204 N 17th St N · Fort Pierce, FL 34950

$499,000

3 bd · 2.0 ba · 2,019 sqft · MultiFamily public records · 106 Days on market

Built 1941 0.33 ac lot

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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 +15.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Rent growth +4.0/5.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• 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: 3 units. confirmed

Listing remarks MLS

Come take a look at this great investment opportunity, property is a single family that is located in the front and it features an efficiency in the back, great opportunity to develop, fix, rebuild and keep the profits. Large lot, centrally located, just minutes away from downtown fort pierce. Buyer will have to sign a hold harmless agreement.

Key facts

• Metal roof
• Fresh paint
• Turnkey units

Tags

• TURNKEY UNITS
• UPDATED KITCHENS
• UPDATED BATHROOMS
• STYLISH FLOORING
• FRESH PAINT
• METAL ROOF

Property features AI

Finance

• Financial info: 3 total units; Gross income: $64,200; Net operating income: $57,700; Tenants pay cable TV, electricity, sewer and water
• HOA & community: No association amenities

Exterior

• Utilities: Public water; Public sewer; Three-phase electric; Sewer available; Water available
• Home design: Triplex; Resale property
• Construction: Stucco and CBS construction; Composition and metal roof
• Exterior features: Not waterfront

Interior

• Flooring: Laminate
• Bathrooms: 4 total bathrooms
• Heating & cooling: Heating present (type: Other); Central air conditioning; Wall/window unit(s)
• Interior features: Laminate flooring

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.5-bath units multifamily listed at $499k.

Deal economics

• At list price, monthly cash flow is $205 ($2k/yr) — positive. Per door: $68/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $440k (11.8% below list).
• Recommended offer: $440k (11.8% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.7% in Fort Pierce — 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 76/100 on livability (#226 in FL, #3,360 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, amenities F, employment 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.
• Zoned schools: Weatherbee Elementary School (math 32% / reading 32%, grade F, #1,797 of 2,144 statewide, top 86%, 672 students, 90% FRL); Dan Mccarty Middle School (math 23% / reading 23%, grade F, #542 of 571 statewide, top 95%, 747 students, 88% FRL); Fort Pierce Westwood Academy The W.E.S.T. Prep Magnet (math 16% / reading 36%, grade F, #494 of 667 statewide, top 75%, 2,010 students, 75% FRL) — zoned schools average 85% FRL vs 59% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 44% district-wide (-17 pts) — the specific schools serving this property underperform the St. Lucie average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.9%/yr); 165 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k 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 106 days — a 9% lower offer ($454k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y ago; this cycle's ask has dropped $31k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $21k; list at $499k implies a 2276% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $440,100 (11.8% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 12% 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 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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?
10. 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.
11. 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.
12. 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: 0.88% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.76%
• DSCR: 1.08
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.94% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.61×
• Total profit: $-54,416
• Equity at exit: $74,403

10-year hold

• IRR: 2.5%
• Equity multiple: 1.20×
• Total profit: $27,708
• Equity at exit: $43,144

Cash invested: $139,720 (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 34950

• Home prices YoY: -20.2%
• Rents YoY: 5.9%
• Active inventory: 165
• Price-to-rent: 28.3×

Monthly cashflow live

• Estimated rent: $4,401 high
• Mortgage (P&I): −$2,617
• Tax from tax record: −$447 /mo · $5,359/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$924
• Net cashflow: $205

Break-even live

Break-even rent $4,141

Max offer price $499,000

Occupancy floor 90%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.5	$4,401
Total (3 units)			$4,401

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
318 N 24th St Fort Pierce, FL	3.0	2.5	1952	$2,600	$1.33	23d	1	0.50mi
308 S 8th St Fort Pierce, FL	2.0	2.0	1696	$1,900	$1.12	23d	1	0.67mi
1102 Avenue G Fort Pierce, FL	3.0	1.5	1870	$1,800	$0.96	23d	1	0.72mi
1433 Captains Walk Unit A Fort Pierce, FL	2.0	2.0	1850	$2,500	$1.35	23d	1	0.93mi
1701 Sunrise Blvd Fort Pierce, FL	3.0	2.0	1518	$2,000	$1.32	13d	1	1.25mi
501 Wendell Rd Unit A Fort Pierce, FL	2.0	1.0	1920	$1,790	$0.93	23d	1	1.29mi

Listing history 23 events

1. 2026-06-13
   statusdays on market $499,000 Pending 106 DOM
2. 2026-06-10
   days on market $499,000 Active 104 DOM
3. 2026-06-09
   days on market $499,000 Active 103 DOM
4. 2026-06-08
   days on market $499,000 Active 102 DOM
5. 2026-06-07
   days on market $499,000 Active 101 DOM
6. 2026-06-05
   days on market $499,000 Active 98 DOM
7. 2026-06-03
   days on market $499,000 Active 97 DOM
8. 2026-06-02
   days on market $499,000 Active 96 DOM
9. 2026-06-01
   days on market $499,000 Active 95 DOM
10. 2026-05-31
    days on market $499,000 Active 94 DOM
11. 2026-05-30
    days on market $499,000 Active 93 DOM
12. 2026-05-11
    price $499,000
13. 2026-02-27
    listed $530,000 Active
14. 2020-02-14
    soldstatus $21,000 Closed 345-char remark

    Show marketing remark (345 chars)

    Come take a look at this great investment opportunity, property is a single family that is located in the front and it features an efficiency in the back, great opportunity to develop, fix, rebuild and keep the profits. Large lot, centrally located, just minutes away from downtown fort pierce. Buyer will have to sign a hold harmless agreement.

15. 2020-01-16
    status Pending 345-char remark

    Show marketing remark (345 chars)

    Come take a look at this great investment opportunity, property is a single family that is located in the front and it features an efficiency in the back, great opportunity to develop, fix, rebuild and keep the profits. Large lot, centrally located, just minutes away from downtown fort pierce. Buyer will have to sign a hold harmless agreement.

16. 2020-01-13
    status Active 345-char remark

    Show marketing remark (345 chars)

    Come take a look at this great investment opportunity, property is a single family that is located in the front and it features an efficiency in the back, great opportunity to develop, fix, rebuild and keep the profits. Large lot, centrally located, just minutes away from downtown fort pierce. Buyer will have to sign a hold harmless agreement.

17. 2019-12-31
    status Pending 345-char remark

    Show marketing remark (345 chars)

    Come take a look at this great investment opportunity, property is a single family that is located in the front and it features an efficiency in the back, great opportunity to develop, fix, rebuild and keep the profits. Large lot, centrally located, just minutes away from downtown fort pierce. Buyer will have to sign a hold harmless agreement.

18. 2019-12-19
    listed $19,900 Active 345-char remark

    Show marketing remark (345 chars)

    Come take a look at this great investment opportunity, property is a single family that is located in the front and it features an efficiency in the back, great opportunity to develop, fix, rebuild and keep the profits. Large lot, centrally located, just minutes away from downtown fort pierce. Buyer will have to sign a hold harmless agreement.

19. 2018-06-26
    historical
20. 2002-04-18
    soldstatus $27,000
21. 2001-11-21
    soldstatus $17,500
22. 2001-08-29
    listed $49,900
23. 1985-01-01
    soldstatus $39,000

ⓘ 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: $5,359 · $447/mo
• Projected year-2 tax: $5,359 · $447/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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 24 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: $52,812
• − Mortgage interest: −$27,952
• − Property taxes: −$5,359
• − Insurance: −$2,495
• − Repairs & maintenance: −$4,225
• − Management: −$4,225
• − Depreciation: −$14,516
• Taxable loss: −$5,960
• Est. tax savings @ 24.0%: +$1,431
• After-tax cash flow: $3,896/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 — Fort Pierce

• Score: 76/100
• State rank: #226
• US rank: #3360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Pierce, FL
• County: Saint Lucie County · 337,150 people
• City population: 78,556
• Metro: Port St. Lucie, FL
• Population (ZIP): 17,461
• Household income: $30,400
• Rent vs Own: 61.1% rent · 38.9% own
• Severe rent burden: 1995.0

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: Majority Black (63%)
• Race & ethnicity: Black 63% Hispanic / Latino 19% White 17% Two or more races 10%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2% Cuban 1%
• Common ancestry: Hispanic 17% Portuguese 1%
• Foreign-born: 23% · Canada
• Languages at home: 69% English-only · Spanish 14% French/Haitian/Cajun 12% Other Indo-European 4%

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: ▼ -97.20%
• Current HPI: 384.8532
• Rent YoY: ▲ 5.94%
• 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

+1179.5% since first listed

12 events — show timeline

• 2026-05-11 Price Changed $499,000 Beaches MLS
• 2026-02-27 Listed $530,000 Beaches MLS
• 2020-02-14 Sold (MLS) $21,000 Beaches MLS
• 2020-01-16 Pending — Beaches MLS
• 2020-01-13 Relisted — Beaches MLS
• 2019-12-31 Pending — Beaches MLS
• 2019-12-19 Listed $19,900 Beaches MLS
• 2018-06-26 Listing Removed — Beaches MLS
• 2002-04-18 Sold (Public Records) $27,000 Public Records
• 2001-11-21 Sold (Public Records) $17,500 Public Records
• 2001-08-29 Listed $49,900 Beaches MLS
• 1985-01-01 Sold (Public Records) $39,000 Public Records

Property tax history

+23.3%/yr

Latest (2025): $5,359 · +269.1% YoY. Source: county tax records.