2856 S Garden Dr Dr S #212 · Palm Springs, FL 33461

$92,000

2 bd · 1.0 ba · 894 sqft · Condo public records · 37 Days on market

Built 1970 $725/mo HOA · 38% 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 +22.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Only a couple of miles from the beach, but you will feel like you have your toes in the sand from here. I got another great listing over at Lake Clarke Gardens. This one is a Convertible. 894 sq. ft. that can be used as a one bedroom, with a huge living room. OR you can section off the second bedroom and they will have their own closet and direct use of the Jack and Jill bath. Corner unit at end of subdivision on canal. Partially furnished and yours for just $89,000.

Key facts

• Enclosed balcony
• Fitness center
• Canal view

Tags

• CANAL VIEW
• ENCLOSED BALCONY
• CLUBHOUSE
• POOLS
• FITNESS CENTER
• SHUFFLEBOARD

Property features AI

Finance

• Other: Located in a senior community; Directions: Florida Mango Rd, north of 10th Ave N. Go west into Lake Clarke Gardens. Follow Garden Dr S to end, building 2856 (No. 23) on the left.
• Financial info: Pets allowed (possible restrictions)
• HOA & community: Has homeowners association (Lake Clarke Gardens Association); Monthly HOA dues (reported); HOA includes cable TV, internet, grounds and structure maintenance, security, trash, water, common areas, common real estate tax, elevator, legal/accounting, reserve funds, roof repairs, recreation facility and pool service; Association amenities: billiard room, cabana, clubhouse, elevator(s), fitness center, laundry, parking, pool (heated), courtesy bus, hobby room, internet included, kitchen facilities, maintained community, street lights, security

Exterior

• Parking: One open parking space (total parking 1)
• Security: Community security
• Utilities: Public water; Public sewer; Three-phase electric service; Cable available; Electricity available; Water available
• Home design: Condominium; One level; Faces north; Resale property
• Construction: Built with cement siding, stucco and CBS; Tile roof; Three-story building (unit within); 894 building area (public records)
• Exterior features: Waterfront property

Interior

• Kitchen: Dishwasher; Electric range; Electric cooktop; Microwave; Refrigerator; Freezer; Electric water heater
• Bedrooms: One bedroom on the main level
• Flooring: Ceramic tile; Tile; Wood
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central heating; Central air; Ceiling fan(s); Other cooling
• Interior features: Walk-in closet(s); Split bedroom layout; Blinds on windows
• Laundry & utility: Laundry in common area; Outside laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $92k.

Deal economics

• At list price, monthly cash flow is $157 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $92k).
• Recommended offer: $89k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#297 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: Meadow Park Elementary School (math 64% / reading 73%, grade B+, #409 of 2,144 statewide, top 20%, 809 students, 65% FRL); Forest Hill Community High School (math 20% / reading 41%, grade F, #434 of 667 statewide, top 66%, 2,407 students, 66% FRL).
• Market conditions: Rents soft (-2.5%/yr); 274 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 37% of the median local income ($62k/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 $636 of loan paydown is wiped out by about $3k 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 37 days — a 3% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,240 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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. 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: 2.10% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.32%
• DSCR: 1.33
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.61×
• Total profit: $-10,074
• Equity at exit: $13,717

10-year hold

• IRR: -14.9%
• Equity multiple: 0.39×
• Total profit: $-15,783
• Equity at exit: $7,954

Cash invested: $25,760 (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 33461

• Rents YoY: -2.5%
• Active inventory: 274
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,928 high
• Mortgage (P&I): −$482
• Tax from tax record: −$120 /mo · $1,444/yr
• Insurance: −$38
• HOA: −$725
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $157

Break-even live

Break-even rent $1,729

Max offer price $92,000

Occupancy floor 87%

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2856 Garden Dr S #112 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	24d	1	0.02mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	4d	1	0.20mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	2d	1	0.20mi
2721 Garden Dr N #105 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	21d	1	0.21mi
100 Rex Ave Palm Springs, FL	2.0	2.0	1000	$1,850	$1.85	24d	3	0.26mi
2566 Garden Dr S Lake Worth Beach, FL	1.0	1.0	744	$1,395	$1.88	24d	1	0.29mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	15d	1	0.32mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	8d	1	0.32mi
2901 10th Ave N Palm Springs, FL	2.0	1.0	900	$1,795	$1.99	24d	1	0.33mi
2791 S Florida Mango Rd Lake Worth, FL	2.0	2.0	1100	$1,995	$1.81	21d	1	0.34mi
220 Henthorne Dr Palm Springs, FL	1.0–2.0	1.5–2.0	900	$1,850	$2.06	24d	4	0.36mi
910 Rudolf Rd Lake Worth, FL	3.0	1.0	1000	$2,500	$2.50	24d	1	0.40mi
124 Abaco Dr Palm Springs, FL	3.0	2.0	988	$2,900	$2.94	15d	1	0.43mi
3386 Rudolph Rd Lake Worth Beach, FL	2.0	1.0	840	$2,100	$2.50	3d	1	0.47mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,672	$2.09	11d	1	0.48mi
2508 10th Ave N Lake Worth Beach, FL	3.0	2.0	1025	$2,557	$2.49	24d	1	0.48mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,746	$2.18	14d	1	0.48mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,995	$2.90	1d	5	0.54mi
3440 Rudolph Rd Unit 3440-03 Lake Worth Beach, FL	2.0	2.0	935	$2,100	$2.25	19d	1	0.55mi
1065 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,100	$1.91	3d	1	0.55mi
3431 Helena Dr Lake Worth, FL	2.0	2.0	935	$2,075	$2.22	14d	2	0.57mi
3431 Helena Dr Unit 3481-11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	24d	1	0.57mi
3481 Helena Dr Unit 11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	24d	1	0.58mi
1020 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,200	$2.00	22d	1	0.61mi
1016 Manor Dr Unit 5c Palm Springs, FL	2.0	2.0	1098	$2,256	$2.05	24d	1	0.61mi
3031 French Ave Lake Worth, FL	3.0	1.0	840	$2,400	$2.86	8d	1	0.62mi
3017 Buckley Ave Lake Worth, FL	2.0	1.0	720	$2,200	$3.06	24d	1	0.67mi
3300 Boutwell Rd Lake Worth Beach, FL	1.0–2.0	1.0–2.0	765	$2,720	$3.56	24d	1	0.75mi
1802 Waterview Cir #1802 Palm Springs, FL	2.0	2.0	951	$1,925	$2.02	24d	1	0.76mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,750	$2.06	24d	2	0.86mi
247 Cypress Ln Unit 246-C06 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	24d	1	0.87mi
247 Cypress Ln Unit 246-C12 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	5d	1	0.87mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,850	$2.24	24d	3	0.88mi
225 Bonnie Blvd Palm Springs, FL	1.0–2.0	1.5–2.0	944	$1,850	$1.96	24d	2	0.90mi
225 Bonnie Blvd #116 Palm Springs, FL	2.0	2.0	988	$1,850	$1.87	19d	1	0.90mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	22d	1	0.92mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,558	$2.65	2d	14	0.94mi
500 Bonnie Blvd #165 Palm Springs, FL	1.0	1.5	782	$1,350	$1.73	24d	1	0.94mi
441 San Mateo Dr Palm Springs, FL	3.0	2.0	1092	$3,000	$2.75	24d	1	0.95mi
300 Bonnie Blvd #144 Palm Springs, FL	1.0	1.0	702	$1,350	$1.92	24d	1	0.97mi

HOA detail condo

• Monthly dues: $725 · $8,700/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $92,000 Active 37 DOM
2. 2026-06-17
   days on market $92,000 Active 36 DOM
3. 2026-06-16
   days on market $92,000 Active 35 DOM
4. 2026-06-15
   days on market $92,000 Active 34 DOM
5. 2026-06-13
   days on market $92,000 Active 32 DOM
6. 2026-06-09
   days on market $92,000 Active 28 DOM
7. 2026-06-08
   days on market $92,000 Active 27 DOM
8. 2026-06-07
   days on market $92,000 Active 26 DOM
9. 2026-06-04
   days on market $92,000 Active 23 DOM
10. 2026-06-03
    days on market $92,000 Active 22 DOM
11. 2026-06-02
    days on market $92,000 Active 21 DOM
12. 2026-06-01
    days on market $92,000 Active 20 DOM
13. 2026-05-31
    days on market $92,000 Active 19 DOM
14. 2026-05-11
    listed $92,000 Active
15. 2021-09-01
    soldstatus $85,000
16. 2021-08-25
    soldstatus $85,000 Closed 471-char remark

    Show marketing remark (471 chars)

    Only a couple of miles from the beach, but you will feel like you have your toes in the sand from here. I got another great listing over at Lake Clarke Gardens. This one is a Convertible. 894 sq. ft. that can be used as a one bedroom, with a huge living room. OR you can section off the second bedroom and they will have their own closet and direct use of the Jack and Jill bath. Corner unit at end of subdivision on canal. Partially furnished and yours for just $89,000.

17. 2021-07-18
    status Pending 471-char remark

    Show marketing remark (471 chars)

    Only a couple of miles from the beach, but you will feel like you have your toes in the sand from here. I got another great listing over at Lake Clarke Gardens. This one is a Convertible. 894 sq. ft. that can be used as a one bedroom, with a huge living room. OR you can section off the second bedroom and they will have their own closet and direct use of the Jack and Jill bath. Corner unit at end of subdivision on canal. Partially furnished and yours for just $89,000.

18. 2021-06-27
    listed $89,000 Active 471-char remark

    Show marketing remark (471 chars)

    Only a couple of miles from the beach, but you will feel like you have your toes in the sand from here. I got another great listing over at Lake Clarke Gardens. This one is a Convertible. 894 sq. ft. that can be used as a one bedroom, with a huge living room. OR you can section off the second bedroom and they will have their own closet and direct use of the Jack and Jill bath. Corner unit at end of subdivision on canal. Partially furnished and yours for just $89,000.

19. 2014-10-03
    historical
20. 2013-12-16
    listed $59,500 Active
21. 2007-02-09
    historical
22. 2006-07-05
    listed $69,900
23. 1998-07-23
    soldstatus $29,500
24. 1993-08-12
    soldstatus $32,500
25. 1990-03-01
    soldstatus $31,500

ⓘ 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: $1,444 · $120/mo
• Projected year-2 tax: $1,444 · $120/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 27 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: $23,138
• − Mortgage interest: −$5,153
• − Property taxes: −$1,444
• − Insurance: −$460
• − Repairs & maintenance: −$1,851
• − Management: −$1,851
• − HOA: −$8,700
• − Depreciation: −$2,676
• Taxable income: $1,002
• Est. tax owed @ 24.0%: −$240
• After-tax cash flow: $1,645/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 Springs

• Score: 73/100
• State rank: #297
• US rank: #5045

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• City population: 49,443
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 49,443
• Household income: $61,963
• Rent vs Own: 48.2% rent · 51.8% own
• Severe rent burden: 2663.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 59% Two or more races 26% White 20% Black 17% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 6% Cuban 16% Dominican 2%
• Common ancestry: Hispanic 9% Romanian 1% Lithuanian 1%
• Foreign-born: 52% · Canada, Jamaica
• Languages at home: 31% English-only · Spanish 54% French/Haitian/Cajun 10% 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: ▼ -269.03%
• Current HPI: 493.0041
• Rent YoY: ▼ -2.47%
• 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

+192.1% since first listed

12 events — show timeline

• 2026-05-11 Listed $92,000 Beaches MLS
• 2021-09-01 Sold (Public Records) $85,000 Public Records
• 2021-08-25 Sold (MLS) $85,000 Beaches MLS
• 2021-07-18 Pending — Beaches MLS
• 2021-06-27 Listed $89,000 Beaches MLS
• 2014-10-03 Listing Removed — Beaches MLS
• 2013-12-16 Listed $59,500 Beaches MLS
• 2007-02-09 Listing Removed — Beaches MLS
• 2006-07-05 Listed $69,900 Beaches MLS
• 1998-07-23 Sold (Public Records) $29,500 Public Records
• 1993-08-12 Sold (Public Records) $32,500 Public Records
• 1990-03-01 Sold (Public Records) $31,500 Public Records

Property tax history

+5.4%/yr

Latest (2025): $1,444 · -22.7% YoY. Source: county tax records.