2929 SE Ocean Blvd Unit 104-9 · Stuart, FL 34996

$129,900

1 bd · 1.5 ba · 696 sqft · Condo public records · 303 Days on market

Built 1970 $187/sqft · 17% above area Est $111k · 17% over $460/mo HOA · 24% 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 +21.7/30.0
• Appreciation +10.0/10.0
• 1% rule +9.8/10.0
• DSCR +6.9/10.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Nicely decorated condo in Village 6 of Cedar Pointe Condominiums. Wood look laminate flooring throughout. Primary bathroom has tub/shower combination. Bathroom fixtures are newer. Property is being sold fully furnished. Move in ready, just bring your personal belongings. Unit is fully furnished with dishes, glasses, linens and towels. Located close to local beaches, public golf course nearby, downtown Stuart less than 10 minutes away. Private screened lanai overlooking Florida vegetation for privacy. Low HOA fees with a nice clubhouse and pool area. Ready to move right in and start enjoying the Florida life.

Key facts

• $460 HOA
• Community pool
• Built 1970

Tags

• WOOD LOOK LAMINATE FLOORING
• TUB SHOWER COMBINATION
• NEWER BATHROOM FIXTURES
• PRIVATE SCREENED LANAI
• CLOSE TO LOCAL BEACHES
• PUBLIC GOLF COURSE NEARBY

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $133 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.

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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $14k of equity ($898 loan paydown + $13k 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 $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 303 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y ago; this cycle's ask is 8560% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $50k; list at $130k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 24% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 303 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.48% ✓
• Cap rate: 8.14%
• Cash-on-cash: 6.60%
• DSCR: 1.29
• GRM: 5.6

CMA / ARV

• ARV (median comp): $110,818
• List price: $129,900
• Delta: 17.22%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 27.6%
• Equity multiple: 3.19×
• Total profit: $79,573
• Equity at exit: $117,024

10-year hold

• IRR: 24.1%
• Equity multiple: 7.28×
• Total profit: $228,297
• Equity at exit: $252,367

Cash invested: $36,372 (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: 5.6×

Monthly cashflow live

• Estimated rent: $1,919 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$121 /mo · $1,449/yr
• Insurance: −$54
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$460
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $133

Break-even live

Break-even rent $1,750

Max offer price $129,900

Occupancy floor 88%

Sensitivity live

Price	-10% $207	-5% $170	+0% $133	+5% $97	+10% $60
Rent	-10% $-18	-5% $58	+0% $133	+5% $209	+10% $285
Rate	-1.0pp $199	-0.5pp $166	base $133	+0.5pp $100	+1.0pp $66

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$1,450	$1.79	15d	8	0.11mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$1,500	$1.85	25d	6	0.11mi
300 SE Saint Lucie Blvd Stuart, FL	1.0–3.0	1.0–2.0	884	$1,789	$2.02	15d	12	0.28mi

HOA detail condo

• Monthly dues: $460 · $5,520/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-21
   days on market $129,900 Active 303 DOM
2. 2026-06-18
   days on market $129,900 Active 300 DOM
3. 2026-06-17
   days on market $129,900 Active 299 DOM
4. 2026-06-16
   days on market $129,900 Active 298 DOM
5. 2026-06-15
   days on market $129,900 Active 297 DOM
6. 2026-06-14
   days on market $129,900 Active 295 DOM
7. 2026-06-13
   days on market $129,900 Active 294 DOM
8. 2026-06-10
   days on market $129,900 Active 292 DOM
9. 2026-06-09
   days on market $129,900 Active 291 DOM
10. 2026-06-08
    days on market $129,900 Active 290 DOM
11. 2026-06-07
    days on market $129,900 Active 289 DOM
12. 2026-06-03
    days on market $129,900 Active 285 DOM
13. 2026-06-02
    days on market $129,900 Active 284 DOM
14. 2026-06-01
    days on market $129,900 Active 283 DOM
15. 2026-05-31
    days on market $129,900 Active 282 DOM
16. 2026-05-31
    days on market $129,900 Active 281 DOM
17. 2025-08-25
    listed $1,500
18. 2025-08-20
    listed $129,900 Active 615-char remark

    Show marketing remark (615 chars)

    Nicely decorated condo in Village 6 of Cedar Pointe Condominiums. Wood look laminate flooring throughout. Primary bathroom has tub/shower combination. Bathroom fixtures are newer. Property is being sold fully furnished. Move in ready, just bring your personal belongings. Unit is fully furnished with dishes, glasses, linens and towels. Located close to local beaches, public golf course nearby, downtown Stuart less than 10 minutes away. Private screened lanai overlooking Florida vegetation for privacy. Low HOA fees with a nice clubhouse and pool area. Ready to move right in and start enjoying the Florida life.

19. 2025-04-30
    historical
20. 2024-05-08
    listed $159,900 Active
21. 2016-12-19
    price $50,000
22. 2016-12-16
    soldstatus $50,000
23. 2016-12-14
    price $55,000
24. 2016-12-14
    soldstatus $50,000 Sold
25. 2016-11-22
    historical Back Up - Call List Agent
26. 2016-11-03
    listed $55,000 Active
27. 2005-06-01
    soldstatus $85,900
28. 2005-05-17
    price $89,900
29. 2005-05-17
    soldstatus $85,900
30. 2005-02-18
    listed $85,900
31. 2000-07-11
    historical
32. 2000-02-11
    listed $36,900

ⓘ 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: $1,449 · $121/mo
• Projected year-2 tax: $1,449 · $121/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) · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 26 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: $23,027
• − Mortgage interest: −$7,276
• − Property taxes: −$1,449
• − Insurance: −$1,447
• − Repairs & maintenance: −$1,842
• − Management: −$1,842
• − HOA: −$5,520
• − Depreciation: −$3,779
• Taxable loss: −$128
• Est. tax savings @ 24.0%: +$31
• After-tax cash flow: $1,632/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

-95.9% since first listed

16 events — show timeline

• 2025-08-25 Listed for Rent $1,500 MCRTC
• 2025-08-20 Listed $129,900 MCRTC
• 2025-04-30 Listing Removed — MCRTC
• 2024-05-08 Listed $159,900 MCRTC
• 2016-12-19 Price Changed $50,000 MCRTC
• 2016-12-16 Sold (Public Records) $50,000 Public Records
• 2016-12-14 Sold (MLS) $50,000 MCRTC
• 2016-12-14 Price Changed $55,000 MCRTC
• 2016-11-22 Contingent — MCRTC
• 2016-11-03 Listed $55,000 MCRTC
• 2005-06-01 Sold (Public Records) $85,900 Public Records
• 2005-05-17 Sold (MLS) $85,900 MCRTC
• 2005-05-17 Price Changed $89,900 MCRTC
• 2005-02-18 Listed $85,900 MCRTC
• 2000-07-11 Listing Removed — MCRTC
• 2000-02-11 Listed $36,900 MCRTC

Property tax history

+11.4%/yr

Latest (2025): $1,449 · +1.8% YoY. Source: county tax records.