6910 SE Morningside Dr · Port Salerno, FL 34997

$99,999

2 bd · 2.0 ba · 1,400 sqft · Manufactured · 306 Days on market

Built 1981 Good condition $71/sqft · at area comps Est $103k · at est. $1002/mo HOA · 46% of rent ↓ 41% since listing

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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 +15.5/30.0
• 1% rule +10.0/10.0
• ARV discount +8.8/15.0
• DSCR +4.8/10.0
• Schools +4.5/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ENJOY THE VIEW from your lakefront back patio in the beautiful 55+ community of Pinelake Gardens in south Stuart! This home has 2 bedrooms, 2 bathrooms, remodeled kitchen, tongue and groove ceilings throughout! Plenty of extra space as well with a workshop and Florida Room! Come see this one today!

Key facts

• Lakefront back patio
• Remodeled kitchen
• Florida room

Tags

• LAKEFRONT BACK PATIO
• REMODELED KITCHEN
• TONGUE AND GROOVE CEILINGS
• WORKSHOP
• FLORIDA ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $41 ($493/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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; 24 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 34% 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 $691 of loan paydown is wiped out by about $3k 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 306 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $39k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 46% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 306 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. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 2.20% ✓
• Cap rate: 6.79%
• Cash-on-cash: 1.76%
• DSCR: 1.08
• GRM: 3.8

CMA / ARV

• ARV (median comp): $103,000
• List price: $99,999
• Delta: -2.91%
• Verdict: FAIR
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7252 SE Sweetwood Ter	0.18mi	2/2.0	1,372 (-2%)	3mo	$103,000	$75	85
4492 SE Cottonwood Ter	0.16mi	2/2.0	1,456 (+4%)	7mo	$135,000	$93	80
4440 SE Sweetwood Way	0.38mi	2/2.0	1,440 (+3%)	1mo	$117,500	$82	76
4596 SE Basswood Ter	0.09mi	2/2.0	1,561 (+12%)	10mo	$147,000	$94	68
4474 SE Heartwood Trl	0.54mi	2/2.0	1,344 (-4%)	6mo	$79,000	$59	64
7090 SE Carrotwood Ln	0.14mi	3/2.0 (+1)	1,232 (-12%)	7mo	$90,000	$73	63
7044 SE Birchwood Ln	0.36mi	3/2.0 (+1)	1,470 (+5%)	8mo	$139,000	$95	63
4615 SE Basswood Ter	0.06mi	2/2.0	1,200 (-14%)	13mo	$75,000	$63	63
4280 SE Sweetwood Way	0.24mi	3/2.0 (+1)	1,560 (+11%)	5mo	$110,000	$71	61
7117 SE Birchwood Ln	0.17mi	3/2.0 (+1)	1,568 (+12%)	13mo	$116,000	$74	56
4466 Heartwood Trl	0.54mi	2/2.0	1,500 (+7%)	8mo	$95,000	$63	56
4616 SE Circle Way	0.59mi	3/2.0 (+1)	1,286 (-8%)	11mo	$247,500	$192	45

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 · 2.71% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.52×
• Total profit: $-13,575
• Equity at exit: $14,910

10-year hold

• IRR: -4.6%
• Equity multiple: 0.70×
• Total profit: $-8,419
• Equity at exit: $8,646

Cash invested: $28,000 (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: 3.8×

Monthly cashflow live

• Estimated rent: $2,195 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$1,002
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $41

Break-even live

Break-even rent $2,143

Max offer price $99,999

Occupancy floor 93%

Sensitivity live

Price	-10% $110	-5% $76	+0% $41	+5% $7	+10% $-28
Rent	-10% $-132	-5% $-46	+0% $41	+5% $128	+10% $215
Rate	-1.0pp $91	-0.5pp $67	base $41	+0.5pp $15	+1.0pp $-11

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7073 SE Birchwood Ln Stuart, FL	2.0	2.0	1150	$1,750	$1.52	14d	1	0.33mi
4987 SE Mariner Garden Cir Stuart, FL	3.0	2.5	1434	$2,650	$1.85	24d	1	0.34mi
6553 SE Federal Hwy Unit 10-102 Stuart, FL	2.0	2.0	969	$1,750	$1.81	24d	1	0.35mi
6551 SE Federal Hwy #104 Stuart, FL	2.0	2.0	969	$2,000	$2.06	14d	1	0.36mi
6551 SE Federal Hwy Stuart, FL	2.0	2.0	969	$1,825	$1.88	21d	2	0.36mi
6537 SE Federal Hwy #102 Stuart, FL	2.0	2.0	969	$1,845	$1.90	14d	1	0.36mi
5176 SE Mariner Garden Cir Stuart, FL	3.0	2.5	1554	$2,400	$1.54	24d	1	0.38mi
5156 SE Mariner Garden Cir Stuart, FL	3.0	2.5	1434	$2,400	$1.67	24d	1	0.39mi
5064 SE Mariner Garden Cir Stuart, FL	3.0	2.5	1530	$2,400	$1.57	24d	1	0.39mi
6535 SE Federal Hwy Stuart, FL	2.0	2.0	967	$1,750	$1.81	24d	1	0.40mi
6531 SE Federal Hwy Stuart, FL	2.0	2.0	1100	$1,725	$1.57	14d	2	0.42mi
5152 SE Club Way #104 Stuart, FL	2.0	2.0	1358	$7,500	$5.52	14d	1	0.57mi
3882 SE Canvas Back Pl Stuart, FL	3.0	2.0	1575	$2,200	$1.40	24d	1	0.66mi
4421 SE Village Rd Stuart, FL	2.0	2.0	1080	$2,100	$1.94	24d	1	0.69mi
4939 SE Salvatori Rd Stuart, FL	3.0	2.0	1334	$2,500	$1.87	24d	1	0.75mi
5881 SE Windsong Ln Stuart, FL	2.0	2.5	1288	$2,100	$1.63	14d	1	1.01mi
5795 SE Mitzi Ln Stuart, FL	3.0	2.0	1315	$3,000	$2.28	24d	1	1.08mi
5636 SE Foxcross Pl Stuart, FL	2.0	2.0	1598	$9,000	$5.63	14d	1	1.14mi
5359 SE Dell St Stuart, FL	3.0	2.0	1272	$2,800	$2.20	24d	1	1.17mi
7960 SE Peppercorn Ct Hobe Sound, FL	2.0	2.0	1541	$2,950	$1.91	24d	1	1.21mi
6215 SE Georgetown Pl Hobe Sound, FL	2.0	2.0	1202	$2,600	$2.16	24d	1	1.27mi
6024 SE Crooked Oak Ave Hobe Sound, FL	3.0	2.0	1800	$3,200	$1.78	24d	1	1.28mi
8357 SE Double Tree Dr Hobe Sound, FL	2.0	2.0	1510	$2,950	$1.95	14d	1	1.29mi
5688 SE Pine Ave Stuart, FL	3.0	2.0	1255	$2,510	$2.00	14d	1	1.47mi

HOA detail

• Monthly dues: $1,002 · $12,024/yr

Listing history 16 events

1. 2026-05-31
   days on market $99,999 Active 306 DOM
2. 2026-05-31
   days on market $99,999 Active 305 DOM
3. 2026-03-12
   price $99,999 299-char remark

   Show marketing remark (299 chars)

   ENJOY THE VIEW from your lakefront back patio in the beautiful 55+ community of Pinelake Gardens in south Stuart! This home has 2 bedrooms, 2 bathrooms, remodeled kitchen, tongue and groove ceilings throughout! Plenty of extra space as well with a workshop and Florida Room! Come see this one today!

4. 2026-02-12
   price $115,000 299-char remark

   Show marketing remark (299 chars)

   ENJOY THE VIEW from your lakefront back patio in the beautiful 55+ community of Pinelake Gardens in south Stuart! This home has 2 bedrooms, 2 bathrooms, remodeled kitchen, tongue and groove ceilings throughout! Plenty of extra space as well with a workshop and Florida Room! Come see this one today!

5. 2026-01-06
   status Active 299-char remark

   Show marketing remark (299 chars)

   ENJOY THE VIEW from your lakefront back patio in the beautiful 55+ community of Pinelake Gardens in south Stuart! This home has 2 bedrooms, 2 bathrooms, remodeled kitchen, tongue and groove ceilings throughout! Plenty of extra space as well with a workshop and Florida Room! Come see this one today!

6. 2026-01-01
   historical 299-char remark

   Show marketing remark (299 chars)

   ENJOY THE VIEW from your lakefront back patio in the beautiful 55+ community of Pinelake Gardens in south Stuart! This home has 2 bedrooms, 2 bathrooms, remodeled kitchen, tongue and groove ceilings throughout! Plenty of extra space as well with a workshop and Florida Room! Come see this one today!

7. 2025-10-18
   price $129,000 299-char remark

   Show marketing remark (299 chars)

   ENJOY THE VIEW from your lakefront back patio in the beautiful 55+ community of Pinelake Gardens in south Stuart! This home has 2 bedrooms, 2 bathrooms, remodeled kitchen, tongue and groove ceilings throughout! Plenty of extra space as well with a workshop and Florida Room! Come see this one today!

8. 2025-07-24
   listed $139,000 Active 299-char remark

   Show marketing remark (299 chars)

   ENJOY THE VIEW from your lakefront back patio in the beautiful 55+ community of Pinelake Gardens in south Stuart! This home has 2 bedrooms, 2 bathrooms, remodeled kitchen, tongue and groove ceilings throughout! Plenty of extra space as well with a workshop and Florida Room! Come see this one today!

9. 2025-06-24
   historical
10. 2025-04-10
    price $139,900
11. 2025-03-21
    price $149,900
12. 2025-02-25
    status Active
13. 2025-02-24
    historical
14. 2025-02-20
    price $159,900
15. 2025-01-30
    price $164,900
16. 2024-08-23
    listed $169,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 23 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: $26,342
• − Mortgage interest: −$5,601
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$2,107
• − Management: −$2,107
• − HOA: −$12,024
• − Depreciation: −$2,909
• Taxable loss: −$407
• Est. tax savings @ 24.0%: +$98
• After-tax cash flow: $591/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained manufactured home in Pinelake Gardens offers a serene lakefront view and is ready for a new owner to move in and enjoy the community.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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

-41.1% since first listed

14 events — show timeline

• 2026-03-12 Price Changed $99,999 Beaches MLS
• 2026-02-12 Price Changed $115,000 Beaches MLS
• 2026-01-06 Relisted — Beaches MLS
• 2026-01-01 Listing Removed — Beaches MLS
• 2025-10-18 Price Changed $129,000 Beaches MLS
• 2025-07-24 Listed $139,000 Beaches MLS
• 2025-06-24 Listing Removed — Beaches MLS
• 2025-04-10 Price Changed $139,900 Beaches MLS
• 2025-03-21 Price Changed $149,900 Beaches MLS
• 2025-02-25 Relisted — Beaches MLS
• 2025-02-24 Listing Removed — Beaches MLS
• 2025-02-20 Price Changed $159,900 Beaches MLS
• 2025-01-30 Price Changed $164,900 Beaches MLS
• 2024-08-23 Listed $169,900 Beaches MLS