11055 SE Federal Hwy #86 · Hobe Sound, FL 33455

$199,900

2 bd · 2.0 ba · 1,292 sqft · Condo public records · 206 Days on market

Built 1998 $155/sqft · 19% above area Est $168k · 19% over $250/mo HOA · 9% 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 +29.3/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

1.5 MILES TO HOBE SOUND BEACH. BOAT/RV STORAGE AVAILABLE. 2 BEDRM/2 BATH SPACIOUS 1998 MANF HOME. WIDE OPEN PLAN!! WOODBRIDGE 55+ COMM. WHICH DOES ALLOW 35 Y.O. IF LIVING W 55+ SHARE HOLDER. BEAUTIFUL KITCHEN W SOLID SURFACE COUNTERS, WHITE CABINETS & PANTRY W PULL OUT SHELVES. COVERED PORCH OVERLOOKING PRIVATE TROPICAL YARD - NO HOMES ON RT OR BEHIND HOME. LR W EXTRA STORAGE LEADS OUT TO 20X10 GLASSED IN & SCREENED FL RM - OFF THAT ANOTHER 10X10 SCREEN RM. HUGE MASTER W DOUBLE DOOR ENTRY & ENSUITE BATH w DUAL SINKS, SOAKING TUB & STEP IN SHOWER. GOOD SIZE 2ND BEDRM & 2ND FULL BATH. NEW A/C 2022, METAL ROOF JUST RE-SEALED! SOARING CEILINGS - WINDOWS GALORE! NEW EXTERIOR DOORS AND PAINT. ACTIVE CLUBHOUSE, HEATED POOL, SHUFFLEBOARD & ACTIVITIES. $250/MO FEE INCLUDES WATER/SEWER/CABLE

Key facts

• Covered porch
• Active clubhouse
• Boat rv storage

Tags

• BOAT RV STORAGE
• PRIVATE TROPICAL YARD
• COVERED PORCH
• GLASSED IN SCREENED ROOM
• ACTIVE CLUBHOUSE
• HEATED POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $705 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 3.5% in Hobe Sound — 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 69/100 on livability (#497 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A; Watch: employment C-, 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 (+1.8%/yr); 279 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).
• At $2,690/mo this rent would consume 46% of the median local household income ($70k/yr) (locally 317% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 206 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $200k implies a 208% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $175,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 206 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.35% ✓
• Cap rate: 10.52%
• Cash-on-cash: 15.11%
• DSCR: 1.67
• GRM: 6.2

CMA / ARV

• ARV (median comp): $168,000
• List price: $199,900
• Delta: 18.99%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.8% rent growth · sell at horizon

5-year hold

• IRR: 4.4%
• Equity multiple: 1.17×
• Total profit: $9,363
• Equity at exit: $29,806

10-year hold

• IRR: 12.7%
• Equity multiple: 1.95×
• Total profit: $53,376
• Equity at exit: $17,284

Cash invested: $55,972 (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 33455

• Rents YoY: 1.8%
• Active inventory: 279
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,690 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$38 /mo · $462/yr
• Insurance: −$83
• HOA: −$250
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $705

Break-even live

Break-even rent $1,798

Max offer price $199,900

Occupancy floor 69%

Sensitivity live

Price	-10% $818	-5% $762	+0% $705	+5% $648	+10% $592
Rent	-10% $492	-5% $599	+0% $705	+5% $811	+10% $917
Rate	-1.0pp $806	-0.5pp $756	base $705	+0.5pp $653	+1.0pp $600

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8968 SE Pine Cone Ln Hobe Sound, FL	3.0	2.0	1383	$2,700	$1.95	24d	1	0.41mi
8574 SE Seagrape Way Hobe Sound, FL	3.0	2.0	1476	$3,600	$2.44	24d	1	0.48mi
7916 SE Sugar Pines Way Hobe Sound, FL	2.0	2.0	1350	$2,700	$2.00	14d	1	0.62mi
8227 SE Croft Cir Hobe Sound, FL	2.0	2.0	1177	$2,100	$1.78	14d	1	0.75mi
10230 SE Federal Hwy Lot A Hobe Sound, FL	3.0	2.0	1600	$1,850	$1.16	24d	1	0.78mi
8933 SE Ceres St Hobe Sound, FL	2.0	2.0	1400	$3,400	$2.43	24d	1	0.87mi
8042 SE Villa Cir Unit 8042 Hobe Sound, FL	2.0	2.0	1026	$1,950	$1.90	24d	1	1.06mi
8005 SE Villa Cir Hobe Sound, FL	2.0	2.0	1026	$1,850	$1.80	24d	1	1.10mi
9627 Crest Ct Hobe Sound, FL	2.0	2.0	1400	$2,500	$1.79	14d	1	1.22mi
9650 SE Eagle Ave Hobe Sound, FL	2.0	2.0–2.5	1241	$2,330	$1.88	24d	5	1.31mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: watersewercablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 38 events

1. 2026-06-18
   days on market $199,900 Active 206 DOM
2. 2026-06-17
   days on market $199,900 Active 205 DOM
3. 2026-06-16
   days on market $199,900 Active 204 DOM
4. 2026-06-15
   days on market $199,900 Active 203 DOM
5. 2026-06-14
   days on market $199,900 Active 201 DOM
6. 2026-06-13
   days on market $199,900 Active 200 DOM
7. 2026-06-10
   days on market $199,900 Active 198 DOM
8. 2026-06-09
   days on market $199,900 Active 197 DOM
9. 2026-06-08
   days on market $199,900 Active 196 DOM
10. 2026-06-07
    days on market $199,900 Active 195 DOM
11. 2026-06-03
    days on market $199,900 Active 191 DOM
12. 2026-06-02
    days on market $199,900 Active 190 DOM
13. 2026-06-01
    days on market $199,900 Active 189 DOM
14. 2026-05-31
    days on market $199,900 Active 188 DOM
15. 2026-05-31
    days on market $199,900 Active 187 DOM
16. 2026-04-16
    price $199,900 817-char remark

    Show marketing remark (817 chars)

    1.5 MILES TO HOBE SOUND BEACH. BOAT/RV STORAGE AVAILABLE. 2 BEDRM/2 BATH SPACIOUS 1998 MANF HOME. WIDE OPEN PLAN!! WOODBRIDGE 55+ COMM. WHICH DOES ALLOW 35 Y.O. IF LIVING W 55+ SHARE HOLDER. BEAUTIFUL KITCHEN W SOLID SURFACE COUNTERS, WHITE CABINETS & PANTRY W PULL OUT SHELVES. COVERED PORCH OVERLOOKING PRIVATE TROPICAL YARD - NO HOMES ON RT OR BEHIND HOME. LR W EXTRA STORAGE LEADS OUT TO 20X10 GLASSED IN & SCREENED FL RM - OFF THAT ANOTHER 10X10 SCREEN RM. HUGE MASTER W DOUBLE DOOR ENTRY & ENSUITE BATH w DUAL SINKS, SOAKING TUB & STEP IN SHOWER. GOOD SIZE 2ND BEDRM & 2ND FULL BATH. NEW A/C 2022, METAL ROOF JUST RE-SEALED! SOARING CEILINGS - WINDOWS GALORE! NEW EXTERIOR DOORS AND PAINT. ACTIVE CLUBHOUSE, HEATED POOL, SHUFFLEBOARD & ACTIVITIES. $250/MO FEE INCLUDES WATER/SEWER/CABLE

17. 2026-03-13
    price $212,500 817-char remark

    Show marketing remark (817 chars)

    1.5 MILES TO HOBE SOUND BEACH. BOAT/RV STORAGE AVAILABLE. 2 BEDRM/2 BATH SPACIOUS 1998 MANF HOME. WIDE OPEN PLAN!! WOODBRIDGE 55+ COMM. WHICH DOES ALLOW 35 Y.O. IF LIVING W 55+ SHARE HOLDER. BEAUTIFUL KITCHEN W SOLID SURFACE COUNTERS, WHITE CABINETS & PANTRY W PULL OUT SHELVES. COVERED PORCH OVERLOOKING PRIVATE TROPICAL YARD - NO HOMES ON RT OR BEHIND HOME. LR W EXTRA STORAGE LEADS OUT TO 20X10 GLASSED IN & SCREENED FL RM - OFF THAT ANOTHER 10X10 SCREEN RM. HUGE MASTER W DOUBLE DOOR ENTRY & ENSUITE BATH w DUAL SINKS, SOAKING TUB & STEP IN SHOWER. GOOD SIZE 2ND BEDRM & 2ND FULL BATH. NEW A/C 2022, METAL ROOF JUST RE-SEALED! SOARING CEILINGS - WINDOWS GALORE! NEW EXTERIOR DOORS AND PAINT. ACTIVE CLUBHOUSE, HEATED POOL, SHUFFLEBOARD & ACTIVITIES. $250/MO FEE INCLUDES WATER/SEWER/CABLE

18. 2025-11-24
    listed $215,000 Active 817-char remark

    Show marketing remark (817 chars)

    1.5 MILES TO HOBE SOUND BEACH. BOAT/RV STORAGE AVAILABLE. 2 BEDRM/2 BATH SPACIOUS 1998 MANF HOME. WIDE OPEN PLAN!! WOODBRIDGE 55+ COMM. WHICH DOES ALLOW 35 Y.O. IF LIVING W 55+ SHARE HOLDER. BEAUTIFUL KITCHEN W SOLID SURFACE COUNTERS, WHITE CABINETS & PANTRY W PULL OUT SHELVES. COVERED PORCH OVERLOOKING PRIVATE TROPICAL YARD - NO HOMES ON RT OR BEHIND HOME. LR W EXTRA STORAGE LEADS OUT TO 20X10 GLASSED IN & SCREENED FL RM - OFF THAT ANOTHER 10X10 SCREEN RM. HUGE MASTER W DOUBLE DOOR ENTRY & ENSUITE BATH w DUAL SINKS, SOAKING TUB & STEP IN SHOWER. GOOD SIZE 2ND BEDRM & 2ND FULL BATH. NEW A/C 2022, METAL ROOF JUST RE-SEALED! SOARING CEILINGS - WINDOWS GALORE! NEW EXTERIOR DOORS AND PAINT. ACTIVE CLUBHOUSE, HEATED POOL, SHUFFLEBOARD & ACTIVITIES. $250/MO FEE INCLUDES WATER/SEWER/CABLE

19. 2025-04-16
    historical
20. 2025-04-11
    price $197,000
21. 2025-03-09
    price $199,000
22. 2025-03-02
    price $185,000
23. 2025-02-06
    price $199,000
24. 2024-12-08
    historical
25. 2024-12-08
    listed $209,900 Active
26. 2024-11-07
    historical
27. 2024-11-07
    listed $215,000 Active
28. 2024-08-28
    price $215,000
29. 2024-07-10
    price $219,900
30. 2024-06-26
    price $238,000
31. 2024-06-13
    price $245,000
32. 2024-05-07
    listed $249,000 Active
33. 2024-05-06
    historical
34. 2018-07-13
    soldstatus $65,000 Closed
35. 2018-06-19
    historical Contingent
36. 2018-05-06
    listed $90,000 Active
37. 2014-09-30
    historical
38. 2010-12-13
    listed $65,000

ⓘ 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: $462 · $38/mo
• Projected year-2 tax: $1,659 · $138/mo
• Expected delta: +$1,197/yr (+$100/mo · 259.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,279
• − Mortgage interest: −$11,198
• − Property taxes: −$462
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,582
• − Management: −$2,582
• − HOA: −$3,000
• − Depreciation: −$5,815
• Taxable income: $5,641
• Est. tax owed @ 24.0%: −$1,354
• After-tax cash flow: $7,106/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 — Hobe Sound

• Score: 69/100
• State rank: #497
• US rank: #8763

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hobe Sound, FL
• County: Martin County · 165,223 people
• City population: 20,018
• Metro: Port St. Lucie, FL
• Population (ZIP): 20,018
• Household income: $70,389
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 317.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 8% Two or more races 6% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3% Dominican 1%
• Common ancestry: Romanian 5% Italian 2% Slovak 2%
• Foreign-born: 8% · Canada
• Languages at home: 91% English-only · Spanish 6% 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: ▼ -287.05%
• Current HPI: 356.7273
• Rent YoY: ▲ 1.80%
• 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

+207.5% since first listed

23 events — show timeline

• 2026-04-16 Price Changed $199,900 Beaches MLS
• 2026-03-13 Price Changed $212,500 Beaches MLS
• 2025-11-24 Listed $215,000 Beaches MLS
• 2025-04-16 Listing Removed — Beaches MLS
• 2025-04-11 Price Changed $197,000 Beaches MLS
• 2025-03-09 Price Changed $199,000 Beaches MLS
• 2025-03-02 Price Changed $185,000 Beaches MLS
• 2025-02-06 Price Changed $199,000 Beaches MLS
• 2024-12-08 Listing Removed — Beaches MLS
• 2024-12-08 Listed $209,900 Beaches MLS
• 2024-11-07 Listed $215,000 Beaches MLS
• 2024-11-07 Listing Removed — Beaches MLS
• 2024-08-28 Price Changed $215,000 Beaches MLS
• 2024-07-10 Price Changed $219,900 Beaches MLS
• 2024-06-26 Price Changed $238,000 Beaches MLS
• 2024-06-13 Price Changed $245,000 Beaches MLS
• 2024-05-07 Listed $249,000 Beaches MLS
• 2024-05-06 Coming Soon — Beaches MLS
• 2018-07-13 Sold (MLS) $65,000 Beaches MLS
• 2018-06-19 Contingent — Beaches MLS
• 2018-05-06 Listed $90,000 Beaches MLS
• 2014-09-30 Listing Removed — Beaches MLS
• 2010-12-13 Listed $65,000 Beaches MLS

Property tax history

+3.7%/yr

Latest (2025): $462 · -2.8% YoY. Source: county tax records.