3245 2nd Pl · Vero Beach South, FL 32968

$259,000

2 bd · 2.0 ba · 1,600 sqft · SingleFamily public records · 43 Days on market

Built 1976 Est $352k · 26% 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 +26.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +6.0/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two Bedroom, Two Bath wood frame home. Living Room with formal dining room. Open patio w/ shed in backyard.

Key facts

• Covered front porch
• Metal roof
• Large back porch

Tags

• METAL ROOF
• SOLAR PANELS
• COVERED FRONT PORCH
• LARGE BACK PORCH

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: No association

Exterior

• Parking: Driveway
• Utilities: Public water; Septic tank
• Home design: Single-story; Faces north; Has view
• Construction: Frame construction; Metal roof
• Exterior features: Screened porch; Enclosed porch; Shed(s)

Interior

• Kitchen: Range; Refrigerator; Electric water heater
• Bedrooms: Bedroom (12x11); Bedroom (12x12); Den (11x10)
• Flooring: Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Kitchen island; Single-hung windows; Unfurnished
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $259k.

Deal economics

• At list price, monthly cash flow is $693 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• Recommended offer: $251k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 4.3% in Vero Beach South — 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 78/100 on livability (#163 in FL, #2,445 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A; Watch: amenities F.
• 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: 184 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 + 3.0% rent growth), your $73k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $87k; list at $259k implies a 197% 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 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $251,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.10% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.48%
• DSCR: 1.51
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $352,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3145 1st Ln	0.16mi	3/2.0 (+1)	1,594 (-0%)	6mo	$395,000	$248	82
3446 1st St	0.20mi	3/2.0 (+1)	1,560 (-2%)	3mo	$354,000	$227	79
2845 1st Ln	0.30mi	3/2.0 (+1)	1,674 (+5%)	4mo	$278,000	$166	70
3485 1st Ln	0.16mi	3/2.0 (+1)	1,772 (+11%)	4mo	$350,000	$198	66
3496 3rd Pl	0.20mi	1/1.0 (-1)	1,389 (-13%)	0mo	$359,000	$258	59
571 24th Ave	0.68mi	3/2.0 (+1)	1,584 (-1%)	6mo	$335,000	$211	56
2745 1st St	0.38mi	3/2.5 (+1)	1,753 (+10%)	6mo	$330,000	$188	54
4000 1st Ln	0.46mi	3/2.0 (+1)	1,773 (+11%)	6mo	$405,000	$228	51
219 26th Ave SW	0.60mi	3/2.0 (+1)	1,440 (-10%)	3mo	$250,000	$174	48
2464 1st Pl	0.63mi	3/2.0 (+1)	1,446 (-10%)	6mo	$290,000	$201	45
156 24th Ave	0.66mi	3/2.0 (+1)	1,407 (-12%)	6mo	$310,000	$220	39
225 22nd Ave	0.72mi	3/2.0 (+1)	1,378 (-14%)	8mo	$350,000	$254	31

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $2,104
• Equity at exit: $38,618

10-year hold

• IRR: 10.4%
• Equity multiple: 1.80×
• Total profit: $58,319
• Equity at exit: $22,394

Cash invested: $72,520 (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 32968

• Home prices YoY: -27.5%
• Active inventory: 184
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,858 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$98 /mo · $1,179/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$600
• Net cashflow: $693

Break-even live

Break-even rent $1,980

Max offer price $259,000

Occupancy floor 71%

Sensitivity live

Price	-10% $840	-5% $767	+0% $693	+5% $620	+10% $547
Rent	-10% $468	-5% $581	+0% $693	+5% $806	+10% $919
Rate	-1.0pp $824	-0.5pp $759	base $693	+0.5pp $626	+1.0pp $558

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3285 3rd Pl Unit 1018166P Vero Beach, FL	3.0	2.0	1420	$3,708	$2.61	14d	1	0.14mi
405 27th Ct Vero Beach, FL	3.0	2.0	1100	$1,850	$1.68	14d	1	0.39mi
3673 2nd Pl SW Vero Beach, FL	3.0	2.0	1410	$4,800	$3.40	22d	1	0.61mi
3673 2nd Pl SW Vero Beach, FL	3.0	2.0	1410	$4,800	$3.40	14d	1	0.61mi
725 23rd Ave Vero Beach, FL	3.0	2.0	1696	$3,500	$2.06	22d	1	0.88mi
1816 5th Pl Unit 1018162P Vero Beach, FL	2.0	2.0	1323	$3,841	$2.90	22d	1	1.05mi
275 16th Ave Vero Beach, FL	2.0	2.0	1144	$1,600	$1.40	14d	1	1.11mi
2543 Stockbridge Sq SW Vero Beach, FL	3.0	2.0	1464	$2,200	$1.50	14d	1	1.21mi
2584 Stockbridge Sq SW Vero Beach, FL	3.0	2.5	1698	$2,250	$1.33	14d	1	1.21mi
1702 7th St Vero Beach, FL	3.0	2.0	1230	$2,100	$1.71	14d	1	1.21mi
235 14th Ave Vero Beach, FL	3.0	2.0	1586	$2,700	$1.70	22d	1	1.23mi
2619 Langrove Ln SW Unit 2619 Vero Beach, FL	3.0	2.0	1464	$2,450	$1.67	22d	1	1.31mi
408 N Key Lime Sq SW Vero Beach, FL	3.0	2.0	2061	$2,800	$1.36	14d	1	1.33mi
2565 Langrove Ln SW Vero Beach, FL	3.0	2.0	1464	$2,000	$1.37	22d	1	1.36mi
826 Middleton Dr SW Vero Beach, FL	3.0	2.0	1464	$2,150	$1.47	22d	1	1.36mi
1330 28th Ave Vero Beach, FL	3.0	2.0	1488	$3,200	$2.15	22d	1	1.43mi
552 Calamondin Way SW Vero Beach, FL	3.0	2.0	2008	$2,575	$1.28	14d	1	1.47mi
1406 36th Ave Vero Beach, FL	2.0	2.5	1284	$2,000	$1.56	14d	1	1.49mi
1406 36th Ave Vero Beach, FL	2.0	2.5	1284	$2,150	$1.67	22d	1	1.49mi
1408 36th Ave Unit 1408 Vero Beach, FL	2.0	2.5	1284	$2,150	$1.67	22d	1	1.50mi

Listing history 21 events

1. 2026-06-19
   days on market $259,000 Active 43 DOM
2. 2026-06-18
   days on market $259,000 Active 42 DOM
3. 2026-06-17
   days on market $259,000 Active 41 DOM
4. 2026-06-16
   days on market $259,000 Active 40 DOM
5. 2026-06-15
   days on market $259,000 Active 39 DOM
6. 2026-06-14
   days on market $259,000 Active 37 DOM
7. 2026-06-13
   pricedays on market $259,000 Active 36 DOM
8. 2026-06-10
   days on market $272,000 Active 34 DOM
9. 2026-06-09
   days on market $272,000 Active 33 DOM
10. 2026-06-08
    days on market $272,000 Active 32 DOM
11. 2026-06-07
    days on market $272,000 Active 31 DOM
12. 2026-06-05
    days on market $272,000 Active 28 DOM
13. 2026-06-02
    days on market $272,000 Active 26 DOM
14. 2026-06-01
    days on market $272,000 Active 25 DOM
15. 2026-05-31
    days on market $272,000 Active 24 DOM
16. 2026-05-30
    days on market $272,000 Active 23 DOM
17. 2026-05-07
    listed $272,000 Active
18. 2016-02-22
    soldstatus $87,100 107-char remark

    Show marketing remark (106 chars)

    Two Bedroom, Two Bath wood frame home. Living Room with formal dining room. Open patio w/ shed in backyard

19. 2016-02-22
    soldstatus $87,100 106-char remark

    Show marketing remark (106 chars)

    Two Bedroom, Two Bath wood frame home. Living Room with formal dining room. Open patio w/ shed in backyard

20. 2015-11-23
    listed $70,000 107-char remark

    Show marketing remark (107 chars)

    Two Bedroom, Two Bath wood frame home. Living Room with formal dining room. Open patio w/ shed in backyard.

21. 1976-10-01
    soldstatus $26,400

ⓘ 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: $1,179 · $98/mo
• Projected year-2 tax: $2,150 · $179/mo
• Expected delta: +$970/yr (+$81/mo · 82.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $34,297
• − Mortgage interest: −$14,508
• − Property taxes: −$1,179
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,744
• − Management: −$2,744
• − Depreciation: −$7,535
• Taxable income: $4,293
• Est. tax owed @ 24.0%: −$1,030
• After-tax cash flow: $7,292/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: 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 — Vero Beach South

• Score: 78/100
• State rank: #163
• US rank: #2445

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vero Beach South, FL
• Population (ZIP): 15,576

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 12% Two or more races 11% Black 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Spanish 7% Other Indo-European 1% Chinese 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: ▼ -118.63%
• Current HPI: 312.136
• Rent YoY: —
• Metro: —
• 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

+930.3% since first listed

5 events — show timeline

• 2026-05-07 Listed $272,000 RAIRCMLS
• 2016-02-22 Sold (MLS) $87,100 RAIRCMLS
• 2016-02-22 Sold (MLS) $87,100 SCMLS
• 2015-11-23 Listed $70,000 SCMLS
• 1976-10-01 Sold (Public Records) $26,400 Public Records

Property tax history

+11.6%/yr

Latest (2025): $1,179 · +27.8% YoY. Source: county tax records.