2929 SE Ocean Blvd Unit 117-10 · Stuart, FL 34996

$178,000

2 bd · 2.0 ba · 992 sqft · Condo public records · 316 Days on market

Built 1971 $179/sqft · 17% above area Est $152k · 17% over $605/mo HOA · 23% of rent

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Why this score? — see what drove the C+ 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 +23.0/30.0
• Appreciation +10.0/10.0
• 1% rule +9.5/10.0
• DSCR +7.4/10.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Beautifully updated 2BD/2BA corner residence featuring impact windows and a sleek impact-rated front door. This light-filled home is truly move-in ready with new vinyl flooring, modern ceiling fans, and refreshed bathroom finishes throughout. Enjoy your private Florida room/balcony with peaceful green space views, perfect for morning coffee or evening unwinding. Additional highlights include a large private storage unit and convenient laundry located on the same floor. Just steps from the sparkling pool and active 55+ clubhouse. The condo association covers cable, water, sewer, roof, insurance, and landscaping. No leasing permitted during the first two years of ownership. Ideally located near Downtown Stuart and the beaches.

Key facts

• Convenient laundry
• Vibrant clubhouse
• Impact front door

Tags

• IMPACT WINDOWS
• IMPACT FRONT DOOR
• PRIVATE FLORIDA ROOM
• SPACIOUS PERSONAL STORAGE UNIT
• CONVENIENT LAUNDRY
• VIBRANT CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $178k.

Deal economics

• At list price, monthly cash flow is $317 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $178k).
• Recommended offer: $157k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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.
• Market conditions: 251 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Martin County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 316 days — a 12% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 4 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

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 8→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $156,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 316 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.45% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.64%
• DSCR: 1.34
• GRM: 5.7

CMA / ARV

• ARV (median comp): $152,338
• List price: $178,000
• Delta: 16.85%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.9%
• Equity multiple: 3.36×
• Total profit: $117,488
• Equity at exit: $160,357

10-year hold

• IRR: 26.0%
• Equity multiple: 7.64×
• Total profit: $330,783
• Equity at exit: $345,815

Cash invested: $49,840 (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: 251
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,588 high
• Mortgage (P&I): −$933
• Tax from tax record: −$115 /mo · $1,380/yr
• Insurance: −$74
• HOA: −$605
• Vacancy / Maint / Mgmt: −$544
• Net cashflow: $317

Break-even live

Break-even rent $2,187

Max offer price $178,000

Occupancy floor 83%

Sensitivity live

Price	-10% $418	-5% $368	+0% $317	+5% $267	+10% $216
Rent	-10% $113	-5% $215	+0% $317	+5% $419	+10% $522
Rate	-1.0pp $407	-0.5pp $362	base $317	+0.5pp $271	+1.0pp $224

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: $44,500
• Closing costs: $5,340
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2929 SE Ocean Blvd Unit 130 Stuart, FL	2.0	2.0	1005	$1,800	$1.79	24d	1	0.07mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	14d	8	0.16mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	24d	6	0.16mi
300 SE Saint Lucie Blvd Stuart, FL	1.0–3.0	1.0–2.0	884	$2,258	$2.55	14d	12	0.22mi
262 SE Monterey Ave Stuart, FL	3.0	1.0	1001	$3,500	$3.50	24d	1	0.31mi
2600 SE Ocean Blvd Stuart, FL	1.0–2.0	1.5–2.0	951	$1,900	$2.00	14d	3	0.32mi
2950 SE Ocean Blvd Stuart, FL	2.0	2.0	1157	$1,800	$1.56	14d	3	0.38mi
333 SE Martin Ave Unit 1F Stuart, FL	2.0	1.0	778	$1,800	$2.31	24d	1	0.55mi
1800 SE Saint Lucie Blvd Stuart, FL	2.0	2.0	1044	$2,600	$2.49	24d	3	1.17mi

HOA detail condo

• Monthly dues: $605 · $7,260/yr
• Likely covers: watersewercablelandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $178,000 Active 316 DOM
2. 2026-06-17
   days on market $178,000 Active 315 DOM
3. 2026-06-16
   days on market $178,000 Active 314 DOM
4. 2026-06-15
   days on market $178,000 Active 313 DOM
5. 2026-06-14
   days on market $178,000 Active 311 DOM
6. 2026-06-13
   days on market $178,000 Active 310 DOM
7. 2026-06-10
   days on market $178,000 Active 308 DOM
8. 2026-06-09
   days on market $178,000 Active 307 DOM
9. 2026-06-08
   days on market $178,000 Active 306 DOM
10. 2026-06-07
    days on market $178,000 Active 305 DOM
11. 2026-06-03
    days on market $178,000 Active 301 DOM
12. 2026-06-02
    days on market $178,000 Active 300 DOM
13. 2026-06-01
    days on market $178,000 Active 299 DOM
14. 2026-05-31
    days on market $178,000 Active 298 DOM
15. 2026-05-31
    days on market $178,000 Active 297 DOM
16. 2025-08-27
    price $178,000 734-char remark

    Show marketing remark (734 chars)

    Beautifully updated 2BD/2BA corner residence featuring impact windows and a sleek impact-rated front door. This light-filled home is truly move-in ready with new vinyl flooring, modern ceiling fans, and refreshed bathroom finishes throughout. Enjoy your private Florida room/balcony with peaceful green space views, perfect for morning coffee or evening unwinding. Additional highlights include a large private storage unit and convenient laundry located on the same floor. Just steps from the sparkling pool and active 55+ clubhouse. The condo association covers cable, water, sewer, roof, insurance, and landscaping. No leasing permitted during the first two years of ownership. Ideally located near Downtown Stuart and the beaches.

17. 2025-08-04
    listed $180,000 Active 734-char remark

    Show marketing remark (734 chars)

    Beautifully updated 2BD/2BA corner residence featuring impact windows and a sleek impact-rated front door. This light-filled home is truly move-in ready with new vinyl flooring, modern ceiling fans, and refreshed bathroom finishes throughout. Enjoy your private Florida room/balcony with peaceful green space views, perfect for morning coffee or evening unwinding. Additional highlights include a large private storage unit and convenient laundry located on the same floor. Just steps from the sparkling pool and active 55+ clubhouse. The condo association covers cable, water, sewer, roof, insurance, and landscaping. No leasing permitted during the first two years of ownership. Ideally located near Downtown Stuart and the beaches.

18. 2022-12-27
    soldstatus $225,000
19. 2022-12-23
    soldstatus $225,000 Closed 668-char remark

    Show marketing remark (668 chars)

    No need to worry about storms with this unit!! Brand new IMPACT windows and a beautiful impact front door were recently installed! This 2 bedroom 2 bath corner unit is move in ready and sold furnished! Enjoy the Florida room looking out to the back yard. There is updated vinyl flooring, new ceiling fans and bathroom fixtures. Large personal storage unit + community washer & dryer on the same floor. Just a short walk to the Community Pool & active 55+ Clubhouse. The low association dues fully include basic cable, water, sewer, roof & building insurance plus all landscaping! No Lease first two years. Close to Historic Downtown Stuart and the beach!

20. 2022-11-30
    historical Active Under Contract 668-char remark

    Show marketing remark (668 chars)

    No need to worry about storms with this unit!! Brand new IMPACT windows and a beautiful impact front door were recently installed! This 2 bedroom 2 bath corner unit is move in ready and sold furnished! Enjoy the Florida room looking out to the back yard. There is updated vinyl flooring, new ceiling fans and bathroom fixtures. Large personal storage unit + community washer & dryer on the same floor. Just a short walk to the Community Pool & active 55+ Clubhouse. The low association dues fully include basic cable, water, sewer, roof & building insurance plus all landscaping! No Lease first two years. Close to Historic Downtown Stuart and the beach!

21. 2022-11-14
    listed $225,000 Active 668-char remark

    Show marketing remark (668 chars)

    No need to worry about storms with this unit!! Brand new IMPACT windows and a beautiful impact front door were recently installed! This 2 bedroom 2 bath corner unit is move in ready and sold furnished! Enjoy the Florida room looking out to the back yard. There is updated vinyl flooring, new ceiling fans and bathroom fixtures. Large personal storage unit + community washer & dryer on the same floor. Just a short walk to the Community Pool & active 55+ Clubhouse. The low association dues fully include basic cable, water, sewer, roof & building insurance plus all landscaping! No Lease first two years. Close to Historic Downtown Stuart and the beach!

22. 2021-07-13
    soldstatus $128,500
23. 2021-07-07
    soldstatus $128,500 Closed
24. 2021-06-18
    status Pending
25. 2021-06-01
    status Active Under Contract
26. 2021-06-01
    historical
27. 2021-03-15
    price $129,900
28. 2021-02-17
    listed $134,900 Active
29. 2004-02-18
    soldstatus $85,000
30. 2003-12-04
    soldstatus $80,000
31. 2001-06-28
    soldstatus $40,000

ⓘ 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: $1,380 · $115/mo
• Projected year-2 tax: $1,477 · $123/mo
• Expected delta: +$97/yr (+$8/mo · 7.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 8 d/yr ≥106°F today · 27 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: $31,060
• − Mortgage interest: −$9,971
• − Property taxes: −$1,380
• − Insurance: −$890
• − Repairs & maintenance: −$2,485
• − Management: −$2,485
• − HOA: −$7,260
• − Depreciation: −$5,178
• Taxable income: $1,411
• Est. tax owed @ 24.0%: −$339
• After-tax cash flow: $3,467/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): 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

+345.0% since first listed

16 events — show timeline

• 2025-08-27 Price Changed $178,000 Beaches MLS
• 2025-08-04 Listed $180,000 Beaches MLS
• 2022-12-27 Sold (Public Records) $225,000 Public Records
• 2022-12-23 Sold (MLS) $225,000 Beaches MLS
• 2022-11-30 Contingent — Beaches MLS
• 2022-11-14 Listed $225,000 Beaches MLS
• 2021-07-13 Sold (Public Records) $128,500 Public Records
• 2021-07-07 Sold (MLS) $128,500 Beaches MLS
• 2021-06-18 Pending — Beaches MLS
• 2021-06-01 Relisted — Beaches MLS
• 2021-06-01 Listing Removed — Beaches MLS
• 2021-03-15 Price Changed $129,900 Beaches MLS
• 2021-02-17 Listed $134,900 Beaches MLS
• 2004-02-18 Sold (Public Records) $85,000 Public Records
• 2003-12-04 Sold (Public Records) $80,000 Public Records
• 2001-06-28 Sold (Public Records) $40,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $1,380 · -5.1% YoY. Source: county tax records.