47 El Camino Real · Port St. Lucie, FL 34952

$49,900

2 bd · 2.0 ba · 1,344 sqft · Manufactured · 157 Days on market

Built 2006 Est $73k · 31% under $910/mo HOA · 47% of rent

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.7/10.0
• Rent growth +3.0/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

PRICE REDUCTION! ALL OFFERS CONSIDERED!! Light, Bright, and Airy Home in Spanish Lakes One (55+ Community)! Built in 2006 this beautifully maintained home features a new roof (2024) and is being sold turnkey—just bring your toothbrush! Enjoy your morning coffee or evening cocktail while overlooking the pond across the street, with an additional water view in the back—the best of both worlds. Spanish Lakes One offers an active lifestyle with golf, pool, tennis, pickleball, billiards, fitness center, and a vibrant community center, all within walking distance of your new home. There's always something to do—no chance of getting bored here! The home has been fully inspected,

Key facts

• Overlooking the pond
• Roof from 2024
• 3 parking spots

Tags

• ROOF FROM 2024
• OVERLOOKING THE POND
• WATERVIEW IN THE BACK

Property features AI

Finance

• Other: Located in a senior community
• Financial info: Leasehold property; Pets allowed (pet restrictions possible)
• HOA & community: Has association; Monthly HOA fee; Association amenities include pool, clubhouse, fitness center, golf course, tennis, pickleball, shuffleboard, bocce, basketball, billiard room, game room, library, cafe/restaurant, picnic area, bike storage

Exterior

• Parking: Attached carport; Carport (1 covered space); 3 total parking spaces; 3 open parking spaces
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Manufactured home; Single-story; Model LFST; Resale condition; Faces north; Located east of US-1
• Construction: Aluminum siding; Modular construction; Aluminum skirt; Aluminum, composition, and rolled/hot mop roofing; Built as a manufactured home
• Exterior features: Open porch; Porch; Waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Laminate; Linoleum
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Kitchen island; Furnished; Blinds and drapes
• Laundry & utility: Laundry closet with washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $281 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 3.9% in Port St. Lucie — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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 (+1.9%/yr); 639 active listings in the ZIP; 9 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 38% of the median local income ($62k/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 $345 of loan paydown is wiped out by about $1k 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 + 1.9% rent growth), your $14k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $45k (47%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $27k; list at $50k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 47% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
6. 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.
7. 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: 3.89% ✓
• Cap rate: 13.04%
• Cash-on-cash: 24.10%
• DSCR: 2.07
• GRM: 2.1

CMA / ARV

• ARV (on-the-fly): $72,576
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 Huarte Way	0.14mi	2/2.0	1,188 (-12%)	3mo	$45,000	$38	71
7953 Horned Lark Cir	0.67mi	2/2.0	1,286 (-4%)	1mo	$130,000	$101	60
38 Alta Loma	0.57mi	2/2.0	1,433 (+7%)	5mo	$180,000	$126	58
82 Spanish Way	0.27mi	2/2.0	1,245 (-7%)	22mo	$18,000	$14	57
25 Rio Verde Way	0.20mi	2/2.0	1,200 (-11%)	22mo	$64,900	$54	54
8 S Alhambra Ln	0.48mi	3/2.0 (+1)	1,400 (+4%)	14mo	$100,000	$71	54
7 Reforma Ln	0.43mi	2/2.0	1,150 (-14%)	20mo	$37,000	$32	40
45 Mediterranean Blvd W	0.62mi	2/2.0	1,200 (-11%)	24mo	$38,000	$32	33

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 · 1.92% rent growth · sell at horizon

5-year hold

• IRR: 15.1%
• Equity multiple: 1.59×
• Total profit: $8,282
• Equity at exit: $7,440

10-year hold

• IRR: 22.3%
• Equity multiple: 2.73×
• Total profit: $24,222
• Equity at exit: $4,314

Cash invested: $13,972 (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 34952

• Home prices YoY: -29.6%
• Rents YoY: 1.9%
• Active inventory: 639
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,944 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$910
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $281

Break-even live

Break-even rent $1,588

Max offer price $49,900

Occupancy floor 81%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1900 Bella Vista Way Port Saint Lucie, FL	1.0–2.0	1.0–2.0	995	$1,764	$1.77	14d	15	0.54mi
7700 Pine Lakes Blvd Port Saint Lucie, FL	1.0–3.0	1.0–2.0	1022	$1,878	$1.84	14d	16	1.14mi
71 W Caribbean Port St. Lucie, FL	2.0	2.0	1417	$1,700	$1.20	23d	1	1.27mi
1810 SE Pinewood Trl Port Saint Lucie, FL	1.0–2.0	1.0–2.0	1013	$2,055	$2.03	14d	7	1.34mi
124 E Arbor Ave Port Saint Lucie, FL	3.0	1.0	964	$2,550	$2.65	14d	1	1.34mi
3784 Sapodilla Ct Port Saint Lucie, FL	2.0	2.0	1121	$2,300	$2.05	23d	1	1.35mi
14 Lake Vista Trl #101 Port Saint Lucie, FL	2.0	2.0	1170	$2,200	$1.88	23d	1	1.39mi
11 Lake Vista Trl #206 Port Saint Lucie, FL	2.0	2.0	1080	$1,400	$1.30	23d	1	1.45mi
26 Lake Vista Trl #201 Port Saint Lucie, FL	2.0	2.0	1170	$1,500	$1.28	23d	1	1.48mi

HOA detail

• Monthly dues: $910 · $10,920/yr
• Likely covers: waterpoolgym

Listing history 19 events

1. 2026-06-13
   days on market $49,900 Active 157 DOM
2. 2026-06-10
   days on market $49,900 Active 155 DOM
3. 2026-06-09
   days on market $49,900 Active 154 DOM
4. 2026-06-08
   days on market $49,900 Active 153 DOM
5. 2026-06-07
   days on market $49,900 Active 152 DOM
6. 2026-06-05
   days on market $49,900 Active 149 DOM
7. 2026-06-03
   days on market $49,900 Active 148 DOM
8. 2026-06-02
   days on market $49,900 Active 147 DOM
9. 2026-06-01
   days on market $49,900 Active 146 DOM
10. 2026-05-31
    days on market $49,900 Active 145 DOM
11. 2026-05-30
    days on market $49,900 Active 144 DOM
12. 2026-05-17
    price $49,900
13. 2026-04-24
    price $69,900
14. 2026-03-12
    price $79,900
15. 2026-02-12
    price $90,000
16. 2026-01-06
    listed $95,000 Active
17. 2013-10-11
    soldstatus $27,000
18. 2013-10-02
    historical
19. 2013-06-28
    listed $30,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 6 d/yr ≥106°F today · 20 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: $23,323
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,866
• − Management: −$1,866
• − HOA: −$10,920
• − Depreciation: −$1,452
• Taxable income: $3,426
• Est. tax owed @ 24.0%: −$822
• After-tax cash flow: $2,544/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 — Port St. Lucie

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Saint Lucie County · 337,150 people
• City population: 221,051
• Metro: Port St. Lucie, FL
• Population (ZIP): 42,655
• Household income: $61,628
• Rent vs Own: 25.8% rent · 74.2% own
• Severe rent burden: 1759.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 62% Hispanic / Latino 19% Two or more races 14% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 2% Dominican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Hispanic 1%
• Foreign-born: 18% · Canada, Jamaica, China
• Languages at home: 76% English-only · Spanish 16% French/Haitian/Cajun 3% Tagalog/Filipino 2%

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: ▼ -155.80%
• Current HPI: 371.0573
• Rent YoY: ▲ 1.92%
• 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

+66.3% since first listed

8 events — show timeline

• 2026-05-17 Price Changed $49,900 Beaches MLS
• 2026-04-24 Price Changed $69,900 Beaches MLS
• 2026-03-12 Price Changed $79,900 Beaches MLS
• 2026-02-12 Price Changed $90,000 Beaches MLS
• 2026-01-06 Listed $95,000 Beaches MLS
• 2013-10-11 Sold (MLS) $27,000 Beaches MLS
• 2013-10-02 Listing Removed — Beaches MLS
• 2013-06-28 Listed $30,000 Beaches MLS