4350 Doubles Alley Dr #201 · Gifford, FL 32967

$279,000

3 bd · 2.0 ba · 1,523 sqft · Condo public records · 50 Days on market

Built 2006 $592/mo HOA · 18% of rent ↓ 25% since listing

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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 +18.9/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• DSCR +5.9/10.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully maintained quiet 3-bedroom, 2-bath tennis villa. A perfect blend of comfort and resort-style living, featuring soaring high ceilings that create a bright, open feel, plantation shutters for added elegance and privacy. Brand-new carpet in select rooms for an added fresh touch. Enjoy tranquil views of the sparkling pool and the convenience of a nearby clubhouse with a public restaurant just steps away, making this home ideal for both relaxation and an active lifestyle. Club membership is required Move in ready!

Key facts

• Plantation shutters
• Nearby clubhouse
• $592 HOA

Tags

• PLANTATION SHUTTERS
• NEARBY CLUBHOUSE

Property features AI

Finance

• Other: Pets allowed with possible restrictions and number limits
• HOA & community: Monthly HOA dues; Community amenities include clubhouse, fitness center, pool, tennis courts and community room; HOA covers insurance, grounds and structure maintenance, sewer, trash, water, common areas and reserve funds

Exterior

• Parking: Open parking available; No carport
• Utilities: Public water; Public sewer; Electricity connected; Water connected
• Home design: Condominium; Two stories; South-facing
• Construction: Concrete block with stucco construction; Metal and shingle roof; Built as resale property
• Exterior features: No waterfront; Open parking

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Three main-level bedrooms
• Flooring: Carpet; Tile
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Vaulted ceilings; Walk-in closets
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $279k.

Deal economics

• At list price, monthly cash flow is $285 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $279k).
• Recommended offer: $271k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 3.0% in Gifford — 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 68/100 on livability (#538 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A; Watch: amenities F, employment F, housing F.
• 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.
• Zoned schools: Dodgertown Elementary School (math 27% / reading 32%, grade F, #1,896 of 2,144 statewide, top 90%, 485 students, 78% FRL); Gifford Middle School (math 46% / reading 45%, grade D+, #305 of 571 statewide, top 54%, 582 students, 72% FRL); Vero Beach High School (math 28% / reading 43%, grade F, #367 of 667 statewide, top 57%, 2,847 students, 50% FRL).
• Zoned-school proficiency averages 37% at this address vs 50% district-wide (-13 pts) — the specific schools serving this property underperform the Indian River average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.2%/yr); 612 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).
• At $3,284/mo this rent would consume 50% of the median local household income ($78k/yr) (locally 674% 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 $8k 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 50 days — a 3% lower offer ($271k) 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.

Risks & watch-outs

• 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 $270,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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 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: 1.18% ✓
• Cap rate: 7.52%
• Cash-on-cash: 4.38%
• DSCR: 1.19
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -13.4%
• Equity multiple: 0.53×
• Total profit: $-36,391
• Equity at exit: $41,600

10-year hold

• IRR: -11.2%
• Equity multiple: 0.43×
• Total profit: $-44,347
• Equity at exit: $24,123

Cash invested: $78,120 (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 32967

• Home prices YoY: -24.4%
• Rents YoY: -1.2%
• Active inventory: 612
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $3,284 high
• Mortgage (P&I): −$1,463
• Tax from tax record: −$138 /mo · $1,656/yr
• Insurance: −$116
• HOA: −$592
• Vacancy / Maint / Mgmt: −$690
• Net cashflow: $285

Break-even live

Break-even rent $2,923

Max offer price $279,000

Occupancy floor 86%

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4350 Doubles Alley Dr #203 Vero Beach, FL	2.0	2.0	1168	$2,000	$1.71	13d	1	0.02mi
4335 Baseline Dr Vero Beach, FL	3.0	2.5	1932	$5,500	$2.85	21d	1	0.08mi
1638 Baseline Ln Vero Beach, FL	3.0	2.5	1766	$4,500	$2.55	21d	1	0.10mi
1640 N 42nd Cir Vero Beach, FL	2.0	2.0	1127	$1,998	$1.77	21d	2	0.16mi
1590 S 42nd Cir Vero Beach, FL	2.0–3.0	2.0	1234	$2,500	$2.03	21d	3	0.22mi
1875 Bridgepointe Cir #33 Vero Beach, FL	3.0	3.5	2146	$2,700	$1.26	21d	1	0.25mi
1550 S 42nd Cir Vero Beach, FL	2.0–3.0	2.0	1234	$2,300	$1.86	13d	3	0.26mi
2010 Bridgepointe Cir Unit 102 Vero Beach, FL	3.0	3.0	1774	$5,000	$2.82	21d	1	0.38mi
1945 Bridgepointe Cir #68 Vero Beach, FL	2.0	2.5	2145	$3,650	$1.70	21d	1	0.39mi
2025 Bridgepointe Cir #118 Vero Beach, FL	3.0	2.5	1702	$3,450	$2.03	13d	1	0.39mi
1965 Bridgepointe Cir #84 Vero Beach, FL	3.0	3.5	2156	$2,800	$1.30	21d	1	0.42mi
1156 Haven Cir Vero Beach, FL	3.0	3.0	2239	$4,500	$2.01	21d	1	0.46mi
4781 S Newport Island Dr Vero Beach, FL	2.0	2.5	1897	$12,000	$6.33	21d	1	0.49mi
2159 Falls Mnr Vero Beach, FL	3.0	2.5	1950	$4,500	$2.31	21d	1	0.62mi
4791 S Newport Island Dr Vero Beach, FL	3.0	2.5	2026	$15,000	$7.40	13d	1	0.65mi
4248 26th Ave Vero Beach, FL	3.0	2.0	1531	$2,200	$1.44	13d	1	0.67mi
1349 Harper Way Vero Beach, FL	2.0	2.0	1322	$2,700	$2.04	21d	1	0.72mi
3850 11th Dr Vero Beach, FL	1.0–3.0	1.0–2.0	1029	$2,749	$2.67	13d	57	0.78mi
5045 Harmony Cir #102 Vero Beach, FL	2.0	2.0	1368	$9,500	$6.94	13d	1	0.81mi
5075 Harmony Cir #103 Vero Beach, FL	2.0	2.0	1368	$2,500	$1.83	13d	1	0.82mi
3901 Coast View Pointe Unit B2 Vero Beach, FL	2.0	2.0	1248	$2,700	$2.16	13d	1	0.82mi
3901 Coast View Pointe Unit C2 Vero Beach, FL	3.0	2.0	1576	$3,526	$2.24	13d	1	0.82mi
5045 Fairways Cir Unit D101 Vero Beach, FL	3.0	2.0	1848	$2,200	$1.19	13d	1	0.82mi
5035 Fairways Cir Vero Beach, FL	1.0–2.0	1.0–2.0	1191	$2,400	$2.01	21d	5	0.83mi
5050 Fairways Cir Vero Beach, FL	2.0	2.0	1085	$1,750	$1.61	21d	2	0.89mi
5080 Harmony Cir #304 Vero Beach, FL	2.0	2.0	1368	$8,500	$6.21	13d	1	0.89mi
5020 Fairways Cir Vero Beach, FL	2.0	2.0	1345	$2,125	$1.58	21d	2	0.94mi
5095 Fairways Cir Vero Beach, FL	2.0–3.0	2.0	1092	$2,500	$2.29	13d	3	0.95mi
5095 Fairways Cir Vero Beach, FL	3.0	2.0	1190	$2,450	$2.06	21d	2	0.95mi
1345 Saint Davids Ln Vero Beach, FL	2.0	2.5	1581	$4,000	$2.53	21d	1	0.97mi
5225 E Harbor Village Dr #303 Vero Beach, FL	3.0	2.0	1582	$13,000	$8.22	21d	1	1.17mi
5540 N Harbor Village Dr #204 Vero Beach, FL	2.0	2.0	1400	$7,000	$5.00	21d	1	1.42mi
5545 E Harbor Village Dr Vero Beach, FL	3.0	3.0	1967	$10,000	$5.08	21d	1	1.45mi

HOA detail condo

• Monthly dues: $592 · $7,104/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-19
   days on market $279,000 Active 50 DOM
2. 2026-06-18
   days on market $279,000 Active 49 DOM
3. 2026-06-17
   days on market $279,000 Active 48 DOM
4. 2026-06-16
   days on market $279,000 Active 47 DOM
5. 2026-06-15
   days on market $279,000 Active 46 DOM
6. 2026-06-14
   days on market $279,000 Active 44 DOM
7. 2026-06-13
   days on market $279,000 Active 43 DOM
8. 2026-06-10
   days on market $279,000 Active 41 DOM
9. 2026-06-09
   days on market $279,000 Active 40 DOM
10. 2026-06-08
    days on market $279,000 Active 39 DOM
11. 2026-06-07
    days on market $279,000 Active 38 DOM
12. 2026-06-05
    days on market $279,000 Active 35 DOM
13. 2026-06-02
    days on market $279,000 Active 33 DOM
14. 2026-06-01
    days on market $279,000 Active 32 DOM
15. 2026-05-31
    days on market $279,000 Active 31 DOM
16. 2026-05-30
    days on market $279,000 Active 30 DOM
17. 2026-04-30
    listed $279,000 Active 543-char remark

    Show marketing remark (543 chars)

    Welcome to this beautifully maintained quiet 3-bedroom, 2-bath tennis villa. A perfect blend of comfort and resort-style living, featuring soaring high ceilings that create a bright, open feel, plantation shutters for added elegance and privacy. Brand-new carpet in select rooms for an added fresh touch. Enjoy tranquil views of the sparkling pool and the convenience of a nearby clubhouse with a public restaurant just steps away, making this home ideal for both relaxation and an active lifestyle. Club membership is required Move in ready!

18. 2026-04-30
    listed $279,000 Active

    Show marketing remark (543 chars)

    Welcome to this beautifully maintained quiet 3-bedroom, 2-bath tennis villa. A perfect blend of comfort and resort-style living, featuring soaring high ceilings that create a bright, open feel, plantation shutters for added elegance and privacy. Brand-new carpet in select rooms for an added fresh touch. Enjoy tranquil views of the sparkling pool and the convenience of a nearby clubhouse with a public restaurant just steps away, making this home ideal for both relaxation and an active lifestyle. Club membership is required Move in ready!

19. 2007-04-18
    soldstatus $370,000

ⓘ 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: $1,656 · $138/mo
• Projected year-2 tax: $2,316 · $193/mo
• Expected delta: +$659/yr (+$55/mo · 39.8%)

ⓘ 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) · 72% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 25 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: $39,410
• − Mortgage interest: −$15,628
• − Property taxes: −$1,656
• − Insurance: −$1,395
• − Repairs & maintenance: −$3,153
• − Management: −$3,153
• − HOA: −$7,104
• − Depreciation: −$8,116
• Taxable loss: −$795
• Est. tax savings @ 24.0%: +$191
• After-tax cash flow: $3,612/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 — Gifford

• Score: 68/100
• State rank: #538
• US rank: #10083

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Indian River County · 143,738 people
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 27,240
• Household income: $78,058
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 674.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 60% Black 17% Two or more races 16% Hispanic / Latino 15%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 2% Salvadoran 2%
• Common ancestry: Romanian 3% Hispanic 3% Lithuanian 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 9% French/Haitian/Cajun 3% 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: ▼ -91.34%
• Current HPI: 282.6156
• Rent YoY: ▼ -1.16%
• 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

-24.6% since first listed

3 events — show timeline

• 2026-04-30 Listed $279,000 Beaches MLS
• 2026-04-30 Listed $279,000 RAIRCMLS
• 2007-04-18 Sold (Public Records) $370,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,656 · +4.3% YoY. Source: county tax records.