35 Vis Gdns Trl · Vero Beach South, FL 32962

$115,000

2 bd · 2.0 ba · 1,000 sqft · SingleFamily · 3 Days on market

Built 1983 Average condition Est $170k · 32% under $662/mo HOA · 39% 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).

• ARV discount +15.0/15.0
• 1% rule +9.9/10.0
• Cash flow +8.3/30.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• Condition / age +2.8/5.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Come see this 1st floor, fully furnished 2 bedroom, 2 bath, turnkey condo. This unit has been gently lived in by the same family from the day the condo was built. Light, bright and airy to enjoy our wonderful Florida lifestyle. Vista Gardens is a well run, beautifully maintained 55+ community with loads of amenities to enjoy. Located just minutes from the beach, shopping, dining, entertainment and healthcare. There is a lot to love here. Room sizes are approximate. Buyer must verify.

Key facts

• Minutes from beach
• Turnkey condo
• Loads of amenities

Tags

• FULLY FURNISHED
• TURNKEY CONDO
• BEAUTIFULLY MAINTAINED
• MINUTES FROM BEACH
• LOADS OF AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $115k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-172 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $90k (21.7% below list).
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $90k (21.7% below list) — sets the bar for cash-flow.
• Cap rate 5.2% vs local median 4.3% in Vero Beach South — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• 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); 348 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).
• This rent runs 31% 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 $795 of loan paydown is wiped out by about $3k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y ago 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 39% 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 $90,058 (21.7% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.49% ✓
• Cap rate: 5.19%
• Cash-on-cash: -3.95%
• DSCR: 0.82
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $170,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34 Vista Gardens Trl #106	0.03mi	2/2.0	1,000 (0%)	15mo	$145,000	$145	86
33 Vista Gardens Trl #107	0.07mi	2/2.0	1,000 (0%)	15mo	$170,000	$170	84
29 Vista Gardens Trl #106	0.20mi	2/2.0	1,000 (0%)	16mo	$169,900	$170	77
21 Vista Gardens Trl #107	0.25mi	2/2.0	1,000 (0%)	16mo	$150,000	$150	75
30 Vista Gardens Trl #102	0.18mi	2/2.0	962 (-4%)	16mo	$122,500	$127	72
14 Vista Gardens Trl #202	0.38mi	2/2.0	1,000 (0%)	16mo	$173,000	$173	69
5 Vista Gardens Trl #201	0.39mi	2/2.0	1,000 (0%)	16mo	$142,000	$142	68
1165 6th Ave	0.72mi	2/2.0	1,018 (+2%)	10mo	$132,000	$130	55
554 9th Pl #554	0.47mi	2/2.0	1,126 (+13%)	14mo	$225,000	$200	45
1115 3rd Ave Unit 202-C	0.57mi	2/2.0	906 (-9%)	16mo	$155,000	$171	45
1166 6th Ave Unit 19D	0.60mi	2/2.5	1,140 (+14%)	15mo	$230,000	$202	34
1166 6th Ave Unit 14B	0.60mi	2/2.5	1,140 (+14%)	17mo	$225,000	$197	32

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 · 4.18% rent growth · sell at horizon

5-year hold

• IRR: -24.0%
• Equity multiple: 0.16×
• Total profit: $-27,086
• Equity at exit: $17,147

10-year hold

• IRR: -12.8%
• Equity multiple: 0.16×
• Total profit: $-27,165
• Equity at exit: $9,943

Cash invested: $32,200 (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: 348
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,710 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$662
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $-172

Break-even live

Break-even rent $1,928

Max offer price $90,058

Occupancy floor —

Sensitivity live

Price	-10% $-93	-5% $-133	+0% $-172	+5% $-212	+10% $-252
Rent	-10% $-307	-5% $-240	+0% $-172	+5% $-105	+10% $-37
Rate	-1.0pp $-114	-0.5pp $-143	base $-172	+0.5pp $-202	+1.0pp $-232

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34 Vista Gardens Trl #107 Vero Beach, FL	2.0	2.0	1000	$1,350	$1.35	21d	1	0.03mi
35 Vista Gardens Trl #205 Vero Beach, FL	1.0	1.5	934	$1,400	$1.50	21d	1	0.03mi
36 Vista Gardens Trl #201 Vero Beach, FL	2.0	2.0	1000	$1,390	$1.39	21d	1	0.07mi
11 Vista Gardens Trl #106 Vero Beach, FL	2.0	2.0	1000	$1,600	$1.60	21d	1	0.10mi
4 Vista Gardens Trl #207 Vero Beach, FL	2.0	2.0	1000	$1,550	$1.55	14d	1	0.10mi
28 Vista Gardens Trl #102 Vero Beach, FL	2.0	2.0	1000	$1,550	$1.55	21d	1	0.18mi
23 Vista Gardens Trl #203 Vero Beach, FL	1.0	1.5	750	$1,500	$2.00	21d	1	0.19mi
43 Vista Gardens Trl #205 Vero Beach, FL	1.0	1.5	750	$1,450	$1.93	21d	1	0.22mi
26 Vista Gardens Trl #203 Vero Beach, FL	1.0	1.5	750	$1,350	$1.80	21d	1	0.23mi
528 7th Sq #102 Vero Beach, FL	2.0	2.0	1095	$3,000	$2.74	21d	1	0.23mi
340 E Waverly Pl Unit 6D Vero Beach, FL	1.0	1.5	1200	$1,000	$0.83	21d	1	0.41mi
400 E Waverly Pl Unit 2b Vero Beach, FL	2.0	2.5	1170	$1,900	$1.62	21d	1	0.43mi
855 6th Ave Vero Beach, FL	2.0	2.0	1194	$1,950	$1.63	14d	1	0.47mi
1041 Normandie Way Vero Beach, FL	2.0	2.0	1178	$2,100	$1.78	14d	1	0.49mi
263 Provence Pl Vero Beach, FL	2.0	2.5	1364	$3,500	$2.57	21d	1	0.56mi
102 Royal Oak Dr #105 Vero Beach, FL	1.0	1.5	750	$1,550	$2.07	21d	1	0.57mi
1166 6th Ave Unit D Vero Beach, FL	2.0	2.0	1140	$2,000	$1.75	21d	1	0.60mi
1135 3rd Ave #101 Vero Beach, FL	2.0	2.0	906	$1,800	$1.99	21d	1	0.60mi
1166 6th Ave Vero Beach, FL	2.0	2.0	1140	$2,200	$1.93	14d	1	0.60mi
103 Royal Oak Dr #106 Vero Beach, FL	2.0	2.0	1000	$1,800	$1.80	14d	1	0.63mi
1170 6th Ave Unit 2D Vero Beach, FL	2.0	2.5	1170	$1,800	$1.54	14d	1	0.65mi
95 Spring Lake Dr #103 Vero Beach, FL	1.0	1.5	750	$1,600	$2.13	21d	1	0.65mi
80 Crooked Tree Ln #106 Vero Beach, FL	2.0	2.0	1000	$1,900	$1.90	14d	1	0.73mi
85 Crooked Tree Ln #203 Vero Beach, FL	1.0	1.5	750	$1,450	$1.93	21d	1	0.76mi
86 Crooked Tree Ln #102 Vero Beach, FL	2.0	2.0	1000	$2,000	$2.00	14d	1	0.78mi
1200 6th Dr Vero Beach, FL	2.0	2.0	800	$1,550	$1.94	14d	1	0.83mi
65 Woodland Dr #207 Vero Beach, FL	2.0	2.0	1000	$1,600	$1.60	21d	1	0.86mi
58 Woodland Dr #206 Vero Beach, FL	2.0	2.0	1000	$1,800	$1.80	14d	1	0.93mi
516 13th Pl Vero Beach, FL	3.0	2.0	1102	$1,800	$1.63	21d	1	0.93mi
50 Woodland Dr #203 Vero Beach, FL	1.0	1.5	750	$1,350	$1.80	14d	1	0.94mi
1450 5th Ave Vero Beach, FL	3.0	2.0	1124	$2,400	$2.14	21d	1	0.99mi
1136 9th Sq Unit 1467671P Vero Beach, FL	3.0	2.0	1399	$4,165	$2.98	21d	1	1.02mi
1510 3rd Ct Vero Beach, FL	3.0	2.0	950	$6,000	$6.32	14d	1	1.04mi
161 6th Ct SW Vero Beach, FL	2.0	1.0	1298	$1,590	$1.22	14d	1	1.05mi
37 Pine Arbor Ln #101 Vero Beach, FL	2.0	2.0	1000	$1,600	$1.60	14d	1	1.20mi
5 Vista Palm Ln #203 Vero Beach, FL	1.0	1.5	750	$1,500	$2.00	14d	1	1.20mi
36 Pine Arbor Ln Vero Beach, FL	2.0	2.0	1000	$1,550	$1.55	21d	2	1.20mi
974 14th Ln Vero Beach, FL	1.0–3.0	1.0–3.0	1828	$4,049	$2.21	14d	32	1.27mi
355 6th Rd SW Vero Beach, FL	3.0	1.0	880	$1,800	$2.05	21d	1	1.27mi
28 Pine Arbor Ln #103 Vero Beach, FL	1.0	1.5	750	$1,200	$1.60	21d	1	1.37mi

HOA detail

• Monthly dues: $662 · $7,944/yr

Listing history 7 events

1. 2026-04-25
   status Pending
2. 2026-04-25
   historical Active Under Contract
3. 2026-04-22
   listed $115,000 Active
4. 2024-04-01
   historical $1,350
5. 2024-04-01
   listed $1,350
6. 2024-03-19
   historical $1,350
7. 2024-01-13
   listed $1,350

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 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: $20,519
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$1,372
• − Repairs & maintenance: −$1,642
• − Management: −$1,642
• − HOA: −$7,944
• − Depreciation: −$3,345
• Taxable loss: −$3,593
• Est. tax savings @ 24.0%: +$862
• After-tax cash flow: $-1,206/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

Average 55/100 Cosmetic rehab

This 1st floor, fully furnished 2 bedroom, 2 bath, turnkey condo is in average condition with some cosmetic repairs needed. The home has good curb appeal and is located in a well-maintained 55+ community with amenities. The interior could benefit from updates to the flooring, cabinetry, and paint to improve its resale and rental value.

Repairs flagged

• Moderate exterior siding — Aged appearance
• Major interior carpet — Worn and needs replacement
• Moderate bathroom tile — Date and needs replacement
• Moderate kitchen cabinetry — Date and needs replacement
• Moderate interior paint — Faded and needs touch-up

Value-add opportunities

• Both new flooring in living areas — Fresh carpet would improve both resale and rental value
• Both new kitchen cabinetry — Modern cabinetry would improve both resale and rental value
• Both new bathroom tile — Fresh tile would improve both resale and rental value
• Both new paint — Fresh paint would improve both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Aged appearance	Moderate	$3,000–15,000
interior carpet · Worn and needs replacement	Major	$15,000–50,000
bathroom tile · Date and needs replacement	Moderate	$3,000–15,000
kitchen cabinetry · Date and needs replacement	Moderate	$3,000–15,000
interior paint · Faded and needs touch-up	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$27,000–110,000

Value-add ROI direction

• Both new flooring in living areas — Fresh carpet would improve both resale and rental value ↑
• Both new kitchen cabinetry — Modern cabinetry would improve both resale and rental value ↑
• Both new bathroom tile — Fresh tile would improve both resale and rental value ↑
• Both new paint — Fresh paint would improve both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — 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

• Census place: Vero Beach South, FL
• County: Indian River County · 143,738 people
• 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

+8418.5% since first listed

7 events — show timeline

• 2026-04-25 Pending — Beaches MLS
• 2026-04-25 Contingent — Beaches MLS
• 2026-04-22 Listed $115,000 Beaches MLS
• 2024-04-01 Rental Removed $1,350 RMLSFL
• 2024-04-01 Listed for Rent $1,350 RMLSFL
• 2024-03-19 Rental Removed $1,350 RMLSFL
• 2024-01-13 Listed for Rent $1,350 RMLSFL