2812 Garden Dr S #308 · Palm Springs, FL 33461

$62,000

1 bd · 1.0 ba · 744 sqft · Condo public records · 17 Days on market

Built 1970 $619/mo HOA · 38% of rent

---

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 +29.8/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

BEST PRICED ONE ONE IN LAKE CLARKE GARDENS...ESTATE SALE...DON'T WORRY ABOUT OFFERS.....SOME FURNISHINGS .....REC LEASE PAID...GREAT BUILDING NEAR WARM POOL AND LAKE...

Key facts

• Led-framed mirror
• Access the balcony
• Serene canal view

Tags

• BRAND-NEW BATHROOM
• WATER VIEW
• LED-FRAMED MIRROR
• NEW LIGHTING FIXTURES
• ACCESS THE BALCONY
• SERENE CANAL VIEW

Property features AI

Finance

• Other: Community is a senior community; 855 units in the community
• Financial info: No land lease; Pets not allowed
• HOA & community: Part of Lake Clarke Gardens association; Monthly association fee; Association amenities include: heated pool, pool, clubhouse, fitness center, billiard room, game room, laundry, manager on site, trash chute, elevators, bike storage, bocce ball, bocce/pottery hobby room, community room, courtesy bus, internet included, kitchen facilities, maintained community, putting green, security, recreation facilities, parking, maintenance; Association fee covers: cable TV, internet, grounds and structure maintenance, pest control, security, sewer, trash, water, common areas, elevator, reserve funds, roof repairs, recreation facility and pool service

Exterior

• Parking: One assigned open parking space
• Security: Fire alarm; Smoke detectors; Community security
• Utilities: Public water; Public sewer; Cable connected; Electricity available; Water connected; Sewer connected
• Home design: Condominium; One level; Entry level living area on level 3; Faces south
• Construction: CBS construction; Rolled/hot mop roof; 4-story building
• Exterior features: Paved road frontage; Private maintained road; Not waterfront

Interior

• Kitchen: Refrigerator; Freezer; Microwave; Disposal; Electric water heater
• Bedrooms: One bedroom on the main level
• Flooring: Ceramic tile
• Bathrooms: One full bathroom (accessible full bath)
• Heating & cooling: Central heating; Central air
• Interior features: Built-in features; Walk-in closet(s); Furnished; Blinds and drapes
• Laundry & utility: Common area laundry with multiple locations / laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $62k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $62k).
• Recommended offer: $61k (1.5% 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+, 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: Meadow Park Elementary School (math 64% / reading 73%, grade B+, #409 of 2,144 statewide, top 20%, 809 students, 65% FRL); Forest Hill Community High School (math 20% / reading 41%, grade F, #434 of 667 statewide, top 66%, 2,407 students, 66% FRL).
• Market conditions: Rents soft (-2.5%/yr); 274 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 32% 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 $429 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 17 days — a 2% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 27y 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 $22k; list at $62k implies a 182% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 38% 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 $61,070 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.65% ✓
• Cap rate: 10.70%
• Cash-on-cash: 15.74%
• DSCR: 1.70
• GRM: 3.1

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: 0.1%
• Equity multiple: 1.00×
• Total profit: $61
• Equity at exit: $9,244

10-year hold

• IRR: 2.0%
• Equity multiple: 1.11×
• Total profit: $1,829
• Equity at exit: $5,361

Cash invested: $17,360 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,642 high
• Mortgage (P&I): −$325
• Tax from tax record: −$100 /mo · $1,194/yr
• Insurance: −$26
• HOA: −$619
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $228

Break-even live

Break-even rent $1,354

Max offer price $62,000

Occupancy floor 81%

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2566 Garden Dr S Lake Worth Beach, FL	1.0	1.0	744	$1,395	$1.88	24d	1	0.22mi
3260 Hi St Unit B Lake Worth Beach, FL	1.0	1.0	400	$1,700	$4.25	24d	1	0.27mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,722	$2.51	1d	5	0.54mi
3017 Buckley Ave Lake Worth, FL	2.0	1.0	720	$2,200	$3.06	24d	1	0.60mi
3300 Boutwell Rd Lake Worth Beach, FL	1.0–2.0	1.0–2.0	765	$1,870	$2.44	24d	1	0.66mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,550	$1.82	24d	2	0.95mi
2571 Lake Worth Rd Lake Worth, FL	1.0–2.0	1.0–2.0	750	$1,378	$1.84	2d	2	0.97mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,650	$2.00	24d	3	0.98mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	22d	1	1.01mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,055	$2.13	2d	14	1.02mi
3654 Coconut Rd Palm Springs, FL	1.0	1.0	600	$1,500	$2.50	24d	1	1.03mi
300 Bonnie Blvd #144 Palm Springs, FL	1.0	1.0	702	$1,350	$1.92	24d	1	1.06mi
1755 Forest Hill Blvd Lake Clarke Shores, FL	1.0	1.0	662	$1,595	$2.41	8d	1	1.08mi
3901 Lakewood Rd Unit A Lake Worth Beach, FL	2.0	1.0	704	$2,000	$2.84	24d	1	1.11mi
2220 Lake Worth Rd Lake Worth, FL	1.0	1.0	700	$1,779	$2.54	22d	1	1.12mi
1765 16th Ct N Lake Worth Beach, FL	—	1.0	450	$1,700	$3.78	24d	1	1.13mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,450	$2.64	24d	1	1.19mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,375	$2.50	22d	1	1.19mi
3874 7th Ave N Unit 3878 Lake Worth Beach, FL	1.0	1.0	528	$1,600	$3.03	24d	1	1.20mi
3890 Lakewood Rd #1 Lake Worth, FL	1.0	1.0	433	$1,500	$3.46	11d	1	1.30mi
3263 Kirk Rd #2 Lake Worth, FL	1.0	1.0	619	$1,650	$2.67	24d	1	1.33mi
3263 Kirk Rd #2 Lake Worth, FL	1.0	1.0	619	$1,650	$2.67	8d	1	1.33mi
3901 Gulfstream Rd Unit 2 B Lake Worth Beach, FL	1.0	1.0	450	$1,700	$3.78	21d	1	1.35mi
123 Erie St Apt 10 Lake Worth, FL	1.0	1.0	600	$1,325	$2.21	24d	1	1.43mi
136 Akron St Apt B2 Lake Worth Beach, FL	1.0	1.0	599	$2,175	$3.63	24d	1	1.44mi
136 Akron St Unit A1 Lake Worth Beach, FL	1.0	1.0	599	$2,075	$3.46	24d	1	1.44mi
600 Village Green Ct #203 Palm Springs, FL	1.0	1.0	650	$1,300	$2.00	4d	1	1.45mi
555 Purdy Ln Palm Springs, FL	1.0	1.0	650	$1,375	$2.12	5d	1	1.49mi
1201 N E St Unit 2 Lake Worth Beach, FL	1.0	1.0	600	$1,500	$2.50	24d	1	1.49mi

HOA detail condo

• Monthly dues: $619 · $7,428/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $62,000 Active 17 DOM
2. 2026-06-17
   days on market $62,000 Active 16 DOM
3. 2026-06-16
   days on market $62,000 Active 15 DOM
4. 2026-06-15
   days on market $62,000 Active 14 DOM
5. 2026-06-13
   days on market $62,000 Active 12 DOM
6. 2026-06-09
   days on market $62,000 Active 8 DOM
7. 2026-06-08
   days on market $62,000 Active 7 DOM
8. 2026-06-07
   days on market $62,000 Active 6 DOM
9. 2026-06-04
   days on market $62,000 Active 3 DOM
10. 2026-06-03
    days on market $62,000 Active 2 DOM
11. 2026-06-02
    remarks 675-char remark
12. 2026-06-02
    listed $62,000 Active 1 DOM

ⓘ 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: $1,194 · $100/mo
• Projected year-2 tax: $1,194 · $100/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 10/10 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: $19,703
• − Mortgage interest: −$3,473
• − Property taxes: −$1,194
• − Insurance: −$310
• − Repairs & maintenance: −$1,576
• − Management: −$1,576
• − HOA: −$7,428
• − Depreciation: −$1,804
• Taxable income: $2,342
• Est. tax owed @ 24.0%: −$562
• After-tax cash flow: $2,170/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

• 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

+170.7% since first listed

15 events — show timeline

• 2026-05-30 Listed $62,000 Beaches MLS
• 2025-11-12 Listing Removed — Beaches MLS
• 2025-10-12 Rental Removed $1,575 GFLMLS
• 2025-09-12 Rental Removed $1,650 RMLSFL
• 2025-09-11 Listed for Rent $1,650 RMLSFL
• 2025-07-14 Price Changed $62,000 Beaches MLS
• 2025-04-09 Listed for Rent $1,650 GFLMLS
• 2025-04-05 Listed $65,000 Beaches MLS
• 2000-04-19 Sold (Public Records) $22,000 Public Records
• 1999-07-06 Sold (Public Records) $15,000 Public Records
• 1999-07-06 Sold (MLS) $15,000 Beaches MLS
• 1999-07-04 Listing Removed — Beaches MLS
• 1999-02-02 Listed $22,000 Beaches MLS
• 1997-08-05 Sold (Public Records) $23,000 Public Records
• 1995-06-06 Sold (Public Records) $22,900 Public Records

Property tax history

+13.6%/yr

Latest (2025): $1,194 · +316.8% YoY. Source: county tax records.