1255 16th Ave SW · Florida Ridge, FL 32962

$240,000

2 bd · 2.0 ba · 980 sqft · SingleFamily public records · 105 Days on market

Built 1984 10,018 sqft lot Est $224k · 7% over

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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 +12.0/30.0
• ARV discount +4.4/15.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• DSCR +3.5/10.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Ditch the landlord for this West Vero gem! Perfect for a couple or savvy investor, this cozy 2BR/1BA features a brand-new metal roof and no HOA! Rest easy with the peace of mind that comes with a 2021 water heater and shutters for every window. Enjoy a renovated bathroom, new stove, and a cool garage conversion perfect for a flex room. The large fenced yard with an epoxy patio is prime for BBQs, and tile floors make cleaning a breeze. Near Osceola Magnet and the IG Center, it has washer/dryer included. Whether you’re starting out or building your rental portfolio, this is the one!

Key facts

• Metal roof
• Renovated bathroom
• Tile floors

Tags

• METAL ROOF
• RENOVATED BATHROOM
• COOL GARAGE CONVERSION
• LARGE FENCED YARD
• EPOXY PATIO
• TILE FLOORS

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: No association; Community has gutters

Exterior

• Parking: Driveway
• Security: Smoke detector(s)
• Utilities: Public water; Septic tank
• Home design: Single-story home; Faces east; Has view
• Construction: Block and concrete construction; Metal roof
• Exterior features: Fenced yard; Patio; Rain gutters

Interior

• Kitchen: Range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Bedroom (11x11); Bedroom (12x11); Converted Garage (12x11)
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air (electric, one unit)
• Interior features: Blinds; Unfurnished
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-57 ($-684/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (26.1% below list).
• Recommended offer: $177k (26.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: schools D, employment D, 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.
• Market conditions: Rents rising fast (+4.2%/yr); 348 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).
• This rent runs 32% 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 $2k of loan paydown is wiped out by about $7k 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 105 days — a 9% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y 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.
• Current owner paid $94k; list at $240k implies a 155% gain — meaningful room to come down on a strong offer.

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 $177,465 (26.1% 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 105 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.74% ✗
• Cap rate: 6.01%
• Cash-on-cash: -1.02%
• DSCR: 0.95
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $224,420
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1340 18th Ave SW	0.16mi	2/2.0	951 (-3%)	2mo	$249,900	$263	86
1140 11th Ter SW	0.36mi	3/2.0 (+1)	984 (+0%)	3mo	$215,000	$218	75
1270 SW 11th Ct Ct SW	0.39mi	2/2.0	1,002 (+2%)	10mo	$216,999	$217	70
1676 17th Pl SW	0.63mi	2/2.0	960 (-2%)	1mo	$195,000	$203	67
1286 15th Ave SW	0.09mi	2/2.0	1,095 (+12%)	12mo	$275,000	$251	66
1175 13th Ave SW	0.18mi	3/2.0 (+1)	1,118 (+14%)	2mo	$270,000	$242	61
1256 16th Ave SW	0.03mi	3/1.0 (+1)	1,104 (+13%)	10mo	$225,000	$204	60
1395 25th Ave Ave SW	0.58mi	2/2.0	1,051 (+7%)	2mo	$239,000	$227	60
1420 18th Ave SW	0.25mi	2/1.0	1,090 (+11%)	9mo	$250,000	$229	59
1375 26th Ave SW	0.67mi	2/1.0	1,036 (+6%)	0mo	$153,000	$148	55
1545 22nd Ave SW	0.55mi	3/2.0 (+1)	938 (-4%)	10mo	$265,000	$283	54
1465 24th Ave SW	0.56mi	3/2.0 (+1)	1,100 (+12%)	11mo	$285,000	$259	39

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: -16.9%
• Equity multiple: 0.40×
• Total profit: $-40,487
• Equity at exit: $35,785

10-year hold

• IRR: -7.0%
• Equity multiple: 0.53×
• Total profit: $-31,362
• Equity at exit: $20,751

Cash invested: $67,200 (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: 348
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,775 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$100 /mo · $1,205/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $-57

Break-even live

Break-even rent $1,847

Max offer price $229,925

Occupancy floor 98%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2975 5th St SW Unit B Vero Beach, FL	1.0	1.0	650	$1,600	$2.46	21d	1	1.31mi
355 6th Rd SW Vero Beach, FL	3.0	1.0	880	$1,800	$2.05	21d	1	1.49mi

Listing history 28 events

1. 2026-06-19
   days on market $240,000 Active 105 DOM
2. 2026-06-18
   days on market $240,000 Active 104 DOM
3. 2026-06-17
   days on market $240,000 Active 103 DOM
4. 2026-06-16
   days on market $240,000 Active 102 DOM
5. 2026-06-15
   days on market $240,000 Active 101 DOM
6. 2026-06-14
   days on market $240,000 Active 99 DOM
7. 2026-06-13
   days on market $240,000 Active 98 DOM
8. 2026-06-10
   days on market $240,000 Active 96 DOM
9. 2026-06-09
   days on market $240,000 Active 95 DOM
10. 2026-06-08
    days on market $240,000 Active 94 DOM
11. 2026-06-07
    days on market $240,000 Active 93 DOM
12. 2026-06-05
    days on market $240,000 Active 90 DOM
13. 2026-06-02
    days on market $240,000 Active 88 DOM
14. 2026-06-01
    days on market $240,000 Active 87 DOM
15. 2026-05-31
    days on market $240,000 Active 86 DOM
16. 2026-05-30
    days on market $240,000 Active 85 DOM
17. 2026-03-12
    listed $240,000 Active
18. 2026-03-06
    listed $240,000 Active
19. 2016-09-30
    soldstatus $94,000
20. 2016-09-02
    soldstatus $94,000
21. 2016-07-20
    historical
22. 2016-07-16
    listed $94,000
23. 2016-07-16
    listed $94,000
24. 2014-04-23
    soldstatus $46,800
25. 2009-06-23
    soldstatus $65,000
26. 2009-06-17
    soldstatus $50,000
27. 2006-02-01
    soldstatus $115,000
28. 2001-01-11
    soldstatus $57,000

ⓘ 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: $1,205 · $100/mo
• Projected year-2 tax: $1,992 · $166/mo
• Expected delta: +$787/yr (+$66/mo · 65.3%)

ⓘ 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 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,296
• − Mortgage interest: −$13,444
• − Property taxes: −$1,205
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,704
• − Management: −$1,704
• − Depreciation: −$6,982
• Taxable loss: −$4,942
• Est. tax savings @ 24.0%: +$1,186
• After-tax cash flow: $502/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

+321.1% since first listed

12 events — show timeline

• 2026-03-12 Listed $240,000 SCMLS
• 2026-03-06 Listed $240,000 RAIRCMLS
• 2016-09-30 Sold (Public Records) $94,000 Public Records
• 2016-09-02 Sold (MLS) $94,000 RAIRCMLS
• 2016-07-20 Listing Removed — Beaches MLS
• 2016-07-16 Listed $94,000 Beaches MLS
• 2016-07-16 Listed $94,000 SCMLS
• 2014-04-23 Sold (Public Records) $46,800 Public Records
• 2009-06-23 Sold (Public Records) $65,000 Public Records
• 2009-06-17 Sold (Public Records) $50,000 Public Records
• 2006-02-01 Sold (Public Records) $115,000 Public Records
• 2001-01-11 Sold (Public Records) $57,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,205 · +26.5% YoY. Source: county tax records.