729 Lori Dr #405 · Palm Springs, FL 33461

$59,900

2 bd · 2.0 ba · 988 sqft · Condo public records · 179 Days on market

Built 1974 $922/mo HOA · 49% 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 +27.4/30.0
• 1% rule +10.0/10.0
• DSCR +9.6/10.0
• 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

Great penthouse level condo with views of canal and pond. Near laundry and elevator. Assigned parking close by. Tile floors. Palm Spring in the middle od palm Beach county. located near airport, beaches and downtown areas. Must see! Sorry no leasing first two years of ownership. Seller will make allowances in price for redecorating.

Key facts

• Views of pond
• Tile floors
• Assigned parking

Tags

• PENTHOUSE LEVEL CONDO
• VIEWS OF CANAL
• VIEWS OF POND
• ASSIGNED PARKING
• TILE FLOORS

Property features AI

Finance

• Financial info: Not a pet-friendly community; Community contains 766 units; Senior community
• HOA & community: Homeowners association with monthly fee; Monthly HOA fee: $922.30; Community amenities: pool, fitness center, clubhouse, community room, business center, library, billiard room, workshop area, manager on site, trash chute, picnic area, putting green, bocce ball, shuffleboard court, Internet included

Exterior

• Parking: Assigned parking; Guest parking; 9 open parking spaces
• Security: Closed-circuit cameras
• Utilities: Public water; Public sewer; Three-phase electric; Sewer and water available
• Home design: Condominium; Resale; Faces south; 4 stories total; Unit model: Trinidad; Entry level information not provided
• Construction: CBS construction; Built-up roof
• Exterior features: Waterfront; Paved road frontage; West of US-1 road frontage

Interior

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

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $60k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $53k (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+, schools D-, amenities 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 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 37% 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 $414 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 179 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $27k; list at $60k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 49% 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 $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 179 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 1974 — 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: 3.15% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.53%
• DSCR: 1.56
• GRM: 2.6

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: -6.1%
• Equity multiple: 0.79×
• Total profit: $-3,504
• Equity at exit: $8,931

10-year hold

• IRR: -13.0%
• Equity multiple: 0.54×
• Total profit: $-7,709
• Equity at exit: $5,179

Cash invested: $16,772 (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: 2.6×

Monthly cashflow live

• Estimated rent: $1,889 high
• Mortgage (P&I): −$314
• Tax from tax record: −$56 /mo · $669/yr
• Insurance: −$25
• HOA: −$922
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $175

Break-even live

Break-even rent $1,667

Max offer price $59,900

Occupancy floor 86%

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: $14,975
• Closing costs: $1,797
• 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	24d	1	0.12mi
225 Bonnie Blvd Palm Springs, FL	1.0–2.0	1.5–2.0	944	$1,850	$1.96	24d	2	0.16mi
225 Bonnie Blvd #116 Palm Springs, FL	2.0	2.0	988	$1,850	$1.87	19d	1	0.16mi
506 Davis Rd Unit 6 Palm Springs, FL	2.0	2.0	958	$1,700	$1.77	24d	1	0.18mi
504 Davis Rd #96 Palm Springs, FL	2.0	2.0	1080	$2,000	$1.85	24d	1	0.18mi
502 Davis Rd Palm Springs, FL	2.0	1.0–2.0	878	$1,675	$1.91	5d	2	0.22mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,558	$2.65	2d	14	0.26mi
500 Bonnie Blvd #165 Palm Springs, FL	1.0	1.5	782	$1,350	$1.73	24d	1	0.26mi
484 Springdale Cir Unit 48d Palm Springs, FL	2.0	2.0	1102	$2,100	$1.91	17d	1	0.27mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	22d	1	0.28mi
300 Bonnie Blvd #144 Palm Springs, FL	1.0	1.0	702	$1,350	$1.92	24d	1	0.28mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,850	$2.24	24d	3	0.29mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,750	$2.06	24d	2	0.35mi
247 Cypress Ln Unit 246-C12 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	5d	1	0.35mi
247 Cypress Ln Unit 246-C06 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	24d	1	0.35mi
441 San Mateo Dr Palm Springs, FL	3.0	2.0	1092	$3,000	$2.75	24d	1	0.44mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,375	$2.50	22d	1	0.59mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,450	$2.64	24d	1	0.59mi
2200 Springdale Blvd #214 Palm Springs, FL	1.0	1.5	756	$1,550	$2.05	3d	1	0.68mi
555 Kirk Rd Palm Springs, FL	1.0	1.0	625	$2,268	$3.63	8d	1	0.74mi
555 Kirk Rd Palm Springs, FL	1.0	1.0	670	$2,352	$3.51	14d	1	0.74mi
555 Kirk Rd Palm Springs, FL	2.0	2.0	875	$3,194	$3.65	22d	1	0.74mi
555 Kirk Rd Palm Springs, FL	2.0	2.0	875	$2,749	$3.14	13d	1	0.74mi
555 Purdy Ln Palm Springs, FL	1.0	1.0	650	$1,375	$2.12	5d	1	0.83mi
500 Village Green Cir W Palm Springs, FL	1.0–2.0	1.0–1.5	739	$1,850	$2.50	24d	2	0.85mi
500 Village Green Cir W Palm Springs, FL	1.0–2.0	1.5	800	$1,850	$2.31	17d	2	0.85mi
500 Village Green Cir W #214 Palm Springs, FL	1.0	1.5	764	$1,400	$1.83	2d	1	0.85mi
500 Village Green Cir W #107 Palm Springs, FL	2.0	1.5	836	$1,850	$2.21	22d	1	0.85mi
600 Village Green Ct #203 Palm Springs, FL	1.0	1.0	650	$1,300	$2.00	4d	1	0.86mi
700 Village Green Ct Palm Springs, FL	1.0–2.0	1.5	796	$1,800	$2.26	2d	3	0.87mi
400 Village Green Cir W #214 Palm Springs, FL	1.0	1.5	764	$1,400	$1.83	24d	1	0.90mi
100 Rex Ave Palm Springs, FL	2.0	2.0	1000	$1,850	$1.85	24d	3	0.96mi
2785 Reo Ln Unit 2 Lake Worth Beach, FL	2.0	1.0	884	$2,300	$2.60	24d	1	0.97mi
2721 Garden Dr N #105 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	21d	1	0.98mi
220 Henthorne Dr Palm Springs, FL	1.0–2.0	1.5–2.0	900	$1,850	$2.06	24d	4	0.98mi
4098 Linda Ln West Palm Beach, FL	2.0	1.0	860	$2,465	$2.87	24d	1	1.05mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	4d	1	1.06mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	2d	1	1.06mi
1755 Forest Hill Blvd Lake Clarke Shores, FL	1.0	1.0	662	$1,595	$2.41	8d	1	1.07mi
2856 Garden Dr S #112 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	24d	1	1.07mi

HOA detail condo

• Monthly dues: $922 · $11,064/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-09
   status Pending
2. 2026-05-03
   price $59,900
3. 2026-03-30
   price $64,900
4. 2026-02-03
   price $69,900
5. 2025-11-11
   listed $72,000 Active
6. 1998-08-06
   soldstatus $27,000
7. 1974-01-01
   soldstatus $26,900

ⓘ 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: $669 · $56/mo
• Projected year-2 tax: $669 · $56/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) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe
• 💨 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: $22,663
• − Mortgage interest: −$3,355
• − Property taxes: −$669
• − Insurance: −$300
• − Repairs & maintenance: −$1,813
• − Management: −$1,813
• − HOA: −$11,064
• − Depreciation: −$1,743
• Taxable income: $1,906
• Est. tax owed @ 24.0%: −$457
• After-tax cash flow: $1,644/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

+122.7% since first listed

7 events — show timeline

• 2026-05-09 Pending — Beaches MLS
• 2026-05-03 Price Changed $59,900 Beaches MLS
• 2026-03-30 Price Changed $64,900 Beaches MLS
• 2026-02-03 Price Changed $69,900 Beaches MLS
• 2025-11-11 Listed $72,000 Beaches MLS
• 1998-08-06 Sold (Public Records) $27,000 Public Records
• 1974-01-01 Sold (Public Records) $26,900 Public Records

Property tax history

+4.4%/yr

Latest (2025): $669 · +4.6% YoY. Source: county tax records.