2950 SE Ocean Blvd Unit 59-5 · Stuart, FL 34996

$139,000

2 bd · 2.0 ba · 1,078 sqft · Condo public records · 78 Days on market

Built 1973 $637/mo HOA · 24% of rent

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Why this score? — see what drove the A- 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 +29.5/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Upgraded 2nd floor 2 bedroom/2 Bath condo with large screened in lanai. Ready to move in. Wood laminate floors throughout. Newer appliances. Upgraded primary walk in shower. Lots of closets. Ceiling fans throughout. Heated community pool, game room and shuffleboard. 10 minutes to downtown historic Stuart, Florida. Close to restaurants, shopping and the beaches of Hutchinson Island. . Community Laundry Room.

Key facts

• Close to restaurants
• Game room
• Shuffleboard

Tags

• SCREENED IN LANAI
• HEATED COMMUNITY POOL
• GAME ROOM
• SHUFFLEBOARD
• COMMUNITY LAUNDRY ROOM
• CLOSE TO RESTAURANTS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $139k.

Deal economics

• At list price, monthly cash flow is $430 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $139k).
• Recommended offer: $131k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 4.1% 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.
• Market conditions: 251 active listings in the ZIP; 14 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 $15k of equity ($961 loan paydown + $14k 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 $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask is 9829% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $95k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 24% 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 $130,659 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.92% ✓
• Cap rate: 10.58%
• Cash-on-cash: 15.32%
• DSCR: 1.68
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 34.2%
• Equity multiple: 3.66×
• Total profit: $103,598
• Equity at exit: $125,222

10-year hold

• IRR: 29.5%
• Equity multiple: 8.31×
• Total profit: $284,481
• Equity at exit: $270,046

Cash invested: $38,920 (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: 4.3×

Monthly cashflow live

• Estimated rent: $2,671 high
• Mortgage (P&I): −$729
• Tax from tax record: −$190 /mo · $2,277/yr
• Insurance: −$58
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$637
• Vacancy / Maint / Mgmt: −$561
• Net cashflow: $430

Break-even live

Break-even rent $2,127

Max offer price $139,000

Occupancy floor 79%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2950 SE Ocean Blvd Stuart, FL	2.0	2.0	1157	$1,800	$1.56	14d	3	0.12mi
1196 SE Saint Lucie Blvd Stuart, FL	2.0	2.0	1309	$4,300	$3.28	23d	1	0.25mi
2600 SE Ocean Blvd Stuart, FL	1.0–2.0	1.5–2.0	951	$1,900	$2.00	14d	3	0.32mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	14d	8	0.36mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	23d	6	0.36mi
2929 SE Ocean Blvd Unit 130 Stuart, FL	2.0	2.0	1005	$1,800	$1.79	23d	1	0.53mi
300 SE Saint Lucie Blvd Stuart, FL	1.0–3.0	1.0–2.0	884	$2,258	$2.55	14d	12	0.72mi
1800 SE Saint Lucie Blvd Stuart, FL	2.0	2.0	1044	$2,600	$2.49	23d	3	0.74mi
262 SE Monterey Ave Stuart, FL	3.0	1.0	1001	$3,500	$3.50	23d	1	0.81mi
175 SE Saint Lucie Blvd Stuart, FL	2.0	2.0–2.5	1300	$2,600	$2.00	23d	4	0.92mi
333 SE Martin Ave Unit 1F Stuart, FL	2.0	1.0	778	$1,800	$2.31	23d	1	0.98mi
150 SE Four Winds Dr Unit B303 Stuart, FL	2.0	2.0	1359	$2,500	$1.84	23d	1	0.98mi
3129 SE Indian St #3 Stuart, FL	2.0	1.5	986	$2,300	$2.33	23d	1	1.41mi
217 SE Coconut Ave Stuart, FL	2.0	1.0	1197	$5,000	$4.18	23d	1	1.50mi

HOA detail condo

• Monthly dues: $637 · $7,644/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-05-03
   historical $1,400
2. 2026-03-19
   listed $1,400
3. 2026-03-01
   listed $139,000 Active 410-char remark

   Show marketing remark (410 chars)

   Upgraded 2nd floor 2 bedroom/2 Bath condo with large screened in lanai. Ready to move in. Wood laminate floors throughout. Newer appliances. Upgraded primary walk in shower. Lots of closets. Ceiling fans throughout. Heated community pool, game room and shuffleboard. 10 minutes to downtown historic Stuart, Florida. Close to restaurants, shopping and the beaches of Hutchinson Island. . Community Laundry Room.

4. 2025-02-09
   historical $1,300
5. 2025-02-09
   status Active
6. 2025-02-09
   status Pending
7. 2025-01-26
   listed $1,300
8. 2025-01-25
   price $149,000
9. 2024-11-26
   historical $1,500
10. 2024-11-20
    price $159,000
11. 2024-10-29
    price $1,500
12. 2024-10-28
    price $169,000
13. 2024-09-22
    listed $175,000 Active
14. 2024-09-15
    price $1,600
15. 2024-08-21
    price $1,650
16. 2024-07-27
    listed $1,750
17. 2020-01-28
    soldstatus $95,000
18. 1996-06-21
    soldstatus $39,000

ⓘ 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: $2,277 · $190/mo
• Projected year-2 tax: $2,277 · $190/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 7/10 Severe FEMA zone X (unshaded) · 74% 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: $32,058
• − Mortgage interest: −$7,786
• − Property taxes: −$2,277
• − Insurance: −$1,492
• − Repairs & maintenance: −$2,565
• − Management: −$2,565
• − HOA: −$7,644
• − Depreciation: −$4,044
• Taxable income: $3,685
• Est. tax owed @ 24.0%: −$884
• After-tax cash flow: $4,280/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 — 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

• Census place: Stuart, FL
• County: Martin County · 165,223 people
• City population: 65,812
• 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

-96.4% since first listed

18 events — show timeline

• 2026-05-03 Rental Removed $1,400 MCRTC
• 2026-03-19 Listed for Rent $1,400 MCRTC
• 2026-03-01 Listed $139,000 MCRTC
• 2025-02-09 Rental Removed $1,300 MCRTC
• 2025-02-09 Relisted — MCRTC
• 2025-02-09 Pending — MCRTC
• 2025-01-26 Listed for Rent $1,300 MCRTC
• 2025-01-25 Price Changed $149,000 MCRTC
• 2024-11-26 Rental Removed $1,500 MCRTC
• 2024-11-20 Price Changed $159,000 MCRTC
• 2024-10-29 Price Changed $1,500 MCRTC
• 2024-10-28 Price Changed $169,000 MCRTC
• 2024-09-22 Listed $175,000 MCRTC
• 2024-09-15 Price Changed $1,600 MCRTC
• 2024-08-21 Price Changed $1,650 MCRTC
• 2024-07-27 Listed for Rent $1,750 MCRTC
• 2020-01-28 Sold (Public Records) $95,000 Public Records
• 1996-06-21 Sold (Public Records) $39,000 Public Records

Property tax history

+20.7%/yr

Latest (2025): $2,277 · +0.0% YoY. Source: county tax records.