16206 SW Indianwood Cir · Indiantown, FL 34956

$99,900

2 bd · 2.0 ba · 836 sqft · Condo public records · 14 Days on market

Built 2004 ↓ 19% since listing

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Looking for that Key West coastal feel? Remodeled kitchen & baths! This is it with an unbelievable waterfront & golf course panoramic view. It's 5 O'clock somewhere on the screened lanai. No popcorn ceilings or carpet here. Furnished with wood laminate flooring & tile. The open remodeled kitchen has new quartz countertops, cabinets, new island for extra seating, food prep & skylights. Both bedrooms have remote control ceiling fans/lights and both bathrooms have brand new vanities with Quartz countertops. New addition of concrete cart path to the carport & shed. Metal roof. Adjacent to the community is a public golf course & sit-down full-service restauran

Key facts

• Waterfront view
• Golf course view
• Remodeled kitchen

Tags

• REMODELED KITCHEN
• WATERFRONT VIEW
• GOLF COURSE VIEW
• SCREENED LANAI
• WOOD LAMINATE FLOORING
• NEW QUARTZ COUNTERTOPS

Property features AI

Finance

• Other: Pets allowed with number limit
• Financial info: Land lease required (amount listed separately)
• HOA & community: Homeowners association; Senior community; Clubhouse; Pool; Fitness center; Tennis courts; Pickleball; Shuffleboard; Bocce court; Billiard room; Game room; Library; Dog park; Street lights; Property manager on-site; Kitchen facilities

Exterior

• Parking: Attached carport; Covered spaces for 2 vehicles; 2 total parking spaces; Carport
• Utilities: Public water; Public sewer; Sewer connected; Water connected
• Home design: Manufactured home; Single-story; Resale; Metal roof; Merit make (manufactured home)
• Construction: Manufactured construction; Metal roof
• Exterior features: Covered patio; Screened patio; Patio; Sprinkler/irrigation; Shed(s); Community pool; Lakefront; On golf course; Has view

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Water softener; Kitchen island
• Flooring: Ceramic tile; Engineered hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: High ceilings; Kitchen island; Skylights; Separate shower; Furnished
• Laundry & utility: Washer; Dryer; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $730 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 15.1% vs local median 10.9% in Indiantown — 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 59/100 on livability (#829 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, 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.
• Market conditions: 135 active listings in the ZIP; 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($691 loan paydown + $7k appreciation (6.7% local appreciation)).
• Martin County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y 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; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,900

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
7. 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.
8. 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.
9. 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: 1.84% ✓
• Cap rate: 15.07%
• Cash-on-cash: 31.33%
• DSCR: 2.39
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.65% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.0%
• Equity multiple: 3.84×
• Total profit: $79,315
• Equity at exit: $66,958

10-year hold

• IRR: 39.6%
• Equity multiple: 8.01×
• Total profit: $196,090
• Equity at exit: $125,187

Cash invested: $27,972 (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 34956

• Home prices YoY: 1.2%
• Active inventory: 135
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,834 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$153 /mo · $1,838/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $730

Break-even live

Break-even rent $910

Max offer price $99,900

Occupancy floor 55%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $99,900 Active 14 DOM
2. 2026-06-17
   days on market $99,900 Active 13 DOM
3. 2026-06-16
   days on market $99,900 Active 12 DOM
4. 2026-06-15
   days on market $99,900 Active 11 DOM
5. 2026-06-14
   days on market $99,900 Active 9 DOM
6. 2026-06-13
   days on market $99,900 Active 8 DOM
7. 2026-06-10
   days on market $99,900 Active 6 DOM
8. 2026-06-09
   days on market $99,900 Active 5 DOM
9. 2026-06-08
   days on market $99,900 Active 4 DOM
10. 2026-06-07
    remarks 675-char remark
11. 2026-06-07
    listed $99,900 Active 3 DOM

ⓘ 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: $1,838 · $153/mo
• Projected year-2 tax: $1,838 · $153/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,011
• − Mortgage interest: −$5,596
• − Property taxes: −$1,838
• − Insurance: −$500
• − Repairs & maintenance: −$1,761
• − Management: −$1,761
• − Depreciation: −$2,906
• Taxable income: $7,650
• Est. tax owed @ 24.0%: −$1,836
• After-tax cash flow: $6,929/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 — Indiantown

• Score: 59/100
• State rank: #829
• US rank: #20298

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indiantown, FL
• Population (ZIP): 9,639

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Hispanic / Latino 49% Black 24% White 24% Two or more races 16% Native American 5% Asian 1%
• Hispanic origin (detail): Mexican 21% Puerto Rican 4% Cuban 1%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 22% · Canada
• Languages at home: 55% English-only · Spanish 42%

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: ▲ 6.65%
• Current HPI: 561.896
• Rent YoY: —
• Metro: —
• 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

-18.8% since first listed

7 events — show timeline

• 2026-06-03 Listed $99,900 MCRTC
• 2025-04-30 Listing Removed — MCRTC
• 2024-12-31 Price Changed $95,000 MCRTC
• 2024-11-11 Price Changed $105,000 MCRTC
• 2024-11-01 Listed $119,900 MCRTC
• 2024-08-12 Listing Removed — MCRTC
• 2024-06-21 Listed $123,000 MCRTC

Property tax history

+5.5%/yr

Latest (2024): $1,838 · -1.2% YoY. Source: county tax records.