2800 Indian River Blvd Unit P3 · Vero Beach, FL 32960

$98,000

1 bd · 1.5 ba · 695 sqft · Townhouse · 43 Days on market

Built 1971 Good condition Est $125k · 22% under $463/mo HOA · 29% of rent

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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 +20.5/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +6.5/10.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Vero Beach lifestyle meets easy living! This ground-floor 1BR/1.5BA garden-style condo is offered turn-key and ready for immediate enjoyment. Ideal for seasonal living, a vacation retreat, or downsizing. Granite counters highlight the kitchen, while tile flooring runs through the main living area and enclosed patio. Rarely found condo storage includes two large walk-in closets, linen closet, and private storage locker. Community amenities include clubhouse, community pool, and shuffle ball courts. 2 miles to the nearest beach access, with shops and restaurants even closer.

Key facts

• Ground-floor
• Walk-in closets
• Tile flooring

Tags

• GROUND-FLOOR
• GARDEN-STYLE
• GRANITE COUNTERS
• TILE FLOORING
• WALK-IN CLOSETS
• PRIVATE STORAGE LOCKER

Property features AI

Finance

• Other: Property has a view
• Financial info: Pets not allowed
• HOA & community: Keystone Property Mngmt association; Monthly association fee of $463.12; Association covers insurance, ground and structure maintenance, recreation facilities, reserve fund, and trash; Community amenities include clubhouse, shuffleboard, and pool; Senior community

Exterior

• Parking: Assigned uncovered parking
• Utilities: Public water; Public sewer
• Home design: 2-story building; Faces east; Has attached property
• Construction: Block and concrete construction; Metal and rolled/hot mop roof
• Exterior features: Enclosed porch; Porch; Community pool

Interior

• Kitchen: Refrigerator; Range; Microwave; Disposal; Electric water heater
• Bedrooms: Bedroom (12 x 12)
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Furnished; Jalousie windows with window treatments; Carpet and tile flooring
• Laundry & utility: Laundry located in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath townhouse listed at $98k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $63 ($753/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $95k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.9% in Vero Beach — 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 80/100 on livability (#116 in FL, #1,784 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, health & safety A+; Watch: employment D+, amenities D.
• 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 soft (-1.7%/yr); 206 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).
• This rent runs 35% of the median local income ($55k/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 $678 of loan paydown is wiped out by about $3k 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 43 days — a 3% lower offer ($95k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 29% of rent.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,060 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.64% ✓
• Cap rate: 7.87%
• Cash-on-cash: 5.65%
• DSCR: 1.25
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $125,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2800 Indian River Blvd Unit M7	0.00mi	1/1.5	695 (0%)	2mo	$110,000	$158	98
2800 Indian River Blvd Unit 8F	0.00mi	1/1.5	695 (0%)	3mo	$165,000	$237	98
2800 Indian River Blvd Unit 2q	0.00mi	1/1.5	695 (0%)	3mo	$76,000	$109	98
2800 Indian River Blvd Unit L4	0.02mi	1/1.5	695 (0%)	4mo	$135,000	$194	96
2800 Indian River Blvd Unit 7N	0.00mi	1/1.5	695 (0%)	6mo	$80,000	$115	95
2800 Indian River Blvd Unit L8	0.00mi	1/1.5	695 (0%)	6mo	$98,000	$141	95
2800 Indian River Blvd Unit L2	0.00mi	1/1.0	695 (0%)	4mo	$125,000	$180	94
2800 Indian River Blvd Unit 7t	0.00mi	1/1.5	695 (0%)	9mo	$140,500	$202	93
2800 Indian River Blvd Unit 2f	0.00mi	1/1.5	695 (0%)	20mo	$159,000	$229	84
2800 Indian River Blvd Unit O7	0.00mi	1/1.5	695 (0%)	22mo	$205,000	$295	82
677 Royal Palm Blvd #6	0.59mi	1/1.0	700 (+1%)	1mo	$120,000	$171	69
2333 Indian River Blvd #601	0.44mi	1/1.0	624 (-10%)	3mo	$93,500	$150	58

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.41×
• Total profit: $-16,245
• Equity at exit: $14,612

10-year hold

• IRR: -25.8%
• Equity multiple: 0.06×
• Total profit: $-25,782
• Equity at exit: $8,473

Cash invested: $27,440 (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 32960

• Home prices YoY: -25.5%
• Rents YoY: -1.7%
• Active inventory: 206
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,607 high
• Mortgage (P&I): −$514
• Tax est. 1.5%: −$122 /mo · $1,470/yr
• Insurance: −$41
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$463
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $63

Break-even live

Break-even rent $1,527

Max offer price $98,000

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2800 Indian River Blvd Vero Beach, FL	1.0–2.0	1.5–2.0	847	$1,400	$1.65	13d	5	0.03mi
819 26th St Vero Beach, FL	1.0	1.0	474	$1,400	$2.95	13d	1	0.64mi
715 19th Pl Vero Beach, FL	1.0–2.0	1.0–2.0	600	$1,645	$2.74	13d	7	0.90mi
1825 Cobia Dr Unit 103H Vero Beach, FL	1.0	1.0	650	$2,400	$3.69	13d	1	0.91mi
1830 Robalo Dr Apt B103 Vero Beach, FL	1.0	1.0	650	$2,100	$3.23	13d	1	0.91mi
1815 Robalo Dr Unit C201 Vero Beach, FL	1.0	1.0	650	$1,700	$2.62	13d	1	0.92mi
2359 De Soto Ave Vero Beach, FL	1.0	1.0	570	$1,500	$2.63	21d	1	1.06mi
615 Azalea Ln Unit 4 Vero Beach, FL	—	1.0	350	$1,650	$4.71	13d	1	1.13mi
854 Bougainvillea Ln Unit 3 Vero Beach, FL	1.0	1.0	650	$2,150	$3.31	13d	1	1.38mi
854 Bougainvillea Ln Unit 3 Vero Beach, FL	1.0	1.0	650	$2,250	$3.46	21d	1	1.38mi
3850 11th Dr Vero Beach, FL	1.0–3.0	1.0–2.0	1029	$1,799	$1.75	13d	57	1.39mi

HOA detail

• Monthly dues: $463 · $5,556/yr
• Likely covers: pool

Listing history 17 events

1. 2026-06-19
   days on market $98,000 Active 43 DOM
2. 2026-06-18
   days on market $98,000 Active 42 DOM
3. 2026-06-17
   days on market $98,000 Active 41 DOM
4. 2026-06-16
   days on market $98,000 Active 40 DOM
5. 2026-06-15
   days on market $98,000 Active 39 DOM
6. 2026-06-14
   days on market $98,000 Active 37 DOM
7. 2026-06-13
   days on market $98,000 Active 36 DOM
8. 2026-06-10
   days on market $98,000 Active 34 DOM
9. 2026-06-09
   days on market $98,000 Active 33 DOM
10. 2026-06-08
    days on market $98,000 Active 32 DOM
11. 2026-06-07
    days on market $98,000 Active 31 DOM
12. 2026-06-05
    days on market $98,000 Active 28 DOM
13. 2026-06-02
    days on market $98,000 Active 26 DOM
14. 2026-06-01
    days on market $98,000 Active 25 DOM
15. 2026-05-31
    days on market $98,000 Active 24 DOM
16. 2026-05-30
    days on market $98,000 Active 23 DOM
17. 2026-05-07
    listed $98,000 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 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 23 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: $19,282
• − Mortgage interest: −$5,490
• − Property taxes: −$1,470
• − Insurance: −$1,288
• − Repairs & maintenance: −$1,543
• − Management: −$1,543
• − HOA: −$5,556
• − Depreciation: −$2,851
• Taxable loss: −$457
• Est. tax savings @ 24.0%: +$110
• After-tax cash flow: $862/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 80/100 Cosmetic rehab

This ground-floor 1BR/1.5BA garden-style condo is in good condition with minimal repairs needed. Painting and landscaping improvements would significantly enhance its curb appeal and value.

Value-add opportunities

• Both Painting (interior and exterior) — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both New flooring (kitchen and bathrooms) — Modern flooring improves aesthetics and functionality
• Both New kitchen appliances — Upgrades kitchen appliances add value and functionality
• Both New bathroom fixtures — Modern fixtures enhance bathroom aesthetics and functionality

Renovation cost estimate screening

Value-add ROI direction

• Both Painting (interior and exterior) — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring (kitchen and bathrooms) — Modern flooring improves aesthetics and functionality ↑
• Both New kitchen appliances — Upgrades kitchen appliances add value and functionality ↑
• Both New bathroom fixtures — Modern fixtures enhance bathroom aesthetics and functionality ↑

ⓘ 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: 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

• Score: 80/100
• State rank: #116
• US rank: #1784

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vero Beach, FL
• County: Indian River County · 143,738 people
• City population: 98,707
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 25,259
• Household income: $54,682
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 1166.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 16% Two or more races 12% Black 10% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 3% Cuban 2%
• Common ancestry: Italian 4% Slovak 3% Romanian 3%
• Foreign-born: 11% · Canada, Jamaica, Vietnam
• Languages at home: 82% English-only · Spanish 13% French/Haitian/Cajun 2% Other Asian/Pacific 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: ▼ -103.20%
• Current HPI: 302.0029
• Rent YoY: ▼ -1.66%
• 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

• 2026-05-07 Listed $98,000 RAIRCMLS