1334 Coral Park Ln #403 · Wabasso Beach, FL 32963

$400,000

2 bd · 2.0 ba · 1,551 sqft · Condo public records · 65 Days on market

Built 1987 $1156/mo HOA · 25% of rent

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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 +10.4/30.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Rent growth +5.0/5.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Rarely available one level 2-bedroom beach cottage located right across the street from beautiful beach. Coralstone has many amenities including deeded beach access, clubhouse, gym, saunas, kitchen, card room and much more. This end unit is sunny and bright and being sold turn key. Freshly painted with newer appliances. Walk-in shower in the primary bathroom. French doors out to the sunny screened porch. Vaulted ceilings & many windows make for a spacious and uplifting feeling. Great location close to the clubhouse, pool and beach. This is the home and lifestyle you have been dreaming about.

Key facts

• Sunny screen porch
• French doors
• Beach access

Tags

• BEACH ACCESS
• CLUBHOUSE WITH A GYM
• WALK-IN SHOWER
• FRENCH DOORS
• SUNNY SCREEN PORCH
• VAULTED CEILINGS

Property features AI

Finance

• Financial info: Pets allowed (with limits on number and size)
• HOA & community: Association: Elliott Merrill; Monthly association fee of $1,156 (dues paid quarterly); Association covers common areas, insurance, grounds and structure maintenance, parking, recreation facilities, reserve fund, security, and trash; Community amenities: clubhouse, fitness center, pool, tennis courts, pickleball, billiard room, on-site property manager

Exterior

• Parking: Assigned parking; Garage (1 space); Uncovered parking available
• Security: Gated community; Key card entry; Smoke detectors
• Utilities: Public water; County sewer
• Home design: Single-story unit; Property is attached
• Construction: Frame construction; Metal roof
• Exterior features: Screened patio; Patio; Community tennis courts; Pool (community, heated, electric heat); Beach access; Has a view; Faces south

Interior

• Kitchen: Range; Microwave; Dishwasher; Garbage disposal; Refrigerator; Electric water heater; Pantry
• Bedrooms: Bedroom 1 — 11 x 13; Bedroom 2 — 12 x 14
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: High ceilings with vaulted areas; Skylights; Skylight(s); Window treatments; Single-hung windows; French/Atrium doors; Closet cabinetry; Pantry; Split bedroom floorplan; Walk-in closet(s); Furnished
• Laundry & utility: In-unit laundry with washer and dryer; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $400k.

Deal economics

• At list price, monthly cash flow is $-282 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $350k (12.5% below list).
• Meets the 1% rule at list price ($5k rent vs $400k).
• Recommended offer: $350k (12.5% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 1.8% in Wabasso Beach — 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 63/100 on livability (#712 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A-; Watch: amenities F, commute F, cost of living F.
• 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.
• Market conditions: Rents rising fast (+11.0%/yr); 498 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).
• This rent runs 36% of the median local income ($150k/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 $3k of loan paydown is wiped out by about $12k 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 65 days — a 6% lower offer ($376k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $45k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $250k; list at $400k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 25% of rent.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $350,181 (12.5% 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 65 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.13% ✓
• Cap rate: 5.65%
• Cash-on-cash: -2.31%
• DSCR: 0.90
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.48×
• Total profit: $-58,054
• Equity at exit: $59,641

10-year hold

• IRR: 3.6%
• Equity multiple: 1.34×
• Total profit: $38,486
• Equity at exit: $34,585

Cash invested: $112,000 (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 32963

• Rents YoY: 11.0%
• Active inventory: 498
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $4,537 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$380 /mo · $4,557/yr
• Insurance: −$167
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,156
• Vacancy / Maint / Mgmt: −$953
• Net cashflow: $-282

Break-even live

Break-even rent $4,894

Max offer price $350,181

Occupancy floor —

Sensitivity live

Price	-10% $-56	-5% $-169	+0% $-282	+5% $-395	+10% $-508
Rent	-10% $-640	-5% $-461	+0% $-282	+5% $-103	+10% $76
Rate	-1.0pp $-81	-0.5pp $-180	base $-282	+0.5pp $-386	+1.0pp $-491

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1304 Coral Park Ln #102 Vero Beach, FL	2.0	2.5	1665	$4,000	$2.40	22d	1	0.04mi
1506 Coral Oak Ln #1303 Vero Beach, FL	2.0	2.5	1665	$3,000	$1.80	22d	1	0.04mi
8829 Lakeside Cir Vero Beach, FL	3.0	2.5	1819	$12,000	$6.60	14d	1	0.21mi
8823 Lakeside Cir Vero Beach, FL	2.0	2.0	1666	$11,000	$6.60	14d	1	0.23mi
8880 N Sea Oaks Way Vero Beach, FL	2.0–3.0	2.0–2.5	1801	$12,000	$6.66	14d	4	0.26mi
8859 Lakeside Cir Vero Beach, FL	3.0	3.5	2249	$13,000	$5.78	22d	1	0.26mi
8870 N Sea Oaks Way #306 Vero Beach, FL	3.0	2.5	1993	$15,000	$7.53	22d	1	0.28mi
8785 Lakeside Blvd Vero Beach, FL	3.0	2.0	1666	$12,500	$7.50	22d	1	0.30mi
1315 Palmetto Ct #111 Vero Beach, FL	2.0	2.5	1350	$12,000	$8.89	22d	1	0.30mi
8860 N Sea Oaks Way #105 Vero Beach, FL	3.0	2.5	2049	$16,000	$7.81	22d	1	0.33mi
8866 N Sea Oaks Way Vero Beach, FL	3.0	2.5	2049	$15,500	$7.56	22d	2	0.33mi
1415 Winding Oaks Cir W Unit A504 Vero Beach, FL	2.0	2.0	1337	$8,500	$6.36	22d	1	0.34mi
1415 Winding Oaks Cir W Unit A503 Vero Beach, FL	3.0	2.0	1440	$11,000	$7.64	22d	1	0.34mi
1460 Winding Oaks Cir W Unit 104 Vero Beach, FL	2.0	2.0	1337	$9,000	$6.73	22d	1	0.34mi
1400 Winding Oaks Cir W Unit A404 Vero Beach, FL	2.0	2.0	1456	$10,000	$6.87	22d	1	0.37mi
1155 Winding Oaks Cir E #102 Vero Beach, FL	1.0	2.0	1150	$8,500	$7.39	14d	1	0.38mi
1385 Winding Oaks Cir W #702 Vero Beach, FL	2.0	2.0	1272	$7,500	$5.90	22d	1	0.38mi
1941 W Shell Ln Vero Beach, FL	2.0	2.0	1309	$6,800	$5.19	14d	1	0.39mi
1195 Winding Oaks Cir E #308 Vero Beach, FL	2.0	2.0	1225	$9,000	$7.35	22d	1	0.40mi
1881 E Barefoot Pl Vero Beach, FL	2.0	2.0	1675	$10,000	$5.97	22d	1	0.40mi
1175 Winding Oaks Cir E #201 Vero Beach, FL	2.0	2.0	1130	$7,500	$6.64	14d	1	0.40mi
1215 Winding Oaks Cir E #408 Vero Beach, FL	2.0	2.0	1130	$8,500	$7.52	22d	1	0.41mi
8755 Windy Oaks Ct Vero Beach, FL	3.0	2.5	2100	$13,000	$6.19	22d	1	0.41mi
8745 Lakeside Blvd #103 Vero Beach, FL	2.0	2.0	1198	$9,000	$7.51	22d	1	0.42mi
8840 S Sea Oaks Way Unit 207B Vero Beach, FL	2.0	2.0	1350	$11,000	$8.15	22d	1	0.42mi
8840 S Sea Oaks Way Vero Beach, FL	2.0	2.0	1350	$12,500	$9.26	22d	2	0.43mi
8735 Lakeside Blvd #210 Vero Beach, FL	3.0	2.5	1963	$12,000	$6.11	22d	1	0.43mi
1295 Winding Oaks Cir E #807 Vero Beach, FL	2.0	2.0	1130	$7,250	$6.42	22d	1	0.44mi
1295 Winding Oaks Cir E #808 Vero Beach, FL	2.0	2.0	1130	$8,500	$7.52	22d	1	0.44mi
1235 Winding Oaks Cir E #505 Vero Beach, FL	2.0	2.0	1220	$8,500	$6.97	22d	1	0.45mi
1275 Winding Oaks Cir E #706 Vero Beach, FL	2.0	2.0	1350	$8,500	$6.30	22d	1	0.47mi
8830 S Sea Oaks Way Vero Beach, FL	2.0	2.0	1350	$10,500	$7.78	14d	2	0.47mi
1255 Winding Oaks Cir E #608 Vero Beach, FL	2.0	2.0	1261	$8,000	$6.34	14d	1	0.47mi
8738 Lakeside Blvd Vero Beach, FL	3.0	2.5	1937	$13,500	$6.97	14d	1	0.47mi
9470 Doubloon Dr Vero Beach, FL	3.0	2.5	2150	$18,000	$8.37	22d	1	0.53mi
8820 S Sea Oaks Way #204 Vero Beach, FL	3.0	3.0	2026	$17,000	$8.39	22d	1	0.55mi
8820 S Sea Oaks Way #202 Vero Beach, FL	3.0	2.5	2026	$17,000	$8.39	22d	1	0.55mi
9315 E Maiden Ct Vero Beach, FL	2.0	2.0	1745	$6,500	$3.72	14d	1	0.59mi
1830 E Sandpiper Rd Vero Beach, FL	3.0	2.0	1620	$12,000	$7.41	22d	1	0.59mi
2135 S Maiden Ln Vero Beach, FL	3.0	2.0	1815	$4,800	$2.64	14d	1	0.61mi

HOA detail condo

• Monthly dues: $1,156 · $13,872/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-19
   days on market $400,000 Active 65 DOM
2. 2026-06-18
   days on market $400,000 Active 64 DOM
3. 2026-06-17
   days on market $400,000 Active 63 DOM
4. 2026-06-16
   days on market $400,000 Active 62 DOM
5. 2026-06-15
   days on market $400,000 Active 61 DOM
6. 2026-06-14
   days on market $400,000 Active 59 DOM
7. 2026-06-13
   days on market $400,000 Active 58 DOM
8. 2026-06-10
   days on market $400,000 Active 56 DOM
9. 2026-06-09
   days on market $400,000 Active 55 DOM
10. 2026-06-08
    days on market $400,000 Active 54 DOM
11. 2026-06-07
    pricedays on market $400,000 Active 53 DOM
12. 2026-06-05
    days on market $445,000 Active 50 DOM
13. 2026-06-02
    days on market $445,000 Active 48 DOM
14. 2026-06-01
    days on market $445,000 Active 47 DOM
15. 2026-05-31
    days on market $445,000 Active 46 DOM
16. 2026-05-30
    days on market $445,000 Active 45 DOM
17. 2026-04-16
    listed $445,000 Active
18. 2026-04-12
    listed $445,000 Active
19. 2019-05-07
    soldstatus $250,000
20. 2008-06-04
    historical
21. 2007-12-07
    listed $325,000
22. 1988-05-01
    soldstatus $167,700

ⓘ 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: $4,557 · $380/mo
• Projected year-2 tax: $4,557 · $380/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 (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 23 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: $54,448
• − Mortgage interest: −$22,406
• − Property taxes: −$4,557
• − Insurance: −$2,798
• − Repairs & maintenance: −$4,356
• − Management: −$4,356
• − HOA: −$13,872
• − Depreciation: −$11,636
• Taxable loss: −$9,533
• Est. tax savings @ 24.0%: +$2,288
• After-tax cash flow: $-1,096/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 — Wabasso Beach

• Score: 63/100
• State rank: #712
• US rank: #15157

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wabasso Beach, FL
• County: Indian River County · 143,738 people
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 15,008
• Household income: $149,923
• Rent vs Own: 4.9% rent · 95.1% own
• Severe rent burden: 119.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Slovak 5% Lithuanian 4% Italian 3%
• Foreign-born: 9% · Canada
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 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: ▼ -180.47%
• Current HPI: 312.0326
• Rent YoY: ▲ 11.04%
• 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

+165.4% since first listed

6 events — show timeline

• 2026-04-16 Listed $445,000 SCMLS
• 2026-04-12 Listed $445,000 RAIRCMLS
• 2019-05-07 Sold (Public Records) $250,000 Public Records
• 2008-06-04 Listing Removed — Beaches MLS
• 2007-12-07 Listed $325,000 Beaches MLS
• 1988-05-01 Sold (Public Records) $167,700 Public Records

Property tax history

+5.3%/yr

Latest (2025): $4,557 · +5.4% YoY. Source: county tax records.