1012 Shoma Dr · Royal Palm Beach, FL 33414

$297,000

3 bd · 2.0 ba · 1,457 sqft · Condo public records · 142 Days on market

Built 2003 $565/mo HOA · 18% 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 +11.6/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• DSCR +3.4/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully maintained 3-bedroom, 2-bathroom condo featuring two assigned parking spaces and a thoughtfully updated interior. Enjoy peace of mind with a newer AC and water heater. Located on the second floor with your own landing, this bright and airy residence offers comfortable living in a prime location—just minutes from shopping, dining, entertainment, and everything Wellington and Royal Palm Beach have to offer. Perfect for homeowners or investors seeking convenience, value, and lifestyle.

Key facts

• Newer ac
• Updated interior
• Newer water heater

Tags

• UPDATED INTERIOR
• NEWER AC
• NEWER WATER HEATER
• ASSIGNED PARKING SPACES
• PRIME LOCATION

Property features AI

Finance

• HOA & community: HOA with a monthly fee of $565; HOA includes security and water; Community pool

Exterior

• Parking: Assigned parking; 2 open parking spaces
• Security: Fire alarm; Gated community (no guard)
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Multi/split levels; 2 total stories; East-facing
• Construction: Built with CBS (concrete block and stucco)
• Exterior features: Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: 3 bedrooms on the main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Split bedroom layout; Unfurnished

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $297k.

Deal economics

• At list price, monthly cash flow is $-159 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (9.5% below list).
• Meets the 1% rule at list price ($3k rent vs $297k).
• Recommended offer: $261k (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 rising (+2.3%/yr); 616 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 34% of the median local income ($112k/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 $2k of loan paydown is wiped out by about $9k 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 142 days — a 12% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $23k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $261,360 (12.0% 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 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.06% ✓
• Cap rate: 5.92%
• Cash-on-cash: -1.34%
• DSCR: 0.94
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: -20.9%
• Equity multiple: 0.28×
• Total profit: $-60,022
• Equity at exit: $44,284

10-year hold

• IRR: -16.1%
• Equity multiple: 0.13×
• Total profit: $-72,424
• Equity at exit: $25,679

Cash invested: $83,160 (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 33414

• Home prices YoY: -30.2%
• Rents YoY: 2.3%
• Active inventory: 616
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $3,141 high
• Mortgage (P&I): −$1,558
• Tax from tax record: −$328 /mo · $3,931/yr
• Insurance: −$124
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$565
• Vacancy / Maint / Mgmt: −$660
• Net cashflow: $-159

Break-even live

Break-even rent $3,342

Max offer price $268,881

Occupancy floor —

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: $74,250
• Closing costs: $8,910
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1008 Shoma Dr Unit 394 West Palm Beach, FL	2.0	2.5	1282	$2,400	$1.87	18d	1	0.01mi
570 Christina Dr Royal Palm Beach, FL	1.0–3.0	1.0–2.0	1044	$2,862	$2.74	1d	10	0.13mi
3515 Shoma Dr Unit 3515 West Palm Beach, FL	3.0	3.5	1815	$3,250	$1.79	24d	1	0.14mi
2127 Shoma Dr Royal Palm Beach, FL	2.0	2.5	1282	$2,500	$1.95	24d	1	0.20mi
2108 Shoma Dr Royal Palm Beach, FL	3.0	2.0	1457	$2,400	$1.65	24d	1	0.20mi
137 Canterbury Pl Royal Palm Beach, FL	3.0	2.5	1856	$3,500	$1.89	24d	1	0.37mi
640 Pioneer Way Unit 640 Royal Palm Beach, FL	3.0	2.5	1557	$3,100	$1.99	24d	1	0.46mi
220 Pioneer Way Royal Palm Beach, FL	3.0	2.5	1557	$3,200	$2.06	7d	1	0.52mi
11260 Channing Way Unit 212 Royal Palm Beach, FL	3.0	2.0	1417	$3,174	$2.24	24d	1	0.55mi
1090 Quaye Lake Cir Wellington, FL	3.0	3.0	1719	$3,513	$2.04	15d	1	0.56mi
1090 Quaye Lake Cir Wellington, FL	2.0	3.0	1429	$2,761	$1.93	24d	1	0.56mi
1090 Quaye Lake Cir Wellington, FL	2.0	3.0	1501	$2,695	$1.80	14d	1	0.56mi
11200 Nicole Dr Wellington, FL	1.0–4.0	1.0–3.5	1404	$3,799	$2.71	2d	33	0.66mi
11020 Town Cir Wellington, FL	1.0–3.0	1.0–2.0	1013	$3,143	$3.10	1d	14	0.86mi
1592 Carriage Brooke Dr Wellington, FL	3.0	2.0	1662	$3,000	$1.81	24d	1	1.00mi
10793 Oak Bend Way Wellington, FL	4.0	2.5	1852	$4,000	$2.16	11d	1	1.15mi
1664 Oak Berry Cir Wellington, FL	3.0	2.0	1325	$3,650	$2.75	24d	1	1.17mi
10709 Pelican Dr Wellington, FL	2.0	2.0	1244	$2,900	$2.33	7d	1	1.20mi
699 Belle Grove Ln Royal Palm Beach, FL	3.0	2.0	1849	$3,500	$1.89	24d	1	1.23mi
10726 Pelican Dr Wellington, FL	3.0	2.0	1482	$3,500	$2.36	24d	1	1.24mi
10569 Pelican Dr Wellington, FL	4.0	3.5	1843	$3,450	$1.87	14d	1	1.26mi
1950 Polo Lake Blvd Wellington, FL	1.0–3.0	1.0–2.0	1174	$3,449	$2.94	2d	19	1.27mi
11297 Pine Valley Dr Wellington, FL	3.0	2.0	1705	$3,500	$2.05	24d	1	1.28mi
1104 Jackpine St Unit (off-season) Wellington, FL	3.0	2.0	1760	$3,500	$1.99	24d	1	1.30mi
1104 Jackpine St Wellington, FL	3.0	2.0	1760	$6,700	$3.81	24d	1	1.30mi
10614 Lake Shore Dr Wellington, FL	3.0	2.0	1550	$3,200	$2.06	24d	1	1.35mi
10667 Lake Shore Dr Wellington, FL	3.0	2.5	1853	$2,600	$1.40	24d	1	1.37mi
502 Rambling Drive Cir Unit 2 Wellington, FL	2.0	1.0	1413	$2,400	$1.70	24d	1	1.37mi
1313 Pinetta Cir Wellington, FL	3.0	2.0	1469	$3,700	$2.52	15d	1	1.39mi
1891 Oak Berry Cir Wellington, FL	3.0	2.0	1358	$4,850	$3.57	18d	1	1.40mi
1379 Pinetta Cir Wellington, FL	3.0	2.0	1452	$3,350	$2.31	24d	1	1.43mi

HOA detail condo

• Monthly dues: $565 · $6,780/yr
• Likely covers: waterparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $297,000 Active 142 DOM
2. 2026-06-17
   days on market $297,000 Active 141 DOM
3. 2026-06-16
   days on market $297,000 Active 140 DOM
4. 2026-06-15
   days on market $297,000 Active 139 DOM
5. 2026-06-13
   days on market $297,000 Active 137 DOM
6. 2026-06-09
   days on market $297,000 Active 133 DOM
7. 2026-06-07
   days on market $297,000 Active 131 DOM
8. 2026-06-04
   days on market $297,000 Active 128 DOM
9. 2026-06-03
   days on market $297,000 Active 127 DOM
10. 2026-06-01
    days on market $297,000 Active 125 DOM
11. 2026-05-31
    days on market $297,000 Active 124 DOM
12. 2026-02-20
    price $297,000
13. 2026-01-27
    listed $320,000 Active
14. 2023-08-11
    soldstatus $290,000
15. 2023-06-01
    historical
16. 2023-05-02
    price $290,000
17. 2023-03-30
    price $295,000
18. 2023-03-10
    status Active
19. 2023-02-04
    historical
20. 2023-01-01
    listed $304,900 Active
21. 2019-12-18
    soldstatus $172,500
22. 2005-07-01
    soldstatus $225,500

ⓘ 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: $3,931 · $328/mo
• Projected year-2 tax: $3,931 · $328/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,688
• − Mortgage interest: −$16,637
• − Property taxes: −$3,931
• − Insurance: −$2,282
• − Repairs & maintenance: −$3,015
• − Management: −$3,015
• − HOA: −$6,780
• − Depreciation: −$8,640
• Taxable loss: −$6,612
• Est. tax savings @ 24.0%: +$1,587
• After-tax cash flow: $-323/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): 60,184
• Household income: $112,241
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 1566.0

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 0.67)
• Race & ethnicity: White 47% Hispanic / Latino 29% Two or more races 20% Black 13% Asian 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Cuban 6% Dominican 1% Salvadoran 1%
• Common ancestry: Hispanic 4% Romanian 3% Lithuanian 2%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 67% English-only · Spanish 23% French/Haitian/Cajun 3% Other Indo-European 3%

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: ▼ -152.58%
• Current HPI: 352.9366
• Rent YoY: ▲ 2.31%
• 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

+31.7% since first listed

11 events — show timeline

• 2026-02-20 Price Changed $297,000 Beaches MLS
• 2026-01-27 Listed $320,000 Beaches MLS
• 2023-08-11 Sold (Public Records) $290,000 Public Records
• 2023-06-01 Listing Removed — Beaches MLS
• 2023-05-02 Price Changed $290,000 Beaches MLS
• 2023-03-30 Price Changed $295,000 Beaches MLS
• 2023-03-10 Relisted — Beaches MLS
• 2023-02-04 Listing Removed — Beaches MLS
• 2023-01-01 Listed $304,900 Beaches MLS
• 2019-12-18 Sold (Public Records) $172,500 Public Records
• 2005-07-01 Sold (Public Records) $225,500 Public Records

Property tax history

+13.1%/yr

Latest (2025): $3,931 · +3.3% YoY. Source: county tax records.