1810 SE Ocean Cove Way · Stuart, FL 34996

$429,000

3 bd · 2.5 ba · 1,782 sqft · Townhouse public records · 135 Days on market

Built 2022 $241/sqft · at area comps Est $410k · at est. $267/mo HOA · 8% of rent ↓ 24% 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).

• Appreciation +10.0/10.0
• Cash flow +6.9/30.0
• ARV discount +5.4/15.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.1/10.0

Listing remarks MLS

Beautifully maintained townhouse in the desirable Ocean Cove community, ideally located in the heart of Stuart—just 2 minutes to the beach and downtown Stuart. This home features a bright, open floor plan with comfortable living and dining areas that flow seamlessly for everyday living and entertaining. Plantation shutters add timeless style throughout, while impact windows provide peace of mind and energy efficiency. The functional kitchen and generously sized bedrooms offer both comfort and practicality. Enjoy an unbeatable location close to shopping, dining, and major roadways. A perfect blend of convenience, style, and coastal Florida living.

Key facts

• Functional kitchen
• Plantation shutters
• Unbeatable location

Tags

• IMPACT WINDOWS
• PLANTATION SHUTTERS
• FUNCTIONAL KITCHEN
• GENEROUSLY SIZED BEDROOMS
• UNBEATABLE LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $429k.

Deal economics

• At list price, monthly cash flow is $-716 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $302k (29.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $324k (24.4% below list).
• Recommended offer: $302k (29.5% below list) — sets the bar for cash-flow.
• Cap rate 4.5% vs local median 3.5% in Stuart — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $3,243/mo this rent would consume 46% of the median local household income ($84k/yr) (locally 247% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $46k of equity ($3k loan paydown + $43k 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 ~$74k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($378k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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 $302,491 (29.5% 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 135 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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 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.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 4.48%
• Cash-on-cash: -6.49%
• DSCR: 0.71
• GRM: 11.0

CMA / ARV

• ARV (median comp): $409,649
• List price: $429,000
• Delta: 4.72%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1843 SE Roxy Way	0.02mi	3/2.5	1,782 (0%)	3mo	$390,000	$219	96
1857 SE Tarni Way	0.06mi	3/2.5	1,816 (+2%)	10mo	$380,000	$209	86
1814 SE Ocean Cove Way	0.01mi	3/2.5	1,637 (-8%)	16mo	$460,000	$281	73
162 SE Saint Lucie Blvd Unit B201	0.62mi	3/2.0	1,684 (-6%)	5mo	$240,000	$143	56
150 SE Four Winds Dr #208	0.74mi	2/2.0 (-1)	1,515 (-15%)	22mo	$483,000	$319	16

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 19.2%
• Equity multiple: 2.57×
• Total profit: $188,275
• Equity at exit: $386,477

10-year hold

• IRR: 17.8%
• Equity multiple: 5.92×
• Total profit: $590,788
• Equity at exit: $833,453

Cash invested: $120,120 (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: 11.0×

Monthly cashflow live

• Estimated rent: $3,243 high
• Mortgage (P&I): −$2,250
• Tax from tax record: −$516 /mo · $6,197/yr
• Insurance: −$179
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$267
• Vacancy / Maint / Mgmt: −$681
• Net cashflow: $-716

Break-even live

Break-even rent $4,150

Max offer price $302,491

Occupancy floor —

Sensitivity live

Price	-10% $-473	-5% $-595	+0% $-716	+5% $-838	+10% $-959
Rent	-10% $-972	-5% $-844	+0% $-716	+5% $-588	+10% $-460
Rate	-1.0pp $-500	-0.5pp $-607	base $-716	+0.5pp $-827	+1.0pp $-940

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: $107,250
• Closing costs: $12,870
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1866 SE Tarni Way Stuart, FL	3.0	2.5	1782	$2,800	$1.57	15d	1	0.11mi
2950 SE Ocean Blvd Stuart, FL	2.0	2.0	1157	$1,800	$1.56	15d	3	0.16mi
1196 SE Saint Lucie Blvd Stuart, FL	2.0	2.0	1309	$4,300	$3.28	25d	1	0.50mi
175 SE Saint Lucie Blvd Stuart, FL	2.0	2.0–2.5	1300	$2,600	$2.00	25d	4	0.64mi
150 SE Four Winds Dr Unit B303 Stuart, FL	2.0	2.0	1359	$2,500	$1.84	25d	1	0.71mi
905 SE Flamingo Ave Stuart, FL	3.0	2.0	1520	$4,500	$2.96	25d	1	0.73mi
1843 SE Granada Ln Stuart, FL	2.0	2.0	1606	$1,800	$1.12	15d	1	1.08mi

HOA detail

• Monthly dues: $267 · $3,204/yr

Listing history 26 events

1. 2026-06-21
   days on market $429,000 Active 135 DOM
2. 2026-06-18
   days on market $429,000 Active 132 DOM
3. 2026-06-17
   days on market $429,000 Active 131 DOM
4. 2026-06-16
   days on market $429,000 Active 130 DOM
5. 2026-06-15
   days on market $429,000 Active 129 DOM
6. 2026-06-14
   days on market $429,000 Active 127 DOM
7. 2026-06-13
   days on market $429,000 Active 126 DOM
8. 2026-06-10
   days on market $429,000 Active 124 DOM
9. 2026-06-09
   days on market $429,000 Active 123 DOM
10. 2026-06-08
    days on market $429,000 Active 122 DOM
11. 2026-06-07
    days on market $429,000 Active 121 DOM
12. 2026-06-03
    days on market $429,000 Active 117 DOM
13. 2026-06-02
    days on market $429,000 Active 116 DOM
14. 2026-06-01
    days on market $429,000 Active 115 DOM
15. 2026-05-31
    days on market $429,000 Active 114 DOM
16. 2026-05-31
    days on market $429,000 Active 113 DOM
17. 2026-02-06
    listed $439,000 Active 660-char remark

    Show marketing remark (660 chars)

    Beautifully maintained townhouse in the desirable Ocean Cove community, ideally located in the heart of Stuart—just 2 minutes to the beach and downtown Stuart. This home features a bright, open floor plan with comfortable living and dining areas that flow seamlessly for everyday living and entertaining. Plantation shutters add timeless style throughout, while impact windows provide peace of mind and energy efficiency. The functional kitchen and generously sized bedrooms offer both comfort and practicality. Enjoy an unbeatable location close to shopping, dining, and major roadways. A perfect blend of convenience, style, and coastal Florida living.

18. 2026-02-02
    historical
19. 2025-12-30
    price $465,000
20. 2025-04-02
    listed $485,000 Active
21. 2022-09-24
    historical
22. 2022-08-23
    historical
23. 2022-07-18
    price $579,000
24. 2022-07-18
    listed $579,900 Active
25. 2022-06-28
    soldstatus $416,000
26. 2021-07-23
    listed $579,000 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: $6,197 · $516/mo
• Projected year-2 tax: $6,197 · $516/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) · 76% 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: $38,919
• − Mortgage interest: −$24,031
• − Property taxes: −$6,197
• − Insurance: −$2,942
• − Repairs & maintenance: −$3,114
• − Management: −$3,114
• − HOA: −$3,204
• − Depreciation: −$12,480
• Taxable loss: −$16,162
• Est. tax savings @ 24.0%: +$3,879
• After-tax cash flow: $-4,715/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

• Census place: Stuart, FL
• 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

-24.2% since first listed

10 events — show timeline

• 2026-02-06 Listed $439,000 MCRTC
• 2026-02-02 Listing Removed — Beaches MLS
• 2025-12-30 Price Changed $465,000 Beaches MLS
• 2025-04-02 Listed $485,000 Beaches MLS
• 2022-09-24 Listing Removed — MARMLS
• 2022-08-23 Listing Removed — MCRTC
• 2022-07-18 Price Changed $579,000 MCRTC
• 2022-07-18 Listed $579,900 MCRTC
• 2022-06-28 Sold (Public Records) $416,000 Public Records
• 2021-07-23 Listed $579,000 MARMLS

Property tax history

+80.3%/yr

Latest (2025): $6,197 · -0.9% YoY. Source: county tax records.