2641 W Gately Dr W W #906 · Greenacres, FL 33415

$130,000

3 bd · 2.5 ba · 1,303 sqft · Condo public records · 84 Days on market

Built 1987 $532/mo HOA · 24% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

UNUSUALLY WELL CARED FOR UNIT THAT HAS HAD ONLY LIGHT SEASONAL USE. EVERYTHING IS IN FABULOUS CONDITION. 18 IN. OFFWHITE TILE ON FIRST FL. BEAUTIFUL, INVITING VIEW OF GARDEN FROM LIVING ROOM. PATIO CLOSED IN WITH EXPENSIVE, SMOOTH SLIDING, "PICTURE WINDOW" TYPE DOORS THIS IS A RARE COTTONWOOD II MODEL THAT WAS ORIGINALLY DESIGNED FOR A THREE BEDROOM UNIT. THEREFORE UNIT HAS LOTS OF STORAGE, LARGE BEDROOMS AND A HUGE MASTERBATHWHERE OWNER HAD A TOP OF THE LINE SAUNA INSTALLED.

Key facts

• $532 HOA
• 2 parking spots
• Community pool

Property features AI

Finance

• Other: Living area reported from public records; Senior community
• Financial info: Not a land lease; Pets allowed with breed restrictions
• HOA & community: Homeowners association with monthly fee; Association amenities include billiard room, game room, parking, pool, shuffleboard court, tennis courts, library, sidewalks, and street lights; HOA fee is collected monthly and includes cable TV, grounds maintenance, pest control, trash, water, common areas, and common real estate tax

Exterior

• Parking: 2 total parking spaces; Asphalt parking surface
• Security: No specific security features listed
• Utilities: Public water; Public sewer; Cable available; Electricity available; Phone available; Water connected
• Home design: Townhouse; Two levels; Resale property; North-facing
• Construction: Concrete block construction with stucco; Shingle roof; 2-story building
• Exterior features: Covered patio; Screened patio; Patio; Paved road access; Not waterfront

Interior

• Kitchen: Electric water heater; Dishwasher; Microwave; Refrigerator
• Bedrooms: No main-level bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms and 1 half bathroom (3 total), with one half bath on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No notable interior features listed
• Laundry & utility: Laundry: Other (unspecified)

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $445 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#490 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, 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: Forest Hill Elementary School (math 47% / reading 50%, grade D, #1,152 of 2,144 statewide, top 55%, 876 students, 72% FRL); Okeeheelee Middle School (math 34% / reading 40%, grade F, #399 of 571 statewide, top 71%, 1,377 students, 68% FRL) — zoned schools average 70% FRL vs 52% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.6%/yr); 314 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 44% of the median local income ($61k/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 $899 of loan paydown is wiped out by about $4k 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 84 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y ago; this cycle's ask has dropped $40k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• 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 $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% 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. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.72% ✓
• Cap rate: 10.40%
• Cash-on-cash: 14.65%
• DSCR: 1.65
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $980
• Equity at exit: $19,383

10-year hold

• IRR: 5.9%
• Equity multiple: 1.36×
• Total profit: $13,152
• Equity at exit: $11,240

Cash invested: $36,400 (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 33415

• Rents YoY: -1.6%
• Active inventory: 314
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,239 high
• Mortgage (P&I): −$682
• Tax from tax record: −$56 /mo · $676/yr
• Insurance: −$54
• HOA: −$532
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $445

Break-even live

Break-even rent $1,676

Max offer price $130,000

Occupancy floor 75%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
629 Sea Pine Way Unit D3 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	22d	1	0.07mi
628 Sea Pine Way Unit A2 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	16d	1	0.07mi
5775 Fernley Dr W #131 West Palm Beach, FL	2.0	2.0	1072	$2,000	$1.87	11d	1	0.13mi
2641 Gately Dr W West Palm Beach, FL	2.0–3.0	2.5	1238	$2,200	$1.78	24d	2	0.18mi
633 Sea Pine Way Unit C Greenacres, FL	2.0	2.0	1370	$2,450	$1.79	24d	1	0.18mi
813 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1111	$1,725	$1.55	14d	1	0.22mi
813 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1111	$1,725	$1.55	2d	1	0.22mi
826 Sky Pine Way Greenacres, FL	2.0–3.0	2.0	1304	$2,500	$1.92	12d	2	0.25mi
817 Sky Pine Way Unit H Greenacres, FL	2.0	2.0	1370	$2,300	$1.68	16d	1	0.26mi
2625 Emory Dr W Unit F West Palm Beach, FL	2.0	2.0	895	$1,700	$1.90	24d	1	0.28mi
802 Sky Pine Way Unit E2 Greenacres, FL	2.0	2.0	1111	$1,750	$1.58	7d	1	0.29mi
5725 Fernley Dr E #65 West Palm Beach, FL	2.0	2.0	1300	$1,575	$1.21	22d	1	0.30mi
616 Sea Pine Way Unit C3 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	24d	1	0.31mi
5780 Fernley Dr W #91 West Palm Beach, FL	2.0	2.0	1324	$2,000	$1.51	24d	1	0.32mi
811 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1064	$1,550	$1.46	20d	1	0.32mi
703 Sunny Pine Way Unit G2 Greenacres, FL	2.0	2.0	1068	$2,000	$1.87	15d	1	0.33mi
812 Sky Pine Way Greenacres, FL	2.0	2.0	1064	$2,100	$1.97	24d	1	0.34mi
6043 10th Ave N #130 Greenacres, FL	3.0	2.0	1500	$2,300	$1.53	24d	1	0.35mi
6506 Dockside Cir Greenacres, FL	2.0	2.5	1226	$2,000	$1.63	7d	1	0.36mi
4901 Pier Dr Greenacres, FL	3.0	2.5	1260	$2,400	$1.90	22d	1	0.37mi
6115 Seven Springs Blvd Greenacres, FL	2.0	2.5	1325	$2,475	$1.87	5d	1	0.38mi
6115 Seven Springs Blvd Greenacres, FL	2.0	2.5	1325	$2,500	$1.89	18d	1	0.38mi
2515 Emory Dr W Unit A West Palm Beach, FL	2.0	2.0	895	$1,700	$1.90	2d	1	0.38mi
2515 Emory Dr W Unit A West Palm Beach, FL	2.0	2.0	895	$1,750	$1.96	24d	1	0.38mi
6031 10th Ave N #219 Greenacres, FL	3.0	2.0	1078	$2,400	$2.23	4d	1	0.38mi
527 Shady Pine Way Greenacres, FL	2.0	2.0	1115	$2,025	$1.82	11d	2	0.39mi
6134 Seven Springs Blvd Unit 40d Greenacres, FL	3.0	3.0	1321	$2,400	$1.82	3d	1	0.40mi
511 Shady Pine Way Unit D2 Greenacres, FL	2.0	2.0	1115	$2,200	$1.97	4d	1	0.42mi
511 Shady Pine Way Unit D2 Greenacres, FL	2.0	2.0	1115	$2,200	$1.97	24d	1	0.42mi
712 Sunny Pine Way Greenacres, FL	2.0	2.0	1068	$2,150	$2.01	24d	1	0.42mi
5668 Albert Rd West Palm Beach, FL	3.0	2.0	1293	$3,800	$2.94	17d	1	0.44mi
3604 Inlet Cir Greenacres, FL	2.0	2.5	1274	$2,100	$1.65	24d	1	0.44mi
508 Shady Pine Way Unit D1 Greenacres, FL	2.0	2.0	1115	$1,850	$1.66	22d	1	0.44mi
502 Shady Pine Way Unit D2 Greenacres, FL	2.0	1.0	991	$1,950	$1.97	24d	1	0.45mi
703 Sunny Pine Way Greenacres, FL	2.0	2.0	1068	$1,900	$1.78	24d	2	0.46mi
6049 Olivewood Cir Greenacres, FL	2.0	2.0	1377	$2,200	$1.60	24d	1	0.46mi
504 Shady Pine Way Unit 2 Greenacres, FL	2.0	2.0	1111	$2,000	$1.80	24d	1	0.49mi
726 Sunny Pine Way Unit B2 Greenacres, FL	3.0	2.0	1254	$2,200	$1.75	4d	1	0.49mi
2404 Seaside Dr Greenacres, FL	2.0	2.5	1260	$2,350	$1.87	24d	1	0.50mi
724 Sunny Pine Way Unit D2 Greenacres, FL	2.0	2.0	1111	$1,950	$1.76	24d	1	0.51mi

HOA detail condo

• Monthly dues: $532 · $6,384/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $130,000 Active 84 DOM
2. 2026-06-17
   days on market $130,000 Active 83 DOM
3. 2026-06-16
   days on market $130,000 Active 82 DOM
4. 2026-06-15
   days on market $130,000 Active 81 DOM
5. 2026-06-13
   days on market $130,000 Active 79 DOM
6. 2026-06-09
   days on market $130,000 Active 75 DOM
7. 2026-06-08
   days on market $130,000 Active 74 DOM
8. 2026-06-07
   statusdays on market $130,000 Active 73 DOM
9. 2026-06-04
   days on market $130,000 Active Under Contract 70 DOM
10. 2026-06-03
    days on market $130,000 Active Under Contract 69 DOM
11. 2026-06-02
    days on market $130,000 Active Under Contract 68 DOM
12. 2026-06-01
    days on market $130,000 Active Under Contract 67 DOM
13. 2026-06-01
    status $130,000 Active Under Contract 66 DOM
14. 2026-05-31
    days on market $130,000 Active 66 DOM
15. 2026-04-27
    price $130,000
16. 2026-04-16
    price $160,000
17. 2026-03-26
    listed $170,000 Active
18. 2004-01-26
    soldstatus $110,000
19. 2004-01-20
    soldstatus $110,000 490-char remark

    Show marketing remark (490 chars)

    UNUSUALLY WELL CARED FOR UNIT THAT HAS HAD ONLY LIGHT SEASONAL USE. EVERYTHING IS IN FABULOUS CONDITION. 18 IN. OFFWHITE TILE ON FIRST FL. BEAUTIFUL, INVITING VIEW OF GARDEN FROM LIVING ROOM. PATIO CLOSED IN WITH EXPENSIVE, SMOOTH SLIDING, "PICTURE WINDOW" TYPE DOORS THIS IS A RARE COTTONWOOD II MODEL THAT WAS ORIGINALLY DESIGNED FOR A THREE BEDROOM UNIT. THEREFORE UNIT HAS LOTS OF STORAGE, LARGE BEDROOMS AND A HUGE MASTERBATHWHERE OWNER HAD A TOP OF THE LINE SAUNA INSTALLED.

20. 2003-12-09
    historical 490-char remark

    Show marketing remark (490 chars)

    UNUSUALLY WELL CARED FOR UNIT THAT HAS HAD ONLY LIGHT SEASONAL USE. EVERYTHING IS IN FABULOUS CONDITION. 18 IN. OFFWHITE TILE ON FIRST FL. BEAUTIFUL, INVITING VIEW OF GARDEN FROM LIVING ROOM. PATIO CLOSED IN WITH EXPENSIVE, SMOOTH SLIDING, "PICTURE WINDOW" TYPE DOORS THIS IS A RARE COTTONWOOD II MODEL THAT WAS ORIGINALLY DESIGNED FOR A THREE BEDROOM UNIT. THEREFORE UNIT HAS LOTS OF STORAGE, LARGE BEDROOMS AND A HUGE MASTERBATHWHERE OWNER HAD A TOP OF THE LINE SAUNA INSTALLED.

21. 2003-11-25
    listed $112,000 490-char remark

    Show marketing remark (490 chars)

    UNUSUALLY WELL CARED FOR UNIT THAT HAS HAD ONLY LIGHT SEASONAL USE. EVERYTHING IS IN FABULOUS CONDITION. 18 IN. OFFWHITE TILE ON FIRST FL. BEAUTIFUL, INVITING VIEW OF GARDEN FROM LIVING ROOM. PATIO CLOSED IN WITH EXPENSIVE, SMOOTH SLIDING, "PICTURE WINDOW" TYPE DOORS THIS IS A RARE COTTONWOOD II MODEL THAT WAS ORIGINALLY DESIGNED FOR A THREE BEDROOM UNIT. THEREFORE UNIT HAS LOTS OF STORAGE, LARGE BEDROOMS AND A HUGE MASTERBATHWHERE OWNER HAD A TOP OF THE LINE SAUNA INSTALLED.

22. 1998-12-09
    soldstatus $64,000
23. 1998-11-24
    soldstatus $64,000 56-char remark

    Show marketing remark (56 chars)

    GREAT TOWN HOUSE LOTS OF UPGRADES/ EVERTHING IS NEW. 55+

24. 1998-11-05
    historical 56-char remark

    Show marketing remark (56 chars)

    GREAT TOWN HOUSE LOTS OF UPGRADES/ EVERTHING IS NEW. 55+

25. 1998-08-05
    listed $67,900 56-char remark

    Show marketing remark (56 chars)

    GREAT TOWN HOUSE LOTS OF UPGRADES/ EVERTHING IS NEW. 55+

26. 1994-08-05
    soldstatus $64,900
27. 1990-06-06
    soldstatus $60,900

ⓘ 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: $676 · $56/mo
• Projected year-2 tax: $1,079 · $90/mo
• Expected delta: +$403/yr (+$34/mo · 59.7%)

ⓘ 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) · 22% 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 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,867
• − Mortgage interest: −$7,282
• − Property taxes: −$676
• − Insurance: −$650
• − Repairs & maintenance: −$2,149
• − Management: −$2,149
• − HOA: −$6,384
• − Depreciation: −$3,782
• Taxable income: $3,794
• Est. tax owed @ 24.0%: −$911
• After-tax cash flow: $4,424/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 — Greenacres

• Score: 69/100
• State rank: #490
• US rank: #9008

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• City population: 65,478
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 54,581
• Household income: $61,274
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 2254.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 53% Two or more races 26% White 21% Black 21% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 6% Cuban 14% Dominican 2% Salvadoran 1%
• Common ancestry: Hispanic 9% Romanian 1% Lithuanian 1%
• Foreign-born: 44% · Canada, Jamaica, Dominican Republic
• Languages at home: 40% English-only · Spanish 49% French/Haitian/Cajun 8% Other Indo-European 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: ▼ -400.29%
• Current HPI: 413.9695
• Rent YoY: ▼ -1.64%
• 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

+113.5% since first listed

13 events — show timeline

• 2026-04-27 Price Changed $130,000 Beaches MLS
• 2026-04-16 Price Changed $160,000 Beaches MLS
• 2026-03-26 Listed $170,000 Beaches MLS
• 2004-01-26 Sold (Public Records) $110,000 Public Records
• 2004-01-20 Sold (MLS) $110,000 Beaches MLS
• 2003-12-09 Listing Removed — Beaches MLS
• 2003-11-25 Listed $112,000 Beaches MLS
• 1998-12-09 Sold (Public Records) $64,000 Public Records
• 1998-11-24 Sold (MLS) $64,000 Beaches MLS
• 1998-11-05 Listing Removed — Beaches MLS
• 1998-08-05 Listed $67,900 Beaches MLS
• 1994-08-05 Sold (Public Records) $64,900 Public Records
• 1990-06-06 Sold (Public Records) $60,900 Public Records

Property tax history

-0.6%/yr

Latest (2025): $676 · +2.9% YoY. Source: county tax records.