1225 NW 21st St #2203 · North River Shores, FL 34994

$115,450

1 bd · 1.5 ba · 747 sqft · Condo public records · 446 Days on market

Built 1977 $395/mo HOA · 24% of rent

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Why this score? — see what drove the C 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 +22.4/30.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 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

Vista del Lago is a most desirable 55+ community. Near downtown Stuart & Jensen Beach. Friendly atmosphere with excellent management. This condo overlooks the beautiful lake and is near clubhouse, heated pool, walking trail, etc. Vista is a MUST SEE community and this unit is for YOU. Furnished unit featuring ceramic tiling in the baths, dining room & Florida room. Carpet in living and bedroom. Updated kitchen appliances, clean and loved unit. Move in ready. Come see what everyone's talking about at VistaDel Lago!!!

Key facts

• Glass florida room
• Lush landscape
• Walking paths

Tags

• FIRST FLOOR CORNER LOCATION
• FULLY UPDATED KITCHEN
• GLASS FLORIDA ROOM
• GORGEOUS VIEW OF THE LAKE
• LUSH LANDSCAPE
• WALKING PATHS

Property features AI

Finance

• Financial info: Association fee paid monthly
• HOA & community: Community association with monthly fee; Monthly HOA fee reported; Association amenities include pool, clubhouse, billiard room, bocce ball, shuffleboard court, community room, library, workshop area, manager on site, and on-site management; HOA covers cable TV, water, sewer, trash, maintenance of grounds, common areas, and common real estate tax; Senior community; 518 units in the community

Exterior

• Parking: Assigned parking
• Security: Closed circuit camera(s)
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Resale unit; Southeast-facing; Two-story building; Entry on level 2 (unit #2203 in building 22)
• Construction: Concrete and stucco construction
• Exterior features: Porch; Glass-enclosed porch; Many trees on the property; Paved road frontage; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Carpet; Laminate
• Bathrooms: One full bathroom; One half bathroom (powder room)
• Heating & cooling: Electric central heating (individual unit); Electric central cooling (individual unit)
• Interior features: Unfurnished; Closed circuit camera(s) for security
• Laundry & utility: Shared/community laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/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: $102k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).
• This rent runs 31% 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 $798 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 446 days — a 12% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y ago; this cycle's ask is 7116% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $71k; list at $115k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% 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 $101,596 (12.0% below list)

Questions for the listing agent

1. It's been on market 446 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 1977 — 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: 1.40% ✓
• Cap rate: 8.30%
• Cash-on-cash: 7.16%
• DSCR: 1.32
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -9.6%
• Equity multiple: 0.66×
• Total profit: $-10,959
• Equity at exit: $17,214

10-year hold

• IRR: -6.6%
• Equity multiple: 0.65×
• Total profit: $-11,233
• Equity at exit: $9,982

Cash invested: $32,326 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,619 high
• Mortgage (P&I): −$605
• Tax from tax record: −$38 /mo · $450/yr
• Insurance: −$48
• HOA: −$395
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $193

Break-even live

Break-even rent $1,375

Max offer price $115,450

Occupancy floor 83%

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: $28,862
• Closing costs: $3,464
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1225 NW 21st St Unit 7-705 Stuart, FL	1.0	1.5	747	$1,550	$2.07	13d	1	0.03mi
1225 NW 21st St Stuart, FL	1.0	1.5	773	$1,500	$1.94	21d	3	0.03mi
1225 NW 21st St Stuart, FL	1.0	1.5	773	$1,350	$1.75	13d	1	0.03mi
1225 NW 21st St Unit 35-3512 Stuart, FL	1.0	1.5	747	$1,395	$1.87	23d	1	0.03mi
2201 NW Federal Hwy Stuart, FL	1.0–3.0	1.0–2.0	1080	$1,810	$1.68	13d	18	0.30mi
1900 NW Federal Hwy Stuart, FL	1.0–2.0	1.0–2.0	1013	$2,165	$2.14	13d	21	0.32mi
1010 NW Fresco Way Jensen Beach, FL	1.0–3.0	1.0–2.0	1011	$1,725	$1.71	13d	10	0.61mi
800 NW Fork Rd Stuart, FL	1.0–2.0	1.0–2.0	886	$1,800	$2.03	13d	2	1.13mi

HOA detail condo

• Monthly dues: $395 · $4,740/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-05-15
   historical Active Under Contract
2. 2026-02-15
   status Active
3. 2026-02-05
   historical
4. 2026-02-05
   price $115,450
5. 2025-12-05
   historical $1,400
6. 2025-12-05
   price $129,900
7. 2025-11-20
   price $1,400
8. 2025-11-02
   listed $1,600
9. 2025-11-01
   price $133,900
10. 2025-10-31
    historical
11. 2025-02-24
    listed $134,900 Active
12. 2025-02-24
    listed $134,900 Active
13. 2008-01-24
    soldstatus $71,000
14. 2008-01-18
    price $82,900 533-char remark

    Show marketing remark (533 chars)

    Vista del Lago is a most desirable 55+ community. Near downtown Stuart & Jensen Beach. Friendly atmosphere with excellent management. This condo overlooks the beautiful lake and is near clubhouse, heated pool, walking trail, etc. Vista is a MUST SEE community and this unit is for YOU. Furnished unit featuring ceramic tiling in the baths, dining room & Florida room. Carpet in living and bedroom. Updated kitchen appliances, clean and loved unit. Move in ready. Come see what everyone's talking about at VistaDel Lago!!!

15. 2008-01-18
    soldstatus $71,000 533-char remark

    Show marketing remark (533 chars)

    Vista del Lago is a most desirable 55+ community. Near downtown Stuart & Jensen Beach. Friendly atmosphere with excellent management. This condo overlooks the beautiful lake and is near clubhouse, heated pool, walking trail, etc. Vista is a MUST SEE community and this unit is for YOU. Furnished unit featuring ceramic tiling in the baths, dining room & Florida room. Carpet in living and bedroom. Updated kitchen appliances, clean and loved unit. Move in ready. Come see what everyone's talking about at VistaDel Lago!!!

16. 2007-10-10
    listed $71,000 533-char remark

    Show marketing remark (533 chars)

    Vista del Lago is a most desirable 55+ community. Near downtown Stuart & Jensen Beach. Friendly atmosphere with excellent management. This condo overlooks the beautiful lake and is near clubhouse, heated pool, walking trail, etc. Vista is a MUST SEE community and this unit is for YOU. Furnished unit featuring ceramic tiling in the baths, dining room & Florida room. Carpet in living and bedroom. Updated kitchen appliances, clean and loved unit. Move in ready. Come see what everyone's talking about at VistaDel Lago!!!

17. 2000-05-23
    soldstatus $39,000
18. 1992-09-02
    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: $450 · $38/mo
• Projected year-2 tax: $958 · $80/mo
• Expected delta: +$508/yr (+$42/mo · 112.8%)

ⓘ 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: $19,429
• − Mortgage interest: −$6,467
• − Property taxes: −$450
• − Insurance: −$577
• − Repairs & maintenance: −$1,554
• − Management: −$1,554
• − HOA: −$4,740
• − Depreciation: −$3,359
• Taxable income: $727
• Est. tax owed @ 24.0%: −$174
• After-tax cash flow: $2,141/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

+196.0% since first listed

18 events — show timeline

• 2026-05-15 Contingent — Beaches MLS
• 2026-02-15 Relisted — Beaches MLS
• 2026-02-05 Price Changed $115,450 Beaches MLS
• 2026-02-05 Listing Removed — Beaches MLS
• 2025-12-05 Rental Removed $1,400 GFLMLS
• 2025-12-05 Price Changed $129,900 Beaches MLS
• 2025-11-20 Price Changed $1,400 GFLMLS
• 2025-11-02 Listed for Rent $1,600 GFLMLS
• 2025-11-01 Price Changed $133,900 Beaches MLS
• 2025-10-31 Listing Removed — MCRTC
• 2025-02-24 Listed $134,900 MCRTC
• 2025-02-24 Listed $134,900 Beaches MLS
• 2008-01-24 Sold (Public Records) $71,000 Public Records
• 2008-01-18 Sold (MLS) $71,000 MCRTC
• 2008-01-18 Price Changed $82,900 MCRTC
• 2007-10-10 Listed $71,000 MCRTC
• 2000-05-23 Sold (Public Records) $39,000 Public Records
• 1992-09-02 Sold (Public Records) $39,000 Public Records

Property tax history

+48.1%/yr

Latest (2025): $450 · -0.8% YoY. Source: county tax records.