700 Lake Orchid Cir #209 · Florida Ridge, FL 32962

$164,500

2 bd · 2.0 ba · 1,414 sqft · Condo public records · 67 Days on market

Built 1995 $565/mo HOA · 27% of rent

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Why this score? — see what drove the D 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 +11.1/30.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2nd floor End unit Fully Furnished & Turnkey, Impact windows & Repiped, Open & Bright Floorplan with extra windows, Cathedral ceilings, Located at the eastern corner of the Community near Pool, Clubhouse & Nature Trail! Updated Baths, Large Walk-in closet, Plantation shutters overlooking Serene Preserve area, Full size washer/dryer, Active community boasts 2 Pools/Clubhouses, Exercise Facility, Tennis, Kayak Launch & more! Move-in Ready!

Key facts

• Updated baths
• End unit
• Open floorplan

Tags

• END UNIT
• IMPACT WINDOWS
• REPIPED
• OPEN FLOORPLAN
• CATHEDRAL CEILINGS
• UPDATED BATHS

Property features AI

Finance

• Financial info: Pets allowed with possible number and size limits
• HOA & community: Has homeowners association; Monthly HOA fee of 565; HOA amenities include clubhouse, fitness center, jogging path, pool, shuffleboard court, tennis courts, recreation facilities, gated access, and security; HOA fee covers cable TV, grounds maintenance, security, sewer, trash, water, reserve funds, and recreation facility

Exterior

• Parking: Assigned parking; Detached carport (1 covered/carport space); 1 open parking space; Total 2 parking spaces
• Security: Gated community; Community security
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Phone available; Water connected; Sewer connected
• Home design: Condominium; One level; Faces west; Resale condition
• Construction: Block and concrete construction; Shingle roof; 2 total stories (unit on one level)
• Exterior features: Paved public road access; Gate and security fencing; Waterfront property

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: High ceilings; Walk-in closets; Split bedroom layout; Furnished
• Laundry & utility: Laundry inside the unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $164k.

Deal economics

• At list price, monthly cash flow is $-133 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (14.3% below list).
• Meets the 1% rule at list price ($2k rent vs $164k).
• Recommended offer: $141k (14.3% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 4.5% in Florida Ridge — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 72/100 on livability (#353 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, 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: Indian River Academy (math 53% / reading 50%, grade C-, #1,035 of 2,144 statewide, top 49%, 430 students, 81% 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 rising fast (+4.2%/yr); 348 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 38% 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.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 27% of rent.
• Climate carrying-cost: severe flood risk; 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 $140,919 (14.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.28% ✓
• Cap rate: 5.80%
• Cash-on-cash: -1.75%
• DSCR: 0.92
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.18% rent growth · sell at horizon

5-year hold

• IRR: -19.6%
• Equity multiple: 0.30×
• Total profit: $-32,200
• Equity at exit: $24,527

10-year hold

• IRR: -8.5%
• Equity multiple: 0.42×
• Total profit: $-26,613
• Equity at exit: $14,223

Cash invested: $46,060 (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 32962

• Rents YoY: 4.2%
• Active inventory: 348
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,101 high
• Mortgage (P&I): −$863
• Tax from tax record: −$230 /mo · $2,764/yr
• Insurance: −$69
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$565
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $-133

Break-even live

Break-even rent $2,270

Max offer price $140,919

Occupancy floor —

Sensitivity live

Price	-10% $-40	-5% $-87	+0% $-133	+5% $-180	+10% $-227
Rent	-10% $-299	-5% $-216	+0% $-133	+5% $-51	+10% $32
Rate	-1.0pp $-51	-0.5pp $-92	base $-133	+0.5pp $-176	+1.0pp $-219

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: $41,125
• Closing costs: $4,935
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
740 Lake Orchid Cir #109 Vero Beach, FL	2.0	2.0	1200	$2,000	$1.67	21d	1	0.05mi
720 Lake Orchid Cir #203 Vero Beach, FL	2.0	2.0	1414	$1,500	$1.06	21d	1	0.05mi
670 E Lake Jasmine Cir #106 Vero Beach, FL	2.0	2.0	1414	$2,750	$1.94	21d	1	0.06mi
655 W Lake Jasmine Cir #207 Vero Beach, FL	2.0	2.0	1213	$1,850	$1.53	14d	1	0.12mi
150 12th Pl SE Vero Beach, FL	3.0	2.0	1564	$2,900	$1.85	14d	1	0.29mi
254 Hawthorne Ln Vero Beach, FL	3.0	2.0	1703	$2,900	$1.70	21d	1	0.71mi
335 Hawthorne Ln Vero Beach, FL	2.0	2.0	1587	$1,800	$1.13	21d	1	0.74mi
2066 5th Ct SE Vero Beach, FL	2.0	2.0	1415	$3,850	$2.72	21d	1	0.95mi
16 Vista Palm Ln Vero Beach, FL	1.0–2.0	1.5–2.0	800	$1,700	$2.12	21d	2	1.28mi
2320 Water Oaks Ln Unit 111 Vero Beach, FL	3.0	2.0	1811	$3,500	$1.93	21d	1	1.37mi
36 Pine Arbor Ln Vero Beach, FL	2.0	2.0	1000	$1,550	$1.55	21d	2	1.38mi
37 Pine Arbor Ln #101 Vero Beach, FL	2.0	2.0	1000	$1,600	$1.60	14d	1	1.39mi

HOA detail condo

• Monthly dues: $565 · $6,780/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-19
   days on market $164,500 Active 67 DOM
2. 2026-06-18
   days on market $164,500 Active 66 DOM
3. 2026-06-17
   days on market $164,500 Active 65 DOM
4. 2026-06-16
   days on market $164,500 Active 64 DOM
5. 2026-06-15
   days on market $164,500 Active 63 DOM
6. 2026-06-14
   days on market $164,500 Active 61 DOM
7. 2026-06-13
   days on market $164,500 Active 60 DOM
8. 2026-06-10
   days on market $164,500 Active 58 DOM
9. 2026-06-09
   days on market $164,500 Active 57 DOM
10. 2026-06-08
    days on market $164,500 Active 56 DOM
11. 2026-06-07
    days on market $164,500 Active 55 DOM
12. 2026-06-05
    days on market $164,500 Active 52 DOM
13. 2026-06-03
    price $164,500 Active 50 DOM
14. 2026-06-02
    days on market $174,500 Active 50 DOM
15. 2026-06-01
    days on market $174,500 Active 49 DOM
16. 2026-05-31
    days on market $174,500 Active 48 DOM
17. 2026-05-30
    days on market $174,500 Active 47 DOM
18. 2026-04-12
    price $174,500 471-char remark

    Show marketing remark (471 chars)

    2nd floor End unit Fully Furnished & Turnkey, Impact windows & Repiped, Open & Bright Floorplan with extra windows, Cathedral ceilings, Located at the eastern corner of the Community near Pool, Clubhouse & Nature Trail! Updated Baths, Large Walk-in closet, Plantation shutters overlooking Serene Preserve area, Full size washer/dryer, Active community boasts 2 Pools/Clubhouses, Exercise Facility, Tennis, Kayak Launch & more! Move-in Ready!

19. 2026-04-12
    listed $174,500 Active

    Show marketing remark (471 chars)

    2nd floor End unit Fully Furnished & Turnkey, Impact windows & Repiped, Open & Bright Floorplan with extra windows, Cathedral ceilings, Located at the eastern corner of the Community near Pool, Clubhouse & Nature Trail! Updated Baths, Large Walk-in closet, Plantation shutters overlooking Serene Preserve area, Full size washer/dryer, Active community boasts 2 Pools/Clubhouses, Exercise Facility, Tennis, Kayak Launch & more! Move-in Ready!

20. 2026-03-19
    price $185,000 471-char remark

    Show marketing remark (471 chars)

    2nd floor End unit Fully Furnished & Turnkey, Impact windows & Repiped, Open & Bright Floorplan with extra windows, Cathedral ceilings, Located at the eastern corner of the Community near Pool, Clubhouse & Nature Trail! Updated Baths, Large Walk-in closet, Plantation shutters overlooking Serene Preserve area, Full size washer/dryer, Active community boasts 2 Pools/Clubhouses, Exercise Facility, Tennis, Kayak Launch & more! Move-in Ready!

21. 2026-01-02
    listed $199,000 Active 471-char remark

    Show marketing remark (471 chars)

    2nd floor End unit Fully Furnished & Turnkey, Impact windows & Repiped, Open & Bright Floorplan with extra windows, Cathedral ceilings, Located at the eastern corner of the Community near Pool, Clubhouse & Nature Trail! Updated Baths, Large Walk-in closet, Plantation shutters overlooking Serene Preserve area, Full size washer/dryer, Active community boasts 2 Pools/Clubhouses, Exercise Facility, Tennis, Kayak Launch & more! Move-in Ready!

22. 2004-07-23
    soldstatus $145,500
23. 1999-10-20
    soldstatus $97,000
24. 1995-11-07
    soldstatus $94,000

ⓘ 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: $2,764 · $230/mo
• Projected year-2 tax: $2,764 · $230/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $25,208
• − Mortgage interest: −$9,215
• − Property taxes: −$2,764
• − Insurance: −$1,620
• − Repairs & maintenance: −$2,017
• − Management: −$2,017
• − HOA: −$6,780
• − Depreciation: −$4,785
• Taxable loss: −$3,990
• Est. tax savings @ 24.0%: +$958
• After-tax cash flow: $-644/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 — Florida Ridge

• Score: 72/100
• State rank: #353
• US rank: #6129

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florida Ridge, FL
• County: Indian River County · 143,738 people
• City population: 25,629
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 25,522
• Household income: $66,664
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 425.0

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 (70%)
• Race & ethnicity: White 70% Black 13% Hispanic / Latino 12% Two or more races 5% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 4% Lithuanian 4% Italian 3%
• Foreign-born: 12% · Canada, Jamaica, Dominican Republic
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 2% 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: ▼ -182.13%
• Current HPI: 333.3274
• Rent YoY: ▲ 4.18%
• 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

Price history

+85.6% since first listed

7 events — show timeline

• 2026-04-12 Price Changed $174,500 RAIRCMLS
• 2026-04-12 Listed $174,500 Beaches MLS
• 2026-03-19 Price Changed $185,000 RAIRCMLS
• 2026-01-02 Listed $199,000 RAIRCMLS
• 2004-07-23 Sold (Public Records) $145,500 Public Records
• 1999-10-20 Sold (Public Records) $97,000 Public Records
• 1995-11-07 Sold (Public Records) $94,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $2,764 · +5.7% YoY. Source: county tax records.