2491 NE Ocean Blvd #106 · Sewall's Point, FL 34996

$489,000

2 bd · 2.0 ba · 1,475 sqft · Condo public records · 116 Days on market

Built 1982 $332/sqft · 16% below area Est $579k · 16% under $1290/mo HOA · 34% of rent ↓ 35% since listing

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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).

• ARV discount +14.5/15.0
• Appreciation +10.0/10.0
• Schools +4.5/10.0
• 1% rule +2.8/10.0
• Cash flow +2.7/30.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks MLS

Enjoy the flexibility to rent right away! A valuable advantage compared to other communities. Experience beachfront living in this 2 bedroom oceanfront corner condo offering a spacious, well designed floor plan with nearly 1,500 square feet of living space and partial ocean views, accompanied by the calming sounds of the waves. Generously sized rooms create a comfortable layout that feels open and livable throughout. The condo offers a wonderful opportunity to personalize and update to your own taste while enjoying an exceptional beach setting. A desirable corner location enhances natural light and privacy, making it easy to settle in and enjoy beach living at your own pace. This community features five swimming pools, tennis courts, clubhouse, community marina with boat slips for lease and a trailer/kayak storage lot. Ideal as a full time residence, vacation retreat, or investment, this condo offers a true beachfront lifestyle

Key facts

• Beachfront living
• Oceanfront pools
• Tennis courts

Tags

• BEACHFRONT LIVING
• OCEANFRONT CORNER CONDO
• FIVE SWIMMING POOLS
• OCEANFRONT POOLS
• TENNIS COURTS
• COMMUNITY MARINA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $489k.

Deal economics

• At list price, monthly cash flow is $-2k ($-21k/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (64.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $383k (21.8% below list).
• Recommended offer: $176k (64.0% below list) — sets the bar for cash-flow.
• Cap rate 2.2% 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: Felix A Williams Elementary School (math 61% / reading 67%, grade B, #552 of 2,144 statewide, top 26%, 531 students, 40% 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) — zoned schools at 42% FRL track the district average.
• Market conditions: 252 active listings in the ZIP; 21 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 $3,825/mo this rent would consume 55% 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 $52k of equity ($3k loan paydown + $49k 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 ~$84k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($445k) is reasonable based on typical stale-listing flexibility.
• 5 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

• Watch-outs: flood insurance adds $122/mo; HOA is 34% of rent.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance); 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 $176,246 (64.0% 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 116 days. Have you received any prior offers? Is the seller open to a 64% 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. 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: 0.78% ✗
• Cap rate: 2.25%
• Cash-on-cash: -14.44%
• DSCR: 0.36
• GRM: 10.7

CMA / ARV

• ARV (median comp): $578,894
• List price: $489,000
• Delta: -15.53%
• 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: 13.6%
• Equity multiple: 2.13×
• Total profit: $154,489
• Equity at exit: $440,530

10-year hold

• IRR: 13.8%
• Equity multiple: 4.98×
• Total profit: $545,459
• Equity at exit: $950,019

Cash invested: $136,920 (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: 10.7×

Monthly cashflow live

• Estimated rent: $3,825 high
• Mortgage (P&I): −$2,564
• Tax from tax record: −$612 /mo · $7,343/yr
• Insurance: −$204
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$1,290
• Vacancy / Maint / Mgmt: −$803
• Net cashflow: $-1,770

Break-even live

Break-even rent $6,066

Max offer price $176,246

Occupancy floor —

Sensitivity live

Price	-10% $-1,494	-5% $-1,632	+0% $-1,770	+5% $-1,909	+10% $-2,047
Rent	-10% $-2,073	-5% $-1,922	+0% $-1,770	+5% $-1,619	+10% $-1,468
Rate	-1.0pp $-1,524	-0.5pp $-1,646	base $-1,770	+0.5pp $-1,897	+1.0pp $-2,026

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: $122,250
• Closing costs: $14,670
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2491 NE Ocean Blvd #302 Stuart, FL	2.0	2.0	1436	$3,250	$2.26	15d	1	0.02mi
2571 NE Ocean Blvd Stuart, FL	2.0	2.0	1354	$3,250	$2.40	25d	1	0.09mi
2375 NE Ocean Blvd Unit E402 Stuart, FL	2.0	2.0	1227	$3,500	$2.85	25d	1	0.13mi
2641 NE Ocean Blvd #405 Stuart, FL	2.0	2.0	1436	$7,000	$4.87	25d	1	0.16mi
4720 NE Sandpebble Trce #403 Stuart, FL	2.0	2.0	1032	$2,800	$2.71	25d	1	0.21mi
4620 NE Sandpebble Trce #104 Stuart, FL	2.0	2.0	1032	$2,200	$2.13	25d	1	0.23mi
2355 NE Ocean Blvd Unit 1-19B Stuart, FL	2.0	2.0	1197	$6,200	$5.18	25d	1	0.25mi
2355 NE Ocean Blvd Unit 1-20A Stuart, FL	1.0	1.0	937	$2,900	$3.09	25d	1	0.25mi
2355 NE Ocean Blvd Unit 1-7A Stuart, FL	1.0	1.0	937	$3,800	$4.06	25d	1	0.25mi
2051 NE Ocean Blvd Stuart, FL	2.0	2.0	1545	$3,250	$2.10	25d	2	0.35mi
2051 NE Ocean Blvd Unit C13 Stuart, FL	2.0	2.0	1545	$4,000	$2.59	15d	1	0.35mi
4540 NE Sandpebble Trce #104 Stuart, FL	2.0	2.0	1032	$2,400	$2.33	25d	1	0.37mi
3541 NE Ocean Blvd Jensen Beach, FL	2.0	2.0	1093	$3,575	$3.27	25d	2	0.45mi
4440 NE Sandpebble Trce #104 Stuart, FL	2.0	2.0	1032	$6,500	$6.30	25d	1	0.45mi
4440 NE Sandpebble Trce #201 Stuart, FL	2.0	2.0	1233	$6,000	$4.87	25d	1	0.45mi
1550 NE Ocean Blvd Stuart, FL	2.0	2.0	1101	$2,125	$1.93	25d	2	0.66mi
1501 NE Ocean Blvd #2 Stuart, FL	2.0	1.5	925	$4,300	$4.65	25d	1	0.89mi
1357 NE Ocean Blvd #312 Stuart, FL	2.0	2.0	1242	$5,500	$4.43	25d	1	1.00mi
1357 NE Ocean Blvd Stuart, FL	2.0	2.0	1204	$5,250	$4.36	23d	2	1.00mi
1289 NE Ocean Blvd Stuart, FL	2.0	2.0	1234	$5,700	$4.62	23d	5	1.09mi
3792 NE Ocean Blvd Jensen Beach, FL	2.0	2.0	1204	$3,000	$2.49	25d	2	1.32mi

HOA detail condo

• Monthly dues: $1,290 · $15,480/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-21
   days on market $489,000 Active 116 DOM
2. 2026-06-18
   days on market $489,000 Active 113 DOM
3. 2026-06-17
   days on market $489,000 Active 112 DOM
4. 2026-06-16
   days on market $489,000 Active 111 DOM
5. 2026-06-15
   days on market $489,000 Active 110 DOM
6. 2026-06-14
   days on market $489,000 Active 108 DOM
7. 2026-06-13
   days on market $489,000 Active 107 DOM
8. 2026-06-10
   days on market $489,000 Active 105 DOM
9. 2026-06-09
   days on market $489,000 Active 104 DOM
10. 2026-06-08
    days on market $489,000 Active 103 DOM
11. 2026-06-07
    days on market $489,000 Active 102 DOM
12. 2026-06-03
    days on market $489,000 Active 98 DOM
13. 2026-06-02
    days on market $489,000 Active 97 DOM
14. 2026-06-01
    days on market $489,000 Active 96 DOM
15. 2026-05-31
    days on market $489,000 Active 95 DOM
16. 2026-05-31
    days on market $489,000 Active 94 DOM
17. 2026-03-07
    price $489,000 941-char remark

    Show marketing remark (998 chars)

    Enjoy the flexibility to rent right away! A valuable advantage compared to other communities. Experience beachfront living in this 2 bedroom oceanfront corner condo offering a spacious, well designed floor plan with nearly 1,500 square feet of living space and partial ocean views, accompanied by the calming sounds of the waves. Generously sized rooms create a comfortable layout that feels open and livable throughout. The condo offers a wonderful opportunity to personalize and update to your own taste while enjoying an exceptional beach setting. A desirable corner location enhances natural light and privacy, making it easy to settle in and enjoy beach living at your own pace. This amenity-rich community features five swimming pools, including two oceanfront pools, tennis courts, clubhouse, community marina with boat slips available for lease, and a trailer/kayak storage lot. Ideal as a full time residence, vacation retreat, or investment, this condo offers a true beachfront lifestyle

18. 2026-03-07
    price $489,000 998-char remark

    Show marketing remark (998 chars)

    Enjoy the flexibility to rent right away! A valuable advantage compared to other communities. Experience beachfront living in this 2 bedroom oceanfront corner condo offering a spacious, well designed floor plan with nearly 1,500 square feet of living space and partial ocean views, accompanied by the calming sounds of the waves. Generously sized rooms create a comfortable layout that feels open and livable throughout. The condo offers a wonderful opportunity to personalize and update to your own taste while enjoying an exceptional beach setting. A desirable corner location enhances natural light and privacy, making it easy to settle in and enjoy beach living at your own pace. This amenity-rich community features five swimming pools, including two oceanfront pools, tennis courts, clubhouse, community marina with boat slips available for lease, and a trailer/kayak storage lot. Ideal as a full time residence, vacation retreat, or investment, this condo offers a true beachfront lifestyle

19. 2026-02-25
    listed $499,000 Active 941-char remark

    Show marketing remark (941 chars)

    Enjoy the flexibility to rent right away! A valuable advantage compared to other communities. Experience beachfront living in this 2 bedroom oceanfront corner condo offering a spacious, well designed floor plan with nearly 1,500 square feet of living space and partial ocean views, accompanied by the calming sounds of the waves. Generously sized rooms create a comfortable layout that feels open and livable throughout. The condo offers a wonderful opportunity to personalize and update to your own taste while enjoying an exceptional beach setting. A desirable corner location enhances natural light and privacy, making it easy to settle in and enjoy beach living at your own pace. This community features five swimming pools, tennis courts, clubhouse, community marina with boat slips for lease and a trailer/kayak storage lot. Ideal as a full time residence, vacation retreat, or investment, this condo offers a true beachfront lifestyle

20. 2026-01-25
    listed $499,000 Active 998-char remark

    Show marketing remark (998 chars)

    Enjoy the flexibility to rent right away! A valuable advantage compared to other communities. Experience beachfront living in this 2 bedroom oceanfront corner condo offering a spacious, well designed floor plan with nearly 1,500 square feet of living space and partial ocean views, accompanied by the calming sounds of the waves. Generously sized rooms create a comfortable layout that feels open and livable throughout. The condo offers a wonderful opportunity to personalize and update to your own taste while enjoying an exceptional beach setting. A desirable corner location enhances natural light and privacy, making it easy to settle in and enjoy beach living at your own pace. This amenity-rich community features five swimming pools, including two oceanfront pools, tennis courts, clubhouse, community marina with boat slips available for lease, and a trailer/kayak storage lot. Ideal as a full time residence, vacation retreat, or investment, this condo offers a true beachfront lifestyle

21. 2025-04-30
    historical
22. 2025-04-01
    price $579,000
23. 2025-03-12
    price $597,000
24. 2024-12-05
    listed $627,500 Active
25. 2023-03-21
    historical
26. 2023-03-20
    historical
27. 2023-01-28
    price $689,000
28. 2023-01-28
    price $689,000
29. 2022-06-07
    listed $747,500 Active
30. 2022-06-03
    listed $747,500 Active

ⓘ 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: $7,343 · $612/mo
• Projected year-2 tax: $7,343 · $612/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 9/10 Extreme FEMA zone AO · 99% 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: $45,903
• − Mortgage interest: −$27,392
• − Property taxes: −$7,343
• − Insurance: −$3,912
• − Repairs & maintenance: −$3,672
• − Management: −$3,672
• − HOA: −$15,480
• − Depreciation: −$14,225
• Taxable loss: −$29,795
• Est. tax savings @ 24.0%: +$7,151
• After-tax cash flow: $-14,094/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

-34.6% since first listed

14 events — show timeline

• 2026-03-07 Price Changed $489,000 Beaches MLS
• 2026-03-07 Price Changed $489,000 MCRTC
• 2026-02-25 Listed $499,000 Beaches MLS
• 2026-01-25 Listed $499,000 MCRTC
• 2025-04-30 Listing Removed — MCRTC
• 2025-04-01 Price Changed $579,000 MCRTC
• 2025-03-12 Price Changed $597,000 MCRTC
• 2024-12-05 Listed $627,500 MCRTC
• 2023-03-21 Listing Removed — Beaches MLS
• 2023-03-20 Listing Removed — MCRTC
• 2023-01-28 Price Changed $689,000 Beaches MLS
• 2023-01-28 Price Changed $689,000 MCRTC
• 2022-06-07 Listed $747,500 Beaches MLS
• 2022-06-03 Listed $747,500 MCRTC

Property tax history

+4.8%/yr

Latest (2025): $7,343 · -0.1% YoY. Source: county tax records.