5413 SE Miles Grant Rd Unit G206 · Port Salerno, FL 34997

$140,000

1 bd · 1.5 ba · 903 sqft · Condo · 129 Days on market

Built 1973 Average condition $155/sqft · at area comps Est $146k · at est. $377/mo HOA · 21% of rent

---

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 +16.8/30.0
• ARV discount +9.3/15.0
• 1% rule +8.0/10.0
• DSCR +5.2/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Condition / age +2.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Second Floor 1/1.5 Condo with golf course views in Miles Grant Country Club. This is your opportunity to economically have the country club lifestyle and to make this property your own with your design and tastes. Miles Grant is an active community with numerous activities including golf, pickleball, tennis, tavern, and dining and social events. Never have a dull moment. Additionally, the community is located a short drive to numerous dining and entertainment venues in Port Salerno (about 5 minutes away), and downtown Stuart (15-20 minutes). The Social Membership is mandatory for owners for $1950 per year, with a minimum food and beverage of $350 ($700 for a couple) per year. Located at the East end of Cove Road, the property is just off the Intracoastal and a short drive to shopping and other services at US1 just a short drive away.

Key facts

• $377 HOA
• Community pool
• Built 1973

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $140k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $90 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 3.1% in Port Salerno — 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 70/100 on livability (#440 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, health & safety A; 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 rising (+2.7%/yr); 588 active listings in the ZIP; 7 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

• Local home prices are declining (-3.0%/yr); year-one equity from $968 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.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: HOA is 21% 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 $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 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 1973 — 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: 1.30% ✓
• Cap rate: 7.07%
• Cash-on-cash: 2.76%
• DSCR: 1.12
• GRM: 6.4

CMA / ARV

• ARV (median comp): $145,819
• List price: $140,000
• Delta: -3.99%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.71% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.56×
• Total profit: $-17,207
• Equity at exit: $20,874

10-year hold

• IRR: -3.3%
• Equity multiple: 0.78×
• Total profit: $-8,684
• Equity at exit: $12,105

Cash invested: $39,200 (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 34997

• Rents YoY: 2.7%
• Active inventory: 588
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,816 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$377
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $90

Break-even live

Break-even rent $1,702

Max offer price $140,000

Occupancy floor 90%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4606 SE Binnacle Way Unit 1 Stuart, FL	2.0	1.0	928	$1,850	$1.99	14d	1	1.00mi
5045 SE Primrose Way Stuart, FL	2.0	2.0	837	$1,900	$2.27	14d	1	1.01mi
5393 SE 48th Ave Unit B Stuart, FL	—	1.0	600	$1,225	$2.04	23d	1	1.14mi
5393 SE 48th Ave Unit C Stuart, FL	1.0	1.0	750	$1,550	$2.07	23d	1	1.14mi
4404 SE Mulford Ln Stuart, FL	2.0	1.0	834	$2,500	$3.00	23d	1	1.16mi
5803 SE Collins Ave Stuart, FL	2.0	2.0	874	$2,200	$2.52	23d	1	1.20mi
5833 SE 47th Ave Stuart, FL	1.0	1.0	700	$1,500	$2.14	23d	2	1.38mi

HOA detail condo

• Monthly dues: $377 · $4,524/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $140,000 Active 129 DOM
2. 2026-06-17
   days on market $140,000 Active 128 DOM
3. 2026-06-16
   days on market $140,000 Active 127 DOM
4. 2026-06-15
   days on market $140,000 Active 126 DOM
5. 2026-06-14
   days on market $140,000 Active 124 DOM
6. 2026-06-13
   days on market $140,000 Active 123 DOM
7. 2026-06-10
   days on market $140,000 Active 121 DOM
8. 2026-06-09
   days on market $140,000 Active 120 DOM
9. 2026-06-08
   days on market $140,000 Active 119 DOM
10. 2026-06-07
    days on market $140,000 Active 118 DOM
11. 2026-06-03
    days on market $140,000 Active 114 DOM
12. 2026-06-02
    days on market $140,000 Active 113 DOM
13. 2026-06-01
    pricedays on market $140,000 Active 112 DOM
14. 2026-05-31
    days on market $145,000 Active 111 DOM
15. 2026-05-31
    days on market $145,000 Active 110 DOM
16. 2026-02-09
    listed $145,000 Active 845-char remark

    Show marketing remark (845 chars)

    Second Floor 1/1.5 Condo with golf course views in Miles Grant Country Club. This is your opportunity to economically have the country club lifestyle and to make this property your own with your design and tastes. Miles Grant is an active community with numerous activities including golf, pickleball, tennis, tavern, and dining and social events. Never have a dull moment. Additionally, the community is located a short drive to numerous dining and entertainment venues in Port Salerno (about 5 minutes away), and downtown Stuart (15-20 minutes). The Social Membership is mandatory for owners for $1950 per year, with a minimum food and beverage of $350 ($700 for a couple) per year. Located at the East end of Cove Road, the property is just off the Intracoastal and a short drive to shopping and other services at US1 just a short drive away.

17. 2026-01-12
    historical
18. 2025-09-16
    listed $145,000 Active
19. 2016-06-26
    historical
20. 2007-05-08
    listed $124,900

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,794
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,744
• − Management: −$1,744
• − HOA: −$4,524
• − Depreciation: −$4,073
• Taxable loss: −$932
• Est. tax savings @ 24.0%: +$224
• After-tax cash flow: $1,307/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

Average 55/100 Cosmetic rehab

This second-floor condo in Miles Grant Country Club offers golf course views and a community lifestyle. It requires minor cosmetic repairs, primarily to the paint, and could benefit from updates to flooring and paint to increase its resale and rental value.

Repairs flagged

• Minor Paint — Paint appears worn

Value-add opportunities

• Both Paint — Fresh paint enhances curb appeal and interior aesthetics
• Both Flooring — New flooring would improve the overall look and feel of the home
• Both Paint — Fresh paint enhances curb appeal and interior aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Paint appears worn	Minor	$500–3,000
Total estimated repair cost · 1 items		$500–3,000

Value-add ROI direction

• Both Paint — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Flooring — New flooring would improve the overall look and feel of the home ↑
• Both Paint — Fresh paint enhances curb appeal and interior aesthetics ↑

ⓘ 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 — Port Salerno

• Score: 70/100
• State rank: #440
• US rank: #7873

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Salerno, FL
• County: Martin County · 165,223 people
• Metro: Port St. Lucie, FL
• Population (ZIP): 47,075
• Household income: $78,136
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 1323.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 19% Two or more races 9% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 14% French/Haitian/Cajun 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: ▼ -319.78%
• Current HPI: 336.7717
• Rent YoY: ▲ 2.71%
• 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

+16.1% since first listed

5 events — show timeline

• 2026-02-09 Listed $145,000 MCRTC
• 2026-01-12 Listing Removed — Beaches MLS
• 2025-09-16 Listed $145,000 Beaches MLS
• 2016-06-26 Listing Removed — MCRTC
• 2007-05-08 Listed $124,900 MCRTC