623 Sea Pine Way Unit C1 · Greenacres, FL 33415

$179,000

2 bd · 2.0 ba · 1,005 sqft · Condo public records · 31 Days on market

Built 1982 $345/mo HOA · 17% 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 +10.8/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This first floor condo features 2 bedrooms, 2 updated bathrooms, tile and laminate throughout, master walk-in closet, screened porch. Brand new roof 2024. Washer and Dryer inside unit. Extra storage outside unit. Pine Ridge North II is an all-age community featuring a pool, tennis, shuffleboard, and a lovely walking path around lake.

Key facts

• Exterior storage
• First-floor condo
• Updated bathrooms

Tags

• FIRST-FLOOR CONDO
• UPDATED BATHROOMS
• SCREENED PORCH
• EXTERIOR STORAGE
• LAKESIDE WALKING PATH

Property features AI

Finance

• Other: Association pool
• Financial info: Pets allowed with restrictions
• HOA & community: Monthly association fee; Association amenities: Pool, Shuffleboard court, Tennis courts; Association covers management, common areas, cable TV, grounds maintenance, parking, pool(s), reserve fund, roof, trash

Exterior

• Parking: Two or more parking spaces
• Security: Fire sprinkler system
• Utilities: Has heating; Has cooling
• Home design: Attached property; 2 stories; Entry level: 1
• Construction: Block construction; Resale property
• Exterior features: Balcony; Patio; Screened patio

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; First-floor entry
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $179k.

Deal economics

• At list price, monthly cash flow is $-82 ($-985/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (8.1% below list).
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $164k (8.1% 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: Cholee Lake Elementary School (math 35% / reading 34%, grade F, #1,709 of 2,144 statewide, top 81%, 936 students, 72% FRL); Okeeheelee Middle School (math 34% / reading 40%, grade F, #399 of 571 statewide, top 71%, 1,377 students, 68% FRL); John I. Leonard High School (math 17% / reading 35%, grade F, #494 of 667 statewide, top 75%, 3,549 students, 67% FRL) — zoned schools average 69% FRL vs 52% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 50% district-wide (-17 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 soft (-1.6%/yr); 315 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 40% of the median local income ($61k/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

• It's been on market 31 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y 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.

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 $164,499 (8.1% 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 31 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
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: 5.74%
• Cash-on-cash: -1.97%
• DSCR: 0.91
• GRM: 7.3

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: -24.2%
• Equity multiple: 0.20×
• Total profit: $-39,925
• Equity at exit: $26,689

10-year hold

• IRR: -39.4%
• Equity multiple: -0.27×
• Total profit: $-63,431
• Equity at exit: $15,477

Cash invested: $50,120 (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 33415

• Rents YoY: -1.6%
• Active inventory: 315
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,050 high
• Mortgage (P&I): −$939
• Tax from tax record: −$343 /mo · $4,121/yr
• Insurance: −$75
• HOA: −$345
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $-82

Break-even live

Break-even rent $2,154

Max offer price $164,499

Occupancy floor 99%

Sensitivity live

Price	-10% $19	-5% $-31	+0% $-82	+5% $-133	+10% $-183
Rent	-10% $-244	-5% $-163	+0% $-82	+5% $-1	+10% $80
Rate	-1.0pp $8	-0.5pp $-37	base $-82	+0.5pp $-128	+1.0pp $-176

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
633 Sea Pine Way Unit C Greenacres, FL	2.0	2.0	1370	$2,450	$1.79	26d	1	0.11mi
628 Sea Pine Way Unit A2 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	18d	1	0.11mi
2641 Gately Dr W West Palm Beach, FL	2.0–3.0	2.5	1238	$1,800	$1.45	1d	2	0.12mi
629 Sea Pine Way Unit D3 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	23d	1	0.15mi
616 Sea Pine Way Unit C3 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	26d	1	0.18mi
527 Shady Pine Way Greenacres, FL	2.0	2.0	1115	$1,975	$1.77	1d	2	0.28mi
5775 Fernley Dr W #131 West Palm Beach, FL	2.0	2.0	1072	$2,000	$1.87	12d	1	0.28mi
813 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1111	$1,725	$1.55	16d	1	0.29mi
813 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1111	$1,725	$1.55	4d	1	0.29mi
802 Sky Pine Way Unit E2 Greenacres, FL	2.0	2.0	1111	$1,750	$1.58	9d	1	0.32mi
703 Sunny Pine Way Unit G2 Greenacres, FL	2.0	2.0	1068	$2,000	$1.87	17d	1	0.32mi
817 Sky Pine Way Unit H Greenacres, FL	2.0	2.0	1370	$2,300	$1.68	18d	1	0.33mi
2625 Emory Dr W Unit F West Palm Beach, FL	2.0	2.0	895	$1,700	$1.90	26d	1	0.33mi
826 Sky Pine Way Greenacres, FL	2.0–3.0	2.0	1304	$1,800	$1.38	0d	2	0.33mi
511 Shady Pine Way Unit D2 Greenacres, FL	2.0	2.0	1115	$2,200	$1.97	26d	1	0.34mi
511 Shady Pine Way Unit D2 Greenacres, FL	2.0	2.0	1115	$2,200	$1.97	5d	1	0.34mi
811 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1064	$1,550	$1.46	21d	1	0.36mi
508 Shady Pine Way Unit D1 Greenacres, FL	2.0	2.0	1115	$1,850	$1.66	23d	1	0.36mi
507 Shady Pine Way Unit D1 Greenacres, FL	1.0	1.0	788	$1,400	$1.78	16d	1	0.36mi
812 Sky Pine Way Greenacres, FL	2.0	2.0	1064	$2,100	$1.97	26d	1	0.38mi
502 Shady Pine Way Unit D2 Greenacres, FL	2.0	1.0	991	$1,900	$1.92	1d	1	0.40mi
5725 Fernley Dr E #65 West Palm Beach, FL	2.0	2.0	1300	$1,575	$1.21	23d	1	0.42mi
2515 Emory Dr W Unit A West Palm Beach, FL	2.0	2.0	895	$1,750	$1.96	26d	1	0.42mi
2515 Emory Dr W Unit A West Palm Beach, FL	2.0	2.0	895	$1,700	$1.90	4d	1	0.42mi
2206 Laurel Way West Palm Beach, FL	1.0–3.0	1.0–2.0	850	$1,975	$2.32	26d	3	0.42mi
5668 Albert Rd West Palm Beach, FL	3.0	2.0	1293	$3,800	$2.94	19d	1	0.42mi
504 Shady Pine Way Unit 2 Greenacres, FL	2.0	2.0	1111	$2,000	$1.80	26d	1	0.43mi
703 Sunny Pine Way Greenacres, FL	2.0	2.0	1068	$1,900	$1.78	26d	2	0.43mi
2212 White Pine Cir Unit B Greenacres, FL	3.0	2.5	1410	$2,600	$1.84	23d	1	0.44mi
726 Sunny Pine Way Unit B2 Greenacres, FL	3.0	2.0	1254	$2,200	$1.75	5d	1	0.45mi
712 Sunny Pine Way Greenacres, FL	2.0	2.0	1068	$2,150	$2.01	26d	1	0.46mi
5780 Fernley Dr W #91 West Palm Beach, FL	2.0	2.0	1324	$2,000	$1.51	26d	1	0.46mi
6115 Seven Springs Blvd Greenacres, FL	2.0	2.5	1325	$2,475	$1.87	7d	1	0.47mi
6115 Seven Springs Blvd Greenacres, FL	2.0	2.5	1325	$2,500	$1.89	20d	1	0.47mi
207 Foxtail Dr Unit E3 Greenacres, FL	2.0	2.0	1005	$1,900	$1.89	6d	1	0.47mi
6010 Sherwood Glen Way West Palm Beach, FL	1.0–2.0	1.0–2.0	942	$1,990	$2.11	1d	4	0.48mi
6043 10th Ave N #130 Greenacres, FL	3.0	2.0	1500	$2,300	$1.53	26d	1	0.48mi
2228 White Pine Cir Unit B Greenacres, FL	2.0	2.5	1252	$2,275	$1.82	15d	1	0.48mi
724 Sunny Pine Way Unit D2 Greenacres, FL	2.0	2.0	1111	$1,950	$1.76	26d	1	0.48mi
2221 White Pine Cir Greenacres, FL	2.0	2.5	1200	$1,800	$1.50	26d	1	0.48mi

HOA detail condo

• Monthly dues: $345 · $4,140/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-01
   days on market $179,000 Active 31 DOM
2. 2026-05-31
   days on market $179,000 Active 30 DOM
3. 2026-05-18
   status Active
4. 2026-01-26
   status Pending
5. 2026-01-09
   listed $179,000 Active
6. 2025-11-08
   historical $2,000
7. 2025-07-31
   listed $2,000
8. 2025-04-17
   historical $2,000
9. 2024-09-25
   soldstatus $254,000
10. 2024-09-23
    soldstatus $254,000 Closed 335-char remark

    Show marketing remark (335 chars)

    This first floor condo features 2 bedrooms, 2 updated bathrooms, tile and laminate throughout, master walk-in closet, screened porch. Brand new roof 2024. Washer and Dryer inside unit. Extra storage outside unit. Pine Ridge North II is an all-age community featuring a pool, tennis, shuffleboard, and a lovely walking path around lake.

11. 2024-08-15
    historical Active Under Contract 335-char remark

    Show marketing remark (335 chars)

    This first floor condo features 2 bedrooms, 2 updated bathrooms, tile and laminate throughout, master walk-in closet, screened porch. Brand new roof 2024. Washer and Dryer inside unit. Extra storage outside unit. Pine Ridge North II is an all-age community featuring a pool, tennis, shuffleboard, and a lovely walking path around lake.

12. 2024-08-13
    listed $249,000 Active 335-char remark

    Show marketing remark (335 chars)

    This first floor condo features 2 bedrooms, 2 updated bathrooms, tile and laminate throughout, master walk-in closet, screened porch. Brand new roof 2024. Washer and Dryer inside unit. Extra storage outside unit. Pine Ridge North II is an all-age community featuring a pool, tennis, shuffleboard, and a lovely walking path around lake.

13. 2024-08-08
    listed $2,000
14. 2017-03-02
    soldstatus $115,000
15. 2017-03-01
    soldstatus $115,000 Closed 633-char remark

    Show marketing remark (633 chars)

    Wow! Rare Find on the 1st Floor!!! Super Clean and ready to move in. Updated Kitchen, new lighting, AC 2012, Sliding doors in living room to out to a finished enclosed porch with new indoor outdoor carpet. Tile in Kitchen, dining room, hallway and bathrooms, carpet in the bedrooms and living room. Lots of natural light, Centrally located to major roads and schools! This unit also has a storage closet outside. Go enjoy yourself after work in the heated pool, play some shuffleboard, take a jog on the paths around the lake, play some tennis, have a bar-b-que by the park area. Lots of things to do in this development for fun.

16. 2017-01-24
    historical Contingent 633-char remark

    Show marketing remark (633 chars)

    Wow! Rare Find on the 1st Floor!!! Super Clean and ready to move in. Updated Kitchen, new lighting, AC 2012, Sliding doors in living room to out to a finished enclosed porch with new indoor outdoor carpet. Tile in Kitchen, dining room, hallway and bathrooms, carpet in the bedrooms and living room. Lots of natural light, Centrally located to major roads and schools! This unit also has a storage closet outside. Go enjoy yourself after work in the heated pool, play some shuffleboard, take a jog on the paths around the lake, play some tennis, have a bar-b-que by the park area. Lots of things to do in this development for fun.

17. 2017-01-24
    status Pending 633-char remark

    Show marketing remark (633 chars)

    Wow! Rare Find on the 1st Floor!!! Super Clean and ready to move in. Updated Kitchen, new lighting, AC 2012, Sliding doors in living room to out to a finished enclosed porch with new indoor outdoor carpet. Tile in Kitchen, dining room, hallway and bathrooms, carpet in the bedrooms and living room. Lots of natural light, Centrally located to major roads and schools! This unit also has a storage closet outside. Go enjoy yourself after work in the heated pool, play some shuffleboard, take a jog on the paths around the lake, play some tennis, have a bar-b-que by the park area. Lots of things to do in this development for fun.

18. 2017-01-17
    listed $115,000 Active 633-char remark

    Show marketing remark (633 chars)

    Wow! Rare Find on the 1st Floor!!! Super Clean and ready to move in. Updated Kitchen, new lighting, AC 2012, Sliding doors in living room to out to a finished enclosed porch with new indoor outdoor carpet. Tile in Kitchen, dining room, hallway and bathrooms, carpet in the bedrooms and living room. Lots of natural light, Centrally located to major roads and schools! This unit also has a storage closet outside. Go enjoy yourself after work in the heated pool, play some shuffleboard, take a jog on the paths around the lake, play some tennis, have a bar-b-que by the park area. Lots of things to do in this development for fun.

19. 1992-12-04
    soldstatus $40,000
20. 1989-07-07
    soldstatus $46,500

ⓘ 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: $4,121 · $343/mo
• Projected year-2 tax: $4,121 · $343/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 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: $24,601
• − Mortgage interest: −$10,027
• − Property taxes: −$4,121
• − Insurance: −$895
• − Repairs & maintenance: −$1,968
• − Management: −$1,968
• − HOA: −$4,140
• − Depreciation: −$5,207
• Taxable loss: −$3,725
• Est. tax savings @ 24.0%: +$894
• After-tax cash flow: $-91/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): 54,581
• Household income: $61,274
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 2254.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 53% Two or more races 26% White 21% Black 21% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 6% Cuban 14% Dominican 2% Salvadoran 1%
• Common ancestry: Hispanic 9% Romanian 1% Lithuanian 1%
• Foreign-born: 44% · Canada, Jamaica, Dominican Republic
• Languages at home: 40% English-only · Spanish 49% French/Haitian/Cajun 8% Other Indo-European 1%

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: ▼ -400.29%
• Current HPI: 413.9695
• Rent YoY: ▼ -1.64%
• 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

+284.9% since first listed

18 events — show timeline

• 2026-05-18 Relisted — MARMLS
• 2026-01-26 Pending — MARMLS
• 2026-01-09 Listed $179,000 MARMLS
• 2025-11-08 Rental Removed $2,000 GFLMLS
• 2025-07-31 Listed for Rent $2,000 GFLMLS
• 2025-04-17 Rental Removed $2,000 GFLMLS
• 2024-09-25 Sold (Public Records) $254,000 Public Records
• 2024-09-23 Sold (MLS) $254,000 Beaches MLS
• 2024-08-15 Contingent — Beaches MLS
• 2024-08-13 Listed $249,000 Beaches MLS
• 2024-08-08 Listed for Rent $2,000 GFLMLS
• 2017-03-02 Sold (Public Records) $115,000 Public Records
• 2017-03-01 Sold (MLS) $115,000 Beaches MLS
• 2017-01-24 Contingent — Beaches MLS
• 2017-01-24 Pending — Beaches MLS
• 2017-01-17 Listed $115,000 Beaches MLS
• 1992-12-04 Sold (Public Records) $40,000 Public Records
• 1989-07-07 Sold (Public Records) $46,500 Public Records

Property tax history

+14.8%/yr

Latest (2025): $4,121 · +10.3% YoY. Source: county tax records.