1408 Russell Ln · Fort Pierce South, FL 34982

$275,000

3 bd · 4.0 ba · 2,297 sqft · SingleFamily public records · 35 Days on market

Built 1956 0.41 ac lot

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Why this score? — see what drove the C- 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 +19.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• Rent growth +4.4/5.0
• 1% rule +4.2/10.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits at this spacious single-family home situated on an oversized lot in Fort Pierce! A true blank canvas for investors, renovators, or buyers looking to customize to their vision. The flexible floor plan features 2 primary suites, expansive living areas, and approximately 2,297 sq ft under air, providing endless layout and design possibilities. The large footprint offers strong potential with room to create your vision. Private wooded setting with ample outdoor space for storage, recreation, or future improvements. Bring your imagination and transform this property into its full potential! Professional photos will be uploaded in 48 hours

Key facts

• Ample outdoor space
• Flexible floor plan
• Oversized lot

Tags

• OVERSIZED LOT
• FLEXIBLE FLOOR PLAN
• PRIVATE WOODED SETTING
• AMPLE OUTDOOR SPACE

Property features AI

Exterior

• Parking: Two open, unpaved parking spaces
• Utilities: Well water; Septic tank; Electricity connected
• Home design: Single-family residence; One story; Resale property; Faces south
• Construction: Built with CBS construction; Shingle roof; Slab foundation
• Exterior features: Private road frontage; Dirt road surface; Private maintained road; Not waterfront

Interior

• Bedrooms: Four main-level bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: Four full bathrooms (all on main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Split bedroom layout
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $253k (8.0% below list).
• Recommended offer: $253k (8.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#322 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D, schools D-, 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.
• Market conditions: Rents rising fast (+7.4%/yr); 336 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $2,529/mo this rent would consume 56% of the median local household income ($54k/yr) (locally 1086% 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 $8k 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 + 7.4% rent growth), your $77k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.
• Current owner paid $60k; list at $275k implies a 358% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $252,914 (8.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.92% ✗
• Cap rate: 7.60%
• Cash-on-cash: 4.68%
• DSCR: 1.21
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.42% rent growth · sell at horizon

5-year hold

• IRR: -4.6%
• Equity multiple: 0.82×
• Total profit: $-13,760
• Equity at exit: $41,003

10-year hold

• IRR: 9.3%
• Equity multiple: 1.85×
• Total profit: $65,132
• Equity at exit: $23,777

Cash invested: $77,000 (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 34982

• Home prices YoY: -33.4%
• Rents YoY: 7.4%
• Active inventory: 336
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,529 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$141 /mo · $1,690/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$531
• Net cashflow: $301

Break-even live

Break-even rent $2,149

Max offer price $275,000

Occupancy floor 83%

Sensitivity live

Price	-10% $456	-5% $378	+0% $301	+5% $223	+10% $145
Rent	-10% $101	-5% $201	+0% $301	+5% $400	+10% $500
Rate	-1.0pp $439	-0.5pp $370	base $301	+0.5pp $229	+1.0pp $157

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3343 Liberty Square Way #104 Fort Pierce, FL	3.0	2.5	1638	$2,300	$1.40	24d	1	0.28mi
3710 Promenade Way Fort Pierce, FL	3.0	2.5	2716	$2,600	$0.96	24d	1	0.30mi
2601 Creekside Dr Fort Pierce, FL	3.0	2.5	1834	$3,000	$1.64	22d	1	0.56mi
4003 Oleander Ave Fort Pierce, FL	3.0–4.0	2.0	1765	$2,748	$1.56	14d	1	0.96mi
4220 Sunrise Blvd Fort Pierce, FL	3.0	2.0	1870	$10,000	$5.35	24d	1	1.04mi
3518 Carriage Pointe Cir Fort Pierce, FL	3.0	2.0	1594	$3,000	$1.88	24d	1	1.49mi

Listing history 20 events

1. 2026-06-18
   days on market $275,000 Active 35 DOM
2. 2026-06-17
   days on market $275,000 Active 34 DOM
3. 2026-06-16
   days on market $275,000 Active 33 DOM
4. 2026-06-15
   days on market $275,000 Active 32 DOM
5. 2026-06-14
   days on market $275,000 Active 30 DOM
6. 2026-06-13
   days on market $275,000 Active 29 DOM
7. 2026-06-10
   days on market $275,000 Active 27 DOM
8. 2026-06-09
   days on market $275,000 Active 26 DOM
9. 2026-06-08
   days on market $275,000 Active 25 DOM
10. 2026-06-07
    days on market $275,000 Active 24 DOM
11. 2026-06-05
    days on market $275,000 Active 21 DOM
12. 2026-06-03
    days on market $275,000 Active 20 DOM
13. 2026-06-02
    days on market $275,000 Active 19 DOM
14. 2026-06-01
    days on market $275,000 Active 18 DOM
15. 2026-05-31
    days on market $275,000 Active 17 DOM
16. 2026-05-30
    days on market $275,000 Active 16 DOM
17. 2026-05-14
    listed $275,000 Active

    Show marketing remark (578 chars)

    Opportunity awaits at this spacious single-family home situated on an oversized lot in Fort Pierce! A true blank canvas for investors, renovators, or buyers looking to customize to their vision. The flexible floor plan features 2 primary suites, expansive living areas, and approximately 2,297 sq ft under air, providing endless layout and design possibilities. The large footprint offers strong potential with room to create your vision. Private wooded setting with ample outdoor space for storage, recreation, or future improvements. Bring your imagination Prof photos 48 hrs

18. 2026-05-14
    listed $275,000 Active 660-char remark

    Show marketing remark (578 chars)

    Opportunity awaits at this spacious single-family home situated on an oversized lot in Fort Pierce! A true blank canvas for investors, renovators, or buyers looking to customize to their vision. The flexible floor plan features 2 primary suites, expansive living areas, and approximately 2,297 sq ft under air, providing endless layout and design possibilities. The large footprint offers strong potential with room to create your vision. Private wooded setting with ample outdoor space for storage, recreation, or future improvements. Bring your imagination Prof photos 48 hrs

19. 2026-05-14
    listed $275,000 Active 578-char remark

    Show marketing remark (578 chars)

    Opportunity awaits at this spacious single-family home situated on an oversized lot in Fort Pierce! A true blank canvas for investors, renovators, or buyers looking to customize to their vision. The flexible floor plan features 2 primary suites, expansive living areas, and approximately 2,297 sq ft under air, providing endless layout and design possibilities. The large footprint offers strong potential with room to create your vision. Private wooded setting with ample outdoor space for storage, recreation, or future improvements. Bring your imagination Prof photos 48 hrs

20. 1996-12-23
    soldstatus $60,000

ⓘ 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: $1,690 · $141/mo
• Projected year-2 tax: $2,282 · $190/mo
• Expected delta: +$593/yr (+$49/mo · 35.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,350
• − Mortgage interest: −$15,404
• − Property taxes: −$1,690
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,428
• − Management: −$2,428
• − Depreciation: −$8,000
• Taxable loss: −$975
• Est. tax savings @ 24.0%: +$234
• After-tax cash flow: $3,840/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 South

• Score: 73/100
• State rank: #322
• US rank: #5656

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Pierce South, FL
• County: Saint Lucie County · 337,150 people
• Metro: Port St. Lucie, FL
• Population (ZIP): 31,143
• Household income: $54,082
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 1086.0

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: Majority White (62%)
• Race & ethnicity: White 62% Hispanic / Latino 22% Two or more races 12% Black 12%
• Hispanic origin (detail): Mexican 10% Puerto Rican 3% Cuban 3%
• Common ancestry: Italian 7% Hispanic 2% Lithuanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 80% English-only · Spanish 16% French/Haitian/Cajun 3%

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: ▼ -199.47%
• Current HPI: 397.2649
• Rent YoY: ▲ 7.42%
• 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

+358.3% since first listed

4 events — show timeline

• 2026-05-14 Listed $275,000 RAIRCMLS
• 2026-05-14 Listed $275,000 SCMLS
• 2026-05-14 Listed $275,000 Beaches MLS
• 1996-12-23 Sold (Public Records) $60,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,690 · +8.5% YoY. Source: county tax records.