5012 Killarney Ave · Lakewood Park, FL 34951

$349,000

2 bd · 2.0 ba · 1,560 sqft · MultiFamily public records · 53 Days on market

Built 1979 10,019 sqft lot

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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 +20.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.4/10.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• 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: 2 units. confirmed

Listing remarks MLS

2/1 duplex each side. Tenants on a monthly lease. Well and septic, separate meters. Roof 2005. Rents are below market.

Key facts

• Newer roof
• Centrally located
• Large yard

Tags

• INCOME GENERATING DUPLEX
• CENTRALLY LOCATED
• NEWER ROOF
• LARGE YARD

Property features AI

Finance

• Financial info: Two total units; Tenants pay cable TV, electricity, sewer and water; Pets allowed with no restrictions

Exterior

• Utilities: Well water; Septic tank; Electricity available; Sewer available; Water connected; Two separate electric meters; Two separate gas meters; Two separate water meters
• Home design: Duplex; One level; Resale condition
• Construction: Frame construction; Shingle roof; Brick/mortar and concrete perimeter foundation; Built as a 2-unit building
• Exterior features: Outbuilding, shed(s) and storage; Not waterfront

Interior

• Flooring: Carpet; Linoleum; Tile
• Heating & cooling: Central heating; Central electric air conditioning
• Interior features: Carpet, linoleum and tile flooring

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $349k.

Deal economics

• At list price, monthly cash flow is $438 ($5k/yr) — positive. Per door: $219/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $349k).
• Recommended offer: $339k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 5.7% in Lakewood Park — 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 63/100 on livability (#719 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute 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: 292 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• At $3,632/mo this rent would consume 69% of the median local household income ($63k/yr) (locally 140% 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 $2k of loan paydown is wiped out by about $10k 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 53 days — a 3% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $298k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $338,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% 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 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.04% ✓
• Cap rate: 7.80%
• Cash-on-cash: 5.38%
• DSCR: 1.24
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.9%
• Equity multiple: 0.71×
• Total profit: $-28,596
• Equity at exit: $52,037

10-year hold

• IRR: 1.6%
• Equity multiple: 1.12×
• Total profit: $11,283
• Equity at exit: $30,175

Cash invested: $97,720 (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 34951

• Home prices YoY: -23.6%
• Active inventory: 292
• Price-to-rent: 16.0×

Monthly cashflow live

• Estimated rent: $3,632 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$456 /mo · $5,469/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$763
• Net cashflow: $438

Break-even live

Break-even rent $3,078

Max offer price $349,000

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,632
Total (2 units)			$3,632

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5010 Killarney Ave Unit A Fort Pierce, FL	2.0	1.0	1720	$1,500	$0.87	23d	1	0.01mi
6602 Palomar Pkwy Unit A Fort Pierce, FL	3.0	1.0	1200	$2,000	$1.67	23d	1	0.07mi
5234 Oakland Lake Cir Fort Pierce, FL	3.0	2.0	1460	$2,300	$1.58	13d	1	0.51mi
5510 Shannon Dr Fort Pierce, FL	3.0	2.0	1594	$2,350	$1.47	13d	1	0.61mi
5082 Armina Pl Fort Pierce, FL	3.0	2.0	1464	$3,000	$2.05	23d	1	1.10mi
5154 Armina Pl Fort Pierce, FL	3.0	2.0	1477	$2,350	$1.59	13d	1	1.14mi
7704 Pacific Ave Fort Pierce, FL	3.0	2.0	1719	$2,500	$1.45	13d	1	1.19mi
5642 Sunberry Cir Fort Pierce, FL	3.0	2.0	1377	$1,950	$1.42	23d	1	1.19mi
7403 Winter Garden Pkwy Fort Pierce, FL	3.0	2.0	1372	$2,200	$1.60	21d	1	1.21mi
6906 Ocala Ave Fort Pierce, FL	3.0	2.0	1175	$1,955	$1.66	13d	1	1.33mi

Listing history 16 events

1. 2026-05-24
   status Pending
2. 2026-04-30
   price $349,000
3. 2026-04-15
   price $359,000
4. 2026-04-01
   listed $369,000 Active
5. 2023-05-22
   soldstatus $298,286
6. 2023-05-19
   soldstatus $298,400 118-char remark

   Show marketing remark (118 chars)

   2/1 duplex each side. Tenants on a monthly lease. Well and septic, separate meters. Roof 2005. Rents are below market.

7. 2023-05-16
   listed $300,000 118-char remark

   Show marketing remark (118 chars)

   2/1 duplex each side. Tenants on a monthly lease. Well and septic, separate meters. Roof 2005. Rents are below market.

8. 2018-06-26
   historical
9. 2018-06-26
   historical
10. 2010-11-01
    soldstatus $33,000
11. 2010-10-29
    soldstatus $33,000
12. 2010-10-24
    historical
13. 2010-10-09
    listed $35,000
14. 2007-12-07
    listed $109,000
15. 2006-12-19
    listed $159,000
16. 1999-02-26
    soldstatus $23,100

ⓘ 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: $5,469 · $456/mo
• Projected year-2 tax: $5,469 · $456/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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 26 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: $43,584
• − Mortgage interest: −$19,549
• − Property taxes: −$5,469
• − Insurance: −$1,745
• − Repairs & maintenance: −$3,487
• − Management: −$3,487
• − Depreciation: −$10,153
• Taxable loss: −$306
• Est. tax savings @ 24.0%: +$73
• After-tax cash flow: $5,328/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 — Lakewood Park

• Score: 63/100
• State rank: #719
• US rank: #15407

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakewood Park, FL
• County: Saint Lucie County · 337,150 people
• Metro: Port St. Lucie, FL
• Population (ZIP): 17,148
• Household income: $63,122
• Rent vs Own: 11.7% rent · 88.3% own
• Severe rent burden: 140.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Black 13% Hispanic / Latino 8% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 2%
• Foreign-born: 10% · Canada, Jamaica, Vietnam
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 3% Vietnamese 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: ▼ -106.06%
• Current HPI: 343.1376
• Rent YoY: —
• 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

+1410.8% since first listed

16 events — show timeline

• 2026-05-24 Pending — Beaches MLS
• 2026-04-30 Price Changed $349,000 Beaches MLS
• 2026-04-15 Price Changed $359,000 Beaches MLS
• 2026-04-01 Listed $369,000 Beaches MLS
• 2023-05-22 Sold (Public Records) $298,286 Public Records
• 2023-05-19 Sold (MLS) $298,400 Beaches MLS
• 2023-05-16 Listed $300,000 Beaches MLS
• 2018-06-26 Listing Removed — Beaches MLS
• 2018-06-26 Listing Removed — Beaches MLS
• 2010-11-01 Sold (Public Records) $33,000 Public Records
• 2010-10-29 Sold (MLS) $33,000 Beaches MLS
• 2010-10-24 Listing Removed — Beaches MLS
• 2010-10-09 Listed $35,000 Beaches MLS
• 2007-12-07 Listed $109,000 Beaches MLS
• 2006-12-19 Listed $159,000 Beaches MLS
• 1999-02-26 Sold (Public Records) $23,100 Public Records

Property tax history

+15.5%/yr

Latest (2025): $5,469 · +7.7% YoY. Source: county tax records.