6226 S Joshua Ln · Atlantis, FL 33462

$23,000

2 bd · 2.0 ba · 1,200 sqft · Manufactured · 228 Days on market

Built 1984 $1347/mo HOA · 57% of rent

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

1984 40 x 24 Dble wide manufactured home w/ carport is ready for you! This well maintained 2 BR/2BA has an open floorplan w/ a bay window to let the natural light flow in! The extra surprise is the spacious 20' x 11' Florida rm w/ a/c that sits on a concrete foundation. This bonus area can be anything-lanai, exercise rm or den! A/C 2021, Microwave 2021, Gas Stove w/ 2024 tank, 2018 Water htr. , orig. roof has been cleaned & sealed annually. This home comes w/ 2 storage sheds PLUS an extra large shed w/ a/c & lock! Maralago Cay comm. is very active. HOA incl. lawn care, front sprinkler irrigation, clubhouse, fitness ctr. , tennis, pools, game rm, library, bocce ball, shuffleboard

Key facts

• Spacious florida rm
• Extra large shed
• Open floorplan

Tags

• OPEN FLOORPLAN
• BAY WINDOW
• SPACIOUS FLORIDA RM
• CONCRETE FOUNDATION
• EXTRA LARGE SHED
• BOAT RV PARKING

Property features AI

Finance

• Other: Located in a senior community; Property faces west
• Financial info: Pets allowed with restrictions (breed restrictions and number limit)
• HOA & community: Community association with clubhouse, fitness center, game room, laundry, pool, storage, tennis courts, bocce ball, and library; Monthly HOA fees

Exterior

• Parking: Attached carport (covered) with 1 space; 1 open parking space
• Security: Gated - no guard
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Water available; Sewer available
• Home design: Manufactured home; Single-story
• Construction: Modular construction; Metal roof
• Exterior features: No waterfront; Gated community (no guard)

Interior

• Kitchen: Dishwasher; Disposal; Gas range; Microwave; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Walk-in closets; Blinds; Bay window(s)
• Laundry & utility: Laundry closet with washer hookup (inside)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $23k.

Deal economics

• At list price, monthly cash flow is $359 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $23k).
• Recommended offer: $20k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#390 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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: Starlight Cove Elementary School (math 40% / reading 31%, grade F, #1,684 of 2,144 statewide, top 79%, 737 students, 77% FRL); Tradewinds Middle School (math 25% / reading 35%, grade F, #468 of 571 statewide, top 82%, 912 students, 74% FRL); Santaluces Community High (math 22% / reading 39%, grade F, #434 of 667 statewide, top 66%, 2,675 students, 61% FRL) — zoned schools average 71% FRL vs 52% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 50% district-wide (-18 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.1%/yr); 383 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 38% 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 $159 of loan paydown is wiped out by about $690 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 $6k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 228 days — a 12% lower offer ($20k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $20k (47%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 57% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $20,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 228 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 10.26% ✓
• Cap rate: 25.00%
• Cash-on-cash: 66.82%
• DSCR: 3.97
• GRM: 0.8

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: 71.8%
• Equity multiple: 4.51×
• Total profit: $22,593
• Equity at exit: $3,429

10-year hold

• IRR: 77.1%
• Equity multiple: 10.87×
• Total profit: $63,570
• Equity at exit: $1,989

Cash invested: $6,440 (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: 0.8×

Monthly cashflow live

• Estimated rent: $2,360 high
• Mortgage (P&I): −$121
• Tax est. 1.5%: −$29 /mo · $345/yr
• Insurance: −$10
• HOA: −$1,347
• Vacancy / Maint / Mgmt: −$496
• Net cashflow: $359

Break-even live

Break-even rent $1,906

Max offer price $23,000

Occupancy floor 80%

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: $5,750
• Closing costs: $690
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6040 Lace Wood Cir Lake Worth, FL	3.0	2.0	1326	$2,799	$2.11	24d	1	0.26mi
6411 Birch Ln Lake Worth, FL	3.0	2.0	1200	$1,800	$1.50	24d	1	0.36mi
580 Tallulah Rd Lake Worth, FL	2.0	1.0	750	$2,500	$3.33	22d	1	0.52mi
3883 Island Club Cir W Lake Worth, FL	3.0	2.5	1308	$2,400	$1.83	17d	1	0.53mi
423 Pine Tree Ct #23 Lake Worth, FL	2.0	2.0	1222	$2,300	$1.88	22d	1	0.56mi
4350 Peregrine Way Lake Worth, FL	1.0–3.0	1.0–2.0	1025	$2,704	$2.64	2d	18	0.66mi
6511 Seminole Dr Unit 2 Atlantis, FL	2.0	1.0	845	$2,150	$2.54	5d	1	0.66mi
6909 Blue Skies Dr Lake Worth, FL	2.0	2.5	1293	$2,600	$2.01	24d	1	0.87mi
5056 Lantana Rd #4302 Lake Worth, FL	2.0	2.0	979	$2,295	$2.34	7d	1	0.88mi
4951 Mallory St Unit 4951 Greenacres, FL	3.0	2.5	1309	$2,700	$2.06	22d	1	0.90mi
5048 Lantana Rd #5112 Lake Worth, FL	3.0	2.0	1115	$2,200	$1.97	7d	1	0.93mi
5064 Lantana Rd #6203 Lake Worth, FL	2.0	2.0	929	$2,100	$2.26	24d	1	0.94mi
4947 Grinnell St Lake Worth, FL	3.0	2.5	1309	$2,850	$2.18	24d	1	0.96mi
7132 Colony Club Dr Lake Worth, FL	1.0–3.0	1.0–2.0	1087	$2,510	$2.31	2d	14	0.98mi
4725 Via Bari Lake Worth, FL	1.0–3.0	1.0–2.0	1150	$2,290	$1.99	3d	10	1.03mi
7398 Willow Springs Cir E Boynton Beach, FL	3.0	2.0	1390	$2,861	$2.06	5d	1	1.20mi
5864 Strawberry Lakes Cir Lake Worth, FL	3.0	2.0	1087	$2,825	$2.60	5d	1	1.37mi
6289 Lear Dr Lake Worth, FL	1.0–3.0	1.0–2.0	792	$1,975	$2.49	15d	2	1.41mi
6289 Lear Dr #203 Lake Worth, FL	3.0	2.0	1044	$2,200	$2.11	24d	1	1.42mi
4259 Wood Ride Unit E Boynton Beach, FL	2.0	2.0	1240	$2,350	$1.90	7d	1	1.45mi
712 Meadows Cir Boynton Beach, FL	2.0	2.0	921	$2,400	$2.61	24d	1	1.46mi
1106 Meadows Cir Boynton Beach, FL	2.0	2.0	900	$1,850	$2.06	3d	1	1.49mi
1106 Meadows Cir Boynton Beach, FL	2.0	2.0	900	$1,895	$2.11	22d	1	1.49mi
316 Meadows Cir #316 Boynton Beach, FL	2.0	2.0	921	$2,100	$2.28	2d	1	1.49mi
1120 Meadows Cir Unit 1120 Boynton Beach, FL	2.0	2.0	900	$1,980	$2.20	24d	1	1.49mi
1205 Meadows Cir Boynton Beach, FL	2.0	2.0	909	$1,900	$2.09	24d	1	1.49mi
1707 Meadows Cir W Unit W Boynton Beach, FL	1.0	1.0	704	$1,650	$2.34	3d	1	1.49mi
1617 Meadows Cir W Boynton Beach, FL	1.0	1.0	704	$1,700	$2.41	10d	1	1.49mi
6175 Reflections Blvd Lake Worth, FL	1.0–2.0	1.0–2.0	814	$2,307	$2.83	1d	15	1.50mi

HOA detail

• Monthly dues: $1,347 · $16,164/yr
• Likely covers: watergaslandscapingpool

Listing history 15 events

1. 2026-06-09
   days on market $23,000 Active 228 DOM
2. 2026-06-07
   days on market $23,000 Active 226 DOM
3. 2026-06-04
   days on market $23,000 Active 223 DOM
4. 2026-06-03
   days on market $23,000 Active 222 DOM
5. 2026-06-01
   days on market $23,000 Active 220 DOM
6. 2026-05-31
   days on market $23,000 Active 219 DOM
7. 2026-03-13
   price $23,000
8. 2026-02-19
   price $33,000
9. 2025-10-24
   listed $43,000 Active
10. 2025-10-22
    historical
11. 2025-09-28
    price $53,000
12. 2025-09-02
    price $63,000
13. 2025-04-21
    listed $68,000 Active
14. 2024-08-07
    historical
15. 2024-07-14
    listed $70,000 Active

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

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 · 27 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: $28,323
• − Mortgage interest: −$1,288
• − Property taxes: −$345
• − Insurance: −$115
• − Repairs & maintenance: −$2,266
• − Management: −$2,266
• − HOA: −$16,164
• − Depreciation: −$669
• Taxable income: $5,209
• Est. tax owed @ 24.0%: −$1,250
• After-tax cash flow: $3,053/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 — Atlantis

• Score: 71/100
• State rank: #390
• US rank: #6861

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ 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
• 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

-67.1% since first listed

9 events — show timeline

• 2026-03-13 Price Changed $23,000 Beaches MLS
• 2026-02-19 Price Changed $33,000 Beaches MLS
• 2025-10-24 Listed $43,000 Beaches MLS
• 2025-10-22 Listing Removed — Beaches MLS
• 2025-09-28 Price Changed $53,000 Beaches MLS
• 2025-09-02 Price Changed $63,000 Beaches MLS
• 2025-04-21 Listed $68,000 Beaches MLS
• 2024-08-07 Listing Removed — Beaches MLS
• 2024-07-14 Listed $70,000 Beaches MLS