16188 SW Indianwood Cir · Indiantown, FL 34956

$129,000

2 bd · 2.0 ba · 1,014 sqft · Condo public records · 13 Days on market

Built 2007 ↓ 28% since listing

---

Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Location! Pre-listing inspection available done 6/3/26. Gorgeous home overlooking the 11th tee & lake. Chocolate Bamboo & tile floors. Kitchen w/ golf course view, soft close cabinets, quartz countertops, newer SS stove w/ built in air fryer & microwave, SS refrigerator, dishwasher, elevated island w/ extra storage & pantry. French doors to screened porch w/ golf course & lake view. Office: built in desk, cabinets & plantation shutters. 2nd BR: white vertical blinds & closet w/ plenty of space. Main BR easily fits a king bed, lg closet, chocolate bamboo floor w/ bamboo molding & beautiful on suite bathroom: soaking tub, dbl sinks, separate sho

Key facts

• Quartz countertops
• Elevated island
• Golf course view

Tags

• GOLF COURSE VIEW
• SCREENED PORCH
• BUILT IN DESK
• SOFT CLOSE CABINETS
• QUARTZ COUNTERTOPS
• ELEVATED ISLAND

Property features AI

Finance

• Other: Pets allowed (number limit)
• Financial info: Land lease (monthly) applies
• HOA & community: Homeowners association; Senior community; Community amenities: clubhouse, pool, fitness center, library, game room, billiard room, kitchen facilities, bocce court, pickleball, tennis courts, shuffleboard, dog park, street lights, on-site property manager

Exterior

• Parking: Attached carport with two spaces; 4 total parking spaces (4 covered)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Generator hookup and generator present; 220 volt electrical
• Home design: Manufactured home; Single-story; Resale; Metal roof; Private road frontage; Waterfront: lake
• Construction: Manufactured construction; Metal roof
• Exterior features: Patio (open); Shed(s); Sprinkler/irrigation; Storm/security shutters; Lakefront; On golf course; Sprinklers automatic; Community pool; Has view

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Disposal; Icemaker; Refrigerator; Water softener
• Bedrooms: 3 possible bedrooms
• Flooring: Engineered hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: High ceilings; Entrance foyer; Kitchen island; Kitchen/dining combo; Pantry; Separate shower; Bathtub; Dual sinks; Walk-in closet(s); Shutters; Partially furnished
• Laundry & utility: Washer; Dryer; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $129k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Cap rate 16.2% vs local median 10.9% in Indiantown — 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 59/100 on livability (#829 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• 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: 135 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($892 loan paydown + $9k appreciation (6.7% local appreciation)).
• Martin County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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

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

Recommended offer $129,000

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.81% ✓
• Cap rate: 16.19%
• Cash-on-cash: 35.34%
• DSCR: 2.57
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.65% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 46.5%
• Equity multiple: 4.05×
• Total profit: $110,000
• Equity at exit: $86,463

10-year hold

• IRR: 42.9%
• Equity multiple: 8.46×
• Total profit: $269,321
• Equity at exit: $161,653

Cash invested: $36,120 (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 34956

• Home prices YoY: 1.2%
• Active inventory: 135
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,335 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$51 /mo · $608/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $1,064

Break-even live

Break-even rent $988

Max offer price $129,000

Occupancy floor 49%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15817 SW Winter Rd Indiantown, FL	3.0	2.5	1428	$2,300	$1.61	13d	1	0.82mi
15760 SW Hammock Way Indiantown, FL	3.0–4.0	2.0–3.5	1918	$2,420	$1.26	1d	41	1.49mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $129,000 Active 13 DOM
2. 2026-06-17
   days on market $129,000 Active 12 DOM
3. 2026-06-16
   days on market $129,000 Active 11 DOM
4. 2026-06-15
   days on market $129,000 Active 10 DOM
5. 2026-06-14
   days on market $129,000 Active 8 DOM
6. 2026-06-13
   pricedays on market $129,000 Active 7 DOM
7. 2026-06-10
   days on market $134,900 Active 5 DOM
8. 2026-06-09
   days on market $134,900 Active 4 DOM
9. 2026-06-08
   days on market $134,900 Active 3 DOM
10. 2026-06-07
    remarks 667-char remark
11. 2026-06-07
    listed $134,900 Active 2 DOM

ⓘ 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: $608 · $51/mo
• Projected year-2 tax: $1,071 · $89/mo
• Expected delta: +$463/yr (+$39/mo · 76.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,017
• − Mortgage interest: −$7,226
• − Property taxes: −$608
• − Insurance: −$645
• − Repairs & maintenance: −$2,241
• − Management: −$2,241
• − Depreciation: −$3,753
• Taxable income: $11,303
• Est. tax owed @ 24.0%: −$2,713
• After-tax cash flow: $10,050/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 — Indiantown

• Score: 59/100
• State rank: #829
• US rank: #20298

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indiantown, FL
• Population (ZIP): 9,639

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Hispanic / Latino 49% Black 24% White 24% Two or more races 16% Native American 5% Asian 1%
• Hispanic origin (detail): Mexican 21% Puerto Rican 4% Cuban 1%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 22% · Canada
• Languages at home: 55% English-only · Spanish 42%

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: ▲ 6.65%
• Current HPI: 561.896
• Rent YoY: —
• Metro: —
• 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

-28.2% since first listed

4 events — show timeline

• 2026-06-04 Listed $134,900 MCRTC
• 2025-05-12 Price Changed $149,000 MCRTC
• 2025-03-23 Price Changed $179,000 MCRTC
• 2025-01-08 Listed $187,900 MCRTC

Property tax history

-1.1%/yr

Latest (2024): $608 · +4.4% YoY. Source: county tax records.