6555 Spanish Lakes Blvd · Vero Beach South, FL 34951

$56,900

2 bd · 2.0 ba · 1,685 sqft · Manufactured · 81 Days on market

Built 1992 Est $62k · 9% under $845/mo HOA · 40% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +11.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This inviting residence features an array of upgrades. Spacious enclosed Florida room designed for entertaining or a great evening dinner. Inside, you’ll find a warm and welcoming dining, an open chef inspired kitchen, relaxation room in addition to a full living-room ideal for hosting guests or catching up on the best shows. Nestled on an oversized lot, this amazing home boasts a large backyard, providing ample outdoor space for enjoying the Florida sunshine. Recent upgrades & features include wood vinyl plank flooring, remodeled bathrooms with custom vanity. Located in an amenity rich community with a prestige 18-hole golf course, clubhouse, pools, and more with an active and

Key facts

• 18-hole golf course
• Large backyard
• Florida room

Tags

• FLORIDA ROOM
• OPEN CHEF INSPIRED KITCHEN
• LARGE BACKYARD
• REMODELED BATHROOMS
• AMENITY RICH COMMUNITY
• 18-HOLE GOLF COURSE

Property features AI

Finance

• Other: Located in a senior community
• HOA & community: Homeowners association with monthly fee; HOA amenities include dog park, golf course, pool, and street lights; Monthly association fee

Exterior

• Parking: Carport with 3 covered spaces; Driveway; Golf cart parking
• Utilities: Public water; Public sewer
• Home design: Mobile home; One story; Faces east
• Construction: Shingle/Composition roof; Resale condition; Built as single-story structure
• Exterior features: No waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fan(s)
• Interior features: Kitchen island; French doors
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $57k.

Deal economics

• At list price, monthly cash flow is $449 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $57k).
• Recommended offer: $53k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.8% vs local median 4.3% in Vero Beach South — 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 78/100 on livability (#163 in FL, #2,445 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A; Watch: amenities F.
• St. Lucie (urban): math 40% / reading 48% proficiency, ranked #51 of 73 in FL (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Weatherbee Elementary School (math 32% / reading 32%, grade F, #1,797 of 2,144 statewide, top 86%, 672 students, 90% FRL); Dan Mccarty Middle School (math 23% / reading 23%, grade F, #542 of 571 statewide, top 95%, 747 students, 88% FRL); Fort Pierce Westwood Academy The W.E.S.T. Prep Magnet (math 16% / reading 36%, grade F, #494 of 667 statewide, top 75%, 2,010 students, 75% FRL) — zoned schools average 85% FRL vs 59% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 44% district-wide (-17 pts) — the specific schools serving this property underperform the St. Lucie average; the district grade overstates school quality for this exact location.
• Market conditions: 294 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• This rent runs 41% of the median local income ($63k/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 $393 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• St. Lucie County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 40% of rent.
• Climate carrying-cost: 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 $53,486 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 3.75% ✓
• Cap rate: 15.76%
• Cash-on-cash: 33.80%
• DSCR: 2.50
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $62,345
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6787 Yedra Ave	0.32mi	2/2.0	1,664 (-1%)	13mo	$80,595	$48	72
14400 Isla Flores	0.18mi	3/3.0 (+1)	1,482 (-12%)	3mo	$55,000	$37	60
14185 Zorzal Ave	0.36mi	2/2.0	1,485 (-12%)	19mo	$45,000	$30	47

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: 29.7%
• Equity multiple: 2.25×
• Total profit: $19,916
• Equity at exit: $8,484

10-year hold

• IRR: 37.3%
• Equity multiple: 4.54×
• Total profit: $56,390
• Equity at exit: $4,920

Cash invested: $15,932 (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 34951

• Home prices YoY: -23.6%
• Active inventory: 294
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $2,135 medium
• Mortgage (P&I): −$298
• Tax est. 1.5%: −$71 /mo · $854/yr
• Insurance: −$24
• HOA: −$845
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $449

Break-even live

Break-even rent $1,567

Max offer price $56,900

Occupancy floor 74%

Sensitivity live

Price	-10% $488	-5% $468	+0% $449	+5% $429	+10% $409
Rent	-10% $280	-5% $364	+0% $449	+5% $533	+10% $618
Rate	-1.0pp $477	-0.5pp $463	base $449	+0.5pp $434	+1.0pp $419

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: $14,225
• Closing costs: $1,707
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6765 Spanish Lakes Blvd Fort Pierce, FL	2.0	2.0	1368	$2,500	$1.83	24d	1	0.26mi

HOA detail

• Monthly dues: $845 · $10,140/yr
• Likely covers: pool

Listing history 3 events

1. 2026-05-31
   days on market $56,900 Active 81 DOM
2. 2026-05-30
   days on market $56,900 Active 80 DOM
3. 2025-06-24
   listed $56,900 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $25,626
• − Mortgage interest: −$3,187
• − Property taxes: −$854
• − Insurance: −$284
• − Repairs & maintenance: −$2,050
• − Management: −$2,050
• − HOA: −$10,140
• − Depreciation: −$1,655
• Taxable income: $5,405
• Est. tax owed @ 24.0%: −$1,297
• After-tax cash flow: $4,088/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: St. Lucie
• NCES district ID: 1201770
• Math proficiency: 40% ▼ -11.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $44,737
• Composite: 37.28/100
• National rank: #4449
• State rank: #51 of 73 in FL

Livability — Vero Beach South

• Score: 78/100
• State rank: #163
• US rank: #2445

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Saint Lucie County · 337,150 people
• Metro: Port St. Lucie, FL
• Population (ZIP): 17,148
• Household income: $63,122
• Rent vs Own: 11.7% rent · 88.3% own
• Severe rent burden: 140.0

Population outlook (St. Lucie County) Hauer SSP2

• Today (2025): 338,016 people
• By 2030: 355,687 · +5.2%
• By 2040: 385,521 · +14.1%
• By 2050: 406,106 · +20.1%
• By 2075: 441,054 · +30.5%
• By 2100: 436,885 · +29.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 13% Hispanic / Latino 8% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 2%
• Foreign-born: 10% · Canada, Jamaica, Vietnam
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 3% Vietnamese 1%

Political lean MEDSL · St. Lucie

• 2024 margin: Lean R (+9.1) · D 45.1% · R 54.2%
• 2008→2024 swing: -21.2pp toward R · 2008: 12.1pp · 2024: -9.1pp
• All cycles: 2024: R+9.1 2020: R+1.6 2016: R+2.5 2012: D+7.9 2008: D+12.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.06%
• Current HPI: 343.1376
• Rent YoY: —
• Metro: Port St. Lucie, 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

• 2025-06-24 Listed $56,900 Beaches MLS