111 Madrid St · Royal Palm Beach, FL 33411

$585,000

3 bd · 2.0 ba · 1,414 sqft · SingleFamily public records · 63 Days on market

Built 1983

---

Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +7.3/30.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• 1% rule +0.9/10.0

Listing remarks

Highly motivated seller! Don't miss this opportunity to own a beautifully maintained 3-bedroom, 2-bath single-family home in the desirable community of La Mancha. This bright and spacious residence offers a 2021 roof and A/C less than 4 years old, providing peace of mind. Enjoy a fully fenced backyard with a spectacular pool, fire pit with seating, and ample space for outdoor entertaining: two-car garage, great layout, and no HOA. Conveniently located near shopping, dining, and major roads. Move-in ready and easy to show. Schedule your private showing today!

Key facts

• 2021 roof
• Spectacular pool
• Two-car garage

Tags

• 2021 ROOF
• A/C LESS THAN 4 YEARS OLD
• FULLY FENCED BACKYARD
• SPECTACULAR POOL
• FIRE PIT WITH SEATING
• TWO-CAR GARAGE

Property features AI

Finance

• HOA & community: Community amenities include jogging path and sidewalks; Pets allowed with no restrictions

Exterior

• Parking: Attached 2-car garage; Additional 4 open parking spaces; Covered parking for 2 vehicles
• Utilities: Public sewer; Sewer available
• Home design: Single family residence; One story; Resale property; Faces south
• Construction: Built with CBS construction materials; Composition/Shingle roof; Public records list building area
• Exterior features: Porch; Fenced yard; Fruit trees on lot; Private in-ground pool

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Ceramic tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Walk-in closets; Fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $585k.

Deal economics

• At list price, monthly cash flow is $-784 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $446k (23.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $346k (40.9% below list).
• Recommended offer: $346k (40.9% below list) — sets the bar for 1% rule.

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: H. L. Johnson Elementary School (math 70% / reading 69%, grade A-, #364 of 2,144 statewide, top 19%, 817 students, 40% 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 49% FRL track the district average.
• Market conditions: Rents flat; 574 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).
• This rent runs 45% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $63k of equity ($4k loan paydown + $58k 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 ~$101k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($550k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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 $175k; list at $585k implies a 234% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $345,788 (40.9% 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 63 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.59% ✗
• Cap rate: 4.68%
• Cash-on-cash: -5.74%
• DSCR: 0.74
• GRM: 14.1

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: 19.7%
• Equity multiple: 2.59×
• Total profit: $261,067
• Equity at exit: $527,014

10-year hold

• IRR: 17.7%
• Equity multiple: 5.85×
• Total profit: $793,941
• Equity at exit: $1,136,526

Cash invested: $163,800 (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: 574
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $3,458 high
• Mortgage (P&I): −$3,068
• Tax from tax record: −$204 /mo · $2,452/yr
• Insurance: −$244
• HOA: −$0
• Vacancy / Maint / Mgmt: −$726
• Net cashflow: $-784

Break-even live

Break-even rent $4,451

Max offer price $446,471

Occupancy floor —

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: $146,250
• Closing costs: $17,550
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
113 Madrid St Royal Palm Beach, FL	3.0	3.0	1720	$4,500	$2.62	10d	1	0.02mi
113 Madrid St Royal Palm Beach, FL	4.0	3.0	1720	$4,500	$2.62	24d	1	0.02mi
100 Miramar Ave Royal Palm Beach, FL	3.0	2.0	1812	$3,600	$1.99	24d	1	0.38mi
240 Bilbao St Royal Palm Beach, FL	3.0	2.0	1440	$3,400	$2.36	24d	1	0.49mi
221 Bilbao St Royal Palm Beach, FL	3.0	2.0	1657	$3,700	$2.23	24d	1	0.60mi
190 Parkwood Dr Royal Palm Beach, FL	3.0	2.0	1644	$3,200	$1.95	24d	1	0.66mi
212 Trace Ct Royal Palm Beach, FL	3.0	2.0	1740	$3,050	$1.75	5d	1	0.67mi
151 Cordoba Cir Royal Palm Beach, FL	3.0	2.0	1421	$3,300	$2.32	24d	1	0.74mi
81 Westecunk Dr Royal Palm Beach, FL	2.0	2.0	1347	$2,550	$1.89	18d	1	0.77mi
216 Cordoba Cir Royal Palm Beach, FL	3.0	2.0	1461	$3,080	$2.11	8d	1	0.85mi
101 Fairway Ln Royal Palm Beach, FL	3.0	2.5	1684	$3,300	$1.96	22d	1	0.97mi
145 Prestige Dr Royal Palm Beach, FL	3.0	2.0	1464	$2,900	$1.98	17d	1	0.97mi
36 Danbury Ct Unit B Royal Palm Beach, FL	2.0	2.5	1398	$2,300	$1.65	11d	1	1.00mi
1605 Palm Beach Trace Dr Royal Palm Beach, FL	2.0	2.0	1201	$2,100	$1.75	13d	1	1.00mi
43 Essex Ct Unit A Royal Palm Beach, FL	2.0	2.5	1398	$2,500	$1.79	24d	1	1.01mi
1803 Palm Beach Trace Dr Royal Palm Beach, FL	2.0	2.0	1201	$2,000	$1.67	19d	1	1.02mi
180 Heatherwood Dr Royal Palm Beach, FL	3.0	2.0	1462	$2,710	$1.85	5d	1	1.09mi
1407 Lakeview Dr E Royal Palm Beach, FL	2.0	2.0	1165	$2,300	$1.97	8d	1	1.22mi
1601 Lakeview Dr W Unit 1601 Royal Palm Beach, FL	3.0	2.5	1296	$2,375	$1.83	22d	1	1.27mi
210 Sparrow Dr #4 Royal Palm Beach, FL	2.0	2.0	930	$1,900	$2.04	21d	1	1.38mi
202 Sparrow Dr #1 Royal Palm Beach, FL	3.0	2.0	1020	$2,400	$2.35	24d	1	1.42mi
182 Sparrow Dr Unit A Royal Palm Beach, FL	3.0	2.0	1485	$3,000	$2.02	24d	1	1.46mi
202 Lakeside Landing Dr Royal Palm Beach, FL	3.0	2.5	1532	$3,200	$2.09	4d	1	1.47mi

Listing history 19 events

1. 2026-05-04
   status Pending
2. 2026-04-20
   price $585,000
3. 2026-03-23
   price $599,999
4. 2026-03-02
   listed $610,000 Active
5. 2014-10-14
   historical
6. 2013-09-21
   historical
7. 2012-11-13
   soldstatus $175,000
8. 2012-11-09
   historical
9. 2012-05-22
   listed $175,000
10. 2012-05-21
    historical
11. 2012-05-15
    listed $175,000
12. 2008-01-09
    historical
13. 2007-02-24
    listed $275,000
14. 2006-11-09
    listed $355,000
15. 2006-08-17
    listed $395,000
16. 2006-01-18
    soldstatus $310,000
17. 1998-01-30
    soldstatus $114,000
18. 1986-03-01
    soldstatus $82,500
19. 1983-08-01
    soldstatus $13,000

ⓘ 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: $2,452 · $204/mo
• Projected year-2 tax: $4,856 · $405/mo
• Expected delta: +$2,403/yr (+$200/mo · 98.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,495
• − Mortgage interest: −$32,769
• − Property taxes: −$2,452
• − Insurance: −$2,925
• − Repairs & maintenance: −$3,320
• − Management: −$3,320
• − Depreciation: −$17,018
• Taxable loss: −$20,309
• Est. tax savings @ 24.0%: +$4,874
• After-tax cash flow: $-4,536/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: 75,299
• 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

+4400.0% since first listed

19 events — show timeline

• 2026-05-04 Pending — Beaches MLS
• 2026-04-20 Price Changed $585,000 Beaches MLS
• 2026-03-23 Price Changed $599,999 Beaches MLS
• 2026-03-02 Listed $610,000 Beaches MLS
• 2014-10-14 Listing Removed — Beaches MLS
• 2013-09-21 Listing Removed — Beaches MLS
• 2012-11-13 Sold (MLS) $175,000 Beaches MLS
• 2012-11-09 Listing Removed — Beaches MLS
• 2012-05-22 Listed $175,000 Beaches MLS
• 2012-05-21 Listing Removed — Beaches MLS
• 2012-05-15 Listed $175,000 Beaches MLS
• 2008-01-09 Listing Removed — Beaches MLS
• 2007-02-24 Listed $275,000 Beaches MLS
• 2006-11-09 Listed $355,000 Beaches MLS
• 2006-08-17 Listed $395,000 Beaches MLS
• 2006-01-18 Sold (Public Records) $310,000 Public Records
• 1998-01-30 Sold (Public Records) $114,000 Public Records
• 1986-03-01 Sold (Public Records) $82,500 Public Records
• 1983-08-01 Sold (Public Records) $13,000 Public Records

Property tax history

-1.7%/yr

Latest (2025): $2,452 · +3.6% YoY. Source: county tax records.