6105 Spruce Dr · Indian River Estates, FL 34982

$310,000

3 bd · 2.0 ba · 1,282 sqft · SingleFamily public records · 20 Days on market

Built 1988 10,000 sqft lot Est $305k · at est.

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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 +13.6/30.0
• ARV discount +6.8/15.0
• Rent growth +4.4/5.0
• DSCR +4.1/10.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

FRESHLY PAINTED, NEW CARPET, CEILING FANS, ALL APPLIANCES INCLUDED & GREAT HOME READY TO MOVE IN. MANY EXTRAS, SOME APPLIANCES WITH EXENTED WARRANTY.

Key facts

• New metal roof
• Walk-in shower
• 0.23 acre lot

Tags

• WOOD-LOOK TILE FLOORING
• OVERSIZED LAUNDRY ROOM
• WALK-IN SHOWER
• FULLY FENCED BACKYARD
• ACCORDION HURRICANE SHUTTERS
• NEW METAL ROOF

Property features AI

Finance

• Other: Pets allowed (possible limits and restrictions)

Exterior

• Parking: Attached garage (1 car) with covered parking; Driveway; Aggregate and concrete surfaces; Boat access/parking; Total parking for 4 vehicles
• Utilities: Public water; Septic tank sewer; Electricity available; Cable available; Phone available
• Home design: Single-family residence; One story; Resale property; Faces east; Located east of US-1
• Construction: Stone veneer and stone accents; Wood siding and wood frame construction; Metal roof; Slab foundation; Built on a lot approximately 80 x 125
• Exterior features: Open patio and open porch; Patio and porch; Back yard fencing with chain link and gate; Room for a pool; Landscaped yard; Asphalt road frontage (publicly maintained)

Interior

• Kitchen: Dishwasher; Electric range / electric cooktop; Microwave; Refrigerator; Electric water heater (owned)
• Bedrooms: Three bedrooms on the main level
• Flooring: Tile; Wood
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central electric heating; Central electric air conditioning; Ceiling fans
• Interior features: Walk-in closets; Stacked bedroom layout
• Laundry & utility: Inside laundry room; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $310k.

Deal economics

• At list price, monthly cash flow is $17 ($199/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (24.2% below list).
• Recommended offer: $235k (24.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#653 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D+, amenities F, commute 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: Northport K-8 School (math 38% / reading 41%, grade F, #1,513 of 2,144 statewide, top 73%, 1,223 students, 76% FRL); Southern Oaks Middle School (math 39% / reading 43%, grade F, #353 of 571 statewide, top 63%, 894 students, 76% FRL); Port St. Lucie High School (math 21% / reading 43%, grade F, #415 of 667 statewide, top 63%, 1,748 students, 67% FRL).
• Market conditions: Rents rising fast (+7.4%/yr); 336 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• At $2,348/mo this rent would consume 52% of the median local household income ($54k/yr) (locally 1086% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($305k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $68k; list at $310k implies a 356% gain — meaningful room to come down on a strong offer.

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 $234,830 (24.2% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.76% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.23%
• DSCR: 1.01
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $305,116
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6115 Papaya Dr	0.25mi	3/2.0	1,242 (-3%)	8mo	$340,000	$274	76
6004 Bamboo Dr	0.19mi	3/2.0	1,275 (-0%)	19mo	$299,900	$235	74
5902 Yucca Dr	0.42mi	3/2.0	1,291 (+1%)	13mo	$356,000	$276	69
5717 Birch Dr	0.50mi	3/2.0	1,246 (-3%)	8mo	$225,000	$181	65
5909 Seagrape Dr	0.51mi	3/2.0	1,193 (-7%)	2mo	$316,500	$265	63
5707 Sunset Blvd	0.51mi	2/2.0 (-1)	1,218 (-5%)	8mo	$230,000	$189	56
6103 Sunset Blvd	0.18mi	3/2.0	1,121 (-13%)	18mo	$346,000	$309	56
6103 Palm Dr	0.36mi	2/2.0 (-1)	1,188 (-7%)	20mo	$270,000	$227	50
5802 Tangelo Dr	0.37mi	3/2.0	1,428 (+11%)	23mo	$340,000	$238	45
5607 Cassia Dr	0.60mi	2/1.0 (-1)	1,104 (-14%)	7mo	$125,000	$113	34

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 · 7.42% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.56×
• Total profit: $-38,420
• Equity at exit: $46,222

10-year hold

• IRR: 2.3%
• Equity multiple: 1.19×
• Total profit: $16,334
• Equity at exit: $26,803

Cash invested: $86,800 (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 34982

• Home prices YoY: -33.4%
• Rents YoY: 7.4%
• Active inventory: 336
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,348 medium
• Mortgage (P&I): −$1,626
• Tax from tax record: −$84 /mo · $1,005/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $17

Break-even live

Break-even rent $2,327

Max offer price $310,000

Occupancy floor 94%

Sensitivity live

Price	-10% $192	-5% $104	+0% $17	+5% $-71	+10% $-159
Rent	-10% $-169	-5% $-76	+0% $17	+5% $109	+10% $202
Rate	-1.0pp $173	-0.5pp $95	base $17	+0.5pp $-64	+1.0pp $-145

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6113 Yucca Dr Fort Pierce, FL	4.0	2.0	1638	$2,450	$1.50	25d	1	0.33mi
5315 Hickory Dr Fort Pierce, FL	3.0	2.0	1400	$2,045	$1.46	25d	1	0.92mi
5300 Seagrape Dr Fort Pierce, FL	3.0	2.0	1300	$2,450	$1.88	25d	1	1.08mi

Listing history 9 events

1. 2026-05-10
   status Pending
2. 2026-04-23
   status Active
3. 2026-04-20
   status Pending
4. 2026-04-13
   listed $310,000 Active
5. 1999-12-22
   soldstatus $68,000 153-char remark

   Show marketing remark (153 chars)

   FRESHLY PAINTED, NEW CARPET, CEILING FANS, ALL APPLIANCES INCLUDED & GREAT HOME READY TO MOVE IN. MANY EXTRAS, SOME APPLIANCES WITH EXENTED WARRANTY.

6. 1999-12-22
   soldstatus $68,000

   Show marketing remark (153 chars)

   FRESHLY PAINTED, NEW CARPET, CEILING FANS, ALL APPLIANCES INCLUDED & GREAT HOME READY TO MOVE IN. MANY EXTRAS, SOME APPLIANCES WITH EXENTED WARRANTY.

7. 1999-11-06
   historical 153-char remark

   Show marketing remark (153 chars)

   FRESHLY PAINTED, NEW CARPET, CEILING FANS, ALL APPLIANCES INCLUDED & GREAT HOME READY TO MOVE IN. MANY EXTRAS, SOME APPLIANCES WITH EXENTED WARRANTY.

8. 1999-03-01
   listed $69,000 153-char remark

   Show marketing remark (153 chars)

   FRESHLY PAINTED, NEW CARPET, CEILING FANS, ALL APPLIANCES INCLUDED & GREAT HOME READY TO MOVE IN. MANY EXTRAS, SOME APPLIANCES WITH EXENTED WARRANTY.

9. 1988-04-01
   soldstatus $55,000

ⓘ 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: $1,005 · $84/mo
• Projected year-2 tax: $2,573 · $214/mo
• Expected delta: +$1,568/yr (+$131/mo · 156.1%)

ⓘ 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 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,180
• − Mortgage interest: −$17,365
• − Property taxes: −$1,005
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,254
• − Management: −$2,254
• − Depreciation: −$9,018
• Taxable loss: −$5,267
• Est. tax savings @ 24.0%: +$1,264
• After-tax cash flow: $1,463/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 — Indian River Estates

• Score: 65/100
• State rank: #653
• US rank: #12946

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indian River Estates, FL
• County: Saint Lucie County · 337,150 people
• City population: 27,447
• 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

+463.6% since first listed

9 events — show timeline

• 2026-05-10 Pending — Beaches MLS
• 2026-04-23 Relisted — Beaches MLS
• 2026-04-20 Pending — Beaches MLS
• 2026-04-13 Listed $310,000 Beaches MLS
• 1999-12-22 Sold (Public Records) $68,000 Public Records
• 1999-12-22 Sold (MLS) $68,000 Beaches MLS
• 1999-11-06 Listing Removed — Beaches MLS
• 1999-03-01 Listed $69,000 Beaches MLS
• 1988-04-01 Sold (Public Records) $55,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,005 · +10.3% YoY. Source: county tax records.