5558 NE Gulfstream Way · Sewall's Point, FL 34996

$450,000

1 bd · 1.0 ba · 1,323 sqft · Condo public records · 34 Days on market

Built 1980 $340/sqft · 8% below area Est $592k · 24% under $800/mo HOA · 34% of rent

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +4.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.5/30.0
• 1% rule +0.2/10.0
• DSCR +0.0/10.0

Listing remarks

Coastal sophistication meets timeless elegance in this beautifully updated two-story townhome nestled on desirable Hutchinson Island. Wake each morning to glorious sunrises-unwind in the evening with splendid sunset displays painting the sky over the golf course and shimmering lakes, from both the expanded living room and spacious primary suite. The main level showcases updated kitchen, powder bath, expansive living and dining areas — the perfect setting for morning coffee or sunset cocktails. Upstairs, two generously sized bedrooms and two full baths create a serene and private sanctuary. Upgrades include impact sliders and doors, along with a recently installed HVAC system for comfo

Key facts

• $800 HOA
• Parking
• Built 1980

Property features AI

Finance

• Financial info: Pets allowed with number limit
• HOA & community: Homeowners association with $800 fee; Association covers management, cable TV, insurance, internet, grounds and structure maintenance, sewer, trash and water; Community amenities include beach access; non-gated community

Exterior

• Parking: Assigned parking (see remarks)
• Utilities: Electricity connected (110V and 220V)
• Home design: Single-story; Resale property
• Construction: Block and concrete construction; Composition shingle roof
• Exterior features: Balcony; Covered and open patio

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Microwave
• Bedrooms: 2 possible bedrooms
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Unfurnished; Ceramic tile flooring; Has view
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $450k.

Deal economics

• At list price, monthly cash flow is $-2k ($-24k/yr) — negative.
• To cash-flow at today's rent, offer at most $106k (76.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (48.3% below list).
• Recommended offer: $106k (76.4% below list) — sets the bar for cash-flow.
• Cap rate 1.1% vs local median 0.7% in Sewall's Point — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).
• This rent runs 33% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• Martin County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $283k; list at $450k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 34% 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 $106,316 (76.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 76% concession, seller financing, or rate buy-down credit?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 0.52% ✗
• Cap rate: 1.09%
• Cash-on-cash: -18.58%
• DSCR: 0.17
• GRM: 16.1

CMA / ARV

• ARV (median comp): $592,247
• List price: $450,000
• Delta: -24.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 11.1%
• Equity multiple: 1.93×
• Total profit: $117,103
• Equity at exit: $405,396

10-year hold

• IRR: 12.1%
• Equity multiple: 4.55×
• Total profit: $446,862
• Equity at exit: $874,251

Cash invested: $126,000 (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: 16.1×

Monthly cashflow live

• Estimated rent: $2,329 medium
• Mortgage (P&I): −$2,360
• Tax from tax record: −$443 /mo · $5,316/yr
• Insurance: −$188
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$800
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $-2,017

Break-even live

Break-even rent $4,882

Max offer price $106,316

Occupancy floor —

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5564 NE Gulfstream Way Stuart, FL	2.0	2.0	1100	$5,000	$4.55	23d	1	0.03mi
391 NE Plantation Rd #226 Stuart, FL	2.0	2.0	1300	$4,500	$3.46	23d	1	0.17mi
391 NE Plantation Rd #228 Stuart, FL	2.0	2.0	1274	$2,200	$1.73	23d	1	0.17mi
391 NE Plantation Rd #215 Stuart, FL	2.0	2.0	1253	$4,000	$3.19	23d	1	0.17mi
484 NE Plantation Rd #4108 Stuart, FL	2.0	2.0	1000	$5,500	$5.50	23d	1	0.18mi
484 NE Plantation Rd #4103 Stuart, FL	2.0	2.0	971	$6,000	$6.18	23d	1	0.18mi
311 NE Golfview Cir Stuart, FL	2.0	2.0	961	$3,500	$3.64	23d	1	0.21mi
669 NE Plantation Rd Stuart, FL	2.0	2.0	1400	$8,250	$5.89	23d	2	0.22mi
411 NE Plantation Rd #526 Stuart, FL	2.0	2.0	1274	$6,000	$4.71	23d	1	0.22mi
411 NE Plantation Rd #511 Stuart, FL	2.0	2.0	1253	$7,500	$5.99	23d	1	0.22mi
221 NE Plantation Rd Stuart, FL	2.0	2.0	1296	$4,350	$3.36	23d	3	0.30mi
185 NE Edgewater Dr #5105 Stuart, FL	2.0	2.0	1366	$6,500	$4.76	23d	1	0.31mi
233 NE Edgewater Dr Stuart, FL	2.0–3.0	2.0–3.0	1534	$2,200	$1.43	23d	3	0.31mi
40 NE Plantation Rd #209 Stuart, FL	2.0	2.0	1039	$6,000	$5.77	23d	1	0.33mi
40 NE Plantation Rd #410 Stuart, FL	2.0	2.0	1039	$5,200	$5.00	23d	1	0.33mi
40 NE Plantation Rd #208 Stuart, FL	2.0	2.0	1039	$5,100	$4.91	23d	1	0.33mi
40 NE Plantation Rd #304 Stuart, FL	2.0	2.0	1039	$2,700	$2.60	23d	1	0.33mi
40 NE Plantation Rd #203 Stuart, FL	2.0	2.0	1039	$5,900	$5.68	13d	1	0.33mi
40 NE Plantation Rd #110 Stuart, FL	2.0	2.0	1039	$6,500	$6.26	23d	1	0.33mi
40 NE Plantation Rd #309 Stuart, FL	2.0	2.0	1039	$1,800	$1.73	23d	1	0.33mi
350 NE Edgewater Dr #202 Stuart, FL	2.0	2.0	970	$2,500	$2.58	23d	1	0.33mi
264 NE Edgewater Dr #102 Stuart, FL	1.0	1.0	911	$2,100	$2.31	23d	1	0.35mi
20 NE Plantation Rd #205 Stuart, FL	2.0	2.0	1306	$2,900	$2.22	23d	1	0.38mi
20 NE Plantation Rd #306 Stuart, FL	2.0	2.0	1306	$3,500	$2.68	23d	1	0.38mi
5799 NE Island Cove Way Unit 1546190P Stuart, FL	2.0	2.0	1270	$2,029	$1.60	13d	1	0.40mi
5750 NE Island Cove Way #3302 Stuart, FL	2.0	2.0	1204	$2,450	$2.03	13d	1	0.40mi
5800 NE Island Cove Way #2207 Stuart, FL	2.0	2.0	1204	$3,500	$2.91	23d	1	0.41mi
245 NE MacArthur Blvd Stuart, FL	2.0	2.5	1310	$7,750	$5.92	23d	2	0.41mi
1289 NE Ocean Blvd Stuart, FL	2.0	2.0	1234	$5,700	$4.62	21d	5	0.67mi
1357 NE Ocean Blvd Stuart, FL	2.0	2.0	1204	$5,250	$4.36	21d	2	0.76mi
1357 NE Ocean Blvd #312 Stuart, FL	2.0	2.0	1242	$5,500	$4.43	23d	1	0.77mi
1501 NE Ocean Blvd #2 Stuart, FL	2.0	1.5	925	$4,300	$4.65	23d	1	0.86mi
1550 NE Ocean Blvd Stuart, FL	2.0	2.0	1101	$2,125	$1.93	23d	2	1.08mi
2051 NE Ocean Blvd Unit C13 Stuart, FL	2.0	2.0	1545	$4,000	$2.59	13d	1	1.40mi
2051 NE Ocean Blvd Stuart, FL	2.0	2.0	1545	$3,250	$2.10	23d	2	1.40mi
2355 NE Ocean Blvd Unit 1-19B Stuart, FL	2.0	2.0	1197	$6,200	$5.18	23d	1	1.49mi
2355 NE Ocean Blvd Unit 1-7A Stuart, FL	1.0	1.0	937	$3,800	$4.06	23d	1	1.49mi
2355 NE Ocean Blvd Unit 1-20A Stuart, FL	1.0	1.0	937	$2,900	$3.09	23d	1	1.49mi

HOA detail condo

• Monthly dues: $800 · $9,600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $450,000 Active 34 DOM
2. 2026-06-17
   days on market $450,000 Active 33 DOM
3. 2026-06-16
   days on market $450,000 Active 32 DOM
4. 2026-06-15
   days on market $450,000 Active 31 DOM
5. 2026-06-14
   days on market $450,000 Active 29 DOM
6. 2026-06-13
   days on market $450,000 Active 28 DOM
7. 2026-06-10
   days on market $450,000 Active 26 DOM
8. 2026-06-09
   days on market $450,000 Active 25 DOM
9. 2026-06-08
   days on market $450,000 Active 24 DOM
10. 2026-06-07
    days on market $450,000 Active 23 DOM
11. 2026-06-03
    days on market $450,000 Active 19 DOM
12. 2026-06-02
    days on market $450,000 Active 18 DOM
13. 2026-06-01
    days on market $450,000 Active 17 DOM
14. 2026-05-31
    days on market $450,000 Active 16 DOM
15. 2026-05-31
    days on market $450,000 Active 15 DOM
16. 2026-05-15
    listed $450,000 Active 1261-char remark
17. 2003-11-19
    soldstatus $283,000
18. 1980-09-01
    soldstatus $151,800

ⓘ 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: $5,316 · $443/mo
• Projected year-2 tax: $5,316 · $443/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 10/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $27,944
• − Mortgage interest: −$25,207
• − Property taxes: −$5,316
• − Insurance: −$3,048
• − Repairs & maintenance: −$2,236
• − Management: −$2,236
• − HOA: −$9,600
• − Depreciation: −$13,091
• Taxable loss: −$32,788
• Est. tax savings @ 24.0%: +$7,869
• After-tax cash flow: $-16,337/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 — Sewall's Point

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Martin County · 165,223 people
• City population: 10,875
• 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

+196.4% since first listed

3 events — show timeline

• 2026-05-15 Listed $450,000 MCRTC
• 2003-11-19 Sold (Public Records) $283,000 Public Records
• 1980-09-01 Sold (Public Records) $151,800 Public Records

Property tax history

+36.2%/yr

Latest (2025): $5,316 · +6200.6% YoY. Source: county tax records.