11000 SE Federal Hwy · Hobe Sound, FL 33455

$124,900

2 bd · 2.0 ba · 672 sqft · Manufactured · 17 Days on market

Built 1970 Fair condition

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Well maintained mobile home in a beautiful 55 plus Florida cooperative community with low maintenance fees which increase only if park expenses increase. Situated 2.5 miles from the ocean and the home backs onto the Atlantic preserves. Mobile is sold as Real Property and owner share in the park in s sold separately. Affordable living on the Florida Treasure Coast. Large carport with shed. Furnished and turn key. Washer and dryer in outside shed. Impact resistant windows with clamshells shutters. Salt system and hot water heater outside.

Key facts

• Low maintenance fees
• Large carport
• Built 1970

Tags

• FLORIDA COOPERATIVE COMMUNITY
• LOW MAINTENANCE FEES
• 2.5 MILES FROM THE OCEAN
• BACKS ONTO ATLANTIC PRESERVES
• LARGE CARPORT
• IMPACT RESISTANT WINDOWS

🏢 Co-op / cooperative unit. The $124,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $125k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $676 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 3.5% in Hobe Sound — 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 69/100 on livability (#497 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A; Watch: employment C-, 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 rising (+1.8%/yr); 279 active listings in the ZIP; 3 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 33% of the median local income ($70k/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 $864 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 23 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $80k; list at $125k implies a 56% 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; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,026 (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 1970 — 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. 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.
5. 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.
6. 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: 1.56% ✓
• Cap rate: 12.79%
• Cash-on-cash: 23.20%
• DSCR: 2.03
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $81,984
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11055 SE Federal Hwy	0.20mi	2/1.0	600 (-11%)	1mo	$73,000	$122	68
10885 SE Federal Hwy #55	0.35mi	2/1.0	672 (0%)	15mo	$72,000	$107	67
7905 SE Fairchild Way	0.70mi	2/1.0	730 (+9%)	16mo	$185,000	$253	35

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 · 1.8% rent growth · sell at horizon

5-year hold

• IRR: 14.9%
• Equity multiple: 1.59×
• Total profit: $20,534
• Equity at exit: $18,623

10-year hold

• IRR: 22.7%
• Equity multiple: 2.83×
• Total profit: $64,146
• Equity at exit: $10,799

Cash invested: $34,972 (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 33455

• Rents YoY: 1.8%
• Active inventory: 279
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,949 medium
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $676

Break-even live

Break-even rent $1,093

Max offer price $124,900

Occupancy floor 60%

Sensitivity live

Price	-10% $763	-5% $719	+0% $676	+5% $633	+10% $590
Rent	-10% $522	-5% $599	+0% $676	+5% $753	+10% $830
Rate	-1.0pp $739	-0.5pp $708	base $676	+0.5pp $644	+1.0pp $611

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10230 SE Federal Hwy Lot 13 Hobe Sound, FL	1.0	1.0	700	$1,250	$1.79	24d	1	0.76mi
11810 SE Dixie Hwy Unit 1 Hobe Sound, FL	1.0	1.0	403	$2,000	$4.96	24d	1	1.09mi
7920 SE Woodview Ter Unit 792007 Hobe Sound, FL	1.0	1.0	700	$1,675	$2.39	24d	1	1.49mi

Listing history 13 events

1. 2026-06-18
   days on market $124,900 Active 17 DOM
2. 2026-06-17
   days on market $124,900 Active 16 DOM
3. 2026-06-16
   days on market $124,900 Active 15 DOM
4. 2026-06-15
   days on market $124,900 Active 14 DOM
5. 2026-06-14
   days on market $124,900 Active 12 DOM
6. 2026-06-13
   days on market $124,900 Active 11 DOM
7. 2026-06-10
   days on market $124,900 Active 9 DOM
8. 2026-06-09
   days on market $124,900 Active 8 DOM
9. 2026-06-08
   days on market $124,900 Active 7 DOM
10. 2026-06-07
    days on market $124,900 Active 6 DOM
11. 2026-06-03
    days on market $124,900 Active 2 DOM
12. 2026-06-02
    remarks 542-char remark
13. 2026-06-02
    listed $124,900 Active 1 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,383
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$624
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − Depreciation: −$3,633
• Taxable income: $6,514
• Est. tax owed @ 24.0%: −$1,563
• After-tax cash flow: $6,551/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 · 1 photo

Fair 40/100 Moderate rehab

This mobile home requires extensive repairs and updates to bring it up to a fair condition. Painting, flooring, and kitchen/bathroom upgrades are essential to increase its resale and rental value.

Repairs flagged

• Major kitchen — No photos of kitchen
• Major bathrooms — No photos of bathrooms
• Major roof — No photos of roof
• Major exterior — No photos of exterior
• Major flooring — No photos of flooring
• Major interior walls/paint — No photos of interior walls/paint
• Major windows — No photos of windows
• Major foundation/structure — No photos of foundation/structure
• Major HVAC/mechanicals — No photos of HVAC/mechanicals
• Major landscaping/curb appeal — No photos of landscaping/curb appeal

Value-add opportunities

• Both Paint interior walls and trim — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace flooring — New flooring improves comfort and appearance
• Both Upgrade kitchen and bathrooms — Modern kitchens and bathrooms attract more buyers and renters
• Both Install new windows and doors — New windows and doors improve energy efficiency and curb appeal
• Both Landscaping and curb appeal — Well-maintained landscaping enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen · No photos of kitchen	Major	$15,000–50,000
bathrooms · No photos of bathrooms	Major	$15,000–50,000
roof · No photos of roof	Major	$15,000–50,000
exterior · No photos of exterior	Major	$15,000–50,000
flooring · No photos of flooring	Major	$15,000–50,000
interior walls/paint · No photos of interior walls/paint	Major	$15,000–50,000
windows · No photos of windows	Major	$15,000–50,000
foundation/structure · No photos of foundation/structure	Major	$15,000–50,000
HVAC/mechanicals · No photos of HVAC/mechanicals	Major	$15,000–50,000
landscaping/curb appeal · No photos of landscaping/curb appeal	Major	$15,000–50,000
Total estimated repair cost · 10 items		$150,000–500,000

Value-add ROI direction

• Both Paint interior walls and trim — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace flooring — New flooring improves comfort and appearance ↑
• Both Upgrade kitchen and bathrooms — Modern kitchens and bathrooms attract more buyers and renters ↑
• Both Install new windows and doors — New windows and doors improve energy efficiency and curb appeal ↑
• Both Landscaping and curb appeal — Well-maintained landscaping enhances curb appeal and property value ↑

ⓘ 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 — Hobe Sound

• Score: 69/100
• State rank: #497
• US rank: #8763

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hobe Sound, FL
• County: Martin County · 165,223 people
• City population: 20,018
• Metro: Port St. Lucie, FL
• Population (ZIP): 20,018
• Household income: $70,389
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 317.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 8% Two or more races 6% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Dominican 1%
• Common ancestry: Romanian 5% Italian 2% Slovak 2%
• Foreign-born: 8% · Canada
• Languages at home: 91% English-only · Spanish 6% 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: ▼ -287.05%
• Current HPI: 356.7273
• Rent YoY: ▲ 1.80%
• 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

+45.2% since first listed

52 events — show timeline

• 2026-06-02 Listed $124,900 FSBO.com
• 2016-06-26 Listing Removed — MCRTC
• 2016-06-26 Listing Removed — MCRTC
• 2016-06-26 Listing Removed — MCRTC
• 2016-06-26 Listing Removed — MCRTC
• 2016-06-26 Listing Removed — MCRTC
• 2014-05-29 Listing Removed — MCRTC
• 2013-09-21 Listing Removed — Beaches MLS
• 2013-09-21 Listing Removed — Beaches MLS
• 2013-03-24 Listing Removed — MCRTC
• 2012-04-15 Listing Removed — MCRTC
• 2012-03-23 Listed $49,900 MCRTC
• 2011-01-10 Sold (MLS) $79,900 MCRTC
• 2010-12-20 Listed $35,111 Beaches MLS
• 2010-12-06 Listed $79,900 MCRTC
• 2010-10-14 Listed $35,111 MCRTC
• 2010-06-03 Listed $90,000 MCRTC
• 2009-07-22 Listed $42,111 MCRTC
• 2009-07-09 Listed $55,111 MCRTC
• 2009-05-01 Price Changed $44,900 MCRTC
• 2009-05-01 Sold (MLS) $30,000 MCRTC
• 2008-12-11 Listed $155,111 MCRTC
• 2008-12-11 Listed $49,111 MCRTC
• 2008-12-09 Listed $48,500 MCRTC
• 2008-06-27 Listed $30,000 MCRTC
• 2007-09-05 Price Changed $86,735 MCRTC
• 2007-09-05 Sold (MLS) $65,000 MCRTC
• 2007-04-02 Price Changed $72,900 MCRTC
• 2007-04-02 Sold (MLS) $60,500 MCRTC
• 2007-02-27 Listed $65,000 MCRTC
• 2006-10-20 Listing Removed — MCRTC
• 2006-10-01 Listed $60,500 MCRTC
• 2006-09-20 Listing Removed — MCRTC
• 2006-07-31 Listing Removed — MCRTC
• 2006-05-19 Price Changed $57,500 MCRTC
• 2006-05-19 Sold (MLS) $55,500 MCRTC
• 2006-05-19 Sold (MLS) $55,500 Beaches MLS
• 2006-05-05 Listing Removed — Beaches MLS
• 2006-04-21 Listed $84,000 MCRTC
• 2006-04-10 Sold (MLS) $55,414 MCRTC
• 2006-04-10 Price Changed $62,000 MCRTC
• 2006-04-10 Sold (MLS) $55,415 Beaches MLS
• 2006-04-08 Listing Removed — Beaches MLS
• 2006-03-21 Listed $75,900 MCRTC
• 2006-03-16 Listing Removed — MCRTC
• 2006-03-01 Listed $55,500 MCRTC
• 2006-03-01 Listed $57,500 Beaches MLS
• 2006-02-13 Listed $55,414 MCRTC
• 2006-02-13 Listed $62,000 Beaches MLS
• 2006-01-06 Listed $55,000 Beaches MLS
• 2006-01-06 Listed $55,000 MCRTC
• 2005-12-16 Listed $86,000 MCRTC