720 Lake Orchid Cir #201 · Florida Ridge, FL 32962

$169,900

2 bd · 2.0 ba · 1,414 sqft · Condo public records · 27 Days on market

Built 1997 $571/mo HOA · 27% 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).

• Cash flow +12.0/30.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +4.2/10.0
• DSCR +3.6/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Greet your guests in the foyer to the open concept dining & living room. Beautifully designed 2/2 w split bedrooms/ baths. Tasteful tile throughout. The expansive bonus room includes an office space with natural light from the IMPACT windows. Treetop views offer privacy and zen for morning coffee plus a great entertaining space! Kitchen features gorgeous granite, newer appliances and full size wash/dryer. The bathrooms feature floor to ceiling tile, spa like fixtures and a step in shower. HOA includes Cable, Internet, Water, Sewer, Insurance, manned security, 2 pools, kayak storage, tennis.

Key facts

• Office space
• Foyer
• Living dining area

Tags

• FOYER
• LIVING DINING AREA
• ITALIAN TILE
• BONUS ROOM
• OFFICE SPACE
• IMPACT WINDOWS

Property features AI

Finance

• Other: Directions: US 1 to Grove Isle
• Financial info: No land lease; Pets allowed with breed restrictions; Senior community
• HOA & community: Association with monthly fee; Monthly HOA fee: $571; HOA covers cable, internet, structure maintenance, security, sewer, trash, water, common areas, reserve funds, and pool service; Community amenities: heated pool, pool, spa/hot tub, tennis courts, pickleball courts, shuffleboard court, billiard room, community room, trails, street lights

Exterior

• Parking: Detached carport; Covered carport (1 space); 2 open parking spaces (additional); Total parking spaces: 1 (covered) + 2 open
• Security: Gated community with guard; Security guard
• Utilities: Public water; Public sewer; Cable available; Electricity available
• Home design: Condominium; Resale; 2 total stories; Entry level: 2; Faces east
• Construction: Block/CBS construction; Shingle roof; Appraiser-recorded building area
• Exterior features: Terrace; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: High ceilings; Furnished negotiable
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $170k.

Deal economics

• At list price, monthly cash flow is $-106 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (11.0% below list).
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $151k (11.0% below list) — sets the bar for cash-flow.
• Cap rate 6.0% 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: Indian River Academy (math 53% / reading 50%, grade C-, #1,035 of 2,144 statewide, top 49%, 430 students, 81% 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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 38% 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 $1k of loan paydown is wiped out by about $5k 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 27 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 27% 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 $151,145 (11.0% 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. 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. 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?
8. 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.
9. 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.
10. 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: 1.23% ✓
• Cap rate: 6.01%
• Cash-on-cash: -1.00%
• DSCR: 0.96
• GRM: 6.8

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: -18.4%
• Equity multiple: 0.34×
• Total profit: $-31,383
• Equity at exit: $25,333

10-year hold

• IRR: -7.3%
• Equity multiple: 0.50×
• Total profit: $-23,858
• Equity at exit: $14,690

Cash invested: $47,572 (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 32962

• Rents YoY: 4.2%
• Active inventory: 351
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,096 high
• Mortgage (P&I): −$891
• Tax from tax record: −$163 /mo · $1,951/yr
• Insurance: −$71
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$571
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $-106

Break-even live

Break-even rent $2,230

Max offer price $151,145

Occupancy floor —

Sensitivity live

Price	-10% $-10	-5% $-58	+0% $-106	+5% $-154	+10% $-202
Rent	-10% $-272	-5% $-189	+0% $-106	+5% $-23	+10% $59
Rate	-1.0pp $-21	-0.5pp $-63	base $-106	+0.5pp $-150	+1.0pp $-195

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
740 Lake Orchid Cir #109 Vero Beach, FL	2.0	2.0	1200	$2,000	$1.67	23d	1	0.04mi
720 Lake Orchid Cir #203 Vero Beach, FL	2.0	2.0	1414	$1,500	$1.06	23d	1	0.04mi
670 E Lake Jasmine Cir #106 Vero Beach, FL	2.0	2.0	1414	$2,750	$1.94	23d	1	0.08mi
655 W Lake Jasmine Cir #207 Vero Beach, FL	2.0	2.0	1213	$1,850	$1.53	15d	1	0.11mi
150 12th Pl SE Vero Beach, FL	3.0	2.0	1564	$2,900	$1.85	15d	1	0.33mi
254 Hawthorne Ln Vero Beach, FL	3.0	2.0	1703	$2,900	$1.70	23d	1	0.64mi
335 Hawthorne Ln Vero Beach, FL	2.0	2.0	1587	$1,800	$1.13	23d	1	0.67mi
2066 5th Ct SE Vero Beach, FL	2.0	2.0	1415	$3,850	$2.72	23d	1	0.88mi
2320 Water Oaks Ln Unit 111 Vero Beach, FL	3.0	2.0	1811	$3,500	$1.93	23d	1	1.32mi
16 Vista Palm Ln Vero Beach, FL	1.0–2.0	1.5–2.0	800	$1,700	$2.12	23d	2	1.34mi
36 Pine Arbor Ln Vero Beach, FL	2.0	2.0	1000	$1,550	$1.55	23d	2	1.45mi
37 Pine Arbor Ln #101 Vero Beach, FL	2.0	2.0	1000	$1,600	$1.60	15d	1	1.45mi

HOA detail condo

• Monthly dues: $571 · $6,852/yr
• Likely covers: watersewerinternetcablepoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-04-30
   status Pending

   Show marketing remark (603 chars)

   Greet your guests in the foyer to the open concept dining & living room. Beautifully designed 2/2 w split bedrooms/ baths. Tasteful tile throughout. The expansive bonus room includes an office space with natural light from the IMPACT windows. Treetop views offer privacy and zen for morning coffee plus a great entertaining space! Kitchen features gorgeous granite, newer appliances and full size wash/dryer. The bathrooms feature floor to ceiling tile, spa like fixtures and a step in shower. HOA includes Cable, Internet, Water, Sewer, Insurance, manned security, 2 pools, kayak storage, tennis.

2. 2026-04-30
   status Pending 603-char remark

   Show marketing remark (603 chars)

   Greet your guests in the foyer to the open concept dining & living room. Beautifully designed 2/2 w split bedrooms/ baths. Tasteful tile throughout. The expansive bonus room includes an office space with natural light from the IMPACT windows. Treetop views offer privacy and zen for morning coffee plus a great entertaining space! Kitchen features gorgeous granite, newer appliances and full size wash/dryer. The bathrooms feature floor to ceiling tile, spa like fixtures and a step in shower. HOA includes Cable, Internet, Water, Sewer, Insurance, manned security, 2 pools, kayak storage, tennis.

3. 2026-04-20
   historical Active Under Contract

   Show marketing remark (603 chars)

   Greet your guests in the foyer to the open concept dining & living room. Beautifully designed 2/2 w split bedrooms/ baths. Tasteful tile throughout. The expansive bonus room includes an office space with natural light from the IMPACT windows. Treetop views offer privacy and zen for morning coffee plus a great entertaining space! Kitchen features gorgeous granite, newer appliances and full size wash/dryer. The bathrooms feature floor to ceiling tile, spa like fixtures and a step in shower. HOA includes Cable, Internet, Water, Sewer, Insurance, manned security, 2 pools, kayak storage, tennis.

4. 2026-04-20
   historical Active Under Contract 603-char remark

   Show marketing remark (603 chars)

   Greet your guests in the foyer to the open concept dining & living room. Beautifully designed 2/2 w split bedrooms/ baths. Tasteful tile throughout. The expansive bonus room includes an office space with natural light from the IMPACT windows. Treetop views offer privacy and zen for morning coffee plus a great entertaining space! Kitchen features gorgeous granite, newer appliances and full size wash/dryer. The bathrooms feature floor to ceiling tile, spa like fixtures and a step in shower. HOA includes Cable, Internet, Water, Sewer, Insurance, manned security, 2 pools, kayak storage, tennis.

5. 2026-04-16
   price $169,900 603-char remark

   Show marketing remark (603 chars)

   Greet your guests in the foyer to the open concept dining & living room. Beautifully designed 2/2 w split bedrooms/ baths. Tasteful tile throughout. The expansive bonus room includes an office space with natural light from the IMPACT windows. Treetop views offer privacy and zen for morning coffee plus a great entertaining space! Kitchen features gorgeous granite, newer appliances and full size wash/dryer. The bathrooms feature floor to ceiling tile, spa like fixtures and a step in shower. HOA includes Cable, Internet, Water, Sewer, Insurance, manned security, 2 pools, kayak storage, tennis.

6. 2026-04-15
   price $169,900
7. 2026-04-03
   status Active 603-char remark

   Show marketing remark (603 chars)

   Greet your guests in the foyer to the open concept dining & living room. Beautifully designed 2/2 w split bedrooms/ baths. Tasteful tile throughout. The expansive bonus room includes an office space with natural light from the IMPACT windows. Treetop views offer privacy and zen for morning coffee plus a great entertaining space! Kitchen features gorgeous granite, newer appliances and full size wash/dryer. The bathrooms feature floor to ceiling tile, spa like fixtures and a step in shower. HOA includes Cable, Internet, Water, Sewer, Insurance, manned security, 2 pools, kayak storage, tennis.

8. 2026-04-02
   listed $175,500 Active

   Show marketing remark (603 chars)

   Greet your guests in the foyer to the open concept dining & living room. Beautifully designed 2/2 w split bedrooms/ baths. Tasteful tile throughout. The expansive bonus room includes an office space with natural light from the IMPACT windows. Treetop views offer privacy and zen for morning coffee plus a great entertaining space! Kitchen features gorgeous granite, newer appliances and full size wash/dryer. The bathrooms feature floor to ceiling tile, spa like fixtures and a step in shower. HOA includes Cable, Internet, Water, Sewer, Insurance, manned security, 2 pools, kayak storage, tennis.

9. 2026-04-02
   listed $175,500 603-char remark

   Show marketing remark (603 chars)

   Greet your guests in the foyer to the open concept dining & living room. Beautifully designed 2/2 w split bedrooms/ baths. Tasteful tile throughout. The expansive bonus room includes an office space with natural light from the IMPACT windows. Treetop views offer privacy and zen for morning coffee plus a great entertaining space! Kitchen features gorgeous granite, newer appliances and full size wash/dryer. The bathrooms feature floor to ceiling tile, spa like fixtures and a step in shower. HOA includes Cable, Internet, Water, Sewer, Insurance, manned security, 2 pools, kayak storage, tennis.

10. 2021-03-02
    soldstatus $162,500
11. 2021-02-24
    soldstatus $162,500 Closed 422-char remark

    Show marketing remark (422 chars)

    BEAUTIFLY Updated 2nd floor condo! Washer & dryer inside the unit, IMPACT windows & Tile throughout, Bathrooms redone with beautiful tile to the ceiling! Kitchen has New dishwasher & almost new on the rest of the appliances & AC is 2017. Plenty of storage. Enjoy the Awesome preserve views while inside OR go & enjoy the 55+ ACTIVITIES, swim, hike, tennis card/board games even have a kayak!

12. 2021-02-10
    historical Active Under Contract 422-char remark

    Show marketing remark (422 chars)

    BEAUTIFLY Updated 2nd floor condo! Washer & dryer inside the unit, IMPACT windows & Tile throughout, Bathrooms redone with beautiful tile to the ceiling! Kitchen has New dishwasher & almost new on the rest of the appliances & AC is 2017. Plenty of storage. Enjoy the Awesome preserve views while inside OR go & enjoy the 55+ ACTIVITIES, swim, hike, tennis card/board games even have a kayak!

13. 2021-02-03
    price $165,000 422-char remark

    Show marketing remark (422 chars)

    BEAUTIFLY Updated 2nd floor condo! Washer & dryer inside the unit, IMPACT windows & Tile throughout, Bathrooms redone with beautiful tile to the ceiling! Kitchen has New dishwasher & almost new on the rest of the appliances & AC is 2017. Plenty of storage. Enjoy the Awesome preserve views while inside OR go & enjoy the 55+ ACTIVITIES, swim, hike, tennis card/board games even have a kayak!

14. 2020-12-06
    listed $169,950 Active 422-char remark

    Show marketing remark (422 chars)

    BEAUTIFLY Updated 2nd floor condo! Washer & dryer inside the unit, IMPACT windows & Tile throughout, Bathrooms redone with beautiful tile to the ceiling! Kitchen has New dishwasher & almost new on the rest of the appliances & AC is 2017. Plenty of storage. Enjoy the Awesome preserve views while inside OR go & enjoy the 55+ ACTIVITIES, swim, hike, tennis card/board games even have a kayak!

15. 2001-09-05
    soldstatus $100,000
16. 1999-05-19
    soldstatus $93,000

ⓘ 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: $1,951 · $163/mo
• Projected year-2 tax: $1,951 · $163/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: $25,149
• − Mortgage interest: −$9,517
• − Property taxes: −$1,951
• − Insurance: −$1,647
• − Repairs & maintenance: −$2,012
• − Management: −$2,012
• − HOA: −$6,852
• − Depreciation: −$4,943
• Taxable loss: −$3,784
• Est. tax savings @ 24.0%: +$908
• After-tax cash flow: $-366/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

+82.7% since first listed

16 events — show timeline

• 2026-04-30 Pending — Beaches MLS
• 2026-04-30 Pending — RAIRCMLS
• 2026-04-20 Contingent — Beaches MLS
• 2026-04-20 Contingent — RAIRCMLS
• 2026-04-16 Price Changed $169,900 RAIRCMLS
• 2026-04-15 Price Changed $169,900 Beaches MLS
• 2026-04-03 Relisted — RAIRCMLS
• 2026-04-02 Listed $175,500 RAIRCMLS
• 2026-04-02 Listed $175,500 Beaches MLS
• 2021-03-02 Sold (Public Records) $162,500 Public Records
• 2021-02-24 Sold (MLS) $162,500 RAIRCMLS
• 2021-02-10 Contingent — RAIRCMLS
• 2021-02-03 Price Changed $165,000 RAIRCMLS
• 2020-12-06 Listed $169,950 RAIRCMLS
• 2001-09-05 Sold (Public Records) $100,000 Public Records
• 1999-05-19 Sold (Public Records) $93,000 Public Records

Property tax history

+8.6%/yr

Latest (2025): $1,951 · +3.1% YoY. Source: county tax records.