431 Pine Glen Ln Unit C-2 · Greenacres, FL 33463

$160,000

2 bd · 2.0 ba · 922 sqft · Condo public records · 105 Days on market

Built 1981 $300/mo HOA · 16% 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 +20.8/30.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• DSCR +6.6/10.0
• 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

Come see this cozy and recently updated 2-bedroom, 2-bath condo located in a welcoming 55+ community. This charming residence features new wood-like flooring throughout with nicely upgraded bathrooms. Enjoy peace of mind with accordion hurricane shutters, hurricane-impact sliding doors, and a newer A/C unit. Relax in the enclosed porch overlooking, perfect for morning coffee or evening unwinding. The community offers ample parking, a clubhouse, fitness center, and scenic sidewalks along the water, creating the perfect blend of comfort and lifestyle. Move-in ready and waiting for you to call it home.

Key facts

• Fitness center
• Clubhouse
• Enclosed porch

Tags

• ACCORDION HURRICANE SHUTTERS
• HURRICANE IMPACT SLIDING DOORS
• NEWER A C UNIT
• ENCLOSED PORCH
• CLUBHOUSE
• FITNESS CENTER

Property features AI

Finance

• Other: Property is listed as a condominium with 922 living area (building area total reported as 1,034)
• Financial info: Multi-family/pet policy: pets not allowed
• HOA & community: Community has an association; HOA fee approximately $300 monthly; Community amenities include clubhouse, fitness center, game room, jogging path, pool, shuffleboard court, tennis courts, bike storage, business center, community room, pickleball courts, sidewalks, and street lights; Senior community

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Cable available
• Home design: Condominium; Resale condition; Faces southwest; 2 stories total; Entry level information not provided
• Construction: Built with CBS (concrete block); Construction year not provided; Foundation details not provided; Roof details not provided
• Exterior features: Not waterfront; No waterfront features

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Ceiling fans; Electric cooling
• Interior features: Walk-in closets
• Laundry & utility: Inside laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $146k (9.0% 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: Heritage Elementary School (math 35% / reading 39%, grade F, #1,609 of 2,144 statewide, top 77%, 786 students, 75% FRL); L C Swain Middle School (math 26% / reading 33%, grade F, #469 of 571 statewide, top 84%, 1,451 students, 74% FRL); Santaluces Community High (math 22% / reading 39%, grade F, #434 of 667 statewide, top 66%, 2,675 students, 61% FRL) — zoned schools average 70% FRL vs 52% district-wide (18 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 rising (+1.3%/yr); 346 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 31% 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

• It's been on market 105 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $160k implies a 60% 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 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.21% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.85%
• DSCR: 1.26
• GRM: 6.9

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: -9.3%
• Equity multiple: 0.66×
• Total profit: $-15,052
• Equity at exit: $23,857

10-year hold

• IRR: -2.6%
• Equity multiple: 0.84×
• Total profit: $-7,239
• Equity at exit: $13,834

Cash invested: $44,800 (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: 346
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,932 high
• Mortgage (P&I): −$839
• Tax from tax record: −$102 /mo · $1,228/yr
• Insurance: −$67
• HOA: −$300
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $218

Break-even live

Break-even rent $1,656

Max offer price $160,000

Occupancy floor 84%

Sensitivity live

Price	-10% $309	-5% $264	+0% $218	+5% $173	+10% $128
Rent	-10% $66	-5% $142	+0% $218	+5% $295	+10% $371
Rate	-1.0pp $299	-0.5pp $259	base $218	+0.5pp $177	+1.0pp $135

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
429 Pine Glen Ln Unit C2 Greenacres, FL	2.0	1.0	804	$1,650	$2.05	25d	1	0.05mi
407 Pine Cir Unit B1 Greenacres, FL	2.0	2.0	922	$1,750	$1.90	25d	1	0.07mi
407 Pine Cir Unit C1 Greenacres, FL	2.0	2.0	922	$1,800	$1.95	25d	1	0.07mi
443 Pine Glen Ln Unit B2 Greenacres, FL	2.0	2.0	922	$1,500	$1.63	25d	1	0.10mi
408 Pine Glen Ln Unit C-2 Greenacres, FL	2.0	1.0	804	$1,600	$1.99	25d	1	0.10mi
417 Pine Glen Ln Unit D2 Greenacres, FL	2.0	2.0	922	$1,550	$1.68	25d	1	0.11mi
417 Pine Glen Ln Unit C2 Greenacres, FL	2.0	2.0	922	$1,800	$1.95	25d	1	0.11mi
446 Pine Glen Ln Unit A1 Greenacres, FL	1.0	1.0	614	$1,550	$2.52	15d	1	0.13mi
4535 Oak Terrace Dr Greenacres, FL	3.0	2.0	1061	$2,400	$2.26	13d	1	0.24mi
4535 Oak Terrace Dr Greenacres, FL	3.0	2.0	1061	$2,500	$2.36	16d	1	0.24mi
4838 Esedra Ct Lake Worth, FL	1.0	1.0	804	$1,550	$1.93	25d	2	0.28mi
4832 Esedra Ct Lake Worth, FL	1.0–3.0	1.0–2.0	1026	$1,650	$1.61	3d	2	0.32mi
4801 Esedra Ct #201 Lake Worth, FL	2.0	2.0	1005	$2,300	$2.29	25d	1	0.34mi
4801 Esedra Ct Lake Worth, FL	2.0	2.0	1027	$2,075	$2.02	11d	2	0.34mi
4245 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$2,000	$2.27	25d	1	0.36mi
4243 Oak Terrace Dr #4243 Greenacres, FL	2.0	2.0	883	$1,950	$2.21	25d	1	0.36mi
4259 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,900	$2.15	25d	1	0.38mi
4185 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,850	$2.10	22d	1	0.40mi
4221 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,900	$2.15	25d	1	0.40mi
104 Lake Pine Cir Unit A1 Greenacres, FL	2.0	2.0	937	$2,050	$2.19	25d	1	0.41mi
5905 Triphammer Rd Lake Worth, FL	2.0	2.0	1020	$3,000	$2.94	25d	1	0.43mi
4254 Deste Ct #305 Greenacres, FL	1.0	1.0	716	$1,500	$2.09	25d	1	0.43mi
102 Lake Pine Cir Unit A2 Greenacres, FL	2.0	1.0	937	$1,500	$1.60	25d	1	0.44mi
4147 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$2,000	$2.27	0d	1	0.45mi
4121 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,950	$2.21	25d	1	0.45mi
4101 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,850	$2.10	11d	1	0.46mi
4266 Deste Ct #107 Greenacres, FL	2.0	2.0	978	$2,100	$2.15	25d	1	0.47mi
105 Lake Pine Cir Unit B2 Greenacres, FL	2.0	2.0	937	$2,000	$2.13	25d	1	0.49mi
121 Lake Pine Cir Unit A2 Greenacres, FL	2.0	1.0	818	$1,600	$1.96	25d	1	0.49mi
4657 Fountains Dr S #206 Lake Worth, FL	1.0	1.0	882	$1,650	$1.87	12d	1	0.51mi
4242 Deste Ct Unit 208 Greenacres, FL	2.0	2.0	978	$2,500	$2.56	25d	1	0.54mi
6615 Waterfront Xing Lake Worth, FL	1.0–3.0	1.0–2.0	1087	$2,864	$2.63	0d	23	0.54mi
133 Lake Pine Cir Unit B1 Greenacres, FL	1.0	1.0	639	$1,450	$2.27	25d	1	0.55mi
133 Lake Pine Cir Greenacres, FL	1.0	1.0	639	$1,300	$2.03	19d	1	0.55mi
4236 Deste Ct #108 Greenacres, FL	1.0	1.0	716	$1,800	$2.51	18d	1	0.60mi
231 Pine Hov Cir Unit A1 Greenacres, FL	1.0	1.0	818	$1,650	$2.02	25d	1	0.61mi
4284 Deste Ct #304 Greenacres, FL	1.0	1.0	716	$2,200	$3.07	17d	1	0.64mi
4230 Deste Ct Unit 305 Greenacres, FL	1.0	1.0	716	$1,900	$2.65	6d	1	0.65mi
211 Pine Hov Cir Unit D2 Greenacres, FL	2.0	2.0	924	$1,700	$1.84	0d	1	0.67mi
4539 Luxemburg Ct Lake Worth, FL	2.0	2.0	1005	$2,250	$2.24	25d	1	0.68mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: watergym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $160,000 Active 105 DOM
2. 2026-06-17
   days on market $160,000 Active 104 DOM
3. 2026-06-16
   days on market $160,000 Active 103 DOM
4. 2026-06-15
   days on market $160,000 Active 102 DOM
5. 2026-06-13
   days on market $160,000 Active 100 DOM
6. 2026-06-09
   days on market $160,000 Active 96 DOM
7. 2026-06-08
   days on market $160,000 Active 95 DOM
8. 2026-06-07
   days on market $160,000 Active 94 DOM
9. 2026-06-04
   days on market $160,000 Active 91 DOM
10. 2026-06-03
    days on market $160,000 Active 90 DOM
11. 2026-06-02
    days on market $160,000 Active 89 DOM
12. 2026-06-01
    days on market $160,000 Active 88 DOM
13. 2026-05-31
    days on market $160,000 Active 87 DOM
14. 2026-05-20
    price $160,000
15. 2026-03-02
    listed $180,000 Active
16. 2025-02-26
    historical
17. 2024-08-17
    price $165,000
18. 2024-06-28
    price $180,000
19. 2024-05-11
    listed $199,000 Active
20. 2022-05-24
    status Active
21. 2022-05-24
    historical
22. 2022-05-18
    status Pending
23. 2022-05-09
    listed $159,999 Active
24. 2019-05-14
    soldstatus $100,000
25. 2019-05-06
    soldstatus $100,000 Closed
26. 2019-03-18
    status Pending
27. 2019-02-19
    price $103,000
28. 2019-01-13
    price $106,000
29. 2018-11-11
    listed $110,000 Active
30. 2008-08-04
    soldstatus $94,000
31. 2001-06-07
    soldstatus $41,000

ⓘ 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: $1,228 · $102/mo
• Projected year-2 tax: $1,328 · $111/mo
• Expected delta: +$100/yr (+$8/mo · 8.1%)

ⓘ 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 ≥106°F today · 28 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: $23,188
• − Mortgage interest: −$8,962
• − Property taxes: −$1,228
• − Insurance: −$800
• − Repairs & maintenance: −$1,855
• − Management: −$1,855
• − HOA: −$3,600
• − Depreciation: −$4,655
• Taxable income: $233
• Est. tax owed @ 24.0%: −$56
• After-tax cash flow: $2,566/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

+290.2% since first listed

18 events — show timeline

• 2026-05-20 Price Changed $160,000 Beaches MLS
• 2026-03-02 Listed $180,000 Beaches MLS
• 2025-02-26 Listing Removed — MARMLS
• 2024-08-17 Price Changed $165,000 MARMLS
• 2024-06-28 Price Changed $180,000 MARMLS
• 2024-05-11 Listed $199,000 MARMLS
• 2022-05-24 Relisted — Beaches MLS
• 2022-05-24 Listing Removed — Beaches MLS
• 2022-05-18 Pending — Beaches MLS
• 2022-05-09 Listed $159,999 Beaches MLS
• 2019-05-14 Sold (Public Records) $100,000 Public Records
• 2019-05-06 Sold (MLS) $100,000 Beaches MLS
• 2019-03-18 Pending — Beaches MLS
• 2019-02-19 Price Changed $103,000 Beaches MLS
• 2019-01-13 Price Changed $106,000 Beaches MLS
• 2018-11-11 Listed $110,000 Beaches MLS
• 2008-08-04 Sold (Public Records) $94,000 Public Records
• 2001-06-07 Sold (Public Records) $41,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $1,228 · +4.5% YoY. Source: county tax records.