1225 NW 21st St #1904 · North River Shores, FL 34994

$99,000

1 bd · 1.0 ba · 631 sqft · Condo public records · 85 Days on market

Built 1977 $342/mo HOA · 21% of rent

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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 +29.5/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Outstanding Opportunity for this 55+ condo. This first floor one bedroom is a blank canvas just waiting for you to make it your own! One full bathroom with tub/shower combo. The oversized bedroom features a full wall of closets adjacent to your Florida room with floor-to-ceiling windows for relaxing and enjoying the Florida ambiance. Also has a walk-in closet for extra storage. This sale is subject to completion of Probate. Accordion shutters are in place. This is Active 55+ community in the Stuart/Jensen Beach area. Adjacent to North River Shores public golf course. Convenient location close to Treasure Coast Mall, restaurants, entertainment, etc. This is a beautiful, well-maintained community with lush landscape, walking paths, lakes, pool, clubhouse, library and so much more. No truck motorcycles or commercial vehicles. Must own for 2 years before renting. Showings will begin on March 16, 2026.

Key facts

• $342 HOA
• Community pool
• Built 1977

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $354 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $93k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 31% 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 $684 of loan paydown is wiped out by about $3k 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 85 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y ago; this cycle's ask is 10% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $72k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 21% 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 $93,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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. 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.
9. 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.
10. 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: 1.64% ✓
• Cap rate: 10.58%
• Cash-on-cash: 15.32%
• DSCR: 1.68
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 1.9%
• Equity multiple: 1.07×
• Total profit: $1,918
• Equity at exit: $14,761

10-year hold

• IRR: 7.5%
• Equity multiple: 1.47×
• Total profit: $13,048
• Equity at exit: $8,560

Cash invested: $27,720 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,619 high
• Mortgage (P&I): −$519
• Tax from tax record: −$23 /mo · $274/yr
• Insurance: −$41
• HOA: −$342
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $354

Break-even live

Break-even rent $1,171

Max offer price $99,000

Occupancy floor 73%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
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 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	$1,810	$1.68	14d	18	0.30mi
1900 NW Federal Hwy Stuart, FL	1.0–2.0	1.0–2.0	1013	$2,165	$2.14	14d	21	0.32mi
1010 NW Fresco Way Jensen Beach, FL	1.0–3.0	1.0–2.0	1011	$1,725	$1.71	14d	10	0.61mi
800 NW Fork Rd Stuart, FL	1.0–2.0	1.0–2.0	886	$1,800	$2.03	14d	2	1.13mi

HOA detail condo

• Monthly dues: $342 · $4,104/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-01
   days on market $99,000 Active 85 DOM
2. 2026-05-31
   days on market $99,000 Active 84 DOM
3. 2026-05-31
   days on market $99,000 Active 83 DOM
4. 2026-04-09
   price $99,000 911-char remark

   Show marketing remark (911 chars)

   Outstanding Opportunity for this 55+ condo. This first floor one bedroom is a blank canvas just waiting for you to make it your own! One full bathroom with tub/shower combo. The oversized bedroom features a full wall of closets adjacent to your Florida room with floor-to-ceiling windows for relaxing and enjoying the Florida ambiance. Also has a walk-in closet for extra storage. This sale is subject to completion of Probate. Accordion shutters are in place. This is Active 55+ community in the Stuart/Jensen Beach area. Adjacent to North River Shores public golf course. Convenient location close to Treasure Coast Mall, restaurants, entertainment, etc. This is a beautiful, well-maintained community with lush landscape, walking paths, lakes, pool, clubhouse, library and so much more. No truck motorcycles or commercial vehicles. Must own for 2 years before renting. Showings will begin on March 16, 2026.

5. 2026-04-09
   status Active 911-char remark

   Show marketing remark (911 chars)

   Outstanding Opportunity for this 55+ condo. This first floor one bedroom is a blank canvas just waiting for you to make it your own! One full bathroom with tub/shower combo. The oversized bedroom features a full wall of closets adjacent to your Florida room with floor-to-ceiling windows for relaxing and enjoying the Florida ambiance. Also has a walk-in closet for extra storage. This sale is subject to completion of Probate. Accordion shutters are in place. This is Active 55+ community in the Stuart/Jensen Beach area. Adjacent to North River Shores public golf course. Convenient location close to Treasure Coast Mall, restaurants, entertainment, etc. This is a beautiful, well-maintained community with lush landscape, walking paths, lakes, pool, clubhouse, library and so much more. No truck motorcycles or commercial vehicles. Must own for 2 years before renting. Showings will begin on March 16, 2026.

6. 2026-03-22
   historical Active Under Contract 911-char remark

   Show marketing remark (911 chars)

   Outstanding Opportunity for this 55+ condo. This first floor one bedroom is a blank canvas just waiting for you to make it your own! One full bathroom with tub/shower combo. The oversized bedroom features a full wall of closets adjacent to your Florida room with floor-to-ceiling windows for relaxing and enjoying the Florida ambiance. Also has a walk-in closet for extra storage. This sale is subject to completion of Probate. Accordion shutters are in place. This is Active 55+ community in the Stuart/Jensen Beach area. Adjacent to North River Shores public golf course. Convenient location close to Treasure Coast Mall, restaurants, entertainment, etc. This is a beautiful, well-maintained community with lush landscape, walking paths, lakes, pool, clubhouse, library and so much more. No truck motorcycles or commercial vehicles. Must own for 2 years before renting. Showings will begin on March 16, 2026.

7. 2026-03-08
   listed $90,000 Active 911-char remark

   Show marketing remark (911 chars)

   Outstanding Opportunity for this 55+ condo. This first floor one bedroom is a blank canvas just waiting for you to make it your own! One full bathroom with tub/shower combo. The oversized bedroom features a full wall of closets adjacent to your Florida room with floor-to-ceiling windows for relaxing and enjoying the Florida ambiance. Also has a walk-in closet for extra storage. This sale is subject to completion of Probate. Accordion shutters are in place. This is Active 55+ community in the Stuart/Jensen Beach area. Adjacent to North River Shores public golf course. Convenient location close to Treasure Coast Mall, restaurants, entertainment, etc. This is a beautiful, well-maintained community with lush landscape, walking paths, lakes, pool, clubhouse, library and so much more. No truck motorcycles or commercial vehicles. Must own for 2 years before renting. Showings will begin on March 16, 2026.

8. 2026-02-17
   historical $90,000 911-char remark

   Show marketing remark (911 chars)

   Outstanding Opportunity for this 55+ condo. This first floor one bedroom is a blank canvas just waiting for you to make it your own! One full bathroom with tub/shower combo. The oversized bedroom features a full wall of closets adjacent to your Florida room with floor-to-ceiling windows for relaxing and enjoying the Florida ambiance. Also has a walk-in closet for extra storage. This sale is subject to completion of Probate. Accordion shutters are in place. This is Active 55+ community in the Stuart/Jensen Beach area. Adjacent to North River Shores public golf course. Convenient location close to Treasure Coast Mall, restaurants, entertainment, etc. This is a beautiful, well-maintained community with lush landscape, walking paths, lakes, pool, clubhouse, library and so much more. No truck motorcycles or commercial vehicles. Must own for 2 years before renting. Showings will begin on March 16, 2026.

9. 2020-04-03
   soldstatus $72,000
10. 2020-04-02
    soldstatus $72,000 Closed 575-char remark

    Show marketing remark (575 chars)

    Move in today to your 1 bedroom 1 bath first floor condo completely furnished. All you need is your personal belongings. Your parking place is just out your backdoor so it is easy to bring in the groceries. Vista Del Lago is an active adult community that offers an olympic style pool, exercise classes, billiards, workshop and much more. The community is close to the Treasure Coast Mall, lots of restaurants and just minutes from the beautiful beaches of Hutchinson Island. Historic downtown Stuart is close by with shopping, dining and shows at the Historic Lyric Theatre.

11. 2020-02-28
    status Pending 575-char remark

    Show marketing remark (575 chars)

    Move in today to your 1 bedroom 1 bath first floor condo completely furnished. All you need is your personal belongings. Your parking place is just out your backdoor so it is easy to bring in the groceries. Vista Del Lago is an active adult community that offers an olympic style pool, exercise classes, billiards, workshop and much more. The community is close to the Treasure Coast Mall, lots of restaurants and just minutes from the beautiful beaches of Hutchinson Island. Historic downtown Stuart is close by with shopping, dining and shows at the Historic Lyric Theatre.

12. 2020-02-13
    listed $75,000 Active 575-char remark

    Show marketing remark (575 chars)

    Move in today to your 1 bedroom 1 bath first floor condo completely furnished. All you need is your personal belongings. Your parking place is just out your backdoor so it is easy to bring in the groceries. Vista Del Lago is an active adult community that offers an olympic style pool, exercise classes, billiards, workshop and much more. The community is close to the Treasure Coast Mall, lots of restaurants and just minutes from the beautiful beaches of Hutchinson Island. Historic downtown Stuart is close by with shopping, dining and shows at the Historic Lyric Theatre.

13. 2016-01-11
    price $41,000
14. 2016-01-11
    price $25,000
15. 2014-06-24
    soldstatus $41,000
16. 2014-06-18
    soldstatus $41,000
17. 2014-06-18
    price $45,000
18. 2014-03-23
    listed $45,000
19. 2011-03-17
    soldstatus $25,000
20. 2011-03-01
    soldstatus $25,000
21. 2011-03-01
    price $29,900
22. 2010-12-28
    listed $29,900
23. 2010-02-23
    soldstatus $33,000
24. 1998-04-17
    soldstatus $29,000

ⓘ 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: $274 · $23/mo
• Projected year-2 tax: $822 · $68/mo
• Expected delta: +$547/yr (+$46/mo · 199.4%)

ⓘ 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 · 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: $19,429
• − Mortgage interest: −$5,546
• − Property taxes: −$274
• − Insurance: −$495
• − Repairs & maintenance: −$1,554
• − Management: −$1,554
• − HOA: −$4,104
• − Depreciation: −$2,880
• Taxable income: $3,021
• Est. tax owed @ 24.0%: −$725
• After-tax cash flow: $3,520/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 — 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

+241.4% since first listed

21 events — show timeline

• 2026-04-09 Price Changed $99,000 Beaches MLS
• 2026-04-09 Relisted — Beaches MLS
• 2026-03-22 Contingent — Beaches MLS
• 2026-03-08 Listed $90,000 Beaches MLS
• 2026-02-17 Coming Soon $90,000 Beaches MLS
• 2020-04-03 Sold (Public Records) $72,000 Public Records
• 2020-04-02 Sold (MLS) $72,000 Beaches MLS
• 2020-02-28 Pending — Beaches MLS
• 2020-02-13 Listed $75,000 Beaches MLS
• 2016-01-11 Price Changed $25,000 MCRTC
• 2016-01-11 Price Changed $41,000 MCRTC
• 2014-06-24 Sold (Public Records) $41,000 Public Records
• 2014-06-18 Price Changed $45,000 MCRTC
• 2014-06-18 Sold (MLS) $41,000 MCRTC
• 2014-03-23 Listed $45,000 MCRTC
• 2011-03-17 Sold (Public Records) $25,000 Public Records
• 2011-03-01 Price Changed $29,900 MCRTC
• 2011-03-01 Sold (MLS) $25,000 MCRTC
• 2010-12-28 Listed $29,900 MCRTC
• 2010-02-23 Sold (Public Records) $33,000 Public Records
• 1998-04-17 Sold (Public Records) $29,000 Public Records

Property tax history

-3.2%/yr

Latest (2025): $274 · -5.7% YoY. Source: county tax records.