223 Pine Hov Cir Unit A-2 · Greenacres, FL 33463

$155,000

2 bd · 2.0 ba · 924 sqft · Condo public records · 2 Days on market

Built 1982 $434/mo HOA · 23% of rent

---

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 +7.4/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• DSCR +3.4/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOVELY, WELL KEPT 2/2 CONDO IN QUIET LOCATION IN PINE RIDGE SOUTH II. FRESHLY PAINTED, NEWER CARPET & APPLIANCES. WALKIN CLOSETS, UTILITY ROOM, STORAGE CLOSET, SCREENED PORCH. COMMUNITY POOL & CLUBHOUSE. CENTRAL A/C & HEAT REPLACED IN 1995

Key facts

• Clubhouse
• Renovated bathrooms
• Community pool

Tags

• UPDATED KITCHEN
• RENOVATED BATHROOMS
• TILE FLOORING
• SCREENED-IN PATIO
• COMMUNITY POOL
• CLUBHOUSE

Property features AI

Finance

• Other: Association fee includes cable TV, insurance, grounds maintenance, pest control, trash, and common area upkeep
• Financial info: Not a pet-friendly community (pets not allowed); Senior community
• HOA & community: Homeowners association with monthly fee; HOA amenities: clubhouse, pool, shuffleboard court, bocce ball, community room, parking, manager on site, sidewalks; HOA fee paid monthly (amount listed separately by listing)

Exterior

• Parking: Assigned parking; Guest parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric; Sewer and water available
• Home design: Condominium; Multi/split levels (2 total stories); North-facing
• Construction: Stucco and CBS construction; Composition/shingle roof; Built as part of building 223
• Exterior features: Sidewalks; Paved roads; Outbuilding

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate flooring
• 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; Stacked bedroom layout; Closet cabinetry; Blinds and sliding windows
• Laundry & utility: Inside laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $-53 ($-634/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (6.0% below list).
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $146k (6.0% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 69/100 on livability (#490 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: Heritage Elementary School (math 35% / reading 39%, grade F, #1,609 of 2,144 statewide, top 77%, 786 students, 75% FRL); L C Swain Middle School (math 26% / reading 33%, grade F, #469 of 571 statewide, top 84%, 1,451 students, 74% FRL); Santaluces Community High (math 22% / reading 39%, grade F, #434 of 667 statewide, top 66%, 2,675 students, 61% FRL) — zoned schools average 70% FRL vs 52% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 50% district-wide (-17 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.3%/yr); 354 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 31% of the median local income ($74k/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 $1k of loan paydown is wiped out by about $5k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 24y 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 $56k; list at $155k implies a 174% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% 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 $145,673 (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. 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 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?
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: 1.24% ✓
• Cap rate: 5.88%
• Cash-on-cash: -1.46%
• DSCR: 0.94
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.33% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.28×
• Total profit: $-31,319
• Equity at exit: $23,111

10-year hold

• IRR: -21.2%
• Equity multiple: 0.01×
• Total profit: $-42,836
• Equity at exit: $13,402

Cash invested: $43,400 (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 33463

• Home prices YoY: -30.9%
• Rents YoY: 1.3%
• Active inventory: 354
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,921 high
• Mortgage (P&I): −$813
• Tax from tax record: −$259 /mo · $3,107/yr
• Insurance: −$65
• HOA: −$434
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $-53

Break-even live

Break-even rent $1,988

Max offer price $145,673

Occupancy floor 98%

Sensitivity live

Price	-10% $35	-5% $-9	+0% $-53	+5% $-97	+10% $-141
Rent	-10% $-205	-5% $-129	+0% $-53	+5% $23	+10% $99
Rate	-1.0pp $25	-0.5pp $-13	base $-53	+0.5pp $-93	+1.0pp $-134

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
211 Pine Hov Cir Unit D2 Greenacres, FL	2.0	2.0	924	$1,700	$1.84	1d	1	0.09mi
231 Pine Hov Cir Unit A1 Greenacres, FL	1.0	1.0	818	$1,650	$2.02	26d	1	0.11mi
133 Lake Pine Cir Unit B1 Greenacres, FL	1.0	1.0	639	$1,450	$2.27	26d	1	0.16mi
133 Lake Pine Cir Greenacres, FL	1.0	1.0	639	$1,300	$2.03	20d	1	0.16mi
335 Knotty Pine Cir Unit D2 Greenacres, FL	2.0	2.0	937	$1,750	$1.87	26d	1	0.18mi
313 Knotty Pine Cir Unit A2 Greenacres, FL	2.0	2.0	937	$1,900	$2.03	26d	1	0.19mi
317 Knotty Pine Cir Unit A2 Greenacres, FL	2.0	1.0	818	$1,500	$1.83	26d	1	0.19mi
309 Knotty Pine Cir Unit A1 Greenacres, FL	2.0	1.0	818	$1,650	$2.02	1d	1	0.20mi
121 Lake Pine Cir Unit A2 Greenacres, FL	2.0	1.0	818	$1,600	$1.96	26d	1	0.22mi
105 Lake Pine Cir Unit B2 Greenacres, FL	2.0	2.0	937	$2,000	$2.13	26d	1	0.22mi
301 Knotty Pine Cir Unit B2 Greenacres, FL	2.0	2.0	937	$2,300	$2.45	0d	1	0.23mi
102 Lake Pine Cir Unit A2 Greenacres, FL	2.0	1.0	937	$1,500	$1.60	26d	1	0.27mi
104 Lake Pine Cir Unit A1 Greenacres, FL	2.0	2.0	937	$2,050	$2.19	26d	1	0.30mi
4121 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,950	$2.21	26d	1	0.31mi
4147 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$2,000	$2.27	1d	1	0.31mi
4101 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,850	$2.10	12d	1	0.31mi
4205 S 57th Ave Unit G Greenacres, FL	2.0	2.0	1046	$1,900	$1.82	26d	1	0.38mi
4191 S 57th Ave Unit H Greenacres, FL	2.0	2.0	847	$1,750	$2.07	26d	1	0.40mi
4181 S 57th Ave Unit D Greenacres, FL	2.0	2.0	847	$1,850	$2.18	26d	1	0.40mi
4185 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,850	$2.10	23d	1	0.42mi
4221 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,900	$2.15	26d	1	0.44mi
4243 Oak Terrace Dr #4243 Greenacres, FL	2.0	2.0	883	$1,950	$2.21	26d	1	0.45mi
4245 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$2,000	$2.27	26d	1	0.45mi
4259 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,900	$2.15	26d	1	0.46mi
4535 Oak Terrace Dr Greenacres, FL	3.0	2.0	1061	$2,400	$2.26	14d	1	0.51mi
4535 Oak Terrace Dr Greenacres, FL	3.0	2.0	1061	$2,500	$2.36	17d	1	0.51mi
407 Pine Cir Unit C1 Greenacres, FL	2.0	2.0	922	$1,800	$1.95	26d	1	0.65mi
407 Pine Cir Unit B1 Greenacres, FL	2.0	2.0	922	$1,750	$1.90	26d	1	0.65mi
417 Pine Glen Ln Unit C2 Greenacres, FL	2.0	2.0	922	$1,800	$1.95	26d	1	0.66mi
417 Pine Glen Ln Unit D2 Greenacres, FL	2.0	2.0	922	$1,550	$1.68	26d	1	0.66mi
408 Pine Glen Ln Unit C-2 Greenacres, FL	2.0	1.0	804	$1,600	$1.99	26d	1	0.66mi
5905 Triphammer Rd Lake Worth, FL	2.0	2.0	1020	$3,000	$2.94	26d	1	0.69mi
446 Pine Glen Ln Unit A1 Greenacres, FL	1.0	1.0	614	$1,550	$2.52	16d	1	0.70mi
443 Pine Glen Ln Unit B2 Greenacres, FL	2.0	2.0	922	$1,500	$1.63	26d	1	0.71mi
429 Pine Glen Ln Unit C2 Greenacres, FL	2.0	1.0	804	$1,650	$2.05	26d	1	0.75mi
6615 Waterfront Xing Lake Worth, FL	1.0–3.0	1.0–2.0	1087	$2,864	$2.63	1d	23	0.84mi
4838 Esedra Ct Lake Worth, FL	1.0	1.0	804	$1,550	$1.93	26d	2	0.85mi
4254 Deste Ct #305 Greenacres, FL	1.0	1.0	716	$1,500	$2.09	26d	1	0.89mi
5855 S 37th St Unit 5857 Greenacres, FL	2.0	1.0	747	$1,949	$2.61	1d	1	0.90mi
6170 Dodd Rd Unit The Greenacres, FL	2.0	2.0	1000	$2,600	$2.60	26d	1	0.91mi

HOA detail condo

• Monthly dues: $434 · $5,208/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-21
   pricedays on marketlisting id $155,000 Active 2 DOM
2. 2026-05-31
   days on market $149,900 Active 262 DOM
3. 2026-02-18
   price $149,900
4. 2026-01-23
   status Active
5. 2025-11-19
   historical Active Under Contract
6. 2025-09-11
   listed $160,000 Active
7. 2002-07-25
   soldstatus $56,500
8. 2002-07-15
   soldstatus $56,500 251-char remark

   Show marketing remark (251 chars)

   LOVELY, WELL KEPT 2/2 CONDO IN QUIET LOCATION IN PINE RIDGE SOUTH II. FRESHLY PAINTED, NEWER CARPET & APPLIANCES. WALKIN CLOSETS, UTILITY ROOM, STORAGE CLOSET, SCREENED PORCH. COMMUNITY POOL & CLUBHOUSE. CENTRAL A/C & HEAT REPLACED IN 1995

9. 2002-06-10
   historical 251-char remark

   Show marketing remark (251 chars)

   LOVELY, WELL KEPT 2/2 CONDO IN QUIET LOCATION IN PINE RIDGE SOUTH II. FRESHLY PAINTED, NEWER CARPET & APPLIANCES. WALKIN CLOSETS, UTILITY ROOM, STORAGE CLOSET, SCREENED PORCH. COMMUNITY POOL & CLUBHOUSE. CENTRAL A/C & HEAT REPLACED IN 1995

10. 2002-05-13
    listed $59,900 251-char remark

    Show marketing remark (251 chars)

    LOVELY, WELL KEPT 2/2 CONDO IN QUIET LOCATION IN PINE RIDGE SOUTH II. FRESHLY PAINTED, NEWER CARPET & APPLIANCES. WALKIN CLOSETS, UTILITY ROOM, STORAGE CLOSET, SCREENED PORCH. COMMUNITY POOL & CLUBHOUSE. CENTRAL A/C & HEAT REPLACED IN 1995

11. 1990-05-17
    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: $3,107 · $259/mo
• Projected year-2 tax: $3,107 · $259/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 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: $23,051
• − Mortgage interest: −$8,682
• − Property taxes: −$3,107
• − Insurance: −$775
• − Repairs & maintenance: −$1,844
• − Management: −$1,844
• − HOA: −$5,208
• − Depreciation: −$4,509
• Taxable loss: −$2,919
• Est. tax savings @ 24.0%: +$700
• After-tax cash flow: $67/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 — Greenacres

• Score: 69/100
• State rank: #490
• US rank: #9008

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenacres, FL
• County: Palm Beach County · 1,438,312 people
• City population: 65,478
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 65,478
• Household income: $73,865
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 1466.0

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: Hispanic / Latino 38% Black 29% White 27% Two or more races 11% Asian 4%
• Hispanic origin (detail): Mexican 8% Puerto Rican 6% Cuban 5% Dominican 2%
• Common ancestry: Hispanic 15% Romanian 1% Slovak 1%
• Foreign-born: 39% · Canada, Jamaica, China
• Languages at home: 45% English-only · Spanish 32% French/Haitian/Cajun 17% 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: ▼ -175.33%
• Current HPI: 392.055
• Rent YoY: ▲ 1.33%
• 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

+233.1% since first listed

9 events — show timeline

• 2026-02-18 Price Changed $149,900 Beaches MLS
• 2026-01-23 Relisted — Beaches MLS
• 2025-11-19 Contingent — Beaches MLS
• 2025-09-11 Listed $160,000 Beaches MLS
• 2002-07-25 Sold (Public Records) $56,500 Public Records
• 2002-07-15 Sold (MLS) $56,500 Beaches MLS
• 2002-06-10 Listing Removed — Beaches MLS
• 2002-05-13 Listed $59,900 Beaches MLS
• 1990-05-17 Sold (Public Records) $45,000 Public Records

Property tax history

+15.2%/yr

Latest (2025): $3,107 · +419.9% YoY. Source: county tax records.