2400 S Ocean Dr Unit Cc-1111 · Fort Pierce, FL 34949

$229,000

2 bd · 2.0 ba · 1,069 sqft · Condo · 122 Days on market

Built 1976 $1080/mo HOA · 34% of rent

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Why this score? — see what drove the D 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 +8.9/30.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in desirable Ocean Village, this well maintained 2 Bedroom/2 Bath ground floor end unit features tiled floors throughout, updated bathrooms and is being sold furnished/turnkey. Ocean Village is a gated oceanfront community situated next to the Atlantic Ocean which offers many amenities. Including 24 hour security, 9 hole 3 par Executive Golf Course, heated pools, tennis courts (hard & clay), fitness center, sauna, shuffleboard, bocce ball, pickleball, poolside Tiki Bar, Oceanfront Restaurant, 3000 ft. of beautiful beaches & much more. Enjoy all that Ocean Village & South Hutchinson Island have to offer...Paradise Found!!!

Key facts

• Lush golf course
• Private patio
• Pristine beaches

Tags

• FIRST-FLOOR CORNER UNIT
• TRANQUIL POND VIEWS
• PRIVATE PATIO
• LUSH GOLF COURSE
• PRISTINE BEACHES

Property features AI

Finance

• Other: Pets allowed with breed restrictions
• Financial info: Association fee collected monthly
• HOA & community: Monthly HOA with amenities including clubhouse, fitness center, pool, spa/hot tub, sauna, tennis courts, pickleball courts, basketball court, shuffleboard, golf course access, picnic area, cafe/restaurant, storage, and street lights

Exterior

• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Resale; Southeast-facing; 2 stories (unit in a 2-story building); Entry level information not provided
• Construction: Frame, stucco, and CBS construction
• Exterior features: Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on main level
• Flooring: Other
• Bathrooms: 2 full bathrooms on main level
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Walk-in closets
• Laundry & utility: Laundry closet inside unit; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $229k.

Deal economics

• At list price, monthly cash flow is $-250 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (15.8% below list).
• Meets the 1% rule at list price ($3k rent vs $229k).
• Recommended offer: $193k (15.8% below list) — sets the bar for cash-flow.
• Cap rate 5.3% vs local median 3.7% in Fort Pierce — 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 76/100 on livability (#226 in FL, #3,360 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, amenities F, employment F.
• St. Lucie (urban): math 40% / reading 48% proficiency, ranked #51 of 73 in FL (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Weatherbee Elementary School (math 32% / reading 32%, grade F, #1,797 of 2,144 statewide, top 86%, 672 students, 90% FRL); Dan Mccarty Middle School (math 23% / reading 23%, grade F, #542 of 571 statewide, top 95%, 747 students, 88% FRL); Fort Pierce Westwood Academy The W.E.S.T. Prep Magnet (math 16% / reading 36%, grade F, #494 of 667 statewide, top 75%, 2,010 students, 75% FRL) — zoned schools average 85% FRL vs 59% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 44% district-wide (-17 pts) — the specific schools serving this property underperform the St. Lucie average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+13.6%/yr); 382 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,868 units permitted in St. Lucie County in 2024 (268 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 $7k of value loss. Plan a longer hold.
• St. Lucie County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $36k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $195k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 34% of rent.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 8→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $192,772 (15.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
11. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
12. 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.
13. 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.
14. 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: 1.37% ✓
• Cap rate: 5.33%
• Cash-on-cash: -3.44%
• DSCR: 0.85
• GRM: 6.1

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: -14.4%
• Equity multiple: 0.44×
• Total profit: $-35,720
• Equity at exit: $34,145

10-year hold

• IRR: 4.2%
• Equity multiple: 1.42×
• Total profit: $26,885
• Equity at exit: $19,800

Cash invested: $64,120 (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 34949

• Home prices YoY: -7.5%
• Rents YoY: 13.6%
• Active inventory: 382
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $3,138 high
• Mortgage (P&I): −$1,201
• Tax est. 1.5%: −$286 /mo · $3,435/yr
• Insurance: −$95
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,080
• Vacancy / Maint / Mgmt: −$659
• Net cashflow: $-250

Break-even live

Break-even rent $3,454

Max offer price $192,772

Occupancy floor —

Sensitivity live

Price	-10% $-92	-5% $-171	+0% $-250	+5% $-329	+10% $-409
Rent	-10% $-498	-5% $-374	+0% $-250	+5% $-126	+10% $-2
Rate	-1.0pp $-135	-0.5pp $-192	base $-250	+0.5pp $-310	+1.0pp $-370

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2400 S Ocean Dr #1322 Fort Pierce, FL	2.0	2.0	1069	$3,500	$3.27	24d	1	0.01mi
2400 S Ocean Dr Fort Pierce, FL	1.0	1.0	789	$2,275	$2.88	14d	6	0.07mi
2400 S Ocean Dr Fort Pierce, FL	2.0	2.0	1184	$4,150	$3.51	14d	2	0.07mi
2400 S Ocean Dr Unit 1545990P Fort Pierce, FL	1.0	1.0	882	$2,903	$3.29	14d	1	0.12mi
2400 S Ocean Dr Unit 1546278P Fort Pierce, FL	2.0	2.0	990	$3,871	$3.91	14d	1	0.12mi
503 Southstar Dr Unit 503 Fort Pierce, FL	2.0	2.0	1253	$2,650	$2.11	24d	1	0.28mi
1550 S Ocean Dr Unit 19 Fort Pierce, FL	2.0	2.0	1120	$3,000	$2.68	14d	1	0.67mi
606 Mariner Bay Blvd Fort Pierce, FL	3.0	2.0	1482	$2,750	$1.86	24d	1	0.95mi
1115 S Ocean Dr Unit 3 Fort Pierce, FL	2.0	1.0	800	$2,100	$2.62	24d	1	1.01mi
670 Hernando St Unit D Fort Pierce, FL	3.0	1.0	870	$3,450	$3.97	24d	1	1.43mi
670 Hernando St Unit C Fort Pierce, FL	2.0	1.0	780	$2,760	$3.54	24d	1	1.43mi
661 Hernando St Unit 6 Fort Pierce, FL	2.0	2.0	800	$1,700	$2.12	24d	1	1.43mi

HOA detail condo

• Monthly dues: $1,080 · $12,960/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $229,000 Active 122 DOM
2. 2026-06-17
   days on market $229,000 Active 121 DOM
3. 2026-06-16
   days on market $229,000 Active 120 DOM
4. 2026-06-15
   days on market $229,000 Active 119 DOM
5. 2026-06-14
   days on market $229,000 Active 117 DOM
6. 2026-06-13
   days on market $229,000 Active 116 DOM
7. 2026-06-10
   days on market $229,000 Active 114 DOM
8. 2026-06-09
   days on market $229,000 Active 113 DOM
9. 2026-06-09
   price $229,000 Active 112 DOM
10. 2026-06-08
    days on market $249,000 Active 112 DOM
11. 2026-06-07
    days on market $249,000 Active 111 DOM
12. 2026-06-05
    days on market $249,000 Active 108 DOM
13. 2026-06-03
    days on market $249,000 Active 107 DOM
14. 2026-06-02
    days on market $249,000 Active 106 DOM
15. 2026-06-01
    days on market $249,000 Active 105 DOM
16. 2026-05-31
    days on market $249,000 Active 104 DOM
17. 2026-05-30
    days on market $249,000 Active 103 DOM
18. 2026-05-11
    price $249,000
19. 2026-04-17
    price $259,000
20. 2026-03-06
    status Active
21. 2026-02-27
    historical Active Under Contract
22. 2026-02-16
    listed $265,000 Active
23. 2018-05-11
    soldstatus $194,900 Closed 652-char remark

    Show marketing remark (652 chars)

    Located in desirable Ocean Village, this well maintained 2 Bedroom/2 Bath ground floor end unit features tiled floors throughout, updated bathrooms and is being sold furnished/turnkey. Ocean Village is a gated oceanfront community situated next to the Atlantic Ocean which offers many amenities. Including 24 hour security, 9 hole 3 par Executive Golf Course, heated pools, tennis courts (hard & clay), fitness center, sauna, shuffleboard, bocce ball, pickleball, poolside Tiki Bar, Oceanfront Restaurant, 3000 ft. of beautiful beaches & much more. Enjoy all that Ocean Village & South Hutchinson Island have to offer...Paradise Found!!!

24. 2018-04-30
    status Pending 652-char remark

    Show marketing remark (652 chars)

    Located in desirable Ocean Village, this well maintained 2 Bedroom/2 Bath ground floor end unit features tiled floors throughout, updated bathrooms and is being sold furnished/turnkey. Ocean Village is a gated oceanfront community situated next to the Atlantic Ocean which offers many amenities. Including 24 hour security, 9 hole 3 par Executive Golf Course, heated pools, tennis courts (hard & clay), fitness center, sauna, shuffleboard, bocce ball, pickleball, poolside Tiki Bar, Oceanfront Restaurant, 3000 ft. of beautiful beaches & much more. Enjoy all that Ocean Village & South Hutchinson Island have to offer...Paradise Found!!!

25. 2018-04-20
    historical Active Under Contract 652-char remark

    Show marketing remark (652 chars)

    Located in desirable Ocean Village, this well maintained 2 Bedroom/2 Bath ground floor end unit features tiled floors throughout, updated bathrooms and is being sold furnished/turnkey. Ocean Village is a gated oceanfront community situated next to the Atlantic Ocean which offers many amenities. Including 24 hour security, 9 hole 3 par Executive Golf Course, heated pools, tennis courts (hard & clay), fitness center, sauna, shuffleboard, bocce ball, pickleball, poolside Tiki Bar, Oceanfront Restaurant, 3000 ft. of beautiful beaches & much more. Enjoy all that Ocean Village & South Hutchinson Island have to offer...Paradise Found!!!

26. 2018-02-18
    price $199,000 652-char remark

    Show marketing remark (652 chars)

    Located in desirable Ocean Village, this well maintained 2 Bedroom/2 Bath ground floor end unit features tiled floors throughout, updated bathrooms and is being sold furnished/turnkey. Ocean Village is a gated oceanfront community situated next to the Atlantic Ocean which offers many amenities. Including 24 hour security, 9 hole 3 par Executive Golf Course, heated pools, tennis courts (hard & clay), fitness center, sauna, shuffleboard, bocce ball, pickleball, poolside Tiki Bar, Oceanfront Restaurant, 3000 ft. of beautiful beaches & much more. Enjoy all that Ocean Village & South Hutchinson Island have to offer...Paradise Found!!!

27. 2017-12-05
    listed $204,900 Active 652-char remark

    Show marketing remark (652 chars)

    Located in desirable Ocean Village, this well maintained 2 Bedroom/2 Bath ground floor end unit features tiled floors throughout, updated bathrooms and is being sold furnished/turnkey. Ocean Village is a gated oceanfront community situated next to the Atlantic Ocean which offers many amenities. Including 24 hour security, 9 hole 3 par Executive Golf Course, heated pools, tennis courts (hard & clay), fitness center, sauna, shuffleboard, bocce ball, pickleball, poolside Tiki Bar, Oceanfront Restaurant, 3000 ft. of beautiful beaches & much more. Enjoy all that Ocean Village & South Hutchinson Island have to offer...Paradise Found!!!

ⓘ 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 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 8 d/yr ≥106°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,651
• − Mortgage interest: −$12,828
• − Property taxes: −$3,435
• − Insurance: −$1,942
• − Repairs & maintenance: −$3,012
• − Management: −$3,012
• − HOA: −$12,960
• − Depreciation: −$6,662
• Taxable loss: −$6,200
• Est. tax savings @ 24.0%: +$1,488
• After-tax cash flow: $-1,516/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: St. Lucie
• NCES district ID: 1201770
• Math proficiency: 40% ▼ -11.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $44,737
• Composite: 37.28/100
• National rank: #4449
• State rank: #51 of 73 in FL

Livability — Fort Pierce

• Score: 76/100
• State rank: #226
• US rank: #3360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Pierce, FL
• County: Saint Lucie County · 337,150 people
• City population: 78,556
• Metro: Port St. Lucie, FL
• Population (ZIP): 7,470
• Household income: $94,949
• Rent vs Own: 18.3% rent · 81.7% own
• Severe rent burden: 265.0

Population outlook (St. Lucie County) Hauer SSP2

• Today (2025): 338,016 people
• By 2030: 355,687 · +5.2%
• By 2040: 385,521 · +14.1%
• By 2050: 406,106 · +20.1%
• By 2075: 441,054 · +30.5%
• By 2100: 436,885 · +29.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Cuban 3%
• Common ancestry: Romanian 7% Lithuanian 6% Italian 5%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 4% German/W. Germanic 1% Russian/Polish/Slavic 1%

Political lean MEDSL · St. Lucie

• 2024 margin: Lean R (+9.1) · D 45.1% · R 54.2%
• 2008→2024 swing: -21.2pp toward R · 2008: 12.1pp · 2024: -9.1pp
• All cycles: 2024: R+9.1 2020: R+1.6 2016: R+2.5 2012: D+7.9 2008: D+12.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -48.89%
• Current HPI: 601.12
• Rent YoY: ▲ 13.64%
• Metro: Port St. Lucie, 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

+21.5% since first listed

10 events — show timeline

• 2026-05-11 Price Changed $249,000 Beaches MLS
• 2026-04-17 Price Changed $259,000 Beaches MLS
• 2026-03-06 Relisted — Beaches MLS
• 2026-02-27 Contingent — Beaches MLS
• 2026-02-16 Listed $265,000 Beaches MLS
• 2018-05-11 Sold (MLS) $194,900 Beaches MLS
• 2018-04-30 Pending — Beaches MLS
• 2018-04-20 Contingent — Beaches MLS
• 2018-02-18 Price Changed $199,000 Beaches MLS
• 2017-12-05 Listed $204,900 Beaches MLS