2370 NE Ocean Blvd Unit C305 · Sewall's Point, FL 34996

$395,000

2 bd · 2.0 ba · 1,227 sqft · Condo public records · 261 Days on market

Built 1977 $322/sqft · 22% below area Est $510k · 22% under $1113/mo HOA · 28% of rent

---

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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +8.0/30.0
• 1% rule +4.9/10.0
• Schools +4.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0

Listing remarks MLS

Gorgeous wide water views from this 3rd floor penthouse condo with over 9' ceilings. Wall to the guest bedroom has been taken down adding more space to the living area & can easily be put back up. Ocean View has 2 oceanfront condos with additional pool, beach access, & clubhouse with game room, kitchen, library ,pool table, & TV's. Buyer must own for 1 year before renting out. No pets allowed.

Key facts

• $1,113 HOA
• Community pool
• Built 1977

🏷️ Possibly a rental listed for sale. The $395,000 price doesn't fit this home's estimated sale value (~$509,552) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $395k.

Deal economics

• At list price, monthly cash flow is $-473 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $311k (21.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $391k (1.0% below list).
• Recommended offer: $311k (21.1% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 0.7% 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 C — 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.
• Market conditions: 252 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $3,911/mo this rent would consume 56% of the median local household income ($84k/yr) (locally 247% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $42k of equity ($3k loan paydown + $40k 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 ~$68k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 261 days — a 12% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $49k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $395k implies a 468% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 28% of rent.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $311,498 (21.1% 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 261 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.99% ✗
• Cap rate: 5.06%
• Cash-on-cash: -4.41%
• DSCR: 0.80
• GRM: 8.4

CMA / ARV

• ARV (median comp): $509,552
• List price: $395,000
• Delta: -22.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 20.7%
• Equity multiple: 2.68×
• Total profit: $185,592
• Equity at exit: $355,847

10-year hold

• IRR: 18.9%
• Equity multiple: 6.17×
• Total profit: $571,348
• Equity at exit: $767,398

Cash invested: $110,600 (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: 8.4×

Monthly cashflow live

• Estimated rent: $3,911 high
• Mortgage (P&I): −$2,071
• Tax from tax record: −$147 /mo · $1,761/yr
• Insurance: −$165
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,113
• Vacancy / Maint / Mgmt: −$821
• Net cashflow: $-473

Break-even live

Break-even rent $4,509

Max offer price $311,498

Occupancy floor —

Sensitivity live

Price	-10% $-249	-5% $-361	+0% $-473	+5% $-584	+10% $-696
Rent	-10% $-782	-5% $-627	+0% $-473	+5% $-318	+10% $-164
Rate	-1.0pp $-274	-0.5pp $-372	base $-473	+0.5pp $-575	+1.0pp $-679

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2375 NE Ocean Blvd Unit E402 Stuart, FL	2.0	2.0	1227	$3,500	$2.85	24d	1	0.09mi
2355 NE Ocean Blvd Unit 1-7A Stuart, FL	1.0	1.0	937	$3,800	$4.06	24d	1	0.17mi
2355 NE Ocean Blvd Unit 1-19B Stuart, FL	2.0	2.0	1197	$6,200	$5.18	24d	1	0.17mi
2355 NE Ocean Blvd Unit 1-20A Stuart, FL	1.0	1.0	937	$2,900	$3.09	24d	1	0.17mi
2491 NE Ocean Blvd #302 Stuart, FL	2.0	2.0	1436	$3,250	$2.26	15d	1	0.23mi
4720 NE Sandpebble Trce #403 Stuart, FL	2.0	2.0	1032	$2,800	$2.71	24d	1	0.27mi
2571 NE Ocean Blvd Stuart, FL	2.0	2.0	1354	$3,250	$2.40	24d	1	0.29mi
4620 NE Sandpebble Trce #104 Stuart, FL	2.0	2.0	1032	$2,200	$2.13	24d	1	0.33mi
2641 NE Ocean Blvd #405 Stuart, FL	2.0	2.0	1436	$7,000	$4.87	24d	1	0.35mi
4540 NE Sandpebble Trce #104 Stuart, FL	2.0	2.0	1032	$2,400	$2.33	24d	1	0.43mi
1550 NE Ocean Blvd Stuart, FL	2.0	2.0	1101	$2,125	$1.93	24d	2	0.49mi
4440 NE Sandpebble Trce #104 Stuart, FL	2.0	2.0	1032	$6,500	$6.30	24d	1	0.51mi
4440 NE Sandpebble Trce #201 Stuart, FL	2.0	2.0	1233	$6,000	$4.87	24d	1	0.51mi
3541 NE Ocean Blvd Jensen Beach, FL	2.0	2.0	1093	$3,575	$3.27	24d	2	0.53mi
1501 NE Ocean Blvd #2 Stuart, FL	2.0	1.5	925	$4,300	$4.65	24d	1	0.75mi
1357 NE Ocean Blvd #312 Stuart, FL	2.0	2.0	1242	$5,500	$4.43	24d	1	0.85mi
1357 NE Ocean Blvd Stuart, FL	2.0	2.0	1204	$5,250	$4.36	22d	2	0.85mi
1289 NE Ocean Blvd Stuart, FL	2.0	2.0	1234	$5,700	$4.62	22d	5	0.95mi
3792 NE Ocean Blvd Jensen Beach, FL	2.0	2.0	1204	$3,000	$2.49	24d	2	1.48mi

HOA detail condo

• Monthly dues: $1,113 · $13,356/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-21
   days on market $395,000 Active 261 DOM
2. 2026-06-18
   days on market $395,000 Active 258 DOM
3. 2026-06-17
   days on market $395,000 Active 257 DOM
4. 2026-06-16
   days on market $395,000 Active 256 DOM
5. 2026-06-15
   days on market $395,000 Active 255 DOM
6. 2026-06-14
   days on market $395,000 Active 253 DOM
7. 2026-06-13
   days on market $395,000 Active 252 DOM
8. 2026-06-10
   days on market $395,000 Active 250 DOM
9. 2026-06-09
   days on market $395,000 Active 249 DOM
10. 2026-06-08
    days on market $395,000 Active 248 DOM
11. 2026-06-07
    days on market $395,000 Active 247 DOM
12. 2026-06-03
    days on market $395,000 Active 243 DOM
13. 2026-06-02
    days on market $395,000 Active 242 DOM
14. 2026-06-01
    days on market $395,000 Active 241 DOM
15. 2026-05-31
    days on market $395,000 Active 240 DOM
16. 2026-05-31
    days on market $395,000 Active 239 DOM
17. 2026-04-02
    price $395,000 409-char remark

    Show marketing remark (439 chars)

    Just reduced to $395,000. Gorgeous wide water views from this 3rd floor penthouse condo with over 9' ceilings. Wall to the guest bedroom has been taken down adding more space to the living area & can easily be put back up. Ocean View has 2 oceanfront condos with additional pool, beach access, & clubhouse with game room, kitchen, library , pool table, & TV's. Buyer must own for 1 year before renting out. No pets allowed.

18. 2026-04-02
    price $395,000 439-char remark

    Show marketing remark (439 chars)

    Just reduced to $395,000. Gorgeous wide water views from this 3rd floor penthouse condo with over 9' ceilings. Wall to the guest bedroom has been taken down adding more space to the living area & can easily be put back up. Ocean View has 2 oceanfront condos with additional pool, beach access, & clubhouse with game room, kitchen, library , pool table, & TV's. Buyer must own for 1 year before renting out. No pets allowed.

19. 2026-01-10
    price $410,000 409-char remark

    Show marketing remark (439 chars)

    Just reduced to $395,000. Gorgeous wide water views from this 3rd floor penthouse condo with over 9' ceilings. Wall to the guest bedroom has been taken down adding more space to the living area & can easily be put back up. Ocean View has 2 oceanfront condos with additional pool, beach access, & clubhouse with game room, kitchen, library , pool table, & TV's. Buyer must own for 1 year before renting out. No pets allowed.

20. 2026-01-10
    price $410,000 439-char remark

    Show marketing remark (439 chars)

    Just reduced to $395,000. Gorgeous wide water views from this 3rd floor penthouse condo with over 9' ceilings. Wall to the guest bedroom has been taken down adding more space to the living area & can easily be put back up. Ocean View has 2 oceanfront condos with additional pool, beach access, & clubhouse with game room, kitchen, library , pool table, & TV's. Buyer must own for 1 year before renting out. No pets allowed.

21. 2025-10-03
    listed $444,000 Active 409-char remark

    Show marketing remark (439 chars)

    Just reduced to $395,000. Gorgeous wide water views from this 3rd floor penthouse condo with over 9' ceilings. Wall to the guest bedroom has been taken down adding more space to the living area & can easily be put back up. Ocean View has 2 oceanfront condos with additional pool, beach access, & clubhouse with game room, kitchen, library , pool table, & TV's. Buyer must own for 1 year before renting out. No pets allowed.

22. 2025-10-03
    listed $444,000 Active 439-char remark

    Show marketing remark (439 chars)

    Just reduced to $395,000. Gorgeous wide water views from this 3rd floor penthouse condo with over 9' ceilings. Wall to the guest bedroom has been taken down adding more space to the living area & can easily be put back up. Ocean View has 2 oceanfront condos with additional pool, beach access, & clubhouse with game room, kitchen, library , pool table, & TV's. Buyer must own for 1 year before renting out. No pets allowed.

23. 2025-09-25
    historical $444,000 409-char remark

    Show marketing remark (439 chars)

    Just reduced to $395,000. Gorgeous wide water views from this 3rd floor penthouse condo with over 9' ceilings. Wall to the guest bedroom has been taken down adding more space to the living area & can easily be put back up. Ocean View has 2 oceanfront condos with additional pool, beach access, & clubhouse with game room, kitchen, library , pool table, & TV's. Buyer must own for 1 year before renting out. No pets allowed.

24. 2025-09-25
    historical $444,000 439-char remark

    Show marketing remark (439 chars)

    Just reduced to $395,000. Gorgeous wide water views from this 3rd floor penthouse condo with over 9' ceilings. Wall to the guest bedroom has been taken down adding more space to the living area & can easily be put back up. Ocean View has 2 oceanfront condos with additional pool, beach access, & clubhouse with game room, kitchen, library , pool table, & TV's. Buyer must own for 1 year before renting out. No pets allowed.

25. 1978-05-01
    soldstatus $69,500

ⓘ 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: $1,761 · $147/mo
• Projected year-2 tax: $3,278 · $273/mo
• Expected delta: +$1,517/yr (+$126/mo · 86.2%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 26 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: $46,930
• − Mortgage interest: −$22,126
• − Property taxes: −$1,761
• − Insurance: −$2,772
• − Repairs & maintenance: −$3,754
• − Management: −$3,754
• − HOA: −$13,356
• − Depreciation: −$11,491
• Taxable loss: −$12,086
• Est. tax savings @ 24.0%: +$2,901
• After-tax cash flow: $-2,772/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

+468.3% since first listed

9 events — show timeline

• 2026-04-02 Price Changed $395,000 Beaches MLS
• 2026-04-02 Price Changed $395,000 MCRTC
• 2026-01-10 Price Changed $410,000 Beaches MLS
• 2026-01-10 Price Changed $410,000 MCRTC
• 2025-10-03 Listed $444,000 Beaches MLS
• 2025-10-03 Listed $444,000 MCRTC
• 2025-09-25 Coming Soon $444,000 Beaches MLS
• 2025-09-25 Coming Soon $444,000 MCRTC
• 1978-05-01 Sold (Public Records) $69,500 Public Records

Property tax history

+1.6%/yr

Latest (2025): $1,761 · -0.9% YoY. Source: county tax records.