At $120k for a 2-bed condo in Vero Beach, you're looking at a seriously discounted entry point to the Treasure Coast, though the 1976 build date and price per square foot suggest this unit likely needs significant updating or sits in a less desirable pocket of the market—worth investigating what comparable newer units are fetching to understand if this is a value play or a value trap. The no-HOA structure is a genuine plus given condo fees in Florida can be substantial, but you'll want to scrutinize the building's reserve fund and recent special assessments, since older complexes without HOA oversight sometimes defer maintenance until problems become expensive. This price makes sense only if you're either a flipper with renovation capital or someone betting on Vero's continued appeal to affluent second-home buyers despite needing to improve the unit itself.

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