5400 A1a Hwy Unit I3 · Indian River Shores, FL 32963

$249,900

1 bd · 2.0 ba · 1,000 sqft · Townhouse public records · 163 Days on market

Built 1973 Est $220k · 14% over $473/mo HOA · 13% of rent

---

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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Rent growth +5.0/5.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• ARV discount +1.4/15.0
• Appreciation +0.0/10.0

Listing remarks

Oceanfront 55 plus community.

Key facts

• $473 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Vista Del Mar association with monthly dues; Association fee includes common areas, insurance, structure maintenance, parking, recreation facilities, reserves, roof, sewer, trash and water; Community amenities include bicycle storage and pool; Senior community

Exterior

• Parking: Assigned and unassigned uncovered parking
• Utilities: Public water; Public sewer
• Home design: 3-story building; West-facing; Attached property
• Construction: Block and concrete construction
• Exterior features: Covered porch; Porch; Community pool; Has a view; Less than quarter acre lot

Interior

• Kitchen: Cooktop; Dishwasher; Microwave; Refrigerator
• Bedrooms: One bedroom (10 x 12)
• Flooring: Carpet; Tile
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Furnished; Single-hung and sliding windows with window treatments; Carpet and tile flooring
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath townhouse listed at $250k.

Deal economics

• At list price, monthly cash flow is $827 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 1.5% in Indian River Shores — 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 68/100 on livability (#517 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A-; Watch: schools C-, amenities F, commute F.
• 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; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 $70k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $62k; list at $250k implies a 303% gain — meaningful room to come down on a strong offer.

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 $219,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 days. Have you received any prior offers? Is the seller open to a 12% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.49% ✓
• Cap rate: 10.27%
• Cash-on-cash: 14.19%
• DSCR: 1.63
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $220,000
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5400 Highway A1a Unit E-12	0.00mi	1/1.5	1,000 (0%)	2mo	$173,000	$173	96
5400 Highway A1a Unit A-12	0.00mi	1/1.5	1,000 (0%)	3mo	$292,000	$292	95
5400 Highway A1a Hwy Unit A5	0.00mi	1/1.5	1,000 (0%)	7mo	$190,000	$190	92
5400 Jimmy Buffet Memorial Hwy Hwy Unit A5	0.11mi	1/1.5	1,000 (0%)	7mo	$190,000	$190	87
5400 Highway A1a Unit B19	0.00mi	1/1.5	1,000 (0%)	13mo	$258,000	$258	87
5400 Highway A1a Unit E20	0.03mi	1/1.5	1,000 (0%)	13mo	$235,000	$235	86
5400 Highway A1a Unit C4	0.16mi	1/1.5	1,000 (0%)	13mo	$220,000	$220	80

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: 10.9%
• Equity multiple: 1.46×
• Total profit: $32,102
• Equity at exit: $37,261

10-year hold

• IRR: 24.1%
• Equity multiple: 3.66×
• Total profit: $186,269
• Equity at exit: $21,607

Cash invested: $69,972 (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: 5.6×

Monthly cashflow live

• Estimated rent: $3,713 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$218 /mo · $2,617/yr
• Insurance: −$104
• HOA: −$473
• Vacancy / Maint / Mgmt: −$780
• Net cashflow: $827

Break-even live

Break-even rent $2,665

Max offer price $249,900

Occupancy floor 73%

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5300 Jimmy Buffett Memorial Hwy #301 Indian River Shores, FL	2.0	2.0	1300	$7,000	$5.38	21d	1	0.06mi
5300 Jimmy Buffett Memorial Hwy Unit 214 Indian River Shores, FL	2.0	2.0	1300	$5,500	$4.23	21d	1	0.06mi
5300 Jimmy Buffett Memorial Hwy Unit 305 Indian River Shores, FL	2.0	2.0	1300	$6,000	$4.62	21d	1	0.06mi
5300 Jimmy Buffett Memorial Hwy Unit 408 Indian River Shores, FL	2.0	2.0	1300	$9,000	$6.92	21d	1	0.06mi
5300 Jimmy Buffett Memorial Hwy Unit 314 Indian River Shores, FL	2.0	2.0	1300	$3,000	$2.31	21d	1	0.06mi
5400 Jimmy Buffett Memorial Hwy Unit B8 Indian River Shores, FL	1.0	1.5	1000	$1,650	$1.65	13d	1	0.09mi
5400 Jimmy Buffett Memorial Hwy Unit 5400A11 Indian River Shores, FL	1.0	2.0	1000	$2,500	$2.50	21d	1	0.09mi
5400 Jimmy Buffett Memorial Hwy Unit I24 Indian River Shores, FL	1.0	1.5	1000	$1,650	$1.65	21d	1	0.09mi
5400 Jimmy Buffett Memorial Hwy Unit A19 Indian River Shores, FL	1.0	1.5	900	$3,000	$3.33	21d	1	0.12mi
5400 Jimmy Buffett Memorial Hwy Indian River Shores, FL	2.0	2.0	1200	$1,800	$1.50	21d	1	0.12mi
837 Seminole Ln Vero Beach, FL	2.0	2.0	860	$2,800	$3.26	13d	1	0.18mi
5151 Jimmy Buffett Memorial Hwy Unit 514 Indian River Shores, FL	1.0	1.0	937	$1,750	$1.87	21d	1	0.25mi
5151 Jimmy Buffett Memorial Hwy Unit 512 Indian River Shores, FL	2.0	2.0	1339	$4,600	$3.44	21d	1	0.25mi
5151 Jimmy Buffett Memorial Hwy Unit 305 Indian River Shores, FL	2.0	2.0	1339	$2,300	$1.72	21d	1	0.25mi
5151 Jimmy Buffett Memorial Hwy Unit 516 Indian River Shores, FL	1.0	1.5	937	$3,000	$3.20	21d	1	0.28mi
5100 Jimmy Buffett Memorial Hwy Unit 58G INDN RIV SHRS, FL	2.0	2.0	1170	$6,000	$5.13	21d	1	0.44mi
4890 Bethel Creek Dr #5 Vero Beach, FL	2.0	2.5	1244	$2,200	$1.77	21d	1	0.86mi
4834 Bethel Creek Dr Vero Beach, FL	2.0	2.5	1500	$2,900	$1.93	21d	1	0.88mi
4601 Highway A1A #202 Vero Beach, FL	2.0	2.0	1440	$3,250	$2.26	21d	1	1.04mi
4600 Highway A1A #507 Vero Beach, FL	2.0	2.0	1400	$5,000	$3.57	21d	1	1.07mi
4450 Highway A1A #404 Vero Beach, FL	2.0	2.0	1080	$3,499	$3.24	13d	1	1.12mi
4450 Highway A1A #303 Vero Beach, FL	2.0	2.0	1080	$3,500	$3.24	21d	1	1.12mi
4450 Florida A1A Unit 102 Vero Beach, FL	2.0	2.0	1000	$3,900	$3.90	21d	1	1.12mi
4400 Highway A1A #10 Vero Beach, FL	2.0	2.0	800	$5,500	$6.88	21d	1	1.19mi
4150 Highway A1A #111 Vero Beach, FL	2.0	2.0	1300	$2,600	$2.00	21d	1	1.34mi
4141 Ocean Dr Vero Beach, FL	2.0–3.0	2.0	1200	$3,500	$2.92	13d	4	1.38mi
4019 Silver Palm Dr #8 Vero Beach, FL	2.0	2.5	1460	$3,000	$2.05	21d	1	1.49mi
4026 Silver Palm Dr Vero Beach, FL	2.0	2.0	1200	$3,500	$2.92	13d	1	1.49mi
4009 Silver Palm Dr #3 Vero Beach, FL	2.0	2.5	1430	$5,100	$3.57	21d	1	1.50mi

HOA detail

• Monthly dues: $473 · $5,676/yr

Listing history 19 events

1. 2026-06-19
   days on market $249,900 Active 163 DOM
2. 2026-06-18
   days on market $249,900 Active 162 DOM
3. 2026-06-17
   days on market $249,900 Active 161 DOM
4. 2026-06-16
   days on market $249,900 Active 160 DOM
5. 2026-06-15
   days on market $249,900 Active 159 DOM
6. 2026-06-14
   days on market $249,900 Active 157 DOM
7. 2026-06-13
   days on market $249,900 Active 156 DOM
8. 2026-06-10
   days on market $249,900 Active 154 DOM
9. 2026-06-09
   days on market $249,900 Active 153 DOM
10. 2026-06-08
    days on market $249,900 Active 152 DOM
11. 2026-06-07
    days on market $249,900 Active 151 DOM
12. 2026-06-05
    days on market $249,900 Active 148 DOM
13. 2026-06-02
    days on market $249,900 Active 146 DOM
14. 2026-06-01
    days on market $249,900 Active 145 DOM
15. 2026-05-31
    days on market $249,900 Active 144 DOM
16. 2026-05-30
    days on market $249,900 Active 143 DOM
17. 2026-01-07
    listed $249,900 Active
18. 1996-12-06
    soldstatus $62,000
19. 1988-06-01
    soldstatus $60,000

ⓘ 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: $2,617 · $218/mo
• Projected year-2 tax: $2,617 · $218/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 6/10 Major FEMA zone X (unshaded) · 53% 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: $44,551
• − Mortgage interest: −$13,998
• − Property taxes: −$2,617
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,564
• − Management: −$3,564
• − HOA: −$5,676
• − Depreciation: −$7,270
• Taxable income: $6,612
• Est. tax owed @ 24.0%: −$1,587
• After-tax cash flow: $8,340/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 — Indian River Shores

• Score: 68/100
• State rank: #517
• US rank: #9512

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indian River Shores, FL
• County: Indian River County · 143,738 people
• City population: 15,008
• 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

+316.5% since first listed

3 events — show timeline

• 2026-01-07 Listed $249,900 RAIRCMLS
• 1996-12-06 Sold (Public Records) $62,000 Public Records
• 1988-06-01 Sold (Public Records) $60,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $2,617 · +2.0% YoY. Source: county tax records.