315 NE Cardinal NE Unit L15 · Jensen Beach, FL 34957

$148,888

2 bd · 2.0 ba · 869 sqft · Manufactured · 112 Days on market

Built 2025 Excellent condition $168/mo HOA ↓ 7% since listing

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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 +29.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Refined Coastal Living — Brand New Construction with Ownership Advantages Welcome to little gem in the sought-after 55+ ocean-access community of Tropical Acres in Jensen Beach. This is true ownership within a co-op community — no lot rent — with remarkably low HOA dues of $168 each month, covering common areas, pool service, and reserves. This never-occupied residence delivers modern comfort with quality construction standards, including 200-amp electrical service, 8-foot ceilings, attic-distributed A/C ventilation, and a transferable home warranty for added peace of mind. An 8x10 storage shed, constructed to Martin County Wind Mitigation Code (Cat 3) standards and prepped for electrical service, adds practical convenience. The property is connected to city water and sewer, with a private well dedicated to irrigation. Residents also enjoy optional on-site RV and boat storage for $30 each month. Ideally positioned just moments from downtown Jensen Beach and minutes to the beach, this home offers the rare combination of coastal lifestyle, low-maintenance living, and true land ownership. All appliances are brand new. The home has never been lived in.

Key facts

• New construction
• 8 foot ceilings
• Low hoa dues

Tags

• NEW CONSTRUCTION
• OCEAN ACCESS COMMUNITY
• LOW HOA DUES
• QUALITY CONSTRUCTION STANDARDS
• 200 AMP ELECTRICAL SERVICE
• 8 FOOT CEILINGS

🏢 Co-op / cooperative unit. The $148,888 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $149k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $508 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $135k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 4.1% in Jensen Beach — 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 70/100 on livability (#432 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living B+; Watch: amenities F, commute F, health & safety 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: Rents rising (+1.0%/yr); 536 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 737 units permitted in Martin County in 2024 (167 in 5+ unit buildings).
• This rent runs 37% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 112 days — a 9% lower offer ($135k) 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,488 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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.
7. 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.
8. 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: 1.45% ✓
• Cap rate: 10.39%
• Cash-on-cash: 14.62%
• DSCR: 1.65
• GRM: 5.7

CMA / ARV

• ARV (median comp): $52,868
• List price: $148,888
• Delta: 181.62%
• Verdict: OVERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
607 S Seas Way	0.03mi	2/2.0	912 (+5%)	15mo	$80,000	$88	78

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 · 1.0% rent growth · sell at horizon

5-year hold

• IRR: 2.6%
• Equity multiple: 1.10×
• Total profit: $4,111
• Equity at exit: $22,200

10-year hold

• IRR: 10.0%
• Equity multiple: 1.70×
• Total profit: $29,014
• Equity at exit: $12,873

Cash invested: $41,689 (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 34957

• Rents YoY: 1.0%
• Active inventory: 536
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,158 high
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,233/yr
• Insurance: −$62
• HOA: −$168
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $508

Break-even live

Break-even rent $1,515

Max offer price $148,888

Occupancy floor 71%

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: $37,222
• Closing costs: $4,467
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1585 NE Beacon Dr #1103 Jensen Beach, FL	2.0	2.0	961	$1,495	$1.56	23d	1	0.27mi
1999 NE Collins Cir Unit 3-80 Jensen Beach, FL	2.0	2.0	1067	$1,775	$1.66	23d	1	0.28mi
1971 NE Collins Cir #20 Jensen Beach, FL	2.0	2.0	1037	$1,750	$1.69	23d	1	0.30mi
2013 NE Collins Cir #50 Jensen Beach, FL	2.0	2.0	903	$1,800	$1.99	14d	1	0.30mi
1622 NE Maureen Ct Jensen Beach, FL	2.0	1.0	780	$1,800	$2.31	14d	1	0.30mi
1617 NE Nautical Pl Jensen Beach, FL	2.0	2.0	961	$1,850	$1.93	14d	1	0.31mi
1411 NE 14th Ct #13 Jensen Beach, FL	2.0	2.0	1100	$3,000	$2.73	23d	1	0.38mi
1600 NE Dixie Hwy Unit 10-203 Jensen Beach, FL	2.0	2.0	1072	$2,300	$2.15	23d	1	0.55mi
2563 NE Palm Ave Jensen Beach, FL	2.0	2.0	950	$2,400	$2.53	23d	1	0.82mi
1097 NE Kubin Ave Jensen Beach, FL	2.0	1.5	952	$2,450	$2.57	23d	1	0.85mi
2459 NE Hickory Ave Jensen Beach, FL	1.0	1.0	736	$1,700	$2.31	23d	1	0.86mi
1001 NE Baker Rd Stuart, FL	1.0–3.0	1.0–2.0	952	$2,280	$2.40	14d	27	0.86mi
2952 NE Savannah Rd Jensen Beach, FL	3.0	2.0	1056	$3,000	$2.84	23d	1	0.91mi
2680 NE Indian River Dr Unit 9 Jensen Beach, FL	2.0	1.0	800	$2,100	$2.62	14d	1	0.96mi
2506 NE Heron's Walk Jensen Beach, FL	2.0	1.0	1000	$2,400	$2.40	23d	1	0.97mi
2646 NE Pelican Way Jensen Beach, FL	1.0	1.0	1000	$2,400	$2.40	23d	1	1.00mi
2632 NE Pelican Way Jensen Beach, FL	2.0	1.0	1000	$4,800	$4.80	23d	1	1.00mi
3111 NE Savannah Rd Jensen Beach, FL	2.0	1.0	1085	$1,995	$1.84	14d	1	1.01mi
3121 NE Savannah Rd Unit 3121 Jensen Beach, FL	3.0	1.0	1085	$2,095	$1.93	23d	1	1.02mi
3123 NE Savannah Rd Unit 3123 Jensen Beach, FL	3.0	2.0	1100	$2,195	$2.00	23d	1	1.03mi
297 NE Coastal DR #297 Jensen Beach, FL	2.0	2.0	1000	$3,000	$3.00	23d	1	1.09mi
25 NE 17th St Stuart, FL	3.0	2.0	990	$2,000	$2.02	23d	1	1.21mi
1398 NW Cavendish Ct Stuart, FL	2.0–3.0	2.5	1242	$2,393	$1.93	21d	11	1.38mi
3663 NE Barbara Dr Jensen Beach, FL	2.0	1.0	991	$2,450	$2.47	23d	1	1.48mi

HOA detail

• Monthly dues: $168 · $2,016/yr
• Likely covers: watersewerelectricpool

Listing history 18 events

1. 2026-06-18
   days on market $148,888 Active 112 DOM
2. 2026-06-17
   days on market $148,888 Active 111 DOM
3. 2026-06-16
   days on market $148,888 Active 110 DOM
4. 2026-06-15
   days on market $148,888 Active 109 DOM
5. 2026-06-14
   days on market $148,888 Active 107 DOM
6. 2026-06-13
   days on market $148,888 Active 106 DOM
7. 2026-06-10
   days on market $148,888 Active 104 DOM
8. 2026-06-09
   days on market $148,888 Active 103 DOM
9. 2026-06-08
   days on market $148,888 Active 102 DOM
10. 2026-06-07
    days on market $148,888 Active 101 DOM
11. 2026-06-03
    days on market $148,888 Active 97 DOM
12. 2026-06-02
    days on market $148,888 Active 96 DOM
13. 2026-06-01
    days on market $148,888 Active 95 DOM
14. 2026-05-31
    days on market $148,888 Active 94 DOM
15. 2026-05-31
    days on market $148,888 Active 93 DOM
16. 2026-04-19
    price $148,888 1187-char remark

    Show marketing remark (1187 chars)

    Refined Coastal Living — Brand New Construction with Ownership Advantages Welcome to little gem in the sought-after 55+ ocean-access community of Tropical Acres in Jensen Beach. This is true ownership within a co-op community — no lot rent — with remarkably low HOA dues of $168 each month, covering common areas, pool service, and reserves. This never-occupied residence delivers modern comfort with quality construction standards, including 200-amp electrical service, 8-foot ceilings, attic-distributed A/C ventilation, and a transferable home warranty for added peace of mind. An 8x10 storage shed, constructed to Martin County Wind Mitigation Code (Cat 3) standards and prepped for electrical service, adds practical convenience. The property is connected to city water and sewer, with a private well dedicated to irrigation. Residents also enjoy optional on-site RV and boat storage for $30 each month. Ideally positioned just moments from downtown Jensen Beach and minutes to the beach, this home offers the rare combination of coastal lifestyle, low-maintenance living, and true land ownership. All appliances are brand new. The home has never been lived in.

17. 2026-03-20
    price $149,997 1187-char remark

    Show marketing remark (1187 chars)

    Refined Coastal Living — Brand New Construction with Ownership Advantages Welcome to little gem in the sought-after 55+ ocean-access community of Tropical Acres in Jensen Beach. This is true ownership within a co-op community — no lot rent — with remarkably low HOA dues of $168 each month, covering common areas, pool service, and reserves. This never-occupied residence delivers modern comfort with quality construction standards, including 200-amp electrical service, 8-foot ceilings, attic-distributed A/C ventilation, and a transferable home warranty for added peace of mind. An 8x10 storage shed, constructed to Martin County Wind Mitigation Code (Cat 3) standards and prepped for electrical service, adds practical convenience. The property is connected to city water and sewer, with a private well dedicated to irrigation. Residents also enjoy optional on-site RV and boat storage for $30 each month. Ideally positioned just moments from downtown Jensen Beach and minutes to the beach, this home offers the rare combination of coastal lifestyle, low-maintenance living, and true land ownership. All appliances are brand new. The home has never been lived in.

18. 2026-02-26
    listed $159,876 Active 1187-char remark

    Show marketing remark (1187 chars)

    Refined Coastal Living — Brand New Construction with Ownership Advantages Welcome to little gem in the sought-after 55+ ocean-access community of Tropical Acres in Jensen Beach. This is true ownership within a co-op community — no lot rent — with remarkably low HOA dues of $168 each month, covering common areas, pool service, and reserves. This never-occupied residence delivers modern comfort with quality construction standards, including 200-amp electrical service, 8-foot ceilings, attic-distributed A/C ventilation, and a transferable home warranty for added peace of mind. An 8x10 storage shed, constructed to Martin County Wind Mitigation Code (Cat 3) standards and prepped for electrical service, adds practical convenience. The property is connected to city water and sewer, with a private well dedicated to irrigation. Residents also enjoy optional on-site RV and boat storage for $30 each month. Ideally positioned just moments from downtown Jensen Beach and minutes to the beach, this home offers the rare combination of coastal lifestyle, low-maintenance living, and true land ownership. All appliances are brand new. The home has never been lived in.

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 21 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: $25,899
• − Mortgage interest: −$8,340
• − Property taxes: −$2,233
• − Insurance: −$744
• − Repairs & maintenance: −$2,072
• − Management: −$2,072
• − HOA: −$2,016
• − Depreciation: −$4,331
• Taxable income: $4,090
• Est. tax owed @ 24.0%: −$982
• After-tax cash flow: $5,115/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

Excellent 95/100 None rehab

This home is in excellent condition with no visible repairs needed. It offers a modern and well-maintained living space, making it an attractive option for both resale and rental.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Updating the flooring in the kitchen and bathrooms — New flooring can improve the overall look and feel of the home.
• Both Upgrading the kitchen appliances — Modern appliances can increase the home's appeal and functionality.
• Both Adding smart home features — Smart home features can enhance convenience and energy efficiency, making the home more attractive to buyers and renters.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and add value to the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Updating the flooring in the kitchen and bathrooms — New flooring can improve the overall look and feel of the home. ↑
• Both Upgrading the kitchen appliances — Modern appliances can increase the home's appeal and functionality. ↑
• Both Adding smart home features — Smart home features can enhance convenience and energy efficiency, making the home more attractive to buyers and renters. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and add value to the property. ↑

ⓘ 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 — Jensen Beach

• Score: 70/100
• State rank: #432
• US rank: #7719

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jensen Beach, FL
• County: Martin County · 165,223 people
• City population: 23,462
• Metro: Port St. Lucie, FL
• Population (ZIP): 23,462
• Household income: $70,403
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 946.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 6% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 2% Tagalog/Filipino 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: ▼ -319.66%
• Current HPI: 340.0172
• Rent YoY: ▲ 1.00%
• 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

-6.9% since first listed

3 events — show timeline

• 2026-04-19 Price Changed $148,888 Stellar MLS as Distributed by MLS Grid
• 2026-03-20 Price Changed $149,997 Stellar MLS as Distributed by MLS Grid
• 2026-02-26 Listed $159,876 Stellar MLS as Distributed by MLS Grid