8396 SE Wren Ave · Hobe Sound, FL 33455

$122,500

1 bd · 2.0 ba · 720 sqft · Manufactured public records · 40 Days on market

Built 1986 Est $148k · 17% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

LOVELY 2 BEDRM/2 BATH HOME IN RIDGEWAY (55+ COMMUNITY). LOOK AT THE PHOTOS AND SEE THE RENOVATIONS ALREADY DONE TO THE KITCHEN & LIVING ROOM. FLA ROOM NEEDS FINISHING TO THE CEILING (PRICED ACCORDINGLY). SPLIT BEDRM PLAN - GORGEOUS NEW KITCHEN OPEN TO THE LIVING ROOM & FL ROOM. FACING EAST TO CATCH THOSE OCEAN BREEZES - ROOF OVER (DOUBLE ROOF) & GREAT SCREEN ROOM. 7/10s OF A MILE FROM THE ICW BOAT RAMP. MINUTES FROM THE PRISTINE HOBE SOUND BEACHES, SHOPPING & RESTAURANTS. OWN THE LAND - LOW HOA FEES OF $125.00/YEAR. ALL PETS WELCOME. FLORIDA LIVING AT ITS BEST.

Key facts

• Easy access
• Cbs home
• Hobe sound beach

Tags

• CBS HOME
• EASY ACCESS
• NEW PUBLIX
• HOBE SOUND BEACH

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath manufactured listed at $122k.

Deal economics

• At list price, monthly cash flow is $586 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $122k).
• Recommended offer: $119k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 3.3% 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); 284 active listings in the ZIP; 4 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 32% 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 $847 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 $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y 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 $45k; list at $122k implies a 172% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,825 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.51% ✓
• Cap rate: 12.03%
• Cash-on-cash: 20.50%
• DSCR: 1.91
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $147,600
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8008 SE Swan Ave	0.41mi	2/2.0 (+1)	720 (0%)	2mo	$145,000	$201	75
8121 SE Skylark Ave	0.24mi	2/1.5 (+1)	672 (-7%)	2mo	$165,000	$246	69
8130 SE Eagle Ave	0.27mi	2/2.0 (+1)	672 (-7%)	3mo	$110,000	$164	69
8353 SE Sandy Ln	0.12mi	2/1.0 (+1)	732 (+2%)	18mo	$150,000	$205	68
7000 SE Ridgeway Ter SE	0.28mi	2/1.5 (+1)	672 (-7%)	2mo	$121,000	$180	67
7126 SE Redbird Cir	0.18mi	2/2.0 (+1)	770 (+7%)	12mo	$130,000	$169	65
7180 SE Ridgeway Ter	0.12mi	2/2.0 (+1)	780 (+8%)	17mo	$160,000	$205	62
8126 SE Wren Ave	0.25mi	2/2.0 (+1)	740 (+3%)	23mo	$190,000	$257	60
7836 SE Wren Ave	0.50mi	2/2.0 (+1)	672 (-7%)	8mo	$185,000	$275	54
7816 SE Wren Ave	0.52mi	2/1.0 (+1)	672 (-7%)	12mo	$175,000	$260	45

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: 11.4%
• Equity multiple: 1.45×
• Total profit: $15,307
• Equity at exit: $18,265

10-year hold

• IRR: 19.4%
• Equity multiple: 2.54×
• Total profit: $52,728
• Equity at exit: $10,592

Cash invested: $34,300 (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: 284
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,850 medium
• Mortgage (P&I): −$642
• Tax from tax record: −$182 /mo · $2,186/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $586

Break-even live

Break-even rent $1,108

Max offer price $122,500

Occupancy floor 63%

Sensitivity live

Price	-10% $655	-5% $621	+0% $586	+5% $551	+10% $517
Rent	-10% $440	-5% $513	+0% $586	+5% $659	+10% $732
Rate	-1.0pp $648	-0.5pp $617	base $586	+0.5pp $554	+1.0pp $522

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: $30,625
• Closing costs: $3,675
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	22d	1	0.17mi
8160 SE Eagle Ave Hobe Sound, FL	2.0	1.0	672	$1,600	$2.38	24d	1	0.23mi
7959 SE Woodview Ter Hobe Sound, FL	1.0	1.0	700	$1,675	$2.39	24d	4	0.90mi
7920 SE Woodview Ter Unit 792007 Hobe Sound, FL	1.0	1.0	700	$1,675	$2.39	24d	1	0.92mi

Listing history 24 events

1. 2026-06-21
   days on market $122,500 Active 40 DOM
2. 2026-06-18
   days on market $122,500 Active 37 DOM
3. 2026-06-17
   days on market $122,500 Active 36 DOM
4. 2026-06-16
   days on market $122,500 Active 35 DOM
5. 2026-06-15
   days on market $122,500 Active 34 DOM
6. 2026-06-14
   days on market $122,500 Active 32 DOM
7. 2026-06-13
   days on market $122,500 Active 31 DOM
8. 2026-06-10
   days on market $122,500 Active 29 DOM
9. 2026-06-09
   days on market $122,500 Active 28 DOM
10. 2026-06-08
    days on market $122,500 Active 27 DOM
11. 2026-06-07
    days on market $122,500 Active 26 DOM
12. 2026-06-03
    days on market $122,500 Active 22 DOM
13. 2026-06-02
    days on market $122,500 Active 21 DOM
14. 2026-06-01
    days on market $122,500 Active 20 DOM
15. 2026-05-31
    days on market $122,500 Active 19 DOM
16. 2026-05-31
    days on market $122,500 Active 18 DOM
17. 2026-05-12
    listed $122,500 Active 280-char remark
18. 2016-07-19
    soldstatus $45,000
19. 2016-01-11
    price $41,250 591-char remark

    Show marketing remark (591 chars)

    LOVELY 2 BEDRM/2 BATH HOME IN RIDGEWAY (55+ COMMUNITY). LOOK AT THE PHOTOS AND SEE THE RENOVATIONS ALREADY DONE TO THE KITCHEN & LIVING ROOM. FLA ROOM NEEDS FINISHING TO THE CEILING (PRICED ACCORDINGLY). SPLIT BEDRM PLAN - GORGEOUS NEW KITCHEN OPEN TO THE LIVING ROOM & FL ROOM. FACING EAST TO CATCH THOSE OCEAN BREEZES - ROOF OVER (DOUBLE ROOF) & GREAT SCREEN ROOM. 7/10s OF A MILE FROM THE ICW BOAT RAMP. MINUTES FROM THE PRISTINE HOBE SOUND BEACHES, SHOPPING & RESTAURANTS. OWN THE LAND - LOW HOA FEES OF $125.00/YEAR. ALL PETS WELCOME. FLORIDA LIVING AT ITS BEST.

20. 2010-08-20
    price $46,511 591-char remark

    Show marketing remark (591 chars)

    LOVELY 2 BEDRM/2 BATH HOME IN RIDGEWAY (55+ COMMUNITY). LOOK AT THE PHOTOS AND SEE THE RENOVATIONS ALREADY DONE TO THE KITCHEN & LIVING ROOM. FLA ROOM NEEDS FINISHING TO THE CEILING (PRICED ACCORDINGLY). SPLIT BEDRM PLAN - GORGEOUS NEW KITCHEN OPEN TO THE LIVING ROOM & FL ROOM. FACING EAST TO CATCH THOSE OCEAN BREEZES - ROOF OVER (DOUBLE ROOF) & GREAT SCREEN ROOM. 7/10s OF A MILE FROM THE ICW BOAT RAMP. MINUTES FROM THE PRISTINE HOBE SOUND BEACHES, SHOPPING & RESTAURANTS. OWN THE LAND - LOW HOA FEES OF $125.00/YEAR. ALL PETS WELCOME. FLORIDA LIVING AT ITS BEST.

21. 2010-08-20
    soldstatus $41,250 591-char remark

    Show marketing remark (591 chars)

    LOVELY 2 BEDRM/2 BATH HOME IN RIDGEWAY (55+ COMMUNITY). LOOK AT THE PHOTOS AND SEE THE RENOVATIONS ALREADY DONE TO THE KITCHEN & LIVING ROOM. FLA ROOM NEEDS FINISHING TO THE CEILING (PRICED ACCORDINGLY). SPLIT BEDRM PLAN - GORGEOUS NEW KITCHEN OPEN TO THE LIVING ROOM & FL ROOM. FACING EAST TO CATCH THOSE OCEAN BREEZES - ROOF OVER (DOUBLE ROOF) & GREAT SCREEN ROOM. 7/10s OF A MILE FROM THE ICW BOAT RAMP. MINUTES FROM THE PRISTINE HOBE SOUND BEACHES, SHOPPING & RESTAURANTS. OWN THE LAND - LOW HOA FEES OF $125.00/YEAR. ALL PETS WELCOME. FLORIDA LIVING AT ITS BEST.

22. 2010-04-27
    listed $46,511 591-char remark

    Show marketing remark (591 chars)

    LOVELY 2 BEDRM/2 BATH HOME IN RIDGEWAY (55+ COMMUNITY). LOOK AT THE PHOTOS AND SEE THE RENOVATIONS ALREADY DONE TO THE KITCHEN & LIVING ROOM. FLA ROOM NEEDS FINISHING TO THE CEILING (PRICED ACCORDINGLY). SPLIT BEDRM PLAN - GORGEOUS NEW KITCHEN OPEN TO THE LIVING ROOM & FL ROOM. FACING EAST TO CATCH THOSE OCEAN BREEZES - ROOF OVER (DOUBLE ROOF) & GREAT SCREEN ROOM. 7/10s OF A MILE FROM THE ICW BOAT RAMP. MINUTES FROM THE PRISTINE HOBE SOUND BEACHES, SHOPPING & RESTAURANTS. OWN THE LAND - LOW HOA FEES OF $125.00/YEAR. ALL PETS WELCOME. FLORIDA LIVING AT ITS BEST.

23. 2000-02-01
    historical
24. 1999-08-01
    listed $34,500

ⓘ 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: $2,186 · $182/mo
• Projected year-2 tax: $2,186 · $182/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 · 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,201
• − Mortgage interest: −$6,862
• − Property taxes: −$2,186
• − Insurance: −$612
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$3,564
• Taxable income: $5,425
• Est. tax owed @ 24.0%: −$1,302
• After-tax cash flow: $5,729/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

+255.1% since first listed

8 events — show timeline

• 2026-05-12 Listed $122,500 FSBO.com
• 2016-07-19 Sold (Public Records) $45,000 Public Records
• 2016-01-11 Price Changed $41,250 MCRTC
• 2010-08-20 Sold (MLS) $41,250 MCRTC
• 2010-08-20 Price Changed $46,511 MCRTC
• 2010-04-27 Listed $46,511 MCRTC
• 2000-02-01 Listing Removed — MCRTC
• 1999-08-01 Listed $34,500 MCRTC

Property tax history

+8.9%/yr

Latest (2025): $2,186 · +4.9% YoY. Source: county tax records.