7199 SE Redbird Cir · Hobe Sound, FL 33455

$168,500

2 bd · 1.0 ba · 840 sqft · Manufactured public records · 16 Days on market

Built 1979 6,368 sqft lot Est $158k · 7% over

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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 +27.1/30.0
• DSCR +9.4/10.0
• 1% rule +7.0/10.0
• ARV discount +4.5/15.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A charming 2-bedroom, 2-bathroom mobile home with a large sunroom, along with a large screened-in porch. A new roof was installed in January 2025. This home comes with a sprinkler system to help keep your yard looking good year-round. A new stove was recently installed, and this home has been well maintained with pest control and service agreements on the HVAC System. This home is in a quiet community and offers a relaxing lifestyle. Come check out this little gem and start living the Florida dream.

Key facts

• Large sunroom
• 6,368 sq ft lot
• 3 parking spots

Tags

• LARGE SUNROOM
• LARGE SCREENED-IN PORCH

Property features AI

Finance

• Other: Pets allowed with breed restrictions
• Financial info: No land lease

Exterior

• Parking: 3 total parking spaces; Attached carport (1 covered space); Driveway; Open parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity available; Cable available; Phone available; Water available; Sewer available
• Home design: Manufactured home; One story; Two levels listed; Faces west; Resale condition
• Construction: Metal siding; Metal roof; Permanent foundation; Mobile home remains on site; Built as a manufactured home
• Exterior features: Covered patio; Screened patio; Screened porch; Glass-enclosed porch

Interior

• Kitchen: Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fan(s)
• Interior features: Split bedroom layout; Unfurnished; Smoke detector(s)
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $168k.

Deal economics

• At list price, monthly cash flow is $478 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• Recommended offer: $166k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.7% 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.
• Zoned schools: Hobe Sound Elementary School (math 51% / reading 48%, grade D, #1,088 of 2,144 statewide, top 53%, 459 students, 68% FRL); Murray Middle School (math 45% / reading 43%, grade D, #327 of 571 statewide, top 57%, 616 students, 69% FRL); South Fork High School (math 36% / reading 48%, grade F, #275 of 667 statewide, top 42%, 1,810 students, 51% 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 (+1.8%/yr); 279 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 35% 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 $1k of loan paydown is wiped out by about $5k 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 16 days — a 2% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $47k; list at $168k implies a 259% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,972 (1.5% below list)

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.20% ✓
• Cap rate: 9.70%
• Cash-on-cash: 12.16%
• DSCR: 1.54
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $157,920
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7142 SE Bluebird Cir	0.25mi	2/2.0	840 (0%)	11mo	$120,000	$143	75
8435 SE Wren Ave	0.14mi	2/2.0	888 (+6%)	14mo	$135,000	$152	68
7126 SE Redbird Cir	0.09mi	2/2.0	770 (-8%)	12mo	$130,000	$169	68
8500 SE Eagle Ave	0.08mi	2/2.0	960 (+14%)	4mo	$135,000	$141	65
8217 SE Swan Ave	0.26mi	2/2.0	960 (+14%)	2mo	$196,000	$204	58
6900 SE Congress St	0.34mi	2/2.0	960 (+14%)	3mo	$138,000	$144	54
7991 SE Homestead Ave	0.49mi	2/2.0	873 (+4%)	16mo	$110,000	$126	54
8008 SE Swan Ave	0.45mi	2/2.0	720 (-14%)	2mo	$145,000	$201	50
7667 SE Swan Ave	0.75mi	2/1.0	920 (+10%)	1mo	$185,000	$201	48
7749 SE Eagle Ave	0.66mi	2/2.0	896 (+7%)	7mo	$210,000	$234	48
8001 SE Shenandoah Dr	0.53mi	2/2.0	960 (+14%)	7mo	$180,000	$188	42
7943 SE Saratoga Dr	0.62mi	2/2.0	936 (+11%)	15mo	$197,000	$210	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: 0.4%
• Equity multiple: 1.02×
• Total profit: $746
• Equity at exit: $25,124

10-year hold

• IRR: 8.8%
• Equity multiple: 1.64×
• Total profit: $30,216
• Equity at exit: $14,569

Cash invested: $47,180 (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: 6.9×

Monthly cashflow live

• Estimated rent: $2,024 high
• Mortgage (P&I): −$884
• Tax from tax record: −$167 /mo · $2,003/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $478

Break-even live

Break-even rent $1,419

Max offer price $168,500

Occupancy floor 71%

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: $42,125
• Closing costs: $5,055
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7109 SE Ridgeway Ter Hobe Sound, FL	2.0	1.0	624	$1,600	$2.56	21d	1	0.14mi
8160 SE Eagle Ave Hobe Sound, FL	2.0	1.0	672	$1,600	$2.38	23d	1	0.28mi
6948 SE Delegate St Hobe Sound, FL	2.0	2.0	840	$1,775	$2.11	23d	1	0.34mi
8002 SE Skylark Ave Hobe Sound, FL	3.0	2.0	990	$2,000	$2.02	23d	1	0.40mi
8905 SE Sandy Ln Hobe Sound, FL	2.0	2.0	1006	$1,850	$1.84	23d	1	0.45mi
8997 SE Sandy Ln Hobe Sound, FL	2.0	1.0	900	$2,000	$2.22	23d	1	0.52mi
9073 SE Hobe Ridge Ave Hobe Sound, FL	2.0	2.0	1029	$2,100	$2.04	14d	1	0.60mi
7568 SE Swan Ave Hobe Sound, FL	2.0	2.0	1052	$2,300	$2.19	23d	1	0.82mi
7959 SE Woodview Ter Hobe Sound, FL	1.0	1.0	700	$1,675	$2.39	23d	4	0.88mi
7920 SE Woodview Ter Unit 792007 Hobe Sound, FL	1.0	1.0	700	$1,675	$2.39	23d	1	0.90mi
8005 SE Villa Cir Hobe Sound, FL	2.0	2.0	1026	$1,850	$1.80	23d	1	1.25mi
8042 SE Villa Cir Unit 8042 Hobe Sound, FL	2.0	2.0	1026	$1,950	$1.90	23d	1	1.30mi

Listing history 5 events

1. 2026-04-30
   status Pending
2. 2026-04-28
   price $168,500
3. 2026-04-14
   listed $172,500 Active
4. 1986-10-01
   soldstatus $47,000
5. 1979-05-01
   soldstatus $11,900

ⓘ 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: $2,003 · $167/mo
• Projected year-2 tax: $2,003 · $167/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,289
• − Mortgage interest: −$9,439
• − Property taxes: −$2,003
• − Insurance: −$842
• − Repairs & maintenance: −$1,943
• − Management: −$1,943
• − Depreciation: −$4,902
• Taxable income: $3,217
• Est. tax owed @ 24.0%: −$772
• After-tax cash flow: $4,967/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 — 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

+1316.0% since first listed

5 events — show timeline

• 2026-04-30 Pending — Beaches MLS
• 2026-04-28 Price Changed $168,500 Beaches MLS
• 2026-04-14 Listed $172,500 Beaches MLS
• 1986-10-01 Sold (Public Records) $47,000 Public Records
• 1979-05-01 Sold (Public Records) $11,900 Public Records

Property tax history

+8.1%/yr

Latest (2025): $2,003 · +4.5% YoY. Source: county tax records.