2430 SE Penny Ln · Stuart, FL 34994

$90,000

2 bd · 2.0 ba · 1,080 sqft · Condo public records · 20 Days on market

Built 1975 $275/mo HOA · 12% of rent ↓ 33% since listing

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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
• 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

Key facts

• 5,011 sq ft lot
• Garage
• Community pool

Property features AI

Finance

• Other: Pets allowed with no restrictions
• HOA & community: Community association with clubhouse, pool, shuffleboard court and community room; Monthly association fee of $275 covering cable TV, water and common areas; Senior community

Exterior

• Parking: Attached and detached garage options; Carport (covered) with 1 carport space; Two covered parking spaces total; Total of 1 garage space
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Natural gas connected
• Home design: Manufactured home; One story; Resale property
• Construction: Aluminum siding with metal framing; Metal roof; Built on a single-level foundation
• Exterior features: Not waterfront; Faces east

Interior

• Kitchen: Kitchen equipped with dishwasher, electric range, microwave and refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Tile flooring; Wood flooring
• Bathrooms: Two full bathrooms (one on the main level)
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Dishwasher, Electric range, Microwave, Refrigerator; Tile and wood flooring
• Laundry & utility: Laundry area located in the garage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $911 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.4% 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.
• Zoned schools: Pinewood Elementary School (math 37% / reading 39%, grade F, #1,587 of 2,144 statewide, top 74%, 726 students, 64% FRL); Dr. David L. Anderson Middle School (math 51% / reading 46%, grade C-, #274 of 571 statewide, top 50%, 1,035 students, 63% FRL) — zoned schools average 64% FRL vs 41% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.7%/yr); 256 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).
• This rent runs 43% 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 $622 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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

• Climate carrying-cost: 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 $88,650 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.46% ✓
• Cap rate: 18.44%
• Cash-on-cash: 43.40%
• DSCR: 2.93
• GRM: 3.4

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: 36.4%
• Equity multiple: 2.47×
• Total profit: $37,129
• Equity at exit: $13,419

10-year hold

• IRR: 41.3%
• Equity multiple: 4.28×
• Total profit: $82,639
• Equity at exit: $7,782

Cash invested: $25,200 (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: 3.4×

Monthly cashflow live

• Estimated rent: $2,217 high
• Mortgage (P&I): −$472
• Tax from tax record: −$56 /mo · $671/yr
• Insurance: −$38
• HOA: −$275
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $911

Break-even live

Break-even rent $1,064

Max offer price $90,000

Occupancy floor 54%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
44 SE Sedona Cir #201 Stuart, FL	3.0	2.0	1443	$2,200	$1.52	23d	1	0.19mi
47 SE Sedona Cir #203 Stuart, FL	3.0	2.5	1450	$2,200	$1.52	23d	1	0.19mi
2600 S Kanner Hwy Stuart, FL	1.0–2.0	1.5–2.0	890	$1,950	$2.19	13d	3	0.26mi
345 SE Angler Dr Stuart, FL	3.0	2.5	1475	$2,650	$1.80	21d	1	0.40mi
85 SE Hancock St Stuart, FL	1.0–2.0	1.0–2.0	1278	$2,300	$1.80	13d	2	0.51mi
400 SE Central Pkwy Stuart, FL	1.0–2.0	1.0–2.0	918	$2,640	$2.87	13d	16	0.51mi
1900 S Kanner Hwy Unit 2-203 Stuart, FL	2.0	2.0	1086	$1,800	$1.66	13d	1	0.51mi
1950 SW Palm City Rd Stuart, FL	2.0	2.0	1031	$3,150	$3.05	23d	3	0.58mi
1950 SW Palm City Rd Unit 4-4205 Stuart, FL	2.0	2.0	938	$2,400	$2.56	13d	1	0.59mi
801 SE Central Pkwy #7 Stuart, FL	2.0	2.0	1046	$2,150	$2.06	13d	1	0.60mi
1871 SW Palm City Rd Unit G401 Stuart, FL	3.0	2.0	1289	$2,200	$1.71	23d	1	0.64mi
1868 SW Palm City Rd Apt 202 Stuart, FL	2.0	2.0	1191	$2,900	$2.43	23d	1	0.70mi
2118 SE Edler Dr Unit B Stuart, FL	2.0	2.0	876	$1,995	$2.28	23d	1	0.82mi
2124 SE Edler Dr Stuart, FL	2.0	2.0	876	$1,800	$2.05	23d	1	0.82mi
2104 SE Edler Dr Stuart, FL	1.0	1.0	726	$1,500	$2.07	23d	1	0.83mi
1215 SE Glenwood Dr Stuart, FL	2.0	2.0	1089	$1,859	$1.71	13d	10	0.91mi
3001 SE Aster Ln #908 Stuart, FL	2.0	2.0	1209	$2,100	$1.74	23d	1	0.93mi
2819 SW Cornell Ave Palm City, FL	2.0	1.5	1060	$2,150	$2.03	21d	1	0.93mi
3031 SE Aster Ln Unit 608 Stuart, FL	2.0	2.0	1019	$1,870	$1.84	23d	1	0.98mi
3151 SE Aster Ln #1306 Stuart, FL	2.0	2.0	1034	$1,800	$1.74	23d	1	0.99mi
950 S Kanner Hwy Stuart, FL	1.0–2.0	1.0–2.0	850	$2,000	$2.35	13d	4	1.05mi
950 S Kanner Hwy Stuart, FL	2.0	2.0	1019	$1,888	$1.85	21d	3	1.05mi
950 S Kanner Hwy Stuart, FL	1.0–2.0	1.0–2.5	1062	$2,000	$1.88	23d	5	1.05mi
1290 SE Parkview Pl Unit A2 Stuart, FL	2.0	2.0	1021	$1,800	$1.76	21d	1	1.09mi
2759 SE Birmingham Dr Stuart, FL	2.0	2.5	1191	$2,600	$2.18	23d	1	1.09mi
544 SW 35th St Palm City, FL	2.0	1.0	850	$1,850	$2.18	23d	1	1.12mi
3800 S Kanner Hwy Stuart, FL	3.0	1.0–2.0	970	$2,604	$2.68	13d	21	1.13mi
3236 SE Aster Ln Unit M225 Stuart, FL	2.0	2.0	1200	$2,500	$2.08	23d	1	1.13mi
3266 SE Aster Ln Unit H246 Stuart, FL	2.0	2.0	1200	$2,100	$1.75	23d	1	1.13mi
3302 SE Aster Ln Stuart, FL	2.0	2.0	888	$1,900	$2.14	23d	1	1.14mi
664 SW 35th St Unit 6 Palm City, FL	2.0	1.5	900	$1,850	$2.06	13d	1	1.17mi
664 SW 35th St Apt 3 Palm City, FL	2.0	1.5	900	$1,775	$1.97	13d	1	1.18mi
917 SE Nassau Ave Stuart, FL	2.0	1.0	832	$1,900	$2.28	21d	1	1.22mi
917 SE Nassau Ave Stuart, FL	2.0	1.0	832	$3,800	$4.57	23d	1	1.22mi
801 SE Central Ave Stuart, FL	3.0	1.0	899	$2,300	$2.56	13d	1	1.25mi
1571 SE Hampshire Way #104 Stuart, FL	3.0	2.0	1210	$2,500	$2.07	23d	1	1.31mi
701 SW Bryant Ave Stuart, FL	2.0	1.0	1295	$3,300	$2.55	13d	1	1.32mi
3405 SW Feroe Ave Palm City, FL	2.0	2.0	1275	$2,800	$2.20	23d	1	1.33mi
3375 SW Mapp Rd Unit 204 Palm City, FL	3.0	2.0	1067	$2,300	$2.16	23d	1	1.40mi
1485 SW Silver Pine Way Unit 107 B-2 Palm City, FL	1.0	1.0	830	$1,650	$1.99	23d	1	1.46mi

HOA detail condo

• Monthly dues: $275 · $3,300/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $90,000 Active 20 DOM
2. 2026-06-17
   days on market $90,000 Active 19 DOM
3. 2026-06-16
   days on market $90,000 Active 18 DOM
4. 2026-06-15
   days on market $90,000 Active 17 DOM
5. 2026-06-14
   days on market $90,000 Active 15 DOM
6. 2026-06-13
   days on market $90,000 Active 14 DOM
7. 2026-06-10
   days on market $90,000 Active 12 DOM
8. 2026-06-09
   days on market $90,000 Active 11 DOM
9. 2026-06-08
   days on market $90,000 Active 10 DOM
10. 2026-06-07
    days on market $90,000 Active 9 DOM
11. 2026-06-03
    days on market $90,000 Active 5 DOM
12. 2026-06-02
    days on market $90,000 Active 4 DOM
13. 2026-06-01
    days on market $90,000 Active 3 DOM
14. 2026-05-31
    days on market $90,000 Active 2 DOM
15. 2026-05-29
    listed $90,000 Active
16. 2022-01-24
    price $115,000
17. 2021-12-12
    listed $135,000 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: $671 · $56/mo
• Projected year-2 tax: $747 · $62/mo
• Expected delta: +$76/yr (+$6/mo · 11.4%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 14% 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,608
• − Mortgage interest: −$5,041
• − Property taxes: −$671
• − Insurance: −$450
• − Repairs & maintenance: −$2,129
• − Management: −$2,129
• − HOA: −$3,300
• − Depreciation: −$2,618
• Taxable income: $10,270
• Est. tax owed @ 24.0%: −$2,465
• After-tax cash flow: $8,471/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

• 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

-33.3% since first listed

3 events — show timeline

• 2026-05-29 Listed $90,000 Beaches MLS
• 2022-01-24 Price Changed $115,000 MCRTC
• 2021-12-12 Listed $135,000 MCRTC

Property tax history

+9.6%/yr

Latest (2025): $671 · -4.0% YoY. Source: county tax records.