1800 SE St. Lucie Blvd Unit 9-204 · Sewall's Point, FL 34996

$237,000

2 bd · 2.0 ba · 1,044 sqft · Condo public records · 225 Days on market

Built 1973 $227/sqft · 18% above area Est $222k · 7% over $904/mo HOA · 34% of rent

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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).

• Appreciation +10.0/10.0
• Cash flow +8.3/30.0
• 1% rule +6.2/10.0
• ARV discount +4.5/15.0
• Schools +4.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0

Listing remarks MLS

This light and bright second floor condo is in an elevator building and offers a beautiful view! It boasts ALL impact windows, including on the porch, plus a GE washer and dryer . The kitchen has been renovated with granite countertops, a pantry with pull out shelves, and new GE range and Whirlpool Refrigerator. The main bedroom has custom closet and an updated en suite bathroom. There are amenities galore in this active adult community. Large clubhouse, library, gym, game room, 3 heated pools, shuffleboard, fishing pier, tennis, pickleball and kayak storage. It is next to Martin County Puble golf course and minutes to beaches, shops, and medical facilities.

Key facts

• Custom closet
• Large clubhouse
• Granite countertops

Tags

• ELEVATOR BUILDING
• IMPACT WINDOWS
• GRANITE COUNTERTOPS
• CUSTOM CLOSET
• UPDATED EN SUITE BATHROOM
• LARGE CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $237k.

Deal economics

• At list price, monthly cash flow is $-215 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (16.1% below list).
• Meets the 1% rule at list price ($3k rent vs $237k).
• Recommended offer: $199k (16.1% below list) — sets the bar for cash-flow.
• Cap rate 5.2% vs local median 0.5% in Sewall's Point — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Zoned schools: J. D. Parker School of Technology (math 39% / reading 40%, grade F, #1,513 of 2,144 statewide, top 73%, 519 students, 72% FRL); Stuart Middle School (math 55% / reading 55%, grade B-, #180 of 571 statewide, top 32%, 867 students, 49% FRL); Jensen Beach High School (math 53% / reading 71%, grade B-, #98 of 667 statewide, top 15%, 1,584 students, 36% FRL).
• Market conditions: 252 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Martin County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 225 days — a 12% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 25y ago; this cycle's ask is 11750% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $88k; list at $237k implies a 169% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.
• Climate carrying-cost: major flood risk; 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 $198,940 (16.1% 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 225 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.12% ✓
• Cap rate: 5.20%
• Cash-on-cash: -3.90%
• DSCR: 0.83
• GRM: 7.5

CMA / ARV

• ARV (median comp): $222,139
• List price: $237,000
• Delta: 6.69%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 2.75×
• Total profit: $115,805
• Equity at exit: $213,508

10-year hold

• IRR: 19.5%
• Equity multiple: 6.32×
• Total profit: $352,715
• Equity at exit: $460,439

Cash invested: $66,360 (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 34996

• Home prices YoY: 2.1%
• Active inventory: 252
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,647 high
• Mortgage (P&I): −$1,243
• Tax from tax record: −$61 /mo · $731/yr
• Insurance: −$99
• HOA: −$904
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $-215

Break-even live

Break-even rent $2,920

Max offer price $198,940

Occupancy floor —

Sensitivity live

Price	-10% $-81	-5% $-148	+0% $-215	+5% $-283	+10% $-350
Rent	-10% $-425	-5% $-320	+0% $-215	+5% $-111	+10% $-6
Rate	-1.0pp $-96	-0.5pp $-155	base $-215	+0.5pp $-277	+1.0pp $-339

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: $59,250
• Closing costs: $7,110
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1800 SE Saint Lucie Blvd Stuart, FL	2.0	2.0	1044	$2,600	$2.49	25d	3	0.11mi
1196 SE Saint Lucie Blvd Stuart, FL	2.0	2.0	1309	$4,300	$3.28	25d	1	0.58mi
3129 SE Indian St #3 Stuart, FL	2.0	1.5	986	$2,300	$2.33	25d	1	0.58mi
2950 SE Ocean Blvd Stuart, FL	2.0	2.0	1157	$1,800	$1.56	16d	3	0.92mi
2600 SE Ocean Blvd Stuart, FL	1.0–2.0	1.5–2.0	951	$1,900	$2.00	16d	3	0.94mi
3002 SE Camino Ave Stuart, FL	2.0	1.0	930	$2,000	$2.15	25d	1	0.98mi
3003 SE Birch Ave Unit 3007 Stuart, FL	2.0	1.0	950	$2,200	$2.32	25d	1	0.99mi
3299 SE Garden St Stuart, FL	3.0	2.0	1360	$2,410	$1.77	25d	1	1.00mi
2934 SE Ellendale St Stuart, FL	2.0	2.0	900	$2,000	$2.22	16d	1	1.03mi
3003 SE Fairmont St Stuart, FL	3.0	2.0	1366	$2,500	$1.83	16d	1	1.03mi
2641 SE Clayton St Unit 2641 Stuart, FL	3.0	1.5	1150	$2,400	$2.09	25d	1	1.04mi
3166 SE Garden St Stuart, FL	2.0	1.0	870	$1,850	$2.13	16d	1	1.07mi
3166 SE Garden St Unit 3166 Stuart, FL	2.0	1.0	870	$1,900	$2.18	16d	1	1.07mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	25d	6	1.15mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	16d	8	1.15mi
2929 SE Ocean Blvd Unit 130 Stuart, FL	2.0	2.0	1005	$1,800	$1.79	25d	1	1.30mi
3250 SE Commerce Ave Stuart, FL	1.0–2.0	1.0–2.0	746	$2,206	$2.96	16d	28	1.36mi
300 SE Saint Lucie Blvd Stuart, FL	1.0–3.0	1.0–2.0	884	$2,258	$2.55	16d	12	1.41mi

HOA detail condo

• Monthly dues: $904 · $10,848/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-21
   days on market $237,000 Active 225 DOM
2. 2026-06-18
   days on market $237,000 Active 222 DOM
3. 2026-06-17
   days on market $237,000 Active 221 DOM
4. 2026-06-16
   days on market $237,000 Active 220 DOM
5. 2026-06-15
   days on market $237,000 Active 219 DOM
6. 2026-06-14
   days on market $237,000 Active 217 DOM
7. 2026-06-13
   days on market $237,000 Active 216 DOM
8. 2026-06-10
   days on market $237,000 Active 214 DOM
9. 2026-06-09
   days on market $237,000 Active 213 DOM
10. 2026-06-08
    days on market $237,000 Active 212 DOM
11. 2026-06-07
    days on market $237,000 Active 211 DOM
12. 2026-06-03
    days on market $237,000 Active 207 DOM
13. 2026-06-02
    days on market $237,000 Active 206 DOM
14. 2026-06-01
    days on market $237,000 Active 205 DOM
15. 2026-05-31
    days on market $237,000 Active 204 DOM
16. 2026-05-31
    days on market $237,000 Active 203 DOM
17. 2026-05-08
    status Active 666-char remark

    Show marketing remark (666 chars)

    This light and bright second floor condo is in an elevator building and offers a beautiful view! It boasts ALL impact windows, including on the porch, plus a GE washer and dryer . The kitchen has been renovated with granite countertops, a pantry with pull out shelves, and new GE range and Whirlpool Refrigerator. The main bedroom has custom closet and an updated en suite bathroom. There are amenities galore in this active adult community. Large clubhouse, library, gym, game room, 3 heated pools, shuffleboard, fishing pier, tennis, pickleball and kayak storage. It is next to Martin County Puble golf course and minutes to beaches, shops, and medical facilities.

18. 2026-05-07
    historical 666-char remark

    Show marketing remark (666 chars)

    This light and bright second floor condo is in an elevator building and offers a beautiful view! It boasts ALL impact windows, including on the porch, plus a GE washer and dryer . The kitchen has been renovated with granite countertops, a pantry with pull out shelves, and new GE range and Whirlpool Refrigerator. The main bedroom has custom closet and an updated en suite bathroom. There are amenities galore in this active adult community. Large clubhouse, library, gym, game room, 3 heated pools, shuffleboard, fishing pier, tennis, pickleball and kayak storage. It is next to Martin County Puble golf course and minutes to beaches, shops, and medical facilities.

19. 2026-04-23
    listed $2,000
20. 2026-02-12
    price $237,000 666-char remark

    Show marketing remark (666 chars)

    This light and bright second floor condo is in an elevator building and offers a beautiful view! It boasts ALL impact windows, including on the porch, plus a GE washer and dryer . The kitchen has been renovated with granite countertops, a pantry with pull out shelves, and new GE range and Whirlpool Refrigerator. The main bedroom has custom closet and an updated en suite bathroom. There are amenities galore in this active adult community. Large clubhouse, library, gym, game room, 3 heated pools, shuffleboard, fishing pier, tennis, pickleball and kayak storage. It is next to Martin County Puble golf course and minutes to beaches, shops, and medical facilities.

21. 2025-11-07
    listed $252,000 Active 666-char remark

    Show marketing remark (666 chars)

    This light and bright second floor condo is in an elevator building and offers a beautiful view! It boasts ALL impact windows, including on the porch, plus a GE washer and dryer . The kitchen has been renovated with granite countertops, a pantry with pull out shelves, and new GE range and Whirlpool Refrigerator. The main bedroom has custom closet and an updated en suite bathroom. There are amenities galore in this active adult community. Large clubhouse, library, gym, game room, 3 heated pools, shuffleboard, fishing pier, tennis, pickleball and kayak storage. It is next to Martin County Puble golf course and minutes to beaches, shops, and medical facilities.

22. 2014-04-10
    soldstatus $88,000
23. 2014-04-04
    soldstatus $88,000 1442-char remark

    Show marketing remark (1442 chars)

    Offering a spacious flowing floor plan, numerous upgrades and move in ready condition, this two bedroom two bath condo offers excellent personal and community amenities. Take advantage of the large community pool, play a game of tennis or work out in the well equipped fitness center or simply relax and enjoy the views from your private Florida Room. Unique to this unit, the balcony has been enclosed to create a sun bathed living space with lots of windows, great views and the comforts of central air. Outdoor living with indoor benefits! Plus, the building offers a beautiful lobby area to welcome your guest, elevators and due to its concrete and steel construction your unit is virtually soundproof. AMENITIES * California Closets in Both Bedrooms * Kitchen Base Cabinets Have Pull Out Shelves and Lazy Susan. Upper Cabinets  Enhanced with Crown Molding. * Kitchen Offers Abundance of Cabinets and Counter Space and Recessed Lighting * In Unit Washer and Dryer * 4 Ceiling Fans * TV Outlets in the Florida Room, Master Bedroom and Guest Room * Multiple Telephone Outlets Property has 12 3-story elevator buildings with 24 units in each and 55 SFRS. Condo is in a 3-story building. Extensive common grounds with trees and landscaping. Each bldg is its own corp and is constantly maintained. Beautiful entrance and atrium. Unit is well designed split plan in move in condition. Completely updated gourmet kitchen.

24. 2014-04-01
    historical 1442-char remark

    Show marketing remark (1442 chars)

    Offering a spacious flowing floor plan, numerous upgrades and move in ready condition, this two bedroom two bath condo offers excellent personal and community amenities. Take advantage of the large community pool, play a game of tennis or work out in the well equipped fitness center or simply relax and enjoy the views from your private Florida Room. Unique to this unit, the balcony has been enclosed to create a sun bathed living space with lots of windows, great views and the comforts of central air. Outdoor living with indoor benefits! Plus, the building offers a beautiful lobby area to welcome your guest, elevators and due to its concrete and steel construction your unit is virtually soundproof. AMENITIES * California Closets in Both Bedrooms * Kitchen Base Cabinets Have Pull Out Shelves and Lazy Susan. Upper Cabinets  Enhanced with Crown Molding. * Kitchen Offers Abundance of Cabinets and Counter Space and Recessed Lighting * In Unit Washer and Dryer * 4 Ceiling Fans * TV Outlets in the Florida Room, Master Bedroom and Guest Room * Multiple Telephone Outlets Property has 12 3-story elevator buildings with 24 units in each and 55 SFRS. Condo is in a 3-story building. Extensive common grounds with trees and landscaping. Each bldg is its own corp and is constantly maintained. Beautiful entrance and atrium. Unit is well designed split plan in move in condition. Completely updated gourmet kitchen.

25. 2013-09-11
    listed $89,900 1442-char remark

    Show marketing remark (1442 chars)

    Offering a spacious flowing floor plan, numerous upgrades and move in ready condition, this two bedroom two bath condo offers excellent personal and community amenities. Take advantage of the large community pool, play a game of tennis or work out in the well equipped fitness center or simply relax and enjoy the views from your private Florida Room. Unique to this unit, the balcony has been enclosed to create a sun bathed living space with lots of windows, great views and the comforts of central air. Outdoor living with indoor benefits! Plus, the building offers a beautiful lobby area to welcome your guest, elevators and due to its concrete and steel construction your unit is virtually soundproof. AMENITIES * California Closets in Both Bedrooms * Kitchen Base Cabinets Have Pull Out Shelves and Lazy Susan. Upper Cabinets  Enhanced with Crown Molding. * Kitchen Offers Abundance of Cabinets and Counter Space and Recessed Lighting * In Unit Washer and Dryer * 4 Ceiling Fans * TV Outlets in the Florida Room, Master Bedroom and Guest Room * Multiple Telephone Outlets Property has 12 3-story elevator buildings with 24 units in each and 55 SFRS. Condo is in a 3-story building. Extensive common grounds with trees and landscaping. Each bldg is its own corp and is constantly maintained. Beautiful entrance and atrium. Unit is well designed split plan in move in condition. Completely updated gourmet kitchen.

26. 2013-06-01
    historical
27. 2011-03-15
    listed $84,900
28. 2011-03-08
    historical
29. 2010-09-07
    listed $119,000
30. 2001-06-01
    soldstatus $75,000
31. 2001-05-31
    soldstatus $75,000
32. 2001-02-26
    listed $79,900
33. 1998-02-25
    soldstatus $62,000
34. 1997-06-02
    soldstatus $42,000

ⓘ 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: $731 · $61/mo
• Projected year-2 tax: $1,967 · $164/mo
• Expected delta: +$1,236/yr (+$103/mo · 169.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,763
• − Mortgage interest: −$13,276
• − Property taxes: −$731
• − Insurance: −$1,185
• − Repairs & maintenance: −$2,541
• − Management: −$2,541
• − HOA: −$10,848
• − Depreciation: −$6,895
• Taxable loss: −$6,253
• Est. tax savings @ 24.0%: +$1,501
• After-tax cash flow: $-1,085/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 — Sewall's Point

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Martin County · 165,223 people
• City population: 10,875
• Metro: Port St. Lucie, FL
• Population (ZIP): 10,653
• Household income: $83,929
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 247.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Italian 3% Romanian 3% Slovak 3%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 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: ▲ 13.71%
• Current HPI: 658.96
• Rent YoY: —
• 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

-95.2% since first listed

18 events — show timeline

• 2026-05-08 Relisted — MCRTC
• 2026-05-07 Listing Removed — MCRTC
• 2026-04-23 Listed for Rent $2,000 GFLMLS
• 2026-02-12 Price Changed $237,000 MCRTC
• 2025-11-07 Listed $252,000 MCRTC
• 2014-04-10 Sold (Public Records) $88,000 Public Records
• 2014-04-04 Sold (MLS) $88,000 Beaches MLS
• 2014-04-01 Listing Removed — Beaches MLS
• 2013-09-11 Listed $89,900 Beaches MLS
• 2013-06-01 Listing Removed — MCRTC
• 2011-03-15 Listed $84,900 MCRTC
• 2011-03-08 Listing Removed — MCRTC
• 2010-09-07 Listed $119,000 MCRTC
• 2001-06-01 Sold (Public Records) $75,000 Public Records
• 2001-05-31 Sold (MLS) $75,000 MCRTC
• 2001-02-26 Listed $79,900 MCRTC
• 1998-02-25 Sold (Public Records) $62,000 Public Records
• 1997-06-02 Sold (Public Records) $42,000 Public Records

Property tax history

-4.6%/yr

Latest (2025): $731 · -0.5% YoY. Source: county tax records.