9500 S Ocean Dr #208 · Hutchinson Island South, FL 34957

$349,000

2 bd · 2.0 ba · 1,224 sqft · Condo public records · 278 Days on market

Built 1982 $943/mo HOA · 24% 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 +11.7/30.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Schools +3.7/10.0
• DSCR +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful 2-Bed/2-Bath Condo in Islandia II – Oceanfront Living at Its Finest! Located on the 2nd floor of the highly sought-after Islandia II, this spacious 2-bedroom, 2-bathroom condo features a fully opened kitchen with stainless steel appliances and is tiled throughout. Enjoy stunning views overlooking the Atlantic Ocean and the resort-style pools from your private balcony. Islandia II is a gated community with a wealth of amenities, including: • 2 Swimming Pools & Hot Tub • Fitness Center, Sauna & Billiard Room • Entertainment Room & Extra Storage Lockers • Tennis, Pickleball & Bocce Ball Courts • Boat Trailer Parking &

Key facts

• Gated community
• Fitness center
• Swimming pools

Tags

• PRIVATE BALCONY
• GATED COMMUNITY
• SWIMMING POOLS
• FITNESS CENTER
• ENTERTAINMENT ROOM
• TENNIS COURTS

Property features AI

Finance

• Financial info: Pets allowed (number and size limits may apply)
• HOA & community: Homeowners association (fee applies); Monthly association fee ($943); Association fee covers management, common areas, cable TV, insurance, internet, grounds maintenance, structure maintenance, parking, pest control, pool(s), recreation facilities, reserve fund, sewer, security, trash and water; Building amenities include elevator(s); Community amenities: barbecue, beach access, billiard room, bocce court, bicycle storage, clubhouse, fitness center, game room, kitchen facilities, park, pickleball, on-site property manager, pool, sauna, storage facilities, street lights, tennis courts, trails/paths, trash chute, gated community

Exterior

• Parking: Boat parking; Common parking; Free parking; Guest parking; Handicap parking; Open parking; RV access/parking; Truck parking; See remarks for additional parking details
• Security: Closed-circuit cameras; Fenced community; Gated with guard; Lobby secured; Phone entry; Security guard; Security lights; Fire sprinkler system; Smoke detectors
• Utilities: Cable available; Electricity available; Phone available; Water connected (public); Public sewer; Trash collection; Underground utilities
• Home design: Condominium in a 20-story building; Resale unit; Faces east; Private paved road frontage
• Construction: Block, concrete and stucco construction
• Exterior features: Balcony (covered and open); Fence; Sprinkler/irrigation (automatic); Outdoor shower; Tennis courts; Storm/security shutters; Community pool; Community spa; Ocean access / Ocean front / Beach access; Has view (east)

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: Bedrooms are on split floor plan
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Living/dining room; Split bedrooms; Tub with shower; Walk-in closet(s); Sliding windows; Shutters; Unfurnished
• Laundry & utility: Washer; Dryer; Water heater; Some electric appliances

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $349k.

Deal economics

• At list price, monthly cash flow is $-101 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $331k (5.1% below list).
• Meets the 1% rule at list price ($4k rent vs $349k).
• Recommended offer: $307k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.9% vs local median 2.0% in Hutchinson Island South — 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 61/100 on livability (#783 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing B; Watch: cost of living C-, amenities F, commute F.
• St. Lucie (urban): math 40% / reading 48% proficiency, ranked #51 of 73 in FL (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Manatee Academy K-8 (math 53% / reading 51%, grade C-, #990 of 2,144 statewide, top 48%, 1,664 students, 65% FRL); Southern Oaks Middle School (math 39% / reading 43%, grade F, #353 of 571 statewide, top 63%, 894 students, 76% FRL); Fort Pierce Central High School (math 15% / reading 45%, grade F, #441 of 667 statewide, top 67%, 3,091 students, 62% FRL).
• Market conditions: Rents rising (+1.0%/yr); 538 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• At $3,938/mo this rent would consume 67% of the median local household income ($70k/yr) (locally 946% 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 $10k of value loss. Plan a longer hold.
• St. Lucie County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 278 days — a 12% lower offer ($307k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 29y ago; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.

Recommended offer $307,120 (12.0% 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 278 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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 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: 1.13% ✓
• Cap rate: 5.94%
• Cash-on-cash: -1.24%
• DSCR: 0.94
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.0% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.28×
• Total profit: $-70,221
• Equity at exit: $52,037

10-year hold

• IRR: -22.1%
• Equity multiple: -0.00×
• Total profit: $-97,842
• Equity at exit: $30,175

Cash invested: $97,720 (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 34957

• Rents YoY: 1.0%
• Active inventory: 538
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $3,938 high
• Mortgage (P&I): −$1,830
• Tax from tax record: −$294 /mo · $3,527/yr
• Insurance: −$145
• HOA: −$943
• Vacancy / Maint / Mgmt: −$827
• Net cashflow: $-101

Break-even live

Break-even rent $4,067

Max offer price $331,113

Occupancy floor 98%

Sensitivity live

Price	-10% $96	-5% $-2	+0% $-101	+5% $-200	+10% $-299
Rent	-10% $-412	-5% $-257	+0% $-101	+5% $54	+10% $210
Rate	-1.0pp $75	-0.5pp $-12	base $-101	+0.5pp $-192	+1.0pp $-284

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9500 S Ocean Dr Unit 9500PH10 Jensen Beach, FL	2.0	2.0	1437	$6,500	$4.52	25d	1	0.01mi
9500 S Ocean Dr #809 Jensen Beach, FL	2.0	2.0	1228	$5,500	$4.48	25d	1	0.01mi
9500 S Ocean Dr #201 Jensen Beach, FL	2.0	2.0	1437	$5,400	$3.76	25d	1	0.01mi
9500 S Ocean Dr #9 Jensen Beach, FL	2.0	2.0	1228	$4,950	$4.03	25d	1	0.01mi
9500 S Ocean Dr #1308 Jensen Beach, FL	2.0	2.0	1224	$3,100	$2.53	25d	1	0.01mi
9500 S Ocean Dr #10 Jensen Beach, FL	2.0	2.0	1437	$4,000	$2.78	25d	1	0.01mi
9500 S Ocean Dr #1307 Jensen Beach, FL	2.0	2.0	1228	$3,000	$2.44	15d	1	0.01mi
9500 S Ocean Dr #1310 Jensen Beach, FL	2.0	2.0	1437	$6,000	$4.18	25d	1	0.01mi
9550 S Ocean Dr #4 Jensen Beach, FL	2.0	2.0	1228	$6,500	$5.29	15d	1	0.06mi
9550 S Ocean Dr #4 Jensen Beach, FL	2.0	2.0	1228	$6,500	$5.29	25d	1	0.06mi
9490 S Ocean Dr Unit 615A Jensen Beach, FL	2.0	2.0	1100	$2,900	$2.64	25d	1	0.08mi
9490 S Ocean Dr Unit 912-A Jensen Beach, FL	2.0	2.0	1053	$3,200	$3.04	25d	1	0.08mi
9490 S Ocean Dr #611 Jensen Beach, FL	2.0	2.0	1053	$2,750	$2.61	15d	1	0.08mi
9490 S Ocean Dr #213 Jensen Beach, FL	2.0	2.0	1053	$2,600	$2.47	25d	1	0.08mi
9490 S Ocean Dr Unit 113 A Jensen Beach, FL	2.0	2.0	1053	$4,200	$3.99	25d	1	0.10mi
9400 S Ocean Dr Unit 1003B Jensen Beach, FL	2.0	2.0	1053	$2,700	$2.56	25d	1	0.13mi
9600 S Ocean Dr Jensen Beach, FL	2.0–4.0	2.0–3.5	2051	$2,500	$1.22	25d	3	0.16mi
9400 S Ocean Dr #307 Jensen Beach, FL	2.0	2.0	1053	$2,500	$2.37	25d	1	0.16mi
9400 S Ocean Dr #707 Jensen Beach, FL	2.0	2.0	1053	$3,000	$2.85	25d	1	0.16mi
9400 S Ocean Dr #202 Jensen Beach, FL	2.0	2.0	1053	$5,600	$5.32	25d	1	0.16mi
9400 S Ocean Dr Unit 604B Jensen Beach, FL	2.0	2.0	1053	$5,400	$5.13	25d	1	0.17mi
9400 S Ocean Dr Unit 504B Jensen Beach, FL	2.0	2.0	1053	$2,400	$2.28	25d	1	0.17mi
9400 S Ocean Dr Unit 706B Jensen Beach, FL	2.0	2.0	1053	$3,500	$3.32	25d	1	0.17mi
9400 S Ocean Dr Unit 608B Jensen Beach, FL	2.0	2.0	1112	$6,500	$5.85	25d	1	0.17mi
9425 S Ocean Dr #67 Jensen Beach, FL	2.0	1.5	1270	$2,400	$1.89	23d	1	0.20mi
9403 S Ocean Dr Unit 3D Jensen Beach, FL	2.0	2.0	1328	$1,800	$1.36	25d	1	0.22mi
9900 S Ocean Dr Jensen Beach, FL	1.0–2.0	2.0	1009	$3,500	$3.47	25d	5	0.45mi
9940 S Ocean Dr Jensen Beach, FL	1.0–2.0	1.5–2.0	1009	$3,500	$3.47	15d	5	0.55mi
8880 S Ocean Dr #1102 Jensen Beach, FL	1.0	2.0	1011	$5,200	$5.14	25d	1	0.63mi
9950 S Ocean Dr #4 Jensen Beach, FL	2.0	2.0	1411	$3,500	$2.48	25d	1	0.64mi
9960 S Ocean Dr #502 Jensen Beach, FL	2.0	2.0	1434	$3,000	$2.09	25d	1	0.70mi
8800 S Ocean Dr #102 Jensen Beach, FL	2.0	2.0	1228	$3,200	$2.61	25d	1	0.74mi
8800 S Ocean Dr #806 Jensen Beach, FL	3.0	2.0	1485	$6,000	$4.04	25d	1	0.74mi
10000 S Ocean Dr #206 Jensen Beach, FL	2.0	2.0	1264	$5,100	$4.03	25d	1	0.77mi
13 Nettles Blvd Jensen Beach, FL	2.0	2.0	730	$4,400	$6.03	25d	1	0.84mi
10044 S Ocean Dr Jensen Beach, FL	2.0–3.0	2.0	1305	$2,500	$1.91	15d	7	0.85mi
10044 S Ocean Dr Jensen Beach, FL	2.0–3.0	2.0	1305	$2,500	$1.91	25d	6	0.85mi
8750 S Ocean Dr #1134 Jensen Beach, FL	2.0	2.0	1377	$6,000	$4.36	23d	1	0.86mi
1077 Nettles Blvd Jensen Beach, FL	2.0	2.0	854	$3,500	$4.10	15d	1	0.90mi
1161 Nettles Blvd Unit 1546132P Jensen Beach, FL	2.0	2.0	710	$4,838	$6.81	15d	1	0.92mi

HOA detail condo

• Monthly dues: $943 · $11,316/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 41 events

1. 2026-06-21
   days on market $349,000 Active 278 DOM
2. 2026-06-18
   days on market $349,000 Active 275 DOM
3. 2026-06-17
   days on market $349,000 Active 274 DOM
4. 2026-06-16
   days on market $349,000 Active 273 DOM
5. 2026-06-15
   days on market $349,000 Active 272 DOM
6. 2026-06-14
   days on market $349,000 Active 270 DOM
7. 2026-06-13
   days on market $349,000 Active 269 DOM
8. 2026-06-10
   days on market $349,000 Active 267 DOM
9. 2026-06-09
   days on market $349,000 Active 266 DOM
10. 2026-06-08
    days on market $349,000 Active 265 DOM
11. 2026-06-07
    days on market $349,000 Active 264 DOM
12. 2026-06-05
    days on market $349,000 Active 261 DOM
13. 2026-06-03
    days on market $349,000 Active 260 DOM
14. 2026-06-02
    days on market $349,000 Active 259 DOM
15. 2026-06-01
    days on market $349,000 Active 258 DOM
16. 2026-05-31
    days on market $349,000 Active 257 DOM
17. 2026-05-30
    days on market $349,000 Active 256 DOM
18. 2026-04-24
    price $349,000
19. 2025-09-16
    listed $369,000 Active
20. 2025-08-01
    historical
21. 2025-05-10
    listed $419,500 Active
22. 2025-04-30
    historical
23. 2024-09-30
    listed $425,000 Active
24. 2024-07-01
    historical
25. 2024-07-01
    historical
26. 2024-06-11
    listed $425,000 Active
27. 2024-06-09
    historical $2,400
28. 2024-06-03
    price $425,000
29. 2024-05-08
    listed $2,400
30. 2024-02-01
    price $439,900
31. 2023-10-19
    price $449,900
32. 2023-08-25
    listed $459,900 Active
33. 2022-06-15
    soldstatus $403,000 Closed
34. 2022-05-19
    status Pending
35. 2022-04-07
    status Active
36. 2022-03-18
    historical Active Under Contract
37. 2021-12-29
    price $427,000
38. 2021-12-12
    listed $449,000 Active
39. 1998-04-03
    soldstatus $105,000
40. 1998-03-31
    soldstatus $105,000
41. 1997-11-12
    listed $119,500

ⓘ 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: $3,527 · $294/mo
• Projected year-2 tax: $3,527 · $294/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

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

Taxation est. · year 1

• Rental income: $47,260
• − Mortgage interest: −$19,549
• − Property taxes: −$3,527
• − Insurance: −$1,745
• − Repairs & maintenance: −$3,781
• − Management: −$3,781
• − HOA: −$11,316
• − Depreciation: −$10,153
• Taxable loss: −$6,592
• Est. tax savings @ 24.0%: +$1,582
• After-tax cash flow: $367/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: St. Lucie
• NCES district ID: 1201770
• Math proficiency: 40% ▼ -11.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $44,737
• Composite: 37.28/100
• National rank: #4449
• State rank: #51 of 73 in FL

Livability — Hutchinson Island South

• Score: 61/100
• State rank: #783
• US rank: #17768

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hutchinson Island South, FL
• County: Martin County · 165,223 people
• Metro: Port St. Lucie, FL
• Population (ZIP): 23,462
• Household income: $70,403
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 946.0

Population outlook (St. Lucie County) Hauer SSP2

• Today (2025): 338,016 people
• By 2030: 355,687 · +5.2%
• By 2040: 385,521 · +14.1%
• By 2050: 406,106 · +20.1%
• By 2075: 441,054 · +30.5%
• By 2100: 436,885 · +29.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 6% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 2% Tagalog/Filipino 1%

Political lean MEDSL · St. Lucie

• 2024 margin: Lean R (+9.1) · D 45.1% · R 54.2%
• 2008→2024 swing: -21.2pp toward R · 2008: 12.1pp · 2024: -9.1pp
• All cycles: 2024: R+9.1 2020: R+1.6 2016: R+2.5 2012: D+7.9 2008: D+12.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -319.66%
• Current HPI: 340.0172
• Rent YoY: ▲ 1.00%
• 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

+192.1% since first listed

24 events — show timeline

• 2026-04-24 Price Changed $349,000 MCRTC
• 2025-09-16 Listed $369,000 MCRTC
• 2025-08-01 Listing Removed — MCRTC
• 2025-05-10 Listed $419,500 MCRTC
• 2025-04-30 Listing Removed — MCRTC
• 2024-09-30 Listed $425,000 MCRTC
• 2024-07-01 Listing Removed — MCRTC
• 2024-07-01 Listing Removed — Beaches MLS
• 2024-06-11 Listed $425,000 Beaches MLS
• 2024-06-09 Rental Removed $2,400 TURBOTENANT
• 2024-06-03 Price Changed $425,000 MCRTC
• 2024-05-08 Listed for Rent $2,400 TURBOTENANT
• 2024-02-01 Price Changed $439,900 MCRTC
• 2023-10-19 Price Changed $449,900 MCRTC
• 2023-08-25 Listed $459,900 MCRTC
• 2022-06-15 Sold (MLS) $403,000 MARMLS
• 2022-05-19 Pending — MARMLS
• 2022-04-07 Relisted — MARMLS
• 2022-03-18 Contingent — MARMLS
• 2021-12-29 Price Changed $427,000 MARMLS
• 2021-12-12 Listed $449,000 MARMLS
• 1998-04-03 Sold (Public Records) $105,000 Public Records
• 1998-03-31 Sold (MLS) $105,000 MCRTC
• 1997-11-12 Listed $119,500 MCRTC

Property tax history

+0.7%/yr

Latest (2025): $3,527 · +3.5% YoY. Source: county tax records.