13998 Encantardo Cir · Vero Beach South, FL 34951

$39,900

2 bd · 3.0 ba · 1,248 sqft · Manufactured · 206 Days on market

Built 1989 ↓ 9% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

6 months free lot rent for the next buyer. Charming Spanish Lakes Fairways home with a split floor plan 2 bedrooms and Flex room! This park-owned property offers low lot rent of just $649/month. Inside, enjoy modern laminate flooring throughout, a screened-in small patio, and a clean, move-in-ready space. Residents enjoy community amenities including free golf, clubhouse with pool and fitness center, tennis, pickleball, shuffleboard, bocce, and regular social events. Perfect opportunity for affordable, comfortable 55+ living! Close to clubhouse and rec department.

Key facts

• Fitness center
• Community amenities
• Split floor plan

Tags

• SPLIT FLOOR PLAN
• MODERN LAMINATE FLOORING
• SCREENED IN SMALL PATIO
• COMMUNITY AMENITIES
• CLUBHOUSE WITH POOL
• FITNESS CENTER

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Senior community

Exterior

• Parking: Attached carport; Carport
• Utilities: Three-phase electric; Cable available
• Home design: Manufactured home; Single-story; Faces south; Resale condition
• Construction: Modular construction
• Exterior features: Screened patio; Patio

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate
• Bathrooms: 2 full bathrooms; 2 half bathrooms (4 total bathrooms)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Unfurnished
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath manufactured listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 48.8% 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.
• 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: 296 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• This rent runs 41% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 206 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $4k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $35,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 206 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 5.36% ✓
• Cap rate: 48.82%
• Cash-on-cash: 151.90%
• DSCR: 7.76
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $26,208
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13981 Gorrion Ct	0.30mi	2/2.0	1,150 (-8%)	1mo	$48,500	$42	68
6539 Spanish Lakes Blvd	0.69mi	2/2.0	1,200 (-4%)	3mo	$24,987	$21	55
14461 Azucena Ct	0.56mi	2/2.0	1,300 (+4%)	11mo	$15,000	$12	54
14297 Zorzal Ave	0.41mi	2/2.0	1,352 (+8%)	13mo	$48,195	$36	52
14063 Cancun Ave	0.33mi	2/2.0	1,144 (-8%)	24mo	$20,495	$18	47

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: —
• Equity multiple: 8.49×
• Total profit: $83,635
• Equity at exit: $5,949

10-year hold

• IRR: —
• Equity multiple: 17.91×
• Total profit: $188,936
• Equity at exit: $3,450

Cash invested: $11,172 (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 34951

• Home prices YoY: -23.6%
• Active inventory: 296
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $2,139 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $1,414

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 29%

Sensitivity live

Price	-10% $1,442	-5% $1,428	+0% $1,414	+5% $1,400	+10% $1,387
Rent	-10% $1,245	-5% $1,330	+0% $1,414	+5% $1,499	+10% $1,583
Rate	-1.0pp $1,434	-0.5pp $1,424	base $1,414	+0.5pp $1,404	+1.0pp $1,393

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6765 Spanish Lakes Blvd Fort Pierce, FL	2.0	2.0	1368	$2,500	$1.83	25d	1	0.97mi

Listing history 23 events

1. 2026-06-21
   days on market $39,900 Active 206 DOM
2. 2026-06-18
   days on market $39,900 Active 203 DOM
3. 2026-06-17
   days on market $39,900 Active 202 DOM
4. 2026-06-16
   days on market $39,900 Active 201 DOM
5. 2026-06-15
   days on market $39,900 Active 200 DOM
6. 2026-06-14
   days on market $39,900 Active 198 DOM
7. 2026-06-13
   days on market $39,900 Active 197 DOM
8. 2026-06-10
   days on market $39,900 Active 195 DOM
9. 2026-06-09
   days on market $39,900 Active 194 DOM
10. 2026-06-08
    days on market $39,900 Active 193 DOM
11. 2026-06-07
    days on market $39,900 Active 192 DOM
12. 2026-06-05
    days on market $39,900 Active 189 DOM
13. 2026-06-03
    days on market $39,900 Active 188 DOM
14. 2026-06-02
    days on market $39,900 Active 187 DOM
15. 2026-06-01
    days on market $39,900 Active 186 DOM
16. 2026-05-31
    days on market $39,900 Active 185 DOM
17. 2026-05-30
    days on market $39,900 Active 184 DOM
18. 2026-05-15
    price $39,900
19. 2026-05-14
    status Active
20. 2026-05-13
    historical
21. 2026-04-15
    price $43,750
22. 2026-04-03
    price $43,900
23. 2025-11-25
    listed $44,000 Active

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $25,669
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$2,054
• − Management: −$2,054
• − Depreciation: −$1,161
• Taxable income: $17,368
• Est. tax owed @ 24.0%: −$4,168
• After-tax cash flow: $12,801/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 — 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

• County: Saint Lucie County · 337,150 people
• Metro: Port St. Lucie, FL
• Population (ZIP): 17,148
• Household income: $63,122
• Rent vs Own: 11.7% rent · 88.3% own
• Severe rent burden: 140.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Black 13% Hispanic / Latino 8% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 2%
• Foreign-born: 10% · Canada, Jamaica, Vietnam
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 3% Vietnamese 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: ▼ -106.06%
• Current HPI: 343.1376
• 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

-9.3% since first listed

6 events — show timeline

• 2026-05-15 Price Changed $39,900 Beaches MLS
• 2026-05-14 Relisted — Beaches MLS
• 2026-05-13 Listing Removed — Beaches MLS
• 2026-04-15 Price Changed $43,750 Beaches MLS
• 2026-04-03 Price Changed $43,900 Beaches MLS
• 2025-11-25 Listed $44,000 Beaches MLS