16372 SW Indianwood Cir · Indiantown, FL 34956

$29,900

2 bd · 2.0 ba · 1,622 sqft · Condo public records · 295 Days on market

Built 1992 $18/sqft · 35% above area Est $28k · 8% over ↓ 59% 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).

• Cash flow +15.0/30.0
• Appreciation +8.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• ARV discount +4.0/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Invite your family & friends to this spacious 2030 sq ft home w/ plenty of room for entertaining! Enjoy the wet bar and a premium location w/ a natural wooded area & no rear neighbors. The home features a newer roof with a 3M membrane and a lifetime guarantee, hickory hardwood floors, and birch-paneled walls in the main living areas. Crown molding is present throughout. It includes formal living and dining rooms, a family room, great room, and a craft/office area with new windows and marble windowsills. The kitchen boasts a pantry, granite sink, skylights, an eat-in island with a cooktop, and a newer refrigerator. Main bedroom has a large walk-in closet, bathroom w/ double sinks, a walk-in shower & makeup vanity. Nearby, enjoy a public golf course and a full-service restaurant with a bar and outdoor seating overlooking the lake & golf course. Pet friendly 55+ community. $1200 monthly land lease, $79.00 passthrough fees & $75 for internet/TV. HOA requires 650+ credit. Partially furnished.

Key facts

• Premium location
• Birch paneled walls
• Newer roof

Tags

• PREMIUM LOCATION
• NATURAL WOODED AREA
• NEWER ROOF
• HICKORY HARDWOOD FLOORS
• BIRCH PANELED WALLS
• CROWN MOLDING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $30k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• Cap rate 72.2% vs local median 10.9% in Indiantown — 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 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; 2 comparable units currently listed for rent nearby; 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($207 loan paydown + $2k appreciation (6.7% local appreciation)).
• Martin County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 295 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $17k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $26,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 295 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. 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?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 7.83% ✓
• Cap rate: 72.23%
• Cash-on-cash: 235.48%
• DSCR: 11.48
• GRM: 1.1

CMA / ARV

• ARV (median comp): $27,729
• List price: $29,900
• Delta: 7.83%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 14.67×
• Total profit: $114,475
• Equity at exit: $20,041

10-year hold

• IRR: —
• Equity multiple: 31.41×
• Total profit: $254,599
• Equity at exit: $37,468

Cash invested: $8,372 (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: 1.1×

Monthly cashflow live

• Estimated rent: $2,341 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $448/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $1,643

Break-even live

Break-even rent $262

Max offer price $29,900

Occupancy floor 25%

Sensitivity live

Price	-10% $1,664	-5% $1,653	+0% $1,643	+5% $1,633	+10% $1,622
Rent	-10% $1,458	-5% $1,550	+0% $1,643	+5% $1,735	+10% $1,828
Rate	-1.0pp $1,658	-0.5pp $1,651	base $1,643	+0.5pp $1,635	+1.0pp $1,627

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	0.60mi
15760 SW Hammock Way Indiantown, FL	3.0–4.0	2.0–3.5	1918	$2,420	$1.26	1d	41	1.10mi

HOA detail condo

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

Listing history 21 events

1. 2026-06-18
   days on market $29,900 Active 295 DOM
2. 2026-06-17
   days on market $29,900 Active 294 DOM
3. 2026-06-16
   days on market $29,900 Active 293 DOM
4. 2026-06-15
   days on market $29,900 Active 292 DOM
5. 2026-06-14
   days on market $29,900 Active 290 DOM
6. 2026-06-13
   days on market $29,900 Active 289 DOM
7. 2026-06-10
   days on market $29,900 Active 287 DOM
8. 2026-06-09
   days on market $29,900 Active 286 DOM
9. 2026-06-08
   days on market $29,900 Active 285 DOM
10. 2026-06-07
    days on market $29,900 Active 284 DOM
11. 2026-06-03
    days on market $29,900 Active 280 DOM
12. 2026-06-02
    days on market $29,900 Active 279 DOM
13. 2026-06-01
    days on market $29,900 Active 278 DOM
14. 2026-05-31
    days on market $29,900 Active 277 DOM
15. 2026-05-31
    days on market $29,900 Active 276 DOM
16. 2026-05-06
    price $29,900 1032-char remark

    Show marketing remark (1032 chars)

    Invite your family & friends to this spacious 2030 sq ft home w/ plenty of room for entertaining! Enjoy the wet bar and a premium location w/ a natural wooded area & no rear neighbors. The home features a newer roof with a 3M membrane and a lifetime guarantee, hickory hardwood floors, and birch-paneled walls in the main living areas. Crown molding is present throughout. It includes formal living and dining rooms, a family room, great room, and a craft/office area with new windows and marble windowsills. The kitchen boasts a pantry, granite sink, skylights, an eat-in island with a cooktop, and a newer refrigerator. Main bedroom has a large walk-in closet, bathroom w/ double sinks, a walk-in shower & makeup vanity. Nearby, enjoy a public golf course and a full-service restaurant with a bar and outdoor seating overlooking the lake & golf course. Pet friendly 55+ community. $1200 monthly land lease, $79.00 passthrough fees & $75 for internet/TV. HOA requires 650+ credit. Partially furnished.

17. 2026-02-20
    price $42,900 1032-char remark

    Show marketing remark (1032 chars)

    Invite your family & friends to this spacious 2030 sq ft home w/ plenty of room for entertaining! Enjoy the wet bar and a premium location w/ a natural wooded area & no rear neighbors. The home features a newer roof with a 3M membrane and a lifetime guarantee, hickory hardwood floors, and birch-paneled walls in the main living areas. Crown molding is present throughout. It includes formal living and dining rooms, a family room, great room, and a craft/office area with new windows and marble windowsills. The kitchen boasts a pantry, granite sink, skylights, an eat-in island with a cooktop, and a newer refrigerator. Main bedroom has a large walk-in closet, bathroom w/ double sinks, a walk-in shower & makeup vanity. Nearby, enjoy a public golf course and a full-service restaurant with a bar and outdoor seating overlooking the lake & golf course. Pet friendly 55+ community. $1200 monthly land lease, $79.00 passthrough fees & $75 for internet/TV. HOA requires 650+ credit. Partially furnished.

18. 2025-08-26
    listed $46,900 Active 1032-char remark

    Show marketing remark (1032 chars)

    Invite your family & friends to this spacious 2030 sq ft home w/ plenty of room for entertaining! Enjoy the wet bar and a premium location w/ a natural wooded area & no rear neighbors. The home features a newer roof with a 3M membrane and a lifetime guarantee, hickory hardwood floors, and birch-paneled walls in the main living areas. Crown molding is present throughout. It includes formal living and dining rooms, a family room, great room, and a craft/office area with new windows and marble windowsills. The kitchen boasts a pantry, granite sink, skylights, an eat-in island with a cooktop, and a newer refrigerator. Main bedroom has a large walk-in closet, bathroom w/ double sinks, a walk-in shower & makeup vanity. Nearby, enjoy a public golf course and a full-service restaurant with a bar and outdoor seating overlooking the lake & golf course. Pet friendly 55+ community. $1200 monthly land lease, $79.00 passthrough fees & $75 for internet/TV. HOA requires 650+ credit. Partially furnished.

19. 2025-05-06
    historical
20. 2025-02-19
    price $59,000
21. 2024-11-06
    listed $72,500 Active

ⓘ 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 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: $28,094
• − Mortgage interest: −$1,675
• − Property taxes: −$448
• − Insurance: −$150
• − Repairs & maintenance: −$2,248
• − Management: −$2,248
• − Depreciation: −$870
• Taxable income: $20,456
• Est. tax owed @ 24.0%: −$4,910
• After-tax cash flow: $14,805/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

-58.8% since first listed

6 events — show timeline

• 2026-05-06 Price Changed $29,900 MCRTC
• 2026-02-20 Price Changed $42,900 MCRTC
• 2025-08-26 Listed $46,900 MCRTC
• 2025-05-06 Listing Removed — MCRTC
• 2025-02-19 Price Changed $59,000 MCRTC
• 2024-11-06 Listed $72,500 MCRTC

Property tax history

+11.9%/yr

Latest (2024): $1,734 · +213.6% YoY. Source: county tax records.