519 Ponderosa Dr #43 · Indian River Estates, FL 34982

$168,900

2 bd · 2.0 ba · 1,233 sqft · Condo · 72 Days on market

Built 1985 Good condition $435/mo HOA · 20% of rent ↓ 8% since listing

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Why this score? — see what drove the C- 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 +15.8/30.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• Rent growth +4.4/5.0
• Condition / age +3.8/5.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Aggressively priced end-unit waterfront condo offering serene lake views & endless potential. Tiled front entry welcomes you with landscaping ready to be customized to your desire. Featuring partially updated kitchens & bathrooms, this home includes an oversized Florida room filled with lots of natural light, perfect for relaxing while listening to the soothing sounds of the lake's fountain. Washer & dryer conveniently located in unit. AC 2016, HWH 2023. A fantastic opportunity to enjoy waterfront living at an exceptional value. Gated & guarded community with low county only taxes. HOA fees includes cable, internet, water & sewer. The Grove features a heated p

Key facts

• $435 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets allowed with number and size limits; Community contains 144 units
• HOA & community: Association: The Grove; Monthly association fee; Association amenities include clubhouse, heated pool, pool, tennis courts, pickleball and shuffleboard courts, bocce ball, billiard room, community room, recreation facilities, management/manager on site, gated security, street lights, parking, internet included; Association fee covers cable TV, insurance, internet, grounds and structure maintenance, security, sewer, trash, water, common real estate tax, reserve funds, roof repairs, recreation facility and pool service

Exterior

• Parking: Assigned parking; Guest parking; 4 open parking spaces (1 total assigned/allocated space listed)
• Security: Gated community with guard; Security guard onsite; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; Electricity available; Sewer connected; Water connected
• Home design: Condominium; One story; Resale condition; Faces north
• Construction: Built with block/concrete/CB S and stucco; Shingle roof; Slab foundation
• Exterior features: Private maintained road; Waterfront

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fan(s)
• Interior features: Entrance foyer; Walk-in closet(s); Split bedroom layout; Furnished
• Laundry & utility: Laundry closet inside the unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $169k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $76 ($910/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $159k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 5.3% in Indian River Estates — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $2,124/mo this rent would consume 47% 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 $1k of loan paydown is wiped out by about $5k 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 $47k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($159k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,766 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% 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 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?
7. 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.
8. 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.
9. 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: 1.26% ✓
• Cap rate: 6.83%
• Cash-on-cash: 1.92%
• DSCR: 1.09
• GRM: 6.6

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: -6.7%
• Equity multiple: 0.74×
• Total profit: $-12,375
• Equity at exit: $25,184

10-year hold

• IRR: 9.0%
• Equity multiple: 1.87×
• Total profit: $41,018
• Equity at exit: $14,603

Cash invested: $47,292 (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: 6.6×

Monthly cashflow live

• Estimated rent: $2,124 high
• Mortgage (P&I): −$886
• Tax est. 1.5%: −$211 /mo · $2,534/yr
• Insurance: −$70
• HOA: −$435
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $76

Break-even live

Break-even rent $2,028

Max offer price $168,900

Occupancy floor 91%

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: $42,225
• Closing costs: $5,067
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
492 Salisbury Cir Fort Pierce, FL	3.0	2.5	1486	$2,395	$1.61	23d	1	0.65mi
203 Melton Dr Unit B Fort Pierce, FL	2.0	1.0	1200	$1,800	$1.50	23d	1	0.66mi
526 Salisbury Cir Fort Pierce, FL	3.0	2.5	1486	$2,399	$1.61	13d	1	0.66mi
341 Ashley St Fort Pierce, FL	3.0	2.0	1128	$2,460	$2.18	23d	1	0.81mi
355 Johnston St Fort Pierce, FL	3.0	1.5	1118	$2,500	$2.24	23d	1	0.86mi
352 Johnston St Fort Pierce, FL	3.0	2.0	936	$2,100	$2.24	23d	1	0.89mi
5300 Seagrape Dr Fort Pierce, FL	3.0	2.0	1300	$2,450	$1.88	23d	1	0.90mi
330 Borraclough St Fort Pierce, FL	3.0	2.0	1404	$2,175	$1.55	13d	1	0.94mi
5315 Hickory Dr Fort Pierce, FL	3.0	2.0	1400	$2,045	$1.46	23d	1	1.02mi

HOA detail condo

• Monthly dues: $435 · $5,220/yr
• Likely covers: watersewerinternetcablelandscapingsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $168,900 Active 72 DOM
2. 2026-06-17
   days on market $168,900 Active 71 DOM
3. 2026-06-16
   days on market $168,900 Active 70 DOM
4. 2026-06-15
   days on market $168,900 Active 69 DOM
5. 2026-06-14
   days on market $168,900 Active 67 DOM
6. 2026-06-13
   days on market $168,900 Active 66 DOM
7. 2026-06-10
   days on market $168,900 Active 64 DOM
8. 2026-06-09
   days on market $168,900 Active 63 DOM
9. 2026-06-08
   days on market $168,900 Active 62 DOM
10. 2026-06-07
    days on market $168,900 Active 61 DOM
11. 2026-06-05
    days on market $168,900 Active 58 DOM
12. 2026-06-03
    days on market $168,900 Active 57 DOM
13. 2026-06-02
    days on market $168,900 Active 56 DOM
14. 2026-06-01
    days on market $168,900 Active 55 DOM
15. 2026-05-31
    days on market $168,900 Active 54 DOM
16. 2026-05-30
    remarks 679-char remark
17. 2026-05-30
    pricedays on market $168,900 Active 53 DOM
18. 2026-05-02
    price $174,900
19. 2026-04-07
    listed $189,700 Active

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 25 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: $25,489
• − Mortgage interest: −$9,461
• − Property taxes: −$2,534
• − Insurance: −$844
• − Repairs & maintenance: −$2,039
• − Management: −$2,039
• − HOA: −$5,220
• − Depreciation: −$4,913
• Taxable loss: −$1,562
• Est. tax savings @ 24.0%: +$375
• After-tax cash flow: $1,284/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

Good 75/100 Cosmetic rehab

This waterfront condo is in good condition with a good condition score of 75. It has a good exterior, kitchen, and bathrooms. The property has a good foundation and structure, and the HVAC and mechanical systems are up to date. The property has a good roof and windows. The property has a good landscaping and curb appeal. The property has a good foundation and structure, and the HVAC and mechanical systems are up to date. The property has a good roof and windows. The property has a good landscaping and curb appeal.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both update flooring in living room — improves aesthetics and rental appeal
• Both install new carpet — enhances comfort and resale value

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both update flooring in living room — improves aesthetics and rental appeal ↑
• Both install new carpet — enhances comfort and resale value ↑

ⓘ 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

-7.8% since first listed

2 events — show timeline

• 2026-05-02 Price Changed $174,900 Beaches MLS
• 2026-04-07 Listed $189,700 Beaches MLS