76 Royal Oak Dr #104 · Florida Ridge, FL 32962

$79,800

1 bd · 1.0 ba · 630 sqft · Condo public records · 26 Days on market

Built 1979 $419/mo HOA · 31% of rent

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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 +21.1/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

First Floor 1BDR/1BA condo with lake views in active 55+ community. Brand new AC June 2025 + new carpet July 2025! Summertime Energy Saver, Beautiful Lake and Golf Views from your front window. Many amenities. Community pool, hot tub/spa, tennis, pickleball, fitness center, billiards, golf and more! Close to shopping, dining and beaches.

Key facts

• Tennis
• Fitness center
• Hot tub spa

Tags

• LAKE VIEWS
• COMMUNITY POOL
• HOT TUB SPA
• TENNIS
• PICKLEBALL
• FITNESS CENTER

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Association: CAMPBELL; Monthly association fee ($419) covering common areas, cable TV, grounds maintenance, structure maintenance, recreation facilities, reserve fund, roof, sewer, trash and water; Community amenities: clubhouse, fitness center, billiard and game rooms, tennis and pickleball courts, pool; Senior community

Exterior

• Parking: Assigned uncovered parking
• Security: Smoke detectors
• Utilities: Public water; County sewer
• Home design: 2-story building; Faces south; Property attached (multifamily/attached unit)
• Construction: Brick, block, concrete, and stucco construction
• Exterior features: Enclosed porch; Porch; Tennis courts; Community pool (heated, electric heat); Community spa / hot tub; Community amenities view

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Electric water heater
• Bedrooms: One bedroom (13 x 16)
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Single-hung windows; Sliding doors; Unfurnished
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $80k.

Deal economics

• At list price, monthly cash flow is $47 ($568/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 4.5% in Florida Ridge — 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 72/100 on livability (#353 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, amenities F, health & safety 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: Vero Beach Elementary School (math 39% / reading 36%, grade F, #1,596 of 2,144 statewide, top 75%, 599 students, 80% FRL); Oslo Middle School (math 39% / reading 45%, grade D-, #340 of 571 statewide, top 61%, 864 students, 72% FRL); Vero Beach High School (math 28% / reading 43%, grade F, #367 of 667 statewide, top 57%, 2,847 students, 50% FRL).
• Market conditions: Rents rising fast (+4.2%/yr); 351 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k 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 26 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 12y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; list at $80k implies a 202% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 31% of rent.
• 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 $78,603 (1.5% below list)

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.72% ✓
• Cap rate: 8.00%
• Cash-on-cash: 6.11%
• DSCR: 1.27
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.18% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.64×
• Total profit: $-7,954
• Equity at exit: $11,898

10-year hold

• IRR: 2.9%
• Equity multiple: 1.23×
• Total profit: $5,164
• Equity at exit: $6,900

Cash invested: $22,344 (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 32962

• Rents YoY: 4.2%
• Active inventory: 351
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,370 high
• Mortgage (P&I): −$418
• Tax from tax record: −$98 /mo · $1,175/yr
• Insurance: −$33
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$419
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $47

Break-even live

Break-even rent $1,310

Max offer price $79,800

Occupancy floor 92%

Sensitivity live

Price	-10% $92	-5% $70	+0% $47	+5% $25	+10% $2
Rent	-10% $-61	-5% $-7	+0% $47	+5% $101	+10% $156
Rate	-1.0pp $87	-0.5pp $68	base $47	+0.5pp $27	+1.0pp $6

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: $19,950
• Closing costs: $2,394
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
74 Royal Oak Ct #204 Vero Beach, FL	1.0	1.0	630	$1,175	$1.87	23d	1	0.10mi
50 Woodland Dr #203 Vero Beach, FL	1.0	1.5	750	$1,350	$1.80	15d	1	0.18mi
85 Crooked Tree Ln #203 Vero Beach, FL	1.0	1.5	750	$1,450	$1.93	23d	1	0.18mi
60 Woodland Dr #204 Vero Beach, FL	1.0	1.0	630	$1,250	$1.98	15d	1	0.19mi
60 Woodland Dr Vero Beach, FL	1.0	1.0	630	$1,125	$1.79	23d	1	0.19mi
52 Woodland Dr #204 Vero Beach, FL	1.0	1.0	630	$1,300	$2.06	23d	1	0.19mi
101 Spring Lake Dr #204 Vero Beach, FL	1.0	1.0	630	$1,275	$2.02	23d	1	0.21mi
102 Royal Oak Dr #105 Vero Beach, FL	1.0	1.5	750	$1,550	$2.07	23d	1	0.23mi
95 Spring Lake Dr #103 Vero Beach, FL	1.0	1.5	750	$1,600	$2.13	23d	1	0.30mi
15 Vista Gardens Trl #104 Vero Beach, FL	1.0	1.0	630	$1,300	$2.06	15d	1	0.45mi
5 Vista Palm Ln #203 Vero Beach, FL	1.0	1.5	750	$1,500	$2.00	15d	1	0.47mi
28 Pine Arbor Ln #103 Vero Beach, FL	1.0	1.5	750	$1,200	$1.60	23d	1	0.59mi
23 Vista Gardens Trl #203 Vero Beach, FL	1.0	1.5	750	$1,500	$2.00	23d	1	0.62mi
43 Vista Gardens Trl #205 Vero Beach, FL	1.0	1.5	750	$1,450	$1.93	23d	1	0.62mi
19 Pine Arbor Ln #105 Vero Beach, FL	1.0	1.5	750	$1,800	$2.40	23d	1	0.67mi
16 Vista Palm Ln Vero Beach, FL	1.0–2.0	1.5–2.0	800	$1,500	$1.88	23d	2	0.68mi
26 Vista Gardens Trl #203 Vero Beach, FL	1.0	1.5	750	$1,350	$1.80	23d	1	0.70mi
33 Vista Gardens Trl #104 Vero Beach, FL	1.0	1.0	630	$1,500	$2.38	15d	1	0.74mi
441 7th Pl #441 Vero Beach, FL	1.0	1.0	550	$1,250	$2.27	23d	1	0.93mi
462 7th Pl Vero Beach, FL	1.0	1.0	550	$1,400	$2.55	23d	1	0.96mi
522 7th Pl Unit 522 Vero Beach, FL	1.0	1.0	550	$1,500	$2.73	23d	1	0.99mi

HOA detail condo

• Monthly dues: $419 · $5,028/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 44 events

1. 2026-06-22
   days on market $79,800 Active 26 DOM
2. 2026-06-19
   days on market $79,800 Active 24 DOM
3. 2026-06-18
   days on market $79,800 Active 23 DOM
4. 2026-06-17
   days on market $79,800 Active 22 DOM
5. 2026-06-16
   days on market $79,800 Active 21 DOM
6. 2026-06-15
   days on market $79,800 Active 20 DOM
7. 2026-06-14
   days on market $79,800 Active 18 DOM
8. 2026-06-13
   days on market $79,800 Active 17 DOM
9. 2026-06-10
   days on market $79,800 Active 15 DOM
10. 2026-06-09
    days on market $79,800 Active 14 DOM
11. 2026-06-08
    days on market $79,800 Active 13 DOM
12. 2026-06-07
    days on market $79,800 Active 12 DOM
13. 2026-06-05
    days on market $79,800 Active 9 DOM
14. 2026-06-02
    days on market $79,800 Active 7 DOM
15. 2026-06-01
    days on market $79,800 Active 6 DOM
16. 2026-05-31
    days on market $79,800 Active 5 DOM
17. 2026-05-30
    days on market $79,800 Active 4 DOM
18. 2026-05-24
    price $79,800
19. 2026-04-13
    price $83,500
20. 2026-03-05
    price $84,500
21. 2026-02-05
    listed $89,300 Active
22. 2026-02-02
    historical
23. 2026-01-07
    listed $89,300 Active
24. 2026-01-07
    listed $89,300 Active
25. 2026-01-01
    historical
26. 2025-09-29
    price $89,300
27. 2025-09-29
    price $89,300
28. 2025-06-24
    price $89,800
29. 2025-06-24
    price $89,800
30. 2025-06-21
    price $84,900
31. 2025-06-21
    price $84,900
32. 2025-05-06
    listed $878,500
33. 2025-05-06
    historical
34. 2025-05-05
    listed $87,500 Active
35. 2025-05-05
    listed $87,500 Active
36. 2015-01-30
    soldstatus $26,400
37. 2014-12-16
    historical
38. 2014-02-01
    listed $34,900
39. 2014-01-28
    listed $34,900
40. 2014-01-28
    listed $34,900
41. 2005-08-19
    soldstatus $80,000
42. 2002-06-06
    soldstatus $35,000
43. 1997-04-22
    soldstatus $31,000
44. 1990-01-01
    soldstatus $34,900

ⓘ 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: $1,175 · $98/mo
• Projected year-2 tax: $1,175 · $98/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $16,442
• − Mortgage interest: −$4,470
• − Property taxes: −$1,175
• − Insurance: −$1,196
• − Repairs & maintenance: −$1,315
• − Management: −$1,315
• − HOA: −$5,028
• − Depreciation: −$2,321
• Taxable loss: −$380
• Est. tax savings @ 24.0%: +$91
• After-tax cash flow: $659/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 — Florida Ridge

• Score: 72/100
• State rank: #353
• US rank: #6129

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florida Ridge, FL
• County: Indian River County · 143,738 people
• City population: 25,629
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 25,522
• Household income: $66,664
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 425.0

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 (70%)
• Race & ethnicity: White 70% Black 13% Hispanic / Latino 12% Two or more races 5% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 4% Lithuanian 4% Italian 3%
• Foreign-born: 12% · Canada, Jamaica, Dominican Republic
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -182.13%
• Current HPI: 333.3274
• Rent YoY: ▲ 4.18%
• 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

+128.7% since first listed

27 events — show timeline

• 2026-05-24 Price Changed $79,800 RAIRCMLS
• 2026-04-13 Price Changed $83,500 RAIRCMLS
• 2026-03-05 Price Changed $84,500 RAIRCMLS
• 2026-02-05 Listed $89,300 RAIRCMLS
• 2026-02-02 Listing Removed — Beaches MLS
• 2026-01-07 Listed $89,300 RAIRCMLS
• 2026-01-07 Listed $89,300 Beaches MLS
• 2026-01-01 Listing Removed — Beaches MLS
• 2025-09-29 Price Changed $89,300 Beaches MLS
• 2025-09-29 Price Changed $89,300 RAIRCMLS
• 2025-06-24 Price Changed $89,800 Beaches MLS
• 2025-06-24 Price Changed $89,800 RAIRCMLS
• 2025-06-21 Price Changed $84,900 Beaches MLS
• 2025-06-21 Price Changed $84,900 RAIRCMLS
• 2025-05-06 Listing Removed — Beaches MLS
• 2025-05-06 Listed $878,500 Beaches MLS
• 2025-05-05 Listed $87,500 RAIRCMLS
• 2025-05-05 Listed $87,500 Beaches MLS
• 2015-01-30 Sold (MLS) $26,400 RAIRCMLS
• 2014-12-16 Listing Removed — Beaches MLS
• 2014-02-01 Listed $34,900 Beaches MLS
• 2014-01-28 Listed $34,900 RAIRCMLS
• 2014-01-28 Listed $34,900 RAIRCMLS
• 2005-08-19 Sold (Public Records) $80,000 Public Records
• 2002-06-06 Sold (Public Records) $35,000 Public Records
• 1997-04-22 Sold (Public Records) $31,000 Public Records
• 1990-01-01 Sold (Public Records) $34,900 Public Records

Property tax history

+10.6%/yr

Latest (2025): $1,175 · +6.1% YoY. Source: county tax records.