1611 Gaiety Way · Fort Pierce, FL 34947

$350,900

4 bd · 2.0 ba · 1,763 sqft · Land · 83 Days on market

Built 2025 $151/mo HOA · 6% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +7.2/30.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Key facts

• $151 HOA
• Garage
• Community pool

Property features AI

Finance

• Other: Pets allowed with no restrictions
• HOA & community: HOA with monthly fee; Community amenities include clubhouse, pool, playground, dog park, and picnic area; HOA covers grounds maintenance and common area maintenance

Exterior

• Parking: Attached garage with 1 garage space; Covered parking (1 space); Garage door opener
• Security: Fire alarm
• Utilities: Public water; Public sewer; Electricity available; Cable available
• Home design: Townhouse; Single-story; North-facing; New construction; Santa Maria model
• Construction: Block construction; Shingle roof; Built as new construction
• Exterior features: First-floor entry; Not waterfront

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 4 bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Kitchen island; Walk-in closets; Blinds; Insulated windows; Unfurnished
• Laundry & utility: Washer hookup

🏗️ 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 4-bed/2.0-bath land listed at $351k.

Deal economics

• At list price, monthly cash flow is $-479 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $282k (19.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (24.4% below list).
• Recommended offer: $265k (24.4% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 3.7% in Fort Pierce — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 76/100 on livability (#226 in FL, #3,360 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, schools D, amenities 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.
• Market conditions: 149 active listings in the ZIP; 15 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).
• At $2,654/mo this rent would consume 61% of the median local household income ($52k/yr) (locally 625% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• St. Lucie County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($330k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $265,409 (24.4% 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. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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?
9. 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.
10. 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.
11. 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: 0.76% ✗
• Cap rate: 4.65%
• Cash-on-cash: -5.85%
• DSCR: 0.74
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -26.3%
• Equity multiple: 0.11×
• Total profit: $-87,252
• Equity at exit: $52,320

10-year hold

• IRR: -23.1%
• Equity multiple: -0.17×
• Total profit: $-114,743
• Equity at exit: $30,339

Cash invested: $98,252 (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 34947

• Home prices YoY: -8.6%
• Active inventory: 149
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,654 high
• Mortgage (P&I): −$1,840
• Tax est. 1.5%: −$439 /mo · $5,264/yr
• Insurance: −$146
• HOA: −$151
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $-479

Break-even live

Break-even rent $3,261

Max offer price $281,550

Occupancy floor —

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: $87,725
• Closing costs: $10,527
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5318 Imagination Dr Fort Pierce, FL	3.0	2.0	1542	$2,500	$1.62	23d	1	0.21mi
1810 Celebration Dr Fort Pierce, FL	4.0	2.0	1767	$2,700	$1.53	23d	1	0.21mi
1618 Merriment Way Fort Pierce, FL	3.0	2.0	1538	$2,200	$1.43	23d	1	0.23mi
1817 Party Pl Fort Pierce, FL	3.0	2.0	1389	$2,250	$1.62	23d	1	0.26mi
5517 Amusement Ave Fort Pierce, FL	3.0	2.0	1716	$2,600	$1.52	23d	1	0.51mi
4213 Longmour Ln Fort Pierce, FL	3.0	2.0	1640	$2,400	$1.46	23d	1	0.57mi
874 Bent Creek Dr Unit 874 Fort Pierce, FL	5.0	3.0	2586	$2,950	$1.14	23d	1	0.68mi
4209 Longmour Ln Fort Pierce, FL	3.0	2.0	1640	$2,400	$1.46	23d	1	0.71mi
793 Worlington Ln Fort Pierce, FL	3.0	2.0	1560	$2,750	$1.76	23d	1	0.75mi
4229 Troon Pl Fort Pierce, FL	4.0	2.5	2539	$2,800	$1.10	23d	1	0.89mi
2552 Peters Rd Fort Pierce, FL	3.0	2.5	1558	$2,570	$1.65	23d	1	1.14mi
220 Raspberry Rd Fort Pierce, FL	4.0	2.5	2195	$3,000	$1.37	23d	1	1.18mi
323 Raspberry Rd #323 Fort Pierce, FL	3.0	2.0	1503	$2,400	$1.60	23d	1	1.25mi
2100 S 34th St Fort Pierce, FL	3.0	2.0	1262	$2,200	$1.74	23d	1	1.37mi
4321 Kirby Loop Rd Unit 1 Fort Pierce, FL	3.0	2.0	2092	$2,400	$1.15	23d	1	1.40mi

HOA detail

• Monthly dues: $151 · $1,812/yr

Listing history 22 events

1. 2026-06-18
   days on market $350,900 Active 83 DOM
2. 2026-06-17
   days on market $350,900 Active 82 DOM
3. 2026-06-16
   days on market $350,900 Active 81 DOM
4. 2026-06-15
   days on market $350,900 Active 80 DOM
5. 2026-06-14
   days on market $350,900 Active 78 DOM
6. 2026-06-13
   days on market $350,900 Active 77 DOM
7. 2026-06-10
   days on market $350,900 Active 75 DOM
8. 2026-06-09
   days on market $350,900 Active 74 DOM
9. 2026-06-08
   days on market $350,900 Active 73 DOM
10. 2026-06-07
    days on market $350,900 Active 72 DOM
11. 2026-06-05
    days on market $350,900 Active 69 DOM
12. 2026-06-03
    days on market $350,900 Active 68 DOM
13. 2026-06-02
    days on market $350,900 Active 67 DOM
14. 2026-06-01
    days on market $350,900 Active 66 DOM
15. 2026-05-31
    days on market $350,900 Active 65 DOM
16. 2026-05-30
    days on market $350,900 Active 64 DOM
17. 2026-05-11
    price $350,900
18. 2026-04-02
    price $343,900
19. 2026-03-27
    listed $339,900 Active
20. 2024-02-07
    soldstatus $507,700
21. 2022-10-10
    soldstatus $7,936,571
22. 2022-04-07
    soldstatus $1,456,000

ⓘ 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 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 6 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,849
• − Mortgage interest: −$19,656
• − Property taxes: −$5,264
• − Insurance: −$1,754
• − Repairs & maintenance: −$2,548
• − Management: −$2,548
• − HOA: −$1,812
• − Depreciation: −$10,208
• Taxable loss: −$11,941
• Est. tax savings @ 24.0%: +$2,866
• After-tax cash flow: $-2,885/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: St. Lucie
• NCES district ID: 1201770
• Math proficiency: 40% ▼ -11.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $44,737
• Composite: 37.28/100
• National rank: #4449
• State rank: #51 of 73 in FL

Livability — Fort Pierce

• Score: 76/100
• State rank: #226
• US rank: #3360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Pierce, FL
• County: Saint Lucie County · 337,150 people
• City population: 78,556
• Metro: Port St. Lucie, FL
• Population (ZIP): 12,804
• Household income: $51,811
• Rent vs Own: 52.4% rent · 47.6% own
• Severe rent burden: 625.0

Population outlook (St. Lucie County) Hauer SSP2

• Today (2025): 338,016 people
• By 2030: 355,687 · +5.2%
• By 2040: 385,521 · +14.1%
• By 2050: 406,106 · +20.1%
• By 2075: 441,054 · +30.5%
• By 2100: 436,885 · +29.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Black 52% Hispanic / Latino 22% White 17% Two or more races 10% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 3% Cuban 1%
• Common ancestry: Hispanic 8% Italian 2% Romanian 1%
• Foreign-born: 16% · Canada
• Languages at home: 73% English-only · Spanish 17% French/Haitian/Cajun 7% Other Indo-European 2%

Political lean MEDSL · St. Lucie

• 2024 margin: Lean R (+9.1) · D 45.1% · R 54.2%
• 2008→2024 swing: -21.2pp toward R · 2008: 12.1pp · 2024: -9.1pp
• All cycles: 2024: R+9.1 2020: R+1.6 2016: R+2.5 2012: D+7.9 2008: D+12.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.68%
• Current HPI: 356.2528
• Rent YoY: —
• Metro: Port St. Lucie, 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

-75.9% since first listed

6 events — show timeline

• 2026-05-11 Price Changed $350,900 Beaches MLS
• 2026-04-02 Price Changed $343,900 Beaches MLS
• 2026-03-27 Listed $339,900 Beaches MLS
• 2024-02-07 Sold (Public Records) $507,700 Public Records
• 2022-10-10 Sold (Public Records) $7,936,571 Public Records
• 2022-04-07 Sold (Public Records) $1,456,000 Public Records

Property tax history

+14.2%/yr

Latest (2025): $323 · +13.4% YoY. Source: county tax records.