40 Florida Way · River Park, FL 34952

$109,000

3 bd · 2.5 ba · 1,056 sqft · Manufactured · 2 Days on market

Built 1974

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience the best of Florida living in this delightful mobile home located in the highly desirable 55+ community of Spanish Lakes One in Port St. Lucie, FL. Featuring stylish vinyl flooring throughout, this residence showcases a beautifully renovated kitchen equipped with brand-new appliances, a sleek modern backsplash, and ample storage space. With 3 spacious bedrooms and 2.5 well-appointed bathrooms, there's abundant space to accommodate guests in comfort. Perfect for both quiet relaxation and lively gatherings, this home offers the ideal blend of charm, convenience, and welcoming warmth.

Key facts

• Ample storage space
• Brand new appliances
• Renovated kitchen

Tags

• RENOVATED KITCHEN
• BRAND NEW APPLIANCES
• MODERN BACKSPLASH
• AMPLE STORAGE SPACE

Property features AI

Finance

• HOA & community: Has association; Monthly HOA includes trash, common areas, common real estate tax, golf, and recreation facility; Community amenities include pool, tennis courts, pickleball court(s), basketball court, shuffleboard court, manager on site, cafe/restaurant, and library; Senior community

Exterior

• Parking: Attached carport; Carport available
• Utilities: Public water; Public sewer; Cable available; Water available; Sewer available
• Home design: Mobile home; Single-story; Entry-level living area; Facing northeast
• Construction: Metal roof; Aluminum skirt
• Exterior features: Shed(s); No waterfront

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Ceramic tile; Vinyl; Wood
• Bathrooms: 2 full bathrooms and 1 half bathroom (3 total, all on main level)
• Heating & cooling: Central heating; Central air; Ceiling fans; Wall/window unit(s)
• Interior features: Walk-in closets; Closet cabinetry; Furnished
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath manufactured listed at $109k.

Deal economics

• At list price, monthly cash flow is $878 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Cap rate 16.0% vs local median 6.4% in River Park — 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 69/100 on livability (#451 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A-; Watch: schools F, amenities F, employment 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: Rents rising (+1.9%/yr); 646 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• This rent runs 40% of the median local income ($62k/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 $754 of loan paydown is wiped out by about $3k 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 + 1.9% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $21k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $44k; list at $109k implies a 151% 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 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-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. 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.
5. 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.
6. 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: 1.89% ✓
• Cap rate: 15.96%
• Cash-on-cash: 34.53%
• DSCR: 2.54
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $33,792
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Oro Grande Way	0.22mi	2/2.0 (-1)	1,088 (+3%)	6mo	$45,000	$41	72
37 El Camino Real	0.20mi	2/2.0 (-1)	984 (-7%)	1mo	$15,000	$15	71
31 Huarte Way	0.21mi	2/2.0 (-1)	1,188 (+12%)	3mo	$45,000	$38	60
46 Spanish Way	0.30mi	2/2.0 (-1)	984 (-7%)	13mo	$15,000	$15	57
66 Spanish Way	0.37mi	2/2.0 (-1)	984 (-7%)	14mo	$28,900	$29	53
7 Reforma Ln	0.27mi	2/2.0 (-1)	1,150 (+9%)	20mo	$37,000	$32	50
12 Nuestra Calle Ln	0.67mi	2/2.0 (-1)	984 (-7%)	6mo	$26,000	$26	46
25 Rio Verde Way	0.35mi	2/2.0 (-1)	1,200 (+14%)	22mo	$64,900	$54	36
45 Mediterranean Blvd W	0.47mi	2/2.0 (-1)	1,200 (+14%)	24mo	$38,000	$32	28

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 · 1.92% rent growth · sell at horizon

5-year hold

• IRR: 28.8%
• Equity multiple: 2.18×
• Total profit: $36,084
• Equity at exit: $16,252

10-year hold

• IRR: 35.5%
• Equity multiple: 4.10×
• Total profit: $94,660
• Equity at exit: $9,424

Cash invested: $30,520 (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 34952

• Home prices YoY: -29.6%
• Rents YoY: 1.9%
• Active inventory: 646
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,065 high
• Mortgage (P&I): −$572
• Tax est. 1.5%: −$136 /mo · $1,635/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $878

Break-even live

Break-even rent $954

Max offer price $109,000

Occupancy floor 52%

Sensitivity live

Price	-10% $954	-5% $916	+0% $878	+5% $841	+10% $803
Rent	-10% $715	-5% $797	+0% $878	+5% $960	+10% $1,041
Rate	-1.0pp $933	-0.5pp $906	base $878	+0.5pp $850	+1.0pp $821

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1900 Bella Vista Way Port Saint Lucie, FL	1.0–2.0	1.0–2.0	995	$1,764	$1.77	15d	15	0.77mi
7700 Pine Lakes Blvd Port Saint Lucie, FL	1.0–3.0	1.0–2.0	1022	$2,212	$2.16	15d	16	0.90mi
124 E Arbor Ave Port Saint Lucie, FL	3.0	1.0	964	$2,550	$2.65	15d	1	1.13mi
14 Lake Vista Trl #101 Port Saint Lucie, FL	2.0	2.0	1170	$2,200	$1.88	24d	1	1.15mi
11 Lake Vista Trl #206 Port Saint Lucie, FL	2.0	2.0	1080	$1,400	$1.30	24d	1	1.21mi
26 Lake Vista Trl #201 Port Saint Lucie, FL	2.0	2.0	1170	$1,500	$1.28	24d	1	1.24mi
4 Lake Vista Trl #202 Port Saint Lucie, FL	2.0	2.0	1080	$1,700	$1.57	22d	1	1.35mi
2 Lake Vista Trl #107 Port Saint Lucie, FL	2.0	2.0	1170	$1,850	$1.58	24d	1	1.39mi
1 Lake Vista Trl #201 Port Saint Lucie, FL	2.0	2.0	1170	$1,800	$1.54	24d	1	1.40mi
326 Shady Ln Port Saint Lucie, FL	3.0	2.0	1030	$2,250	$2.18	24d	1	1.46mi

Listing history 31 events

1. 2026-06-21
   remarks 599-char remark
2. 2026-06-21
   pricedays on marketlisting id $109,000 Active 2 DOM
3. 2026-06-18
   days on market $119,900 Active 200 DOM
4. 2026-06-17
   days on market $119,900 Active 199 DOM
5. 2026-06-16
   days on market $119,900 Active 198 DOM
6. 2026-06-15
   days on market $119,900 Active 197 DOM
7. 2026-06-14
   days on market $119,900 Active 195 DOM
8. 2026-06-13
   days on market $119,900 Active 194 DOM
9. 2026-06-10
   days on market $119,900 Active 192 DOM
10. 2026-06-09
    days on market $119,900 Active 191 DOM
11. 2026-06-08
    days on market $119,900 Active 190 DOM
12. 2026-06-07
    days on market $119,900 Active 189 DOM
13. 2026-06-05
    days on market $119,900 Active 186 DOM
14. 2026-06-03
    days on market $119,900 Active 185 DOM
15. 2026-06-02
    days on market $119,900 Active 184 DOM
16. 2026-06-01
    days on market $119,900 Active 183 DOM
17. 2026-05-31
    days on market $119,900 Active 182 DOM
18. 2026-05-30
    days on market $119,900 Active 181 DOM
19. 2026-01-28
    price $119,900
20. 2025-11-29
    listed $129,900 Active
21. 2025-05-01
    historical
22. 2025-03-26
    price $129,900
23. 2025-03-11
    price $139,900
24. 2025-03-11
    status Active
25. 2025-03-11
    historical
26. 2024-10-23
    listed $149,000 Active
27. 2023-12-29
    historical
28. 2023-03-28
    listed $149,900 Active
29. 2022-04-22
    soldstatus $43,500 Closed
30. 2022-04-12
    status Pending
31. 2022-04-05
    listed $49,000 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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 6 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,783
• − Mortgage interest: −$6,106
• − Property taxes: −$1,635
• − Insurance: −$545
• − Repairs & maintenance: −$1,983
• − Management: −$1,983
• − Depreciation: −$3,171
• Taxable income: $9,361
• Est. tax owed @ 24.0%: −$2,247
• After-tax cash flow: $8,292/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 — River Park

• Score: 69/100
• State rank: #451
• US rank: #8159

Category grades

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

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): 42,655
• Household income: $61,628
• Rent vs Own: 25.8% rent · 74.2% own
• Severe rent burden: 1759.0

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 0.57)
• Race & ethnicity: White 62% Hispanic / Latino 19% Two or more races 14% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 2% Dominican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Hispanic 1%
• Foreign-born: 18% · Canada, Jamaica, China
• Languages at home: 76% English-only · Spanish 16% French/Haitian/Cajun 3% Tagalog/Filipino 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: ▼ -155.80%
• Current HPI: 371.0573
• Rent YoY: ▲ 1.92%
• 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

+144.7% since first listed

13 events — show timeline

• 2026-01-28 Price Changed $119,900 Beaches MLS
• 2025-11-29 Listed $129,900 Beaches MLS
• 2025-05-01 Listing Removed — Beaches MLS
• 2025-03-26 Price Changed $129,900 Beaches MLS
• 2025-03-11 Price Changed $139,900 Beaches MLS
• 2025-03-11 Relisted — Beaches MLS
• 2025-03-11 Listing Removed — Beaches MLS
• 2024-10-23 Listed $149,000 Beaches MLS
• 2023-12-29 Listing Removed — Beaches MLS
• 2023-03-28 Listed $149,900 Beaches MLS
• 2022-04-22 Sold (MLS) $43,500 Beaches MLS
• 2022-04-12 Pending — Beaches MLS
• 2022-04-05 Listed $49,000 Beaches MLS