5400 Jimmy Buffett Mem Hwy Unit B 22 · Indian River Shores, FL 32963

$309,000

1 bd · 1.5 ba · 1,000 sqft · Condo · 27 Days on market

Built 1972 Excellent condition $474/mo HOA · 13% of rent

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Why this score? — see what drove the C- 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 +17.1/30.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• DSCR +5.3/10.0
• Rent growth +5.0/5.0
• Condition / age +4.8/5.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Incredible home awaits you. BEACHSIDE BEAUTY! 55 plus simple living without sacrifice, this one is over the moon! A definitive cut above the rest. A superior home awaits a new owner. This property sports over $100,000 in amazing upgrades that you will benefit from. With special millwork, crown & shiplap, Impact windows, crafted doors, custom closets, expanded floorplan open to Florida room, new high end lux floors, freshly painted, stunning bathrooms & more! Upgraded countertops, farmers sink, shaker style, softclose kitchen cabinets with under cabinet & decorative lighting, the list goes on! High end living with quality upgrades of over $100,000 added to enjoy without pay

Key facts

• Upgraded countertops
• Farmers sink
• Florida room

Tags

• IMPACT WINDOWS
• CUSTOM CLOSETS
• EXPANDED FLOORPLAN
• FLORIDA ROOM
• UPGRADED COUNTERTOPS
• FARMERS SINK

Property features AI

Finance

• Other: No land lease; Pets not allowed
• HOA & community: Delmar association; Monthly HOA fee covers cable TV, insurance, grounds and structure maintenance, sewer, trash, water, common areas, elevator, reserve funds, roof repairs, and recreation facilities; Community amenities include beach access, clubhouse, elevators, game room, pool (heated), spa/hot tub (in-ground, heated), shuffleboard court, maintained community, street lights, and recreation facilities; Community of about 150 units; Senior community

Exterior

• Parking: Assigned parking on asphalt; Four open parking spaces (total 4 parking spaces)
• Security: Building security; Fire sprinkler system; Security patrol; Smoke detectors
• Utilities: Public water; Public sewer; 200+ amp electric service; Cable, electricity, sewer and water connected
• Home design: Condominium, one story; Resale, updated/remodeled; Accessible elevator installed; Visitable; Faces south; Entry level: 3
• Construction: Block/brick/CBS/concrete block with stucco construction; Second/third floor concrete elements; Built-up, shingle, and tile roofs; Block and slab foundation; Building B, approximately 1,000 building area; Total stories: 1
• Exterior features: Screened porch and enclosed glass porch; Porch; Storage structure; Fenced (other); Corner and interior lot with many trees and landscaping; Deeded beach access and ocean access; Private road frontage (east of US-1); Public maintained asphalt road

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal; Electric water heater (owned)
• Bedrooms: One main-level bedroom
• Flooring: Ceramic tile; Tile; Vinyl
• Bathrooms: One full bathroom; One half bathroom (total 2 bathrooms)
• Heating & cooling: Central individual heating; Central individual cooling; Ceiling fan(s)
• Interior features: Built-in features; Walk-in closet(s); Closet cabinetry; Blinds, insulated and storm windows, shutters; Negotiable furnished status
• Laundry & utility: Common area laundry room with multiple locations, outside access

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $309k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $213 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $309k).
• Recommended offer: $304k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 1.5% in Indian River Shores — 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 68/100 on livability (#517 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A-; Watch: amenities F, commute F, cost of living 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.
• Zoned schools: Beachland Elementary School (math 54% / reading 58%, grade C+, #832 of 2,144 statewide, top 40%, 523 students, 39% FRL); Gifford Middle School (math 46% / reading 45%, grade D+, #305 of 571 statewide, top 54%, 582 students, 72% FRL); Vero Beach High School (math 28% / reading 43%, grade F, #367 of 667 statewide, top 57%, 2,847 students, 50% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents rising fast (+11.0%/yr); 498 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $9k 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 + 8.0% rent growth), your $87k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($304k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $304,365 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.16% ✓
• Cap rate: 7.12%
• Cash-on-cash: 2.96%
• DSCR: 1.13
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.80×
• Total profit: $-17,272
• Equity at exit: $46,073

10-year hold

• IRR: 10.5%
• Equity multiple: 2.04×
• Total profit: $89,776
• Equity at exit: $26,717

Cash invested: $86,520 (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 32963

• Rents YoY: 11.0%
• Active inventory: 498
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $3,573 high
• Mortgage (P&I): −$1,620
• Tax est. 1.5%: −$386 /mo · $4,635/yr
• Insurance: −$129
• HOA: −$474
• Vacancy / Maint / Mgmt: −$750
• Net cashflow: $213

Break-even live

Break-even rent $3,303

Max offer price $309,000

Occupancy floor 89%

Sensitivity live

Price	-10% $427	-5% $320	+0% $213	+5% $106	+10% $0
Rent	-10% $-69	-5% $72	+0% $213	+5% $354	+10% $495
Rate	-1.0pp $369	-0.5pp $292	base $213	+0.5pp $133	+1.0pp $52

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: $77,250
• Closing costs: $9,270
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5400 Jimmy Buffett Memorial Hwy Unit 5400A11 Indian River Shores, FL	1.0	2.0	1000	$2,500	$2.50	22d	1	0.02mi
5400 Jimmy Buffett Memorial Hwy Unit B8 Indian River Shores, FL	1.0	1.5	1000	$1,650	$1.65	14d	1	0.02mi
5400 Jimmy Buffett Memorial Hwy Unit I24 Indian River Shores, FL	1.0	1.5	1000	$1,650	$1.65	22d	1	0.02mi
5400 Jimmy Buffett Memorial Hwy Indian River Shores, FL	2.0	2.0	1200	$1,800	$1.50	22d	1	0.06mi
5400 Jimmy Buffett Memorial Hwy Unit A19 Indian River Shores, FL	1.0	1.5	900	$3,000	$3.33	22d	1	0.06mi
5300 Jimmy Buffett Memorial Hwy #301 Indian River Shores, FL	2.0	2.0	1300	$7,000	$5.38	22d	1	0.13mi
5300 Jimmy Buffett Memorial Hwy Unit 408 Indian River Shores, FL	2.0	2.0	1300	$9,000	$6.92	22d	1	0.14mi
5300 Jimmy Buffett Memorial Hwy Unit 305 Indian River Shores, FL	2.0	2.0	1300	$6,000	$4.62	22d	1	0.14mi
5300 Jimmy Buffett Memorial Hwy Unit 214 Indian River Shores, FL	2.0	2.0	1300	$5,500	$4.23	22d	1	0.14mi
5300 Jimmy Buffett Memorial Hwy Unit 314 Indian River Shores, FL	2.0	2.0	1300	$3,000	$2.31	22d	1	0.14mi
837 Seminole Ln Vero Beach, FL	2.0	2.0	860	$2,800	$3.26	14d	1	0.21mi
5151 Jimmy Buffett Memorial Hwy Unit 514 Indian River Shores, FL	1.0	1.0	937	$1,750	$1.87	22d	1	0.29mi
5151 Jimmy Buffett Memorial Hwy Unit 512 Indian River Shores, FL	2.0	2.0	1339	$4,600	$3.44	22d	1	0.29mi
5151 Jimmy Buffett Memorial Hwy Unit 305 Indian River Shores, FL	2.0	2.0	1339	$2,300	$1.72	22d	1	0.29mi
5151 Jimmy Buffett Memorial Hwy Unit 516 Indian River Shores, FL	1.0	1.5	937	$3,000	$3.20	22d	1	0.30mi
5100 Jimmy Buffett Memorial Hwy Unit 58G INDN RIV SHRS, FL	2.0	2.0	1170	$6,000	$5.13	22d	1	0.52mi
4890 Bethel Creek Dr #5 Vero Beach, FL	2.0	2.5	1244	$2,200	$1.77	22d	1	0.93mi
4834 Bethel Creek Dr Vero Beach, FL	2.0	2.5	1500	$2,900	$1.93	22d	1	0.96mi
4601 Highway A1A #202 Vero Beach, FL	2.0	2.0	1440	$3,250	$2.26	22d	1	1.12mi
4600 Highway A1A #507 Vero Beach, FL	2.0	2.0	1400	$5,000	$3.57	22d	1	1.15mi
4450 Highway A1A #303 Vero Beach, FL	2.0	2.0	1080	$3,500	$3.24	22d	1	1.20mi
4450 Highway A1A #404 Vero Beach, FL	2.0	2.0	1080	$3,499	$3.24	14d	1	1.20mi
4450 Florida A1A Unit 102 Vero Beach, FL	2.0	2.0	1000	$3,900	$3.90	22d	1	1.20mi
4400 Highway A1A #10 Vero Beach, FL	2.0	2.0	800	$5,500	$6.88	22d	1	1.27mi
4150 Highway A1A #111 Vero Beach, FL	2.0	2.0	1300	$2,600	$2.00	22d	1	1.42mi
4141 Ocean Dr Vero Beach, FL	2.0–3.0	2.0	1200	$3,500	$2.92	14d	4	1.46mi

HOA detail condo

• Monthly dues: $474 · $5,688/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-19
   days on market $309,000 Active 27 DOM
2. 2026-06-18
   days on market $309,000 Active 26 DOM
3. 2026-06-17
   days on market $309,000 Active 25 DOM
4. 2026-06-16
   days on market $309,000 Active 24 DOM
5. 2026-06-15
   days on market $309,000 Active 23 DOM
6. 2026-06-14
   days on market $309,000 Active 21 DOM
7. 2026-06-13
   days on market $309,000 Active 20 DOM
8. 2026-06-10
   days on market $309,000 Active 18 DOM
9. 2026-06-09
   days on market $309,000 Active 17 DOM
10. 2026-06-08
    days on market $309,000 Active 16 DOM
11. 2026-06-07
    days on market $309,000 Active 15 DOM
12. 2026-06-05
    days on market $309,000 Active 12 DOM
13. 2026-06-02
    days on market $309,000 Active 10 DOM
14. 2026-06-01
    days on market $309,000 Active 9 DOM
15. 2026-05-31
    days on market $309,000 Active 8 DOM
16. 2026-05-30
    days on market $309,000 Active 7 DOM
17. 2026-05-22
    listed $309,000 Active

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 55% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 25 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: $42,874
• − Mortgage interest: −$17,309
• − Property taxes: −$4,635
• − Insurance: −$1,545
• − Repairs & maintenance: −$3,430
• − Management: −$3,430
• − HOA: −$5,688
• − Depreciation: −$8,989
• Taxable loss: −$2,152
• Est. tax savings @ 24.0%: +$516
• After-tax cash flow: $3,074/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.

Condition & rehab AI · 30 photos

Excellent 95/100 None rehab

This stunning beachfront townhouse is move-in ready with modern upgrades and a prime location.

Value-add opportunities

• Both Beachfront location — Enhances both resale and rental value.
• Both Modern kitchen and bathrooms — Improves both resale and rental value.
• Both Landscaping and curb appeal — Enhances both resale and rental value.
• Both Beach access — Enhances both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Beachfront location — Enhances both resale and rental value. ↑
• Both Modern kitchen and bathrooms — Improves both resale and rental value. ↑
• Both Landscaping and curb appeal — Enhances both resale and rental value. ↑
• Both Beach access — Enhances both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Indian River Shores

• Score: 68/100
• State rank: #517
• US rank: #9512

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indian River Shores, FL
• County: Indian River County · 143,738 people
• City population: 15,008
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 15,008
• Household income: $149,923
• Rent vs Own: 4.9% rent · 95.1% own
• Severe rent burden: 119.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Slovak 5% Lithuanian 4% Italian 3%
• Foreign-born: 9% · Canada
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 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: ▼ -180.47%
• Current HPI: 312.0326
• Rent YoY: ▲ 11.04%
• 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

1 event — show timeline

• 2026-05-22 Listed $309,000 Beaches MLS