273 Cypress Point Dr · Palm Beach Gardens, FL 33418

$225,000

2 bd · 2.0 ba · 770 sqft · Condo public records · 20 Days on market

Built 1982 $571/mo HOA · 21% 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 +11.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• DSCR +3.4/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BEAUTIFUL 2 BEDROOM/2 BATHROOM CONDO IN PGA NATIONAL - CURRENTLY RENTED FOR TWO YEARS AT $975 PER MONTH. CURRENT RENTAL RATE COVERS ALL EXPENSES TO THE CONDO. EXCELLENT TENANT - GREAT FOR AN INVESTOR! GORGEOUS VIEWS OF LAKE! UPGRADED CONDO WITH COVERED BALCONY. COMMUNITY POOL AND GATED COMMUNITY IN PALM BEACH GARDENS.

Key facts

• Covered balcony
• Panoramic lake views
• Quick access to i 95

Tags

• PANORAMIC LAKE VIEWS
• COVERED BALCONY
• CYPRESS POINT COMMUNITY
• QUICK ACCESS TO I 95

Property features AI

Finance

• Other: Pets allowed with limits (number and size restrictions)
• HOA & community: Association: Cypress Point (also associated with PGA National); Monthly HOA fee (approx.): $492.90; HOA fee includes water, sewer, and reserve funds; Community amenities include heated pool, tennis courts, basketball court, playground, park, picnic area, jogging path, soccer and baseball/softball fields, management, and gated access

Exterior

• Parking: Two parking spaces total with assigned and guest parking; One open parking space
• Security: Gated community with guard; Smoke detectors
• Utilities: Public water; Public sewer; Electricity available; Water and sewer available
• Home design: Condominium; Two-story building; Resale property; Faces south
• Construction: Frame and CBS construction; Concrete and tile roof; Pillar/post/pier raised foundation; Building area about 770–800 (public records)
• Exterior features: Lake access waterfront; Paved, publicly maintained road

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Two main-level bedrooms
• Flooring: Carpet; Ceramic tile / tile
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Central electric heat; Central air conditioning with electric operation; Ceiling fans
• Interior features: Entrance foyer; Blinds and plantation shutters on windows
• Laundry & utility: In-unit laundry located in an interior laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $-73 ($-872/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (5.7% below list).
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $212k (5.7% below list) — sets the bar for cash-flow.

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: Timber Trace Elementary School (math 76% / reading 79%, grade A, #163 of 2,144 statewide, top 8%, 825 students, 34% FRL); Watson B. Duncan Middle School (math 54% / reading 59%, grade B, #171 of 571 statewide, top 30%, 1,157 students, 41% FRL); Palm Beach Gardens High School (math 19% / reading 40%, grade F, #447 of 667 statewide, top 68%, 2,570 students, 61% FRL).
• Market conditions: Rents rising (+2.0%/yr); 542 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 20 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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 $87k; list at $225k implies a 159% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $212,165 (5.7% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.19% ✓
• Cap rate: 5.91%
• Cash-on-cash: -1.38%
• DSCR: 0.94
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.0% rent growth · sell at horizon

5-year hold

• IRR: -19.9%
• Equity multiple: 0.31×
• Total profit: $-43,328
• Equity at exit: $33,548

10-year hold

• IRR: -15.7%
• Equity multiple: 0.16×
• Total profit: $-52,680
• Equity at exit: $19,454

Cash invested: $63,000 (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 33418

• Home prices YoY: -32.4%
• Rents YoY: 2.0%
• Active inventory: 542
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,682 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$347 /mo · $4,161/yr
• Insurance: −$94
• HOA: −$571
• Vacancy / Maint / Mgmt: −$563
• Net cashflow: $-73

Break-even live

Break-even rent $2,774

Max offer price $212,165

Occupancy floor 98%

Sensitivity live

Price	-10% $55	-5% $-9	+0% $-73	+5% $-136	+10% $-200
Rent	-10% $-285	-5% $-179	+0% $-73	+5% $33	+10% $139
Rate	-1.0pp $41	-0.5pp $-15	base $-73	+0.5pp $-131	+1.0pp $-190

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
261 Cypress Point Dr Palm Beach Gardens, FL	2.0	2.0	770	$2,500	$3.25	26d	1	0.02mi
273 Cypress Point Dr Palm Beach Gardens, FL	2.0	2.0	770	$2,075	$2.69	26d	1	0.03mi
278 Cypress Point Dr Unit 278 Palm Beach Gardens, FL	2.0	2.0	770	$2,000	$2.60	26d	1	0.04mi
285 Cypress Point Dr Palm Beach Gardens, FL	2.0	2.0	770	$2,100	$2.73	26d	1	0.07mi
296 Cypress Point Dr Palm Beach Gardens, FL	2.0	2.0	770	$4,000	$5.19	26d	1	0.09mi
9016 Alister Blvd E Palm Beach Gardens, FL	1.0–3.0	1.0–2.0	1136	$2,450	$2.16	0d	47	0.44mi
135 Coventry Pl Unit 135 Palm Beach Gardens, FL	1.0	1.5	646	$1,400	$2.17	6d	1	1.27mi
136 Coventry Pl Unit 136 Palm Beach Gardens, FL	2.0	1.5	858	$1,600	$1.86	26d	1	1.30mi
1111 Duncan Cir #203 Palm Beach Gardens, FL	2.0	2.0	1035	$2,900	$2.80	26d	1	1.43mi

HOA detail condo

• Monthly dues: $571 · $6,852/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-21
   days on market $225,000 Active 20 DOM
2. 2026-06-18
   days on market $225,000 Active 17 DOM
3. 2026-06-17
   days on market $225,000 Active 16 DOM
4. 2026-06-16
   days on market $225,000 Active 15 DOM
5. 2026-06-15
   days on market $225,000 Active 14 DOM
6. 2026-06-13
   days on market $225,000 Active 12 DOM
7. 2026-06-09
   days on market $225,000 Active 8 DOM
8. 2026-06-08
   days on market $225,000 Active 7 DOM
9. 2026-06-07
   days on market $225,000 Active 6 DOM
10. 2026-06-04
    days on market $225,000 Active 3 DOM
11. 2026-06-03
    days on market $225,000 Active 2 DOM
12. 2026-06-02
    remarks 689-char remark
13. 2026-06-02
    listed $225,000 Active 1 DOM

ⓘ 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: $4,161 · $347/mo
• Projected year-2 tax: $4,161 · $347/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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 6 d/yr ≥106°F today · 20 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: $32,184
• − Mortgage interest: −$12,603
• − Property taxes: −$4,161
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,575
• − Management: −$2,575
• − HOA: −$6,852
• − Depreciation: −$6,545
• Taxable loss: −$4,253
• Est. tax savings @ 24.0%: +$1,021
• After-tax cash flow: $149/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): 43,676
• Household income: $125,497
• Rent vs Own: 23.3% rent · 76.7% own
• Severe rent burden: 1339.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 13% Two or more races 9% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 4% Scotch-Irish 4%
• Foreign-born: 15% · Canada, China, Jamaica
• Languages at home: 83% English-only · Spanish 8% German/W. Germanic 2% 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: ▼ -172.79%
• Current HPI: 361.1997
• Rent YoY: ▲ 2.00%
• 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

+423.3% since first listed

12 events — show timeline

• 2026-06-01 Listed $225,000 Beaches MLS
• 2026-03-24 Listed for Rent $2,075 RMLSFL
• 2026-03-24 Rental Removed $2,075 GFLMLS
• 2026-03-18 Listed for Rent $2,075 GFLMLS
• 2015-04-24 Sold (Public Records) $87,000 Public Records
• 2015-04-22 Sold (MLS) $87,000 Beaches MLS
• 2015-02-26 Price Changed $89,900 Beaches MLS
• 2015-02-13 Price Changed $92,000 Beaches MLS
• 2015-02-02 Listed $95,000 Beaches MLS
• 2013-03-26 Sold (Public Records) $70,000 Public Records
• 2002-07-30 Sold (Public Records) $72,500 Public Records
• 1996-09-26 Sold (Public Records) $43,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $4,161 · +6.9% YoY. Source: county tax records.