328 Pine Ridge Cir Unit C1 · Greenacres, FL 33463

$128,000

2 bd · 1.0 ba · 935 sqft · Condo public records · 31 Days on market

Built 1980 $433/mo HOA · 23% 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 +25.9/30.0
• 1% rule +10.0/10.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * REMAINING COMMUNITY 5,000 ROOF ASSESSMENT BALANCE TO BE PAID BY SELLERS AT CLOSING * * Hard-to-find turnkey cozy first-floor condo unit with major updates and credits already built in! The owner’s surprise relocation gives you the rare opportunity to secure this cozy and well-positioned corner condo in one of Greenacres’ most peaceful and well-kept 55+ communities, offering major updates and amenities, built-in value, and an unbeatable low-maintenance lifestyle, at the lowest price per sq ft in the community by far. So what makes this one so special? 1) First-floor front corner unit tucked into a peaceful nook of the community, surrounded by tranquil garden views and just

Key facts

• Brand new ac unit
• Walk in closet
• $433 HOA

Tags

• FIRST FLOOR CORNER UNIT
• TRANQUIL GARDEN VIEWS
• BRAND NEW AC UNIT
• BRAND NEW WATER HEATER
• WALK IN CLOSET
• SPACE SAVING POCKET DOORS

Property features AI

Finance

• Other:
• Financial info: Total monthly fees $433; Total annual fees $5,196; Lease restrictions apply
• HOA & community: Pine Ridge III Condo Association; Monthly association fee $433 (includes cable TV, common area taxes, insurance, grounds maintenance, water); Association fee required; Community clubhouse, park, pool, tennis courts; Buyer approval required; Senior community; Pets not allowed

Exterior

• Parking:
• Security:
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Residential condominium; One-level living; Faces northwest; Floor 1 of 2-story building
• Construction: Block construction; Shingle roof; Block foundation; Built as part of building 328
• Exterior features: Tennis court(s); Pond view

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Other
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $128k.

Deal economics

• At list price, monthly cash flow is $313 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Recommended offer: $124k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#490 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools D+, 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 (+1.3%/yr); 346 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); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 31% 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 $885 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.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($124k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; 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 $42k; list at $128k implies a 208% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,160 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.50% ✓
• Cap rate: 9.23%
• Cash-on-cash: 10.48%
• DSCR: 1.47
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.33% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.90×
• Total profit: $-3,754
• Equity at exit: $19,085

10-year hold

• IRR: 4.5%
• Equity multiple: 1.30×
• Total profit: $10,717
• Equity at exit: $11,067

Cash invested: $35,840 (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 33463

• Home prices YoY: -30.9%
• Rents YoY: 1.3%
• Active inventory: 346
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,922 high
• Mortgage (P&I): −$671
• Tax from tax record: −$48 /mo · $577/yr
• Insurance: −$53
• HOA: −$433
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $313

Break-even live

Break-even rent $1,526

Max offer price $128,000

Occupancy floor 79%

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: $32,000
• Closing costs: $3,840
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
342 Pine Ridge Cir Unit B2 Greenacres, FL	2.0	1.5	935	$2,200	$2.35	15d	1	0.08mi
3490 La Jardin Ct Unit B2 Greenacres, FL	1.0	1.0	780	$1,385	$1.78	3d	1	0.20mi
5971 La Pinata Blvd Unit B1 Greenacres, FL	2.0	1.0	920	$1,750	$1.90	24d	1	0.33mi
5855 S 37th St Unit 5857 Greenacres, FL	2.0	1.0	747	$1,974	$2.64	7d	1	0.45mi
6061 10th Ave N #242 Greenacres, FL	2.0	2.0	855	$2,000	$2.34	4d	1	0.47mi
6031 10th Ave N #219 Greenacres, FL	3.0	2.0	1078	$2,400	$2.23	4d	1	0.48mi
2980 Crosley Dr E Unit F West Palm Beach, FL	2.0	1.0	829	$1,600	$1.93	24d	1	0.53mi
5775 Fernley Dr W #131 West Palm Beach, FL	2.0	2.0	1072	$2,000	$1.87	11d	1	0.56mi
2715 Emory Dr W Unit C West Palm Beach, FL	1.0	1.5	661	$1,425	$2.16	17d	1	0.61mi
2783 Dudley Dr E Unit D West Palm Beach, FL	2.0	2.0	910	$1,650	$1.81	16d	1	0.65mi
2854 Crosley Dr E Unit J West Palm Beach, FL	1.0	1.0	612	$1,300	$2.12	24d	1	0.65mi
2805 Crosley Dr E Unit E West Palm Beach, FL	1.0	1.5	662	$1,250	$1.89	24d	1	0.66mi
826 Sky Pine Way Greenacres, FL	2.0–3.0	2.0	1304	$1,800	$1.38	12d	2	0.67mi
2723 Dudley Dr W Unit G West Palm Beach, FL	1.0	1.0	611	$1,300	$2.13	24d	1	0.67mi
3045 Jackson Ave Greenacres, FL	2.0	1.0	900	$1,775	$1.97	24d	1	0.68mi
813 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1111	$1,725	$1.55	2d	1	0.69mi
813 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1111	$1,725	$1.55	15d	1	0.69mi
2647 Emory Dr W Unit C West Palm Beach, FL	1.0	1.0	612	$1,250	$2.04	24d	1	0.69mi
629 Sea Pine Way Unit D3 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	22d	1	0.71mi
5443 Cresthaven Blvd Unit F West Palm Beach, FL	2.0	2.0	910	$1,550	$1.70	2d	1	0.71mi
2625 Emory Dr W Unit F West Palm Beach, FL	2.0	2.0	895	$1,700	$1.90	24d	1	0.72mi
6170 Dodd Rd Unit The Greenacres, FL	2.0	2.0	1000	$2,600	$2.60	24d	1	0.72mi
628 Sea Pine Way Unit A2 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	16d	1	0.74mi
812 Sky Pine Way Greenacres, FL	2.0	2.0	1064	$2,100	$1.97	24d	1	0.75mi
2607 Dudley Dr W Unit L West Palm Beach, FL	1.0	1.0	611	$1,300	$2.13	7d	1	0.75mi
2515 Emory Dr W Unit A West Palm Beach, FL	2.0	2.0	895	$1,750	$1.96	24d	1	0.76mi
2515 Emory Dr W Unit A West Palm Beach, FL	2.0	2.0	895	$1,700	$1.90	3d	1	0.76mi
2731 Barkley Dr W Unit B West Palm Beach, FL	2.0	2.0	895	$1,800	$2.01	24d	1	0.77mi
811 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1064	$1,550	$1.46	20d	1	0.77mi
802 Sky Pine Way Unit E2 Greenacres, FL	2.0	2.0	1111	$1,750	$1.58	7d	1	0.79mi
712 Sunny Pine Way Greenacres, FL	2.0	2.0	1068	$2,150	$2.01	24d	1	0.79mi
2951 Ashley Dr W Unit D West Palm Beach, FL	1.0	1.5	662	$1,450	$2.19	16d	1	0.79mi
2951 Ashley Dr W West Palm Beach, FL	1.0	1.5	662	$1,525	$2.30	20d	1	0.79mi
2551 Emory Dr W Unit A West Palm Beach, FL	1.0	1.5	661	$1,600	$2.42	24d	1	0.79mi
4904 Dillon St Unit C Greenacres, FL	1.0	1.0	699	$1,450	$2.07	24d	1	0.81mi
2567 Dudley Dr W Unit F West Palm Beach, FL	2.0	1.0	815	$1,550	$1.90	24d	1	0.83mi
2556 Dudley Dr E Unit D West Palm Beach, FL	2.0	1.0	829	$1,550	$1.87	24d	1	0.84mi
4191 S 57th Ave Unit H Greenacres, FL	2.0	2.0	847	$1,750	$2.07	24d	1	0.86mi
703 Sunny Pine Way Unit G2 Greenacres, FL	2.0	2.0	1068	$2,000	$1.87	15d	1	0.86mi
4181 S 57th Ave Unit D Greenacres, FL	2.0	2.0	847	$1,850	$2.18	24d	1	0.86mi

HOA detail condo

• Monthly dues: $433 · $5,196/yr
• ⚠ Special-assessment mentions:

  * * REMAINING COMMUNITY 5,000 ROOF ASSESSMENT BALANCE TO BE PAID BY SELLERS AT CLOSING * * Hard-to-find turnkey cozy first-floor condo unit with major updates and…

Listing history 18 events

1. 2026-06-18
   days on market $128,000 Active 31 DOM
2. 2026-06-17
   days on market $128,000 Active 30 DOM
3. 2026-06-16
   days on market $128,000 Active 29 DOM
4. 2026-06-15
   days on market $128,000 Active 28 DOM
5. 2026-06-13
   days on market $128,000 Active 26 DOM
6. 2026-06-09
   days on market $128,000 Active 22 DOM
7. 2026-06-08
   days on market $128,000 Active 21 DOM
8. 2026-06-07
   days on market $128,000 Active 20 DOM
9. 2026-06-04
   pricedays on market $128,000 Active 17 DOM
10. 2026-06-03
    days on market $133,000 Active 16 DOM
11. 2026-06-02
    days on market $133,000 Active 15 DOM
12. 2026-06-01
    days on market $133,000 Active 14 DOM
13. 2026-05-31
    days on market $133,000 Active 13 DOM
14. 2026-05-22
    price $133,000
15. 2026-05-18
    listed $138,000 Active
16. 2026-05-17
    historical
17. 2026-03-06
    listed $143,000 Active
18. 1986-11-01
    soldstatus $41,500

ⓘ 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: $577 · $48/mo
• Projected year-2 tax: $1,062 · $89/mo
• Expected delta: +$486/yr (+$40/mo · 84.3%)

ⓘ 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 ≥105°F today · 24 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: $23,069
• − Mortgage interest: −$7,170
• − Property taxes: −$577
• − Insurance: −$640
• − Repairs & maintenance: −$1,845
• − Management: −$1,845
• − HOA: −$5,196
• − Depreciation: −$3,724
• Taxable income: $2,071
• Est. tax owed @ 24.0%: −$497
• After-tax cash flow: $3,260/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 — Greenacres

• Score: 69/100
• State rank: #490
• US rank: #9008

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenacres, FL
• County: Palm Beach County · 1,438,312 people
• City population: 65,478
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 65,478
• Household income: $73,865
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 1466.0

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: Hispanic / Latino 38% Black 29% White 27% Two or more races 11% Asian 4%
• Hispanic origin (detail): Mexican 8% Puerto Rican 6% Cuban 5% Dominican 2%
• Common ancestry: Hispanic 15% Romanian 1% Slovak 1%
• Foreign-born: 39% · Canada, Jamaica, China
• Languages at home: 45% English-only · Spanish 32% French/Haitian/Cajun 17% 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: ▼ -175.33%
• Current HPI: 392.055
• Rent YoY: ▲ 1.33%
• 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

+220.5% since first listed

5 events — show timeline

• 2026-05-22 Price Changed $133,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-18 Listed $138,000 Stellar MLS as Distributed by MLS Grid
• 2026-05-17 Listing Removed — Beaches MLS
• 2026-03-06 Listed $143,000 Beaches MLS
• 1986-11-01 Sold (Public Records) $41,500 Public Records

Property tax history

+8.9%/yr

Latest (2025): $577 · +4.2% YoY. Source: county tax records.