16234 Four Wood Way Unit L-02 · Indiantown, FL 34956

$31,000

2 bd · 2.0 ba · 1,150 sqft · Manufactured · 58 Days on market

Built 1985 5,227 sqft lot $27/sqft · 55% above area $1150/mo HOA · 49% 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 +15.0/30.0
• Appreciation +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Vacation at home for the rest of your life. Mornings start with golf right down the street at Indianwood Country Club. Come kick back, catch the game on 65 inch TV, then ride over to the Outpost Grill for dinner at the 19th hole. The heated pool is literally across the street and the club house keeps things fun year round with dances, ice cream socials , games, bingo and more. Right out your door you have peaceful Memorial Park to relax in whenever you want. This bright spacious two bedroom two bath home with large master closet feels fresh inside and out. The kitchen's got a skylight that floods the space with Florida sunshine. Newly painted sherbet mint exterior, crisp white interiors wit

Key facts

• Metal roof
• Water softener
• Kitchen skylight

Tags

• KITCHEN SKYLIGHT
• DANISH MODERN LIVING ROOM
• SPACIOUS PATIO
• NEWLY LANDSCAPED
• METAL ROOF
• WATER SOFTENER

Property features AI

Finance

• Other: Community pool
• Financial info: Land lease of $1,304.70; Pets allowed (number limit)
• HOA & community: Homeowners association with $1,150 fee (includes grounds maintenance); Senior community; Community amenities: Clubhouse, Pool, Fitness center, Property manager on-site, Tennis courts, Pickleball, Bocce court, Shuffleboard, Basketball court, Golf, Putting green, Restaurant, Game room, Billiard room, Kitchen facilities, Dog park, Storage facilities

Exterior

• Parking: Attached carport; 2 parking spaces (2 covered)
• Utilities: Electricity connected (110V & 220V)
• Home design: Manufactured home; Single-story; Brooklyn make
• Construction: Aluminum siding; Metal roof; Manufactured construction
• Exterior features: Porch (screened); Shed(s)

Interior

• Kitchen: Dishwasher
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Furnished; Separate shower

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $31k.

Deal economics

• At list price, monthly cash flow is $476 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $31k).
• Recommended offer: $30k (3.0% below list) — sets the bar for market timing.
• Cap rate 24.7% vs local median 11.7% 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: amenities F, commute F, employment 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: Warfield Elementary School (math 22% / reading 19%, grade F, #2,094 of 2,144 statewide, top 98%, 686 students, 79% FRL); Indiantown Middle School (math 42% / reading 29%, grade F, #414 of 571 statewide, top 73%, 646 students, 75% FRL); South Fork High School (math 36% / reading 48%, grade F, #275 of 667 statewide, top 42%, 1,810 students, 51% FRL) — zoned schools average 68% FRL vs 41% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 33% at this address vs 52% district-wide (-20 pts) — the specific schools serving this property underperform the Martin average; the district grade overstates school quality for this exact location.
• Market conditions: 136 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($214 loan paydown + $2k 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 $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($30k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 49% of rent.
• 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 $30,070 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 7.51% ✓
• Cap rate: 24.71%
• Cash-on-cash: 65.77%
• DSCR: 3.93
• GRM: 1.1

CMA / ARV

• ARV (median comp): $20,000
• List price: $31,000
• Delta: 55.00%
• Verdict: OVERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14663 SW Rake Dr	0.08mi	2/2.0	1,100 (-4%)	2mo	$13,000	$12	88
15988 SW Indianwood Cir Unit F-39	0.12mi	2/2.0	1,232 (+7%)	2mo	$21,900	$18	81
14532 SW Divot Dr	0.13mi	2/2.0	1,232 (+7%)	1mo	$25,000	$20	81
16378 SW Two Wood Way	0.17mi	2/2.0	1,120 (-3%)	16mo	$20,000	$18	74
15960 SW Indianwood Cir Cir Unit F-46	0.08mi	2/2.0	1,232 (+7%)	14mo	$9,000	$7	73
16375 SW Three Wood Way	0.15mi	2/2.0	1,232 (+7%)	11mo	$12,000	$10	72
16373 Indianwood Cir Ctr	0.11mi	2/2.0	1,008 (-12%)	7mo	$25,000	$25	69
16387 SW Two Wood Way	0.17mi	2/2.0	1,271 (+10%)	8mo	$10,000	$8	67
16527 SW Two Wood Way Way	0.26mi	2/2.0	1,232 (+7%)	14mo	$20,000	$16	65
16417 SW Two Wood Way	0.19mi	2/2.0	1,232 (+7%)	18mo	$28,000	$23	65
15968 SW Indianwood Cir	0.09mi	2/2.0	1,008 (-12%)	20mo	$21,000	$21	59
14359 SW Sand Wedge Dr	0.35mi	2/2.0	1,232 (+7%)	21mo	$16,000	$13	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 74.7%
• Equity multiple: 5.75×
• Total profit: $41,205
• Equity at exit: $20,778

10-year hold

• IRR: 71.7%
• Equity multiple: 12.37×
• Total profit: $98,683
• Equity at exit: $38,847

Cash invested: $8,680 (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: 136
• Price-to-rent: 1.1×

Monthly cashflow live

• Estimated rent: $2,329 medium
• Mortgage (P&I): −$163
• Tax est. 1.5%: −$39 /mo · $465/yr
• Insurance: −$13
• HOA: −$1,150
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $476

Break-even live

Break-even rent $1,727

Max offer price $31,000

Occupancy floor 75%

Sensitivity live

Price	-10% $497	-5% $486	+0% $476	+5% $465	+10% $454
Rent	-10% $292	-5% $384	+0% $476	+5% $568	+10% $660
Rate	-1.0pp $491	-0.5pp $484	base $476	+0.5pp $468	+1.0pp $460

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: $7,750
• Closing costs: $930
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15817 SW Winter Rd Indiantown, FL	3.0	2.5	1428	$2,300	$1.61	15d	1	0.47mi
15760 SW Hammock Way Indiantown, FL	3.0–4.0	2.0–3.5	1918	$2,420	$1.26	2d	41	1.09mi

HOA detail

• Monthly dues: $1,150 · $13,800/yr
• Likely covers: pool

Listing history 18 events

1. 2026-06-21
   days on market $31,000 Active 58 DOM
2. 2026-06-18
   days on market $31,000 Active 55 DOM
3. 2026-06-17
   days on market $31,000 Active 54 DOM
4. 2026-06-16
   days on market $31,000 Active 53 DOM
5. 2026-06-15
   days on market $31,000 Active 52 DOM
6. 2026-06-14
   days on market $31,000 Active 50 DOM
7. 2026-06-13
   days on market $31,000 Active 49 DOM
8. 2026-06-10
   days on market $31,000 Active 47 DOM
9. 2026-06-09
   days on market $31,000 Active 46 DOM
10. 2026-06-08
    days on market $31,000 Active 45 DOM
11. 2026-06-07
    days on market $31,000 Active 44 DOM
12. 2026-06-03
    days on market $31,000 Active 40 DOM
13. 2026-06-02
    days on market $31,000 Active 39 DOM
14. 2026-06-01
    days on market $31,000 Active 38 DOM
15. 2026-05-31
    price $31,000 Active 37 DOM
16. 2026-05-31
    days on market $31,900 Active 37 DOM
17. 2026-05-31
    days on market $31,900 Active 36 DOM
18. 2026-04-24
    listed $31,900 Active 747-char remark

ⓘ 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 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: $27,949
• − Mortgage interest: −$1,736
• − Property taxes: −$465
• − Insurance: −$155
• − Repairs & maintenance: −$2,236
• − Management: −$2,236
• − HOA: −$13,800
• − Depreciation: −$902
• Taxable income: $6,419
• Est. tax owed @ 24.0%: −$1,541
• After-tax cash flow: $4,168/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

-2.8% since first listed

2 events — show timeline

• 2026-05-31 Price Changed $31,000 MCRTC
• 2026-04-24 Listed $31,900 MCRTC