2727 Anzio Ct #307

Palm Beach Gardens, FL 33410

$335,000D

3 bd · 2.0 ba · 1,316 sqft · Built 2005 · Condo · Active · 282 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,602/mo
• Mortgage (P&I): −$1,757
• Tax + insurance: −$511
• HOA: −$709
• Vac / Maint / Mgmt: −$756
• Net cashflow: $-131/mo
• Annual: $-1,572/yr
• Cap rate: 5.82%
• Cash-on-cash: -1.68%
• DSCR: 0.93
• 1% rule: 1.08%
• Cash to close: $93,800

Investor read

• This is a 3-bed/2.0-bath condo listed at $335k.
• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $312k (6.9% below list).
• Meets the 1% rule at list price ($4k rent vs $335k).
• It's been on market 282 days — a 12% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $295k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• 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: Dwight D. Eisenhower Elementary School (math 52% / reading 52%, grade C-, #990 of 2,144 statewide, top 48%, 432 students, 56% FRL); William T. Dwyer High School (math 36% / reading 58%, grade D-, #207 of 667 statewide, top 32%, 2,206 students, 37% FRL).
• Market conditions: Rents rising (+2.5%/yr); 309 active listings in the ZIP; 40 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).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 8 sale attempts since 18y ago; this cycle's ask is 12542% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $96k; list at $335k implies a 249% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $3,602/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.

Questions for listing agent

• 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?
• It's been on market 282 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?