3402 Gardens Dr Unit 14B · Palm Beach Gardens, FL 33410

$245,000

2 bd · 2.0 ba · 1,000 sqft · Condo public records · 102 Days on market

Built 1981 $502/mo HOA · 14% 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 +26.6/30.0
• 1% rule +9.7/10.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rarely Available Glenbrook Condominium. Beautiful 2 bedroom 2 bath just minutes from Gardens Medical Center & Gardens Mall. Tiled main living areas, granite counter tops and newer appliances. Condo comes with extra storage unit and over sized patio overlooking pool and green area. Very well maintained. A must see!

Key facts

• Near gardens mall
• Tennis courts
• Glenbrook community

Tags

• PRIVATE SCREENED-IN PATIO
• TENNIS COURTS
• GLENBROOK COMMUNITY
• NEAR GARDENS MALL
• NEAR BEAUTIFUL BEACHES
• NEAR PARKS

Property features AI

Finance

• HOA & community: Community pool; Monthly HOA fee of $502 covering grounds maintenance; Pets allowed (restrictions on number and size)

Exterior

• Home design: Condominium; 2-story building; Second floor entry
• Construction: Resale condition
• Exterior features: Second-floor entry; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Screened porch

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $245k.

Deal economics

• At list price, monthly cash flow is $654 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $245k).
• Recommended offer: $223k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#464 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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: Allamanda Elementary School (math 52% / reading 58%, grade C, #872 of 2,144 statewide, top 42%, 630 students, 48% FRL); Howell L. Watkins Middle School (math 18% / reading 33%, grade F, #512 of 571 statewide, top 90%, 794 students, 76% FRL); Palm Beach Gardens High School (math 19% / reading 40%, grade F, #447 of 667 statewide, top 68%, 2,570 students, 61% FRL).
• Zoned-school proficiency averages 37% at this address vs 50% district-wide (-13 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.5%/yr); 309 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $3,589/mo this rent would consume 46% of the median local household income ($95k/yr) (locally 1429% 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 $2k of loan paydown is wiped out by about $7k 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 102 days — a 9% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 25y 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 $134k; list at $245k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $222,950 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 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. 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 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. 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: 1.47% ✓
• Cap rate: 9.49%
• Cash-on-cash: 11.43%
• DSCR: 1.51
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.49% rent growth · sell at horizon

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $455
• Equity at exit: $36,530

10-year hold

• IRR: 9.3%
• Equity multiple: 1.70×
• Total profit: $48,003
• Equity at exit: $21,183

Cash invested: $68,600 (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 33410

• Rents YoY: 2.5%
• Active inventory: 309
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $3,589 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$293 /mo · $3,515/yr
• Insurance: −$102
• HOA: −$502
• Vacancy / Maint / Mgmt: −$754
• Net cashflow: $654

Break-even live

Break-even rent $2,762

Max offer price $245,000

Occupancy floor 77%

Sensitivity live

Price	-10% $792	-5% $723	+0% $654	+5% $584	+10% $515
Rent	-10% $370	-5% $512	+0% $654	+5% $795	+10% $937
Rate	-1.0pp $777	-0.5pp $716	base $654	+0.5pp $590	+1.0pp $526

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2750 Rio Vista Blvd Palm Beach Gardens, FL	1.0–2.0	1.0–2.0	925	$2,999	$3.24	4d	27	0.15mi
7102 Geminata Oak Ct Unit 7102 Palm Beach Gardens, FL	2.0	2.0	1152	$3,200	$2.78	9d	1	0.58mi
10201 Chapman Oak Ct Palm Beach Gardens, FL	2.0	2.0	1152	$4,000	$3.47	25d	1	0.59mi
3660 RCA Blvd Palm Beach Gardens, FL	1.0–2.0	1.0–2.0	1524	$6,849	$4.49	2d	30	0.71mi
11011 Legacy Dr #306 Palm Beach Gardens, FL	2.0	2.0	1403	$4,350	$3.10	25d	1	0.77mi
11024 Legacy Dr #104 Palm Beach Gardens, FL	2.0	2.0	1345	$6,000	$4.46	25d	1	0.83mi
11028 Legacy Dr #203 Palm Beach Gardens, FL	2.0	2.0	1309	$4,000	$3.06	25d	1	0.84mi
2539 Wabash Dr West Palm Beach, FL	3.0	2.5	1468	$5,500	$3.75	25d	1	0.90mi
11023 Legacy Ln #204 Palm Beach Gardens, FL	2.0	2.0	1309	$3,500	$2.67	25d	1	0.92mi
908 Lighthouse Dr North Palm Beach, FL	3.0	2.0	1478	$4,250	$2.88	25d	1	0.93mi
913 Lighthouse Dr North Palm Beach, FL	3.0	2.5	1092	$5,900	$5.40	25d	1	0.95mi
11021 Legacy Ln #303 Palm Beach Gardens, FL	2.0	2.0	1403	$2,950	$2.10	25d	1	0.95mi
9446 Birmingham Dr Palm Beach Gardens, FL	3.0	2.0	1092	$3,250	$2.98	6d	1	1.04mi
4120 Union Square Blvd Palm Beach Gardens, FL	1.0–3.0	1.0–2.0	1035	$2,632	$2.54	0d	100	1.06mi
3955 Design Center Dr Palm Beach Gardens, FL	3.0	1.0–2.0	996	$3,517	$3.53	0d	22	1.08mi
9507 Bellewood St Palm Beach Gardens, FL	3.0	2.0	1200	$5,000	$4.17	21d	1	1.12mi
700 Sanctuary Cove Dr West Palm Beach, FL	1.0–3.0	1.0–2.0	1120	$2,584	$2.31	0d	55	1.15mi
4295 Crestdale St Palm Beach Gardens, FL	3.0	2.0	1366	$4,500	$3.29	25d	1	1.22mi
4292 Birdwood St Palm Beach Gardens, FL	3.0	2.0	1232	$3,800	$3.08	25d	1	1.27mi
4358 Birdwood St Palm Beach Gardens, FL	3.0	2.0	1232	$5,000	$4.06	25d	1	1.32mi
2545 Conroy Dr West Palm Beach, FL	3.0	2.0	1066	$3,295	$3.09	25d	1	1.36mi
9147 Reed Dr Unit A Palm Beach Gardens, FL	3.0	2.0	1400	$3,400	$2.43	6d	1	1.43mi
2396 Easy St Unit A Palm Beach Gardens, FL	2.0	1.0	948	$3,500	$3.69	25d	1	1.47mi

HOA detail condo

• Monthly dues: $502 · $6,024/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-21
   days on market $245,000 Active 102 DOM
2. 2026-06-18
   days on market $245,000 Active 99 DOM
3. 2026-06-17
   days on market $245,000 Active 98 DOM
4. 2026-06-16
   days on market $245,000 Active 97 DOM
5. 2026-06-15
   days on market $245,000 Active 96 DOM
6. 2026-06-13
   days on market $245,000 Active 94 DOM
7. 2026-06-09
   days on market $245,000 Active 90 DOM
8. 2026-06-08
   days on market $245,000 Active 89 DOM
9. 2026-06-07
   days on market $245,000 Active 88 DOM
10. 2026-06-04
    days on market $245,000 Active 85 DOM
11. 2026-06-03
    days on market $245,000 Active 84 DOM
12. 2026-06-02
    days on market $245,000 Active 83 DOM
13. 2026-06-01
    days on market $245,000 Active 82 DOM
14. 2026-05-31
    days on market $245,000 Active 81 DOM
15. 2025-05-21
    listed $245,000 Active
16. 2024-04-06
    historical $2,150
17. 2024-03-07
    listed $2,150
18. 2024-03-07
    historical $2,150
19. 2024-02-10
    listed $2,150
20. 2024-02-10
    historical $2,150
21. 2024-01-28
    price $2,150
22. 2024-01-04
    price $2,200
23. 2023-12-21
    listed $2,250
24. 2019-08-08
    soldstatus $134,500
25. 2019-08-06
    soldstatus $134,500 Closed 321-char remark

    Show marketing remark (321 chars)

    Rarely Available Glenbrook Condominium. Beautiful 2 bedroom 2 bath just minutes from Gardens Medical Center & Gardens Mall. Tiled main living areas, granite counter tops and newer appliances. Condo comes with extra storage unit and over sized patio overlooking pool and green area. Very well maintained. A must see!

26. 2019-07-17
    status Pending 321-char remark

    Show marketing remark (321 chars)

    Rarely Available Glenbrook Condominium. Beautiful 2 bedroom 2 bath just minutes from Gardens Medical Center & Gardens Mall. Tiled main living areas, granite counter tops and newer appliances. Condo comes with extra storage unit and over sized patio overlooking pool and green area. Very well maintained. A must see!

27. 2019-07-15
    listed $139,000 Active 321-char remark

    Show marketing remark (321 chars)

    Rarely Available Glenbrook Condominium. Beautiful 2 bedroom 2 bath just minutes from Gardens Medical Center & Gardens Mall. Tiled main living areas, granite counter tops and newer appliances. Condo comes with extra storage unit and over sized patio overlooking pool and green area. Very well maintained. A must see!

28. 2010-08-20
    soldstatus $50,000 80-char remark

    Show marketing remark (80 chars)

    Own your own condo for less than you can rent it for or rent it out and make $$!

29. 2010-08-12
    historical 80-char remark

    Show marketing remark (80 chars)

    Own your own condo for less than you can rent it for or rent it out and make $$!

30. 2010-02-22
    listed $60,000 80-char remark

    Show marketing remark (80 chars)

    Own your own condo for less than you can rent it for or rent it out and make $$!

31. 2009-08-07
    historical
32. 2008-11-05
    listed $105,000
33. 2001-09-17
    soldstatus $74,900
34. 2001-09-11
    soldstatus $74,900
35. 2001-07-24
    historical
36. 2001-06-18
    listed $74,900
37. 1982-10-01
    soldstatus $68,900

ⓘ 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: $3,515 · $293/mo
• Projected year-2 tax: $3,515 · $293/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 ≥106°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: $43,071
• − Mortgage interest: −$13,724
• − Property taxes: −$3,515
• − Insurance: −$1,225
• − Repairs & maintenance: −$3,446
• − Management: −$3,446
• − HOA: −$6,024
• − Depreciation: −$7,127
• Taxable income: $4,564
• Est. tax owed @ 24.0%: −$1,095
• After-tax cash flow: $6,749/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 Beach Gardens

• Score: 69/100
• State rank: #464
• US rank: #8366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Beach Gardens, FL
• County: Palm Beach County · 1,438,312 people
• City population: 96,294
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 36,759
• Household income: $94,530
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 1429.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 15% Two or more races 13% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 17% · Canada, Jamaica, Vietnam
• Languages at home: 78% English-only · Spanish 13% French/Haitian/Cajun 3% 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: ▼ -346.12%
• Current HPI: 375.5381
• Rent YoY: ▲ 2.49%
• 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

+255.6% since first listed

23 events — show timeline

• 2025-05-21 Listed $245,000 Beaches MLS
• 2024-04-06 Rental Removed $2,150 RENTLY
• 2024-03-07 Listed for Rent $2,150 RENTLY
• 2024-03-07 Rental Removed $2,150 RENTLY
• 2024-02-10 Listed for Rent $2,150 RENTLY
• 2024-02-10 Rental Removed $2,150 RENTLY
• 2024-01-28 Price Changed $2,150 RENTLY
• 2024-01-04 Price Changed $2,200 RENTLY
• 2023-12-21 Listed for Rent $2,250 RENTLY
• 2019-08-08 Sold (Public Records) $134,500 Public Records
• 2019-08-06 Sold (MLS) $134,500 Beaches MLS
• 2019-07-17 Pending — Beaches MLS
• 2019-07-15 Listed $139,000 Beaches MLS
• 2010-08-20 Sold (MLS) $50,000 Beaches MLS
• 2010-08-12 Listing Removed — Beaches MLS
• 2010-02-22 Listed $60,000 Beaches MLS
• 2009-08-07 Listing Removed — Beaches MLS
• 2008-11-05 Listed $105,000 Beaches MLS
• 2001-09-17 Sold (Public Records) $74,900 Public Records
• 2001-09-11 Sold (MLS) $74,900 Beaches MLS
• 2001-07-24 Listing Removed — Beaches MLS
• 2001-06-18 Listed $74,900 Beaches MLS
• 1982-10-01 Sold (Public Records) $68,900 Public Records

Property tax history

+8.4%/yr

Latest (2025): $3,515 · +3.5% YoY. Source: county tax records.