360 Barraclough St

Indian River Estates, FL 34982

$298,000D+

4 bd · 1.5 ba · 1,476 sqft · Built 1955 · SingleFamily · Active · 106 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,423/mo
• Mortgage (P&I): −$1,563
• Tax + insurance: −$373
• HOA: −$0
• Vac / Maint / Mgmt: −$509
• Net cashflow: $-22/mo
• Annual: $-263/yr
• Cap rate: 6.20%
• Cash-on-cash: -0.32%
• DSCR: 0.99
• 1% rule: 0.81%
• Cash to close: $83,440

Investor read

• This is a 4-bed/1.5-bath single-family listed at $298k.
• At list price, monthly cash flow is $-22 ($-263/yr) — negative.
• To cash-flow at today's rent, offer at most $294k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (18.7% below list).
• It's been on market 106 days — a 9% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $242k (18.7% below list) — sets the bar for 1% rule.
• 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.
• Location reads 65/100 on livability (#653 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D+, amenities F, commute F.
• St. Lucie (urban): math 40% / reading 48% proficiency, ranked #51 of 73 in FL (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Savanna Ridge Elementary School (math 40% / reading 45%, grade F, #1,383 of 2,144 statewide, top 65%, 452 students, 75% FRL); Port St. Lucie High School (math 21% / reading 43%, grade F, #415 of 667 statewide, top 63%, 1,748 students, 67% FRL).
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+7.4%/yr); 336 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• St. Lucie County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $81k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $39k; list at $298k implies a 664% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $2,423/mo this rent would consume 54% of the median local household income ($54k/yr) (locally 1086% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 106 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.