2023 St Lucie Blvd Unit 69 · Fort Pierce North, FL 34946

$49,900

1 bd · 1.0 ba · 500 sqft · Manufactured public records · 156 Days on market

Built 1980 $255/mo HOA

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome Home to $0 LOT LEASE, and super low monthly fees, for this lovely manufactured home in the Whispering Creek 55+, CO-OP community. The spcacious, well maintained home is turn-key ready, and rests on an oversized lot, minutes from the blue water beaches of Ft Pierce. This lovely remodled 1 Bedroom - 1 Bathroom unit boasts an extended carport, a handy storage shed, and comes Turn-key, fully furnished! Schedule your showing today, and see for yourself, it's the best value in the park!

Key facts

• Extended carport
• Storage shed
• Oversized lot

Tags

• OVERSIZED LOT
• EXTENDED CARPORT
• STORAGE SHED
• TURN-KEY FULLY FURNISHED

Property features AI

Finance

• Other: Property faces west
• HOA & community: Homeowner association with monthly dues; Association amenities include clubhouse, fitness center, pool, shuffleboard court, bocce ball, and community room; Monthly HOA fee: $255; Senior community

Exterior

• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Water available; Sewer available
• Home design: Manufactured home; Single-story
• Construction: Modular construction; Built as a resale property
• Exterior features: Not waterfront

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Other flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Heating present (type: Other); Cooling present (type: Other)
• Interior features: No interior-specific features listed; Furnished

🏢 Co-op / cooperative unit. The $49,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $587 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.4% vs local median 5.1% in Fort Pierce North — 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 69/100 on livability (#480 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, 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.
• Market conditions: 133 active listings in the ZIP; 6 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).

Forward outlook

• In year one you build about $3k of equity ($345 loan paydown + $3k appreciation (5.9% local appreciation)).
• St. Lucie County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 5153% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $20k; list at $50k implies a 143% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.92% ✓
• Cap rate: 20.41%
• Cash-on-cash: 50.41%
• DSCR: 3.24
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 59.2%
• Equity multiple: 4.70×
• Total profit: $51,712
• Equity at exit: $31,119

10-year hold

• IRR: 56.2%
• Equity multiple: 9.82×
• Total profit: $123,210
• Equity at exit: $56,219

Cash invested: $13,972 (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 34946

• Home prices YoY: 1.7%
• Active inventory: 133
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,457 high
• Mortgage (P&I): −$262
• Tax from tax record: −$26 /mo · $318/yr
• Insurance: −$21
• HOA: −$255
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $587

Break-even live

Break-even rent $714

Max offer price $49,900

Occupancy floor 55%

Sensitivity live

Price	-10% $615	-5% $601	+0% $587	+5% $573	+10% $559
Rent	-10% $472	-5% $529	+0% $587	+5% $644	+10% $702
Rate	-1.0pp $612	-0.5pp $600	base $587	+0.5pp $574	+1.0pp $561

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2107 San Marcos Ave Fort Pierce, FL	2.0	1.0	625	$1,171	$1.87	22d	1	0.64mi
2017 N 3rd St Fort Pierce, FL	1.0	1.0	600	$1,650	$2.75	24d	1	1.13mi
1610 N 25th St Unit 10 Fort Pierce, FL	2.0	1.0	740	$1,600	$2.16	24d	1	1.36mi
1610 N 25th St Unit 13 Fort Pierce, FL	2.0	1.0	740	$1,550	$2.09	24d	1	1.36mi
1610 N 25th St Unit 1 Fort Pierce, FL	2.0	1.0	740	$1,600	$2.16	15d	1	1.36mi
2202 N AVE Unit A Fort Pierce, FL	2.0	1.0	585	$1,500	$2.56	24d	1	1.40mi

HOA detail

• Monthly dues: $255 · $3,060/yr
• Likely covers: water

Listing history 26 events

1. 2026-06-21
   days on market $49,900 Active 156 DOM
2. 2026-06-18
   days on market $49,900 Active 153 DOM
3. 2026-06-17
   days on market $49,900 Active 152 DOM
4. 2026-06-16
   days on market $49,900 Active 151 DOM
5. 2026-06-15
   days on market $49,900 Active 150 DOM
6. 2026-06-14
   days on market $49,900 Active 148 DOM
7. 2026-06-13
   days on market $49,900 Active 147 DOM
8. 2026-06-10
   days on market $49,900 Active 145 DOM
9. 2026-06-09
   days on market $49,900 Active 144 DOM
10. 2026-06-08
    days on market $49,900 Active 143 DOM
11. 2026-06-07
    days on market $49,900 Active 142 DOM
12. 2026-06-05
    days on market $49,900 Active 139 DOM
13. 2026-06-03
    days on market $49,900 Active 138 DOM
14. 2026-06-02
    days on market $49,900 Active 137 DOM
15. 2026-06-01
    days on market $49,900 Active 136 DOM
16. 2026-05-31
    days on market $49,900 Active 135 DOM
17. 2026-05-30
    days on market $49,900 Active 134 DOM
18. 2026-03-31
    historical $950
19. 2026-02-26
    listed $950
20. 2026-02-25
    historical $950
21. 2026-02-25
    listed $950
22. 2026-01-31
    price $49,900
23. 2026-01-16
    listed $57,900 Active
24. 2005-05-06
    soldstatus $20,500
25. 2005-01-28
    soldstatus $20,500
26. 2001-12-20
    soldstatus $4,400,000

ⓘ 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: $318 · $26/mo
• Projected year-2 tax: $414 · $35/mo
• Expected delta: +$96/yr (+$8/mo · 30.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 50% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,482
• − Mortgage interest: −$2,795
• − Property taxes: −$318
• − Insurance: −$250
• − Repairs & maintenance: −$1,399
• − Management: −$1,399
• − HOA: −$3,060
• − Depreciation: −$1,452
• Taxable income: $6,811
• Est. tax owed @ 24.0%: −$1,635
• After-tax cash flow: $5,409/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 North

• Score: 69/100
• State rank: #480
• US rank: #8764

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Pierce North, FL
• Population (ZIP): 6,588

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 0.68)
• Race & ethnicity: Black 36% Hispanic / Latino 34% White 26% Two or more races 18% Native American 4% Asian 1%
• Hispanic origin (detail): Mexican 16% Puerto Rican 2% Cuban 2% Salvadoran 1%
• Common ancestry: Lithuanian 1% Slovak 1% Portuguese 1%
• Foreign-born: 25% · Canada, Dominican Republic
• Languages at home: 70% English-only · Spanish 28% Other Indo-European 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: ▲ 5.92%
• Current HPI: 351.3324
• 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

-98.9% since first listed

9 events — show timeline

• 2026-03-31 Rental Removed $950 RMLSFL
• 2026-02-26 Listed for Rent $950 RMLSFL
• 2026-02-25 Rental Removed $950 GFLMLS
• 2026-02-25 Listed for Rent $950 GFLMLS
• 2026-01-31 Price Changed $49,900 Beaches MLS
• 2026-01-16 Listed $57,900 Beaches MLS
• 2005-05-06 Sold (Public Records) $20,500 Public Records
• 2005-01-28 Sold (Public Records) $20,500 Public Records
• 2001-12-20 Sold (Public Records) $4,400,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $318 · +2.0% YoY. Source: county tax records.