5300 Highway A1a #205 · Indian River Shores, FL 32963

$360,000

2 bd · 2.0 ba · 1,300 sqft · Condo public records · 367 Days on market

Built 1975 $1474/mo HOA · 34% 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 +10.2/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Rent growth +5.0/5.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• $1,474 HOA
• Garage
• Community pool

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly HOA with amenities including beach access, elevator(s), pool, tennis courts, and pickleball courts; HOA fee includes cable TV, insurance, sewer, trash, water, common areas and elevator

Exterior

• Parking: Attached 1-car garage with garage door opener; Guest parking; 1 covered space
• Security: Fire sprinkler system; Smoke detectors
• Utilities: Public water; Public sewer; Three phase electric; Cable available
• Home design: Condominium; 4 total stories; North-facing
• Construction: Concrete construction; Composition/shingle roof; Built as resale property
• Exterior features: Zero lot line; Sidewalks; Waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air; Ceiling fan(s)
• Interior features: Built-in features; Custom mirrors; Furnished
• Laundry & utility: Inside laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $360k.

Deal economics

• At list price, monthly cash flow is $-271 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $312k (13.3% below list).
• Meets the 1% rule at list price ($4k rent vs $360k).
• Recommended offer: $312k (13.3% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 1.5% in Indian River Shores — 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 (#517 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A-; Watch: schools C-, amenities F, commute 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.
• Market conditions: Rents rising fast (+11.0%/yr); 498 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).
• This rent runs 35% of the median local income ($150k/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 $2k of loan paydown is wiped out by about $11k 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 367 days — a 12% lower offer ($317k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $139k; list at $360k implies a 159% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 34% of rent.
• 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 $312,101 (13.3% 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 367 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — 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. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.22% ✓
• Cap rate: 5.61%
• Cash-on-cash: -2.44%
• DSCR: 0.89
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.49×
• Total profit: $-51,643
• Equity at exit: $53,677

10-year hold

• IRR: 4.3%
• Equity multiple: 1.41×
• Total profit: $41,446
• Equity at exit: $31,126

Cash invested: $100,800 (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 32963

• Rents YoY: 11.0%
• Active inventory: 498
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $4,377 high
• Mortgage (P&I): −$1,888
• Tax from tax record: −$151 /mo · $1,810/yr
• Insurance: −$150
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,474
• Vacancy / Maint / Mgmt: −$919
• Net cashflow: $-271

Break-even live

Break-even rent $4,720

Max offer price $312,101

Occupancy floor —

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5300 Jimmy Buffett Memorial Hwy Unit 214 Indian River Shores, FL	2.0	2.0	1300	$5,500	$4.23	21d	1	0.02mi
5300 Jimmy Buffett Memorial Hwy Unit 408 Indian River Shores, FL	2.0	2.0	1300	$9,000	$6.92	21d	1	0.02mi
5300 Jimmy Buffett Memorial Hwy Unit 314 Indian River Shores, FL	2.0	2.0	1300	$3,000	$2.31	21d	1	0.02mi
5300 Jimmy Buffett Memorial Hwy Unit 305 Indian River Shores, FL	2.0	2.0	1300	$6,000	$4.62	21d	1	0.02mi
5300 Jimmy Buffett Memorial Hwy #301 Indian River Shores, FL	2.0	2.0	1300	$7,000	$5.38	21d	1	0.02mi
5400 Jimmy Buffett Memorial Hwy Unit B8 Indian River Shores, FL	1.0	1.5	1000	$1,650	$1.65	13d	1	0.15mi
5400 Jimmy Buffett Memorial Hwy Unit I24 Indian River Shores, FL	1.0	1.5	1000	$1,650	$1.65	21d	1	0.15mi
5400 Jimmy Buffett Memorial Hwy Unit 5400A11 Indian River Shores, FL	1.0	2.0	1000	$2,500	$2.50	21d	1	0.15mi
5400 Jimmy Buffett Memorial Hwy Unit A19 Indian River Shores, FL	1.0	1.5	900	$3,000	$3.33	21d	1	0.16mi
5400 Jimmy Buffett Memorial Hwy Indian River Shores, FL	2.0	2.0	1200	$1,800	$1.50	21d	1	0.16mi
5151 Jimmy Buffett Memorial Hwy Unit 514 Indian River Shores, FL	1.0	1.0	937	$1,750	$1.87	21d	1	0.20mi
5151 Jimmy Buffett Memorial Hwy Unit 305 Indian River Shores, FL	2.0	2.0	1339	$2,300	$1.72	21d	1	0.20mi
5151 Jimmy Buffett Memorial Hwy Unit 512 Indian River Shores, FL	2.0	2.0	1339	$4,600	$3.44	21d	1	0.20mi
5101 Highway A1A #109 Vero Beach, FL	3.0	2.0	1848	$5,500	$2.98	21d	1	0.22mi
5151 Jimmy Buffett Memorial Hwy Unit 516 Indian River Shores, FL	1.0	1.5	937	$3,000	$3.20	21d	1	0.23mi
131 Peppertree Dr #21 Vero Beach, FL	2.0	2.0	1787	$3,300	$1.85	13d	1	0.26mi
5536 Jimmy Buffett Memorial Hwy Unit 211 Vero Beach, FL	2.0	2.5	1632	$6,000	$3.68	21d	1	0.26mi
5554 Jimmy Buffett Memorial Hwy Unit 201 Indian River Shores, FL	2.0	2.0	1632	$12,000	$7.35	21d	1	0.29mi
5554 Jimmy Buffett Memorial Hwy Unit 202 Indian River Shores, FL	2.0	2.5	1632	$12,000	$7.35	21d	1	0.29mi
5100 Jimmy Buffett Memorial Hwy Unit 58G INDN RIV SHRS, FL	2.0	2.0	1170	$6,000	$5.13	21d	1	0.37mi
219 Park Shores Cir Unit 219B Vero Beach, FL	2.0	2.5	1583	$3,000	$1.90	13d	1	0.52mi
902 Tides Rd Vero Beach, FL	3.0	3.0	1810	$8,500	$4.70	13d	1	0.57mi
907 Tropic Dr Vero Beach, FL	3.0	2.0	1830	$10,000	$5.46	21d	1	0.66mi
101 E Park Shores Cir Unit 2 Indian River Shores, FL	2.0	2.0	1640	$2,600	$1.59	13d	1	0.75mi
133 E Park Shores Cir Unit 7E Vero Beach, FL	2.0	2.0	1640	$3,000	$1.83	13d	1	0.75mi
133 E Park Shores Cir Unit 4E Vero Beach, FL	2.0	2.0	1540	$3,500	$2.27	13d	1	0.75mi
4890 Bethel Creek Dr #5 Vero Beach, FL	2.0	2.5	1244	$2,200	$1.77	21d	1	0.79mi
4836 Bethel Creek Dr Unit 4836 Vero Beach, FL	2.0	2.5	1650	$3,000	$1.82	13d	1	0.81mi
4834 Bethel Creek Dr Vero Beach, FL	2.0	2.5	1500	$2,900	$1.93	21d	1	0.81mi
4800 Highway A1A #207 Vero Beach, FL	2.0	2.0	1850	$7,000	$3.78	21d	1	0.83mi
4800 Highway A1A #116 Vero Beach, FL	2.0	2.0	1822	$3,000	$1.65	21d	1	0.83mi
4800 Highway A1A #506 Vero Beach, FL	2.0	2.0	1850	$4,500	$2.43	21d	1	0.83mi
4601 Highway A1A #103 Vero Beach, FL	2.0	2.0	1600	$2,500	$1.56	21d	1	0.97mi
4601 Highway A1A #202 Vero Beach, FL	2.0	2.0	1440	$3,250	$2.26	21d	1	0.97mi
4600 Highway A1A #507 Vero Beach, FL	2.0	2.0	1400	$5,000	$3.57	21d	1	1.00mi
4600 Highway A1A #409 Vero Beach, FL	2.0	2.0	1725	$7,500	$4.35	21d	1	1.00mi
4450 Highway A1A #404 Vero Beach, FL	2.0	2.0	1080	$3,499	$3.24	13d	1	1.05mi
4450 Highway A1A #303 Vero Beach, FL	2.0	2.0	1080	$3,500	$3.24	21d	1	1.05mi
4450 Florida A1A Unit 102 Vero Beach, FL	2.0	2.0	1000	$3,900	$3.90	21d	1	1.05mi
4150 Highway A1A #111 Vero Beach, FL	2.0	2.0	1300	$2,600	$2.00	21d	1	1.27mi

HOA detail condo

• Monthly dues: $1,474 · $17,688/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-05-30
   days on market $360,000 Active 367 DOM
2. 2025-12-10
   price $360,000
3. 2025-12-10
   price $360,000
4. 2025-05-27
   listed $380,000 Active
5. 2025-05-27
   listed $380,000 Active
6. 2001-04-18
   soldstatus $139,250
7. 1999-04-07
   soldstatus $125,000
8. 1989-08-01
   soldstatus $91,000

ⓘ 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: $1,810 · $151/mo
• Projected year-2 tax: $2,988 · $249/mo
• Expected delta: +$1,178/yr (+$98/mo · 65.1%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $52,527
• − Mortgage interest: −$20,166
• − Property taxes: −$1,810
• − Insurance: −$2,598
• − Repairs & maintenance: −$4,202
• − Management: −$4,202
• − HOA: −$17,688
• − Depreciation: −$10,473
• Taxable loss: −$8,611
• Est. tax savings @ 24.0%: +$2,067
• After-tax cash flow: $-1,187/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 — Indian River Shores

• Score: 68/100
• State rank: #517
• US rank: #9512

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indian River Shores, FL
• County: Indian River County · 143,738 people
• City population: 15,008
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 15,008
• Household income: $149,923
• Rent vs Own: 4.9% rent · 95.1% own
• Severe rent burden: 119.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Slovak 5% Lithuanian 4% Italian 3%
• Foreign-born: 9% · Canada
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 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: ▼ -180.47%
• Current HPI: 312.0326
• Rent YoY: ▲ 11.04%
• 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

+295.6% since first listed

7 events — show timeline

• 2025-12-10 Price Changed $360,000 Beaches MLS
• 2025-12-10 Price Changed $360,000 RAIRCMLS
• 2025-05-27 Listed $380,000 Beaches MLS
• 2025-05-27 Listed $380,000 RAIRCMLS
• 2001-04-18 Sold (Public Records) $139,250 Public Records
• 1999-04-07 Sold (Public Records) $125,000 Public Records
• 1989-08-01 Sold (Public Records) $91,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $1,810 · +3.7% YoY. Source: county tax records.