113 Cordoba Cir · Royal Palm Beach, FL 33411

$425,000

3 bd · 2.0 ba · 1,700 sqft · SingleFamily public records · 16 Days on market

Built 1987 0.33 ac lot Est $624k · 32% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +7.5/30.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.6/10.0

Listing remarks

CALLING FOR HIGHEST AND BEST OFFERS BY MONDAY (6/29) @ 5PM. Nestled on an expansive 1/3-acre waterfront lot in the heart of Royal Palm Beach, this 3-bedroom, 2-bathroom home offers the perfect blend of privacy, nature, and everyday comfort. The split floorplan provides an ideal layout for both relaxing and entertaining, with the primary suite thoughtfully separated from the guest bedrooms for added privacy. Step outside and discover your own private tropical oasis. The lush grounds are adorned with mature fruit trees — including mango, avocado, and more — offering a bounty that only true Florida living can provide. The serene waterfront setting creates a peaceful backdrop you'll

Key facts

• Mature fruit trees
• Waterfront lot
• Generous lot size

Tags

• WATERFRONT LOT
• PRIVATE TROPICAL OASIS
• MATURE FRUIT TREES
• GENEROUS LOT SIZE
• MATURE TROPICAL LANDSCAPING

Property features AI

Exterior

• Home design: Single family home; 1 floor

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Single-story layout

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $425k.

Deal economics

• At list price, monthly cash flow is $-531 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $348k (18.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $305k (28.3% below list).
• Recommended offer: $305k (28.3% 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.
• Zoned schools: H. L. Johnson Elementary School (math 70% / reading 69%, grade A-, #364 of 2,144 statewide, top 19%, 817 students, 40% FRL); Crestwood Community Middle (math 49% / reading 52%, grade C, #246 of 571 statewide, top 44%, 724 students, 50% FRL); Royal Palm Beach High School (math 22% / reading 38%, grade F, #441 of 667 statewide, top 67%, 2,343 students, 57% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: Rents flat; 583 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); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 39% 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 $45k of equity ($3k loan paydown + $42k 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.
• By year 2, paydown + projected appreciation supports a ~$73k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($419k) is reasonable based on typical stale-listing flexibility.

Recommended offer $304,550 (28.3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.72% ✗
• Cap rate: 4.79%
• Cash-on-cash: -5.36%
• DSCR: 0.76
• GRM: 11.6

CMA / ARV

• ARV (on-the-fly): $623,900
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
123 Santiago St	0.43mi	3/2.0	1,705 (+0%)	18mo	$625,000	$367	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: 19.9%
• Equity multiple: 2.61×
• Total profit: $191,234
• Equity at exit: $382,874

10-year hold

• IRR: 17.8%
• Equity multiple: 5.86×
• Total profit: $577,874
• Equity at exit: $825,682

Cash invested: $119,000 (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 33411

• Home prices YoY: 1.9%
• Rents YoY: 0.8%
• Active inventory: 583
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $3,046 high
• Mortgage (P&I): −$2,229
• Tax est. 1.5%: −$531 /mo · $6,375/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$640
• Net cashflow: $-531

Break-even live

Break-even rent $3,718

Max offer price $348,144

Occupancy floor —

Sensitivity live

Price	-10% $-237	-5% $-384	+0% $-531	+5% $-678	+10% $-825
Rent	-10% $-772	-5% $-651	+0% $-531	+5% $-411	+10% $-291
Rate	-1.0pp $-317	-0.5pp $-423	base $-531	+0.5pp $-641	+1.0pp $-753

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
216 Cordoba Cir Royal Palm Beach, FL	3.0	2.0	1461	$3,440	$2.35	1d	1	0.17mi
2106 Belcara Ct West Palm Beach, FL	3.0	2.0	1891	$3,400	$1.80	26d	1	0.30mi
151 Cordoba Cir Royal Palm Beach, FL	3.0	2.0	1421	$3,300	$2.32	26d	1	0.31mi
158 Cordoba Cir Royal Palm Beach, FL	3.0	2.0	1887	$3,850	$2.04	24d	1	0.37mi
2830 Bellarosa Cir West Palm Beach, FL	3.0	2.5	2046	$3,300	$1.61	26d	1	0.46mi
148 Ponce de Leon St Royal Palm Beach, FL	3.0	2.0	2022	$3,500	$1.73	26d	1	0.48mi
240 Bilbao St Royal Palm Beach, FL	3.0	2.0	1440	$3,400	$2.36	26d	1	0.56mi
221 Bilbao St Royal Palm Beach, FL	3.0	2.0	1657	$3,700	$2.23	26d	1	0.57mi
145 Prestige Dr Royal Palm Beach, FL	3.0	2.0	1464	$2,900	$1.98	19d	1	0.63mi
1803 Palm Beach Trace Dr Royal Palm Beach, FL	2.0	2.0	1201	$2,000	$1.67	21d	1	0.65mi
296 Sandpiper Ave Royal Palm Beach, FL	3.0	2.0	1569	$3,100	$1.98	26d	1	0.65mi
1605 Palm Beach Trace Dr Royal Palm Beach, FL	2.0	2.0	1201	$2,100	$1.75	15d	1	0.67mi
212 Trace Ct Royal Palm Beach, FL	3.0	2.0	1740	$3,050	$1.75	7d	1	0.67mi
179 Dove Cir Royal Palm Beach, FL	3.0	2.0	1642	$3,500	$2.13	26d	1	0.67mi
182 Sparrow Dr Unit A Royal Palm Beach, FL	3.0	2.0	1485	$3,000	$2.02	26d	1	0.67mi
147 Alcazar St Royal Palm Beach, FL	4.0	3.0	2182	$3,950	$1.81	7d	1	0.68mi
1407 Lakeview Dr E Royal Palm Beach, FL	2.0	2.0	1165	$2,300	$1.97	10d	1	0.71mi
10276 Fox Trail Rd S West Palm Beach, FL	2.0	2.0	1051	$1,900	$1.81	26d	2	0.72mi
10276 Fox Trail Rd S #110 West Palm Beach, FL	2.0	2.0	1051	$2,000	$1.90	24d	1	0.72mi
1601 Lakeview Dr W Unit 1601 Royal Palm Beach, FL	3.0	2.5	1296	$2,375	$1.83	24d	1	0.75mi
101 Fairway Ln Royal Palm Beach, FL	3.0	2.5	1684	$3,300	$1.96	24d	1	0.84mi
118 Bobwhite Rd Royal Palm Beach, FL	3.0	2.0	1444	$3,200	$2.22	19d	1	0.86mi
180 Heatherwood Dr Royal Palm Beach, FL	3.0	2.0	1462	$2,710	$1.85	7d	1	0.91mi
10863 Dalmany Way Royal Palm Beach, FL	3.0	2.0	1232	$3,500	$2.84	26d	1	0.92mi
9873 Baywinds Dr #5212 West Palm Beach, FL	3.0	2.0	1310	$2,450	$1.87	26d	1	0.94mi
43 Essex Ct Unit A Royal Palm Beach, FL	2.0	2.5	1398	$2,500	$1.79	26d	1	0.95mi
9857 Baywinds Dr #9210 West Palm Beach, FL	2.0	2.0	1141	$2,395	$2.10	10d	1	0.95mi
9857 Baywinds Dr #9210 West Palm Beach, FL	2.0	2.0	1141	$2,600	$2.28	13d	1	0.95mi
36 Danbury Ct Unit B Royal Palm Beach, FL	2.0	2.5	1398	$2,300	$1.65	13d	1	1.00mi
9901 Baywinds Dr #3202 West Palm Beach, FL	3.0	2.0	1310	$1,200	$0.92	17d	1	1.00mi
9901 Baywinds Dr #3202 West Palm Beach, FL	3.0	2.0	1310	$2,500	$1.91	26d	1	1.00mi
139 Sparrow Dr Royal Palm Beach, FL	2.0–3.0	1.5–2.5	1100	$2,390	$2.17	17d	3	1.01mi
113 Madrid St Royal Palm Beach, FL	3.0	3.0	1720	$4,500	$2.62	12d	1	1.03mi
113 Madrid St Royal Palm Beach, FL	4.0	3.0	1720	$4,500	$2.62	26d	1	1.03mi
9825 Baywinds Blvd Unit 1125 West Palm Beach, FL	2.0	2.0	1258	$1,925	$1.53	22d	1	1.04mi
9825 Baywinds Dr #1302 West Palm Beach, FL	2.0	2.0	1141	$2,295	$2.01	22d	1	1.04mi
9905 Baywinds Dr West Palm Beach, FL	2.0	2.0	1141	$2,400	$2.10	17d	2	1.04mi
9905 Baywinds Dr West Palm Beach, FL	1.0–2.0	1.0–2.0	1036	$2,250	$2.17	6d	2	1.04mi
9825 Baywinds Dr West Palm Beach, FL	2.0	2.0	1199	$2,110	$1.76	26d	2	1.04mi
100 Miramar Ave Royal Palm Beach, FL	3.0	2.0	1812	$3,600	$1.99	26d	1	1.06mi

Listing history 12 events

1. 2026-06-21
   remarks 687-char remark
2. 2026-06-21
   pricedays on market $425,000 Active 16 DOM
3. 2026-06-18
   days on market $559,000 Active 13 DOM
4. 2026-06-17
   days on market $559,000 Active 12 DOM
5. 2026-06-16
   days on market $559,000 Active 11 DOM
6. 2026-06-15
   days on market $559,000 Active 10 DOM
7. 2026-06-13
   pricedays on market $559,000 Active 8 DOM
8. 2026-06-09
   days on market $575,000 Active 4 DOM
9. 2026-06-08
   days on market $575,000 Active 3 DOM
10. 2026-06-07
    statusdays on marketlisting id $575,000 Active 2 DOM
11. 2026-06-03
    remarks 681-char remark
12. 2026-06-03
    listed $575,000 Coming Soon 1 DOM

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

Taxation est. · year 1

• Rental income: $36,546
• − Mortgage interest: −$23,807
• − Property taxes: −$6,375
• − Insurance: −$2,125
• − Repairs & maintenance: −$2,924
• − Management: −$2,924
• − Depreciation: −$12,364
• Taxable loss: −$13,972
• Est. tax savings @ 24.0%: +$3,353
• After-tax cash flow: $-3,020/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