2929 SE Ocean Blvd Unit 128-7 · Stuart, FL 34996

$124,900

1 bd · 1.5 ba · 696 sqft · Condo public records · 296 Days on market

Built 1972 $179/sqft · 16% above area Est $107k · 16% over $418/mo HOA · 22% 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 +25.8/30.0
• 1% rule +10.0/10.0
• Appreciation +10.0/10.0
• DSCR +8.6/10.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.2/15.0

Listing remarks MLS

Welcome to beautiful Cedar Pointe, a 55 + active community. This unit is a one bedroom with one 1/1/2 bathrooms located on the 2nd floor. Walk into your open layout with spacious kitchen, dining/family room space. The bedroom has an ensuite bath, a walk-in closet and opens into your enclosed lanai. This unit overlooks the green space and pool. Located minutes to the pristine ocean beaches of Hutchinson Island, shopping, restaurants & downtown Stuart.

Key facts

• Walk-in closet
• Spacious kitchen
• Ensuite bath

Tags

• OPEN LAYOUT
• SPACIOUS KITCHEN
• ENSUITE BATH
• WALK-IN CLOSET
• ENCLOSED LANAI
• OVERLOOKS GREEN SPACE

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 4.1% in Stuart — 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 84/100 on livability (#39 in FL, #790 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: crime C-, employment C-, amenities D.
• 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: 251 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Martin County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 296 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 22y ago; this cycle's ask is 7706% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $105k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 8→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 296 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 1972 — 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 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?
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: 1.55% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.42%
• DSCR: 1.46
• GRM: 5.4

CMA / ARV

• ARV (median comp): $107,380
• List price: $124,900
• Delta: 16.32%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.0%
• Equity multiple: 3.51×
• Total profit: $87,625
• Equity at exit: $112,520

10-year hold

• IRR: 27.7%
• Equity multiple: 7.96×
• Total profit: $243,333
• Equity at exit: $242,653

Cash invested: $34,972 (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 34996

• Home prices YoY: 2.1%
• Active inventory: 251
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,941 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$105 /mo · $1,260/yr
• Insurance: −$52
• HOA: −$418
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $304

Break-even live

Break-even rent $1,557

Max offer price $124,900

Occupancy floor 79%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$1,450	$1.79	14d	8	0.16mi
2929 SE Ocean Blvd Stuart, FL	1.0–2.0	1.0–2.0	812	$1,500	$1.85	23d	6	0.16mi
300 SE Saint Lucie Blvd Stuart, FL	1.0–3.0	1.0–2.0	884	$1,789	$2.02	14d	12	0.22mi

HOA detail condo

• Monthly dues: $418 · $5,016/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 43 events

1. 2026-06-18
   days on market $124,900 Active 296 DOM
2. 2026-06-17
   days on market $124,900 Active 295 DOM
3. 2026-06-16
   days on market $124,900 Active 294 DOM
4. 2026-06-15
   days on market $124,900 Active 293 DOM
5. 2026-06-14
   days on market $124,900 Active 291 DOM
6. 2026-06-13
   days on market $124,900 Active 290 DOM
7. 2026-06-10
   days on market $124,900 Active 288 DOM
8. 2026-06-09
   days on market $124,900 Active 287 DOM
9. 2026-06-08
   days on market $124,900 Active 286 DOM
10. 2026-06-07
    days on market $124,900 Active 285 DOM
11. 2026-06-03
    days on market $124,900 Active 281 DOM
12. 2026-06-02
    days on market $124,900 Active 280 DOM
13. 2026-06-01
    days on market $124,900 Active 279 DOM
14. 2026-05-31
    days on market $124,900 Active 278 DOM
15. 2026-05-31
    days on market $124,900 Active 277 DOM
16. 2026-03-01
    historical $1,600
17. 2026-02-04
    listed $1,600
18. 2025-12-09
    historical $1,600
19. 2025-11-05
    listed $1,600
20. 2025-08-26
    listed $124,900 Active 460-char remark

    Show marketing remark (460 chars)

    Welcome to beautiful Cedar Pointe, a 55 + active community. This unit is a one bedroom with one 1/1/2 bathrooms located on the 2nd floor. Walk into your open layout with spacious kitchen, dining/family room space. The bedroom has an ensuite bath, a walk-in closet and opens into your enclosed lanai. This unit overlooks the green space and pool. Located minutes to the pristine ocean beaches of Hutchinson Island, shopping, restaurants & downtown Stuart.

21. 2024-04-12
    historical $1,600
22. 2024-04-04
    historical $1,600
23. 2024-04-03
    listed $1,600
24. 2024-03-29
    historical $1,600
25. 2024-03-27
    listed $1,600
26. 2024-03-18
    listed $1,600
27. 2024-03-08
    historical $1,600
28. 2024-02-22
    price $1,600
29. 2024-02-13
    listed $1,800
30. 2023-12-07
    historical $1,650
31. 2023-11-29
    price $1,650
32. 2023-11-06
    listed $1,400
33. 2022-05-09
    price $1,400
34. 2007-02-26
    soldstatus $105,000
35. 2005-06-08
    soldstatus $105,000
36. 2005-06-06
    soldstatus $105,000 24-char remark

    Show marketing remark (24 chars)

    MUST SEE !!! LIKE NEW!!!

37. 2005-06-06
    price $110,000 24-char remark

    Show marketing remark (24 chars)

    MUST SEE !!! LIKE NEW!!!

38. 2005-04-04
    listed $105,000 24-char remark

    Show marketing remark (24 chars)

    MUST SEE !!! LIKE NEW!!!

39. 2005-03-09
    soldstatus $96,000
40. 2005-03-07
    price $99,900
41. 2005-03-07
    soldstatus $96,000
42. 2004-11-10
    listed $96,000
43. 1996-05-16
    soldstatus $32,500

ⓘ 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: $1,260 · $105/mo
• Projected year-2 tax: $1,260 · $105/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 5/10 Major FEMA zone X (unshaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 8 d/yr ≥106°F today · 27 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: $23,297
• − Mortgage interest: −$6,996
• − Property taxes: −$1,260
• − Insurance: −$624
• − Repairs & maintenance: −$1,864
• − Management: −$1,864
• − HOA: −$5,016
• − Depreciation: −$3,633
• Taxable income: $2,040
• Est. tax owed @ 24.0%: −$490
• After-tax cash flow: $3,155/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 — Stuart

• Score: 84/100
• State rank: #39
• US rank: #790

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Martin County · 165,223 people
• City population: 65,812
• Metro: Port St. Lucie, FL
• Population (ZIP): 10,653
• Household income: $83,929
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 247.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Italian 3% Romanian 3% Slovak 3%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 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: ▲ 13.71%
• Current HPI: 658.96
• Rent YoY: —
• 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

-95.1% since first listed

28 events — show timeline

• 2026-03-01 Rental Removed $1,600 MCRTC
• 2026-02-04 Listed for Rent $1,600 MCRTC
• 2025-12-09 Rental Removed $1,600 MCRTC
• 2025-11-05 Listed for Rent $1,600 MCRTC
• 2025-08-26 Listed $124,900 MCRTC
• 2024-04-12 Rental Removed $1,600 RENT.
• 2024-04-04 Rental Removed $1,600 MCRTC
• 2024-04-03 Listed for Rent $1,600 MCRTC
• 2024-03-29 Rental Removed $1,600 MCRTC
• 2024-03-27 Listed for Rent $1,600 MCRTC
• 2024-03-18 Listed for Rent $1,600 RENT.
• 2024-03-08 Rental Removed $1,600 MCRTC
• 2024-02-22 Price Changed $1,600 MCRTC
• 2024-02-13 Listed for Rent $1,800 MCRTC
• 2023-12-07 Rental Removed $1,650 RENT.
• 2023-11-29 Price Changed $1,650 RENT.
• 2023-11-06 Listed for Rent $1,400 RENT.
• 2022-05-09 Price Changed $1,400 RENT.
• 2007-02-26 Sold (Public Records) $105,000 Public Records
• 2005-06-08 Sold (Public Records) $105,000 Public Records
• 2005-06-06 Price Changed $110,000 MCRTC
• 2005-06-06 Sold (MLS) $105,000 MCRTC
• 2005-04-04 Listed $105,000 MCRTC
• 2005-03-09 Sold (Public Records) $96,000 Public Records
• 2005-03-07 Sold (MLS) $96,000 MCRTC
• 2005-03-07 Price Changed $99,900 MCRTC
• 2004-11-10 Listed $96,000 MCRTC
• 1996-05-16 Sold (Public Records) $32,500 Public Records

Property tax history

+9.9%/yr

Latest (2025): $1,260 · +0.9% YoY. Source: county tax records.