12021 W Greenway Dr #206 · Royal Palm Beach, FL 33411

$99,900

1 bd · 1.5 ba · 660 sqft · Condo public records · 333 Days on market

Built 1972 $442/mo HOA · 27% of rent

---

Why this score? — see what drove the B+ 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 +25.9/30.0
• 1% rule +10.0/10.0
• Appreciation +10.0/10.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Lovely 1 Bedroom 1 1/2 bath condo in Greenway Village. Come see this great unit in this quiet 55+ community. Unit features tile throughout and has a nice little florida room looking outside. Schedule your showing today!

Key facts

• Comes furnished
• New fridge
• New ac

Tags

• QUIET COMMUNITY
• NEW ROOF
• NEW AC
• NEW FRIDGE
• COMES FURNISHED

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#135 in FL, #2,039 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living C-, 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.
• Market conditions: Rents flat; 574 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).

Forward outlook

• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.8% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 333 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y ago; this cycle's ask has dropped $30k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 333 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 1972 — 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 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?
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: 1.62% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.52%
• DSCR: 1.47
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: 30.8%
• Equity multiple: 3.39×
• Total profit: $66,837
• Equity at exit: $89,998

10-year hold

• IRR: 25.8%
• Equity multiple: 7.39×
• Total profit: $178,652
• Equity at exit: $194,084

Cash invested: $27,972 (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 33411

• Home prices YoY: 1.9%
• Rents YoY: 0.8%
• Active inventory: 574
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,617 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$24 /mo · $293/yr
• Insurance: −$42
• HOA: −$442
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $245

Break-even live

Break-even rent $1,306

Max offer price $99,900

Occupancy floor 80%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12021 W Greenway Dr #101 Royal Palm Beach, FL	1.0	1.5	660	$1,400	$2.12	24d	1	0.04mi
12009 Poinciana Blvd #102 Royal Palm Beach, FL	1.0	1.0	660	$1,500	$2.27	24d	1	0.20mi
149 West Ct Royal Palm Beach, FL	1.0	1.0	648	$1,800	$2.78	11d	1	0.23mi
11020 Town Cir Wellington, FL	1.0–3.0	1.0–2.0	1013	$2,146	$2.12	1d	14	1.36mi

HOA detail condo

• Monthly dues: $442 · $5,304/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-04-14
   soldstatus $91,000
2. 2026-04-08
   status Pending
3. 2026-03-29
   historical Active Under Contract
4. 2025-11-30
   price $99,900
5. 2025-11-20
   price $109,900
6. 2025-06-04
   price $119,900
7. 2025-05-10
   listed $129,900 Active
8. 2018-11-13
   soldstatus $57,000 Closed 219-char remark

   Show marketing remark (219 chars)

   Lovely 1 Bedroom 1 1/2 bath condo in Greenway Village. Come see this great unit in this quiet 55+ community. Unit features tile throughout and has a nice little florida room looking outside. Schedule your showing today!

9. 2018-10-31
   historical
10. 2018-09-25
    historical Active Under Contract 219-char remark

    Show marketing remark (219 chars)

    Lovely 1 Bedroom 1 1/2 bath condo in Greenway Village. Come see this great unit in this quiet 55+ community. Unit features tile throughout and has a nice little florida room looking outside. Schedule your showing today!

11. 2018-09-20
    price $59,000 219-char remark

    Show marketing remark (219 chars)

    Lovely 1 Bedroom 1 1/2 bath condo in Greenway Village. Come see this great unit in this quiet 55+ community. Unit features tile throughout and has a nice little florida room looking outside. Schedule your showing today!

12. 2018-09-19
    listed $62,500 Active 219-char remark

    Show marketing remark (219 chars)

    Lovely 1 Bedroom 1 1/2 bath condo in Greenway Village. Come see this great unit in this quiet 55+ community. Unit features tile throughout and has a nice little florida room looking outside. Schedule your showing today!

13. 2018-04-25
    listed $59,000
14. 2014-10-18
    historical
15. 2014-10-15
    historical
16. 2013-09-22
    historical
17. 2006-08-24
    listed $95,000
18. 2006-01-16
    listed $120,000
19. 2003-12-13
    listed $59,900

ⓘ 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: $293 · $24/mo
• Projected year-2 tax: $829 · $69/mo
• Expected delta: +$536/yr (+$45/mo · 182.6%)

ⓘ 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 ≥107°F today · 25 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: $19,400
• − Mortgage interest: −$5,596
• − Property taxes: −$293
• − Insurance: −$500
• − Repairs & maintenance: −$1,552
• − Management: −$1,552
• − HOA: −$5,304
• − Depreciation: −$2,906
• Taxable income: $1,697
• Est. tax owed @ 24.0%: −$407
• After-tax cash flow: $2,535/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 — Royal Palm Beach

• Score: 79/100
• State rank: #135
• US rank: #2039

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Royal Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 75,299
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 76,863
• Household income: $92,591
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 1870.0

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: White 44% Hispanic / Latino 24% Black 23% Two or more races 16% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 4% Dominican 2%
• Common ancestry: Hispanic 6% Romanian 2% Italian 1%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 17% French/Haitian/Cajun 4% 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: ▲ 17.04%
• Current HPI: 903.78
• Rent YoY: ▲ 0.85%
• 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

+51.9% since first listed

19 events — show timeline

• 2026-04-14 Sold (Public Records) $91,000 Public Records
• 2026-04-08 Pending — Beaches MLS
• 2026-03-29 Contingent — Beaches MLS
• 2025-11-30 Price Changed $99,900 Beaches MLS
• 2025-11-20 Price Changed $109,900 Beaches MLS
• 2025-06-04 Price Changed $119,900 Beaches MLS
• 2025-05-10 Listed $129,900 Beaches MLS
• 2018-11-13 Sold (MLS) $57,000 Beaches MLS
• 2018-10-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2018-09-25 Contingent — Beaches MLS
• 2018-09-20 Price Changed $59,000 Beaches MLS
• 2018-09-19 Listed $62,500 Beaches MLS
• 2018-04-25 Listed $59,000 Stellar MLS as Distributed by MLS Grid
• 2014-10-18 Listing Removed — Beaches MLS
• 2014-10-15 Listing Removed — Beaches MLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2006-08-24 Listed $95,000 Beaches MLS
• 2006-01-16 Listed $120,000 Beaches MLS
• 2003-12-13 Listed $59,900 Beaches MLS

Property tax history

+8.1%/yr

Latest (2025): $293 · +7.6% YoY. Source: county tax records.