1225 NW 21st St #1014 · North River Shores, FL 34994

$114,900

2 bd · 2.0 ba · 962 sqft · Condo public records · 137 Days on market

Built 1978 $119/sqft · 22% below area Est $147k · 22% under $474/mo HOA · 25% 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 +26.2/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +8.9/10.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOCATION, LOCATION, LOCATION! Reside in the best kept secret in the town of Stuart Florida, voted BEST small coastal town in America! Quiet unit in the 55+ community of Vista Del Lago. Convenient to everything the Treasure Coast offers. .. beautiful beaches, parks, shopping and restaurants. Freshly painted and ready to move in. .. schedule your showing today!

Key facts

• $474 HOA
• Parking
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 5.7% in North River Shores — 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 74/100 on livability (#292 in FL, #4,906 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; Watch: schools D+, 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 soft (-0.7%/yr); 256 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 37% 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 $794 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y ago; this cycle's ask is 7560% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• 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 $101,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 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 1978 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. 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: 1.67% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.97%
• DSCR: 1.49
• GRM: 5.0

CMA / ARV

• ARV (median comp): $146,569
• List price: $114,900
• Delta: -21.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -4.5%
• Equity multiple: 0.84×
• Total profit: $-5,227
• Equity at exit: $17,132

10-year hold

• IRR: -0.6%
• Equity multiple: 0.97×
• Total profit: $-1,005
• Equity at exit: $9,934

Cash invested: $32,172 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,921 high
• Mortgage (P&I): −$603
• Tax from tax record: −$99 /mo · $1,193/yr
• Insurance: −$48
• HOA: −$474
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $294

Break-even live

Break-even rent $1,549

Max offer price $114,900

Occupancy floor 80%

Sensitivity live

Price	-10% $359	-5% $327	+0% $294	+5% $262	+10% $229
Rent	-10% $142	-5% $218	+0% $294	+5% $370	+10% $446
Rate	-1.0pp $352	-0.5pp $323	base $294	+0.5pp $264	+1.0pp $234

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1225 NW 21st St Unit 8-815 Stuart, FL	2.0	2.0	1014	$1,950	$1.92	24d	1	0.03mi
1225 NW 21st St Unit 7-705 Stuart, FL	1.0	1.5	747	$1,550	$2.07	14d	1	0.03mi
1225 NW 21st St Stuart, FL	1.0	1.5	773	$1,500	$1.94	22d	3	0.03mi
1225 NW 21st St Stuart, FL	1.0	1.5	773	$1,350	$1.75	14d	1	0.03mi
1225 NW 21st St Unit 36-3609 Stuart, FL	2.0	2.0	1014	$1,700	$1.68	22d	1	0.03mi
1225 NW 21st St Unit 35-3512 Stuart, FL	1.0	1.5	747	$1,395	$1.87	24d	1	0.03mi
2201 NW Federal Hwy Stuart, FL	1.0–3.0	1.0–2.0	1080	$2,530	$2.34	14d	18	0.30mi
1900 NW Federal Hwy Stuart, FL	1.0–2.0	1.0–2.0	1013	$3,973	$3.92	14d	21	0.32mi
1010 NW Fresco Way Jensen Beach, FL	1.0–3.0	1.0–2.0	1011	$2,122	$2.10	14d	10	0.61mi
2233 NW 22nd Ave #102 Stuart, FL	2.0	2.0	1030	$2,200	$2.14	22d	1	0.69mi
2283 NW 22nd Ave #104 Stuart, FL	2.0	2.0	1074	$2,100	$1.96	24d	1	0.71mi
974 NW Spruce Ridge Dr Stuart, FL	2.0	2.0	1037	$2,100	$2.03	24d	1	0.89mi
964 NW Spruce Ridge Dr Unit D1 Stuart, FL	2.0	2.0	1056	$2,200	$2.08	24d	1	0.94mi
800 NW Fork Rd Stuart, FL	1.0–2.0	1.0–2.0	886	$1,850	$2.09	14d	2	1.13mi
25 NE 17th St Stuart, FL	3.0	2.0	990	$2,000	$2.02	24d	1	1.19mi
1398 NW Cavendish Ct Stuart, FL	2.0–3.0	2.5	1242	$2,393	$1.93	22d	11	1.20mi
3624 NW Adriatic Ln Unit 308 Jensen Beach, FL	1.0	1.0	781	$1,659	$2.12	24d	1	1.37mi
64 NE Acacia Trl Jensen Beach, FL	2.0	2.0	1000	$3,000	$3.00	24d	1	1.39mi
975 NW Flagler Ave #403 Stuart, FL	2.0	2.0	1082	$3,000	$2.77	24d	1	1.39mi
3617 NW Adriatic Ln Jensen Beach, FL	1.0	1.0	802	$1,595	$1.99	24d	1	1.39mi
875 NW Flagler Ave #302 Stuart, FL	2.0	2.0	1082	$2,900	$2.68	14d	1	1.41mi
3605 NW Adriatic Ln Unit 7-103 Jensen Beach, FL	2.0	2.0	1067	$1,850	$1.73	14d	1	1.44mi
3655 NW Adriatic Ln #307 Jensen Beach, FL	1.0	1.0	781	$1,595	$2.04	14d	1	1.44mi
3614 NW Adriatic Ln Jensen Beach, FL	1.0	1.0	781	$1,550	$1.98	24d	1	1.44mi
3620 NW Adriatic Ln #306 Jensen Beach, FL	1.0	1.0	781	$1,595	$2.04	24d	1	1.44mi
3690 NW Mediterranean Ln Unit 12-305 Jensen Beach, FL	2.0	2.0	1067	$1,850	$1.73	24d	1	1.44mi
3805 NW Mediterranean Ln Jensen Beach, FL	2.0	2.0	1067	$1,975	$1.85	14d	1	1.44mi
3628 NW Adriatic Ln Jensen Beach, FL	2.0	2.0	1067	$1,875	$1.76	14d	1	1.44mi
3769 NW Mediterranean Ln Jensen Beach, FL	1.0	1.0	795	$1,700	$2.14	24d	1	1.49mi

HOA detail condo

• Monthly dues: $474 · $5,688/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $114,900 Active 137 DOM
2. 2026-06-17
   days on market $114,900 Active 136 DOM
3. 2026-06-16
   days on market $114,900 Active 135 DOM
4. 2026-06-15
   days on market $114,900 Active 134 DOM
5. 2026-06-14
   days on market $114,900 Active 132 DOM
6. 2026-06-13
   days on market $114,900 Active 131 DOM
7. 2026-06-10
   days on market $114,900 Active 129 DOM
8. 2026-06-09
   days on market $114,900 Active 128 DOM
9. 2026-06-08
   days on market $114,900 Active 127 DOM
10. 2026-06-07
    days on market $114,900 Active 126 DOM
11. 2026-06-03
    days on market $114,900 Active 122 DOM
12. 2026-06-02
    days on market $114,900 Active 121 DOM
13. 2026-06-01
    days on market $114,900 Active 120 DOM
14. 2026-05-31
    days on market $114,900 Active 119 DOM
15. 2026-05-31
    days on market $114,900 Active 118 DOM
16. 2026-05-15
    price $114,900 361-char remark

    Show marketing remark (361 chars)

    LOCATION, LOCATION, LOCATION! Reside in the best kept secret in the town of Stuart Florida, voted BEST small coastal town in America! Quiet unit in the 55+ community of Vista Del Lago. Convenient to everything the Treasure Coast offers. .. beautiful beaches, parks, shopping and restaurants. Freshly painted and ready to move in. .. schedule your showing today!

17. 2026-03-19
    price $119,900 361-char remark

    Show marketing remark (361 chars)

    LOCATION, LOCATION, LOCATION! Reside in the best kept secret in the town of Stuart Florida, voted BEST small coastal town in America! Quiet unit in the 55+ community of Vista Del Lago. Convenient to everything the Treasure Coast offers. .. beautiful beaches, parks, shopping and restaurants. Freshly painted and ready to move in. .. schedule your showing today!

18. 2026-02-27
    price $128,900 361-char remark

    Show marketing remark (361 chars)

    LOCATION, LOCATION, LOCATION! Reside in the best kept secret in the town of Stuart Florida, voted BEST small coastal town in America! Quiet unit in the 55+ community of Vista Del Lago. Convenient to everything the Treasure Coast offers. .. beautiful beaches, parks, shopping and restaurants. Freshly painted and ready to move in. .. schedule your showing today!

19. 2026-02-02
    listed $1,500
20. 2026-01-31
    listed $135,000 Active 361-char remark

    Show marketing remark (361 chars)

    LOCATION, LOCATION, LOCATION! Reside in the best kept secret in the town of Stuart Florida, voted BEST small coastal town in America! Quiet unit in the 55+ community of Vista Del Lago. Convenient to everything the Treasure Coast offers. .. beautiful beaches, parks, shopping and restaurants. Freshly painted and ready to move in. .. schedule your showing today!

21. 2022-01-10
    soldstatus $130,000
22. 2013-10-22
    soldstatus $38,000 250-char remark

    Show marketing remark (250 chars)

    Great location in serene back area of 55+ community w/active clubhouse, heated pool, billiards & workshop. Furnished end unit w/glass enclosed porch. 5 minutes to Downtown Stuart restaurants. 10 minute drive to ocean beaches. Close to everything.

23. 2013-10-22
    soldstatus $38,000

    Show marketing remark (250 chars)

    Great location in serene back area of 55+ community w/active clubhouse, heated pool, billiards & workshop. Furnished end unit w/glass enclosed porch. 5 minutes to Downtown Stuart restaurants. 10 minute drive to ocean beaches. Close to everything.

24. 2013-06-24
    historical 250-char remark

    Show marketing remark (250 chars)

    Great location in serene back area of 55+ community w/active clubhouse, heated pool, billiards & workshop. Furnished end unit w/glass enclosed porch. 5 minutes to Downtown Stuart restaurants. 10 minute drive to ocean beaches. Close to everything.

25. 2013-06-12
    listed $43,900 250-char remark

    Show marketing remark (250 chars)

    Great location in serene back area of 55+ community w/active clubhouse, heated pool, billiards & workshop. Furnished end unit w/glass enclosed porch. 5 minutes to Downtown Stuart restaurants. 10 minute drive to ocean beaches. Close to everything.

26. 2002-06-11
    soldstatus $65,000
27. 2002-05-29
    soldstatus $65,000
28. 2002-04-11
    listed $69,900
29. 2000-10-20
    historical
30. 2000-04-20
    listed $53,900
31. 2000-01-21
    historical
32. 1999-01-21
    listed $51,500
33. 1989-08-22
    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: $1,193 · $99/mo
• Projected year-2 tax: $1,193 · $99/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 3/10 Moderate FEMA zone X (unshaded) · 12% 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,057
• − Mortgage interest: −$6,436
• − Property taxes: −$1,193
• − Insurance: −$574
• − Repairs & maintenance: −$1,845
• − Management: −$1,845
• − HOA: −$5,688
• − Depreciation: −$3,343
• Taxable income: $2,134
• Est. tax owed @ 24.0%: −$512
• After-tax cash flow: $3,017/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 — North River Shores

• Score: 74/100
• State rank: #292
• US rank: #4906

Category grades

Amenities F Commute F Cost of living B+ Crime A+ Employment B+ Housing A+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North River Shores, FL
• County: Martin County · 165,223 people
• 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

+98.1% since first listed

18 events — show timeline

• 2026-05-15 Price Changed $114,900 MCRTC
• 2026-03-19 Price Changed $119,900 MCRTC
• 2026-02-27 Price Changed $128,900 MCRTC
• 2026-02-02 Listed for Rent $1,500 MCRTC
• 2026-01-31 Listed $135,000 MCRTC
• 2022-01-10 Sold (Public Records) $130,000 Public Records
• 2013-10-22 Sold (Public Records) $38,000 Public Records
• 2013-10-22 Sold (MLS) $38,000 Beaches MLS
• 2013-06-24 Listing Removed — Beaches MLS
• 2013-06-12 Listed $43,900 Beaches MLS
• 2002-06-11 Sold (Public Records) $65,000 Public Records
• 2002-05-29 Sold (MLS) $65,000 MCRTC
• 2002-04-11 Listed $69,900 MCRTC
• 2000-10-20 Listing Removed — MCRTC
• 2000-04-20 Listed $53,900 MCRTC
• 2000-01-21 Listing Removed — MCRTC
• 1999-01-21 Listed $51,500 MCRTC
• 1989-08-22 Sold (Public Records) $58,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,193 · -7.0% YoY. Source: county tax records.