1800 SE St. Lucie Blvd Unit 5-207 · Sewall's Point, FL 34996

$165,000

2 bd · 2.0 ba · 1,044 sqft · Condo public records · 65 Days on market

Built 1972 $158/sqft · 27% below area Est $224k · 26% under $894/mo HOA · 33% of rent

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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 +21.3/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• Appreciation +10.0/10.0
• DSCR +6.8/10.0
• Schools +4.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Enjoy the treasure coast lifestyle in this second-floor freshly painted, condo in elevator building, It boasts an open floor plan with island kitchen for easy entertaining, overlooking the living room, dining room and porch. Impact windows in L/R and guest bedroom, laminate floors, closet with space for a washer/dryer, custom closets, and extra storage unit. Conquistador is in premier Stuart location across from the St. Lucie River with its own park and fishing pier. It is next to Sailfish Sands public golf course and minutes from beaches, shops, and hospitals. It welcomes new residents with active clubhouse, tennis, pickleball, bocce ball, shuffleboard, gym, library with enthusiastic book club, multiple card games, and this list goes on!

Key facts

• Open floor plan
• Active clubhouse
• Island kitchen

Tags

• OPEN FLOOR PLAN
• ISLAND KITCHEN
• IMPACT WINDOWS
• CUSTOM CLOSETS
• EXTRA STORAGE UNIT
• ACTIVE CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $165k).
• Recommended offer: $155k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 0.7% in Sewall's Point — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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: 251 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Martin County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y 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 $138k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.
• Climate carrying-cost: major flood risk; 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 $155,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.63% ✓
• Cap rate: 8.04%
• Cash-on-cash: 6.24%
• DSCR: 1.28
• GRM: 5.1

CMA / ARV

• ARV (median comp): $223,955
• List price: $165,000
• Delta: -26.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.9%
• Equity multiple: 3.29×
• Total profit: $105,667
• Equity at exit: $148,645

10-year hold

• IRR: 25.2%
• Equity multiple: 7.50×
• Total profit: $300,127
• Equity at exit: $320,559

Cash invested: $46,200 (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 34996

• Home prices YoY: 2.1%
• Active inventory: 251
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,690 high
• Mortgage (P&I): −$865
• Tax from tax record: −$57 /mo · $683/yr
• Insurance: −$69
• HOA: −$894
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $240

Break-even live

Break-even rent $2,386

Max offer price $165,000

Occupancy floor 86%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1800 SE Saint Lucie Blvd Stuart, FL	2.0	2.0	1044	$2,600	$2.49	23d	3	0.04mi
1196 SE Saint Lucie Blvd Stuart, FL	2.0	2.0	1309	$4,300	$3.28	23d	1	0.45mi
3129 SE Indian St #3 Stuart, FL	2.0	1.5	986	$2,300	$2.33	23d	1	0.72mi
2950 SE Ocean Blvd Stuart, FL	2.0	2.0	1157	$1,800	$1.56	14d	3	0.80mi
2600 SE Ocean Blvd Stuart, FL	1.0–2.0	1.5–2.0	951	$1,900	$2.00	14d	3	0.84mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	14d	8	1.03mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	23d	6	1.03mi
3002 SE Camino Ave Stuart, FL	2.0	1.0	930	$2,000	$2.15	23d	1	1.13mi
3299 SE Garden St Stuart, FL	3.0	2.0	1360	$2,410	$1.77	23d	1	1.13mi
3003 SE Birch Ave Unit 3007 Stuart, FL	2.0	1.0	950	$2,200	$2.32	23d	1	1.14mi
2934 SE Ellendale St Stuart, FL	2.0	2.0	900	$2,000	$2.22	14d	1	1.17mi
3003 SE Fairmont St Stuart, FL	3.0	2.0	1366	$2,500	$1.83	14d	1	1.18mi
2929 SE Ocean Blvd Unit 130 Stuart, FL	2.0	2.0	1005	$1,800	$1.79	23d	1	1.19mi
2641 SE Clayton St Unit 2641 Stuart, FL	3.0	1.5	1150	$2,400	$2.09	23d	1	1.19mi
3166 SE Garden St Unit 3166 Stuart, FL	2.0	1.0	870	$1,900	$2.18	14d	1	1.20mi
3166 SE Garden St Stuart, FL	2.0	1.0	870	$1,850	$2.13	14d	1	1.20mi
300 SE Saint Lucie Blvd Stuart, FL	1.0–3.0	1.0–2.0	884	$2,258	$2.55	14d	12	1.32mi
262 SE Monterey Ave Stuart, FL	3.0	1.0	1001	$3,500	$3.50	23d	1	1.45mi
333 SE Martin Ave Unit 1F Stuart, FL	2.0	1.0	778	$1,800	$2.31	23d	1	1.47mi

HOA detail condo

• Monthly dues: $894 · $10,728/yr
• Likely covers: gym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $165,000 Active 65 DOM
2. 2026-06-17
   days on market $165,000 Active 64 DOM
3. 2026-06-16
   days on market $165,000 Active 63 DOM
4. 2026-06-15
   days on market $165,000 Active 62 DOM
5. 2026-06-14
   days on market $165,000 Active 60 DOM
6. 2026-06-13
   days on market $165,000 Active 59 DOM
7. 2026-06-10
   days on market $165,000 Active 57 DOM
8. 2026-06-09
   days on market $165,000 Active 56 DOM
9. 2026-06-08
   days on market $165,000 Active 55 DOM
10. 2026-06-07
    days on market $165,000 Active 54 DOM
11. 2026-06-03
    days on market $165,000 Active 50 DOM
12. 2026-06-02
    days on market $165,000 Active 49 DOM
13. 2026-06-01
    days on market $165,000 Active 48 DOM
14. 2026-05-31
    days on market $165,000 Active 47 DOM
15. 2026-05-31
    days on market $165,000 Active 46 DOM
16. 2026-04-14
    listed $165,000 Active 748-char remark

    Show marketing remark (748 chars)

    Enjoy the treasure coast lifestyle in this second-floor freshly painted, condo in elevator building, It boasts an open floor plan with island kitchen for easy entertaining, overlooking the living room, dining room and porch. Impact windows in L/R and guest bedroom, laminate floors, closet with space for a washer/dryer, custom closets, and extra storage unit. Conquistador is in premier Stuart location across from the St. Lucie River with its own park and fishing pier. It is next to Sailfish Sands public golf course and minutes from beaches, shops, and hospitals. It welcomes new residents with active clubhouse, tennis, pickleball, bocce ball, shuffleboard, gym, library with enthusiastic book club, multiple card games, and this list goes on!

17. 2026-04-14
    historical

    Show marketing remark (748 chars)

    Enjoy the treasure coast lifestyle in this second-floor freshly painted, condo in elevator building, It boasts an open floor plan with island kitchen for easy entertaining, overlooking the living room, dining room and porch. Impact windows in L/R and guest bedroom, laminate floors, closet with space for a washer/dryer, custom closets, and extra storage unit. Conquistador is in premier Stuart location across from the St. Lucie River with its own park and fishing pier. It is next to Sailfish Sands public golf course and minutes from beaches, shops, and hospitals. It welcomes new residents with active clubhouse, tennis, pickleball, bocce ball, shuffleboard, gym, library with enthusiastic book club, multiple card games, and this list goes on!

18. 2025-12-17
    price $169,900
19. 2025-06-05
    listed $189,900 Active
20. 2003-12-03
    soldstatus $138,000
21. 2003-11-26
    soldstatus $138,000
22. 2003-11-26
    soldstatus $138,000
23. 2003-10-22
    historical
24. 2003-06-09
    listed $144,000
25. 2003-06-09
    listed $144,000
26. 2001-07-23
    soldstatus $58,000

ⓘ 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: $683 · $57/mo
• Projected year-2 tax: $1,370 · $114/mo
• Expected delta: +$687/yr (+$57/mo · 100.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,282
• − Mortgage interest: −$9,243
• − Property taxes: −$683
• − Insurance: −$825
• − Repairs & maintenance: −$2,583
• − Management: −$2,583
• − HOA: −$10,728
• − Depreciation: −$4,800
• Taxable income: $839
• Est. tax owed @ 24.0%: −$201
• After-tax cash flow: $2,682/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 — Sewall's Point

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Martin County · 165,223 people
• City population: 10,875
• Metro: Port St. Lucie, FL
• Population (ZIP): 10,653
• Household income: $83,929
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 247.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Italian 3% Romanian 3% Slovak 3%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 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: ▲ 13.71%
• Current HPI: 658.96
• Rent YoY: —
• 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

+184.5% since first listed

11 events — show timeline

• 2026-04-14 Listing Removed — MCRTC
• 2026-04-14 Listed $165,000 MCRTC
• 2025-12-17 Price Changed $169,900 MCRTC
• 2025-06-05 Listed $189,900 MCRTC
• 2003-12-03 Sold (Public Records) $138,000 Public Records
• 2003-11-26 Sold (MLS) $138,000 Beaches MLS
• 2003-11-26 Sold (MLS) $138,000 MCRTC
• 2003-10-22 Listing Removed — Beaches MLS
• 2003-06-09 Listed $144,000 Beaches MLS
• 2003-06-09 Listed $144,000 MCRTC
• 2001-07-23 Sold (Public Records) $58,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $683 · -0.8% YoY. Source: county tax records.