5601 Highway A1a Hwy Unit 301s · Indian River Shores, FL 32963

$320,000

2 bd · 3.0 ba · 2,000 sqft · Condo public records · 70 Days on market

Built 1977 $1542/mo HOA · 30% 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 +21.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• Rent growth +5.0/5.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Exceptional island value in Robles Del Mar. Spacious 2,000 sq ft condo offered beautifully furnished and truly move-in ready. This light-filled residence features two generously sized bedrooms, two full baths, plus a convenient powder room—perfect for guests. Ideally located just minutes from the Village Shops and the charming town of Vero Beach, with a short walk to the ocean. Amenities include: community pool, clubhouse, and tennis/pickleball. An opportunity for those looking to downsize, investors, or anyone seeking the perfect Florida getaway. Sold Turnkey. Seller paid condo assessments.

Key facts

• Clubhouse
• Pickleball courts
• Community pool

Tags

• COMMUNITY POOL
• CLUBHOUSE
• TENNIS COURTS
• PICKLEBALL COURTS
• MINUTES FROM THE OCEAN
• CLOSE TO THE VILLAGE SHOPS

Property features AI

Finance

• Other: Building area reported by appraiser
• Financial info: Pets allowed with breed restrictions and size limits
• HOA & community: Robles del Mar Condominium Association; Monthly HOA fee; Association amenities include clubhouse, pool, elevator(s), game room, tennis and pickleball courts, recreation facilities, community room, storage, bike storage, car wash area, parking, and trash service; Association fee covers cable TV, internet, insurance, maintenance (grounds & structure), security, sewer, water, common areas, common real estate tax, elevator, legal/accounting, reserve funds, and recreation facility

Exterior

• Parking: 2 assigned/covered parking spaces; 2-car attached garage with garage door opener; Under-building parking
• Security: Smoke detectors; Entry phone/intercom
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; Water connected; Sewer connected
• Home design: Condominium; Resale property; 3-story building; Building name: Robles del Mar; Faces north; Accessible common areas and entrance
• Construction: Stucco and concrete block construction
• Exterior features: No waterfront; Built-up and flat roof

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Disposal; Electric water heater
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Electric heating (central individual); Central electric cooling; Ceiling fans
• Interior features: Built-in features; Entrance foyer; Wet bar; Walk-in closets; Split bedroom layout; Closet cabinetry; Roman tub; Sliding windows; Furnished
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath condo listed at $320k.

Deal economics

• At list price, monthly cash flow is $421 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $320k).
• Recommended offer: $301k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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; 36 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).
• This rent runs 41% of the median local income ($150k/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 $2k of loan paydown is wiped out by about $10k 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 $90k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($301k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $55k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 30% of rent.
• Climate carrying-cost: severe 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 $300,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.60% ✓
• Cap rate: 8.12%
• Cash-on-cash: 6.53%
• DSCR: 1.29
• GRM: 5.2

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: 0.8%
• Equity multiple: 1.03×
• Total profit: $3,024
• Equity at exit: $47,713

10-year hold

• IRR: 16.7%
• Equity multiple: 2.83×
• Total profit: $164,400
• Equity at exit: $27,668

Cash invested: $89,600 (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: 5.2×

Monthly cashflow live

• Estimated rent: $5,129 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$211 /mo · $2,531/yr
• Insurance: −$133
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,542
• Vacancy / Maint / Mgmt: −$1,077
• Net cashflow: $421

Break-even live

Break-even rent $4,596

Max offer price $320,000

Occupancy floor 87%

Sensitivity live

Price	-10% $602	-5% $512	+0% $421	+5% $331	+10% $240
Rent	-10% $16	-5% $219	+0% $421	+5% $624	+10% $826
Rate	-1.0pp $582	-0.5pp $503	base $421	+0.5pp $338	+1.0pp $254

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5601 Jimmy Buffett Memorial Hwy Unit 206C Indian River Shores, FL	3.0	2.0	2400	$6,000	$2.50	22d	1	0.04mi
5601 Jimmy Buffett Memorial Hwy Unit 304N Indian River Shores, FL	2.0	2.0	2115	$1,999	$0.95	22d	1	0.05mi
219 Park Shores Cir Unit 219B Vero Beach, FL	2.0	2.5	1583	$3,000	$1.90	14d	1	0.11mi
131 Peppertree Dr #21 Vero Beach, FL	2.0	2.0	1787	$3,300	$1.85	14d	1	0.17mi
270 S Peppertree Dr Vero Beach, FL	3.0	3.0	2261	$3,600	$1.59	22d	1	0.22mi
5536 Jimmy Buffett Memorial Hwy Unit 211 Vero Beach, FL	2.0	2.5	1632	$6,000	$3.68	22d	1	0.23mi
5554 Jimmy Buffett Memorial Hwy Unit 202 Indian River Shores, FL	2.0	2.5	1632	$12,000	$7.35	22d	1	0.23mi
5554 Jimmy Buffett Memorial Hwy Unit 201 Indian River Shores, FL	2.0	2.0	1632	$12,000	$7.35	22d	1	0.23mi
5680 Highway A1A #111 Vero Beach, FL	3.0	3.0	2050	$6,000	$2.93	22d	1	0.25mi
5680 Highway A1A #112 Vero Beach, FL	3.0	3.0	2620	$7,000	$2.67	22d	1	0.25mi
5670 Jimmy Buffett Memorial Hwy Unit 315S Vero Beach, FL	2.0	3.5	2050	$7,000	$3.41	22d	1	0.25mi
5690 Jimmy Buffett Memorial Hwy Unit 102N Vero Beach, FL	1.0	3.5	1900	$4,500	$2.37	22d	1	0.27mi
5790 Jimmy Buffett Memorial Hwy Vero Beach, FL	3.0	3.0	2300	$8,500	$3.70	22d	1	0.32mi
101 E Park Shores Cir Unit 2 Indian River Shores, FL	2.0	2.0	1640	$2,600	$1.59	14d	1	0.37mi
133 E Park Shores Cir Unit 7E Vero Beach, FL	2.0	2.0	1640	$3,000	$1.83	14d	1	0.38mi
133 E Park Shores Cir Unit 4E Vero Beach, FL	2.0	2.0	1540	$3,500	$2.27	14d	1	0.38mi
926 Pebble Ln Vero Beach, FL	3.0	2.0	2695	$15,000	$5.57	22d	1	0.48mi
100 River Oak Ln Vero Beach, FL	3.0	3.0	2245	$13,000	$5.79	22d	1	0.50mi
5101 Highway A1A #109 Vero Beach, FL	3.0	2.0	1848	$5,500	$2.98	22d	1	0.53mi
915 Surfsedge Way Vero Beach, FL	3.0	3.5	3000	$25,000	$8.33	22d	1	0.63mi
4617 Pebble Bay S Vero Beach, FL	3.0	2.5	2240	$8,500	$3.79	22d	1	0.79mi
902 Tides Rd Vero Beach, FL	3.0	3.0	1810	$8,500	$4.70	14d	1	0.91mi
907 Tropic Dr Vero Beach, FL	3.0	2.0	1830	$10,000	$5.46	22d	1	1.00mi
705 Bahia Mar Rd Vero Beach, FL	3.0	2.0	2214	$16,000	$7.23	14d	1	1.03mi
926 Tropic Dr Vero Beach, FL	1.0	1.0	2000	$2,000	$1.00	14d	1	1.06mi
5000 Highway A1A #320 Vero Beach, FL	2.0	2.0	1980	$5,000	$2.53	22d	1	1.11mi
4836 Bethel Creek Dr Unit 4836 Vero Beach, FL	2.0	2.5	1650	$3,000	$1.82	14d	1	1.16mi
4834 Bethel Creek Dr Vero Beach, FL	2.0	2.5	1500	$2,900	$1.93	22d	1	1.16mi
4800 Highway A1A #506 Vero Beach, FL	2.0	2.0	1850	$4,500	$2.43	22d	1	1.20mi
4800 Highway A1A #116 Vero Beach, FL	2.0	2.0	1822	$3,000	$1.65	22d	1	1.20mi
4800 Highway A1A #207 Vero Beach, FL	2.0	2.0	1850	$7,000	$3.78	22d	1	1.20mi
4800 Bethel Creek Dr Unit 5S Vero Beach, FL	2.0	2.5	2215	$5,500	$2.48	14d	1	1.21mi
4601 Highway A1A #103 Vero Beach, FL	2.0	2.0	1600	$2,500	$1.56	22d	1	1.33mi
4601 Highway A1A #202 Vero Beach, FL	2.0	2.0	1440	$3,250	$2.26	22d	1	1.33mi
4600 Highway A1A #409 Vero Beach, FL	2.0	2.0	1725	$7,500	$4.35	22d	1	1.37mi
4600 Highway A1A #507 Vero Beach, FL	2.0	2.0	1400	$5,000	$3.57	22d	1	1.37mi

HOA detail condo

• Monthly dues: $1,542 · $18,504/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-01
   statusdays on market $320,000 Pending 70 DOM
2. 2026-05-31
   days on market $320,000 Active 69 DOM
3. 2026-05-30
   days on market $320,000 Active 68 DOM
4. 2026-05-01
   price $320,000 604-char remark

   Show marketing remark (604 chars)

   Exceptional island value in Robles Del Mar. Spacious 2,000 sq ft condo offered beautifully furnished and truly move-in ready. This light-filled residence features two generously sized bedrooms, two full baths, plus a convenient powder room—perfect for guests. Ideally located just minutes from the Village Shops and the charming town of Vero Beach, with a short walk to the ocean. Amenities include: community pool, clubhouse, and tennis/pickleball. An opportunity for those looking to downsize, investors, or anyone seeking the perfect Florida getaway. Sold Turnkey. Seller paid condo assessments.

5. 2026-05-01
   price $320,000

   Show marketing remark (604 chars)

   Exceptional island value in Robles Del Mar. Spacious 2,000 sq ft condo offered beautifully furnished and truly move-in ready. This light-filled residence features two generously sized bedrooms, two full baths, plus a convenient powder room—perfect for guests. Ideally located just minutes from the Village Shops and the charming town of Vero Beach, with a short walk to the ocean. Amenities include: community pool, clubhouse, and tennis/pickleball. An opportunity for those looking to downsize, investors, or anyone seeking the perfect Florida getaway. Sold Turnkey. Seller paid condo assessments.

6. 2026-04-01
   price $349,000 604-char remark

   Show marketing remark (604 chars)

   Exceptional island value in Robles Del Mar. Spacious 2,000 sq ft condo offered beautifully furnished and truly move-in ready. This light-filled residence features two generously sized bedrooms, two full baths, plus a convenient powder room—perfect for guests. Ideally located just minutes from the Village Shops and the charming town of Vero Beach, with a short walk to the ocean. Amenities include: community pool, clubhouse, and tennis/pickleball. An opportunity for those looking to downsize, investors, or anyone seeking the perfect Florida getaway. Sold Turnkey. Seller paid condo assessments.

7. 2026-04-01
   price $349,000

   Show marketing remark (604 chars)

   Exceptional island value in Robles Del Mar. Spacious 2,000 sq ft condo offered beautifully furnished and truly move-in ready. This light-filled residence features two generously sized bedrooms, two full baths, plus a convenient powder room—perfect for guests. Ideally located just minutes from the Village Shops and the charming town of Vero Beach, with a short walk to the ocean. Amenities include: community pool, clubhouse, and tennis/pickleball. An opportunity for those looking to downsize, investors, or anyone seeking the perfect Florida getaway. Sold Turnkey. Seller paid condo assessments.

8. 2026-03-23
   listed $375,000 Active
9. 2026-02-09
   listed $375,000 Active 604-char remark

   Show marketing remark (604 chars)

   Exceptional island value in Robles Del Mar. Spacious 2,000 sq ft condo offered beautifully furnished and truly move-in ready. This light-filled residence features two generously sized bedrooms, two full baths, plus a convenient powder room—perfect for guests. Ideally located just minutes from the Village Shops and the charming town of Vero Beach, with a short walk to the ocean. Amenities include: community pool, clubhouse, and tennis/pickleball. An opportunity for those looking to downsize, investors, or anyone seeking the perfect Florida getaway. Sold Turnkey. Seller paid condo assessments.

10. 2016-07-21
    soldstatus $287,500
11. 2016-07-12
    soldstatus $287,500 309-char remark

    Show marketing remark (309 chars)

    Beautifully updated 2br/2.5ba top floor, SE corner unit! Bright over sized rooms, open kitchen, lots of storage, large screened balcony, under building parking with plenty of guest parking. Impact sliding doors and windows on east side of unit. Clubhouse and community pool. Sizes are approx. /subj. to error.

12. 2004-11-17
    soldstatus $340,000
13. 2003-09-05
    soldstatus $180,000
14. 2003-05-22
    soldstatus $160,000
15. 1985-08-01
    soldstatus $160,000
16. 1978-06-01
    soldstatus $90,000

ⓘ 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: $2,531 · $211/mo
• Projected year-2 tax: $2,656 · $221/mo
• Expected delta: +$125/yr (+$10/mo · 4.9%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 98% 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: $61,549
• − Mortgage interest: −$17,925
• − Property taxes: −$2,531
• − Insurance: −$2,398
• − Repairs & maintenance: −$4,924
• − Management: −$4,924
• − HOA: −$18,504
• − Depreciation: −$9,309
• Taxable income: $1,034
• Est. tax owed @ 24.0%: −$248
• After-tax cash flow: $4,805/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 — 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

+255.6% since first listed

13 events — show timeline

• 2026-05-01 Price Changed $320,000 RAIRCMLS
• 2026-05-01 Price Changed $320,000 Beaches MLS
• 2026-04-01 Price Changed $349,000 RAIRCMLS
• 2026-04-01 Price Changed $349,000 Beaches MLS
• 2026-03-23 Listed $375,000 Beaches MLS
• 2026-02-09 Listed $375,000 RAIRCMLS
• 2016-07-21 Sold (Public Records) $287,500 Public Records
• 2016-07-12 Sold (MLS) $287,500 RAIRCMLS
• 2004-11-17 Sold (Public Records) $340,000 Public Records
• 2003-09-05 Sold (Public Records) $180,000 Public Records
• 2003-05-22 Sold (Public Records) $160,000 Public Records
• 1985-08-01 Sold (Public Records) $160,000 Public Records
• 1978-06-01 Sold (Public Records) $90,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $2,531 · +3.3% YoY. Source: county tax records.