14450 SW Sand Wedge Dr · Indiantown, FL 34956

$85,000

3 bd · 2.0 ba · 2,200 sqft · Condo · 347 Days on market

Built 2005 $39/sqft · 172% above area ↓ 35% 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).

• 1% rule +10.0/10.0
• Appreciation +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.1/30.0
• DSCR +0.0/10.0

Listing remarks MLS

This home truly has it all! 3 bedrooms/2 bath + bonus room. Featuring a new air conditioning system, new flooring, & fans/lights in both guest quarters, new microwave & metal roof, all installed in 2023. Enclosed screen porch has impact windows, added wall insulation, finished & painted walls, a new door on the back wall for shed access, a new storm door on the front wall, new flooring, a split A/C heat unit & accent lighting on a dimmer switch, all completed in 2023. A built-in workbench & stairs from the sunroom to the shed. Concrete added along the driveway and house in 2023 to create a golf cart path. Shed (8x11) with a roll down electric door for a golf cart. Window treatments in the sunroom, a golf cart, and metal hurricane shutters are included. Lot rent is $1304.00 a month. This is a 55+ community allowing a maximum of two pets. A public golf course and a full-service restaurant with a bar are located adjacent to the community. The HOA requires a credit score of 650 or higher.

Key facts

• New flooring
• Impact windows
• New storm door

Tags

• NEW AIR CONDITIONING SYSTEM
• NEW FLOORING
• IMPACT WINDOWS
• ADDED WALL INSULATION
• FINISHED PAINTED WALLS
• NEW STORM DOOR

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $-386 ($-5k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 0.8% vs local median 10.9% in Indiantown — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($588 loan paydown + $6k appreciation (6.7% local appreciation)).
• Martin County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, 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 347 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $6k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 73% of rent.
• 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 $74,800 (12.0% 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 347 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. 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 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?
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 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: 3.30% ✓
• Cap rate: 0.84%
• Cash-on-cash: -19.46%
• DSCR: 0.13
• GRM: 2.5

CMA / ARV

• ARV (median comp): $31,250
• List price: $85,000
• Delta: 172.00%
• Verdict: OVERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 2.7%
• Equity multiple: 1.19×
• Total profit: $4,560
• Equity at exit: $56,972

10-year hold

• IRR: 6.3%
• Equity multiple: 2.45×
• Total profit: $34,467
• Equity at exit: $106,515

Cash invested: $23,800 (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 34956

• Home prices YoY: 1.2%
• Active inventory: 135
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $2,804 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$74 /mo · $884/yr
• Insurance: −$35
• HOA est. from 1 same-building comp: −$2,046
• Vacancy / Maint / Mgmt: −$589
• Net cashflow: $-386

Break-even live

Break-even rent $3,292

Max offer price $17,685

Occupancy floor —

Sensitivity live

Price	-10% $-338	-5% $-362	+0% $-386	+5% $-410	+10% $-434
Rent	-10% $-608	-5% $-497	+0% $-386	+5% $-275	+10% $-165
Rate	-1.0pp $-343	-0.5pp $-364	base $-386	+0.5pp $-408	+1.0pp $-430

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 4 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
15693 SW Twilight St Indiantown, FL	4.0	2.5	1895	$3,300	$1.74	22d	1	0.89mi
15404 SW American St Indiantown, FL	4.0	2.0	1850	$3,000	$1.62	14d	1	0.92mi
15760 SW Hammock Way Indiantown, FL	3.0–4.0	2.0–3.5	1918	$2,420	$1.26	2d	41	1.38mi

HOA detail condo

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

Listing history 21 events

1. 2026-06-18
   days on market $85,000 Active 347 DOM
2. 2026-06-17
   days on market $85,000 Active 346 DOM
3. 2026-06-16
   days on market $85,000 Active 345 DOM
4. 2026-06-15
   days on market $85,000 Active 344 DOM
5. 2026-06-14
   days on market $85,000 Active 342 DOM
6. 2026-06-13
   days on market $85,000 Active 341 DOM
7. 2026-06-10
   days on market $85,000 Active 339 DOM
8. 2026-06-09
   days on market $85,000 Active 338 DOM
9. 2026-06-08
   days on market $85,000 Active 337 DOM
10. 2026-06-07
    days on market $85,000 Active 336 DOM
11. 2026-06-03
    days on market $85,000 Active 332 DOM
12. 2026-06-02
    days on market $85,000 Active 331 DOM
13. 2026-06-01
    days on market $85,000 Active 330 DOM
14. 2026-05-31
    days on market $85,000 Active 329 DOM
15. 2026-05-31
    days on market $85,000 Active 328 DOM
16. 2025-10-21
    price $85,000 1028-char remark

    Show marketing remark (1028 chars)

    This home truly has it all! 3 bedrooms/2 bath + bonus room. Featuring a new air conditioning system, new flooring, & fans/lights in both guest quarters, new microwave & metal roof, all installed in 2023. Enclosed screen porch has impact windows, added wall insulation, finished & painted walls, a new door on the back wall for shed access, a new storm door on the front wall, new flooring, a split A/C heat unit & accent lighting on a dimmer switch, all completed in 2023. A built-in workbench & stairs from the sunroom to the shed. Concrete added along the driveway and house in 2023 to create a golf cart path. Shed (8x11) with a roll down electric door for a golf cart. Window treatments in the sunroom, a golf cart, and metal hurricane shutters are included. Lot rent is $1304.00 a month. This is a 55+ community allowing a maximum of two pets. A public golf course and a full-service restaurant with a bar are located adjacent to the community. The HOA requires a credit score of 650 or higher.

17. 2025-07-04
    listed $91,000 Active 1028-char remark

    Show marketing remark (1028 chars)

    This home truly has it all! 3 bedrooms/2 bath + bonus room. Featuring a new air conditioning system, new flooring, & fans/lights in both guest quarters, new microwave & metal roof, all installed in 2023. Enclosed screen porch has impact windows, added wall insulation, finished & painted walls, a new door on the back wall for shed access, a new storm door on the front wall, new flooring, a split A/C heat unit & accent lighting on a dimmer switch, all completed in 2023. A built-in workbench & stairs from the sunroom to the shed. Concrete added along the driveway and house in 2023 to create a golf cart path. Shed (8x11) with a roll down electric door for a golf cart. Window treatments in the sunroom, a golf cart, and metal hurricane shutters are included. Lot rent is $1304.00 a month. This is a 55+ community allowing a maximum of two pets. A public golf course and a full-service restaurant with a bar are located adjacent to the community. The HOA requires a credit score of 650 or higher.

18. 2025-05-22
    historical
19. 2025-03-17
    price $99,900
20. 2025-01-02
    price $119,900
21. 2024-10-22
    listed $129,900 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: $884 · $74/mo
• Projected year-2 tax: $884 · $74/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: $33,643
• − Mortgage interest: −$4,761
• − Property taxes: −$884
• − Insurance: −$425
• − Repairs & maintenance: −$2,691
• − Management: −$2,691
• − HOA: −$24,552
• − Depreciation: −$2,473
• Taxable loss: −$4,835
• Est. tax savings @ 24.0%: +$1,160
• After-tax cash flow: $-3,472/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

-34.6% since first listed

6 events — show timeline

• 2025-10-21 Price Changed $85,000 MCRTC
• 2025-07-04 Listed $91,000 MCRTC
• 2025-05-22 Listing Removed — MCRTC
• 2025-03-17 Price Changed $99,900 MCRTC
• 2025-01-02 Price Changed $119,900 MCRTC
• 2024-10-22 Listed $129,900 MCRTC

Property tax history

+4.1%/yr

Latest (2024): $884 · -1.9% YoY. Source: county tax records.