1773 SW Vickie Ter · Stuart, FL 34997

$39,900

2 bd · 2.0 ba · 1,104 sqft · Manufactured · 21 Days on market

Built 1983 Fair condition

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Bring your paintbrush, muscles and imagination. Make this home your own in this nicely maintained community in Stuart. Royal Palm is a 55 plus community. Lot lease of $900 covers taxes, lawn care and amenities. Future residents must be approved by Management. Please call for application.

Key facts

• 2 parking spots
• Built 1983
• Listed 20 days

Property features AI

Finance

• Other: Pets allowed (pet restrictions possible)
• Financial info: Land lease applies
• HOA & community: Association: Royal Palm; Association amenities include clubhouse, community room, shuffleboard court, management, and on-site manager; Association fee paid annually (includes common real estate tax); Is a senior community; Land lease in place ($900 monthly, expiring 2036-12-31)

Exterior

• Parking: Total parking for 2 vehicles; Attached carport providing 1 covered space; 1 open parking space; Concrete parking surface
• Security: No specific security features listed
• Utilities: Public water; Public sewer; Cable available; Electricity available; Water connected
• Home design: Mobile Home (double wide); One story; Living area approximately 1,104; Model: PALM; Resale condition; Faces north; Road frontage west of US-1
• Construction: Vinyl siding and other construction materials; Aluminum skirt; Other roof type; No foundation details listed; Mobile length 46 feet
• Exterior features: Screened patio; Patio; Shed(s); Mobile home on the lot; Private maintained road; Not waterfront

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No notable built-in interior features listed; Unfurnished
• Laundry & utility: Laundry located in the carport; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $40k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 44.2% 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.
• Zoned schools: Crystal Lake Elementary School (math 51% / reading 58%, grade C, #892 of 2,144 statewide, top 44%, 441 students, 38% FRL); Dr. David L. Anderson Middle School (math 51% / reading 46%, grade C-, #274 of 571 statewide, top 50%, 1,035 students, 63% FRL); South Fork High School (math 36% / reading 48%, grade F, #275 of 667 statewide, top 42%, 1,810 students, 51% FRL).
• Market conditions: Rents rising (+2.7%/yr); 588 active listings in the ZIP; solid renter incomes; 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 $276 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 2.7% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $39,301 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 4.87% ✓
• Cap rate: 44.15%
• Cash-on-cash: 135.21%
• DSCR: 7.02
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $156,768
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9273 SW Mary Dr	0.11mi	2/2.0	980 (-11%)	5mo	$89,000	$91	72
9274 SW Mary Dr E	0.10mi	3/3.0 (+1)	1,200 (+9%)	6mo	$95,000	$79	66
2554 SW Olds Pl	0.66mi	2/2.0	1,126 (+2%)	11mo	$160,000	$142	56
2596 SW Olds Pl	0.69mi	2/2.0	1,090 (-1%)	12mo	$204,000	$187	55
2542 SW Marquis Ter	0.65mi	2/2.0	1,221 (+11%)	16mo	$233,000	$191	38
8921 SW Chevy Cir	0.67mi	2/2.0	1,000 (-9%)	19mo	$249,900	$250	38
2566 SW Pontiac Pl	0.68mi	2/2.0	1,252 (+13%)	14mo	$151,500	$121	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 · 2.71% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.55×
• Total profit: $73,173
• Equity at exit: $5,949

10-year hold

• IRR: —
• Equity multiple: 15.75×
• Total profit: $164,769
• Equity at exit: $3,450

Cash invested: $11,172 (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 34997

• Rents YoY: 2.7%
• Active inventory: 588
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,942 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $1,259

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 30%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-08
   days on market $39,900 Active 21 DOM
2. 2026-06-07
   days on market $39,900 Active 20 DOM
3. 2026-06-03
   days on market $39,900 Active 16 DOM
4. 2026-06-02
   days on market $39,900 Active 15 DOM
5. 2026-06-01
   days on market $39,900 Active 14 DOM
6. 2026-05-31
   days on market $39,900 Active 13 DOM
7. 2026-05-31
   days on market $39,900 Active 12 DOM
8. 2026-05-17
   listed $39,900 Active

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $23,310
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,865
• − Management: −$1,865
• − Depreciation: −$1,161
• Taxable income: $15,386
• Est. tax owed @ 24.0%: −$3,693
• After-tax cash flow: $11,413/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 · 11 photos

Fair 45/100 Cosmetic rehab

This manufactured home is in fair condition with cosmetic updates needed to enhance its curb appeal and interior aesthetics.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance
• Minor Bathtub and shower — Dated appearance
• Minor Paint — Faded appearance

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace worn kitchen cabinets — New cabinets improve functionality and aesthetics
• Both Replace worn kitchen countertops — New countertops improve functionality and aesthetics
• Both Replace worn bathroom fixtures — Fresh fixtures improve functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Minor	$500–3,000
Bathtub and shower · Dated appearance	Minor	$500–3,000
Paint · Faded appearance	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace worn kitchen cabinets — New cabinets improve functionality and aesthetics ↑
• Both Replace worn kitchen countertops — New countertops improve functionality and aesthetics ↑
• Both Replace worn bathroom fixtures — Fresh fixtures improve functionality and aesthetics ↑

ⓘ 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 — 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): 47,075
• Household income: $78,136
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 1323.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 19% Two or more races 9% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 14% French/Haitian/Cajun 2% 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: ▼ -319.78%
• Current HPI: 336.7717
• Rent YoY: ▲ 2.71%
• 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

1 event — show timeline

• 2026-05-17 Listed $39,900 Beaches MLS