1 Montanzas Rd

Port St. Lucie, FL 34952

$17,000F

2 bd · 2.0 ba · 1,248 sqft · Built 1979 · Manufactured · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,944/mo
• Mortgage (P&I): −$812
• Tax + insurance: −$258
• HOA: −$1,027
• Vac / Maint / Mgmt: −$408
• Net cashflow: $-561/mo
• Annual: $-6,727/yr
• Cap rate: 1.95%
• Cash-on-cash: -15.53%
• DSCR: 0.31
• 1% rule: 1.26%
• Cash to close: $43,331

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $17k.
• At list price, monthly cash flow is $-561 ($-7k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $17k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads: area grade F — 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.
• Zoned schools: Savanna Ridge Elementary School (math 40% / reading 45%, grade F, #1,383 of 2,144 statewide, top 65%, 452 students, 75% FRL); Port St. Lucie High School (math 21% / reading 43%, grade F, #415 of 667 statewide, top 63%, 1,748 students, 67% FRL).
• Watch-outs: property tax is 13.7% of price; HOA is 53% of rent.
• Market conditions: Rents rising (+1.9%/yr); 646 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• St. Lucie County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 10y ago 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 1.9% vs local median 3.9% in Port St. Lucie — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent runs 38% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.