2728 N Garden Dr #313 · Palm Springs, FL 33461

$72,000

1 bd · 1.5 ba · 894 sqft · Condo public records · 399 Days on market

Built 1972 $779/mo HOA · 45% of rent

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Why this score? — see what drove the C- 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 +17.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Absolutely adorable 1 bedroom, 1.5 bath very clean unit. Your view is spectacular and one of the best in the whole development. THIS UNIT IS TENANT OCCUPIED UNTIL THE FIRST OF APRIL.

Key facts

• Views of the lake
• $779 HOA
• Community pool

Tags

• VIEWS OF THE LAKE

Property features AI

Finance

• Other: Senior community
• Financial info: Part of a large community with 855 units; Pets not allowed
• HOA & community: Has association; Monthly HOA includes cable TV, insurance, and water; Association amenities: billiard room, clubhouse, elevators, fitness center, pool, sauna, shuffleboard court, workshop area, trash chute, bocce ball, courtesy bus, internet included, library, putting green, street lights; Monthly HOA fee

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Water available; Sewer available
• Home design: Condominium; 4-story building; Faces west
• Construction: CBS construction
• Exterior features: Waterfront property

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: One bedroom on the main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Entrance foyer; Walk-in closet(s); Partially furnished

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $72k.

Deal economics

• At list price, monthly cash flow is $49 ($587/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $72k).
• Recommended offer: $63k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#297 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: Meadow Park Elementary School (math 64% / reading 73%, grade B+, #409 of 2,144 statewide, top 20%, 809 students, 65% FRL); Conniston Middle School (math 35% / reading 38%, grade F, #405 of 571 statewide, top 72%, 1,075 students, 74% 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 average 68% FRL vs 52% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.5%/yr); 276 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 34% of the median local income ($62k/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 $498 of loan paydown is wiped out by about $2k 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 399 days — a 12% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y ago; this cycle's ask has dropped $43k (37%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $56k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 45% 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 $63,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 399 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 2.41% ✓
• Cap rate: 7.11%
• Cash-on-cash: 2.91%
• DSCR: 1.13
• GRM: 3.5

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: -20.0%
• Equity multiple: 0.35×
• Total profit: $-13,101
• Equity at exit: $10,735

10-year hold

• IRR: -68.2%
• Equity multiple: -0.23×
• Total profit: $-24,879
• Equity at exit: $6,225

Cash invested: $20,160 (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 33461

• Rents YoY: -2.5%
• Active inventory: 276
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,735 high
• Mortgage (P&I): −$378
• Tax from tax record: −$135 /mo · $1,620/yr
• Insurance: −$30
• HOA: −$779
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $49

Break-even live

Break-even rent $1,673

Max offer price $72,000

Occupancy floor 92%

Sensitivity live

Price	-10% $90	-5% $69	+0% $49	+5% $29	+10% $8
Rent	-10% $-88	-5% $-20	+0% $49	+5% $117	+10% $186
Rate	-1.0pp $85	-0.5pp $67	base $49	+0.5pp $30	+1.0pp $11

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	3d	1	0.06mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	5d	1	0.06mi
2721 Garden Dr N #105 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	22d	1	0.09mi
2724 Garden Dr S #207 Lake Worth, FL	1.0	1.0	744	$1,850	$2.49	0d	1	0.10mi
2856 Garden Dr S #112 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	25d	1	0.16mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	9d	1	0.18mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	16d	1	0.18mi
2566 Garden Dr S Lake Worth Beach, FL	1.0	1.0	744	$1,395	$1.88	25d	1	0.19mi
2791 S Florida Mango Rd Lake Worth, FL	2.0	2.0	1100	$1,995	$1.81	22d	1	0.20mi
100 Rex Ave Palm Springs, FL	2.0	2.0	1000	$1,850	$1.85	25d	3	0.39mi
2901 10th Ave N Palm Springs, FL	2.0	1.0	900	$1,795	$1.99	25d	1	0.43mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,746	$2.18	15d	1	0.47mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,672	$2.09	12d	1	0.47mi
220 Henthorne Dr Palm Springs, FL	1.0–2.0	1.5–2.0	900	$1,700	$1.89	25d	4	0.49mi
3386 Rudolph Rd Lake Worth Beach, FL	2.0	1.0	840	$2,100	$2.50	4d	1	0.52mi
3440 Rudolph Rd Unit 3440-03 Lake Worth Beach, FL	2.0	2.0	935	$2,100	$2.25	20d	1	0.60mi
3431 Helena Dr Unit 3481-11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	25d	1	0.62mi
3431 Helena Dr Lake Worth, FL	2.0	2.0	935	$2,075	$2.22	15d	2	0.62mi
3481 Helena Dr Unit 11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	25d	1	0.63mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,722	$2.51	2d	5	0.68mi
1065 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,100	$1.91	4d	1	0.68mi
3300 Boutwell Rd Lake Worth Beach, FL	1.0–2.0	1.0–2.0	765	$1,870	$2.44	25d	1	0.70mi
1020 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,200	$2.00	23d	1	0.74mi
3017 Buckley Ave Lake Worth, FL	2.0	1.0	720	$2,200	$3.06	25d	1	0.74mi
1016 Manor Dr Unit 5c Palm Springs, FL	2.0	2.0	1098	$2,256	$2.05	25d	1	0.75mi
1742 W Terrace Dr Lake Worth Beach, FL	2.0	1.5	1000	$2,700	$2.70	25d	1	0.87mi
1802 Waterview Cir #1802 Palm Springs, FL	2.0	2.0	951	$1,925	$2.02	25d	1	0.90mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,550	$1.82	25d	2	0.90mi
225 Bonnie Blvd Palm Springs, FL	1.0–2.0	1.5–2.0	944	$1,300	$1.38	25d	2	0.90mi
225 Bonnie Blvd #116 Palm Springs, FL	2.0	2.0	988	$1,850	$1.87	20d	1	0.90mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,130	$2.21	0d	12	0.90mi
247 Cypress Ln Unit 246-C12 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	6d	1	0.91mi
247 Cypress Ln Unit 246-C06 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	25d	1	0.91mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,650	$2.00	25d	3	0.92mi
1755 Forest Hill Blvd Lake Clarke Shores, FL	1.0	1.0	662	$1,595	$2.41	9d	1	0.93mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	23d	1	0.95mi
500 Bonnie Blvd #165 Palm Springs, FL	1.0	1.5	782	$1,350	$1.73	25d	1	0.97mi
300 Bonnie Blvd #144 Palm Springs, FL	1.0	1.0	702	$1,350	$1.92	25d	1	1.00mi
502 Davis Rd Palm Springs, FL	2.0	1.0–2.0	878	$1,675	$1.91	6d	2	1.03mi
701 Lori Dr #204 Palm Springs, FL	2.0	2.0	994	$1,700	$1.71	25d	1	1.03mi

HOA detail condo

• Monthly dues: $779 · $9,348/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-21
   days on market $72,000 Active 399 DOM
2. 2026-06-18
   days on market $72,000 Active 396 DOM
3. 2026-06-17
   days on market $72,000 Active 395 DOM
4. 2026-06-16
   days on market $72,000 Active 394 DOM
5. 2026-06-15
   days on market $72,000 Active 393 DOM
6. 2026-06-13
   statusdays on market $72,000 Active 391 DOM
7. 2026-06-09
   days on market $72,000 Active Under Contract 387 DOM
8. 2026-06-07
   days on market $72,000 Active Under Contract 385 DOM
9. 2026-06-04
   days on market $72,000 Active Under Contract 382 DOM
10. 2026-06-03
    days on market $72,000 Active Under Contract 381 DOM
11. 2026-06-01
    days on market $72,000 Active Under Contract 379 DOM
12. 2026-05-31
    days on market $72,000 Active Under Contract 378 DOM
13. 2026-05-21
    historical Active Under Contract
14. 2026-05-01
    price $72,000
15. 2026-02-26
    price $89,000
16. 2025-05-18
    listed $114,900 Active
17. 2023-11-17
    historical
18. 2023-10-17
    listed $154,900 Active
19. 2017-05-02
    soldstatus $56,500
20. 2017-04-28
    soldstatus $56,500 Closed 182-char remark

    Show marketing remark (182 chars)

    Absolutely adorable 1 bedroom, 1.5 bath very clean unit. Your view is spectacular and one of the best in the whole development. THIS UNIT IS TENANT OCCUPIED UNTIL THE FIRST OF APRIL.

21. 2017-04-25
    status Pending 182-char remark

    Show marketing remark (182 chars)

    Absolutely adorable 1 bedroom, 1.5 bath very clean unit. Your view is spectacular and one of the best in the whole development. THIS UNIT IS TENANT OCCUPIED UNTIL THE FIRST OF APRIL.

22. 2017-03-19
    historical Contingent 182-char remark

    Show marketing remark (182 chars)

    Absolutely adorable 1 bedroom, 1.5 bath very clean unit. Your view is spectacular and one of the best in the whole development. THIS UNIT IS TENANT OCCUPIED UNTIL THE FIRST OF APRIL.

23. 2017-03-16
    status Pending 182-char remark

    Show marketing remark (182 chars)

    Absolutely adorable 1 bedroom, 1.5 bath very clean unit. Your view is spectacular and one of the best in the whole development. THIS UNIT IS TENANT OCCUPIED UNTIL THE FIRST OF APRIL.

24. 2017-01-25
    listed $62,500 Active 182-char remark

    Show marketing remark (182 chars)

    Absolutely adorable 1 bedroom, 1.5 bath very clean unit. Your view is spectacular and one of the best in the whole development. THIS UNIT IS TENANT OCCUPIED UNTIL THE FIRST OF APRIL.

25. 2017-01-25
    historical

    Show marketing remark (182 chars)

    Absolutely adorable 1 bedroom, 1.5 bath very clean unit. Your view is spectacular and one of the best in the whole development. THIS UNIT IS TENANT OCCUPIED UNTIL THE FIRST OF APRIL.

26. 2017-01-23
    price $59,900
27. 2017-01-23
    listed $62,900 Active
28. 2013-05-14
    soldstatus $47,000
29. 2013-04-25
    soldstatus $47,000 Sold
30. 2013-03-05
    historical
31. 2013-02-21
    listed $55,000
32. 2001-07-13
    soldstatus $40,000
33. 1989-07-06
    soldstatus $47,500

ⓘ 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: $1,620 · $135/mo
• Projected year-2 tax: $1,620 · $135/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 1/10 Low FEMA zone X (unshaded) · 0% 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: $20,817
• − Mortgage interest: −$4,033
• − Property taxes: −$1,620
• − Insurance: −$360
• − Repairs & maintenance: −$1,665
• − Management: −$1,665
• − HOA: −$9,348
• − Depreciation: −$2,095
• Taxable income: $31
• Est. tax owed @ 24.0%: −$8
• After-tax cash flow: $580/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 — Palm Springs

• Score: 73/100
• State rank: #297
• US rank: #5045

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• City population: 49,443
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 49,443
• Household income: $61,963
• Rent vs Own: 48.2% rent · 51.8% own
• Severe rent burden: 2663.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 59% Two or more races 26% White 20% Black 17% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 6% Cuban 16% Dominican 2%
• Common ancestry: Hispanic 9% Romanian 1% Lithuanian 1%
• Foreign-born: 52% · Canada, Jamaica
• Languages at home: 31% English-only · Spanish 54% French/Haitian/Cajun 10% Other Indo-European 2%

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: ▼ -269.03%
• Current HPI: 493.0041
• Rent YoY: ▼ -2.47%
• 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

+51.6% since first listed

21 events — show timeline

• 2026-05-21 Contingent — Beaches MLS
• 2026-05-01 Price Changed $72,000 Beaches MLS
• 2026-02-26 Price Changed $89,000 Beaches MLS
• 2025-05-18 Listed $114,900 Beaches MLS
• 2023-11-17 Listing Removed — Beaches MLS
• 2023-10-17 Listed $154,900 Beaches MLS
• 2017-05-02 Sold (Public Records) $56,500 Public Records
• 2017-04-28 Sold (MLS) $56,500 Beaches MLS
• 2017-04-25 Pending — Beaches MLS
• 2017-03-19 Contingent — Beaches MLS
• 2017-03-16 Pending — Beaches MLS
• 2017-01-25 Listed $62,500 Beaches MLS
• 2017-01-25 Listing Removed — Beaches MLS
• 2017-01-23 Price Changed $59,900 Beaches MLS
• 2017-01-23 Listed $62,900 Beaches MLS
• 2013-05-14 Sold (Public Records) $47,000 Public Records
• 2013-04-25 Sold (MLS) $47,000 Beaches MLS
• 2013-03-05 Listing Removed — Beaches MLS
• 2013-02-21 Listed $55,000 Beaches MLS
• 2001-07-13 Sold (Public Records) $40,000 Public Records
• 1989-07-06 Sold (Public Records) $47,500 Public Records

Property tax history

+5.5%/yr

Latest (2025): $1,620 · -11.7% YoY. Source: county tax records.