471 Tropical Isles Cir · Indian River Estates, FL 34982

$55,000

2 bd · 1.5 ba · 1,120 sqft · Manufactured · 576 Days on market

Built 1991 Est $75k · 27% under ↓ 52% 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

Lovely mobile home in a 55+ community. TURN KEY! This home is located in a quiet and peaceful neighborhood. The home features 1 bedroom plus den/office, could easily be a second bedroom, cozy living room that opens up to the dining area. Huge kitchen with lots of cabinet space. Spacious bedroom with large Walk-in closet and full bathroom. Screened patio, private storage, newer roof and newer AC. Shutters and much more. Buyer to verify measurements

Key facts

• Screened patio
• Newer ac
• Newer roof

Tags

• SCREENED PATIO
• LARGE WALK-IN CLOSET
• NEWER ROOF
• NEWER AC

Property features AI

Finance

• HOA & community: Association with clubhouse, pool, spa/hot tub, community room, manager on site; Senior community; Pets allowed (size limit applies)

Exterior

• Utilities: Public water; Public sewer; Three phase electric; Sewer available; Water available
• Home design: Manufactured home; Single-story; Faces southeast; Resale property
• Construction: Vinyl siding; Modular construction
• Exterior features: Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms (main level)
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Cathedral and vaulted ceilings; Walk-in closet(s); Partially furnished
• Laundry & utility: Laundry closet inside the home

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 34.8% 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; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $2,137/mo this rent would consume 47% 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 $380 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 576 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y ago; this cycle's ask has dropped $64k (54%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 576 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 3.88% ✓
• Cap rate: 34.83%
• Cash-on-cash: 101.91%
• DSCR: 5.53
• GRM: 2.1

CMA / ARV

• ARV (on-the-fly): $75,040
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5683 Hemingway Ct	0.22mi	2/2.0	1,144 (+2%)	1mo	$76,800	$67	84

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: —
• Equity multiple: 6.48×
• Total profit: $84,347
• Equity at exit: $8,201

10-year hold

• IRR: —
• Equity multiple: 15.64×
• Total profit: $225,467
• Equity at exit: $4,755

Cash invested: $15,400 (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: 2.1×

Monthly cashflow live

• Estimated rent: $2,137 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $1,308

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 34%

Sensitivity live

Price	-10% $1,346	-5% $1,327	+0% $1,308	+5% $1,289	+10% $1,270
Rent	-10% $1,139	-5% $1,224	+0% $1,308	+5% $1,392	+10% $1,477
Rate	-1.0pp $1,336	-0.5pp $1,322	base $1,308	+0.5pp $1,294	+1.0pp $1,279

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 10 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	24d	1	0.42mi
341 Ashley St Fort Pierce, FL	3.0	2.0	1128	$2,460	$2.18	24d	1	0.54mi
355 Johnston St Fort Pierce, FL	3.0	1.5	1118	$2,500	$2.24	24d	1	0.59mi
352 Johnston St Fort Pierce, FL	3.0	2.0	936	$2,100	$2.24	24d	1	0.61mi
330 Borraclough St Fort Pierce, FL	3.0	2.0	1404	$2,175	$1.55	15d	1	0.66mi
5300 Seagrape Dr Fort Pierce, FL	3.0	2.0	1300	$2,450	$1.88	24d	1	0.70mi
492 Salisbury Cir Fort Pierce, FL	3.0	2.5	1486	$2,395	$1.61	24d	1	0.84mi
526 Salisbury Cir Fort Pierce, FL	3.0	2.5	1486	$2,399	$1.61	15d	1	0.86mi
5315 Hickory Dr Fort Pierce, FL	3.0	2.0	1400	$2,045	$1.46	24d	1	0.86mi
699 W Weatherbee Rd Fort Pierce, FL	2.0	1.5	1100	$1,875	$1.70	24d	1	1.36mi

Listing history 37 events

1. 2026-06-21
   days on market $55,000 Active 576 DOM
2. 2026-06-18
   days on market $55,000 Active 573 DOM
3. 2026-06-17
   days on market $55,000 Active 572 DOM
4. 2026-06-16
   days on market $55,000 Active 571 DOM
5. 2026-06-15
   days on market $55,000 Active 570 DOM
6. 2026-06-14
   days on market $55,000 Active 568 DOM
7. 2026-06-13
   days on market $55,000 Active 567 DOM
8. 2026-06-10
   days on market $55,000 Active 565 DOM
9. 2026-06-09
   days on market $55,000 Active 564 DOM
10. 2026-06-08
    days on market $55,000 Active 563 DOM
11. 2026-06-07
    pricedays on market $55,000 Active 562 DOM
12. 2026-06-05
    days on market $57,500 Active 559 DOM
13. 2026-06-03
    days on market $57,500 Active 558 DOM
14. 2026-06-03
    days on market $57,500 Active 557 DOM
15. 2026-05-31
    days on market $57,500 Active 587 DOM
16. 2026-05-30
    days on market $57,500 Active 586 DOM
17. 2026-05-01
    status Active
18. 2026-04-28
    price $57,500
19. 2026-04-02
    price $59,000
20. 2026-04-02
    status Active
21. 2026-03-20
    price $62,500
22. 2026-02-26
    price $65,000
23. 2025-12-11
    price $75,000
24. 2025-11-06
    status Active
25. 2025-11-03
    historical Active Under Contract
26. 2025-11-03
    historical
27. 2025-11-03
    historical
28. 2025-09-01
    price $79,500
29. 2025-08-09
    price $85,000
30. 2025-05-02
    status Active
31. 2025-05-01
    historical
32. 2025-04-25
    price $99,900
33. 2025-01-01
    status Active
34. 2025-01-01
    historical
35. 2024-08-07
    status Active
36. 2024-08-05
    historical Active Under Contract
37. 2024-04-24
    listed $119,000 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: $25,641
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$2,051
• − Management: −$2,051
• − Depreciation: −$1,600
• Taxable income: $15,757
• Est. tax owed @ 24.0%: −$3,782
• After-tax cash flow: $11,913/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

-51.7% since first listed

21 events — show timeline

• 2026-05-01 Relisted — Beaches MLS
• 2026-04-28 Price Changed $57,500 Beaches MLS
• 2026-04-02 Price Changed $59,000 Beaches MLS
• 2026-04-02 Relisted — Beaches MLS
• 2026-03-20 Price Changed $62,500 Beaches MLS
• 2026-02-26 Price Changed $65,000 Beaches MLS
• 2025-12-11 Price Changed $75,000 Beaches MLS
• 2025-11-06 Relisted — Beaches MLS
• 2025-11-03 Contingent — Beaches MLS
• 2025-11-03 Listing Removed — Beaches MLS
• 2025-11-03 Listing Removed — Beaches MLS
• 2025-09-01 Price Changed $79,500 Beaches MLS
• 2025-08-09 Price Changed $85,000 Beaches MLS
• 2025-05-02 Relisted — Beaches MLS
• 2025-05-01 Listing Removed — Beaches MLS
• 2025-04-25 Price Changed $99,900 Beaches MLS
• 2025-01-01 Relisted — Beaches MLS
• 2025-01-01 Listing Removed — Beaches MLS
• 2024-08-07 Relisted — Beaches MLS
• 2024-08-05 Contingent — Beaches MLS
• 2024-04-24 Listed $119,000 Beaches MLS