2770 S Garden Dr #107 · Palm Springs, FL 33461

$66,000

1 bd · 1.0 ba · 744 sqft · Condo public records · 114 Days on market

Built 1970 $533/mo HOA · 32% 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 +30.0/30.0
• 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
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully maintained, updated, clean and bright condo in tranquil 55+ community of Lake Clarke Gardens. The condo is located just steps away from one of the beautiful community pools. Kitchen and bathroom completely renovated, newer A/C and water heater, Impact windows. Come see this amazing condo in a great area with major highways, shopping and beaches close by. (HOA has income, credit score and asset requirements)

Key facts

• New floors
• Community areas
• New kitchen cabinets

Tags

• 1ST FLOOR CONDO
• NEW FLOORS
• NEW KITCHEN CABINETS
• WALKING PATHS
• COMMUNITY AREAS

Property features AI

Finance

• Other: Pets allowed with size limit
• HOA & community: Association with monthly fee (fee covers grounds maintenance, trash, water, common areas); Community amenities include fitness center, laundry, pool, shuffleboard court, internet included, and sidewalks; Senior community

Exterior

• Parking: Assigned parking and guest parking (1 parking space total); No carport
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; One story; Resale property; Faces north; Located west of US-1
• Construction: CBS construction; Tar and gravel roof; Built with public records as source for building area
• Exterior features: Covered patio; Screened patio; Patio; Sidewalks; Paved road frontage; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom on the main level
• Flooring: Ceramic tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating; Central electric cooling (central air)
• Interior features: No special interior features listed; Furnished; Blinds on windows
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $66k.

Deal economics

• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $66k).
• Recommended offer: $60k (9.0% 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: Meadow Park Elementary School (math 64% / reading 73%, grade B+, #409 of 2,144 statewide, top 20%, 809 students, 65% FRL); Forest Hill Community High School (math 20% / reading 41%, grade F, #434 of 667 statewide, top 66%, 2,407 students, 66% FRL).
• Market conditions: Rents soft (-2.5%/yr); 274 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 32% 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 $456 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $18k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $7k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,060 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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: 2.51% ✓
• Cap rate: 12.46%
• Cash-on-cash: 22.03%
• DSCR: 1.98
• GRM: 3.3

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: 9.3%
• Equity multiple: 1.35×
• Total profit: $6,408
• Equity at exit: $9,841

10-year hold

• IRR: 13.9%
• Equity multiple: 1.87×
• Total profit: $16,050
• Equity at exit: $5,706

Cash invested: $18,480 (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: 3.3×

Monthly cashflow live

• Estimated rent: $1,655 high
• Mortgage (P&I): −$346
• Tax from tax record: −$61 /mo · $734/yr
• Insurance: −$28
• HOA: −$533
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $339

Break-even live

Break-even rent $1,225

Max offer price $66,000

Occupancy floor 74%

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: $16,500
• Closing costs: $1,980
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2566 Garden Dr S Lake Worth Beach, FL	1.0	1.0	744	$1,395	$1.88	24d	1	0.22mi
3260 Hi St Unit B Lake Worth Beach, FL	1.0	1.0	400	$1,700	$4.25	24d	1	0.33mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,722	$2.51	1d	5	0.59mi
3017 Buckley Ave Lake Worth, FL	2.0	1.0	720	$2,200	$3.06	24d	1	0.66mi
3300 Boutwell Rd Lake Worth Beach, FL	1.0–2.0	1.0–2.0	765	$1,870	$2.44	24d	1	0.70mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,550	$1.82	24d	2	0.90mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,650	$2.00	24d	3	0.92mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,055	$2.13	1d	14	0.95mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	21d	1	0.96mi
300 Bonnie Blvd #144 Palm Springs, FL	1.0	1.0	702	$1,350	$1.92	24d	1	1.01mi
1755 Forest Hill Blvd Lake Clarke Shores, FL	1.0	1.0	662	$1,595	$2.41	7d	1	1.02mi
2571 Lake Worth Rd Lake Worth, FL	1.0–2.0	1.0–2.0	750	$1,378	$1.84	1d	2	1.04mi
3654 Coconut Rd Palm Springs, FL	1.0	1.0	600	$1,500	$2.50	24d	1	1.07mi
1765 16th Ct N Lake Worth Beach, FL	—	1.0	450	$1,700	$3.78	24d	1	1.11mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,450	$2.64	24d	1	1.15mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,375	$2.50	21d	1	1.15mi
3901 Lakewood Rd Unit A Lake Worth Beach, FL	2.0	1.0	704	$2,000	$2.84	24d	1	1.15mi
2220 Lake Worth Rd Lake Worth, FL	1.0	1.0	700	$1,779	$2.54	21d	1	1.18mi
3874 7th Ave N Unit 3878 Lake Worth Beach, FL	1.0	1.0	528	$1,600	$3.03	24d	1	1.23mi
3890 Lakewood Rd #1 Lake Worth, FL	1.0	1.0	433	$1,500	$3.46	10d	1	1.34mi
3263 Kirk Rd #2 Lake Worth, FL	1.0	1.0	619	$1,650	$2.67	7d	1	1.35mi
3263 Kirk Rd #2 Lake Worth, FL	1.0	1.0	619	$1,650	$2.67	24d	1	1.35mi
3901 Gulfstream Rd Unit 2 B Lake Worth Beach, FL	1.0	1.0	450	$1,700	$3.78	20d	1	1.39mi
600 Village Green Ct #203 Palm Springs, FL	1.0	1.0	650	$1,300	$2.00	3d	1	1.42mi
555 Purdy Ln Palm Springs, FL	1.0	1.0	650	$1,375	$2.12	5d	1	1.45mi
500 Village Green Cir W Palm Springs, FL	1.0–2.0	1.0–1.5	739	$1,400	$1.89	24d	2	1.47mi
555 Kirk Rd Palm Springs, FL	1.0	1.0	625	$2,268	$3.63	7d	1	1.48mi
555 Kirk Rd Palm Springs, FL	1.0	1.0	670	$2,352	$3.51	13d	1	1.48mi
123 Erie St Apt 10 Lake Worth, FL	1.0	1.0	600	$1,325	$2.21	24d	1	1.49mi
1201 N E St Unit 2 Lake Worth Beach, FL	1.0	1.0	600	$1,500	$2.50	24d	1	1.49mi
136 Akron St Unit A1 Lake Worth Beach, FL	1.0	1.0	599	$2,075	$3.46	24d	1	1.49mi
136 Akron St Apt B2 Lake Worth Beach, FL	1.0	1.0	599	$2,175	$3.63	24d	1	1.49mi

HOA detail condo

• Monthly dues: $533 · $6,396/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $66,000 Active 114 DOM
2. 2026-06-17
   days on market $66,000 Active 113 DOM
3. 2026-06-16
   days on market $66,000 Active 112 DOM
4. 2026-06-15
   days on market $66,000 Active 111 DOM
5. 2026-06-13
   days on market $66,000 Active 109 DOM
6. 2026-06-09
   days on market $66,000 Active 105 DOM
7. 2026-06-07
   days on market $66,000 Active 103 DOM
8. 2026-06-04
   days on market $66,000 Active 100 DOM
9. 2026-06-03
   days on market $66,000 Active 99 DOM
10. 2026-06-02
    days on market $66,000 Active 98 DOM
11. 2026-06-01
    days on market $66,000 Active 97 DOM
12. 2026-05-31
    days on market $66,000 Active 96 DOM
13. 2026-05-18
    price $70,000
14. 2026-03-23
    price $68,000
15. 2026-02-24
    listed $73,000 Active
16. 2021-08-13
    soldstatus $68,000 Closed 424-char remark

    Show marketing remark (424 chars)

    Beautifully maintained, updated, clean and bright condo in tranquil 55+ community of Lake Clarke Gardens. The condo is located just steps away from one of the beautiful community pools. Kitchen and bathroom completely renovated, newer A/C and water heater, Impact windows. Come see this amazing condo in a great area with major highways, shopping and beaches close by. (HOA has income, credit score and asset requirements)

17. 2021-06-11
    historical Active Under Contract 424-char remark

    Show marketing remark (424 chars)

    Beautifully maintained, updated, clean and bright condo in tranquil 55+ community of Lake Clarke Gardens. The condo is located just steps away from one of the beautiful community pools. Kitchen and bathroom completely renovated, newer A/C and water heater, Impact windows. Come see this amazing condo in a great area with major highways, shopping and beaches close by. (HOA has income, credit score and asset requirements)

18. 2021-05-07
    price $68,000 424-char remark

    Show marketing remark (424 chars)

    Beautifully maintained, updated, clean and bright condo in tranquil 55+ community of Lake Clarke Gardens. The condo is located just steps away from one of the beautiful community pools. Kitchen and bathroom completely renovated, newer A/C and water heater, Impact windows. Come see this amazing condo in a great area with major highways, shopping and beaches close by. (HOA has income, credit score and asset requirements)

19. 2021-04-26
    listed $75,000 Active 424-char remark

    Show marketing remark (424 chars)

    Beautifully maintained, updated, clean and bright condo in tranquil 55+ community of Lake Clarke Gardens. The condo is located just steps away from one of the beautiful community pools. Kitchen and bathroom completely renovated, newer A/C and water heater, Impact windows. Come see this amazing condo in a great area with major highways, shopping and beaches close by. (HOA has income, credit score and asset requirements)

20. 1998-06-23
    soldstatus $21,000
21. 1988-06-06
    soldstatus $28,000

ⓘ 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: $734 · $61/mo
• Projected year-2 tax: $734 · $61/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 10/10 Extreme 7 d/yr ≥105°F today · 27 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: $19,855
• − Mortgage interest: −$3,697
• − Property taxes: −$734
• − Insurance: −$330
• − Repairs & maintenance: −$1,588
• − Management: −$1,588
• − HOA: −$6,396
• − Depreciation: −$1,920
• Taxable income: $3,601
• Est. tax owed @ 24.0%: −$864
• After-tax cash flow: $3,208/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

• 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

+150.0% since first listed

9 events — show timeline

• 2026-05-18 Price Changed $70,000 Beaches MLS
• 2026-03-23 Price Changed $68,000 Beaches MLS
• 2026-02-24 Listed $73,000 Beaches MLS
• 2021-08-13 Sold (MLS) $68,000 Beaches MLS
• 2021-06-11 Contingent — Beaches MLS
• 2021-05-07 Price Changed $68,000 Beaches MLS
• 2021-04-26 Listed $75,000 Beaches MLS
• 1998-06-23 Sold (Public Records) $21,000 Public Records
• 1988-06-06 Sold (Public Records) $28,000 Public Records

Property tax history

+9.7%/yr

Latest (2025): $734 · -27.6% YoY. Source: county tax records.