9296 SW Michelle Dr · Stuart, FL 34997

$115,000

3 bd · 2.0 ba · 1,120 sqft · Manufactured · 127 Days on market

Manufactured home 55+ age-restricted Built 1980 Good condition $103/sqft · 12% below area Est $131k · 12% under ↓ 3% since listing

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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 +22.5/30.0
• ARV discount +13.0/15.0
• DSCR +7.5/10.0
• 1% rule +7.4/10.0
• Schools +4.8/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +3.2/5.0
• Appreciation +2.5/10.0
• Manufactured-home adj. -5.5

Listing remarks

Welcome to this beautifully updated 3-bedroom home in the quiet Royal Palms 55+ community. Thoughtfully renovated, it offers updated flooring, new sliding glass doors, and a new 2026 water heater for peace of mind. Located on an end lot, enjoy added privacy and a peaceful setting. Step outside to your own oasis with an outdoor shower, perfect after the beach. The covered patio features epoxy flooring, and the air-conditioned shed also includes epoxy flooring for a clean, versatile space. A separate, spacious laundry room adds convenience. * * Stunning furniture is included * * , making this home move-in ready. Welcome home.

Key facts

• New water heater
• Covered patio
• Updated flooring

Tags

• UPDATED FLOORING
• NEW SLIDING GLASS DOORS
• NEW WATER HEATER
• OUTDOOR SHOWER
• COVERED PATIO
• AIR-CONDITIONED SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $555 ($7k/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: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 3.2% 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.
• Zoned schools: Crystal Lake Elementary School (math 51% / reading 58%, grade C, #892 of 2,144 statewide, top 44%, 441 students, 38% FRL); Dr. David L. Anderson Middle School (math 51% / reading 46%, grade C-, #274 of 571 statewide, top 50%, 1,035 students, 63% FRL); South Fork High School (math 36% / reading 48%, grade F, #275 of 667 statewide, top 42%, 1,810 students, 51% FRL).
• Market conditions: Rents rising (+2.7%/yr); 731 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).

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.
• At projected returns (-3.0% appreciation + 2.7% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.49% ✓
• Cap rate: 12.08%
• Cash-on-cash: 20.68%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

• ARV (median comp): $131,000
• List price: $115,000
• Delta: -12.21%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9274 SW Mary Dr E	0.04mi	3/3.0	1,200 (+7%)	8mo	$95,000	$79	76
9161 SW Ackel Dr	0.13mi	2/2.0 (-1)	1,200 (+7%)	12mo	$49,000	$41	66
9273 SW Mary Dr	0.06mi	2/2.0 (-1)	980 (-12%)	6mo	$89,000	$91	66
2554 SW Olds Pl	0.65mi	2/2.0 (-1)	1,126 (+0%)	13mo	$160,000	$142	53
2596 SW Olds Pl	0.68mi	2/2.0 (-1)	1,090 (-3%)	14mo	$204,000	$187	47
2542 SW Marquis Ter	0.65mi	2/2.0 (-1)	1,221 (+9%)	18mo	$233,000	$191	35
2401 SW Olds Pl	0.52mi	2/2.0 (-1)	1,273 (+14%)	17mo	$215,000	$169	34
2566 SW Pontiac Pl	0.65mi	2/2.0 (-1)	1,252 (+12%)	15mo	$151,500	$121	32
2661 SW Toronado Trl	0.75mi	2/2.0 (-1)	1,237 (+10%)	13mo	$192,500	$156	32
8921 SW Chevy Cir	0.70mi	2/2.0 (-1)	1,000 (-11%)	20mo	$249,900	$250	27

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: 12.7%
• Equity multiple: 1.50×
• Total profit: $16,233
• Equity at exit: $17,147

10-year hold

• IRR: 21.4%
• Equity multiple: 2.79×
• Total profit: $57,718
• 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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 7 active · 2 under contract
• Months of supply: 10.5 mo (10%/mo absorbed)
• Median asking: $189,000 ($151/sqft)
• Median days on market: 60 d
• This list price: 29% of active listings are priced below it
• ARV vs active asking: -22.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 34997

• Rents YoY: 2.7%
• Active inventory: 731
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,708 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $555

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 63%

Sensitivity live

Price	-10% $634	-5% $595	+0% $555	+5% $515	+10% $475
Rent	-10% $420	-5% $487	+0% $555	+5% $622	+10% $690
Rate	-1.0pp $613	-0.5pp $584	base $555	+0.5pp $525	+1.0pp $495

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2799 SW Monarch Trl Stuart, FL	2.0	2.0	988	$1,800	$1.82	15d	1	0.88mi

Property features AI

Finance

• Financial info: Monthly land lease of $828 (land lease expires 2027-04-02)
• HOA & community: Community association with clubhouse, community room, library, picnic area, manager on site and managementAssociation fees paid monthly; association covers grounds maintenance, trash, water, hot water, common areas and recreation facilitySenior communityPets allowed (cats and dogs OK)

Exterior

• Parking: Attached carport (1 covered/carport space, total 2 parking spaces)
• Utilities: Public waterPublic sewer220V in kitchen and laundryCircuit breakersCable availableElectricity connectedWater connectedSewer connected
• Home design: Manufactured home (single wide)One storyEast-facing
• Construction: Pre-fab constructionAluminum roofAluminum skirtingSlab foundationBuilt/updated as resale, remodeled
• Exterior features: Corner lotShed(s)

Interior

• Kitchen: Electric rangeMicrowaveRefrigerator
• Bedrooms: Three bedrooms on the main level
• Flooring: CarpetVinyl
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central heatingCentral airCeiling fan(s)Wall/window unit(s)
• Interior features: BlindsUpdated/remodeled condition
• Laundry & utility: Laundry room with washer and electric dryer hook-upsENERGY STAR qualified dryer included

Listing history 50 events

1. 2026-08-08
   days on market $115,000 Active 127 DOM
2. 2026-08-07
   days on market $115,000 Active 126 DOM
3. 2026-08-06
   days on market $115,000 Active 125 DOM
4. 2026-08-05
   days on market $115,000 Active 124 DOM
5. 2026-08-04
   days on market $115,000 Active 123 DOM
6. 2026-08-03
   days on market $115,000 Active 122 DOM
7. 2026-07-31
   days on market $115,000 Active 119 DOM
8. 2026-07-29
   days on market $115,000 Active 117 DOM
9. 2026-07-27
   days on market $115,000 Active 115 DOM
10. 2026-07-25
    days on market $115,000 Active 113 DOM
11. 2026-07-23
    days on market $115,000 Active 111 DOM
12. 2026-07-22
    days on market $115,000 Active 110 DOM
13. 2026-07-21
    days on market $115,000 Active 109 DOM
14. 2026-07-18
    days on market $115,000 Active 106 DOM
15. 2026-07-16
    days on market $115,000 Active 104 DOM
16. 2026-07-16
    days on market $115,000 Active 103 DOM
17. 2026-07-14
    days on market $115,000 Active 102 DOM
18. 2026-07-13
    days on market $115,000 Active 101 DOM
19. 2026-07-12
    days on market $115,000 Active 100 DOM
20. 2026-07-11
    days on market $115,000 Active 99 DOM
21. 2026-07-10
    days on market $115,000 Active 98 DOM
22. 2026-07-09
    days on market $115,000 Active 97 DOM
23. 2026-07-08
    days on market $115,000 Active 96 DOM
24. 2026-07-07
    days on market $115,000 Active 95 DOM
25. 2026-07-06
    days on market $115,000 Active 94 DOM
26. 2026-07-05
    days on market $115,000 Active 93 DOM
27. 2026-07-04
    days on market $115,000 Active 92 DOM
28. 2026-07-03
    days on market $115,000 Active 91 DOM
29. 2026-07-02
    days on market $115,000 Active 90 DOM
30. 2026-07-01
    days on market $115,000 Active 89 DOM
31. 2026-06-30
    days on market $115,000 Active 88 DOM
32. 2026-06-29
    days on market $115,000 Active 87 DOM
33. 2026-06-28
    days on market $115,000 Active 86 DOM
34. 2026-06-28
    days on market $115,000 Active 85 DOM
35. 2026-06-27
    days on market $115,000 Active 84 DOM
36. 2026-06-25
    pricedays on market $115,000 Active 82 DOM
37. 2026-06-23
    days on market $119,000 Active 80 DOM
38. 2026-06-21
    days on market $119,000 Active 79 DOM
39. 2026-06-18
    days on market $119,000 Active 76 DOM
40. 2026-06-17
    days on market $119,000 Active 75 DOM
41. 2026-06-16
    days on market $119,000 Active 74 DOM
42. 2026-06-15
    days on market $119,000 Active 73 DOM
43. 2026-06-14
    days on market $119,000 Active 71 DOM
44. 2026-06-13
    days on market $119,000 Active 70 DOM
45. 2026-06-10
    days on market $119,000 Active 68 DOM
46. 2026-06-09
    days on market $119,000 Active 67 DOM
47. 2026-06-08
    days on market $119,000 Active 66 DOM
48. 2026-06-07
    days on market $119,000 Active 65 DOM
49. 2026-06-03
    days on market $119,000 Active 61 DOM
50. 2026-06-02
    days on market $119,000 Active 60 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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $20,500
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,640
• − Management: −$1,640
• − Depreciation: −$3,345
• Taxable income: $5,133
• Est. tax owed @ 24.0%: −$1,232
• After-tax cash flow: $5,426/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 · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $5,600–$16,800 screening

This beautifully updated 3-bedroom home in the Royal Palms 55+ community is move-in ready with fresh paint, updated appliances, and modern amenities.

Value-add opportunities

• Both Paint exterior — Fresh paint can enhance curb appeal and value ↑
• Both Replace air conditioning unit — Modern AC improves comfort and energy efficiency ↑
• Both Update kitchen appliances — Modern appliances can increase appeal and value ↑
• Both Install smart home features — Smart home features can increase convenience and value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 48/100

Zoned Schools

Elementary Crystal Lake Elementary School C FL #892/2,144 Nat'l #9,801/41,679 Middle Dr. David L. Anderson Middle School C- FL #274/571 Nat'l #3,846/14,009 High South Fork High School F FL #275/667 Nat'l #7,572/17,239

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

A Composite livability gradescore 84/100

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

• County: Martin County · 172,383 people
• City population: 65,812
• 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: 7% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• Financial info: Monthly land lease of $828 (land lease expires 2027-04-02)
• HOA & community: Community association with clubhouse, community room, library, picnic area, manager on site and managementAssociation fees paid monthly; association covers grounds maintenance, trash, water, hot water, common areas and recreation facilitySenior communityPets allowed (cats and dogs OK)

Exterior

• Parking: Attached carport (1 covered/carport space, total 2 parking spaces)
• Utilities: Public waterPublic sewer220V in kitchen and laundryCircuit breakersCable availableElectricity connectedWater connectedSewer connected
• Home design: Manufactured home (single wide)One storyEast-facing
• Construction: Pre-fab constructionAluminum roofAluminum skirtingSlab foundationBuilt/updated as resale, remodeled
• Exterior features: Corner lotShed(s)

Interior

• Kitchen: Electric rangeMicrowaveRefrigerator
• Bedrooms: Three bedrooms on the main level
• Flooring: CarpetVinyl
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central heatingCentral airCeiling fan(s)Wall/window unit(s)
• Interior features: BlindsUpdated/remodeled condition
• Laundry & utility: Laundry room with washer and electric dryer hook-upsENERGY STAR qualified dryer included

Price history

-3.4% since first listed

2 events — show timeline

• 2026-06-24 Price Changed $115,000 Beaches MLS
• 2026-04-03 Listed $119,000 Beaches MLS