1575 SW Silver Pine Way Unit 108-A2 · Palm City, FL 34990

$205,000

3 bd · 2.0 ba · 1,468 sqft · Condo · 194 Days on market

Built 1987 Good condition $140/sqft · 12% below area Est $232k · 12% under $750/mo HOA · 29% 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).

• ARV discount +12.8/15.0
• Cash flow +9.2/30.0
• 1% rule +7.4/10.0
• Schools +6.8/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready 3-bedroom, 2-bath second-floor condo in the gated Pine Ridge at Martin Downs community. Functional layout with a screened, tiled balcony and accordion hurricane shutters. Honey Washington Oak laminate flooring in the main living areas with carpeted bedrooms. Open living and dining area with good natural light, ample storage, new appliances, new A/C system including both the interior unit and exterior, in-unit washer and dryer, and a large walk-in closet in the primary bedroom. Pine Ridge is a gated, pet-friendly community with a heated pool, clubhouse, and tennis courts, conveniently located near top-rated schools, shopping, dining, golf, and easy access to I-95 and the Turnpike.

Key facts

• New a c system
• New appliances
• Large walk in closet

Tags

• SCREENED TILED BALCONY
• ACCORDION HURRICANE SHUTTERS
• NEW APPLIANCES
• NEW A C SYSTEM
• IN UNIT WASHER AND DRYER
• LARGE WALK IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $205k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-153 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (10.8% below list).
• Meets the 1% rule at list price ($3k rent vs $205k).
• Recommended offer: $180k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.4% vs local median 2.3% in Palm City — 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 79/100 on livability (#140 in FL, #2,113 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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: Bessey Creek Elementary School (math 78% / reading 78%, grade A, #149 of 2,144 statewide, top 8%, 562 students, 28% FRL); Hidden Oaks Middle School (math 82% / reading 71%, grade A, #33 of 571 statewide, top 6%, 940 students, 23% FRL); Martin County High School (math 45% / reading 54%, grade D, #179 of 667 statewide, top 29%, 2,273 students, 42% FRL).
• Zoned-school proficiency averages 68% at this address vs 52% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Martin average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-0.1%/yr); 528 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• It's been on market 194 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $108k; list at $205k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• 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 $180,400 (12.0% 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. It's been on market 194 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. 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: 1.24% ✓
• Cap rate: 5.40%
• Cash-on-cash: -3.19%
• DSCR: 0.86
• GRM: 6.7

CMA / ARV

• ARV (median comp): $232,339
• List price: $205,000
• Delta: -11.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
42 SE Sedona Cir #201	1.49mi	3/2.0	1,427 (-3%)	0mo	$250,000	$175	60
2703 SW Matheson Ave Apt 116d	0.23mi	2/2.0 (-1)	1,111 (-24%)	1mo	$190,000	$171	59
1731 SW Shady Lake Ter	0.35mi	2/2.0 (-1)	1,680 (+14%)	0mo	$395,000	$235	54
2806 SW Ridgewood Pl	1.34mi	2/2.0 (-1)	1,525 (+4%)	1mo	$300,000	$197	53
2975 SW Mariposa Cir	0.86mi	3/2.0	1,611 (+10%)	1mo	$415,000	$258	48
2534 SW Conch Cove Ln	0.59mi	3/2.0	1,808 (+23%)	1mo	$975,000	$539	47
2842 SW Lakemont Pl	1.14mi	2/2.5 (-1)	1,374 (-6%)	1mo	$275,000	$200	46
3784 SW Sunset Trace Cir	1.31mi	3/2.0	1,296 (-12%)	1mo	$300,000	$231	45
2310 SW Bobalink Ct	1.49mi	3/2.0	1,721 (+17%)	0mo	$455,000	$264	40
1489 SW Pine Tree Ln	1.36mi	3/2.0	1,806 (+23%)	1mo	$1,100,000	$609	39
1811 SW Palm City Rd Unit A601	1.38mi	2/2.0 (-1)	1,188 (-19%)	1mo	$95,000	$80	34
2904 SW Sunset Trace Cir	1.41mi	2/2.5 (-1)	1,236 (-16%)	0mo	$255,000	$206	33

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -26.8%
• Equity multiple: 0.13×
• Total profit: $-49,915
• Equity at exit: $30,566

10-year hold

• IRR: -55.3%
• Equity multiple: -0.44×
• Total profit: $-82,831
• Equity at exit: $17,725

Cash invested: $57,400 (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 →

Active competition Active MLS

• For sale now: 0 active · 1 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 34990

• Home prices YoY: -29.7%
• Rents YoY: -0.1%
• Active inventory: 528
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,549 high
• Mortgage (P&I): −$1,075
• Tax est. 1.5%: −$256 /mo · $3,075/yr
• Insurance: −$85
• HOA: −$750
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $-153

Break-even live

Break-even rent $2,743

Max offer price $182,908

Occupancy floor —

Sensitivity live

Price	-10% $-11	-5% $-82	+0% $-153	+5% $-224	+10% $-294
Rent	-10% $-354	-5% $-253	+0% $-153	+5% $-52	+10% $49
Rate	-1.0pp $-49	-0.5pp $-101	base $-153	+0.5pp $-206	+1.0pp $-260

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: $51,250
• Closing costs: $6,150
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1544 SW Silver Pine Way Unit F-104 Palm City, FL	2.0	2.0	1170	$2,500	$2.14	63d	1	0.03mi
1605 SW Silver Pine Way Unit F2 Palm City, FL	2.0	2.0	1111	$2,000	$1.80	72d	1	0.06mi
1995 SW Silver Pine Way Apt 119-D1 Palm City, FL	3.0	2.0	1488	$2,100	$1.41	15d	1	0.27mi
2868 SW Shinnecock Hills Ct Palm City, FL	3.0	2.0	1451	$3,000	$2.07	72d	1	0.56mi
3375 SW Mapp Rd Unit 204 Palm City, FL	3.0	2.0	1067	$2,300	$2.16	72d	1	0.57mi
2527 SW Brookwood Ln Palm City, FL	2.0	2.0	1804	$3,750	$2.08	15d	1	0.62mi
2819 SW Cornell Ave Palm City, FL	2.0	1.5	1060	$2,050	$1.93	15d	1	0.66mi
3405 SW Feroe Ave Palm City, FL	2.0	2.0	1275	$2,800	$2.20	72d	1	0.67mi
2735 SW Mariposa Cir Palm City, FL	2.0	2.0	1612	$2,800	$1.74	72d	1	0.87mi
1634 SW Crossing Cir Palm City, FL	2.0	1.5	1258	$2,200	$1.75	72d	1	0.97mi
664 SW 35th St Apt 3 Palm City, FL	2.0	1.5	900	$1,700	$1.89	15d	1	1.01mi
664 SW 35th St Unit 6 Palm City, FL	2.0	1.5	900	$1,850	$2.06	63d	1	1.01mi
2442 SW Danbury Ln Palm City, FL	2.0	2.5	1374	$2,550	$1.86	15d	1	1.06mi
1950 SW Palm City Rd Unit 3-105 Stuart, FL	2.0	2.0	938	$2,000	$2.13	15d	1	1.08mi
1950 SW Palm City Rd Unit 4-4205 Stuart, FL	2.0	2.0	938	$2,400	$2.56	63d	1	1.14mi
1950 SW Palm City Rd Stuart, FL	2.0	2.0	1031	$3,150	$3.05	72d	3	1.14mi
1868 SW Palm City Rd Apt 202 Stuart, FL	2.0	2.0	1191	$2,900	$2.43	72d	1	1.14mi
2865 SW Lakemont Pl Palm City, FL	2.0	2.5	1374	$2,300	$1.67	15d	1	1.16mi
3662 SW Sunset Trace Cir Palm City, FL	3.0	2.0	1296	$2,500	$1.93	63d	1	1.23mi
1880 SW Springfield Ct Palm City, FL	2.0	2.0	1525	$2,950	$1.93	72d	1	1.24mi
514 SW North Carolina Dr Stuart, FL	3.0	2.0	1836	$3,695	$2.01	63d	1	1.33mi
3579 SW Sunset Trace Cir Palm City, FL	2.0	2.5	1236	$2,300	$1.86	72d	1	1.34mi
3599 SW Sunset Trace Cir Palm City, FL	2.0	2.5	1236	$2,200	$1.78	70d	1	1.37mi
3513 SW Sunset Trace Cir Palm City, FL	2.0	2.5	1374	$2,350	$1.71	15d	1	1.39mi
1871 SW Palm City Rd Unit G401 Stuart, FL	3.0	2.0	1289	$2,200	$1.71	72d	1	1.42mi
1900 S Kanner Hwy Unit 2-203 Stuart, FL	2.0	2.0	1086	$1,800	$1.66	63d	1	1.46mi
1900 S Kanner Hwy Unit 10-102 Stuart, FL	2.0	2.0	1032	$1,850	$1.79	15d	1	1.46mi
1600 S Kanner Hwy Stuart, FL	2.0	1.0–2.0	907	$1,698	$1.87	15d	2	1.49mi

HOA detail $750/mo · $9,000/yr condo

• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $205,000 Active 194 DOM
2. 2026-08-07
   days on market $205,000 Active 193 DOM
3. 2026-08-06
   days on market $205,000 Active 192 DOM
4. 2026-08-05
   days on market $205,000 Active 191 DOM
5. 2026-08-04
   days on market $205,000 Active 190 DOM
6. 2026-08-03
   days on market $205,000 Active 189 DOM
7. 2026-07-31
   days on market $205,000 Active 186 DOM
8. 2026-07-29
   days on market $205,000 Active 184 DOM
9. 2026-07-27
   days on market $205,000 Active 182 DOM
10. 2026-07-25
    days on market $205,000 Active 180 DOM
11. 2026-07-23
    days on market $205,000 Active 178 DOM
12. 2026-07-22
    days on market $205,000 Active 177 DOM
13. 2026-07-21
    days on market $205,000 Active 176 DOM
14. 2026-07-18
    days on market $205,000 Active 173 DOM
15. 2026-07-16
    days on market $205,000 Active 171 DOM
16. 2026-07-16
    days on market $205,000 Active 170 DOM
17. 2026-07-14
    days on market $205,000 Active 169 DOM
18. 2026-07-13
    days on market $205,000 Active 168 DOM
19. 2026-07-12
    days on market $205,000 Active 167 DOM
20. 2026-07-11
    days on market $205,000 Active 166 DOM
21. 2026-07-10
    days on market $205,000 Active 165 DOM
22. 2026-07-09
    days on market $205,000 Active 164 DOM
23. 2026-07-08
    days on market $205,000 Active 163 DOM
24. 2026-07-07
    days on market $205,000 Active 162 DOM
25. 2026-07-06
    days on market $205,000 Active 161 DOM
26. 2026-07-05
    days on market $205,000 Active 160 DOM
27. 2026-07-04
    days on market $205,000 Active 159 DOM
28. 2026-07-03
    days on market $205,000 Active 158 DOM
29. 2026-07-02
    days on market $205,000 Active 157 DOM
30. 2026-07-01
    days on market $205,000 Active 156 DOM
31. 2026-06-30
    days on market $205,000 Active 155 DOM
32. 2026-06-29
    days on market $205,000 Active 154 DOM
33. 2026-06-28
    days on market $205,000 Active 153 DOM
34. 2026-06-28
    days on market $205,000 Active 152 DOM
35. 2026-06-27
    days on market $205,000 Active 151 DOM
36. 2026-06-25
    days on market $205,000 Active 149 DOM
37. 2026-06-23
    days on market $205,000 Active 147 DOM
38. 2026-06-21
    days on market $205,000 Active 146 DOM
39. 2026-06-18
    days on market $205,000 Active 143 DOM
40. 2026-06-17
    days on market $205,000 Active 142 DOM
41. 2026-06-16
    days on market $205,000 Active 141 DOM
42. 2026-06-15
    days on market $205,000 Active 140 DOM
43. 2026-06-14
    days on market $205,000 Active 138 DOM
44. 2026-06-13
    days on market $205,000 Active 137 DOM
45. 2026-06-10
    days on market $205,000 Active 135 DOM
46. 2026-06-09
    days on market $205,000 Active 134 DOM
47. 2026-06-08
    days on market $205,000 Active 133 DOM
48. 2026-06-07
    days on market $205,000 Active 132 DOM
49. 2026-06-03
    days on market $205,000 Active 128 DOM
50. 2026-06-02
    days on market $205,000 Active 127 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 3/10 Moderate FEMA zone X (unshaded) · 12% 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: $30,593
• − Mortgage interest: −$11,483
• − Property taxes: −$3,075
• − Insurance: −$1,025
• − Repairs & maintenance: −$2,447
• − Management: −$2,447
• − HOA: −$9,000
• − Depreciation: −$5,964
• Taxable loss: −$4,849
• Est. tax savings @ 24.0%: +$1,164
• After-tax cash flow: $-668/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $7,340–$22,020 screening

This move-in ready 3-bedroom, 2-bath second-floor condo in the gated Pine Ridge at Martin Downs community is in good condition with modern appliances and good lighting. It has a good condition score of 75 and a rehab level of cosmetic.

Value-add opportunities

• Both update flooring to modern style — modern flooring can increase both resale and rental value ↑
• Both update paint to modern colors — modern paint can increase both resale and rental value ↑
• Both update kitchen appliances — modern appliances can increase both resale and rental value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 68/100

Zoned Schools

Elementary Bessey Creek Elementary School A FL #149/2,144 Nat'l #1,556/41,679 Middle Hidden Oaks Middle School A FL #33/571 Nat'l #425/14,009 High Martin County High School D FL #179/667 Nat'l #5,677/17,239

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

B Composite livability gradescore 79/100

Livability — Palm City

• Score: 79/100
• State rank: #140
• US rank: #2113

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm City, FL
• County: Martin County · 172,383 people
• City population: 30,592
• Metro: Port St. Lucie, FL
• Population (ZIP): 30,592
• Household income: $129,560
• Rent vs Own: 9.2% rent · 90.8% own
• Severe rent burden: 4% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 10% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Cuban 3%
• Common ancestry: Romanian 4% Italian 3% Scotch-Irish 2%
• Foreign-born: 9% · Canada, China, Jamaica
• Languages at home: 90% English-only · Spanish 6% Russian/Polish/Slavic 1% Tagalog/Filipino 1%

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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: ▼ -138.81%
• Current HPI: 328.9662
• Rent YoY: ▼ -0.09%
• Metro: Port St. Lucie, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

+87.5% since first listed

5 events — show timeline

• 2026-01-26 Listed $225,000 Beaches MLS
• 2015-03-20 Sold (MLS) $108,000 Beaches MLS
• 2015-03-05 Pending — Beaches MLS
• 2015-02-12 Price Changed $118,000 Beaches MLS
• 2014-10-13 Listed $120,000 Beaches MLS