728 Ridge Rd #35 · Lantana, FL 33462

$139,900

2 bd · 1.5 ba · 872 sqft · Condo public records · 33 Days on market

Built 1966 $500/mo HOA · 22% 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
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect Get-Away to beat the snow. Two bedroom 1 1/2 bath. Walk to shopping. Close to beaches, transportation. 15 min to PB Airport and City Place. Needs Updating. No Renting for 2 years. Priced to Sell!!

Key facts

• Oak flooring
• Attached garage
• Updated bathrooms

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• OAK FLOORING
• UPDATED BATHROOMS
• IMPACT WINDOWS
• ATTACHED GARAGE

Property features AI

Finance

• HOA & community: HOA: Holly House; HOA fee $500 monthly; HOA fee covers insurance, ground maintenance, sewer, trash, and water; Senior community; Pets allowed (breed restrictions and number limits apply)

Exterior

• Parking: 2 total parking spaces; Attached 1-car garage; Covered parking
• Utilities: Public water; Public sewer; Electricity connected (circuit breakers); Cable available
• Home design: Condominium; One-story; Resale property; Faces south
• Construction: Built with concrete, stucco, and CBS; Concrete roof
• Exterior features: Open patio; Patio

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile flooring; Wood flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Walk-in closets; Split bedroom layout; Pull-down attic stairs
• Laundry & utility: Laundry area located in the garage

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#276 in FL, #4,432 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: schools C-, employment 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 rising fast (+4.1%/yr); 383 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 36% of the median local income ($74k/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 $967 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $38k; list at $140k implies a 273% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.59% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.52%
• DSCR: 1.56
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.09% rent growth · sell at horizon

5-year hold

• IRR: 4.0%
• Equity multiple: 1.16×
• Total profit: $6,096
• Equity at exit: $20,860

10-year hold

• IRR: 14.8%
• Equity multiple: 2.28×
• Total profit: $50,265
• Equity at exit: $12,096

Cash invested: $39,172 (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 33462

• Rents YoY: 4.1%
• Active inventory: 383
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,225 high
• Mortgage (P&I): −$734
• Tax from tax record: −$57 /mo · $683/yr
• Insurance: −$58
• HOA: −$500
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $409

Break-even live

Break-even rent $1,707

Max offer price $139,900

Occupancy floor 77%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
835 Andrew Redding Rd #1 Lantana, FL	2.0	2.0	875	$2,800	$3.20	24d	1	0.17mi
2640 South Dr Unit 301 Lake Worth Beach, FL	2.0	1.0	894	$1,500	$1.68	18d	1	0.24mi
2640 South Dr Unit 301 Lake Worth Beach, FL	2.0	1.0	894	$1,500	$1.68	14d	1	0.24mi
2566 South Dr Unit 306 Lake Worth Beach, FL	1.0	1.0	744	$1,850	$2.49	7d	1	0.24mi
1001 Water Tower Way Hypoluxo, FL	1.0–3.0	1.0–2.0	981	$2,380	$2.43	2d	25	0.30mi
1001 Water Tower Way Hypoluxo, FL	1.0–3.0	1.0–2.0	981	$2,336	$2.38	24d	25	0.30mi
900 Water Tower Way Lantana, FL	1.0–2.0	1.0–2.0	1176	$3,571	$3.04	3d	20	0.33mi
1420 Barton Rd Unit 1420w Lake Worth Beach, FL	2.0	1.0	990	$2,000	$2.02	10d	1	0.54mi
703 Dawn Pl Unit C Lantana, FL	2.0	2.0	935	$2,500	$2.67	7d	1	0.60mi
614 N 7th St Lantana, FL	2.0	1.0	960	$2,400	$2.50	24d	1	0.62mi
622 Minnesota St Lantana, FL	2.0	2.0	1006	$3,000	$2.98	24d	1	0.66mi
605 S 12th St Lantana, FL	2.0	1.0	700	$1,950	$2.79	3d	1	0.73mi
900 W Bloxham St Lantana, FL	3.0	1.0	925	$2,141	$2.31	21d	1	0.80mi
422 S Arnold Ave Lantana, FL	2.0	1.0	948	$2,400	$2.53	20d	1	0.80mi
329 Melody Ln Unit 331 Lantana, FL	2.0	2.0	842	$1,849	$2.20	7d	1	0.83mi
410 W Palm St Unit B28 Lantana, FL	2.0	1.5	894	$1,800	$2.01	24d	1	0.84mi
609 S Arnold Ave Lantana, FL	2.0	2.0	1076	$2,900	$2.70	16d	1	0.87mi
525 S Broadway Unit M Lantana, FL	1.0	1.0	600	$1,575	$2.62	24d	1	0.90mi
1029 S D St Apt 2 Lake Worth Beach, FL	1.0	1.0	560	$1,675	$2.99	24d	1	0.92mi
1029 S D St Lake Worth Beach, FL	1.0	1.0	550	$1,715	$3.12	24d	1	0.92mi
714 S Arnold Ave Unit B Lantana, FL	2.0	1.0	858	$2,200	$2.56	24d	1	0.95mi
802 W Windward Way #304 Lantana, FL	1.0	1.0	839	$2,700	$3.22	24d	1	0.95mi
612 W Drew St Lantana, FL	1.0	1.0	800	$1,800	$2.25	11d	1	0.96mi
612 W Drew St Unit E Lantana, FL	1.0	1.0	550	$1,900	$3.45	2d	1	0.96mi
887 W Perry St Lantana, FL	3.0	1.0	1055	$3,000	$2.84	24d	1	0.96mi
349 Wickline Blvd Lantana, FL	2.0	1.0	832	$2,300	$2.76	1d	1	0.97mi
1609 S Federal Hwy Apt 102 Lake Worth Beach, FL	1.0	1.0	672	$1,459	$2.17	24d	1	0.97mi
351 Wickline Blvd Lantana, FL	2.0	1.0	832	$2,300	$2.76	1d	1	0.97mi
119 Sunrise Ave Unit A Lantana, FL	1.0	1.0	555	$2,400	$4.32	20d	1	0.99mi
115 E Lantana Rd Lantana, FL	1.0	1.0	600	$1,600	$2.67	10d	1	0.99mi
720 N Dixie Hwy #202 Lantana, FL	2.0	2.5	1125	$2,000	$1.78	4d	1	1.00mi
300 Waterway Dr S #308 Lantana, FL	2.0	1.5	806	$2,200	$2.73	24d	1	1.01mi
303 Waterway Dr S #303 Lantana, FL	2.0	1.5	900	$2,100	$2.33	24d	1	1.01mi
200 Croton Ave Lantana, FL	1.0–2.0	1.0	695	$1,850	$2.66	14d	2	1.01mi
315 N Lake Dr Unit 6 Lantana, FL	1.0	1.0	590	$1,495	$2.53	17d	1	1.04mi
911 S D St Lake Worth Beach, FL	2.0	2.0	1023	$2,300	$2.25	18d	1	1.04mi
531 W Perry St Lantana, FL	2.0	1.0	1000	$2,400	$2.40	18d	1	1.04mi
611 E Coast Ave Unit B Lantana, FL	2.0	2.0	1125	$2,100	$1.87	20d	1	1.04mi
611 E Coast Ave Unit 2 Lantana, FL	2.0	2.0	1125	$2,050	$1.82	5d	1	1.04mi
1101 S K St Unit 16 Lake Worth Beach, FL	1.0	1.0	600	$1,550	$2.58	24d	1	1.06mi

HOA detail condo

• Monthly dues: $500 · $6,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-15
   status $139,900 Pending 33 DOM
2. 2026-06-15
   days on market $139,900 Active 33 DOM
3. 2026-06-13
   days on market $139,900 Active 31 DOM
4. 2026-06-09
   days on market $139,900 Active 27 DOM
5. 2026-06-08
   days on market $139,900 Active 26 DOM
6. 2026-06-07
   days on market $139,900 Active 25 DOM
7. 2026-06-04
   days on market $139,900 Active 22 DOM
8. 2026-06-03
   days on market $139,900 Active 21 DOM
9. 2026-06-02
   days on market $139,900 Active 20 DOM
10. 2026-06-01
    days on market $139,900 Active 19 DOM
11. 2026-05-31
    days on market $139,900 Active 18 DOM
12. 2026-05-13
    listed $139,900 Active
13. 2026-04-11
    price $149,500
14. 2026-02-10
    status Active
15. 2026-02-10
    historical Active Under Contract
16. 2026-02-10
    historical
17. 2025-10-15
    status Active
18. 2025-10-08
    historical Active Under Contract
19. 2025-06-08
    price $159,500
20. 2025-05-11
    listed $169,000 Active
21. 2015-03-21
    soldstatus $37,500
22. 2015-03-13
    soldstatus $37,500 Closed 204-char remark

    Show marketing remark (204 chars)

    Perfect Get-Away to beat the snow. Two bedroom 1 1/2 bath. Walk to shopping. Close to beaches, transportation. 15 min to PB Airport and City Place. Needs Updating. No Renting for 2 years. Priced to Sell!!

23. 2015-02-12
    status Pending 204-char remark

    Show marketing remark (204 chars)

    Perfect Get-Away to beat the snow. Two bedroom 1 1/2 bath. Walk to shopping. Close to beaches, transportation. 15 min to PB Airport and City Place. Needs Updating. No Renting for 2 years. Priced to Sell!!

24. 2015-01-28
    listed $40,000 Active 204-char remark

    Show marketing remark (204 chars)

    Perfect Get-Away to beat the snow. Two bedroom 1 1/2 bath. Walk to shopping. Close to beaches, transportation. 15 min to PB Airport and City Place. Needs Updating. No Renting for 2 years. Priced to Sell!!

25. 2001-05-08
    soldstatus $35,000
26. 2001-05-01
    soldstatus $35,000
27. 2001-04-06
    historical
28. 2001-03-04
    listed $39,900

ⓘ 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: $683 · $57/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$479/yr (+$40/mo · 70.1%)

ⓘ 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) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 26 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,697
• − Mortgage interest: −$7,837
• − Property taxes: −$683
• − Insurance: −$700
• − Repairs & maintenance: −$2,136
• − Management: −$2,136
• − HOA: −$6,000
• − Depreciation: −$4,070
• Taxable income: $3,137
• Est. tax owed @ 24.0%: −$753
• After-tax cash flow: $4,152/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 — Lantana

• Score: 74/100
• State rank: #276
• US rank: #4432

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lantana, FL
• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,371
• Household income: $73,997
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1852.0

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 0.68)
• Race & ethnicity: White 44% Black 26% Hispanic / Latino 26% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5% Cuban 3%
• Common ancestry: Hispanic 14% Romanian 2% Scotch-Irish 2%
• Foreign-born: 31% · Canada, Jamaica, Dominican Republic
• Languages at home: 60% English-only · Spanish 20% French/Haitian/Cajun 16% Other Indo-European 1%

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: ▼ -295.48%
• Current HPI: 361.5391
• Rent YoY: ▲ 4.09%
• 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

+250.6% since first listed

17 events — show timeline

• 2026-05-13 Listed $139,900 Beaches MLS
• 2026-04-11 Price Changed $149,500 Beaches MLS
• 2026-02-10 Relisted — Beaches MLS
• 2026-02-10 Contingent — Beaches MLS
• 2026-02-10 Listing Removed — Beaches MLS
• 2025-10-15 Relisted — Beaches MLS
• 2025-10-08 Contingent — Beaches MLS
• 2025-06-08 Price Changed $159,500 Beaches MLS
• 2025-05-11 Listed $169,000 Beaches MLS
• 2015-03-21 Sold (Public Records) $37,500 Public Records
• 2015-03-13 Sold (MLS) $37,500 Beaches MLS
• 2015-02-12 Pending — Beaches MLS
• 2015-01-28 Listed $40,000 Beaches MLS
• 2001-05-08 Sold (Public Records) $35,000 Public Records
• 2001-05-01 Sold (MLS) $35,000 Beaches MLS
• 2001-04-06 Listing Removed — Beaches MLS
• 2001-03-04 Listed $39,900 Beaches MLS

Property tax history

+10.3%/yr

Latest (2025): $683 · +5.0% YoY. Source: county tax records.