1021 SE Monterey Rd Unit 1-43 · Stuart, FL 34994

$99,000

1 bd · 1.0 ba · 424 sqft · Condo public records · 62 Days on market

Built 1980 $382/mo HOA · 24% of rent

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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 +25.0/30.0
• 1% rule +10.0/10.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare find in Martin County — no age restrictions, no rental restrictions, and priced unlike anything else on the market. If you've been searching for an affordable, income-producing property that doesn't come with a 55+ caveat, your search ends here. This well-maintained end-unit studio condo at 1021 SE Monterey Commons offers the perfect blend of lifestyle and investment. Ideally situated just off Route 1 in the heart of Stuart, the smart, efficient layout makes excellent use of every square foot — featuring a full kitchen, comfortable living area, and a fully renovated $15k bathroom with a walk-in shower installed just two years ago. The unit also boasts a brand-new air conditioner and a new ceiling fan, meaning the big-ticket items are already done for you. Residents enjoy community amenities including a sparkling pool, recreation room, expansive green spaces, and convenient on-site laundry. Whether you're looking for a primary residence, a seasonal getaway, or a turnkey rental investment, this property delivers. It has already proven itself as a rental, previously commanding $1,250/month — with the freedom to rent immediately and no age restrictions, your tenant pool is wide open. Low monthly condo fees of just $382 make this an exceptional value with minimal hassle. In a market where comparable non-age-restricted condos simply don't exist at this price point, this is a genuine opportunity. Cash buyers preferred. Move fast — properties like this don't stay available for long.

Key facts

• Full kitchen
• Separate bedroom
• Community amenities

Tags

• NEW AIR CONDITIONER
• FULL KITCHEN
• COMFORTABLE LIVING ROOM
• SEPARATE BEDROOM
• FULL BATH
• COMMUNITY AMENITIES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $93k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 4.1% in Stuart — 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 84/100 on livability (#39 in FL, #790 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: crime C-, employment C-, amenities D.
• 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; 1 comparable units currently listed for rent nearby; 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).
• This rent runs 31% 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 $684 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 62 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $99k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% 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. 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. 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: 1.61% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.29%
• DSCR: 1.41
• GRM: 5.2

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: -6.9%
• Equity multiple: 0.75×
• Total profit: $-6,799
• Equity at exit: $14,761

10-year hold

• IRR: -3.6%
• Equity multiple: 0.81×
• Total profit: $-5,357
• Equity at exit: $8,560

Cash invested: $27,720 (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 34994

• Home prices YoY: -27.1%
• Rents YoY: -0.7%
• Active inventory: 256
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,591 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$100 /mo · $1,200/yr
• Insurance: −$41
• HOA: −$382
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $214

Break-even live

Break-even rent $1,320

Max offer price $99,000

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
701 SE Bahama Ave Unit A Stuart, FL	1.0	1.0	325	$1,700	$5.23	23d	1	1.17mi

HOA detail condo

• Monthly dues: $382 · $4,584/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-01
   days on market $99,000 Active 62 DOM
2. 2026-05-31
   days on market $99,000 Active 61 DOM
3. 2026-05-31
   days on market $99,000 Active 60 DOM
4. 2026-03-30
   listed $99,000 Active 1529-char remark

   Show marketing remark (1529 chars)

   Rare find in Martin County — no age restrictions, no rental restrictions, and priced unlike anything else on the market. If you've been searching for an affordable, income-producing property that doesn't come with a 55+ caveat, your search ends here. This well-maintained end-unit studio condo at 1021 SE Monterey Commons offers the perfect blend of lifestyle and investment. Ideally situated just off Route 1 in the heart of Stuart, the smart, efficient layout makes excellent use of every square foot — featuring a full kitchen, comfortable living area, and a fully renovated $15k bathroom with a walk-in shower installed just two years ago. The unit also boasts a brand-new air conditioner and a new ceiling fan, meaning the big-ticket items are already done for you. Residents enjoy community amenities including a sparkling pool, recreation room, expansive green spaces, and convenient on-site laundry. Whether you're looking for a primary residence, a seasonal getaway, or a turnkey rental investment, this property delivers. It has already proven itself as a rental, previously commanding $1,250/month — with the freedom to rent immediately and no age restrictions, your tenant pool is wide open. Low monthly condo fees of just $382 make this an exceptional value with minimal hassle. In a market where comparable non-age-restricted condos simply don't exist at this price point, this is a genuine opportunity. Cash buyers preferred. Move fast — properties like this don't stay available for long.

5. 2021-02-16
   soldstatus $60,000
6. 2013-03-04
   soldstatus $25,000
7. 2002-02-15
   soldstatus $23,300

ⓘ 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: $1,200 · $100/mo
• Projected year-2 tax: $1,200 · $100/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 24 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: $19,092
• − Mortgage interest: −$5,546
• − Property taxes: −$1,200
• − Insurance: −$495
• − Repairs & maintenance: −$1,527
• − Management: −$1,527
• − HOA: −$4,584
• − Depreciation: −$2,880
• Taxable income: $1,333
• Est. tax owed @ 24.0%: −$320
• After-tax cash flow: $2,254/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 — Stuart

• Score: 84/100
• State rank: #39
• US rank: #790

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stuart, FL
• County: Martin County · 165,223 people
• City population: 65,812
• 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

+324.9% since first listed

4 events — show timeline

• 2026-03-30 Listed $99,000 Beaches MLS
• 2021-02-16 Sold (Public Records) $60,000 Public Records
• 2013-03-04 Sold (Public Records) $25,000 Public Records
• 2002-02-15 Sold (Public Records) $23,300 Public Records

Property tax history

+9.8%/yr

Latest (2025): $1,200 · +0.5% YoY. Source: county tax records.