1311 Emerald Ter · Fort Pierce, FL 34950

$635,000

None bd · 4.0 ba · 2,768 sqft · MultiFamily public records · 38 Days on market

Built 2009 0.25 ac lot

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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 +12.4/30.0
• ARV discount +7.5/15.0
• 1% rule +4.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• 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: 4 units. confirmed

Listing remarks MLS

Incredibly unique multifamily property with 4 UNITS! Consisting of two spacious apartments (2 beds/1 bath each) and two (1 bed/1 bath each) studio apartments. Custom built in 2009 with a modern open living space. Fully equipped with 2 laundry rooms, concrete block construction, private parking, full impact windows and tile floors throughout. This lot is deep and has ample room for cars, boats and trailers. No HOA, no restrictions. Located in a desirable area within the growing city of Ft. Pierce. With no differed maintenance rental rates could be increased. All units are currently occupied, 2 are leased, 2 are month to month This well-built Quadplex is a great investment opportunity for investors seeking immediate cash flow!

Key facts

• Impact glass windows
• Ample parking
• 0.25 acre lot

Tags

• QUADRUPLEX OPPORTUNITY
• FOUR SEPARATE LIVING UNITS
• IMPACT GLASS WINDOWS
• AMPLE PARKING

Property features AI

Finance

• Financial info: Tenant pays cable TV, electricity, sewer, and water; Pets allowed with no restrictions

Exterior

• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Sewer connected; 2 separate electric meters; 2 separate water meters
• Home design: Quadruplex; Single-story; Resale property
• Construction: CBS construction; Block foundation; Shingle roof; Built area about 2,768 living area; 3,829 total building area; 4 total units
• Exterior features: Fenced backyard

Interior

• Flooring: Tile
• Heating & cooling: Central heating; Window/wall heating; Central air conditioning; Wall/window air conditioning units
• Interior features: Tile floors; Laundry room
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 2×1bd/1ba units multifamily listed at $635k.

Deal economics

• At list price, monthly cash flow is $-102 ($-1k/yr) — negative. Per door: $-26/mo.
• To cash-flow at today's rent, offer at most $617k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $574k (9.6% below list).
• Recommended offer: $574k (9.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.5% 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+, amenities F, employment 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: Manatee Academy K-8 (math 53% / reading 51%, grade C-, #990 of 2,144 statewide, top 48%, 1,664 students, 65% FRL); Southern Oaks Middle School (math 39% / reading 43%, grade F, #353 of 571 statewide, top 63%, 894 students, 76% FRL); Fort Pierce Central High School (math 15% / reading 45%, grade F, #441 of 667 statewide, top 67%, 3,091 students, 62% FRL).
• Market conditions: Rents rising fast (+5.9%/yr); 166 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• At $5,743/mo this rent would consume 227% 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 $4k of loan paydown is wiped out by about $19k 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.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($616k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $574,300 (9.6% 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. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.90% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.69%
• DSCR: 0.97
• GRM: 9.2

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: -14.0%
• Equity multiple: 0.48×
• Total profit: $-91,665
• Equity at exit: $94,681

10-year hold

• IRR: -0.8%
• Equity multiple: 0.94×
• Total profit: $-10,980
• Equity at exit: $54,903

Cash invested: $177,800 (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: 166
• Price-to-rent: 36.1×

Monthly cashflow live

• Estimated rent: $5,743 high
• Mortgage (P&I): −$3,330
• Tax from tax record: −$1,044 /mo · $12,533/yr
• Insurance: −$265
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,206
• Net cashflow: $-102

Break-even live

Break-even rent $5,872

Max offer price $616,981

Occupancy floor 97%

Sensitivity live

Price	-10% $257	-5% $78	+0% $-102	+5% $-282	+10% $-461
Rent	-10% $-556	-5% $-329	+0% $-102	+5% $125	+10% $352
Rate	-1.0pp $218	-0.5pp $60	base $-102	+0.5pp $-267	+1.0pp $-434

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,934
▸ 2× units	1	1	$2,808
Total (4 units)			$5,743

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: $158,750
• Closing costs: $19,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
318 N 24th St Fort Pierce, FL	3.0	2.5	1952	$2,600	$1.33	25d	1	0.92mi

Listing history 25 events

1. 2026-06-21
   days on market $635,000 Active 38 DOM
2. 2026-06-18
   days on market $635,000 Active 35 DOM
3. 2026-06-17
   days on market $635,000 Active 34 DOM
4. 2026-06-16
   days on market $635,000 Active 33 DOM
5. 2026-06-15
   days on market $635,000 Active 32 DOM
6. 2026-06-14
   days on market $635,000 Active 30 DOM
7. 2026-06-13
   days on market $635,000 Active 29 DOM
8. 2026-06-10
   days on market $635,000 Active 27 DOM
9. 2026-06-09
   days on market $635,000 Active 26 DOM
10. 2026-06-08
    days on market $635,000 Active 25 DOM
11. 2026-06-07
    days on market $635,000 Active 24 DOM
12. 2026-06-05
    days on market $635,000 Active 21 DOM
13. 2026-06-03
    days on market $635,000 Active 20 DOM
14. 2026-06-02
    days on market $635,000 Active 19 DOM
15. 2026-06-01
    days on market $635,000 Active 18 DOM
16. 2026-05-31
    days on market $635,000 Active 17 DOM
17. 2026-05-30
    days on market $635,000 Active 16 DOM
18. 2026-05-14
    listed $635,000 Active
19. 2024-03-21
    soldstatus $575,000
20. 2024-03-18
    soldstatus $575,000 Closed 735-char remark

    Show marketing remark (735 chars)

    Incredibly unique multifamily property with 4 UNITS! Consisting of two spacious apartments (2 beds/1 bath each) and two (1 bed/1 bath each) studio apartments. Custom built in 2009 with a modern open living space. Fully equipped with 2 laundry rooms, concrete block construction, private parking, full impact windows and tile floors throughout. This lot is deep and has ample room for cars, boats and trailers. No HOA, no restrictions. Located in a desirable area within the growing city of Ft. Pierce. With no differed maintenance rental rates could be increased. All units are currently occupied, 2 are leased, 2 are month to month This well-built Quadplex is a great investment opportunity for investors seeking immediate cash flow!

21. 2024-03-09
    status Pending 735-char remark

    Show marketing remark (735 chars)

    Incredibly unique multifamily property with 4 UNITS! Consisting of two spacious apartments (2 beds/1 bath each) and two (1 bed/1 bath each) studio apartments. Custom built in 2009 with a modern open living space. Fully equipped with 2 laundry rooms, concrete block construction, private parking, full impact windows and tile floors throughout. This lot is deep and has ample room for cars, boats and trailers. No HOA, no restrictions. Located in a desirable area within the growing city of Ft. Pierce. With no differed maintenance rental rates could be increased. All units are currently occupied, 2 are leased, 2 are month to month This well-built Quadplex is a great investment opportunity for investors seeking immediate cash flow!

22. 2024-02-27
    historical Active Under Contract 735-char remark

    Show marketing remark (735 chars)

    Incredibly unique multifamily property with 4 UNITS! Consisting of two spacious apartments (2 beds/1 bath each) and two (1 bed/1 bath each) studio apartments. Custom built in 2009 with a modern open living space. Fully equipped with 2 laundry rooms, concrete block construction, private parking, full impact windows and tile floors throughout. This lot is deep and has ample room for cars, boats and trailers. No HOA, no restrictions. Located in a desirable area within the growing city of Ft. Pierce. With no differed maintenance rental rates could be increased. All units are currently occupied, 2 are leased, 2 are month to month This well-built Quadplex is a great investment opportunity for investors seeking immediate cash flow!

23. 2024-02-01
    status Active 735-char remark

    Show marketing remark (735 chars)

    Incredibly unique multifamily property with 4 UNITS! Consisting of two spacious apartments (2 beds/1 bath each) and two (1 bed/1 bath each) studio apartments. Custom built in 2009 with a modern open living space. Fully equipped with 2 laundry rooms, concrete block construction, private parking, full impact windows and tile floors throughout. This lot is deep and has ample room for cars, boats and trailers. No HOA, no restrictions. Located in a desirable area within the growing city of Ft. Pierce. With no differed maintenance rental rates could be increased. All units are currently occupied, 2 are leased, 2 are month to month This well-built Quadplex is a great investment opportunity for investors seeking immediate cash flow!

24. 2024-01-27
    historical Active Under Contract 735-char remark

    Show marketing remark (735 chars)

    Incredibly unique multifamily property with 4 UNITS! Consisting of two spacious apartments (2 beds/1 bath each) and two (1 bed/1 bath each) studio apartments. Custom built in 2009 with a modern open living space. Fully equipped with 2 laundry rooms, concrete block construction, private parking, full impact windows and tile floors throughout. This lot is deep and has ample room for cars, boats and trailers. No HOA, no restrictions. Located in a desirable area within the growing city of Ft. Pierce. With no differed maintenance rental rates could be increased. All units are currently occupied, 2 are leased, 2 are month to month This well-built Quadplex is a great investment opportunity for investors seeking immediate cash flow!

25. 2023-12-19
    listed $595,000 Active 735-char remark

    Show marketing remark (735 chars)

    Incredibly unique multifamily property with 4 UNITS! Consisting of two spacious apartments (2 beds/1 bath each) and two (1 bed/1 bath each) studio apartments. Custom built in 2009 with a modern open living space. Fully equipped with 2 laundry rooms, concrete block construction, private parking, full impact windows and tile floors throughout. This lot is deep and has ample room for cars, boats and trailers. No HOA, no restrictions. Located in a desirable area within the growing city of Ft. Pierce. With no differed maintenance rental rates could be increased. All units are currently occupied, 2 are leased, 2 are month to month This well-built Quadplex is a great investment opportunity for investors seeking immediate cash flow!

ⓘ 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: $12,533 · $1,044/mo
• Projected year-2 tax: $12,533 · $1,044/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 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $68,916
• − Mortgage interest: −$35,570
• − Property taxes: −$12,533
• − Insurance: −$3,175
• − Repairs & maintenance: −$5,513
• − Management: −$5,513
• − Depreciation: −$18,473
• Taxable loss: −$11,861
• Est. tax savings @ 24.0%: +$2,847
• After-tax cash flow: $1,623/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

+6.7% since first listed

8 events — show timeline

• 2026-05-14 Listed $635,000 Beaches MLS
• 2024-03-21 Sold (Public Records) $575,000 Public Records
• 2024-03-18 Sold (MLS) $575,000 Beaches MLS
• 2024-03-09 Pending — Beaches MLS
• 2024-02-27 Contingent — Beaches MLS
• 2024-02-01 Relisted — Beaches MLS
• 2024-01-27 Contingent — Beaches MLS
• 2023-12-19 Listed $595,000 Beaches MLS

Property tax history

+17.4%/yr

Latest (2025): $12,533 · +89.7% YoY. Source: county tax records.