12013 Greenway Cir S · Royal Palm Beach, FL 33411

$139,000

2 bd · 2.0 ba · 1,048 sqft · SingleFamily · 3 Days on market

Built 1973 $715/mo HOA · 34% of rent

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Why this score? — see what drove the C 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 +11.8/30.0
• Appreciation +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• DSCR +3.5/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this newly renovated, move-in-ready first-floor condo located in the desirable 55+ community of Greenway Village South in Royal Palm Beach. The inviting residence offers comfortable living with a spacious floor plan and a private screened-in patio, perfect for enjoying Florida's lifestyle. This beautifully renovated home offers NEW AC, NEW WATER HEATER, NEW STAINLESS STEEL KITCHEN APPLIANCES, NEW BATHROOM VANITIES, NEW FLOORING, and much more! Additional highlights include accordion shutters on all windows and doors, as well as a newer roof! Greenway Village offers Cable, Internet, Water, Pest Control, Clubhouse, Fitness Center, Pool, Shuffleboard, Bocce Ball, and Library. Locate

Key facts

• First-floor condo
• New flooring
• New water heater

Tags

• FIRST-FLOOR CONDO
• PRIVATE SCREENED-IN PATIO
• NEW AC
• NEW WATER HEATER
• NEW BATHROOM VANITIES
• NEW FLOORING

Property features AI

Finance

• HOA & community: Association: Greenway Village South Association; Monthly HOA fee of $715; HOA covers cable TV, insurance, internet, grounds maintenance, pest control, water, common areas, common real estate tax, and recreation facilities; Community amenities include clubhouse, fitness center, pool, laundry, shuffleboard court, bocce ball, community room, sidewalks, and street lights; Senior community

Exterior

• Parking: Assigned parking and guest parking (1 open space total)
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; 2 stories; Updated / remodeled; Accessible full bath; Faces west
• Construction: Concrete/CBS construction; Mansard roof; Building built as part of a multi-story structure
• Exterior features: Covered patio; Screened patio; Patio

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Garbage disposal; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Custom mirrors; Blinds
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $-38 ($-459/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (4.0% below list).
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $133k (4.0% below list) — sets the bar for cash-flow.

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.
• Zoned schools: Cypress Trails Elementary School (math 52% / reading 62%, grade C+, #781 of 2,144 statewide, top 38%, 492 students, 53% FRL); Crestwood Community Middle (math 49% / reading 52%, grade C, #246 of 571 statewide, top 44%, 724 students, 50% FRL); Royal Palm Beach High School (math 22% / reading 38%, grade F, #441 of 667 statewide, top 67%, 2,343 students, 57% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents flat; 574 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); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($961 loan paydown + $14k appreciation (10.0% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.8% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $133,460 (4.0% 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. Built in 1973 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.49% ✓
• Cap rate: 5.96%
• Cash-on-cash: -1.18%
• DSCR: 0.95
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $508,280
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
789 Hibiscus Dr	0.44mi	3/2.0 (+1)	907 (-14%)	22mo	$440,000	$485	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: 22.3%
• Equity multiple: 2.78×
• Total profit: $69,346
• Equity at exit: $125,222

10-year hold

• IRR: 19.3%
• Equity multiple: 6.11×
• Total profit: $198,918
• Equity at exit: $270,046

Cash invested: $38,920 (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 33411

• Home prices YoY: 1.9%
• Rents YoY: 0.8%
• Active inventory: 574
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,073 high
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$715
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $-38

Break-even live

Break-even rent $2,121

Max offer price $133,460

Occupancy floor 97%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12007 Poinciana Blvd #205 Royal Palm Beach, FL	2.0	2.0	1088	$1,590	$1.46	15d	1	0.09mi
12002 Poinciana Blvd #204 Royal Palm Beach, FL	2.0	2.0	1048	$1,750	$1.67	24d	1	0.19mi
4 W Greenway Dr Unit 201 Royal Palm Beach, FL	1.0	1.5	780	$1,450	$1.86	24d	1	0.20mi
2 Greenway Vlg N #210 Royal Palm Beach, FL	2.0	2.0	1080	$2,000	$1.85	24d	1	0.23mi
7 Greenway Vlg N #107 Royal Palm Beach, FL	1.0	1.5	780	$1,650	$2.12	4d	1	0.25mi
7 Greenway Vlg N Royal Palm Beach, FL	1.0–2.0	1.5–2.0	930	$1,700	$1.83	16d	2	0.25mi
4 Greenway Vlg N #203 Royal Palm Beach, FL	2.0	2.0	1080	$2,000	$1.85	24d	1	0.28mi
830 Royal Palm Beach Blvd Royal Palm Beach, FL	3.0	2.0	1369	$2,766	$2.02	7d	1	0.30mi
201 Seminole Lakes Dr Royal Palm Beach, FL	1.0	1.0	800	$1,400	$1.75	24d	1	0.45mi
11823 Dahlia Dr Royal Palm Beach, FL	3.0	2.0	1385	$2,406	$1.74	7d	1	0.49mi
120 Sparrow Dr Royal Palm Beach, FL	2.0	2.0–2.5	793	$2,200	$2.77	22d	2	0.52mi
120 Sparrow Dr #205 Royal Palm Beach, FL	2.0	2.0	793	$2,200	$2.77	24d	1	0.52mi
73 Macadamia Ct Royal Palm Beach, FL	2.0	2.0	1112	$2,000	$1.80	11d	1	0.57mi
139 Sparrow Dr Royal Palm Beach, FL	2.0–3.0	1.5–2.5	1100	$1,850	$1.68	15d	3	0.71mi
1049 Grandview Cir Royal Palm Beach, FL	3.0	2.0	792	$3,100	$3.91	17d	1	0.81mi
110 Weybridge Cir Unit A Royal Palm Beach, FL	2.0	2.5	1470	$2,350	$1.60	22d	1	0.88mi
132 Weybridge Cir Royal Palm Beach, FL	2.0	2.5	1470	$3,000	$2.04	24d	1	0.88mi
182 Sparrow Dr Unit A Royal Palm Beach, FL	3.0	2.0	1485	$3,000	$2.02	24d	1	0.94mi
263 Deerfield Ct Royal Palm Beach, FL	2.0	2.0	1120	$1,800	$1.61	24d	1	0.96mi
280 Crestwood Cir #204 Royal Palm Beach, FL	2.0	2.0	1024	$2,150	$2.10	15d	1	0.96mi
310 Crestwood Ct N Unit 310 Royal Palm Beach, FL	2.0	2.0	1112	$2,250	$2.02	3d	1	0.98mi
10863 Dalmany Way Royal Palm Beach, FL	3.0	2.0	1232	$3,500	$2.84	24d	1	0.99mi
600 Crestwood Ct N #609 Royal Palm Beach, FL	2.0	2.0	1112	$2,250	$2.02	15d	1	1.00mi
500 Crestwood Ct N #517 Royal Palm Beach, FL	2.0	2.0	1200	$2,200	$1.83	24d	1	1.00mi
500 Crestwood Ct N #517 Royal Palm Beach, FL	2.0	2.0	1200	$2,200	$1.83	18d	1	1.00mi
118 Bobwhite Rd Royal Palm Beach, FL	3.0	2.0	1444	$3,200	$2.22	17d	1	1.02mi
700 Crestwood Ct S #708 Royal Palm Beach, FL	2.0	2.0	1075	$2,750	$2.56	24d	1	1.02mi
300 Crestwood Ct N #310 Royal Palm Beach, FL	2.0	2.0	1112	$2,250	$2.02	4d	1	1.03mi
330 Crestwood Cir #303 Royal Palm Beach, FL	2.0	2.0	1306	$2,150	$1.65	24d	1	1.04mi
1200 Crestwood Ct S #1212 Royal Palm Beach, FL	3.0	2.0	1199	$2,500	$2.09	24d	1	1.04mi
200 Crestwood Ct N #211 Royal Palm Beach, FL	3.0	2.0	1173	$2,400	$2.05	24d	1	1.05mi
202 Sparrow Dr #1 Royal Palm Beach, FL	3.0	2.0	1020	$2,400	$2.35	24d	1	1.06mi
1000 Crestwood Ct S #1009 Royal Palm Beach, FL	2.0	2.0	1112	$2,200	$1.98	7d	1	1.07mi
1700 Crestwood Ct S #1708 Royal Palm Beach, FL	2.0	2.0	1075	$2,200	$2.05	3d	1	1.07mi
340 Crestwood Cir #302 Royal Palm Beach, FL	3.0	2.0	1306	$2,550	$1.95	22d	1	1.08mi
1100 Crestwood Ct S #1109 Royal Palm Beach, FL	2.0	2.0	1128	$2,300	$2.04	24d	1	1.08mi
1601 Lakeview Dr W Unit 1601 Royal Palm Beach, FL	3.0	2.5	1296	$2,375	$1.83	22d	1	1.09mi
210 Sparrow Dr #4 Royal Palm Beach, FL	2.0	2.0	930	$1,900	$2.04	20d	1	1.11mi
1407 Lakeview Dr E Royal Palm Beach, FL	2.0	2.0	1165	$2,300	$1.97	7d	1	1.14mi
11020 Town Cir Wellington, FL	1.0–3.0	1.0–2.0	1013	$2,644	$2.61	1d	14	1.29mi

HOA detail

• Monthly dues: $715 · $8,580/yr
• Likely covers: waterinternetcablepoolgym

Listing history 4 events

1. 2026-06-18
   days on market $139,000 Active 3 DOM
2. 2026-06-17
   days on market $139,000 Active 2 DOM
3. 2026-06-16
   remarks 699-char remark
4. 2026-06-16
   listed $139,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥107°F today · 25 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: $24,871
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$1,990
• − Management: −$1,990
• − HOA: −$8,580
• − Depreciation: −$4,044
• Taxable loss: −$2,298
• Est. tax savings @ 24.0%: +$552
• After-tax cash flow: $92/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): 76,863
• Household income: $92,591
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 1870.0

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: White 44% Hispanic / Latino 24% Black 23% Two or more races 16% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 4% Dominican 2%
• Common ancestry: Hispanic 6% Romanian 2% Italian 1%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 17% French/Haitian/Cajun 4% 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: ▲ 17.04%
• Current HPI: 903.78
• Rent YoY: ▲ 0.85%
• 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

+20.9% since first listed

7 events — show timeline

• 2026-06-15 Listed $139,000 Beaches MLS
• 2025-01-19 Rental Removed $1,800 GFLMLS
• 2024-08-09 Rental Removed $1,800 RMLSFL
• 2024-08-09 Listed for Rent $1,800 RMLSFL
• 2024-08-04 Listed for Rent $1,800 GFLMLS
• 2013-09-21 Listing Removed — Beaches MLS
• 2007-01-24 Listed $115,000 Beaches MLS