5981 Vía Vermilya #106 · Atlantis, FL 33462

$195,000

2 bd · 2.0 ba · 1,130 sqft · Condo public records · 48 Days on market

Built 1980 $555/mo HOA · 25% 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 +12.6/30.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +4.3/10.0
• DSCR +3.7/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

IF LOOKING FOR A SPACIOUS 2/2 CONDO ON THE FIRST FLOOR, WITH YOUR PARKING SPOT RIGHT OUTSIDE YOUR FRONT DOOR, THEN CHECK OUT UNIT 106!! THIS CONDO UNDER AIR IS 1,130' PLUS YOUR SCREENED IN PORCH THAT LOOKS OUT TO A FABULOUS POOL AREA AND HUGE GRASSY AREA TO ENJOY!! UNIT FEATURES INCLUDE NEW CARPETING 2025 IN LIVING AREA'S, MASTER BEDROOM IS HUGE 18.8' X 12' WITH WALK IN CLOSET, 2 SINKS AREA'S AND UPGRADED SHOWER. ROOF 2021, AC 2020, WATER HEATER 2018, DISHWASHER 2017. OWNER WILL INSTALL A WASHER/DRYER PRIOR TO CLOSING. ALL ROOMS HAVE SOME SPECIAL FEATURES AND QUITE ATTRACTIVE, PLUS 2 VERY SPACIOUS HALLWAY CLOSETS!! SO DEFINITELY COME CHECK IT OUT. OLYMPIC VILLAGE IS CENTRALLY LOCATED, CLOS

Key facts

• Huge grassy area
• Screened in porch
• New carpeting

Tags

• FIRST FLOOR
• PARKING SPOT
• SCREENED IN PORCH
• FABULOUS POOL AREA
• HUGE GRASSY AREA
• NEW CARPETING

Property features AI

Finance

• Other: Resale condition; Building name: Olympus Village
• HOA & community: Community of 64 units; HOA managed by Crest Management Group; Monthly HOA fee (includes cable TV, insurance, sewer, trash and water); Community amenities: pool, elevator(s), parking, basketball court

Exterior

• Parking: 2 total parking spaces; Assigned parking and guest spaces; 1 open parking space
• Security: Fire alarm; Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; One level; North-facing
• Construction: CBS construction; Other roof
• Exterior features: Screened porch; Porch; Paved road frontage; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central electric heating; Central air conditioning (electric)
• Interior features: Built-in features; Walk-in closet(s); Split bedroom layout; Custom mirrors; Drapes, sliding and shuttered windows
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $-26 ($-312/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (2.4% below list).
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#390 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: Starlight Cove Elementary School (math 40% / reading 31%, grade F, #1,684 of 2,144 statewide, top 79%, 737 students, 77% FRL); Lantana Middle School (math 21% / reading 36%, grade F, #482 of 571 statewide, top 85%, 801 students, 78% FRL); Santaluces Community High (math 22% / reading 39%, grade F, #434 of 667 statewide, top 66%, 2,675 students, 61% FRL) — zoned schools average 72% FRL vs 52% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 50% district-wide (-18 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 fast (+4.1%/yr); 384 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 35% 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 $6k 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 48 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $53k; list at $195k implies a 268% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: moderate flood risk; 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 $189,150 (3.0% 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 48 days. Have you received any prior offers? Is the seller open to a 3% 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. 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 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: 1.12% ✓
• Cap rate: 6.13%
• Cash-on-cash: -0.57%
• DSCR: 0.97
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.09% rent growth · sell at horizon

5-year hold

• IRR: -15.5%
• Equity multiple: 0.44×
• Total profit: $-30,553
• Equity at exit: $29,075

10-year hold

• IRR: -4.6%
• Equity multiple: 0.68×
• Total profit: $-17,446
• Equity at exit: $16,860

Cash invested: $54,600 (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 33462

• Rents YoY: 4.1%
• Active inventory: 384
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,182 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$91 /mo · $1,094/yr
• Insurance: −$81
• HOA: −$555
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $-26

Break-even live

Break-even rent $2,215

Max offer price $190,413

Occupancy floor 96%

Sensitivity live

Price	-10% $84	-5% $29	+0% $-26	+5% $-81	+10% $-136
Rent	-10% $-198	-5% $-112	+0% $-26	+5% $60	+10% $146
Rate	-1.0pp $72	-0.5pp $24	base $-26	+0.5pp $-76	+1.0pp $-128

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5981 Via Vermilya #203 Lake Worth, FL	2.0	2.0	1130	$1,975	$1.75	26d	1	0.02mi
6175 Reflections Blvd Lake Worth, FL	1.0–2.0	1.0–2.0	814	$2,307	$2.83	1d	16	0.21mi
2780 Norfolk Pine Ct Lake Worth, FL	2.0	2.0	1175	$2,400	$2.04	26d	1	0.34mi
6289 Lear Dr #203 Lake Worth, FL	3.0	2.0	1044	$2,200	$2.11	26d	1	0.41mi
6289 Lear Dr Lake Worth, FL	1.0–3.0	1.0–2.0	792	$1,975	$2.49	16d	2	0.42mi
2566 South Dr Unit 306 Lake Worth Beach, FL	1.0	1.0	744	$1,850	$2.49	9d	1	0.90mi
2640 South Dr Unit 301 Lake Worth Beach, FL	2.0	1.0	894	$1,500	$1.68	20d	1	0.90mi
2640 South Dr Unit 301 Lake Worth Beach, FL	2.0	1.0	894	$1,500	$1.68	16d	1	0.90mi
64 Paxford Ln Boynton Beach, FL	3.0	2.0	1487	$3,800	$2.56	1d	1	1.13mi
58 Paxford Ln Boynton Beach, FL	2.0	2.0	1230	$900	$0.73	14d	1	1.18mi
835 Andrew Redding Rd #1 Lantana, FL	2.0	2.0	875	$2,800	$3.20	26d	1	1.18mi
580 Tallulah Rd Lake Worth, FL	2.0	1.0	750	$2,500	$3.33	24d	1	1.18mi
6511 Seminole Dr Unit 2 Atlantis, FL	2.0	1.0	845	$2,150	$2.54	7d	1	1.19mi
3883 Island Club Cir W Lake Worth, FL	3.0	2.5	1308	$2,400	$1.83	19d	1	1.20mi
712 Meadows Cir Boynton Beach, FL	2.0	2.0	921	$2,400	$2.61	26d	1	1.22mi
423 Pine Tree Ct #23 Lake Worth, FL	2.0	2.0	1222	$2,300	$1.88	24d	1	1.23mi
88 Buxton Ln Boynton Beach, FL	3.0	2.0	1448	$3,100	$2.14	26d	1	1.24mi
3195 Mcsherry Dr Unit 3195 Lake Worth Beach, FL	2.0	1.0	944	$2,300	$2.44	18d	1	1.29mi
2920 Cynthia Ln #203 Lake Worth, FL	1.0	1.0	734	$1,400	$1.91	18d	1	1.31mi
2920 Cynthia Ln #203 Lake Worth, FL	1.0	1.0	734	$1,350	$1.84	4d	1	1.31mi
2840 Lake Osborne Dr Lake Worth Beach, FL	2.0	1.0–2.0	819	$1,338	$1.63	18d	2	1.32mi
1036 S 14th St Lantana, FL	3.0	2.0	1362	$3,500	$2.57	26d	1	1.33mi
1420 Barton Rd Unit 1420w Lake Worth Beach, FL	2.0	1.0	990	$2,000	$2.02	12d	1	1.34mi
2840 Cynthia Ln #203 Lake Worth, FL	1.0	1.0	720	$1,190	$1.65	1d	1	1.34mi
1106 Meadows Cir Boynton Beach, FL	2.0	2.0	900	$1,850	$2.06	4d	1	1.34mi
1106 Meadows Cir Boynton Beach, FL	2.0	2.0	900	$1,895	$2.11	24d	1	1.34mi
4938 Serafica Dr Unit 14 Lake Worth Beach, FL	2.0	1.0	840	$2,000	$2.38	9d	1	1.34mi
1001 Water Tower Way Hypoluxo, FL	1.0–3.0	1.0–2.0	981	$2,368	$2.41	0d	24	1.37mi
1001 Water Tower Way Hypoluxo, FL	1.0–3.0	1.0–2.0	981	$2,336	$2.38	26d	25	1.37mi
900 Water Tower Way Lantana, FL	1.0–2.0	1.0–2.0	1176	$3,541	$3.01	0d	19	1.40mi
1205 Meadows Cir Boynton Beach, FL	2.0	2.0	909	$1,900	$2.09	26d	1	1.40mi
1120 Meadows Cir Unit 1120 Boynton Beach, FL	2.0	2.0	900	$1,980	$2.20	26d	1	1.40mi
1707 Meadows Cir W Unit W Boynton Beach, FL	1.0	1.0	704	$1,650	$2.34	4d	1	1.40mi
316 Meadows Cir #316 Boynton Beach, FL	2.0	2.0	921	$1,995	$2.17	1d	1	1.40mi
1617 Meadows Cir W Boynton Beach, FL	1.0	1.0	704	$1,700	$2.41	12d	1	1.40mi
605 S 12th St Lantana, FL	2.0	1.0	700	$1,950	$2.79	5d	1	1.41mi
6411 Birch Ln Lake Worth, FL	3.0	2.0	1200	$1,800	$1.50	26d	1	1.45mi
4833 Serafica Dr Lake Worth, FL	2.0	1.0	700	$1,900	$2.71	1d	1	1.45mi
4833 Serafica Dr Lake Worth, FL	2.0	1.0	700	$2,000	$2.86	7d	1	1.45mi
4800 Serafica Dr Unit 4794 Lake Worth Beach, FL	2.0	1.0	917	$1,749	$1.91	9d	1	1.46mi

HOA detail condo

• Monthly dues: $555 · $6,660/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $195,000 Active 48 DOM
2. 2026-06-17
   days on market $195,000 Active 47 DOM
3. 2026-06-16
   days on market $195,000 Active 46 DOM
4. 2026-06-15
   days on market $195,000 Active 45 DOM
5. 2026-06-13
   days on market $195,000 Active 43 DOM
6. 2026-06-09
   days on market $195,000 Active 39 DOM
7. 2026-06-08
   days on market $195,000 Active 38 DOM
8. 2026-06-07
   days on market $195,000 Active 37 DOM
9. 2026-06-04
   days on market $195,000 Active 34 DOM
10. 2026-06-03
    days on market $195,000 Active 33 DOM
11. 2026-06-02
    days on market $195,000 Active 32 DOM
12. 2026-06-01
    days on market $195,000 Active 31 DOM
13. 2026-05-31
    days on market $195,000 Active 30 DOM
14. 2026-05-01
    listed $195,000 Active
15. 2018-05-03
    soldstatus $53,000

ⓘ 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: $1,094 · $91/mo
• Projected year-2 tax: $1,618 · $135/mo
• Expected delta: +$525/yr (+$44/mo · 48.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 65% 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: $26,188
• − Mortgage interest: −$10,923
• − Property taxes: −$1,094
• − Insurance: −$975
• − Repairs & maintenance: −$2,095
• − Management: −$2,095
• − HOA: −$6,660
• − Depreciation: −$5,673
• Taxable loss: −$3,327
• Est. tax savings @ 24.0%: +$798
• After-tax cash flow: $487/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 — Atlantis

• Score: 71/100
• State rank: #390
• US rank: #6861

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,371
• Household income: $73,997
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1852.0

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 0.68)
• Race & ethnicity: White 44% Black 26% Hispanic / Latino 26% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5% Cuban 3%
• Common ancestry: Hispanic 14% Romanian 2% Scotch-Irish 2%
• Foreign-born: 31% · Canada, Jamaica, Dominican Republic
• Languages at home: 60% English-only · Spanish 20% French/Haitian/Cajun 16% 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: ▼ -295.48%
• Current HPI: 361.5391
• Rent YoY: ▲ 4.09%
• 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

+267.9% since first listed

2 events — show timeline

• 2026-05-01 Listed $195,000 Beaches MLS
• 2018-05-03 Sold (Public Records) $53,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $1,094 · +4.1% YoY. Source: county tax records.