2635 5th St · Vero Beach South, FL 32962

$274,999

3 bd · 2.0 ba · 1,178 sqft · SingleFamily public records · 3 Days on market

Built 1981 9,148 sqft lot Est $292k · 6% under

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Why this score? — see what drove the C- 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 +19.8/30.0
• ARV discount +10.1/15.0
• DSCR +6.3/10.0
• Schools +4.2/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to easy Florida living in this very well-maintained home located in a quiet Vero Beach suburban neighborhood. Designed with both comfort and functionality in mind this property features a desirable split floor plan, 2 bedrooms, 2 full bathrooms, two separate living areas and 1,178 sq ft of space that provides flexibility for entertaining, working from home or simply spreading out to relax. One of the home's most inviting features is the oversized screened front porch that stretches across the entire front of the house, creating a spacious outdoor living area to enjoy your morning coffee, evening breezes or time with family & friends. For added peace of mind, the home is equipp

Key facts

• Metal roof
• Split floor plan
• Neatly kept yard

Tags

• SPLIT FLOOR PLAN
• OVERSIZED SCREENED FRONT PORCH
• ACCORDION STORM SHUTTERS
• METAL ROOF
• MATURE LANDSCAPING
• NEATLY KEPT YARD

Property features AI

Finance

• Other: Lot approx. 0.21 acres (75 ft x 120 ft)

Exterior

• Parking: Attached garage (1 car)
• Security: Closed-circuit camera system
• Utilities: Public sewer; Water connected; Electricity connected; Cable connected
• Home design: Single family residence; Faces north
• Construction: Block and stucco construction; Metal roof
• Exterior features: Storm shutters; Closed-circuit camera system

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Split bedrooms; Walk-in closets; Front porch
• Laundry & utility: Washer included; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (9.2% below list).
• Recommended offer: $250k (9.2% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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.
• 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.
• Zoned schools: Citrus Elementary School (math 52% / reading 52%, grade C-, #990 of 2,144 statewide, top 48%, 666 students, 78% FRL); Oslo Middle School (math 39% / reading 45%, grade D-, #340 of 571 statewide, top 61%, 864 students, 72% FRL); Vero Beach High School (math 28% / reading 43%, grade F, #367 of 667 statewide, top 57%, 2,847 students, 50% FRL).
• Market conditions: Rents rising fast (+4.2%/yr); 351 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).
• This rent runs 45% of the median local income ($67k/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 $2k of loan paydown is wiped out by about $8k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $53k; list at $275k implies a 419% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $249,802 (9.2% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.91% ✗
• Cap rate: 7.72%
• Cash-on-cash: 5.11%
• DSCR: 1.23
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $292,144
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
525 22nd Ave	0.30mi	3/2.0	1,150 (-2%)	2mo	$260,000	$226	80
306 35th Ave	0.59mi	3/2.0	1,186 (+1%)	3mo	$240,000	$202	69
585 24th Ave	0.16mi	3/2.0	1,338 (+14%)	2mo	$340,000	$254	69
2545 1st Pl N	0.47mi	3/2.0	1,232 (+5%)	4mo	$305,500	$248	67
2431 4th Pl	0.19mi	2/2.0 (-1)	1,041 (-12%)	3mo	$287,000	$276	64
355 20th Ave	0.46mi	2/2.0 (-1)	1,224 (+4%)	4mo	$235,000	$192	64
3196 1st Ln	0.54mi	3/2.0	1,274 (+8%)	2mo	$232,000	$182	59
805 36th Ave	0.73mi	3/2.0	1,107 (-6%)	5mo	$285,000	$257	52
3246 1st St	0.67mi	2/2.0 (-1)	1,117 (-5%)	6mo	$225,900	$202	50
506 20th Ct	0.42mi	2/1.5 (-1)	1,009 (-14%)	1mo	$265,000	$263	49
2424 1st Pl SW	0.68mi	3/2.0	1,325 (+12%)	0mo	$175,000	$132	47
925 27th Ave	0.55mi	2/1.0 (-1)	1,040 (-12%)	3mo	$330,000	$317	44

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 · 4.18% rent growth · sell at horizon

5-year hold

• IRR: -7.2%
• Equity multiple: 0.73×
• Total profit: $-20,808
• Equity at exit: $41,003

10-year hold

• IRR: 3.6%
• Equity multiple: 1.27×
• Total profit: $20,887
• Equity at exit: $23,777

Cash invested: $77,000 (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 32962

• Rents YoY: 4.2%
• Active inventory: 351
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,498 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$89 /mo · $1,068/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $328

Break-even live

Break-even rent $2,083

Max offer price $274,999

Occupancy floor 82%

Sensitivity live

Price	-10% $483	-5% $406	+0% $328	+5% $250	+10% $172
Rent	-10% $130	-5% $229	+0% $328	+5% $426	+10% $525
Rate	-1.0pp $466	-0.5pp $398	base $328	+0.5pp $256	+1.0pp $184

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 27th Ct Vero Beach, FL	3.0	2.0	1100	$1,850	$1.68	15d	1	0.16mi
3285 3rd Pl Unit 1018166P Vero Beach, FL	3.0	2.0	1420	$3,708	$2.61	15d	1	0.48mi
1816 5th Pl Unit 1018162P Vero Beach, FL	2.0	2.0	1323	$3,841	$2.90	23d	1	0.54mi
1702 7th St Vero Beach, FL	3.0	2.0	1230	$2,100	$1.71	15d	1	0.67mi
2624 2nd St SW Vero Beach, FL	2.0	1.0	748	$1,750	$2.34	15d	1	0.71mi
275 16th Ave Vero Beach, FL	2.0	2.0	1144	$1,600	$1.40	15d	1	0.74mi
248 27th Ave SW Vero Beach, FL	3.0	2.0	836	$1,700	$2.03	23d	1	0.80mi
1330 28th Ave Vero Beach, FL	3.0	2.0	1488	$3,200	$2.15	23d	1	1.05mi
3673 2nd Pl SW Vero Beach, FL	3.0	2.0	1410	$4,800	$3.40	15d	1	1.15mi
3673 2nd Pl SW Vero Beach, FL	3.0	2.0	1410	$4,800	$3.40	23d	1	1.15mi
1306 12th St Unit B Vero Beach, FL	2.0	1.0	1000	$1,600	$1.60	23d	1	1.24mi
1136 9th Sq Unit 1467671P Vero Beach, FL	3.0	2.0	1399	$4,165	$2.98	23d	1	1.25mi
2616 15th St Vero Beach, FL	2.0	2.0	1268	$2,400	$1.89	15d	1	1.27mi
1406 36th Ave Vero Beach, FL	2.0	2.5	1284	$2,150	$1.67	23d	1	1.28mi
1406 36th Ave Vero Beach, FL	2.0	2.5	1284	$2,000	$1.56	15d	1	1.28mi
1408 36th Ave Unit 1408 Vero Beach, FL	2.0	2.5	1284	$2,150	$1.67	23d	1	1.28mi
1616 24th Ave Vero Beach, FL	3.0	2.0	1430	$2,495	$1.74	15d	1	1.43mi
2543 Stockbridge Sq SW Vero Beach, FL	3.0	2.0	1464	$2,200	$1.50	15d	1	1.47mi

Listing history 3 events

1. 2026-06-22
   days on market $274,999 Active 3 DOM
2. 2026-06-19
   remarks 695-char remark
3. 2026-06-19
   listed $274,999 Active 1 DOM

ⓘ 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: $1,068 · $89/mo
• Projected year-2 tax: $2,282 · $190/mo
• Expected delta: +$1,214/yr (+$101/mo · 113.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $29,976
• − Mortgage interest: −$15,404
• − Property taxes: −$1,068
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,398
• − Management: −$2,398
• − Depreciation: −$8,000
• Taxable loss: −$667
• Est. tax savings @ 24.0%: +$160
• After-tax cash flow: $4,093/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 — 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

• Census place: Vero Beach South, FL
• County: Indian River County · 143,738 people
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 25,522
• Household income: $66,664
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 425.0

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 (70%)
• Race & ethnicity: White 70% Black 13% Hispanic / Latino 12% Two or more races 5% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 4% Lithuanian 4% Italian 3%
• Foreign-born: 12% · Canada, Jamaica, Dominican Republic
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -182.13%
• Current HPI: 333.3274
• Rent YoY: ▲ 4.18%
• 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

+343.5% since first listed

3 events — show timeline

• 2026-06-17 Listed $274,999 SCMLS
• 1988-05-01 Sold (Public Records) $53,000 Public Records
• 1985-01-01 Sold (Public Records) $62,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,068 · +30.6% YoY. Source: county tax records.