501 Wendell Rd · Fort Pierce, FL 34950

$421,000

2 bd · 2.0 ba · 1,920 sqft · MultiFamily public records · 272 Days on market

Built 1951

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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 +24.9/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Great opportunity for investors ! Duplex for sale. 2 units completely renovated. Unit A is a 2 bedroom 1 bathroom, unit B is a 3 bedroom 1 bathroom. NO HOA. 1 water and electric meter for both units.

Key facts

• 2 parking spots
• Built 1951
• Listed 271 days

Property features AI

Exterior

• Parking: Open parking with a total of 2 parking spaces
• Utilities: Public water; Public sewer; Cable not available
• Home design: Single-story building; Resale property; Shingle roof; Block construction
• Construction: Block construction; Shingle roof
• Exterior features: Less than quarter acre lot; Zoned Medium D

Interior

• Bedrooms: Two 3-bedroom units; One 2-bedroom unit
• Flooring: Tile
• Bathrooms: Three units with 1 full bathroom each
• Heating & cooling: Cooling provided by wall/window units
• Interior features: Tile flooring; Wall/window cooling units

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.5-bath units multifamily listed at $421k.

Deal economics

• At list price, monthly cash flow is $906 ($11k/yr) — positive. Per door: $453/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $421k).
• Recommended offer: $370k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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+, schools D, amenities 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.
• Market conditions: Rents rising fast (+5.9%/yr); 165 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• At $4,656/mo this rent would consume 184% of the median local household income ($30k/yr) (locally 1995% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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.
• At projected returns (-3.0% appreciation + 5.9% rent growth), your $118k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 272 days — a 12% lower offer ($370k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $210k; list at $421k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $370,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 272 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.11% ✓
• Cap rate: 8.87%
• Cash-on-cash: 9.22%
• DSCR: 1.41
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.94% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $3,638
• Equity at exit: $62,772

10-year hold

• IRR: 13.1%
• Equity multiple: 2.18×
• Total profit: $139,202
• Equity at exit: $36,400

Cash invested: $117,880 (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 34950

• Home prices YoY: -20.2%
• Rents YoY: 5.9%
• Active inventory: 165
• Price-to-rent: 15.1×

Monthly cashflow live

• Estimated rent: $4,656 medium
• Mortgage (P&I): −$2,208
• Tax from tax record: −$389 /mo · $4,670/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$978
• Net cashflow: $906

Break-even live

Break-even rent $3,509

Max offer price $421,000

Occupancy floor 76%

Sensitivity live

Price	-10% $1,144	-5% $1,025	+0% $906	+5% $787	+10% $668
Rent	-10% $538	-5% $722	+0% $906	+5% $1,090	+10% $1,274
Rate	-1.0pp $1,118	-0.5pp $1,013	base $906	+0.5pp $797	+1.0pp $686

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	1.5	$4,656
Total (2 units)			$4,656

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: $105,250
• Closing costs: $12,630
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
501 Wendell Rd Unit A Fort Pierce, FL	2.0	1.0	1920	$1,790	$0.93	24d	1	0.03mi
1701 Sunrise Blvd Fort Pierce, FL	3.0	2.0	1518	$2,000	$1.32	14d	1	0.33mi
1433 Captains Walk Unit A Fort Pierce, FL	2.0	2.0	1850	$2,500	$1.35	24d	1	0.68mi
1439 Captains Walk Unit 20D Fort Pierce, FL	2.0	2.0	1280	$2,000	$1.56	21d	1	0.70mi
1567 Pheasant Walk Unit B Fort Pierce, FL	2.0	2.0	1280	$1,900	$1.48	14d	1	0.83mi
308 S 8th St Fort Pierce, FL	2.0	2.0	1696	$1,900	$1.12	24d	1	0.84mi
1800 Nebraska Ave Unit 202 Fort Pierce, FL	2.0	2.0	1312	$1,749	$1.33	24d	1	0.89mi
20 Orange Ave Fort Pierce, FL	2.0	2.0	1228	$3,025	$2.46	24d	2	1.08mi
2902 Oleander Blvd Fort Pierce, FL	3.0	2.0	1276	$2,700	$2.12	24d	1	1.34mi
513 N 9th St Unit B Fort Pierce, FL	3.0	2.0	1250	$2,300	$1.84	24d	1	1.42mi

Listing history 16 events

1. 2026-06-10
   days on market $421,000 Active 272 DOM
2. 2026-06-09
   days on market $421,000 Active 271 DOM
3. 2026-06-09
   price $421,000 Active 270 DOM
4. 2026-06-08
   days on market $419,000 Active 270 DOM
5. 2026-06-07
   days on market $419,000 Active 269 DOM
6. 2026-06-05
   days on market $419,000 Active 266 DOM
7. 2026-06-03
   days on market $419,000 Active 265 DOM
8. 2026-06-02
   days on market $419,000 Active 264 DOM
9. 2026-06-01
   days on market $419,000 Active 263 DOM
10. 2026-05-31
    days on market $419,000 Active 262 DOM
11. 2026-05-30
    days on market $419,000 Active 261 DOM
12. 2026-05-28
    status Active
13. 2025-08-21
    listed $419,000 Active
14. 2024-06-17
    soldstatus $210,000
15. 2024-05-24
    listed $259,000 Active
16. 1991-03-29
    soldstatus $52,000

ⓘ 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: $4,670 · $389/mo
• Projected year-2 tax: $4,670 · $389/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 26 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: $55,872
• − Mortgage interest: −$23,583
• − Property taxes: −$4,670
• − Insurance: −$2,105
• − Repairs & maintenance: −$4,470
• − Management: −$4,470
• − Depreciation: −$12,247
• Taxable income: $4,327
• Est. tax owed @ 24.0%: −$1,039
• After-tax cash flow: $9,832/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): 17,461
• Household income: $30,400
• Rent vs Own: 61.1% rent · 38.9% own
• Severe rent burden: 1995.0

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: Majority Black (63%)
• Race & ethnicity: Black 63% Hispanic / Latino 19% White 17% Two or more races 10%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2% Cuban 1%
• Common ancestry: Hispanic 17% Portuguese 1%
• Foreign-born: 23% · Canada
• Languages at home: 69% English-only · Spanish 14% French/Haitian/Cajun 12% Other Indo-European 4%

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: ▼ -97.20%
• Current HPI: 384.8532
• Rent YoY: ▲ 5.94%
• 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

+705.8% since first listed

5 events — show timeline

• 2026-05-28 Relisted — MARMLS
• 2025-08-21 Listed $419,000 MARMLS
• 2024-06-17 Sold (Public Records) $210,000 Public Records
• 2024-05-24 Listed $259,000 Beaches MLS
• 1991-03-29 Sold (Public Records) $52,000 Public Records

Property tax history

+15.9%/yr

Latest (2025): $4,670 · +56.8% YoY. Source: county tax records.