2534 Garden Dr S #202 · Lake Clarke Shores, FL 33461

$52,000

1 bd · 1.0 ba · 744 sqft · Condo public records · 259 Days on market

Built 1970 $669/mo HOA · 42% of rent

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS ONE IS FOR YOU! Located in a comfortable community. Great location. Newly Renovated kitchen and Tile Floors. Community features many amenities including a game area, pool, exercise area, library and many more. Come see this home!

Key facts

• Tile floors
• Game area
• Pool

Tags

• NEWLY RENOVATED KITCHEN
• TILE FLOORS
• GAME AREA
• POOL
• EXERCISE AREA
• LIBRARY

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Homeowners association with monthly fee; Monthly HOA fee approximately $669.83; Association amenities: billiard room, elevators, fitness center, game room, on-site management, picnic area, pool, sauna, shuffleboard court, manager on site, community room, library; Senior community

Exterior

• Utilities: Public water; Water service available
• Home design: Condominium; 2-story building; Faces west; Resale unit
• Construction: CBS construction
• Exterior features: Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Other flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $52k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $52k).
• Recommended offer: $46k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 81/100 on livability (#98 in FL, #1,445 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment 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.
• Market conditions: Rents soft (-2.5%/yr); 274 active listings in the ZIP; 32 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 31% 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 $360 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 259 days — a 12% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 12y 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

• Watch-outs: HOA is 42% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $45,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 259 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 1970 — 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 A-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?
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: 3.09% ✓
• Cap rate: 11.54%
• Cash-on-cash: 18.75%
• DSCR: 1.83
• GRM: 2.7

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: 3.4%
• Equity multiple: 1.12×
• Total profit: $1,797
• Equity at exit: $7,753

10-year hold

• IRR: 5.1%
• Equity multiple: 1.26×
• Total profit: $3,820
• Equity at exit: $4,496

Cash invested: $14,560 (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: 274
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,608 high
• Mortgage (P&I): −$273
• Tax from tax record: −$79 /mo · $950/yr
• Insurance: −$22
• HOA: −$669
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $228

Break-even live

Break-even rent $1,320

Max offer price $52,000

Occupancy floor 81%

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: $13,000
• Closing costs: $1,560
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2566 Garden Dr S Lake Worth Beach, FL	1.0	1.0	744	$1,395	$1.88	24d	1	0.04mi
3260 Hi St Unit B Lake Worth Beach, FL	1.0	1.0	400	$1,700	$4.25	24d	1	0.44mi
3300 Boutwell Rd Lake Worth Beach, FL	1.0–2.0	1.0–2.0	765	$1,870	$2.44	24d	1	0.52mi
3017 Buckley Ave Lake Worth, FL	2.0	1.0	720	$2,200	$3.06	24d	1	0.72mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,722	$2.51	1d	5	0.79mi
1765 16th Ct N Lake Worth Beach, FL	—	1.0	450	$1,700	$3.78	24d	1	0.87mi
1755 Forest Hill Blvd Lake Clarke Shores, FL	1.0	1.0	662	$1,595	$2.41	7d	1	0.91mi
2571 Lake Worth Rd Lake Worth, FL	1.0–2.0	1.0–2.0	750	$1,378	$1.84	1d	2	1.03mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,055	$2.13	1d	14	1.04mi
2220 Lake Worth Rd Lake Worth, FL	1.0	1.0	700	$1,779	$2.54	22d	1	1.09mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,550	$1.82	24d	2	1.09mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,650	$2.00	24d	3	1.10mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	22d	1	1.14mi
300 Bonnie Blvd #144 Palm Springs, FL	1.0	1.0	702	$1,350	$1.92	24d	1	1.19mi
1201 N E St Unit 2 Lake Worth Beach, FL	1.0	1.0	600	$1,500	$2.50	24d	1	1.25mi
3654 Coconut Rd Palm Springs, FL	1.0	1.0	600	$1,500	$2.50	24d	1	1.27mi
3901 Lakewood Rd Unit A Lake Worth Beach, FL	2.0	1.0	704	$2,000	$2.84	24d	1	1.34mi
123 Erie St Apt 10 Lake Worth, FL	1.0	1.0	600	$1,325	$2.21	24d	1	1.35mi
136 Akron St Unit A1 Lake Worth Beach, FL	1.0	1.0	599	$2,075	$3.46	24d	1	1.37mi
136 Akron St Apt B2 Lake Worth Beach, FL	1.0	1.0	599	$2,175	$3.63	24d	1	1.37mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,450	$2.64	24d	1	1.37mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,375	$2.50	22d	1	1.37mi
1601 N Dixie Hwy Lake Worth Beach, FL	1.0–2.0	1.0–2.0	831	$1,785	$2.15	1d	7	1.44mi
3874 7th Ave N Unit 3878 Lake Worth Beach, FL	1.0	1.0	528	$1,600	$3.03	24d	1	1.46mi
417 N E St Unit 36 Lake Worth Beach, FL	1.0	1.0	650	$1,550	$2.38	12d	1	1.46mi
417 N E St Unit 39 Lake Worth Beach, FL	1.0	1.0	700	$1,550	$2.21	24d	1	1.46mi
920 11th Ave N Unit 912 Lake Worth Beach, FL	1.0	1.0	600	$1,100	$1.83	20d	1	1.46mi
1118 N H St Unit 15 Lake Worth Beach, FL	1.0	1.0	483	$1,550	$3.21	14d	1	1.47mi
1715 N Dixie Hwy Lake Worth Beach, FL	1.0–3.0	1.0–2.0	1014	$1,850	$1.82	24d	11	1.47mi
413 N E St Lake Worth Beach, FL	2.0	1.0	646	$2,000	$3.10	24d	1	1.47mi
912 11th Ave N Lake Worth Beach, FL	1.0	1.0	600	$1,100	$1.83	20d	1	1.48mi
801 N H St #1 Lake Worth Beach, FL	1.0	1.0	600	$1,550	$2.58	24d	1	1.50mi

HOA detail condo

• Monthly dues: $669 · $8,028/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $52,000 Active 259 DOM
2. 2026-06-17
   days on market $52,000 Active 258 DOM
3. 2026-06-16
   days on market $52,000 Active 257 DOM
4. 2026-06-15
   days on market $52,000 Active 256 DOM
5. 2026-06-13
   days on market $52,000 Active 254 DOM
6. 2026-06-09
   days on market $52,000 Active 250 DOM
7. 2026-06-07
   days on market $52,000 Active 248 DOM
8. 2026-06-04
   days on market $52,000 Active 245 DOM
9. 2026-06-03
   days on market $52,000 Active 244 DOM
10. 2026-06-01
    days on market $52,000 Active 242 DOM
11. 2026-05-31
    days on market $52,000 Active 241 DOM
12. 2025-10-02
    listed $52,000 Active
13. 2025-09-26
    historical
14. 2024-09-27
    listed $79,900 Active
15. 2021-06-08
    soldstatus $49,000
16. 2021-05-28
    soldstatus $49,000 Closed 234-char remark

    Show marketing remark (234 chars)

    THIS ONE IS FOR YOU! Located in a comfortable community. Great location. Newly Renovated kitchen and Tile Floors. Community features many amenities including a game area, pool, exercise area, library and many more. Come see this home!

17. 2021-04-29
    status Pending 234-char remark

    Show marketing remark (234 chars)

    THIS ONE IS FOR YOU! Located in a comfortable community. Great location. Newly Renovated kitchen and Tile Floors. Community features many amenities including a game area, pool, exercise area, library and many more. Come see this home!

18. 2021-04-21
    status Active 234-char remark

    Show marketing remark (234 chars)

    THIS ONE IS FOR YOU! Located in a comfortable community. Great location. Newly Renovated kitchen and Tile Floors. Community features many amenities including a game area, pool, exercise area, library and many more. Come see this home!

19. 2021-04-20
    status Pending 234-char remark

    Show marketing remark (234 chars)

    THIS ONE IS FOR YOU! Located in a comfortable community. Great location. Newly Renovated kitchen and Tile Floors. Community features many amenities including a game area, pool, exercise area, library and many more. Come see this home!

20. 2021-04-12
    listed $55,000 Active 234-char remark

    Show marketing remark (234 chars)

    THIS ONE IS FOR YOU! Located in a comfortable community. Great location. Newly Renovated kitchen and Tile Floors. Community features many amenities including a game area, pool, exercise area, library and many more. Come see this home!

21. 2020-12-31
    soldstatus $50,000
22. 2020-12-15
    soldstatus $50,000 Closed
23. 2020-12-04
    status Pending
24. 2020-11-09
    price $54,000
25. 2020-09-18
    status Active
26. 2020-09-16
    historical
27. 2020-08-06
    price $55,000
28. 2020-06-15
    listed $56,500 Active
29. 2020-05-28
    historical
30. 2020-03-11
    price $56,500
31. 2019-12-02
    listed $58,000 Active
32. 2016-01-27
    soldstatus $34,500
33. 2016-01-26
    soldstatus $34,500 Closed
34. 2016-01-18
    historical Contingent
35. 2015-12-30
    price $39,450
36. 2015-11-03
    price $39,500
37. 2015-10-13
    price $39,900
38. 2015-10-06
    price $40,900
39. 2015-09-28
    price $41,000
40. 2015-09-02
    status Active
41. 2015-08-21
    historical Contingent
42. 2015-08-13
    price $41,500
43. 2015-07-20
    listed $42,500 Active
44. 2015-07-15
    historical
45. 2015-07-06
    price $38,999
46. 2015-06-08
    price $39,000
47. 2015-05-27
    price $42,000
48. 2015-05-14
    price $42,900
49. 2015-05-04
    price $44,996
50. 2015-04-25
    price $44,997

ⓘ 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: $950 · $79/mo
• Projected year-2 tax: $950 · $79/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 9/10 Extreme 6 d/yr ≥105°F today · 22 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: $19,292
• − Mortgage interest: −$2,913
• − Property taxes: −$950
• − Insurance: −$260
• − Repairs & maintenance: −$1,543
• − Management: −$1,543
• − HOA: −$8,028
• − Depreciation: −$1,513
• Taxable income: $2,542
• Est. tax owed @ 24.0%: −$610
• After-tax cash flow: $2,120/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 — Lake Clarke Shores

• Score: 81/100
• State rank: #98
• US rank: #1445

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ 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
• 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

+205.9% since first listed

59 events — show timeline

• 2025-10-02 Listed $52,000 Beaches MLS
• 2025-09-26 Listing Removed — Beaches MLS
• 2024-09-27 Listed $79,900 Beaches MLS
• 2021-06-08 Sold (Public Records) $49,000 Public Records
• 2021-05-28 Sold (MLS) $49,000 Beaches MLS
• 2021-04-29 Pending — Beaches MLS
• 2021-04-21 Relisted — Beaches MLS
• 2021-04-20 Pending — Beaches MLS
• 2021-04-12 Listed $55,000 Beaches MLS
• 2020-12-31 Sold (Public Records) $50,000 Public Records
• 2020-12-15 Sold (MLS) $50,000 Beaches MLS
• 2020-12-04 Pending — Beaches MLS
• 2020-11-09 Price Changed $54,000 Beaches MLS
• 2020-09-18 Relisted — Beaches MLS
• 2020-09-16 Listing Removed — Beaches MLS
• 2020-08-06 Price Changed $55,000 Beaches MLS
• 2020-06-15 Listed $56,500 Beaches MLS
• 2020-05-28 Listing Removed — Beaches MLS
• 2020-03-11 Price Changed $56,500 Beaches MLS
• 2019-12-02 Listed $58,000 Beaches MLS
• 2016-01-27 Sold (Public Records) $34,500 Public Records
• 2016-01-26 Sold (MLS) $34,500 Beaches MLS
• 2016-01-18 Contingent — Beaches MLS
• 2015-12-30 Price Changed $39,450 Beaches MLS
• 2015-11-03 Price Changed $39,500 Beaches MLS
• 2015-10-13 Price Changed $39,900 Beaches MLS
• 2015-10-06 Price Changed $40,900 Beaches MLS
• 2015-09-28 Price Changed $41,000 Beaches MLS
• 2015-09-02 Relisted — Beaches MLS
• 2015-08-21 Contingent — Beaches MLS
• 2015-08-13 Price Changed $41,500 Beaches MLS
• 2015-07-20 Listed $42,500 Beaches MLS
• 2015-07-15 Listing Removed — Beaches MLS
• 2015-07-06 Price Changed $38,999 Beaches MLS
• 2015-06-08 Price Changed $39,000 Beaches MLS
• 2015-05-27 Price Changed $42,000 Beaches MLS
• 2015-05-14 Price Changed $42,900 Beaches MLS
• 2015-05-04 Price Changed $44,996 Beaches MLS
• 2015-04-25 Price Changed $44,997 Beaches MLS
• 2015-04-16 Price Changed $44,999 Beaches MLS
• 2015-03-19 Price Changed $45,000 Beaches MLS
• 2015-02-28 Listed $50,000 Beaches MLS
• 2014-10-22 Listing Removed — Beaches MLS
• 2014-10-22 Sold (Public Records) $19,000 Public Records
• 2014-10-22 Sold (MLS) $19,000 Beaches MLS
• 2014-09-26 Pending — Beaches MLS
• 2014-09-18 Price Changed $21,500 Beaches MLS
• 2014-09-10 Relisted — Beaches MLS
• 2014-07-31 Pending — Beaches MLS
• 2014-07-15 Price Changed $22,000 Beaches MLS
• 2014-07-02 Price Changed $23,000 Beaches MLS
• 2014-06-19 Price Changed $24,000 Beaches MLS
• 2014-06-16 Price Changed $25,000 Beaches MLS
• 2014-06-10 Price Changed $26,012 Beaches MLS
• 2014-06-05 Price Changed $28,000 Beaches MLS
• 2014-06-03 Price Changed $29,914 Beaches MLS
• 2014-05-03 Price Changed $30,952 Beaches MLS
• 2014-03-14 Listed $31,999 Beaches MLS
• 1975-01-01 Sold (Public Records) $17,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $950 · -25.9% YoY. Source: county tax records.