11 Vista Palm Ln #204 · Florida Ridge, FL 32962

$110,000

1 bd · 1.0 ba · 630 sqft · Condo public records · 34 Days on market

Built 1974 $446/mo HOA · 31% 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 +11.9/30.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• DSCR +3.5/10.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

55+ community Amazing condo that has been completely updated. Fixtures, cabinets, itchen flooring, ceiling fans and lighting. AC replace in 2019. Screened lanai with roll up hurricane shutter. Turn key. Owner agent.

Key facts

• Newer ac unit
• Heated pools
• Fitness center

Tags

• NEW HOT WATER HEATER
• NEWER AC UNIT
• 27-HOLE GOLF COURSE
• 4 CLUBHOUSES
• HEATED POOLS
• FITNESS CENTER

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Homeowners association with monthly fee; HOA includes cable TV, internet, golf, legal/accounting, pest control, reserve fund, and street lights; Community amenities include clubhouse, fitness center, golf course, pool, tennis courts, pickleball, racquetball, putting greens, billiards, park and management; Located in a senior community; 1,624 units in the community

Exterior

• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available; High-speed internet available
• Home design: Condo / apartment (entry level: 2); Faces south; Resale property
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: North exposure; Has a view; Community pool

Interior

• Kitchen: Electric cooktop; Range; Self-cleaning oven; Microwave; Refrigerator
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Single hung windows with shutters; Family/Dining room; Living/Dining room; Pantry; Tub with shower
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $-94 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $93k (15.2% below list).
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $93k (15.2% below list) — sets the bar for cash-flow.
• Cap rate 6.0% vs local median 4.5% in Florida Ridge — 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 72/100 on livability (#353 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D, employment D, amenities F.
• 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.
• Market conditions: Rents rising fast (+4.2%/yr); 348 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k 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 34 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $15k (12%) 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 31% 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 $93,321 (15.2% 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 34 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
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: 1.32% ✓
• Cap rate: 5.99%
• Cash-on-cash: -1.09%
• DSCR: 0.95
• GRM: 6.3

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: -19.9%
• Equity multiple: 0.29×
• Total profit: $-21,780
• Equity at exit: $16,401

10-year hold

• IRR: -8.6%
• Equity multiple: 0.41×
• Total profit: $-18,102
• Equity at exit: $9,511

Cash invested: $30,800 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,450 high
• Mortgage (P&I): −$577
• Tax from tax record: −$105 /mo · $1,256/yr
• Insurance: −$46
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$446
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $-94

Break-even live

Break-even rent $1,569

Max offer price $93,321

Occupancy floor —

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19 Pine Arbor Ln #105 Vero Beach, FL	1.0	1.5	750	$1,800	$2.40	21d	1	0.11mi
28 Pine Arbor Ln #103 Vero Beach, FL	1.0	1.5	750	$1,200	$1.60	21d	1	0.14mi
16 Vista Palm Ln Vero Beach, FL	1.0–2.0	1.5–2.0	800	$1,500	$1.88	21d	2	0.14mi
5 Vista Palm Ln #203 Vero Beach, FL	1.0	1.5	750	$1,500	$2.00	13d	1	0.14mi
60 Woodland Dr Vero Beach, FL	1.0	1.0	630	$1,125	$1.79	21d	1	0.44mi
60 Woodland Dr #204 Vero Beach, FL	1.0	1.0	630	$1,250	$1.98	13d	1	0.44mi
50 Woodland Dr #203 Vero Beach, FL	1.0	1.5	750	$1,350	$1.80	13d	1	0.44mi
52 Woodland Dr #204 Vero Beach, FL	1.0	1.0	630	$1,300	$2.06	21d	1	0.48mi
85 Crooked Tree Ln #203 Vero Beach, FL	1.0	1.5	750	$1,450	$1.93	21d	1	0.57mi
74 Royal Oak Ct #204 Vero Beach, FL	1.0	1.0	630	$1,175	$1.87	21d	1	0.62mi
95 Spring Lake Dr #103 Vero Beach, FL	1.0	1.5	750	$1,600	$2.13	21d	1	0.70mi
101 Spring Lake Dr #204 Vero Beach, FL	1.0	1.0	630	$1,275	$2.02	21d	1	0.70mi
102 Royal Oak Dr #105 Vero Beach, FL	1.0	1.5	750	$1,550	$2.07	21d	1	0.74mi
15 Vista Gardens Trl #104 Vero Beach, FL	1.0	1.0	630	$1,300	$2.06	13d	1	1.00mi
43 Vista Gardens Trl #205 Vero Beach, FL	1.0	1.5	750	$1,450	$1.93	21d	1	1.13mi
23 Vista Gardens Trl #203 Vero Beach, FL	1.0	1.5	750	$1,500	$2.00	21d	1	1.17mi
26 Vista Gardens Trl #203 Vero Beach, FL	1.0	1.5	750	$1,350	$1.80	21d	1	1.26mi
33 Vista Gardens Trl #104 Vero Beach, FL	1.0	1.0	630	$1,500	$2.38	13d	1	1.28mi
441 7th Pl #441 Vero Beach, FL	1.0	1.0	550	$1,250	$2.27	21d	1	1.43mi
462 7th Pl Vero Beach, FL	1.0	1.0	550	$1,400	$2.55	21d	1	1.46mi
522 7th Pl Unit 522 Vero Beach, FL	1.0	1.0	550	$1,500	$2.73	21d	1	1.48mi

HOA detail condo

• Monthly dues: $446 · $5,352/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-19
   days on market $110,000 Active 34 DOM
2. 2026-06-18
   days on market $110,000 Active 33 DOM
3. 2026-06-17
   days on market $110,000 Active 32 DOM
4. 2026-06-16
   days on market $110,000 Active 31 DOM
5. 2026-06-15
   days on market $110,000 Active 30 DOM
6. 2026-06-14
   days on market $110,000 Active 28 DOM
7. 2026-06-13
   pricedays on market $110,000 Active 27 DOM
8. 2026-06-10
   days on market $125,000 Active 25 DOM
9. 2026-06-09
   days on market $125,000 Active 24 DOM
10. 2026-06-08
    days on market $125,000 Active 23 DOM
11. 2026-06-07
    days on market $125,000 Active 22 DOM
12. 2026-06-05
    days on market $125,000 Active 19 DOM
13. 2026-06-02
    days on market $125,000 Active 17 DOM
14. 2026-06-01
    days on market $125,000 Active 16 DOM
15. 2026-05-31
    days on market $125,000 Active 15 DOM
16. 2026-05-30
    days on market $125,000 Active 14 DOM
17. 2026-05-16
    listed $125,000 Active
18. 2022-03-03
    soldstatus $114,500
19. 2022-02-28
    soldstatus $114,500 Closed 215-char remark

    Show marketing remark (215 chars)

    55+ community Amazing condo that has been completely updated. Fixtures, cabinets, itchen flooring, ceiling fans and lighting. AC replace in 2019. Screened lanai with roll up hurricane shutter. Turn key. Owner agent.

20. 2022-01-29
    historical Active Under Contract 215-char remark

    Show marketing remark (215 chars)

    55+ community Amazing condo that has been completely updated. Fixtures, cabinets, itchen flooring, ceiling fans and lighting. AC replace in 2019. Screened lanai with roll up hurricane shutter. Turn key. Owner agent.

21. 2022-01-24
    price $112,500 215-char remark

    Show marketing remark (215 chars)

    55+ community Amazing condo that has been completely updated. Fixtures, cabinets, itchen flooring, ceiling fans and lighting. AC replace in 2019. Screened lanai with roll up hurricane shutter. Turn key. Owner agent.

22. 2022-01-21
    listed $115,000 Active 215-char remark

    Show marketing remark (215 chars)

    55+ community Amazing condo that has been completely updated. Fixtures, cabinets, itchen flooring, ceiling fans and lighting. AC replace in 2019. Screened lanai with roll up hurricane shutter. Turn key. Owner agent.

23. 2022-01-18
    listed $115,000 Active
24. 2021-07-01
    soldstatus $55,000
25. 2019-10-21
    historical
26. 2019-03-18
    listed $66,000 Active
27. 2006-02-16
    soldstatus $86,300
28. 2003-09-02
    soldstatus $43,500

ⓘ 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: $1,256 · $105/mo
• Projected year-2 tax: $1,256 · $105/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 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: $17,399
• − Mortgage interest: −$6,162
• − Property taxes: −$1,256
• − Insurance: −$1,348
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − HOA: −$5,352
• − Depreciation: −$3,200
• Taxable loss: −$2,703
• Est. tax savings @ 24.0%: +$649
• After-tax cash flow: $-484/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

+187.4% since first listed

12 events — show timeline

• 2026-05-16 Listed $125,000 FORTMLS
• 2022-03-03 Sold (Public Records) $114,500 Public Records
• 2022-02-28 Sold (MLS) $114,500 RAIRCMLS
• 2022-01-29 Contingent — RAIRCMLS
• 2022-01-24 Price Changed $112,500 RAIRCMLS
• 2022-01-21 Listed $115,000 RAIRCMLS
• 2022-01-18 Listed $115,000 RAIRCMLS
• 2021-07-01 Sold (Public Records) $55,000 Public Records
• 2019-10-21 Delisted — RAIRCMLS
• 2019-03-18 Listed $66,000 RAIRCMLS
• 2006-02-16 Sold (Public Records) $86,300 Public Records
• 2003-09-02 Sold (Public Records) $43,500 Public Records

Property tax history

+14.8%/yr

Latest (2025): $1,256 · +931.5% YoY. Source: county tax records.