1935 SW Silver Pine Way SW Unit 117-D1 · Palm City, FL 34990

$199,900

3 bd · 2.0 ba · 1,468 sqft · Condo · 248 Days on market

Built 1988 Fair condition $136/sqft · 9% below area Est $219k · 9% under $752/mo HOA · 29% 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 +11.4/15.0
• Cash flow +10.9/30.0
• 1% rule +7.9/10.0
• Schools +6.8/10.0
• Livability +4.0/5.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming 3-bedroom, 2-bath home in a desirable gated community in Palm City. Conveniently located near the highway, top-rated schools, and popular shopping areas, this home offers both comfort and convenience. Enjoy a bright, open layout with a spacious screened-in porch perfect for relaxing or entertaining. The community features fantastic amenities, including a pool, clubhouse, and tennis courts. With plenty of potential to make it your own, this property is a wonderful opportunity in a highly sought-after area. Don’t miss out! Call for Concessions offered.

Key facts

• Gated community
• Clubhouse
• Tennis courts

Tags

• GATED COMMUNITY
• SPACIOUS SCREENED-IN PORCH
• POOL
• CLUBHOUSE
• TENNIS COURTS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $200k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-89 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $187k (6.5% below list).
• 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 5.8% vs local median 2.3% in Palm City — 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 79/100 on livability (#140 in FL, #2,113 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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.
• Zoned schools: Bessey Creek Elementary School (math 78% / reading 78%, grade A, #149 of 2,144 statewide, top 8%, 562 students, 28% FRL); Hidden Oaks Middle School (math 82% / reading 71%, grade A, #33 of 571 statewide, top 6%, 940 students, 23% FRL); Martin County High School (math 45% / reading 54%, grade D, #179 of 667 statewide, top 29%, 2,273 students, 42% FRL).
• Zoned-school proficiency averages 68% at this address vs 52% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Martin average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-0.1%/yr); 528 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 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 $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.

Negotiation context

• It's been on market 248 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y 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 $70k; list at $200k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/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. 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 248 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. 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?
10. 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.
11. 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.
12. 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: 1.29% ✓
• Cap rate: 5.76%
• Cash-on-cash: -1.92%
• DSCR: 0.91
• GRM: 6.4

CMA / ARV

• ARV (median comp): $218,694
• List price: $199,900
• Delta: -8.59%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2703 SW Matheson Ave Apt 116d	0.09mi	2/2.0 (-1)	1,111 (-24%)	1mo	$190,000	$171	65
2975 SW Mariposa Cir	0.57mi	3/2.0	1,611 (+10%)	1mo	$415,000	$258	56
3544 SW Quail Meadow Trl Unit F	1.34mi	2/2.0 (-1)	1,421 (-3%)	0mo	$290,000	$204	54
2806 SW Ridgewood Pl	1.14mi	2/2.0 (-1)	1,525 (+4%)	1mo	$300,000	$197	53
1731 SW Shady Lake Ter	0.43mi	2/2.0 (-1)	1,680 (+14%)	0mo	$395,000	$235	50
3391 SW Sunset Trace Cir	1.28mi	2/2.5 (-1)	1,374 (-6%)	1mo	$233,700	$170	47
2842 SW Lakemont Pl	0.86mi	2/2.5 (-1)	1,374 (-6%)	1mo	$275,000	$200	46
3784 SW Sunset Trace Cir	1.01mi	3/2.0	1,296 (-12%)	1mo	$300,000	$231	45
2310 SW Bobalink Ct	1.20mi	3/2.0	1,721 (+17%)	0mo	$455,000	$264	40
2534 SW Conch Cove Ln	0.88mi	3/2.0	1,808 (+23%)	1mo	$975,000	$539	39
1489 SW Pine Tree Ln	1.22mi	3/2.0	1,806 (+23%)	1mo	$1,100,000	$609	39
2904 SW Sunset Trace Cir	1.11mi	2/2.5 (-1)	1,236 (-16%)	0mo	$255,000	$206	33

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -24.7%
• Equity multiple: 0.19×
• Total profit: $-45,170
• Equity at exit: $29,806

10-year hold

• IRR: -46.4%
• Equity multiple: -0.32×
• Total profit: $-73,936
• 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 →

Active competition Active MLS

• For sale now: 0 active · 1 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 34990

• Home prices YoY: -29.7%
• Rents YoY: -0.1%
• Active inventory: 528
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,587 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$752
• Vacancy / Maint / Mgmt: −$543
• Net cashflow: $-89

Break-even live

Break-even rent $2,701

Max offer price $186,958

Occupancy floor 98%

Sensitivity live

Price	-10% $49	-5% $-20	+0% $-89	+5% $-159	+10% $-228
Rent	-10% $-294	-5% $-192	+0% $-89	+5% $13	+10% $115
Rate	-1.0pp $11	-0.5pp $-39	base $-89	+0.5pp $-141	+1.0pp $-194

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1995 SW Silver Pine Way Apt 119-D1 Palm City, FL	3.0	2.0	1488	$2,100	$1.41	15d	1	0.03mi
1605 SW Silver Pine Way Unit F2 Palm City, FL	2.0	2.0	1111	$2,000	$1.80	72d	1	0.22mi
1544 SW Silver Pine Way Unit F-104 Palm City, FL	2.0	2.0	1170	$2,500	$2.14	63d	1	0.25mi
2868 SW Shinnecock Hills Ct Palm City, FL	3.0	2.0	1451	$3,000	$2.07	72d	1	0.32mi
2527 SW Brookwood Ln Palm City, FL	2.0	2.0	1804	$3,750	$2.08	15d	1	0.40mi
2735 SW Mariposa Cir Palm City, FL	2.0	2.0	1612	$2,800	$1.74	72d	1	0.63mi
3375 SW Mapp Rd Unit 204 Palm City, FL	3.0	2.0	1067	$2,300	$2.16	72d	1	0.75mi
2442 SW Danbury Ln Palm City, FL	2.0	2.5	1374	$2,550	$1.86	15d	1	0.82mi
3405 SW Feroe Ave Palm City, FL	2.0	2.0	1275	$2,800	$2.20	72d	1	0.86mi
2819 SW Cornell Ave Palm City, FL	2.0	1.5	1060	$2,050	$1.93	15d	1	0.91mi
2865 SW Lakemont Pl Palm City, FL	2.0	2.5	1374	$2,300	$1.67	15d	1	0.92mi
3662 SW Sunset Trace Cir Palm City, FL	3.0	2.0	1296	$2,500	$1.93	63d	1	0.99mi
1634 SW Crossing Cir Palm City, FL	2.0	1.5	1258	$2,200	$1.75	72d	1	1.02mi
1880 SW Springfield Ct Palm City, FL	2.0	2.0	1525	$2,950	$1.93	72d	1	1.06mi
3579 SW Sunset Trace Cir Palm City, FL	2.0	2.5	1236	$2,300	$1.86	72d	1	1.10mi
3599 SW Sunset Trace Cir Palm City, FL	2.0	2.5	1236	$2,200	$1.78	70d	1	1.13mi
3513 SW Sunset Trace Cir Palm City, FL	2.0	2.5	1374	$2,350	$1.71	15d	1	1.15mi
664 SW 35th St Apt 3 Palm City, FL	2.0	1.5	900	$1,700	$1.89	15d	1	1.21mi
664 SW 35th St Unit 6 Palm City, FL	2.0	1.5	900	$1,850	$2.06	63d	1	1.21mi
3505 SW Quail Meadow Trl Unit A Palm City, FL	2.0	2.0	1331	$2,500	$1.88	63d	1	1.31mi
1950 SW Palm City Rd Unit 3-105 Stuart, FL	2.0	2.0	938	$2,000	$2.13	15d	1	1.31mi
1868 SW Palm City Rd Apt 202 Stuart, FL	2.0	2.0	1191	$2,900	$2.43	72d	1	1.35mi
1950 SW Palm City Rd Unit 4-4205 Stuart, FL	2.0	2.0	938	$2,400	$2.56	63d	1	1.36mi
1950 SW Palm City Rd Stuart, FL	2.0	2.0	1031	$3,150	$3.05	72d	3	1.36mi
3641 SW Coquina Cove Way Palm City, FL	1.0–3.0	1.0–2.0	987	$2,695	$2.73	15d	14	1.50mi

HOA detail $752/mo · $9,024/yr condo

• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $199,900 Active 248 DOM
2. 2026-08-07
   days on market $199,900 Active 247 DOM
3. 2026-08-06
   days on market $199,900 Active 246 DOM
4. 2026-08-05
   days on market $199,900 Active 245 DOM
5. 2026-08-04
   days on market $199,900 Active 244 DOM
6. 2026-08-03
   days on market $199,900 Active 243 DOM
7. 2026-07-31
   days on market $199,900 Active 240 DOM
8. 2026-07-29
   days on market $199,900 Active 238 DOM
9. 2026-07-27
   days on market $199,900 Active 236 DOM
10. 2026-07-25
    days on market $199,900 Active 234 DOM
11. 2026-07-23
    days on market $199,900 Active 232 DOM
12. 2026-07-22
    days on market $199,900 Active 231 DOM
13. 2026-07-21
    days on market $199,900 Active 230 DOM
14. 2026-07-18
    days on market $199,900 Active 227 DOM
15. 2026-07-16
    days on market $199,900 Active 225 DOM
16. 2026-07-16
    days on market $199,900 Active 224 DOM
17. 2026-07-14
    days on market $199,900 Active 223 DOM
18. 2026-07-13
    days on market $199,900 Active 222 DOM
19. 2026-07-12
    days on market $199,900 Active 221 DOM
20. 2026-07-11
    days on market $199,900 Active 220 DOM
21. 2026-07-10
    days on market $199,900 Active 219 DOM
22. 2026-07-09
    days on market $199,900 Active 218 DOM
23. 2026-07-08
    days on market $199,900 Active 217 DOM
24. 2026-07-07
    days on market $199,900 Active 216 DOM
25. 2026-07-06
    days on market $199,900 Active 215 DOM
26. 2026-07-05
    days on market $199,900 Active 214 DOM
27. 2026-07-04
    days on market $199,900 Active 213 DOM
28. 2026-07-03
    days on market $199,900 Active 212 DOM
29. 2026-07-02
    days on market $199,900 Active 211 DOM
30. 2026-07-01
    days on market $199,900 Active 210 DOM
31. 2026-06-30
    days on market $199,900 Active 209 DOM
32. 2026-06-29
    days on market $199,900 Active 208 DOM
33. 2026-06-28
    days on market $199,900 Active 207 DOM
34. 2026-06-28
    days on market $199,900 Active 206 DOM
35. 2026-06-27
    days on market $199,900 Active 205 DOM
36. 2026-06-25
    days on market $199,900 Active 203 DOM
37. 2026-06-23
    days on market $199,900 Active 201 DOM
38. 2026-06-21
    days on market $199,900 Active 200 DOM
39. 2026-06-18
    remarks 699-char remark
40. 2026-06-18
    price $199,900 Active 197 DOM
41. 2026-06-18
    days on market $205,000 Active 197 DOM
42. 2026-06-17
    days on market $205,000 Active 196 DOM
43. 2026-06-16
    days on market $205,000 Active 195 DOM
44. 2026-06-15
    days on market $205,000 Active 194 DOM
45. 2026-06-14
    days on market $205,000 Active 192 DOM
46. 2026-06-13
    days on market $205,000 Active 191 DOM
47. 2026-06-10
    days on market $205,000 Active 189 DOM
48. 2026-06-09
    days on market $205,000 Active 188 DOM
49. 2026-06-08
    days on market $205,000 Active 187 DOM
50. 2026-06-07
    days on market $205,000 Active 186 DOM

ⓘ 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 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 · 24 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: $31,048
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,484
• − Management: −$2,484
• − HOA: −$9,024
• − Depreciation: −$5,815
• Taxable loss: −$3,954
• Est. tax savings @ 24.0%: +$949
• After-tax cash flow: $-124/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

Fair 45/100 Cosmetic rehab Est. rehab $7,340–$22,020 screening

This 3-bedroom, 2-bath condo in a desirable gated community in Palm City is in fair condition with cosmetic updates needed. The property offers a bright, open layout with a spacious screened-in porch and access to community amenities. With a few updates, it can be move-in ready and attract buyers or renters.

Repairs flagged

• Minor ceiling fan in living room — light fixture appears loose
• Minor ceiling fan in dining room — light fixture appears loose

Value-add opportunities

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace ceiling fans — new ceiling fans improve functionality and aesthetics ↑
• Both landscape front yard — improved landscaping enhances curb appeal and property value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 68/100

Zoned Schools

Elementary Bessey Creek Elementary School A FL #149/2,144 Nat'l #1,556/41,679 Middle Hidden Oaks Middle School A FL #33/571 Nat'l #425/14,009 High Martin County High School D FL #179/667 Nat'l #5,677/17,239

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

B Composite livability gradescore 79/100

Livability — Palm City

• Score: 79/100
• State rank: #140
• US rank: #2113

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm City, FL
• County: Martin County · 172,383 people
• City population: 30,592
• Metro: Port St. Lucie, FL
• Population (ZIP): 30,592
• Household income: $129,560
• Rent vs Own: 9.2% rent · 90.8% own
• Severe rent burden: 4% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 10% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Cuban 3%
• Common ancestry: Romanian 4% Italian 3% Scotch-Irish 2%
• Foreign-born: 9% · Canada, China, Jamaica
• Languages at home: 90% English-only · Spanish 6% Russian/Polish/Slavic 1% Tagalog/Filipino 1%

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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: ▼ -138.81%
• Current HPI: 328.9662
• Rent YoY: ▼ -0.09%
• Metro: Port St. Lucie, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

+177.4% since first listed

5 events — show timeline

• 2026-04-23 Price Changed $205,000 MCRTC
• 2026-02-24 Price Changed $209,950 MCRTC
• 2025-11-12 Listed $215,000 MCRTC
• 1999-12-22 Sold (MLS) $70,000 MCRTC
• 1999-07-30 Listed $73,900 MCRTC