2010 Royal Bay Blvd #113 · Kissimmee, FL 34746

$189,900

3 bd · 2.0 ba · 1,326 sqft · Condo public records · 13 Days on market

Built 2023 $350/mo HOA · 17% 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 +11.5/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors jewel, this 3 bedroom, 2 bath home, 1,326 sq. ft of living area condo in Royal Palm Bay. Kitchen has over sized breakfast bar and plenty of storage cabinets all over looking large living room with big picture window. All bedrooms come with nice size closets. Master bathroom has a walk in shower and vanity. It includes the utility room with storage space. Easy care carpet in all of the home. Enjoy the open back space all year long. The community has a club house, underground pool, fitness room for residents and guest. Property is minutes away from all major Attractions, Restaurants, Shopping and major roads. Investors, this is great for Short-term rentals.

Key facts

• Volleyball court
• Community pool
• Tennis courts

Tags

• ROYAL PALM BAY CONDO COMMUNITY
• COMMUNITY POOL
• TENNIS COURTS
• VOLLEYBALL COURT
• CLUBHOUSE WITH A FITNESS ROOM
• PLAYGROUND

Property features AI

Finance

• Other: Third party listing; Living area about 1,326 (public records)
• Financial info: Total annual fees reported $4,200; Lease restrictions apply
• HOA & community: HOA: Royal Palm Bay Condominium Association; Monthly condo/association fee $350; Association approval required; Association fees include structure and grounds maintenance; Community amenities: Fitness center, playground, pool, tennis courts, street lights; Pets not allowed

Exterior

• Parking: Parking details not provided
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity available; Water available
• Home design: Residential condominium; One-level unit (floor 1); Faces north; Completed condition
• Construction: Stucco construction; Shingle roof; Slab foundation; Built/numbered building: 2010
• Exterior features: Lighting; Sidewalk; Sliding doors; Paved lot; Asphalt road surface

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher not listed
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Living room / dining room combo; Open floorplan; Blinds; Smoke detector(s)
• Laundry & utility: Washer; Dryer; Laundry closet; Storage rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $-62 ($-749/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (5.8% below list).
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $179k (5.8% below list) — sets the bar for cash-flow.
• Cap rate 5.9% vs local median 3.5% in Kissimmee — 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 77/100 on livability (#181 in FL, #2,841 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: crime D-, employment D-.
• Osceola (suburban): math 39% / reading 45% proficiency, ranked #60 of 73 in FL (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Reedy Creek Elementary School (math 38% / reading 38%, grade F, #1,587 of 2,144 statewide, top 74%, 880 students, 55% FRL); Horizon Middle School (math 40% / reading 41%, grade F, #360 of 571 statewide, top 64%, 1,295 students, 75% FRL); Poinciana High School (math 24% / reading 31%, grade F, #470 of 667 statewide, top 71%, 2,455 students, 48% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: Rents soft (-1.2%/yr); 1296 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 8,813 units permitted in Osceola County in 2024 (3,072 in 5+ unit buildings).
• This rent runs 34% of the median local income ($71k/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 $6k of value loss. Plan a longer hold.
• Osceola County population projected at +73% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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 $98k; list at $190k implies a 95% 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; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,874 (5.8% 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. Crime grade is D 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 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: 1.07% ✓
• Cap rate: 5.90%
• Cash-on-cash: -1.41%
• DSCR: 0.94
• GRM: 7.8

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: -22.9%
• Equity multiple: 0.24×
• Total profit: $-40,459
• Equity at exit: $28,315

10-year hold

• IRR: -32.5%
• Equity multiple: -0.17×
• Total profit: $-62,373
• Equity at exit: $16,419

Cash invested: $53,172 (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 34746

• Home prices YoY: -33.4%
• Rents YoY: -1.2%
• Active inventory: 1296
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,034 high
• Mortgage (P&I): −$996
• Tax from tax record: −$245 /mo · $2,935/yr
• Insurance: −$79
• HOA: −$350
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $-62

Break-even live

Break-even rent $2,113

Max offer price $178,874

Occupancy floor 98%

Sensitivity live

Price	-10% $45	-5% $-9	+0% $-62	+5% $-116	+10% $-170
Rent	-10% $-223	-5% $-143	+0% $-62	+5% $18	+10% $98
Rate	-1.0pp $33	-0.5pp $-14	base $-62	+0.5pp $-112	+1.0pp $-162

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2010 Royal Bay Blvd Kissimmee, FL	3.0	2.0	1326	$1,719	$1.30	0d	1	0.03mi
2000 Royal Bay Blvd #132 Kissimmee, FL	2.0	2.0	1162	$1,650	$1.42	25d	1	0.05mi
2009 Royal Bay Blvd #141 Kissimmee, FL	3.0	2.0	1326	$1,795	$1.35	0d	1	0.05mi
2009 Royal Bay Blvd #141 Kissimmee, FL	3.0	2.0	1326	$1,795	$1.35	25d	1	0.05mi
2020 Royal Bay Blvd #91 Kissimmee, FL	3.0	2.0	1326	$1,900	$1.43	25d	1	0.09mi
2035 Royal Bay Blvd #46 Kissimmee, FL	3.0	2.0	1350	$1,500	$1.11	25d	1	0.19mi
2036 Royal Bay Blvd #57 Kissimmee, FL	3.0	2.0	1326	$1,735	$1.31	23d	1	0.20mi
2041 Royal Bay Blvd #33 Kissimmee, FL	3.0	2.0	1350	$1,999	$1.48	0d	1	0.22mi
5015 Laguna Bay Cir #91 Kissimmee, FL	3.0	2.0	1220	$1,700	$1.39	19d	1	0.26mi
2047 Royal Bay Blvd #23 Kissimmee, FL	3.0	2.0	1450	$2,050	$1.41	0d	1	0.26mi
5012 Laguna Bay Cir #74 Kissimmee, FL	3.0	2.0	1220	$1,600	$1.31	25d	1	0.30mi
5004 Laguna Bay Cir #48 Kissimmee, FL	2.0	2.0	1066	$1,675	$1.57	25d	1	0.32mi
5006 Laguna Bay Cir #63 Kissimmee, FL	3.0	2.0	1300	$1,750	$1.35	25d	1	0.34mi
2310 Prime Cir Kissimmee, FL	3.0	2.0	1257	$1,750	$1.39	25d	1	0.42mi
2480 Sweetwater Club Cir #98 Kissimmee, FL	3.0	2.0	1220	$1,700	$1.39	18d	1	0.43mi
2480 Sweetwater Club Cir Kissimmee, FL	3.0	2.0	1220	$1,800	$1.48	25d	1	0.44mi
2319 Prime Cir Unit B Kissimmee, FL	3.0	2.0	1251	$1,875	$1.50	14d	1	0.44mi
2327 Prime Cir Unit B Kissimmee, FL	3.0	2.0	1251	$1,650	$1.32	25d	1	0.47mi
2490 Sweetwater Club Cir Kissimmee, FL	3.0	2.0	1220	$1,699	$1.39	16d	1	0.50mi
2492 Sweetwater Club Cir #68 Kissimmee, FL	3.0	2.0	1220	$1,800	$1.48	25d	1	0.50mi
2494 Sweetwater Club Cir #52 Kissimmee, FL	3.0	2.0	1220	$1,880	$1.54	22d	1	0.51mi
2494 Sweetwater Club Cir Kissimmee, FL	3.0	2.0	1220	$1,900	$1.56	25d	1	0.51mi
4837 Jamaica Ln Kissimmee, FL	3.0	2.0	1662	$2,305	$1.39	0d	1	0.60mi
2703 Chatham Cir Kissimmee, FL	4.0	2.5	1874	$3,500	$1.87	16d	1	0.62mi
4855 Kingston Cir Kissimmee, FL	3.0	2.0	1502	$2,400	$1.60	25d	1	0.77mi
4855 Kingston Cir Kissimmee, FL	3.0	2.0	1502	$2,400	$1.60	18d	1	0.77mi
2600 Avondale Ct Unit 1562538P Kissimmee, FL	3.0	2.5	1872	$3,454	$1.85	9d	1	0.83mi
4717 Everglades Cir Kissimmee, FL	3.0–4.0	3.0	1610	$2,154	$1.34	0d	5	1.03mi
4574 Cypress Cay Way Kissimmee, FL	3.0	2.5	1683	$2,250	$1.34	19d	1	1.07mi
4525 Lacuna Ln Kissimmee, FL	2.0–4.0	2.0	1049	$1,560	$1.49	0d	9	1.11mi
4478 Saint Georges Ct Unit A Kissimmee, FL	2.0	2.0	1008	$1,700	$1.69	0d	1	1.12mi
4569 Sparkling Shell Ave Kissimmee, FL	3.0	2.5	1782	$2,500	$1.40	22d	1	1.14mi
4556 Sparkling Shell Ave Kissimmee, FL	3.0	2.5	1699	$2,095	$1.23	25d	1	1.14mi
4556 Sparkling Shell Ave Kissimmee, FL	3.0	2.5	1699	$2,095	$1.23	18d	1	1.14mi
4544 Sparkling Shell Ave Kissimmee, FL	3.0	2.5	1699	$2,100	$1.24	25d	1	1.15mi
2610 Lodi Cir #102 Kissimmee, FL	4.0	2.0	1470	$2,200	$1.50	0d	1	1.15mi
4601 Yellowgold Rd W Unit 8-102 Kissimmee, FL	4.0	3.0	1470	$1,775	$1.21	25d	1	1.15mi
2369 Caravelle Cir Kissimmee, FL	4.0	3.0	1512	$900	$0.60	19d	1	1.15mi
2559 Buena View Rd Kissimmee, FL	3.0	2.5	1699	$2,200	$1.29	25d	1	1.17mi
2608 Lodi Cir #103 Kissimmee, FL	3.0	2.0	1296	$1,950	$1.50	19d	1	1.17mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-21
   days on market $189,900 Active 13 DOM
2. 2026-06-18
   days on market $189,900 Active 10 DOM
3. 2026-06-17
   days on market $189,900 Active 9 DOM
4. 2026-06-16
   days on market $189,900 Active 8 DOM
5. 2026-06-15
   days on market $189,900 Active 7 DOM
6. 2026-06-13
   days on market $189,900 Active 5 DOM
7. 2026-06-13
   days on market $189,900 Active 4 DOM
8. 2026-06-08
   remarks 656-char remark
9. 2026-06-08
   listed $189,900 Active 1 DOM

ⓘ 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: $2,935 · $245/mo
• Projected year-2 tax: $2,935 · $245/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,412
• − Mortgage interest: −$10,637
• − Property taxes: −$2,935
• − Insurance: −$950
• − Repairs & maintenance: −$1,953
• − Management: −$1,953
• − HOA: −$4,200
• − Depreciation: −$5,524
• Taxable loss: −$3,740
• Est. tax savings @ 24.0%: +$898
• After-tax cash flow: $149/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: Osceola
• NCES district ID: 1201470
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $45,528
• Composite: 35.7/100
• National rank: #4865
• State rank: #60 of 73 in FL

Livability — Kissimmee

• Score: 77/100
• State rank: #181
• US rank: #2841

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Osceola County · 410,217 people
• City population: 196,187
• Metro: Orlando-Kissimmee-Sanford, FL
• Population (ZIP): 60,595
• Household income: $70,998
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 1690.0

Population outlook (Osceola County) Hauer SSP2

• Today (2025): 447,624 people
• By 2030: 511,823 · +14.3%
• By 2040: 642,986 · +43.6%
• By 2050: 774,552 · +73.0%
• By 2075: 1,078,144 · +140.9%
• By 2100: 1,269,660 · +183.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 49% White 29% Two or more races 18% Black 14% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 26% Dominican 4%
• Common ancestry: Hispanic 4% Estonian 2% Lithuanian 1%
• Foreign-born: 29% · Canada, Jamaica, China
• Languages at home: 44% English-only · Spanish 41% French/Haitian/Cajun 4% Other Indo-European 4%

Political lean MEDSL · Osceola

• 2024 margin: Toss-up / Even · D 48.7% · R 50.2% · Other 1.1%
• 2008→2024 swing: -21.2pp toward R · 2008: 19.7pp · 2024: -1.4pp
• All cycles: 2024: R+1.4 2020: D+13.8 2016: D+25.0 2012: D+24.5 2008: D+19.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.87%
• Current HPI: 239.1841
• Rent YoY: ▼ -1.23%
• Metro: Orlando-Kissimmee-Sanford, 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

+127.4% since first listed

10 events — show timeline

• 2026-06-08 Listed $189,900 Stellar MLS as Distributed by MLS Grid
• 2024-05-04 Rental Removed $1,799 STELLARMLS
• 2024-04-16 Listed for Rent $1,799 STELLARMLS
• 2017-02-02 Sold (Public Records) $97,500 Public Records
• 2017-01-27 Sold (MLS) $97,500 Stellar MLS as Distributed by MLS Grid
• 2017-01-10 Pending — Stellar MLS as Distributed by MLS Grid
• 2016-10-25 Relisted — Stellar MLS as Distributed by MLS Grid
• 2016-10-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2016-09-28 Listed $102,990 Stellar MLS as Distributed by MLS Grid
• 1994-08-24 Sold (Public Records) $83,500 Public Records

Property tax history

+8.5%/yr

Latest (2025): $2,935 · +9.2% YoY. Source: county tax records.