2741 Ocean Dr Unit 31D · Vero Beach, FL 32963

$449,000

2 bd · 2.0 ba · 1,758 sqft · Townhouse public records · 46 Days on market

Built 1972 $899/mo HOA · 16% of rent

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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 +22.6/30.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Rent growth +5.0/5.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Impressive first floor condo with 1,700 sq. ft. of living space. Bright corner unit with lots of light features a large living room, formal dining room, newer kitchen, 2 walk-in closets in master, glass enclosed porch, tile floors and crown molding. Lovely front covered porch overlooking fountain. Perfect location across from beach access & steps to shops. Sizes approx. /subj. to error.

Key facts

• Newer ac
• Natural light
• Impact glass

Tags

• STEPS TO HUMISTON PARK
• NATURAL LIGHT
• IMPACT GLASS
• EASY CARE TILE FLOORS
• NEWER AC
• CROWN MOLDING

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Managed by First Service Residential; HOA fee of $899 per month; HOA covers water, sewer and trash; Dues paid quarterly; Senior community

Exterior

• Parking: Assigned uncovered parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: 2-story building
• Construction: Block and concrete construction; Rolled/hot mop roof
• Exterior features: Covered porch; Porch; Has view; Faces west; Property is attached

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Disposal; Electric water heater
• Bedrooms: Bedroom (12x15); Bedroom (13x18)
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Crown molding; Walk-in closet(s); Blinds
• Laundry & utility: In-unit laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $449k.

Deal economics

• At list price, monthly cash flow is $765 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $449k).
• Recommended offer: $436k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 2.9% in Vero Beach — 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 80/100 on livability (#116 in FL, #1,784 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, health & safety A+; Watch: employment D+, amenities D.
• 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; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 45% 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 $3k of loan paydown is wiped out by about $13k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $126k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $26k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $325k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $435,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.25% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.30%
• DSCR: 1.32
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $1,242,906
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2718 Cardinal Dr	0.09mi	2/2.5	1,712 (-3%)	2mo	$975,000	$570	88
1026 Flamevine Ln #202	0.10mi	2/2.0	1,780 (+1%)	11mo	$675,000	$379	84
2525 Ocean Dr #3	0.07mi	3/3.5 (+1)	1,800 (+2%)	3mo	$1,400,000	$778	79
2523 Ocean Dr #2	0.07mi	3/3.5 (+1)	1,800 (+2%)	3mo	$1,575,000	$875	79
3579 Ocean Dr	0.71mi	3/3.0 (+1)	1,909 (+9%)	1mo	$1,350,000	$707	43

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 1.2%
• Equity multiple: 1.05×
• Total profit: $5,995
• Equity at exit: $66,947

10-year hold

• IRR: 15.8%
• Equity multiple: 2.63×
• Total profit: $204,454
• Equity at exit: $38,821

Cash invested: $125,720 (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: 6.7×

Monthly cashflow live

• Estimated rent: $5,603 high
• Mortgage (P&I): −$2,355
• Tax from tax record: −$221 /mo · $2,650/yr
• Insurance: −$187
• HOA: −$899
• Vacancy / Maint / Mgmt: −$1,177
• Net cashflow: $765

Break-even live

Break-even rent $4,635

Max offer price $449,000

Occupancy floor 81%

Sensitivity live

Price	-10% $1,019	-5% $892	+0% $765	+5% $638	+10% $511
Rent	-10% $322	-5% $544	+0% $765	+5% $986	+10% $1,207
Rate	-1.0pp $991	-0.5pp $879	base $765	+0.5pp $649	+1.0pp $530

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2737 Ocean Dr Unit 21B Vero Beach, FL	2.0	2.0	1751	$3,000	$1.71	21d	1	0.03mi
2700 Ocean Dr #501 Vero Beach, FL	2.0	2.0	1450	$8,000	$5.52	21d	1	0.06mi
2704 Cardinal Dr Vero Beach, FL	2.0	1.5	1480	$3,250	$2.20	21d	1	0.08mi
1026 Flamevine Ln Vero Beach, FL	2.0	2.0	1790	$5,250	$2.93	13d	3	0.10mi
786 Dahlia Ln Vero Beach, FL	3.0	2.0	1592	$6,000	$3.77	21d	1	0.29mi
712 Iris Ln Vero Beach, FL	3.0	2.0	1924	$3,500	$1.82	21d	1	0.31mi
706 Iris Ln Vero Beach, FL	3.0	2.5	2250	$5,500	$2.44	13d	1	0.33mi
725 Dahlia Ln Vero Beach, FL	3.0	3.0	1455	$4,500	$3.09	13d	1	0.37mi
626 Gardenia Ln Vero Beach, FL	3.0	2.0	1311	$2,800	$2.14	13d	1	0.39mi
611 Gardenia Ln Vero Beach, FL	3.0	2.5	2026	$15,000	$7.40	13d	1	0.43mi
546 Flamevine Ln Vero Beach, FL	3.0	2.0	1638	$3,000	$1.83	13d	1	0.49mi
535 Flamevine Ln Vero Beach, FL	2.0	2.0	1722	$8,000	$4.65	13d	1	0.52mi
725 Acacia Rd Vero Beach, FL	3.0	2.5	1457	$5,000	$3.43	13d	1	0.60mi
518 River Dr Vero Beach, FL	3.0	3.0	2582	$12,000	$4.65	13d	1	0.62mi
530 Cypress Rd Vero Beach, FL	3.0	3.0	1677	$8,500	$5.07	13d	1	0.81mi
515 Cypress Rd Vero Beach, FL	2.0	2.0	1600	$3,500	$2.19	21d	1	0.85mi
910 Seagrape Ln Vero Beach, FL	3.0	2.0	2100	$16,000	$7.62	13d	1	0.87mi
956 Tulip Ln Vero Beach, FL	2.0	2.0	1540	$3,500	$2.27	21d	1	0.93mi
3939 Ocean Dr Unit B-407 Vero Beach, FL	3.0	2.0	1700	$7,000	$4.12	21d	1	0.99mi
326 Date Palm Rd Vero Beach, FL	3.0	2.0	1720	$10,000	$5.81	13d	1	1.01mi
4049 Ocean Dr Vero Beach, FL	2.0	2.0	1250	$3,750	$3.00	21d	2	1.04mi
4009 Silver Palm Dr #3 Vero Beach, FL	2.0	2.5	1430	$5,100	$3.57	21d	1	1.06mi
537 E Causeway Blvd Vero Beach, FL	3.0	2.0	1931	$7,500	$3.88	13d	1	1.07mi
4019 Silver Palm Dr #8 Vero Beach, FL	2.0	2.5	1460	$3,000	$2.05	21d	1	1.07mi
3816 Mockingbird Dr Vero Beach, FL	3.0	3.0	1600	$13,000	$8.12	21d	1	1.07mi
527 E Causeway Blvd Vero Beach, FL	3.0	2.5	2320	$9,900	$4.27	13d	1	1.08mi
1700 Ocean Dr Unit 302V Vero Beach, FL	2.0	2.0	1480	$3,300	$2.23	21d	1	1.08mi
1700 Ocean Dr #201 Vero Beach, FL	2.0	2.0	1480	$4,000	$2.70	21d	1	1.08mi
1616 Ocean Dr Unit 303V Vero Beach, FL	2.0	2.0	1480	$6,200	$4.19	21d	1	1.11mi
1636 Indian Bay Dr Vero Beach, FL	3.0	2.0	2086	$12,000	$5.75	13d	1	1.14mi
4141 Ocean Dr Vero Beach, FL	2.0–3.0	2.0	1200	$3,500	$2.92	13d	4	1.18mi
1513 E Camino del Rio Vero Beach, FL	3.0	2.5	2569	$12,000	$4.67	13d	1	1.19mi
4150 Highway A1A #111 Vero Beach, FL	2.0	2.0	1300	$2,600	$2.00	21d	1	1.22mi
1480 Ocean Dr Vero Beach, FL	2.0	2.0	1230	$6,250	$5.08	21d	4	1.32mi
940 Turtle Cove Ln #210 Vero Beach, FL	3.0	2.0	1916	$7,500	$3.91	21d	1	1.39mi
1890 Tarpon Ln #302 Vero Beach, FL	3.0	2.0	1844	$8,000	$4.34	21d	1	1.46mi
1840 Tarpon Ln Unit D202 Vero Beach, FL	2.0	2.0	1400	$2,500	$1.79	21d	1	1.48mi
4600 Highway A1A #507 Vero Beach, FL	2.0	2.0	1400	$5,000	$3.57	21d	1	1.49mi
4600 Highway A1A #409 Vero Beach, FL	2.0	2.0	1725	$7,500	$4.35	21d	1	1.49mi

HOA detail

• Monthly dues: $899 · $10,788/yr

Listing history 30 events

1. 2026-06-19
   days on market $449,000 Active 46 DOM
2. 2026-06-18
   days on market $449,000 Active 45 DOM
3. 2026-06-17
   days on market $449,000 Active 44 DOM
4. 2026-06-16
   days on market $449,000 Active 43 DOM
5. 2026-06-15
   days on market $449,000 Active 42 DOM
6. 2026-06-14
   days on market $449,000 Active 40 DOM
7. 2026-06-13
   pricedays on market $449,000 Active 39 DOM
8. 2026-06-10
   days on market $474,900 Active 37 DOM
9. 2026-06-09
   days on market $474,900 Active 36 DOM
10. 2026-06-08
    days on market $474,900 Active 35 DOM
11. 2026-06-07
    days on market $474,900 Active 34 DOM
12. 2026-06-05
    days on market $474,900 Active 31 DOM
13. 2026-06-02
    days on market $474,900 Active 29 DOM
14. 2026-06-01
    days on market $474,900 Active 28 DOM
15. 2026-05-31
    days on market $474,900 Active 27 DOM
16. 2026-05-30
    days on market $474,900 Active 26 DOM
17. 2026-05-04
    listed $474,900 Active
18. 2026-04-21
    price $474,900
19. 2026-04-06
    price $484,900
20. 2026-03-17
    price $489,000
21. 2026-03-03
    price $499,000
22. 2026-02-11
    price $514,900
23. 2026-01-05
    price $534,900
24. 2025-10-24
    listed $549,900 Active
25. 2015-04-30
    soldstatus $325,000
26. 2015-04-29
    soldstatus $325,000 395-char remark

    Show marketing remark (395 chars)

    Impressive first floor condo with 1,700 sq. ft. of living space. Bright corner unit with lots of light features a large living room, formal dining room, newer kitchen, 2 walk-in closets in master, glass enclosed porch, tile floors and crown molding. Lovely front covered porch overlooking fountain. Perfect location across from beach access & steps to shops. Sizes approx. /subj. to error.

27. 2015-03-01
    historical
28. 2015-02-14
    listed $325,000
29. 2009-03-11
    soldstatus $295,000
30. 2004-07-23
    soldstatus $280,000

ⓘ 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: $2,650 · $221/mo
• Projected year-2 tax: $3,727 · $311/mo
• Expected delta: +$1,077/yr (+$90/mo · 40.7%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% 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: $67,236
• − Mortgage interest: −$25,151
• − Property taxes: −$2,650
• − Insurance: −$2,245
• − Repairs & maintenance: −$5,379
• − Management: −$5,379
• − HOA: −$10,788
• − Depreciation: −$13,062
• Taxable income: $2,582
• Est. tax owed @ 24.0%: −$620
• After-tax cash flow: $8,558/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

• Score: 80/100
• State rank: #116
• US rank: #1784

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vero Beach, FL
• County: Indian River County · 143,738 people
• City population: 98,707
• 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

+69.6% since first listed

14 events — show timeline

• 2026-05-04 Listed $474,900 RAIRCMLS
• 2026-04-21 Price Changed $474,900 RAIRCMLS
• 2026-04-06 Price Changed $484,900 RAIRCMLS
• 2026-03-17 Price Changed $489,000 RAIRCMLS
• 2026-03-03 Price Changed $499,000 RAIRCMLS
• 2026-02-11 Price Changed $514,900 RAIRCMLS
• 2026-01-05 Price Changed $534,900 RAIRCMLS
• 2025-10-24 Listed $549,900 RAIRCMLS
• 2015-04-30 Sold (Public Records) $325,000 Public Records
• 2015-04-29 Sold (MLS) $325,000 RAIRCMLS
• 2015-03-01 Listing Removed — Beaches MLS
• 2015-02-14 Listed $325,000 Beaches MLS
• 2009-03-11 Sold (Public Records) $295,000 Public Records
• 2004-07-23 Sold (Public Records) $280,000 Public Records

Property tax history

-1.5%/yr

Latest (2025): $2,650 · +15.1% YoY. Source: county tax records.