1225 NW 21st St #3015 · North River Shores, FL 34994

$117,600

2 bd · 2.0 ba · 1,014 sqft · Condo · 13 Days on market

Built 1979 Good condition $528/mo HOA · 26% of rent

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Why this score? — see what drove the B- 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 +25.5/30.0
• 1% rule +10.0/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Vista Del Lago, a vibrant community in the heart of Stuart, Florida. A light and bright, furnished 2-bedroom, 2-bathroom second-floor condo is a coastal gem, offering easy-care vinyl and laminate flooring throughout. The kitchen features white cabinetry and a stylish coastal backsplash and a pass through for the dining area. An enclosed balcony accessible from both bedrooms, is perfect for enjoying the peaceful surroundings. Recent updates include five impact-resistant windows, installed in 2023. Residents enjoy access to a range of amenities, including a clubhouse with a heated swimming pool, billiards room, bocce ball, shuffleboard, a library, and an on-site manager. Adjacent t

Key facts

• Enclosed balcony
• Public golf course
• Billiards room

Tags

• ENCLOSED BALCONY
• IMPACT-RESISTANT WINDOWS
• HEATED SWIMMING POOL
• BILLIARDS ROOM
• LIBRARY
• PUBLIC GOLF COURSE

Property features AI

Finance

• HOA & community: Has homeowners association; HOA fee includes management, insurance, laundry, grounds and structure maintenance, parking, pools, reserve fund, road maintenance, taxes, trash, and water; Community amenities include clubhouse, fitness center, pool, billiard room, library, bocce court, shuffleboard, barbecue, sidewalks, and laundry facilities; Senior community

Exterior

• Parking: Assigned parking
• Utilities: Cable available; Public water (connected); Public sewer (connected)
• Home design: Single-story; Resale property
• Construction: Block and concrete construction
• Exterior features: Community pool; Workshop (on property)

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Impact glass windows; Living/Dining room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $118k. Condition is rated good.

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 $118k).
• Cap rate 9.1% vs local median 5.7% in North River Shores — 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 74/100 on livability (#292 in FL, #4,906 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; 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 soft (-0.7%/yr); 256 active listings in the ZIP; 39 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 39% 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 $813 of loan paydown is wiped out by about $4k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 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.
• Current owner paid $70k; list at $118k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• 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 $117,600

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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 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: 1.74% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.98%
• DSCR: 1.44
• GRM: 4.8

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: -6.2%
• Equity multiple: 0.78×
• Total profit: $-7,253
• Equity at exit: $17,535

10-year hold

• IRR: -3.2%
• Equity multiple: 0.83×
• Total profit: $-5,565
• Equity at exit: $10,168

Cash invested: $32,928 (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: 4.8×

Monthly cashflow live

• Estimated rent: $2,044 high
• Mortgage (P&I): −$617
• Tax est. 1.5%: −$147 /mo · $1,764/yr
• Insurance: −$49
• HOA: −$528
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $274

Break-even live

Break-even rent $1,697

Max offer price $117,600

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: $29,400
• Closing costs: $3,528
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1225 NW 21st St Unit 8-815 Stuart, FL	2.0	2.0	1014	$1,950	$1.92	23d	1	0.10mi
1225 NW 21st St Unit 7-705 Stuart, FL	1.0	1.5	747	$1,550	$2.07	14d	1	0.10mi
1225 NW 21st St Unit 35-3512 Stuart, FL	1.0	1.5	747	$1,395	$1.87	23d	1	0.10mi
1225 NW 21st St Unit 36-3609 Stuart, FL	2.0	2.0	1014	$1,700	$1.68	21d	1	0.10mi
1225 NW 21st St Stuart, FL	1.0	1.5	773	$1,500	$1.94	21d	3	0.10mi
1225 NW 21st St Stuart, FL	1.0	1.5	773	$1,350	$1.75	14d	1	0.10mi
2201 NW Federal Hwy Stuart, FL	1.0–3.0	1.0–2.0	1080	$2,530	$2.34	14d	18	0.19mi
1900 NW Federal Hwy Stuart, FL	1.0–2.0	1.0–2.0	1013	$3,973	$3.92	14d	21	0.26mi
1010 NW Fresco Way Jensen Beach, FL	1.0–3.0	1.0–2.0	1011	$2,122	$2.10	14d	10	0.53mi
2233 NW 22nd Ave #102 Stuart, FL	2.0	2.0	1030	$2,200	$2.14	21d	1	0.81mi
2273 NW 22nd Ave #104 Stuart, FL	3.0	3.0	1388	$3,600	$2.59	23d	1	0.82mi
2283 NW 22nd Ave #104 Stuart, FL	2.0	2.0	1074	$2,100	$1.96	23d	1	0.83mi
974 NW Spruce Ridge Dr Stuart, FL	2.0	2.0	1037	$2,100	$2.03	23d	1	0.86mi
964 NW Spruce Ridge Dr Unit D1 Stuart, FL	2.0	2.0	1056	$2,200	$2.08	23d	1	0.91mi
1655 NW Fork Rd Stuart, FL	2.0	2.0	1390	$3,600	$2.59	23d	1	1.01mi
25 NE 17th St Stuart, FL	3.0	2.0	990	$2,000	$2.02	23d	1	1.07mi
800 NW Fork Rd Stuart, FL	1.0–2.0	1.0–2.0	886	$1,850	$2.09	14d	2	1.09mi
1398 NW Cavendish Ct Stuart, FL	2.0–3.0	2.5	1242	$2,393	$1.93	21d	11	1.10mi
64 NE Acacia Trl Jensen Beach, FL	2.0	2.0	1000	$3,000	$3.00	23d	1	1.28mi
975 NW Flagler Ave #403 Stuart, FL	2.0	2.0	1082	$3,000	$2.77	23d	1	1.32mi
975 NW Flagler Ave #407 Stuart, FL	2.0	2.0	1226	$4,500	$3.67	23d	1	1.32mi
975 NW Flagler Ave #306 Stuart, FL	2.0	2.0	1182	$2,500	$2.12	23d	1	1.32mi
975 NW Flagler Ave Stuart, FL	2.0	2.0	1226	$2,800	$2.28	23d	1	1.32mi
975 NW Flagler Ave #307 Stuart, FL	2.0	2.0	1226	$2,750	$2.24	23d	1	1.32mi
875 NW Flagler Ave #302 Stuart, FL	2.0	2.0	1082	$2,900	$2.68	14d	1	1.35mi
875 NW Flagler Ave #404 Stuart, FL	2.0	2.0	1183	$5,250	$4.44	23d	1	1.35mi
3751 NW Willow Creek Dr Jensen Beach, FL	2.0	2.0	1467	$2,900	$1.98	23d	1	1.39mi
3781 NW Willow Creek Dr Jensen Beach, FL	2.0	2.0	1330	$2,700	$2.03	23d	1	1.41mi
3624 NW Adriatic Ln Unit 308 Jensen Beach, FL	1.0	1.0	781	$1,659	$2.12	23d	1	1.42mi
3617 NW Adriatic Ln Jensen Beach, FL	1.0	1.0	802	$1,595	$1.99	23d	1	1.44mi
590 NE Lima Vias Jensen Beach, FL	2.0	2.0	1295	$3,300	$2.55	23d	1	1.48mi
3628 NW Adriatic Ln Jensen Beach, FL	2.0	2.0	1067	$1,875	$1.76	14d	1	1.49mi
3605 NW Adriatic Ln Unit 7-103 Jensen Beach, FL	2.0	2.0	1067	$1,850	$1.73	14d	1	1.49mi
3655 NW Adriatic Ln #307 Jensen Beach, FL	1.0	1.0	781	$1,595	$2.04	14d	1	1.49mi
3805 NW Mediterranean Ln Jensen Beach, FL	2.0	2.0	1067	$1,975	$1.85	14d	1	1.49mi
3614 NW Adriatic Ln Jensen Beach, FL	1.0	1.0	781	$1,550	$1.98	23d	1	1.49mi
3620 NW Adriatic Ln #306 Jensen Beach, FL	1.0	1.0	781	$1,595	$2.04	23d	1	1.49mi
3663 NW Adriatic Ln Jensen Beach, FL	3.0	2.0	1255	$2,195	$1.75	14d	1	1.49mi
3690 NW Mediterranean Ln Unit 12-305 Jensen Beach, FL	2.0	2.0	1067	$1,850	$1.73	23d	1	1.49mi

HOA detail condo

• Monthly dues: $528 · $6,336/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $117,600 Active 13 DOM
2. 2026-06-17
   days on market $117,600 Active 12 DOM
3. 2026-06-16
   days on market $117,600 Active 11 DOM
4. 2026-06-15
   days on market $117,600 Active 10 DOM
5. 2026-06-14
   days on market $117,600 Active 8 DOM
6. 2026-06-13
   days on market $117,600 Active 7 DOM
7. 2026-06-10
   days on market $117,600 Active 5 DOM
8. 2026-06-09
   days on market $117,600 Active 4 DOM
9. 2026-06-08
   days on market $117,600 Active 3 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $117,600 Active 2 DOM

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,524
• − Mortgage interest: −$6,587
• − Property taxes: −$1,764
• − Insurance: −$588
• − Repairs & maintenance: −$1,962
• − Management: −$1,962
• − HOA: −$6,336
• − Depreciation: −$3,421
• Taxable income: $1,903
• Est. tax owed @ 24.0%: −$457
• After-tax cash flow: $2,828/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 75/100 Cosmetic rehab

This well-maintained, second-floor condo in Vista Del Lago offers a good condition with recent updates and access to community amenities. It is ready for a fresh coat of paint and new flooring to further enhance its value.

Value-add opportunities

• Both Paint interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Replace flooring — New flooring can improve the home's appearance and increase its value.
• Both Update kitchen appliances — Modern appliances can make the kitchen more functional and appealing to potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Replace flooring — New flooring can improve the home's appearance and increase its value. ↑
• Both Update kitchen appliances — Modern appliances can make the kitchen more functional and appealing to potential buyers/renters. ↑

ⓘ 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 — North River Shores

• Score: 74/100
• State rank: #292
• US rank: #4906

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North River Shores, FL
• County: Martin County · 165,223 people
• 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

+30.8% since first listed

24 events — show timeline

• 2026-06-05 Listed $117,600 MCRTC
• 2025-08-12 Relisted — MCRTC
• 2025-08-12 Price Changed $128,000 MCRTC
• 2025-06-12 Listed $136,600 MCRTC
• 2025-03-01 Listing Removed — Beaches MLS
• 2025-01-08 Price Changed $162,900 Beaches MLS
• 2025-01-08 Price Changed $162,900 MCRTC
• 2024-11-12 Price Changed $164,900 Beaches MLS
• 2024-11-12 Price Changed $164,900 MCRTC
• 2024-11-05 Price Changed $168,000 Beaches MLS
• 2024-11-05 Price Changed $168,000 MCRTC
• 2024-10-23 Listed $175,000 Beaches MLS
• 2024-10-02 Listed $175,000 MCRTC
• 2016-06-26 Listing Removed — MCRTC
• 2016-05-25 Sold (MLS) $69,900 MCRTC
• 2016-03-23 Pending — MCRTC
• 2016-03-18 Contingent — MCRTC
• 2016-02-22 Listed $69,900 MCRTC
• 2013-04-01 Sold (MLS) $48,000 Beaches MLS
• 2013-02-13 Listing Removed — Beaches MLS
• 2012-10-08 Listed $52,000 Beaches MLS
• 2011-12-20 Listing Removed — MCRTC
• 2011-06-20 Listed $57,000 MCRTC
• 2008-04-07 Listed $89,900 MCRTC