11037 Legacy Blvd #302 · Palm Beach Gardens, FL 33410

$414,000

2 bd · 2.0 ba · 1,403 sqft · Condo public records · 44 Days on market

Built 2003 $355/mo HOA · 9% 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 +11.1/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• 1% rule +4.2/10.0
• Livability +3.5/5.0
• DSCR +3.2/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BANK OWNED FORECLOSURE BEING SOLD IN ''AS IS'' CONDITION. SPACIOUS CONDO IN MOVE IN CONDITION. NICE VIEW OF THE LAKE AND SUNSETS. TO PLACE AN OFFER, PLEASE CLICK ON THE ATTACHMENT LINK & SEND DOCUMENTS WITH ALL OFFERS. THE FORM AND LIST OF REQUIREMENTS MUST BE SUBMITTED WITH ALL OFFERS. IF AN OFFER IS RECEIVED WITHOUT THE REQUIRED ATTACHMENTS, IT MAY JEOPARDIZE YOUR OFFER RECEIVING A RESPONSE.

Key facts

• Second floor
• Relaxing patio
• Recently remodeled

Tags

• SECOND FLOOR
• WALK IN CLOSET
• RECENTLY REMODELED
• RELAXING PATIO

Property features AI

Finance

• Financial info: Pets allowed with possible restrictions and number limits
• HOA & community: Community managed by GRS Community Management; Monthly association fee of $355; HOA covers maintenance of grounds, security, and common areas; Community amenities: clubhouse, fitness center, management on site, parking, pool, tennis courts, on-site manager, bike storage, business center, community room, sidewalks, street lights, gated entry, security

Exterior

• Parking: Assigned parking (total 1 space); No carport
• Security: Fire sprinkler system; Smoke detectors; Security system; Gated community (no guard)
• Utilities: Public water; Public sewer; Cable available; Electricity available; Sewer connected; Water available
• Home design: Condominium; Two levels; Resale property; Faces southwest
• Construction: Built with CBS construction materials; Barrel roof; 2-story building
• Exterior features: Open patio; Patio

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on main level
• Flooring: Carpet; Ceramic tile; Tile; Wood
• Bathrooms: 2 full bathrooms on main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Entrance foyer; Walk-in closets; Split bedroom layout; Upstairs living area; Blinds on windows
• Laundry & utility: Laundry closet with washer and electric dryer hookups inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $414k.

Deal economics

• At list price, monthly cash flow is $-165 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $385k (7.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $380k (8.3% below list).
• Recommended offer: $380k (8.3% below list) — sets the bar for 1% rule.

Location & tenants

• 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: Allamanda Elementary School (math 52% / reading 58%, grade C, #872 of 2,144 statewide, top 42%, 630 students, 48% FRL); Howell L. Watkins Middle School (math 18% / reading 33%, grade F, #512 of 571 statewide, top 90%, 794 students, 76% FRL); Palm Beach Gardens High School (math 19% / reading 40%, grade F, #447 of 667 statewide, top 68%, 2,570 students, 61% FRL).
• Zoned-school proficiency averages 37% at this address vs 50% district-wide (-13 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 (+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).
• At $3,798/mo this rent would consume 48% 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.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 44 days — a 3% lower offer ($402k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y 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 $130k; list at $414k implies a 219% 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 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $379,788 (8.3% 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 44 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 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?
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: 0.92% ✗
• Cap rate: 5.81%
• Cash-on-cash: -1.71%
• DSCR: 0.92
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.49% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.32×
• Total profit: $-79,285
• Equity at exit: $61,729

10-year hold

• IRR: -13.6%
• Equity multiple: 0.23×
• Total profit: $-89,449
• Equity at exit: $35,795

Cash invested: $115,920 (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 33410

• Rents YoY: 2.5%
• Active inventory: 309
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $3,798 high
• Mortgage (P&I): −$2,171
• Tax from tax record: −$467 /mo · $5,600/yr
• Insurance: −$172
• HOA: −$355
• Vacancy / Maint / Mgmt: −$798
• Net cashflow: $-165

Break-even live

Break-even rent $4,007

Max offer price $384,865

Occupancy floor 99%

Sensitivity live

Price	-10% $69	-5% $-48	+0% $-165	+5% $-282	+10% $-399
Rent	-10% $-465	-5% $-315	+0% $-165	+5% $-15	+10% $135
Rate	-1.0pp $44	-0.5pp $-60	base $-165	+0.5pp $-272	+1.0pp $-381

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: $103,500
• Closing costs: $12,420
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11028 Legacy Dr #203 Palm Beach Gardens, FL	2.0	2.0	1309	$4,000	$3.06	25d	1	0.10mi
11024 Legacy Dr #104 Palm Beach Gardens, FL	2.0	2.0	1345	$6,000	$4.46	25d	1	0.10mi
11023 Legacy Ln #204 Palm Beach Gardens, FL	2.0	2.0	1309	$3,500	$2.67	25d	1	0.13mi
11021 Legacy Ln #303 Palm Beach Gardens, FL	2.0	2.0	1403	$2,950	$2.10	25d	1	0.14mi
11011 Legacy Dr #306 Palm Beach Gardens, FL	2.0	2.0	1403	$4,350	$3.10	25d	1	0.21mi
3660 RCA Blvd Palm Beach Gardens, FL	1.0–2.0	1.0–2.0	1524	$6,849	$4.49	2d	30	0.22mi
3955 Design Center Dr Palm Beach Gardens, FL	3.0	1.0–2.0	996	$3,517	$3.53	0d	22	0.30mi
7102 Geminata Oak Ct Unit 7102 Palm Beach Gardens, FL	2.0	2.0	1152	$3,200	$2.78	9d	1	0.38mi
418 Capistrano Dr Palm Beach Gardens, FL	3.0	2.5	1570	$3,600	$2.29	25d	1	0.47mi
10201 Chapman Oak Ct Palm Beach Gardens, FL	2.0	2.0	1152	$4,000	$3.47	25d	1	0.47mi
3610 Gardens Pkwy Unit 402A Palm Beach Gardens, FL	2.0	2.5	1831	$5,500	$3.00	25d	1	0.66mi
3630 Gardens Pkwy Unit 1104C Palm Beach Gardens, FL	2.0	2.5	1831	$5,250	$2.87	20d	1	0.67mi
3630 Gardens Pkwy Unit 1004C Palm Beach Gardens, FL	2.0	2.5	1831	$5,000	$2.73	25d	1	0.67mi
222 E Tall Oaks Cir Palm Beach Gardens, FL	3.0	2.0	1577	$5,000	$3.17	23d	1	0.70mi
4120 Union Square Blvd Palm Beach Gardens, FL	1.0–3.0	1.0–2.0	1035	$2,632	$2.54	0d	100	0.71mi
2750 Rio Vista Blvd Palm Beach Gardens, FL	1.0–2.0	1.0–2.0	925	$2,999	$3.24	4d	27	0.79mi
4348 Hazel Ave Palm Beach Gardens, FL	3.0	2.5	1740	$4,200	$2.41	25d	1	0.80mi
4128 Chestnut Ave Palm Beach Gardens, FL	3.0	2.0	1646	$3,900	$2.37	22d	1	0.83mi
4128 Chestnut Ave Palm Beach Gardens, FL	3.0	2.0	1646	$3,900	$2.37	25d	1	0.83mi
4128 Chestnut Ave Palm Beach Gardens, FL	3.0	2.0	1646	$3,900	$2.37	6d	1	0.83mi
11900 Valencia Gardens Ave Palm Beach Gardens, FL	1.0–3.0	1.0–2.0	980	$2,606	$2.66	0d	18	0.85mi
11556 Winchester Dr Unit 29c Palm Beach Gardens, FL	3.0	2.5	1562	$2,950	$1.89	25d	1	0.86mi
12015 Colony Ave Palm Beach Gardens, FL	3.0	2.0	1104	$3,100	$2.81	25d	1	0.95mi
12015 Colony Ave Palm Beach Gardens, FL	3.0	2.0	1104	$3,100	$2.81	23d	1	0.95mi
403 4th Ln Palm Beach Gardens, FL	3.0	2.5	1596	$2,950	$1.85	25d	1	0.95mi
2410 24th Ln Palm Beach Gardens, FL	2.0	2.5	1596	$3,000	$1.88	6d	1	0.97mi
2407 24th Ln Palm Beach Gardens, FL	3.0	2.5	1596	$2,900	$1.82	25d	1	0.98mi
2407 24th Ln Palm Beach Gardens, FL	3.0	2.5	1596	$2,900	$1.82	16d	1	0.98mi
2916 Tuscany Ct #201 Palm Beach Gardens, FL	2.0	2.0	1149	$3,200	$2.79	4d	1	0.99mi
2916 Tuscany Ct Palm Beach Gardens, FL	3.0	2.0	1278	$2,818	$2.21	25d	1	0.99mi
2727 Anzio Ct #106 Palm Beach Gardens, FL	3.0	2.0	1316	$3,000	$2.28	25d	1	1.03mi
1128 Rainwood Cir W Palm Beach Gardens, FL	3.0	2.0	1650	$4,200	$2.55	23d	1	1.05mi
3019 Alcazar Pl #107 Palm Beach Gardens, FL	1.0	1.0	1000	$3,000	$3.00	23d	1	1.07mi
3019 Alcazar Pl #107 Palm Beach Gardens, FL	1.0	1.0	1000	$2,900	$2.90	25d	1	1.07mi
160 Lost Bridge Dr Palm Beach Gardens, FL	3.0	2.0	1826	$4,500	$2.46	16d	1	1.07mi
2813 Grande Pkwy #109 Palm Beach Gardens, FL	3.0	2.0	1278	$2,818	$2.21	25d	1	1.10mi
4907 Midtown Ln #1211 Palm Beach Gardens, FL	3.0	2.0	1134	$3,350	$2.95	5d	1	1.14mi
3270 Grove Rd Unit 1326860P Palm Beach Gardens, FL	3.0	2.0	1496	$5,492	$3.67	0d	1	1.19mi
3640 Gull Rd Palm Beach Gardens, FL	3.0	2.0	1382	$2,975	$2.15	9d	1	1.20mi
10174 Plum St Palm Beach Gardens, FL	3.0	2.0	1546	$3,800	$2.46	25d	1	1.20mi

HOA detail condo

• Monthly dues: $355 · $4,260/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $414,000 Active 44 DOM
2. 2026-06-18
   days on market $414,000 Active 41 DOM
3. 2026-06-17
   days on market $414,000 Active 40 DOM
4. 2026-06-16
   days on market $414,000 Active 39 DOM
5. 2026-06-15
   days on market $414,000 Active 38 DOM
6. 2026-06-13
   days on market $414,000 Active 36 DOM
7. 2026-06-09
   days on market $414,000 Active 32 DOM
8. 2026-06-08
   days on market $414,000 Active 31 DOM
9. 2026-06-07
   days on market $414,000 Active 30 DOM
10. 2026-06-04
    days on market $414,000 Active 27 DOM
11. 2026-06-03
    days on market $414,000 Active 26 DOM
12. 2026-06-02
    days on market $414,000 Active 25 DOM
13. 2026-06-01
    days on market $414,000 Active 24 DOM
14. 2026-05-31
    days on market $414,000 Active 23 DOM
15. 2026-05-08
    listed $419,000 Active
16. 2009-05-28
    soldstatus $129,900 402-char remark

    Show marketing remark (402 chars)

    BANK OWNED FORECLOSURE BEING SOLD IN ''AS IS'' CONDITION. SPACIOUS CONDO IN MOVE IN CONDITION. NICE VIEW OF THE LAKE AND SUNSETS. TO PLACE AN OFFER, PLEASE CLICK ON THE ATTACHMENT LINK & SEND DOCUMENTS WITH ALL OFFERS. THE FORM AND LIST OF REQUIREMENTS MUST BE SUBMITTED WITH ALL OFFERS. IF AN OFFER IS RECEIVED WITHOUT THE REQUIRED ATTACHMENTS, IT MAY JEOPARDIZE YOUR OFFER RECEIVING A RESPONSE.

17. 2009-04-21
    historical 402-char remark

    Show marketing remark (402 chars)

    BANK OWNED FORECLOSURE BEING SOLD IN ''AS IS'' CONDITION. SPACIOUS CONDO IN MOVE IN CONDITION. NICE VIEW OF THE LAKE AND SUNSETS. TO PLACE AN OFFER, PLEASE CLICK ON THE ATTACHMENT LINK & SEND DOCUMENTS WITH ALL OFFERS. THE FORM AND LIST OF REQUIREMENTS MUST BE SUBMITTED WITH ALL OFFERS. IF AN OFFER IS RECEIVED WITHOUT THE REQUIRED ATTACHMENTS, IT MAY JEOPARDIZE YOUR OFFER RECEIVING A RESPONSE.

18. 2009-03-05
    listed $129,900 402-char remark

    Show marketing remark (402 chars)

    BANK OWNED FORECLOSURE BEING SOLD IN ''AS IS'' CONDITION. SPACIOUS CONDO IN MOVE IN CONDITION. NICE VIEW OF THE LAKE AND SUNSETS. TO PLACE AN OFFER, PLEASE CLICK ON THE ATTACHMENT LINK & SEND DOCUMENTS WITH ALL OFFERS. THE FORM AND LIST OF REQUIREMENTS MUST BE SUBMITTED WITH ALL OFFERS. IF AN OFFER IS RECEIVED WITHOUT THE REQUIRED ATTACHMENTS, IT MAY JEOPARDIZE YOUR OFFER RECEIVING A RESPONSE.

ⓘ 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: $5,600 · $467/mo
• Projected year-2 tax: $5,600 · $467/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 6 d/yr ≥106°F today · 18 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: $45,575
• − Mortgage interest: −$23,190
• − Property taxes: −$5,600
• − Insurance: −$2,070
• − Repairs & maintenance: −$3,646
• − Management: −$3,646
• − HOA: −$4,260
• − Depreciation: −$12,044
• Taxable loss: −$8,882
• Est. tax savings @ 24.0%: +$2,132
• After-tax cash flow: $153/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 — Palm Beach Gardens

• Score: 69/100
• State rank: #464
• US rank: #8366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Beach Gardens, FL
• County: Palm Beach County · 1,438,312 people
• City population: 96,294
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 36,759
• Household income: $94,530
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 1429.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 15% Two or more races 13% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 17% · Canada, Jamaica, Vietnam
• Languages at home: 78% English-only · Spanish 13% French/Haitian/Cajun 3% 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: ▼ -346.12%
• Current HPI: 375.5381
• Rent YoY: ▲ 2.49%
• 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

+222.6% since first listed

4 events — show timeline

• 2026-05-08 Listed $419,000 Beaches MLS
• 2009-05-28 Sold (MLS) $129,900 Beaches MLS
• 2009-04-21 Listing Removed — Beaches MLS
• 2009-03-05 Listed $129,900 Beaches MLS

Property tax history

+6.2%/yr

Latest (2025): $5,600 · +6.7% YoY. Source: county tax records.