5790 Marina Dr · Sebastian, FL 32958

$200,000

2 bd · 2.0 ba · 1,000 sqft · Townhouse · 310 Days on market

55+ age-restricted Built 1986 Good condition $200/sqft · 11% below area Est $225k · 11% under

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Why this score? — see what drove the C 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 +17.8/30.0
• ARV discount +12.6/15.0
• DSCR +5.8/10.0
• 1% rule +5.2/10.0
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Appreciation +0.0/10.0

Listing remarks

* Location * Location * Location * Calling savvy investors - This first-floor 2BR/2BA in Gated Non-age restricted community is a steal. Lanai overlooks a private golf and water view, & the bird show on a rainy day is nothing short of spectacular. When you're at the clubhouse and forget something, it's a short walk back to the house. We also don't overlook any garbage or parking. Simply pull the car to the side, unload practically at the front door and then drive to the other side of the building where they deal with those issues. Nothing beats the amenities that you'll find at Pelican Pointe. The grounds are situated on a golf course, and are absolutely stunning.

Key facts

• Gated community
• Private golf view
• Clubhouse

Tags

• GATED COMMUNITY
• PRIVATE GOLF VIEW
• WATER VIEW
• CLUBHOUSE
• HEATED SALTWATER POOL
• GYM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $200k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $202 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 4.2% in Sebastian — 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 81/100 on livability (#89 in FL, #1,421 nationally) — a professional / high-income tenant draw. Strengths: housing A+, crime A, health & safety A; Watch: amenities D-.
• 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: Pelican Island Elementary School (math 47% / reading 52%, grade D, #1,088 of 2,144 statewide, top 53%, 343 students, 70% FRL); Storm Grove Middle School (math 54% / reading 55%, grade B-, #183 of 571 statewide, top 34%, 1,020 students, 50% FRL); Sebastian River High School (math 29% / reading 45%, grade F, #340 of 667 statewide, top 52%, 1,843 students, 52% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: Rents rising fast (+6.2%/yr); 628 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 51d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).
• This rent runs 38% 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 $1k of loan paydown is wiped out by about $6k 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 310 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 8991% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 310 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.04% ✓
• Cap rate: 7.91%
• Cash-on-cash: 5.76%
• DSCR: 1.26
• GRM: 8.0

CMA / ARV

• ARV (median comp): $225,380
• List price: $200,000
• Delta: -11.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9632 Riverside Dr #3	0.12mi	2/2.0	990 (-1%)	5mo	$198,000	$200	88
5720 Pelican Pointe Dr #3	0.04mi	2/2.0	1,060 (+6%)	2mo	$238,000	$225	87
5725 Pelican Pointe Dr #4	0.07mi	2/2.0	1,030 (+3%)	9mo	$230,000	$223	84
9615 Estuary Way #4	0.14mi	2/2.0	1,060 (+6%)	2mo	$219,900	$207	81
9612 Riverside Dr #302	0.22mi	2/2.0	1,026 (+3%)	6mo	$330,000	$322	80
5720 Marina Dr #2	0.08mi	2/2.0	1,060 (+6%)	8mo	$232,500	$219	80
9645 Estuary Way #4	0.12mi	2/2.0	1,060 (+6%)	7mo	$220,000	$208	78
9635 Riverside Dr #3	0.14mi	2/2.0	1,060 (+6%)	8mo	$240,000	$226	76
9400 N Us Highway 1 #304	0.26mi	2/2.0	1,070 (+7%)	0mo	$150,000	$140	76
9645 Estuary Way #1	0.12mi	2/2.0	1,066 (+7%)	9mo	$210,000	$197	76
5760 Marina Dr #4	0.12mi	2/2.0	1,060 (+6%)	13mo	$200,000	$189	74
9635 Riverside Dr #4	0.13mi	2/3.0	1,060 (+6%)	10mo	$182,500	$172	72

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -5.8%
• Equity multiple: 0.78×
• Total profit: $-12,465
• Equity at exit: $29,821

10-year hold

• IRR: 7.5%
• Equity multiple: 1.65×
• Total profit: $36,670
• Equity at exit: $17,292

Cash invested: $56,000 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 11 active · 5 under contract
• Months of supply: 16.5 mo (6%/mo absorbed)
• Median asking: $229,000 ($222/sqft)
• Median days on market: 57 d
• This list price: 9% of active listings are priced below it
• ARV vs active asking: +1.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 32958

• Home prices YoY: -13.1%
• Rents YoY: 6.2%
• Active inventory: 628
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,090 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $202

Break-even live

Break-even rent $1,834

Max offer price $200,000

Occupancy floor 85%

Sensitivity live

Price	-10% $340	-5% $271	+0% $202	+5% $133	+10% $64
Rent	-10% $37	-5% $120	+0% $202	+5% $285	+10% $367
Rate	-1.0pp $303	-0.5pp $253	base $202	+0.5pp $150	+1.0pp $98

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: $50,000
• Closing costs: $6,000
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5790 Marina Dr #2 Sebastian, FL	2.0	2.0	1060	$1,900	$1.79	10d	1	0.09mi
5790 Marina Dr #2 Sebastian, FL	2.0	2.0	1060	$2,200	$2.08	154d	1	0.09mi
9635 Riverside Dr #4 Sebastian, FL	2.0	2.0	1060	$2,200	$2.08	10d	1	0.12mi
141 Crawford Dr Sebastian, FL	2.0	1.0	1100	$2,200	$2.00	154d	1	1.22mi
151 Mabry St Sebastian, FL	3.0	2.0	1199	$1,850	$1.54	162d	1	1.32mi
117 Admiral Cir Unit B Sebastian, FL	2.0	1.0	1020	$1,295	$1.27	51d	1	1.37mi
160 Empress Ave Unit B Sebastian, FL	3.0	2.0	1148	$1,675	$1.46	28d	1	1.44mi
160 Empress Ave Unit B Sebastian, FL	3.0	2.0	1148	$1,675	$1.46	51d	1	1.44mi
6175 S Mirror Lake Dr Unit 207 Sebastian, FL	2.0	2.0	1199	$2,500	$2.09	45d	1	1.44mi
6219 S Mirror Lake Dr Unit 6219 Sebastian, FL	2.0	2.0	1098	$3,000	$2.73	10d	1	1.49mi

Listing history 50 events

1. 2026-11-08
   days on market $200,000 Active 310 DOM
2. 2026-11-07
   days on market $200,000 Active 309 DOM
3. 2026-11-06
   days on market $200,000 Active 308 DOM
4. 2026-11-05
   days on market $200,000 Active 307 DOM
5. 2026-11-04
   days on market $200,000 Active 306 DOM
6. 2026-11-02
   days on market $200,000 Active 304 DOM
7. 2026-11-01
   days on market $200,000 Active 303 DOM
8. 2026-10-31
   days on market $200,000 Active 302 DOM
9. 2026-10-30
   days on market $200,000 Active 301 DOM
10. 2026-10-29
    days on market $200,000 Active 300 DOM
11. 2026-10-28
    days on market $200,000 Active 299 DOM
12. 2026-10-27
    days on market $200,000 Active 298 DOM
13. 2026-10-26
    days on market $200,000 Active 297 DOM
14. 2026-10-25
    days on market $200,000 Active 296 DOM
15. 2026-10-24
    days on market $200,000 Active 295 DOM
16. 2026-10-23
    days on market $200,000 Active 294 DOM
17. 2026-10-22
    days on market $200,000 Active 293 DOM
18. 2026-10-21
    days on market $200,000 Active 292 DOM
19. 2026-10-20
    days on market $200,000 Active 291 DOM
20. 2026-10-19
    days on market $200,000 Active 290 DOM
21. 2026-10-18
    days on market $200,000 Active 289 DOM
22. 2026-10-17
    days on market $200,000 Active 288 DOM
23. 2026-10-16
    days on market $200,000 Active 287 DOM
24. 2026-10-15
    days on market $200,000 Active 286 DOM
25. 2026-10-14
    days on market $200,000 Active 285 DOM
26. 2026-10-13
    days on market $200,000 Active 284 DOM
27. 2026-10-12
    days on market $200,000 Active 283 DOM
28. 2026-10-11
    days on market $200,000 Active 282 DOM
29. 2026-10-10
    days on market $200,000 Active 281 DOM
30. 2026-10-09
    days on market $200,000 Active 280 DOM
31. 2026-10-08
    days on market $200,000 Active 279 DOM
32. 2026-10-07
    days on market $200,000 Active 278 DOM
33. 2026-10-06
    days on market $200,000 Active 277 DOM
34. 2026-10-05
    days on market $200,000 Active 276 DOM
35. 2026-10-04
    days on market $200,000 Active 275 DOM
36. 2026-10-03
    days on market $200,000 Active 274 DOM
37. 2026-10-02
    days on market $200,000 Active 273 DOM
38. 2026-10-01
    days on market $200,000 Active 272 DOM
39. 2026-09-30
    days on market $200,000 Active 271 DOM
40. 2026-09-29
    days on market $200,000 Active 270 DOM
41. 2026-09-28
    days on market $200,000 Active 269 DOM
42. 2026-09-27
    days on market $200,000 Active 268 DOM
43. 2026-09-26
    days on market $200,000 Active 267 DOM
44. 2026-09-25
    days on market $200,000 Active 266 DOM
45. 2026-09-24
    days on market $200,000 Active 265 DOM
46. 2026-09-24
    days on market $200,000 Active 264 DOM
47. 2026-09-22
    days on market $200,000 Active 263 DOM
48. 2026-09-20
    days on market $200,000 Active 261 DOM
49. 2026-09-18
    days on market $200,000 Active 259 DOM
50. 2026-09-17
    days on market $200,000 Active 258 DOM

ⓘ 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: $25,077
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,798
• − Repairs & maintenance: −$2,006
• − Management: −$2,006
• − Depreciation: −$5,818
• Taxable loss: −$754
• Est. tax savings @ 24.0%: +$181
• After-tax cash flow: $2,608/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 · 13 photos

Good 75/100 Cosmetic rehab Est. rehab $5,000–$15,000 screening

This first-floor 2BR/2BA townhouse in a gated community is in good condition with no visible repairs needed. The home has a good curb appeal and is located in a desirable location with a golf and water view. Painting the exterior and improving the landscaping can further enhance its value.

Value-add opportunities

• Resale Painting the exterior siding and roof — Painting the exterior can enhance the home's curb appeal and make it more attractive to potential buyers. ↑
• Rental Landscaping improvements — Improving the landscaping can make the property more appealing to renters and increase its rental value. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 47/100

Zoned Schools

Elementary Pelican Island Elementary School D FL #1,088/2,144 Nat'l #12,785/41,679 Middle Storm Grove Middle School B- FL #183/571 Nat'l #2,564/14,009 High Sebastian River High School F FL #340/667 Nat'l #9,001/17,239

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

A Composite livability gradescore 81/100

Livability — Sebastian

• Score: 81/100
• State rank: #89
• US rank: #1421

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Indian River County · 165,104 people
• City population: 30,023
• 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: 16% of renters

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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%

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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%
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 1%

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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

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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

-98.9% since first listed

2 events — show timeline

• 2026-03-03 Listed for Rent $2,200 APPFOLIO
• 2026-01-02 Listed $200,000 ForSaleByOwner.com