9296 SW Michelle Dr · Stuart, FL 34997

$99,999

3 bd · 2.0 ba · 1,120 sqft · Manufactured · 219 Days on market

Manufactured home 55+ age-restricted Built 1980 Good condition $89/sqft · 44% below area Est $180k · 44% under ↓ 3% since listing

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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 +22.5/30.0
• ARV discount +15.0/15.0
• 1% rule +7.5/10.0
• DSCR +7.5/10.0
• 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. -5.7

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 $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $662 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 3.5% 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); 936 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 $691 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 $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 219 days — a 12% lower offer ($88k) 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 $87,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 219 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: 1.71% ✓
• Cap rate: 14.24%
• Cash-on-cash: 28.38%
• DSCR: 2.26
• GRM: 4.9

CMA / ARV

• ARV (median comp): $180,000
• List price: $99,999
• Delta: -44.45%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 11 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%)	11mo	$95,000	$79	73
9161 SW Ackel Dr	0.13mi	2/2.0 (-1)	1,200 (+7%)	16mo	$49,000	$41	64
9273 SW Mary Dr	0.06mi	2/2.0 (-1)	980 (-12%)	10mo	$89,000	$91	63
2554 SW Olds Pl	0.65mi	2/2.0 (-1)	1,126 (+0%)	16mo	$160,000	$142	51
2596 SW Olds Pl	0.68mi	2/2.0 (-1)	1,090 (-3%)	17mo	$204,000	$187	45
2502 SW Versailles Ter	0.62mi	2/2.0 (-1)	1,272 (+14%)	0mo	$221,000	$174	43
2542 SW Marquis Ter	0.65mi	2/2.0 (-1)	1,221 (+9%)	21mo	$233,000	$191	32
2401 SW Olds Pl	0.52mi	2/2.0 (-1)	1,273 (+14%)	20mo	$215,000	$169	31
2566 SW Pontiac Pl	0.65mi	2/2.0 (-1)	1,252 (+12%)	18mo	$151,500	$121	30
2661 SW Toronado Trl	0.75mi	2/2.0 (-1)	1,237 (+10%)	16mo	$192,500	$156	29
8921 SW Chevy Cir	0.70mi	2/2.0 (-1)	1,000 (-11%)	23mo	$249,900	$250	25

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: 22.3%
• Equity multiple: 1.91×
• Total profit: $25,501
• Equity at exit: $14,910

10-year hold

• IRR: 30.1%
• Equity multiple: 3.66×
• Total profit: $74,588
• Equity at exit: $8,646

Cash invested: $28,000 (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: 6 active · 6 under contract
• Months of supply: 9.0 mo (11%/mo absorbed)
• Median asking: $160,000 ($140/sqft)
• Median days on market: 86 d
• This list price: 33% of active listings are priced below it
• ARV vs active asking: +14.9% above 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: 936
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,713 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $662

Break-even live

Break-even rent $875

Max offer price $99,999

Occupancy floor 56%

Sensitivity live

Price	-10% $731	-5% $697	+0% $662	+5% $628	+10% $593
Rent	-10% $527	-5% $595	+0% $662	+5% $730	+10% $798
Rate	-1.0pp $713	-0.5pp $688	base $662	+0.5pp $636	+1.0pp $610

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: $25,000
• Closing costs: $3,000
• 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	$1,700	$1.72	10d	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. 2026-11-08
   days on market $99,999 Active 219 DOM
2. 2026-11-07
   days on market $99,999 Active 218 DOM
3. 2026-11-07
   price $99,999 Active 217 DOM
4. 2026-11-06
   days on market $115,000 Active 217 DOM
5. 2026-11-05
   days on market $115,000 Active 216 DOM
6. 2026-11-04
   days on market $115,000 Active 215 DOM
7. 2026-11-02
   days on market $115,000 Active 213 DOM
8. 2026-11-01
   days on market $115,000 Active 212 DOM
9. 2026-10-31
   days on market $115,000 Active 211 DOM
10. 2026-10-30
    days on market $115,000 Active 210 DOM
11. 2026-10-29
    days on market $115,000 Active 209 DOM
12. 2026-10-28
    days on market $115,000 Active 208 DOM
13. 2026-10-27
    days on market $115,000 Active 207 DOM
14. 2026-10-26
    days on market $115,000 Active 206 DOM
15. 2026-10-26
    days on market $115,000 Active 205 DOM
16. 2026-10-24
    days on market $115,000 Active 204 DOM
17. 2026-10-23
    days on market $115,000 Active 203 DOM
18. 2026-10-22
    days on market $115,000 Active 202 DOM
19. 2026-10-21
    days on market $115,000 Active 201 DOM
20. 2026-10-20
    days on market $115,000 Active 200 DOM
21. 2026-10-19
    days on market $115,000 Active 199 DOM
22. 2026-10-18
    days on market $115,000 Active 198 DOM
23. 2026-10-17
    days on market $115,000 Active 197 DOM
24. 2026-10-16
    days on market $115,000 Active 196 DOM
25. 2026-10-15
    days on market $115,000 Active 195 DOM
26. 2026-10-14
    days on market $115,000 Active 194 DOM
27. 2026-10-13
    days on market $115,000 Active 193 DOM
28. 2026-10-12
    days on market $115,000 Active 192 DOM
29. 2026-10-11
    days on market $115,000 Active 191 DOM
30. 2026-10-10
    days on market $115,000 Active 190 DOM
31. 2026-10-09
    days on market $115,000 Active 189 DOM
32. 2026-10-08
    days on market $115,000 Active 188 DOM
33. 2026-10-07
    days on market $115,000 Active 187 DOM
34. 2026-10-06
    days on market $115,000 Active 186 DOM
35. 2026-10-05
    days on market $115,000 Active 185 DOM
36. 2026-10-04
    days on market $115,000 Active 184 DOM
37. 2026-10-03
    days on market $115,000 Active 183 DOM
38. 2026-10-02
    days on market $115,000 Active 182 DOM
39. 2026-10-01
    days on market $115,000 Active 181 DOM
40. 2026-09-30
    days on market $115,000 Active 180 DOM
41. 2026-09-29
    days on market $115,000 Active 179 DOM
42. 2026-09-27
    days on market $115,000 Active 177 DOM
43. 2026-09-25
    days on market $115,000 Active 175 DOM
44. 2026-09-24
    days on market $115,000 Active 174 DOM
45. 2026-09-23
    days on market $115,000 Active 173 DOM
46. 2026-09-22
    days on market $115,000 Active 172 DOM
47. 2026-09-21
    days on market $115,000 Active 171 DOM
48. 2026-09-20
    days on market $115,000 Active 170 DOM
49. 2026-09-19
    days on market $115,000 Active 169 DOM
50. 2026-09-18
    days on market $115,000 Active 168 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: $20,556
• − Mortgage interest: −$5,601
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$1,645
• − Management: −$1,645
• − Depreciation: −$2,909
• Taxable income: $6,757
• Est. tax owed @ 24.0%: −$1,622
• After-tax cash flow: $6,325/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%
• 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