Belmont Plan

Port St. Lucie, FL 34987

$360,990F

3 bd · 2.0 ba · 1,429 sqft · Built — · SingleFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,777/mo
• Mortgage (P&I): −$2,479
• Tax + insurance: −$788
• HOA: −$0
• Vac / Maint / Mgmt: −$583
• Net cashflow: $-1,073/mo
• Annual: $-12,874/yr
• Cap rate: 3.57%
• Cash-on-cash: -9.73%
• DSCR: 0.57
• 1% rule: 0.59%
• Cash to close: $132,356

Investor read

• This is a 3-bed/2.0-bath single-family listed at $361k. Condition is rated excellent.
• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $317k (12.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $278k (23.1% below list).
• It's been on market 44 days — a 3% lower offer ($350k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $278k (23.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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: Manatee Academy K-8 (math 53% / reading 51%, grade C-, #990 of 2,144 statewide, top 48%, 1,664 students, 65% FRL); Southern Oaks Middle School (math 39% / reading 43%, grade F, #353 of 571 statewide, top 63%, 894 students, 76% FRL); Fort Pierce Central High School (math 15% / reading 45%, grade F, #441 of 667 statewide, top 67%, 3,091 students, 62% FRL).
• Market conditions: Rents rising (+2.8%/yr); 1817 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 49d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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.
• This rent runs 37% of the median local income ($90k/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?
• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
• 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.