1618 Gaiety Way · Fort Pierce, FL 34947

$294,900

3 bd · 2.0 ba · 1,394 sqft · Land · 95 Days on market

Built 2025 $151/mo HOA · 6% of rent

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Why this score? — see what drove the F 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 +8.3/30.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Ask us about builder-paid closing costs, limited time incentives, and more! Discover the beautiful Mateo plan in the stunning Celebration Pointe community. This one-story home features 3 spacious bedrooms, 2 full baths, and a modern open-concept layout. Enjoy top-tier upgrades like stainless steel Whirlpool® appliances, granite countertops with a large island, 42” white cabinets with crown molding, and an attached garage. The master suite includes a walk-in closet, and the home also boasts a laundry room, covered front entry, back patio, and fully landscaped front yard. Celebration Pointe offers fantastic amenities including a pool, walking trails, and a future clubhouse - all in

Key facts

• White cabinets
• Large island
• Granite countertops

Tags

• OPEN-CONCEPT LAYOUT
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• LARGE ISLAND
• WHITE CABINETS
• CROWN MOLDING

Property features AI

Finance

• Other: Pets allowed with no restrictions
• HOA & community: Monthly HOA fee ($151) covering grounds maintenance and common areas; Community amenities include a picnic area and playground

Exterior

• Parking: Attached 1-car garage with garage door opener and covered parking
• Security: Fire alarm; Smoke detector(s)
• Utilities: Cable available
• Home design: Townhouse; One story; New construction (Mateo model)
• Construction: Block construction; Composition roof
• Exterior features: No waterfront

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Disposal; Refrigerator
• Bedrooms: Three main-level bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Kitchen island; Blinds and insulated windows
• Laundry & utility: Washer hookup; Dryer hookup; Electric water heater

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $295k.

Deal economics

• At list price, monthly cash flow is $-269 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $256k (13.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $243k (17.6% below list).
• Recommended offer: $243k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 3.5% in Fort Pierce — 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 76/100 on livability (#226 in FL, #3,360 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, amenities F, employment 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: Manatee Academy K-8 (math 53% / reading 51%, grade C-, #990 of 2,144 statewide, top 48%, 1,664 students, 65% FRL); Southern Oaks Middle School (math 39% / reading 43%, grade F, #353 of 571 statewide, top 63%, 894 students, 76% FRL); Fort Pierce Central High School (math 15% / reading 45%, grade F, #441 of 667 statewide, top 67%, 3,091 students, 62% FRL).
• Market conditions: 150 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• At $2,431/mo this rent would consume 56% of the median local household income ($52k/yr) (locally 625% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $31k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $243,060 (17.6% 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 95 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 0.82% ✗
• Cap rate: 5.20%
• Cash-on-cash: -3.91%
• DSCR: 0.83
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -22.8%
• Equity multiple: 0.22×
• Total profit: $-64,778
• Equity at exit: $43,971

10-year hold

• IRR: -17.1%
• Equity multiple: 0.06×
• Total profit: $-77,927
• Equity at exit: $25,498

Cash invested: $82,572 (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 34947

• Home prices YoY: -8.6%
• Active inventory: 150
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,431 high
• Mortgage (P&I): −$1,546
• Tax est. 1.5%: −$369 /mo · $4,424/yr
• Insurance: −$123
• HOA: −$151
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $-269

Break-even live

Break-even rent $2,771

Max offer price $256,002

Occupancy floor —

Sensitivity live

Price	-10% $-65	-5% $-167	+0% $-269	+5% $-371	+10% $-473
Rent	-10% $-461	-5% $-365	+0% $-269	+5% $-173	+10% $-77
Rate	-1.0pp $-120	-0.5pp $-194	base $-269	+0.5pp $-345	+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: $73,725
• Closing costs: $8,847
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1618 Merriment Way Fort Pierce, FL	3.0	2.0	1538	$2,200	$1.43	25d	1	0.16mi
1810 Celebration Dr Fort Pierce, FL	4.0	2.0	1767	$2,700	$1.53	25d	1	0.18mi
5318 Imagination Dr Fort Pierce, FL	3.0	2.0	1542	$2,500	$1.62	25d	1	0.19mi
1817 Party Pl Fort Pierce, FL	3.0	2.0	1389	$2,250	$1.62	25d	1	0.22mi
5335 Entertainment Way Fort Pierce, FL	3.0	2.0	1224	$2,500	$2.04	25d	1	0.38mi
100 Corner Dr Fort Pierce, FL	1.0–3.0	1.0–2.0	926	$1,487	$1.60	15d	32	0.47mi
5517 Amusement Ave Fort Pierce, FL	3.0	2.0	1716	$2,600	$1.52	25d	1	0.51mi
4213 Longmour Ln Fort Pierce, FL	3.0	2.0	1640	$2,400	$1.46	25d	1	0.52mi
1200 Treasure Cay Dr Fort Pierce, FL	1.0–2.0	1.0–2.0	995	$1,619	$1.63	15d	10	0.63mi
4209 Longmour Ln Fort Pierce, FL	3.0	2.0	1640	$2,400	$1.46	25d	1	0.66mi
793 Worlington Ln Fort Pierce, FL	3.0	2.0	1560	$2,750	$1.76	25d	1	0.71mi
2552 Peters Rd Fort Pierce, FL	3.0	2.5	1558	$2,570	$1.65	25d	1	1.17mi
323 Raspberry Rd #323 Fort Pierce, FL	3.0	2.0	1503	$2,400	$1.60	25d	1	1.25mi
2100 S 34th St Fort Pierce, FL	3.0	2.0	1262	$2,200	$1.74	25d	1	1.31mi
3208 Louisiana Ave Apt 3 Fort Pierce, FL	3.0	1.0	1050	$1,500	$1.43	25d	1	1.42mi

HOA detail

• Monthly dues: $151 · $1,812/yr
• Likely covers: pool

Listing history 25 events

1. 2026-06-21
   days on market $294,900 Active 95 DOM
2. 2026-06-18
   days on market $294,900 Active 92 DOM
3. 2026-06-17
   days on market $294,900 Active 91 DOM
4. 2026-06-16
   days on market $294,900 Active 90 DOM
5. 2026-06-15
   days on market $294,900 Active 89 DOM
6. 2026-06-14
   days on market $294,900 Active 87 DOM
7. 2026-06-13
   days on market $294,900 Active 86 DOM
8. 2026-06-10
   days on market $294,900 Active 84 DOM
9. 2026-06-09
   days on market $294,900 Active 83 DOM
10. 2026-06-08
    days on market $294,900 Active 82 DOM
11. 2026-06-07
    days on market $294,900 Active 81 DOM
12. 2026-06-05
    days on market $294,900 Active 78 DOM
13. 2026-06-03
    days on market $294,900 Active 77 DOM
14. 2026-06-02
    days on market $294,900 Active 76 DOM
15. 2026-06-01
    days on market $294,900 Active 75 DOM
16. 2026-05-31
    days on market $294,900 Active 74 DOM
17. 2026-05-30
    days on market $294,900 Active 73 DOM
18. 2026-05-11
    price $294,900
19. 2026-04-02
    price $299,900
20. 2026-03-30
    status Active
21. 2026-03-23
    status Pending
22. 2025-08-15
    listed $325,900 Active
23. 2024-05-08
    soldstatus $589,600
24. 2022-10-10
    soldstatus $7,936,571
25. 2022-04-07
    soldstatus $1,456,000

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 5 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,167
• − Mortgage interest: −$16,519
• − Property taxes: −$4,424
• − Insurance: −$1,474
• − Repairs & maintenance: −$2,333
• − Management: −$2,333
• − HOA: −$1,812
• − Depreciation: −$8,579
• Taxable loss: −$8,307
• Est. tax savings @ 24.0%: +$1,994
• After-tax cash flow: $-1,232/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 — Fort Pierce

• Score: 76/100
• State rank: #226
• US rank: #3360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Pierce, FL
• County: Saint Lucie County · 337,150 people
• City population: 78,556
• Metro: Port St. Lucie, FL
• Population (ZIP): 12,804
• Household income: $51,811
• Rent vs Own: 52.4% rent · 47.6% own
• Severe rent burden: 625.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Black 52% Hispanic / Latino 22% White 17% Two or more races 10% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 3% Cuban 1%
• Common ancestry: Hispanic 8% Italian 2% Romanian 1%
• Foreign-born: 16% · Canada
• Languages at home: 73% English-only · Spanish 17% French/Haitian/Cajun 7% Other Indo-European 2%

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: ▼ -33.68%
• Current HPI: 356.2528
• 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

-79.7% since first listed

8 events — show timeline

• 2026-05-11 Price Changed $294,900 Beaches MLS
• 2026-04-02 Price Changed $299,900 Beaches MLS
• 2026-03-30 Relisted — Beaches MLS
• 2026-03-23 Pending — Beaches MLS
• 2025-08-15 Listed $325,900 Beaches MLS
• 2024-05-08 Sold (Public Records) $589,600 Public Records
• 2022-10-10 Sold (Public Records) $7,936,571 Public Records
• 2022-04-07 Sold (Public Records) $1,456,000 Public Records

Property tax history

+14.2%/yr

Latest (2025): $323 · +13.4% YoY. Source: county tax records.