3000 Springdale Blvd Unit V109 · Palm Springs, FL 33461

$59,000

1 bd · 1.0 ba · 660 sqft · Condo · 35 Days on market

Built 1980 Fair condition $420/mo HOA · 25% 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 +3.7/5.0
• Condition / age +2.2/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT 1BR/1BA CONDO WITH CERAMIC TILE, HAS BEEN WELL CARED FOR, HAS SIDE BY SIDE REFRIG, NEW A/C HANDLER, HURRICANE AWNINGS & WROL-UPS. GOOD 1ST FL UNIT.

Key facts

• Clubhouse
• Landscaped grounds
• Garden view

Tags

• GARDEN VIEW
• CLUBHOUSE
• LANDSCAPED GROUNDS
• ON-SITE LAUNDRY FACILITIES

Property features AI

Finance

• Other: Association-maintained pool; Senior community
• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association amenities: clubhouse, pool, billiard room, pickleball, elevator(s), laundry, transportation service, vehicle wash area

Exterior

• Parking: One assigned parking space
• Security: Closed-circuit cameras; Fire alarm; Smoke detectors
• Utilities: Cable available
• Home design: Attached property; 3-story building; Entry on level 1
• Construction: Block construction; Resale property
• Exterior features: Courtyard; Enclosed porch; Porch (screened)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Partially furnished; Breakfast area; First-floor entry; Bedroom on main level
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $59k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• Recommended offer: $57k (3.0% 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+, schools D-, amenities 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); 276 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 33% 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 $408 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y ago; this cycle's ask has dropped $31k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $27k; list at $59k implies a 119% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% 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 $57,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 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: 2.89% ✓
• Cap rate: 16.90%
• Cash-on-cash: 37.88%
• DSCR: 2.69
• GRM: 2.9

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: 29.1%
• Equity multiple: 2.15×
• Total profit: $18,929
• Equity at exit: $8,797

10-year hold

• IRR: 33.9%
• Equity multiple: 3.49×
• Total profit: $41,059
• Equity at exit: $5,101

Cash invested: $16,520 (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: 2.9×

Monthly cashflow live

• Estimated rent: $1,708 high
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$420
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $521

Break-even live

Break-even rent $1,048

Max offer price $59,000

Occupancy floor 64%

Sensitivity live

Price	-10% $562	-5% $542	+0% $521	+5% $501	+10% $481
Rent	-10% $387	-5% $454	+0% $521	+5% $589	+10% $656
Rate	-1.0pp $551	-0.5pp $536	base $521	+0.5pp $506	+1.0pp $491

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
555 Kirk Rd Palm Springs, FL	1.0	1.0	625	$2,268	$3.63	8d	1	0.17mi
555 Kirk Rd Palm Springs, FL	1.0	1.0	670	$2,352	$3.51	15d	1	0.17mi
555 Purdy Ln Palm Springs, FL	1.0	1.0	650	$1,375	$2.12	6d	1	0.32mi
500 Village Green Cir W Palm Springs, FL	1.0–2.0	1.0–1.5	739	$1,400	$1.89	25d	2	0.33mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,450	$2.64	25d	1	0.37mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,375	$2.50	23d	1	0.37mi
600 Village Green Ct #203 Palm Springs, FL	1.0	1.0	650	$1,300	$2.00	4d	1	0.38mi
300 Bonnie Blvd #144 Palm Springs, FL	1.0	1.0	702	$1,350	$1.92	25d	1	0.49mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	23d	1	0.54mi
4403 Anna Ln Unit B Palm Springs, FL	1.0	1.0	740	$1,600	$2.16	8d	1	0.54mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,650	$2.00	25d	3	0.58mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,550	$1.82	25d	2	0.58mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,055	$2.13	2d	14	0.87mi
2550 Lakehaven Rd West Palm Beach, FL	1.0	1.0	400	$1,500	$3.75	25d	1	1.03mi
3263 Kirk Rd #2 Lake Worth, FL	1.0	1.0	619	$1,650	$2.67	8d	1	1.28mi
3263 Kirk Rd #2 Lake Worth, FL	1.0	1.0	619	$1,650	$2.67	25d	1	1.28mi
2966 Ashley Dr E Unit C West Palm Beach, FL	1.0	1.0	611	$1,375	$2.25	25d	1	1.31mi
2951 Ashley Dr W West Palm Beach, FL	1.0	1.5	662	$1,525	$2.30	21d	1	1.41mi
2951 Ashley Dr W Unit D West Palm Beach, FL	1.0	1.5	662	$1,450	$2.19	17d	1	1.41mi
3874 7th Ave N Unit 3878 Lake Worth Beach, FL	1.0	1.0	528	$1,600	$3.03	25d	1	1.47mi

HOA detail condo

• Monthly dues: $420 · $5,040/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-13
   statusdays on market $59,000 Pending 35 DOM
2. 2026-06-09
   days on market $59,000 Active 33 DOM
3. 2026-06-08
   days on market $59,000 Active 32 DOM
4. 2026-06-07
   days on market $59,000 Active 31 DOM
5. 2026-06-04
   days on market $59,000 Active 28 DOM
6. 2026-06-03
   days on market $59,000 Active 27 DOM
7. 2026-06-02
   days on market $59,000 Active 26 DOM
8. 2026-06-01
   days on market $59,000 Active 25 DOM
9. 2026-05-31
   days on market $59,000 Active 24 DOM
10. 2026-05-12
    price $59,000
11. 2026-04-26
    listed $89,900 Active
12. 2026-04-24
    historical
13. 2026-04-02
    price $89,900
14. 2025-10-31
    listed $102,000 Active
15. 2002-10-03
    soldstatus $27,000 157-char remark

    Show marketing remark (157 chars)

    GREAT 1BR/1BA CONDO WITH CERAMIC TILE, HAS BEEN WELL CARED FOR, HAS SIDE BY SIDE REFRIG, NEW A/C HANDLER, HURRICANE AWNINGS & WROL-UPS. GOOD 1ST FL UNIT.

16. 2002-09-04
    historical 157-char remark

    Show marketing remark (157 chars)

    GREAT 1BR/1BA CONDO WITH CERAMIC TILE, HAS BEEN WELL CARED FOR, HAS SIDE BY SIDE REFRIG, NEW A/C HANDLER, HURRICANE AWNINGS & WROL-UPS. GOOD 1ST FL UNIT.

17. 2002-07-05
    listed $29,000 157-char remark

    Show marketing remark (157 chars)

    GREAT 1BR/1BA CONDO WITH CERAMIC TILE, HAS BEEN WELL CARED FOR, HAS SIDE BY SIDE REFRIG, NEW A/C HANDLER, HURRICANE AWNINGS & WROL-UPS. GOOD 1ST FL UNIT.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $20,494
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$1,640
• − Management: −$1,640
• − HOA: −$5,040
• − Depreciation: −$1,716
• Taxable income: $5,974
• Est. tax owed @ 24.0%: −$1,434
• After-tax cash flow: $4,824/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.

Condition & rehab AI · 11 photos

Fair 45/100 Cosmetic rehab

This 1-bedroom, 1-bath condo is in fair condition with average interior and exterior features. It requires minor repairs and maintenance to enhance its value.

Repairs flagged

• Minor ceiling fan — dust and debris
• Minor light fixture — dust and debris
• Minor ceiling — dust and debris

Value-add opportunities

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics
• Both replace ceiling fan and light fixture — new fixtures improve functionality and aesthetics
• Both clean and maintain HVAC system — clean and functional HVAC system improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
ceiling fan · dust and debris	Minor	$500–3,000
light fixture · dust and debris	Minor	$500–3,000
ceiling · dust and debris	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace ceiling fan and light fixture — new fixtures improve functionality and aesthetics ↑
• Both clean and maintain HVAC system — clean and functional HVAC system improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• Census place: Palm Springs, FL
• County: Palm Beach County · 1,438,312 people
• City population: 129,577
• 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

+103.4% since first listed

8 events — show timeline

• 2026-05-12 Price Changed $59,000 MARMLS
• 2026-04-26 Listed $89,900 MARMLS
• 2026-04-24 Listing Removed — MARMLS
• 2026-04-02 Price Changed $89,900 MARMLS
• 2025-10-31 Listed $102,000 MARMLS
• 2002-10-03 Sold (MLS) $27,000 Beaches MLS
• 2002-09-04 Listing Removed — Beaches MLS
• 2002-07-05 Listed $29,000 Beaches MLS