2540 SE Penny Ln · Stuart, FL 34994

$129,900

2 bd · 2.0 ba · 1,056 sqft · Condo public records · 234 Days on market

Built 1980 $275/mo HOA ↓ 19% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great CO-OP community. Well maintained Large double wide. Huge master bedroom runs the whole back of the home. Formal dining room with built in hutch. Private back yard. large separate utility building with laundry. Heated pool at the active clubhouse. Great group of people

Key facts

• Back yard
• Double wide
• Dining room

Tags

• DOUBLE WIDE
• MASTER BEDROOM
• DINING ROOM
• BACK YARD
• UTILITY BUILDING
• HEATED POOL

🏢 Co-op / cooperative unit. The $129,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $676 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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: Rents soft (-0.7%/yr); 256 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 42% of the median local income ($63k/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 $898 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 + 0.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 234 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate 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 $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 234 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.70% ✓
• Cap rate: 12.54%
• Cash-on-cash: 22.30%
• DSCR: 1.99
• GRM: 4.9

CMA / ARV

• ARV (median comp): $61,000
• List price: $129,900
• Delta: 112.95%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 11.3%
• Equity multiple: 1.43×
• Total profit: $15,674
• Equity at exit: $19,369

10-year hold

• IRR: 17.5%
• Equity multiple: 2.23×
• Total profit: $44,644
• Equity at exit: $11,231

Cash invested: $36,372 (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 34994

• Home prices YoY: -27.1%
• Rents YoY: -0.7%
• Active inventory: 256
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,208 high
• Mortgage (P&I): −$681
• Tax from tax record: −$58 /mo · $696/yr
• Insurance: −$54
• HOA: −$275
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $676

Break-even live

Break-even rent $1,352

Max offer price $129,900

Occupancy floor 64%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2600 S Kanner Hwy Stuart, FL	1.0–2.0	1.5–2.0	890	$1,950	$2.19	14d	3	0.17mi
44 SE Sedona Cir #201 Stuart, FL	3.0	2.0	1443	$2,200	$1.52	23d	1	0.26mi
47 SE Sedona Cir #203 Stuart, FL	3.0	2.5	1450	$2,200	$1.52	23d	1	0.26mi
345 SE Angler Dr Stuart, FL	3.0	2.5	1475	$2,650	$1.80	21d	1	0.49mi
1900 S Kanner Hwy Unit 2-203 Stuart, FL	2.0	2.0	1086	$1,800	$1.66	14d	1	0.55mi
1950 SW Palm City Rd Stuart, FL	2.0	2.0	1031	$3,150	$3.05	23d	3	0.56mi
1950 SW Palm City Rd Unit 4-4205 Stuart, FL	2.0	2.0	938	$2,400	$2.56	14d	1	0.57mi
85 SE Hancock St Stuart, FL	1.0–2.0	1.0–2.0	1278	$2,300	$1.80	14d	2	0.57mi
400 SE Central Pkwy Stuart, FL	1.0–2.0	1.0–2.0	918	$2,640	$2.87	14d	16	0.60mi
1871 SW Palm City Rd Unit G401 Stuart, FL	3.0	2.0	1289	$2,200	$1.71	23d	1	0.66mi
801 SE Central Pkwy #7 Stuart, FL	2.0	2.0	1046	$2,150	$2.06	14d	1	0.69mi
1868 SW Palm City Rd Apt 202 Stuart, FL	2.0	2.0	1191	$2,900	$2.43	23d	1	0.69mi
2819 SW Cornell Ave Palm City, FL	2.0	1.5	1060	$2,150	$2.03	21d	1	0.85mi
2124 SE Edler Dr Stuart, FL	2.0	2.0	876	$1,800	$2.05	23d	1	0.88mi
2118 SE Edler Dr Unit B Stuart, FL	2.0	2.0	876	$1,995	$2.28	23d	1	0.89mi
2104 SE Edler Dr Stuart, FL	1.0	1.0	726	$1,500	$2.07	23d	1	0.89mi
3001 SE Aster Ln #908 Stuart, FL	2.0	2.0	1209	$2,100	$1.74	23d	1	0.96mi
1215 SE Glenwood Dr Stuart, FL	2.0	2.0	1089	$1,859	$1.71	14d	10	0.96mi
3031 SE Aster Ln Unit 608 Stuart, FL	2.0	2.0	1019	$1,870	$1.84	23d	1	1.00mi
3151 SE Aster Ln #1306 Stuart, FL	2.0	2.0	1034	$1,800	$1.74	23d	1	1.01mi
544 SW 35th St Palm City, FL	2.0	1.0	850	$1,850	$2.18	23d	1	1.03mi
3800 S Kanner Hwy Stuart, FL	3.0	1.0–2.0	970	$2,604	$2.68	14d	21	1.07mi
664 SW 35th St Unit 6 Palm City, FL	2.0	1.5	900	$1,850	$2.06	14d	1	1.08mi
664 SW 35th St Apt 3 Palm City, FL	2.0	1.5	900	$1,775	$1.97	14d	1	1.08mi
1290 SE Parkview Pl Unit A2 Stuart, FL	2.0	2.0	1021	$1,800	$1.76	21d	1	1.10mi
950 S Kanner Hwy Stuart, FL	2.0	2.0	1019	$1,888	$1.85	21d	3	1.11mi
950 S Kanner Hwy Stuart, FL	1.0–2.0	1.0–2.5	1062	$2,000	$1.88	23d	5	1.11mi
950 S Kanner Hwy Stuart, FL	1.0–2.0	1.0–2.0	850	$2,000	$2.35	14d	4	1.11mi
2759 SE Birmingham Dr Stuart, FL	2.0	2.5	1191	$2,600	$2.18	23d	1	1.13mi
3302 SE Aster Ln Stuart, FL	2.0	2.0	888	$1,900	$2.14	23d	1	1.15mi
3236 SE Aster Ln Unit M225 Stuart, FL	2.0	2.0	1200	$2,500	$2.08	23d	1	1.15mi
3266 SE Aster Ln Unit H246 Stuart, FL	2.0	2.0	1200	$2,100	$1.75	23d	1	1.15mi
3405 SW Feroe Ave Palm City, FL	2.0	2.0	1275	$2,800	$2.20	23d	1	1.24mi
917 SE Nassau Ave Stuart, FL	2.0	1.0	832	$3,800	$4.57	23d	1	1.31mi
917 SE Nassau Ave Stuart, FL	2.0	1.0	832	$1,900	$2.28	21d	1	1.31mi
3375 SW Mapp Rd Unit 204 Palm City, FL	3.0	2.0	1067	$2,300	$2.16	23d	1	1.31mi
801 SE Central Ave Stuart, FL	3.0	1.0	899	$2,300	$2.56	14d	1	1.33mi
1571 SE Hampshire Way #104 Stuart, FL	3.0	2.0	1210	$2,500	$2.07	23d	1	1.33mi
701 SW Bryant Ave Stuart, FL	2.0	1.0	1295	$3,300	$2.55	14d	1	1.36mi
1485 SW Silver Pine Way Unit 107 B-2 Palm City, FL	1.0	1.0	830	$1,650	$1.99	23d	1	1.39mi

HOA detail condo

• Monthly dues: $275 · $3,300/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $129,900 Active 234 DOM
2. 2026-06-17
   days on market $129,900 Active 233 DOM
3. 2026-06-16
   days on market $129,900 Active 232 DOM
4. 2026-06-15
   days on market $129,900 Active 231 DOM
5. 2026-06-14
   days on market $129,900 Active 229 DOM
6. 2026-06-13
   days on market $129,900 Active 228 DOM
7. 2026-06-10
   days on market $129,900 Active 226 DOM
8. 2026-06-09
   days on market $129,900 Active 225 DOM
9. 2026-06-08
   days on market $129,900 Active 224 DOM
10. 2026-06-07
    days on market $129,900 Active 223 DOM
11. 2026-06-03
    days on market $129,900 Active 219 DOM
12. 2026-06-02
    days on market $129,900 Active 218 DOM
13. 2026-06-01
    days on market $129,900 Active 217 DOM
14. 2026-05-31
    days on market $129,900 Active 216 DOM
15. 2026-05-31
    days on market $129,900 Active 215 DOM
16. 2026-01-28
    price $129,900 275-char remark

    Show marketing remark (275 chars)

    Great CO-OP community. Well maintained Large double wide. Huge master bedroom runs the whole back of the home. Formal dining room with built in hutch. Private back yard. large separate utility building with laundry. Heated pool at the active clubhouse. Great group of people

17. 2025-10-27
    listed $139,999 Active 275-char remark

    Show marketing remark (275 chars)

    Great CO-OP community. Well maintained Large double wide. Huge master bedroom runs the whole back of the home. Formal dining room with built in hutch. Private back yard. large separate utility building with laundry. Heated pool at the active clubhouse. Great group of people

18. 2025-10-01
    historical
19. 2025-06-13
    price $140,000
20. 2025-02-06
    price $149,000
21. 2025-02-06
    price $149,900
22. 2025-01-27
    listed $160,000 Active

ⓘ 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: $696 · $58/mo
• Projected year-2 tax: $1,078 · $90/mo
• Expected delta: +$382/yr (+$32/mo · 54.9%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 42% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $26,496
• − Mortgage interest: −$7,276
• − Property taxes: −$696
• − Insurance: −$650
• − Repairs & maintenance: −$2,120
• − Management: −$2,120
• − HOA: −$3,300
• − Depreciation: −$3,779
• Taxable income: $6,556
• Est. tax owed @ 24.0%: −$1,573
• After-tax cash flow: $6,539/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

• County: Martin County · 165,223 people
• City population: 65,812
• Metro: Port St. Lucie, FL
• Population (ZIP): 18,737
• Household income: $62,533
• Rent vs Own: 42.1% rent · 57.9% own
• Severe rent burden: 1408.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 21% Two or more races 12% Black 11%
• Hispanic origin (detail): Mexican 6% Puerto Rican 5% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 12% · Canada
• Languages at home: 80% English-only · Spanish 16% Russian/Polish/Slavic 2% 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: ▼ -130.08%
• Current HPI: 349.7061
• Rent YoY: ▼ -0.69%
• 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

-18.8% since first listed

7 events — show timeline

• 2026-01-28 Price Changed $129,900 MCRTC
• 2025-10-27 Listed $139,999 MCRTC
• 2025-10-01 Listing Removed — MCRTC
• 2025-06-13 Price Changed $140,000 MCRTC
• 2025-02-06 Price Changed $149,000 MCRTC
• 2025-02-06 Price Changed $149,900 MCRTC
• 2025-01-27 Listed $160,000 MCRTC

Property tax history

+3.9%/yr

Latest (2025): $696 · +0.8% YoY. Source: county tax records.