12027 S Greenway Cir #206 · Royal Palm Beach, FL 33411

$130,000

2 bd · 2.0 ba · 1,088 sqft · Condo public records · 181 Days on market

Built 1972 $187/mo HOA · 9% of rent

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

This 2/2 condo located in the second floor corner, in Greenway Village, a well-kept 55+ community in Royal Palm Beach, offers easy living with no membership fees and no restrictions on credit score, down payment, or income. This is a very quiet neighborhood and well maintained and managed community. The unit has a combination of wood & tile floors, it has a finished enclosed porch (balcony). In great condition and ready to move in. Clubhouse and laundry facility. Closer to Turnpike, shopping centers, airport Conveniently located near shopping, dining, and everyday essentials--perfect for year-round or seasonal use. Community offers pool and pickleball courts and many social events.

Key facts

• Wood and tile floors
• Pickleball courts
• Quiet neighborhood

Tags

• FINISHED ENCLOSED PORCH
• WOOD AND TILE FLOORS
• CLUBHOUSE AND LAUNDRY FACILITY
• COMMUNITY OFFERS POOL
• PICKLEBALL COURTS
• QUIET NEIGHBORHOOD

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Quarterly association fee; Association fee includes hot water; Community amenities: clubhouse, laundry, barbecue, picnic area, trails; Senior community

Exterior

• Parking: Assigned parking (1 space); 1 covered space; 1-car garage
• Security: Smoke detector(s)
• Utilities: Has cooling (central air)
• Home design: 2-story building; Entry on second level
• Construction: Block construction; Resale property
• Exterior features: Fruit trees

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Bedroom on main level; Second-floor entry; Tile flooring; Smoke detectors
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $528 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.

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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).

Forward outlook

• In year one you build about $14k of equity ($899 loan paydown + $13k 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 $36k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $49k; list at $130k implies a 166% 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 $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 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 1972 — 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 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?
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: 1.57% ✓
• Cap rate: 11.17%
• Cash-on-cash: 17.42%
• DSCR: 1.78
• GRM: 5.3

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: 36.0%
• Equity multiple: 3.75×
• Total profit: $100,280
• Equity at exit: $117,114

10-year hold

• IRR: 30.2%
• Equity multiple: 8.17×
• Total profit: $261,112
• Equity at exit: $252,561

Cash invested: $36,400 (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: 5.3×

Monthly cashflow live

• Estimated rent: $2,040 high
• Mortgage (P&I): −$682
• Tax from tax record: −$160 /mo · $1,919/yr
• Insurance: −$54
• HOA: −$187
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $528

Break-even live

Break-even rent $1,371

Max offer price $130,000

Occupancy floor 69%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4 W Greenway Dr Unit 201 Royal Palm Beach, FL	1.0	1.5	780	$1,450	$1.86	24d	1	0.08mi
12002 Poinciana Blvd #204 Royal Palm Beach, FL	2.0	2.0	1048	$1,750	$1.67	24d	1	0.09mi
12007 Poinciana Blvd #205 Royal Palm Beach, FL	2.0	2.0	1088	$1,590	$1.46	15d	1	0.09mi
4 Greenway Vlg N #203 Royal Palm Beach, FL	2.0	2.0	1080	$2,000	$1.85	24d	1	0.23mi
2 Greenway Vlg N #210 Royal Palm Beach, FL	2.0	2.0	1080	$2,000	$1.85	24d	1	0.23mi
7 Greenway Vlg N #107 Royal Palm Beach, FL	1.0	1.5	780	$1,650	$2.12	4d	1	0.24mi
7 Greenway Vlg N Royal Palm Beach, FL	1.0–2.0	1.5–2.0	930	$1,700	$1.83	17d	2	0.24mi
830 Royal Palm Beach Blvd Royal Palm Beach, FL	3.0	2.0	1369	$2,766	$2.02	8d	1	0.33mi
11823 Dahlia Dr Royal Palm Beach, FL	3.0	2.0	1385	$2,406	$1.74	8d	1	0.48mi
73 Macadamia Ct Royal Palm Beach, FL	2.0	2.0	1112	$2,000	$1.80	11d	1	0.54mi
201 Seminole Lakes Dr Royal Palm Beach, FL	1.0	1.0	800	$1,400	$1.75	24d	1	0.55mi
120 Sparrow Dr #205 Royal Palm Beach, FL	2.0	2.0	793	$2,200	$2.77	24d	1	0.56mi
120 Sparrow Dr Royal Palm Beach, FL	2.0	2.0–2.5	793	$2,200	$2.77	22d	2	0.56mi
139 Sparrow Dr Royal Palm Beach, FL	2.0–3.0	1.5–2.5	1100	$1,850	$1.68	15d	3	0.74mi
132 Weybridge Cir Royal Palm Beach, FL	2.0	2.5	1470	$3,000	$2.04	24d	1	0.83mi
280 Crestwood Cir #204 Royal Palm Beach, FL	2.0	2.0	1024	$2,150	$2.10	15d	1	0.84mi
110 Weybridge Cir Unit A Royal Palm Beach, FL	2.0	2.5	1470	$2,350	$1.60	22d	1	0.85mi
310 Crestwood Ct N Unit 310 Royal Palm Beach, FL	2.0	2.0	1112	$2,250	$2.02	4d	1	0.87mi
500 Crestwood Ct N #517 Royal Palm Beach, FL	2.0	2.0	1200	$2,200	$1.83	19d	1	0.89mi
500 Crestwood Ct N #517 Royal Palm Beach, FL	2.0	2.0	1200	$2,200	$1.83	24d	1	0.89mi
600 Crestwood Ct N #609 Royal Palm Beach, FL	2.0	2.0	1112	$2,250	$2.02	15d	1	0.90mi
263 Deerfield Ct Royal Palm Beach, FL	2.0	2.0	1120	$1,800	$1.61	24d	1	0.90mi
300 Crestwood Ct N #310 Royal Palm Beach, FL	2.0	2.0	1112	$2,250	$2.02	4d	1	0.92mi
330 Crestwood Cir #303 Royal Palm Beach, FL	2.0	2.0	1306	$2,150	$1.65	24d	1	0.92mi
700 Crestwood Ct S #708 Royal Palm Beach, FL	2.0	2.0	1075	$2,750	$2.56	24d	1	0.92mi
1049 Grandview Cir Royal Palm Beach, FL	3.0	2.0	792	$3,100	$3.91	17d	1	0.93mi
200 Crestwood Ct N #211 Royal Palm Beach, FL	3.0	2.0	1173	$2,400	$2.05	24d	1	0.94mi
1200 Crestwood Ct S #1212 Royal Palm Beach, FL	3.0	2.0	1199	$2,500	$2.09	24d	1	0.95mi
340 Crestwood Cir #302 Royal Palm Beach, FL	3.0	2.0	1306	$2,550	$1.95	22d	1	0.96mi
1000 Crestwood Ct S #1009 Royal Palm Beach, FL	2.0	2.0	1112	$2,200	$1.98	8d	1	0.97mi
1700 Crestwood Ct S #1708 Royal Palm Beach, FL	2.0	2.0	1075	$2,200	$2.05	3d	1	0.98mi
1100 Crestwood Ct S #1109 Royal Palm Beach, FL	2.0	2.0	1128	$2,300	$2.04	24d	1	0.98mi
182 Sparrow Dr Unit A Royal Palm Beach, FL	3.0	2.0	1485	$3,000	$2.02	24d	1	1.01mi
10863 Dalmany Way Royal Palm Beach, FL	3.0	2.0	1232	$3,500	$2.84	24d	1	1.11mi
1601 Lakeview Dr W Unit 1601 Royal Palm Beach, FL	3.0	2.5	1296	$2,375	$1.83	22d	1	1.12mi
118 Bobwhite Rd Royal Palm Beach, FL	3.0	2.0	1444	$3,200	$2.22	17d	1	1.13mi
202 Sparrow Dr #1 Royal Palm Beach, FL	3.0	2.0	1020	$2,400	$2.35	24d	1	1.14mi
1407 Lakeview Dr E Royal Palm Beach, FL	2.0	2.0	1165	$2,300	$1.97	8d	1	1.17mi
210 Sparrow Dr #4 Royal Palm Beach, FL	2.0	2.0	930	$1,900	$2.04	21d	1	1.19mi
11020 Town Cir Wellington, FL	1.0–3.0	1.0–2.0	1013	$2,644	$2.61	1d	14	1.37mi

HOA detail condo

• Monthly dues: $187 · $2,244/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 45 events

1. 2026-06-18
   days on market $130,000 Active 181 DOM
2. 2026-06-17
   days on market $130,000 Active 180 DOM
3. 2026-06-16
   days on market $130,000 Active 179 DOM
4. 2026-06-15
   days on market $130,000 Active 178 DOM
5. 2026-06-13
   days on market $130,000 Active 176 DOM
6. 2026-06-09
   days on market $130,000 Active 172 DOM
7. 2026-06-07
   days on market $130,000 Active 170 DOM
8. 2026-06-04
   days on market $130,000 Active 167 DOM
9. 2026-06-03
   days on market $130,000 Active 166 DOM
10. 2026-06-01
    days on market $130,000 Active 164 DOM
11. 2026-05-31
    days on market $130,000 Active 163 DOM
12. 2026-05-07
    price $130,000
13. 2026-04-28
    price $135,000
14. 2025-12-18
    listed $140,000 Active
15. 2025-06-25
    historical
16. 2025-04-24
    price $150,000
17. 2025-04-06
    price $125,000
18. 2025-03-22
    price $128,000
19. 2025-03-04
    price $140,000
20. 2025-02-10
    price $149,000
21. 2024-12-26
    listed $150,000 Active
22. 2020-06-26
    historical
23. 2020-02-22
    price $79,000
24. 2020-01-04
    listed $83,000 Active
25. 2019-12-18
    historical
26. 2019-10-08
    price $70,000
27. 2019-08-22
    price $72,999
28. 2019-08-08
    price $75,900
29. 2019-07-31
    price $77,000
30. 2019-06-28
    price $80,000
31. 2019-05-14
    price $74,000
32. 2019-01-10
    listed $78,000 Active
33. 2017-02-24
    soldstatus $48,900 Closed
34. 2017-02-08
    status Pending
35. 2016-11-29
    price $49,900
36. 2016-11-02
    price $54,900
37. 2016-09-25
    listed $59,900 Active
38. 2016-08-25
    historical
39. 2016-02-27
    price $54,900
40. 2015-12-10
    price $59,900
41. 2015-11-08
    listed $65,000 Active
42. 2002-12-31
    soldstatus $55,000
43. 2002-12-24
    soldstatus $55,000
44. 2002-11-18
    historical
45. 2002-10-01
    listed $55,000

ⓘ 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: $1,919 · $160/mo
• Projected year-2 tax: $1,919 · $160/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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,475
• − Mortgage interest: −$7,282
• − Property taxes: −$1,919
• − Insurance: −$650
• − Repairs & maintenance: −$1,958
• − Management: −$1,958
• − HOA: −$2,244
• − Depreciation: −$3,782
• Taxable income: $4,682
• Est. tax owed @ 24.0%: −$1,124
• After-tax cash flow: $5,217/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

+136.4% since first listed

34 events — show timeline

• 2026-05-07 Price Changed $130,000 MARMLS
• 2026-04-28 Price Changed $135,000 MARMLS
• 2025-12-18 Listed $140,000 MARMLS
• 2025-06-25 Listing Removed — Beaches MLS
• 2025-04-24 Price Changed $150,000 Beaches MLS
• 2025-04-06 Price Changed $125,000 Beaches MLS
• 2025-03-22 Price Changed $128,000 Beaches MLS
• 2025-03-04 Price Changed $140,000 Beaches MLS
• 2025-02-10 Price Changed $149,000 Beaches MLS
• 2024-12-26 Listed $150,000 Beaches MLS
• 2020-06-26 Listing Removed — Beaches MLS
• 2020-02-22 Price Changed $79,000 Beaches MLS
• 2020-01-04 Listed $83,000 Beaches MLS
• 2019-12-18 Listing Removed — Beaches MLS
• 2019-10-08 Price Changed $70,000 Beaches MLS
• 2019-08-22 Price Changed $72,999 Beaches MLS
• 2019-08-08 Price Changed $75,900 Beaches MLS
• 2019-07-31 Price Changed $77,000 Beaches MLS
• 2019-06-28 Price Changed $80,000 Beaches MLS
• 2019-05-14 Price Changed $74,000 Beaches MLS
• 2019-01-10 Listed $78,000 Beaches MLS
• 2017-02-24 Sold (MLS) $48,900 Beaches MLS
• 2017-02-08 Pending — Beaches MLS
• 2016-11-29 Price Changed $49,900 Beaches MLS
• 2016-11-02 Price Changed $54,900 Beaches MLS
• 2016-09-25 Listed $59,900 Beaches MLS
• 2016-08-25 Listing Removed — Beaches MLS
• 2016-02-27 Price Changed $54,900 Beaches MLS
• 2015-12-10 Price Changed $59,900 Beaches MLS
• 2015-11-08 Listed $65,000 Beaches MLS
• 2002-12-31 Sold (Public Records) $55,000 Public Records
• 2002-12-24 Sold (MLS) $55,000 Beaches MLS
• 2002-11-18 Listing Removed — Beaches MLS
• 2002-10-01 Listed $55,000 Beaches MLS

Property tax history

+16.1%/yr

Latest (2025): $1,919 · +1.5% YoY. Source: county tax records.