526 Hemingway Ter Unit F-02 · Indian River Estates, FL 34982

$59,900

2 bd · 2.0 ba · 832 sqft · Land · 6 Days on market

Built 1987 ↓ 55% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.4/5.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

FOR BARGAIN HUNTERS! Great for the price is this 2 bedroom, 2 bath with screened patio, etc. On rented lot BUT you can buy a share of the Co-op and not pay any more rent just the HOA fees!

Key facts

• Screened lanai
• Attached shed
• New roof

Tags

• NEW ROOF
• ATTACHED SHED
• SCREENED LANAI

Property features AI

Finance

• Financial info: Pets allowed; Property listed in a senior community
• HOA & community: Has association; Monthly association fee; Association amenities include: pool, spa/hot tub, clubhouse, billiard room, community room, library, tennis courts, pickleball courts, shuffleboard court; Association fees cover maintenance of grounds, sewer, and trash

Exterior

• Parking: Attached carport (covered, 1 carport space) and 2 open parking spaces
• Utilities: Public water; Public sewer; Water available; Sewer available
• Home design: Manufactured home; Single-story; Resale; Faces north
• Construction: Modular construction
• Exterior features: Screened patio; Patio; Porch; Shed(s)

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Carpet; Laminate; Other
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central electric heating; Central air conditioning
• Interior features: Walk-in closets; Furnished
• Laundry & utility: Laundry inside

🏢 Co-op / cooperative unit. The $59,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $60k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 28.1% vs local median 5.3% in Indian River Estates — 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 65/100 on livability (#653 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D+, schools F, 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 (+7.4%/yr); 336 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• This rent runs 42% of the median local income ($54k/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 $414 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 7.4% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 17y ago; this cycle's ask has dropped $15k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $60k implies a 299% 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 $59,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 3.14% ✓
• Cap rate: 28.11%
• Cash-on-cash: 77.93%
• DSCR: 4.47
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.42% rent growth · sell at horizon

5-year hold

• IRR: 82.9%
• Equity multiple: 5.08×
• Total profit: $68,424
• Equity at exit: $8,931

10-year hold

• IRR: 87.3%
• Equity multiple: 12.23×
• Total profit: $188,286
• Equity at exit: $5,179

Cash invested: $16,772 (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 34982

• Home prices YoY: -33.4%
• Rents YoY: 7.4%
• Active inventory: 336
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,882 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$58 /mo · $702/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $1,089

Break-even live

Break-even rent $503

Max offer price $59,900

Occupancy floor 37%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5306 Pinetree Dr Fort Pierce, FL	1.0	1.0	600	$1,200	$2.00	23d	1	0.51mi
355 Johnston St Fort Pierce, FL	3.0	1.5	1118	$2,500	$2.24	23d	1	0.59mi
352 Johnston St Fort Pierce, FL	3.0	2.0	936	$2,100	$2.24	23d	1	0.61mi
699 W Weatherbee Rd Fort Pierce, FL	2.0	1.5	1100	$1,875	$1.70	23d	1	1.29mi

Listing history 15 events

1. 2026-06-18
   days on market $59,900 Active 6 DOM
2. 2026-06-17
   days on market $59,900 Active 5 DOM
3. 2026-06-16
   days on market $59,900 Active 4 DOM
4. 2026-06-15
   days on market $59,900 Active 3 DOM
5. 2026-06-13
   pricedays on marketlisting id $59,900 Active 1 DOM
6. 2026-06-01
   days on market $68,000 Active 182 DOM
7. 2026-05-31
   days on market $68,000 Active 181 DOM
8. 2026-05-30
   days on market $68,000 Active 180 DOM
9. 2026-03-28
   price $68,000
10. 2026-02-19
    price $73,999
11. 2025-12-01
    listed $74,999 Active
12. 2010-01-27
    soldstatus $15,000 188-char remark

    Show marketing remark (188 chars)

    FOR BARGAIN HUNTERS! Great for the price is this 2 bedroom, 2 bath with screened patio, etc. On rented lot BUT you can buy a share of the Co-op and not pay any more rent just the HOA fees!

13. 2010-01-20
    historical 188-char remark

    Show marketing remark (188 chars)

    FOR BARGAIN HUNTERS! Great for the price is this 2 bedroom, 2 bath with screened patio, etc. On rented lot BUT you can buy a share of the Co-op and not pay any more rent just the HOA fees!

14. 2009-05-20
    listed $15,000 188-char remark

    Show marketing remark (188 chars)

    FOR BARGAIN HUNTERS! Great for the price is this 2 bedroom, 2 bath with screened patio, etc. On rented lot BUT you can buy a share of the Co-op and not pay any more rent just the HOA fees!

15. 2007-04-20
    soldstatus $150,000

ⓘ 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: $702 · $58/mo
• Projected year-2 tax: $702 · $58/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 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,584
• − Mortgage interest: −$3,355
• − Property taxes: −$702
• − Insurance: −$300
• − Repairs & maintenance: −$1,807
• − Management: −$1,807
• − Depreciation: −$1,743
• Taxable income: $12,871
• Est. tax owed @ 24.0%: −$3,089
• After-tax cash flow: $9,981/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 — Indian River Estates

• Score: 65/100
• State rank: #653
• US rank: #12946

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indian River Estates, FL
• County: Saint Lucie County · 337,150 people
• City population: 27,447
• Metro: Port St. Lucie, FL
• Population (ZIP): 31,143
• Household income: $54,082
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 1086.0

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 White (62%)
• Race & ethnicity: White 62% Hispanic / Latino 22% Two or more races 12% Black 12%
• Hispanic origin (detail): Mexican 10% Puerto Rican 3% Cuban 3%
• Common ancestry: Italian 7% Hispanic 2% Lithuanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 80% English-only · Spanish 16% French/Haitian/Cajun 3%

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: ▼ -199.47%
• Current HPI: 397.2649
• Rent YoY: ▲ 7.42%
• 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

-54.7% since first listed

7 events — show timeline

• 2026-03-28 Price Changed $68,000 Beaches MLS
• 2026-02-19 Price Changed $73,999 Beaches MLS
• 2025-12-01 Listed $74,999 Beaches MLS
• 2010-01-27 Sold (MLS) $15,000 Beaches MLS
• 2010-01-20 Listing Removed — Beaches MLS
• 2009-05-20 Listed $15,000 Beaches MLS
• 2007-04-20 Sold (Public Records) $150,000 Public Records

Property tax history

+9.2%/yr

Latest (2025): $702 · +7.7% YoY. Source: county tax records.