2929 SE Ocean Blvd Unit 131-10 · Stuart, FL 34996

$159,000

2 bd · 2.0 ba · 992 sqft · Condo · 462 Days on market

Built 1972 Good condition $160/sqft · 18% above area Est $134k · 18% over $562/mo HOA · 22% 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 +26.1/30.0
• 1% rule +10.0/10.0
• Appreciation +10.0/10.0
• DSCR +8.8/10.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

THIS IS A STEAL!!! Just finished remodeling March of 2025 with cabinets, stainless appliances, water heater, vanities, quartz on all countertops, sinks and faucets, flooring, paint, lighting, shower in main bathroom, and shower glass in guest bathroom, new air conditioning, tile on porch with screening, mirrors in baths and toilets. wonderful corner unit with two entry doors. Assigned parking In desired Village 8 with heated community pool, clubhouse, internet, cable, lawn maintinance and exterior building maintinance, shuffleboard and other amenities. CLOSE to everything you need, shopping, restuarants, beach, and downtown. 2nd floor corner unit. Owner/agent

Key facts

• $562 HOA
• Parking
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $159k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $334 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $159k).
• Recommended offer: $140k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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; 9 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 $17k 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 $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 462 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $26k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $92k; list at $159k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 22% of rent.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 462 days. Have you received any prior offers? Is the seller open to a 12% 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'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: 1.64% ✓
• Cap rate: 9.31%
• Cash-on-cash: 10.78%
• DSCR: 1.48
• GRM: 5.1

CMA / ARV

• ARV (median comp): $134,271
• List price: $159,000
• Delta: 18.42%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 30.9%
• Equity multiple: 3.43×
• Total profit: $108,269
• Equity at exit: $143,240

10-year hold

• IRR: 26.8%
• Equity multiple: 7.81×
• Total profit: $302,971
• Equity at exit: $308,902

Cash invested: $44,520 (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: $2,609 high
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$562
• Vacancy / Maint / Mgmt: −$548
• Net cashflow: $334

Break-even live

Break-even rent $2,186

Max offer price $159,000

Occupancy floor 82%

Sensitivity live

Price	-10% $443	-5% $389	+0% $334	+5% $279	+10% $224
Rent	-10% $128	-5% $231	+0% $334	+5% $437	+10% $540
Rate	-1.0pp $414	-0.5pp $374	base $334	+0.5pp $292	+1.0pp $250

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	24d	6	0.03mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$2,400	$2.96	14d	8	0.03mi
2929 SE Ocean Blvd Unit 130 Stuart, FL	2.0	2.0	1005	$1,800	$1.79	24d	1	0.20mi
2950 SE Ocean Blvd Stuart, FL	2.0	2.0	1157	$1,800	$1.56	14d	3	0.22mi
2600 SE Ocean Blvd Stuart, FL	1.0–2.0	1.5–2.0	951	$1,900	$2.00	14d	3	0.28mi
300 SE Saint Lucie Blvd Stuart, FL	1.0–3.0	1.0–2.0	884	$2,258	$2.55	14d	12	0.42mi
262 SE Monterey Ave Stuart, FL	3.0	1.0	1001	$3,500	$3.50	24d	1	0.49mi
333 SE Martin Ave Unit 1F Stuart, FL	2.0	1.0	778	$1,800	$2.31	24d	1	0.73mi
1800 SE Saint Lucie Blvd Stuart, FL	2.0	2.0	1044	$2,600	$2.49	24d	3	1.05mi

HOA detail condo

• Monthly dues: $562 · $6,744/yr
• Likely covers: waterinternetcablepoolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $159,000 Active 462 DOM
2. 2026-06-17
   days on market $159,000 Active 461 DOM
3. 2026-06-16
   days on market $159,000 Active 460 DOM
4. 2026-06-15
   days on market $159,000 Active 459 DOM
5. 2026-06-14
   days on market $159,000 Active 457 DOM
6. 2026-06-13
   days on market $159,000 Active 456 DOM
7. 2026-06-10
   days on market $159,000 Active 454 DOM
8. 2026-06-09
   days on market $159,000 Active 453 DOM
9. 2026-06-08
   days on market $159,000 Active 452 DOM
10. 2026-06-07
    days on market $159,000 Active 451 DOM
11. 2026-06-03
    days on market $159,000 Active 447 DOM
12. 2026-06-02
    days on market $159,000 Active 446 DOM
13. 2026-06-01
    days on market $159,000 Active 445 DOM
14. 2026-05-31
    days on market $159,000 Active 444 DOM
15. 2026-05-31
    days on market $159,000 Active 443 DOM
16. 2025-11-11
    price $159,000 672-char remark

    Show marketing remark (672 chars)

    THIS IS A STEAL!!! Just finished remodeling March of 2025 with cabinets, stainless appliances, water heater, vanities, quartz on all countertops, sinks and faucets, flooring, paint, lighting, shower in main bathroom, and shower glass in guest bathroom, new air conditioning, tile on porch with screening, mirrors in baths and toilets. wonderful corner unit with two entry doors. Assigned parking In desired Village 8 with heated community pool, clubhouse, internet, cable, lawn maintinance and exterior building maintinance, shuffleboard and other amenities. CLOSE to everything you need, shopping, restuarants, beach, and downtown. 2nd floor corner unit. Owner/agent

17. 2025-05-24
    price $169,000 672-char remark

    Show marketing remark (672 chars)

    THIS IS A STEAL!!! Just finished remodeling March of 2025 with cabinets, stainless appliances, water heater, vanities, quartz on all countertops, sinks and faucets, flooring, paint, lighting, shower in main bathroom, and shower glass in guest bathroom, new air conditioning, tile on porch with screening, mirrors in baths and toilets. wonderful corner unit with two entry doors. Assigned parking In desired Village 8 with heated community pool, clubhouse, internet, cable, lawn maintinance and exterior building maintinance, shuffleboard and other amenities. CLOSE to everything you need, shopping, restuarants, beach, and downtown. 2nd floor corner unit. Owner/agent

18. 2025-04-22
    price $179,000 672-char remark

    Show marketing remark (672 chars)

    THIS IS A STEAL!!! Just finished remodeling March of 2025 with cabinets, stainless appliances, water heater, vanities, quartz on all countertops, sinks and faucets, flooring, paint, lighting, shower in main bathroom, and shower glass in guest bathroom, new air conditioning, tile on porch with screening, mirrors in baths and toilets. wonderful corner unit with two entry doors. Assigned parking In desired Village 8 with heated community pool, clubhouse, internet, cable, lawn maintinance and exterior building maintinance, shuffleboard and other amenities. CLOSE to everything you need, shopping, restuarants, beach, and downtown. 2nd floor corner unit. Owner/agent

19. 2025-03-13
    listed $185,000 Active 672-char remark

    Show marketing remark (672 chars)

    THIS IS A STEAL!!! Just finished remodeling March of 2025 with cabinets, stainless appliances, water heater, vanities, quartz on all countertops, sinks and faucets, flooring, paint, lighting, shower in main bathroom, and shower glass in guest bathroom, new air conditioning, tile on porch with screening, mirrors in baths and toilets. wonderful corner unit with two entry doors. Assigned parking In desired Village 8 with heated community pool, clubhouse, internet, cable, lawn maintinance and exterior building maintinance, shuffleboard and other amenities. CLOSE to everything you need, shopping, restuarants, beach, and downtown. 2nd floor corner unit. Owner/agent

20. 2005-02-15
    price $97,000 146-char remark

    Show marketing remark (146 chars)

    End unit 2/2 on 2nd floor overlooking pretty gardens. Large glassed -in porch. Being sold furnished. Owner put two new exterior doors on in Jan. .

21. 2005-02-15
    soldstatus $92,000 146-char remark

    Show marketing remark (146 chars)

    End unit 2/2 on 2nd floor overlooking pretty gardens. Large glassed -in porch. Being sold furnished. Owner put two new exterior doors on in Jan. .

22. 2005-01-20
    listed $92,000 146-char remark

    Show marketing remark (146 chars)

    End unit 2/2 on 2nd floor overlooking pretty gardens. Large glassed -in porch. Being sold furnished. Owner put two new exterior doors on in Jan. .

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 26 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: $31,305
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$1,592
• − Repairs & maintenance: −$2,504
• − Management: −$2,504
• − HOA: −$6,744
• − Depreciation: −$4,625
• Taxable income: $2,042
• Est. tax owed @ 24.0%: −$490
• After-tax cash flow: $3,513/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 75/100 None rehab

This corner unit is in excellent condition with recent renovations, including new cabinets, appliances, and flooring. It's move-in ready and located in a desirable community with amenities.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both new lighting — improves aesthetics and safety
• Both new flooring in living areas — enhances aesthetics and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both new lighting — improves aesthetics and safety ↑
• Both new flooring in living areas — enhances aesthetics and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 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

+72.8% since first listed

7 events — show timeline

• 2025-11-11 Price Changed $159,000 MCRTC
• 2025-05-24 Price Changed $169,000 MCRTC
• 2025-04-22 Price Changed $179,000 MCRTC
• 2025-03-13 Listed $185,000 MCRTC
• 2005-02-15 Sold (MLS) $92,000 MCRTC
• 2005-02-15 Price Changed $97,000 MCRTC
• 2005-01-20 Listed $92,000 MCRTC