5277 SE Sea Island Way · Port Salerno, FL 34997

$350,000

2 bd · 2.0 ba · 1,501 sqft · Condo public records · 99 Days on market

Built 1979 $233/sqft · 21% below area Est $445k · 21% under $375/mo HOA · 14% 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).

• ARV discount +15.0/15.0
• Cash flow +7.5/30.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

EXCEPTIONAL LOCATION FOR THIS CHARMING HOME LOCATED IN THE DESIRABLE FAIRWAY VILLAS COMMUNITY OF MILES GRANT. (ALL AGES WELCOME). THIS LOVELY HOME HAS 2 BEDROOMS, 2 BATHROOMS, A SPACIOUS LIVING ROOM WITH 2 DOORS TO THE HUGE SUNNY FLORIDA ROOM. THE BATHROOMS VANITIES ARE UPDATED AND THE ROOF WAS REDONE IN 2014. WITH 1500 SF OF LIVING YOU HAVE MANY POSSIBILITIES TO CREATE YOUR OWN DESIGN. EACH OWNER IS RESPONSIBLE TO MAINTAIN THEIR HOME. THE COMMUNITY HAS A NICE POOL JUST A FEW STEPS FROM THE HOUSE. THE CONDO FEES ARE $1125. QUARTERLY INCLUDE LAWN, CABLE/ INTERNET. APPL: $100. PEOPLE CAN JOIN MILES GRANT CLUB MEMBERSHIP BUT IT IS NOT MANDATORY. LOCATED WITHIN A FEW MILES TO ALL SERVICES AND VERY CLOSE TO THE INTRACOASTAL. PERFECT FOR SNOWBIRDS OR FULL TIME RESIDENTS. NO TRUCK ALLOWED.

Key facts

• Nice pool
• Redone roof
• 11.53 acre lot

Tags

• HUGE SUNNY FLORIDA ROOM
• UPDATED BATHROOM VANITIES
• REDONE ROOF
• NICE POOL
• CLOSE TO THE INTRACOASTAL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $350k.

Deal economics

• At list price, monthly cash flow is $-438 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $273k (22.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $264k (24.6% below list).
• Recommended offer: $264k (24.6% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.1% in Port Salerno — 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 70/100 on livability (#440 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, health & safety A; Watch: schools D, amenities F, commute F.
• Martin (suburban): math 52% / reading 53% proficiency, ranked #24 of 73 in FL (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.7%/yr); 588 active listings in the ZIP; 29 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; 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).
• This rent runs 41% of the median local income ($78k/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.
• Martin County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($318k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $110k; list at $350k implies a 218% gain — meaningful room to come down on a strong offer.

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 $264,032 (24.6% 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 99 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.75% ✗
• Cap rate: 4.79%
• Cash-on-cash: -5.36%
• DSCR: 0.76
• GRM: 11.0

CMA / ARV

• ARV (median comp): $445,319
• List price: $350,000
• Delta: -21.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.71% rent growth · sell at horizon

5-year hold

• IRR: -25.7%
• Equity multiple: 0.13×
• Total profit: $-85,245
• Equity at exit: $52,186

10-year hold

• IRR: -23.1%
• Equity multiple: -0.15×
• Total profit: $-112,823
• Equity at exit: $30,262

Cash invested: $98,000 (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 34997

• Rents YoY: 2.7%
• Active inventory: 588
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,640 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$167 /mo · $2,005/yr
• Insurance: −$146
• HOA: −$375
• Vacancy / Maint / Mgmt: −$554
• Net cashflow: $-438

Break-even live

Break-even rent $3,194

Max offer price $272,710

Occupancy floor —

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5674 SE Riverboat Dr #131 Stuart, FL	2.0	2.5	1288	$2,600	$2.02	23d	1	0.24mi
5674 SE Riverboat Dr #131 Stuart, FL	2.0	2.5	1288	$2,400	$1.86	21d	1	0.24mi
4621 SE Shady Ridge Ln Stuart, FL	2.0	1.0	1660	$2,100	$1.27	14d	1	0.33mi
5403 SE Miles Grant Rd Stuart, FL	2.0	2.0	1186	$1,750	$1.48	23d	2	0.42mi
4885 SE Capstan Ave #27 Stuart, FL	2.0	2.0	1273	$2,500	$1.96	23d	1	0.53mi
6003 SE Riverboat Dr #802 Stuart, FL	2.0	2.5	1288	$2,200	$1.71	23d	1	0.58mi
4650 SE Manatee Way Stuart, FL	3.0	2.5	1764	$5,900	$3.34	23d	1	0.60mi
5359 SE Dell St Stuart, FL	3.0	2.0	1272	$2,800	$2.20	23d	1	0.64mi
5795 SE Mitzi Ln Stuart, FL	3.0	2.0	1315	$3,000	$2.28	23d	1	0.71mi
6021 SE Landing Way #2 Stuart, FL	2.0	2.0	1135	$2,500	$2.20	23d	1	0.72mi
6082 SE Landing Way #7 Stuart, FL	2.0	2.0	1135	$3,000	$2.64	23d	1	0.77mi
4710 SE Glenridge Trl Stuart, FL	3.0	2.0	1442	$3,300	$2.29	14d	1	0.79mi
6146 SE Riverboat Dr #918 Stuart, FL	2.0	2.5	1288	$1,950	$1.51	23d	1	0.79mi
5636 SE Foxcross Pl Stuart, FL	2.0	2.0	1598	$9,000	$5.63	14d	1	0.80mi
6142 SE Landing Way Unit 9-11 Stuart, FL	2.0	2.0	1135	$3,500	$3.08	23d	1	0.80mi
6102 SE Landing Way #13 Stuart, FL	3.0	2.0	1590	$2,000	$1.26	23d	1	0.84mi
6142 SE Landing Way #16 Stuart, FL	2.0	2.0	1590	$3,750	$2.36	23d	1	0.91mi
4939 SE Salvatori Rd Stuart, FL	3.0	2.0	1334	$2,500	$1.87	23d	1	1.08mi
5280 SE Seascape Way #101 Stuart, FL	3.0	3.0	1561	$2,500	$1.60	14d	1	1.11mi
4107 SE Barcelona St Stuart, FL	2.0	1.0	1224	$2,500	$2.04	23d	1	1.12mi
5881 SE Windsong Ln Stuart, FL	2.0	2.5	1288	$2,100	$1.63	14d	1	1.17mi
5300 SE Schooner Oaks Way Stuart, FL	3.0	2.0	1600	$3,700	$2.31	23d	1	1.21mi
4189 SE Saint Lucie Blvd Stuart, FL	2.0	2.5	1760	$5,500	$3.12	23d	1	1.25mi
4421 SE Village Rd Stuart, FL	2.0	2.0	1080	$2,100	$1.94	23d	1	1.25mi
4095 SE Centerboard Ln Unit 6B Stuart, FL	2.0	2.0	1154	$3,750	$3.25	23d	1	1.34mi
6531 SE Federal Hwy Stuart, FL	2.0	2.0	1100	$1,725	$1.57	14d	2	1.35mi
5152 SE Club Way #104 Stuart, FL	2.0	2.0	1358	$7,500	$5.52	14d	1	1.37mi
3901 SE Saint Lucie Blvd Stuart, FL	2.0	2.0–2.5	1407	$3,875	$2.75	23d	4	1.39mi
3901 SE Saint Lucie Blvd Unit D29 Stuart, FL	2.0	2.0	1460	$3,000	$2.05	23d	1	1.41mi

HOA detail condo

• Monthly dues: $375 · $4,500/yr
• Likely covers: internetcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $350,000 Active 99 DOM
2. 2026-06-17
   days on market $350,000 Active 98 DOM
3. 2026-06-16
   days on market $350,000 Active 97 DOM
4. 2026-06-15
   days on market $350,000 Active 96 DOM
5. 2026-06-14
   days on market $350,000 Active 94 DOM
6. 2026-06-13
   days on market $350,000 Active 93 DOM
7. 2026-06-10
   days on market $350,000 Active 91 DOM
8. 2026-06-09
   days on market $350,000 Active 90 DOM
9. 2026-06-08
   days on market $350,000 Active 89 DOM
10. 2026-06-07
    days on market $350,000 Active 88 DOM
11. 2026-06-03
    days on market $350,000 Active 84 DOM
12. 2026-06-02
    days on market $350,000 Active 83 DOM
13. 2026-06-01
    days on market $350,000 Active 82 DOM
14. 2026-05-31
    days on market $350,000 Active 81 DOM
15. 2026-05-31
    days on market $350,000 Active 80 DOM
16. 2025-12-15
    listed $350,000 Active 794-char remark

    Show marketing remark (794 chars)

    EXCEPTIONAL LOCATION FOR THIS CHARMING HOME LOCATED IN THE DESIRABLE FAIRWAY VILLAS COMMUNITY OF MILES GRANT. (ALL AGES WELCOME). THIS LOVELY HOME HAS 2 BEDROOMS, 2 BATHROOMS, A SPACIOUS LIVING ROOM WITH 2 DOORS TO THE HUGE SUNNY FLORIDA ROOM. THE BATHROOMS VANITIES ARE UPDATED AND THE ROOF WAS REDONE IN 2014. WITH 1500 SF OF LIVING YOU HAVE MANY POSSIBILITIES TO CREATE YOUR OWN DESIGN. EACH OWNER IS RESPONSIBLE TO MAINTAIN THEIR HOME. THE COMMUNITY HAS A NICE POOL JUST A FEW STEPS FROM THE HOUSE. THE CONDO FEES ARE $1125. QUARTERLY INCLUDE LAWN, CABLE/ INTERNET. APPL: $100. PEOPLE CAN JOIN MILES GRANT CLUB MEMBERSHIP BUT IT IS NOT MANDATORY. LOCATED WITHIN A FEW MILES TO ALL SERVICES AND VERY CLOSE TO THE INTRACOASTAL. PERFECT FOR SNOWBIRDS OR FULL TIME RESIDENTS. NO TRUCK ALLOWED.

17. 1989-05-02
    soldstatus $110,000

ⓘ 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: $2,005 · $167/mo
• Projected year-2 tax: $2,905 · $242/mo
• Expected delta: +$900/yr (+$75/mo · 44.9%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 25 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: $31,684
• − Mortgage interest: −$19,605
• − Property taxes: −$2,005
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,535
• − Management: −$2,535
• − HOA: −$4,500
• − Depreciation: −$10,182
• Taxable loss: −$11,428
• Est. tax savings @ 24.0%: +$2,743
• After-tax cash flow: $-2,508/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: Martin
• NCES district ID: 1201290
• Math proficiency: 52% ▼ -14.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $52,482
• Composite: 45.1/100
• National rank: #2690
• State rank: #24 of 73 in FL

Livability — Port Salerno

• Score: 70/100
• State rank: #440
• US rank: #7873

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Salerno, FL
• County: Martin County · 165,223 people
• Metro: Port St. Lucie, FL
• Population (ZIP): 47,075
• Household income: $78,136
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 1323.0

Population outlook (Martin County) Hauer SSP2

• Today (2025): 172,383 people
• By 2030: 180,192 · +4.5%
• By 2040: 194,114 · +12.6%
• By 2050: 204,992 · +18.9%
• By 2075: 229,641 · +33.2%
• By 2100: 232,146 · +34.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 19% Two or more races 9% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 14% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Martin

• 2024 margin: Solid R (+31.1) · D 34.1% · R 65.2%
• 2008→2024 swing: -17.5pp toward R · 2008: -13.6pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+24.6 2016: R+26.9 2012: R+22.9 2008: R+13.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -319.78%
• Current HPI: 336.7717
• Rent YoY: ▲ 2.71%
• 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

+218.2% since first listed

2 events — show timeline

• 2025-12-15 Listed $350,000 Beaches MLS
• 1989-05-02 Sold (Public Records) $110,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $2,005 · +0.2% YoY. Source: county tax records.