7685 Springwater Pl #201 · Golf, FL 33437

$360,000

3 bd · 2.0 ba · 1,822 sqft · Condo public records · 1 Days on market

Built 1998 $932/mo HOA · 26% 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 +7.6/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• Appreciation +4.9/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0

Key facts

• $932 HOA
• Garage
• Community pool

Property features AI

Finance

• Other: Accessible elevator installed
• HOA & community: Monthly HOA dues; Association amenities: basketball court, billiard room, clubhouse, pool, spa/hot tub, community room, handball, pickleball courts, security; Association covers maintenance of grounds, sewer, trash, water and common areas; Allows pets with number limits; Senior community

Exterior

• Parking: Covered parking; Detached garage; Detached carport; Garage (1 space); Carport (1 space); 2 covered spaces total
• Security: Key card entry; Security patrol
• Utilities: Public water; Public sewer; Cable available; Electricity available
• Home design: Condominium; Two levels; First-floor entry with elevator; South-facing
• Construction: Built with CBS construction materials; Other roof
• Exterior features: Screened patio; Screened porch; Patio; Porch; Terrace; Waterfront property

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Vaulted ceilings
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $360k.

Deal economics

• At list price, monthly cash flow is $-428 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $284k (21.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $358k (0.6% below list).
• Recommended offer: $284k (21.0% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 63/100 on livability (#703 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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: Crystal Lakes Elementary School (math 55% / reading 64%, grade B-, #690 of 2,144 statewide, top 34%, 788 students, 37% FRL); Park Vista Community High School (math 43% / reading 64%, grade C-, #146 of 667 statewide, top 22%, 3,191 students, 28% FRL) — zoned schools average 33% FRL vs 52% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.3%/yr); 490 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $3,579/mo this rent would consume 53% of the median local household income ($81k/yr) (locally 902% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $2k of equity ($2k loan paydown + $-870 appreciation (-0.2% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 6y 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 $210k; list at $360k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $284,409 (21.0% 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. 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?
6. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 4.87%
• Cash-on-cash: -5.09%
• DSCR: 0.77
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.24% appreciation · 1.28% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.53×
• Total profit: $-47,419
• Equity at exit: $100,203

10-year hold

• IRR: -5.7%
• Equity multiple: 0.45×
• Total profit: $-55,707
• Equity at exit: $117,046

Cash invested: $100,800 (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 33437

• Home prices YoY: -0.1%
• Rents YoY: 1.3%
• Active inventory: 490
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $3,579 high
• Mortgage (P&I): −$1,888
• Tax from tax record: −$285 /mo · $3,425/yr
• Insurance: −$150
• HOA: −$932
• Vacancy / Maint / Mgmt: −$752
• Net cashflow: $-428

Break-even live

Break-even rent $4,121

Max offer price $284,409

Occupancy floor —

Sensitivity live

Price	-10% $-224	-5% $-326	+0% $-428	+5% $-530	+10% $-632
Rent	-10% $-711	-5% $-569	+0% $-428	+5% $-287	+10% $-145
Rate	-1.0pp $-247	-0.5pp $-336	base $-428	+0.5pp $-521	+1.0pp $-616

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7192 Summer Tree Dr Boynton Beach, FL	2.0	2.0	1722	$3,000	$1.74	25d	1	0.02mi
7275 Summer Tree Dr Boynton Beach, FL	2.0	2.0	1722	$4,300	$2.50	25d	1	0.14mi
7891 Sailing Shores Ter Unit 7891 Boynton Beach, FL	3.0	2.0	2011	$3,000	$1.49	9d	1	0.28mi
7891 Sailing Shores Ter Boynton Beach, FL	3.0	2.0	2011	$3,400	$1.69	18d	1	0.28mi
9650 Harbour Lake Cir Boynton Beach, FL	3.0	2.0	1937	$2,975	$1.54	25d	1	0.36mi
7577 Caprio Dr Boynton Beach, FL	3.0	2.0	1884	$3,200	$1.70	4d	1	0.37mi
7577 Caprio Dr Boynton Beach, FL	3.0	2.0	1884	$3,200	$1.70	15d	1	0.37mi
8884 Shoal Creek Ln Boynton Beach, FL	3.0	2.0	1936	$4,900	$2.53	25d	1	0.45mi
8884 Shoal Creek Ln Boynton Beach, FL	3.0	2.0	1936	$4,750	$2.45	0d	1	0.45mi
8884 Shoal Creek Ln Boynton Beach, FL	3.0	2.0	1936	$5,000	$2.58	12d	1	0.45mi
7832 Rockford Rd Boynton Beach, FL	3.0	2.0	1598	$3,800	$2.38	23d	1	0.67mi
7725 Rockford Rd Boynton Beach, FL	3.0	2.5	2249	$10,000	$4.45	4d	1	0.69mi
7936 Rockford Rd Boynton Beach, FL	3.0	2.0	1871	$9,000	$4.81	23d	1	0.86mi
9336 Water Course Way Boynton Beach, FL	3.0	2.0	1779	$3,600	$2.02	23d	1	0.87mi
9336 Water Course Way Boynton Beach, FL	3.0	2.0	1779	$3,600	$2.02	25d	1	0.87mi
7975 Rockford Rd Boynton Beach, FL	2.0	2.0	1720	$3,700	$2.15	25d	1	0.88mi
7821 Dorchester Rd Boynton Beach, FL	3.0	3.0	2325	$11,000	$4.73	25d	1	0.93mi
6731 Southport Dr Boynton Beach, FL	3.0	2.0	1727	$3,600	$2.08	25d	1	0.95mi
10206 Stonehenge Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1054	$2,650	$2.51	0d	12	0.97mi
9121 Paragon Way Boynton Beach, FL	4.0	2.0	2154	$4,950	$2.30	25d	1	1.06mi
6365 Lansdowne Cir Boynton Beach, FL	3.0	2.0	1769	$3,200	$1.81	4d	1	1.11mi
7816 Bridlington Dr Boynton Beach, FL	3.0	3.0	2330	$12,000	$5.15	25d	1	1.11mi
8082 Aberdeen Dr #102 Boynton Beach, FL	2.0	2.0	1619	$8,500	$5.25	25d	1	1.14mi
7933 Venture Center Way Boynton Beach, FL	1.0–3.0	1.0–2.0	1120	$2,911	$2.60	0d	17	1.19mi
6165 Country Fair Cir Boynton Beach, FL	3.0	2.5	1656	$3,200	$1.93	25d	1	1.20mi
9926 Watermill Cir Unit F Boynton Beach, FL	3.0	2.0	1471	$2,400	$1.63	25d	1	1.22mi
6039 Sunberry Cir Boynton Beach, FL	4.0	2.0	2149	$3,650	$1.70	6d	1	1.24mi
6143 Windlass Cir Boynton Beach, FL	4.0	2.5	2245	$4,200	$1.87	20d	1	1.26mi
7662 Spatterdock Dr Boynton Beach, FL	4.0	2.5	1966	$3,600	$1.83	0d	1	1.35mi
8451 Siciliano St Boynton Beach, FL	3.0	2.0	1627	$3,200	$1.97	14d	1	1.37mi
7418 Wescott Ter Lake Worth, FL	3.0	2.5	2170	$3,250	$1.50	9d	1	1.38mi
9629 El Clair Ranch Rd Boynton Beach, FL	4.0	2.0	2231	$4,800	$2.15	25d	1	1.38mi
8481 Siciliano St Unit 8481 Boynton Beach, FL	3.0	2.0	1774	$3,650	$2.06	25d	1	1.39mi
9284 Laurel Green Dr Boynton Beach, FL	3.0	2.0	2302	$4,200	$1.82	11d	1	1.39mi
9284 Laurel Green Dr Boynton Beach, FL	3.0	2.0	2302	$4,200	$1.82	2d	1	1.39mi
9284 Laurel Green Dr Boynton Beach, FL	3.0	2.0	2302	$4,300	$1.87	23d	1	1.39mi
10390 Utopia Cir E Unit 10390 Boynton Beach, FL	3.0	2.0	1845	$4,200	$2.28	25d	1	1.40mi
10390 Utopia Cir E Unit E Boynton Beach, FL	3.0	2.0	1845	$4,200	$2.28	4d	1	1.40mi
7705 Thornlee Dr Lake Worth, FL	4.0	2.5	2382	$3,500	$1.47	3d	1	1.48mi
9654 Sun Pointe Dr Boynton Beach, FL	4.0	2.0	2142	$4,400	$2.05	25d	1	1.50mi

HOA detail condo

• Monthly dues: $932 · $11,184/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-05-27
   status Pending
2. 2026-05-26
   listed $360,000 Active
3. 2026-04-14
   historical
4. 2026-01-06
   listed $379,000 Active
5. 2026-01-01
   historical
6. 2025-10-09
   price $399,000
7. 2025-05-30
   listed $415,000 Active
8. 2023-04-26
   historical
9. 2023-03-23
   listed $449,500 Active
10. 2021-03-25
    soldstatus $210,000
11. 2021-03-23
    soldstatus $210,000 Closed
12. 2021-03-01
    status Pending
13. 2021-02-18
    historical Active Under Contract
14. 2021-01-05
    price $220,000
15. 2020-12-22
    listed $235,000 Active

ⓘ 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: $3,425 · $285/mo
• Projected year-2 tax: $3,425 · $285/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 9/10 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,948
• − Mortgage interest: −$20,166
• − Property taxes: −$3,425
• − Insurance: −$1,800
• − Repairs & maintenance: −$3,436
• − Management: −$3,436
• − HOA: −$11,184
• − Depreciation: −$10,473
• Taxable loss: −$10,971
• Est. tax savings @ 24.0%: +$2,633
• After-tax cash flow: $-2,502/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 — Golf

• Score: 63/100
• State rank: #703
• US rank: #14941

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing A+ Health & safety F 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: 148,060
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 37,229
• Household income: $80,710
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 902.0

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 (68%)
• Race & ethnicity: White 68% Two or more races 13% Hispanic / Latino 12% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1% Dominican 1%
• Common ancestry: Scotch-Irish 8% Romanian 8% Hispanic 6%
• Foreign-born: 18% · Canada, Jamaica, Vietnam
• Languages at home: 78% English-only · Spanish 10% French/Haitian/Cajun 6% 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: ▼ -0.24%
• Current HPI: 257.5891
• Rent YoY: ▲ 1.28%
• 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

+53.2% since first listed

15 events — show timeline

• 2026-05-27 Pending — Beaches MLS
• 2026-05-26 Listed $360,000 Beaches MLS
• 2026-04-14 Listing Removed — Beaches MLS
• 2026-01-06 Listed $379,000 Beaches MLS
• 2026-01-01 Listing Removed — Beaches MLS
• 2025-10-09 Price Changed $399,000 Beaches MLS
• 2025-05-30 Listed $415,000 Beaches MLS
• 2023-04-26 Listing Removed — Beaches MLS
• 2023-03-23 Listed $449,500 Beaches MLS
• 2021-03-25 Sold (Public Records) $210,000 Public Records
• 2021-03-23 Sold (MLS) $210,000 MARMLS
• 2021-03-01 Pending — MARMLS
• 2021-02-18 Contingent — MARMLS
• 2021-01-05 Price Changed $220,000 MARMLS
• 2020-12-22 Listed $235,000 MARMLS

Property tax history

+3.7%/yr

Latest (2025): $3,425 · +3.2% YoY. Source: county tax records.