24 Villa Del Norte · Lakewood Park, FL 34951

$29,900

2 bd · 2.0 ba · 1,300 sqft · Manufactured · 424 Days on market

Built 1987 Est $39k · 23% under ↓ 46% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Lovely 2-bedroom 2-bath home with LAKE VIEW. Home is in the desirable 55+Spanish Lakes Country Club community. No carpet. NEW LAMINATE FLOORS. NEW WATER HEATER 2025. Split floor plan. Florida room with a deck off the back of the home for enjoying morning coffee or evening cocktail, looking out at the beautiful lake view. Lawn care, trash removal, and golf are included in lot rent. 2 pools, tennis, pickleball, bocceball, and shuffleboard. clubhouse and much more.

Key facts

• Golf included
• Laminate floors
• Lake view

Tags

• LAKE VIEW
• LAMINATE FLOORS
• FLORIDA ROOM
• DECK OFF BACK
• GOLF INCLUDED
• 2 POOLS

Property features AI

Finance

• Other: Property faces north
• Financial info: Pets allowed (restrictions possible)
• HOA & community: Association amenities include clubhouse, pool, fitness center, tennis courts, pickleball courts, shuffleboard, bocce ball, billiard room, dog park, community room, library, workshop area and golf course; Association covers grounds maintenance, trash and golf; Senior community

Exterior

• Parking: Has carport; Attached covered carport
• Security: Security patrol
• Utilities: Three-phase electric service; Public sewer; Water available; Sewer available; Cable available
• Home design: Manufactured home; Single-story
• Construction: Modular construction; Composition shingle roof
• Exterior features: Waterfront property; Covered attached carport

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling (air conditioning)
• Interior features: Split bedroom layout; Partially furnished; Blinds on windows
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $30k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• Cap rate 72.5% vs local median 5.7% in Lakewood Park — 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 63/100 on livability (#719 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• 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: Weatherbee Elementary School (math 32% / reading 32%, grade F, #1,797 of 2,144 statewide, top 86%, 672 students, 90% FRL); Dan Mccarty Middle School (math 23% / reading 23%, grade F, #542 of 571 statewide, top 95%, 747 students, 88% FRL); Fort Pierce Westwood Academy The W.E.S.T. Prep Magnet (math 16% / reading 36%, grade F, #494 of 667 statewide, top 75%, 2,010 students, 75% FRL) — zoned schools average 85% FRL vs 59% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 44% district-wide (-17 pts) — the specific schools serving this property underperform the St. Lucie average; the district grade overstates school quality for this exact location.
• Market conditions: 294 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); 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• This rent runs 45% of the median local income ($63k/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 $207 of loan paydown is wiped out by about $897 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 + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 424 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (46%) 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 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $26,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 424 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 7.86% ✓
• Cap rate: 72.54%
• Cash-on-cash: 236.60%
• DSCR: 11.53
• GRM: 1.1

CMA / ARV

• ARV (on-the-fly): $39,000
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 Grande Camino Pl	0.30mi	2/2.0	1,400 (+8%)	2mo	$31,750	$23	72
70 Lagos Del Norte	0.22mi	2/2.0	1,400 (+8%)	14mo	$32,600	$23	65
65 Las Casitas Ct	0.46mi	2/2.0	1,316 (+1%)	16mo	$50,000	$38	64
58 Calle De Lagos	0.48mi	2/2.0	1,416 (+9%)	6mo	$55,000	$39	58
5 Grande Camino Pl	0.31mi	2/2.0	1,200 (-8%)	20mo	$50,495	$42	56
45 Ecuador Way	0.50mi	2/2.0	1,400 (+8%)	20mo	$42,000	$30	47
38 Montoya	0.57mi	2/2.0	1,416 (+9%)	22mo	$19,995	$14	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 12.98×
• Total profit: $100,325
• Equity at exit: $4,458

10-year hold

• IRR: —
• Equity multiple: 27.62×
• Total profit: $222,883
• Equity at exit: $2,585

Cash invested: $8,372 (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 34951

• Home prices YoY: -23.6%
• Active inventory: 294
• Price-to-rent: 1.1×

Monthly cashflow live

• Estimated rent: $2,351 high
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $448/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $1,651

Break-even live

Break-even rent $262

Max offer price $29,900

Occupancy floor 25%

Sensitivity live

Price	-10% $1,671	-5% $1,661	+0% $1,651	+5% $1,640	+10% $1,630
Rent	-10% $1,465	-5% $1,558	+0% $1,651	+5% $1,744	+10% $1,836
Rate	-1.0pp $1,666	-0.5pp $1,658	base $1,651	+0.5pp $1,643	+1.0pp $1,635

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2450 8th Ave SW Vero Beach, FL	3.0	2.0	1388	$2,100	$1.51	22d	1	0.26mi
2320 Water Oaks Ln Unit 111 Vero Beach, FL	3.0	2.0	1811	$3,500	$1.93	22d	1	0.48mi
985 23rd Pl SW Vero Beach, FL	3.0	2.0	1176	$2,200	$1.87	22d	1	0.53mi
7503 Paso Robles Blvd Fort Pierce, FL	3.0	2.0	1260	$2,000	$1.59	25d	1	0.93mi
6906 Ocala Ave Fort Pierce, FL	3.0	2.0	1175	$1,955	$1.66	15d	1	0.99mi
7500 Pensacola Rd Fort Pierce, FL	3.0	2.0	1125	$2,150	$1.91	15d	1	1.04mi
5642 Sunberry Cir Fort Pierce, FL	3.0	2.0	1377	$1,950	$1.42	25d	1	1.13mi
254 Hawthorne Ln Vero Beach, FL	3.0	2.0	1703	$2,900	$1.70	22d	1	1.25mi
335 Hawthorne Ln Vero Beach, FL	2.0	2.0	1587	$1,800	$1.13	22d	1	1.29mi
7403 Winter Garden Pkwy Fort Pierce, FL	3.0	2.0	1372	$2,200	$1.60	22d	1	1.33mi
3766 Harborside Ave Fort Pierce, FL	2.0	2.0	1308	$2,160	$1.65	15d	1	1.42mi
2066 5th Ct SE Vero Beach, FL	2.0	2.0	1415	$3,850	$2.72	22d	1	1.43mi

Listing history 26 events

1. 2026-06-21
   days on market $29,900 Active 424 DOM
2. 2026-06-18
   days on market $29,900 Active 421 DOM
3. 2026-06-17
   days on market $29,900 Active 420 DOM
4. 2026-06-16
   days on market $29,900 Active 419 DOM
5. 2026-06-15
   days on market $29,900 Active 418 DOM
6. 2026-06-14
   days on market $29,900 Active 416 DOM
7. 2026-06-13
   days on market $29,900 Active 415 DOM
8. 2026-06-10
   days on market $29,900 Active 413 DOM
9. 2026-06-09
   days on market $29,900 Active 412 DOM
10. 2026-06-08
    days on market $29,900 Active 411 DOM
11. 2026-06-07
    days on market $29,900 Active 410 DOM
12. 2026-06-05
    days on market $29,900 Active 407 DOM
13. 2026-06-03
    days on market $29,900 Active 406 DOM
14. 2026-06-02
    days on market $29,900 Active 405 DOM
15. 2026-06-01
    days on market $29,900 Active 404 DOM
16. 2026-05-31
    days on market $29,900 Active 403 DOM
17. 2026-05-30
    days on market $29,900 Active 402 DOM
18. 2026-03-05
    price $29,900
19. 2026-02-07
    price $37,500
20. 2025-11-22
    price $42,000
21. 2025-10-25
    price $45,000
22. 2025-10-25
    status Active
23. 2025-10-23
    historical
24. 2025-07-02
    price $46,000
25. 2025-05-22
    price $49,990
26. 2025-04-22
    listed $55,000 Active

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 25 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: $28,213
• − Mortgage interest: −$1,675
• − Property taxes: −$448
• − Insurance: −$150
• − Repairs & maintenance: −$2,257
• − Management: −$2,257
• − Depreciation: −$870
• Taxable income: $20,556
• Est. tax owed @ 24.0%: −$4,933
• After-tax cash flow: $14,875/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 — Lakewood Park

• Score: 63/100
• State rank: #719
• US rank: #15407

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakewood Park, FL
• County: Saint Lucie County · 337,150 people
• Metro: Port St. Lucie, FL
• Population (ZIP): 17,148
• Household income: $63,122
• Rent vs Own: 11.7% rent · 88.3% own
• Severe rent burden: 140.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Black 13% Hispanic / Latino 8% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 2%
• Foreign-born: 10% · Canada, Jamaica, Vietnam
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 3% Vietnamese 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: ▼ -106.06%
• Current HPI: 343.1376
• 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

-45.6% since first listed

9 events — show timeline

• 2026-03-05 Price Changed $29,900 Beaches MLS
• 2026-02-07 Price Changed $37,500 Beaches MLS
• 2025-11-22 Price Changed $42,000 Beaches MLS
• 2025-10-25 Price Changed $45,000 Beaches MLS
• 2025-10-25 Relisted — Beaches MLS
• 2025-10-23 Listing Removed — Beaches MLS
• 2025-07-02 Price Changed $46,000 Beaches MLS
• 2025-05-22 Price Changed $49,990 Beaches MLS
• 2025-04-22 Listed $55,000 Beaches MLS