2307 N 45th St · Fort Pierce North, FL 34946

$239,000

3 bd · 1.5 ba · 1,384 sqft · SingleFamily public records · 119 Days on market

Built 1973 0.29 ac lot Est $277k · 14% under

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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 +14.6/30.0
• ARV discount +13.6/15.0
• Appreciation +8.0/10.0
• DSCR +4.5/10.0
• 1% rule +3.9/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This home features 3 bedrooms, 1 full bathroom, and 1 half bathroom. It is vacant and on lockbox, Perfect for handyman and or investors alike. Great location, just minutes from Fort Pierce Beach and excellent local restaurants.

Key facts

• 0.29 acre lot
• Built 1973
• Listed 119 days

Tags

• MINUTES FROM FORT PIERCE BEACH
• EXCELLENT LOCAL RESTAURANTS

Property features AI

Finance

• Other: Resale condition; Pets allowed with no restrictions

Exterior

• Utilities: Three-phase electric
• Home design: Single-family residence; One story; Faces northeast
• Construction: Concrete/CBS construction
• Exterior features: Not waterfront

Interior

• Bedrooms: One bedroom on the main level
• Bathrooms: One full bathroom; One half bathroom; Two total bathrooms
• Heating & cooling: Central heating
• Interior features: Unfurnished

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $239k.

Deal economics

• At list price, monthly cash flow is $58 ($699/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (11.4% below list).
• Recommended offer: $212k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 5.1% in Fort Pierce North — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 69/100 on livability (#480 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, amenities F, employment 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: 133 active listings in the ZIP; 7 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).

Forward outlook

• In year one you build about $16k of equity ($2k loan paydown + $14k appreciation (5.9% local appreciation)).
• St. Lucie County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $35k; list at $239k implies a 585% 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 $211,769 (11.4% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. 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.
7. 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.
8. 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: 0.89% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.04%
• DSCR: 1.05
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $276,800
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2311 N 42nd St	0.19mi	3/1.5	1,455 (+5%)	23mo	$175,300	$120	63
4504 Matanzas Ave	0.13mi	2/2.0 (-1)	1,292 (-7%)	21mo	$294,000	$228	59
2011 N 51st Ct	0.53mi	3/2.0	1,248 (-10%)	7mo	$250,000	$200	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.0%
• Equity multiple: 2.07×
• Total profit: $71,599
• Equity at exit: $149,049

10-year hold

• IRR: 16.0%
• Equity multiple: 4.11×
• Total profit: $208,015
• Equity at exit: $269,265

Cash invested: $66,920 (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 34946

• Home prices YoY: 1.7%
• Active inventory: 133
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,118 high
• Mortgage (P&I): −$1,253
• Tax from tax record: −$262 /mo · $3,142/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $58

Break-even live

Break-even rent $2,044

Max offer price $239,000

Occupancy floor 92%

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2007 N 49th St Fort Pierce, FL	4.0	2.5	1450	$2,399	$1.65	14d	1	0.45mi
113 Hilton Dr Fort Pierce, FL	4.0	1.0	1160	$2,000	$1.72	23d	1	0.78mi
3101 Avenue T Fort Pierce, FL	2.0	2.0	1064	$1,980	$1.86	23d	1	0.94mi
4005 Avenue I Unit A Fort Pierce, FL	2.0	1.0	880	$1,600	$1.82	23d	1	1.12mi
4005 Avenue I Unit A Fort Pierce, FL	2.0	1.0	880	$1,600	$1.82	14d	1	1.12mi
107 Bedford Dr Fort Pierce, FL	4.0	1.5	1362	$2,400	$1.76	23d	1	1.15mi
2809 Jefferson Pkwy Unit A Fort Pierce, FL	3.0	1.0	1350	$2,100	$1.56	14d	1	1.36mi

Listing history 18 events

1. 2026-06-18
   days on market $239,000 Active 119 DOM
2. 2026-06-17
   days on market $239,000 Active 118 DOM
3. 2026-06-16
   days on market $239,000 Active 117 DOM
4. 2026-06-15
   days on market $239,000 Active 116 DOM
5. 2026-06-14
   days on market $239,000 Active 114 DOM
6. 2026-06-13
   days on market $239,000 Active 113 DOM
7. 2026-06-10
   days on market $239,000 Active 111 DOM
8. 2026-06-09
   days on market $239,000 Active 110 DOM
9. 2026-06-08
   days on market $239,000 Active 109 DOM
10. 2026-06-07
    days on market $239,000 Active 108 DOM
11. 2026-06-05
    days on market $239,000 Active 105 DOM
12. 2026-06-03
    days on market $239,000 Active 104 DOM
13. 2026-06-02
    days on market $239,000 Active 103 DOM
14. 2026-06-01
    days on market $239,000 Active 102 DOM
15. 2026-05-31
    days on market $239,000 Active 101 DOM
16. 2026-05-30
    days on market $239,000 Active 100 DOM
17. 2026-02-19
    listed $239,000 Active
18. 1980-12-01
    soldstatus $34,900

ⓘ 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: $3,142 · $262/mo
• Projected year-2 tax: $3,142 · $262/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 ≥107°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: $25,412
• − Mortgage interest: −$13,388
• − Property taxes: −$3,142
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,033
• − Management: −$2,033
• − Depreciation: −$6,953
• Taxable loss: −$3,331
• Est. tax savings @ 24.0%: +$799
• After-tax cash flow: $1,498/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 North

• Score: 69/100
• State rank: #480
• US rank: #8764

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Pierce North, FL
• Population (ZIP): 6,588

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Black 36% Hispanic / Latino 34% White 26% Two or more races 18% Native American 4% Asian 1%
• Hispanic origin (detail): Mexican 16% Puerto Rican 2% Cuban 2% Salvadoran 1%
• Common ancestry: Lithuanian 1% Slovak 1% Portuguese 1%
• Foreign-born: 25% · Canada, Dominican Republic
• Languages at home: 70% English-only · Spanish 28% Other Indo-European 1%

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: ▲ 5.92%
• Current HPI: 351.3324
• Rent YoY: —
• Metro: —
• 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

+584.8% since first listed

2 events — show timeline

• 2026-02-19 Listed $239,000 Beaches MLS
• 1980-12-01 Sold (Public Records) $34,900 Public Records

Property tax history

+7.4%/yr

Latest (2025): $3,142 · +15.7% YoY. Source: county tax records.