1600 SE Saint Lucie Blvd #114 · Stuart, FL 34996

$199,000

2 bd · 2.0 ba · 1,370 sqft · Condo public records · 43 Days on market

Built 1980 $145/sqft · 18% below area Est $244k · 18% under $800/mo HOA · 28% 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 +20.0/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• 1% rule +9.1/10.0
• DSCR +6.4/10.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Beautiful 2 Bed/2 Bath with 1,370 Sq Ft of Living Space. Kitchen has been upgraded with beautiful Cabinetry and Countertops. Impact windows in Kitchen and Guest Bedroom. AC 2016, Water Heater 2006. Washer and Dryer in Unit. The view from its spacious Lanai is beautiful and peaceful. All units in Banyan House have a huge additional storage area in the centers of the building to store Tools, Furniture, Bikes, Decorations, Files, etc. Come "Live the Dream" in the wonderful Community of Banyan House about 4 miles from Ocean Beaches, about 3 miles to Downtown Stuart, and right around the corner from Sailfish Sands Community Golf Course.

Key facts

• Upgraded cabinetry
• Spacious lanai
• Impact windows

Tags

• UPGRADED CABINETRY
• IMPACT WINDOWS
• HUGE ADDITIONAL STORAGE
• SPACIOUS LANAI
• CLOSE TO OCEAN BEACHES
• CLOSE TO DOWNTOWN STUART

Property features AI

Finance

• Other: Pets allowed with number and size limits
• HOA & community: Homeowners association with $800 monthly fee; HOA covers association management, common areas, cable TV, insurance, internet, legal/accounting, grounds maintenance, structure maintenance, parking, pools, recreation facilities, reserve fund, road maintenance, sewer, trash, and water

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Electricity connected (110V and 220V)
• Home design: 2-story building; Resale property; Block and concrete construction
• Construction: Block and concrete construction
• Exterior features: Community pool; Bicycle storage; Clubhouse with kitchen facilities; Library; Non-gated community; Pickleball courts; On-site property manager; Storage facilities; Tennis courts

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric) with individual controls; Central electric cooling
• Interior features: Unfurnished

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $193k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k 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 $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $75k; list at $199k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 28% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.41% ✓
• Cap rate: 7.77%
• Cash-on-cash: 5.29%
• DSCR: 1.24
• GRM: 5.9

CMA / ARV

• ARV (median comp): $243,748
• List price: $199,000
• Delta: -18.36%
• 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: 27.1%
• Equity multiple: 3.16×
• Total profit: $120,239
• Equity at exit: $179,275

10-year hold

• IRR: 23.8%
• Equity multiple: 7.21×
• Total profit: $346,014
• Equity at exit: $386,613

Cash invested: $55,720 (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 34996

• Home prices YoY: 2.1%
• Active inventory: 252
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,813 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$50 /mo · $599/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$800
• Vacancy / Maint / Mgmt: −$591
• Net cashflow: $179

Break-even live

Break-even rent $2,586

Max offer price $199,000

Occupancy floor 89%

Sensitivity live

Price	-10% $292	-5% $235	+0% $179	+5% $123	+10% $66
Rent	-10% $-43	-5% $68	+0% $179	+5% $290	+10% $401
Rate	-1.0pp $279	-0.5pp $230	base $179	+0.5pp $128	+1.0pp $75

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1800 SE Saint Lucie Blvd Stuart, FL	2.0	2.0	1044	$2,600	$2.49	25d	3	0.18mi
1843 SE Granada Ln Stuart, FL	2.0	2.0	1606	$1,800	$1.12	16d	1	0.29mi
1196 SE Saint Lucie Blvd Stuart, FL	2.0	2.0	1309	$4,300	$3.28	25d	1	0.31mi
2950 SE Ocean Blvd Stuart, FL	2.0	2.0	1157	$1,800	$1.56	16d	3	0.65mi
1866 SE Tarni Way Stuart, FL	3.0	2.5	1782	$2,800	$1.57	16d	1	0.68mi
2600 SE Ocean Blvd Stuart, FL	1.0–2.0	1.5–2.0	951	$1,900	$2.00	16d	3	0.69mi
3129 SE Indian St #3 Stuart, FL	2.0	1.5	986	$2,300	$2.33	25d	1	0.86mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	16d	8	0.88mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	25d	6	0.88mi
905 SE Flamingo Ave Stuart, FL	3.0	2.0	1520	$4,500	$2.96	25d	1	0.99mi
2929 SE Ocean Blvd Unit 130 Stuart, FL	2.0	2.0	1005	$1,800	$1.79	25d	1	1.04mi
300 SE Saint Lucie Blvd Stuart, FL	1.0–3.0	1.0–2.0	884	$2,258	$2.55	16d	12	1.17mi
3002 SE Camino Ave Stuart, FL	2.0	1.0	930	$2,000	$2.15	25d	1	1.23mi
3003 SE Birch Ave Unit 3007 Stuart, FL	2.0	1.0	950	$2,200	$2.32	25d	1	1.24mi
3299 SE Garden St Stuart, FL	3.0	2.0	1360	$2,410	$1.77	25d	1	1.27mi
2934 SE Ellendale St Stuart, FL	2.0	2.0	900	$2,000	$2.22	16d	1	1.30mi
2641 SE Clayton St Unit 2641 Stuart, FL	3.0	1.5	1150	$2,400	$2.09	25d	1	1.30mi
262 SE Monterey Ave Stuart, FL	3.0	1.0	1001	$3,500	$3.50	25d	1	1.30mi
3003 SE Fairmont St Stuart, FL	3.0	2.0	1366	$2,500	$1.83	16d	1	1.31mi
175 SE Saint Lucie Blvd Stuart, FL	2.0	2.0–2.5	1300	$2,600	$2.00	25d	4	1.38mi
150 SE Four Winds Dr Unit B303 Stuart, FL	2.0	2.0	1359	$2,500	$1.84	25d	1	1.49mi

HOA detail condo

• Monthly dues: $800 · $9,600/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $199,000 Active 43 DOM
2. 2026-06-18
   days on market $199,000 Active 40 DOM
3. 2026-06-17
   days on market $199,000 Active 39 DOM
4. 2026-06-16
   days on market $199,000 Active 38 DOM
5. 2026-06-15
   days on market $199,000 Active 37 DOM
6. 2026-06-14
   days on market $199,000 Active 35 DOM
7. 2026-06-13
   days on market $199,000 Active 34 DOM
8. 2026-06-10
   days on market $199,000 Active 32 DOM
9. 2026-06-09
   days on market $199,000 Active 31 DOM
10. 2026-06-08
    days on market $199,000 Active 30 DOM
11. 2026-06-07
    days on market $199,000 Active 29 DOM
12. 2026-06-03
    days on market $199,000 Active 25 DOM
13. 2026-06-02
    days on market $199,000 Active 24 DOM
14. 2026-06-01
    days on market $199,000 Active 23 DOM
15. 2026-05-31
    days on market $199,000 Active 22 DOM
16. 2026-05-31
    days on market $199,000 Active 21 DOM
17. 2026-05-09
    listed $199,000 Active 649-char remark
18. 1993-12-02
    soldstatus $75,000

ⓘ 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: $599 · $50/mo
• Projected year-2 tax: $1,652 · $138/mo
• Expected delta: +$1,053/yr (+$88/mo · 175.7%)

ⓘ 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 · 24 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: $33,751
• − Mortgage interest: −$11,147
• − Property taxes: −$599
• − Insurance: −$1,792
• − Repairs & maintenance: −$2,700
• − Management: −$2,700
• − HOA: −$9,600
• − Depreciation: −$5,789
• Taxable loss: −$577
• Est. tax savings @ 24.0%: +$138
• After-tax cash flow: $2,287/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

• 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

+165.3% since first listed

2 events — show timeline

• 2026-05-09 Listed $199,000 MCRTC
• 1993-12-02 Sold (Public Records) $75,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $599 · -0.5% YoY. Source: county tax records.