Ashville Plan · West Vero Corridor, FL 32966

$156,900

3 bd · 2.0 ba · 1,352 sqft · Manufactured · 193 Days on market

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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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

55+ age qualified community. THE HOME IS FOR SALE OR RENT. If purchased, NO LOT RENT UNTIL JUNE 1ST! IF RENTED, NO RENT UNTIL JUNE 1ST! WELCOME TO VILLAGE GREEN A 55+ AGE-QUALIFIED ACTIVE AND VIBRANT COMMUNITY where you can find yourself in your dream home. Discover the beautiful Ashville model, a 2023 3 bed, 2 bath home for sale or rent featuring 1342.00 sq ft of beautifully designed living space. A remarkable energy-certified home that boasts a smart thermostat and an upgraded LED lighting package provides increased efficiency. With a split floor plan, this stunning residence features two cozy bedrooms at the front of the house, while the luxurious master suite is privately tucked away at

Key facts

• Split floor plan
• Smart thermostat
• Center island

Tags

• ENERGY-CERTIFIED HOME
• SMART THERMOSTAT
• UPGRADED LED LIGHTING
• SPLIT FLOOR PLAN
• CENTER ISLAND
• STAINLESS STEEL FARMHOUSE SINK

Property features AI

Finance

• Financial info: List price $158,400

Exterior

• Home design: New construction plan; Address: Ashville Plan, Vero Beach, FL 32966
• Exterior features: Living area approximately 1,352

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Plan name: Ashville

🏗️ 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 manufactured listed at $157k.

Deal economics

• At list price, monthly cash flow is $702 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $157k).
• Recommended offer: $138k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 4.0% in West Vero Corridor — 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 74/100 on livability (#273 in FL, #4,421 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: 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: Dodgertown Elementary School (math 27% / reading 32%, grade F, #1,896 of 2,144 statewide, top 90%, 485 students, 78% FRL); Storm Grove Middle School (math 54% / reading 55%, grade B-, #183 of 571 statewide, top 34%, 1,020 students, 50% 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 flat; 388 active listings in the ZIP; 20 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 41% 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.
• At projected returns (-3.0% appreciation + 0.6% rent growth), your $44k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 193 days — a 12% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

Recommended offer $138,072 (12.0% below list)

Questions for the listing agent

1. It's been on market 193 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: 1.44% ✓
• Cap rate: 11.66%
• Cash-on-cash: 19.16%
• DSCR: 1.85
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.6% rent growth · sell at horizon

5-year hold

• IRR: 8.3%
• Equity multiple: 1.32×
• Total profit: $13,965
• Equity at exit: $23,394

10-year hold

• IRR: 15.4%
• Equity multiple: 2.12×
• Total profit: $48,991
• Equity at exit: $13,566

Cash invested: $43,932 (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 32966

• Home prices YoY: -26.7%
• Rents YoY: 0.6%
• Active inventory: 388
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,261 high
• Mortgage (P&I): −$823
• Tax est. 1.5%: −$196 /mo · $2,354/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $702

Break-even live

Break-even rent $1,373

Max offer price $156,900

Occupancy floor 64%

Sensitivity live

Price	-10% $810	-5% $756	+0% $702	+5% $647	+10% $593
Rent	-10% $523	-5% $612	+0% $702	+5% $791	+10% $880
Rate	-1.0pp $781	-0.5pp $742	base $702	+0.5pp $661	+1.0pp $620

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: $39,225
• Closing costs: $4,707
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1924 Westminster Cir #6 Vero Beach, FL	2.0	3.0	1350	$2,000	$1.48	22d	1	0.33mi
1930 Westminster Cir #2 Vero Beach, FL	2.0	3.0	1430	$1,800	$1.26	22d	1	0.36mi
1827 Aynsley Way Unit 2-27 Vero Beach, FL	2.0	2.0	1500	$3,300	$2.20	22d	1	0.44mi
7580 Heron Cir Vero Beach, FL	1.0–3.0	1.0–2.0	1003	$2,467	$2.46	15d	21	0.46mi
24 Plantation Dr #201 Vero Beach, FL	2.0	2.0	1188	$1,750	$1.47	22d	1	0.52mi
28 Plantation Dr Vero Beach, FL	2.0	2.0	1188	$2,000	$1.68	22d	1	0.56mi
20 Plantation Dr #101 Vero Beach, FL	2.0	2.0	1188	$2,200	$1.85	22d	1	0.56mi
2050 Griffon Rd Vero Beach, FL	1.0–2.0	1.0–2.0	850	$2,295	$2.70	15d	31	0.63mi
42 Plantation Dr #103 Vero Beach, FL	2.0	2.0	1188	$1,900	$1.60	22d	1	0.64mi
43 Plantation Dr #106 Vero Beach, FL	2.0	2.0	1188	$1,850	$1.56	22d	1	0.67mi
39 Plantation Dr #101 Vero Beach, FL	2.0	2.0	1188	$2,200	$1.85	22d	1	0.68mi
29 Plantation Dr Vero Beach, FL	2.0	2.0	1188	$1,800	$1.52	22d	1	0.76mi
30 Plantation Dr #101 Vero Beach, FL	2.0	2.0	1188	$2,000	$1.68	22d	1	0.79mi
1625 Pointe West Way Vero Beach, FL	3.0	2.5	1600	$2,000	$1.25	22d	1	0.95mi
2590 Bella Vista Cir Vero Beach, FL	3.0	2.0	1624	$2,550	$1.57	22d	1	0.98mi
1930 Westhampton Ct Vero Beach, FL	2.0	2.0	1531	$1,950	$1.27	22d	1	1.01mi
6510 Oxford Cir #101 Vero Beach, FL	3.0	2.0	1746	$2,200	$1.26	22d	1	1.16mi
1868 Sixty Oaks Ln Vero Beach, FL	2.0	2.0	971	$2,450	$2.52	22d	1	1.43mi
1890 Tatnall Sq Vero Beach, FL	1.0–3.0	1.0–2.0	1098	$2,195	$2.00	15d	7	1.49mi
8415 22nd St Vero Beach, FL	2.0	2.0	1100	$2,000	$1.82	15d	1	1.50mi

Listing history 5 events

1. 2026-06-05
   days on market $156,900 Active 193 DOM
2. 2026-06-02
   days on market $156,900 Active 191 DOM
3. 2026-06-01
   days on market $156,900 Active 190 DOM
4. 2026-05-31
   days on market $156,900 Active 189 DOM
5. 2026-05-30
   days on market $156,900 Active 188 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $27,128
• − Mortgage interest: −$8,789
• − Property taxes: −$2,354
• − Insurance: −$784
• − Repairs & maintenance: −$2,170
• − Management: −$2,170
• − Depreciation: −$4,564
• Taxable income: $6,296
• Est. tax owed @ 24.0%: −$1,511
• After-tax cash flow: $6,908/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 — West Vero Corridor

• Score: 74/100
• State rank: #273
• US rank: #4421

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Vero Corridor, FL
• County: Indian River County · 143,738 people
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 20,686
• Household income: $66,771
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 766.0

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 9% Two or more races 7% Black 5%
• Hispanic origin (detail): Puerto Rican 4% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 7% Russian/Polish/Slavic 1% 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: ▼ -102.01%
• Current HPI: 280.669
• Rent YoY: ▲ 0.60%
• 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