2609 Shoma Dr · Royal Palm Beach, FL 33414

$329,900

4 bd · 3.5 ba · 1,988 sqft · Condo public records · 7 Days on market

Built 2006 $528/mo HOA · 15% of rent

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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 +12.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• DSCR +3.6/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This end unit townhouse with attached garage has one bedroom and one bathroom on ground level, tiled floors for the living areas on second floor and 3 bedrooms with 2 bathrooms on third floor. Plenty of sqft. Only one building from the clubhouse and pool. Ready for new owner. Located in gated community close to everything.

Key facts

• Gated community
• $528 HOA
• Garage

Tags

• GATED COMMUNITY

Property features AI

Finance

• Other: Pets not allowed
• Financial info: Monthly association fee: $528
• HOA & community: Homeowners association with monthly fee; HOA covers common areas and roof repairs; Association amenities: Other

Exterior

• Parking: Attached garage (1 covered space); Total 2 parking spaces; Guest parking available
• Security: Smoke detector(s); Gated (no guard)
• Utilities: Public water; Public sewer; Electricity available; Sewer available; Water available
• Home design: Condominium; Multi/split levels; Resale property; Faces north
• Construction: Built with CBS construction materials; Metal roof; Three stories
• Exterior features: Entry-level living area; Not waterfront

Interior

• Kitchen: Dishwasher; Refrigerator; Electric water heater
• Bedrooms: One bedroom on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: Three full bathrooms and one half bathroom (four total); One bathroom on the main level
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Entrance foyer; Walk-in closet(s); Stacked bedroom layout
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath condo listed at $330k.

Deal economics

• At list price, monthly cash flow is $-143 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $305k (7.7% below list).
• Meets the 1% rule at list price ($3k rent vs $330k).
• Recommended offer: $305k (7.7% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 79/100 on livability (#135 in FL, #2,039 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living C-, amenities F, commute 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: Everglades Elementary (math 70% / reading 74%, grade A-, #288 of 2,144 statewide, top 15%, 888 students, 34% FRL); Emerald Cove Middle School (math 61% / reading 64%, grade B+, #116 of 571 statewide, top 21%, 1,241 students, 36% FRL); Palm Beach Central High School (math 42% / reading 55%, grade D, #198 of 667 statewide, top 30%, 2,980 students, 40% FRL) — zoned schools average 36% FRL vs 52% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.3%/yr); 616 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 37% of the median local income ($112k/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 $2k of loan paydown is wiped out by about $10k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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.
• Current owner paid $150k; list at $330k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $304,566 (7.7% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.05% ✓
• Cap rate: 6.01%
• Cash-on-cash: -1.00%
• DSCR: 0.96
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: -20.2%
• Equity multiple: 0.30×
• Total profit: $-64,560
• Equity at exit: $49,189

10-year hold

• IRR: -14.9%
• Equity multiple: 0.18×
• Total profit: $-75,937
• Equity at exit: $28,524

Cash invested: $92,372 (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 33414

• Home prices YoY: -30.2%
• Rents YoY: 2.3%
• Active inventory: 616
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $3,468 high
• Mortgage (P&I): −$1,730
• Tax from tax record: −$421 /mo · $5,053/yr
• Insurance: −$137
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$528
• Vacancy / Maint / Mgmt: −$728
• Net cashflow: $-143

Break-even live

Break-even rent $3,649

Max offer price $304,566

Occupancy floor 99%

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3308 Shoma Dr Royal Palm Beach, FL	4.0	3.5	1988	$2,500	$1.26	5d	1	0.02mi
3308 Shoma Dr Royal Palm Beach, FL	4.0	3.5	1988	$2,500	$1.26	24d	1	0.02mi
3515 Shoma Dr Unit 3515 West Palm Beach, FL	3.0	3.5	1815	$3,250	$1.79	24d	1	0.03mi
3808 Shoma Dr Unit 3808 West Palm Beach, FL	3.0	3.0	2300	$2,300	$1.00	24d	1	0.03mi
3106 Shoma Dr Royal Palm Beach, FL	4.0	3.5	1988	$4,000	$2.01	3d	1	0.03mi
3106 Shoma Dr Royal Palm Beach, FL	4.0	3.5	1988	$3,900	$1.96	24d	1	0.03mi
2405 Shoma Dr Royal Palm Beach, FL	3.0	3.5	1932	$2,375	$1.23	3d	1	0.03mi
2108 Shoma Dr Royal Palm Beach, FL	3.0	2.0	1457	$2,400	$1.65	24d	1	0.06mi
147 Kensington Way Royal Palm Beach, FL	4.0	2.5	2536	$4,000	$1.58	24d	1	0.18mi
570 Christina Dr Royal Palm Beach, FL	1.0–3.0	1.0–2.0	1044	$2,862	$2.74	1d	10	0.25mi
11300 Channing Ln Unit 102 Royal Palm Beach, FL	3.0	2.0	2111	$4,299	$2.04	24d	1	0.39mi
1451 Pioneer Way Royal Palm Beach, FL	3.0	2.5	1900	$4,750	$2.50	22d	1	0.41mi
116 Hamilton Ter Royal Palm Beach, FL	4.0	2.5	2537	$3,300	$1.30	3d	1	0.42mi
116 Hamilton Ter Royal Palm Beach, FL	4.0	2.5	2537	$3,500	$1.38	15d	1	0.42mi
9433 Madewood Ct Royal Palm Beach, FL	4.0	2.0	2616	$5,350	$2.05	24d	1	0.45mi
640 Pioneer Way Unit 640 Royal Palm Beach, FL	3.0	2.5	1557	$3,100	$1.99	24d	1	0.46mi
11260 Channing Way Unit 212 Royal Palm Beach, FL	3.0	2.0	1417	$3,174	$2.24	24d	1	0.47mi
113 Canterbury Pl Royal Palm Beach, FL	4.0	2.5	2267	$3,500	$1.54	24d	1	0.48mi
113 Canterbury Pl Royal Palm Beach, FL	4.0	2.5	2267	$3,500	$1.54	5d	1	0.48mi
220 Pioneer Way Royal Palm Beach, FL	3.0	2.5	1557	$3,200	$2.06	7d	1	0.50mi
137 Canterbury Pl Royal Palm Beach, FL	3.0	2.5	1856	$3,500	$1.89	24d	1	0.52mi
169 Berenger Walk Royal Palm Beach, FL	4.0	2.5	2262	$3,750	$1.66	24d	1	0.59mi
175 Berenger Walk Royal Palm Beach, FL	4.0	2.5	2204	$3,600	$1.63	24d	1	0.62mi
1090 Quaye Lake Cir Wellington, FL	3.0	3.0	1719	$3,513	$2.04	15d	1	0.64mi
11200 Nicole Dr Wellington, FL	1.0–4.0	1.0–3.5	1404	$4,443	$3.16	2d	33	0.66mi
625 Whippoorwill Ter West Palm Beach, FL	3.0	2.0	1914	$4,500	$2.35	24d	1	0.75mi
217 Berenger Walk Royal Palm Beach, FL	3.0	2.5	2204	$3,000	$1.36	17d	1	0.80mi
11020 Town Cir Wellington, FL	1.0–3.0	1.0–2.0	1013	$3,143	$3.10	1d	14	0.85mi
176 Bellezza Ter Royal Palm Beach, FL	4.0	2.5	2058	$3,350	$1.63	11d	1	1.08mi
699 Belle Grove Ln Royal Palm Beach, FL	3.0	2.0	1849	$3,500	$1.89	24d	1	1.14mi
1592 Carriage Brooke Dr Wellington, FL	3.0	2.0	1662	$3,000	$1.81	24d	1	1.15mi
8694 Pioneer Rd West Palm Beach, FL	4.0	3.0	2000	$3,500	$1.75	18d	1	1.20mi
10793 Oak Bend Way Wellington, FL	4.0	2.5	1852	$4,000	$2.16	11d	1	1.29mi
1664 Oak Berry Cir Wellington, FL	3.0	2.0	1325	$3,650	$2.75	24d	1	1.32mi
1019 Larch Way Wellington, FL	4.0	2.0	2125	$4,000	$1.88	24d	1	1.37mi
930 Rambling Drive Cir Wellington, FL	3.0	2.5	2440	$7,950	$3.26	24d	1	1.37mi
10726 Pelican Dr Wellington, FL	3.0	2.0	1482	$3,500	$2.36	24d	1	1.39mi
10569 Pelican Dr Wellington, FL	4.0	3.5	1843	$3,450	$1.87	14d	1	1.41mi
11297 Pine Valley Dr Wellington, FL	3.0	2.0	1705	$3,500	$2.05	24d	1	1.41mi
1104 Jackpine St Unit (off-season) Wellington, FL	3.0	2.0	1760	$3,500	$1.99	24d	1	1.41mi

HOA detail condo

• Monthly dues: $528 · $6,336/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-20
   historical $2,600
2. 2026-05-15
   status Pending
3. 2026-05-08
   listed $329,900 Active
4. 2026-04-30
   listed $2,600
5. 2015-09-23
   soldstatus $150,000 Closed 324-char remark

   Show marketing remark (324 chars)

   This end unit townhouse with attached garage has one bedroom and one bathroom on ground level, tiled floors for the living areas on second floor and 3 bedrooms with 2 bathrooms on third floor. Plenty of sqft. Only one building from the clubhouse and pool. Ready for new owner. Located in gated community close to everything.

6. 2015-08-21
   status Pending 324-char remark

   Show marketing remark (324 chars)

   This end unit townhouse with attached garage has one bedroom and one bathroom on ground level, tiled floors for the living areas on second floor and 3 bedrooms with 2 bathrooms on third floor. Plenty of sqft. Only one building from the clubhouse and pool. Ready for new owner. Located in gated community close to everything.

7. 2015-08-04
   listed $140,400 Active 324-char remark

   Show marketing remark (324 chars)

   This end unit townhouse with attached garage has one bedroom and one bathroom on ground level, tiled floors for the living areas on second floor and 3 bedrooms with 2 bathrooms on third floor. Plenty of sqft. Only one building from the clubhouse and pool. Ready for new owner. Located in gated community close to everything.

ⓘ 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: $5,053 · $421/mo
• Projected year-2 tax: $5,053 · $421/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 25 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: $41,615
• − Mortgage interest: −$18,480
• − Property taxes: −$5,053
• − Insurance: −$2,447
• − Repairs & maintenance: −$3,329
• − Management: −$3,329
• − HOA: −$6,336
• − Depreciation: −$9,597
• Taxable loss: −$6,956
• Est. tax savings @ 24.0%: +$1,670
• After-tax cash flow: $-51/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 — Royal Palm Beach

• Score: 79/100
• State rank: #135
• US rank: #2039

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Royal Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 75,299
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 60,184
• Household income: $112,241
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 1566.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 47% Hispanic / Latino 29% Two or more races 20% Black 13% Asian 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Cuban 6% Dominican 1% Salvadoran 1%
• Common ancestry: Hispanic 4% Romanian 3% Lithuanian 2%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 67% English-only · Spanish 23% French/Haitian/Cajun 3% Other Indo-European 3%

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: ▼ -152.58%
• Current HPI: 352.9366
• Rent YoY: ▲ 2.31%
• 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

-98.1% since first listed

7 events — show timeline

• 2026-05-20 Rental Removed $2,600 GFLMLS
• 2026-05-15 Pending — Beaches MLS
• 2026-05-08 Listed $329,900 Beaches MLS
• 2026-04-30 Listed for Rent $2,600 GFLMLS
• 2015-09-23 Sold (MLS) $150,000 Beaches MLS
• 2015-08-21 Pending — Beaches MLS
• 2015-08-04 Listed $140,400 Beaches MLS

Property tax history

+8.2%/yr

Latest (2025): $5,053 · +2.6% YoY. Source: county tax records.