5610 Hemingway Ct #5 · Indian River Estates, FL 34982

$70,000

2 bd · 2.0 ba · 960 sqft · Manufactured · 80 Days on market

Built 1989 Fair condition 5,663 sqft lot ↓ 21% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.4/5.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Waterfront mobile with 2 bedrooms and 2 baths. Metal roof in 2022 and A/C in 2018. Back patio over looks the pond. HOA includes lawn and trash along with the club house with a pool and hot tub. Tennis and pickleball! Lots of get togethers in the club house.

Key facts

• Metal roof
• Hot tub
• Shuffle board

Tags

• WATERFRONT
• METAL ROOF
• BACK PORCH
• HEATED POOL
• HOT TUB
• SHUFFLE BOARD

Property features AI

Finance

• Other: Senior community; Pets allowed with size/number limits
• Financial info: Land lease in place with a monthly rent (land lease expires 2027-05-15)
• HOA & community: Association with monthly fee; Community amenities include clubhouse, pool (heated), spa/hot tub, tennis courts, pickleball court, shuffleboard court, recreation facilities, library, kitchen facilities

Exterior

• Parking: Attached carport with 2 covered spaces
• Utilities: Public water; Public sewer; Sewer connected; Water connected; Cable available; Electric service noted
• Home design: Manufactured home (double wide); One story; North-facing
• Construction: Vinyl siding; Metal roof; Model: Palm; Mobile dimensions approximately 40' x 28'; Resale condition; Built as a manufactured/mobile home
• Exterior features: Waterfront property; Aluminum skirting

Interior

• Kitchen: Refrigerator; Electric cooktop
• Bedrooms: One bedroom on the main level
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms (one on the main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Cathedral ceilings; Kitchen island; French doors
• Laundry & utility: Laundry closet; Laundry located in the kitchen; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $70k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 23.9% vs local median 5.3% in Indian River Estates — 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 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+, schools F, 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $484 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

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 $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.74% ✓
• Cap rate: 23.94%
• Cash-on-cash: 63.02%
• DSCR: 3.80
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $156,480
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 Old Key West Pl	0.26mi	2/2.0	826 (-14%)	24mo	$134,900	$163	45

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: 67.0%
• Equity multiple: 4.22×
• Total profit: $63,146
• Equity at exit: $10,437

10-year hold

• IRR: 72.6%
• Equity multiple: 10.16×
• Total profit: $179,530
• Equity at exit: $6,052

Cash invested: $19,600 (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 34982

• Home prices YoY: -33.4%
• Rents YoY: 7.4%
• Active inventory: 336
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,915 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $1,029

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 41%

Sensitivity live

Price	-10% $1,078	-5% $1,054	+0% $1,029	+5% $1,005	+10% $981
Rent	-10% $878	-5% $954	+0% $1,029	+5% $1,105	+10% $1,181
Rate	-1.0pp $1,065	-0.5pp $1,047	base $1,029	+0.5pp $1,011	+1.0pp $993

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5306 Pinetree Dr Fort Pierce, FL	1.0	1.0	600	$1,200	$2.00	24d	1	0.54mi
355 Johnston St Fort Pierce, FL	3.0	1.5	1118	$2,500	$2.24	24d	1	0.65mi
352 Johnston St Fort Pierce, FL	3.0	2.0	936	$2,100	$2.24	24d	1	0.68mi
699 W Weatherbee Rd Fort Pierce, FL	2.0	1.5	1100	$1,875	$1.70	24d	1	1.35mi

Listing history 22 events

1. 2026-06-18
   days on market $70,000 Active 80 DOM
2. 2026-06-17
   days on market $70,000 Active 79 DOM
3. 2026-06-16
   days on market $70,000 Active 78 DOM
4. 2026-06-15
   days on market $70,000 Active 77 DOM
5. 2026-06-14
   days on market $70,000 Active 75 DOM
6. 2026-06-13
   days on market $70,000 Active 74 DOM
7. 2026-06-10
   days on market $70,000 Active 72 DOM
8. 2026-06-09
   days on market $70,000 Active 71 DOM
9. 2026-06-08
   days on market $70,000 Active 70 DOM
10. 2026-06-07
    days on market $70,000 Active 69 DOM
11. 2026-06-05
    days on market $70,000 Active 66 DOM
12. 2026-06-03
    days on market $70,000 Active 65 DOM
13. 2026-06-02
    days on market $70,000 Active 64 DOM
14. 2026-06-01
    days on market $70,000 Active 63 DOM
15. 2026-05-31
    days on market $70,000 Active 62 DOM
16. 2026-05-30
    days on market $70,000 Active 61 DOM
17. 2026-03-30
    listed $70,000 Active
18. 2025-03-24
    soldstatus $70,000 Closed 260-char remark

    Show marketing remark (260 chars)

    Waterfront mobile with 2 bedrooms and 2 baths. Metal roof in 2022 and A/C in 2018. Back patio over looks the pond. HOA includes lawn and trash along with the club house with a pool and hot tub. Tennis and pickleball! Lots of get togethers in the club house.

19. 2025-01-28
    status Pending 260-char remark

    Show marketing remark (260 chars)

    Waterfront mobile with 2 bedrooms and 2 baths. Metal roof in 2022 and A/C in 2018. Back patio over looks the pond. HOA includes lawn and trash along with the club house with a pool and hot tub. Tennis and pickleball! Lots of get togethers in the club house.

20. 2025-01-04
    price $81,900 260-char remark

    Show marketing remark (260 chars)

    Waterfront mobile with 2 bedrooms and 2 baths. Metal roof in 2022 and A/C in 2018. Back patio over looks the pond. HOA includes lawn and trash along with the club house with a pool and hot tub. Tennis and pickleball! Lots of get togethers in the club house.

21. 2024-11-13
    price $84,900 260-char remark

    Show marketing remark (260 chars)

    Waterfront mobile with 2 bedrooms and 2 baths. Metal roof in 2022 and A/C in 2018. Back patio over looks the pond. HOA includes lawn and trash along with the club house with a pool and hot tub. Tennis and pickleball! Lots of get togethers in the club house.

22. 2024-10-01
    listed $89,000 Active 260-char remark

    Show marketing remark (260 chars)

    Waterfront mobile with 2 bedrooms and 2 baths. Metal roof in 2022 and A/C in 2018. Back patio over looks the pond. HOA includes lawn and trash along with the club house with a pool and hot tub. Tennis and pickleball! Lots of get togethers in the club house.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $22,985
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,839
• − Management: −$1,839
• − Depreciation: −$2,036
• Taxable income: $11,950
• Est. tax owed @ 24.0%: −$2,868
• After-tax cash flow: $9,485/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

The home requires moderate repairs and updates to improve its condition and value. Key areas for improvement include the kitchen, bathroom, and exterior paint. Upgrades in these areas would significantly enhance its resale and rental potential.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — basic and dated
• Moderate exterior paint — some wear

Value-add opportunities

• Resale update kitchen cabinets and fixtures — modernizing the kitchen would attract more buyers
• Resale paint interior walls — fresh paint enhances curb appeal
• Resale repair exterior paint — improves home's appearance and value
• Resale update bathroom fixtures — modernizing the bathroom would attract more buyers
• Both landscaping — improves curb appeal and adds value
• Rental HVAC maintenance — ensures comfort and attracts renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom fixtures · basic and dated	Minor	$500–3,000
exterior paint · some wear	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Resale update kitchen cabinets and fixtures — modernizing the kitchen would attract more buyers ↑
• Resale paint interior walls — fresh paint enhances curb appeal ↑
• Resale repair exterior paint — improves home's appearance and value ↑
• Resale update bathroom fixtures — modernizing the bathroom would attract more buyers ↑
• Both landscaping — improves curb appeal and adds value ↑
• Rental HVAC maintenance — ensures comfort and attracts renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-21.3% since first listed

6 events — show timeline

• 2026-03-30 Listed $70,000 Beaches MLS
• 2025-03-24 Sold (MLS) $70,000 Beaches MLS
• 2025-01-28 Pending — Beaches MLS
• 2025-01-04 Price Changed $81,900 Beaches MLS
• 2024-11-13 Price Changed $84,900 Beaches MLS
• 2024-10-01 Listed $89,000 Beaches MLS