16426 SW Three Wood Way Unit P-07

Indiantown, FL 34956

$134,900B+

2 bd · 2.0 ba · 804 sqft · Built 2026 · Manufactured · Active · 109 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,834/mo
• Mortgage (P&I): −$707
• Tax + insurance: −$225
• HOA: −$0
• Vac / Maint / Mgmt: −$385
• Net cashflow: $516/mo
• Annual: $6,195/yr
• Cap rate: 10.89%
• Cash-on-cash: 16.40%
• DSCR: 1.73
• 1% rule: 1.36%
• Cash to close: $37,772

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $135k. Condition is rated poor.
• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• It's been on market 109 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.
• In year one you build about $10k of equity ($933 loan paydown + $9k appreciation (6.7% local appreciation)).
• 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: schools F, 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: 136 active listings in the ZIP; 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).
• 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 $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.

Questions for listing agent

• It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — No visible photos of the roof.
• Major: exterior siding — No visible photos of the exterior siding.
• Major: interior walls/paint — No visible photos of the interior walls/paint.
• Major: HVAC/mechanicals — No visible photos of the HVAC/mechanicals.
• Major: landscaping — No visible photos of the landscaping/curb appeal.