None · Florida Ridge, FL 32962

$260,000

2 bd · 2.0 ba · 992 sqft · SingleFamily public records · 4 Days on market

Built 1964 6,534 sqft lot Est $220k · 18% over

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Why this score? — see what drove the F 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 +7.2/30.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• 1% rule +1.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Lovely 3BR/2BA home featuring all impact glass windows, a detached workshop, and side-yard space for RV, boat, or trailer parking. Enjoy the private backyard with a spacious wooden deck, perfect for relaxing or entertaining, plus a hot tub that can convey with the home. Situated on a quiet dead-end street with minimal traffic, this well-maintained, move-in-ready property is conveniently located near Vero Beach's beautiful beaches, shopping, dining, and everyday amenities. Plenty of room for hobbies, storage, and outdoor enjoyment while embracing the Florida lifestyle. rmszappr & sub2err

Key facts

• 6,534 sq ft lot
• Garage
• Built 1964

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-360 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (24.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (38.8% below list).
• Recommended offer: $159k (38.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#353 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D, employment D, 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; 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 $2k of loan paydown is wiped out by about $8k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $159,204 (38.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.61% ✗
• Cap rate: 4.63%
• Cash-on-cash: -5.93%
• DSCR: 0.74
• GRM: 13.6

CMA / ARV

• ARV (on-the-fly): $220,224
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2263 4th Ave SE	0.23mi	2/1.0	978 (-1%)	3mo	$312,000	$319	80
2338 2nd Ct SE	0.11mi	3/2.0 (+1)	1,080 (+9%)	2mo	$289,000	$268	73
2343 2nd Ct SE	0.11mi	2/1.5	1,056 (+6%)	13mo	$234,900	$222	71
2303 2nd Ct SE	0.18mi	2/1.0	1,002 (+1%)	18mo	$219,000	$219	70
2429 2nd Ave SE	0.15mi	3/1.0 (+1)	1,056 (+6%)	5mo	$136,000	$129	69
154 21 St SW	0.59mi	3/2.0 (+1)	1,000 (+1%)	2mo	$282,000	$282	65
2317 2nd Ave SE	0.20mi	3/2.0 (+1)	1,008 (+2%)	23mo	$235,000	$233	64
2218 1st Ave SE	0.35mi	3/1.0 (+1)	900 (-9%)	7mo	$195,000	$217	53
2443 2nd Ct SE	0.11mi	3/1.0 (+1)	1,118 (+13%)	23mo	$126,000	$113	46

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: -25.4%
• Equity multiple: 0.13×
• Total profit: $-63,226
• Equity at exit: $38,767

10-year hold

• IRR: -18.9%
• Equity multiple: -0.06×
• Total profit: $-76,882
• Equity at exit: $22,480

Cash invested: $72,800 (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 32962

• Rents YoY: 4.2%
• Active inventory: 348
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $1,592 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$146 /mo · $1,749/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $-360

Break-even live

Break-even rent $2,048

Max offer price $196,426

Occupancy floor —

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-19
   days on market $260,000 Active 4 DOM
2. 2026-06-18
   days on market $260,000 Active 3 DOM
3. 2026-06-17
   days on market $260,000 Active 2 DOM
4. 2026-06-15
   statusdays on market $260,000 Active 1 DOM
5. 2026-06-15
   days on market $260,000 Coming Soon 12 DOM
6. 2026-06-14
   days on market $260,000 Coming Soon 10 DOM
7. 2026-06-13
   days on market $260,000 Coming Soon 9 DOM
8. 2026-06-10
   days on market $260,000 Coming Soon 7 DOM
9. 2026-06-09
   days on market $260,000 Coming Soon 6 DOM
10. 2026-06-08
    days on market $260,000 Coming Soon 5 DOM
11. 2026-06-07
    days on market $260,000 Coming Soon 4 DOM
12. 2026-06-05
    remarks 593-char remark
13. 2026-06-05
    pricestatuslisting id $260,000 Coming Soon 1 DOM
14. 2026-05-26
    listed $250,000 Active

ⓘ 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: $1,749 · $146/mo
• Projected year-2 tax: $2,158 · $180/mo
• Expected delta: +$409/yr (+$34/mo · 23.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 26 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: $19,104
• − Mortgage interest: −$14,564
• − Property taxes: −$1,749
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,528
• − Management: −$1,528
• − Depreciation: −$7,564
• Taxable loss: −$9,129
• Est. tax savings @ 24.0%: +$2,191
• After-tax cash flow: $-2,127/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 — Florida Ridge

• Score: 72/100
• State rank: #353
• US rank: #6129

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florida Ridge, FL
• County: Indian River County · 143,738 people
• City population: 25,629
• 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

1 event — show timeline

• 2026-05-26 Listed $250,000 FSBO.com

Property tax history

+29.5%/yr

Latest (2025): $1,749 · +16.8% YoY. Source: county tax records.