940 Savannas Point Dr Apt B · Fort Pierce, FL 34982

$115,000

2 bd · 2.0 ba · 1,296 sqft · Condo public records · 320 Days on market

Built 1981 $595/mo HOA · 32% 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 +13.8/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.4/5.0
• DSCR +4.2/10.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * * AVAILABLE FOR 3 MONTH SEASONAL RENTAL NOW AT $1600 PER MONTH!! This is one of the best locations in Section 3 High Point as it backs up to a canal of the Savannahs Nature Preserve. This condo has been furnished seasonal rental for many years & owner never lived in it. Flooring updated with laminate about 4 years ago. Some kitchen appliances have been replaced over the years, Stack washer/dryer in Laundry Room, Guest bedroom has a sofa bed. All the Furnishings and household items presently in condo will remain. Monthly association fee includes, water, sewer, trash pick-up, Cable TV, internet, 24-hour manned gate, Exterior maintenance on the building including roof (replaced in

Key facts

• Stack washer dryer
• 24 hour manned gate
• Exterior maintenance

Tags

• BACKS UP TO CANAL
• SAVANNAHS NATURE PRESERVE
• UPDATED FLOORING
• STACK WASHER DRYER
• 24 HOUR MANNED GATE
• EXTERIOR MAINTENANCE

Property features AI

Finance

• Other: Listing is Active Under Contract; Directions: US 1 to High Point Blvd, turn east past the guard. Turn left at Timberview Dr to Savannas Point Dr, 940 is on your left.
• Financial info: Pets not allowed; Community contains multiple units (community size: 812 units)
• HOA & community: Community association with monthly fee; Monthly HOA fee $595; Association covers cable TV, insurance, grounds maintenance, pest control, security, sewer, water, common areas, common real estate tax, and recreation facilities; Community amenities include clubhouse, pool, tennis courts, shuffleboard, bocce ball, billiard room, business center, courtesy bus, parking, and on-site manager; Senior community

Exterior

• Parking: Assigned parking; Guest parking; One open parking space
• Security: Gated community with guard; Closed-circuit cameras; Smoke detectors
• Utilities: Public water; Public sewer; Sewer available; Underground utilities; Water available
• Home design: Condominium villa; One story; Entry-level living area; Faces west; Resale condition
• Construction: Block/Concrete/CBS construction; Composition/fiberglass/shingle roof; Building constructed as villa; Building area approximately 1,296 sq. ft. (living area)
• Exterior features: Screened patio; Patio; Waterfront property; Paved road frontage; Private road access; East of US-1 location

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: One main-level bedroom
• Flooring: Ceramic tile; Laminate; Wood
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Central electric heating; Electric cooling; Ceiling fans
• Interior features: Entrance foyer; Walk-in closets; Split bedroom layout; Pull-down attic stairs; Furnished
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $10 ($120/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 3.7% in Fort Pierce — 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 76/100 on livability (#226 in FL, #3,360 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, schools D, 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.
• Market conditions: Rents rising fast (+7.4%/yr); 336 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 42% of the median local income ($54k/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 $795 of loan paydown is wiped out by about $3k 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 + 7.4% rent growth), your $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 320 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $41k; list at $115k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 320 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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?
9. 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.
10. 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.
11. 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: 1.64% ✓
• Cap rate: 6.40%
• Cash-on-cash: 0.37%
• DSCR: 1.02
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.42% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.73×
• Total profit: $-8,785
• Equity at exit: $17,147

10-year hold

• IRR: 10.3%
• Equity multiple: 2.07×
• Total profit: $34,390
• Equity at exit: $9,943

Cash invested: $32,200 (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 34982

• Home prices YoY: -33.4%
• Rents YoY: 7.4%
• Active inventory: 336
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,886 high
• Mortgage (P&I): −$603
• Tax from tax record: −$234 /mo · $2,808/yr
• Insurance: −$48
• HOA: −$595
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $10

Break-even live

Break-even rent $1,873

Max offer price $115,000

Occupancy floor 94%

Sensitivity live

Price	-10% $75	-5% $43	+0% $10	+5% $-23	+10% $-55
Rent	-10% $-139	-5% $-64	+0% $10	+5% $85	+10% $159
Rate	-1.0pp $68	-0.5pp $39	base $10	+0.5pp $-20	+1.0pp $-50

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1219 S Lakes End Dr Unit 2 Fort Pierce, FL	2.0	2.0	1186	$1,500	$1.26	15d	1	0.23mi
916 Savannas Point Dr Fort Pierce, FL	2.0	2.0	1120	$2,100	$1.88	15d	1	0.28mi
1829 Sandhill Crane Dr Unit B2 Fort Pierce, FL	2.0	2.0	1334	$2,000	$1.50	24d	1	0.56mi
1804 Blue Heron Ln Unit C Fort Pierce, FL	2.0	2.0	1286	$1,900	$1.48	24d	1	0.63mi
4166 Gator Trace Villas Cir Unit B Fort Pierce, FL	3.0	2.0	1336	$2,200	$1.65	24d	1	0.64mi
1772 N Dovetail Dr Unit C Fort Pierce, FL	2.0	2.0	1230	$2,100	$1.71	24d	1	0.66mi
1739 N Dovetail Dr Fort Pierce, FL	2.0	2.0	1230	$1,750	$1.42	24d	1	0.70mi
1747 N Dovetail Dr Unit A Fort Pierce, FL	2.0	2.0	1286	$2,100	$1.63	24d	1	0.71mi
4215 Gator Trace Ave Unit G Fort Pierce, FL	2.0	2.0	1200	$2,200	$1.83	24d	1	0.80mi
3200 S US Highway 1 Fort Pierce, FL	2.0–3.0	1.0–2.0	1144	$1,509	$1.32	15d	1	0.82mi
4210 Gator Trace Cir Fort Pierce, FL	2.0	2.0	1316	$2,100	$1.60	15d	1	1.02mi
802 N Lake Dr Unit B Fort Pierce, FL	2.0	1.0	1000	$1,550	$1.55	24d	1	1.07mi
3030 S US Highway 1 Fort Pierce, FL	3.0	2.0	1184	$1,774	$1.50	15d	1	1.08mi
928 Fra Mar Pl Fort Pierce, FL	3.0	1.0	1440	$2,000	$1.39	24d	1	1.09mi
800 Kanner Dr Unit B Fort Pierce, FL	2.0	1.0	900	$1,550	$1.72	15d	1	1.20mi
4003 Oleander Ave Fort Pierce, FL	3.0–4.0	2.0	1765	$2,748	$1.56	15d	1	1.49mi

HOA detail condo

• Monthly dues: $595 · $7,140/yr
• Likely covers: watersewertrashinternetcableexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-05
   statusdays on market $115,000 Pending 320 DOM
2. 2026-06-03
   days on market $115,000 Active Under Contract 319 DOM
3. 2026-06-02
   days on market $115,000 Active Under Contract 318 DOM
4. 2026-06-01
   days on market $115,000 Active Under Contract 317 DOM
5. 2026-05-31
   days on market $115,000 Active Under Contract 316 DOM
6. 2026-05-30
   days on market $115,000 Active Under Contract 315 DOM
7. 2026-04-13
   historical Active Under Contract
8. 2025-12-16
   price $115,000
9. 2025-07-19
   listed $139,800 Active
10. 1998-04-15
    soldstatus $41,000
11. 1981-02-01
    soldstatus $56,000

ⓘ 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: $2,808 · $234/mo
• Projected year-2 tax: $2,808 · $234/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,633
• − Mortgage interest: −$6,442
• − Property taxes: −$2,808
• − Insurance: −$575
• − Repairs & maintenance: −$1,811
• − Management: −$1,811
• − HOA: −$7,140
• − Depreciation: −$3,345
• Taxable loss: −$1,298
• Est. tax savings @ 24.0%: +$312
• After-tax cash flow: $432/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 — Fort Pierce

• Score: 76/100
• State rank: #226
• US rank: #3360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Pierce, FL
• County: Saint Lucie County · 337,150 people
• City population: 78,556
• Metro: Port St. Lucie, FL
• Population (ZIP): 31,143
• Household income: $54,082
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 1086.0

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: Majority White (62%)
• Race & ethnicity: White 62% Hispanic / Latino 22% Two or more races 12% Black 12%
• Hispanic origin (detail): Mexican 10% Puerto Rican 3% Cuban 3%
• Common ancestry: Italian 7% Hispanic 2% Lithuanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 80% English-only · Spanish 16% French/Haitian/Cajun 3%

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: ▼ -199.47%
• Current HPI: 397.2649
• Rent YoY: ▲ 7.42%
• 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

+105.4% since first listed

5 events — show timeline

• 2026-04-13 Contingent — Beaches MLS
• 2025-12-16 Price Changed $115,000 Beaches MLS
• 2025-07-19 Listed $139,800 Beaches MLS
• 1998-04-15 Sold (Public Records) $41,000 Public Records
• 1981-02-01 Sold (Public Records) $56,000 Public Records

Property tax history

+22.0%/yr

Latest (2025): $2,808 · +3.6% YoY. Source: county tax records.