2600 S Kanner Hwy Unit A5 · Stuart, FL 34994

$165,000

2 bd · 1.5 ba · 820 sqft · Condo public records · 59 Days on market

Built 1972 $390/mo HOA · 19% of rent

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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 +22.4/30.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

PRICED BELOW MARKET VALUE. Live the Florida life in this FIRST FLOOR waterfront condo! This 2/2 has ample living space, an open kitchen, two full bathrooms and nicely sized bedrooms. It is just waiting for you to come put your personal touch on it and make it your Florida home! De La Bahia is an active 55+ community with a clubhouse, pool, social activities and a boating lifestyle! An amazing value, the condo fee includes common areas, roofs, exterior maintenance, amenities, cable, water/sewer and trash. It is also located near plenty of dining and shopping (many in walking distance) and a short drive to the beaches. If you've been dreaming of Florida, this is for you!

Key facts

• Dining and shopping
• Clubhouse
• Active 55+ community

Tags

• FIRST FLOOR WATERFRONT
• ACTIVE 55+ COMMUNITY
• CLUBHOUSE
• POOL
• BOATING LIFESTYLE
• DINING AND SHOPPING

Property features AI

Finance

• Financial info: Pets allowed with limits on number and size
• HOA & community: Homeowners association with a monthly fee; Association fee covers management, common areas, cable TV, insurance, grounds maintenance, structure maintenance, parking, recreation facilities, reserve fund, road maintenance, sewer, trash, and water; Community features include barbecue, boat facilities, billiard room, bicycle storage, clubhouse, dock, library, non-gated access, park, pool, shuffleboard, and marina; Senior community; 12 units in the community

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Cable available; Public water connected; Public sewer connected
• Home design: 2-story property; Resale
• Construction: Block and concrete construction; Built-up / tar and gravel roof
• Exterior features: Community pool; Canal access; Ocean access; Waterfront; Has a view; Private road frontage

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric, individual controls); Central air conditioning (electric)
• Interior features: Unfurnished; Separate shower; Walk-in closet(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.1% in Stuart — 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 84/100 on livability (#39 in FL, #790 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: crime C-, employment C-, amenities D.
• 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 soft (-0.7%/yr); 256 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).
• This rent runs 40% of the median local income ($63k/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 $1k of loan paydown is wiped out by about $5k 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 59 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 28y ago; this cycle's ask has dropped $25k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $68k; list at $165k implies a 143% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. 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: 1.26% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.12%
• DSCR: 1.32
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.67×
• Total profit: $-15,208
• Equity at exit: $24,602

10-year hold

• IRR: -5.4%
• Equity multiple: 0.71×
• Total profit: $-13,623
• Equity at exit: $14,266

Cash invested: $46,200 (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 34994

• Home prices YoY: -27.1%
• Rents YoY: -0.7%
• Active inventory: 256
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,079 high
• Mortgage (P&I): −$865
• Tax from tax record: −$44 /mo · $534/yr
• Insurance: −$69
• HOA: −$390
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $274

Break-even live

Break-even rent $1,732

Max offer price $165,000

Occupancy floor 82%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2600 S Kanner Hwy Stuart, FL	1.0–2.0	1.5–2.0	890	$1,950	$2.19	14d	3	0.08mi
1950 SW Palm City Rd Stuart, FL	2.0	2.0	1031	$3,150	$3.05	23d	3	0.44mi
1950 SW Palm City Rd Unit 4-4205 Stuart, FL	2.0	2.0	938	$2,400	$2.56	14d	1	0.45mi
1900 S Kanner Hwy Unit 2-203 Stuart, FL	2.0	2.0	1086	$1,800	$1.66	14d	1	0.57mi
2819 SW Cornell Ave Palm City, FL	2.0	1.5	1060	$2,150	$2.03	21d	1	0.59mi
400 SE Central Pkwy Stuart, FL	1.0–2.0	1.0–2.0	918	$2,640	$2.87	14d	16	0.80mi
544 SW 35th St Palm City, FL	2.0	1.0	850	$1,850	$2.18	23d	1	0.85mi
664 SW 35th St Unit 6 Palm City, FL	2.0	1.5	900	$1,850	$2.06	14d	1	0.88mi
664 SW 35th St Apt 3 Palm City, FL	2.0	1.5	900	$1,775	$1.97	14d	1	0.89mi
801 SE Central Pkwy #7 Stuart, FL	2.0	2.0	1046	$2,150	$2.06	14d	1	0.93mi
3375 SW Mapp Rd Unit 204 Palm City, FL	3.0	2.0	1067	$2,300	$2.16	23d	1	1.07mi
3800 S Kanner Hwy Stuart, FL	3.0	1.0–2.0	970	$2,604	$2.68	14d	21	1.08mi
2124 SE Edler Dr Stuart, FL	2.0	2.0	876	$1,800	$2.05	23d	1	1.13mi
2118 SE Edler Dr Unit B Stuart, FL	2.0	2.0	876	$1,995	$2.28	23d	1	1.14mi
1485 SW Silver Pine Way Unit 107 B-2 Palm City, FL	1.0	1.0	830	$1,650	$1.99	23d	1	1.14mi
2104 SE Edler Dr Stuart, FL	1.0	1.0	726	$1,500	$2.07	23d	1	1.15mi
950 S Kanner Hwy Stuart, FL	1.0–2.0	1.0–2.0	850	$2,000	$2.35	14d	4	1.16mi
950 S Kanner Hwy Stuart, FL	1.0–2.0	1.0–2.5	1062	$2,000	$1.88	23d	5	1.16mi
950 S Kanner Hwy Stuart, FL	2.0	2.0	1019	$1,888	$1.85	21d	3	1.16mi
3031 SE Aster Ln Unit 608 Stuart, FL	2.0	2.0	1019	$1,870	$1.84	23d	1	1.20mi
3151 SE Aster Ln #1306 Stuart, FL	2.0	2.0	1034	$1,800	$1.74	23d	1	1.21mi
1215 SE Glenwood Dr Stuart, FL	2.0	2.0	1089	$1,859	$1.71	14d	10	1.21mi
1605 SW Silver Pine Way Unit F2 Palm City, FL	2.0	2.0	1111	$2,000	$1.80	23d	1	1.27mi
1290 SE Parkview Pl Unit A2 Stuart, FL	2.0	2.0	1021	$1,800	$1.76	21d	1	1.28mi
3302 SE Aster Ln Stuart, FL	2.0	2.0	888	$1,900	$2.14	23d	1	1.33mi
2703 SW Matheson Ave Unit 116-G2 Palm City, FL	1.0	1.0	842	$1,400	$1.66	23d	1	1.43mi
2703 SW Matheson Ave Unit 116- B1 Palm City, FL	1.0	1.0	842	$1,750	$2.08	14d	1	1.43mi
801 SE Central Ave Stuart, FL	3.0	1.0	899	$2,300	$2.56	14d	1	1.47mi
917 SE Nassau Ave Stuart, FL	2.0	1.0	832	$1,900	$2.28	21d	1	1.49mi
917 SE Nassau Ave Stuart, FL	2.0	1.0	832	$3,800	$4.57	23d	1	1.49mi
300 SW South River Dr #206 Stuart, FL	2.0	2.0	1107	$1,975	$1.78	23d	1	1.50mi
301 SW South River Dr #104 Stuart, FL	1.0	1.0	697	$1,500	$2.15	23d	1	1.50mi

HOA detail condo

• Monthly dues: $390 · $4,680/yr
• Likely covers: watersewertrashcableexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-05-31
   status $165,000 Pending 59 DOM
2. 2026-05-14
   historical Active Under Contract
3. 2026-05-12
   price $165,000
4. 2026-04-28
   price $170,000
5. 2026-04-15
   price $180,000
6. 2026-03-25
   listed $190,000 Active
7. 2026-03-20
   historical
8. 2026-03-13
   price $204,900
9. 2026-03-01
   listed $209,000 Active
10. 2026-02-04
    historical
11. 2025-11-01
    historical
12. 2025-09-25
    price $217,900
13. 2025-09-25
    price $217,900
14. 2025-06-04
    price $219,900
15. 2025-06-03
    price $219,900
16. 2025-05-21
    price $225,000
17. 2025-05-20
    price $225,000
18. 2025-04-18
    listed $235,000 Active
19. 2025-04-03
    listed $235,000 Active
20. 2024-12-09
    historical
21. 2024-10-30
    listed $245,000 Active
22. 2024-10-23
    historical
23. 2024-10-04
    listed $250,000 Active
24. 2010-12-21
    historical
25. 2010-07-19
    listed $122,000
26. 2002-02-28
    soldstatus $68,000
27. 2001-10-03
    soldstatus $57,000
28. 1998-03-20
    soldstatus $59,000
29. 1998-03-19
    soldstatus $59,000
30. 1998-02-23
    listed $64,000
31. 1996-08-08
    soldstatus $61,000

ⓘ 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: $534 · $44/mo
• Projected year-2 tax: $1,370 · $114/mo
• Expected delta: +$836/yr (+$70/mo · 156.5%)

ⓘ 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 (shaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 22 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: $24,949
• − Mortgage interest: −$9,243
• − Property taxes: −$534
• − Insurance: −$825
• − Repairs & maintenance: −$1,996
• − Management: −$1,996
• − HOA: −$4,680
• − Depreciation: −$4,800
• Taxable income: $876
• Est. tax owed @ 24.0%: −$210
• After-tax cash flow: $3,078/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 — Stuart

• Score: 84/100
• State rank: #39
• US rank: #790

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Martin County · 165,223 people
• City population: 65,812
• Metro: Port St. Lucie, FL
• Population (ZIP): 18,737
• Household income: $62,533
• Rent vs Own: 42.1% rent · 57.9% own
• Severe rent burden: 1408.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 21% Two or more races 12% Black 11%
• Hispanic origin (detail): Mexican 6% Puerto Rican 5% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 12% · Canada
• Languages at home: 80% English-only · Spanish 16% Russian/Polish/Slavic 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: ▼ -130.08%
• Current HPI: 349.7061
• Rent YoY: ▼ -0.69%
• 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

+170.5% since first listed

30 events — show timeline

• 2026-05-14 Contingent — MCRTC
• 2026-05-12 Price Changed $165,000 MCRTC
• 2026-04-28 Price Changed $170,000 MCRTC
• 2026-04-15 Price Changed $180,000 MCRTC
• 2026-03-25 Listed $190,000 MCRTC
• 2026-03-20 Listing Removed — MCRTC
• 2026-03-13 Price Changed $204,900 MCRTC
• 2026-03-01 Listed $209,000 MCRTC
• 2026-02-04 Listing Removed — MCRTC
• 2025-11-01 Listing Removed — Beaches MLS
• 2025-09-25 Price Changed $217,900 Beaches MLS
• 2025-09-25 Price Changed $217,900 MCRTC
• 2025-06-04 Price Changed $219,900 Beaches MLS
• 2025-06-03 Price Changed $219,900 MCRTC
• 2025-05-21 Price Changed $225,000 Beaches MLS
• 2025-05-20 Price Changed $225,000 MCRTC
• 2025-04-18 Listed $235,000 Beaches MLS
• 2025-04-03 Listed $235,000 MCRTC
• 2024-12-09 Listing Removed — MCRTC
• 2024-10-30 Listed $245,000 MCRTC
• 2024-10-23 Listing Removed — MCRTC
• 2024-10-04 Listed $250,000 MCRTC
• 2010-12-21 Listing Removed — MCRTC
• 2010-07-19 Listed $122,000 MCRTC
• 2002-02-28 Sold (Public Records) $68,000 Public Records
• 2001-10-03 Sold (Public Records) $57,000 Public Records
• 1998-03-20 Sold (Public Records) $59,000 Public Records
• 1998-03-19 Sold (MLS) $59,000 MCRTC
• 1998-02-23 Listed $64,000 MCRTC
• 1996-08-08 Sold (Public Records) $61,000 Public Records

Property tax history

+0.5%/yr

Latest (2025): $534 · -2.7% YoY. Source: county tax records.