5745 Marina Dr · Wabasso, FL 32958

$249,000

2 bd · 2.0 ba · 1,060 sqft · Other · 24 Days on market

Built 1987 Fair condition

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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 +13.1/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Rent growth +4.1/5.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Livability +3.3/5.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Renovated vaulted ceilings, three exposures super bright, super quiet, new air conditioner, heater water heater. . second floor water views on both sides a beautiful home.

Key facts

• Water views
• Vaulted ceilings
• Built 1987

Tags

• VAULTED CEILINGS
• WATER VIEWS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $249k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-74 ($-887/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (12.9% below list).
• Recommended offer: $217k (12.9% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.4% in Wabasso — 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 66/100 on livability (#626 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, crime A, cost of living A-; Watch: employment D, schools F, amenities 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.
• Market conditions: Rents rising fast (+6.2%/yr); 412 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).
• This rent runs 39% of the median local income ($67k/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 $7k 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 24 days — a 2% lower offer ($245k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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 $216,875 (12.9% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 0.87% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.13%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.22% rent growth · sell at horizon

5-year hold

• IRR: -14.7%
• Equity multiple: 0.46×
• Total profit: $-37,731
• Equity at exit: $37,127

10-year hold

• IRR: -1.2%
• Equity multiple: 0.90×
• Total profit: $-6,820
• Equity at exit: $21,529

Cash invested: $69,720 (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 32958

• Home prices YoY: -13.1%
• Rents YoY: 6.2%
• Active inventory: 412
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,169 medium
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $-74

Break-even live

Break-even rent $2,262

Max offer price $238,302

Occupancy floor 98%

Sensitivity live

Price	-10% $98	-5% $12	+0% $-74	+5% $-160	+10% $-246
Rent	-10% $-245	-5% $-160	+0% $-74	+5% $12	+10% $97
Rate	-1.0pp $51	-0.5pp $-11	base $-74	+0.5pp $-138	+1.0pp $-204

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5790 Marina Dr #2 Sebastian, FL	2.0	2.0	1060	$2,200	$2.08	22d	1	0.02mi
5790 Marina Dr #2 Sebastian, FL	2.0	2.0	1060	$2,200	$2.08	14d	1	0.09mi
141 Crawford Dr Sebastian, FL	2.0	1.0	1100	$2,200	$2.00	14d	1	1.22mi
151 Mabry St Sebastian, FL	3.0	2.0	1199	$1,850	$1.54	22d	1	1.32mi

Listing history 17 events

1. 2026-06-19
   days on market $249,000 Active 24 DOM
2. 2026-06-18
   days on market $249,000 Active 23 DOM
3. 2026-06-17
   days on market $249,000 Active 22 DOM
4. 2026-06-16
   days on market $249,000 Active 21 DOM
5. 2026-06-15
   days on market $249,000 Active 20 DOM
6. 2026-06-14
   days on market $249,000 Active 18 DOM
7. 2026-06-13
   days on market $249,000 Active 17 DOM
8. 2026-06-10
   days on market $249,000 Active 15 DOM
9. 2026-06-09
   days on market $249,000 Active 14 DOM
10. 2026-06-08
    days on market $249,000 Active 13 DOM
11. 2026-06-07
    days on market $249,000 Active 12 DOM
12. 2026-06-05
    days on market $249,000 Active 9 DOM
13. 2026-06-02
    days on market $249,000 Active 7 DOM
14. 2026-06-01
    days on market $249,000 Active 6 DOM
15. 2026-05-31
    days on market $249,000 Active 5 DOM
16. 2026-05-30
    days on market $249,000 Active 4 DOM
17. 2026-05-26
    listed $249,000 Active

ⓘ 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 10/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,025
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$2,042
• − Repairs & maintenance: −$2,082
• − Management: −$2,082
• − Depreciation: −$7,244
• Taxable loss: −$5,108
• Est. tax savings @ 24.0%: +$1,226
• After-tax cash flow: $339/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.

Condition & rehab AI · 0 photos

Fair 40/100 Cosmetic rehab

The home is in fair condition with cosmetic updates needed, particularly in the kitchen and bathrooms. Fresh paint and new fixtures would significantly enhance its resale value.

Repairs flagged

• Minor kitchen cabinets — No visible damage, but no specific details on condition.
• Minor bathroom fixtures — No visible damage, but no specific details on condition.
• Minor interior paint — No visible damage, but no specific details on condition.

Value-add opportunities

• Resale Paint interior walls — Fresh paint can make a significant difference in the home's appearance and appeal to potential buyers.
• Resale Replace kitchen cabinets — New cabinets can enhance the home's value and appeal to potential buyers.
• Resale Upgrade bathroom fixtures — Modern fixtures can improve the home's appeal and functionality.

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · No visible damage, but no specific details on condition.	Minor	$500–3,000
bathroom fixtures · No visible damage, but no specific details on condition.	Minor	$500–3,000
interior paint · No visible damage, but no specific details on condition.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint can make a significant difference in the home's appearance and appeal to potential buyers. ↑
• Resale Replace kitchen cabinets — New cabinets can enhance the home's value and appeal to potential buyers. ↑
• Resale Upgrade bathroom fixtures — Modern fixtures can improve the home's appeal and functionality. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• Score: 66/100
• State rank: #626
• US rank: #12197

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Indian River County · 143,738 people
• City population: 287
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 30,023
• Household income: $66,840
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 646.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 7% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 3%
• Common ancestry: Lithuanian 4% Slovak 4% Romanian 3%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -49.85%
• Current HPI: 330.1691
• Rent YoY: ▲ 6.22%
• 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

1 event — show timeline

• 2026-05-26 Listed $249,000 FSBO.com