11255 Green Lake Dr #202 · Golf, FL 33437

$199,000

1 bd · 2.0 ba · 1,195 sqft · Condo public records · 21 Days on market

Built 1979 $632/mo HOA · 24% 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 +15.6/30.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Appreciation +4.9/10.0
• DSCR +4.8/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0

Listing remarks

NEW ROOF, NO MANDATORY MEMBERSHIP FEES, NO ASSESSMENTS, 55+ COMMUNITY! Updated 2BR/2BA condo in the gated Indian Spring / Green Lakes community with serene lake views from a private screened lanai. Features include new laminate flooring, new vanities, modern ceiling fans, new bath fans, new stove, and in-unit washer/dryer. Steps to the pool and tennis courts, plus walking distance to houses of worship. Peaceful community close to shopping, dining, and entertainment. HOA $632 includes basic cable & internet. Minimum credit score 659.

Key facts

• Gated community
• Modern ceiling fans
• Serene lake views

Tags

• GATED COMMUNITY
• SERENE LAKE VIEWS
• PRIVATE SCREENED LANAI
• NEW LAMINATE FLOORING
• NEW VANITIES
• MODERN CEILING FANS

Property features AI

Finance

• Financial info: Pets allowed (pet restrictions possible)
• HOA & community: Monthly association fee; Association amenities include golf course, jogging path, management, parking, pool, storage, tennis courts, on-site manager, bike storage, sidewalks, and street lights; Association fee covers cable TV, insurance, grounds maintenance, security, trash, common areas, and common property taxes

Exterior

• Parking: Assigned parking; Guest parking; Total of 1 parking space
• Security: Gated with guard; Security guard; Security patrol; Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Sewer available; Water available
• Home design: Condominium; 2-story building; Resale condition; Faces south
• Construction: Stucco and CBS construction; Flat roof
• Exterior features: Covered patio; Screened patio; Screened porch; Patio; Porch; Waterfront property; Entry-level living area

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate; Tile; Wood
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Walk-in closets; Split bedroom layout; Blinds on windows; Unfurnished
• Laundry & utility: Inside laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $196k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#703 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: Hagen Road Elementary School (math 55% / reading 63%, grade B-, #722 of 2,144 statewide, top 34%, 773 students, 46% FRL); Boynton Beach Community High (math 13% / reading 25%, grade F, #565 of 667 statewide, top 85%, 1,547 students, 65% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: Rents rising (+1.3%/yr); 479 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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).
• This rent runs 39% of the median local income ($81k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $895 of equity ($1k loan paydown + $-481 appreciation (-0.2% local appreciation)).
• 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 21 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y 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 $140k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,015 (1.5% below list)

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 1.31% ✓
• Cap rate: 6.80%
• Cash-on-cash: 1.80%
• DSCR: 1.08
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.24% appreciation · 1.28% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.88×
• Total profit: $-6,777
• Equity at exit: $55,390

10-year hold

• IRR: 1.6%
• Equity multiple: 1.15×
• Total profit: $8,613
• Equity at exit: $64,701

Cash invested: $55,720 (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 33437

• Home prices YoY: -0.1%
• Rents YoY: 1.3%
• Active inventory: 479
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,609 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$219 /mo · $2,631/yr
• Insurance: −$83
• HOA: −$632
• Vacancy / Maint / Mgmt: −$548
• Net cashflow: $84

Break-even live

Break-even rent $2,503

Max offer price $199,000

Occupancy floor 92%

Sensitivity live

Price	-10% $196	-5% $140	+0% $84	+5% $27	+10% $-29
Rent	-10% $-123	-5% $-19	+0% $84	+5% $187	+10% $290
Rate	-1.0pp $184	-0.5pp $134	base $84	+0.5pp $32	+1.0pp $-20

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11234 Green Lake Dr #102 Boynton Beach, FL	2.0	2.0	1196	$2,200	$1.84	25d	1	0.04mi
11282 Green Lake Dr #204 Boynton Beach, FL	2.0	2.0	1196	$3,750	$3.14	25d	1	0.05mi
5570 Piping Rock Dr Boynton Beach, FL	2.0	2.0	1478	$2,850	$1.93	25d	1	0.39mi
5570 Piping Rock Dr Boynton Beach, FL	2.0	2.0	1478	$3,000	$2.03	0d	1	0.39mi
10592 Tropic Palm Ave #202 Boynton Beach, FL	2.0	2.0	1385	$2,450	$1.77	25d	1	0.77mi
11211 S Military Trl Boynton Beach, FL	1.0–3.0	1.0–2.0	1033	$1,834	$1.78	0d	31	0.79mi
5734 Northpointe Ln Boynton Beach, FL	2.0	2.0	1125	$2,750	$2.44	16d	1	0.88mi
5734 Northpointe Ln Boynton Beach, FL	2.0	2.0	1125	$2,600	$2.31	4d	1	0.88mi
5694 Northpointe Ln Boynton Beach, FL	2.0	2.0	1125	$2,825	$2.51	8d	1	0.89mi
5675 Northpointe Ln Boynton Beach, FL	2.0	2.0	1163	$3,000	$2.58	3d	1	0.90mi
5675 Northpointe Ln Boynton Beach, FL	2.0	2.5	1163	$2,950	$2.54	25d	1	0.90mi
5724 Boynton Cres Boynton Beach, FL	2.0	1.0	861	$2,300	$2.67	25d	1	0.94mi
10423 Boynton Place Cir Boynton Beach, FL	2.0	1.0	861	$2,200	$2.56	19d	1	1.07mi
10423 Boynton Place Cir Boynton Beach, FL	2.0	1.0	861	$2,200	$2.56	8d	1	1.07mi
5217 Cedar Lake Rd Boynton Beach, FL	1.0–3.0	1.0–2.0	1030	$1,721	$1.67	2d	51	1.07mi
10187 Mangrove Dr #104 Boynton Beach, FL	2.0	2.0	1260	$2,350	$1.87	25d	1	1.09mi
12299 Forest Greens Dr Boynton Beach, FL	2.0	2.0	1310	$2,450	$1.87	18d	1	1.10mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,394	$2.39	3d	1	1.14mi
5020 Ashley Lake Dr Boynton Beach, FL	1.0	1.0	784	$2,074	$2.65	25d	1	1.14mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,346	$2.34	14d	1	1.14mi
4944 Equestrian Cir Unit A Boynton Beach, FL	2.0	2.0	1400	$2,500	$1.79	8d	1	1.21mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$1,865	$1.83	0d	19	1.21mi
12547 Imperial Isle Dr Boynton Beach, FL	2.0–3.0	2.0	1500	$2,500	$1.67	25d	2	1.40mi
10206 Stonehenge Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1054	$1,909	$1.81	0d	12	1.43mi

HOA detail condo

• Monthly dues: $632 · $7,584/yr
• Likely covers: internetcablepoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 41 events

1. 2026-06-18
   days on market $199,000 Active 21 DOM
2. 2026-06-17
   days on market $199,000 Active 20 DOM
3. 2026-06-16
   days on market $199,000 Active 19 DOM
4. 2026-06-15
   days on market $199,000 Active 18 DOM
5. 2026-06-13
   days on market $199,000 Active 16 DOM
6. 2026-06-09
   days on market $199,000 Active 12 DOM
7. 2026-06-08
   days on market $199,000 Active 11 DOM
8. 2026-06-07
   days on market $199,000 Active 10 DOM
9. 2026-06-04
   days on market $199,000 Active 7 DOM
10. 2026-06-03
    days on market $199,000 Active 6 DOM
11. 2026-06-02
    days on market $199,000 Active 5 DOM
12. 2026-06-01
    days on market $199,000 Active 4 DOM
13. 2026-05-31
    days on market $199,000 Active 3 DOM
14. 2026-05-28
    listed $199,000 Active
15. 2026-05-05
    historical
16. 2026-01-26
    price $199,900
17. 2026-01-20
    price $209,900
18. 2025-12-09
    listed $219,900 Active
19. 2025-12-09
    historical
20. 2025-12-06
    price $219,900
21. 2025-10-07
    status Active
22. 2025-10-01
    historical
23. 2025-05-21
    status Active
24. 2025-05-21
    historical
25. 2025-05-12
    price $204,900
26. 2025-03-10
    listed $214,900 Active
27. 2025-02-06
    historical
28. 2025-01-24
    price $204,900
29. 2025-01-19
    price $214,900
30. 2024-11-18
    price $215,900
31. 2024-09-09
    listed $224,900 Active
32. 2024-06-19
    historical
33. 2024-06-02
    price $219,000
34. 2024-05-30
    price $229,000
35. 2024-05-04
    price $234,000
36. 2024-03-25
    price $250,000
37. 2024-02-01
    price $259,900
38. 2024-01-09
    price $269,900
39. 2023-12-14
    listed $279,900 Active
40. 2023-06-01
    soldstatus $140,000
41. 1992-11-20
    soldstatus $45,000

ⓘ 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: $2,631 · $219/mo
• Projected year-2 tax: $2,631 · $219/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 7 d/yr ≥106°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,312
• − Mortgage interest: −$11,147
• − Property taxes: −$2,631
• − Insurance: −$995
• − Repairs & maintenance: −$2,505
• − Management: −$2,505
• − HOA: −$7,584
• − Depreciation: −$5,789
• Taxable loss: −$1,845
• Est. tax savings @ 24.0%: +$443
• After-tax cash flow: $1,446/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 — Golf

• Score: 63/100
• State rank: #703
• US rank: #14941

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing A+ Health & safety F 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): 37,229
• Household income: $80,710
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 902.0

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 (68%)
• Race & ethnicity: White 68% Two or more races 13% Hispanic / Latino 12% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1% Dominican 1%
• Common ancestry: Scotch-Irish 8% Romanian 8% Hispanic 6%
• Foreign-born: 18% · Canada, Jamaica, Vietnam
• Languages at home: 78% English-only · Spanish 10% French/Haitian/Cajun 6% 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: ▼ -0.24%
• Current HPI: 257.5891
• Rent YoY: ▲ 1.28%
• 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

+342.2% since first listed

28 events — show timeline

• 2026-05-28 Listed $199,000 Beaches MLS
• 2026-05-05 Listing Removed — Beaches MLS
• 2026-01-26 Price Changed $199,900 Beaches MLS
• 2026-01-20 Price Changed $209,900 Beaches MLS
• 2025-12-09 Listing Removed — Beaches MLS
• 2025-12-09 Listed $219,900 Beaches MLS
• 2025-12-06 Price Changed $219,900 Beaches MLS
• 2025-10-07 Relisted — Beaches MLS
• 2025-10-01 Listing Removed — Beaches MLS
• 2025-05-21 Relisted — Beaches MLS
• 2025-05-21 Listing Removed — Beaches MLS
• 2025-05-12 Price Changed $204,900 Beaches MLS
• 2025-03-10 Listed $214,900 Beaches MLS
• 2025-02-06 Listing Removed — Beaches MLS
• 2025-01-24 Price Changed $204,900 Beaches MLS
• 2025-01-19 Price Changed $214,900 Beaches MLS
• 2024-11-18 Price Changed $215,900 Beaches MLS
• 2024-09-09 Listed $224,900 Beaches MLS
• 2024-06-19 Listing Removed — Beaches MLS
• 2024-06-02 Price Changed $219,000 Beaches MLS
• 2024-05-30 Price Changed $229,000 Beaches MLS
• 2024-05-04 Price Changed $234,000 Beaches MLS
• 2024-03-25 Price Changed $250,000 Beaches MLS
• 2024-02-01 Price Changed $259,900 Beaches MLS
• 2024-01-09 Price Changed $269,900 Beaches MLS
• 2023-12-14 Listed $279,900 Beaches MLS
• 2023-06-01 Sold (Public Records) $140,000 Public Records
• 1992-11-20 Sold (Public Records) $45,000 Public Records

Property tax history

+9.6%/yr

Latest (2025): $2,631 · -26.9% YoY. Source: county tax records.