5550 SE Normandy Ave · Port Salerno, FL 34997

$265,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 11 Days on market

Built 1961 7,500 sqft lot Est $328k · 19% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.0/30.0
• Schools +4.5/10.0
• DSCR +3.9/10.0
• Livability +3.5/5.0
• 1% rule +3.2/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

YOU WILL LOVE THIS CUTE 2/1 HOME WITH TERRAZZO FLOORING THROUGHOUT, BLACK APPLIANCES, WOOD CABINETS, TANKLESS WATER HEATER AND SO MUCH MORE. FRIENDLY NEIGHBORHOOD, CLOSE TO SHOPPING AND US1. A MUST SEE!

Key facts

• Black appliances
• Close to shopping
• Terrazzo flooring

Tags

• TERRAZZO FLOORING
• BLACK APPLIANCES
• TANKLESS WATER HEATER
• CLOSE TO SHOPPING

Property features AI

Finance

• Other: Pets allowed with no restrictions

Exterior

• Parking: Attached carport; Covered parking (1 space); Driveway
• Security: Other security features
• Utilities: Public water; Septic tank sewer; Electricity available; Cable available; Water available
• Home design: Single family residence; One story; Resale condition; Faces east; Entry facing west of US-1
• Construction: Concrete block construction with stucco; Shingle roof; Built as a single-story (1 total story)
• Exterior features: Back yard fencing; Paved road access; No waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Terrazzo
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Bedroom layout with stacked bedrooms; Shutters on windows; Unfurnished
• Laundry & utility: Washer hookup; Electric dryer hookup; Tankless water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $-12 ($-146/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $218k (17.6% below list).
• Recommended offer: $218k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.1% in Port Salerno — 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 70/100 on livability (#440 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, health & safety A; Watch: 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.
• Zoned schools: Dr. David L. Anderson Middle School (math 51% / reading 46%, grade C-, #274 of 571 statewide, top 50%, 1,035 students, 63% FRL) — zoned schools average 63% FRL vs 41% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.7%/yr); 588 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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).
• This rent runs 34% of the median local income ($78k/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 $2k of loan paydown is wiped out by about $8k 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $44k; list at $265k implies a 502% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $218,441 (17.6% 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. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.82% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.20%
• DSCR: 0.99
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $328,032
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3135 SE Mimosa St	0.33mi	2/1.0	828 (+2%)	12mo	$333,000	$402	72
3023 SE Banyan St	0.34mi	2/1.0	770 (-6%)	4mo	$340,000	$442	72
5847 Avalon Dr	0.26mi	2/1.0	888 (+9%)	15mo	$335,000	$377	61
3156 SE Mimosa St	0.34mi	2/1.0	935 (+15%)	2mo	$295,000	$316	58
5638 SE Pine Ave	0.48mi	2/2.0	932 (+14%)	1mo	$230,000	$247	49
3079 SE Cypress St	0.41mi	2/2.0	932 (+14%)	14mo	$379,900	$408	42

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

Projected returns pro-forma

-3.0% appreciation · 2.71% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.40×
• Total profit: $-44,376
• Equity at exit: $39,512

10-year hold

• IRR: -9.4%
• Equity multiple: 0.43×
• Total profit: $-42,332
• Equity at exit: $22,912

Cash invested: $74,200 (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 34997

• Rents YoY: 2.7%
• Active inventory: 588
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,184 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$238 /mo · $2,853/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $-12

Break-even live

Break-even rent $2,200

Max offer price $262,851

Occupancy floor 96%

Sensitivity live

Price	-10% $138	-5% $63	+0% $-12	+5% $-87	+10% $-162
Rent	-10% $-185	-5% $-98	+0% $-12	+5% $74	+10% $160
Rate	-1.0pp $121	-0.5pp $55	base $-12	+0.5pp $-81	+1.0pp $-151

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5601 SE Laguna Ave Stuart, FL	2.0	1.0	1080	$2,200	$2.04	14d	1	0.44mi
4585 SE Federal Hwy Stuart, FL	1.0–3.0	1.0–2.0	1015	$2,326	$2.29	14d	27	0.69mi
4421 SE Village Rd Stuart, FL	2.0	2.0	1080	$2,100	$1.94	24d	1	1.47mi

Listing history 10 events

1. 2026-06-13
   statusdays on market $265,000 Pending 11 DOM
2. 2026-06-10
   days on market $265,000 Active Under Contract 10 DOM
3. 2026-06-09
   days on market $265,000 Active Under Contract 9 DOM
4. 2026-06-08
   days on market $265,000 Active Under Contract 8 DOM
5. 2026-06-07
   days on market $265,000 Active Under Contract 7 DOM
6. 2026-06-03
   days on market $265,000 Active Under Contract 3 DOM
7. 2026-06-03
   status $265,000 Active Under Contract 2 DOM
8. 2026-06-02
   days on market $265,000 Active 2 DOM
9. 2026-06-01
   remarks 202-char remark
10. 2026-06-01
    listed $265,000 Active 1 DOM

ⓘ 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: $2,853 · $238/mo
• Projected year-2 tax: $2,853 · $238/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 2/10 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: $26,213
• − Mortgage interest: −$14,844
• − Property taxes: −$2,853
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,097
• − Management: −$2,097
• − Depreciation: −$7,709
• Taxable loss: −$4,712
• Est. tax savings @ 24.0%: +$1,131
• After-tax cash flow: $985/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 — Port Salerno

• Score: 70/100
• State rank: #440
• US rank: #7873

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Martin County · 165,223 people
• Metro: Port St. Lucie, FL
• Population (ZIP): 47,075
• Household income: $78,136
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 1323.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 19% Two or more races 9% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 14% French/Haitian/Cajun 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: ▼ -319.78%
• Current HPI: 336.7717
• Rent YoY: ▲ 2.71%
• 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

+502.3% since first listed

2 events — show timeline

• 2026-05-30 Listed $265,000 Beaches MLS
• 1990-04-12 Sold (Public Records) $44,000 Public Records

Property tax history

+8.7%/yr

Latest (2025): $2,853 · +0.9% YoY. Source: county tax records.