5706 SE Riverboat Dr #202 · Port Salerno, FL 34997

$230,000

2 bd · 2.5 ba · 1,288 sqft · Townhouse · 9 Days on market

Built 1980 1,302 sqft lot Est $232k · at est. $417/mo HOA · 17% 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 +11.4/30.0
• ARV discount +7.9/15.0
• 1% rule +5.6/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• DSCR +3.3/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Light and bright 2 bed, 2.5 bath townhouse in desirable River Pines community in Stuart. Corner end unit offers privacy, no rear neighbors, and peaceful natural surroundings. Updated kitchen features granite countertops, stainless steel appliances, and ample cabinet space, ideal for everyday living and entertaining. Hardwood flooring throughout. Fully fenced private patio with outdoor storage shed and two walk-out balconies. River Pines offers resort style amenities including two swimming pools, tennis, and pickleball courts, plus a private boardwalk to the water. Located near top-rated schools, shopping, dining, and just minutes from beaches and downtown Stuart. Schedule your private tour

Key facts

• Private boardwalk
• Updated kitchen
• Outdoor storage shed

Tags

• UPDATED KITCHEN
• FULLY FENCED PRIVATE PATIO
• OUTDOOR STORAGE SHED
• TWO WALK-OUT BALCONIES
• RESORT STYLE AMENITIES
• PRIVATE BOARDWALK

Property features AI

Finance

• Financial info: Pets allowed (cats and dogs allowed; number limits apply)
• HOA & community: River Pines Homeowners Association; Monthly HOA fee; Association amenities include beach access, pool, fishing pier, parking, handball, pickleball courts, and street lights; HOA fee includes cable TV, insurance, maintenance of structure, trash, common areas, common real estate tax, reserve funds, roof repairs, and pool service

Exterior

• Parking: Assigned and guest parking on asphalt; 2 open parking spaces (2 total parking)
• Utilities: Public water; Public sewer; Water and sewer available
• Home design: Townhouse; Two stories; Resale property; Facing west; East of US-1 frontage
• Construction: Stucco and CBS construction; Block foundation; Flat and mansard roof
• Exterior features: Open patio/terrace; Patio; Shed(s); Fenced yard with wood fencing; Sidewalks; Paved road

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Garbage disposal; Electric water heater
• Bedrooms: No main-level bedrooms (upper-level bedrooms present)
• Flooring: Carpet; Laminate; Tile; Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Walk-in closets; Upstairs living area; Blinds and drapes
• Laundry & utility: In-unit laundry; Washer hookup; Electric dryer hookup; Laundry closet; Laundry located on main level and in bathroom

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $230k.

Deal economics

• At list price, monthly cash flow is $-79 ($-951/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (5.0% below list).
• Meets the 1% rule at list price ($2k rent vs $230k).
• Recommended offer: $219k (5.0% below list) — sets the bar for cash-flow.
• Cap rate 5.9% vs local median 3.2% in Port Salerno — 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 70/100 on livability (#440 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, health & safety A; Watch: 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.
• Zoned schools: Murray Middle School (math 45% / reading 43%, grade D, #327 of 571 statewide, top 57%, 616 students, 69% FRL); South Fork High School (math 36% / reading 48%, grade F, #275 of 667 statewide, top 42%, 1,810 students, 51% FRL) — zoned schools average 60% FRL vs 41% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.7%/yr); 595 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); solid renter incomes; 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).
• This rent runs 37% of the median local income ($78k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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

• 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 $218,532 (5.0% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 1.06% ✓
• Cap rate: 5.88%
• Cash-on-cash: -1.48%
• DSCR: 0.93
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $231,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5802 SE Riverboat Dr #301	0.09mi	2/2.5	1,288 (0%)	1mo	$220,000	$171	95
5805 SE Riverboat Dr #407	0.13mi	2/2.5	1,288 (0%)	2mo	$260,000	$202	92
6061 SE Riverboat Dr #825	0.36mi	2/2.5	1,288 (0%)	1mo	$270,000	$210	82
6068 SE Riverboat Dr #728	0.42mi	2/2.5	1,288 (0%)	2mo	$249,000	$193	79
5335 SE Miles Grant Rd Unit H 209	0.32mi	2/2.0	1,250 (-3%)	2mo	$220,000	$176	76
5363 SE Miles Grant Rd #106	0.36mi	2/2.0	1,250 (-3%)	0mo	$225,000	$180	76
6158 SE Riverboat Dr	0.52mi	2/2.5	1,288 (0%)	1mo	$221,000	$172	75
5335 SE Miles Grant Rd #214	0.33mi	2/2.0	1,186 (-8%)	1mo	$140,000	$118	69
5403 SE Miles Grant Rd #209	0.43mi	2/2.0	1,186 (-8%)	1mo	$488,000	$411	64
5403 SE Miles Grant Rd Unit H111	0.43mi	2/2.0	1,186 (-8%)	2mo	$210,000	$177	63
5303 SE Miles Grant Rd Unit L101	0.40mi	1/2.0 (-1)	1,186 (-8%)	2mo	$145,000	$122	60
5413 SE Miles Grant Rd #205	0.44mi	3/2.0 (+1)	1,460 (+13%)	1mo	$278,000	$190	49

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 · 2.71% rent growth · sell at horizon

5-year hold

• IRR: -19.0%
• Equity multiple: 0.34×
• Total profit: $-42,734
• Equity at exit: $34,294

10-year hold

• IRR: -12.0%
• Equity multiple: 0.29×
• Total profit: $-45,416
• Equity at exit: $19,886

Cash invested: $64,400 (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 34997

• Rents YoY: 2.7%
• Active inventory: 595
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,440 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• HOA: −$417
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $-79

Break-even live

Break-even rent $2,540

Max offer price $218,532

Occupancy floor 98%

Sensitivity live

Price	-10% $80	-5% $0	+0% $-79	+5% $-159	+10% $-238
Rent	-10% $-272	-5% $-176	+0% $-79	+5% $17	+10% $113
Rate	-1.0pp $37	-0.5pp $-21	base $-79	+0.5pp $-139	+1.0pp $-199

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5674 SE Riverboat Dr #131 Stuart, FL	2.0	2.5	1288	$2,400	$1.86	23d	1	0.10mi
5674 SE Riverboat Dr #131 Stuart, FL	2.0	2.5	1288	$2,600	$2.02	25d	1	0.10mi
6003 SE Riverboat Dr #802 Stuart, FL	2.0	2.5	1288	$2,200	$1.71	25d	1	0.33mi
5403 SE Miles Grant Rd Stuart, FL	2.0	2.0	1186	$1,750	$1.48	25d	2	0.46mi
6021 SE Landing Way #2 Stuart, FL	2.0	2.0	1135	$2,500	$2.20	25d	1	0.51mi
6146 SE Riverboat Dr #918 Stuart, FL	2.0	2.5	1288	$1,950	$1.51	25d	1	0.52mi
4621 SE Shady Ridge Ln Stuart, FL	2.0	1.0	1660	$2,100	$1.27	15d	1	0.55mi
6082 SE Landing Way #7 Stuart, FL	2.0	2.0	1135	$3,000	$2.64	25d	1	0.55mi
6142 SE Landing Way Unit 9-11 Stuart, FL	2.0	2.0	1135	$3,500	$3.08	25d	1	0.61mi
6102 SE Landing Way #13 Stuart, FL	3.0	2.0	1590	$2,000	$1.26	25d	1	0.64mi
5359 SE Dell St Stuart, FL	3.0	2.0	1272	$2,800	$2.20	25d	1	0.66mi
6142 SE Landing Way #16 Stuart, FL	2.0	2.0	1590	$3,750	$2.36	25d	1	0.73mi
5636 SE Foxcross Pl Stuart, FL	2.0	2.0	1598	$9,000	$5.63	15d	1	0.74mi
5795 SE Mitzi Ln Stuart, FL	3.0	2.0	1315	$3,000	$2.28	25d	1	0.76mi
4885 SE Capstan Ave #27 Stuart, FL	2.0	2.0	1273	$2,500	$1.96	25d	1	0.84mi
4650 SE Manatee Way Stuart, FL	3.0	2.5	1764	$5,900	$3.34	25d	1	0.91mi
4606 SE Binnacle Way Unit 1 Stuart, FL	2.0	1.0	928	$1,850	$1.99	15d	1	0.93mi
4710 SE Glenridge Trl Stuart, FL	3.0	2.0	1442	$3,300	$2.29	15d	1	1.06mi
4939 SE Salvatori Rd Stuart, FL	3.0	2.0	1334	$2,500	$1.87	25d	1	1.22mi
5280 SE Seascape Way #101 Stuart, FL	3.0	3.0	1561	$2,500	$1.60	15d	1	1.25mi
5300 SE Schooner Oaks Way Stuart, FL	3.0	2.0	1600	$3,700	$2.31	25d	1	1.35mi
5152 SE Club Way #104 Stuart, FL	2.0	2.0	1358	$7,500	$5.52	15d	1	1.37mi
5881 SE Windsong Ln Stuart, FL	2.0	2.5	1288	$2,100	$1.63	15d	1	1.40mi
4421 SE Village Rd Stuart, FL	2.0	2.0	1080	$2,100	$1.94	25d	1	1.42mi
6531 SE Federal Hwy Stuart, FL	2.0	2.0	1100	$1,725	$1.57	15d	2	1.42mi
4107 SE Barcelona St Stuart, FL	2.0	1.0	1224	$2,500	$2.04	25d	1	1.43mi
6535 SE Federal Hwy Stuart, FL	2.0	2.0	967	$1,750	$1.81	25d	1	1.47mi
6551 SE Federal Hwy Stuart, FL	2.0	2.0	969	$1,825	$1.88	23d	2	1.49mi
6551 SE Federal Hwy #104 Stuart, FL	2.0	2.0	969	$2,000	$2.06	15d	1	1.49mi
6537 SE Federal Hwy #102 Stuart, FL	2.0	2.0	969	$1,845	$1.90	15d	1	1.49mi

HOA detail

• Monthly dues: $417 · $5,004/yr
• Likely covers: waterpool

Listing history 7 events

1. 2026-06-21
   days on market $230,000 Active 9 DOM
2. 2026-06-18
   days on market $230,000 Active 6 DOM
3. 2026-06-17
   days on market $230,000 Active 5 DOM
4. 2026-06-16
   days on market $230,000 Active 4 DOM
5. 2026-06-15
   days on market $230,000 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $230,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $29,274
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,342
• − Management: −$2,342
• − HOA: −$5,004
• − Depreciation: −$6,691
• Taxable loss: −$4,588
• Est. tax savings @ 24.0%: +$1,101
• After-tax cash flow: $150/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 — Port Salerno

• Score: 70/100
• State rank: #440
• US rank: #7873

Category grades

Amenities F Commute F Cost of living B Crime A 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
• Metro: Port St. Lucie, FL
• Population (ZIP): 47,075
• Household income: $78,136
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 1323.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 19% Two or more races 9% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 14% French/Haitian/Cajun 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: ▼ -319.78%
• Current HPI: 336.7717
• Rent YoY: ▲ 2.71%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-12 Listed $230,000 Beaches MLS
• 2016-06-26 Listing Removed — MCRTC
• 2005-10-14 Listed $229,900 MCRTC