1955 SW Palm City Rd Unit 28 H

Stuart, FL 34994

$105,000C-

1 bd · 1.0 ba · 698 sqft · Built 1972 · Condo · Active · 168 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,676/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$175
• HOA: −$643
• Vac / Maint / Mgmt: −$352
• Net cashflow: $-45/mo
• Annual: $-536/yr
• Cap rate: 5.78%
• Cash-on-cash: -1.82%
• DSCR: 0.92
• 1% rule: 1.60%
• Cash to close: $29,400

Investor read

• This is a 1-bed/1.0-bath condo listed at $105k. Condition is rated average.
• At list price, monthly cash flow is $-45 ($-536/yr) — negative.
• To cash-flow at today's rent, offer at most $99k (6.2% below list).
• Meets the 1% rule at list price ($2k rent vs $105k).
• It's been on market 168 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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: J. D. Parker School of Technology (math 39% / reading 40%, grade F, #1,513 of 2,144 statewide, top 73%, 519 students, 72% 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).
• Watch-outs: HOA is 38% of rent.
• Market conditions: Rents soft (-0.7%/yr); 423 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals lingering (median 41d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).
• Martin County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.8% vs local median 3.5% 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.
• This rent runs 32% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 168 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?

Repairs flagged (vision-AI assessment)

• Minor: Kitchen countertops — Visible wear and tear on countertops.
• Minor: Kitchen cabinets — Visible wear and tear on cabinets.
• Minor: Bathroom fixtures — Visible wear and tear on fixtures.
• Minor: Exterior paint — Signs of fading and wear on exterior paint.
• Minor: Interior paint — Signs of wear and tear on interior paint.
• Minor: Windows — Visible wear and tear on windows.