7300 20th St #271 · West Vero Corridor, FL 32966

$159,900

3 bd · 2.0 ba · 1,352 sqft · Manufactured · 236 Days on market

Built 2023

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

55+ age qualified community. Tentatively available 3/1/2026. This home is currently occupied and can not be shown. THE HOME IS FOR SALE OR RENT. If purchased, NO LOT RENT UNTIL JUNE 1ST! IF RENTED, NO RENT UNTIL MAY1ST! WELCOME TO VILLAGE GREEN A 55+ AGE-QUALIFIED ACTIVE AND VIBRANT COMMUNITY where you can find yourself in your dream home. Discover the beautiful Ashville model, a 2023 3 bed, 2 bath home for sale or rent featuring 1342.00 sq ft of beautifully designed living space. A remarkable energy-certified home that boasts a smart thermostat and an upgraded LED lighting package provides increased efficiency. With a split floor plan, this stunning residence features two cozy bedrooms at

Key facts

• Built 2023
• Listed 236 days

Property features AI

Finance

• Financial info: Listed at $159,900

Exterior

• Home design: Spec inventory home — Ashville plan; Active listing
• Exterior features: Living area approximately 1352

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Virtual tour available

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $681 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 4.0% in West Vero Corridor — 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 74/100 on livability (#273 in FL, #4,421 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: schools F, amenities F, health & safety D-.
• 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 flat; 380 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 41% 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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 0.6% rent growth), your $45k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 236 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Recommended offer $140,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 236 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. 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?
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: 1.41% ✓
• Cap rate: 11.40%
• Cash-on-cash: 18.25%
• DSCR: 1.81
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.6% rent growth · sell at horizon

5-year hold

• IRR: 7.2%
• Equity multiple: 1.27×
• Total profit: $12,159
• Equity at exit: $23,842

10-year hold

• IRR: 14.3%
• Equity multiple: 2.02×
• Total profit: $45,717
• Equity at exit: $13,825

Cash invested: $44,772 (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 32966

• Home prices YoY: -26.7%
• Rents YoY: 0.6%
• Active inventory: 380
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,261 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $681

Break-even live

Break-even rent $1,399

Max offer price $159,900

Occupancy floor 65%

Sensitivity live

Price	-10% $791	-5% $736	+0% $681	+5% $626	+10% $570
Rent	-10% $502	-5% $592	+0% $681	+5% $770	+10% $859
Rate	-1.0pp $761	-0.5pp $722	base $681	+0.5pp $639	+1.0pp $597

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1924 Westminster Cir #6 Vero Beach, FL	2.0	3.0	1350	$2,000	$1.48	22d	1	0.33mi
1930 Westminster Cir #2 Vero Beach, FL	2.0	3.0	1430	$1,800	$1.26	22d	1	0.36mi
1827 Aynsley Way Unit 2-27 Vero Beach, FL	2.0	2.0	1500	$3,300	$2.20	22d	1	0.44mi
7580 Heron Cir Vero Beach, FL	1.0–3.0	1.0–2.0	1003	$2,467	$2.46	14d	21	0.46mi
24 Plantation Dr #201 Vero Beach, FL	2.0	2.0	1188	$1,750	$1.47	22d	1	0.52mi
28 Plantation Dr Vero Beach, FL	2.0	2.0	1188	$2,000	$1.68	22d	1	0.56mi
20 Plantation Dr #101 Vero Beach, FL	2.0	2.0	1188	$2,200	$1.85	22d	1	0.56mi
2050 Griffon Rd Vero Beach, FL	1.0–2.0	1.0–2.0	850	$2,295	$2.70	14d	31	0.63mi
42 Plantation Dr #103 Vero Beach, FL	2.0	2.0	1188	$1,900	$1.60	22d	1	0.64mi
43 Plantation Dr #106 Vero Beach, FL	2.0	2.0	1188	$1,850	$1.56	22d	1	0.67mi
39 Plantation Dr #101 Vero Beach, FL	2.0	2.0	1188	$2,200	$1.85	22d	1	0.68mi
29 Plantation Dr Vero Beach, FL	2.0	2.0	1188	$1,800	$1.52	22d	1	0.76mi
30 Plantation Dr #101 Vero Beach, FL	2.0	2.0	1188	$2,000	$1.68	22d	1	0.79mi
1625 Pointe West Way Vero Beach, FL	3.0	2.5	1600	$2,000	$1.25	22d	1	0.95mi
2590 Bella Vista Cir Vero Beach, FL	3.0	2.0	1624	$2,550	$1.57	22d	1	0.98mi
1930 Westhampton Ct Vero Beach, FL	2.0	2.0	1531	$1,950	$1.27	22d	1	1.01mi
6510 Oxford Cir #101 Vero Beach, FL	3.0	2.0	1746	$2,200	$1.26	22d	1	1.16mi
1868 Sixty Oaks Ln Vero Beach, FL	2.0	2.0	971	$2,450	$2.52	22d	1	1.43mi
1890 Tatnall Sq Vero Beach, FL	1.0–3.0	1.0–2.0	1098	$2,195	$2.00	14d	7	1.49mi
8415 22nd St Vero Beach, FL	2.0	2.0	1100	$2,000	$1.82	14d	1	1.50mi

Listing history 5 events

1. 2026-06-05
   days on market $159,900 Active 236 DOM
2. 2026-06-02
   days on market $159,900 Active 234 DOM
3. 2026-06-01
   days on market $159,900 Active 233 DOM
4. 2026-05-31
   days on market $159,900 Active 232 DOM
5. 2026-05-30
   days on market $159,900 Active 231 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $27,128
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$800
• − Repairs & maintenance: −$2,170
• − Management: −$2,170
• − Depreciation: −$4,652
• Taxable income: $5,981
• Est. tax owed @ 24.0%: −$1,435
• After-tax cash flow: $6,735/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 — West Vero Corridor

• Score: 74/100
• State rank: #273
• US rank: #4421

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Vero Corridor, FL
• County: Indian River County · 143,738 people
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 20,686
• Household income: $66,771
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 766.0

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 9% Two or more races 7% Black 5%
• Hispanic origin (detail): Puerto Rican 4% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 7% Russian/Polish/Slavic 1% 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: ▼ -102.01%
• Current HPI: 280.669
• Rent YoY: ▲ 0.60%
• 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