240 Travis Cay Pl #2 · Indian River Estates, FL 34982

$72,000

2 bd · 2.0 ba · 1,250 sqft · Manufactured · 534 Days on market

Built 1987 5,663 sqft lot Est $132k · 46% under $574/mo HOA · 26% of rent ↓ 23% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.4/5.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Seller is motivated and considering ALL STRONG OFFERS! PRICE REDUCED FOR QUALIFIED BUYER! Here is your new home for 2026! Located in a great 55+ community with clubhouse, pool and lots of activities. This 2-bedroom, 2 bathroom offers a large custom kitchen with breakfast area, separate formal dining, a large Livingroom and a Florida room with attached shed. All appliances remain as well as TV and fireplace. Ample storage throughout. New Exterior paint and driveway sealed, new central air and breaker box. This most sought-after community is close to beaches, shopping, entertainment, sporting activities and fishing! LOW LAND LEASE 597 monthly covers trash and recycle!! Call today to schedul

Key facts

• Custom kitchen
• New exterior paint
• Florida room

Tags

• CUSTOM KITCHEN
• FLORIDA ROOM
• ATTACHED SHED
• AMPLE STORAGE
• NEW EXTERIOR PAINT
• NEW CENTRAL AIR

Property features AI

Finance

• Other: Paved road frontage east of US-1
• HOA & community: Association with clubhouse and pool; Monthly association fee of $574 (includes trash); Senior community; Pets allowed (restrictions possible)

Exterior

• Parking: Attached carport (1 covered carport space); 1 open parking space
• Utilities: Public water; Public sewer; Sewer and water available; Electric service
• Home design: Manufactured home (model: palm); Single-story; Entry level living area; Faces south
• Construction: Aluminum siding; Aluminum/other skirting; Composition/shingle roof; Mobile dimensions approximately 49' x 28'; Resale condition
• Exterior features: Open patio; Patio

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Built-in features; Cathedral and vaulted ceilings; High ceilings; Walk-in closet(s); Bedroom layout: stacked
• Laundry & utility: Partially furnished (some items included)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $72k.

Deal economics

• At list price, monthly cash flow is $677 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $72k).
• Recommended offer: $63k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.6% vs local median 5.3% in Indian River Estates — 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 65/100 on livability (#653 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D+, amenities F, commute 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.
• Zoned schools: Savanna Ridge Elementary School (math 40% / reading 45%, grade F, #1,383 of 2,144 statewide, top 65%, 452 students, 75% FRL); Port St. Lucie High School (math 21% / reading 43%, grade F, #415 of 667 statewide, top 63%, 1,748 students, 67% FRL).
• Market conditions: Rents rising fast (+7.4%/yr); 336 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• At $2,214/mo this rent would consume 49% of the median local household income ($54k/yr) (locally 1086% 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 $498 of loan paydown is wiped out by about $2k 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 + 7.4% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 534 days — a 12% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• 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 $63,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 534 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Schools are F-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. 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.
7. 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.
8. 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: 3.07% ✓
• Cap rate: 17.58%
• Cash-on-cash: 40.31%
• DSCR: 2.79
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $132,500
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5683 Hemingway Ct	0.14mi	2/2.0	1,144 (-8%)	1mo	$76,800	$67	78
243 Sea Conch	0.08mi	2/2.0	1,411 (+13%)	6mo	$150,000	$106	70

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 · 7.42% rent growth · sell at horizon

5-year hold

• IRR: 44.1%
• Equity multiple: 3.09×
• Total profit: $42,134
• Equity at exit: $10,735

10-year hold

• IRR: 52.9%
• Equity multiple: 7.95×
• Total profit: $140,030
• Equity at exit: $6,225

Cash invested: $20,160 (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 34982

• Home prices YoY: -33.4%
• Rents YoY: 7.4%
• Active inventory: 336
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $2,214 high
• Mortgage (P&I): −$378
• Tax est. 1.5%: −$90 /mo · $1,080/yr
• Insurance: −$30
• HOA: −$574
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $677

Break-even live

Break-even rent $1,356

Max offer price $72,000

Occupancy floor 64%

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
203 Melton Dr Unit B Fort Pierce, FL	2.0	1.0	1200	$1,800	$1.50	23d	1	0.37mi
341 Ashley St Fort Pierce, FL	3.0	2.0	1128	$2,460	$2.18	23d	1	0.56mi
355 Johnston St Fort Pierce, FL	3.0	1.5	1118	$2,500	$2.24	23d	1	0.59mi
394 Salisbury Cir Fort Pierce, FL	3.0	2.5	1808	$2,500	$1.38	13d	1	0.62mi
352 Johnston St Fort Pierce, FL	3.0	2.0	936	$2,100	$2.24	23d	1	0.62mi
389 Salisbury Cir Fort Pierce, FL	3.0	2.5	1808	$3,200	$1.77	23d	1	0.63mi
423 Salisbury Cir Fort Pierce, FL	3.0	2.5	1808	$2,500	$1.38	23d	1	0.65mi
587 Salisbury Cir Fort Pierce, FL	3.0	2.5	1808	$2,350	$1.30	13d	1	0.66mi
492 Salisbury Cir Fort Pierce, FL	3.0	2.5	1486	$2,395	$1.61	23d	1	0.70mi
330 Borraclough St Fort Pierce, FL	3.0	2.0	1404	$2,175	$1.55	13d	1	0.70mi
526 Salisbury Cir Fort Pierce, FL	3.0	2.5	1486	$2,399	$1.61	13d	1	0.72mi
5300 Seagrape Dr Fort Pierce, FL	3.0	2.0	1300	$2,450	$1.88	23d	1	0.87mi
5315 Hickory Dr Fort Pierce, FL	3.0	2.0	1400	$2,045	$1.46	23d	1	1.04mi
699 W Weatherbee Rd Fort Pierce, FL	2.0	1.5	1100	$1,875	$1.70	23d	1	1.27mi

HOA detail

• Monthly dues: $574 · $6,888/yr
• Likely covers: trashpool

Listing history 21 events

1. 2026-06-18
   days on market $72,000 Active 534 DOM
2. 2026-06-17
   days on market $72,000 Active 533 DOM
3. 2026-06-16
   days on market $72,000 Active 532 DOM
4. 2026-06-15
   days on market $72,000 Active 531 DOM
5. 2026-06-14
   days on market $72,000 Active 529 DOM
6. 2026-06-13
   days on market $72,000 Active 528 DOM
7. 2026-06-10
   days on market $72,000 Active 526 DOM
8. 2026-06-09
   days on market $72,000 Active 525 DOM
9. 2026-06-08
   days on market $72,000 Active 524 DOM
10. 2026-06-07
    days on market $72,000 Active 523 DOM
11. 2026-06-05
    days on market $72,000 Active 520 DOM
12. 2026-06-03
    days on market $72,000 Active 519 DOM
13. 2026-06-02
    days on market $72,000 Active 518 DOM
14. 2026-06-01
    days on market $72,000 Active 517 DOM
15. 2026-05-31
    days on market $72,000 Active 516 DOM
16. 2026-05-30
    days on market $72,000 Active 515 DOM
17. 2026-05-05
    price $72,000
18. 2026-01-15
    price $79,500
19. 2025-05-13
    price $87,000
20. 2025-04-10
    price $92,000
21. 2024-12-31
    listed $94,000 Active

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

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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,564
• − Mortgage interest: −$4,033
• − Property taxes: −$1,080
• − Insurance: −$360
• − Repairs & maintenance: −$2,125
• − Management: −$2,125
• − HOA: −$6,888
• − Depreciation: −$2,095
• Taxable income: $7,858
• Est. tax owed @ 24.0%: −$1,886
• After-tax cash flow: $6,241/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 — Indian River Estates

• Score: 65/100
• State rank: #653
• US rank: #12946

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indian River Estates, FL
• County: Saint Lucie County · 337,150 people
• City population: 27,447
• Metro: Port St. Lucie, FL
• Population (ZIP): 31,143
• Household income: $54,082
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 1086.0

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 White (62%)
• Race & ethnicity: White 62% Hispanic / Latino 22% Two or more races 12% Black 12%
• Hispanic origin (detail): Mexican 10% Puerto Rican 3% Cuban 3%
• Common ancestry: Italian 7% Hispanic 2% Lithuanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 80% English-only · Spanish 16% French/Haitian/Cajun 3%

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: ▼ -199.47%
• Current HPI: 397.2649
• Rent YoY: ▲ 7.42%
• 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

-23.4% since first listed

5 events — show timeline

• 2026-05-05 Price Changed $72,000 Beaches MLS
• 2026-01-15 Price Changed $79,500 Beaches MLS
• 2025-05-13 Price Changed $87,000 Beaches MLS
• 2025-04-10 Price Changed $92,000 Beaches MLS
• 2024-12-31 Listed $94,000 Beaches MLS