6927 SE Delegate St · Hobe Sound, FL 33455

$270,000

3 bd · 2.0 ba · 1,335 sqft · Manufactured public records · 121 Days on market

Built 2005 5,000 sqft lot $202/sqft · 33% above area Est $203k · 33% over $125/mo HOA · 5% of rent

---

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).

• Cash flow +16.7/30.0
• DSCR +5.2/10.0
• 1% rule +5.1/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOW!!! This is Gorgeous!!! Beautifully updated 2005 home. You OWN the land! 55+ community of Cambridge in Hobe Sound! This light & bright 2+den or 3-bedroom/ 2-bathroom home features Vaulted Ceilings, Hurricane Impact Windows/Doors, a stunningly remodeled Kitchen w/white & navy shaker cabinets, quartz countertops, & black stainless appliances. Bathrooms are remodeled. Large Bedrooms, Full Size Stacked Washer & Dryer, Newer Metal roof (2017), new HVAC (2025), screened porch, fenced yard, storage, sprinkler system, raised Garden Bed. Offered furnished. Located in Section 1, where you can keep your boat/RV in the driveway. Pet Friendly. Low HOA and move-in ready! This will go fast! Great Location close to Hobe Sound Beach w/easy access to I-95, Great Restaurants & Shopping. Golf Nearby

Key facts

• Fenced yard
• Remodeled kitchen
• Screened porch

Tags

• HURRICANE IMPACT WINDOWS
• REMODELED KITCHEN
• SCREENED PORCH
• FENCED YARD
• RAISED GARDEN BED
• PET FRIENDLY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $270k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).
• Recommended offer: $238k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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; 19 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).
• At $2,714/mo this rent would consume 46% 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 $2k of loan paydown is wiped out by about $8k 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 121 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $237,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.01% ✓
• Cap rate: 7.04%
• Cash-on-cash: 2.67%
• DSCR: 1.12
• GRM: 8.3

CMA / ARV

• ARV (median comp): $203,223
• List price: $270,000
• Delta: 32.86%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8031 SE Homestead Ave	0.19mi	2/2.0 (-1)	1,322 (-1%)	1mo	$169,000	$128	84
7955 SE Independence Ave	0.22mi	2/2.0 (-1)	1,279 (-4%)	1mo	$234,500	$183	77
7338 SE Redbird Cir	0.32mi	3/2.0	1,224 (-8%)	1mo	$202,000	$165	70
7107 SE Seahawk St	0.31mi	2/2.0 (-1)	1,236 (-7%)	1mo	$215,000	$174	67
8508 SE Swan Ave	0.41mi	2/2.0 (-1)	1,248 (-6%)	0mo	$195,000	$156	65
7148 SE Seahawk St	0.35mi	3/2.0	1,180 (-12%)	2mo	$205,000	$174	63
7874 SE Saratoga Dr	0.32mi	2/2.0 (-1)	1,485 (+11%)	1mo	$225,000	$152	60
7924 SE Saratoga Dr	0.28mi	2/2.0 (-1)	1,513 (+13%)	2mo	$285,000	$188	58
7843 SE Saratoga Dr	0.35mi	2/2.0 (-1)	1,505 (+13%)	1mo	$230,000	$153	57
7829 SE Eagle Ave	0.35mi	2/2.0 (-1)	1,152 (-14%)	2mo	$207,000	$180	54
7660 SE Shenandoah Dr SE	0.53mi	2/2.0 (-1)	1,475 (+10%)	2mo	$236,000	$160	51
7630 SE Shenandoah Dr	0.56mi	3/2.0	1,531 (+15%)	1mo	$185,000	$121	49

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: -13.5%
• Equity multiple: 0.52×
• Total profit: $-36,179
• Equity at exit: $40,258

10-year hold

• IRR: -6.6%
• Equity multiple: 0.60×
• Total profit: $-30,254
• Equity at exit: $23,345

Cash invested: $75,600 (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: 8.3×

Monthly cashflow live

• Estimated rent: $2,714 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$323 /mo · $3,874/yr
• Insurance: −$112
• HOA: −$125
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $168

Break-even live

Break-even rent $2,502

Max offer price $270,000

Occupancy floor 89%

Sensitivity live

Price	-10% $321	-5% $244	+0% $168	+5% $92	+10% $15
Rent	-10% $-46	-5% $61	+0% $168	+5% $275	+10% $382
Rate	-1.0pp $304	-0.5pp $237	base $168	+0.5pp $98	+1.0pp $27

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7030 SE Ridgeway Ter Hobe Sound, FL	3.0	2.0	1296	$2,500	$1.93	24d	1	0.22mi
7894 SE Saratoga Dr Hobe Sound, FL	2.0	2.0	1248	$2,100	$1.68	24d	1	0.33mi
8002 SE Skylark Ave Hobe Sound, FL	3.0	2.0	990	$2,000	$2.02	24d	1	0.37mi
7568 SE Swan Ave Hobe Sound, FL	2.0	2.0	1052	$2,300	$2.19	24d	1	0.56mi
7607 SE Hobe Ter Hobe Sound, FL	2.0	2.0	1156	$2,200	$1.90	14d	1	0.64mi
7462 SE Jamestown Ter Hobe Sound, FL	2.0	2.0	1384	$2,500	$1.81	24d	1	0.66mi
8350 SE Sweetbay Dr Hobe Sound, FL	2.0	2.0	1606	$3,500	$2.18	24d	1	0.69mi
7442 SE Jamestown Ter Hobe Sound, FL	2.0	2.0	1384	$1,800	$1.30	24d	1	0.71mi
7445 SE Independence Ave Hobe Sound, FL	2.0	2.0	1198	$1,900	$1.59	24d	1	0.75mi
8905 SE Sandy Ln Hobe Sound, FL	2.0	2.0	1006	$1,850	$1.84	24d	1	0.82mi
8997 SE Sandy Ln Hobe Sound, FL	2.0	1.0	900	$2,000	$2.22	24d	1	0.89mi
6024 SE Crooked Oak Ave Hobe Sound, FL	3.0	2.0	1800	$3,200	$1.78	24d	1	0.93mi
9073 SE Hobe Ridge Ave Hobe Sound, FL	2.0	2.0	1029	$2,100	$2.04	14d	1	0.97mi
6215 SE Georgetown Pl Hobe Sound, FL	2.0	2.0	1202	$2,600	$2.16	24d	1	1.09mi
6845 SE Bunker Hill Dr Hobe Sound, FL	2.0	2.0	1552	$3,500	$2.26	14d	1	1.13mi
8014 SE Carlton St Hobe Sound, FL	3.0	2.0	1463	$3,500	$2.39	24d	1	1.17mi
9650 SE Eagle Ave Hobe Sound, FL	2.0	2.0–2.5	1241	$2,330	$1.88	24d	5	1.37mi
8455 SE Palm St Hobe Sound, FL	2.0	2.0	1423	$4,700	$3.30	14d	1	1.42mi
9627 Crest Ct Hobe Sound, FL	2.0	2.0	1400	$2,500	$1.79	14d	1	1.48mi

HOA detail

• Monthly dues: $125 · $1,500/yr

Listing history 27 events

1. 2026-06-18
   days on market $270,000 Active 121 DOM
2. 2026-06-17
   days on market $270,000 Active 120 DOM
3. 2026-06-16
   days on market $270,000 Active 119 DOM
4. 2026-06-15
   days on market $270,000 Active 118 DOM
5. 2026-06-14
   days on market $270,000 Active 116 DOM
6. 2026-06-13
   days on market $270,000 Active 115 DOM
7. 2026-06-10
   days on market $270,000 Active 113 DOM
8. 2026-06-09
   days on market $270,000 Active 112 DOM
9. 2026-06-09
   price $270,000 Active 111 DOM
10. 2026-06-08
    days on market $275,000 Active 111 DOM
11. 2026-06-07
    days on market $275,000 Active 110 DOM
12. 2026-06-03
    days on market $275,000 Active 106 DOM
13. 2026-06-02
    days on market $275,000 Active 105 DOM
14. 2026-06-01
    days on market $275,000 Active 104 DOM
15. 2026-05-31
    days on market $275,000 Active 103 DOM
16. 2026-05-31
    days on market $275,000 Active 102 DOM
17. 2026-02-17
    listed $275,000 Active 818-char remark

    Show marketing remark (818 chars)

    WOW!!! This is Gorgeous!!! Beautifully updated 2005 home. You OWN the land! 55+ community of Cambridge in Hobe Sound! This light & bright 2+den or 3-bedroom/ 2-bathroom home features Vaulted Ceilings, Hurricane Impact Windows/Doors, a stunningly remodeled Kitchen w/white & navy shaker cabinets, quartz countertops, & black stainless appliances. Bathrooms are remodeled. Large Bedrooms, Full Size Stacked Washer & Dryer, Newer Metal roof (2017), new HVAC (2025), screened porch, fenced yard, storage, sprinkler system, raised Garden Bed. Offered furnished. Located in Section 1, where you can keep your boat/RV in the driveway. Pet Friendly. Low HOA and move-in ready! This will go fast! Great Location close to Hobe Sound Beach w/easy access to I-95, Great Restaurants & Shopping. Golf Nearby

18. 2024-10-24
    soldstatus $240,000
19. 2024-10-21
    soldstatus $240,000 Closed 743-char remark

    Show marketing remark (743 chars)

    * * * SELLER ADDED BRING ALL OFFERS * * * Welcome to this 2005 2 bedroom (with a den) 2 bath manufactured home with impact windows. NEW ROOF 2017 (the den is actually a 3rd bedroom, no closet). YOU OWN THE LAND. This isn't your Grandma's manufactured home. As you step into the spacious light filled living room and open floor plan, you realize the kitchen has plenty of food prep space and storage. Updated paint choices, newer floors and a screened side porch offer a maintenance free existence. The private, fenced backyard beckons you to enjoy the great Florida outdoors, (room for a hot tub). This pet friendly 55+ community with LOW HOA fees is just what you've been looking for. This home comes complete with furniture, as shown.

20. 2024-09-30
    status Pending 743-char remark

    Show marketing remark (743 chars)

    * * * SELLER ADDED BRING ALL OFFERS * * * Welcome to this 2005 2 bedroom (with a den) 2 bath manufactured home with impact windows. NEW ROOF 2017 (the den is actually a 3rd bedroom, no closet). YOU OWN THE LAND. This isn't your Grandma's manufactured home. As you step into the spacious light filled living room and open floor plan, you realize the kitchen has plenty of food prep space and storage. Updated paint choices, newer floors and a screened side porch offer a maintenance free existence. The private, fenced backyard beckons you to enjoy the great Florida outdoors, (room for a hot tub). This pet friendly 55+ community with LOW HOA fees is just what you've been looking for. This home comes complete with furniture, as shown.

21. 2024-09-26
    price $259,000 743-char remark

    Show marketing remark (743 chars)

    * * * SELLER ADDED BRING ALL OFFERS * * * Welcome to this 2005 2 bedroom (with a den) 2 bath manufactured home with impact windows. NEW ROOF 2017 (the den is actually a 3rd bedroom, no closet). YOU OWN THE LAND. This isn't your Grandma's manufactured home. As you step into the spacious light filled living room and open floor plan, you realize the kitchen has plenty of food prep space and storage. Updated paint choices, newer floors and a screened side porch offer a maintenance free existence. The private, fenced backyard beckons you to enjoy the great Florida outdoors, (room for a hot tub). This pet friendly 55+ community with LOW HOA fees is just what you've been looking for. This home comes complete with furniture, as shown.

22. 2024-07-30
    listed $269,000 Active 743-char remark

    Show marketing remark (743 chars)

    * * * SELLER ADDED BRING ALL OFFERS * * * Welcome to this 2005 2 bedroom (with a den) 2 bath manufactured home with impact windows. NEW ROOF 2017 (the den is actually a 3rd bedroom, no closet). YOU OWN THE LAND. This isn't your Grandma's manufactured home. As you step into the spacious light filled living room and open floor plan, you realize the kitchen has plenty of food prep space and storage. Updated paint choices, newer floors and a screened side porch offer a maintenance free existence. The private, fenced backyard beckons you to enjoy the great Florida outdoors, (room for a hot tub). This pet friendly 55+ community with LOW HOA fees is just what you've been looking for. This home comes complete with furniture, as shown.

23. 2009-05-18
    soldstatus $86,500
24. 2009-05-13
    price $89,000
25. 2009-05-13
    soldstatus $86,500
26. 2008-11-22
    listed $86,500
27. 1987-09-04
    soldstatus $21,900

ⓘ 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: $3,874 · $323/mo
• Projected year-2 tax: $3,874 · $323/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 24 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: $32,571
• − Mortgage interest: −$15,124
• − Property taxes: −$3,874
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,606
• − Management: −$2,606
• − HOA: −$1,500
• − Depreciation: −$7,855
• Taxable loss: −$2,343
• Est. tax savings @ 24.0%: +$562
• After-tax cash flow: $2,579/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

+1155.7% since first listed

11 events — show timeline

• 2026-02-17 Listed $275,000 Beaches MLS
• 2024-10-24 Sold (Public Records) $240,000 Public Records
• 2024-10-21 Sold (MLS) $240,000 Beaches MLS
• 2024-09-30 Pending — Beaches MLS
• 2024-09-26 Price Changed $259,000 Beaches MLS
• 2024-07-30 Listed $269,000 Beaches MLS
• 2009-05-18 Sold (Public Records) $86,500 Public Records
• 2009-05-13 Sold (MLS) $86,500 MCRTC
• 2009-05-13 Price Changed $89,000 MCRTC
• 2008-11-22 Listed $86,500 MCRTC
• 1987-09-04 Sold (Public Records) $21,900 Public Records

Property tax history

+14.7%/yr

Latest (2025): $3,874 · +238.6% YoY. Source: county tax records.