15 Vista Palm Ln #102 · Florida Ridge, FL 32962

$127,000

2 bd · 2.0 ba · 1,000 sqft · Townhouse public records · 95 Days on market

Built 1974 Est $135k · 6% under $622/mo HOA · 36% of rent

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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 +10.2/15.0
• 1% rule +8.5/10.0
• Schools +4.2/10.0
• DSCR +3.7/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS A WELL PRICED (PLAN A) DOWNSTAIRS TURNKEY CONDO IN A VERY CONVENIENT LOCATION COMING IN AT THE SOUTH ENTRANCE. IT NEEDS ALITTLE TLC, BUT WILL BE VERY NICE ONCE DONE. YOU CAN EVEN WALK TO THE SOUTH VERO SQUARE SHOPPING ON THE SIDEWALK OR MAYBE TAKE A BIKE IF YOU FEEL LIKE GETTING SOME EXERCISE & NOT USE YOUR CAR. THE COMPLEX HAS ALOT GOING FOR IT. GOLF IS AVAILABLE & A RESTAURANT.

Key facts

• Fitness center
• Clubhouse
• First floor living

Tags

• FIRST FLOOR LIVING
• TILE FLOORING
• NEW A/C
• RESORT STYLE AMENITIES
• CLUBHOUSE
• FITNESS CENTER

Property features AI

Finance

• Financial info: Pets are not allowed
• HOA & community: Vista Royale & Campbell association; Monthly association fee of $619; Association covers cable TV, internet, structural maintenance, parking, reserves, sewer, trash and water; Community amenities: clubhouse, fitness center, library, on-site property manager, shuffleboard, tennis courts, pool; Senior community

Exterior

• Parking: Assigned uncovered parking
• Security: Smoke detectors
• Utilities: Public water; County sewer
• Home design: 2-story building; Faces west; Has attached property
• Construction: Brick, block and concrete construction
• Exterior features: No notable exterior features listed; Community pool

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Disposal; Electric water heater
• Bedrooms: Bedroom — 11 x 13; Bedroom — 13 x 12
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Sliding doors; Unfurnished; Tile flooring
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $127k.

Deal economics

• At list price, monthly cash flow is $-87 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (12.1% below list).
• Meets the 1% rule at list price ($2k rent vs $127k).
• Recommended offer: $112k (12.1% below list) — sets the bar for cash-flow.
• Cap rate 6.1% vs local median 4.5% in Florida Ridge — 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 72/100 on livability (#353 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, amenities F, health & safety 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.
• Zoned schools: Vero Beach Elementary School (math 39% / reading 36%, grade F, #1,596 of 2,144 statewide, top 75%, 599 students, 80% FRL); Oslo Middle School (math 39% / reading 45%, grade D-, #340 of 571 statewide, top 61%, 864 students, 72% FRL); Vero Beach High School (math 28% / reading 43%, grade F, #367 of 667 statewide, top 57%, 2,847 students, 50% FRL).
• Market conditions: Rents rising fast (+4.2%/yr); 351 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 31% 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 $878 of loan paydown is wiped out by about $4k 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 95 days — a 9% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $44k; list at $127k implies a 189% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 36% of rent.
• Climate carrying-cost: severe flood risk; 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 $111,637 (12.1% 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 95 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.35% ✓
• Cap rate: 6.10%
• Cash-on-cash: -0.69%
• DSCR: 0.97
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $135,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Vista Palm Ln #201	0.08mi	2/2.0	1,000 (0%)	0mo	$95,000	$95	96
11 S Vista Palm Ln #102	0.08mi	2/2.0	1,000 (0%)	2mo	$120,000	$120	94
9 Vista Palm Ln #201	0.11mi	2/2.0	1,000 (0%)	2mo	$60,000	$60	93
5 Vista Palm Ln #207	0.20mi	2/2.0	1,000 (0%)	1mo	$135,000	$135	90
5 Vista Palm Ln #101	0.20mi	2/2.0	1,000 (0%)	1mo	$145,000	$145	90
36 Pine Arbor Ln #102	0.33mi	2/2.0	1,000 (0%)	1mo	$122,000	$122	84
56 Woodland Dr #201	0.48mi	2/2.0	1,000 (0%)	2mo	$165,000	$165	76
89 Crooked Tree Ln #106	0.57mi	2/2.0	1,000 (0%)	2mo	$89,000	$89	71
68 Royal Oak Ct #201	0.67mi	2/2.0	1,000 (0%)	1mo	$162,000	$162	68
81 Crooked Tree Ln #107	0.67mi	2/2.0	1,000 (0%)	2mo	$178,000	$178	67
94 Spring Lake Dr #106	0.72mi	2/2.0	1,000 (0%)	2mo	$176,000	$176	65
66 Woodland Dr #203	0.60mi	1/1.5 (-1)	934 (-7%)	2mo	$95,000	$102	52

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 · 4.18% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.33×
• Total profit: $-23,678
• Equity at exit: $18,936

10-year hold

• IRR: -7.1%
• Equity multiple: 0.51×
• Total profit: $-17,544
• Equity at exit: $10,981

Cash invested: $35,560 (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 32962

• Rents YoY: 4.2%
• Active inventory: 351
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,720 high
• Mortgage (P&I): −$666
• Tax from tax record: −$38 /mo · $459/yr
• Insurance: −$53
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$622
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $-87

Break-even live

Break-even rent $1,830

Max offer price $111,637

Occupancy floor —

Sensitivity live

Price	-10% $-15	-5% $-51	+0% $-87	+5% $-123	+10% $-159
Rent	-10% $-223	-5% $-155	+0% $-87	+5% $-19	+10% $49
Rate	-1.0pp $-23	-0.5pp $-55	base $-87	+0.5pp $-120	+1.0pp $-153

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: $31,750
• Closing costs: $3,810
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Vista Palm Ln Vero Beach, FL	1.0–2.0	1.5–2.0	800	$1,700	$2.12	23d	2	0.05mi
19 Pine Arbor Ln #105 Vero Beach, FL	1.0	1.5	750	$1,800	$2.40	23d	1	0.07mi
5 Vista Palm Ln #203 Vero Beach, FL	1.0	1.5	750	$1,500	$2.00	15d	1	0.18mi
28 Pine Arbor Ln #103 Vero Beach, FL	1.0	1.5	750	$1,200	$1.60	23d	1	0.20mi
37 Pine Arbor Ln #101 Vero Beach, FL	2.0	2.0	1000	$1,600	$1.60	15d	1	0.29mi
36 Pine Arbor Ln Vero Beach, FL	2.0	2.0	1000	$1,550	$1.55	23d	2	0.32mi
58 Woodland Dr #206 Vero Beach, FL	2.0	2.0	1000	$1,800	$1.80	15d	1	0.45mi
50 Woodland Dr #203 Vero Beach, FL	1.0	1.5	750	$1,350	$1.80	15d	1	0.53mi
65 Woodland Dr #207 Vero Beach, FL	2.0	2.0	1000	$1,600	$1.60	23d	1	0.54mi
355 6th Rd SW Vero Beach, FL	3.0	1.0	880	$1,800	$2.05	23d	1	0.57mi
710 Timber Ridge Trl SW Vero Beach, FL	3.0	2.0	1498	$2,500	$1.67	23d	1	0.59mi
650 N Center Ct SW Unit 102 Vero Beach, FL	3.0	2.0	1440	$2,100	$1.46	23d	1	0.59mi
86 Crooked Tree Ln #102 Vero Beach, FL	2.0	2.0	1000	$2,000	$2.00	15d	1	0.60mi
85 Crooked Tree Ln #203 Vero Beach, FL	1.0	1.5	750	$1,450	$1.93	23d	1	0.62mi
734 5th Pl SW Vero Beach, FL	3.0	1.0	1402	$1,800	$1.28	23d	1	0.63mi
80 Crooked Tree Ln #106 Vero Beach, FL	2.0	2.0	1000	$1,900	$1.90	15d	1	0.67mi
161 6th Ct SW Vero Beach, FL	2.0	1.0	1298	$1,590	$1.22	15d	1	0.69mi
721 Timber Ridge Trl SW Unit D Vero Beach, FL	2.0	2.0	1368	$2,300	$1.68	23d	1	0.74mi
95 Spring Lake Dr #103 Vero Beach, FL	1.0	1.5	750	$1,600	$2.13	23d	1	0.75mi
103 Royal Oak Dr #106 Vero Beach, FL	2.0	2.0	1000	$1,800	$1.80	15d	1	0.76mi
102 Royal Oak Dr #105 Vero Beach, FL	1.0	1.5	750	$1,550	$2.07	23d	1	0.81mi
43 Vista Gardens Trl #205 Vero Beach, FL	1.0	1.5	750	$1,450	$1.93	23d	1	1.19mi
23 Vista Gardens Trl #203 Vero Beach, FL	1.0	1.5	750	$1,500	$2.00	23d	1	1.24mi
670 E Lake Jasmine Cir #106 Vero Beach, FL	2.0	2.0	1414	$2,750	$1.94	23d	1	1.27mi
655 W Lake Jasmine Cir #207 Vero Beach, FL	2.0	2.0	1213	$1,850	$1.53	15d	1	1.29mi
740 Lake Orchid Cir #109 Vero Beach, FL	2.0	2.0	1200	$2,000	$1.67	23d	1	1.31mi
720 Lake Orchid Cir #203 Vero Beach, FL	2.0	2.0	1414	$1,500	$1.06	23d	1	1.31mi
26 Vista Gardens Trl #203 Vero Beach, FL	1.0	1.5	750	$1,350	$1.80	23d	1	1.33mi
36 Vista Gardens Trl #201 Vero Beach, FL	2.0	2.0	1000	$1,390	$1.39	23d	1	1.34mi
34 Vista Gardens Trl #107 Vero Beach, FL	2.0	2.0	1000	$1,350	$1.35	23d	1	1.35mi
35 Vista Gardens Trl #205 Vero Beach, FL	1.0	1.5	934	$1,400	$1.50	23d	1	1.36mi
4 Vista Gardens Trl #207 Vero Beach, FL	2.0	2.0	1000	$1,550	$1.55	15d	1	1.37mi
11 Vista Gardens Trl #106 Vero Beach, FL	2.0	2.0	1000	$1,600	$1.60	23d	1	1.37mi
28 Vista Gardens Trl #102 Vero Beach, FL	2.0	2.0	1000	$1,550	$1.55	23d	1	1.37mi
528 7th Sq #102 Vero Beach, FL	2.0	2.0	1095	$3,000	$2.74	23d	1	1.47mi

HOA detail

• Monthly dues: $622 · $7,464/yr

Listing history 23 events

1. 2026-06-22
   days on market $127,000 Active 95 DOM
2. 2026-06-19
   days on market $127,000 Active 93 DOM
3. 2026-06-18
   days on market $127,000 Active 92 DOM
4. 2026-06-17
   days on market $127,000 Active 91 DOM
5. 2026-06-16
   days on market $127,000 Active 90 DOM
6. 2026-06-15
   days on market $127,000 Active 89 DOM
7. 2026-06-14
   days on market $127,000 Active 87 DOM
8. 2026-06-13
   days on market $127,000 Active 86 DOM
9. 2026-06-10
   days on market $127,000 Active 84 DOM
10. 2026-06-09
    days on market $127,000 Active 83 DOM
11. 2026-06-08
    days on market $127,000 Active 82 DOM
12. 2026-06-07
    days on market $127,000 Active 81 DOM
13. 2026-06-05
    days on market $127,000 Active 78 DOM
14. 2026-06-03
    price $127,000 Active 76 DOM
15. 2026-06-02
    days on market $135,000 Active 76 DOM
16. 2026-06-01
    days on market $135,000 Active 75 DOM
17. 2026-05-31
    days on market $135,000 Active 74 DOM
18. 2026-05-30
    days on market $135,000 Active 73 DOM
19. 2026-03-18
    listed $135,000 Active
20. 2014-03-04
    soldstatus $43,900
21. 2014-02-28
    soldstatus $43,900 402-char remark

    Show marketing remark (402 chars)

    THIS IS A WELL PRICED (PLAN A) DOWNSTAIRS TURNKEY CONDO IN A VERY CONVENIENT LOCATION COMING IN AT THE SOUTH ENTRANCE. IT NEEDS ALITTLE TLC, BUT WILL BE VERY NICE ONCE DONE. YOU CAN EVEN WALK TO THE SOUTH VERO SQUARE SHOPPING ON THE SIDEWALK OR MAYBE TAKE A BIKE IF YOU FEEL LIKE GETTING SOME EXERCISE & NOT USE YOUR CAR. THE COMPLEX HAS ALOT GOING FOR IT. GOLF IS AVAILABLE & A RESTAURANT.

22. 1987-09-01
    soldstatus $50,000
23. 1978-06-01
    soldstatus $36,500

ⓘ 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: $459 · $38/mo
• Projected year-2 tax: $1,054 · $88/mo
• Expected delta: +$595/yr (+$50/mo · 129.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,638
• − Mortgage interest: −$7,114
• − Property taxes: −$459
• − Insurance: −$1,432
• − Repairs & maintenance: −$1,651
• − Management: −$1,651
• − HOA: −$7,464
• − Depreciation: −$3,695
• Taxable loss: −$2,828
• Est. tax savings @ 24.0%: +$679
• After-tax cash flow: $-365/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 — Florida Ridge

• Score: 72/100
• State rank: #353
• US rank: #6129

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florida Ridge, FL
• County: Indian River County · 143,738 people
• City population: 25,629
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 25,522
• Household income: $66,664
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 425.0

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 (70%)
• Race & ethnicity: White 70% Black 13% Hispanic / Latino 12% Two or more races 5% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 4% Lithuanian 4% Italian 3%
• Foreign-born: 12% · Canada, Jamaica, Dominican Republic
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -182.13%
• Current HPI: 333.3274
• Rent YoY: ▲ 4.18%
• 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

+269.9% since first listed

5 events — show timeline

• 2026-03-18 Listed $135,000 RAIRCMLS
• 2014-03-04 Sold (Public Records) $43,900 Public Records
• 2014-02-28 Sold (MLS) $43,900 RAIRCMLS
• 1987-09-01 Sold (Public Records) $50,000 Public Records
• 1978-06-01 Sold (Public Records) $36,500 Public Records

Property tax history

-2.8%/yr

Latest (2025): $459 · +8.6% YoY. Source: county tax records.