705 Lori Dr #206 · Palm Springs, FL 33461

$69,900

1 bd · 1.5 ba · 806 sqft · Condo public records · 280 Days on market

Built 1973 $605/mo HOA · 36% of rent ↓ 10% since listing

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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 +27.3/30.0
• 1% rule +10.0/10.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

DON'T MISS THIS! Desirable ''Bahama'' model with L shaped living room that lends itself well to extra sleeping space. Sliding doors lead to porch area with view. Condo may be sold furnished or unfurnished. Upgrades include a Nest camera thermostat, modern plumbing & light fixtures, Hunter Douglas ceiling fans, and Levolor blinds throughout. A/C is from 2022. JUST 3 YEARS OLD! Second floor location steps away from laundry room and elevator. Purchaser may be of any age but at least one occupant must be age 55. Maximum two occupants. Sorry no renting the first 2 years of ownership. Enjoy Lakeside Village with 2 clubhouses and 2 swimming pools. Fitness & walking trails nearby. Foreig

Key facts

• Light fixtures
• Ceiling fans
• Modern plumbing

Tags

• L SHAPED LIVING ROOM
• PORCH AREA WITH VIEW
• NEST CAMERA THERMOSTAT
• MODERN PLUMBING
• LIGHT FIXTURES
• CEILING FANS

Property features AI

Finance

• Other: Private maintained paved road; west of US-1
• Financial info: Monthly association fee listed
• HOA & community: Part of Lakeside Village association; Monthly HOA fee (amount provided); HOA covers cable TV, insurance, grounds maintenance, pest control, sewer, trash, water, elevator, and recreation facilities; Community amenities include clubhouse, elevator(s), fitness center, game room, laundry, management, picnic area, pool, shuffleboard court, workshop area, on-site manager, trash chute, business center, community room, internet included, and putting green; Is a senior community; Pets not allowed; 766 units in the community

Exterior

• Parking: Assigned parking and guest parking; 5 open parking spaces
• Security: Closed-circuit cameras; Owned security system
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; One level; Entry level 1; Faces north; Bahama model; 3 total stories in building
• Construction: CBS construction; Built-up roof
• Exterior features: Screened porch; Porch; Waterfront (no specific waterfront features)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom on the main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning (electric)
• Interior features: Walk-in closet(s); Blinds; Sliding windows; Furnished
• Laundry & utility: Laundry available in building

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $62k (12.0% 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: Clifford O Taylor/Kirklane Elementary (math 26% / reading 34%, grade F, #1,882 of 2,144 statewide, top 88%, 1,230 students, 80% FRL); John I. Leonard High School (math 17% / reading 35%, grade F, #494 of 667 statewide, top 75%, 3,549 students, 67% FRL) — zoned schools average 74% FRL vs 52% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 50% district-wide (-22 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 (-2.5%/yr); 274 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).
• This rent runs 33% of the median local income ($62k/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 $483 of loan paydown is wiped out by about $2k 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 280 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $70k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 280 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. 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: 2.43% ✓
• Cap rate: 9.77%
• Cash-on-cash: 12.42%
• DSCR: 1.55
• GRM: 3.4

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: -4.3%
• Equity multiple: 0.85×
• Total profit: $-2,968
• Equity at exit: $10,422

10-year hold

• IRR: -3.7%
• Equity multiple: 0.82×
• Total profit: $-3,455
• Equity at exit: $6,044

Cash invested: $19,572 (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 33461

• Rents YoY: -2.5%
• Active inventory: 274
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,698 high
• Mortgage (P&I): −$367
• Tax from tax record: −$138 /mo · $1,657/yr
• Insurance: −$29
• HOA: −$605
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $203

Break-even live

Break-even rent $1,441

Max offer price $69,900

Occupancy floor 83%

Sensitivity live

Price	-10% $242	-5% $222	+0% $203	+5% $183	+10% $163
Rent	-10% $69	-5% $136	+0% $203	+5% $270	+10% $337
Rate	-1.0pp $238	-0.5pp $220	base $203	+0.5pp $185	+1.0pp $166

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
701 Lori Dr #204 Palm Springs, FL	2.0	2.0	994	$1,700	$1.71	25d	1	0.02mi
504 Davis Rd #96 Palm Springs, FL	2.0	2.0	1080	$2,000	$1.85	25d	1	0.09mi
506 Davis Rd Unit 6 Palm Springs, FL	2.0	2.0	958	$1,700	$1.77	25d	1	0.09mi
502 Davis Rd Palm Springs, FL	2.0	1.0–2.0	878	$1,675	$1.91	5d	2	0.13mi
225 Bonnie Blvd Palm Springs, FL	1.0–2.0	1.5–2.0	944	$1,300	$1.38	25d	2	0.14mi
225 Bonnie Blvd #116 Palm Springs, FL	2.0	2.0	988	$1,850	$1.87	19d	1	0.14mi
500 Bonnie Blvd #165 Palm Springs, FL	1.0	1.5	782	$1,350	$1.73	25d	1	0.17mi
484 Springdale Cir Unit 48d Palm Springs, FL	2.0	2.0	1102	$2,100	$1.91	17d	1	0.19mi
300 Bonnie Blvd #144 Palm Springs, FL	1.0	1.0	702	$1,350	$1.92	25d	1	0.19mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	22d	1	0.19mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,650	$2.00	25d	3	0.20mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,550	$1.82	25d	2	0.26mi
247 Cypress Ln Unit 246-C12 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	5d	1	0.27mi
247 Cypress Ln Unit 246-C06 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	25d	1	0.27mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,055	$2.13	2d	14	0.32mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,450	$2.64	24d	1	0.50mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,375	$2.50	22d	1	0.50mi
2200 Springdale Blvd #214 Palm Springs, FL	1.0	1.5	756	$1,550	$2.05	3d	1	0.61mi
555 Kirk Rd Palm Springs, FL	1.0	1.0	625	$2,268	$3.63	8d	1	0.67mi
555 Kirk Rd Palm Springs, FL	2.0	2.0	875	$3,194	$3.65	22d	1	0.67mi
555 Kirk Rd Palm Springs, FL	2.0	2.0	875	$2,749	$3.14	13d	1	0.67mi
555 Kirk Rd Palm Springs, FL	1.0	1.0	670	$2,352	$3.51	14d	1	0.67mi
555 Purdy Ln Palm Springs, FL	1.0	1.0	650	$1,375	$2.12	5d	1	0.75mi
500 Village Green Cir W Palm Springs, FL	1.0–2.0	1.5	800	$1,350	$1.69	17d	2	0.77mi
500 Village Green Cir W Palm Springs, FL	1.0–2.0	1.0–1.5	739	$1,400	$1.89	25d	2	0.77mi
500 Village Green Cir W #107 Palm Springs, FL	2.0	1.5	836	$1,850	$2.21	22d	1	0.77mi
500 Village Green Cir W #214 Palm Springs, FL	1.0	1.5	764	$1,400	$1.83	2d	1	0.77mi
600 Village Green Ct #203 Palm Springs, FL	1.0	1.0	650	$1,300	$2.00	4d	1	0.77mi
700 Village Green Ct Palm Springs, FL	1.0–2.0	1.5	796	$1,350	$1.69	2d	3	0.79mi
400 Village Green Cir W #214 Palm Springs, FL	1.0	1.5	764	$1,400	$1.83	25d	1	0.81mi
2785 Reo Ln Unit 2 Lake Worth Beach, FL	2.0	1.0	884	$2,300	$2.60	25d	1	0.88mi
100 Rex Ave Palm Springs, FL	2.0	2.0	1000	$1,850	$1.85	25d	3	0.90mi
220 Henthorne Dr Palm Springs, FL	1.0–2.0	1.5–2.0	900	$1,700	$1.89	25d	4	0.92mi
2721 Garden Dr N #105 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	21d	1	0.96mi
4098 Linda Ln West Palm Beach, FL	2.0	1.0	860	$2,465	$2.87	25d	1	0.96mi
2856 Garden Dr S #112 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	25d	1	1.04mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	4d	1	1.04mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	2d	1	1.04mi
4403 Anna Ln Unit B Palm Springs, FL	1.0	1.0	740	$1,600	$2.16	8d	1	1.06mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	15d	1	1.08mi

HOA detail condo

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

Listing history 23 events

1. 2026-06-18
   days on market $69,900 Active 280 DOM
2. 2026-06-17
   days on market $69,900 Active 279 DOM
3. 2026-06-16
   days on market $69,900 Active 278 DOM
4. 2026-06-15
   days on market $69,900 Active 277 DOM
5. 2026-06-13
   days on market $69,900 Active 275 DOM
6. 2026-06-09
   days on market $69,900 Active 271 DOM
7. 2026-06-07
   days on market $69,900 Active 269 DOM
8. 2026-06-04
   days on market $69,900 Active 266 DOM
9. 2026-06-03
   days on market $69,900 Active 265 DOM
10. 2026-06-01
    days on market $69,900 Active 263 DOM
11. 2026-05-31
    days on market $69,900 Active 262 DOM
12. 2025-12-17
    price $69,900
13. 2025-09-10
    listed $74,900 Active
14. 2025-06-27
    historical
15. 2025-04-17
    price $79,999
16. 2025-03-21
    price $86,000
17. 2025-03-13
    price $89,000
18. 2025-02-26
    listed $95,000 Active
19. 2009-12-18
    soldstatus $36,100
20. 2008-10-31
    historical
21. 2008-04-11
    listed $59,900
22. 2008-04-10
    historical
23. 2007-10-16
    listed $78,000

ⓘ 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: $1,657 · $138/mo
• Projected year-2 tax: $1,657 · $138/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) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 1 d/yr ≥105°F today · 1 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: $20,376
• − Mortgage interest: −$3,915
• − Property taxes: −$1,657
• − Insurance: −$350
• − Repairs & maintenance: −$1,630
• − Management: −$1,630
• − HOA: −$7,260
• − Depreciation: −$2,033
• Taxable income: $1,900
• Est. tax owed @ 24.0%: −$456
• After-tax cash flow: $1,976/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

• Census place: Palm Springs, FL
• County: Palm Beach County · 1,438,312 people
• City population: 49,443
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 49,443
• Household income: $61,963
• Rent vs Own: 48.2% rent · 51.8% own
• Severe rent burden: 2663.0

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 59% Two or more races 26% White 20% Black 17% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 6% Cuban 16% Dominican 2%
• Common ancestry: Hispanic 9% Romanian 1% Lithuanian 1%
• Foreign-born: 52% · Canada, Jamaica
• Languages at home: 31% English-only · Spanish 54% French/Haitian/Cajun 10% 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: ▼ -269.03%
• Current HPI: 493.0041
• Rent YoY: ▼ -2.47%
• 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

-10.4% since first listed

12 events — show timeline

• 2025-12-17 Price Changed $69,900 Beaches MLS
• 2025-09-10 Listed $74,900 Beaches MLS
• 2025-06-27 Listing Removed — Beaches MLS
• 2025-04-17 Price Changed $79,999 Beaches MLS
• 2025-03-21 Price Changed $86,000 Beaches MLS
• 2025-03-13 Price Changed $89,000 Beaches MLS
• 2025-02-26 Listed $95,000 Beaches MLS
• 2009-12-18 Sold (Public Records) $36,100 Public Records
• 2008-10-31 Listing Removed — Beaches MLS
• 2008-04-11 Listed $59,900 Beaches MLS
• 2008-04-10 Listing Removed — Beaches MLS
• 2007-10-16 Listed $78,000 Beaches MLS

Property tax history

+4.4%/yr

Latest (2025): $1,657 · +2.2% YoY. Source: county tax records.