2054 SW Silver Pine Way Unit 123h · Palm City, FL 34990

$269,000

3 bd · 2.0 ba · 1,286 sqft · Condo public records · 132 Days on market

Built 1988 $209/sqft · 33% below area Est $403k · 33% under $665/mo HOA · 25% 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 +15.0/15.0
• Cash flow +7.2/30.0
• 1% rule +4.9/10.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Highly desirable one-story villa-style end unit featuring 3 bedrooms, 2 full bathrooms, and a one-car garage. This home offers both front and back patios perfect for relaxing and enjoying the Florida lifestyle, along with new kitchen appliances. Laundry hook up available inside unit. The maintenance fee covers exterior, including a 2022 roof, lawn care, and cable, providing truly low-maintenance living. The gated and private community features a heated pool, jacuzzi, tennis, pickleball, and bocce ball. A fantastic opportunity to own a peaceful, low-maintenance home in a prime Palm City location.

Key facts

• Jacuzzi
• Heated pool
• Garage

Tags

• ONE STORY VILLA STYLE
• FRONT AND BACK PATIOS
• NEW KITCHEN APPLIANCES
• GATED AND PRIVATE COMMUNITY
• HEATED POOL
• JACUZZI

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $269k.

Deal economics

• At list price, monthly cash flow is $-375 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (24.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $266k (1.1% below list).
• Recommended offer: $203k (24.7% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 2.6% 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); 452 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $8k 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 132 days — a 12% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 27y ago; this cycle's ask is 13350% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $160k; list at $269k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% 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 $202,677 (24.7% 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 132 days. Have you received any prior offers? Is the seller open to a 25% 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: 0.99% ✗
• Cap rate: 4.62%
• Cash-on-cash: -5.98%
• DSCR: 0.73
• GRM: 8.4

CMA / ARV

• ARV (median comp): $403,170
• List price: $269,000
• Delta: -33.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -31.2%
• Equity multiple: 0.01×
• Total profit: $-74,878
• Equity at exit: $40,109

10-year hold

• IRR: -66.0%
• Equity multiple: -0.65×
• Total profit: $-124,416
• Equity at exit: $23,258

Cash invested: $75,320 (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 34990

• Home prices YoY: -29.7%
• Rents YoY: -0.1%
• Active inventory: 452
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,660 high
• Mortgage (P&I): −$1,411
• Tax from tax record: −$289 /mo · $3,472/yr
• Insurance: −$112
• HOA: −$665
• Vacancy / Maint / Mgmt: −$559
• Net cashflow: $-375

Break-even live

Break-even rent $3,136

Max offer price $202,677

Occupancy floor —

Sensitivity live

Price	-10% $-223	-5% $-299	+0% $-375	+5% $-452	+10% $-528
Rent	-10% $-586	-5% $-481	+0% $-375	+5% $-270	+10% $-165
Rate	-1.0pp $-240	-0.5pp $-307	base $-375	+0.5pp $-445	+1.0pp $-516

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2868 SW Shinnecock Hills Ct Palm City, FL	3.0	2.0	1451	$3,000	$2.07	25d	1	0.19mi
1605 SW Silver Pine Way Unit F2 Palm City, FL	2.0	2.0	1111	$2,000	$1.80	25d	1	0.36mi
1544 SW Silver Pine Way Unit F-104 Palm City, FL	2.0	2.0	1170	$2,500	$2.14	15d	1	0.38mi
2735 SW Mariposa Cir Palm City, FL	2.0	2.0	1612	$2,800	$1.74	25d	1	0.51mi
3375 SW Mapp Rd Unit 204 Palm City, FL	3.0	2.0	1067	$2,300	$2.16	25d	1	0.81mi
3662 SW Sunset Trace Cir Palm City, FL	3.0	2.0	1296	$2,500	$1.93	15d	1	0.85mi
3405 SW Feroe Ave Palm City, FL	2.0	2.0	1275	$2,800	$2.20	25d	1	0.93mi
3579 SW Sunset Trace Cir Palm City, FL	2.0	2.5	1236	$2,300	$1.86	25d	1	0.97mi
3599 SW Sunset Trace Cir Palm City, FL	2.0	2.5	1236	$2,200	$1.78	23d	1	0.99mi
2819 SW Cornell Ave Palm City, FL	2.0	1.5	1060	$2,150	$2.03	23d	1	1.03mi
1880 SW Springfield Ct Palm City, FL	2.0	2.0	1525	$2,950	$1.93	25d	1	1.04mi
1634 SW Crossing Cir Palm City, FL	2.0	1.5	1258	$2,200	$1.75	25d	1	1.12mi
3505 SW Quail Meadow Trl Unit A Palm City, FL	2.0	2.0	1331	$2,500	$1.88	15d	1	1.19mi
664 SW 35th St Apt 3 Palm City, FL	2.0	1.5	900	$1,775	$1.97	15d	1	1.29mi
664 SW 35th St Unit 6 Palm City, FL	2.0	1.5	900	$1,850	$2.06	15d	1	1.29mi
3641 SW Coquina Cove Way Palm City, FL	1.0–3.0	1.0–2.0	987	$2,695	$2.73	15d	11	1.37mi
1868 SW Palm City Rd Apt 202 Stuart, FL	2.0	2.0	1191	$2,900	$2.43	25d	1	1.49mi

HOA detail condo

• Monthly dues: $665 · $7,980/yr
• Likely covers: cablelandscapingpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-21
   days on market $269,000 Active 132 DOM
2. 2026-06-18
   days on market $269,000 Active 129 DOM
3. 2026-06-17
   days on market $269,000 Active 128 DOM
4. 2026-06-16
   days on market $269,000 Active 127 DOM
5. 2026-06-15
   days on market $269,000 Active 126 DOM
6. 2026-06-14
   days on market $269,000 Active 124 DOM
7. 2026-06-13
   days on market $269,000 Active 123 DOM
8. 2026-06-10
   days on market $269,000 Active 121 DOM
9. 2026-06-09
   days on market $269,000 Active 120 DOM
10. 2026-06-08
    days on market $269,000 Active 119 DOM
11. 2026-06-07
    days on market $269,000 Active 118 DOM
12. 2026-06-03
    days on market $269,000 Active 114 DOM
13. 2026-06-03
    price $269,000 Active 113 DOM
14. 2026-06-02
    days on market $279,000 Active 113 DOM
15. 2026-06-01
    days on market $279,000 Active 112 DOM
16. 2026-05-31
    days on market $279,000 Active 111 DOM
17. 2026-05-31
    days on market $279,000 Active 110 DOM
18. 2026-05-15
    price $279,000 602-char remark

    Show marketing remark (603 chars)

    Highly desirable one-story villa-style end unit featuring 3 bedrooms, 2 full bathrooms, and a one-car garage. This home offers both front and back patios perfect for relaxing and enjoying the Florida lifestyle, along with new kitchen appliances. Laundry hook up available inside unit. The maintenance fee covers exterior, including a 2022 roof, lawn care, and cable, providing truly low-maintenance living. The gated and private community features a heated pool, jacuzzi, tennis, pickleball, and bocce ball. A fantastic opportunity to own a peaceful, low-maintenance home in a prime Palm City location.

19. 2026-05-15
    price $279,000 603-char remark

    Show marketing remark (603 chars)

    Highly desirable one-story villa-style end unit featuring 3 bedrooms, 2 full bathrooms, and a one-car garage. This home offers both front and back patios perfect for relaxing and enjoying the Florida lifestyle, along with new kitchen appliances. Laundry hook up available inside unit. The maintenance fee covers exterior, including a 2022 roof, lawn care, and cable, providing truly low-maintenance living. The gated and private community features a heated pool, jacuzzi, tennis, pickleball, and bocce ball. A fantastic opportunity to own a peaceful, low-maintenance home in a prime Palm City location.

20. 2026-04-28
    listed $2,000
21. 2026-04-14
    status Active 602-char remark

    Show marketing remark (602 chars)

    Highly desirable one-story villa-style end unit featuring 3 bedrooms, 2 full bathrooms, and a one-car garage. This home offers both front and back patios perfect for relaxing and enjoying the Florida lifestyle, along with new kitchen appliances. Laundry hook up available inside unit. The maintenance fee covers exterior, including a 2022 roof, lawn care, and cable, providing truly low-maintenance living. The gated and private community features a heated pool, jacuzzi, tennis, pickleball, and bocce ball. A fantastic opportunity to own a peaceful, low-maintenance home in a prime Palm City location.

22. 2026-04-07
    historical Active Under Contract 602-char remark

    Show marketing remark (602 chars)

    Highly desirable one-story villa-style end unit featuring 3 bedrooms, 2 full bathrooms, and a one-car garage. This home offers both front and back patios perfect for relaxing and enjoying the Florida lifestyle, along with new kitchen appliances. Laundry hook up available inside unit. The maintenance fee covers exterior, including a 2022 roof, lawn care, and cable, providing truly low-maintenance living. The gated and private community features a heated pool, jacuzzi, tennis, pickleball, and bocce ball. A fantastic opportunity to own a peaceful, low-maintenance home in a prime Palm City location.

23. 2026-02-23
    price $289,000 603-char remark

    Show marketing remark (602 chars)

    Highly desirable one-story villa-style end unit featuring 3 bedrooms, 2 full bathrooms, and a one-car garage. This home offers both front and back patios perfect for relaxing and enjoying the Florida lifestyle, along with new kitchen appliances. Laundry hook up available inside unit. The maintenance fee covers exterior, including a 2022 roof, lawn care, and cable, providing truly low-maintenance living. The gated and private community features a heated pool, jacuzzi, tennis, pickleball, and bocce ball. A fantastic opportunity to own a peaceful, low-maintenance home in a prime Palm City location.

24. 2026-02-23
    price $289,000 602-char remark

    Show marketing remark (602 chars)

    Highly desirable one-story villa-style end unit featuring 3 bedrooms, 2 full bathrooms, and a one-car garage. This home offers both front and back patios perfect for relaxing and enjoying the Florida lifestyle, along with new kitchen appliances. Laundry hook up available inside unit. The maintenance fee covers exterior, including a 2022 roof, lawn care, and cable, providing truly low-maintenance living. The gated and private community features a heated pool, jacuzzi, tennis, pickleball, and bocce ball. A fantastic opportunity to own a peaceful, low-maintenance home in a prime Palm City location.

25. 2026-02-09
    listed $299,000 Active 603-char remark

    Show marketing remark (603 chars)

    Highly desirable one-story villa-style end unit featuring 3 bedrooms, 2 full bathrooms, and a one-car garage. This home offers both front and back patios perfect for relaxing and enjoying the Florida lifestyle, along with new kitchen appliances. Laundry hook up available inside unit. The maintenance fee covers exterior, including a 2022 roof, lawn care, and cable, providing truly low-maintenance living. The gated and private community features a heated pool, jacuzzi, tennis, pickleball, and bocce ball. A fantastic opportunity to own a peaceful, low-maintenance home in a prime Palm City location.

26. 2026-02-06
    listed $299,000 Active 602-char remark

    Show marketing remark (602 chars)

    Highly desirable one-story villa-style end unit featuring 3 bedrooms, 2 full bathrooms, and a one-car garage. This home offers both front and back patios perfect for relaxing and enjoying the Florida lifestyle, along with new kitchen appliances. Laundry hook up available inside unit. The maintenance fee covers exterior, including a 2022 roof, lawn care, and cable, providing truly low-maintenance living. The gated and private community features a heated pool, jacuzzi, tennis, pickleball, and bocce ball. A fantastic opportunity to own a peaceful, low-maintenance home in a prime Palm City location.

27. 2017-09-29
    soldstatus $160,000
28. 2017-09-26
    soldstatus $160,000 Closed
29. 2017-08-14
    status Pending
30. 2017-08-07
    listed $165,000 Active
31. 2000-11-01
    soldstatus $87,000
32. 2000-10-31
    soldstatus $87,000
33. 2000-07-25
    listed $89,900
34. 2000-03-01
    soldstatus $84,000
35. 2000-02-29
    soldstatus $84,000
36. 1999-12-11
    listed $87,000
37. 1995-11-02
    soldstatus $80,800

ⓘ 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: $3,472 · $289/mo
• Projected year-2 tax: $3,472 · $289/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 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: $31,924
• − Mortgage interest: −$15,068
• − Property taxes: −$3,472
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,554
• − Management: −$2,554
• − HOA: −$7,980
• − Depreciation: −$7,825
• Taxable loss: −$8,875
• Est. tax savings @ 24.0%: +$2,130
• After-tax cash flow: $-2,375/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 — 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 · 165,223 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: 249.0

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 (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%

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

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

+245.3% since first listed

20 events — show timeline

• 2026-05-15 Price Changed $279,000 MCRTC
• 2026-05-15 Price Changed $279,000 Beaches MLS
• 2026-04-28 Listed for Rent $2,000 MCRTC
• 2026-04-14 Relisted — MCRTC
• 2026-04-07 Contingent — MCRTC
• 2026-02-23 Price Changed $289,000 Beaches MLS
• 2026-02-23 Price Changed $289,000 MCRTC
• 2026-02-09 Listed $299,000 Beaches MLS
• 2026-02-06 Listed $299,000 MCRTC
• 2017-09-29 Sold (Public Records) $160,000 Public Records
• 2017-09-26 Sold (MLS) $160,000 Beaches MLS
• 2017-08-14 Pending — Beaches MLS
• 2017-08-07 Listed $165,000 Beaches MLS
• 2000-11-01 Sold (Public Records) $87,000 Public Records
• 2000-10-31 Sold (MLS) $87,000 MCRTC
• 2000-07-25 Listed $89,900 MCRTC
• 2000-03-01 Sold (Public Records) $84,000 Public Records
• 2000-02-29 Sold (MLS) $84,000 MCRTC
• 1999-12-11 Listed $87,000 MCRTC
• 1995-11-02 Sold (Public Records) $80,800 Public Records

Property tax history

+17.4%/yr

Latest (2025): $3,472 · -0.0% YoY. Source: county tax records.