677 Nettles Blvd · Hutchinson Island South, FL 34957

$310,000

2 bd · 2.0 ba · 810 sqft · Manufactured public records · 124 Days on market

Built 1995 2,217 sqft lot Est $295k · 5% over $419/mo HOA · 12% 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).

• Cash flow +19.0/30.0
• DSCR +6.0/10.0
• 1% rule +5.8/10.0
• ARV discount +5.2/15.0
• Schools +3.7/10.0
• Livability +3.1/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for resort living on Hutchinson Island, this 2 bedroom 2 Bath corner property checks all the boxes. Updated Kitchen, Metal Roof in 2015, AC in 2018, Pavers in 2020, Storm Shutters in 2021 and a NEW Master Bath in 2026. This home is ready for your personal touch. Nettles Island is a 24 hour guard gated community located between the Atlantic Ocean and the Intracoastal Waterway. 2 pools, private beach access, mini golf, shuffleboard, horseshoes, bocce, pickle ball, corn hole, tennis, and basketball.

Key facts

• Metal roof
• Master bath
• 2 pools

Tags

• UPDATED KITCHEN
• METAL ROOF
• STORM SHUTTERS
• MASTER BATH
• PRIVATE BEACH ACCESS
• 2 POOLS

Property features AI

Finance

• Financial info: Pets allowed with number limits
• HOA & community: Homeowners association with $419 monthly fee; Association fee covers management, cable TV, grounds maintenance, recreation facilities, reserve fund, sewer, security, trash, and water; Gated community with on-site property manager; Community amenities include clubhouse, fitness center, pool, tennis courts, pickleball, basketball court, bocce court, putting green, playground, shuffleboard, boat facilities, restaurant, business center, library, game room, billiard room, elevators, sidewalks, and street lights

Exterior

• Utilities: Public water (connected); Public sewer (connected); Cable available
• Home design: Manufactured home; Single-story
• Construction: Manufactured construction
• Exterior features: Community pool and community spa; Cabana

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Unfurnished; Primary bedroom on the downstairs level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $310k.

Deal economics

• At list price, monthly cash flow is $-104 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $292k (6.0% below list).
• Meets the 1% rule at list price ($3k rent vs $310k).
• Recommended offer: $273k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 2.0% in Hutchinson Island South — 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 61/100 on livability (#783 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing B; Watch: cost of living C-, amenities F, commute F.
• St. Lucie (urban): math 40% / reading 48% proficiency, ranked #51 of 73 in FL (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Manatee Academy K-8 (math 53% / reading 51%, grade C-, #990 of 2,144 statewide, top 48%, 1,664 students, 65% FRL); Southern Oaks Middle School (math 39% / reading 43%, grade F, #353 of 571 statewide, top 63%, 894 students, 76% FRL); Fort Pierce Central High School (math 15% / reading 45%, grade F, #441 of 667 statewide, top 67%, 3,091 students, 62% FRL).
• Market conditions: Rents rising (+1.0%/yr); 539 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• At $3,352/mo this rent would consume 57% of the median local household income ($70k/yr) (locally 946% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• St. Lucie County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $272,800 (12.0% 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 124 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 1.08% ✓
• Cap rate: 7.54%
• Cash-on-cash: 4.45%
• DSCR: 1.20
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $294,840
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
860 Nettles Blvd #860	0.12mi	2/2.0	750 (-7%)	2mo	$325,000	$433	81
976 Nettles Blvd	0.23mi	2/1.0	785 (-3%)	3mo	$205,000	$261	78
177 Nettles Blvd	0.22mi	2/2.0	780 (-4%)	17mo	$352,000	$451	70
1357 Nettles Blvd	0.23mi	2/2.0	752 (-7%)	12mo	$295,000	$392	67
1287 Nettles Blvd	0.18mi	1/1.5 (-1)	887 (+10%)	10mo	$262,000	$295	60
121 Nettles Blvd	0.33mi	2/1.5	736 (-9%)	9mo	$240,000	$326	60
566 Nettles Blvd	0.10mi	1/1.5 (-1)	700 (-14%)	8mo	$255,000	$364	59
496 Nettles Blvd	0.11mi	2/2.0	888 (+10%)	24mo	$338,000	$381	59
323 Nettles Blvd	0.20mi	2/1.0	723 (-11%)	13mo	$194,000	$268	58

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 · 1.0% rent growth · sell at horizon

5-year hold

• IRR: -21.5%
• Equity multiple: 0.27×
• Total profit: $-63,072
• Equity at exit: $46,222

10-year hold

• IRR: -22.3%
• Equity multiple: -0.01×
• Total profit: $-87,830
• Equity at exit: $26,803

Cash invested: $86,800 (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 34957

• Rents YoY: 1.0%
• Active inventory: 539
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,352 high
• Mortgage (P&I): −$1,626
• Tax from tax record: −$152 /mo · $1,829/yr
• Insurance: −$129
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$419
• Vacancy / Maint / Mgmt: −$704
• Net cashflow: $-104

Break-even live

Break-even rent $3,485

Max offer price $291,554

Occupancy floor 98%

Sensitivity live

Price	-10% $71	-5% $-17	+0% $-104	+5% $-192	+10% $-280
Rent	-10% $-369	-5% $-237	+0% $-104	+5% $28	+10% $160
Rate	-1.0pp $52	-0.5pp $-26	base $-104	+0.5pp $-185	+1.0pp $-266

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13 Nettles Blvd Jensen Beach, FL	2.0	2.0	730	$4,400	$6.03	25d	1	0.35mi
1077 Nettles Blvd Jensen Beach, FL	2.0	2.0	854	$3,500	$4.10	15d	1	0.35mi
1161 Nettles Blvd Unit 1546132P Jensen Beach, FL	2.0	2.0	710	$4,838	$6.81	15d	1	0.37mi
9490 S Ocean Dr #611 Jensen Beach, FL	2.0	2.0	1053	$2,750	$2.61	15d	1	0.49mi
9490 S Ocean Dr #213 Jensen Beach, FL	2.0	2.0	1053	$2,600	$2.47	25d	1	0.49mi
9490 S Ocean Dr Unit 615A Jensen Beach, FL	2.0	2.0	1100	$2,900	$2.64	25d	1	0.49mi
9490 S Ocean Dr Unit 912-A Jensen Beach, FL	2.0	2.0	1053	$3,200	$3.04	25d	1	0.49mi
9490 S Ocean Dr Unit 113 A Jensen Beach, FL	2.0	2.0	1053	$4,200	$3.99	25d	1	0.60mi
9900 S Ocean Dr Jensen Beach, FL	1.0–2.0	2.0	1009	$3,500	$3.47	25d	5	0.61mi
9400 S Ocean Dr Unit 1003B Jensen Beach, FL	2.0	2.0	1053	$2,700	$2.56	25d	1	0.61mi
9400 S Ocean Dr #202 Jensen Beach, FL	2.0	2.0	1053	$5,600	$5.32	25d	1	0.62mi
9400 S Ocean Dr #307 Jensen Beach, FL	2.0	2.0	1053	$2,500	$2.37	25d	1	0.62mi
9400 S Ocean Dr #707 Jensen Beach, FL	2.0	2.0	1053	$3,000	$2.85	25d	1	0.62mi
9400 S Ocean Dr Unit 608B Jensen Beach, FL	2.0	2.0	1112	$6,500	$5.85	25d	1	0.62mi
9400 S Ocean Dr Unit 706B Jensen Beach, FL	2.0	2.0	1053	$3,500	$3.32	25d	1	0.62mi
9400 S Ocean Dr Unit 504B Jensen Beach, FL	2.0	2.0	1053	$2,400	$2.28	25d	1	0.63mi
9400 S Ocean Dr Unit 604B Jensen Beach, FL	2.0	2.0	1053	$5,400	$5.13	25d	1	0.63mi
9940 S Ocean Dr Jensen Beach, FL	1.0–2.0	1.5–2.0	1009	$3,500	$3.47	15d	5	0.66mi
8880 S Ocean Dr #1102 Jensen Beach, FL	1.0	2.0	1011	$5,200	$5.14	25d	1	0.95mi
10102 S Ocean Dr Unit 401A Jensen Beach, FL	2.0	2.0	1113	$2,990	$2.69	25d	1	0.99mi
10102 S Ocean Dr Unit 307A Jensen Beach, FL	2.0	2.0	1053	$2,600	$2.47	25d	1	0.99mi
10102 S Ocean Dr Unit 703 Jensen Beach, FL	2.0	2.0	1053	$3,800	$3.61	25d	1	0.99mi
10102 S Ocean Dr #107 Jensen Beach, FL	2.0	2.0	1053	$2,200	$2.09	25d	1	1.00mi
10152 S Ocean Dr Unit 418B Jensen Beach, FL	2.0	2.0	1053	$4,000	$3.80	25d	1	1.05mi
200 N El Mar Dr Unit B202 Jensen Beach, FL	2.0	2.0	925	$2,500	$2.70	22d	1	1.14mi
10310 S Ocean Dr Unit PH Jensen Beach, FL	2.0	2.0	1021	$3,200	$3.13	25d	1	1.16mi
10310 S Ocean Dr Jensen Beach, FL	2.0	2.0	1053	$2,750	$2.61	25d	2	1.17mi
10600 S Ocean Dr Jensen Beach, FL	2.0	2.0	1071	$3,950	$3.69	25d	3	1.38mi
10725 S Ocean Dr #307 Jensen Beach, FL	2.0	2.0	787	$2,000	$2.54	25d	1	1.42mi
10680 S Ocean Dr Jensen Beach, FL	2.0	2.0	1211	$4,550	$3.76	15d	4	1.48mi

HOA detail

• Monthly dues: $419 · $5,028/yr
• Likely covers: waterpoolsecurity

Listing history 29 events

1. 2026-06-21
   days on market $310,000 Active 124 DOM
2. 2026-06-18
   days on market $310,000 Active 121 DOM
3. 2026-06-17
   days on market $310,000 Active 120 DOM
4. 2026-06-16
   days on market $310,000 Active 119 DOM
5. 2026-06-15
   days on market $310,000 Active 118 DOM
6. 2026-06-14
   days on market $310,000 Active 116 DOM
7. 2026-06-13
   days on market $310,000 Active 115 DOM
8. 2026-06-10
   days on market $310,000 Active 113 DOM
9. 2026-06-09
   days on market $310,000 Active 112 DOM
10. 2026-06-08
    days on market $310,000 Active 111 DOM
11. 2026-06-07
    days on market $310,000 Active 110 DOM
12. 2026-06-05
    days on market $310,000 Active 107 DOM
13. 2026-06-03
    days on market $310,000 Active 106 DOM
14. 2026-06-02
    days on market $310,000 Active 105 DOM
15. 2026-06-01
    days on market $310,000 Active 104 DOM
16. 2026-05-31
    price $310,000 Active 103 DOM
17. 2026-05-31
    days on market $320,000 Active 103 DOM
18. 2026-05-30
    days on market $320,000 Active 102 DOM
19. 2026-02-16
    listed $320,000 Active
20. 2016-06-26
    historical
21. 2014-10-20
    historical
22. 2013-09-22
    historical
23. 2006-05-13
    historical
24. 2005-11-13
    listed $259,000
25. 2005-10-17
    historical
26. 2005-07-10
    listed $269,000
27. 2005-07-10
    listed $269,000
28. 2005-03-23
    listed $269,000
29. 2005-03-23
    listed $269,000

ⓘ 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: $1,829 · $152/mo
• Projected year-2 tax: $2,573 · $214/mo
• Expected delta: +$744/yr (+$62/mo · 40.7%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 22 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,228
• − Mortgage interest: −$17,365
• − Property taxes: −$1,829
• − Insurance: −$6,668
• − Repairs & maintenance: −$3,218
• − Management: −$3,218
• − HOA: −$5,028
• − Depreciation: −$9,018
• Taxable loss: −$6,117
• Est. tax savings @ 24.0%: +$1,468
• After-tax cash flow: $215/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: St. Lucie
• NCES district ID: 1201770
• Math proficiency: 40% ▼ -11.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $44,737
• Composite: 37.28/100
• National rank: #4449
• State rank: #51 of 73 in FL

Livability — Hutchinson Island South

• Score: 61/100
• State rank: #783
• US rank: #17768

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hutchinson Island South, FL
• County: Martin County · 165,223 people
• Metro: Port St. Lucie, FL
• Population (ZIP): 23,462
• Household income: $70,403
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 946.0

Population outlook (St. Lucie County) Hauer SSP2

• Today (2025): 338,016 people
• By 2030: 355,687 · +5.2%
• By 2040: 385,521 · +14.1%
• By 2050: 406,106 · +20.1%
• By 2075: 441,054 · +30.5%
• By 2100: 436,885 · +29.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 6% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 2% Tagalog/Filipino 1%

Political lean MEDSL · St. Lucie

• 2024 margin: Lean R (+9.1) · D 45.1% · R 54.2%
• 2008→2024 swing: -21.2pp toward R · 2008: 12.1pp · 2024: -9.1pp
• All cycles: 2024: R+9.1 2020: R+1.6 2016: R+2.5 2012: D+7.9 2008: D+12.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -319.66%
• Current HPI: 340.0172
• Rent YoY: ▲ 1.00%
• 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

+19.0% since first listed

11 events — show timeline

• 2026-02-16 Listed $320,000 MCRTC
• 2016-06-26 Listing Removed — MCRTC
• 2014-10-20 Listing Removed — Beaches MLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2006-05-13 Listing Removed — MCRTC
• 2005-11-13 Listed $259,000 MCRTC
• 2005-10-17 Listing Removed — MCRTC
• 2005-07-10 Listed $269,000 MCRTC
• 2005-07-10 Listed $269,000 Beaches MLS
• 2005-03-23 Listed $269,000 MCRTC
• 2005-03-23 Listed $269,000 Beaches MLS

Property tax history

+9.9%/yr

Latest (2025): $1,829 · +4.4% YoY. Source: county tax records.