166 SE St Lucie Blvd # Un Unit D-203 · Stuart, FL 34996

$169,000

2 bd · 2.0 ba · 1,351 sqft · Condo public records · 95 Days on market

Built 1984 $125/sqft · 37% below area Est $270k · 37% under $1233/mo HOA · 43% of rent ↓ 11% 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).

• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• Appreciation +10.0/10.0
• Cash flow +7.5/30.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0

Listing remarks MLS

Discover this secured-entry, second-floor condo in St. Lucie Club, a well-maintained 55+ community in the heart of Stuart. This 2-bedroom, 2-bath residence offers a spacious layout with in-unit laundry, elevator access, and gated under-building garage parking with additional storage. Enjoy peaceful views of the lake, pool, and surrounding green space from the large screened porch—perfect for relaxing or entertaining. Community amenities include a heated pool, tennis courts, and private BBQ area. Ideally located just minutes from downtown Stuart and local beaches, this property offers both convenience and lifestyle. Some components have been updated, including a newer A/C and water heater. Maintenance fees cover exterior maintenance, landscaping, water, trash, and access to all community amenities. Owner is responsible for electric and interior insurance.

Key facts

• Private bbq area
• In-unit laundry
• Tennis courts

Tags

• IN-UNIT LAUNDRY
• ELEVATOR ACCESS
• LARGE SCREENED PORCH
• HEATED POOL
• TENNIS COURTS
• PRIVATE BBQ AREA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $169k.

Deal economics

• At list price, monthly cash flow is $-213 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $131k (22.2% below list).
• Meets the 1% rule at list price ($3k rent vs $169k).
• Recommended offer: $131k (22.2% below list) — sets the bar for cash-flow.
• Cap rate 4.8% vs local median 3.5% 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.
• Zoned schools: J. D. Parker School of Technology (math 39% / reading 40%, grade F, #1,513 of 2,144 statewide, top 73%, 519 students, 72% FRL); Stuart Middle School (math 55% / reading 55%, grade B-, #180 of 571 statewide, top 32%, 867 students, 49% FRL); Jensen Beach High School (math 53% / reading 71%, grade B-, #98 of 667 statewide, top 15%, 1,584 students, 36% FRL).
• Market conditions: 252 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 41% 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 $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Martin County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($154k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent.
• Climate carrying-cost: moderate 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 $131,444 (22.2% 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 95 days. Have you received any prior offers? Is the seller open to a 22% 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. 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: 1.71% ✓
• Cap rate: 4.78%
• Cash-on-cash: -5.39%
• DSCR: 0.76
• GRM: 4.9

CMA / ARV

• ARV (median comp): $270,319
• List price: $169,000
• Delta: -37.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 20.7%
• Equity multiple: 2.68×
• Total profit: $79,358
• Equity at exit: $152,249

10-year hold

• IRR: 18.9%
• Equity multiple: 6.20×
• Total profit: $246,048
• Equity at exit: $328,330

Cash invested: $47,320 (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 34996

• Home prices YoY: 2.1%
• Active inventory: 252
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,884 high
• Mortgage (P&I): −$886
• Tax from tax record: −$301 /mo · $3,618/yr
• Insurance: −$70
• HOA: −$1,233
• Vacancy / Maint / Mgmt: −$606
• Net cashflow: $-213

Break-even live

Break-even rent $3,153

Max offer price $131,444

Occupancy floor —

Sensitivity live

Price	-10% $-117	-5% $-165	+0% $-213	+5% $-260	+10% $-308
Rent	-10% $-440	-5% $-327	+0% $-213	+5% $-99	+10% $15
Rate	-1.0pp $-127	-0.5pp $-170	base $-213	+0.5pp $-256	+1.0pp $-301

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 SE Saint Lucie Blvd Stuart, FL	1.0–3.0	1.0–2.0	884	$2,258	$2.55	15d	12	0.12mi
175 SE Saint Lucie Blvd Stuart, FL	2.0	2.0–2.5	1300	$2,600	$2.00	25d	4	0.12mi
262 SE Monterey Ave Stuart, FL	3.0	1.0	1001	$3,500	$3.50	25d	1	0.18mi
150 SE Four Winds Dr Unit B303 Stuart, FL	2.0	2.0	1359	$2,500	$1.84	25d	1	0.31mi
2929 SE Ocean Blvd Unit 130 Stuart, FL	2.0	2.0	1005	$1,800	$1.79	25d	1	0.35mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	25d	6	0.50mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	15d	8	0.50mi
2600 SE Ocean Blvd Stuart, FL	1.0–2.0	1.5–2.0	951	$1,900	$2.00	15d	3	0.58mi
905 SE Flamingo Ave Stuart, FL	3.0	2.0	1520	$4,500	$2.96	25d	1	0.62mi
1866 SE Tarni Way Stuart, FL	3.0	2.5	1782	$2,800	$1.57	15d	1	0.65mi
2950 SE Ocean Blvd Stuart, FL	2.0	2.0	1157	$1,800	$1.56	15d	3	0.71mi
217 SE Coconut Ave Stuart, FL	2.0	1.0	1197	$5,000	$4.18	25d	1	0.77mi
1196 SE Saint Lucie Blvd Stuart, FL	2.0	2.0	1309	$4,300	$3.28	25d	1	1.00mi
1800 SE Saint Lucie Blvd Stuart, FL	2.0	2.0	1044	$2,600	$2.49	25d	3	1.44mi
1600 NE Dixie Hwy Unit 10-203 Jensen Beach, FL	2.0	2.0	1072	$2,300	$2.15	25d	1	1.48mi

HOA detail condo

• Monthly dues: $1,233 · $14,796/yr
• Likely covers: watertrashelectriclandscapingexterior maint.poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $169,000 Active 95 DOM
2. 2026-06-18
   days on market $169,000 Active 92 DOM
3. 2026-06-17
   days on market $169,000 Active 91 DOM
4. 2026-06-16
   days on market $169,000 Active 90 DOM
5. 2026-06-15
   days on market $169,000 Active 89 DOM
6. 2026-06-14
   days on market $169,000 Active 87 DOM
7. 2026-06-13
   days on market $169,000 Active 86 DOM
8. 2026-06-10
   days on market $169,000 Active 84 DOM
9. 2026-06-09
   days on market $169,000 Active 83 DOM
10. 2026-06-08
    days on market $169,000 Active 82 DOM
11. 2026-06-07
    days on market $169,000 Active 81 DOM
12. 2026-06-03
    days on market $169,000 Active 77 DOM
13. 2026-06-02
    days on market $169,000 Active 76 DOM
14. 2026-06-01
    days on market $169,000 Active 75 DOM
15. 2026-05-31
    days on market $169,000 Active 74 DOM
16. 2026-05-31
    days on market $169,000 Active 73 DOM
17. 2026-05-14
    price $169,000 872-char remark

    Show marketing remark (872 chars)

    Discover this secured-entry, second-floor condo in St. Lucie Club, a well-maintained 55+ community in the heart of Stuart. This 2-bedroom, 2-bath residence offers a spacious layout with in-unit laundry, elevator access, and gated under-building garage parking with additional storage. Enjoy peaceful views of the lake, pool, and surrounding green space from the large screened porch—perfect for relaxing or entertaining. Community amenities include a heated pool, tennis courts, and private BBQ area. Ideally located just minutes from downtown Stuart and local beaches, this property offers both convenience and lifestyle. Some components have been updated, including a newer A/C and water heater. Maintenance fees cover exterior maintenance, landscaping, water, trash, and access to all community amenities. Owner is responsible for electric and interior insurance.

18. 2026-04-28
    price $176,000 872-char remark

    Show marketing remark (872 chars)

    Discover this secured-entry, second-floor condo in St. Lucie Club, a well-maintained 55+ community in the heart of Stuart. This 2-bedroom, 2-bath residence offers a spacious layout with in-unit laundry, elevator access, and gated under-building garage parking with additional storage. Enjoy peaceful views of the lake, pool, and surrounding green space from the large screened porch—perfect for relaxing or entertaining. Community amenities include a heated pool, tennis courts, and private BBQ area. Ideally located just minutes from downtown Stuart and local beaches, this property offers both convenience and lifestyle. Some components have been updated, including a newer A/C and water heater. Maintenance fees cover exterior maintenance, landscaping, water, trash, and access to all community amenities. Owner is responsible for electric and interior insurance.

19. 2026-04-06
    price $185,250 872-char remark

    Show marketing remark (872 chars)

    Discover this secured-entry, second-floor condo in St. Lucie Club, a well-maintained 55+ community in the heart of Stuart. This 2-bedroom, 2-bath residence offers a spacious layout with in-unit laundry, elevator access, and gated under-building garage parking with additional storage. Enjoy peaceful views of the lake, pool, and surrounding green space from the large screened porch—perfect for relaxing or entertaining. Community amenities include a heated pool, tennis courts, and private BBQ area. Ideally located just minutes from downtown Stuart and local beaches, this property offers both convenience and lifestyle. Some components have been updated, including a newer A/C and water heater. Maintenance fees cover exterior maintenance, landscaping, water, trash, and access to all community amenities. Owner is responsible for electric and interior insurance.

20. 2026-03-18
    listed $190,000 Active 872-char remark

    Show marketing remark (872 chars)

    Discover this secured-entry, second-floor condo in St. Lucie Club, a well-maintained 55+ community in the heart of Stuart. This 2-bedroom, 2-bath residence offers a spacious layout with in-unit laundry, elevator access, and gated under-building garage parking with additional storage. Enjoy peaceful views of the lake, pool, and surrounding green space from the large screened porch—perfect for relaxing or entertaining. Community amenities include a heated pool, tennis courts, and private BBQ area. Ideally located just minutes from downtown Stuart and local beaches, this property offers both convenience and lifestyle. Some components have been updated, including a newer A/C and water heater. Maintenance fees cover exterior maintenance, landscaping, water, trash, and access to all community amenities. Owner is responsible for electric and interior insurance.

ⓘ 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: $3,618 · $301/mo
• Projected year-2 tax: $3,618 · $301/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 5/10 Major FEMA zone X (unshaded) · 23% 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: $34,611
• − Mortgage interest: −$9,467
• − Property taxes: −$3,618
• − Insurance: −$845
• − Repairs & maintenance: −$2,769
• − Management: −$2,769
• − HOA: −$14,796
• − Depreciation: −$4,916
• Taxable loss: −$4,569
• Est. tax savings @ 24.0%: +$1,096
• After-tax cash flow: $-1,455/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

-11.1% since first listed

4 events — show timeline

• 2026-05-14 Price Changed $169,000 MARMLS
• 2026-04-28 Price Changed $176,000 MARMLS
• 2026-04-06 Price Changed $185,250 MARMLS
• 2026-03-18 Listed $190,000 MARMLS

Property tax history

+8.5%/yr

Latest (2025): $3,618 · +5.4% YoY. Source: county tax records.