4556 49th Ave · Gifford, FL 32967

$289,000

3 bd · 2.0 ba · 1,390 sqft · Land · 91 Days on market

Built 2026 6,534 sqft lot

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Why this score? — see what drove the D+ 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 +17.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• 1% rule +4.7/10.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice building lot, cleared, in area of nice homes. Sizes are approx/subj to error.

Key facts

• Open floor plan
• Energy efficiency
• High ceilings

Tags

• OPEN FLOOR PLAN
• HIGH CEILINGS
• PREMIUM IMPACT GLASS WINDOWS
• ENERGY EFFICIENCY
• IMMEDIATE MOVE-IN READINESS

Property features AI

Finance

• Other: Pets allowed
• HOA & community: No association amenities

Exterior

• Utilities: Three-phase electric; Cable available
• Home design: Single-family residence; New construction; One story; Faces west; Entry level: main level
• Construction: CBS construction
• Exterior features: Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: High ceilings; Walk-in closet(s); Split bedroom layout

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $289k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $281k (2.7% below list).
• Recommended offer: $263k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 3.0% in Gifford — 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 68/100 on livability (#538 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A; Watch: schools D+, amenities F, employment 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 soft (-1.2%/yr); 612 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).
• This rent runs 43% of the median local income ($78k/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 $2k of loan paydown is wiped out by about $9k 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 91 days — a 9% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $20k; list at $289k implies a 1345% gain — meaningful room to come down on a strong offer.

Recommended offer $262,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.97% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.33%
• DSCR: 1.15
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.50×
• Total profit: $-40,723
• Equity at exit: $43,091

10-year hold

• IRR: -11.7%
• Equity multiple: 0.40×
• Total profit: $-48,720
• Equity at exit: $24,987

Cash invested: $80,920 (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 32967

• Home prices YoY: -24.4%
• Rents YoY: -1.2%
• Active inventory: 612
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,812 high
• Mortgage (P&I): −$1,516
• Tax est. 1.5%: −$361 /mo · $4,335/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$591
• Net cashflow: $225

Break-even live

Break-even rent $2,528

Max offer price $289,000

Occupancy floor 87%

Sensitivity live

Price	-10% $424	-5% $324	+0% $225	+5% $125	+10% $25
Rent	-10% $2	-5% $114	+0% $225	+5% $336	+10% $447
Rate	-1.0pp $370	-0.5pp $298	base $225	+0.5pp $150	+1.0pp $74

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4920 48th Pl Vero Beach, FL	3.0	2.0	1643	$3,200	$1.95	13d	1	0.25mi
4890 48th Ave Vero Beach, FL	3.0	2.0	1469	$2,300	$1.57	21d	1	0.29mi
5009 Corsica Sq Vero Beach, FL	2.0	2.0	1540	$2,300	$1.49	21d	1	0.68mi
5204 Jasper Sq Vero Beach, FL	4.0	2.0	1850	$3,000	$1.62	21d	1	0.96mi
4016 Basket Oak Cir Vero Beach, FL	2.0	2.0	1577	$2,550	$1.62	21d	1	1.00mi
4625 55th St Vero Beach, FL	4.0	2.0	1613	$2,800	$1.74	13d	1	1.11mi

Listing history 7 events

1. 2026-05-09
   status Pending
2. 2026-02-07
   listed $289,000 Active
3. 2021-06-21
   soldstatus $20,000 Closed 82-char remark

   Show marketing remark (82 chars)

   Nice building lot, cleared, in area of nice homes. Sizes are approx/subj to error.

4. 2021-06-03
   historical Active Under Contract 82-char remark

   Show marketing remark (82 chars)

   Nice building lot, cleared, in area of nice homes. Sizes are approx/subj to error.

5. 2021-05-17
   listed $20,000 Active 82-char remark

   Show marketing remark (82 chars)

   Nice building lot, cleared, in area of nice homes. Sizes are approx/subj to error.

6. 2006-03-24
   soldstatus $14,000
7. 2005-06-08
   soldstatus $10,000

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

Taxation est. · year 1

• Rental income: $33,750
• − Mortgage interest: −$16,188
• − Property taxes: −$4,335
• − Insurance: −$1,445
• − Repairs & maintenance: −$2,700
• − Management: −$2,700
• − Depreciation: −$8,407
• Taxable loss: −$2,026
• Est. tax savings @ 24.0%: +$486
• After-tax cash flow: $3,182/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 — Gifford

• Score: 68/100
• State rank: #538
• US rank: #10083

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gifford, FL
• County: Indian River County · 143,738 people
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 27,240
• Household income: $78,058
• Rent vs Own: 19.9% rent · 80.1% own
• Severe rent burden: 674.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 60% Black 17% Two or more races 16% Hispanic / Latino 15%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 2% Salvadoran 2%
• Common ancestry: Romanian 3% Hispanic 3% Lithuanian 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 9% French/Haitian/Cajun 3% Russian/Polish/Slavic 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: ▼ -91.34%
• Current HPI: 282.6156
• Rent YoY: ▼ -1.16%
• 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

+2790.0% since first listed

7 events — show timeline

• 2026-05-09 Pending — Beaches MLS
• 2026-02-07 Listed $289,000 Beaches MLS
• 2021-06-21 Sold (MLS) $20,000 RAIRCMLS
• 2021-06-03 Contingent — RAIRCMLS
• 2021-05-17 Listed $20,000 RAIRCMLS
• 2006-03-24 Sold (Public Records) $14,000 Public Records
• 2005-06-08 Sold (Public Records) $10,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $320 · +7.7% YoY. Source: county tax records.