44 Woodland Dr #205 · Florida Ridge, FL 32962

$92,900

1 bd · 2.0 ba · 750 sqft · Condo public records · 23 Days on market

Built 1978 $496/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 +16.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This comfy cozy condo is being offered fully furnished, turnkey! Just bring your bathing suit & enjoy. There's a lot to love here. Interior impact windows & front door, minus the lanai. Updated kitchen & bathrooms. Six panel doors. Soft color palette. Golf & lake views in front & golf views from the lanai. Vista Royale is a well run & maintained, very active 55+ community. With four pools, clubhouse, public golf course & restaurant, tennis, pickleball & more, there's always something to do. Vista Royale is minutes from the beach, shopping, dining, healthcare & more. Stop by & take a look!

Key facts

• Golf views
• Lake views
• Four pools

Tags

• INTERIOR IMPACT WINDOWS
• UPDATED KITCHEN
• UPDATED BATHROOMS
• GOLF VIEWS
• LAKE VIEWS
• FOUR POOLS

Property features AI

Finance

• Other: Senior community
• Financial info: Not a land-lease property; Pets not allowed (per association / multi-family info)
• HOA & community: Monthly HOA fee of $496; HOA amenities: heated pool, pool, fitness center, clubhouse, billiard room, game room, community room, recreation facilities, tennis courts, pickleball and shuffleboard courts, bocce ball, golf course access, cafe/restaurant, laundry, manager on site, maintenance of grounds and structure, parking, trash, water, sewer, common areas, reserve funds, workshop area, hobby room, kitchen facilities, library, bike storage, maintained community, street lights

Exterior

• Parking: 14 parking spaces (includes common, guest and golf cart parking); 1 open parking space
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Condominium; 2 stories; Faces southeast; Second-floor entry level
• Construction: Block and stucco construction; Concrete block (no stucco) elements; Flat roof; Built as resale property
• Exterior features: Not waterfront; Second-floor entry

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Electric heating; Electric cooling; Paddle fans
• Interior features: Smoke detectors; Blinds, jalousie and sliding windows; Common-area laundry
• Laundry & utility: Common-area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $93k.

Deal economics

• At list price, monthly cash flow is $-10 ($-118/yr) — negative.
• To cash-flow at today's rent, offer at most $91k (1.9% below list).
• Meets the 1% rule at list price ($1k rent vs $93k).
• Recommended offer: $91k (1.9% below list) — sets the bar for cash-flow.
• Cap rate 7.0% vs local median 4.5% in Florida Ridge — 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 72/100 on livability (#353 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, amenities F, health & safety 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.
• Zoned schools: Vero Beach Elementary School (math 39% / reading 36%, grade F, #1,596 of 2,144 statewide, top 75%, 599 students, 80% FRL); Oslo Middle School (math 39% / reading 45%, grade D-, #340 of 571 statewide, top 61%, 864 students, 72% FRL); Vero Beach High School (math 28% / reading 43%, grade F, #367 of 667 statewide, top 57%, 2,847 students, 50% FRL).
• Market conditions: Rents rising fast (+4.2%/yr); 351 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $642 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 23 days — a 2% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $28k; list at $93k implies a 226% gain — meaningful room to come down on a strong offer.

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 $91,156 (1.9% 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 1978 — 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.61% ✓
• Cap rate: 7.02%
• Cash-on-cash: 2.61%
• DSCR: 1.12
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.18% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.48×
• Total profit: $-13,532
• Equity at exit: $13,852

10-year hold

• IRR: -1.8%
• Equity multiple: 0.86×
• Total profit: $-3,603
• Equity at exit: $8,032

Cash invested: $26,012 (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: 351
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,492 high
• Mortgage (P&I): −$487
• Tax from tax record: −$100 /mo · $1,203/yr
• Insurance: −$39
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$496
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $-10

Break-even live

Break-even rent $1,505

Max offer price $91,156

Occupancy floor 96%

Sensitivity live

Price	-10% $43	-5% $16	+0% $-10	+5% $-36	+10% $-62
Rent	-10% $-128	-5% $-69	+0% $-10	+5% $49	+10% $108
Rate	-1.0pp $37	-0.5pp $14	base $-10	+0.5pp $-34	+1.0pp $-58

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: $23,225
• Closing costs: $2,787
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36 Pine Arbor Ln Vero Beach, FL	2.0	2.0	1000	$1,550	$1.55	23d	2	0.13mi
50 Woodland Dr #203 Vero Beach, FL	1.0	1.5	750	$1,350	$1.80	15d	1	0.14mi
37 Pine Arbor Ln #101 Vero Beach, FL	2.0	2.0	1000	$1,600	$1.60	15d	1	0.15mi
52 Woodland Dr #204 Vero Beach, FL	1.0	1.0	630	$1,300	$2.06	23d	1	0.16mi
65 Woodland Dr #207 Vero Beach, FL	2.0	2.0	1000	$1,600	$1.60	23d	1	0.24mi
58 Woodland Dr #206 Vero Beach, FL	2.0	2.0	1000	$1,800	$1.80	15d	1	0.28mi
60 Woodland Dr Vero Beach, FL	1.0	1.0	630	$1,125	$1.79	23d	1	0.30mi
60 Woodland Dr #204 Vero Beach, FL	1.0	1.0	630	$1,250	$1.98	15d	1	0.31mi
28 Pine Arbor Ln #103 Vero Beach, FL	1.0	1.5	750	$1,200	$1.60	23d	1	0.31mi
5 Vista Palm Ln #203 Vero Beach, FL	1.0	1.5	750	$1,500	$2.00	15d	1	0.33mi
74 Royal Oak Ct #204 Vero Beach, FL	1.0	1.0	630	$1,175	$1.87	23d	1	0.34mi
80 Crooked Tree Ln #106 Vero Beach, FL	2.0	2.0	1000	$1,900	$1.90	15d	1	0.36mi
86 Crooked Tree Ln #102 Vero Beach, FL	2.0	2.0	1000	$2,000	$2.00	15d	1	0.38mi
85 Crooked Tree Ln #203 Vero Beach, FL	1.0	1.5	750	$1,450	$1.93	23d	1	0.41mi
19 Pine Arbor Ln #105 Vero Beach, FL	1.0	1.5	750	$1,800	$2.40	23d	1	0.43mi
103 Royal Oak Dr #106 Vero Beach, FL	2.0	2.0	1000	$1,800	$1.80	15d	1	0.46mi
16 Vista Palm Ln Vero Beach, FL	1.0–2.0	1.5–2.0	800	$1,500	$1.88	23d	2	0.47mi
101 Spring Lake Dr #204 Vero Beach, FL	1.0	1.0	630	$1,275	$2.02	23d	1	0.50mi
102 Royal Oak Dr #105 Vero Beach, FL	1.0	1.5	750	$1,550	$2.07	23d	1	0.53mi
95 Spring Lake Dr #103 Vero Beach, FL	1.0	1.5	750	$1,600	$2.13	23d	1	0.55mi
15 Vista Gardens Trl #104 Vero Beach, FL	1.0	1.0	630	$1,300	$2.06	15d	1	0.74mi
23 Vista Gardens Trl #203 Vero Beach, FL	1.0	1.5	750	$1,500	$2.00	23d	1	0.91mi
43 Vista Gardens Trl #205 Vero Beach, FL	1.0	1.5	750	$1,450	$1.93	23d	1	0.92mi
26 Vista Gardens Trl #203 Vero Beach, FL	1.0	1.5	750	$1,350	$1.80	23d	1	0.98mi
28 Vista Gardens Trl #102 Vero Beach, FL	2.0	2.0	1000	$1,550	$1.55	23d	1	1.03mi
33 Vista Gardens Trl #104 Vero Beach, FL	1.0	1.0	630	$1,500	$2.38	15d	1	1.04mi
34 Vista Gardens Trl #107 Vero Beach, FL	2.0	2.0	1000	$1,350	$1.35	23d	1	1.05mi
36 Vista Gardens Trl #201 Vero Beach, FL	2.0	2.0	1000	$1,390	$1.39	23d	1	1.05mi
35 Vista Gardens Trl #205 Vero Beach, FL	1.0	1.5	934	$1,400	$1.50	23d	1	1.07mi
11 Vista Gardens Trl #106 Vero Beach, FL	2.0	2.0	1000	$1,600	$1.60	23d	1	1.10mi
4 Vista Gardens Trl #207 Vero Beach, FL	2.0	2.0	1000	$1,550	$1.55	15d	1	1.10mi
528 7th Sq #102 Vero Beach, FL	2.0	2.0	1095	$3,000	$2.74	23d	1	1.22mi
441 7th Pl #441 Vero Beach, FL	1.0	1.0	550	$1,250	$2.27	23d	1	1.23mi
462 7th Pl Vero Beach, FL	1.0	1.0	550	$1,400	$2.55	23d	1	1.26mi
522 7th Pl Unit 522 Vero Beach, FL	1.0	1.0	550	$1,500	$2.73	23d	1	1.29mi

HOA detail condo

• Monthly dues: $496 · $5,952/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-22
   days on market $92,900 Active 23 DOM
2. 2026-06-19
   days on market $92,900 Active 21 DOM
3. 2026-06-18
   days on market $92,900 Active 20 DOM
4. 2026-06-17
   days on market $92,900 Active 19 DOM
5. 2026-06-16
   days on market $92,900 Active 18 DOM
6. 2026-06-15
   days on market $92,900 Active 17 DOM
7. 2026-06-14
   days on market $92,900 Active 15 DOM
8. 2026-06-13
   days on market $92,900 Active 14 DOM
9. 2026-06-10
   days on market $92,900 Active 12 DOM
10. 2026-06-09
    days on market $92,900 Active 11 DOM
11. 2026-06-08
    days on market $92,900 Active 10 DOM
12. 2026-06-07
    days on market $92,900 Active 9 DOM
13. 2026-06-05
    days on market $92,900 Active 6 DOM
14. 2026-06-02
    days on market $92,900 Active 4 DOM
15. 2026-06-01
    days on market $92,900 Active 3 DOM
16. 2026-05-31
    days on market $92,900 Active 2 DOM
17. 2026-05-29
    listed $92,900 Active 655-char remark

    Show marketing remark (655 chars)

    This comfy cozy condo is being offered fully furnished, turnkey! Just bring your bathing suit & enjoy. There's a lot to love here. Interior impact windows & front door, minus the lanai. Updated kitchen & bathrooms. Six panel doors. Soft color palette. Golf & lake views in front & golf views from the lanai. Vista Royale is a well run & maintained, very active 55+ community. With four pools, clubhouse, public golf course & restaurant, tennis, pickleball & more, there's always something to do. Vista Royale is minutes from the beach, shopping, dining, healthcare & more. Stop by & take a look!

18. 2026-05-29
    listed $92,900 Active

    Show marketing remark (655 chars)

    This comfy cozy condo is being offered fully furnished, turnkey! Just bring your bathing suit & enjoy. There's a lot to love here. Interior impact windows & front door, minus the lanai. Updated kitchen & bathrooms. Six panel doors. Soft color palette. Golf & lake views in front & golf views from the lanai. Vista Royale is a well run & maintained, very active 55+ community. With four pools, clubhouse, public golf course & restaurant, tennis, pickleball & more, there's always something to do. Vista Royale is minutes from the beach, shopping, dining, healthcare & more. Stop by & take a look!

19. 2026-05-22
    historical
20. 2026-02-03
    price $94,900
21. 2025-09-27
    price $99,900
22. 2025-08-28
    listed $104,900 Active
23. 2025-08-28
    listed $94,900 Active
24. 1978-04-01
    soldstatus $28,500

ⓘ 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: $1,203 · $100/mo
• Projected year-2 tax: $1,203 · $100/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 3/10 Moderate
• 🌡 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: $17,905
• − Mortgage interest: −$5,204
• − Property taxes: −$1,203
• − Insurance: −$1,262
• − Repairs & maintenance: −$1,432
• − Management: −$1,432
• − HOA: −$5,952
• − Depreciation: −$2,703
• Taxable loss: −$1,283
• Est. tax savings @ 24.0%: +$308
• After-tax cash flow: $190/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

+226.0% since first listed

8 events — show timeline

• 2026-05-29 Listed $92,900 Beaches MLS
• 2026-05-29 Listed $92,900 RAIRCMLS
• 2026-05-22 Listing Removed — Beaches MLS
• 2026-02-03 Price Changed $94,900 RAIRCMLS
• 2025-09-27 Price Changed $99,900 RAIRCMLS
• 2025-08-28 Listed $94,900 Beaches MLS
• 2025-08-28 Listed $104,900 RAIRCMLS
• 1978-04-01 Sold (Public Records) $28,500 Public Records

Property tax history

+9.9%/yr

Latest (2025): $1,203 · +5.7% YoY. Source: county tax records.