7388 SE Swan Ave · Hobe Sound, FL 33455

$174,900

2 bd · 2.0 ba · 720 sqft · Manufactured public records · 7 Days on market

Built 1977 6,098 sqft lot Est $172k · at est.

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +6.8/15.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2 Bedrm/ 2 Bath Singlewide in Ridgway, all ages park in Hobe Sound. 1020 sq ft under a/c. Convenient SPLIT PLAN w bedrms on either end of home. The Master Bedrm has a double closet & built-in bureau. The Master Bath has been updated in 2022 w new granite topped vanity, shower surround & chair height toilet. The Kitchen is light & bright w new glass top range in 2021 & new counter top. The side Florida Room is where the owners hang out w a large opening to the LR & Kitchen. A/C new in 2020. New Aluminum Roof-over 2002. Driveway painted & sealed 2022, new front steps 2022, new flooring in Kitchen & Hallway 2020. 200 Amp Service 2018, new hot water heater 2019. Ridgeway is mins to ocean beaches, ICW Boat Ramp, shopping & restaurants. YOU OWN THE LAND - ALL PETS WELCOME! NO HOA FEE.

Key facts

• Swimming pool
• Pristine beaches
• 6,098 sq ft lot

Tags

• NO MANDATORY HOA FEES
• OPTIONAL MEMBERSHIP CLUBHOUSE
• SWIMMING POOL
• PRISTINE BEACHES
• SPLIT-BEDROOM FLOOR PLAN
• AIR CONDITIONED FLORIDA ROOM

Property features AI

Finance

• Other: Homestead exemption; Zoning: RT
• Financial info: No lease restrictions
• HOA & community: No association fees; Pool; Golf carts allowed; Pets allowed (cats and dogs)

Exterior

• Parking: Carport with 2 spaces
• Security: Hurricane shutters; Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable available; BB/HS internet available; Sprinkler well
• Home design: Manufactured home (single wide); One story; East facing entry
• Construction: Metal siding; Roof over; Block foundation and crawlspace; Completed condition
• Exterior features: Covered, enclosed and screened porches (front, rear and side); Awning(s); Dog run / kennel; Storage; Workshop; Chain link fencing; Irrigation equipment; Cleared, landscaped and level lot; Paved road access (asphalt)

Interior

• Kitchen: Range; Microwave; Refrigerator; Electric water heater; Eat-in kitchen
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Concrete; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; Eat-in kitchen; Split bedroom layout; Thermostat; Blinds; Smoke detector(s)
• Laundry & utility: Washer hookup; Dryer hookup; Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $729 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 11.3% 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; 2 comparable units currently listed for rent nearby; 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).
• This rent runs 39% of the median local income ($70k/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.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $49k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,900

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.29% ✓
• Cap rate: 11.29%
• Cash-on-cash: 17.86%
• DSCR: 1.79
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $172,080
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7438 SE Swan Ave	0.05mi	2/2.0	728 (+1%)	14mo	$158,000	$217	84
7437 SE Swan Ave	0.06mi	2/2.0	744 (+3%)	18mo	$177,500	$239	76
8008 SE Swan Ave	0.56mi	2/2.0	720 (0%)	2mo	$145,000	$201	73
7289 SE Eagle Ave	0.09mi	3/2.0 (+1)	810 (+12%)	10mo	$190,000	$235	61
7836 SE Wren Ave	0.46mi	2/2.0	672 (-7%)	8mo	$185,000	$275	61
8130 SE Eagle Ave	0.69mi	2/2.0	672 (-7%)	3mo	$110,000	$164	54
7816 SE Wren Ave	0.44mi	2/1.0	672 (-7%)	12mo	$175,000	$260	54
8121 SE Skylark Ave	0.74mi	2/1.5	672 (-7%)	2mo	$165,000	$246	51
8126 SE Wren Ave	0.71mi	2/2.0	740 (+3%)	23mo	$190,000	$257	43

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: 8.1%
• Equity multiple: 1.31×
• Total profit: $15,325
• Equity at exit: $26,078

10-year hold

• IRR: 16.4%
• Equity multiple: 2.27×
• Total profit: $62,070
• Equity at exit: $15,122

Cash invested: $48,972 (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: 6.4×

Monthly cashflow live

• Estimated rent: $2,264 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$69 /mo · $834/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $729

Break-even live

Break-even rent $1,341

Max offer price $174,900

Occupancy floor 63%

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8160 SE Eagle Ave Hobe Sound, FL	2.0	1.0	672	$1,600	$2.38	23d	1	0.70mi
7109 SE Ridgeway Ter Hobe Sound, FL	2.0	1.0	624	$1,600	$2.56	21d	1	0.84mi

Listing history 7 events

1. 2026-06-18
   days on market $174,900 Active 7 DOM
2. 2026-06-17
   days on market $174,900 Active 6 DOM
3. 2026-06-16
   days on market $174,900 Active 5 DOM
4. 2026-06-15
   days on market $174,900 Active 4 DOM
5. 2026-06-14
   days on market $174,900 Active 2 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $174,900 Active 1 DOM

ⓘ 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: $834 · $69/mo
• Projected year-2 tax: $1,452 · $121/mo
• Expected delta: +$618/yr (+$51/mo · 74.1%)

ⓘ 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 · 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: $27,167
• − Mortgage interest: −$9,797
• − Property taxes: −$834
• − Insurance: −$874
• − Repairs & maintenance: −$2,173
• − Management: −$2,173
• − Depreciation: −$5,088
• Taxable income: $6,226
• Est. tax owed @ 24.0%: −$1,494
• After-tax cash flow: $7,253/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

+284.3% since first listed

7 events — show timeline

• 2026-06-11 Listed $174,900 Stellar MLS as Distributed by MLS Grid
• 2022-12-30 Sold (Public Records) $160,000 Public Records
• 2022-12-30 Sold (MLS) $160,000 Beaches MLS
• 2022-12-04 Pending — Beaches MLS
• 2022-11-30 Listed $160,000 Beaches MLS
• 1989-12-28 Sold (Public Records) $49,900 Public Records
• 1988-11-23 Sold (Public Records) $45,507 Public Records

Property tax history

-0.8%/yr

Latest (2025): $834 · +3.3% YoY. Source: county tax records.