1821 Mooringline Dr Unit 2F · South Beach, FL 32963

$450,000

2 bd · 2.0 ba · 1,880 sqft · Condo public records · 134 Days on market

Built 1980 $1140/mo HOA · 24% of rent

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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 +11.8/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Rent growth +5.0/5.0
• Schools +4.2/10.0
• DSCR +3.5/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

MEMBERSHIP TO THE MOORINGS YACHT & COUNTRY CLUB JUST GOT EASIER! Membership available upon approval. Open, light, bright spacious 2/2 unit on 2nd flr. Recently renovated kitchen w/ marble countertops, SS appliances. The main living area features wall to wall sliding glass doors filling the room w/ sunshine & tropical breezes. 3 large walk in closets, split BR plan for privacy, crown moldings & partial furnishings make it easy to move right in. Amenities include pool, bbg area, tennis courts, marina & party rm. Allstate mandated renovation work completed & all assessments paid.

Key facts

• Bbq area
• Pool
• Split br plan

Tags

• RECENTLY RENOVATED KITCHEN
• LARGE WALK IN CLOSETS
• SPLIT BR PLAN
• CROWN MOLDINGS
• POOL
• BBQ AREA

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Association: AR Choice; Monthly association fee (dues paid monthly); Association fee covers common areas, insurance, grounds and structure maintenance, parking, reserve fund, sewer, security, trash and water; Community amenities include elevator, pool, tennis courts, game room, bicycle storage and storage facilities

Exterior

• Parking: Assigned parking; Carport; 1 carport space
• Security: Phone entry; Security guard
• Utilities: Public water; Public sewer
• Home design: 4-story building; Has property attached; Reception area in building
• Construction: Block and concrete construction; Built-up / tar and gravel roof
• Exterior features: Balcony; Enclosed porch; Porch (screened); Beach access; Has a view facing southwest

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher; Electric water heater
• Bedrooms: Bedroom (10x12); Bedroom (12x12)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Blinds on windows; Sliding doors; Crown molding; Split bedroom floor plan; Walk-in closet(s); Partially furnished
• Laundry & utility: In-unit laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $450k.

Deal economics

• At list price, monthly cash flow is $-188 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $417k (7.4% below list).
• Meets the 1% rule at list price ($5k rent vs $450k).
• Recommended offer: $396k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.0% vs local median 1.8% in South Beach — 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 67/100 on livability (#567 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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.
• Zoned schools: Beachland Elementary School (math 54% / reading 58%, grade C+, #832 of 2,144 statewide, top 40%, 523 students, 39% FRL); Gifford Middle School (math 46% / reading 45%, grade D+, #305 of 571 statewide, top 54%, 582 students, 72% FRL); Vero Beach High School (math 28% / reading 43%, grade F, #367 of 667 statewide, top 57%, 2,847 students, 50% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents rising fast (+11.0%/yr); 501 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).
• This rent runs 38% of the median local income ($150k/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 $3k of loan paydown is wiped out by about $14k 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 134 days — a 12% lower offer ($396k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.
• Current owner paid $200k; list at $450k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 24% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 8→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $396,000 (12.0% 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. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.07% ✓
• Cap rate: 5.97%
• Cash-on-cash: -1.16%
• DSCR: 0.95
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.53×
• Total profit: $-58,928
• Equity at exit: $67,096

10-year hold

• IRR: 4.4%
• Equity multiple: 1.41×
• Total profit: $51,138
• Equity at exit: $38,908

Cash invested: $126,000 (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 →

ZIP-level market 32963

• Rents YoY: 11.0%
• Active inventory: 501
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $4,798 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$224 /mo · $2,694/yr
• Insurance: −$188
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,140
• Vacancy / Maint / Mgmt: −$1,008
• Net cashflow: $-188

Break-even live

Break-even rent $5,036

Max offer price $416,798

Occupancy floor 99%

Sensitivity live

Price	-10% $67	-5% $-61	+0% $-188	+5% $-315	+10% $-443
Rent	-10% $-567	-5% $-377	+0% $-188	+5% $2	+10% $191
Rate	-1.0pp $39	-0.5pp $-73	base $-188	+0.5pp $-305	+1.0pp $-423

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1821 Mooringline Dr Unit 1C Vero Beach, FL	2.0	2.0	1900	$2,500	$1.32	15d	1	0.04mi
1815 Mooringline Dr Unit 1 Vero Beach, FL	2.0	2.0	1880	$3,000	$1.60	23d	1	0.07mi
1815 Mooringline Dr Unit 2E Vero Beach, FL	2.0	2.0	1880	$3,200	$1.70	23d	1	0.07mi
1850 Bay Rd Unit 3G Vero Beach, FL	2.0	2.0	1900	$4,000	$2.11	23d	1	0.10mi
1001 Bay Rd Vero Beach, FL	2.0	2.0–3.0	1680	$4,750	$2.83	23d	2	0.13mi
1880 Bay Rd Unit I319 Vero Beach, FL	3.0	3.0	1610	$8,500	$5.28	23d	1	0.18mi
856 Norfolk Pine Ln Vero Beach, FL	3.0	3.0	2541	$10,000	$3.94	15d	1	0.55mi
505 Spyglass Ln Unit 505B Vero Beach, FL	2.0	2.0	1580	$8,000	$5.06	15d	1	0.60mi
2160 Sanford Ct Vero Beach, FL	3.0	3.0	2571	$30,000	$11.67	23d	1	0.66mi
2155 Galleon Dr Unit E4 Vero Beach, FL	2.0	2.0	1475	$2,995	$2.03	23d	1	0.71mi
1155 Reef Rd Vero Beach, FL	2.0	2.0	1511	$3,000	$1.99	15d	2	0.75mi
1946 Surfside Ter Vero Beach, FL	3.0	2.0	2129	$3,900	$1.83	15d	1	0.86mi
2246 Magans Ocean Walk Vero Beach, FL	3.0	3.0	2089	$15,000	$7.18	23d	1	0.93mi
2244 Magans Ocean Walk Vero Beach, FL	3.0	2.0	1666	$11,500	$6.90	15d	1	0.95mi
2225 Seaside St Vero Beach, FL	3.0	3.0	2449	$10,000	$4.08	23d	1	1.01mi
2155 Dunmore Ln Vero Beach, FL	3.0	2.5	2300	$5,000	$2.17	23d	1	1.07mi
1839 E Sandpointe Ln Vero Beach, FL	3.0	3.0	2500	$10,000	$4.00	23d	1	1.08mi

HOA detail condo

• Monthly dues: $1,140 · $13,680/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-01-12
   listed $450,000 Active
2. 2025-05-26
   historical
3. 2025-02-22
   listed $515,000 Active
4. 2025-02-03
   listed $515,000 Active
5. 2016-06-15
   soldstatus $200,000
6. 2016-06-15
   soldstatus $200,000
7. 2005-09-22
   soldstatus $335,000
8. 1993-03-17
   soldstatus $151,000
9. 1989-12-01
   soldstatus $152,500

ⓘ 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: $2,694 · $224/mo
• Projected year-2 tax: $3,735 · $311/mo
• Expected delta: +$1,041/yr (+$87/mo · 38.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 8 d/yr ≥106°F today · 27 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: $57,574
• − Mortgage interest: −$25,207
• − Property taxes: −$2,694
• − Insurance: −$3,048
• − Repairs & maintenance: −$4,606
• − Management: −$4,606
• − HOA: −$13,680
• − Depreciation: −$13,091
• Taxable loss: −$9,356
• Est. tax savings @ 24.0%: +$2,246
• After-tax cash flow: $-10/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: 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 — South Beach

• Score: 67/100
• State rank: #567
• US rank: #10847

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Beach, FL
• County: Indian River County · 143,738 people
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 15,008
• Household income: $149,923
• Rent vs Own: 4.9% rent · 95.1% own
• Severe rent burden: 119.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Slovak 5% Lithuanian 4% Italian 3%
• Foreign-born: 9% · Canada
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 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: ▼ -180.47%
• Current HPI: 312.0326
• Rent YoY: ▲ 11.04%
• 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

+195.1% since first listed

9 events — show timeline

• 2026-01-12 Listed $450,000 RAIRCMLS
• 2025-05-26 Listing Removed — Beaches MLS
• 2025-02-22 Listed $515,000 Beaches MLS
• 2025-02-03 Listed $515,000 RAIRCMLS
• 2016-06-15 Sold (Public Records) $200,000 Public Records
• 2016-06-15 Sold (MLS) $200,000 RAIRCMLS
• 2005-09-22 Sold (Public Records) $335,000 Public Records
• 1993-03-17 Sold (Public Records) $151,000 Public Records
• 1989-12-01 Sold (Public Records) $152,500 Public Records

Property tax history

+2.6%/yr

Latest (2025): $2,694 · +3.6% YoY. Source: county tax records.