3483 Spanish Cedar Pl · Florida Ridge, FL 34946

$373,103

3 bd · 2.5 ba · 1,831 sqft · SingleFamily · 18 Days on market

Built 2026 Est $379k · at est.

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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).

• ARV discount +8.2/15.0
• Appreciation +8.0/10.0
• Cash flow +7.3/30.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.5/10.0

Listing remarks

In this brand-new single-level home, visitors are greeted by a convenient study off the entry, leading to an open-concept layout consisting of the kitchen, dining room and living room. A lanai is easily accessible off the main living area for enhanced outdoor living. Three bedrooms are placed to the side of the home, including the luxe owner's suite, which is tucked into a back corner for enhanced comfort and privacy.

Key facts

• Luxe owner's suite
• Lanai
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• LANAI
• LUXE OWNER'S SUITE
• ENHANCED OUTDOOR LIVING

Property features AI

Finance

• Financial info: List price: $382,670

Exterior

• Parking: 2 garage spaces (2 parking spaces total)
• Home design: Single-family home (Ashley plan); Spec new-construction home
• Exterior features: Street address: 3483 Spanish Cedar Pl, Fort Pierce, FL 34946

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Interior features: Open living area of approximately 1831; New construction (spec home, Ashley plan)

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $373k.

Deal economics

• At list price, monthly cash flow is $-490 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $302k (19.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $264k (29.2% below list).
• Recommended offer: $264k (29.2% below list) — sets the bar for 1% rule.

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-.
• 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: Manatee Academy K-8 (math 53% / reading 51%, grade C-, #990 of 2,144 statewide, top 48%, 1,664 students, 65% FRL); Southern Oaks Middle School (math 39% / reading 43%, grade F, #353 of 571 statewide, top 63%, 894 students, 76% FRL); Fort Pierce Central High School (math 15% / reading 45%, grade F, #441 of 667 statewide, top 67%, 3,091 students, 62% FRL).
• Market conditions: 133 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($3k loan paydown + $22k appreciation (5.9% local appreciation)).
• St. Lucie County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($368k) is reasonable based on typical stale-listing flexibility.

Recommended offer $264,304 (29.2% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.71% ✗
• Cap rate: 4.72%
• Cash-on-cash: -5.63%
• DSCR: 0.75
• GRM: 11.8

CMA / ARV

• ARV (on-the-fly): $379,017
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6686 Spanish Cedar Pl	0.17mi	2/2.0 (-1)	1,713 (-6%)	3mo	$360,310	$210	72
6680 Spanish Cedar Ln	0.16mi	3/3.0	2,002 (+9%)	5mo	$370,000	$185	71
3432 Cedar Grove Dr	0.45mi	4/2.0 (+1)	1,809 (-1%)	4mo	$365,000	$202	67
3467 Cedar Grove Dr	0.42mi	4/2.0 (+1)	1,809 (-1%)	7mo	$350,000	$193	66
3479 Cedar Grove Dr	0.40mi	4/2.0 (+1)	1,809 (-1%)	9mo	$375,000	$207	65
3562 Angler Dr	0.34mi	4/2.0 (+1)	1,809 (-1%)	15mo	$375,000	$207	63
6402 Spanish Cedar Pl	0.39mi	4/2.0 (+1)	1,809 (-1%)	12mo	$403,860	$223	62
3545 Angler Dr	0.34mi	4/2.0 (+1)	1,809 (-1%)	16mo	$383,984	$212	62
3563 Angler Dr	0.33mi	4/2.0 (+1)	1,809 (-1%)	16mo	$389,990	$216	62
3611 Angler Dr	0.33mi	4/2.0 (+1)	1,937 (+6%)	8mo	$375,000	$194	62
3623 Angler Dr	0.33mi	3/3.0	2,002 (+9%)	15mo	$360,000	$180	54
3407 Cedar Grove Dr	0.48mi	3/3.0	2,002 (+9%)	17mo	$407,510	$204	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.6%
• Equity multiple: 1.72×
• Total profit: $74,771
• Equity at exit: $232,680

10-year hold

• IRR: 11.7%
• Equity multiple: 3.34×
• Total profit: $244,936
• Equity at exit: $420,350

Cash invested: $104,469 (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 34946

• Home prices YoY: 1.7%
• Active inventory: 133
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,643 high
• Mortgage (P&I): −$1,957
• Tax est. 1.5%: −$466 /mo · $5,597/yr
• Insurance: −$155
• HOA: −$0
• Vacancy / Maint / Mgmt: −$555
• Net cashflow: $-490

Break-even live

Break-even rent $3,264

Max offer price $302,137

Occupancy floor —

Sensitivity live

Price	-10% $-233	-5% $-362	+0% $-490	+5% $-619	+10% $-748
Rent	-10% $-699	-5% $-595	+0% $-490	+5% $-386	+10% $-282
Rate	-1.0pp $-303	-0.5pp $-396	base $-490	+0.5pp $-587	+1.0pp $-685

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: $93,276
• Closing costs: $11,193
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3766 Harborside Ave Fort Pierce, FL	2.0	2.0	1308	$2,160	$1.65	15d	1	0.20mi
3129 Spanish Cedar Pl Fort Pierce, FL	4.0	2.5	2581	$2,700	$1.05	15d	1	0.22mi
3495 Harborside Ave Fort Pierce, FL	4.0	2.0	1814	$2,700	$1.49	25d	1	0.29mi
3551 Angler Dr Fort Pierce, FL	4.0	2.5	2583	$2,600	$1.01	25d	1	0.31mi
3526 Angler Dr Fort Pierce, FL	4.0	2.0	1809	$2,600	$1.44	22d	1	0.35mi
2986 Spanish Cedar Pl Fort Pierce, FL	4.0	2.5	2581	$2,700	$1.05	15d	1	0.38mi
2950 Spanish Cedar Pl Fort Pierce, FL	4.0	2.5	2581	$2,700	$1.05	15d	1	0.44mi
2949 Spanish Cedar Pl Fort Pierce, FL	4.0	2.5	2581	$2,700	$1.05	15d	1	0.44mi
2066 5th Ct SE Vero Beach, FL	2.0	2.0	1415	$3,850	$2.72	22d	1	0.72mi
335 Hawthorne Ln Vero Beach, FL	2.0	2.0	1587	$1,800	$1.13	22d	1	0.98mi
23 Highland Dr SW Vero Beach, FL	4.0	3.0	1263	$2,950	$2.34	22d	1	1.03mi
254 Hawthorne Ln Vero Beach, FL	3.0	2.0	1703	$2,900	$1.70	22d	1	1.06mi
2320 Water Oaks Ln Unit 111 Vero Beach, FL	3.0	2.0	1811	$3,500	$1.93	22d	1	1.23mi
5642 Sunberry Cir Fort Pierce, FL	3.0	2.0	1377	$1,950	$1.42	25d	1	1.44mi

Taxation est. · year 1

• Rental income: $31,716
• − Mortgage interest: −$20,900
• − Property taxes: −$5,597
• − Insurance: −$1,866
• − Repairs & maintenance: −$2,537
• − Management: −$2,537
• − Depreciation: −$10,854
• Taxable loss: −$12,574
• Est. tax savings @ 24.0%: +$3,018
• After-tax cash flow: $-2,867/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 — 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

• City population: 25,629
• Population (ZIP): 6,588

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 0.68)
• Race & ethnicity: Black 36% Hispanic / Latino 34% White 26% Two or more races 18% Native American 4% Asian 1%
• Hispanic origin (detail): Mexican 16% Puerto Rican 2% Cuban 2% Salvadoran 1%
• Common ancestry: Lithuanian 1% Slovak 1% Portuguese 1%
• Foreign-born: 25% · Canada, Dominican Republic
• Languages at home: 70% English-only · Spanish 28% Other Indo-European 1%

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: ▲ 5.92%
• Current HPI: 351.3324
• 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