117 Sunshine Blvd · Royal Palm Beach, FL 33411

$299,000

2 bd · 2.0 ba · 1,357 sqft · Townhouse public records · 217 Days on market

Built 1992 2,200 sqft lot $346/mo HOA · 13% of rent

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Why this score? — see what drove the C- 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 +12.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• DSCR +3.8/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this charming 2-bedroom, 2-bath villa nestled in the heart of Royal Palm Beach. This beautifully maintained home blends comfort, style and convenience in one of PBC's most desirable communities. Step inside to find an open concept living and dining area filled with natural light and vaulted ceilings that create a spacious, airy feeling. Both Bedrooms are generously sized, with the primary suite offering a private en-suite bath and ample closet space. The second bedroom is ideal for guests, a home office or family use. Enjoy Florida's sunshine year round on the private patio/porch, ideal for outdoor dining, relaxing or gardening. Additional features include in-unit laundry, assign

Key facts

• Open concept living
• Private patio
• In unit laundry

Tags

• OPEN CONCEPT LIVING
• PRIVATE PATIO
• IN UNIT LAUNDRY
• ASSIGNED PARKING
• LOW MAINTENANCE LIVING

Property features AI

Finance

• Other: Pets allowed with breed and size restrictions
• HOA & community: Homeowners association with monthly fees; HOA includes pool and sidewalks; HOA fee collected monthly and includes cable TV and grounds maintenance

Exterior

• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Villa; Single-story; Faces west; Resale property
• Construction: CBS construction
• Exterior features: Not waterfront

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Walk-in closets; Split bedroom layout
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $299k.

Deal economics

• At list price, monthly cash flow is $-37 ($-448/yr) — negative.
• To cash-flow at today's rent, offer at most $292k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $262k (12.2% below list).
• Recommended offer: $262k (12.2% below list) — sets the bar for 1% rule.

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.
• Market conditions: Rents flat; 574 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).
• This rent runs 34% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k 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.
• At projected returns (10.0% appreciation + 0.8% rent growth), your $84k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 217 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $83k; list at $299k implies a 261% gain — meaningful room to come down on a strong offer.

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 $262,451 (12.2% 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 217 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.53%
• DSCR: 0.98
• GRM: 9.5

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: 23.2%
• Equity multiple: 2.85×
• Total profit: $154,976
• Equity at exit: $269,363

10-year hold

• IRR: 20.2%
• Equity multiple: 6.35×
• Total profit: $448,062
• Equity at exit: $580,891

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 33411

• Home prices YoY: 1.9%
• Rents YoY: 0.8%
• Active inventory: 574
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,625 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$72 /mo · $865/yr
• Insurance: −$125
• HOA: −$346
• Vacancy / Maint / Mgmt: −$551
• Net cashflow: $-37

Break-even live

Break-even rent $2,672

Max offer price $292,411

Occupancy floor 96%

Sensitivity live

Price	-10% $132	-5% $47	+0% $-37	+5% $-122	+10% $-207
Rent	-10% $-245	-5% $-141	+0% $-37	+5% $66	+10% $170
Rate	-1.0pp $113	-0.5pp $39	base $-37	+0.5pp $-115	+1.0pp $-194

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 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
212 Trace Ct Royal Palm Beach, FL	3.0	2.0	1740	$3,050	$1.75	5d	1	0.24mi
36 Danbury Ct Unit B Royal Palm Beach, FL	2.0	2.5	1398	$2,300	$1.65	11d	1	0.26mi
101 Fairway Ln Royal Palm Beach, FL	3.0	2.5	1684	$3,300	$1.96	22d	1	0.27mi
43 Essex Ct Unit A Royal Palm Beach, FL	2.0	2.5	1398	$2,500	$1.79	25d	1	0.28mi
81 Westecunk Dr Royal Palm Beach, FL	2.0	2.0	1347	$2,550	$1.89	18d	1	0.30mi
190 Parkwood Dr Royal Palm Beach, FL	3.0	2.0	1644	$3,200	$1.95	25d	1	0.32mi
180 Heatherwood Dr Royal Palm Beach, FL	3.0	2.0	1462	$2,710	$1.85	5d	1	0.37mi
905 Palm Beach Trace Dr Royal Palm Beach, FL	1.0	2.0	1201	$1,700	$1.42	25d	1	0.38mi
145 Prestige Dr Royal Palm Beach, FL	3.0	2.0	1464	$2,900	$1.98	17d	1	0.41mi
1605 Palm Beach Trace Dr Royal Palm Beach, FL	2.0	2.0	1201	$2,100	$1.75	13d	1	0.41mi
1803 Palm Beach Trace Dr Royal Palm Beach, FL	2.0	2.0	1201	$2,000	$1.67	19d	1	0.44mi
100 Miramar Ave Royal Palm Beach, FL	3.0	2.0	1812	$3,600	$1.99	25d	1	0.44mi
1407 Lakeview Dr E Royal Palm Beach, FL	2.0	2.0	1165	$2,300	$1.97	8d	1	0.62mi
1601 Lakeview Dr W Unit 1601 Royal Palm Beach, FL	3.0	2.5	1296	$2,375	$1.83	22d	1	0.66mi
113 Madrid St Royal Palm Beach, FL	3.0	3.0	1720	$4,500	$2.62	10d	1	0.75mi
202 Lakeside Landing Dr Royal Palm Beach, FL	3.0	2.5	1532	$3,200	$2.09	4d	1	0.75mi
216 Cordoba Cir Royal Palm Beach, FL	3.0	2.0	1461	$3,080	$2.11	8d	1	0.76mi
240 Bilbao St Royal Palm Beach, FL	3.0	2.0	1440	$3,400	$2.36	25d	1	0.80mi
151 Cordoba Cir Royal Palm Beach, FL	3.0	2.0	1421	$3,300	$2.32	25d	1	0.85mi
221 Bilbao St Royal Palm Beach, FL	3.0	2.0	1657	$3,700	$2.23	25d	1	0.95mi
110 Weybridge Cir Unit A Royal Palm Beach, FL	2.0	2.5	1470	$2,350	$1.60	22d	1	0.95mi
182 Sparrow Dr Unit A Royal Palm Beach, FL	3.0	2.0	1485	$3,000	$2.02	25d	1	0.96mi
210 Sparrow Dr #4 Royal Palm Beach, FL	2.0	2.0	930	$1,900	$2.04	21d	1	0.98mi
202 Sparrow Dr #1 Royal Palm Beach, FL	3.0	2.0	1020	$2,400	$2.35	25d	1	1.00mi
111 Weybridge Cir Royal Palm Beach, FL	3.0	2.5	1710	$3,100	$1.81	5d	1	1.02mi
139 Sparrow Dr Royal Palm Beach, FL	2.0–3.0	1.5–2.5	1100	$1,850	$1.68	15d	3	1.03mi
132 Weybridge Cir Royal Palm Beach, FL	2.0	2.5	1470	$3,000	$2.04	25d	1	1.06mi
296 Sandpiper Ave Royal Palm Beach, FL	3.0	2.0	1569	$3,100	$1.98	25d	1	1.07mi
263 Deerfield Ct Royal Palm Beach, FL	2.0	2.0	1120	$1,800	$1.61	25d	1	1.10mi
73 Macadamia Ct Royal Palm Beach, FL	2.0	2.0	1112	$2,000	$1.80	11d	1	1.22mi
100 Sparrow Dr #14 Royal Palm Beach, FL	3.0	2.0	1737	$2,725	$1.57	25d	1	1.30mi
100 Sparrow Dr #2 Royal Palm Beach, FL	3.0	2.0	1824	$2,725	$1.49	19d	1	1.31mi
179 Dove Cir Royal Palm Beach, FL	3.0	2.0	1642	$3,500	$2.13	25d	1	1.40mi
7 Greenway Vlg N Royal Palm Beach, FL	1.0–2.0	1.5–2.0	930	$1,700	$1.83	17d	2	1.50mi
118 Bobwhite Rd Royal Palm Beach, FL	3.0	2.0	1444	$3,200	$2.22	18d	1	1.50mi

HOA detail

• Monthly dues: $346 · $4,152/yr

Listing history 11 events

1. 2026-06-04
   status $299,000 Pending 217 DOM
2. 2026-06-03
   days on market $299,000 Active 217 DOM
3. 2026-06-01
   days on market $299,000 Active 215 DOM
4. 2026-05-31
   days on market $299,000 Active 214 DOM
5. 2026-04-12
   price $305,000
6. 2026-03-24
   price $317,000
7. 2026-02-21
   price $325,000
8. 2026-02-01
   price $333,900
9. 2026-01-08
   price $339,900
10. 2025-10-29
    listed $349,900 Active
11. 1993-01-05
    soldstatus $82,900

ⓘ 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: $865 · $72/mo
• Projected year-2 tax: $2,482 · $207/mo
• Expected delta: +$1,617/yr (+$135/mo · 186.9%)

ⓘ 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 4/10 Moderate
• 🌡 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: $31,494
• − Mortgage interest: −$16,749
• − Property taxes: −$865
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,520
• − Management: −$2,520
• − HOA: −$4,152
• − Depreciation: −$8,698
• Taxable loss: −$5,504
• Est. tax savings @ 24.0%: +$1,321
• After-tax cash flow: $873/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

+267.9% since first listed

7 events — show timeline

• 2026-04-12 Price Changed $305,000 Beaches MLS
• 2026-03-24 Price Changed $317,000 Beaches MLS
• 2026-02-21 Price Changed $325,000 Beaches MLS
• 2026-02-01 Price Changed $333,900 Beaches MLS
• 2026-01-08 Price Changed $339,900 Beaches MLS
• 2025-10-29 Listed $349,900 Beaches MLS
• 1993-01-05 Sold (Public Records) $82,900 Public Records

Property tax history

-0.3%/yr

Latest (2025): $865 · +5.0% YoY. Source: county tax records.