14441 Dulce Real · Vero Beach South, FL 34951

$145,000

2 bd · 2.0 ba · 1,351 sqft · SingleFamily public records · 32 Days on market

Built 2005 5,663 sqft lot Est $145k · at est.

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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 +9.9/10.0
• ARV discount +7.4/15.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful, bright remodeled CBS home located in the PET Section of the desirable 55+ Community of Spanish Lakes Fairways. This spacious 2/2 home has a new A/C and metal roof installed in 2022. Granite Kitchen counters with new kitchen appliances updated in 2022. This community has many amenities including an 18-hole golf course, pickle ball, heated pool, tennis, and much more. You can take advantage of the club house or enjoy a relaxing even in your welcoming air-conditioned Florida Room. Make your appointment to see this home today. Buyer to verify measurements.

Key facts

• Metal roof
• 18-hole golf course
• Pickleball

Tags

• ENGINEERED WOOD FLOORS
• GRANITE COUNTERTOPS
• METAL ROOF
• 18-HOLE GOLF COURSE
• 2 POOLS
• PICKLEBALL

Property features AI

Finance

• Financial info: Land lease in place (monthly payment required, expires 2027)
• HOA & community: Located in a senior community; Pets allowed (restrictions may apply)

Exterior

• Parking: Attached garage (1 car); Covered parking totaling 2 spaces
• Utilities: Public sewer; Cable available; Electricity available; Other water source
• Home design: Single family residence; One story; Resale condition; Faces north
• Construction: Built with CBS construction; Metal roof
• Exterior features: Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile; Engineered wood
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Walk-in closets; Split bedroom layout; Pull-down attic stairs
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $854 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.4% vs local median 4.3% in Vero Beach South — 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 78/100 on livability (#163 in FL, #2,445 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A; Watch: 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.
• Zoned schools: Manatee Academy K-8 (math 53% / reading 51%, grade C-, #990 of 2,144 statewide, top 48%, 1,664 students, 65% FRL); Southern Oaks Middle School (math 39% / reading 43%, grade F, #353 of 571 statewide, top 63%, 894 students, 76% FRL); Fort Pierce Central High School (math 15% / reading 45%, grade F, #441 of 667 statewide, top 67%, 3,091 students, 62% FRL).
• Market conditions: 296 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• This rent runs 41% 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 $1k of loan paydown is wiped out by about $4k 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 $41k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 10y ago; this cycle's ask is 5702% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: 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 $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.49% ✓
• Cap rate: 13.36%
• Cash-on-cash: 25.23%
• DSCR: 2.12
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $144,557
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6531 Teresita Ct	0.11mi	2/2.0	1,403 (+4%)	1mo	$142,500	$102	88
14381 Amapola Cir	0.29mi	2/2.0	1,351 (0%)	7mo	$123,000	$91	81
6763 Mar Pacifico	0.41mi	2/2.0	1,451 (+7%)	4mo	$154,000	$106	65
14126 Cisne Cir	0.27mi	2/2.0	1,487 (+10%)	7mo	$150,000	$101	65
6713 Gaviota	0.34mi	2/2.0	1,420 (+5%)	16mo	$152,000	$107	62
14434 Azucena Ct	0.03mi	2/2.0	1,487 (+10%)	24mo	$170,000	$114	62
14892 Aguila Ave	0.46mi	1/1.5 (-1)	1,310 (-3%)	7mo	$259,000	$198	61
6655 Alemendra St	0.40mi	2/2.0	1,530 (+13%)	2mo	$175,000	$114	58

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: 18.7%
• Equity multiple: 1.76×
• Total profit: $30,813
• Equity at exit: $21,620

10-year hold

• IRR: 27.1%
• Equity multiple: 3.38×
• Total profit: $96,590
• Equity at exit: $12,537

Cash invested: $40,600 (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: 296
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,153 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$27 /mo · $320/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $854

Break-even live

Break-even rent $1,073

Max offer price $145,000

Occupancy floor 55%

Sensitivity live

Price	-10% $936	-5% $895	+0% $854	+5% $813	+10% $772
Rent	-10% $684	-5% $769	+0% $854	+5% $939	+10% $1,024
Rate	-1.0pp $927	-0.5pp $891	base $854	+0.5pp $816	+1.0pp $778

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6765 Spanish Lakes Blvd Fort Pierce, FL	2.0	2.0	1368	$2,500	$1.83	25d	1	0.39mi

Listing history 50 events

1. 2026-06-21
   days on market $145,000 Active 32 DOM
2. 2026-06-18
   days on market $145,000 Active 29 DOM
3. 2026-06-17
   days on market $145,000 Active 28 DOM
4. 2026-06-16
   days on market $145,000 Active 27 DOM
5. 2026-06-15
   days on market $145,000 Active 26 DOM
6. 2026-06-14
   days on market $145,000 Active 24 DOM
7. 2026-06-13
   days on market $145,000 Active 23 DOM
8. 2026-06-10
   days on market $145,000 Active 21 DOM
9. 2026-06-09
   days on market $145,000 Active 20 DOM
10. 2026-06-08
    days on market $145,000 Active 19 DOM
11. 2026-06-07
    days on market $145,000 Active 18 DOM
12. 2026-06-05
    days on market $145,000 Active 15 DOM
13. 2026-06-03
    days on market $145,000 Active 14 DOM
14. 2026-06-02
    days on market $145,000 Active 13 DOM
15. 2026-06-01
    days on market $145,000 Active 12 DOM
16. 2026-05-31
    days on market $145,000 Active 11 DOM
17. 2026-05-30
    days on market $145,000 Active 10 DOM
18. 2026-05-20
    listed $2,499
19. 2026-05-20
    listed $145,000 Active
20. 2026-05-19
    historical $2,499
21. 2026-05-08
    listed $2,499
22. 2026-05-08
    historical $2,499
23. 2026-03-25
    listed $2,499
24. 2026-03-25
    historical $2,499
25. 2026-03-14
    listed $2,499
26. 2026-03-14
    historical $2,499
27. 2026-01-01
    listed $2,499
28. 2026-01-01
    historical $2,499
29. 2025-12-31
    historical
30. 2025-12-21
    historical $2,499
31. 2025-12-18
    listed $2,499
32. 2025-11-29
    listed $2,499
33. 2025-11-28
    historical $2,499
34. 2025-11-16
    listed $2,499
35. 2025-06-17
    listed $164,999
36. 2023-07-26
    soldstatus $160,000 Closed 571-char remark

    Show marketing remark (571 chars)

    Beautiful, bright remodeled CBS home located in the PET Section of the desirable 55+ Community of Spanish Lakes Fairways. This spacious 2/2 home has a new A/C and metal roof installed in 2022. Granite Kitchen counters with new kitchen appliances updated in 2022. This community has many amenities including an 18-hole golf course, pickle ball, heated pool, tennis, and much more. You can take advantage of the club house or enjoy a relaxing even in your welcoming air-conditioned Florida Room. Make your appointment to see this home today. Buyer to verify measurements.

37. 2023-07-21
    status Pending 571-char remark

    Show marketing remark (571 chars)

    Beautiful, bright remodeled CBS home located in the PET Section of the desirable 55+ Community of Spanish Lakes Fairways. This spacious 2/2 home has a new A/C and metal roof installed in 2022. Granite Kitchen counters with new kitchen appliances updated in 2022. This community has many amenities including an 18-hole golf course, pickle ball, heated pool, tennis, and much more. You can take advantage of the club house or enjoy a relaxing even in your welcoming air-conditioned Florida Room. Make your appointment to see this home today. Buyer to verify measurements.

38. 2023-06-22
    historical Active Under Contract 571-char remark

    Show marketing remark (571 chars)

    Beautiful, bright remodeled CBS home located in the PET Section of the desirable 55+ Community of Spanish Lakes Fairways. This spacious 2/2 home has a new A/C and metal roof installed in 2022. Granite Kitchen counters with new kitchen appliances updated in 2022. This community has many amenities including an 18-hole golf course, pickle ball, heated pool, tennis, and much more. You can take advantage of the club house or enjoy a relaxing even in your welcoming air-conditioned Florida Room. Make your appointment to see this home today. Buyer to verify measurements.

39. 2023-05-25
    price $180,000 571-char remark

    Show marketing remark (571 chars)

    Beautiful, bright remodeled CBS home located in the PET Section of the desirable 55+ Community of Spanish Lakes Fairways. This spacious 2/2 home has a new A/C and metal roof installed in 2022. Granite Kitchen counters with new kitchen appliances updated in 2022. This community has many amenities including an 18-hole golf course, pickle ball, heated pool, tennis, and much more. You can take advantage of the club house or enjoy a relaxing even in your welcoming air-conditioned Florida Room. Make your appointment to see this home today. Buyer to verify measurements.

40. 2023-05-04
    listed $210,000 Active 571-char remark

    Show marketing remark (571 chars)

    Beautiful, bright remodeled CBS home located in the PET Section of the desirable 55+ Community of Spanish Lakes Fairways. This spacious 2/2 home has a new A/C and metal roof installed in 2022. Granite Kitchen counters with new kitchen appliances updated in 2022. This community has many amenities including an 18-hole golf course, pickle ball, heated pool, tennis, and much more. You can take advantage of the club house or enjoy a relaxing even in your welcoming air-conditioned Florida Room. Make your appointment to see this home today. Buyer to verify measurements.

41. 2018-04-19
    historical
42. 2018-04-19
    historical
43. 2017-11-20
    historical Contingent
44. 2017-11-20
    historical Contingent
45. 2017-10-24
    listed $79,900 Active
46. 2017-10-23
    listed $79,900 Active
47. 2017-07-09
    historical
48. 2017-04-21
    historical Contingent
49. 2017-04-18
    listed $79,900 Active
50. 2017-04-02
    historical

ⓘ 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: $320 · $27/mo
• Projected year-2 tax: $1,204 · $100/mo
• Expected delta: +$884/yr (+$74/mo · 276.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $25,840
• − Mortgage interest: −$8,122
• − Property taxes: −$320
• − Insurance: −$725
• − Repairs & maintenance: −$2,067
• − Management: −$2,067
• − Depreciation: −$4,218
• Taxable income: $8,321
• Est. tax owed @ 24.0%: −$1,997
• After-tax cash flow: $8,247/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 — Vero Beach South

• Score: 78/100
• State rank: #163
• US rank: #2445

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• 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

-96.9% since first listed

34 events — show timeline

• 2026-05-20 Listed for Rent $2,499 SHOWMOJO
• 2026-05-20 Listed $145,000 Beaches MLS
• 2026-05-19 Rental Removed $2,499 RMLSFL
• 2026-05-08 Listed for Rent $2,499 RMLSFL
• 2026-05-08 Rental Removed $2,499 GFLMLS
• 2026-03-25 Listed for Rent $2,499 GFLMLS
• 2026-03-25 Rental Removed $2,499 SHOWMOJO
• 2026-03-14 Listed for Rent $2,499 SHOWMOJO
• 2026-03-14 Rental Removed $2,499 GFLMLS
• 2026-01-01 Listed for Rent $2,499 GFLMLS
• 2026-01-01 Rental Removed $2,499 SHOWMOJO
• 2025-12-31 Listing Removed — Beaches MLS
• 2025-12-21 Rental Removed $2,499 GFLMLS
• 2025-12-18 Listed for Rent $2,499 GFLMLS
• 2025-11-29 Listed for Rent $2,499 SHOWMOJO
• 2025-11-28 Rental Removed $2,499 GFLMLS
• 2025-11-16 Listed for Rent $2,499 GFLMLS
• 2025-06-17 Listed $164,999 Beaches MLS
• 2023-07-26 Sold (MLS) $160,000 Beaches MLS
• 2023-07-21 Pending — Beaches MLS
• 2023-06-22 Contingent — Beaches MLS
• 2023-05-25 Price Changed $180,000 Beaches MLS
• 2023-05-04 Listed $210,000 Beaches MLS
• 2018-04-19 Delisted — RAIRCMLS
• 2018-04-19 Listing Removed — Beaches MLS
• 2017-11-20 Contingent — Beaches MLS
• 2017-11-20 Contingent — RAIRCMLS
• 2017-10-24 Listed $79,900 Beaches MLS
• 2017-10-23 Listed $79,900 RAIRCMLS
• 2017-07-09 Listing Removed — Beaches MLS
• 2017-04-21 Contingent — Beaches MLS
• 2017-04-18 Listed $79,900 Beaches MLS
• 2017-04-02 Listing Removed — Beaches MLS
• 2016-10-25 Listed $79,900 Beaches MLS

Property tax history

-1.5%/yr

Latest (2025): $320 · +4.1% YoY. Source: county tax records.