323 Pineapple St · Sebastian, FL 32958

$130,000

2 bd · 1.0 ba · 920 sqft · Manufactured public records · 126 Days on market

Built 1962 Est $169k · 23% 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 +29.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Schools +4.2/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable manufactured home in desirable Sebastian with NO HOA and no restrictions, making it ideal for investors or rental income. This 2-bedroom, 1-bath home sits on a larger cul-de-sac lot offering privacy and flexibility. Located just a stone’s throw from the Indian River, enjoy coastal breezes with nearby boating, fishing, and waterfront parks. Plenty of outdoor space with room to expand, personalize, or store a boat or RV. Close to dining, shopping, and local attractions.

Key facts

• Cul-de-sac lot
• Nearby boating
• Waterfront parks

Tags

• CUL-DE-SAC LOT
• OUTDOOR SPACE
• NEARBY BOATING
• NEARBY FISHING
• WATERFRONT PARKS
• CLOSE TO DINING

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: No association (N/A)

Exterior

• Parking: Assigned parking; Additional parking; Driveway; Uncovered; Boat parking; RV access/parking; Two parking spaces
• Utilities: Public water; Public sewer
• Home design: Manufactured home; Single-story; Faces east
• Construction: Metal roof
• Exterior features: Patio; Shed(s); Has a view; Less than quarter acre lot

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Bedroom (10x12); Bedroom (9x9)
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Interior features: Sliding doors; Split bedrooms; Unfurnished
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $479 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 4.4% in Sebastian — 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 81/100 on livability (#89 in FL, #1,421 nationally) — a professional / high-income tenant draw. Strengths: housing A+, crime A, health & safety A; Watch: schools D+, amenities 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 rising fast (+6.2%/yr); 412 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 31% 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 $899 of loan paydown is wiped out by about $4k 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 + 6.2% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $130k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.34% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.78%
• DSCR: 1.70
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $169,280
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
319 Valencia St	0.06mi	2/1.0	896 (-3%)	24mo	$165,000	$184	73

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 · 6.22% rent growth · sell at horizon

5-year hold

• IRR: 10.2%
• Equity multiple: 1.42×
• Total profit: $15,257
• Equity at exit: $19,383

10-year hold

• IRR: 21.8%
• Equity multiple: 3.15×
• Total profit: $78,137
• Equity at exit: $11,240

Cash invested: $36,400 (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 32958

• Home prices YoY: -13.1%
• Rents YoY: 6.2%
• Active inventory: 412
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,739 high
• Mortgage (P&I): −$682
• Tax from tax record: −$160 /mo · $1,915/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $479

Break-even live

Break-even rent $1,134

Max offer price $130,000

Occupancy floor 67%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
950 Louisiana Ave Sebastian, FL	2.0	1.5	990	$1,550	$1.57	21d	1	0.31mi
426 Easy St Sebastian, FL	1.0	1.0	600	$1,400	$2.33	21d	1	0.64mi
362 Del Monte Rd Unit A Sebastian, FL	2.0	2.0	1045	$1,600	$1.53	21d	1	0.91mi
371 Keen Ter Unit A Sebastian, FL	2.0	2.0	1037	$1,650	$1.59	21d	1	1.02mi
449 Del Monte Rd Unit A Sebastian, FL	2.0	1.0	840	$1,750	$2.08	21d	1	1.07mi
586 Gerald St Sebastian, FL	3.0	3.0	936	$1,600	$1.71	13d	1	1.20mi

Listing history 9 events

1. 2026-05-12
   status Pending
2. 2026-04-15
   price $130,000
3. 2026-01-06
   listed $140,000 Active
4. 2025-10-25
   price $150,000
5. 2025-07-28
   price $159,000
6. 2025-05-27
   price $164,000
7. 2025-01-24
   price $169,000
8. 2024-12-19
   listed $175,000 Active
9. 2007-01-22
   soldstatus $50,000

ⓘ 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: $1,915 · $160/mo
• Projected year-2 tax: $1,915 · $160/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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 24 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: $20,872
• − Mortgage interest: −$7,282
• − Property taxes: −$1,915
• − Insurance: −$650
• − Repairs & maintenance: −$1,670
• − Management: −$1,670
• − Depreciation: −$3,782
• Taxable income: $3,903
• Est. tax owed @ 24.0%: −$937
• After-tax cash flow: $4,806/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 — Sebastian

• Score: 81/100
• State rank: #89
• US rank: #1421

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sebastian, FL
• County: Indian River County · 143,738 people
• City population: 30,023
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 30,023
• Household income: $66,840
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 646.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 7% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 3%
• Common ancestry: Lithuanian 4% Slovak 4% Romanian 3%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -49.85%
• Current HPI: 330.1691
• Rent YoY: ▲ 6.22%
• 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

+160.0% since first listed

9 events — show timeline

• 2026-05-12 Pending — RAIRCMLS
• 2026-04-15 Price Changed $130,000 RAIRCMLS
• 2026-01-06 Listed $140,000 RAIRCMLS
• 2025-10-25 Price Changed $150,000 RAIRCMLS
• 2025-07-28 Price Changed $159,000 RAIRCMLS
• 2025-05-27 Price Changed $164,000 RAIRCMLS
• 2025-01-24 Price Changed $169,000 RAIRCMLS
• 2024-12-19 Listed $175,000 RAIRCMLS
• 2007-01-22 Sold (Public Records) $50,000 Public Records

Property tax history

+8.9%/yr

Latest (2025): $1,915 · +5.5% YoY. Source: county tax records.