8403 SE Pettway St · Hobe Sound, FL 33455

$395,000

3 bd · 2.5 ba · 1,800 sqft · SingleFamily public records · 84 Days on market

Built 1998 6,823 sqft lot $219/sqft · 40% below area Est $659k · 40% under

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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 +18.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• Schools +4.5/10.0
• 1% rule +3.9/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 8403 SE Pettway Street in the heart of Hobe Sound—a charming single-family home offering comfort, space, and Florida lifestyle living. This 3-bedroom, 2.5-bath residence features approximately 1,800 square feet of living space with a functional layout perfect for everyday living or entertaining. Built in 1998 and situated on a nearly 7,000 sq ft lot, the property includes an attached garage and solid concrete block construction for durability and peace of mind. Ideally located just minutes from beautiful beaches, parks, and local amenities, this home offers convenience with a laid-back coastal feel. Whether you're a first-time buyer, seasonal resident, or investor, this property is a great opportunity to enjoy the Treasure Coast lifestyle while adding your personal touch.

Key facts

• 6,823 sq ft lot
• Garage
• Built 1998

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $395k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $350k (11.4% below list).
• Recommended offer: $350k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 3.5% in Hobe Sound — 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 69/100 on livability (#497 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A; Watch: employment C-, 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 (+1.8%/yr); 279 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).
• At $3,499/mo this rent would consume 60% of the median local household income ($70k/yr) (locally 317% 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 $12k 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 84 days — a 6% lower offer ($371k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $12k; list at $395k implies a 3060% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $349,937 (11.4% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 7.48%
• Cash-on-cash: 4.24%
• DSCR: 1.19
• GRM: 9.4

CMA / ARV

• ARV (median comp): $659,262
• List price: $395,000
• Delta: -40.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8565 SE Gulfstream Pl	0.15mi	3/2.0	1,806 (+0%)	7mo	$925,000	$512	85
8361 SE Quail Ridge Way	0.18mi	3/2.0	1,788 (-1%)	8mo	$725,000	$405	82
10636 SE Rosemarie Ct	0.48mi	4/2.5 (+1)	1,867 (+4%)	5mo	$437,500	$234	62
8646 SE Alabama Pl	0.44mi	4/2.0 (+1)	1,730 (-4%)	4mo	$550,000	$318	62
10340 SE Jupiter Narrows Dr	0.52mi	3/2.0	1,915 (+6%)	2mo	$520,000	$272	62
8884 SE Sandcastle Cir	0.66mi	3/2.0	1,860 (+3%)	6mo	$625,000	$336	57
8996 SE Bahama Cir	0.69mi	3/2.5	1,717 (-5%)	4mo	$515,000	$300	57
10690 SE Jupiter Narrows Dr	0.70mi	3/2.0	1,942 (+8%)	3mo	$725,000	$373	50
10570 SE Jupiter Narrows Dr	0.65mi	3/2.0	1,882 (+5%)	13mo	$750,000	$399	50
8284 SE Woodmere St	0.41mi	3/2.0	2,038 (+13%)	16mo	$800,000	$393	44
8744 SE Jardin St	0.51mi	4/2.0 (+1)	1,624 (-10%)	12mo	$530,000	$326	42
9019 SE Hawksbill Way	0.54mi	2/2.0 (-1)	1,641 (-9%)	15mo	$1,350,000	$823	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.8% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.61×
• Total profit: $-43,453
• Equity at exit: $58,896

10-year hold

• IRR: -3.3%
• Equity multiple: 0.79×
• Total profit: $-23,181
• Equity at exit: $34,152

Cash invested: $110,600 (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 33455

• Rents YoY: 1.8%
• Active inventory: 279
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $3,499 high
• Mortgage (P&I): −$2,071
• Tax from tax record: −$138 /mo · $1,651/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $391

Break-even live

Break-even rent $3,005

Max offer price $395,000

Occupancy floor 84%

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8574 SE Seagrape Way Hobe Sound, FL	3.0	2.0	1476	$3,600	$2.44	23d	1	0.22mi
10230 SE Federal Hwy Lot A Hobe Sound, FL	3.0	2.0	1600	$1,850	$1.16	23d	1	0.31mi
7916 SE Sugar Pines Way Hobe Sound, FL	2.0	2.0	1350	$2,700	$2.00	13d	1	0.58mi
9627 Crest Ct Hobe Sound, FL	2.0	2.0	1400	$2,500	$1.79	13d	1	0.58mi
9650 SE Eagle Ave Hobe Sound, FL	2.0	2.0–2.5	1241	$2,330	$1.88	23d	5	0.70mi
11269 SE Blair Ln Hobe Sound, FL	3.0	3.0	2523	$25,000	$9.91	23d	1	0.93mi
8014 SE Carlton St Hobe Sound, FL	3.0	2.0	1463	$3,500	$2.39	23d	1	1.00mi
8968 SE Pine Cone Ln Hobe Sound, FL	3.0	2.0	1383	$2,700	$1.95	23d	1	1.03mi
8455 SE Palm St Hobe Sound, FL	2.0	2.0	1423	$4,700	$3.30	13d	1	1.06mi
8585 SE Palm St Hobe Sound, FL	2.0	2.0	1304	$10,000	$7.67	13d	1	1.12mi
8585 SE Palm St Hobe Sound, FL	2.0	2.0	1304	$10,000	$7.67	23d	1	1.12mi
8075 SE Governors Way Hobe Sound, FL	4.0	2.5	2237	$6,000	$2.68	23d	1	1.16mi

Listing history 19 events

1. 2026-06-18
   days on market $395,000 Active 84 DOM
2. 2026-06-17
   days on market $395,000 Active 83 DOM
3. 2026-06-16
   days on market $395,000 Active 82 DOM
4. 2026-06-15
   days on market $395,000 Active 81 DOM
5. 2026-06-14
   days on market $395,000 Active 79 DOM
6. 2026-06-13
   days on market $395,000 Active 78 DOM
7. 2026-06-10
   days on market $395,000 Active 76 DOM
8. 2026-06-09
   days on market $395,000 Active 75 DOM
9. 2026-06-08
   days on market $395,000 Active 74 DOM
10. 2026-06-07
    days on market $395,000 Active 73 DOM
11. 2026-06-03
    days on market $395,000 Active 69 DOM
12. 2026-06-02
    days on market $395,000 Active 68 DOM
13. 2026-06-01
    days on market $395,000 Active 67 DOM
14. 2026-05-31
    days on market $395,000 Active 66 DOM
15. 2026-05-31
    pricedays on market $395,000 Active 65 DOM
16. 2026-04-20
    price $400,000 800-char remark

    Show marketing remark (800 chars)

    Welcome to 8403 SE Pettway Street in the heart of Hobe Sound—a charming single-family home offering comfort, space, and Florida lifestyle living. This 3-bedroom, 2.5-bath residence features approximately 1,800 square feet of living space with a functional layout perfect for everyday living or entertaining. Built in 1998 and situated on a nearly 7,000 sq ft lot, the property includes an attached garage and solid concrete block construction for durability and peace of mind. Ideally located just minutes from beautiful beaches, parks, and local amenities, this home offers convenience with a laid-back coastal feel. Whether you're a first-time buyer, seasonal resident, or investor, this property is a great opportunity to enjoy the Treasure Coast lifestyle while adding your personal touch.

17. 2026-04-02
    price $425,000 800-char remark

    Show marketing remark (800 chars)

    Welcome to 8403 SE Pettway Street in the heart of Hobe Sound—a charming single-family home offering comfort, space, and Florida lifestyle living. This 3-bedroom, 2.5-bath residence features approximately 1,800 square feet of living space with a functional layout perfect for everyday living or entertaining. Built in 1998 and situated on a nearly 7,000 sq ft lot, the property includes an attached garage and solid concrete block construction for durability and peace of mind. Ideally located just minutes from beautiful beaches, parks, and local amenities, this home offers convenience with a laid-back coastal feel. Whether you're a first-time buyer, seasonal resident, or investor, this property is a great opportunity to enjoy the Treasure Coast lifestyle while adding your personal touch.

18. 2026-03-26
    listed $450,000 Active 800-char remark

    Show marketing remark (800 chars)

    Welcome to 8403 SE Pettway Street in the heart of Hobe Sound—a charming single-family home offering comfort, space, and Florida lifestyle living. This 3-bedroom, 2.5-bath residence features approximately 1,800 square feet of living space with a functional layout perfect for everyday living or entertaining. Built in 1998 and situated on a nearly 7,000 sq ft lot, the property includes an attached garage and solid concrete block construction for durability and peace of mind. Ideally located just minutes from beautiful beaches, parks, and local amenities, this home offers convenience with a laid-back coastal feel. Whether you're a first-time buyer, seasonal resident, or investor, this property is a great opportunity to enjoy the Treasure Coast lifestyle while adding your personal touch.

19. 1995-02-24
    soldstatus $12,500

ⓘ 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: $1,651 · $138/mo
• Projected year-2 tax: $3,278 · $273/mo
• Expected delta: +$1,627/yr (+$136/mo · 98.5%)

ⓘ 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 3/10 Moderate
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,992
• − Mortgage interest: −$22,126
• − Property taxes: −$1,651
• − Insurance: −$1,975
• − Repairs & maintenance: −$3,359
• − Management: −$3,359
• − Depreciation: −$11,491
• Taxable loss: −$1,970
• Est. tax savings @ 24.0%: +$473
• After-tax cash flow: $5,163/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 — Hobe Sound

• Score: 69/100
• State rank: #497
• US rank: #8763

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hobe Sound, FL
• County: Martin County · 165,223 people
• City population: 20,018
• Metro: Port St. Lucie, FL
• Population (ZIP): 20,018
• Household income: $70,389
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 317.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 8% Two or more races 6% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Dominican 1%
• Common ancestry: Romanian 5% Italian 2% Slovak 2%
• Foreign-born: 8% · Canada
• Languages at home: 91% English-only · Spanish 6% 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: ▼ -287.05%
• Current HPI: 356.7273
• Rent YoY: ▲ 1.80%
• 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

+3100.0% since first listed

4 events — show timeline

• 2026-04-20 Price Changed $400,000 Beaches MLS
• 2026-04-02 Price Changed $425,000 Beaches MLS
• 2026-03-26 Listed $450,000 Beaches MLS
• 1995-02-24 Sold (Public Records) $12,500 Public Records

Property tax history

-0.3%/yr

Latest (2025): $1,651 · +0.5% YoY. Source: county tax records.