16248 SW Two Wood Way · Indiantown, FL 34956

$114,900

3 bd · 2.0 ba · 1,568 sqft · Condo · 264 Days on market

Built 1987 $73/sqft · 390% above area $1150/mo HOA · 42% of rent

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Why this score? — see what drove the B 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 +26.1/30.0
• 1% rule +10.0/10.0
• DSCR +8.8/10.0
• Appreciation +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

THIS home has LUXURY WATERPROOF VINYL FLOORING WITH 15 YEAR WARRANTY THROUGHOUT ENTIRE HOME. Kitchen features SOLID WOOD WHITE SHAKER CABINETS WITH CUSTOM SOLID SURFACE COUNTER TOPS. NEW STAINLESS STEEL GE SMART APPLIANCES, CUSTOM BUILT STORAGE BREAKFAST BOOTH WITH MATCHING SOLID SURFACE TABLE TOP AND CUSTOM CUSHION. MATCHING UPGRADED BRASS HARDWARE AND LIGHT FIXTURES THROUGHOUT. SHIPLAP BASEBOARDS & TRIM ON ALL INTERIOR WALLS. LIVING ROOM FEATURES A REAL WOOD BURNING FIREPLACE. NEW SOLID WOOD WHITE SHAKER VANITIES WITH SOLID SURFACE COUNTER TOPS IN BOTH FULL BATHROOMS WITH LARGE ANTI FOG LED LIGHTED MIRRORS. FRAMELESS GLASS SHOWER DOORS IN BOTH SHOWERS. LARGE FORMAT PORCELAIN TILE IN BOTH BATHROOMS. MASTER BATH HAS A BAINULTRA 72 BY 42 TWO PERSON THERAPUTIC TUB WITH 44 JETS AND HEATED BACK REST. ALL NEW DECORA ELECTRIC LIGHT SWITHCHES, NEW EXTERIOR & INTERIOR DOORS. NEW ELASTOMERIC ROOF COATING WITH 15 YR LIMITED WARRENTY. (OWNER WILL CONSIDER PARTIAL OWNER FINANCE )

Key facts

• 5009 acre lot
• 2 parking spots
• Community pool

Tags

• WATERPROOF VINYL FLOORING
• STAINLESS STEEL APPLIANCES
• REAL WOOD BURNING FIREPLACE
• FRAMELESS GLASS SHOWER DOORS
• LARGE FORMAT PORCELAIN TILE
• THERAPEUTIC TUB WITH JETS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#829 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment 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: Warfield Elementary School (math 22% / reading 19%, grade F, #2,094 of 2,144 statewide, top 98%, 686 students, 79% FRL); Indiantown Middle School (math 42% / reading 29%, grade F, #414 of 571 statewide, top 73%, 646 students, 75% FRL); South Fork High School (math 36% / reading 48%, grade F, #275 of 667 statewide, top 42%, 1,810 students, 51% FRL) — zoned schools average 68% FRL vs 41% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 33% at this address vs 52% district-wide (-20 pts) — the specific schools serving this property underperform the Martin average; the district grade overstates school quality for this exact location.
• Market conditions: 136 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($794 loan paydown + $8k appreciation (6.7% local appreciation)).
• Martin County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 264 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $115k implies a 857% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent.

Recommended offer $101,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 264 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 2.38% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.79%
• DSCR: 1.48
• GRM: 3.5

CMA / ARV

• ARV (median comp): $23,450
• List price: $114,900
• Delta: 389.98%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

6.65% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.9%
• Equity multiple: 2.77×
• Total profit: $56,805
• Equity at exit: $77,012

10-year hold

• IRR: 24.2%
• Equity multiple: 5.76×
• Total profit: $153,054
• Equity at exit: $143,984

Cash invested: $32,172 (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 34956

• Home prices YoY: 1.2%
• Active inventory: 136
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $2,739 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$74 /mo · $884/yr
• Insurance: −$48
• HOA: −$1,150
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $289

Break-even live

Break-even rent $2,372

Max offer price $114,900

Occupancy floor 84%

Sensitivity live

Price	-10% $354	-5% $322	+0% $289	+5% $257	+10% $224
Rent	-10% $73	-5% $181	+0% $289	+5% $398	+10% $506
Rate	-1.0pp $347	-0.5pp $319	base $289	+0.5pp $260	+1.0pp $229

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15817 SW Winter Rd Indiantown, FL	3.0	2.5	1428	$2,300	$1.61	15d	1	0.54mi
15404 SW American St Indiantown, FL	4.0	2.0	1850	$3,000	$1.62	15d	1	0.69mi
15693 SW Twilight St Indiantown, FL	4.0	2.5	1895	$3,300	$1.74	22d	1	0.70mi
15760 SW Hammock Way Indiantown, FL	3.0–4.0	2.0–3.5	1918	$2,420	$1.26	0d	40	1.06mi

HOA detail condo

• Monthly dues: $1,150 · $13,800/yr
• Likely covers: waterelectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-21
   days on market $114,900 Active 264 DOM
2. 2026-06-18
   days on market $114,900 Active 261 DOM
3. 2026-06-17
   days on market $114,900 Active 260 DOM
4. 2026-06-16
   days on market $114,900 Active 259 DOM
5. 2026-06-15
   days on market $114,900 Active 258 DOM
6. 2026-06-14
   days on market $114,900 Active 256 DOM
7. 2026-06-13
   days on market $114,900 Active 255 DOM
8. 2026-06-10
   days on market $114,900 Active 253 DOM
9. 2026-06-09
   days on market $114,900 Active 252 DOM
10. 2026-06-08
    days on market $114,900 Active 251 DOM
11. 2026-06-07
    days on market $114,900 Active 250 DOM
12. 2026-06-03
    days on market $114,900 Active 246 DOM
13. 2026-06-02
    days on market $114,900 Active 245 DOM
14. 2026-06-01
    days on market $114,900 Active 244 DOM
15. 2026-05-31
    days on market $114,900 Active 243 DOM
16. 2026-05-31
    days on market $114,900 Active 242 DOM
17. 2026-05-01
    price $114,900 994-char remark

    Show marketing remark (994 chars)

    THIS home has LUXURY WATERPROOF VINYL FLOORING WITH 15 YEAR WARRANTY THROUGHOUT ENTIRE HOME. Kitchen features SOLID WOOD WHITE SHAKER CABINETS WITH CUSTOM SOLID SURFACE COUNTER TOPS. NEW STAINLESS STEEL GE SMART APPLIANCES, CUSTOM BUILT STORAGE BREAKFAST BOOTH WITH MATCHING SOLID SURFACE TABLE TOP AND CUSTOM CUSHION. MATCHING UPGRADED BRASS HARDWARE AND LIGHT FIXTURES THROUGHOUT. SHIPLAP BASEBOARDS & TRIM ON ALL INTERIOR WALLS. LIVING ROOM FEATURES A REAL WOOD BURNING FIREPLACE. NEW SOLID WOOD WHITE SHAKER VANITIES WITH SOLID SURFACE COUNTER TOPS IN BOTH FULL BATHROOMS WITH LARGE ANTI FOG LED LIGHTED MIRRORS. FRAMELESS GLASS SHOWER DOORS IN BOTH SHOWERS. LARGE FORMAT PORCELAIN TILE IN BOTH BATHROOMS. MASTER BATH HAS A BAINULTRA 72 BY 42 TWO PERSON THERAPUTIC TUB WITH 44 JETS AND HEATED BACK REST. ALL NEW DECORA ELECTRIC LIGHT SWITHCHES, NEW EXTERIOR & INTERIOR DOORS. NEW ELASTOMERIC ROOF COATING WITH 15 YR LIMITED WARRENTY. (OWNER WILL CONSIDER PARTIAL OWNER FINANCE )

18. 2025-09-30
    listed $125,000 Active 994-char remark

    Show marketing remark (994 chars)

    THIS home has LUXURY WATERPROOF VINYL FLOORING WITH 15 YEAR WARRANTY THROUGHOUT ENTIRE HOME. Kitchen features SOLID WOOD WHITE SHAKER CABINETS WITH CUSTOM SOLID SURFACE COUNTER TOPS. NEW STAINLESS STEEL GE SMART APPLIANCES, CUSTOM BUILT STORAGE BREAKFAST BOOTH WITH MATCHING SOLID SURFACE TABLE TOP AND CUSTOM CUSHION. MATCHING UPGRADED BRASS HARDWARE AND LIGHT FIXTURES THROUGHOUT. SHIPLAP BASEBOARDS & TRIM ON ALL INTERIOR WALLS. LIVING ROOM FEATURES A REAL WOOD BURNING FIREPLACE. NEW SOLID WOOD WHITE SHAKER VANITIES WITH SOLID SURFACE COUNTER TOPS IN BOTH FULL BATHROOMS WITH LARGE ANTI FOG LED LIGHTED MIRRORS. FRAMELESS GLASS SHOWER DOORS IN BOTH SHOWERS. LARGE FORMAT PORCELAIN TILE IN BOTH BATHROOMS. MASTER BATH HAS A BAINULTRA 72 BY 42 TWO PERSON THERAPUTIC TUB WITH 44 JETS AND HEATED BACK REST. ALL NEW DECORA ELECTRIC LIGHT SWITHCHES, NEW EXTERIOR & INTERIOR DOORS. NEW ELASTOMERIC ROOF COATING WITH 15 YR LIMITED WARRENTY. (OWNER WILL CONSIDER PARTIAL OWNER FINANCE )

19. 2025-06-10
    soldstatus $12,000 Closed 160-char remark

    Show marketing remark (160 chars)

    This three bed room unique split floor plan comes unfurnished. It features a fireplace and newer A/C. It is a remodeler's dream, lots to work with. A great buy!

20. 2025-06-05
    status Pending 160-char remark

    Show marketing remark (160 chars)

    This three bed room unique split floor plan comes unfurnished. It features a fireplace and newer A/C. It is a remodeler's dream, lots to work with. A great buy!

21. 2024-10-30
    listed $25,000 Active 160-char remark

    Show marketing remark (160 chars)

    This three bed room unique split floor plan comes unfurnished. It features a fireplace and newer A/C. It is a remodeler's dream, lots to work with. A great buy!

ⓘ 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: $884 · $74/mo
• Projected year-2 tax: $954 · $79/mo
• Expected delta: +$69/yr (+$6/mo · 7.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,863
• − Mortgage interest: −$6,436
• − Property taxes: −$884
• − Insurance: −$574
• − Repairs & maintenance: −$2,629
• − Management: −$2,629
• − HOA: −$13,800
• − Depreciation: −$3,343
• Taxable income: $2,568
• Est. tax owed @ 24.0%: −$616
• After-tax cash flow: $2,856/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 — Indiantown

• Score: 59/100
• State rank: #829
• US rank: #20298

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indiantown, FL
• Population (ZIP): 9,639

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Hispanic / Latino 49% Black 24% White 24% Two or more races 16% Native American 5% Asian 1%
• Hispanic origin (detail): Mexican 21% Puerto Rican 4% Cuban 1%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 22% · Canada
• Languages at home: 55% English-only · Spanish 42%

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: ▲ 6.65%
• Current HPI: 561.896
• Rent YoY: —
• Metro: —
• 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

+359.6% since first listed

5 events — show timeline

• 2026-05-01 Price Changed $114,900 MCRTC
• 2025-09-30 Listed $125,000 MCRTC
• 2025-06-10 Sold (MLS) $12,000 MCRTC
• 2025-06-05 Pending — MCRTC
• 2024-10-30 Listed $25,000 MCRTC

Property tax history

+4.1%/yr

Latest (2024): $884 · -1.9% YoY. Source: county tax records.