301 Pine Ridge Cir Unit C-2 · Greenacres, FL 33463

$169,000

2 bd · 1.5 ba · 935 sqft · Condo public records · 13 Days on market

Built 1979 $433/mo HOA · 22% of rent

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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).

• Cash flow +10.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• DSCR +2.9/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Pleasant 2BR/1.5BA 2nd floor condo in the active 55+ community of Pine Ridge III. Enclosed porch is a great spot for morning coffee or for relaxing at the end of the day. Washer/Dryer in unit. Offered fully furnished. HOA fee includes cable/high speed internet. Pine Ridge III boasts clubhouse with heated pool, walking/jogging paths, bbq/picnic area, bocce and shuffleboard. Community is close to shopping, restaurants and not far from ocean beaches. Come see what the 55+ lifestyle is all about!

Key facts

• Quartz countertops
• Modern kitchen
• Italian tile

Tags

• MODERN KITCHEN
• NEW WHITE WOOD CABINETRY
• QUARTZ COUNTERTOPS
• ENERGY EFFICIENT APPLIANCES
• FULLY UPDATED BATHROOMS
• ITALIAN TILE

Property features AI

Finance

• Other: Senior community
• HOA & community: Association: Pine Ridge III; Monthly HOA fee; Association amenities include clubhouse, fitness center, jogging path, managed community, parking, shuffleboard, storage, tennis courts, on-site manager, bocce ball, heated pool, internet included, library, recreation facilities, and security; HOA fee covers cable TV, insurance, internet, grounds maintenance, security, trash, common areas, reserves, roof repairs, and recreation facility

Exterior

• Parking: Assigned parking; Guest parking; 2 parking spaces total
• Security: Community security (association-provided)
• Utilities: Public water; Public sewer; Electricity available (Three Phase); Cable available
• Home design: Condominium; Updated/remodeled resale unit; 2-story building; Entry-level living area present; Unit faces southeast
• Construction: CBS construction; Shingle roof
• Exterior features: Glass-enclosed patio/porch; Not waterfront

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom (2 total bathrooms on main level)
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Walk-in closets; Drapes; Tinted sliding windows; Glass-enclosed patio/porch
• Laundry & utility: In-unit laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $169k.

Deal economics

• At list price, monthly cash flow is $-94 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (9.8% below list).
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $152k (9.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 69/100 on livability (#490 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, 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: Liberty Park Elementary School (math 25% / reading 38%, grade F, #1,841 of 2,144 statewide, top 86%, 845 students, 76% FRL); L C Swain Middle School (math 26% / reading 33%, grade F, #469 of 571 statewide, top 84%, 1,451 students, 74% FRL) — zoned schools average 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% at this address vs 50% district-wide (-19 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.3%/yr); 346 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 32% of the median local income ($74k/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 $1k of loan paydown is wiped out by about $5k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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 $123k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• 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.

Recommended offer $152,418 (9.8% 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. Built in 1979 — 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. 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. 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?
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: 1.15% ✓
• Cap rate: 5.63%
• Cash-on-cash: -2.38%
• DSCR: 0.89
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.33% rent growth · sell at horizon

5-year hold

• IRR: -22.7%
• Equity multiple: 0.23×
• Total profit: $-36,264
• Equity at exit: $25,198

10-year hold

• IRR: -23.9%
• Equity multiple: -0.07×
• Total profit: $-50,754
• Equity at exit: $14,612

Cash invested: $47,320 (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 33463

• Home prices YoY: -30.9%
• Rents YoY: 1.3%
• Active inventory: 346
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,944 high
• Mortgage (P&I): −$886
• Tax from tax record: −$240 /mo · $2,880/yr
• Insurance: −$70
• HOA: −$433
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $-94

Break-even live

Break-even rent $2,063

Max offer price $152,418

Occupancy floor 100%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
342 Pine Ridge Cir Unit B2 Greenacres, FL	2.0	1.5	935	$2,200	$2.35	14d	1	0.07mi
3490 La Jardin Ct Unit B2 Greenacres, FL	1.0	1.0	780	$1,385	$1.78	2d	1	0.15mi
5971 La Pinata Blvd Unit B1 Greenacres, FL	2.0	1.0	920	$1,750	$1.90	24d	1	0.29mi
5855 S 37th St Unit 5857 Greenacres, FL	2.0	1.0	747	$1,974	$2.64	7d	1	0.31mi
6061 10th Ave N #242 Greenacres, FL	2.0	2.0	855	$2,000	$2.34	4d	1	0.51mi
6031 10th Ave N #219 Greenacres, FL	3.0	2.0	1078	$2,400	$2.23	3d	1	0.52mi
6170 Dodd Rd Unit The Greenacres, FL	2.0	2.0	1000	$2,600	$2.60	24d	1	0.59mi
5775 Fernley Dr W #131 West Palm Beach, FL	2.0	2.0	1072	$2,000	$1.87	10d	1	0.67mi
2980 Crosley Dr E Unit F West Palm Beach, FL	2.0	1.0	829	$1,600	$1.93	24d	1	0.67mi
4191 S 57th Ave Unit H Greenacres, FL	2.0	2.0	847	$1,750	$2.07	24d	1	0.71mi
4181 S 57th Ave Unit D Greenacres, FL	2.0	2.0	847	$1,850	$2.18	24d	1	0.71mi
826 Sky Pine Way Greenacres, FL	2.0–3.0	2.0	1304	$1,800	$1.38	12d	2	0.73mi
4205 S 57th Ave Unit G Greenacres, FL	2.0	2.0	1046	$1,900	$1.82	24d	1	0.74mi
2715 Emory Dr W Unit C West Palm Beach, FL	1.0	1.5	661	$1,425	$2.16	17d	1	0.75mi
813 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1111	$1,725	$1.55	14d	1	0.76mi
813 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1111	$1,725	$1.55	2d	1	0.76mi
2854 Crosley Dr E Unit J West Palm Beach, FL	1.0	1.0	612	$1,300	$2.12	24d	1	0.79mi
3045 Jackson Ave Greenacres, FL	2.0	1.0	900	$1,775	$1.97	24d	1	0.79mi
2783 Dudley Dr E Unit D West Palm Beach, FL	2.0	2.0	910	$1,650	$1.81	16d	1	0.80mi
812 Sky Pine Way Greenacres, FL	2.0	2.0	1064	$2,100	$1.97	24d	1	0.80mi
2805 Crosley Dr E Unit E West Palm Beach, FL	1.0	1.5	662	$1,250	$1.89	24d	1	0.80mi
629 Sea Pine Way Unit D3 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	21d	1	0.80mi
712 Sunny Pine Way Greenacres, FL	2.0	2.0	1068	$2,150	$2.01	24d	1	0.82mi
2723 Dudley Dr W Unit G West Palm Beach, FL	1.0	1.0	611	$1,300	$2.13	24d	1	0.82mi
811 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1064	$1,550	$1.46	20d	1	0.82mi
2647 Emory Dr W Unit C West Palm Beach, FL	1.0	1.0	612	$1,250	$2.04	24d	1	0.83mi
4904 Dillon St Unit C Greenacres, FL	1.0	1.0	699	$1,450	$2.07	24d	1	0.83mi
628 Sea Pine Way Unit A2 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	16d	1	0.84mi
802 Sky Pine Way Unit E2 Greenacres, FL	2.0	2.0	1111	$1,750	$1.58	7d	1	0.84mi
5443 Cresthaven Blvd Unit F West Palm Beach, FL	2.0	2.0	910	$1,550	$1.70	1d	1	0.86mi
2625 Emory Dr W Unit F West Palm Beach, FL	2.0	2.0	895	$1,700	$1.90	24d	1	0.86mi
2515 Emory Dr W Unit A West Palm Beach, FL	2.0	2.0	895	$1,700	$1.90	2d	1	0.90mi
2515 Emory Dr W Unit A West Palm Beach, FL	2.0	2.0	895	$1,750	$1.96	24d	1	0.90mi
2607 Dudley Dr W Unit L West Palm Beach, FL	1.0	1.0	611	$1,300	$2.13	7d	1	0.90mi
2951 Ashley Dr W Unit D West Palm Beach, FL	1.0	1.5	662	$1,450	$2.19	16d	1	0.91mi
2951 Ashley Dr W West Palm Beach, FL	1.0	1.5	662	$1,525	$2.30	20d	1	0.91mi
718 Sunny Pine Way Unit H2 Greenacres, FL	2.0	2.0	1111	$2,000	$1.80	20d	1	0.91mi
718 Sunny Pine Way Unit H2 Greenacres, FL	2.0	2.0	1111	$2,000	$1.80	5d	1	0.91mi
2731 Barkley Dr W Unit B West Palm Beach, FL	2.0	2.0	895	$1,800	$2.01	24d	1	0.91mi
703 Sunny Pine Way Unit G2 Greenacres, FL	2.0	2.0	1068	$2,000	$1.87	15d	1	0.92mi

HOA detail condo

• Monthly dues: $433 · $5,196/yr
• Likely covers: internetcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-18
   days on market $169,000 Active 13 DOM
2. 2026-06-17
   days on market $169,000 Active 12 DOM
3. 2026-06-16
   days on market $169,000 Active 11 DOM
4. 2026-06-15
   days on market $169,000 Active 10 DOM
5. 2026-06-13
   days on market $169,000 Active 8 DOM
6. 2026-06-09
   days on market $169,000 Active 4 DOM
7. 2026-06-08
   pricedays on market $169,000 Active 3 DOM
8. 2026-06-07
   remarks 695-char remark
9. 2026-06-07
   listed $172,500 Active 2 DOM

ⓘ 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: $2,880 · $240/mo
• Projected year-2 tax: $2,880 · $240/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 7 d/yr ≥105°F today · 24 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: $23,328
• − Mortgage interest: −$9,467
• − Property taxes: −$2,880
• − Insurance: −$845
• − Repairs & maintenance: −$1,866
• − Management: −$1,866
• − HOA: −$5,196
• − Depreciation: −$4,916
• Taxable loss: −$3,708
• Est. tax savings @ 24.0%: +$890
• After-tax cash flow: $-237/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 — Greenacres

• Score: 69/100
• State rank: #490
• US rank: #9008

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenacres, FL
• County: Palm Beach County · 1,438,312 people
• City population: 65,478
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 65,478
• Household income: $73,865
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 1466.0

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: Hispanic / Latino 38% Black 29% White 27% Two or more races 11% Asian 4%
• Hispanic origin (detail): Mexican 8% Puerto Rican 6% Cuban 5% Dominican 2%
• Common ancestry: Hispanic 15% Romanian 1% Slovak 1%
• Foreign-born: 39% · Canada, Jamaica, China
• Languages at home: 45% English-only · Spanish 32% French/Haitian/Cajun 17% 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: ▼ -175.33%
• Current HPI: 392.055
• Rent YoY: ▲ 1.33%
• 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

+301.2% since first listed

7 events — show timeline

• 2026-06-05 Listed $172,500 Beaches MLS
• 2022-04-29 Sold (Public Records) $123,000 Public Records
• 2022-04-12 Sold (MLS) $123,000 Beaches MLS
• 2022-01-31 Contingent — Beaches MLS
• 2022-01-04 Listed $119,900 Beaches MLS
• 2019-06-07 Sold (Public Records) $60,000 Public Records
• 1990-06-04 Sold (Public Records) $43,000 Public Records

Property tax history

+9.3%/yr

Latest (2025): $2,880 · -3.1% YoY. Source: county tax records.