2580 Boundbrook Blvd #202 · Palm Springs, FL 33406

$114,500

2 bd · 2.0 ba · 1,103 sqft · Condo public records · 97 Days on market

Built 1970 $605/mo HOA · 30% of rent

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Why this score? — see what drove the B- 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 +27.2/30.0
• 1% rule +10.0/10.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

REDUCED PRICE! immaculate 2/2 bath apartment in the heart of Palm Beach County. This spacious and bright condo has been freshly painted, new carpet in bedrooms, Tiled kitchen and baths and newly installed enclosed patio vinyl sliding windows. Other upgrades include new Electrical Panel 2023, Washer & Dryer 2024, Dishwasher 2025, Refrigerator 2023 and HVAV handler in 2025. Enjoy the benefit of low HOA fees that include cable, internet, water, building insurance that includes roof coverage and exterior upkeep. Don't miss this opportunity!

Key facts

• Low hoa fees
• New carpet
• Freshly painted

Tags

• FRESHLY PAINTED
• NEW CARPET
• ENCLOSED PATIO
• VINYL SLIDING WINDOWS
• LOW HOA FEES

Property features AI

Finance

• HOA & community: Condominium association with monthly fee (association includes cable TV, insurance, grounds maintenance, pest control, sewer, trash, water, common areas, hot water); Association amenities include pool, game room, shuffleboard court, library, management, manager on site, internet included, street lights; Senior community; Pets allowed (possible pet restrictions)

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Public water; Public sewer; Three-phase electric service; Cable available
• Home design: Condominium; Multi/split levels; 2-story building; Faces west; Resale property
• Construction: CBS construction; Barrel roof; Built as part of an existing condominium (public records)
• Exterior features: Covered patio; Screened patio; Patio

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Trash compactor; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: High ceilings; Walk-in closet(s); Single-hung metal 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 $114k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $104k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#297 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: Meadow Park Elementary School (math 64% / reading 73%, grade B+, #409 of 2,144 statewide, top 20%, 809 students, 65% FRL); Forest Hill Community High School (math 20% / reading 41%, grade F, #434 of 667 statewide, top 66%, 2,407 students, 66% FRL).
• Market conditions: Rents flat; 99 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 32% of the median local income ($77k/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 $792 of loan paydown is wiped out by about $3k 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 97 days — a 9% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; list at $114k implies a 154% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: 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 $104,195 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.79% ✓
• Cap rate: 9.72%
• Cash-on-cash: 12.23%
• DSCR: 1.54
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.68% rent growth · sell at horizon

5-year hold

• IRR: -1.8%
• Equity multiple: 0.94×
• Total profit: $-2,073
• Equity at exit: $17,072

10-year hold

• IRR: 4.0%
• Equity multiple: 1.25×
• Total profit: $8,080
• Equity at exit: $9,900

Cash invested: $32,060 (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 33406

• Rents YoY: 0.7%
• Active inventory: 99
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,046 high
• Mortgage (P&I): −$600
• Tax from tax record: −$36 /mo · $434/yr
• Insurance: −$48
• HOA: −$605
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $327

Break-even live

Break-even rent $1,632

Max offer price $114,500

Occupancy floor 79%

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: $28,625
• Closing costs: $3,435
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
230 Lake Arbor Dr Palm Springs, FL	2.0	2.0	1232	$2,200	$1.79	24d	1	0.12mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	15d	1	0.20mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	8d	1	0.20mi
2721 Garden Dr N #105 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	21d	1	0.22mi
2791 S Florida Mango Rd Lake Worth, FL	2.0	2.0	1100	$1,995	$1.81	21d	1	0.22mi
331 Lake Arbor Dr Palm Springs, FL	2.0	2.0	1232	$2,300	$1.87	24d	1	0.23mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	4d	1	0.26mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	2d	1	0.26mi
21 Lake Arbor Dr Palm Springs, FL	2.0	2.5	1232	$2,500	$2.03	19d	1	0.27mi
2566 Garden Dr S Lake Worth Beach, FL	1.0	1.0	744	$1,395	$1.88	24d	1	0.38mi
2856 Garden Dr S #112 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	24d	1	0.45mi
2428 Waterside Dr Unit 2428 Lake Worth Beach, FL	2.0	2.5	1400	$2,250	$1.61	24d	1	0.51mi
2391 Waterside Dr Unit 22d Lake Worth, FL	2.0	3.0	1328	$2,600	$1.96	24d	1	0.59mi
100 Rex Ave Palm Springs, FL	2.0	2.0	1000	$1,850	$1.85	24d	3	0.61mi
1742 W Terrace Dr Lake Worth Beach, FL	2.0	1.5	1000	$2,700	$2.70	24d	1	0.70mi
220 Henthorne Dr Palm Springs, FL	1.0–2.0	1.5–2.0	900	$1,850	$2.06	24d	4	0.71mi
1905 Meadow Ct West Palm Beach, FL	3.0	2.0	1222	$7,000	$5.73	24d	1	0.71mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,746	$2.18	14d	1	0.71mi
2508 10th Ave N Lake Worth Beach, FL	3.0	2.0	1025	$2,557	$2.49	24d	1	0.71mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,672	$2.09	11d	1	0.71mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,558	$2.65	2d	14	0.72mi
910 Rudolf Rd Lake Worth, FL	3.0	1.0	1000	$2,500	$2.50	24d	1	0.73mi
2901 10th Ave N Palm Springs, FL	2.0	1.0	900	$1,795	$1.99	24d	1	0.73mi
225 Bonnie Blvd #116 Palm Springs, FL	2.0	2.0	988	$1,850	$1.87	19d	1	0.79mi
225 Bonnie Blvd Palm Springs, FL	1.0–2.0	1.5–2.0	944	$1,850	$1.96	24d	2	0.79mi
3386 Rudolph Rd Lake Worth Beach, FL	2.0	1.0	840	$2,100	$2.50	3d	1	0.81mi
124 Abaco Dr Palm Springs, FL	3.0	2.0	988	$2,900	$2.94	15d	1	0.83mi
3300 Boutwell Rd Lake Worth Beach, FL	1.0–2.0	1.0–2.0	765	$2,720	$3.56	24d	1	0.85mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,850	$2.24	24d	3	0.86mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,750	$2.06	24d	2	0.87mi
247 Cypress Ln Unit 246-C12 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	5d	1	0.88mi
247 Cypress Ln Unit 246-C06 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	24d	1	0.88mi
3440 Rudolph Rd Unit 3440-03 Lake Worth Beach, FL	2.0	2.0	935	$2,100	$2.25	19d	1	0.88mi
3431 Helena Dr Unit 3481-11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	24d	1	0.90mi
3431 Helena Dr Lake Worth, FL	2.0	2.0	935	$2,075	$2.22	14d	2	0.90mi
3481 Helena Dr Unit 11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	24d	1	0.91mi
500 Bonnie Blvd #165 Palm Springs, FL	1.0	1.5	782	$1,350	$1.73	24d	1	0.91mi
701 Lori Dr #204 Palm Springs, FL	2.0	2.0	994	$1,700	$1.71	24d	1	0.93mi
300 Bonnie Blvd #144 Palm Springs, FL	1.0	1.0	702	$1,350	$1.92	24d	1	0.95mi
504 Davis Rd #96 Palm Springs, FL	2.0	2.0	1080	$2,000	$1.85	24d	1	0.95mi

HOA detail condo

• Monthly dues: $605 · $7,260/yr
• Likely covers: waterelectricinternetcableinsurance
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-07
   status $114,500 Pending 97 DOM
2. 2026-06-04
   days on market $114,500 Active 97 DOM
3. 2026-06-03
   days on market $114,500 Active 96 DOM
4. 2026-06-02
   days on market $114,500 Active 95 DOM
5. 2026-06-01
   days on market $114,500 Active 94 DOM
6. 2026-05-31
   days on market $114,500 Active 93 DOM
7. 2026-05-15
   price $114,500
8. 2026-05-07
   price $115,500
9. 2026-04-18
   price $116,500
10. 2026-04-04
    price $117,900
11. 2026-03-16
    price $119,900
12. 2026-02-25
    listed $124,900 Active
13. 1995-02-22
    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: $434 · $36/mo
• Projected year-2 tax: $950 · $79/mo
• Expected delta: +$517/yr (+$43/mo · 119.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,548
• − Mortgage interest: −$6,414
• − Property taxes: −$434
• − Insurance: −$572
• − Repairs & maintenance: −$1,964
• − Management: −$1,964
• − HOA: −$7,260
• − Depreciation: −$3,331
• Taxable income: $2,609
• Est. tax owed @ 24.0%: −$626
• After-tax cash flow: $3,295/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 — Palm Springs

• Score: 73/100
• State rank: #297
• US rank: #5045

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment D+ Housing A+ Health & safety A 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: 49,443
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 26,945
• Household income: $77,075
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 768.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 54% White 33% Two or more races 29% Black 8% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5% Cuban 17% Dominican 5% Salvadoran 1%
• Common ancestry: Hispanic 3% Lithuanian 2% Romanian 1%
• Foreign-born: 39% · Canada, Jamaica, Vietnam
• Languages at home: 45% English-only · Spanish 49% French/Haitian/Cajun 2% 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: ▼ -384.39%
• Current HPI: 441.2523
• Rent YoY: ▲ 0.68%
• 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

+154.4% since first listed

7 events — show timeline

• 2026-05-15 Price Changed $114,500 Beaches MLS
• 2026-05-07 Price Changed $115,500 Beaches MLS
• 2026-04-18 Price Changed $116,500 Beaches MLS
• 2026-04-04 Price Changed $117,900 Beaches MLS
• 2026-03-16 Price Changed $119,900 Beaches MLS
• 2026-02-25 Listed $124,900 Beaches MLS
• 1995-02-22 Sold (Public Records) $45,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $434 · +7.1% YoY. Source: county tax records.