309 Greymon Dr · West Palm Beach, FL 33405

$860,000

4 bd · 4.5 ba · 3,647 sqft · Land · 52 Days on market

Built 2026 6,350 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Cash flow +2.1/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 309 Greymon, an exceptional, fully gated oasis offering unmatched luxury and privacy in every detail. This 3,647 sq ft all concrete block modern residence features four spacious bedrooms and 4.5 beautifully appointed baths, thoughtfully designed for effortless living and sophisticated entertaining. Step inside to soaring 10-foot ceilings, arched doorways, and an inviting gas fireplace that sets the tone for refined comfort. The custom chef's kitchen showcases premium finishes throughout, while a discreet mud door adds everyday convenience. Expansive bifold doors seamlessly blend indoor and outdoor living, opening to the resort-style pool area. Indulge in wellness at home with a steam room, outdoor shower, and a heated saltwater pool and spa, all surrounded by lush, meticulously designed landscaping. The outdoor experience continues with a full outdoor kitchen, perfect for hosting gatherings in a private paradise. The second floor reveals a beautiful oversized balcony, ideal for relaxing or entertaining with serene views of the grounds. Additional highlights include an indoor/outdoor sound system, full LED camera security system, and ample parking with a one-car garage plus a four-car driveway. A blend of elegance and comfort, 309 Greymon is a rare opportunity to own a truly compound-like property just moments from everything. Move-in ready and unforgettable.

Key facts

• Turnkey home
• Private backyard
• Large balcony

Tags

• TURNKEY HOME
• OUTDOOR KITCHEN
• HEATED SALTWATER POOL
• PRIVATE BACKYARD
• BIFOLD DOORS
• LARGE BALCONY

Property features AI

Finance

• Other: Pets allowed with no restrictions

Exterior

• Parking: Attached 1-car garage; 1 covered parking space; 4 open parking spaces
• Utilities: Public water; Public sewer; Water and sewer available; Electric service
• Home design: Single family residence; New construction; 2 stories; Faces south
• Construction: CBS construction; Tile roof; Built as new construction
• Exterior features: Private in-ground pool; Entry-level living area; Not waterfront

Interior

• Kitchen: Disposal; Dishwasher; Gas range
• Bedrooms: No main-level bedrooms
• Flooring: Marble floors; Wood floors
• Bathrooms: 4 full bathrooms; 1 half bathroom (5 total)
• Heating & cooling: Central electric heating; Central air conditioning (electric)
• Interior features: High ceilings; Kitchen island; Walk-in closets; Split bedroom layout; Decorative fireplace; Unfurnished
• Laundry & utility: Indoor laundry

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/4.5-bath land listed at $860k.

Deal economics

• At list price, monthly cash flow is $-3k ($-38k/yr) — negative.
• To cash-flow at today's rent, offer at most $344k (60.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $400k (53.5% below list).
• Recommended offer: $344k (60.0% below list) — sets the bar for cash-flow.
• Cap rate 1.9% vs local median 3.8% in West Palm Beach — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 82/100 on livability (#75 in FL, #1,255 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, crime F.
• Palm Beach (suburban): math 46% / reading 53% proficiency, ranked #34 of 73 in FL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Palm Beach Public School (math 67% / reading 72%, grade A-, #364 of 2,144 statewide, top 19%, 375 students, 35% FRL); Forest Hill Community High School (math 20% / reading 41%, grade F, #434 of 667 statewide, top 66%, 2,407 students, 66% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents rising (+3.4%/yr); 212 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $3,997/mo this rent would consume 55% of the median local household income ($87k/yr) (locally 1055% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $26k of value loss. Plan a longer hold.
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($834k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $344,257 (60.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 60% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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?
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: 0.46% ✗
• Cap rate: 1.90%
• Cash-on-cash: -15.67%
• DSCR: 0.30
• GRM: 17.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.44% rent growth · sell at horizon

5-year hold

• IRR: -46.1%
• Equity multiple: -0.40×
• Total profit: $-337,602
• Equity at exit: $128,229

10-year hold

• IRR: -82.2%
• Equity multiple: -1.26×
• Total profit: $-543,399
• Equity at exit: $74,357

Cash invested: $240,800 (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 33405

• Rents YoY: 3.4%
• Active inventory: 212
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $3,997 medium
• Mortgage (P&I): −$4,510
• Tax from tax record: −$1,434 /mo · $17,213/yr
• Insurance: −$358
• HOA: −$0
• Vacancy / Maint / Mgmt: −$839
• Net cashflow: $-3,145

Break-even live

Break-even rent $7,978

Max offer price $344,257

Occupancy floor —

Sensitivity live

Price	-10% $-2,658	-5% $-2,902	+0% $-3,145	+5% $-3,388	+10% $-3,632
Rent	-10% $-3,461	-5% $-3,303	+0% $-3,145	+5% $-2,987	+10% $-2,829
Rate	-1.0pp $-2,712	-0.5pp $-2,926	base $-3,145	+0.5pp $-3,368	+1.0pp $-3,595

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: $215,000
• Closing costs: $25,800
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3663 Vintage Way West Palm Beach, FL	3.0	3.5	3013	$4,850	$1.61	25d	1	0.23mi
3901 S Flagler Dr West Palm Beach, FL	2.0–5.0	2.0–5.0	2266	$9,000	$3.97	3d	6	0.46mi
3901 S Flagler Dr West Palm Beach, FL	2.0–5.0	2.0–5.0	2266	$9,167	$4.05	22d	6	0.46mi
4210 Washington Rd West Palm Beach, FL	4.0	4.0	2692	$12,000	$4.46	25d	1	0.59mi
136 Worth Ct S West Palm Beach, FL	3.0	3.5	2690	$21,500	$7.99	25d	1	0.72mi
210 Russlyn Dr West Palm Beach, FL	3.0	2.0	2653	$8,000	$3.02	25d	1	0.83mi
746 Upland Rd West Palm Beach, FL	3.0	2.5	2672	$17,000	$6.36	18d	1	0.86mi
710 Claremore Dr West Palm Beach, FL	4.0	4.0	2920	$12,450	$4.26	25d	1	0.93mi
727 Claremore Dr West Palm Beach, FL	4.0	3.0	2469	$13,500	$5.47	22d	1	0.98mi
247 Plymouth Rd West Palm Beach, FL	4.0	3.0	2908	$8,500	$2.92	25d	1	1.04mi
117 Via Vizcaya Palm Beach, FL	4.0	3.5	3116	$48,000	$15.40	25d	1	1.08mi
750 S County Rd Palm Beach, FL	4.0	4.0	3389	$62,500	$18.44	25d	1	1.18mi
200 Arkona Ct #804 West Palm Beach, FL	3.0	3.5	2992	$29,000	$9.69	8d	1	1.22mi
382 Ellamar Rd West Palm Beach, FL	4.0	2.0	2580	$4,000	$1.55	25d	1	1.35mi
1333 S Flagler Dr Unit 1502 West Palm Beach, FL	4.0	4.5	4436	$95,000	$21.42	25d	1	1.37mi
1333 S Flagler Dr Unit 1002 West Palm Beach, FL	4.0	4.5	4400	$60,000	$13.64	25d	1	1.37mi
135 Churchill Rd West Palm Beach, FL	5.0	4.5	3690	$35,000	$9.49	25d	1	1.40mi

Listing history 23 events

1. 2026-06-18
   days on market $860,000 Active 52 DOM
2. 2026-06-17
   days on market $860,000 Active 51 DOM
3. 2026-06-16
   days on market $860,000 Active 50 DOM
4. 2026-06-15
   days on market $860,000 Active 49 DOM
5. 2026-06-13
   days on market $860,000 Active 47 DOM
6. 2026-06-09
   days on market $860,000 Active 43 DOM
7. 2026-06-08
   days on market $860,000 Active 42 DOM
8. 2026-06-07
   days on market $860,000 Active 41 DOM
9. 2026-06-04
   days on market $860,000 Active 38 DOM
10. 2026-06-03
    days on market $860,000 Active 37 DOM
11. 2026-06-02
    days on market $860,000 Active 36 DOM
12. 2026-06-01
    days on market $860,000 Active 35 DOM
13. 2026-05-31
    days on market $860,000 Active 34 DOM
14. 2026-04-27
    listed $860,000 Active
15. 2026-03-27
    soldstatus $5,050,000 Closed 1396-char remark

    Show marketing remark (1396 chars)

    Welcome to 309 Greymon, an exceptional, fully gated oasis offering unmatched luxury and privacy in every detail. This 3,647 sq ft all concrete block modern residence features four spacious bedrooms and 4.5 beautifully appointed baths, thoughtfully designed for effortless living and sophisticated entertaining. Step inside to soaring 10-foot ceilings, arched doorways, and an inviting gas fireplace that sets the tone for refined comfort. The custom chef's kitchen showcases premium finishes throughout, while a discreet mud door adds everyday convenience. Expansive bifold doors seamlessly blend indoor and outdoor living, opening to the resort-style pool area. Indulge in wellness at home with a steam room, outdoor shower, and a heated saltwater pool and spa, all surrounded by lush, meticulously designed landscaping. The outdoor experience continues with a full outdoor kitchen, perfect for hosting gatherings in a private paradise. The second floor reveals a beautiful oversized balcony, ideal for relaxing or entertaining with serene views of the grounds. Additional highlights include an indoor/outdoor sound system, full LED camera security system, and ample parking with a one-car garage plus a four-car driveway. A blend of elegance and comfort, 309 Greymon is a rare opportunity to own a truly compound-like property just moments from everything. Move-in ready and unforgettable.

16. 2026-01-31
    historical Active Under Contract 1396-char remark

    Show marketing remark (1396 chars)

    Welcome to 309 Greymon, an exceptional, fully gated oasis offering unmatched luxury and privacy in every detail. This 3,647 sq ft all concrete block modern residence features four spacious bedrooms and 4.5 beautifully appointed baths, thoughtfully designed for effortless living and sophisticated entertaining. Step inside to soaring 10-foot ceilings, arched doorways, and an inviting gas fireplace that sets the tone for refined comfort. The custom chef's kitchen showcases premium finishes throughout, while a discreet mud door adds everyday convenience. Expansive bifold doors seamlessly blend indoor and outdoor living, opening to the resort-style pool area. Indulge in wellness at home with a steam room, outdoor shower, and a heated saltwater pool and spa, all surrounded by lush, meticulously designed landscaping. The outdoor experience continues with a full outdoor kitchen, perfect for hosting gatherings in a private paradise. The second floor reveals a beautiful oversized balcony, ideal for relaxing or entertaining with serene views of the grounds. Additional highlights include an indoor/outdoor sound system, full LED camera security system, and ample parking with a one-car garage plus a four-car driveway. A blend of elegance and comfort, 309 Greymon is a rare opportunity to own a truly compound-like property just moments from everything. Move-in ready and unforgettable.

17. 2026-01-22
    listed $5,250,000 Active 1396-char remark

    Show marketing remark (1396 chars)

    Welcome to 309 Greymon, an exceptional, fully gated oasis offering unmatched luxury and privacy in every detail. This 3,647 sq ft all concrete block modern residence features four spacious bedrooms and 4.5 beautifully appointed baths, thoughtfully designed for effortless living and sophisticated entertaining. Step inside to soaring 10-foot ceilings, arched doorways, and an inviting gas fireplace that sets the tone for refined comfort. The custom chef's kitchen showcases premium finishes throughout, while a discreet mud door adds everyday convenience. Expansive bifold doors seamlessly blend indoor and outdoor living, opening to the resort-style pool area. Indulge in wellness at home with a steam room, outdoor shower, and a heated saltwater pool and spa, all surrounded by lush, meticulously designed landscaping. The outdoor experience continues with a full outdoor kitchen, perfect for hosting gatherings in a private paradise. The second floor reveals a beautiful oversized balcony, ideal for relaxing or entertaining with serene views of the grounds. Additional highlights include an indoor/outdoor sound system, full LED camera security system, and ample parking with a one-car garage plus a four-car driveway. A blend of elegance and comfort, 309 Greymon is a rare opportunity to own a truly compound-like property just moments from everything. Move-in ready and unforgettable.

18. 2024-05-03
    price $1,600,000
19. 2024-05-02
    historical
20. 2024-04-03
    price $1,300,000
21. 2024-03-27
    listed $1,600,000 Active
22. 2023-11-01
    soldstatus $1,350,000
23. 1998-12-29
    soldstatus $37,500

ⓘ 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: $17,213 · $1,434/mo
• Projected year-2 tax: $17,213 · $1,434/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 4/10 Moderate FEMA zone X (unshaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 26 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: $47,965
• − Mortgage interest: −$48,173
• − Property taxes: −$17,213
• − Insurance: −$4,300
• − Repairs & maintenance: −$3,837
• − Management: −$3,837
• − Depreciation: −$25,018
• Taxable loss: −$54,413
• Est. tax savings @ 24.0%: +$13,059
• After-tax cash flow: $-24,680/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: Palm Beach
• NCES district ID: 1201500
• Math proficiency: 46% ▼ -16.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $53,943
• Composite: 42.72/100
• National rank: #3160
• State rank: #34 of 73 in FL

Livability — West Palm Beach

• Score: 82/100
• State rank: #75
• US rank: #1255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 19,780
• Household income: $87,341
• Rent vs Own: 43.7% rent · 56.3% own
• Severe rent burden: 1055.0

Population outlook (Palm Beach County) Hauer SSP2

• Today (2025): 1,637,487 people
• By 2030: 1,743,255 · +6.5%
• By 2040: 1,948,712 · +19.0%
• By 2050: 2,132,979 · +30.3%
• By 2075: 2,530,027 · +54.5%
• By 2100: 2,706,979 · +65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (51%)
• Race & ethnicity: Hispanic / Latino 51% White 44% Two or more races 24% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 5% Cuban 17% Dominican 2%
• Common ancestry: Scotch-Irish 2% Slovak 2% Romanian 2%
• Foreign-born: 37% · Canada, Guatemala, Jamaica
• Languages at home: 50% English-only · Spanish 44% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Palm Beach

• 2024 margin: Toss-up / Even · D 50.0% · R 49.2%
• 2008→2024 swing: -22.1pp toward R · 2008: 22.9pp · 2024: 0.8pp
• All cycles: 2024: D+0.8 2020: D+12.8 2016: D+15.3 2012: D+17.0 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -662.68%
• Current HPI: 509.781
• Rent YoY: ▲ 3.44%
• Metro: Miami-Fort Lauderdale-Pompano Beach, 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

+2193.3% since first listed

10 events — show timeline

• 2026-04-27 Listed $860,000 Beaches MLS
• 2026-03-27 Sold (MLS) $5,050,000 Beaches MLS
• 2026-01-31 Contingent — Beaches MLS
• 2026-01-22 Listed $5,250,000 Beaches MLS
• 2024-05-03 Price Changed $1,600,000 Beaches MLS
• 2024-05-02 Listing Removed — Beaches MLS
• 2024-04-03 Price Changed $1,300,000 Beaches MLS
• 2024-03-27 Listed $1,600,000 Beaches MLS
• 2023-11-01 Sold (Public Records) $1,350,000 Public Records
• 1998-12-29 Sold (Public Records) $37,500 Public Records

Property tax history

+18.4%/yr

Latest (2025): $17,213 · +12.3% YoY. Source: county tax records.