2023 St Lucie Blvd #123 · Fort Pierce North, FL 34946

$25,000

2 bd · 1.0 ba · 430 sqft · Manufactured public records · 42 Days on market

Built 1970 $255/mo HOA

---

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 +15.0/30.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Don't miss this excellent value in the desirable Whispering Creek 55+ CO-OP community. .. featuring $0 lot lease and super low monthly fee - $255. This quaint mobile home comes with an owner's share in the Co-Op, is turnkey, and is being sold fully furnished. Conveniently located on the same block as the clubhouse, pool, & laundry facility, and situated just minutes to downtown Fort Pierce and the area's blue-water beaches. This charming 1-bedroom, 1-bath home also offers an extended Florida room, currently utilized as a guest space. Schedule your showing today and see for yourself one of the best values in the park!

Key facts

• Blue-water beaches
• Turnkey
• Fully furnished

Tags

• OWNER'S SHARE IN THE CO-OP
• TURNKEY
• FULLY FURNISHED
• EXTENDED FLORIDA ROOM
• BLUE-WATER BEACHES

Property features AI

Finance

• Other: Resale condition
• HOA & community: Part of Whispering Creek 55+ co-op; Monthly association fee of $255; Association covers grounds maintenance and common areas; Community amenities: billiard room, fitness center, laundry, pool, shuffleboard, bocce ball, community room, kitchen facilities; Senior community; Pets not allowed

Exterior

• Parking: 2 parking spaces; No carport
• Utilities: Public water; Public sewer; Sewer connected; Water available
• Home design: Single family residence; One story; North-facing
• Construction: Built with other construction materials; Other roof
• Exterior features: Not waterfront; Entry level is 1

Interior

• Kitchen: Refrigerator
• Bedrooms: 1 bedroom on main level
• Flooring: Carpet; Linoleum
• Bathrooms: 1 full bathroom
• Heating & cooling: Window/wall heating; Wall/window cooling units
• Interior features: Closet cabinetry; Furnished

🏢 Co-op / cooperative unit. The $25,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $25k.

Deal economics

• At list price, monthly cash flow is $679 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $24k (3.0% below list) — sets the bar for market timing.
• Cap rate 42.1% vs local median 5.1% in Fort Pierce North — 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 69/100 on livability (#480 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F, employment F, health & safety D-.
• 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: 133 active listings in the ZIP; 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($173 loan paydown + $1k appreciation (5.9% local appreciation)).
• St. Lucie County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($24k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe 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 $24,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 5.90% ✓
• Cap rate: 42.08%
• Cash-on-cash: 127.81%
• DSCR: 6.69
• GRM: 1.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.22×
• Total profit: $50,568
• Equity at exit: $15,591

10-year hold

• IRR: —
• Equity multiple: 17.48×
• Total profit: $115,333
• Equity at exit: $28,166

Cash invested: $7,000 (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 34946

• Home prices YoY: 1.7%
• Active inventory: 133
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,474 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$22 /mo · $266/yr
• Insurance: −$10
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$255
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $679

Break-even live

Break-even rent $614

Max offer price $25,000

Occupancy floor 49%

Sensitivity live

Price	-10% $693	-5% $686	+0% $679	+5% $672	+10% $665
Rent	-10% $563	-5% $621	+0% $679	+5% $737	+10% $796
Rate	-1.0pp $692	-0.5pp $685	base $679	+0.5pp $673	+1.0pp $666

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $255 · $3,060/yr
• Likely covers: waterpool

Listing history 8 events

1. 2026-06-05
   days on market $25,000 Active 42 DOM
2. 2026-06-03
   days on market $25,000 Active 41 DOM
3. 2026-06-02
   days on market $25,000 Active 40 DOM
4. 2026-06-01
   days on market $25,000 Active 39 DOM
5. 2026-05-31
   days on market $25,000 Active 38 DOM
6. 2026-05-30
   days on market $25,000 Active 37 DOM
7. 2026-04-22
   listed $25,000 Active
8. 2001-12-20
   soldstatus $4,400,000

ⓘ 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: $266 · $22/mo
• Projected year-2 tax: $266 · $22/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,685
• − Mortgage interest: −$1,400
• − Property taxes: −$266
• − Insurance: −$922
• − Repairs & maintenance: −$1,415
• − Management: −$1,415
• − HOA: −$3,060
• − Depreciation: −$727
• Taxable income: $8,479
• Est. tax owed @ 24.0%: −$2,035
• After-tax cash flow: $6,114/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 North

• Score: 69/100
• State rank: #480
• US rank: #8764

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Pierce North, FL
• Population (ZIP): 6,588

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Black 36% Hispanic / Latino 34% White 26% Two or more races 18% Native American 4% Asian 1%
• Hispanic origin (detail): Mexican 16% Puerto Rican 2% Cuban 2% Salvadoran 1%
• Common ancestry: Lithuanian 1% Slovak 1% Portuguese 1%
• Foreign-born: 25% · Canada, Dominican Republic
• Languages at home: 70% English-only · Spanish 28% Other Indo-European 1%

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: ▲ 5.92%
• Current HPI: 351.3324
• Rent YoY: —
• Metro: —
• 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

-99.4% since first listed

2 events — show timeline

• 2026-04-22 Listed $25,000 Beaches MLS
• 2001-12-20 Sold (Public Records) $4,400,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $266 · +2.4% YoY. Source: county tax records.