139 Sparrow Dr Unit 2c · Royal Palm Beach, FL 33411

$205,000

2 bd · 1.5 ba · 1,000 sqft · Condo public records · 81 Days on market

Built 1979 $351/mo HOA · 16% 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 +11.9/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• DSCR +3.5/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

Beatifull Townhouse Awaits! 2-bedroom, 1.5-bath townhouse. Located on a quiet, safe street with easy access to main roads. Very easy to show, come see it for yourself!

Key facts

• $351 HOA
• Parking
• Community pool

Property features AI

Finance

• HOA & community: Community association: Royal Village Townhouses Condo Association; Monthly HOA dues (approx.): $351; Association covers maintenance of grounds, sewer, trash, water, and pool service; Community amenities include a pool and sidewalks; Pets allowed with breed restrictions

Exterior

• Parking: One parking space; No carport
• Utilities: Public water; Public sewer; Cable available; Water available; Sewer available
• Home design: Condominium; Two-story building; Facing north; Resale condition
• Construction: CBS construction; Composition/shingle roof; Built using public-records building area
• Exterior features: Open patio; Patio

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: Two main-level bedrooms
• Flooring: Ceramic tile; Wood
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central electric heating; Central electric cooling (Central Air)
• Interior features: No notable built-in interior features listed; Unfurnished
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $205k.

Deal economics

• At list price, monthly cash flow is $-478 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $136k (33.8% below list).
• Meets the 1% rule at list price ($2k rent vs $205k).
• Recommended offer: $136k (33.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 79/100 on livability (#135 in FL, #2,039 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living C-, 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: Cypress Trails Elementary School (math 52% / reading 62%, grade C+, #781 of 2,144 statewide, top 38%, 492 students, 53% FRL); Crestwood Community Middle (math 49% / reading 52%, grade C, #246 of 571 statewide, top 44%, 724 students, 50% FRL); Royal Palm Beach High School (math 22% / reading 38%, grade F, #441 of 667 statewide, top 67%, 2,343 students, 57% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents flat; 583 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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 $67k; list at $205k implies a 206% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $135,768 (33.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. 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: 1.06% ✓
• Cap rate: 5.99%
• Cash-on-cash: -1.09%
• DSCR: 0.95
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 2.34×
• Total profit: $77,086
• Equity at exit: $184,680

10-year hold

• IRR: 15.2%
• Equity multiple: 5.24×
• Total profit: $243,448
• Equity at exit: $398,270

Cash invested: $57,400 (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 33411

• Home prices YoY: 1.9%
• Rents YoY: 0.8%
• Active inventory: 583
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,172 high
• Mortgage (P&I): −$1,075
• Tax est. 1.5%: −$256 /mo · $3,075/yr
• Insurance: −$85
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$351
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $-478

Break-even live

Break-even rent $2,778

Max offer price $135,768

Occupancy floor —

Sensitivity live

Price	-10% $-337	-5% $-408	+0% $-478	+5% $-549	+10% $-620
Rent	-10% $-650	-5% $-564	+0% $-478	+5% $-393	+10% $-307
Rate	-1.0pp $-375	-0.5pp $-426	base $-478	+0.5pp $-532	+1.0pp $-586

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
139 Sparrow Dr Royal Palm Beach, FL	2.0–3.0	1.5–2.5	1100	$1,850	$1.68	17d	3	0.01mi
120 Sparrow Dr #205 Royal Palm Beach, FL	2.0	2.0	793	$2,200	$2.77	26d	1	0.18mi
120 Sparrow Dr Royal Palm Beach, FL	2.0	2.0–2.5	793	$2,200	$2.77	24d	2	0.18mi
73 Macadamia Ct Royal Palm Beach, FL	2.0	2.0	1112	$2,000	$1.80	13d	1	0.33mi
182 Sparrow Dr Unit A Royal Palm Beach, FL	3.0	2.0	1485	$3,000	$2.02	26d	1	0.37mi
1601 Lakeview Dr W Unit 1601 Royal Palm Beach, FL	3.0	2.5	1296	$2,375	$1.83	24d	1	0.39mi
110 Weybridge Cir Unit A Royal Palm Beach, FL	2.0	2.5	1470	$2,350	$1.60	24d	1	0.40mi
1407 Lakeview Dr E Royal Palm Beach, FL	2.0	2.0	1165	$2,300	$1.97	9d	1	0.44mi
7 Greenway Vlg N #107 Royal Palm Beach, FL	1.0	1.5	780	$1,650	$2.12	6d	1	0.49mi
7 Greenway Vlg N Royal Palm Beach, FL	1.0–2.0	1.5–2.0	930	$1,700	$1.83	19d	2	0.49mi
2 Greenway Vlg N #210 Royal Palm Beach, FL	2.0	2.0	1080	$2,000	$1.85	26d	1	0.50mi
132 Weybridge Cir Royal Palm Beach, FL	2.0	2.5	1470	$3,000	$2.04	26d	1	0.52mi
202 Sparrow Dr #1 Royal Palm Beach, FL	3.0	2.0	1020	$2,400	$2.35	26d	1	0.53mi
4 Greenway Vlg N #203 Royal Palm Beach, FL	2.0	2.0	1080	$2,000	$1.85	26d	1	0.54mi
210 Sparrow Dr #4 Royal Palm Beach, FL	2.0	2.0	930	$1,900	$2.04	22d	1	0.57mi
263 Deerfield Ct Royal Palm Beach, FL	2.0	2.0	1120	$1,800	$1.61	26d	1	0.64mi
1803 Palm Beach Trace Dr Royal Palm Beach, FL	2.0	2.0	1201	$2,000	$1.67	20d	1	0.64mi
12007 Poinciana Blvd #205 Royal Palm Beach, FL	2.0	2.0	1088	$1,590	$1.46	17d	1	0.65mi
1605 Palm Beach Trace Dr Royal Palm Beach, FL	2.0	2.0	1201	$2,100	$1.75	14d	1	0.66mi
905 Palm Beach Trace Dr Royal Palm Beach, FL	1.0	2.0	1201	$1,700	$1.42	26d	1	0.67mi
180 Heatherwood Dr Royal Palm Beach, FL	3.0	2.0	1462	$2,710	$1.85	7d	1	0.68mi
12002 Poinciana Blvd #204 Royal Palm Beach, FL	2.0	2.0	1048	$1,750	$1.67	26d	1	0.68mi
145 Prestige Dr Royal Palm Beach, FL	3.0	2.0	1464	$2,900	$1.98	19d	1	0.69mi
4 W Greenway Dr Unit 201 Royal Palm Beach, FL	1.0	1.5	780	$1,450	$1.86	26d	1	0.80mi
43 Essex Ct Unit A Royal Palm Beach, FL	2.0	2.5	1398	$2,500	$1.79	26d	1	0.80mi
118 Bobwhite Rd Royal Palm Beach, FL	3.0	2.0	1444	$3,200	$2.22	19d	1	0.83mi
10863 Dalmany Way Royal Palm Beach, FL	3.0	2.0	1232	$3,500	$2.84	26d	1	0.84mi
36 Danbury Ct Unit B Royal Palm Beach, FL	2.0	2.5	1398	$2,300	$1.65	13d	1	0.85mi
1049 Grandview Cir Royal Palm Beach, FL	3.0	2.0	792	$3,100	$3.91	19d	1	0.90mi
830 Royal Palm Beach Blvd Royal Palm Beach, FL	3.0	2.0	1369	$2,686	$1.96	1d	1	0.99mi
201 Seminole Lakes Dr Royal Palm Beach, FL	1.0	1.0	800	$1,400	$1.75	26d	1	1.01mi
216 Cordoba Cir Royal Palm Beach, FL	3.0	2.0	1461	$3,440	$2.35	1d	1	1.04mi
11823 Dahlia Dr Royal Palm Beach, FL	3.0	2.0	1385	$2,331	$1.68	1d	1	1.19mi
151 Cordoba Cir Royal Palm Beach, FL	3.0	2.0	1421	$3,300	$2.32	26d	1	1.25mi
81 Westecunk Dr Royal Palm Beach, FL	2.0	2.0	1347	$2,550	$1.89	19d	1	1.27mi
280 Crestwood Cir #204 Royal Palm Beach, FL	2.0	2.0	1024	$2,150	$2.10	17d	1	1.36mi
10336 Fox Trail Rd S #1305 West Palm Beach, FL	2.0	2.0	1048	$2,100	$2.00	26d	1	1.38mi
10324 Fox Trail Rd S Unit 324 Royal Palm Beach, FL	2.0	2.0	1048	$1,900	$1.81	26d	1	1.38mi
10354 Fox Trail Rd S #1501 West Palm Beach, FL	2.0	2.0	1048	$2,000	$1.91	19d	1	1.38mi
10360 Fox Trail Rd S #1602 West Palm Beach, FL	2.0	2.0	1048	$1,920	$1.83	22d	1	1.39mi

HOA detail condo

• Monthly dues: $351 · $4,212/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-21
   days on market $205,000 Active 81 DOM
2. 2026-06-18
   days on market $205,000 Active 78 DOM
3. 2026-06-17
   days on market $205,000 Active 77 DOM
4. 2026-06-16
   days on market $205,000 Active 76 DOM
5. 2026-06-15
   days on market $205,000 Active 75 DOM
6. 2026-06-13
   days on market $205,000 Active 73 DOM
7. 2026-06-09
   days on market $205,000 Active 69 DOM
8. 2026-06-08
   days on market $205,000 Active 68 DOM
9. 2026-06-07
   days on market $205,000 Active 67 DOM
10. 2026-06-04
    days on market $205,000 Active 64 DOM
11. 2026-06-03
    days on market $205,000 Active 63 DOM
12. 2026-06-02
    days on market $205,000 Active 62 DOM
13. 2026-06-01
    days on market $205,000 Active 61 DOM
14. 2026-05-31
    days on market $205,000 Active 60 DOM
15. 2026-05-02
    historical $1,850
16. 2026-04-01
    listed $205,000 Active
17. 2026-03-25
    listed $1,850
18. 2026-03-25
    historical $1,850
19. 2026-03-08
    listed $1,850
20. 2026-02-17
    historical $1,850
21. 2026-02-15
    listed $1,850
22. 2009-12-22
    historical
23. 2009-08-31
    listed $80,000
24. 2002-05-10
    soldstatus $67,000
25. 1995-12-28
    soldstatus $41,000
26. 1988-12-29
    soldstatus $39,000

ⓘ 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 4/10 Moderate FEMA zone AE · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $26,063
• − Mortgage interest: −$11,483
• − Property taxes: −$3,075
• − Insurance: −$6,144
• − Repairs & maintenance: −$2,085
• − Management: −$2,085
• − HOA: −$4,212
• − Depreciation: −$5,964
• Taxable loss: −$8,985
• Est. tax savings @ 24.0%: +$2,156
• After-tax cash flow: $-3,585/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 — Royal Palm Beach

• Score: 79/100
• State rank: #135
• US rank: #2039

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Royal Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 60,184
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 76,863
• Household income: $92,591
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 1870.0

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 0.70)
• Race & ethnicity: White 44% Hispanic / Latino 24% Black 23% Two or more races 16% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 4% Dominican 2%
• Common ancestry: Hispanic 6% Romanian 2% Italian 1%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 17% French/Haitian/Cajun 4% 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: ▲ 17.04%
• Current HPI: 903.78
• Rent YoY: ▲ 0.85%
• 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

-95.3% since first listed

12 events — show timeline

• 2026-05-02 Rental Removed $1,850 RMLSFL
• 2026-04-01 Listed $205,000 Beaches MLS
• 2026-03-25 Listed for Rent $1,850 RMLSFL
• 2026-03-25 Rental Removed $1,850 RMLSFL
• 2026-03-08 Listed for Rent $1,850 RMLSFL
• 2026-02-17 Rental Removed $1,850 RMLSFL
• 2026-02-15 Listed for Rent $1,850 RMLSFL
• 2009-12-22 Listing Removed — Beaches MLS
• 2009-08-31 Listed $80,000 Beaches MLS
• 2002-05-10 Sold (Public Records) $67,000 Public Records
• 1995-12-28 Sold (Public Records) $41,000 Public Records
• 1988-12-29 Sold (Public Records) $39,000 Public Records

Property tax history

-6.1%/yr

Latest (2025): $289 · +7.1% YoY. Source: county tax records.