8775 20th Street Lot 96 · West Vero Corridor, FL 32966

$150,000

2 bd · 2.0 ba · 5,435 sqft · Manufactured public records · 110 Days on market

Built 1971

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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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• 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 MLS

Nice Ultra Clean 2 bed 2 bath in Countryside at Vero Beach Property comes with stove, refrigerator, dishwasher, and also has a washer and dryer. accommodate two cars with room to spare In front of the driveway on the side entrance there is a nice enclosed screened in entryway and behind that there is the extra large storage shed that could be used for a workshop and is currently being used as the laundry facilities. In the front of the home is a nice cozy screened in Sun porch leading out from the living room, brand new air conditioner installed in April of 2018.

Key facts

• 2 parking spots
• Community pool
• Built 1971

Property features AI

Finance

• Other: Pets allowed (number limits may apply)
• HOA & community: Community clubhouse; Community pool; Bocce ball courts; Association covers grounds maintenance

Exterior

• Parking: Carport with covered parking for 2 vehicles
• Utilities: No utilities listed
• Home design: Mobile home; Single-story; Faces north; Resale condition
• Construction: Vinyl siding; Modular construction; Aluminum roof; Built as a 1,200 living area
• Exterior features: Porch; Waterfront location

Interior

• Bedrooms: 1 bedroom on the main level
• Bathrooms: 2 full bathrooms (1 on the main level)
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Walk-in closets; Closet cabinetry; Unfurnished; Fireplace; Laundry inside
• Laundry & utility: Washer/dryer area located inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $490 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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: 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.
• Zoned schools: Dodgertown Elementary School (math 27% / reading 32%, grade F, #1,896 of 2,144 statewide, top 90%, 485 students, 78% FRL); Storm Grove Middle School (math 54% / reading 55%, grade B-, #183 of 571 statewide, top 34%, 1,020 students, 50% 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 flat; 380 active listings in the ZIP; 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).
• This rent runs 35% 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 $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.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 234% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $136,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 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 1971 — 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 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?
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: 1.29% ✓
• Cap rate: 10.21%
• Cash-on-cash: 14.00%
• DSCR: 1.62
• GRM: 6.5

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: 1.5%
• Equity multiple: 1.06×
• Total profit: $2,366
• Equity at exit: $22,365

10-year hold

• IRR: 8.6%
• Equity multiple: 1.58×
• Total profit: $24,532
• Equity at exit: $12,969

Cash invested: $42,000 (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 32966

• Home prices YoY: -26.7%
• Rents YoY: 0.6%
• Active inventory: 380
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,932 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $490

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 70%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $150,000 Active 110 DOM
2. 2026-06-18
   days on market $150,000 Active 109 DOM
3. 2026-06-17
   days on market $150,000 Active 108 DOM
4. 2026-06-16
   days on market $150,000 Active 107 DOM
5. 2026-06-15
   days on market $150,000 Active 106 DOM
6. 2026-06-14
   days on market $150,000 Active 104 DOM
7. 2026-06-13
   days on market $150,000 Active 103 DOM
8. 2026-06-10
   days on market $150,000 Active 101 DOM
9. 2026-06-09
   days on market $150,000 Active 100 DOM
10. 2026-06-08
    days on market $150,000 Active 99 DOM
11. 2026-06-07
    days on market $150,000 Active 98 DOM
12. 2026-06-05
    days on market $150,000 Active 95 DOM
13. 2026-06-02
    days on market $150,000 Active 93 DOM
14. 2026-06-01
    days on market $150,000 Active 92 DOM
15. 2026-05-31
    days on market $150,000 Active 91 DOM
16. 2026-05-30
    days on market $150,000 Active 90 DOM
17. 2026-05-12
    listed $44,900 Active 570-char remark

    Show marketing remark (570 chars)

    Nice Ultra Clean 2 bed 2 bath in Countryside at Vero Beach Property comes with stove, refrigerator, dishwasher, and also has a washer and dryer. accommodate two cars with room to spare In front of the driveway on the side entrance there is a nice enclosed screened in entryway and behind that there is the extra large storage shed that could be used for a workshop and is currently being used as the laundry facilities. In the front of the home is a nice cozy screened in Sun porch leading out from the living room, brand new air conditioner installed in April of 2018.

18. 2026-03-01
    listed $150,000 Active
19. 1998-09-25
    soldstatus $12,680,700
20. 1993-07-01
    soldstatus $528,300

ⓘ 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: $23,187
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,855
• − Management: −$1,855
• − Depreciation: −$4,364
• Taxable income: $3,711
• Est. tax owed @ 24.0%: −$891
• After-tax cash flow: $4,988/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

Price history

-91.5% since first listed

4 events — show timeline

• 2026-05-12 Listed $44,900 FSBO.com
• 2026-03-01 Listed $150,000 Beaches MLS
• 1998-09-25 Sold (Public Records) $12,680,700 Public Records
• 1993-07-01 Sold (Public Records) $528,300 Public Records

Property tax history

+3.8%/yr

Latest (2025): $456,354 · +33.9% YoY. Source: county tax records.