2040 Greenview Shores Blvd #223 · Wellington, FL 33414

$299,000

3 bd · 2.0 ba · 1,200 sqft · Condo public records · 201 Days on market

Built 1999 $475/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).

• Cash flow +10.2/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

BEST VIEWS IN ARISSA PLACE! 5 MINUTE DRIVE TO THE PB INTERNATIONAL EQUESTRIAN CENTER! 7 MINUTES TO INTERNATIONAL POLO CLUB OF PB! 1 CAR GARAGE! This 3 bedroom, 2 full bath unit with balcony overlooking the BEST views of Arissa Place has been fully updated and outfitted with brand new high end furnishings! Fully stocked and ready for seasonal and off seasonal rental or just bring your toothbrush and come enjoy the Wellington season!

Key facts

• Fully updated
• $475 HOA
• Garage

Tags

• FULLY UPDATED
• BALCONY OVERLOOKING VIEWS

Property features AI

Finance

• Other: Pets allowed (restrictions possible)
• HOA & community: HOA with monthly fee; HOA amenities include pool and picnic area; Monthly association fee of 475

Exterior

• Parking: Attached 1-car garage with garage door opener; Guest parking; 1 covered parking space
• Security: Smoke detectors; Security lights; Owned security system; Gated community (no guard)
• Utilities: Cable available
• Home design: Condominium; 3 stories; Resale property; Faces west
• Construction: CBS construction
• Exterior features: On golf course; Waterfront

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; Custom mirrors; Furnished
• Laundry & utility: Indoor laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $299k.

Deal economics

• At list price, monthly cash flow is $-169 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (10.0% below list).
• Meets the 1% rule at list price ($3k rent vs $299k).
• Recommended offer: $263k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.6% vs local median 3.4% in Wellington — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#294 in FL, #4,986 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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: New Horizons Elementary School (math 55% / reading 64%, grade B-, #690 of 2,144 statewide, top 34%, 727 students, 45% FRL); Polo Park Middle School (math 65% / reading 68%, grade A-, #84 of 571 statewide, top 16%, 1,156 students, 33% FRL); Wellington High School (math 57% / reading 65%, grade C+, #102 of 667 statewide, top 15%, 2,688 students, 29% FRL) — zoned schools average 36% FRL vs 52% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 62% at this address vs 50% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Palm Beach average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.3%/yr); 616 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 ($112k/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 $2k of loan paydown is wiped out by about $9k 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 201 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y ago; this cycle's ask is 9545% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $203k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $263,120 (12.0% 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. It's been on market 201 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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 A-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?
8. 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?
9. 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.
10. 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.
11. 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: 1.03% ✓
• Cap rate: 5.62%
• Cash-on-cash: -2.42%
• DSCR: 0.89
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: -21.1%
• Equity multiple: 0.27×
• Total profit: $-60,937
• Equity at exit: $44,582

10-year hold

• IRR: -16.4%
• Equity multiple: 0.12×
• Total profit: $-73,959
• Equity at exit: $25,852

Cash invested: $83,720 (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 33414

• Home prices YoY: -30.2%
• Rents YoY: 2.3%
• Active inventory: 616
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $3,081 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$435 /mo · $5,217/yr
• Insurance: −$125
• HOA: −$475
• Vacancy / Maint / Mgmt: −$647
• Net cashflow: $-169

Break-even live

Break-even rent $3,294

Max offer price $269,217

Occupancy floor —

Sensitivity live

Price	-10% $1	-5% $-84	+0% $-169	+5% $-253	+10% $-338
Rent	-10% $-412	-5% $-290	+0% $-169	+5% $-47	+10% $75
Rate	-1.0pp $-18	-0.5pp $-93	base $-169	+0.5pp $-246	+1.0pp $-325

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2040 Greenview Shores Blvd Wellington, FL	1.0–2.0	1.0–2.0	929	$4,000	$4.31	24d	2	0.02mi
2080 Greenview Shores Blvd Wellington, FL	3.0	2.0	1156	$2,675	$2.31	5d	3	0.05mi
2060 Greenview Shores Blvd Wellington, FL	1.0–3.0	1.0–2.0	972	$3,350	$3.44	11d	4	0.05mi
2100 Greenview Shores Blvd Wellington, FL	3.0	2.0	1200	$2,200	$1.83	13d	2	0.05mi
2100 Greenview Shores Blvd #519 Wellington, FL	3.0	2.0	1200	$2,500	$2.08	24d	1	0.05mi
2474 Bedford Mews Dr Wellington, FL	2.0	2.0	1231	$7,000	$5.69	15d	1	0.31mi
2514 Bedford Mews Dr Wellington, FL	2.0	2.5	1231	$3,000	$2.44	24d	1	0.34mi
2555 Bedford Mews Dr Wellington, FL	3.0	2.0	1406	$3,700	$2.63	8d	1	0.34mi
13675 Yarmouth Ct Wellington, FL	3.0	2.0	1427	$2,850	$2.00	24d	1	0.36mi
13671 Yarmouth Ct Wellington, FL	3.0	2.0	1450	$2,850	$1.97	11d	1	0.37mi
13671 Yarmouth Ct Wellington, FL	3.0	2.0	1450	$2,750	$1.90	24d	1	0.37mi
13647 Yarmouth Ct Wellington, FL	4.0	2.0	1460	$2,500	$1.71	24d	1	0.39mi
13769 Yarmouth Dr Wellington, FL	3.0	2.0	1429	$2,600	$1.82	17d	1	0.40mi
13769 Yarmouth Dr Wellington, FL	3.0	2.0	1429	$2,600	$1.82	15d	1	0.40mi
13644 Yarmouth Ct Unit A Wellington, FL	2.0	2.0	1001	$2,400	$2.40	24d	1	0.41mi
13491 Fountain View Blvd Wellington, FL	3.0	2.5	1481	$3,000	$2.03	24d	1	0.43mi
13796 Yarmouth Dr Wellington, FL	3.0	2.0	1384	$2,500	$1.81	24d	1	0.45mi
13501 Fountain View Blvd Wellington, FL	3.0	2.0	1481	$3,500	$2.36	24d	1	0.46mi
2606 Bedford Mews Dr Unit (off-season Furnished Rental) Wellington, FL	3.0	2.0	1219	$2,350	$1.93	24d	1	0.47mi
13324 Bedford Mews Ct Wellington, FL	2.0	2.0	1489	$6,000	$4.03	19d	1	0.48mi
1654 Hawthorne Pl Wellington, FL	3.0	2.0	1250	$2,200	$1.76	3d	1	0.52mi
1646 Hawthorne Pl Wellington, FL	3.0	2.0	1133	$2,400	$2.12	17d	1	0.54mi
13526 Fountain View Blvd Wellington, FL	3.0	2.0	1436	$3,600	$2.51	24d	1	0.55mi
13792 Creston Pl Wellington, FL	2.0	2.5	1219	$3,000	$2.46	8d	1	0.57mi
13868 York Ct Unit C Wellington, FL	2.0	2.0	1031	$2,250	$2.18	24d	1	0.58mi
1543 Westchester Ave Wellington, FL	2.0	2.5	1219	$4,500	$3.69	21d	1	0.59mi
1598 Hawthorne Pl Wellington, FL	3.0	2.0	1365	$3,600	$2.64	24d	1	0.60mi
1168 Amaryllis Ct Wellington, FL	2.0	2.0	1087	$1,800	$1.66	24d	1	0.72mi
1511 Hawthorne Pl Wellington, FL	2.0	2.0	1089	$2,000	$1.84	24d	1	0.74mi
1440 Hawthorne Pl Wellington, FL	2.0	2.0	1100	$2,595	$2.36	24d	1	0.74mi
1509 Hawthorne Pl Wellington, FL	2.0	2.0	1089	$2,300	$2.11	24d	1	0.74mi
14032 Wellington Trce Wellington, FL	3.0	2.5	1300	$2,500	$1.92	24d	1	0.80mi
13009 Meadowbreeze Dr Wellington, FL	2.0	2.0	1436	$3,775	$2.63	24d	1	0.88mi
1317 Periwinkle Pl Wellington, FL	3.0	2.0	1275	$5,500	$4.31	24d	1	0.88mi
1910 Capeside Cir Wellington, FL	3.0	2.0	1208	$2,530	$2.09	16d	1	0.88mi
1368 Periwinkle Pl Wellington, FL	2.0	2.0	1037	$2,800	$2.70	24d	1	0.90mi
1215 Hyacinth Pl Unit 1215 Wellington, FL	3.0	2.0	1302	$3,000	$2.30	24d	1	0.91mi
13785 Sunflower Ct Unit A Wellington, FL	3.0	2.0	1440	$2,600	$1.81	8d	1	0.91mi
12725 Shoreline Dr Unit 6C Wellington, FL	2.0	2.0	1097	$3,200	$2.92	24d	1	0.91mi
1289 Periwinkle Pl Wellington, FL	2.0	2.0	1054	$2,500	$2.37	24d	1	0.93mi

HOA detail condo

• Monthly dues: $475 · $5,700/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $299,000 Active 201 DOM
2. 2026-06-17
   days on market $299,000 Active 200 DOM
3. 2026-06-16
   days on market $299,000 Active 199 DOM
4. 2026-06-15
   days on market $299,000 Active 198 DOM
5. 2026-06-13
   days on market $299,000 Active 196 DOM
6. 2026-06-09
   days on market $299,000 Active 192 DOM
7. 2026-06-07
   days on market $299,000 Active 190 DOM
8. 2026-06-04
   days on market $299,000 Active 187 DOM
9. 2026-06-03
   days on market $299,000 Active 186 DOM
10. 2026-06-01
    days on market $299,000 Active 184 DOM
11. 2026-05-31
    days on market $299,000 Active 183 DOM
12. 2026-05-23
    status Active
13. 2026-03-31
    listed $3,100
14. 2026-03-31
    historical $4,300
15. 2026-03-30
    historical Active Under Contract
16. 2026-01-19
    price $299,000
17. 2026-01-08
    price $319,900
18. 2025-11-26
    listed $324,900 Active
19. 2025-10-02
    price $4,300
20. 2025-08-10
    listed $4,800
21. 2024-03-24
    historical $3,000
22. 2023-10-29
    listed $3,000
23. 2020-11-30
    soldstatus $203,100
24. 2020-11-19
    soldstatus $203,100 Closed
25. 2020-11-09
    status Pending
26. 2020-11-02
    listed $209,900 Active

ⓘ 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: $5,217 · $435/mo
• Projected year-2 tax: $5,217 · $435/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 ≥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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,969
• − Mortgage interest: −$16,749
• − Property taxes: −$5,217
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,957
• − Management: −$2,957
• − HOA: −$5,700
• − Depreciation: −$8,698
• Taxable loss: −$6,806
• Est. tax savings @ 24.0%: +$1,633
• After-tax cash flow: $-390/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 — Wellington

• Score: 73/100
• State rank: #294
• US rank: #4986

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wellington, FL
• County: Palm Beach County · 1,438,312 people
• City population: 60,184
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 60,184
• Household income: $112,241
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 1566.0

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 0.67)
• Race & ethnicity: White 47% Hispanic / Latino 29% Two or more races 20% Black 13% Asian 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Cuban 6% Dominican 1% Salvadoran 1%
• Common ancestry: Hispanic 4% Romanian 3% Lithuanian 2%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 67% English-only · Spanish 23% French/Haitian/Cajun 3% 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: ▼ -152.58%
• Current HPI: 352.9366
• Rent YoY: ▲ 2.31%
• 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

-98.5% since first listed

15 events — show timeline

• 2026-05-23 Relisted — Beaches MLS
• 2026-03-31 Listed for Rent $3,100 RMLSFL
• 2026-03-31 Rental Removed $4,300 RMLSFL
• 2026-03-30 Contingent — Beaches MLS
• 2026-01-19 Price Changed $299,000 Beaches MLS
• 2026-01-08 Price Changed $319,900 Beaches MLS
• 2025-11-26 Listed $324,900 Beaches MLS
• 2025-10-02 Price Changed $4,300 RMLSFL
• 2025-08-10 Listed for Rent $4,800 RMLSFL
• 2024-03-24 Rental Removed $3,000 APPFOLIO
• 2023-10-29 Listed for Rent $3,000 APPFOLIO
• 2020-11-30 Sold (Public Records) $203,100 Public Records
• 2020-11-19 Sold (MLS) $203,100 Beaches MLS
• 2020-11-09 Pending — Beaches MLS
• 2020-11-02 Listed $209,900 Beaches MLS

Property tax history

+11.7%/yr

Latest (2025): $5,217 · +3.4% YoY. Source: county tax records.