2890 1st Pl · Vero Beach South, FL 32968

$299,900

3 bd · 2.0 ba · 1,160 sqft · SingleFamily public records · 97 Days on market

Built 1987 7,405 sqft lot Est $256k · 17% over

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Why this score? — see what drove the F 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 +13.9/30.0
• DSCR +4.2/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• 1% rule +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3-bedroom, 2-bath, garage home on a corner lot. Improvements include a 2022 roof, updated kitchen, laminate flooring, and updated plumbing, giving the home a clean and move-in ready feel. Home has a paver driveway with room for a boat or RV. No HOA! Excellent location, convenient to shopping, schools, beaches and boat ramps!

Key facts

• Laminate flooring
• Paver driveway
• Updated kitchen

Tags

• CORNER LOT
• 2022 ROOF
• UPDATED KITCHEN
• LAMINATE FLOORING
• UPDATED PLUMBING
• PAVER DRIVEWAY

Property features AI

Exterior

• Parking: Attached garage (1 car); Covered parking space; Driveway; Garage door opener; Paver block driveway; RV access/parking
• Utilities: Public water; Septic tank sewer; Electricity connected; Water connected
• Home design: Single-family residence; One story; Faces south; Resale condition
• Construction: Frame construction; Composition/shingle roof; Built as one-story; Living area recorded as 1,160
• Exterior features: Open patio; Open porch; Patio and porch areas

Interior

• Kitchen: Dishwasher; Electric range; Gas range; Microwave; Refrigerator
• Bedrooms: Three main-level bedrooms
• Flooring: Tile flooring
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning; Ceiling fan(s)
• Interior features: Water purifier (owned); Water softener (owned); Electric water heater
• Laundry & utility: Washer/dryer hookup (appliances not specified)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $31 ($376/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $262k (12.7% below list).
• Recommended offer: $262k (12.7% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.3% in Vero Beach South — 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 78/100 on livability (#163 in FL, #2,445 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A; Watch: amenities 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: Citrus Elementary School (math 52% / reading 52%, grade C-, #990 of 2,144 statewide, top 48%, 666 students, 78% 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: 187 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 97 days — a 9% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $261,835 (12.7% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 13% 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. 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?
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: 0.87% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.45%
• DSCR: 1.02
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $256,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2545 1st Pl N	0.17mi	3/2.0	1,232 (+6%)	4mo	$305,500	$248	78
3236 1st Rd	0.27mi	3/2.0	1,200 (+3%)	6mo	$265,000	$221	77
306 35th Ave	0.43mi	3/2.0	1,186 (+2%)	3mo	$240,000	$202	74
3196 1st Ln	0.19mi	3/2.0	1,274 (+10%)	2mo	$232,000	$182	73
3246 1st St	0.26mi	2/2.0 (-1)	1,117 (-4%)	6mo	$225,900	$202	72
525 22nd Ave	0.69mi	3/2.0	1,150 (-1%)	2mo	$260,000	$226	64
2424 1st Pl SW	0.40mi	3/2.0	1,325 (+14%)	0mo	$175,000	$132	58
3496 1st St SW	0.40mi	2/2.0 (-1)	1,023 (-12%)	1mo	$270,000	$264	56
2431 4th Pl	0.49mi	2/2.0 (-1)	1,041 (-10%)	3mo	$287,000	$276	52
355 20th Ave	0.66mi	2/2.0 (-1)	1,224 (+6%)	4mo	$235,000	$192	52
250 20th Ave SW	0.69mi	3/2.0	1,320 (+14%)	0mo	$300,000	$227	44
56 1st Ct SW	0.72mi	3/2.0	1,325 (+14%)	6mo	$290,000	$219	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.45×
• Total profit: $-46,584
• Equity at exit: $44,716

10-year hold

• IRR: -7.1%
• Equity multiple: 0.55×
• Total profit: $-37,924
• Equity at exit: $25,930

Cash invested: $83,972 (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 32968

• Home prices YoY: -27.5%
• Active inventory: 187
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,618 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$340 /mo · $4,074/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$550
• Net cashflow: $31

Break-even live

Break-even rent $2,579

Max offer price $299,900

Occupancy floor 94%

Sensitivity live

Price	-10% $201	-5% $116	+0% $31	+5% $-54	+10% $-138
Rent	-10% $-176	-5% $-72	+0% $31	+5% $135	+10% $238
Rate	-1.0pp $182	-0.5pp $108	base $31	+0.5pp $-46	+1.0pp $-125

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2624 2nd St SW Vero Beach, FL	2.0	1.0	748	$1,750	$2.34	15d	1	0.27mi
248 27th Ave SW Vero Beach, FL	3.0	2.0	836	$1,700	$2.03	22d	1	0.34mi
405 27th Ct Vero Beach, FL	3.0	2.0	1100	$1,850	$1.68	15d	1	0.37mi
3285 3rd Pl Unit 1018166P Vero Beach, FL	3.0	2.0	1420	$3,708	$2.61	15d	1	0.38mi
3673 2nd Pl SW Vero Beach, FL	3.0	2.0	1410	$4,800	$3.40	22d	1	0.69mi
3673 2nd Pl SW Vero Beach, FL	3.0	2.0	1410	$4,800	$3.40	15d	1	0.69mi
275 16th Ave Vero Beach, FL	2.0	2.0	1144	$1,600	$1.40	15d	1	0.88mi
1816 5th Pl Unit 1018162P Vero Beach, FL	2.0	2.0	1323	$3,841	$2.90	22d	1	0.90mi
2543 Stockbridge Sq SW Vero Beach, FL	3.0	2.0	1464	$2,200	$1.50	15d	1	1.00mi
1702 7th St Vero Beach, FL	3.0	2.0	1230	$2,100	$1.71	15d	1	1.09mi
2619 Langrove Ln SW Unit 2619 Vero Beach, FL	3.0	2.0	1464	$2,450	$1.67	22d	1	1.12mi
826 Middleton Dr SW Vero Beach, FL	3.0	2.0	1464	$2,150	$1.47	22d	1	1.14mi
2565 Langrove Ln SW Vero Beach, FL	3.0	2.0	1464	$2,000	$1.37	22d	1	1.16mi

Listing history 38 events

1. 2026-06-22
   days on market $299,900 Active 97 DOM
2. 2026-06-19
   days on market $299,900 Active 95 DOM
3. 2026-06-18
   days on market $299,900 Active 94 DOM
4. 2026-06-17
   days on market $299,900 Active 93 DOM
5. 2026-06-16
   days on market $299,900 Active 92 DOM
6. 2026-06-15
   days on market $299,900 Active 91 DOM
7. 2026-06-14
   days on market $299,900 Active 89 DOM
8. 2026-06-13
   days on market $299,900 Active 88 DOM
9. 2026-06-10
   days on market $299,900 Active 86 DOM
10. 2026-06-09
    days on market $299,900 Active 85 DOM
11. 2026-06-08
    days on market $299,900 Active 84 DOM
12. 2026-06-07
    days on market $299,900 Active 83 DOM
13. 2026-06-05
    days on market $299,900 Active 80 DOM
14. 2026-06-02
    days on market $299,900 Active 78 DOM
15. 2026-06-01
    days on market $299,900 Active 77 DOM
16. 2026-05-31
    days on market $299,900 Active 76 DOM
17. 2026-05-30
    days on market $299,900 Active 75 DOM
18. 2026-04-20
    price $299,900
19. 2026-03-16
    listed $315,000 Active
20. 2026-03-10
    listed $315,000 Active 331-char remark

    Show marketing remark (331 chars)

    This 3-bedroom, 2-bath, garage home on a corner lot. Improvements include a 2022 roof, updated kitchen, laminate flooring, and updated plumbing, giving the home a clean and move-in ready feel. Home has a paver driveway with room for a boat or RV. No HOA! Excellent location, convenient to shopping, schools, beaches and boat ramps!

21. 2025-04-14
    price $325,000
22. 2025-03-19
    price $330,000
23. 2025-01-22
    listed $339,000 Active
24. 2024-11-25
    listed $325,000 Active
25. 2024-11-12
    historical
26. 2022-12-02
    soldstatus $290,000
27. 2022-11-30
    soldstatus $290,000 Closed
28. 2022-11-30
    historical
29. 2022-11-30
    soldstatus $290,000 Closed
30. 2022-11-21
    historical Contingent
31. 2022-11-21
    historical Active Under Contract
32. 2022-11-20
    historical Active Under Contract
33. 2022-11-18
    listed $299,000 Active
34. 2022-11-18
    listed $299,000 Active
35. 2022-11-18
    listed $299,000 Active
36. 2022-11-13
    historical $299,000
37. 1993-02-01
    soldstatus $58,000
38. 1987-09-01
    soldstatus $58,800

ⓘ 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: $4,074 · $340/mo
• Projected year-2 tax: $4,074 · $340/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 · 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: $31,420
• − Mortgage interest: −$16,799
• − Property taxes: −$4,074
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,514
• − Management: −$2,514
• − Depreciation: −$8,724
• Taxable loss: −$4,704
• Est. tax savings @ 24.0%: +$1,129
• After-tax cash flow: $1,505/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 — Vero Beach South

• Score: 78/100
• State rank: #163
• US rank: #2445

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vero Beach South, FL
• Population (ZIP): 15,576

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 12% Two or more races 11% Black 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Spanish 7% Other Indo-European 1% Chinese 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: ▼ -118.63%
• Current HPI: 312.136
• 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

+410.0% since first listed

21 events — show timeline

• 2026-04-20 Price Changed $299,900 Beaches MLS
• 2026-03-16 Listed $315,000 Beaches MLS
• 2026-03-10 Listed $315,000 RAIRCMLS
• 2025-04-14 Price Changed $325,000 RAIRCMLS
• 2025-03-19 Price Changed $330,000 RAIRCMLS
• 2025-01-22 Listed $339,000 RAIRCMLS
• 2024-11-25 Listed $325,000 RAIRCMLS
• 2024-11-12 Coming Soon — RAIRCMLS
• 2022-12-02 Sold (Public Records) $290,000 Public Records
• 2022-11-30 Sold (MLS) $290,000 RAIRCMLS
• 2022-11-30 Listing Removed — SCMLS
• 2022-11-30 Sold (MLS) $290,000 Beaches MLS
• 2022-11-21 Contingent — SCMLS
• 2022-11-21 Contingent — Beaches MLS
• 2022-11-20 Contingent — RAIRCMLS
• 2022-11-18 Listed $299,000 RAIRCMLS
• 2022-11-18 Listed $299,000 SCMLS
• 2022-11-18 Listed $299,000 Beaches MLS
• 2022-11-13 Coming Soon $299,000 RAIRCMLS
• 1993-02-01 Sold (Public Records) $58,000 Public Records
• 1987-09-01 Sold (Public Records) $58,800 Public Records

Property tax history

+19.7%/yr

Latest (2025): $4,074 · +4.6% YoY. Source: county tax records.