1529 Coral Oak Ln #1505 · Wabasso Beach, FL 32963

$333,500

2 bd · 3.0 ba · 1,995 sqft · Condo public records · 96 Days on market

Built 1989 $1434/mo HOA · 34% of rent

---

Why this score? — see what drove the D 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 +10.8/30.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This Light and Bright large end unit is nestled between the mature oaks in the Beautiful, active and well located Coralstone. The amenities include private beach access via a walking path, a spacious clubhouse and pool facility with kitchen, fitness room, library, billiards, tennis, pickleball and more. Priced to allow the buyer to do cosmetic updates if they choose to. 3 separate living areas, one with a working fireplace with custom mantle for those chilly nights and holiday times. Close to Sebastian Inlet, Shopping & Dining, but far enough away to allow for peace & serenity.

Key facts

• Billiards
• Private beach access
• Spacious clubhouse

Tags

• PRIVATE BEACH ACCESS
• SPACIOUS CLUBHOUSE
• POOL FACILITY
• FITNESS ROOM
• LIBRARY
• BILLIARDS

Property features AI

Finance

• Other: Community pool is heated (electric and solar heat) and considered a community facility
• Financial info: Pets allowed with limits (number and size restrictions)
• HOA & community: Association managed by Orchid Island Mgmt. Group; Monthly association fee; Association fee includes common areas, insurance, grounds and structure maintenance, parking, recreation facilities, and reserve fund; Community amenities include clubhouse, fitness center, library, billiard room, pickleball, tennis courts, and community pool

Exterior

• Parking: Assigned detached garage (1 garage space); Uncovered parking available
• Security: Gated community
• Utilities: Public water; County sewer
• Home design: 2-story property; Northeast-facing; Attached property
• Construction: Frame and stucco construction; Metal roof
• Exterior features: Sprinkler/irrigation system; Rain gutters; Beach access; Located on a cul-de-sac; Paved road

Interior

• Kitchen: Refrigerator; Range; Microwave; Dishwasher; Disposal; Electric water heater; Pantry
• Bedrooms: Two bedrooms (one measures 16x13, the other 13x11)
• Flooring: Carpet; Tile
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Single-hung windows; Sliding doors; Walk-in closet(s); Pantry; Furnishing negotiable; One fireplace
• Laundry & utility: In-unit laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath condo listed at $334k.

Deal economics

• At list price, monthly cash flow is $-219 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $295k (11.6% below list).
• Meets the 1% rule at list price ($4k rent vs $334k).
• Recommended offer: $295k (11.6% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 1.8% in Wabasso Beach — 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 (#712 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A-; Watch: amenities F, commute F, cost of living 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.
• Zoned schools: Beachland Elementary School (math 54% / reading 58%, grade C+, #832 of 2,144 statewide, top 40%, 523 students, 39% FRL); Gifford Middle School (math 46% / reading 45%, grade D+, #305 of 571 statewide, top 54%, 582 students, 72% FRL); Vero Beach High School (math 28% / reading 43%, grade F, #367 of 667 statewide, top 57%, 2,847 students, 50% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents rising fast (+11.0%/yr); 501 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).
• This rent runs 34% of the median local income ($150k/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 $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($303k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $190k; list at $334k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 34% of rent.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $294,775 (11.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 1.26% ✓
• Cap rate: 5.74%
• Cash-on-cash: -1.96%
• DSCR: 0.91
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -12.4%
• Equity multiple: 0.52×
• Total profit: $-44,887
• Equity at exit: $49,726

10-year hold

• IRR: 5.2%
• Equity multiple: 1.51×
• Total profit: $47,740
• Equity at exit: $28,835

Cash invested: $93,380 (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: 501
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $4,217 medium
• Mortgage (P&I): −$1,749
• Tax from tax record: −$162 /mo · $1,949/yr
• Insurance: −$139
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,434
• Vacancy / Maint / Mgmt: −$886
• Net cashflow: $-219

Break-even live

Break-even rent $4,495

Max offer price $294,775

Occupancy floor —

Sensitivity live

Price	-10% $-30	-5% $-125	+0% $-219	+5% $-314	+10% $-408
Rent	-10% $-552	-5% $-386	+0% $-219	+5% $-53	+10% $114
Rate	-1.0pp $-51	-0.5pp $-134	base $-219	+0.5pp $-306	+1.0pp $-394

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: $83,375
• Closing costs: $10,005
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1304 Coral Park Ln #102 Vero Beach, FL	2.0	2.5	1665	$4,000	$2.40	23d	1	0.04mi
1506 Coral Oak Ln #1303 Vero Beach, FL	2.0	2.5	1665	$3,000	$1.80	23d	1	0.04mi
8829 Lakeside Cir Vero Beach, FL	3.0	2.5	1819	$12,000	$6.60	15d	1	0.21mi
8823 Lakeside Cir Vero Beach, FL	2.0	2.0	1666	$11,000	$6.60	15d	1	0.23mi
8880 N Sea Oaks Way Vero Beach, FL	2.0–3.0	2.0–2.5	1801	$12,000	$6.66	15d	4	0.26mi
8859 Lakeside Cir Vero Beach, FL	3.0	3.5	2249	$13,000	$5.78	23d	1	0.26mi
8870 N Sea Oaks Way #306 Vero Beach, FL	3.0	2.5	1993	$15,000	$7.53	23d	1	0.28mi
8785 Lakeside Blvd Vero Beach, FL	3.0	2.0	1666	$12,500	$7.50	23d	1	0.30mi
1315 Palmetto Ct #111 Vero Beach, FL	2.0	2.5	1350	$12,000	$8.89	23d	1	0.30mi
1240 Palmetto Ct #104 Vero Beach, FL	3.0	3.5	2339	$15,000	$6.41	23d	1	0.30mi
8860 N Sea Oaks Way #105 Vero Beach, FL	3.0	2.5	2049	$16,000	$7.81	23d	1	0.33mi
8866 N Sea Oaks Way Vero Beach, FL	3.0	2.5	2049	$15,500	$7.56	23d	2	0.33mi
1415 Winding Oaks Cir W Unit A504 Vero Beach, FL	2.0	2.0	1337	$8,500	$6.36	23d	1	0.34mi
1415 Winding Oaks Cir W Unit A503 Vero Beach, FL	3.0	2.0	1440	$11,000	$7.64	23d	1	0.34mi
1460 Winding Oaks Cir W Unit 104 Vero Beach, FL	2.0	2.0	1337	$9,000	$6.73	23d	1	0.34mi
8875 W Orchid Island Cir #301 Vero Beach, FL	3.0	3.0	2496	$12,500	$5.01	23d	1	0.35mi
1400 Winding Oaks Cir W Unit A404 Vero Beach, FL	2.0	2.0	1456	$10,000	$6.87	23d	1	0.37mi
1385 Winding Oaks Cir W #702 Vero Beach, FL	2.0	2.0	1272	$7,500	$5.90	23d	1	0.38mi
1941 W Shell Ln Vero Beach, FL	2.0	2.0	1309	$6,800	$5.19	15d	1	0.39mi
1195 Winding Oaks Cir E #308 Vero Beach, FL	2.0	2.0	1225	$9,000	$7.35	23d	1	0.40mi
1881 E Barefoot Pl Vero Beach, FL	2.0	2.0	1675	$10,000	$5.97	23d	1	0.40mi
8755 Windy Oaks Ct Vero Beach, FL	3.0	2.5	2100	$13,000	$6.19	23d	1	0.41mi
8840 S Sea Oaks Way Unit 207B Vero Beach, FL	2.0	2.0	1350	$11,000	$8.15	23d	1	0.42mi
8840 S Sea Oaks Way Vero Beach, FL	2.0	2.0	1350	$12,500	$9.26	23d	2	0.43mi
8735 Lakeside Blvd #210 Vero Beach, FL	3.0	2.5	1963	$12,000	$6.11	23d	1	0.43mi
2083 Indian Summer Ln Vero Beach, FL	3.0	3.5	2467	$7,000	$2.84	15d	1	0.43mi
1275 Winding Oaks Cir E #706 Vero Beach, FL	2.0	2.0	1350	$8,500	$6.30	23d	1	0.47mi
8830 S Sea Oaks Way Vero Beach, FL	2.0	2.0	1350	$10,500	$7.78	15d	2	0.47mi
1255 Winding Oaks Cir E #608 Vero Beach, FL	2.0	2.0	1261	$8,000	$6.34	15d	1	0.47mi
8738 Lakeside Blvd Vero Beach, FL	3.0	2.5	1937	$13,500	$6.97	15d	1	0.47mi
9470 Doubloon Dr Vero Beach, FL	3.0	2.5	2150	$18,000	$8.37	23d	1	0.53mi
8820 S Sea Oaks Way #202 Vero Beach, FL	3.0	2.5	2026	$17,000	$8.39	23d	1	0.55mi
8824 S Sea Oaks Way #102 Vero Beach, FL	3.0	3.0	2334	$15,000	$6.43	23d	1	0.55mi
8820 S Sea Oaks Way #204 Vero Beach, FL	3.0	3.0	2026	$17,000	$8.39	23d	1	0.55mi
9315 E Maiden Ct Vero Beach, FL	2.0	2.0	1745	$6,500	$3.72	15d	1	0.59mi
1830 E Sandpiper Rd Vero Beach, FL	3.0	2.0	1620	$12,000	$7.41	23d	1	0.59mi
1850 E Sandpiper Rd Vero Beach, FL	3.0	3.0	2335	$9,500	$4.07	23d	1	0.59mi
2135 S Maiden Ln Vero Beach, FL	3.0	2.0	1815	$4,800	$2.64	15d	1	0.61mi
9530 Seagrape Dr Vero Beach, FL	3.0	3.0	2363	$11,000	$4.66	23d	1	0.69mi
9535 Frangipani Dr Vero Beach, FL	3.0	2.0	1700	$4,750	$2.79	15d	1	0.74mi

HOA detail condo

• Monthly dues: $1,434 · $17,208/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-02-20
   listed $333,500 Active
2. 2026-02-20
   listed $333,500 Active
3. 2002-10-30
   soldstatus $190,500
4. 1989-04-01
   soldstatus $153,300

ⓘ 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: $1,949 · $162/mo
• Projected year-2 tax: $2,768 · $231/mo
• Expected delta: +$819/yr (+$68/mo · 42.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 23 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: $50,606
• − Mortgage interest: −$18,681
• − Property taxes: −$1,949
• − Insurance: −$2,465
• − Repairs & maintenance: −$4,048
• − Management: −$4,048
• − HOA: −$17,208
• − Depreciation: −$9,702
• Taxable loss: −$7,496
• Est. tax savings @ 24.0%: +$1,799
• After-tax cash flow: $-831/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 — Wabasso Beach

• Score: 63/100
• State rank: #712
• US rank: #15157

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: Wabasso Beach, FL
• County: Indian River County · 143,738 people
• 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

+117.5% since first listed

4 events — show timeline

• 2026-02-20 Listed $333,500 SCMLS
• 2026-02-20 Listed $333,500 RAIRCMLS
• 2002-10-30 Sold (Public Records) $190,500 Public Records
• 1989-04-01 Sold (Public Records) $153,300 Public Records

Property tax history

+1.3%/yr

Latest (2025): $1,949 · +4.1% YoY. Source: county tax records.