1240 29th St · Vero Beach, FL 32960

$235,225

3 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 136 Days on market

Built 1940 Est $369k · 36% under

---

Why this score? — see what drove the C 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 +20.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +4.6/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special! Incredible location and neighborhood makes this quaint little property a perfect opportunity to purchase a project that will have a 10 fold return. No HOA, close to beaches, restaurants, and shopping. Come checker out today!

Key facts

• Close to restaurants
• Close to shopping
• Incredible location

Tags

• INCREDIBLE LOCATION
• CLOSE TO BEACHES
• CLOSE TO RESTAURANTS
• CLOSE TO SHOPPING

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: No association

Exterior

• Parking: Unassigned parking
• Utilities: Public water; Public sewer
• Home design: Single-story; Residential property
• Construction: Frame construction; Shingle roof
• Exterior features: No exterior features listed; Has a view; Faces south

Interior

• Kitchen: Range
• Bedrooms: Bedroom (11x12); Bedroom (8x12); Bedroom (13x10)
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Single-hung windows; Unfurnished
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/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 $225k (4.2% below list).
• Recommended offer: $207k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 2.9% in Vero Beach — 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 80/100 on livability (#116 in FL, #1,784 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, health & safety A+; Watch: employment 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 soft (-1.7%/yr); 206 active listings in the ZIP; 35 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).
• At $2,254/mo this rent would consume 49% of the median local household income ($55k/yr) (locally 1166% 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 $2k of loan paydown is wiped out by about $7k 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 136 days — a 12% lower offer ($207k) 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.
• Current owner paid $30k; list at $235k implies a 684% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,998 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.96% ✗
• Cap rate: 7.77%
• Cash-on-cash: 5.28%
• DSCR: 1.23
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $368,832
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3280 Brittin Pl	0.29mi	2/1.5 (-1)	1,220 (+12%)	0mo	$465,000	$381	59
2422 17th Ave	0.45mi	2/1.0 (-1)	1,014 (-7%)	23mo	$385,000	$380	44
2234 18th Ave	0.60mi	2/1.0 (-1)	1,175 (+8%)	12mo	$360,000	$306	43
1100 Ponce De Leon Cir Unit W109	0.59mi	2/2.0 (-1)	1,000 (-8%)	15mo	$125,000	$125	38
2414 Cortez Ave	0.72mi	2/1.0 (-1)	943 (-13%)	3mo	$320,000	$339	37
1100 Ponce De Leon Cir Unit E104	0.61mi	2/2.0 (-1)	928 (-15%)	22mo	$138,000	$149	20

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.60×
• Total profit: $-26,316
• Equity at exit: $35,073

10-year hold

• IRR: -6.8%
• Equity multiple: 0.62×
• Total profit: $-24,877
• Equity at exit: $20,338

Cash invested: $65,863 (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 32960

• Home prices YoY: -25.5%
• Rents YoY: -1.7%
• Active inventory: 206
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,254 high
• Mortgage (P&I): −$1,234
• Tax from tax record: −$159 /mo · $1,912/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $290

Break-even live

Break-even rent $1,887

Max offer price $235,225

Occupancy floor 82%

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: $58,806
• Closing costs: $7,057
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2434 19th Ave Vero Beach, FL	3.0	2.0	1335	$3,500	$2.62	13d	1	0.51mi
1827 24th St Vero Beach, FL	2.0	1.0	850	$1,900	$2.24	21d	1	0.54mi
2222 Ponce De Leon Cir Unit B Vero Beach, FL	2.0	1.0	970	$1,650	$1.70	13d	1	0.55mi
1100 Ponce de Leon Cir #305 Vero Beach, FL	2.0	2.0	840	$1,350	$1.61	21d	1	0.56mi
923 22nd Pl #106 Vero Beach, FL	2.0	2.0	860	$1,600	$1.86	21d	1	0.70mi
808 22nd St Unit 8 Vero Beach, FL	2.0	2.0	1000	$1,465	$1.47	21d	1	0.77mi
1429 19th Pl #4 Vero Beach, FL	2.0	1.0	873	$1,800	$2.06	21d	1	0.81mi
677 Royal Palm Blvd #22 Vero Beach, FL	2.0	2.0	1200	$1,700	$1.42	13d	1	0.86mi
600 Royal Palm Blvd Unit 1A Vero Beach, FL	2.0	2.0	1400	$2,000	$1.43	21d	1	0.89mi
1936 18th Ave Unit A Vero Beach, FL	2.0	1.0	1100	$2,000	$1.82	21d	1	0.90mi
939 19th St Unit 961 Vero Beach, FL	2.0	2.0	1000	$1,850	$1.85	21d	1	0.94mi
1349 Harper Way Vero Beach, FL	2.0	2.0	1322	$2,700	$2.04	21d	1	0.97mi
3850 11th Dr Vero Beach, FL	1.0–3.0	1.0–2.0	1029	$2,749	$2.67	13d	57	0.99mi
2745 Atlantic Blvd Vero Beach, FL	3.0	2.0	1145	$2,150	$1.88	13d	1	1.10mi
2800 Indian River Blvd Vero Beach, FL	1.0–2.0	1.5–2.0	847	$3,200	$3.78	13d	5	1.11mi
1725 20th Ave Vero Beach, FL	3.0	2.0	1394	$3,000	$2.15	13d	1	1.17mi
635 18th Pl Vero Beach, FL	3.0	2.0	1120	$2,300	$2.05	21d	1	1.20mi
23 Royal Palm Pointe Unit B Vero Beach, FL	2.0	2.0	1100	$2,695	$2.45	21d	1	1.26mi
3901 Coast View Pointe Unit B2 Vero Beach, FL	2.0	2.0	1248	$2,700	$2.16	13d	1	1.26mi
2145 30th Ave Vero Beach, FL	2.0	2.0	1036	$3,500	$3.38	13d	1	1.27mi
686 17th St Vero Beach, FL	2.0	1.0	950	$1,700	$1.79	13d	2	1.30mi
1765 6th Ave Vero Beach, FL	2.0	1.0	800	$1,550	$1.94	21d	1	1.31mi
1745 6th Ave Unit 7(R) Vero Beach, FL	2.0	1.0	800	$1,550	$1.94	21d	1	1.31mi
400 18th St Vero Beach, FL	2.0	2.0	1065	$1,575	$1.48	21d	1	1.32mi
400 18th St Vero Beach, FL	2.0	2.0	1065	$1,512	$1.42	13d	2	1.32mi
1953 Robalo Dr Vero Beach, FL	2.0	2.0	1400	$5,000	$3.57	21d	1	1.40mi
1616 24th Ave Vero Beach, FL	3.0	2.0	1430	$2,495	$1.74	13d	1	1.41mi
1550 S 42nd Cir Vero Beach, FL	2.0–3.0	2.0	1234	$2,300	$1.86	13d	3	1.43mi
974 14th Ln Vero Beach, FL	1.0–3.0	1.0–3.0	1828	$5,899	$3.23	13d	32	1.44mi
1590 S 42nd Cir Vero Beach, FL	2.0–3.0	2.0	1234	$2,500	$2.03	21d	3	1.44mi
1801 Indian River Blvd Unit C7 Vero Beach, FL	2.0	2.0	1200	$1,700	$1.42	13d	1	1.44mi
303 18th Pl Vero Beach, FL	2.0	1.5	1200	$1,599	$1.33	21d	1	1.45mi
315 18th Pl Unit 315 Vero Beach, FL	2.0	1.5	1200	$1,599	$1.33	21d	1	1.46mi
1873 Robalo Dr Vero Beach, FL	2.0	2.0	1152	$2,300	$2.00	21d	1	1.47mi
1935 Cobia Dr Unit 202E Vero Beach, FL	2.0	2.0	1000	$2,250	$2.25	21d	1	1.48mi

Listing history 21 events

1. 2026-06-19
   days on market $235,225 Active 136 DOM
2. 2026-06-18
   days on market $235,225 Active 135 DOM
3. 2026-06-17
   days on market $235,225 Active 134 DOM
4. 2026-06-16
   days on market $235,225 Active 133 DOM
5. 2026-06-15
   days on market $235,225 Active 132 DOM
6. 2026-06-14
   days on market $235,225 Active 130 DOM
7. 2026-06-13
   days on market $235,225 Active 129 DOM
8. 2026-06-10
   days on market $235,225 Active 127 DOM
9. 2026-06-09
   days on market $235,225 Active 126 DOM
10. 2026-06-08
    days on market $235,225 Active 125 DOM
11. 2026-06-07
    days on market $235,225 Active 124 DOM
12. 2026-06-05
    days on market $235,225 Active 121 DOM
13. 2026-06-02
    days on market $235,225 Active 119 DOM
14. 2026-06-01
    days on market $235,225 Active 118 DOM
15. 2026-05-31
    days on market $235,225 Active 117 DOM
16. 2026-05-30
    days on market $235,225 Active 116 DOM
17. 2025-08-26
    price $235,225
18. 2025-06-29
    price $242,500
19. 2025-01-30
    listed $250,000 Active
20. 2025-01-30
    listed $235,225 Active
21. 1991-12-01
    soldstatus $30,000

ⓘ 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: $1,912 · $159/mo
• Projected year-2 tax: $1,952 · $163/mo
• Expected delta: +$40/yr (+$3/mo · 2.1%)

ⓘ 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) · 56% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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: $27,048
• − Mortgage interest: −$13,176
• − Property taxes: −$1,912
• − Insurance: −$1,176
• − Repairs & maintenance: −$2,164
• − Management: −$2,164
• − Depreciation: −$6,843
• Taxable loss: −$387
• Est. tax savings @ 24.0%: +$93
• After-tax cash flow: $3,570/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 — Vero Beach

• Score: 80/100
• State rank: #116
• US rank: #1784

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vero Beach, FL
• County: Indian River County · 143,738 people
• City population: 98,707
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 25,259
• Household income: $54,682
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 1166.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 16% Two or more races 12% Black 10% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 3% Cuban 2%
• Common ancestry: Italian 4% Slovak 3% Romanian 3%
• Foreign-born: 11% · Canada, Jamaica, Vietnam
• Languages at home: 82% English-only · Spanish 13% French/Haitian/Cajun 2% Other Asian/Pacific 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: ▼ -103.20%
• Current HPI: 302.0029
• Rent YoY: ▼ -1.66%
• 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

+684.1% since first listed

5 events — show timeline

• 2025-08-26 Price Changed $235,225 RAIRCMLS
• 2025-06-29 Price Changed $242,500 RAIRCMLS
• 2025-01-30 Listed $235,225 RAIRCMLS
• 2025-01-30 Listed $250,000 RAIRCMLS
• 1991-12-01 Sold (Public Records) $30,000 Public Records

Property tax history

+10.1%/yr

Latest (2025): $1,912 · +10.1% YoY. Source: county tax records.