3487 La Palmas Ct Unit D-1 · Greenacres, FL 33463

$135,000

2 bd · 1.0 ba · 920 sqft · Condo public records · 158 Days on market

Built 1977 $417/mo HOA · 21% of rent

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Why this score? — see what drove the C+ 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 +25.8/30.0
• 1% rule +9.5/10.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into this beautifully remodeled first-floor home offering modern comfort and style throughout. Enjoy a spacious open layout with a newer A/C unit, updated bathroom featuring luxurious finishes, and a screened-in patio perfect for relaxing year-round. The kitchen shines with stainless steel appliances and plenty of storage ideal for both everyday living and entertaining. One of the rare perks at this price point: your own washer and dryer conveniently located in the unit! This vibrant community offers fantastic amenities including a pool, bocce ball, and shuffleboard courts — everything you need for active Florida living. The HOA covers exterior maintenance, lawn care, pool and

Key facts

• Newer a/c unit
• Screened-in patio
• Spacious open layout

Tags

• REMODELED FIRST-FLOOR HOME
• SPACIOUS OPEN LAYOUT
• NEWER A/C UNIT
• UPDATED BATHROOM
• SCREENED-IN PATIO
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.

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); 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 72% FRL vs 52% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 29% at this address vs 50% district-wide (-20 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); 354 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $933 of loan paydown is wiped out by about $4k 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 158 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 26y ago; this cycle's ask has dropped $24k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $135k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 3→8/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.45% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.35%
• DSCR: 1.46
• GRM: 5.8

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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-4,135
• Equity at exit: $20,129

10-year hold

• IRR: 4.4%
• Equity multiple: 1.30×
• Total profit: $11,152
• Equity at exit: $11,672

Cash invested: $37,800 (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: 354
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,955 high
• Mortgage (P&I): −$708
• Tax from tax record: −$37 /mo · $443/yr
• Insurance: −$56
• HOA: −$417
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $326

Break-even live

Break-even rent $1,542

Max offer price $135,000

Occupancy floor 78%

Sensitivity live

Price	-10% $402	-5% $364	+0% $326	+5% $288	+10% $250
Rent	-10% $172	-5% $249	+0% $326	+5% $403	+10% $480
Rate	-1.0pp $394	-0.5pp $360	base $326	+0.5pp $291	+1.0pp $255

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3490 La Jardin Ct Unit B2 Greenacres, FL	1.0	1.0	780	$1,385	$1.78	4d	1	0.02mi
5971 La Pinata Blvd Unit B1 Greenacres, FL	2.0	1.0	920	$1,750	$1.90	26d	1	0.15mi
342 Pine Ridge Cir Unit B2 Greenacres, FL	2.0	1.5	935	$2,200	$2.35	16d	1	0.15mi
3808 Inlet Cir #3808 Greenacres, FL	2.0	2.0	992	$2,200	$2.22	0d	1	0.29mi
5855 S 37th St Unit 5857 Greenacres, FL	2.0	1.0	747	$1,949	$2.61	1d	1	0.30mi
6061 10th Ave N #242 Greenacres, FL	2.0	2.0	855	$2,000	$2.34	6d	1	0.37mi
6031 10th Ave N #219 Greenacres, FL	3.0	2.0	1078	$2,400	$2.23	6d	1	0.39mi
6023 10th Ave N #114 Greenacres, FL	2.0	2.0	1050	$2,000	$1.90	0d	1	0.43mi
6170 Dodd Rd Unit The Greenacres, FL	2.0	2.0	1000	$2,600	$2.60	26d	1	0.54mi
5775 Fernley Dr W #131 West Palm Beach, FL	2.0	2.0	1072	$2,000	$1.87	13d	1	0.58mi
826 Sky Pine Way Greenacres, FL	2.0–3.0	2.0	1304	$1,800	$1.38	0d	2	0.61mi
813 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1111	$1,725	$1.55	4d	1	0.63mi
813 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1111	$1,725	$1.55	16d	1	0.63mi
812 Sky Pine Way Greenacres, FL	2.0	2.0	1064	$2,100	$1.97	26d	1	0.67mi
712 Sunny Pine Way Greenacres, FL	2.0	2.0	1068	$2,150	$2.01	26d	1	0.68mi
811 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1064	$1,550	$1.46	22d	1	0.69mi
629 Sea Pine Way Unit D3 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	24d	1	0.70mi
2715 Emory Dr W Unit C West Palm Beach, FL	1.0	1.5	661	$1,425	$2.16	19d	1	0.71mi
802 Sky Pine Way Unit E2 Greenacres, FL	2.0	2.0	1111	$1,750	$1.58	9d	1	0.71mi
2980 Crosley Dr E Unit F West Palm Beach, FL	2.0	1.0	829	$1,575	$1.90	1d	1	0.72mi
628 Sea Pine Way Unit A2 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	18d	1	0.74mi
718 Sunny Pine Way Unit H2 Greenacres, FL	2.0	2.0	1111	$2,000	$1.80	22d	1	0.77mi
718 Sunny Pine Way Unit H2 Greenacres, FL	2.0	2.0	1111	$2,000	$1.80	7d	1	0.77mi
4181 S 57th Ave Unit D Greenacres, FL	2.0	2.0	847	$1,850	$2.18	26d	1	0.77mi
4191 S 57th Ave Unit H Greenacres, FL	2.0	2.0	847	$1,750	$2.07	26d	1	0.77mi
2647 Emory Dr W Unit C West Palm Beach, FL	1.0	1.0	612	$1,250	$2.04	26d	1	0.78mi
703 Sunny Pine Way Unit G2 Greenacres, FL	2.0	2.0	1068	$2,000	$1.87	17d	1	0.79mi
4205 S 57th Ave Unit G Greenacres, FL	2.0	2.0	1046	$1,900	$1.82	26d	1	0.80mi
2625 Emory Dr W Unit F West Palm Beach, FL	2.0	2.0	895	$1,700	$1.90	26d	1	0.80mi
720 Sunny Pine Way Unit G1 Greenacres, FL	2.0	2.0	1111	$2,000	$1.80	21d	1	0.80mi
2783 Dudley Dr E Unit D West Palm Beach, FL	2.0	2.0	910	$1,650	$1.81	18d	1	0.81mi
3386 Lucerne Park Dr Greenacres, FL	2.0	2.0	1059	$1,950	$1.84	26d	1	0.83mi
3350 Perimeter Dr #1323 Greenacres, FL	2.0	2.0	1059	$1,975	$1.86	4d	1	0.83mi
2723 Dudley Dr W Unit G West Palm Beach, FL	1.0	1.0	611	$1,300	$2.13	26d	1	0.83mi
2854 Crosley Dr E Unit J West Palm Beach, FL	1.0	1.0	612	$1,300	$2.12	26d	1	0.83mi
2805 Crosley Dr E Unit E West Palm Beach, FL	1.0	1.5	662	$1,250	$1.89	26d	1	0.84mi
2515 Emory Dr W Unit A West Palm Beach, FL	2.0	2.0	895	$1,750	$1.96	26d	1	0.86mi
2515 Emory Dr W Unit A West Palm Beach, FL	2.0	2.0	895	$1,700	$1.90	4d	1	0.86mi
3045 Jackson Ave Greenacres, FL	2.0	1.0	900	$1,775	$1.97	26d	1	0.87mi
2551 Emory Dr W Unit A West Palm Beach, FL	1.0	1.5	661	$1,600	$2.42	26d	1	0.88mi

HOA detail condo

• Monthly dues: $417 · $5,004/yr
• Likely covers: landscapingexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-04-25
   status Pending
2. 2026-03-23
   status Active
3. 2026-03-13
   status Pending
4. 2026-02-14
   price $135,000
5. 2026-01-05
   price $140,000
6. 2025-12-19
   price $145,000
7. 2025-11-28
   price $149,000
8. 2025-11-07
   listed $159,000 Active
9. 2025-06-10
   historical
10. 2025-05-02
    price $138,900
11. 2025-04-11
    price $139,000
12. 2025-03-08
    listed $145,000 Active
13. 2025-03-08
    historical
14. 2025-01-15
    status Active
15. 2025-01-02
    historical
16. 2024-12-16
    price $144,900
17. 2024-11-18
    price $145,000
18. 2024-10-03
    price $149,000
19. 2024-08-18
    price $154,900
20. 2024-07-27
    listed $164,900 Active
21. 2013-09-22
    historical
22. 2013-09-22
    historical
23. 2005-11-15
    soldstatus $75,100
24. 2004-03-09
    soldstatus $67,907
25. 2002-09-18
    listed $59,900
26. 2001-12-26
    soldstatus $31,000
27. 2001-11-13
    soldstatus $31,000
28. 2001-11-01
    historical
29. 2001-06-14
    listed $34,900
30. 2000-12-11
    listed $39,900
31. 2000-12-11
    historical
32. 2000-07-06
    listed $40,900
33. 1994-07-20
    soldstatus $28,000

ⓘ 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: $443 · $37/mo
• Projected year-2 tax: $1,120 · $93/mo
• Expected delta: +$677/yr (+$56/mo · 152.8%)

ⓘ 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 3 d/yr ≥105°F today · 8 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: $23,456
• − Mortgage interest: −$7,562
• − Property taxes: −$443
• − Insurance: −$675
• − Repairs & maintenance: −$1,877
• − Management: −$1,877
• − HOA: −$5,004
• − Depreciation: −$3,927
• Taxable income: $2,092
• Est. tax owed @ 24.0%: −$502
• After-tax cash flow: $3,411/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

+382.1% since first listed

33 events — show timeline

• 2026-04-25 Pending — Beaches MLS
• 2026-03-23 Relisted — Beaches MLS
• 2026-03-13 Pending — Beaches MLS
• 2026-02-14 Price Changed $135,000 Beaches MLS
• 2026-01-05 Price Changed $140,000 Beaches MLS
• 2025-12-19 Price Changed $145,000 Beaches MLS
• 2025-11-28 Price Changed $149,000 Beaches MLS
• 2025-11-07 Listed $159,000 Beaches MLS
• 2025-06-10 Listing Removed — Beaches MLS
• 2025-05-02 Price Changed $138,900 Beaches MLS
• 2025-04-11 Price Changed $139,000 Beaches MLS
• 2025-03-08 Listing Removed — Beaches MLS
• 2025-03-08 Listed $145,000 Beaches MLS
• 2025-01-15 Relisted — Beaches MLS
• 2025-01-02 Listing Removed — Beaches MLS
• 2024-12-16 Price Changed $144,900 Beaches MLS
• 2024-11-18 Price Changed $145,000 Beaches MLS
• 2024-10-03 Price Changed $149,000 Beaches MLS
• 2024-08-18 Price Changed $154,900 Beaches MLS
• 2024-07-27 Listed $164,900 Beaches MLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2005-11-15 Sold (Public Records) $75,100 Public Records
• 2004-03-09 Sold (Public Records) $67,907 Public Records
• 2002-09-18 Listed $59,900 Beaches MLS
• 2001-12-26 Sold (Public Records) $31,000 Public Records
• 2001-11-13 Sold (MLS) $31,000 Beaches MLS
• 2001-11-01 Listing Removed — Beaches MLS
• 2001-06-14 Listed $34,900 Beaches MLS
• 2000-12-11 Listing Removed — Beaches MLS
• 2000-12-11 Listed $39,900 Beaches MLS
• 2000-07-06 Listed $40,900 Beaches MLS
• 1994-07-20 Sold (Public Records) $28,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $443 · +7.5% YoY. Source: county tax records.