Carnival Ter Sebastian, FL	3.0	2.0	1430	$2,300	$1.61	13d	1	0.15mi
1507 Ocean Cove St Sebastian, FL	3.0	2.0	1661	$2,100	$1.26	13d	1	0.27mi
1565 Glentry Ln Sebastian, FL	2.0	2.0	1189	$2,500	$2.10	13d	1	0.42mi
742 Capon Ter Sebastian, FL	2.0	2.0	1080	$2,000	$1.85	21d	1	0.71mi
1421 Thornhill Ln Sebastian, FL	3.0	2.0	1216	$2,800	$2.30	13d	1	0.97mi
155 Midvale Ter Sebastian, FL	3.0	2.0	1853	$3,000	$1.62	21d	1	1.07mi
117 Acorn Ter Sebastian, FL	3.0	1.0	896	$1,800	$2.01	21d	1	1.11mi
1198 Breezy Way Unit 7A Sebastian, FL	2.0	2.0	960	$1,900	$1.98	21d	1	1.21mi
1110 Barber St Sebastian, FL	3.0	2.0	1324	$2,200	$1.66	13d	1	1.23mi
1836 Barber St Sebastian, FL	4.0	2.0	1851	$2,000	$1.08	21d	1	1.40mi
426 Tulip Dr Sebastian, FL	2.0	2.0	1161	$2,100	$1.81	21d	1	1.45mi

Listing history 8 events

1. 2026-06-18
   statusdays on marketlisting id $324,900 Active 1 DOM
2. 2026-06-17
   days on market $324,900 Coming Soon 8 DOM
3. 2026-06-16
   days on market $324,900 Coming Soon 7 DOM
4. 2026-06-15
   days on market $324,900 Coming Soon 6 DOM
5. 2026-06-14
   days on market $324,900 Coming Soon 4 DOM
6. 2026-06-13
   days on market $324,900 Coming Soon 3 DOM
7. 2026-06-10
   remarks 610-char remark
8. 2026-06-10
   listed $324,900 Coming Soon 1 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: $1,640 · $137/mo
• Projected year-2 tax: $2,697 · $225/mo
• Expected delta: +$1,057/yr (+$88/mo · 64.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 23 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: $28,330
• − Mortgage interest: −$18,199
• − Property taxes: −$1,640
• − Insurance: −$1,624
• − Repairs & maintenance: −$2,266
• − Management: −$2,266
• − Depreciation: −$9,452
• Taxable loss: −$7,118
• Est. tax savings @ 24.0%: +$1,708
• After-tax cash flow: $379/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 — Sebastian

• Score: 81/100
• State rank: #89
• US rank: #1421

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sebastian, FL
• County: Indian River County · 143,738 people
• City population: 30,023
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 30,023
• Household income: $66,840
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 646.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 7% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 3%
• Common ancestry: Lithuanian 4% Slovak 4% Romanian 3%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -49.85%
• Current HPI: 330.1691
• Rent YoY: ▲ 6.22%
• Metro: Sebastian-Vero Beach, 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

• 2026-06-09 Coming Soon $324,900 RAIRCMLS

Property tax history

+4.4%/yr

Latest (2025): $1,640 · +5.0% YoY. Source: county tax records.