1357 NE Ocean Blvd #214 · Sewall's Point, FL 34996

$349,000

2 bd · 2.0 ba · 1,720 sqft · Condo public records · 200 Days on market

Built 1975 $203/sqft · 23% below area Est $452k · 23% under $1221/mo HOA · 43% of rent ↓ 18% 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 +15.0/15.0
• Appreciation +10.0/10.0
• Schools +4.5/10.0
• 1% rule +3.2/10.0
• Cash flow +3.1/30.0
• 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

Welcome to Suntide! This oceanfront community has been fully transformed, with all milestone-inspection–related work completed. This spacious fully furnished, 2-bedroom, 2-bath residence features one of the largest floor plans in the complex, plus a dedicated area with a Murphy bed to comfortably accommodate additional guests. Both oversized bedrooms include large walk-in closets, and the bathrooms have been tastefully reimagined with modern finishes. The bright kitchen offers white cabinetry and a contemporary backsplash, new washer & dryer & 2023 AC. The enclosed balcony provides partial ocean views, perfect for relaxing and enjoying the coastal breeze. Additional conveniences include under-building parking, extra storage, and a wealth of community amenities: pool, tennis, clubhouse, and more. Move-in ready and beautifully updated—experience the best of Suntide living!

Key facts

• Enclosed balcony
• Modern finishes
• White cabinetry

Tags

• DEDICATED AREA WITH MURPHY BED
• LARGE WALK-IN CLOSETS
• MODERN FINISHES
• WHITE CABINETRY
• CONTEMPORARY BACKSPLASH
• ENCLOSED BALCONY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $349k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (56.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $287k (17.8% below list).
• Recommended offer: $151k (56.8% below list) — sets the bar for cash-flow.
• Cap rate 2.4% 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; 37 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).

Forward outlook

• In year one you build about $37k of equity ($2k loan paydown + $35k 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 ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($307k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y ago; this cycle's ask has dropped $31k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $140k; list at $349k implies a 149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent.
• Climate carrying-cost: 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 $150,675 (56.8% 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 200 days. Have you received any prior offers? Is the seller open to a 57% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.82% ✗
• Cap rate: 2.43%
• Cash-on-cash: -13.79%
• DSCR: 0.39
• GRM: 10.1

CMA / ARV

• ARV (median comp): $451,733
• List price: $349,000
• Delta: -22.74%
• 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: 14.8%
• Equity multiple: 2.22×
• Total profit: $119,214
• Equity at exit: $314,407

10-year hold

• IRR: 14.6%
• Equity multiple: 5.18×
• Total profit: $408,575
• Equity at exit: $678,030

Cash invested: $97,720 (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: 10.1×

Monthly cashflow live

• Estimated rent: $2,868 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$192 /mo · $2,300/yr
• Insurance: −$145
• HOA: −$1,221
• Vacancy / Maint / Mgmt: −$602
• Net cashflow: $-1,123

Break-even live

Break-even rent $4,289

Max offer price $150,675

Occupancy floor —

Sensitivity live

Price	-10% $-925	-5% $-1,024	+0% $-1,123	+5% $-1,221	+10% $-1,320
Rent	-10% $-1,349	-5% $-1,236	+0% $-1,123	+5% $-1,009	+10% $-896
Rate	-1.0pp $-947	-0.5pp $-1,034	base $-1,123	+0.5pp $-1,213	+1.0pp $-1,305

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1357 NE Ocean Blvd #312 Stuart, FL	2.0	2.0	1242	$5,500	$4.43	25d	1	0.00mi
1357 NE Ocean Blvd Stuart, FL	2.0	2.0	1204	$5,250	$4.36	23d	2	0.01mi
1289 NE Ocean Blvd Stuart, FL	2.0	2.0	1234	$5,700	$4.62	23d	5	0.10mi
1550 NE Ocean Blvd Stuart, FL	2.0	2.0	1101	$2,125	$1.93	25d	2	0.36mi
2051 NE Ocean Blvd Unit C13 Stuart, FL	2.0	2.0	1545	$4,000	$2.59	15d	1	0.64mi
2051 NE Ocean Blvd Stuart, FL	2.0	2.0	1545	$3,250	$2.10	25d	2	0.65mi
669 NE Plantation Rd Stuart, FL	2.0	2.0	1400	$8,250	$5.89	25d	2	0.71mi
2355 NE Ocean Blvd Unit 1-19B Stuart, FL	2.0	2.0	1197	$6,200	$5.18	25d	1	0.74mi
5564 NE Gulfstream Way Stuart, FL	2.0	2.0	1100	$5,000	$4.55	25d	1	0.74mi
579 NE Plantation Rd Unit 301-N Stuart, FL	3.0	2.0	1565	$8,500	$5.43	25d	1	0.77mi
324 Golfview Cir #324 Stuart, FL	3.0	3.0	1150	$7,000	$6.09	25d	1	0.86mi
391 NE Plantation Rd #226 Stuart, FL	2.0	2.0	1300	$4,500	$3.46	25d	1	0.88mi
391 NE Plantation Rd #228 Stuart, FL	2.0	2.0	1274	$2,200	$1.73	25d	1	0.88mi
391 NE Plantation Rd #215 Stuart, FL	2.0	2.0	1253	$4,000	$3.19	25d	1	0.88mi
310 Golfview Cir Unit 310 Stuart, FL	3.0	3.0	1150	$2,000	$1.74	15d	1	0.89mi
2375 NE Ocean Blvd Unit E402 Stuart, FL	2.0	2.0	1227	$3,500	$2.85	25d	1	0.90mi
411 NE Plantation Rd #526 Stuart, FL	2.0	2.0	1274	$6,000	$4.71	25d	1	0.91mi
411 NE Plantation Rd #511 Stuart, FL	2.0	2.0	1253	$7,500	$5.99	25d	1	0.91mi
316 NE Edgewater Dr Stuart, FL	2.0	2.0	1912	$6,000	$3.14	25d	1	0.93mi
271 NE Edgewater Dr #271 Stuart, FL	3.0	3.0	1437	$8,000	$5.57	25d	1	0.94mi
233 NE Edgewater Dr Stuart, FL	2.0–3.0	2.0–3.0	1534	$2,200	$1.43	25d	3	0.98mi
185 NE Edgewater Dr #5105 Stuart, FL	2.0	2.0	1366	$6,500	$4.76	25d	1	1.01mi
2491 NE Ocean Blvd #302 Stuart, FL	2.0	2.0	1436	$3,250	$2.26	15d	1	1.02mi
184 NE Edgewater Dr #1206 Stuart, FL	3.0	2.5	1950	$3,900	$2.00	25d	1	1.04mi
221 NE Plantation Rd Stuart, FL	2.0	2.0	1296	$4,350	$3.36	25d	3	1.05mi
245 NE MacArthur Blvd Stuart, FL	2.0	2.5	1310	$7,750	$5.92	25d	2	1.06mi
2571 NE Ocean Blvd Stuart, FL	2.0	2.0	1354	$3,250	$2.40	25d	1	1.08mi
144 NE Edgewater Dr #3102 Stuart, FL	3.0	2.0	1735	$2,400	$1.38	25d	1	1.09mi
20 NE Plantation Rd #306 Stuart, FL	2.0	2.0	1306	$3,500	$2.68	25d	1	1.14mi
20 NE Plantation Rd #205 Stuart, FL	2.0	2.0	1306	$2,900	$2.22	25d	1	1.14mi
2641 NE Ocean Blvd #405 Stuart, FL	2.0	2.0	1436	$7,000	$4.87	25d	1	1.15mi
5799 NE Island Cove Way #1104 Stuart, FL	3.0	3.0	2105	$12,000	$5.70	25d	1	1.16mi
5799 NE Island Cove Way Unit 1546190P Stuart, FL	2.0	2.0	1270	$2,029	$1.60	15d	1	1.16mi
5750 NE Island Cove Way #3302 Stuart, FL	2.0	2.0	1204	$2,450	$2.03	15d	1	1.17mi
5800 NE Island Cove Way #2207 Stuart, FL	2.0	2.0	1204	$3,500	$2.91	25d	1	1.17mi
4440 NE Sandpebble Trce #201 Stuart, FL	2.0	2.0	1233	$6,000	$4.87	25d	1	1.35mi
3541 NE Ocean Blvd Jensen Beach, FL	2.0	2.0	1093	$3,575	$3.27	25d	2	1.38mi

HOA detail condo

• Monthly dues: $1,221 · $14,652/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-21
   days on market $349,000 Active 200 DOM
2. 2026-06-18
   days on market $349,000 Active 197 DOM
3. 2026-06-17
   days on market $349,000 Active 196 DOM
4. 2026-06-16
   days on market $349,000 Active 195 DOM
5. 2026-06-15
   days on market $349,000 Active 194 DOM
6. 2026-06-14
   days on market $349,000 Active 192 DOM
7. 2026-06-13
   days on market $349,000 Active 191 DOM
8. 2026-06-10
   days on market $349,000 Active 189 DOM
9. 2026-06-09
   days on market $349,000 Active 188 DOM
10. 2026-06-08
    days on market $349,000 Active 187 DOM
11. 2026-06-07
    statusdays on market $349,000 Active 186 DOM
12. 2026-06-03
    days on market $349,000 Active Under Contract 182 DOM
13. 2026-06-02
    days on market $349,000 Active Under Contract 181 DOM
14. 2026-06-01
    days on market $349,000 Active Under Contract 180 DOM
15. 2026-05-31
    days on market $349,000 Active Under Contract 179 DOM
16. 2026-05-31
    days on market $349,000 Active Under Contract 178 DOM
17. 2026-04-09
    price $349,000 907-char remark

    Show marketing remark (907 chars)

    Welcome to Suntide! This oceanfront community has been fully transformed, with all milestone-inspection–related work completed. This spacious fully furnished, 2-bedroom, 2-bath residence features one of the largest floor plans in the complex, plus a dedicated area with a Murphy bed to comfortably accommodate additional guests. Both oversized bedrooms include large walk-in closets, and the bathrooms have been tastefully reimagined with modern finishes. The bright kitchen offers white cabinetry and a contemporary backsplash, new washer & dryer & 2023 AC. The enclosed balcony provides partial ocean views, perfect for relaxing and enjoying the coastal breeze. Additional conveniences include under-building parking, extra storage, and a wealth of community amenities: pool, tennis, clubhouse, and more. Move-in ready and beautifully updated—experience the best of Suntide living!

18. 2026-02-14
    price $369,900 907-char remark

    Show marketing remark (907 chars)

    Welcome to Suntide! This oceanfront community has been fully transformed, with all milestone-inspection–related work completed. This spacious fully furnished, 2-bedroom, 2-bath residence features one of the largest floor plans in the complex, plus a dedicated area with a Murphy bed to comfortably accommodate additional guests. Both oversized bedrooms include large walk-in closets, and the bathrooms have been tastefully reimagined with modern finishes. The bright kitchen offers white cabinetry and a contemporary backsplash, new washer & dryer & 2023 AC. The enclosed balcony provides partial ocean views, perfect for relaxing and enjoying the coastal breeze. Additional conveniences include under-building parking, extra storage, and a wealth of community amenities: pool, tennis, clubhouse, and more. Move-in ready and beautifully updated—experience the best of Suntide living!

19. 2025-12-03
    listed $380,000 Active 907-char remark

    Show marketing remark (907 chars)

    Welcome to Suntide! This oceanfront community has been fully transformed, with all milestone-inspection–related work completed. This spacious fully furnished, 2-bedroom, 2-bath residence features one of the largest floor plans in the complex, plus a dedicated area with a Murphy bed to comfortably accommodate additional guests. Both oversized bedrooms include large walk-in closets, and the bathrooms have been tastefully reimagined with modern finishes. The bright kitchen offers white cabinetry and a contemporary backsplash, new washer & dryer & 2023 AC. The enclosed balcony provides partial ocean views, perfect for relaxing and enjoying the coastal breeze. Additional conveniences include under-building parking, extra storage, and a wealth of community amenities: pool, tennis, clubhouse, and more. Move-in ready and beautifully updated—experience the best of Suntide living!

20. 2025-09-27
    historical
21. 2025-09-19
    price $385,000
22. 2025-09-02
    price $389,000
23. 2025-06-09
    price $450,000
24. 2025-03-25
    listed $499,000 Active
25. 2024-06-11
    historical
26. 2024-02-07
    listed $635,000 Active
27. 2024-02-05
    historical
28. 2016-06-26
    historical
29. 2016-01-11
    price $140,000
30. 2015-07-01
    historical
31. 2014-12-22
    listed $249,000
32. 2011-04-01
    soldstatus $140,000
33. 2011-03-30
    price $189,000
34. 2011-03-30
    soldstatus $140,000
35. 2010-11-01
    listed $189,000
36. 2008-09-12
    listed $279,900
37. 2008-07-30
    historical
38. 2007-01-15
    listed $329,000
39. 2007-01-08
    historical
40. 2006-07-12
    listed $424,900

ⓘ 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: $2,300 · $192/mo
• Projected year-2 tax: $2,897 · $241/mo
• Expected delta: +$597/yr (+$50/mo · 25.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $34,414
• − Mortgage interest: −$19,549
• − Property taxes: −$2,300
• − Insurance: −$1,745
• − Repairs & maintenance: −$2,753
• − Management: −$2,753
• − HOA: −$14,652
• − Depreciation: −$10,153
• Taxable loss: −$19,491
• Est. tax savings @ 24.0%: +$4,678
• After-tax cash flow: $-8,794/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

-17.9% since first listed

24 events — show timeline

• 2026-04-09 Price Changed $349,000 MCRTC
• 2026-02-14 Price Changed $369,900 MCRTC
• 2025-12-03 Listed $380,000 MCRTC
• 2025-09-27 Listing Removed — Beaches MLS
• 2025-09-19 Price Changed $385,000 Beaches MLS
• 2025-09-02 Price Changed $389,000 Beaches MLS
• 2025-06-09 Price Changed $450,000 Beaches MLS
• 2025-03-25 Listed $499,000 Beaches MLS
• 2024-06-11 Listing Removed — MCRTC
• 2024-02-07 Listed $635,000 MCRTC
• 2024-02-05 Coming Soon — MCRTC
• 2016-06-26 Listing Removed — MCRTC
• 2016-01-11 Price Changed $140,000 MCRTC
• 2015-07-01 Listing Removed — MCRTC
• 2014-12-22 Listed $249,000 MCRTC
• 2011-04-01 Sold (Public Records) $140,000 Public Records
• 2011-03-30 Sold (MLS) $140,000 MCRTC
• 2011-03-30 Price Changed $189,000 MCRTC
• 2010-11-01 Listed $189,000 MCRTC
• 2008-09-12 Listed $279,900 MCRTC
• 2008-07-30 Listing Removed — MCRTC
• 2007-01-15 Listed $329,000 MCRTC
• 2007-01-08 Listing Removed — MCRTC
• 2006-07-12 Listed $424,900 MCRTC

Property tax history

+1.5%/yr

Latest (2025): $2,300 · -0.9% YoY. Source: county tax records.