68 W Caribbean · Port St. Lucie, FL 34952

$74,900

2 bd · 2.0 ba · 1,620 sqft · Manufactured · 97 Days on market

Built 1979 Est $81k · 8% under

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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
• ARV discount +10.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.7/10.0
• Rent growth +3.0/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 68 W Caribbean in the desirable Spanish Lakes Golf Village, one of the area's most sought after 55+ communities. This charming 2-bedroom, 2-bath manufactured home offers a rare blend of comfort and convenience. Truly a standout in the neighborhood. If storage is at the top of your wish list, this is the home for you. It's one of the few properties featuring a double driveway and extensive storage space, eliminating the need for an off-site unit. Inside, you'll find a spacious living area filled with natural light, while the large primary suite includes a walk in closet and a private en suite bath. Step outside and enjoy peaceful mornings or breezy evenings overlooking the golf co

Key facts

• Storage
• Walk-in closet
• Lawn maintenance

Tags

• STORAGE
• WALK-IN CLOSET
• EN-SUITE BATH
• GOLF COURSE
• LAWN MAINTENANCE
• UNLIMITED GOLF

Property features AI

Finance

• Other: Directions: After entering Spanish Lakes Golf Village from Village Green Drive, turn right onto West Caribbean at 2nd stop sign. Home is on the left.
• Financial info: Land lease of $1,000 per month (lease expires 2027-06-01); Pets not allowed
• HOA & community: Association: Spanish Lakes; Annual association fee; Association amenities include: clubhouse, pool (heated), fitness center, golf course, tennis courts, shuffleboard court, billiard room, game room, cafe/restaurant, community room, library, lobby, storage, workshop area, manager on site, street lights, recreation facilities, kitchen facilities, pool service, management; Senior community

Exterior

• Parking: 4 total parking spaces; 2 covered spaces; 2 open spaces; Attached carport; Detached garage; Driveway; Garage; Carport
• Security: Security patrol
• Utilities: Public water; Public sewer; Cable available; Electricity available; Sewer connected; Underground utilities; Water available
• Home design: Manufactured home (double wide); One story; Faces south; Resale condition
• Construction: 59 ft by 24 ft; Vinyl siding; Metal roof; Mobile home on site
• Exterior features: Paved road access; Not waterfront; Other skirting

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate; Linoleum; Wood
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Walk-in closets; Unfurnished
• Laundry & utility: Inside laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $68k (9.0% below list) — sets the bar for market timing.
• Cap rate 23.2% vs local median 3.9% in Port St. Lucie — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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); 639 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 39% 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 $518 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $5k (6%) 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,159 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 2.66% ✓
• Cap rate: 23.21%
• Cash-on-cash: 60.40%
• DSCR: 3.69
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $81,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
172 W Carribean	0.55mi	2/2.0	1,650 (+2%)	8mo	$9,500	$6	64
110 W Caribbean	0.35mi	2/2.0	1,416 (-13%)	5mo	$77,500	$55	58
8522 Leadtree Ct	0.50mi	2/2.0	1,550 (-4%)	15mo	$245,000	$158	57
16 Nuevo Leon Rd	0.28mi	3/2.0 (+1)	1,500 (-7%)	19mo	$69,000	$46	54
7 Indies	0.25mi	2/2.0	1,468 (-9%)	24mo	$33,000	$22	53
29 San Marino Way	0.35mi	2/2.0	1,468 (-9%)	20mo	$22,000	$15	51
166 W West Caribbean	0.53mi	2/2.0	1,450 (-10%)	14mo	$38,000	$26	46
192 W Caribbean	0.62mi	2/2.0	1,416 (-13%)	6mo	$49,000	$35	45
8526 Lidflower Ct	0.48mi	3/2.5 (+1)	1,404 (-13%)	6mo	$70,900	$50	43
8483 Labelia Ct	0.61mi	2/2.0	1,456 (-10%)	15mo	$265,000	$182	42
8394 Delphinium Ct	0.70mi	3/2.0 (+1)	1,392 (-14%)	4mo	$220,000	$158	36
188 W West Caribbean W	0.61mi	2/2.0	1,400 (-14%)	17mo	$106,000	$76	35

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: 58.0%
• Equity multiple: 3.53×
• Total profit: $52,988
• Equity at exit: $11,168

10-year hold

• IRR: 62.4%
• Equity multiple: 6.92×
• Total profit: $124,243
• Equity at exit: $6,476

Cash invested: $20,972 (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: 639
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,992 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,124/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $1,056

Break-even live

Break-even rent $655

Max offer price $74,900

Occupancy floor 42%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
71 W Caribbean Port St. Lucie, FL	2.0	2.0	1417	$1,700	$1.20	23d	1	0.15mi
1811 SE Walton Lakes Dr Port Saint Lucie, FL	2.0	1.0–2.0	1117	$1,926	$1.72	14d	6	0.17mi
2082 SE Wild Meadow Cir Port Saint Lucie, FL	2.0	2.0	1524	$1,850	$1.21	23d	1	0.32mi
2058 SE Wild Meadow Cir #101 Port St Lucie, FL	2.0	2.5	1425	$2,200	$1.54	14d	1	0.35mi
2130 SE Wild Meadow Cir Port Saint Lucie, FL	2.0	2.0	1440	$1,695	$1.18	14d	1	0.43mi
2183 SE Wild Meadow Cir Port Saint Lucie, FL	2.0	2.0	1550	$1,900	$1.23	14d	1	0.44mi
1810 SE Pinewood Trl Port Saint Lucie, FL	1.0–2.0	1.0–2.0	1013	$2,055	$2.03	14d	7	0.48mi
2209 SE East Dunbrooke Cir Port Saint Lucie, FL	3.0	2.0	1212	$2,950	$2.43	14d	1	0.67mi
3784 Sapodilla Ct Port Saint Lucie, FL	2.0	2.0	1121	$2,300	$2.05	23d	1	0.74mi
1500 SE Tiffany Club Pl Port Saint Lucie, FL	1.0–3.0	1.0–2.0	895	$1,922	$2.15	14d	7	0.74mi
1900 Bella Vista Way Port Saint Lucie, FL	1.0–2.0	1.0–2.0	995	$1,764	$1.77	14d	15	0.95mi
1618 SE Elkhart Ter Port Saint Lucie, FL	3.0	2.0	1176	$2,200	$1.87	23d	1	1.07mi
2051 SE Hillmoor Dr Port Saint Lucie, FL	1.0–2.0	1.0–2.0	1014	$2,539	$2.50	23d	15	1.25mi
1900 SE Hillmoor Dr Port Saint Lucie, FL	2.0–3.0	2.0–2.5	1182	$1,799	$1.52	14d	14	1.28mi
9905 S US Highway 1 Port Saint Lucie, FL	1.0–2.0	1.0–2.0	966	$2,239	$2.32	14d	15	1.31mi
2061 SE Glen Ridge Dr Port Saint Lucie, FL	2.0	2.5	1350	$1,925	$1.43	23d	1	1.33mi
301 SE Castle Ct Port St. Lucie, FL	2.0	2.5	1688	$2,900	$1.72	23d	1	1.34mi

Listing history 20 events

1. 2026-06-18
   days on market $74,900 Active 97 DOM
2. 2026-06-17
   days on market $74,900 Active 96 DOM
3. 2026-06-16
   days on market $74,900 Active 95 DOM
4. 2026-06-15
   days on market $74,900 Active 94 DOM
5. 2026-06-14
   days on market $74,900 Active 92 DOM
6. 2026-06-13
   days on market $74,900 Active 91 DOM
7. 2026-06-10
   days on market $74,900 Active 89 DOM
8. 2026-06-09
   days on market $74,900 Active 88 DOM
9. 2026-06-08
   days on market $74,900 Active 87 DOM
10. 2026-06-07
    days on market $74,900 Active 86 DOM
11. 2026-06-05
    days on market $74,900 Active 83 DOM
12. 2026-06-03
    days on market $74,900 Active 82 DOM
13. 2026-06-02
    days on market $74,900 Active 81 DOM
14. 2026-06-01
    days on market $74,900 Active 80 DOM
15. 2026-05-31
    days on market $74,900 Active 79 DOM
16. 2026-05-30
    days on market $74,900 Active 78 DOM
17. 2026-04-08
    price $74,900
18. 2026-03-13
    listed $80,000 Active
19. 2011-03-17
    historical
20. 2011-03-09
    listed $8,000

ⓘ 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 ≥106°F today · 22 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: $23,898
• − Mortgage interest: −$4,196
• − Property taxes: −$1,124
• − Insurance: −$374
• − Repairs & maintenance: −$1,912
• − Management: −$1,912
• − Depreciation: −$2,179
• Taxable income: $12,202
• Est. tax owed @ 24.0%: −$2,928
• After-tax cash flow: $9,740/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 — Port St. Lucie

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Port St. Lucie, FL
• County: Saint Lucie County · 337,150 people
• City population: 221,051
• 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

+836.3% since first listed

4 events — show timeline

• 2026-04-08 Price Changed $74,900 Beaches MLS
• 2026-03-13 Listed $80,000 Beaches MLS
• 2011-03-17 Listing Removed — Beaches MLS
• 2011-03-09 Listed $8,000 Beaches MLS