1225 NW 21st St Unit 35-3509 · North River Shores, FL 34994

$125,000

2 bd · 2.0 ba · 962 sqft · Condo · 463 Days on market

Built 1978 Average condition $130/sqft · 10% below area Est $139k · 10% under $504/mo HOA · 26% of rent ↓ 3% since listing

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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 +19.9/30.0
• ARV discount +12.0/15.0
• 1% rule +10.0/10.0
• DSCR +6.3/10.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Condition / age +2.8/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2/2 furnished 2nd floor A Model in a very active 55+ community with lots of amenities: clubhouse, pool, billiards, shuffleboard and workshop. There are many activities and opportunities to meet new friends. Both the a/c is new in 2018 and h/w heater in 2023 and the kitchen cabinets are a nice, rich looking dark wood. The glassed-in lanai overlooks a green area. Each floor has a washer and dryer because they are not allowed in the units. You can easily walk to the clubhouse from this unit. This community is conveniently located near the mall, beach, downtown and The Shores of North River Golf Club public course. There are no pets, no trucks and no motorcycles. Application fee is $150, an interview is required and you must allow 2 weeks for approval.

Key facts

• Clubhouse
• Billiards
• Glassed-in lanai

Tags

• CLUBHOUSE
• POOL
• BILLIARDS
• SHUFFLEBOARD
• WORKSHOP
• GLASSED-IN LANAI

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $125k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $150 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 5.7% in North River Shores — 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 74/100 on livability (#292 in FL, #4,906 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; Watch: schools D+, 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: Rents soft (-0.7%/yr); 256 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).
• This rent runs 37% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 463 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• Climate carrying-cost: 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.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 463 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 1978 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.54% ✓
• Cap rate: 7.73%
• Cash-on-cash: 5.15%
• DSCR: 1.23
• GRM: 5.4

CMA / ARV

• ARV (median comp): $138,723
• List price: $125,000
• Delta: -9.89%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -13.3%
• Equity multiple: 0.54×
• Total profit: $-15,989
• Equity at exit: $18,638

10-year hold

• IRR: -13.7%
• Equity multiple: 0.37×
• Total profit: $-22,000
• Equity at exit: $10,808

Cash invested: $35,000 (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 34994

• Home prices YoY: -27.1%
• Rents YoY: -0.7%
• Active inventory: 256
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,921 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$504
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $150

Break-even live

Break-even rent $1,731

Max offer price $125,000

Occupancy floor 87%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1225 NW 21st St Unit 8-815 Stuart, FL	2.0	2.0	1014	$1,950	$1.92	23d	1	0.03mi
1225 NW 21st St Unit 7-705 Stuart, FL	1.0	1.5	747	$1,550	$2.07	14d	1	0.03mi
1225 NW 21st St Stuart, FL	1.0	1.5	773	$1,500	$1.94	21d	3	0.03mi
1225 NW 21st St Stuart, FL	1.0	1.5	773	$1,350	$1.75	14d	1	0.03mi
1225 NW 21st St Unit 36-3609 Stuart, FL	2.0	2.0	1014	$1,700	$1.68	21d	1	0.03mi
1225 NW 21st St Unit 35-3512 Stuart, FL	1.0	1.5	747	$1,395	$1.87	23d	1	0.03mi
2201 NW Federal Hwy Stuart, FL	1.0–3.0	1.0–2.0	1080	$2,530	$2.34	14d	18	0.30mi
1900 NW Federal Hwy Stuart, FL	1.0–2.0	1.0–2.0	1013	$3,973	$3.92	14d	21	0.32mi
1010 NW Fresco Way Jensen Beach, FL	1.0–3.0	1.0–2.0	1011	$2,122	$2.10	14d	10	0.61mi
2233 NW 22nd Ave #102 Stuart, FL	2.0	2.0	1030	$2,200	$2.14	21d	1	0.69mi
2283 NW 22nd Ave #104 Stuart, FL	2.0	2.0	1074	$2,100	$1.96	23d	1	0.71mi
974 NW Spruce Ridge Dr Stuart, FL	2.0	2.0	1037	$2,100	$2.03	23d	1	0.89mi
964 NW Spruce Ridge Dr Unit D1 Stuart, FL	2.0	2.0	1056	$2,200	$2.08	23d	1	0.94mi
800 NW Fork Rd Stuart, FL	1.0–2.0	1.0–2.0	886	$1,850	$2.09	14d	2	1.13mi
25 NE 17th St Stuart, FL	3.0	2.0	990	$2,000	$2.02	23d	1	1.19mi
1398 NW Cavendish Ct Stuart, FL	2.0–3.0	2.5	1242	$2,393	$1.93	21d	11	1.20mi
3624 NW Adriatic Ln Unit 308 Jensen Beach, FL	1.0	1.0	781	$1,659	$2.12	23d	1	1.37mi
64 NE Acacia Trl Jensen Beach, FL	2.0	2.0	1000	$3,000	$3.00	23d	1	1.39mi
975 NW Flagler Ave #403 Stuart, FL	2.0	2.0	1082	$3,000	$2.77	23d	1	1.39mi
3617 NW Adriatic Ln Jensen Beach, FL	1.0	1.0	802	$1,595	$1.99	23d	1	1.39mi
875 NW Flagler Ave #302 Stuart, FL	2.0	2.0	1082	$2,900	$2.68	14d	1	1.41mi
3605 NW Adriatic Ln Unit 7-103 Jensen Beach, FL	2.0	2.0	1067	$1,850	$1.73	14d	1	1.44mi
3655 NW Adriatic Ln #307 Jensen Beach, FL	1.0	1.0	781	$1,595	$2.04	14d	1	1.44mi
3614 NW Adriatic Ln Jensen Beach, FL	1.0	1.0	781	$1,550	$1.98	23d	1	1.44mi
3620 NW Adriatic Ln #306 Jensen Beach, FL	1.0	1.0	781	$1,595	$2.04	23d	1	1.44mi
3690 NW Mediterranean Ln Unit 12-305 Jensen Beach, FL	2.0	2.0	1067	$1,850	$1.73	23d	1	1.44mi
3805 NW Mediterranean Ln Jensen Beach, FL	2.0	2.0	1067	$1,975	$1.85	14d	1	1.44mi
3628 NW Adriatic Ln Jensen Beach, FL	2.0	2.0	1067	$1,875	$1.76	14d	1	1.44mi
3769 NW Mediterranean Ln Jensen Beach, FL	1.0	1.0	795	$1,700	$2.14	23d	1	1.49mi

HOA detail condo

• Monthly dues: $504 · $6,048/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $125,000 Active 463 DOM
2. 2026-06-17
   days on market $125,000 Active 462 DOM
3. 2026-06-16
   days on market $125,000 Active 461 DOM
4. 2026-06-15
   days on market $125,000 Active 460 DOM
5. 2026-06-14
   days on market $125,000 Active 458 DOM
6. 2026-06-13
   days on market $125,000 Active 457 DOM
7. 2026-06-10
   days on market $125,000 Active 455 DOM
8. 2026-06-09
   days on market $125,000 Active 454 DOM
9. 2026-06-08
   days on market $125,000 Active 453 DOM
10. 2026-06-07
    days on market $125,000 Active 452 DOM
11. 2026-06-03
    pricedays on market $125,000 Active 448 DOM
12. 2026-06-02
    days on market $134,900 Active 447 DOM
13. 2026-06-01
    days on market $134,900 Active 446 DOM
14. 2026-05-31
    days on market $134,900 Active 445 DOM
15. 2026-05-31
    days on market $134,900 Active 444 DOM
16. 2026-01-08
    price $134,900 759-char remark

    Show marketing remark (759 chars)

    2/2 furnished 2nd floor A Model in a very active 55+ community with lots of amenities: clubhouse, pool, billiards, shuffleboard and workshop. There are many activities and opportunities to meet new friends. Both the a/c is new in 2018 and h/w heater in 2023 and the kitchen cabinets are a nice, rich looking dark wood. The glassed-in lanai overlooks a green area. Each floor has a washer and dryer because they are not allowed in the units. You can easily walk to the clubhouse from this unit. This community is conveniently located near the mall, beach, downtown and The Shores of North River Golf Club public course. There are no pets, no trucks and no motorcycles. Application fee is $150, an interview is required and you must allow 2 weeks for approval.

17. 2025-06-16
    price $137,900 759-char remark

    Show marketing remark (759 chars)

    2/2 furnished 2nd floor A Model in a very active 55+ community with lots of amenities: clubhouse, pool, billiards, shuffleboard and workshop. There are many activities and opportunities to meet new friends. Both the a/c is new in 2018 and h/w heater in 2023 and the kitchen cabinets are a nice, rich looking dark wood. The glassed-in lanai overlooks a green area. Each floor has a washer and dryer because they are not allowed in the units. You can easily walk to the clubhouse from this unit. This community is conveniently located near the mall, beach, downtown and The Shores of North River Golf Club public course. There are no pets, no trucks and no motorcycles. Application fee is $150, an interview is required and you must allow 2 weeks for approval.

18. 2025-03-12
    listed $139,000 Active 759-char remark

    Show marketing remark (759 chars)

    2/2 furnished 2nd floor A Model in a very active 55+ community with lots of amenities: clubhouse, pool, billiards, shuffleboard and workshop. There are many activities and opportunities to meet new friends. Both the a/c is new in 2018 and h/w heater in 2023 and the kitchen cabinets are a nice, rich looking dark wood. The glassed-in lanai overlooks a green area. Each floor has a washer and dryer because they are not allowed in the units. You can easily walk to the clubhouse from this unit. This community is conveniently located near the mall, beach, downtown and The Shores of North River Golf Club public course. There are no pets, no trucks and no motorcycles. Application fee is $150, an interview is required and you must allow 2 weeks for approval.

ⓘ 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 · 25 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: $23,057
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,845
• − Management: −$1,845
• − HOA: −$6,048
• − Depreciation: −$3,636
• Taxable income: $182
• Est. tax owed @ 24.0%: −$44
• After-tax cash flow: $1,757/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

Average 55/100 Cosmetic rehab

This 2/2 condo in a 55+ community is in average condition with some cosmetic updates needed to enhance its resale and rental value.

Repairs flagged

• Minor Paint — Paint appears slightly faded
• Minor Cabinetry — Dated cabinetry

Value-add opportunities

• Both Paint — Fresh paint enhances curb appeal and interior
• Both Cabinetry — Newer cabinetry improves aesthetics and functionality
• Both Flooring — New flooring would improve aesthetics and reduce maintenance
• Both Bathroom fixtures — Updated fixtures would enhance aesthetics and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Paint appears slightly faded	Minor	$500–3,000
Cabinetry · Dated cabinetry	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint — Fresh paint enhances curb appeal and interior ↑
• Both Cabinetry — Newer cabinetry improves aesthetics and functionality ↑
• Both Flooring — New flooring would improve aesthetics and reduce maintenance ↑
• Both Bathroom fixtures — Updated fixtures would enhance aesthetics and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — North River Shores

• Score: 74/100
• State rank: #292
• US rank: #4906

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North River Shores, FL
• County: Martin County · 165,223 people
• Metro: Port St. Lucie, FL
• Population (ZIP): 18,737
• Household income: $62,533
• Rent vs Own: 42.1% rent · 57.9% own
• Severe rent burden: 1408.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 21% Two or more races 12% Black 11%
• Hispanic origin (detail): Mexican 6% Puerto Rican 5% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 12% · Canada
• Languages at home: 80% English-only · Spanish 16% Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -130.08%
• Current HPI: 349.7061
• Rent YoY: ▼ -0.69%
• 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

-2.9% since first listed

3 events — show timeline

• 2026-01-08 Price Changed $134,900 MCRTC
• 2025-06-16 Price Changed $137,900 MCRTC
• 2025-03-12 Listed $139,000 MCRTC