16235 SW Indianwood Cir · Indiantown, FL 34956

$37,000

2 bd · 1.0 ba · 1,402 sqft · Condo public records · 735 Days on market

Built 1990 $26/sqft · 25% above area Est $30k · 25% over ↓ 50% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• Appreciation +8.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Golf cart & BBQ grill are included in the sale. A/C unit is only @ 2 yrs old. Cozy furnished 2 bedroom, 2 bath home ready for you to move in to. Get ready to enjoy Florida. Take the golf cart out to enjoy all of the amenities that the community has to offer. 2 community pools, recreational center, fitness room, tennis courts, shuffleboard, bocce ball and pickleball. Public golf course, pro shop and a sit-down restaurant offering indoor & outdoor seating, a full liquor license with golf course & lake view. Pet friendly community with restrictions. Land lease, you do not own the land, no rentals allowed. THIS IS A 55+ COMMUNITY. Land lease is $1304.00 a month and includes Lawn care, recreational facilities, management and common areas, taxes, common area insurance and Internet & TV.

Key facts

• Community amenities
• Bbq grill included
• Public golf course

Tags

• GOLF CART INCLUDED
• BBQ GRILL INCLUDED
• A/C UNIT 2 YRS OLD
• COMMUNITY AMENITIES
• PUBLIC GOLF COURSE
• PET FRIENDLY COMMUNITY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $37k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $37k).
• Recommended offer: $33k (12.0% below list) — sets the bar for market timing.
• Cap rate 55.3% vs local median 10.9% in Indiantown — 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 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: 135 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($256 loan paydown + $2k appreciation (6.7% local appreciation)).
• 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 735 days — a 12% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $12k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price.
• 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.

Recommended offer $32,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 735 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 6.31% ✓
• Cap rate: 55.33%
• Cash-on-cash: 175.14%
• DSCR: 8.79
• GRM: 1.3

CMA / ARV

• ARV (median comp): $29,500
• List price: $37,000
• Delta: 25.42%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

6.65% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.47×
• Total profit: $108,515
• Equity at exit: $24,799

10-year hold

• IRR: —
• Equity multiple: 24.52×
• Total profit: $243,627
• Equity at exit: $46,365

Cash invested: $10,360 (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 34956

• Home prices YoY: 1.2%
• Active inventory: 135
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $2,336 medium
• Mortgage (P&I): −$194
• Tax from tax record: −$124 /mo · $1,485/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $1,512

Break-even live

Break-even rent $422

Max offer price $37,000

Occupancy floor 30%

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: $9,250
• Closing costs: $1,110
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15817 SW Winter Rd Indiantown, FL	3.0	2.5	1428	$2,300	$1.61	14d	1	0.78mi
15760 SW Hammock Way Indiantown, FL	3.0–4.0	2.0–3.5	1918	$2,420	$1.26	1d	41	1.38mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: internetlandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-15
   days on market $37,000 Active 735 DOM
2. 2026-06-14
   days on market $37,000 Active 733 DOM
3. 2026-06-13
   days on market $37,000 Active 732 DOM
4. 2026-06-10
   days on market $37,000 Active 730 DOM
5. 2026-06-09
   days on market $37,000 Active 729 DOM
6. 2026-06-08
   days on market $37,000 Active 728 DOM
7. 2026-06-07
   days on market $37,000 Active 727 DOM
8. 2026-06-03
   days on market $37,000 Active 723 DOM
9. 2026-06-02
   days on market $37,000 Active 722 DOM
10. 2026-06-01
    days on market $37,000 Active 721 DOM
11. 2026-05-31
    days on market $37,000 Active 720 DOM
12. 2026-05-31
    days on market $37,000 Active 719 DOM
13. 2026-03-10
    price $37,000 815-char remark

    Show marketing remark (815 chars)

    Golf cart & BBQ grill are included in the sale. A/C unit is only @ 2 yrs old. Cozy furnished 2 bedroom, 2 bath home ready for you to move in to. Get ready to enjoy Florida. Take the golf cart out to enjoy all of the amenities that the community has to offer. 2 community pools, recreational center, fitness room, tennis courts, shuffleboard, bocce ball and pickleball. Public golf course, pro shop and a sit-down restaurant offering indoor & outdoor seating, a full liquor license with golf course & lake view. Pet friendly community with restrictions. Land lease, you do not own the land, no rentals allowed. THIS IS A 55+ COMMUNITY. Land lease is $1304.00 a month and includes Lawn care, recreational facilities, management and common areas, taxes, common area insurance and Internet & TV.

14. 2024-06-05
    listed $49,000 Active 815-char remark

    Show marketing remark (815 chars)

    Golf cart & BBQ grill are included in the sale. A/C unit is only @ 2 yrs old. Cozy furnished 2 bedroom, 2 bath home ready for you to move in to. Get ready to enjoy Florida. Take the golf cart out to enjoy all of the amenities that the community has to offer. 2 community pools, recreational center, fitness room, tennis courts, shuffleboard, bocce ball and pickleball. Public golf course, pro shop and a sit-down restaurant offering indoor & outdoor seating, a full liquor license with golf course & lake view. Pet friendly community with restrictions. Land lease, you do not own the land, no rentals allowed. THIS IS A 55+ COMMUNITY. Land lease is $1304.00 a month and includes Lawn care, recreational facilities, management and common areas, taxes, common area insurance and Internet & TV.

15. 2018-12-18
    historical
16. 2018-11-12
    listed $73,500 Active

ⓘ 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: $1,485 · $124/mo
• Projected year-2 tax: $1,485 · $124/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,029
• − Mortgage interest: −$2,073
• − Property taxes: −$1,485
• − Insurance: −$185
• − Repairs & maintenance: −$2,242
• − Management: −$2,242
• − Depreciation: −$1,076
• Taxable income: $18,725
• Est. tax owed @ 24.0%: −$4,494
• After-tax cash flow: $13,650/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 — Indiantown

• Score: 59/100
• State rank: #829
• US rank: #20298

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indiantown, FL
• Population (ZIP): 9,639

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Hispanic / Latino 49% Black 24% White 24% Two or more races 16% Native American 5% Asian 1%
• Hispanic origin (detail): Mexican 21% Puerto Rican 4% Cuban 1%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 22% · Canada
• Languages at home: 55% English-only · Spanish 42%

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: ▲ 6.65%
• Current HPI: 561.896
• Rent YoY: —
• Metro: —
• 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

-49.7% since first listed

4 events — show timeline

• 2026-03-10 Price Changed $37,000 MCRTC
• 2024-06-05 Listed $49,000 MCRTC
• 2018-12-18 Listing Removed — MCRTC
• 2018-11-12 Listed $73,500 MCRTC

Property tax history

+3.1%/yr

Latest (2024): $1,485 · +1.2% YoY. Source: county tax records.