835 Salem Ln · Greenacres, FL 33467

$132,900

1 bd · 1.0 ba · 642 sqft · Condo public records · 45 Days on market

Built 1983 $387/mo HOA · 20% 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 +23.3/30.0
• 1% rule +9.8/10.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this functional 1-bedroom, 1-bathroom condo in the +55 Covered Bridge community in Lake Worth. Offering 642 square feet of living space, this unit features a well designed layout as well as a screened-in patio for year-round enjoyment of the amazing Florida weather. The community offers great amenities such as 2 nice heated swimming pools, clubhouse, tennis courts, shuffleboard, walking paths and more. Enjoy the ease of nearby access to major highways, shopping centers, dining options, recreational parks, and the beaches. Come see this great opportunity with lots of potential. Call and schedule your showing today! Images in this listing have been virtually staged.

Key facts

• $387 HOA
• 2 parking spots
• Community pool

Property features AI

Finance

• Other: Pets allowed (subject to possible restrictions and limits)
• HOA & community: Community association with monthly fee (includes cable TV, insurance, water, common area maintenance, grounds maintenance); Amenities: clubhouse, fitness center, pool, shuffleboard court, tennis courts; Senior community

Exterior

• Parking: Assigned parking; Guest parking (total 2 spaces)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected (three phase available); Cable connected
• Home design: Condominium; One-story; Entry on level 1; Faces east; Resale property
• Construction: Block/CBS construction; Other roof type
• Exterior features: Screened patio; Patio; Paved road access; Not waterfront

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: One bedroom on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Walk-in closet(s); Blinds and other window coverings; Negotiable furnished status
• Laundry & utility: In-unit laundry with washer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $133k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $133k).
• Recommended offer: $129k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#490 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: Liberty Park Elementary School (math 25% / reading 38%, grade F, #1,841 of 2,144 statewide, top 86%, 845 students, 76% FRL); Okeeheelee Middle School (math 34% / reading 40%, grade F, #399 of 571 statewide, top 71%, 1,377 students, 68% FRL) — zoned schools average 72% FRL vs 52% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 50% district-wide (-15 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.4%/yr); 651 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $919 of loan paydown is wiped out by about $4k 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 45 days — a 3% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $7k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $64k; list at $133k implies a 108% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,913 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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?
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: 1.48% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.86%
• DSCR: 1.35
• GRM: 5.6

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: -8.8%
• Equity multiple: 0.69×
• Total profit: $-11,511
• Equity at exit: $19,816

10-year hold

• IRR: -5.7%
• Equity multiple: 0.70×
• Total profit: $-11,245
• Equity at exit: $11,491

Cash invested: $37,212 (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 33467

• Rents YoY: -0.4%
• Active inventory: 651
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,971 high
• Mortgage (P&I): −$697
• Tax from tax record: −$174 /mo · $2,088/yr
• Insurance: −$55
• HOA: −$387
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $244

Break-even live

Break-even rent $1,662

Max offer price $132,900

Occupancy floor 83%

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: $33,225
• Closing costs: $3,987
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4310 Chukka Ln Lake Worth, FL	1.0–3.0	1.0–2.0	986	$2,311	$2.34	1d	21	0.86mi
7137 Golf Colony Ct #202 Lake Worth, FL	2.0	2.0	735	$1,995	$2.71	15d	1	0.90mi
7137 Golf Colony Ct #202 Lake Worth, FL	2.0	2.0	735	$2,000	$2.72	4d	1	0.90mi
7091 Golf Colony Ct #201 Lake Worth, FL	2.0	2.0	735	$1,850	$2.52	14d	1	0.92mi
7178 Golf Colony Ct #101 Lake Worth, FL	2.0	2.0	735	$1,700	$2.31	24d	1	0.92mi
4120 Tivoli Ct #305 Lake Worth, FL	1.0	1.0	704	$1,750	$2.49	24d	1	0.95mi
4284 Deste Ct #304 Greenacres, FL	1.0	1.0	716	$2,200	$3.07	16d	1	1.00mi
4230 Deste Ct Unit 305 Greenacres, FL	1.0	1.0	716	$1,900	$2.65	5d	1	1.01mi
4236 Deste Ct #108 Greenacres, FL	1.0	1.0	716	$1,800	$2.51	17d	1	1.05mi
4254 Deste Ct #305 Greenacres, FL	1.0	1.0	716	$1,500	$2.09	24d	1	1.20mi

HOA detail condo

• Monthly dues: $387 · $4,644/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $132,900 Active 45 DOM
2. 2026-06-17
   days on market $132,900 Active 44 DOM
3. 2026-06-16
   days on market $132,900 Active 43 DOM
4. 2026-06-15
   days on market $132,900 Active 42 DOM
5. 2026-06-13
   pricedays on market $132,900 Active 40 DOM
6. 2026-06-09
   days on market $139,900 Active 36 DOM
7. 2026-06-08
   days on market $139,900 Active 35 DOM
8. 2026-06-07
   days on market $139,900 Active 34 DOM
9. 2026-06-04
   days on market $139,900 Active 31 DOM
10. 2026-06-03
    days on market $139,900 Active 30 DOM
11. 2026-06-02
    days on market $139,900 Active 29 DOM
12. 2026-06-01
    days on market $139,900 Active 28 DOM
13. 2026-05-31
    days on market $139,900 Active 27 DOM
14. 2026-05-04
    listed $139,900 Active
15. 2026-03-27
    soldstatus $64,000
16. 2026-03-11
    historical 683-char remark

    Show marketing remark (683 chars)

    Welcome to this functional 1-bedroom, 1-bathroom condo in the +55 Covered Bridge community in Lake Worth. Offering 642 square feet of living space, this unit features a well designed layout as well as a screened-in patio for year-round enjoyment of the amazing Florida weather. The community offers great amenities such as 2 nice heated swimming pools, clubhouse, tennis courts, shuffleboard, walking paths and more. Enjoy the ease of nearby access to major highways, shopping centers, dining options, recreational parks, and the beaches. Come see this great opportunity with lots of potential. Call and schedule your showing today! Images in this listing have been virtually staged.

17. 2026-03-11
    status Pending 683-char remark

    Show marketing remark (683 chars)

    Welcome to this functional 1-bedroom, 1-bathroom condo in the +55 Covered Bridge community in Lake Worth. Offering 642 square feet of living space, this unit features a well designed layout as well as a screened-in patio for year-round enjoyment of the amazing Florida weather. The community offers great amenities such as 2 nice heated swimming pools, clubhouse, tennis courts, shuffleboard, walking paths and more. Enjoy the ease of nearby access to major highways, shopping centers, dining options, recreational parks, and the beaches. Come see this great opportunity with lots of potential. Call and schedule your showing today! Images in this listing have been virtually staged.

18. 2026-03-09
    soldstatus $64,000 Closed 683-char remark

    Show marketing remark (683 chars)

    Welcome to this functional 1-bedroom, 1-bathroom condo in the +55 Covered Bridge community in Lake Worth. Offering 642 square feet of living space, this unit features a well designed layout as well as a screened-in patio for year-round enjoyment of the amazing Florida weather. The community offers great amenities such as 2 nice heated swimming pools, clubhouse, tennis courts, shuffleboard, walking paths and more. Enjoy the ease of nearby access to major highways, shopping centers, dining options, recreational parks, and the beaches. Come see this great opportunity with lots of potential. Call and schedule your showing today! Images in this listing have been virtually staged.

19. 2026-02-17
    status Pending 683-char remark

    Show marketing remark (683 chars)

    Welcome to this functional 1-bedroom, 1-bathroom condo in the +55 Covered Bridge community in Lake Worth. Offering 642 square feet of living space, this unit features a well designed layout as well as a screened-in patio for year-round enjoyment of the amazing Florida weather. The community offers great amenities such as 2 nice heated swimming pools, clubhouse, tennis courts, shuffleboard, walking paths and more. Enjoy the ease of nearby access to major highways, shopping centers, dining options, recreational parks, and the beaches. Come see this great opportunity with lots of potential. Call and schedule your showing today! Images in this listing have been virtually staged.

20. 2026-01-28
    listed $74,900 Active 683-char remark

    Show marketing remark (683 chars)

    Welcome to this functional 1-bedroom, 1-bathroom condo in the +55 Covered Bridge community in Lake Worth. Offering 642 square feet of living space, this unit features a well designed layout as well as a screened-in patio for year-round enjoyment of the amazing Florida weather. The community offers great amenities such as 2 nice heated swimming pools, clubhouse, tennis courts, shuffleboard, walking paths and more. Enjoy the ease of nearby access to major highways, shopping centers, dining options, recreational parks, and the beaches. Come see this great opportunity with lots of potential. Call and schedule your showing today! Images in this listing have been virtually staged.

21. 2004-10-08
    soldstatus $50,000

ⓘ 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: $2,088 · $174/mo
• Projected year-2 tax: $2,088 · $174/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 · 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,652
• − Mortgage interest: −$7,444
• − Property taxes: −$2,088
• − Insurance: −$664
• − Repairs & maintenance: −$1,892
• − Management: −$1,892
• − HOA: −$4,644
• − Depreciation: −$3,866
• Taxable income: $1,161
• Est. tax owed @ 24.0%: −$279
• After-tax cash flow: $2,647/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 — Greenacres

• Score: 69/100
• State rank: #490
• US rank: #9008

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• City population: 65,478
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 58,411
• Household income: $95,739
• Rent vs Own: 13.6% rent · 86.4% own
• Severe rent burden: 960.0

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: White 59% Hispanic / Latino 22% Two or more races 13% Black 10% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 4% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Hispanic 3%
• Foreign-born: 24% · Canada, Jamaica, Vietnam
• Languages at home: 71% English-only · Spanish 17% French/Haitian/Cajun 5% 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: ▼ -288.94%
• Current HPI: 343.7738
• Rent YoY: ▼ -0.40%
• 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

+179.8% since first listed

8 events — show timeline

• 2026-05-04 Listed $139,900 Beaches MLS
• 2026-03-27 Sold (Public Records) $64,000 Public Records
• 2026-03-11 Listing Removed — Beaches MLS
• 2026-03-11 Pending — Beaches MLS
• 2026-03-09 Sold (MLS) $64,000 Beaches MLS
• 2026-02-17 Pending — Beaches MLS
• 2026-01-28 Listed $74,900 Beaches MLS
• 2004-10-08 Sold (Public Records) $50,000 Public Records

Property tax history

+18.2%/yr

Latest (2025): $2,088 · +631.2% YoY. Source: county tax records.