3625 2nd Ln · Vero Beach South, FL 32968

$195,000

2 bd · 2.0 ba · 1,108 sqft · SingleFamily public records · 8 Days on market

Built 1990 4,792 sqft lot Est $255k · 23% under

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

Listing remarks MLS

Cash-only 2 bed, 2 bath home in Vero Beach with strong potential for renovation or investment. Built in 1990, this property is located in a quiet neighborhood and features a solid layout ready for transformation. The roof and AC are of unknown age and condition, and the home is being sold as-is. Ideal for investors or buyers seeking a fixer-upper in a desirable area close to beaches, schools, and local amenities.

Key facts

• Solid layout
• Local amenities
• Quiet neighborhood

Tags

• QUIET NEIGHBORHOOD
• SOLID LAYOUT
• CLOSE TO BEACHES
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $974 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Cap rate 12.3% 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: 184 active listings in the ZIP; 15 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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

• Climate carrying-cost: 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 $195,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.52% ✓
• Cap rate: 12.29%
• Cash-on-cash: 21.41%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $254,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3246 1st St	0.31mi	2/2.0	1,117 (+1%)	6mo	$225,900	$202	79
306 35th Ave	0.14mi	3/2.0 (+1)	1,186 (+7%)	3mo	$240,000	$202	74
3496 1st St SW	0.34mi	2/2.0	1,023 (-8%)	1mo	$270,000	$264	71
19 43rd Ct	0.56mi	3/2.0 (+1)	1,132 (+2%)	2mo	$260,000	$230	64
306 30th Ave	0.40mi	2/2.0	1,000 (-10%)	7mo	$275,000	$275	59
3236 1st Rd	0.36mi	3/2.0 (+1)	1,200 (+8%)	6mo	$265,000	$221	59
805 36th Ave	0.69mi	3/2.0 (+1)	1,107 (-0%)	5mo	$285,000	$257	58
3256 1st St SW	0.39mi	2/2.0	976 (-12%)	8mo	$277,500	$284	55
3196 1st Ln	0.32mi	3/2.0 (+1)	1,274 (+15%)	2mo	$232,000	$182	54
16 44th Ave	0.57mi	3/2.0 (+1)	1,181 (+7%)	8mo	$262,000	$222	51
660 42nd Ct	0.62mi	3/2.0 (+1)	1,004 (-9%)	6mo	$199,900	$199	46
2545 1st Pl N	0.68mi	3/2.0 (+1)	1,232 (+11%)	4mo	$305,500	$248	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.0%
• Equity multiple: 1.56×
• Total profit: $30,515
• Equity at exit: $29,075

10-year hold

• IRR: 22.8%
• Equity multiple: 2.95×
• Total profit: $106,712
• Equity at exit: $16,860

Cash invested: $54,600 (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 32968

• Home prices YoY: -27.5%
• Active inventory: 184
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,966 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$265 /mo · $3,178/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$623
• Net cashflow: $974

Break-even live

Break-even rent $1,733

Max offer price $195,000

Occupancy floor 62%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3285 3rd Pl Unit 1018166P Vero Beach, FL	3.0	2.0	1420	$3,708	$2.61	13d	1	0.25mi
3673 2nd Pl SW Vero Beach, FL	3.0	2.0	1410	$4,800	$3.40	13d	1	0.58mi
3673 2nd Pl SW Vero Beach, FL	3.0	2.0	1410	$4,800	$3.40	21d	1	0.58mi
405 27th Ct Vero Beach, FL	3.0	2.0	1100	$1,850	$1.68	13d	1	0.59mi
2624 2nd St SW Vero Beach, FL	2.0	1.0	748	$1,750	$2.34	13d	1	0.77mi
248 27th Ave SW Vero Beach, FL	3.0	2.0	836	$1,700	$2.03	21d	1	0.82mi
1816 5th Pl Unit 1018162P Vero Beach, FL	2.0	2.0	1323	$3,841	$2.90	21d	1	1.25mi
275 16th Ave Vero Beach, FL	2.0	2.0	1144	$1,600	$1.40	13d	1	1.35mi
2543 Stockbridge Sq SW Vero Beach, FL	3.0	2.0	1464	$2,200	$1.50	13d	1	1.37mi
1702 7th St Vero Beach, FL	3.0	2.0	1230	$2,100	$1.71	13d	1	1.40mi
1406 36th Ave Vero Beach, FL	2.0	2.5	1284	$2,000	$1.56	13d	1	1.42mi
1406 36th Ave Vero Beach, FL	2.0	2.5	1284	$2,150	$1.67	21d	1	1.42mi
1408 36th Ave Unit 1408 Vero Beach, FL	2.0	2.5	1284	$2,150	$1.67	21d	1	1.43mi
1330 28th Ave Vero Beach, FL	3.0	2.0	1488	$3,200	$2.15	21d	1	1.44mi
2619 Langrove Ln SW Unit 2619 Vero Beach, FL	3.0	2.0	1464	$2,450	$1.67	21d	1	1.47mi

Listing history 8 events

1. 2026-05-11
   soldstatus $200,000
2. 2026-03-11
   status Pending
3. 2025-07-16
   soldstatus $180,000
4. 2025-06-05
   status Pending 416-char remark

   Show marketing remark (416 chars)

   Cash-only 2 bed, 2 bath home in Vero Beach with strong potential for renovation or investment. Built in 1990, this property is located in a quiet neighborhood and features a solid layout ready for transformation. The roof and AC are of unknown age and condition, and the home is being sold as-is. Ideal for investors or buyers seeking a fixer-upper in a desirable area close to beaches, schools, and local amenities.

5. 2025-06-05
   status Pending

   Show marketing remark (416 chars)

   Cash-only 2 bed, 2 bath home in Vero Beach with strong potential for renovation or investment. Built in 1990, this property is located in a quiet neighborhood and features a solid layout ready for transformation. The roof and AC are of unknown age and condition, and the home is being sold as-is. Ideal for investors or buyers seeking a fixer-upper in a desirable area close to beaches, schools, and local amenities.

6. 2025-05-27
   listed $195,000 Active

   Show marketing remark (416 chars)

   Cash-only 2 bed, 2 bath home in Vero Beach with strong potential for renovation or investment. Built in 1990, this property is located in a quiet neighborhood and features a solid layout ready for transformation. The roof and AC are of unknown age and condition, and the home is being sold as-is. Ideal for investors or buyers seeking a fixer-upper in a desirable area close to beaches, schools, and local amenities.

7. 2025-05-27
   listed $195,000 Active 416-char remark

   Show marketing remark (416 chars)

   Cash-only 2 bed, 2 bath home in Vero Beach with strong potential for renovation or investment. Built in 1990, this property is located in a quiet neighborhood and features a solid layout ready for transformation. The roof and AC are of unknown age and condition, and the home is being sold as-is. Ideal for investors or buyers seeking a fixer-upper in a desirable area close to beaches, schools, and local amenities.

8. 2008-09-17
   soldstatus $101,000

ⓘ 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: $3,178 · $265/mo
• Projected year-2 tax: $3,178 · $265/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 1/10 Low FEMA zone X (unshaded) · 0% 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: $35,590
• − Mortgage interest: −$10,923
• − Property taxes: −$3,178
• − Insurance: −$975
• − Repairs & maintenance: −$2,847
• − Management: −$2,847
• − Depreciation: −$5,673
• Taxable income: $9,147
• Est. tax owed @ 24.0%: −$2,195
• After-tax cash flow: $9,497/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
• Population (ZIP): 15,576

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 12% Two or more races 11% Black 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Spanish 7% Other Indo-European 1% Chinese 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: ▼ -118.63%
• Current HPI: 312.136
• Rent YoY: —
• Metro: —
• 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

+98.0% since first listed

8 events — show timeline

• 2026-05-11 Sold (Public Records) $200,000 Public Records
• 2026-03-11 Pending — Beaches MLS
• 2025-07-16 Sold (Public Records) $180,000 Public Records
• 2025-06-05 Pending — SCMLS
• 2025-06-05 Pending — Beaches MLS
• 2025-05-27 Listed $195,000 SCMLS
• 2025-05-27 Listed $195,000 Beaches MLS
• 2008-09-17 Sold (Public Records) $101,000 Public Records

Property tax history

+17.6%/yr

Latest (2025): $3,178 · +407.7% YoY. Source: county tax records.