101 Waterview Dr Unit 101-1 · Palm Beach Gardens, FL 33418

$250,000

2 bd · 2.0 ba · 1,340 sqft · Condo · 109 Days on market

Built 1985 $937/mo HOA · 24% of rent ↓ 29% since listing

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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 +21.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Rare opportunity to own a delightful condo in the desirable Lakes at PGA National! This well-maintained 2-bedroom, 2-bathroom home spans 1,340 sq. ft. The interior boasts a functional split floor plan and ample natural light, creating a bright and inviting atmosphere. Residents can take advantage of the serene community setting and proximity to major highways, top-rated schools, and the world-class amenities of PGA National. Whether you're seeking a full-time residence or a peaceful Florida getaway, this property delivers. Don't miss this chance to customize your home in a fantastic location!

Key facts

• $937 HOA
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $386 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $228k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#464 in FL) — 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: Timber Trace Elementary School (math 76% / reading 79%, grade A, #163 of 2,144 statewide, top 8%, 825 students, 34% FRL); Watson B. Duncan Middle School (math 54% / reading 59%, grade B, #171 of 571 statewide, top 30%, 1,157 students, 41% FRL); Palm Beach Gardens High School (math 19% / reading 40%, grade F, #447 of 667 statewide, top 68%, 2,570 students, 61% FRL).
• Market conditions: Rents rising (+2.0%/yr); 532 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 37% of the median local income ($125k/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 $8k 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 109 days — a 9% lower offer ($228k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $227,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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 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: 1.54% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.62%
• DSCR: 1.29
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.0% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.73×
• Total profit: $-19,146
• Equity at exit: $37,276

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $2,081
• Equity at exit: $21,615

Cash invested: $70,000 (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 33418

• Home prices YoY: -32.4%
• Rents YoY: 2.0%
• Active inventory: 532
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $3,862 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$937
• Vacancy / Maint / Mgmt: −$811
• Net cashflow: $386

Break-even live

Break-even rent $3,373

Max offer price $250,000

Occupancy floor 85%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23 Lexington Ln W Unit C Palm Beach Gardens, FL	2.0	2.0	1275	$2,895	$2.27	24d	1	0.11mi
6 Lexington Ln E Unit D Palm Beach Gardens, FL	2.0	2.0	1400	$4,200	$3.00	24d	1	0.11mi
4 Lexington Ln E Unit E Palm Beach Gardens, FL	2.0	2.0	1275	$2,700	$2.12	3d	1	0.12mi
7 Lexington Ln E Palm Beach Gardens, FL	2.0	2.0	1275	$5,200	$4.08	24d	1	0.16mi
39 Dorchester Cir Palm Beach Gardens, FL	3.0	2.0	1571	$11,500	$7.32	24d	1	0.16mi
202 Cypress Point Dr #202 Palm Beach Gardens, FL	2.0	2.0	1250	$3,200	$2.56	24d	1	0.19mi
717 Windermere Way Palm Beach Gardens, FL	3.0	2.5	1869	$3,100	$1.66	3d	1	0.33mi
7 Wyndham Ln Palm Beach Gardens, FL	3.0	2.0	1571	$7,500	$4.77	24d	1	0.34mi
32 Admirals Ct Palm Beach Gardens, FL	3.0	2.0	1438	$3,590	$2.50	11d	1	0.35mi
32 Admirals Ct Palm Beach Gardens, FL	3.0	2.0	1438	$4,500	$3.13	11d	1	0.35mi
605 Masters Way Palm Beach Gardens, FL	3.0	3.0	1738	$17,500	$10.07	24d	1	0.39mi
77 Spyglass Way Palm Beach Gardens, FL	3.0	2.5	1471	$3,500	$2.38	24d	1	0.40mi
36 Ironwood Way N Unit 36 Palm Beach Gardens, FL	3.0	2.0	1480	$6,500	$4.39	24d	1	0.56mi
9016 Alister Blvd E Palm Beach Gardens, FL	1.0–3.0	1.0–2.0	1136	$2,452	$2.16	2d	47	0.57mi
4 Ironwood Way N Palm Beach Gardens, FL	3.0	2.0	1480	$3,500	$2.36	24d	1	0.58mi
127 Sunset Cove Ln Palm Beach Gardens, FL	2.0	2.0	1677	$17,000	$10.14	20d	1	0.63mi
11 Ironwood Way N Palm Beach Gardens, FL	3.0	2.0	1573	$4,800	$3.05	24d	1	0.63mi
26 Via Aurelia Palm Beach Gardens, FL	3.0	2.5	1830	$8,500	$4.64	24d	1	0.65mi
8033 Murano Cir Palm Beach Gardens, FL	3.0	2.5	1728	$3,400	$1.97	17d	1	0.73mi
293 Old Meadow Way Palm Beach Gardens, FL	3.0	3.0	1694	$6,000	$3.54	24d	1	0.77mi
265 Old Meadow Way Palm Beach Gardens, FL	2.0	2.0	1491	$3,400	$2.28	24d	1	0.77mi
204 Old Meadow Way Palm Beach Gardens, FL	2.0	2.0	1491	$4,100	$2.75	24d	1	0.80mi
8050 Murano Cir Palm Beach Gardens, FL	3.0	2.5	1728	$3,100	$1.79	24d	1	0.81mi
533 Prestwick Cir Palm Beach Gardens, FL	2.0	2.0	1514	$4,000	$2.64	24d	1	0.81mi
150 Old Meadow Way Palm Beach Gardens, FL	2.0	2.0	1418	$6,999	$4.94	20d	1	0.83mi
135 Old Meadow Way Palm Beach Gardens, FL	2.0	2.0	1418	$6,000	$4.23	24d	1	0.84mi
229 Old Meadow Way Palm Beach Gardens, FL	3.0	3.0	1694	$4,500	$2.66	24d	1	0.85mi
103 Old Meadow Way Palm Beach Gardens, FL	2.0	2.0	1491	$3,600	$2.41	14d	1	0.87mi
364 Prestwick Cir #4 Palm Beach Gardens, FL	2.0	2.5	1466	$2,600	$1.77	24d	1	0.89mi
505 Prestwick Cir Palm Beach Gardens, FL	3.0	2.0	1850	$3,250	$1.76	3d	1	0.89mi
479 Prestwick Cir Palm Beach Gardens, FL	3.0	2.0	1818	$9,500	$5.23	24d	1	0.97mi
352 Prestwick Cir #1 Palm Beach Gardens, FL	2.0	3.0	1532	$2,700	$1.76	24d	1	1.01mi
359 Prestwick Cir #2 Palm Beach Gardens, FL	2.0	3.0	1532	$3,400	$2.22	24d	1	1.02mi
401 Resort Ln Palm Beach Gardens, FL	3.0	2.5	1710	$9,600	$5.61	24d	1	1.04mi
355 Prestwick Cir #4 Palm Beach Gardens, FL	2.0	3.0	1532	$3,500	$2.28	24d	1	1.06mi
438 Brackenwood Ln S Palm Beach Gardens, FL	2.0	2.0	1366	$3,000	$2.20	24d	1	1.08mi
428 Brackenwood Ln S Palm Beach Gardens, FL	2.0	2.0	1366	$2,500	$1.83	24d	1	1.08mi
1802 Rosewood Way Palm Beach Gardens, FL	2.0	2.0	1355	$3,550	$2.62	22d	1	1.09mi
1804 Rosewood Way Palm Beach Gardens, FL	3.0	2.0	1615	$8,000	$4.95	24d	1	1.09mi
107 Resort Ln Palm Beach Gardens, FL	3.0	2.5	1710	$11,000	$6.43	24d	1	1.11mi

HOA detail condo

• Monthly dues: $937 · $11,244/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-04-21
   status Pending
2. 2026-03-31
   price $250,000
3. 2026-03-31
   price $274,990
4. 2026-03-15
   price $275,000
5. 2026-03-03
   price $299,000
6. 2026-02-27
   price $314,990
7. 2026-02-11
   price $315,000
8. 2026-01-30
   price $324,990
9. 2026-01-20
   price $325,000
10. 2026-01-02
    listed $350,000 Active
11. 2025-12-29
    historical $350,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 6 d/yr ≥106°F today · 21 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: $46,338
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,707
• − Management: −$3,707
• − HOA: −$11,244
• − Depreciation: −$7,273
• Taxable income: $1,403
• Est. tax owed @ 24.0%: −$337
• After-tax cash flow: $4,294/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 Beach Gardens

• Score: 69/100
• State rank: #464
• US rank: #8366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Beach Gardens, FL
• County: Palm Beach County · 1,438,312 people
• City population: 96,294
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 43,676
• Household income: $125,497
• Rent vs Own: 23.3% rent · 76.7% own
• Severe rent burden: 1339.0

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: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 13% Two or more races 9% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 4% Scotch-Irish 4%
• Foreign-born: 15% · Canada, China, Jamaica
• Languages at home: 83% English-only · Spanish 8% German/W. Germanic 2% 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: ▼ -172.79%
• Current HPI: 361.1997
• Rent YoY: ▲ 2.00%
• 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

-28.6% since first listed

11 events — show timeline

• 2026-04-21 Pending — Beaches MLS
• 2026-03-31 Price Changed $250,000 Beaches MLS
• 2026-03-31 Price Changed $274,990 Beaches MLS
• 2026-03-15 Price Changed $275,000 Beaches MLS
• 2026-03-03 Price Changed $299,000 Beaches MLS
• 2026-02-27 Price Changed $314,990 Beaches MLS
• 2026-02-11 Price Changed $315,000 Beaches MLS
• 2026-01-30 Price Changed $324,990 Beaches MLS
• 2026-01-20 Price Changed $325,000 Beaches MLS
• 2026-01-02 Listed $350,000 Beaches MLS
• 2025-12-29 Coming Soon $350,000 Beaches MLS