2950 SE Ocean Blvd Unit 122-6 · Stuart, FL 34996

$217,000

2 bd · 2.0 ba · 1,236 sqft · Condo public records · 17 Days on market

Built 1988 $619/mo HOA · 23% of rent

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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 +15.5/30.0
• Appreciation +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

You want perfection, this is it. Located in Kingswood Phase 3, this unit has a covered carport and Washer and Dryer in the Unit. The whole 2 Bedroom, 2 Bath, second floor Condo has been extensively upgraded - Huge Open Kitchen, new baths and beautiful flooring throughout (except Guest Bedroom). Kingswood Phase 3 has a 2 year rental restriction from the date of ownership. Come "Live the Dream" in the socially active Community of Kingswood Phase 3, conveniently located about 2 miles from Downtown Stuart and about 3 miles from Ocean Beaches.

Key facts

• Covered carport
• Nature views
• Furnished

Tags

• TOP FLOOR
• ENCLOSED ALL SEASON ROOM
• NATURE VIEWS
• FURNISHED
• COVERED CARPORT
• HEATED SWIMMING POOL

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Has homeowners association; Monthly association fee of $619; Association fee includes management, cable TV, insurance, internet, grounds maintenance, structure maintenance, reserve fund, road maintenance, sewer and water

Exterior

• Parking: 1 total parking space; 1 covered parking space
• Utilities: Electricity connected (110V and 220V)
• Home design: Two-story property; Resale construction
• Construction: Block and concrete construction
• Exterior features: Community pool; Barbecue area; Bocce court; Clubhouse; Shuffleboard; Non-gated community; On-site property manager

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Impact glass windows; High ceilings; Open living/dining area; Furnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $217k.

Deal economics

• At list price, monthly cash flow is $22 ($269/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $217k).
• Recommended offer: $214k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 4.1% in Stuart — 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 84/100 on livability (#39 in FL, #790 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: crime C-, employment C-, amenities D.
• 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: 251 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).
• This rent runs 39% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $23k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Martin County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $61k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($214k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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

• Watch-outs: flood insurance adds $66/mo; HOA is 23% of rent.
• Climate carrying-cost: major flood risk; 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 $213,745 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.27% ✓
• Cap rate: 6.78%
• Cash-on-cash: 1.76%
• DSCR: 1.08
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.7%
• Equity multiple: 2.98×
• Total profit: $120,053
• Equity at exit: $195,491

10-year hold

• IRR: 21.9%
• Equity multiple: 6.81×
• Total profit: $353,287
• Equity at exit: $421,583

Cash invested: $60,760 (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 34996

• Home prices YoY: 2.1%
• Active inventory: 251
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,747 high
• Mortgage (P&I): −$1,138
• Tax from tax record: −$234 /mo · $2,805/yr
• Insurance: −$90
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$619
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $22

Break-even live

Break-even rent $2,719

Max offer price $217,000

Occupancy floor 94%

Sensitivity live

Price	-10% $145	-5% $84	+0% $22	+5% $-39	+10% $-100
Rent	-10% $-195	-5% $-86	+0% $22	+5% $131	+10% $239
Rate	-1.0pp $132	-0.5pp $78	base $22	+0.5pp $-34	+1.0pp $-91

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: $54,250
• Closing costs: $6,510
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2950 SE Ocean Blvd Stuart, FL	2.0	2.0	1157	$1,800	$1.56	14d	3	0.15mi
2600 SE Ocean Blvd Stuart, FL	1.0–2.0	1.5–2.0	951	$1,900	$2.00	14d	3	0.22mi
1196 SE Saint Lucie Blvd Stuart, FL	2.0	2.0	1309	$4,300	$3.28	24d	1	0.22mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	14d	8	0.37mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	24d	6	0.37mi
2929 SE Ocean Blvd Unit 130 Stuart, FL	2.0	2.0	1005	$1,800	$1.79	24d	1	0.52mi
300 SE Saint Lucie Blvd Stuart, FL	1.0–3.0	1.0–2.0	884	$2,258	$2.55	14d	12	0.67mi
1800 SE Saint Lucie Blvd Stuart, FL	2.0	2.0	1044	$2,600	$2.49	24d	3	0.70mi
262 SE Monterey Ave Stuart, FL	3.0	1.0	1001	$3,500	$3.50	24d	1	0.79mi
175 SE Saint Lucie Blvd Stuart, FL	2.0	2.0–2.5	1300	$2,600	$2.00	24d	4	0.88mi
333 SE Martin Ave Unit 1F Stuart, FL	2.0	1.0	778	$1,800	$2.31	24d	1	0.90mi
150 SE Four Winds Dr Unit B303 Stuart, FL	2.0	2.0	1359	$2,500	$1.84	24d	1	0.97mi
3129 SE Indian St #3 Stuart, FL	2.0	1.5	986	$2,300	$2.33	24d	1	1.35mi
217 SE Coconut Ave Stuart, FL	2.0	1.0	1197	$5,000	$4.18	24d	1	1.40mi

HOA detail condo

• Monthly dues: $619 · $7,428/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-18
   days on market $217,000 Active 17 DOM
2. 2026-06-17
   days on market $217,000 Active 16 DOM
3. 2026-06-16
   days on market $217,000 Active 15 DOM
4. 2026-06-15
   days on market $217,000 Active 14 DOM
5. 2026-06-14
   days on market $217,000 Active 12 DOM
6. 2026-06-13
   days on market $217,000 Active 11 DOM
7. 2026-06-10
   days on market $217,000 Active 9 DOM
8. 2026-06-09
   days on market $217,000 Active 8 DOM
9. 2026-06-08
   days on market $217,000 Active 7 DOM
10. 2026-06-07
    days on market $217,000 Active 6 DOM
11. 2026-06-03
    days on market $217,000 Active 2 DOM
12. 2026-06-02
    remarks 693-char remark
13. 2026-06-02
    listed $217,000 Active 1 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: $2,805 · $234/mo
• Projected year-2 tax: $2,805 · $234/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 7/10 Severe FEMA zone X (unshaded) · 74% 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,963
• − Mortgage interest: −$12,155
• − Property taxes: −$2,805
• − Insurance: −$1,882
• − Repairs & maintenance: −$2,637
• − Management: −$2,637
• − HOA: −$7,428
• − Depreciation: −$6,313
• Taxable loss: −$2,895
• Est. tax savings @ 24.0%: +$695
• After-tax cash flow: $964/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 — Stuart

• Score: 84/100
• State rank: #39
• US rank: #790

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stuart, FL
• County: Martin County · 165,223 people
• City population: 65,812
• Metro: Port St. Lucie, FL
• Population (ZIP): 10,653
• Household income: $83,929
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 247.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Italian 3% Romanian 3% Slovak 3%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 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: ▲ 13.71%
• Current HPI: 658.96
• Rent YoY: —
• 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

+334.0% since first listed

11 events — show timeline

• 2026-06-01 Listed $217,000 MCRTC
• 2024-04-17 Sold (Public Records) $240,000 Public Records
• 2024-04-15 Sold (MLS) $240,000 MCRTC
• 2024-03-19 Pending — MCRTC
• 2024-03-05 Listed $249,000 MCRTC
• 2019-10-25 Sold (MLS) $100,000 Beaches MLS
• 2019-09-13 Pending — Beaches MLS
• 2019-09-06 Price Changed $100,000 Beaches MLS
• 2019-08-23 Listed $115,000 Beaches MLS
• 1994-06-30 Sold (Public Records) $56,000 Public Records
• 1990-09-07 Sold (Public Records) $50,000 Public Records

Property tax history

+18.2%/yr

Latest (2025): $2,805 · +132.4% YoY. Source: county tax records.