1225 NW 21st St Unit 20-2003 · North River Shores, FL 34994

$109,900

1 bd · 1.5 ba · 747 sqft · Condo · 15 Days on market

Built 1977 Fair condition $405/mo HOA · 25% 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 +19.0/30.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Rent growth +2.3/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

1st floor furnished 1/1 1/2 with a view of the lake, pool and clubhouse from the front windows, green view from the lanai. Tile in living area, berber carpet in the bedroom. Newer white kitchen w/ extra side cabinet for serving. Newer white vanities and higher toilets in both bathrooms There is a chair rail in living room, dining room, hall and 1/2 bath. . The lanai which is in the front of the bldg. has a door to the outside and the parking spot is right in front so bringing groceries in is very easy. No pets, trucks, motorcycles, or commercial vehicles for residents. Unit must be owned for 2 years before renting Application fee is $150 and an interview is required. Allow at least 2 week

Key facts

• Newer white vanities
• Newer white kitchen
• View of the lake

Tags

• VIEW OF THE LAKE
• NEWER WHITE KITCHEN
• NEWER WHITE VANITIES
• BORDERS NORTH RIVER GOLF CLUB
• CONVENIENT TO SHOPPING

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Homeowners association with $405 fee; Association fee covers management, common areas, cable TV, insurance, laundry, grounds and structure maintenance, parking, recreation facilities, reserve fund, road maintenance, sewer, taxes, trash and water; Senior community; On-site property manager; Community amenities: clubhouse, fitness center, pool, billiard room, game room, library, kitchen facilities, barbecue, shuffleboard, bicycle storage, laundry facilities, sidewalks, trails/paths

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Cable available; Electricity available; Public water (connected); Public sewer (connected); Trash collection
• Home design: 2-story property; Resale construction
• Construction: Block and concrete construction
• Exterior features: Covered patio; Patio; Community pool; Pond waterfront; Has view; Private road access

Interior

• Kitchen: Dishwasher; Electric range; Range; Microwave; Refrigerator
• Bedrooms: 1 possible bedroom
• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Individual electric heating; Central air conditioning (electric)
• Interior features: Furnished; Living/dining room; Tub with shower; Metal, single-hung and sliding windows
• Laundry & utility: Water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $110k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $115 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 5.7% in North River Shores — 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 74/100 on livability (#292 in FL, #4,906 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; Watch: schools D+, 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: Rents soft (-0.7%/yr); 256 active listings in the ZIP; 8 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).
• This rent runs 31% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Martin County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: 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 $108,251 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.47% ✓
• Cap rate: 7.54%
• Cash-on-cash: 4.47%
• DSCR: 1.20
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.51×
• Total profit: $-14,983
• Equity at exit: $16,386

10-year hold

• IRR: -14.9%
• Equity multiple: 0.32×
• Total profit: $-20,877
• Equity at exit: $9,502

Cash invested: $30,772 (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 34994

• Home prices YoY: -27.1%
• Rents YoY: -0.7%
• Active inventory: 256
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,619 high
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$405
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $115

Break-even live

Break-even rent $1,474

Max offer price $109,900

Occupancy floor 88%

Sensitivity live

Price	-10% $191	-5% $153	+0% $115	+5% $77	+10% $39
Rent	-10% $-13	-5% $51	+0% $115	+5% $179	+10% $242
Rate	-1.0pp $170	-0.5pp $143	base $115	+0.5pp $86	+1.0pp $57

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1225 NW 21st St Unit 7-705 Stuart, FL	1.0	1.5	747	$1,550	$2.07	15d	1	0.03mi
1225 NW 21st St Stuart, FL	1.0	1.5	773	$1,500	$1.94	22d	3	0.03mi
1225 NW 21st St Stuart, FL	1.0	1.5	773	$1,350	$1.75	15d	1	0.03mi
1225 NW 21st St Unit 35-3512 Stuart, FL	1.0	1.5	747	$1,395	$1.87	24d	1	0.03mi
2201 NW Federal Hwy Stuart, FL	1.0–3.0	1.0–2.0	1080	$1,810	$1.68	15d	18	0.30mi
1900 NW Federal Hwy Stuart, FL	1.0–2.0	1.0–2.0	1013	$2,165	$2.14	15d	21	0.32mi
1010 NW Fresco Way Jensen Beach, FL	1.0–3.0	1.0–2.0	1011	$1,725	$1.71	15d	10	0.61mi
800 NW Fork Rd Stuart, FL	1.0–2.0	1.0–2.0	886	$1,800	$2.03	15d	2	1.13mi

HOA detail condo

• Monthly dues: $405 · $4,860/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $109,900 Active 15 DOM
2. 2026-06-17
   days on market $109,900 Active 14 DOM
3. 2026-06-16
   days on market $109,900 Active 13 DOM
4. 2026-06-15
   days on market $109,900 Active 12 DOM
5. 2026-06-14
   days on market $109,900 Active 10 DOM
6. 2026-06-13
   days on market $109,900 Active 9 DOM
7. 2026-06-10
   days on market $109,900 Active 7 DOM
8. 2026-06-09
   days on market $109,900 Active 6 DOM
9. 2026-06-08
   days on market $109,900 Active 5 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $109,900 Active 4 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,429
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$1,554
• − Management: −$1,554
• − HOA: −$4,860
• − Depreciation: −$3,197
• Taxable loss: −$91
• Est. tax savings @ 24.0%: +$22
• After-tax cash flow: $1,397/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.

Condition & rehab AI · 13 photos

Fair 45/100 Cosmetic rehab

The property is in fair condition with some cosmetic repairs needed, particularly in the interior and landscaping. Painting and flooring updates would significantly enhance its resale and rental value.

Repairs flagged

• Minor Paint — Paint appears faded in some areas, especially in the bedroom.
• Minor Flooring — Tile flooring in living area, carpet in bedroom. Both appear clean but not recently replaced.

Value-add opportunities

• Both Painting the interior walls and replacing the flooring — Painting will refresh the interior and replacing the flooring will improve the living area's appearance and functionality.
• Both Landscaping improvements — Landscaping improvements will enhance the curb appeal and make the property more attractive to potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Paint appears faded in some areas, especially in the bedroom.	Minor	$500–3,000
Flooring · Tile flooring in living area, carpet in bedroom. Both appear clean but not recently replaced.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Painting the interior walls and replacing the flooring — Painting will refresh the interior and replacing the flooring will improve the living area's appearance and functionality. ↑
• Both Landscaping improvements — Landscaping improvements will enhance the curb appeal and make the property more attractive to potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — North River Shores

• Score: 74/100
• State rank: #292
• US rank: #4906

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North River Shores, FL
• County: Martin County · 165,223 people
• City population: 65,812
• Metro: Port St. Lucie, FL
• Population (ZIP): 18,737
• Household income: $62,533
• Rent vs Own: 42.1% rent · 57.9% own
• Severe rent burden: 1408.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 21% Two or more races 12% Black 11%
• Hispanic origin (detail): Mexican 6% Puerto Rican 5% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 12% · Canada
• Languages at home: 80% English-only · Spanish 16% Russian/Polish/Slavic 2% Other Indo-European 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: ▼ -130.08%
• Current HPI: 349.7061
• Rent YoY: ▼ -0.69%
• 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

1 event — show timeline

• 2026-06-02 Listed $109,900 MCRTC