139 Sparrow Unit 4b · Royal Palm Beach, FL 33411

$224,999

2 bd · 1.5 ba · 1,000 sqft · Condo public records · 55 Days on market

Built 1979 $325/mo HOA · 15% 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).

• Appreciation +10.0/10.0
• Cash flow +8.7/30.0
• ARV discount +7.5/15.0
• 1% rule +4.7/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0

Listing remarks MLS

Gorgeous townhouse, recently updated with modern touches and fresh painting, 2018 roof. Located within a very desirable area in Royal Palm Beach, TOP RATED SCHOOLS, NO LEASE RESTRICTIONS. Hoa includes water, pool service, assessment fee and much more. Fall in love with this home today. It wont last. ..

Key facts

• Spa shower
• Updated kitchen
• Granite countertops

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• RENOVATED MASTER BATHROOM
• SPA SHOWER

Property features AI

Finance

• Financial info: Pets allowed (restrictions possible)
• HOA & community: Monthly association fee (includes pool service); Association amenities: parking, pool

Exterior

• Parking: Assigned parking (1 space)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Other utilities
• Home design: Condominium; Two stories; North-facing; Resale condition
• Construction: Stucco and CBS construction; Shingle roof; Built as part of a two-story building
• Exterior features: Covered patio; Patio; Glass-enclosed patio; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: No main-level bedrooms
• Flooring: Laminate; Tile; Wood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Walk-in closet(s); Unfurnished
• Laundry & utility: Laundry closet in hall, inside unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $-615 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $116k (48.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $217k (3.5% below list).
• Recommended offer: $116k (48.3% 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 $24k of equity ($2k loan paydown + $22k 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.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 24y 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: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $116,319 (48.3% 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. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 48% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.97% ✗
• Cap rate: 5.29%
• Cash-on-cash: -3.59%
• DSCR: 0.84
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 15.4%
• Equity multiple: 2.26×
• Total profit: $79,267
• Equity at exit: $202,697

10-year hold

• IRR: 14.5%
• Equity multiple: 5.07×
• Total profit: $256,717
• Equity at exit: $437,124

Cash invested: $63,000 (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: 8.6×

Monthly cashflow live

• Estimated rent: $2,172 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$306 /mo · $3,670/yr
• Insurance: −$94
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$325
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $-615

Break-even live

Break-even rent $2,951

Max offer price $116,319

Occupancy floor —

Sensitivity live

Price	-10% $-488	-5% $-552	+0% $-615	+5% $-679	+10% $-743
Rent	-10% $-787	-5% $-701	+0% $-615	+5% $-529	+10% $-444
Rate	-1.0pp $-502	-0.5pp $-558	base $-615	+0.5pp $-674	+1.0pp $-733

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
139 Sparrow Dr Royal Palm Beach, FL	2.0–3.0	1.5–2.5	1100	$1,850	$1.68	15d	3	0.01mi
120 Sparrow Dr #205 Royal Palm Beach, FL	2.0	2.0	793	$2,200	$2.77	25d	1	0.18mi
120 Sparrow Dr Royal Palm Beach, FL	2.0	2.0–2.5	793	$2,200	$2.77	22d	2	0.18mi
73 Macadamia Ct Royal Palm Beach, FL	2.0	2.0	1112	$2,000	$1.80	12d	1	0.33mi
182 Sparrow Dr Unit A Royal Palm Beach, FL	3.0	2.0	1485	$3,000	$2.02	25d	1	0.37mi
1601 Lakeview Dr W Unit 1601 Royal Palm Beach, FL	3.0	2.5	1296	$2,375	$1.83	22d	1	0.39mi
110 Weybridge Cir Unit A Royal Palm Beach, FL	2.0	2.5	1470	$2,350	$1.60	22d	1	0.40mi
1407 Lakeview Dr E Royal Palm Beach, FL	2.0	2.0	1165	$2,300	$1.97	8d	1	0.44mi
7 Greenway Vlg N #107 Royal Palm Beach, FL	1.0	1.5	780	$1,650	$2.12	5d	1	0.49mi
7 Greenway Vlg N Royal Palm Beach, FL	1.0–2.0	1.5–2.0	930	$1,700	$1.83	17d	2	0.49mi
2 Greenway Vlg N #210 Royal Palm Beach, FL	2.0	2.0	1080	$2,000	$1.85	25d	1	0.50mi
132 Weybridge Cir Royal Palm Beach, FL	2.0	2.5	1470	$3,000	$2.04	25d	1	0.52mi
202 Sparrow Dr #1 Royal Palm Beach, FL	3.0	2.0	1020	$2,400	$2.35	25d	1	0.53mi
4 Greenway Vlg N #203 Royal Palm Beach, FL	2.0	2.0	1080	$2,000	$1.85	25d	1	0.54mi
210 Sparrow Dr #4 Royal Palm Beach, FL	2.0	2.0	930	$1,900	$2.04	21d	1	0.57mi
263 Deerfield Ct Royal Palm Beach, FL	2.0	2.0	1120	$1,800	$1.61	25d	1	0.64mi
1803 Palm Beach Trace Dr Royal Palm Beach, FL	2.0	2.0	1201	$2,000	$1.67	19d	1	0.64mi
12007 Poinciana Blvd #205 Royal Palm Beach, FL	2.0	2.0	1088	$1,590	$1.46	15d	1	0.65mi
1605 Palm Beach Trace Dr Royal Palm Beach, FL	2.0	2.0	1201	$2,100	$1.75	13d	1	0.66mi
905 Palm Beach Trace Dr Royal Palm Beach, FL	1.0	2.0	1201	$1,700	$1.42	25d	1	0.67mi
180 Heatherwood Dr Royal Palm Beach, FL	3.0	2.0	1462	$2,710	$1.85	6d	1	0.68mi
12002 Poinciana Blvd #204 Royal Palm Beach, FL	2.0	2.0	1048	$1,750	$1.67	25d	1	0.68mi
145 Prestige Dr Royal Palm Beach, FL	3.0	2.0	1464	$2,900	$1.98	17d	1	0.69mi
4 W Greenway Dr Unit 201 Royal Palm Beach, FL	1.0	1.5	780	$1,450	$1.86	25d	1	0.80mi
43 Essex Ct Unit A Royal Palm Beach, FL	2.0	2.5	1398	$2,500	$1.79	25d	1	0.80mi
118 Bobwhite Rd Royal Palm Beach, FL	3.0	2.0	1444	$3,200	$2.22	18d	1	0.83mi
10863 Dalmany Way Royal Palm Beach, FL	3.0	2.0	1232	$3,500	$2.84	25d	1	0.84mi
36 Danbury Ct Unit B Royal Palm Beach, FL	2.0	2.5	1398	$2,300	$1.65	11d	1	0.85mi
1049 Grandview Cir Royal Palm Beach, FL	3.0	2.0	792	$3,100	$3.91	18d	1	0.90mi
830 Royal Palm Beach Blvd Royal Palm Beach, FL	3.0	2.0	1369	$2,686	$1.96	0d	1	0.99mi
201 Seminole Lakes Dr Royal Palm Beach, FL	1.0	1.0	800	$1,400	$1.75	25d	1	1.01mi
216 Cordoba Cir Royal Palm Beach, FL	3.0	2.0	1461	$3,440	$2.35	0d	1	1.04mi
11823 Dahlia Dr Royal Palm Beach, FL	3.0	2.0	1385	$2,331	$1.68	0d	1	1.19mi
151 Cordoba Cir Royal Palm Beach, FL	3.0	2.0	1421	$3,300	$2.32	25d	1	1.25mi
81 Westecunk Dr Royal Palm Beach, FL	2.0	2.0	1347	$2,550	$1.89	18d	1	1.27mi
280 Crestwood Cir #204 Royal Palm Beach, FL	2.0	2.0	1024	$2,150	$2.10	15d	1	1.36mi
10336 Fox Trail Rd S #1305 West Palm Beach, FL	2.0	2.0	1048	$2,100	$2.00	25d	1	1.38mi
10324 Fox Trail Rd S Unit 324 Royal Palm Beach, FL	2.0	2.0	1048	$1,900	$1.81	25d	1	1.38mi
10354 Fox Trail Rd S #1501 West Palm Beach, FL	2.0	2.0	1048	$2,000	$1.91	17d	1	1.38mi
10360 Fox Trail Rd S #1602 West Palm Beach, FL	2.0	2.0	1048	$1,920	$1.83	21d	1	1.39mi

HOA detail condo

• Monthly dues: $325 · $3,900/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 38 events

1. 2026-06-18
   days on market $224,999 Active 55 DOM
2. 2026-06-17
   days on market $224,999 Active 54 DOM
3. 2026-06-16
   days on market $224,999 Active 53 DOM
4. 2026-06-15
   days on market $224,999 Active 52 DOM
5. 2026-06-13
   days on market $224,999 Active 50 DOM
6. 2026-06-09
   days on market $224,999 Active 46 DOM
7. 2026-06-08
   days on market $224,999 Active 45 DOM
8. 2026-06-07
   pricedays on market $224,999 Active 44 DOM
9. 2026-06-04
   days on market $229,999 Active 41 DOM
10. 2026-06-03
    days on market $229,999 Active 40 DOM
11. 2026-06-02
    days on market $229,999 Active 39 DOM
12. 2026-06-01
    days on market $229,999 Active 38 DOM
13. 2026-05-31
    days on market $229,999 Active 37 DOM
14. 2026-04-23
    listed $229,999 Active
15. 2026-03-30
    historical
16. 2025-04-23
    listed $235,000 Active
17. 2022-05-03
    soldstatus $230,400
18. 2022-04-22
    soldstatus $230,400 Closed 303-char remark

    Show marketing remark (303 chars)

    Gorgeous townhouse, recently updated with modern touches and fresh painting, 2018 roof. Located within a very desirable area in Royal Palm Beach, TOP RATED SCHOOLS, NO LEASE RESTRICTIONS. Hoa includes water, pool service, assessment fee and much more. Fall in love with this home today. It wont last. ..

19. 2022-04-18
    status Pending 303-char remark

    Show marketing remark (303 chars)

    Gorgeous townhouse, recently updated with modern touches and fresh painting, 2018 roof. Located within a very desirable area in Royal Palm Beach, TOP RATED SCHOOLS, NO LEASE RESTRICTIONS. Hoa includes water, pool service, assessment fee and much more. Fall in love with this home today. It wont last. ..

20. 2022-03-19
    historical Active Under Contract 303-char remark

    Show marketing remark (303 chars)

    Gorgeous townhouse, recently updated with modern touches and fresh painting, 2018 roof. Located within a very desirable area in Royal Palm Beach, TOP RATED SCHOOLS, NO LEASE RESTRICTIONS. Hoa includes water, pool service, assessment fee and much more. Fall in love with this home today. It wont last. ..

21. 2022-03-14
    listed $229,900 Active 303-char remark

    Show marketing remark (303 chars)

    Gorgeous townhouse, recently updated with modern touches and fresh painting, 2018 roof. Located within a very desirable area in Royal Palm Beach, TOP RATED SCHOOLS, NO LEASE RESTRICTIONS. Hoa includes water, pool service, assessment fee and much more. Fall in love with this home today. It wont last. ..

22. 2022-02-16
    soldstatus $180,000 Closed
23. 2022-01-05
    status Pending
24. 2022-01-04
    listed $174,900 Active
25. 2013-09-22
    historical
26. 2012-11-04
    historical
27. 2012-02-01
    listed $39,900
28. 2009-08-26
    historical
29. 2009-02-26
    listed $75,000
30. 2008-04-18
    historical
31. 2007-10-18
    listed $159,900
32. 2005-09-12
    listed $195,000
33. 2003-05-05
    soldstatus $80,000
34. 2003-03-19
    soldstatus $80,000
35. 2003-01-20
    historical
36. 2002-12-10
    listed $79,900
37. 1994-02-03
    soldstatus $30,300
38. 1987-06-01
    soldstatus $38,000

ⓘ 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: $3,670 · $306/mo
• Projected year-2 tax: $3,670 · $306/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 AE · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 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: $26,063
• − Mortgage interest: −$12,603
• − Property taxes: −$3,670
• − Insurance: −$6,243
• − Repairs & maintenance: −$2,085
• − Management: −$2,085
• − HOA: −$3,900
• − Depreciation: −$6,545
• Taxable loss: −$11,069
• Est. tax savings @ 24.0%: +$2,657
• After-tax cash flow: $-4,726/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

+505.3% since first listed

25 events — show timeline

• 2026-04-23 Listed $229,999 Beaches MLS
• 2026-03-30 Listing Removed — Beaches MLS
• 2025-04-23 Listed $235,000 Beaches MLS
• 2022-05-03 Sold (Public Records) $230,400 Public Records
• 2022-04-22 Sold (MLS) $230,400 Beaches MLS
• 2022-04-18 Pending — Beaches MLS
• 2022-03-19 Contingent — Beaches MLS
• 2022-03-14 Listed $229,900 Beaches MLS
• 2022-02-16 Sold (MLS) $180,000 Beaches MLS
• 2022-01-05 Pending — Beaches MLS
• 2022-01-04 Listed $174,900 Beaches MLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2012-11-04 Listing Removed — Beaches MLS
• 2012-02-01 Listed $39,900 Beaches MLS
• 2009-08-26 Listing Removed — Beaches MLS
• 2009-02-26 Listed $75,000 Beaches MLS
• 2008-04-18 Listing Removed — Beaches MLS
• 2007-10-18 Listed $159,900 Beaches MLS
• 2005-09-12 Listed $195,000 Beaches MLS
• 2003-05-05 Sold (Public Records) $80,000 Public Records
• 2003-03-19 Sold (MLS) $80,000 Beaches MLS
• 2003-01-20 Listing Removed — Beaches MLS
• 2002-12-10 Listed $79,900 Beaches MLS
• 1994-02-03 Sold (Public Records) $30,300 Public Records
• 1987-06-01 Sold (Public Records) $38,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $3,670 · +0.2% YoY. Source: county tax records.