2616 N Gardens Dr #105 · Palm Springs, FL 33461

$65,000

1 bd · 1.0 ba · 744 sqft · Condo public records · 66 Days on market

Built 1983 $523/mo HOA · 32% 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 +30.0/30.0
• 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

THIS IS A 55+ COMMUNITYSuper cute and on the lake! Enjoy your morning coffee or your evening glass of wine on your patio overlooking the lake. Wood laminate and tile floors, some updates to the bathroom, walk in closet in the bedroom, roll down shutters on patio and awning over living room window.

Key facts

• Community amenities
• Lake view
• Steps to the pool

Tags

• LAKE VIEW
• COMMUNITY AMENITIES
• DEDICATED PARKING SPOT
• MOVE IN READY
• SPACIOUS WALK IN CLOSET
• STEPS TO THE POOL

Property features AI

Finance

• HOA & community: Monthly HOA ($523.81) covering cable TV, grounds maintenance and common areas; Community amenities: Billiard room, Clubhouse, Fitness center, Game room, Laundry, Pool, Sauna, Manager on site, Community room, Courtesy bus, Internet included, Library, Putting green, Street lights; Senior community

Exterior

• Parking: Assigned parking (1 space)
• Security: Smoke detector(s)
• Utilities: Public water; Cable available; Water service available
• Home design: Condominium; 3-story building; Faces north; Resale condition
• Construction: Concrete / CBS construction
• Exterior features: Covered patio; Screened patio; Patio; Waterfront

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Laminate
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet(s); Smoke detector(s)
• Laundry & utility: Community laundry available

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $65k.

Deal economics

• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $61k (6.0% 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; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 ($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 $449 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 66 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y ago; this cycle's ask is 4383% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 32% 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 $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.49% ✓
• Cap rate: 11.46%
• Cash-on-cash: 18.45%
• DSCR: 1.82
• GRM: 3.4

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: 4.4%
• Equity multiple: 1.16×
• Total profit: $2,912
• Equity at exit: $9,692

10-year hold

• IRR: 8.2%
• Equity multiple: 1.47×
• Total profit: $8,642
• Equity at exit: $5,620

Cash invested: $18,200 (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: 3.4×

Monthly cashflow live

• Estimated rent: $1,616 high
• Mortgage (P&I): −$341
• Tax from tax record: −$106 /mo · $1,275/yr
• Insurance: −$27
• HOA: −$523
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $280

Break-even live

Break-even rent $1,262

Max offer price $65,000

Occupancy floor 78%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 24 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	0.11mi
3260 Hi St Unit B Lake Worth Beach, FL	1.0	1.0	400	$1,700	$4.25	24d	1	0.46mi
3300 Boutwell Rd Lake Worth Beach, FL	1.0–2.0	1.0–2.0	765	$1,870	$2.44	24d	1	0.62mi
3017 Buckley Ave Lake Worth, FL	2.0	1.0	720	$2,200	$3.06	24d	1	0.76mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,722	$2.51	1d	5	0.77mi
1755 Forest Hill Blvd Lake Clarke Shores, FL	1.0	1.0	662	$1,595	$2.41	7d	1	0.87mi
1765 16th Ct N Lake Worth Beach, FL	—	1.0	450	$1,700	$3.78	24d	1	0.92mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,055	$2.13	1d	14	0.95mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,550	$1.82	24d	2	1.00mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,650	$2.00	24d	3	1.01mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	22d	1	1.05mi
2571 Lake Worth Rd Lake Worth, FL	1.0–2.0	1.0–2.0	750	$1,378	$1.84	1d	2	1.09mi
300 Bonnie Blvd #144 Palm Springs, FL	1.0	1.0	702	$1,350	$1.92	24d	1	1.10mi
2220 Lake Worth Rd Lake Worth, FL	1.0	1.0	700	$1,779	$2.54	22d	1	1.17mi
3654 Coconut Rd Palm Springs, FL	1.0	1.0	600	$1,500	$2.50	24d	1	1.26mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,450	$2.64	24d	1	1.28mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,375	$2.50	22d	1	1.28mi
1201 N E St Unit 2 Lake Worth Beach, FL	1.0	1.0	600	$1,500	$2.50	24d	1	1.32mi
3901 Lakewood Rd Unit A Lake Worth Beach, FL	2.0	1.0	704	$2,000	$2.84	24d	1	1.34mi
3874 7th Ave N Unit 3878 Lake Worth Beach, FL	1.0	1.0	528	$1,600	$3.03	24d	1	1.43mi
123 Erie St Apt 10 Lake Worth, FL	1.0	1.0	600	$1,325	$2.21	24d	1	1.44mi
136 Akron St Unit A1 Lake Worth Beach, FL	1.0	1.0	599	$2,075	$3.46	24d	1	1.45mi
136 Akron St Apt B2 Lake Worth Beach, FL	1.0	1.0	599	$2,175	$3.63	24d	1	1.45mi
1601 N Dixie Hwy Lake Worth Beach, FL	1.0–2.0	1.0–2.0	831	$1,785	$2.15	1d	7	1.50mi

HOA detail condo

• Monthly dues: $523 · $6,276/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $65,000 Active 66 DOM
2. 2026-06-17
   days on market $65,000 Active 65 DOM
3. 2026-06-16
   days on market $65,000 Active 64 DOM
4. 2026-06-15
   days on market $65,000 Active 63 DOM
5. 2026-06-13
   days on market $65,000 Active 61 DOM
6. 2026-06-09
   statusdays on market $65,000 Active 57 DOM
7. 2026-04-29
   status Pending
8. 2026-04-10
   listed $1,450
9. 2026-03-31
   historical $1,450
10. 2026-03-05
    price $1,450
11. 2026-03-04
    price $65,000
12. 2026-03-04
    listed $65,000 Active
13. 2025-12-10
    price $1,450
14. 2025-11-18
    historical $1,550
15. 2025-11-18
    listed $1,550
16. 2025-10-27
    price $1,550
17. 2025-10-09
    listed $1,600
18. 2023-05-26
    soldstatus $80,000
19. 2023-05-22
    soldstatus $80,000 Closed 299-char remark

    Show marketing remark (299 chars)

    THIS IS A 55+ COMMUNITYSuper cute and on the lake! Enjoy your morning coffee or your evening glass of wine on your patio overlooking the lake. Wood laminate and tile floors, some updates to the bathroom, walk in closet in the bedroom, roll down shutters on patio and awning over living room window.

20. 2023-04-19
    historical Active Under Contract 299-char remark

    Show marketing remark (299 chars)

    THIS IS A 55+ COMMUNITYSuper cute and on the lake! Enjoy your morning coffee or your evening glass of wine on your patio overlooking the lake. Wood laminate and tile floors, some updates to the bathroom, walk in closet in the bedroom, roll down shutters on patio and awning over living room window.

21. 2023-04-07
    price $85,900 299-char remark

    Show marketing remark (299 chars)

    THIS IS A 55+ COMMUNITYSuper cute and on the lake! Enjoy your morning coffee or your evening glass of wine on your patio overlooking the lake. Wood laminate and tile floors, some updates to the bathroom, walk in closet in the bedroom, roll down shutters on patio and awning over living room window.

22. 2023-03-22
    status Active 299-char remark

    Show marketing remark (299 chars)

    THIS IS A 55+ COMMUNITYSuper cute and on the lake! Enjoy your morning coffee or your evening glass of wine on your patio overlooking the lake. Wood laminate and tile floors, some updates to the bathroom, walk in closet in the bedroom, roll down shutters on patio and awning over living room window.

23. 2023-03-19
    historical Active Under Contract 299-char remark

    Show marketing remark (299 chars)

    THIS IS A 55+ COMMUNITYSuper cute and on the lake! Enjoy your morning coffee or your evening glass of wine on your patio overlooking the lake. Wood laminate and tile floors, some updates to the bathroom, walk in closet in the bedroom, roll down shutters on patio and awning over living room window.

24. 2023-03-07
    listed $89,900 Active 299-char remark

    Show marketing remark (299 chars)

    THIS IS A 55+ COMMUNITYSuper cute and on the lake! Enjoy your morning coffee or your evening glass of wine on your patio overlooking the lake. Wood laminate and tile floors, some updates to the bathroom, walk in closet in the bedroom, roll down shutters on patio and awning over living room window.

25. 2017-03-27
    soldstatus $46,000
26. 2017-03-23
    soldstatus $46,000 Closed 403-char remark

    Show marketing remark (403 chars)

    Beautiful 1 bedroom unit on the first floor with a gorgeous view of the lake from your living room, bedroom and patio. Great view of the east pool and BBQ area. Wood laminate floors, new bathroom, new kitchen counters, new glass backsplash in kitchen, new hot water heater in 2016 and all freshly painted. This beautiful unit is move in ready and completely turnkey, just bring your clothes and move it.

27. 2017-02-24
    historical Contingent 403-char remark

    Show marketing remark (403 chars)

    Beautiful 1 bedroom unit on the first floor with a gorgeous view of the lake from your living room, bedroom and patio. Great view of the east pool and BBQ area. Wood laminate floors, new bathroom, new kitchen counters, new glass backsplash in kitchen, new hot water heater in 2016 and all freshly painted. This beautiful unit is move in ready and completely turnkey, just bring your clothes and move it.

28. 2017-02-14
    price $54,900 403-char remark

    Show marketing remark (403 chars)

    Beautiful 1 bedroom unit on the first floor with a gorgeous view of the lake from your living room, bedroom and patio. Great view of the east pool and BBQ area. Wood laminate floors, new bathroom, new kitchen counters, new glass backsplash in kitchen, new hot water heater in 2016 and all freshly painted. This beautiful unit is move in ready and completely turnkey, just bring your clothes and move it.

29. 2017-01-24
    listed $56,900 Active 403-char remark

    Show marketing remark (403 chars)

    Beautiful 1 bedroom unit on the first floor with a gorgeous view of the lake from your living room, bedroom and patio. Great view of the east pool and BBQ area. Wood laminate floors, new bathroom, new kitchen counters, new glass backsplash in kitchen, new hot water heater in 2016 and all freshly painted. This beautiful unit is move in ready and completely turnkey, just bring your clothes and move it.

30. 2000-01-18
    soldstatus $26,000
31. 1991-02-19
    soldstatus $35,000

ⓘ 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: $1,275 · $106/mo
• Projected year-2 tax: $1,275 · $106/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: $19,398
• − Mortgage interest: −$3,641
• − Property taxes: −$1,275
• − Insurance: −$325
• − Repairs & maintenance: −$1,552
• − Management: −$1,552
• − HOA: −$6,276
• − Depreciation: −$1,891
• Taxable income: $2,886
• Est. tax owed @ 24.0%: −$693
• After-tax cash flow: $2,665/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

-95.9% since first listed

25 events — show timeline

• 2026-04-29 Pending — Beaches MLS
• 2026-04-10 Listed for Rent $1,450 RMLSFL
• 2026-03-31 Rental Removed $1,450 RMLSFL
• 2026-03-05 Price Changed $1,450 RMLSFL
• 2026-03-04 Price Changed $65,000 RMLSFL
• 2026-03-04 Listed $65,000 Beaches MLS
• 2025-12-10 Price Changed $1,450 RMLSFL
• 2025-11-18 Rental Removed $1,550 GFLMLS
• 2025-11-18 Listed for Rent $1,550 GFLMLS
• 2025-10-27 Price Changed $1,550 RMLSFL
• 2025-10-09 Listed for Rent $1,600 RMLSFL
• 2023-05-26 Sold (Public Records) $80,000 Public Records
• 2023-05-22 Sold (MLS) $80,000 Beaches MLS
• 2023-04-19 Contingent — Beaches MLS
• 2023-04-07 Price Changed $85,900 Beaches MLS
• 2023-03-22 Relisted — Beaches MLS
• 2023-03-19 Contingent — Beaches MLS
• 2023-03-07 Listed $89,900 Beaches MLS
• 2017-03-27 Sold (Public Records) $46,000 Public Records
• 2017-03-23 Sold (MLS) $46,000 Beaches MLS
• 2017-02-24 Contingent — Beaches MLS
• 2017-02-14 Price Changed $54,900 Beaches MLS
• 2017-01-24 Listed $56,900 Beaches MLS
• 2000-01-18 Sold (Public Records) $26,000 Public Records
• 1991-02-19 Sold (Public Records) $35,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $1,275 · -15.6% YoY. Source: county tax records.