16028 SW Indianwood Cir Unit F-29 · Indiantown, FL 34956

$134,900

2 bd · 2.0 ba · 1,568 sqft · Manufactured · 100 Days on market

Built 2026 Excellent condition $86/sqft · 475% above area

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

Listing remarks MLS

Brand new 2026 home - The Sterling Beautiful 2-bedroom, 2-bath home with a versatile den/study, designed for comfort and modern living. Inside, enjoy recessed and LED lighting, crown molding, stainless steel appliances, smooth glide drawers, and a spacious layout. The home also features a walk-in closet, laundry room with hookups, decorative glass door, and spa-like rain shower head. Step outside to a well-maintained setting with landscaping, gutters, a front porch, screened porch, concrete stairs, and a shed with electricity. A double tandem carport provides ample parking and storage. With stylish finishes and thoughtful upgrades throughout, this home is move-in ready. Schedule your tour today!

Key facts

• Screened-in porch
• Walk-in closet
• Built 2026

Tags

• WALK-IN CLOSET
• DEDICATED LAUNDRY ROOM
• SCREENED-IN PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $135k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $905 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 11.7% in Indiantown — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: schools F, 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: 136 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($933 loan paydown + $9k 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 $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, 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 100 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,759 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.72% ✓
• Cap rate: 14.35%
• Cash-on-cash: 28.77%
• DSCR: 2.28
• GRM: 4.8

CMA / ARV

• ARV (median comp): $23,450
• List price: $134,900
• Delta: 475.27%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15957 Indianwood Circle Cir	0.17mi	2/2.0	1,568 (0%)	6mo	$26,000	$17	87
16222 SW Five Wood Way	0.18mi	2/2.0	1,456 (-7%)	1mo	$1,000	$1	79
14621 SW Divot Dr Unit A-17	0.20mi	2/2.0	1,456 (-7%)	2mo	$25,000	$17	77
16241 SW Sw Five Wood Way Unit J-15	0.20mi	2/2.0	1,456 (-7%)	2mo	$20,000	$14	77
14581 Divot Dr SW	0.17mi	2/2.0	1,456 (-7%)	4mo	$32,000	$22	76
16112 SW Indianwood Cir	0.20mi	2/2.0	1,712 (+9%)	3mo	$32,500	$19	73
16456 SW Three Wood Way	0.31mi	2/2.0	1,680 (+7%)	4mo	$29,000	$17	70
16446 SW Three Wood Way	0.31mi	2/2.0	1,456 (-7%)	6mo	$20,000	$14	69
16477 SW Two Wood Way Way SW	0.33mi	2/2.0	1,680 (+7%)	6mo	$28,000	$17	68
14389 SW Sand Wedge Dr	0.42mi	2/2.0	1,456 (-7%)	2mo	$34,000	$23	66
16537 SW Two Wood Way	0.34mi	3/2.0 (+1)	1,792 (+14%)	2mo	$53,700	$30	54
16448 SW Two Wood Way	0.36mi	3/2.0 (+1)	1,792 (+14%)	2mo	$30,000	$17	53

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

Projected returns pro-forma

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

5-year hold

• IRR: 40.8%
• Equity multiple: 3.70×
• Total profit: $101,932
• Equity at exit: $90,417

10-year hold

• IRR: 37.5%
• Equity multiple: 7.71×
• Total profit: $253,557
• Equity at exit: $169,046

Cash invested: $37,772 (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: 4.8×

Monthly cashflow live

• Estimated rent: $2,326 medium
• Mortgage (P&I): −$707
• Tax est. 1.5%: −$169 /mo · $2,024/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $905

Break-even live

Break-even rent $1,180

Max offer price $134,900

Occupancy floor 56%

Sensitivity live

Price	-10% $999	-5% $952	+0% $905	+5% $859	+10% $812
Rent	-10% $722	-5% $814	+0% $905	+5% $997	+10% $1,089
Rate	-1.0pp $973	-0.5pp $940	base $905	+0.5pp $871	+1.0pp $835

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	0.36mi
15760 SW Hammock Way Indiantown, FL	3.0–4.0	2.0–3.5	1918	$2,420	$1.26	2d	41	1.16mi

Listing history 17 events

1. 2026-06-21
   days on market $134,900 Active 100 DOM
2. 2026-06-18
   days on market $134,900 Active 97 DOM
3. 2026-06-17
   days on market $134,900 Active 96 DOM
4. 2026-06-16
   days on market $134,900 Active 95 DOM
5. 2026-06-15
   days on market $134,900 Active 94 DOM
6. 2026-06-14
   days on market $134,900 Active 92 DOM
7. 2026-06-13
   days on market $134,900 Active 91 DOM
8. 2026-06-10
   days on market $134,900 Active 89 DOM
9. 2026-06-09
   days on market $134,900 Active 88 DOM
10. 2026-06-08
    days on market $134,900 Active 87 DOM
11. 2026-06-07
    days on market $134,900 Active 86 DOM
12. 2026-06-03
    days on market $134,900 Active 82 DOM
13. 2026-06-02
    days on market $134,900 Active 81 DOM
14. 2026-06-01
    days on market $134,900 Active 80 DOM
15. 2026-05-31
    days on market $134,900 Active 79 DOM
16. 2026-05-31
    days on market $134,900 Active 78 DOM
17. 2026-03-14
    listed $134,900 Active 704-char remark

    Show marketing remark (704 chars)

    Brand new 2026 home - The Sterling Beautiful 2-bedroom, 2-bath home with a versatile den/study, designed for comfort and modern living. Inside, enjoy recessed and LED lighting, crown molding, stainless steel appliances, smooth glide drawers, and a spacious layout. The home also features a walk-in closet, laundry room with hookups, decorative glass door, and spa-like rain shower head. Step outside to a well-maintained setting with landscaping, gutters, a front porch, screened porch, concrete stairs, and a shed with electricity. A double tandem carport provides ample parking and storage. With stylish finishes and thoughtful upgrades throughout, this home is move-in ready. Schedule your tour today!

ⓘ 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 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: $27,915
• − Mortgage interest: −$7,556
• − Property taxes: −$2,024
• − Insurance: −$674
• − Repairs & maintenance: −$2,233
• − Management: −$2,233
• − Depreciation: −$3,924
• Taxable income: $9,270
• Est. tax owed @ 24.0%: −$2,225
• After-tax cash flow: $8,641/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 · 1 photo

Excellent 100/100 None rehab

This move-in ready manufactured home is in excellent condition with no visible repairs needed. Enhancements to landscaping and interior paint would further increase its value.

Value-add opportunities

• Both Landscaping enhancement — Enhances curb appeal and adds value
• Both Interior paint touch-up — Maintains fresh look and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping enhancement — Enhances curb appeal and adds value ↑
• Both Interior paint touch-up — Maintains fresh look and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-03-14 Listed $134,900 Zillow