8423 SE Sandy Ln · Hobe Sound, FL 33455

$219,900

3 bd · 1.0 ba · 1,094 sqft · Manufactured public records · 21 Days on market

Built 2006 Est $190k · 16% over

---

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 +26.7/30.0
• DSCR +9.2/10.0
• 1% rule +6.6/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• ARV discount +0.5/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3 bedroom / 1 bath / 1 bonus room home on a large corner lot built in 2006! Enjoy the outdoors with a gazebo and fenced in yard with a side entrance gate for your boat or RV. This home features full yard irrigation, fresh paint, new oven, pitched roof, carport, storage shed, and much more. Ridgeway is a wonderful neighborhood with NO HOA, NO land lease, NOT a 55+ neighborhood, and a has a voluntary pool membership if you would like to join! Soak up some sun or watch some sea turtles with a quick 4-mile drive to Hobe Sound Beach.

Key facts

• Attached carport
• Large corner lot
• Close to the beach

Tags

• ATTACHED CARPORT
• WORKSHOP
• STORAGE AREA
• LARGE CORNER LOT
• CLOSE TO THE BEACH
• QUIET AREA

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $220k.

Deal economics

• At list price, monthly cash flow is $595 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $217k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% 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; 20 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).
• This rent runs 43% of the median local income ($70k/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 $2k of loan paydown is wiped out by about $7k 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 21 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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

• Climate carrying-cost: 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 $216,601 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.16% ✓
• Cap rate: 9.54%
• Cash-on-cash: 11.59%
• DSCR: 1.52
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $190,356
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8301 SE Skylark Ave	0.14mi	2/1.0 (-1)	1,020 (-7%)	1mo	$213,000	$209	76
7184 SE Redbird Cir	0.28mi	2/2.0 (-1)	1,080 (-1%)	2mo	$190,000	$176	74
7148 SE Seahawk St	0.29mi	3/2.0	1,180 (+8%)	1mo	$205,000	$174	68
8500 SE Eagle Ave	0.17mi	2/2.0 (-1)	960 (-12%)	4mo	$135,000	$141	59
7338 SE Redbird Cir	0.38mi	3/2.0	1,224 (+12%)	1mo	$202,000	$165	58
8508 SE Swan Ave	0.22mi	2/2.0 (-1)	1,248 (+14%)	0mo	$195,000	$156	57
7107 SE Seahawk St	0.33mi	2/2.0 (-1)	1,236 (+13%)	1mo	$215,000	$174	53
8217 SE Swan Ave	0.34mi	2/2.0 (-1)	960 (-12%)	2mo	$196,000	$204	53
7829 SE Eagle Ave	0.62mi	2/2.0 (-1)	1,152 (+5%)	2mo	$207,000	$180	52
7878 SE Swan Ave	0.63mi	2/2.0 (-1)	999 (-9%)	2mo	$154,000	$154	46
6900 SE Congress St	0.53mi	2/2.0 (-1)	960 (-12%)	3mo	$138,000	$144	43
8001 SE Shenandoah Dr	0.65mi	2/2.0 (-1)	960 (-12%)	7mo	$180,000	$188	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -0.4%
• Equity multiple: 0.99×
• Total profit: $-813
• Equity at exit: $32,788

10-year hold

• IRR: 8.1%
• Equity multiple: 1.58×
• Total profit: $35,804
• Equity at exit: $19,013

Cash invested: $61,572 (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: 7.2×

Monthly cashflow live

• Estimated rent: $2,546 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$172 /mo · $2,058/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $595

Break-even live

Break-even rent $1,793

Max offer price $219,900

Occupancy floor 72%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7607 SE Hobe Ter Hobe Sound, FL	2.0	2.0	1156	$2,200	$1.90	14d	1	0.13mi
8905 SE Sandy Ln Hobe Sound, FL	2.0	2.0	1006	$1,850	$1.84	23d	1	0.36mi
8002 SE Skylark Ave Hobe Sound, FL	3.0	2.0	990	$2,000	$2.02	23d	1	0.41mi
7030 SE Ridgeway Ter Hobe Sound, FL	3.0	2.0	1296	$2,500	$1.93	23d	1	0.41mi
8997 SE Sandy Ln Hobe Sound, FL	2.0	1.0	900	$2,000	$2.22	23d	1	0.44mi
9073 SE Hobe Ridge Ave Hobe Sound, FL	2.0	2.0	1029	$2,100	$2.04	14d	1	0.50mi
6948 SE Delegate St Hobe Sound, FL	2.0	2.0	840	$1,775	$2.11	23d	1	0.53mi
8014 SE Carlton St Hobe Sound, FL	3.0	2.0	1463	$3,500	$2.39	23d	1	0.68mi
7894 SE Saratoga Dr Hobe Sound, FL	2.0	2.0	1248	$2,100	$1.68	23d	1	0.80mi
8455 SE Palm St Hobe Sound, FL	2.0	2.0	1423	$4,700	$3.30	14d	1	0.87mi
7568 SE Swan Ave Hobe Sound, FL	2.0	2.0	1052	$2,300	$2.19	23d	1	0.88mi
8585 SE Palm St Hobe Sound, FL	2.0	2.0	1304	$10,000	$7.67	23d	1	0.95mi
8585 SE Palm St Hobe Sound, FL	2.0	2.0	1304	$10,000	$7.67	14d	1	0.95mi
9650 SE Eagle Ave Hobe Sound, FL	2.0	2.0–2.5	1241	$2,330	$1.88	23d	5	1.03mi
7462 SE Jamestown Ter Hobe Sound, FL	2.0	2.0	1384	$2,500	$1.81	23d	1	1.07mi
7445 SE Independence Ave Hobe Sound, FL	2.0	2.0	1198	$1,900	$1.59	23d	1	1.09mi
9627 Crest Ct Hobe Sound, FL	2.0	2.0	1400	$2,500	$1.79	14d	1	1.09mi
7442 SE Jamestown Ter Hobe Sound, FL	2.0	2.0	1384	$1,800	$1.30	23d	1	1.11mi
8005 SE Villa Cir Hobe Sound, FL	2.0	2.0	1026	$1,850	$1.80	23d	1	1.21mi
8042 SE Villa Cir Unit 8042 Hobe Sound, FL	2.0	2.0	1026	$1,950	$1.90	23d	1	1.24mi

Listing history 25 events

1. 2026-06-15
   days on market $219,900 Active 21 DOM
2. 2026-06-14
   days on market $219,900 Active 19 DOM
3. 2026-06-13
   days on market $219,900 Active 18 DOM
4. 2026-06-10
   days on market $219,900 Active 16 DOM
5. 2026-06-09
   days on market $219,900 Active 15 DOM
6. 2026-06-08
   days on market $219,900 Active 14 DOM
7. 2026-06-07
   days on market $219,900 Active 13 DOM
8. 2026-06-03
   days on market $219,900 Active 9 DOM
9. 2026-06-02
   days on market $219,900 Active 8 DOM
10. 2026-06-01
    days on market $219,900 Active 7 DOM
11. 2026-05-31
    days on market $219,900 Active 6 DOM
12. 2026-05-31
    days on market $219,900 Active 5 DOM
13. 2026-05-26
    listed $219,900 Active
14. 2023-08-09
    soldstatus $218,000
15. 2023-08-07
    soldstatus $218,000 Closed 544-char remark

    Show marketing remark (544 chars)

    Charming 3 bedroom / 1 bath / 1 bonus room home on a large corner lot built in 2006! Enjoy the outdoors with a gazebo and fenced in yard with a side entrance gate for your boat or RV. This home features full yard irrigation, fresh paint, new oven, pitched roof, carport, storage shed, and much more. Ridgeway is a wonderful neighborhood with NO HOA, NO land lease, NOT a 55+ neighborhood, and a has a voluntary pool membership if you would like to join! Soak up some sun or watch some sea turtles with a quick 4-mile drive to Hobe Sound Beach.

16. 2023-08-04
    status Pending 544-char remark

    Show marketing remark (544 chars)

    Charming 3 bedroom / 1 bath / 1 bonus room home on a large corner lot built in 2006! Enjoy the outdoors with a gazebo and fenced in yard with a side entrance gate for your boat or RV. This home features full yard irrigation, fresh paint, new oven, pitched roof, carport, storage shed, and much more. Ridgeway is a wonderful neighborhood with NO HOA, NO land lease, NOT a 55+ neighborhood, and a has a voluntary pool membership if you would like to join! Soak up some sun or watch some sea turtles with a quick 4-mile drive to Hobe Sound Beach.

17. 2023-07-19
    historical Active Under Contract 544-char remark

    Show marketing remark (544 chars)

    Charming 3 bedroom / 1 bath / 1 bonus room home on a large corner lot built in 2006! Enjoy the outdoors with a gazebo and fenced in yard with a side entrance gate for your boat or RV. This home features full yard irrigation, fresh paint, new oven, pitched roof, carport, storage shed, and much more. Ridgeway is a wonderful neighborhood with NO HOA, NO land lease, NOT a 55+ neighborhood, and a has a voluntary pool membership if you would like to join! Soak up some sun or watch some sea turtles with a quick 4-mile drive to Hobe Sound Beach.

18. 2023-07-17
    listed $230,000 Active 544-char remark

    Show marketing remark (544 chars)

    Charming 3 bedroom / 1 bath / 1 bonus room home on a large corner lot built in 2006! Enjoy the outdoors with a gazebo and fenced in yard with a side entrance gate for your boat or RV. This home features full yard irrigation, fresh paint, new oven, pitched roof, carport, storage shed, and much more. Ridgeway is a wonderful neighborhood with NO HOA, NO land lease, NOT a 55+ neighborhood, and a has a voluntary pool membership if you would like to join! Soak up some sun or watch some sea turtles with a quick 4-mile drive to Hobe Sound Beach.

19. 2016-04-28
    price $55,000 213-char remark

    Show marketing remark (213 chars)

    Very nice affordable 3 bedroom 1 bath spacious home in Hobe Sound, attached carport, workshop, and storage area. Situated on a large corner lot. Close to the beach. Well maintained. Nice quiet and peacefull area.

20. 2015-01-09
    soldstatus $55,000
21. 2015-01-07
    price $64,900 213-char remark

    Show marketing remark (213 chars)

    Very nice affordable 3 bedroom 1 bath spacious home in Hobe Sound, attached carport, workshop, and storage area. Situated on a large corner lot. Close to the beach. Well maintained. Nice quiet and peacefull area.

22. 2015-01-07
    soldstatus $55,000 213-char remark

    Show marketing remark (213 chars)

    Very nice affordable 3 bedroom 1 bath spacious home in Hobe Sound, attached carport, workshop, and storage area. Situated on a large corner lot. Close to the beach. Well maintained. Nice quiet and peacefull area.

23. 2014-09-17
    listed $64,900 213-char remark

    Show marketing remark (213 chars)

    Very nice affordable 3 bedroom 1 bath spacious home in Hobe Sound, attached carport, workshop, and storage area. Situated on a large corner lot. Close to the beach. Well maintained. Nice quiet and peacefull area.

24. 1994-06-03
    soldstatus $38,500
25. 1991-09-26
    soldstatus $47,500

ⓘ 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: $2,058 · $172/mo
• Projected year-2 tax: $2,058 · $172/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,549
• − Mortgage interest: −$12,318
• − Property taxes: −$2,058
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,444
• − Management: −$2,444
• − Depreciation: −$6,397
• Taxable income: $3,788
• Est. tax owed @ 24.0%: −$909
• After-tax cash flow: $6,228/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

+362.9% since first listed

13 events — show timeline

• 2026-05-26 Listed $219,900 FSBO.com
• 2023-08-09 Sold (Public Records) $218,000 Public Records
• 2023-08-07 Sold (MLS) $218,000 Beaches MLS
• 2023-08-04 Pending — Beaches MLS
• 2023-07-19 Contingent — Beaches MLS
• 2023-07-17 Listed $230,000 Beaches MLS
• 2016-04-28 Price Changed $55,000 MCRTC
• 2015-01-09 Sold (Public Records) $55,000 Public Records
• 2015-01-07 Sold (MLS) $55,000 MCRTC
• 2015-01-07 Price Changed $64,900 MCRTC
• 2014-09-17 Listed $64,900 MCRTC
• 1994-06-03 Sold (Public Records) $38,500 Public Records
• 1991-09-26 Sold (Public Records) $47,500 Public Records

Property tax history

+13.3%/yr

Latest (2025): $2,058 · +2.5% YoY. Source: county tax records.