728 Ridge Rd #31 · Lantana, FL 33462

$119,500

2 bd · 1.0 ba · 872 sqft · Condo public records · 82 Days on market

Built 1966 $500/mo HOA · 22% 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 +29.2/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss this 2 Bedroom, 2 Bathroom, Single Story Condo, with a 1 Car Garage. New Luxury Vinyl Flooring throughout, New Doors, Ceiling Fans and Blinds throughout. Newer Electrical Panel, Washer/Dryer, Garage Door Opener. Brand New Water Heater 2026, AC 2016, Electric roll down Shutters on the front and Accordion Shutters on the back. Close to shopping, Restaurants and the Beach.

Key facts

• New doors
• Washer dryer
• Ceiling fans

Tags

• LUXURY VINYL FLOORING
• NEW DOORS
• CEILING FANS
• BLINDS
• NEWER ELECTRICAL PANEL
• WASHER DRYER

Property features AI

Finance

• HOA & community: Monthly association fee of $500 covering insurance, ground maintenance and common areas; Association named Holly House; Senior community; Pets allowed (restrictions: breed, number and size limits; possible additional pet restrictions)

Exterior

• Parking: Attached garage (1 space) with garage door opener; One additional covered parking space; One open parking space; Driveway; concrete surfaces
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable available
• Home design: Condominium; One-story; Faces south; Resale unit; Building named Holly House
• Construction: CBS construction; Other-type roof; Built as part of a multi-unit building (Holly House)
• Exterior features: Covered patio and open porch; Patio and porch areas

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Two bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: No notable interior built-ins or extra features listed; Shutters on windows
• Laundry & utility: Dedicated laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $112k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#276 in FL, #4,432 nationally) — a middle-class / working-renter tenant base. Strengths: crime 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: Barton Elementary School (math 25% / reading 20%, grade F, #2,073 of 2,144 statewide, top 97%, 1,064 students, 80% FRL); Lake Worth High School (math 16% / reading 27%, grade F, #546 of 667 statewide, top 82%, 2,683 students, 71% FRL) — zoned schools average 76% FRL vs 52% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 50% district-wide (-28 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 rising fast (+4.1%/yr); 383 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $826 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.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $33k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y 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 $49k; list at $120k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% 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 $112,330 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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. 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: 1.86% ✓
• Cap rate: 10.46%
• Cash-on-cash: 14.89%
• DSCR: 1.66
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.09% rent growth · sell at horizon

5-year hold

• IRR: 7.4%
• Equity multiple: 1.30×
• Total profit: $9,895
• Equity at exit: $17,818

10-year hold

• IRR: 18.2%
• Equity multiple: 2.63×
• Total profit: $54,439
• Equity at exit: $10,332

Cash invested: $33,460 (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 33462

• Rents YoY: 4.1%
• Active inventory: 383
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,225 high
• Mortgage (P&I): −$627
• Tax from tax record: −$166 /mo · $1,991/yr
• Insurance: −$50
• HOA: −$500
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $415

Break-even live

Break-even rent $1,699

Max offer price $119,500

Occupancy floor 76%

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: $29,875
• Closing costs: $3,585
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
835 Andrew Redding Rd #1 Lantana, FL	2.0	2.0	875	$2,800	$3.20	24d	1	0.17mi
2640 South Dr Unit 301 Lake Worth Beach, FL	2.0	1.0	894	$1,500	$1.68	18d	1	0.24mi
2640 South Dr Unit 301 Lake Worth Beach, FL	2.0	1.0	894	$1,500	$1.68	15d	1	0.24mi
2566 South Dr Unit 306 Lake Worth Beach, FL	1.0	1.0	744	$1,850	$2.49	7d	1	0.24mi
1001 Water Tower Way Hypoluxo, FL	1.0–3.0	1.0–2.0	981	$2,380	$2.43	2d	25	0.30mi
1001 Water Tower Way Hypoluxo, FL	1.0–3.0	1.0–2.0	981	$2,336	$2.38	24d	25	0.30mi
900 Water Tower Way Lantana, FL	1.0–2.0	1.0–2.0	1176	$3,571	$3.04	3d	20	0.33mi
1420 Barton Rd Unit 1420w Lake Worth Beach, FL	2.0	1.0	990	$2,000	$2.02	10d	1	0.54mi
703 Dawn Pl Unit C Lantana, FL	2.0	2.0	935	$2,500	$2.67	7d	1	0.60mi
614 N 7th St Lantana, FL	2.0	1.0	960	$2,400	$2.50	24d	1	0.62mi
622 Minnesota St Lantana, FL	2.0	2.0	1006	$3,000	$2.98	24d	1	0.66mi
605 S 12th St Lantana, FL	2.0	1.0	700	$1,950	$2.79	3d	1	0.73mi
900 W Bloxham St Lantana, FL	3.0	1.0	925	$2,141	$2.31	22d	1	0.80mi
422 S Arnold Ave Lantana, FL	2.0	1.0	948	$2,400	$2.53	20d	1	0.80mi
329 Melody Ln Unit 331 Lantana, FL	2.0	2.0	842	$1,849	$2.20	7d	1	0.83mi
410 W Palm St Unit B28 Lantana, FL	2.0	1.5	894	$1,800	$2.01	24d	1	0.84mi
609 S Arnold Ave Lantana, FL	2.0	2.0	1076	$2,900	$2.70	16d	1	0.87mi
525 S Broadway Unit M Lantana, FL	1.0	1.0	600	$1,575	$2.62	24d	1	0.90mi
1029 S D St Apt 2 Lake Worth Beach, FL	1.0	1.0	560	$1,675	$2.99	24d	1	0.92mi
1029 S D St Lake Worth Beach, FL	1.0	1.0	550	$1,715	$3.12	24d	1	0.92mi
714 S Arnold Ave Unit B Lantana, FL	2.0	1.0	858	$2,200	$2.56	24d	1	0.95mi
802 W Windward Way #304 Lantana, FL	1.0	1.0	839	$2,700	$3.22	24d	1	0.95mi
612 W Drew St Lantana, FL	1.0	1.0	800	$1,800	$2.25	11d	1	0.96mi
612 W Drew St Unit E Lantana, FL	1.0	1.0	550	$1,900	$3.45	3d	1	0.96mi
887 W Perry St Lantana, FL	3.0	1.0	1055	$3,000	$2.84	24d	1	0.96mi
349 Wickline Blvd Lantana, FL	2.0	1.0	832	$2,300	$2.76	2d	1	0.97mi
1609 S Federal Hwy Apt 102 Lake Worth Beach, FL	1.0	1.0	672	$1,459	$2.17	24d	1	0.97mi
351 Wickline Blvd Lantana, FL	2.0	1.0	832	$2,300	$2.76	2d	1	0.97mi
119 Sunrise Ave Unit A Lantana, FL	1.0	1.0	555	$2,400	$4.32	20d	1	0.99mi
115 E Lantana Rd Lantana, FL	1.0	1.0	600	$1,600	$2.67	10d	1	0.99mi
720 N Dixie Hwy #202 Lantana, FL	2.0	2.5	1125	$2,000	$1.78	4d	1	1.00mi
300 Waterway Dr S #308 Lantana, FL	2.0	1.5	806	$2,200	$2.73	24d	1	1.01mi
303 Waterway Dr S #303 Lantana, FL	2.0	1.5	900	$2,100	$2.33	24d	1	1.01mi
200 Croton Ave Lantana, FL	1.0–2.0	1.0	695	$1,850	$2.66	15d	2	1.01mi
315 N Lake Dr Unit 6 Lantana, FL	1.0	1.0	590	$1,495	$2.53	17d	1	1.04mi
911 S D St Lake Worth Beach, FL	2.0	2.0	1023	$2,300	$2.25	18d	1	1.04mi
531 W Perry St Lantana, FL	2.0	1.0	1000	$2,400	$2.40	18d	1	1.04mi
611 E Coast Ave Unit B Lantana, FL	2.0	2.0	1125	$2,100	$1.87	20d	1	1.04mi
611 E Coast Ave Unit 2 Lantana, FL	2.0	2.0	1125	$2,050	$1.82	5d	1	1.04mi
1101 S K St Unit 16 Lake Worth Beach, FL	1.0	1.0	600	$1,550	$2.58	24d	1	1.06mi

HOA detail condo

• Monthly dues: $500 · $6,000/yr
• Likely covers: waterelectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-18
   days on market $119,500 Active 82 DOM
2. 2026-06-17
   days on market $119,500 Active 81 DOM
3. 2026-06-16
   days on market $119,500 Active 80 DOM
4. 2026-06-15
   days on market $119,500 Active 79 DOM
5. 2026-06-13
   days on market $119,500 Active 77 DOM
6. 2026-06-09
   days on market $119,500 Active 73 DOM
7. 2026-06-08
   days on market $119,500 Active 72 DOM
8. 2026-06-07
   days on market $119,500 Active 71 DOM
9. 2026-06-04
   days on market $119,500 Active 68 DOM
10. 2026-06-03
    days on market $119,500 Active 67 DOM
11. 2026-06-02
    days on market $119,500 Active 66 DOM
12. 2026-06-01
    days on market $119,500 Active 65 DOM
13. 2026-05-31
    days on market $119,500 Active 64 DOM
14. 2026-05-19
    status Active
15. 2026-04-27
    historical Active Under Contract
16. 2026-04-16
    price $119,500
17. 2026-03-28
    listed $124,900 Active
18. 2024-08-09
    historical $1,250
19. 2024-07-19
    listed $1,250
20. 2024-04-30
    historical $1,250
21. 2024-04-06
    listed $1,250
22. 2024-03-24
    historical $1,250
23. 2024-03-19
    listed $1,250
24. 2023-09-09
    status Pending
25. 2023-09-09
    historical
26. 2023-08-29
    listed $124,900 Active
27. 2022-10-04
    historical
28. 2022-07-25
    price $149,500
29. 2022-05-19
    listed $165,000 Active
30. 1997-12-11
    soldstatus $49,000
31. 1996-01-29
    soldstatus $48,000
32. 1995-01-13
    soldstatus $33,000

ⓘ 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: $1,991 · $166/mo
• Projected year-2 tax: $1,991 · $166/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 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: $26,697
• − Mortgage interest: −$6,694
• − Property taxes: −$1,991
• − Insurance: −$598
• − Repairs & maintenance: −$2,136
• − Management: −$2,136
• − HOA: −$6,000
• − Depreciation: −$3,476
• Taxable income: $3,667
• Est. tax owed @ 24.0%: −$880
• After-tax cash flow: $4,102/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 — Lantana

• Score: 74/100
• State rank: #276
• US rank: #4432

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lantana, FL
• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,371
• Household income: $73,997
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1852.0

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 0.68)
• Race & ethnicity: White 44% Black 26% Hispanic / Latino 26% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5% Cuban 3%
• Common ancestry: Hispanic 14% Romanian 2% Scotch-Irish 2%
• Foreign-born: 31% · Canada, Jamaica, Dominican Republic
• Languages at home: 60% English-only · Spanish 20% French/Haitian/Cajun 16% 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: ▼ -295.48%
• Current HPI: 361.5391
• Rent YoY: ▲ 4.09%
• 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

+262.1% since first listed

19 events — show timeline

• 2026-05-19 Relisted — Beaches MLS
• 2026-04-27 Contingent — Beaches MLS
• 2026-04-16 Price Changed $119,500 Beaches MLS
• 2026-03-28 Listed $124,900 Beaches MLS
• 2024-08-09 Rental Removed $1,250 GFLMLS
• 2024-07-19 Listed for Rent $1,250 GFLMLS
• 2024-04-30 Rental Removed $1,250 GFLMLS
• 2024-04-06 Listed for Rent $1,250 GFLMLS
• 2024-03-24 Rental Removed $1,250 GFLMLS
• 2024-03-19 Listed for Rent $1,250 GFLMLS
• 2023-09-09 Pending — Beaches MLS
• 2023-09-09 Listing Removed — Beaches MLS
• 2023-08-29 Listed $124,900 Beaches MLS
• 2022-10-04 Listing Removed — Beaches MLS
• 2022-07-25 Price Changed $149,500 Beaches MLS
• 2022-05-19 Listed $165,000 Beaches MLS
• 1997-12-11 Sold (Public Records) $49,000 Public Records
• 1996-01-29 Sold (Public Records) $48,000 Public Records
• 1995-01-13 Sold (Public Records) $33,000 Public Records

Property tax history

+16.6%/yr

Latest (2025): $1,991 · +5.1% YoY. Source: county tax records.