8180 Spyglass Dr · West Palm Beach, FL 33412

$549,000

3 bd · 3.0 ba · 2,366 sqft · SingleFamily public records · 55 Days on market

Built 2002 7,911 sqft lot $502/mo HOA · 9% 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 +11.4/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.5/5.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable country club living in a 4BR, 3BA home with over 2,300 sq ft under air. LR, DR, and FR plus a pool on brick patio with private, fenced yard. Preserve view -- no home behind. Privacy extends to the interior with 3 separate bedroom wings. 4th bedroom may be used as a den/study. Large kitchen opens to family room. Tile throughout the house with carpet in the bedrooms. 3-car garage provides plenty of extra room for storage or a work area. Portable generator with transfer switch provides back-up power. Only Berkshire model currently on the market in Ironhorse. Club membership is not required, but very affordable golf and social memberships are available without equity or initiation fee. The social membership includes the clubhouse, restaurant, po... (see supplement for full remarks) Affordable country club living in a 4BR, 3BA home with over 2,300 sq ft under air. LR, DR, and FR plus a pool on brick patio with private, fenced yard. Preserve view -- no home behind.Privacy extends to the interior with 3 separate bedroom wings. 4th bedroom may be used as a den/study. Large kitchen opens to family room. Tile throughout the house with carpet in the bedrooms. 3-car garage provides plenty of extra room for storage or a work area. Portable generator with transfer switch provides back-up power. Only Berkshire model currently on the market in Ironhorse. Club membership is not required, but very affordable golf and social memberships are available without equity or initiation fee. The social membership includes the clubhouse, restaurant, pool, tennis, fitness center, and social activities. Don't miss this opportunity to enjoy the lifestyle of this small, intimate country club community. Ironhorse is conveniently located with easy access to transportation, restaurants, shopping, and cultural centers.

Key facts

• Clean pool
• Move in ready
• Great back yard

Tags

• CLEAN POOL
• SPACIOUS LAYOUT
• GREAT BACK YARD
• MOVE IN READY

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $549k.

Deal economics

• At list price, monthly cash flow is $-188 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $516k (6.0% below list).
• Meets the 1% rule at list price ($6k rent vs $549k).
• Recommended offer: $516k (6.0% below list) — sets the bar for cash-flow.
• Cap rate 5.9% vs local median 3.8% in West Palm Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#75 in FL, #1,255 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, crime 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 rising (+3.9%/yr); 383 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• At $5,674/mo this rent would consume 52% of the median local household income ($130k/yr) (locally 81% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k 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 55 days — a 3% lower offer ($533k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $66k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $295k; list at $549k implies a 86% 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; major wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $515,848 (6.0% 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. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 5.88%
• Cash-on-cash: -1.46%
• DSCR: 0.93
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.85% rent growth · sell at horizon

5-year hold

• IRR: -17.4%
• Equity multiple: 0.38×
• Total profit: $-95,397
• Equity at exit: $81,858

10-year hold

• IRR: -7.4%
• Equity multiple: 0.51×
• Total profit: $-75,496
• Equity at exit: $47,467

Cash invested: $153,720 (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 33412

• Home prices YoY: -18.2%
• Rents YoY: 3.9%
• Active inventory: 383
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $5,674 high
• Mortgage (P&I): −$2,879
• Tax from tax record: −$1,060 /mo · $12,722/yr
• Insurance: −$229
• HOA: −$502
• Vacancy / Maint / Mgmt: −$1,191
• Net cashflow: $-188

Break-even live

Break-even rent $5,911

Max offer price $515,848

Occupancy floor 98%

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: $137,250
• Closing costs: $16,470
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8197 Cypress Point Rd West Palm Beach, FL	3.0	2.5	1989	$4,500	$2.26	24d	1	0.11mi
8282 Spyglass Dr West Palm Beach, FL	4.0	4.0	2336	$7,500	$3.21	24d	1	0.16mi
8387 Ironhorse Ct West Palm Beach, FL	2.0	2.0	2185	$3,800	$1.74	7d	1	0.21mi
7557 Preserve Dr West Palm Beach, FL	4.0	3.5	2891	$9,500	$3.29	24d	1	0.52mi
140 Thornton Dr Palm Beach Gardens, FL	4.0	3.5	2482	$6,000	$2.42	24d	1	0.86mi
8203 Calterra Dr Palm Beach Gardens, FL	3.0	2.0	2033	$4,000	$1.97	20d	1	0.86mi
168 Thornton Dr Palm Beach Gardens, FL	3.0	3.5	2447	$6,500	$2.66	24d	1	0.88mi
8050 Murano Cir Palm Beach Gardens, FL	3.0	2.5	1728	$3,100	$1.79	24d	1	0.94mi
8033 Murano Cir Palm Beach Gardens, FL	3.0	2.5	1728	$3,400	$1.97	17d	1	0.97mi
129 Brookhaven Ct Palm Beach Gardens, FL	4.0	3.5	3184	$25,000	$7.85	24d	1	1.06mi
139 Brookhaven Ct Palm Beach Gardens, FL	4.0	3.5	3136	$8,500	$2.71	14d	1	1.15mi
8709 Man O War Rd Palm Beach Gardens, FL	4.0	3.5	2784	$6,950	$2.50	24d	1	1.20mi
108 Eagleton Ln Palm Beach Gardens, FL	3.0	2.0	2003	$6,500	$3.25	20d	1	1.20mi
137 Eagleton Ct Palm Beach Gardens, FL	3.0	2.5	2344	$12,000	$5.12	24d	1	1.38mi
605 Masters Way Palm Beach Gardens, FL	3.0	3.0	1738	$17,500	$10.07	24d	1	1.47mi
886 Windermere Way Palm Beach Gardens, FL	3.0	2.5	1909	$3,500	$1.83	24d	1	1.47mi

HOA detail

• Monthly dues: $502 · $6,024/yr
• Likely covers: poolgym

Listing history 14 events

1. 2026-04-26
   status Pending
2. 2026-04-14
   price $549,000
3. 2026-03-30
   price $575,000
4. 2026-03-12
   price $599,000
5. 2026-03-05
   status Active
6. 2026-02-26
   status Pending
7. 2026-02-23
   listed $615,000 Active
8. 2013-06-11
   soldstatus $295,000
9. 2013-04-30
   soldstatus $295,000 Sold 1825-char remark

   Show marketing remark (1825 chars)

   Affordable country club living in a 4BR, 3BA home with over 2,300 sq ft under air. LR, DR, and FR plus a pool on brick patio with private, fenced yard. Preserve view -- no home behind. Privacy extends to the interior with 3 separate bedroom wings. 4th bedroom may be used as a den/study. Large kitchen opens to family room. Tile throughout the house with carpet in the bedrooms. 3-car garage provides plenty of extra room for storage or a work area. Portable generator with transfer switch provides back-up power. Only Berkshire model currently on the market in Ironhorse. Club membership is not required, but very affordable golf and social memberships are available without equity or initiation fee. The social membership includes the clubhouse, restaurant, po... (see supplement for full remarks) Affordable country club living in a 4BR, 3BA home with over 2,300 sq ft under air. LR, DR, and FR plus a pool on brick patio with private, fenced yard. Preserve view -- no home behind.Privacy extends to the interior with 3 separate bedroom wings. 4th bedroom may be used as a den/study. Large kitchen opens to family room. Tile throughout the house with carpet in the bedrooms. 3-car garage provides plenty of extra room for storage or a work area. Portable generator with transfer switch provides back-up power. Only Berkshire model currently on the market in Ironhorse. Club membership is not required, but very affordable golf and social memberships are available without equity or initiation fee. The social membership includes the clubhouse, restaurant, pool, tennis, fitness center, and social activities. Don't miss this opportunity to enjoy the lifestyle of this small, intimate country club community. Ironhorse is conveniently located with easy access to transportation, restaurants, shopping, and cultural centers.

10. 2013-04-19
    status Pending 1825-char remark

    Show marketing remark (1825 chars)

    Affordable country club living in a 4BR, 3BA home with over 2,300 sq ft under air. LR, DR, and FR plus a pool on brick patio with private, fenced yard. Preserve view -- no home behind. Privacy extends to the interior with 3 separate bedroom wings. 4th bedroom may be used as a den/study. Large kitchen opens to family room. Tile throughout the house with carpet in the bedrooms. 3-car garage provides plenty of extra room for storage or a work area. Portable generator with transfer switch provides back-up power. Only Berkshire model currently on the market in Ironhorse. Club membership is not required, but very affordable golf and social memberships are available without equity or initiation fee. The social membership includes the clubhouse, restaurant, po... (see supplement for full remarks) Affordable country club living in a 4BR, 3BA home with over 2,300 sq ft under air. LR, DR, and FR plus a pool on brick patio with private, fenced yard. Preserve view -- no home behind.Privacy extends to the interior with 3 separate bedroom wings. 4th bedroom may be used as a den/study. Large kitchen opens to family room. Tile throughout the house with carpet in the bedrooms. 3-car garage provides plenty of extra room for storage or a work area. Portable generator with transfer switch provides back-up power. Only Berkshire model currently on the market in Ironhorse. Club membership is not required, but very affordable golf and social memberships are available without equity or initiation fee. The social membership includes the clubhouse, restaurant, pool, tennis, fitness center, and social activities. Don't miss this opportunity to enjoy the lifestyle of this small, intimate country club community. Ironhorse is conveniently located with easy access to transportation, restaurants, shopping, and cultural centers.

11. 2013-03-04
    listed Contingent 1825-char remark

    Show marketing remark (1825 chars)

    Affordable country club living in a 4BR, 3BA home with over 2,300 sq ft under air. LR, DR, and FR plus a pool on brick patio with private, fenced yard. Preserve view -- no home behind. Privacy extends to the interior with 3 separate bedroom wings. 4th bedroom may be used as a den/study. Large kitchen opens to family room. Tile throughout the house with carpet in the bedrooms. 3-car garage provides plenty of extra room for storage or a work area. Portable generator with transfer switch provides back-up power. Only Berkshire model currently on the market in Ironhorse. Club membership is not required, but very affordable golf and social memberships are available without equity or initiation fee. The social membership includes the clubhouse, restaurant, po... (see supplement for full remarks) Affordable country club living in a 4BR, 3BA home with over 2,300 sq ft under air. LR, DR, and FR plus a pool on brick patio with private, fenced yard. Preserve view -- no home behind.Privacy extends to the interior with 3 separate bedroom wings. 4th bedroom may be used as a den/study. Large kitchen opens to family room. Tile throughout the house with carpet in the bedrooms. 3-car garage provides plenty of extra room for storage or a work area. Portable generator with transfer switch provides back-up power. Only Berkshire model currently on the market in Ironhorse. Club membership is not required, but very affordable golf and social memberships are available without equity or initiation fee. The social membership includes the clubhouse, restaurant, pool, tennis, fitness center, and social activities. Don't miss this opportunity to enjoy the lifestyle of this small, intimate country club community. Ironhorse is conveniently located with easy access to transportation, restaurants, shopping, and cultural centers.

12. 2012-03-31
    historical
13. 2010-08-10
    listed $315,000
14. 2001-07-10
    soldstatus $253,000

ⓘ 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: $12,722 · $1,060/mo
• Projected year-2 tax: $12,722 · $1,060/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 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 24 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: $68,085
• − Mortgage interest: −$30,753
• − Property taxes: −$12,722
• − Insurance: −$2,745
• − Repairs & maintenance: −$5,447
• − Management: −$5,447
• − HOA: −$6,024
• − Depreciation: −$15,971
• Taxable loss: −$11,023
• Est. tax savings @ 24.0%: +$2,646
• After-tax cash flow: $394/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 — West Palm Beach

• Score: 82/100
• State rank: #75
• US rank: #1255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 15,859
• Household income: $130,225
• Rent vs Own: 14.3% rent · 85.7% own
• Severe rent burden: 81.0

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 (72%)
• Race & ethnicity: White 72% Black 11% Hispanic / Latino 11% Two or more races 8% Asian 3%
• Hispanic origin (detail): Puerto Rican 4% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 4% German 2%
• Foreign-born: 16% · Canada, Jamaica, China
• Languages at home: 84% English-only · Spanish 5% French/Haitian/Cajun 5% Other Indo-European 1%

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: ▼ -79.82%
• Current HPI: 358.0854
• Rent YoY: ▲ 3.85%
• 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

+117.0% since first listed

14 events — show timeline

• 2026-04-26 Pending — MARMLS
• 2026-04-14 Price Changed $549,000 MARMLS
• 2026-03-30 Price Changed $575,000 MARMLS
• 2026-03-12 Price Changed $599,000 MARMLS
• 2026-03-05 Relisted — MARMLS
• 2026-02-26 Pending — MARMLS
• 2026-02-23 Listed $615,000 MARMLS
• 2013-06-11 Sold (Public Records) $295,000 Public Records
• 2013-04-30 Sold (MLS) $295,000 Beaches MLS
• 2013-04-19 Pending — Beaches MLS
• 2013-03-04 Listed — Beaches MLS
• 2012-03-31 Listing Removed — Beaches MLS
• 2010-08-10 Listed $315,000 Beaches MLS
• 2001-07-10 Sold (Public Records) $253,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $12,722 · +4.9% YoY. Source: county tax records.