433 N 9th St N · Fort Pierce, FL 34950

$580,000

4 bd · 4.0 ba · 1,974 sqft · MultiFamily public records · 223 Days on market

Built 1958 5,000 sqft lot

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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 +17.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• 1% rule +4.2/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Great investment property in Ft pierce Fl, total of 4 units , 3 of the units is a 2 bedrooms and 1 bathroom and 1 of the unit is 1 Room 1 Bathroom. NOI is $20,200 annually Cap Rate: 7.09% .

Key facts

• 5,000 sq ft lot
• Built 1958
• Listed 222 days

Property features AI

Finance

• Financial info: Gross income reported at $66,600; 4 total units (multifamily)
• HOA & community: No association amenities

Exterior

• Utilities: Public water; Public sewer; Three-phase electric; Sewer and water available
• Home design: Quadruplex; Resale property
• Construction: CBS construction; Tar/gravel roof; Building area approximately 1,974 (public records)
• Exterior features: Not waterfront

Interior

• Bedrooms: 4 total units (multifamily property)
• Flooring: Laminate; Tile
• Bathrooms: 4 bathrooms (total)
• Heating & cooling: Electric heating; Electric cooling; Property has heating and cooling
• Interior features: Laminate and tile flooring

What this means for you Summary

Snapshot

• This is a 3×2bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $580k.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive. Per door: $118/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $534k (7.9% below list).
• Recommended offer: $510k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 3.5% in Fort Pierce — 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 76/100 on livability (#226 in FL, #3,360 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, schools D, amenities 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.
• Market conditions: Rents rising fast (+5.9%/yr); 165 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• At $5,341/mo this rent would consume 211% of the median local household income ($30k/yr) (locally 1995% 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 $4k of loan paydown is wiped out by about $17k 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.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($510k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 18y 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 $285k; list at $580k implies a 104% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $510,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.92% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.48%
• DSCR: 1.15
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $353,346
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1706 Avenue D	0.63mi	5/4.0 (+1)	1,700 (-14%)	2mo	$305,000	$179	41

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 · 5.94% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.71×
• Total profit: $-47,784
• Equity at exit: $86,480

10-year hold

• IRR: 5.0%
• Equity multiple: 1.42×
• Total profit: $67,611
• Equity at exit: $50,148

Cash invested: $162,400 (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 34950

• Home prices YoY: -20.2%
• Rents YoY: 5.9%
• Active inventory: 165
• Price-to-rent: 35.8×

Monthly cashflow live

• Estimated rent: $5,341 medium
• Mortgage (P&I): −$3,042
• Tax from tax record: −$465 /mo · $5,578/yr
• Insurance: −$242
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,122
• Net cashflow: $471

Break-even live

Break-even rent $4,744

Max offer price $580,000

Occupancy floor 86%

Sensitivity live

Price	-10% $800	-5% $635	+0% $471	+5% $307	+10% $143
Rent	-10% $49	-5% $260	+0% $471	+5% $682	+10% $893
Rate	-1.0pp $763	-0.5pp $619	base $471	+0.5pp $321	+1.0pp $168

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,053
1× unit	1	1	$1,287
Total (4 units)			$5,341

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: $145,000
• Closing costs: $17,400
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
513 N 9th St Unit B Fort Pierce, FL	3.0	2.0	1250	$2,300	$1.84	24d	1	0.09mi
311 N 11th St Fort Pierce, FL	5.0	2.0	1616	$3,000	$1.86	15d	1	0.24mi
1102 Avenue G Fort Pierce, FL	3.0	1.5	1870	$1,800	$0.96	24d	1	0.33mi
313 S 13th St Unit B Fort Pierce, FL	5.0	3.0	1783	$3,800	$2.13	22d	1	0.57mi
318 N 24th St Fort Pierce, FL	3.0	2.5	1952	$2,600	$1.33	24d	1	1.03mi
1701 Sunrise Blvd Fort Pierce, FL	3.0	2.0	1518	$2,000	$1.32	15d	1	1.42mi

Listing history 50 events

1. 2026-06-21
   days on market $580,000 Active 223 DOM
2. 2026-06-18
   days on market $580,000 Active 220 DOM
3. 2026-06-17
   days on market $580,000 Active 219 DOM
4. 2026-06-16
   days on market $580,000 Active 218 DOM
5. 2026-06-15
   days on market $580,000 Active 217 DOM
6. 2026-06-14
   days on market $580,000 Active 215 DOM
7. 2026-06-13
   days on market $580,000 Active 214 DOM
8. 2026-06-10
   days on market $580,000 Active 212 DOM
9. 2026-06-09
   days on market $580,000 Active 211 DOM
10. 2026-06-08
    days on market $580,000 Active 210 DOM
11. 2026-06-07
    days on market $580,000 Active 209 DOM
12. 2026-06-05
    days on market $580,000 Active 206 DOM
13. 2026-06-03
    days on market $580,000 Active 205 DOM
14. 2026-06-02
    days on market $580,000 Active 204 DOM
15. 2026-06-01
    days on market $580,000 Active 203 DOM
16. 2026-05-31
    days on market $580,000 Active 202 DOM
17. 2026-05-30
    days on market $580,000 Active 201 DOM
18. 2025-11-10
    listed $580,000 Active
19. 2024-07-22
    historical $1,350
20. 2024-07-20
    historical $1,350
21. 2024-07-13
    price $1,350
22. 2024-07-13
    price $1,125
23. 2024-07-01
    listed $1,175
24. 2024-06-25
    listed $1,400
25. 2024-03-01
    historical $1,200
26. 2024-03-01
    listed $1,200
27. 2023-07-11
    historical
28. 2023-04-27
    soldstatus $285,000
29. 2022-01-11
    soldstatus $250,000
30. 2022-01-10
    soldstatus $283,900 Closed 189-char remark

    Show marketing remark (189 chars)

    Great investment property in Ft pierce Fl, total of 4 units , 3 of the units is a 2 bedrooms and 1 bathroom and 1 of the unit is 1 Room 1 Bathroom. NOI is $20,200 annually Cap Rate: 7.09% .

31. 2021-11-16
    historical Active Under Contract 189-char remark

    Show marketing remark (189 chars)

    Great investment property in Ft pierce Fl, total of 4 units , 3 of the units is a 2 bedrooms and 1 bathroom and 1 of the unit is 1 Room 1 Bathroom. NOI is $20,200 annually Cap Rate: 7.09% .

32. 2021-10-26
    price $283,900 189-char remark

    Show marketing remark (189 chars)

    Great investment property in Ft pierce Fl, total of 4 units , 3 of the units is a 2 bedrooms and 1 bathroom and 1 of the unit is 1 Room 1 Bathroom. NOI is $20,200 annually Cap Rate: 7.09% .

33. 2021-09-28
    price $285,000 189-char remark

    Show marketing remark (189 chars)

    Great investment property in Ft pierce Fl, total of 4 units , 3 of the units is a 2 bedrooms and 1 bathroom and 1 of the unit is 1 Room 1 Bathroom. NOI is $20,200 annually Cap Rate: 7.09% .

34. 2021-08-24
    price $299,000 189-char remark

    Show marketing remark (189 chars)

    Great investment property in Ft pierce Fl, total of 4 units , 3 of the units is a 2 bedrooms and 1 bathroom and 1 of the unit is 1 Room 1 Bathroom. NOI is $20,200 annually Cap Rate: 7.09% .

35. 2021-08-24
    status Active 189-char remark

    Show marketing remark (189 chars)

    Great investment property in Ft pierce Fl, total of 4 units , 3 of the units is a 2 bedrooms and 1 bathroom and 1 of the unit is 1 Room 1 Bathroom. NOI is $20,200 annually Cap Rate: 7.09% .

36. 2021-08-16
    status Pending 189-char remark

    Show marketing remark (189 chars)

    Great investment property in Ft pierce Fl, total of 4 units , 3 of the units is a 2 bedrooms and 1 bathroom and 1 of the unit is 1 Room 1 Bathroom. NOI is $20,200 annually Cap Rate: 7.09% .

37. 2021-06-15
    listed $285,000 Active 189-char remark

    Show marketing remark (189 chars)

    Great investment property in Ft pierce Fl, total of 4 units , 3 of the units is a 2 bedrooms and 1 bathroom and 1 of the unit is 1 Room 1 Bathroom. NOI is $20,200 annually Cap Rate: 7.09% .

38. 2020-01-22
    historical
39. 2019-02-18
    listed $205,000 Active
40. 2016-01-01
    historical
41. 2015-07-24
    price $80,000
42. 2015-04-14
    price $75,000
43. 2014-08-07
    listed $70,000 Active
44. 2012-03-15
    soldstatus $30,000
45. 2011-09-21
    historical
46. 2011-08-23
    listed $64,900
47. 2010-04-23
    soldstatus $7,450
48. 2010-04-02
    historical
49. 2010-03-10
    listed $7,425
50. 2008-11-03
    historical

ⓘ 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: $5,578 · $465/mo
• Projected year-2 tax: $5,578 · $465/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 5/10 Major FEMA zone X (unshaded) · 46% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $64,092
• − Mortgage interest: −$32,489
• − Property taxes: −$5,578
• − Insurance: −$2,900
• − Repairs & maintenance: −$5,127
• − Management: −$5,127
• − Depreciation: −$16,873
• Taxable loss: −$4,003
• Est. tax savings @ 24.0%: +$961
• After-tax cash flow: $6,616/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 — Fort Pierce

• Score: 76/100
• State rank: #226
• US rank: #3360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Pierce, FL
• County: Saint Lucie County · 337,150 people
• City population: 78,556
• Metro: Port St. Lucie, FL
• Population (ZIP): 17,461
• Household income: $30,400
• Rent vs Own: 61.1% rent · 38.9% own
• Severe rent burden: 1995.0

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 Black (63%)
• Race & ethnicity: Black 63% Hispanic / Latino 19% White 17% Two or more races 10%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2% Cuban 1%
• Common ancestry: Hispanic 17% Portuguese 1%
• Foreign-born: 23% · Canada
• Languages at home: 69% English-only · Spanish 14% French/Haitian/Cajun 12% Other Indo-European 4%

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: ▼ -97.20%
• Current HPI: 384.8532
• Rent YoY: ▲ 5.94%
• 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

+3766.7% since first listed

38 events — show timeline

• 2025-11-10 Listed $580,000 Beaches MLS
• 2024-07-22 Rental Removed $1,350 RMLSFL
• 2024-07-20 Rental Removed $1,350 RMLSFL
• 2024-07-13 Price Changed $1,350 RMLSFL
• 2024-07-13 Price Changed $1,125 RMLSFL
• 2024-07-01 Listed for Rent $1,175 RMLSFL
• 2024-06-25 Listed for Rent $1,400 RMLSFL
• 2024-03-01 Rental Removed $1,200 RMLSFL
• 2024-03-01 Listed for Rent $1,200 RMLSFL
• 2023-07-11 Rental Removed — RMLSFL
• 2023-04-27 Sold (Public Records) $285,000 Public Records
• 2022-01-11 Sold (Public Records) $250,000 Public Records
• 2022-01-10 Sold (MLS) $283,900 Beaches MLS
• 2021-11-16 Contingent — Beaches MLS
• 2021-10-26 Price Changed $283,900 Beaches MLS
• 2021-09-28 Price Changed $285,000 Beaches MLS
• 2021-08-24 Price Changed $299,000 Beaches MLS
• 2021-08-24 Relisted — Beaches MLS
• 2021-08-16 Pending — Beaches MLS
• 2021-06-15 Listed $285,000 Beaches MLS
• 2020-01-22 Listing Removed — Beaches MLS
• 2019-02-18 Listed $205,000 Beaches MLS
• 2016-01-01 Listing Removed — Beaches MLS
• 2015-07-24 Price Changed $80,000 Beaches MLS
• 2015-04-14 Price Changed $75,000 Beaches MLS
• 2014-08-07 Listed $70,000 Beaches MLS
• 2012-03-15 Sold (Public Records) $30,000 Public Records
• 2011-09-21 Listing Removed — Beaches MLS
• 2011-08-23 Listed $64,900 Beaches MLS
• 2010-04-23 Sold (MLS) $7,450 Beaches MLS
• 2010-04-02 Listing Removed — Beaches MLS
• 2010-03-10 Listed $7,425 Beaches MLS
• 2008-11-03 Listing Removed — Beaches MLS
• 2008-06-13 Listed $169,600 Beaches MLS
• 2008-06-06 Listing Removed — Beaches MLS
• 2008-05-05 Listed $179,800 Beaches MLS
• 2005-09-09 Sold (Public Records) $180,000 Public Records
• 2004-06-03 Sold (Public Records) $15,000 Public Records

Property tax history

+17.0%/yr

Latest (2025): $5,578 · +8.1% YoY. Source: county tax records.