1134 37th Ave SW · Florida Ridge, FL 32968

$269,900

3 bd · 2.0 ba · 1,370 sqft · SingleFamily public records · 54 Days on market

Built 1978 9,148 sqft lot Est $326k · 17% 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 +20.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +4.9/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming and well-maintained 3-bedroom, 2-bath residence with a 1-car garage offers comfort, convenience, and peace of mind. Thoughtfully updated with a new roof, whole-house re-pipe, A/C (23), WH (2022), and LVP flooring throughout, this home is truly move-in ready. Accordion shutters provide added storm protection. Located in an unrestricted area with no HOA, you'll have the freedom to park your RV, boat, or other toys. Ideal as a primary residence, seasonal retreat, or investment opportunity, this property offers flexibility and long-term value in beautiful Vero Beach!

Key facts

• Whole-house re-pipe
• A/c
• Accordion shutters

Tags

• NEW ROOF
• WHOLE-HOUSE RE-PIPE
• A/C
• LVP FLOORING
• ACCORDION SHUTTERS
• UNRESTRICTED AREA

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: No HOA (N/A)

Exterior

• Parking: Attached garage; Driveway; 1-car garage
• Security: Smoke detector(s)
• Utilities: Public water; Septic tank
• Home design: Single-story home; Faces west; Shingle roof
• Construction: Shingle roof
• Exterior features: Patio; Has a view; Lot is less than a quarter acre

Interior

• Kitchen: Range; Refrigerator; Electric water heater
• Bedrooms: Bedroom (15x14); Bedroom (12x12); Bedroom (14x14)
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Sliding doors; Split bedrooms; Unfurnished
• Laundry & utility: In-unit laundry room with washer and dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $368 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $266k (1.4% below list).
• Recommended offer: $262k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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: schools D, employment D, 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: 184 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $2k of loan paydown is wiped out by about $8k 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 54 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $25k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $270k implies a 440% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $261,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.99% ✗
• Cap rate: 7.93%
• Cash-on-cash: 5.85%
• DSCR: 1.26
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $326,060
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1116 SW 33rd Ave Ave SW	0.25mi	3/2.0	1,380 (+1%)	0mo	$390,000	$283	87
1175 34th Ave SW	0.16mi	2/2.0 (-1)	1,400 (+2%)	1mo	$245,000	$175	82
1204 38th Ave SW	0.10mi	3/2.0	1,418 (+4%)	10mo	$324,000	$228	81
945 33rd Ave SW	0.32mi	3/2.0	1,344 (-2%)	1mo	$319,900	$238	81
1123 38th Ave SW	0.10mi	3/2.0	1,478 (+8%)	12mo	$275,000	$186	72
3510 11th St SW	0.12mi	3/2.0	1,220 (-11%)	9mo	$290,000	$238	69
1246 35th Ave SW	0.19mi	2/2.0 (-1)	1,292 (-6%)	10mo	$280,000	$217	68
1245 34th Ave SW	0.21mi	3/2.0	1,245 (-9%)	11mo	$315,000	$253	66
1304 32nd Ave SW	0.38mi	3/2.0	1,236 (-10%)	0mo	$299,000	$242	65
2622 12th Sq SW	0.70mi	3/2.0	1,487 (+8%)	2mo	$310,000	$208	52
3811 Kitty Hawk Ln SW	0.68mi	2/2.0 (-1)	1,446 (+6%)	10mo	$300,000	$207	45
960 32nd Ave SW	0.41mi	2/2.0 (-1)	1,182 (-14%)	14mo	$320,000	$271	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-20,308
• Equity at exit: $40,243

10-year hold

• IRR: 2.3%
• Equity multiple: 1.16×
• Total profit: $12,370
• Equity at exit: $23,336

Cash invested: $75,572 (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 32968

• Home prices YoY: -27.5%
• Active inventory: 184
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,662 high
• Mortgage (P&I): −$1,415
• Tax from tax record: −$206 /mo · $2,476/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$559
• Net cashflow: $368

Break-even live

Break-even rent $2,195

Max offer price $269,900

Occupancy floor 81%

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1123 37th Ave SW Unit 1541760P Vero Beach, FL	3.0	2.0	1248	$3,075	$2.46	13d	1	0.05mi
2619 Langrove Ln SW Unit 2619 Vero Beach, FL	3.0	2.0	1464	$2,450	$1.67	21d	1	0.76mi
2565 Langrove Ln SW Vero Beach, FL	3.0	2.0	1464	$2,000	$1.37	21d	1	0.78mi
2543 Stockbridge Sq SW Vero Beach, FL	3.0	2.0	1464	$2,200	$1.50	13d	1	0.82mi
2584 Stockbridge Sq SW Vero Beach, FL	3.0	2.5	1698	$2,250	$1.33	13d	1	0.90mi
826 Middleton Dr SW Vero Beach, FL	3.0	2.0	1464	$2,150	$1.47	21d	1	0.91mi
2020 Vero South Cir SW #2 Vero Beach, FL	2.0	3.0	1600	$1,900	$1.19	21d	1	1.06mi
3673 2nd Pl SW Vero Beach, FL	3.0	2.0	1410	$4,800	$3.40	13d	1	1.08mi
3673 2nd Pl SW Vero Beach, FL	3.0	2.0	1410	$4,800	$3.40	21d	1	1.08mi
1110 19th Ave SW Vero Beach, FL	3.0	2.0	1534	$2,000	$1.30	21d	1	1.15mi
2199 Harwick Cir SW Vero Beach, FL	3.0	2.0	1676	$2,400	$1.43	21d	1	1.31mi

Listing history 28 events

1. 2026-06-17
   statusdays on marketlisting id $269,900 Pending 54 DOM
2. 2026-06-17
   days on market $269,900 Active Under Contract 112 DOM
3. 2026-06-16
   days on market $269,900 Active Under Contract 111 DOM
4. 2026-06-15
   days on market $269,900 Active Under Contract 110 DOM
5. 2026-06-14
   days on market $269,900 Active Under Contract 108 DOM
6. 2026-06-13
   days on market $269,900 Active Under Contract 107 DOM
7. 2026-06-10
   days on market $269,900 Active Under Contract 105 DOM
8. 2026-06-09
   days on market $269,900 Active Under Contract 104 DOM
9. 2026-06-08
   days on market $269,900 Active Under Contract 103 DOM
10. 2026-06-07
    days on market $269,900 Active Under Contract 102 DOM
11. 2026-06-05
    days on market $269,900 Active Under Contract 99 DOM
12. 2026-06-02
    days on market $269,900 Active Under Contract 97 DOM
13. 2026-06-01
    days on market $269,900 Active Under Contract 96 DOM
14. 2026-05-31
    days on market $269,900 Active Under Contract 95 DOM
15. 2026-05-30
    days on market $269,900 Active Under Contract 94 DOM
16. 2026-05-08
    historical Active Under Contract

    Show marketing remark (583 chars)

    This charming and well-maintained 3-bedroom, 2-bath residence with a 1-car garage offers comfort, convenience, and peace of mind. Thoughtfully updated with a new roof, whole-house re-pipe, A/C (23), WH (2022), and LVP flooring throughout, this home is truly move-in ready. Accordion shutters provide added storm protection. Located in an unrestricted area with no HOA, you'll have the freedom to park your RV, boat, or other toys. Ideal as a primary residence, seasonal retreat, or investment opportunity, this property offers flexibility and long-term value in beautiful Vero Beach!

17. 2026-05-08
    status Pending 583-char remark

    Show marketing remark (583 chars)

    This charming and well-maintained 3-bedroom, 2-bath residence with a 1-car garage offers comfort, convenience, and peace of mind. Thoughtfully updated with a new roof, whole-house re-pipe, A/C (23), WH (2022), and LVP flooring throughout, this home is truly move-in ready. Accordion shutters provide added storm protection. Located in an unrestricted area with no HOA, you'll have the freedom to park your RV, boat, or other toys. Ideal as a primary residence, seasonal retreat, or investment opportunity, this property offers flexibility and long-term value in beautiful Vero Beach!

18. 2026-05-05
    status Active

    Show marketing remark (583 chars)

    This charming and well-maintained 3-bedroom, 2-bath residence with a 1-car garage offers comfort, convenience, and peace of mind. Thoughtfully updated with a new roof, whole-house re-pipe, A/C (23), WH (2022), and LVP flooring throughout, this home is truly move-in ready. Accordion shutters provide added storm protection. Located in an unrestricted area with no HOA, you'll have the freedom to park your RV, boat, or other toys. Ideal as a primary residence, seasonal retreat, or investment opportunity, this property offers flexibility and long-term value in beautiful Vero Beach!

19. 2026-05-05
    status Active 583-char remark

    Show marketing remark (583 chars)

    This charming and well-maintained 3-bedroom, 2-bath residence with a 1-car garage offers comfort, convenience, and peace of mind. Thoughtfully updated with a new roof, whole-house re-pipe, A/C (23), WH (2022), and LVP flooring throughout, this home is truly move-in ready. Accordion shutters provide added storm protection. Located in an unrestricted area with no HOA, you'll have the freedom to park your RV, boat, or other toys. Ideal as a primary residence, seasonal retreat, or investment opportunity, this property offers flexibility and long-term value in beautiful Vero Beach!

20. 2026-04-17
    status Pending 583-char remark

    Show marketing remark (583 chars)

    This charming and well-maintained 3-bedroom, 2-bath residence with a 1-car garage offers comfort, convenience, and peace of mind. Thoughtfully updated with a new roof, whole-house re-pipe, A/C (23), WH (2022), and LVP flooring throughout, this home is truly move-in ready. Accordion shutters provide added storm protection. Located in an unrestricted area with no HOA, you'll have the freedom to park your RV, boat, or other toys. Ideal as a primary residence, seasonal retreat, or investment opportunity, this property offers flexibility and long-term value in beautiful Vero Beach!

21. 2026-04-17
    historical Active Under Contract

    Show marketing remark (583 chars)

    This charming and well-maintained 3-bedroom, 2-bath residence with a 1-car garage offers comfort, convenience, and peace of mind. Thoughtfully updated with a new roof, whole-house re-pipe, A/C (23), WH (2022), and LVP flooring throughout, this home is truly move-in ready. Accordion shutters provide added storm protection. Located in an unrestricted area with no HOA, you'll have the freedom to park your RV, boat, or other toys. Ideal as a primary residence, seasonal retreat, or investment opportunity, this property offers flexibility and long-term value in beautiful Vero Beach!

22. 2026-04-14
    price $269,900 583-char remark

    Show marketing remark (583 chars)

    This charming and well-maintained 3-bedroom, 2-bath residence with a 1-car garage offers comfort, convenience, and peace of mind. Thoughtfully updated with a new roof, whole-house re-pipe, A/C (23), WH (2022), and LVP flooring throughout, this home is truly move-in ready. Accordion shutters provide added storm protection. Located in an unrestricted area with no HOA, you'll have the freedom to park your RV, boat, or other toys. Ideal as a primary residence, seasonal retreat, or investment opportunity, this property offers flexibility and long-term value in beautiful Vero Beach!

23. 2026-04-14
    price $269,900

    Show marketing remark (583 chars)

    This charming and well-maintained 3-bedroom, 2-bath residence with a 1-car garage offers comfort, convenience, and peace of mind. Thoughtfully updated with a new roof, whole-house re-pipe, A/C (23), WH (2022), and LVP flooring throughout, this home is truly move-in ready. Accordion shutters provide added storm protection. Located in an unrestricted area with no HOA, you'll have the freedom to park your RV, boat, or other toys. Ideal as a primary residence, seasonal retreat, or investment opportunity, this property offers flexibility and long-term value in beautiful Vero Beach!

24. 2026-03-20
    price $285,000 583-char remark

    Show marketing remark (583 chars)

    This charming and well-maintained 3-bedroom, 2-bath residence with a 1-car garage offers comfort, convenience, and peace of mind. Thoughtfully updated with a new roof, whole-house re-pipe, A/C (23), WH (2022), and LVP flooring throughout, this home is truly move-in ready. Accordion shutters provide added storm protection. Located in an unrestricted area with no HOA, you'll have the freedom to park your RV, boat, or other toys. Ideal as a primary residence, seasonal retreat, or investment opportunity, this property offers flexibility and long-term value in beautiful Vero Beach!

25. 2026-03-20
    price $285,000

    Show marketing remark (583 chars)

    This charming and well-maintained 3-bedroom, 2-bath residence with a 1-car garage offers comfort, convenience, and peace of mind. Thoughtfully updated with a new roof, whole-house re-pipe, A/C (23), WH (2022), and LVP flooring throughout, this home is truly move-in ready. Accordion shutters provide added storm protection. Located in an unrestricted area with no HOA, you'll have the freedom to park your RV, boat, or other toys. Ideal as a primary residence, seasonal retreat, or investment opportunity, this property offers flexibility and long-term value in beautiful Vero Beach!

26. 2026-02-25
    listed $295,000 Active

    Show marketing remark (583 chars)

    This charming and well-maintained 3-bedroom, 2-bath residence with a 1-car garage offers comfort, convenience, and peace of mind. Thoughtfully updated with a new roof, whole-house re-pipe, A/C (23), WH (2022), and LVP flooring throughout, this home is truly move-in ready. Accordion shutters provide added storm protection. Located in an unrestricted area with no HOA, you'll have the freedom to park your RV, boat, or other toys. Ideal as a primary residence, seasonal retreat, or investment opportunity, this property offers flexibility and long-term value in beautiful Vero Beach!

27. 2026-02-25
    listed $295,000 Active 583-char remark

    Show marketing remark (583 chars)

    This charming and well-maintained 3-bedroom, 2-bath residence with a 1-car garage offers comfort, convenience, and peace of mind. Thoughtfully updated with a new roof, whole-house re-pipe, A/C (23), WH (2022), and LVP flooring throughout, this home is truly move-in ready. Accordion shutters provide added storm protection. Located in an unrestricted area with no HOA, you'll have the freedom to park your RV, boat, or other toys. Ideal as a primary residence, seasonal retreat, or investment opportunity, this property offers flexibility and long-term value in beautiful Vero Beach!

28. 1986-05-01
    soldstatus $50,000

ⓘ 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: $2,476 · $206/mo
• Projected year-2 tax: $2,476 · $206/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 23 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: $31,938
• − Mortgage interest: −$15,119
• − Property taxes: −$2,476
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,555
• − Management: −$2,555
• − Depreciation: −$7,852
• Taxable income: $33
• Est. tax owed @ 24.0%: −$8
• After-tax cash flow: $4,414/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
• City population: 25,629
• Population (ZIP): 15,576

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 12% Two or more races 11% Black 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Spanish 7% Other Indo-European 1% Chinese 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: ▼ -118.63%
• Current HPI: 312.136
• Rent YoY: —
• Metro: —
• 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

+439.8% since first listed

13 events — show timeline

• 2026-05-08 Contingent — RAIRCMLS
• 2026-05-08 Pending — SCMLS
• 2026-05-05 Relisted — RAIRCMLS
• 2026-05-05 Relisted — SCMLS
• 2026-04-17 Pending — SCMLS
• 2026-04-17 Contingent — RAIRCMLS
• 2026-04-14 Price Changed $269,900 SCMLS
• 2026-04-14 Price Changed $269,900 RAIRCMLS
• 2026-03-20 Price Changed $285,000 SCMLS
• 2026-03-20 Price Changed $285,000 RAIRCMLS
• 2026-02-25 Listed $295,000 SCMLS
• 2026-02-25 Listed $295,000 RAIRCMLS
• 1986-05-01 Sold (Public Records) $50,000 Public Records

Property tax history

+17.2%/yr

Latest (2025): $2,476 · +13.1% YoY. Source: county tax records.