1811 SW Palm City Rd Unit A601 · Stuart, FL 34994

$115,000

2 bd · 2.0 ba · 1,188 sqft · Condo public records · 48 Days on market

Built 1988 $97/sqft · 48% below area Est $222k · 48% under $553/mo HOA · 24% of rent

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Why this score? — see what drove the B+ 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 +27.2/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.4/10.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom full rehab unit in wonderful location. 2 year lease restriction No lease for the first 2 years. HOA covers basic cable, water & trash. Seller will pay off the current $25K assessment in full at closing. Assessment included new roofs, new carports and paving, pool resurfacing, exterior painting & new railings Highest and Best by April 23rd

Key facts

• $553 HOA
• Parking
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 4.1% in Stuart — 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 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.
• Market conditions: Rents soft (-0.7%/yr); 259 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 44% 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 $795 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 48 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $74k; list at $115k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; HOA is 24% of rent.
• Climate carrying-cost: moderate 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 $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% 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. 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 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?
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: 2.01% ✓
• Cap rate: 9.72%
• Cash-on-cash: 12.24%
• DSCR: 1.54
• GRM: 4.1

CMA / ARV

• ARV (median comp): $222,119
• List price: $115,000
• Delta: -48.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -3.5%
• Equity multiple: 0.87×
• Total profit: $-4,034
• Equity at exit: $17,147

10-year hold

• IRR: -0.5%
• Equity multiple: 0.97×
• Total profit: $-900
• Equity at exit: $9,943

Cash invested: $32,200 (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: 259
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,316 high
• Mortgage (P&I): −$603
• Tax from tax record: −$297 /mo · $3,568/yr
• Insurance: −$48
• HOA: −$553
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $328

Break-even live

Break-even rent $1,900

Max offer price $115,000

Occupancy floor 81%

Sensitivity live

Price	-10% $394	-5% $361	+0% $328	+5% $296	+10% $263
Rent	-10% $145	-5% $237	+0% $328	+5% $420	+10% $511
Rate	-1.0pp $386	-0.5pp $358	base $328	+0.5pp $299	+1.0pp $268

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1871 SW Palm City Rd Unit G401 Stuart, FL	3.0	2.0	1289	$2,200	$1.71	24d	1	0.03mi
1900 S Kanner Hwy Unit 2-203 Stuart, FL	2.0	2.0	1086	$1,800	$1.66	15d	1	0.15mi
1868 SW Palm City Rd Apt 202 Stuart, FL	2.0	2.0	1191	$2,900	$2.43	24d	1	0.29mi
85 SE Hancock St Stuart, FL	1.0–2.0	1.0–2.0	1278	$2,300	$1.80	15d	2	0.29mi
1950 SW Palm City Rd Unit 4-4205 Stuart, FL	2.0	2.0	938	$2,400	$2.56	15d	1	0.34mi
1950 SW Palm City Rd Stuart, FL	2.0	2.0	1031	$3,150	$3.05	24d	3	0.34mi
950 S Kanner Hwy Stuart, FL	1.0–2.0	1.0–2.0	850	$2,000	$2.35	15d	4	0.49mi
950 S Kanner Hwy Stuart, FL	2.0	2.0	1019	$1,888	$1.85	22d	3	0.49mi
950 S Kanner Hwy Stuart, FL	1.0–2.0	1.0–2.5	1062	$2,000	$1.88	24d	5	0.49mi
44 SE Sedona Cir #201 Stuart, FL	3.0	2.0	1443	$2,200	$1.52	24d	1	0.50mi
47 SE Sedona Cir #203 Stuart, FL	3.0	2.5	1450	$2,200	$1.52	24d	1	0.50mi
345 SE Angler Dr Stuart, FL	3.0	2.5	1475	$2,650	$1.80	22d	1	0.57mi
400 SE Central Pkwy Stuart, FL	1.0–2.0	1.0–2.0	918	$2,640	$2.87	15d	16	0.60mi
2600 S Kanner Hwy Stuart, FL	1.0–2.0	1.5–2.0	890	$1,950	$2.19	15d	3	0.68mi
701 SW Bryant Ave Stuart, FL	2.0	1.0	1295	$3,300	$2.55	15d	1	0.68mi
801 SE Central Ave Stuart, FL	3.0	1.0	899	$2,300	$2.56	15d	1	0.89mi
801 SE Central Pkwy #7 Stuart, FL	2.0	2.0	1046	$2,150	$2.06	15d	1	0.91mi
524 SW St Lucie Cres Stuart, FL	1.0	1.0	610	$1,925	$3.16	15d	5	0.91mi
2819 SW Cornell Ave Palm City, FL	2.0	1.5	1060	$2,150	$2.03	22d	1	1.00mi
917 SE Nassau Ave Stuart, FL	2.0	1.0	832	$3,800	$4.57	24d	1	1.05mi
917 SE Nassau Ave Stuart, FL	2.0	1.0	832	$1,900	$2.28	22d	1	1.05mi
310 SE Denver Ave Unit 2 Stuart, FL	2.0	2.0	1300	$2,900	$2.23	15d	1	1.08mi
1634 SW Crossing Cir Palm City, FL	2.0	1.5	1258	$2,200	$1.75	24d	1	1.12mi
201 SW Joan Jefferson Way Stuart, FL	2.0–3.0	2.0	1400	$2,545	$1.82	15d	10	1.13mi
47 SW Osceola St #206 Stuart, FL	2.0	2.0	1276	$4,000	$3.13	24d	1	1.15mi
47 SW Osceola St Unit UN206 Stuart, FL	2.0	2.0	1276	$3,900	$3.06	24d	1	1.15mi
41 SW Seminole St Stuart, FL	3.0	1.0–2.5	1353	$13,167	$9.73	24d	3	1.18mi
2104 SE Edler Dr Stuart, FL	1.0	1.0	726	$1,500	$2.07	24d	1	1.31mi
2118 SE Edler Dr Unit B Stuart, FL	2.0	2.0	876	$1,995	$2.28	24d	1	1.32mi
2124 SE Edler Dr Stuart, FL	2.0	2.0	876	$1,800	$2.05	24d	1	1.33mi
1485 SW Silver Pine Way Unit 107 B-2 Palm City, FL	1.0	1.0	830	$1,650	$1.99	24d	1	1.34mi
1215 SE Glenwood Dr Stuart, FL	2.0	2.0	1089	$1,859	$1.71	15d	10	1.43mi
1605 SW Silver Pine Way Unit F2 Palm City, FL	2.0	2.0	1111	$2,000	$1.80	24d	1	1.43mi
1544 SW Silver Pine Way Unit F-104 Palm City, FL	2.0	2.0	1170	$2,500	$2.14	15d	1	1.44mi
544 SW 35th St Palm City, FL	2.0	1.0	850	$1,850	$2.18	24d	1	1.49mi
3405 SW Feroe Ave Palm City, FL	2.0	2.0	1275	$2,800	$2.20	24d	1	1.50mi

HOA detail condo

• Monthly dues: $553 · $6,636/yr
• Likely covers: watertrashcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-04-22
   price $115,000 360-char remark

   Show marketing remark (360 chars)

   2 bedroom full rehab unit in wonderful location. 2 year lease restriction No lease for the first 2 years. HOA covers basic cable, water & trash. Seller will pay off the current $25K assessment in full at closing. Assessment included new roofs, new carports and paving, pool resurfacing, exterior painting & new railings Highest and Best by April 23rd

2. 2026-04-08
   listed $120,000 Active 360-char remark

   Show marketing remark (360 chars)

   2 bedroom full rehab unit in wonderful location. 2 year lease restriction No lease for the first 2 years. HOA covers basic cable, water & trash. Seller will pay off the current $25K assessment in full at closing. Assessment included new roofs, new carports and paving, pool resurfacing, exterior painting & new railings Highest and Best by April 23rd

3. 2001-11-01
   soldstatus $73,800
4. 1999-12-28
   soldstatus $65,085
5. 1995-09-08
   soldstatus $58,000

ⓘ 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: $3,568 · $297/mo
• Projected year-2 tax: $3,568 · $297/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 5/10 Major FEMA zone X (unshaded) · 23% 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: $27,794
• − Mortgage interest: −$6,442
• − Property taxes: −$3,568
• − Insurance: −$575
• − Repairs & maintenance: −$2,223
• − Management: −$2,223
• − HOA: −$6,636
• − Depreciation: −$3,345
• Taxable income: $2,781
• Est. tax owed @ 24.0%: −$667
• After-tax cash flow: $3,274/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): 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

+98.3% since first listed

5 events — show timeline

• 2026-04-22 Price Changed $115,000 Beaches MLS
• 2026-04-08 Listed $120,000 Beaches MLS
• 2001-11-01 Sold (Public Records) $73,800 Public Records
• 1999-12-28 Sold (Public Records) $65,085 Public Records
• 1995-09-08 Sold (Public Records) $58,000 Public Records

Property tax history

+16.8%/yr

Latest (2025): $3,568 · +390.3% YoY. Source: county tax records.