1800 SE Saint Lucie Blvd Unit 11-203 · Sewall's Point, FL 34996

$210,000

2 bd · 2.0 ba · 1,044 sqft · Condo public records · 31 Days on market

Built 1976 $865/mo HOA · 32% 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 +10.2/30.0
• Appreciation +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to Conquistador Condos, a highly desirable 55+ community offering comfort, convenience, and an exceptional South Florida lifestyle. This beautifully maintained residence features numerous upgrades throughout ownership, including a renovated kitchen with updated cabinetry, countertops, backsplash, recessed lighting, newer appliances, updated bathrooms, newer A/C, water heater, and flooring throughout. The association has completed major capital improvements and building assessments, adding peace of mind for future ownership. Conveniently located near shopping, dining, beaches, golf, medical facilities, and major highways. Enjoy resort-style amenities, manicured grounds, and pride of

Key facts

• Newer appliances
• Water heater
• Newer a/c

Tags

• RENOVATED KITCHEN
• UPDATED CABINETRY
• UPDATED BATHROOMS
• NEWER APPLIANCES
• NEWER A/C
• WATER HEATER

Property features AI

Finance

• Financial info: Pets allowed with breed restrictions; Subject property is part of a senior community
• HOA & community: Conquistador Homeowners Association; HOA fee $865 monthly; HOA includes cable TV, insurance, grounds maintenance, pest control, trash, water, common areas, common real estate tax; Community amenities: clubhouse, pool and spa (heated, in-ground, fenced; pool/spa combo), fitness center, billiard room, game room, community room, picnic area, dog park, bike storage, management and on-site manager, elevators, parking

Exterior

• Parking: Assigned and guest parking on asphalt and concrete surfaces; Open parking; 1 total parking space; See remarks for additional parking details
• Security: Closed-circuit cameras; Entry phone/intercom; Gated community (no guard)
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Resale condition; 3 stories total; Southeast facing
• Construction: Concrete/Stucco/CBS construction; Flat roof; Foundation details: see remarks
• Exterior features: Covered patio; Screened patio; Deck; Patio; Sidewalks; Landscaped grounds; Waterfront (no specific features listed)

Interior

• Kitchen: Disposal; Dishwasher; Electric range / Electric cooktop; Microwave; Refrigerator; Freezer; Trash compactor
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate; Tile; Wood
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Built-in features; Kitchen island; Closet cabinetry; French doors
• Laundry & utility: Inside laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $210k.

Deal economics

• At list price, monthly cash flow is $-118 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $189k (10.0% below list).
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $189k (10.0% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 0.7% in Sewall's Point — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: 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) — zoned schools at 42% FRL track the district average.
• Market conditions: 251 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $22k of equity ($1k loan paydown + $21k 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 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 15y ago; this cycle's ask is 8650% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $64k; list at $210k implies a 228% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: major 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 $189,098 (10.0% 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 31 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.28% ✓
• Cap rate: 5.62%
• Cash-on-cash: -2.41%
• DSCR: 0.89
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 22.7%
• Equity multiple: 2.83×
• Total profit: $107,363
• Equity at exit: $189,185

10-year hold

• IRR: 20.3%
• Equity multiple: 6.50×
• Total profit: $323,141
• Equity at exit: $407,984

Cash invested: $58,800 (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: 251
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,690 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$190 /mo · $2,277/yr
• Insurance: −$88
• HOA: −$865
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $-118

Break-even live

Break-even rent $2,840

Max offer price $189,098

Occupancy floor 99%

Sensitivity live

Price	-10% $1	-5% $-59	+0% $-118	+5% $-178	+10% $-237
Rent	-10% $-331	-5% $-225	+0% $-118	+5% $-12	+10% $94
Rate	-1.0pp $-13	-0.5pp $-65	base $-118	+0.5pp $-173	+1.0pp $-228

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 19 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	24d	3	0.04mi
1196 SE Saint Lucie Blvd Stuart, FL	2.0	2.0	1309	$4,300	$3.28	24d	1	0.45mi
3129 SE Indian St #3 Stuart, FL	2.0	1.5	986	$2,300	$2.33	24d	1	0.72mi
2950 SE Ocean Blvd Stuart, FL	2.0	2.0	1157	$1,800	$1.56	14d	3	0.80mi
2600 SE Ocean Blvd Stuart, FL	1.0–2.0	1.5–2.0	951	$1,900	$2.00	14d	3	0.84mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	14d	8	1.03mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	24d	6	1.03mi
3002 SE Camino Ave Stuart, FL	2.0	1.0	930	$2,000	$2.15	24d	1	1.13mi
3299 SE Garden St Stuart, FL	3.0	2.0	1360	$2,410	$1.77	24d	1	1.13mi
3003 SE Birch Ave Unit 3007 Stuart, FL	2.0	1.0	950	$2,200	$2.32	24d	1	1.14mi
2934 SE Ellendale St Stuart, FL	2.0	2.0	900	$2,000	$2.22	14d	1	1.17mi
3003 SE Fairmont St Stuart, FL	3.0	2.0	1366	$2,500	$1.83	14d	1	1.18mi
2929 SE Ocean Blvd Unit 130 Stuart, FL	2.0	2.0	1005	$1,800	$1.79	24d	1	1.19mi
2641 SE Clayton St Unit 2641 Stuart, FL	3.0	1.5	1150	$2,400	$2.09	24d	1	1.19mi
3166 SE Garden St Unit 3166 Stuart, FL	2.0	1.0	870	$1,900	$2.18	14d	1	1.20mi
3166 SE Garden St Stuart, FL	2.0	1.0	870	$1,850	$2.13	14d	1	1.20mi
300 SE Saint Lucie Blvd Stuart, FL	1.0–3.0	1.0–2.0	884	$2,258	$2.55	14d	12	1.32mi
262 SE Monterey Ave Stuart, FL	3.0	1.0	1001	$3,500	$3.50	24d	1	1.45mi
333 SE Martin Ave Unit 1F Stuart, FL	2.0	1.0	778	$1,800	$2.31	24d	1	1.47mi

HOA detail condo

• Monthly dues: $865 · $10,380/yr
• Likely covers: waterlandscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-18
   days on market $210,000 Active 31 DOM
2. 2026-06-17
   days on market $210,000 Active 30 DOM
3. 2026-06-16
   days on market $210,000 Active 29 DOM
4. 2026-06-15
   days on market $210,000 Active 28 DOM
5. 2026-06-14
   days on market $210,000 Active 26 DOM
6. 2026-06-13
   days on market $210,000 Active 25 DOM
7. 2026-06-10
   days on market $210,000 Active 23 DOM
8. 2026-06-09
   days on market $210,000 Active 22 DOM
9. 2026-06-08
   days on market $210,000 Active 21 DOM
10. 2026-06-07
    days on market $210,000 Active 20 DOM
11. 2026-06-03
    days on market $210,000 Active 16 DOM
12. 2026-06-02
    days on market $210,000 Active 15 DOM
13. 2026-06-01
    days on market $210,000 Active 14 DOM
14. 2026-05-31
    days on market $210,000 Active 13 DOM
15. 2026-05-31
    days on market $210,000 Active 12 DOM
16. 2026-05-20
    listed $2,400
17. 2026-05-18
    listed $210,000 Active
18. 2026-05-04
    historical
19. 2026-02-27
    price $219,900
20. 2025-11-07
    listed $230,000 Active
21. 2024-04-30
    historical
22. 2023-06-23
    price $250,000
23. 2022-11-11
    price $255,000
24. 2022-10-31
    price $264,900
25. 2022-07-29
    status Active
26. 2022-07-28
    historical
27. 2022-07-27
    price $274,900
28. 2022-07-24
    listed $275,000 Active
29. 2014-04-16
    historical
30. 2011-10-10
    listed $88,900
31. 1997-05-28
    soldstatus $64,000
32. 1994-12-28
    soldstatus $62,500

ⓘ 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: $2,277 · $190/mo
• Projected year-2 tax: $2,277 · $190/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 6/10 Major FEMA zone X (unshaded) · 70% 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: $32,282
• − Mortgage interest: −$11,763
• − Property taxes: −$2,277
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,583
• − Management: −$2,583
• − HOA: −$10,380
• − Depreciation: −$6,109
• Taxable loss: −$4,463
• Est. tax savings @ 24.0%: +$1,071
• After-tax cash flow: $-349/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 — Sewall's Point

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Martin County · 165,223 people
• City population: 10,875
• 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

-96.2% since first listed

17 events — show timeline

• 2026-05-20 Listed for Rent $2,400 RMLSFL
• 2026-05-18 Listed $210,000 Beaches MLS
• 2026-05-04 Listing Removed — Beaches MLS
• 2026-02-27 Price Changed $219,900 Beaches MLS
• 2025-11-07 Listed $230,000 Beaches MLS
• 2024-04-30 Listing Removed — MCRTC
• 2023-06-23 Price Changed $250,000 MCRTC
• 2022-11-11 Price Changed $255,000 MCRTC
• 2022-10-31 Price Changed $264,900 MCRTC
• 2022-07-29 Relisted — MCRTC
• 2022-07-28 Listing Removed — MCRTC
• 2022-07-27 Price Changed $274,900 MCRTC
• 2022-07-24 Listed $275,000 MCRTC
• 2014-04-16 Listing Removed — MCRTC
• 2011-10-10 Listed $88,900 MCRTC
• 1997-05-28 Sold (Public Records) $64,000 Public Records
• 1994-12-28 Sold (Public Records) $62,500 Public Records

Property tax history

+5.8%/yr

Latest (2025): $2,277 · -12.9% YoY. Source: county tax records.