12 Vista Gardens Trl #204 · Vero Beach South, FL 32962

$79,900

1 bd · 1.0 ba · 630 sqft · Townhouse public records · 77 Days on market

Built 1981 Est $85k · 6% under $465/mo HOA · 33% of rent

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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 +18.0/30.0
• ARV discount +10.2/15.0
• 1% rule +10.0/10.0
• DSCR +5.6/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nestled behind McKee Botanical Gardens, you'll find this 2nd floor 1 Bedroom/1 Bath condo in Vista Gardens, a wonderful 55+ community! This turnkey condo has newer laminate flooring throughout, fresh paint & a screened porch for sunset watching! A/C & hot water heater replaced in Oct. 2021. Community offers a clubhouse w/ large pool, hot tub, fitness room, tennis, shuffleboard & more. Close to beaches, shopping, dining & medical facilities. Sizes are approx/subj to error.

Key facts

• Tennis
• Hot tub
• Large pool

Tags

• SCREENED PORCH
• LARGE POOL
• HOT TUB
• FITNESS ROOM
• TENNIS
• SHUFFLEBOARD

Property features AI

Finance

• Other: Has a community pool and community spa
• Financial info: Pets not allowed
• HOA & community: Association managed by Keystone Property Mgmt; Monthly association fee of $465; Association covers common areas, cable TV, insurance, structure maintenance, recreation facilities, sewer, trash and water; Community amenities include clubhouse, fitness center, pool, tennis courts, shuffleboard, billiard room and on-site property manager; Senior community

Exterior

• Parking: Assigned uncovered parking
• Security: Smoke detector(s)
• Utilities: Public water; County sewer
• Home design: 2-story building; Faces southwest; Has adjacent/attached property
• Construction: Block and concrete construction; Built-up and tar/gravel roof
• Exterior features: Covered porch/patio; Screened porch (12 x 6); Porch

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: Bedroom (16 x 16)
• Flooring: Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Furnished; Single-hung windows with window treatments; Sliding doors
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $80k.

Deal economics

• At list price, monthly cash flow is $3 ($31/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 4.3% in Vero Beach South — 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 78/100 on livability (#163 in FL, #2,445 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A; Watch: 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 22d 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 $552 of loan paydown is wiped out by about $2k 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 77 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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

• Watch-outs: flood insurance adds $66/mo; HOA is 33% 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 $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.76% ✓
• Cap rate: 7.33%
• Cash-on-cash: 3.70%
• DSCR: 1.16
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $85,050
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 Vista Gardens Trl #204	0.03mi	1/1.0	631 (+0%)	3mo	$60,000	$95	96
17 Vista Gardens Trl #204	0.07mi	1/1.0	630 (0%)	2mo	$85,000	$135	95
18 Vista Gardens Trl #104	0.10mi	1/1.0	630 (0%)	1mo	$70,000	$111	95
20 Vista Gardens Trl #204	0.12mi	1/1.0	630 (0%)	1mo	$79,000	$125	94
21 Vista Gardens Trl #104	0.14mi	1/1.0	630 (0%)	4mo	$95,000	$151	90
27 Vista Gardens Trl #204	0.31mi	1/1.0	631 (+0%)	5mo	$75,000	$119	81
44 Vista Gardens Trl #104	0.32mi	1/1.0	630 (0%)	5mo	$95,000	$151	81
86 Crooked Tree Ln #204	0.49mi	1/1.0	630 (0%)	0mo	$73,500	$117	77
11 Vista Gardens Trl #104	0.43mi	1/1.0	630 (0%)	5mo	$95,500	$152	76
91 Crooked Tree Ln #204	0.56mi	1/1.0	630 (0%)	9mo	$80,000	$127	67
35 Vista Gardens Trl #204	0.38mi	1/1.0	700 (+11%)	0mo	$110,000	$157	64
503 7th Pl #503	0.59mi	1/1.0	550 (-13%)	7mo	$110,000	$200	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 · 4.18% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.52×
• Total profit: $-10,737
• Equity at exit: $11,913

10-year hold

• IRR: -0.3%
• Equity multiple: 0.97×
• Total profit: $-585
• Equity at exit: $6,908

Cash invested: $22,372 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,403 high
• Mortgage (P&I): −$419
• Tax from tax record: −$122 /mo · $1,467/yr
• Insurance: −$33
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$465
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $3

Break-even live

Break-even rent $1,400

Max offer price $79,900

Occupancy floor 95%

Sensitivity live

Price	-10% $48	-5% $25	+0% $3	+5% $-20	+10% $-43
Rent	-10% $-108	-5% $-53	+0% $3	+5% $58	+10% $113
Rate	-1.0pp $43	-0.5pp $23	base $3	+0.5pp $-18	+1.0pp $-39

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Vista Gardens Trl #104 Vero Beach, FL	1.0	1.0	630	$1,300	$2.06	14d	1	0.07mi
23 Vista Gardens Trl #203 Vero Beach, FL	1.0	1.5	750	$1,500	$2.00	21d	1	0.21mi
102 Royal Oak Dr #105 Vero Beach, FL	1.0	1.5	750	$1,550	$2.07	21d	1	0.26mi
26 Vista Gardens Trl #203 Vero Beach, FL	1.0	1.5	750	$1,350	$1.80	21d	1	0.29mi
101 Spring Lake Dr #204 Vero Beach, FL	1.0	1.0	630	$1,275	$2.02	21d	1	0.31mi
43 Vista Gardens Trl #205 Vero Beach, FL	1.0	1.5	750	$1,450	$1.93	21d	1	0.31mi
33 Vista Gardens Trl #104 Vero Beach, FL	1.0	1.0	630	$1,500	$2.38	14d	1	0.35mi
74 Royal Oak Ct #204 Vero Beach, FL	1.0	1.0	630	$1,175	$1.87	21d	1	0.36mi
95 Spring Lake Dr #103 Vero Beach, FL	1.0	1.5	750	$1,600	$2.13	21d	1	0.41mi
85 Crooked Tree Ln #203 Vero Beach, FL	1.0	1.5	750	$1,450	$1.93	21d	1	0.45mi
52 Woodland Dr #204 Vero Beach, FL	1.0	1.0	630	$1,300	$2.06	21d	1	0.55mi
60 Woodland Dr #204 Vero Beach, FL	1.0	1.0	630	$1,250	$1.98	14d	1	0.55mi
60 Woodland Dr Vero Beach, FL	1.0	1.0	630	$1,125	$1.79	21d	1	0.55mi
50 Woodland Dr #203 Vero Beach, FL	1.0	1.5	750	$1,350	$1.80	14d	1	0.56mi
441 7th Pl #441 Vero Beach, FL	1.0	1.0	550	$1,250	$2.27	21d	1	0.58mi
462 7th Pl Vero Beach, FL	1.0	1.0	550	$1,400	$2.55	21d	1	0.61mi
522 7th Pl Unit 522 Vero Beach, FL	1.0	1.0	550	$1,500	$2.73	21d	1	0.66mi
5 Vista Palm Ln #203 Vero Beach, FL	1.0	1.5	750	$1,500	$2.00	14d	1	0.87mi
28 Pine Arbor Ln #103 Vero Beach, FL	1.0	1.5	750	$1,200	$1.60	21d	1	1.00mi
19 Pine Arbor Ln #105 Vero Beach, FL	1.0	1.5	750	$1,800	$2.40	21d	1	1.08mi
16 Vista Palm Ln Vero Beach, FL	1.0–2.0	1.5–2.0	800	$1,500	$1.88	21d	2	1.08mi

HOA detail

• Monthly dues: $465 · $5,580/yr
• Likely covers: waterpool

Listing history 18 events

1. 2026-06-10
   status $79,900 Pending 77 DOM
2. 2026-06-09
   days on market $79,900 Active Under Contract 77 DOM
3. 2026-06-09
   status $79,900 Active Under Contract 76 DOM
4. 2026-06-08
   days on market $79,900 Active 76 DOM
5. 2026-06-07
   days on market $79,900 Active 75 DOM
6. 2026-06-05
   days on market $79,900 Active 72 DOM
7. 2026-06-02
   days on market $79,900 Active 70 DOM
8. 2026-06-01
   days on market $79,900 Active 69 DOM
9. 2026-05-31
   days on market $79,900 Active 68 DOM
10. 2026-05-30
    days on market $79,900 Active 67 DOM
11. 2026-03-24
    listed $79,900 Active
12. 2024-10-18
    historical
13. 2024-04-17
    listed $115,000 Active
14. 2024-04-17
    listed $115,000 Active
15. 2021-11-18
    soldstatus $79,000 Closed
16. 2021-10-12
    historical Active Under Contract
17. 2021-09-29
    listed $79,000 Active
18. 1995-03-31
    soldstatus $30,900

ⓘ 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: $1,467 · $122/mo
• Projected year-2 tax: $1,467 · $122/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 9/10 Extreme FEMA zone X (unshaded) · 99% 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,839
• − Mortgage interest: −$4,476
• − Property taxes: −$1,467
• − Insurance: −$1,197
• − Repairs & maintenance: −$1,347
• − Management: −$1,347
• − HOA: −$5,580
• − Depreciation: −$2,324
• Taxable loss: −$899
• Est. tax savings @ 24.0%: +$216
• After-tax cash flow: $247/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 — Vero Beach South

• Score: 78/100
• State rank: #163
• US rank: #2445

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vero Beach South, FL
• County: Indian River County · 143,738 people
• 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

+158.6% since first listed

8 events — show timeline

• 2026-03-24 Listed $79,900 RAIRCMLS
• 2024-10-18 Listing Removed — Beaches MLS
• 2024-04-17 Listed $115,000 RAIRCMLS
• 2024-04-17 Listed $115,000 Beaches MLS
• 2021-11-18 Sold (MLS) $79,000 Beaches MLS
• 2021-10-12 Contingent — Beaches MLS
• 2021-09-29 Listed $79,000 Beaches MLS
• 1995-03-31 Sold (Public Records) $30,900 Public Records

Property tax history

+11.5%/yr

Latest (2025): $1,467 · +3.0% YoY. Source: county tax records.