2534 Garden Dr S #203 · Lake Clarke Shores, FL 33461

$55,000

2 bd · 1.0 ba · 894 sqft · Condo public records · 31 Days on market

Built 1968 $814/mo HOA · 43% 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 +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Easy living without breaking the bank. Active living at it's best and a quick walk to all the amenities. Very clean and open condo with 2 bedroom and one bath. Huge enclosed balcony with roll down storm shutters. New A/C and air handler. Tile floors in the living areas and carpet in the bedrooms. Community offers shuttle service, two heated pools, billiards, library, dance/bingo hall, security and mangers on site.

Key facts

• New electrical panel
• $814 HOA
• Parking

Tags

• UPDATED TILE FLOORING
• NEW ELECTRICAL PANEL
• FULLY RENOVATED BATHROOM
• COVERED ENCLOSED BALCONY
• SERENE GARDEN SETTING
• RESORT-STYLE AMENITIES

Property features AI

Finance

• HOA & community: Association with monthly fee (covers cable TV, insurance, internet, grounds maintenance, sewer, water, and common areas); Community amenities include pool, fitness center, clubhouse, billiard room, sauna, shuffleboard court, bocce ball, putting green, library, workshop area, community room, manager on site, courtesy bus, parking, sidewalks, street lights, trash chute, and internet included; Senior community; Number of units in community: 855

Exterior

• Parking: Assigned parking and guest parking (1 total parking space)
• Utilities: Public water; Public sewer; Circuit breaker electric service; Cable available; Electricity available; Sewer available; Water available
• Home design: Condominium; One level; Faces west; Resale property
• Construction: CBS construction; Other roof
• Exterior features: Asphalt road access; Not waterfront

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Blinds and sliding windows; Unfurnished
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $55k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 81/100 on livability (#98 in FL, #1,445 nationally) — a professional / high-income tenant draw. 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: Meadow Park Elementary School (math 64% / reading 73%, grade B+, #409 of 2,144 statewide, top 20%, 809 students, 65% FRL); Conniston Middle School (math 35% / reading 38%, grade F, #405 of 571 statewide, top 72%, 1,075 students, 74% FRL); Forest Hill Community High School (math 20% / reading 41%, grade F, #434 of 667 statewide, top 66%, 2,407 students, 66% FRL) — zoned schools average 68% FRL vs 52% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.5%/yr); 279 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 37% 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 $380 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 31 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,350 (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. Built in 1968 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 3.46% ✓
• Cap rate: 12.52%
• Cash-on-cash: 22.25%
• DSCR: 1.99
• GRM: 2.4

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: 7.6%
• Equity multiple: 1.28×
• Total profit: $4,242
• Equity at exit: $8,201

10-year hold

• IRR: 9.6%
• Equity multiple: 1.50×
• Total profit: $7,760
• Equity at exit: $4,755

Cash invested: $15,400 (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: 279
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,904 high
• Mortgage (P&I): −$288
• Tax from tax record: −$93 /mo · $1,121/yr
• Insurance: −$23
• HOA: −$814
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $286

Break-even live

Break-even rent $1,543

Max offer price $55,000

Occupancy floor 80%

Sensitivity live

Price	-10% $317	-5% $301	+0% $286	+5% $270	+10% $254
Rent	-10% $135	-5% $210	+0% $286	+5% $361	+10% $436
Rate	-1.0pp $313	-0.5pp $300	base $286	+0.5pp $271	+1.0pp $257

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 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	26d	1	0.04mi
2791 S Florida Mango Rd Lake Worth, FL	2.0	2.0	1100	$1,995	$1.81	23d	1	0.14mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	17d	1	0.15mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	10d	1	0.15mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	6d	1	0.16mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	4d	1	0.16mi
2724 Garden Dr S #207 Lake Worth, FL	1.0	1.0	744	$1,850	$2.49	1d	1	0.20mi
2721 Garden Dr N #105 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	23d	1	0.24mi
2856 Garden Dr S #112 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	26d	1	0.32mi
2508 10th Ave N Lake Worth Beach, FL	3.0	2.0	1025	$2,557	$2.49	26d	1	0.36mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,746	$2.18	16d	1	0.36mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,672	$2.09	13d	1	0.36mi
910 Rudolf Rd Lake Worth, FL	3.0	1.0	1000	$2,500	$2.50	26d	1	0.42mi
2901 10th Ave N Palm Springs, FL	2.0	1.0	900	$1,795	$1.99	26d	1	0.48mi
3386 Rudolph Rd Lake Worth Beach, FL	2.0	1.0	840	$2,100	$2.50	5d	1	0.49mi
3300 Boutwell Rd Lake Worth Beach, FL	1.0–2.0	1.0–2.0	765	$2,720	$3.56	26d	1	0.52mi
3440 Rudolph Rd Unit 3440-03 Lake Worth Beach, FL	2.0	2.0	935	$2,100	$2.25	21d	1	0.56mi
3431 Helena Dr Unit 3481-11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	26d	1	0.56mi
3431 Helena Dr Lake Worth, FL	2.0	2.0	935	$2,075	$2.22	16d	2	0.56mi
100 Rex Ave Palm Springs, FL	2.0	2.0	1000	$1,850	$1.85	26d	3	0.57mi
3481 Helena Dr Unit 11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	26d	1	0.58mi
220 Henthorne Dr Palm Springs, FL	1.0–2.0	1.5–2.0	900	$1,850	$2.06	26d	4	0.67mi
3031 French Ave Lake Worth, FL	3.0	1.0	840	$2,400	$2.86	10d	1	0.68mi
3017 Buckley Ave Lake Worth, FL	2.0	1.0	720	$2,200	$3.06	26d	1	0.72mi
1742 W Terrace Dr Lake Worth Beach, FL	2.0	1.5	1000	$2,700	$2.70	26d	1	0.72mi
124 Abaco Dr Palm Springs, FL	3.0	2.0	988	$2,900	$2.94	17d	1	0.73mi
1065 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,100	$1.91	5d	1	0.77mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,995	$2.90	0d	4	0.79mi
1020 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,200	$2.00	24d	1	0.83mi
1016 Manor Dr Unit 5c Palm Springs, FL	2.0	2.0	1098	$2,256	$2.05	26d	1	0.84mi
1755 Forest Hill Blvd Lake Clarke Shores, FL	1.0	1.0	662	$1,595	$2.41	10d	1	0.91mi
1719 15th Ave N Lake Worth Beach, FL	3.0	2.0	1014	$3,150	$3.11	1d	1	0.96mi
1802 Waterview Cir #1802 Palm Springs, FL	2.0	2.0	951	$1,925	$2.02	26d	1	0.99mi
2571 Lake Worth Rd Lake Worth, FL	1.0–2.0	1.0–2.0	750	$1,657	$2.21	4d	2	1.03mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,595	$2.69	1d	12	1.04mi
225 Bonnie Blvd #116 Palm Springs, FL	2.0	2.0	988	$1,850	$1.87	21d	1	1.07mi
225 Bonnie Blvd Palm Springs, FL	1.0–2.0	1.5–2.0	944	$1,850	$1.96	26d	2	1.07mi
2220 Lake Worth Rd Lake Worth, FL	1.0	1.0	700	$1,779	$2.54	24d	1	1.09mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,750	$2.06	26d	2	1.09mi
247 Cypress Ln Unit 246-C12 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	7d	1	1.10mi

HOA detail condo

• Monthly dues: $814 · $9,768/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-22
   days on market $55,000 Active 31 DOM
2. 2026-06-21
   days on market $55,000 Active 30 DOM
3. 2026-06-18
   days on market $55,000 Active 27 DOM
4. 2026-06-17
   days on market $55,000 Active 26 DOM
5. 2026-06-16
   days on market $55,000 Active 25 DOM
6. 2026-06-15
   days on market $55,000 Active 24 DOM
7. 2026-06-13
   days on market $55,000 Active 22 DOM
8. 2026-06-09
   days on market $55,000 Active 18 DOM
9. 2026-06-08
   days on market $55,000 Active 17 DOM
10. 2026-06-07
    days on market $55,000 Active 16 DOM
11. 2026-06-04
    days on market $55,000 Active 13 DOM
12. 2026-06-03
    days on market $55,000 Active 12 DOM
13. 2026-06-02
    days on market $55,000 Active 11 DOM
14. 2026-06-01
    days on market $55,000 Active 10 DOM
15. 2026-05-31
    days on market $55,000 Active 9 DOM
16. 2026-05-22
    listed $55,000 Active
17. 2019-05-02
    soldstatus $49,900
18. 2019-04-29
    soldstatus $49,900 Closed 417-char remark

    Show marketing remark (417 chars)

    Easy living without breaking the bank. Active living at it's best and a quick walk to all the amenities. Very clean and open condo with 2 bedroom and one bath. Huge enclosed balcony with roll down storm shutters. New A/C and air handler. Tile floors in the living areas and carpet in the bedrooms. Community offers shuttle service, two heated pools, billiards, library, dance/bingo hall, security and mangers on site.

19. 2019-04-15
    status Pending 417-char remark

    Show marketing remark (417 chars)

    Easy living without breaking the bank. Active living at it's best and a quick walk to all the amenities. Very clean and open condo with 2 bedroom and one bath. Huge enclosed balcony with roll down storm shutters. New A/C and air handler. Tile floors in the living areas and carpet in the bedrooms. Community offers shuttle service, two heated pools, billiards, library, dance/bingo hall, security and mangers on site.

20. 2019-04-09
    listed $49,900 Active 417-char remark

    Show marketing remark (417 chars)

    Easy living without breaking the bank. Active living at it's best and a quick walk to all the amenities. Very clean and open condo with 2 bedroom and one bath. Huge enclosed balcony with roll down storm shutters. New A/C and air handler. Tile floors in the living areas and carpet in the bedrooms. Community offers shuttle service, two heated pools, billiards, library, dance/bingo hall, security and mangers on site.

21. 2014-04-02
    status Pending 447-char remark

    Show marketing remark (447 chars)

    Great value for the money * 2/1 second-floor condo * TRUE 2-bedroom, not covertible model * exceptionally long porch with tiled floor, pull-down shutters, and lots of storage * cute eat-in kitchen with dishwasher, tiled backsplash & pass-thru window to dining area * large pantry * Lake Clarke Gardens is a very active senior community * pools, clubhouse, theater with shows, bingo, putting green, picnic areas by the lake, etc.

22. 2014-04-01
    soldstatus $38,000
23. 2014-03-25
    soldstatus $38,000 Closed 447-char remark

    Show marketing remark (447 chars)

    Great value for the money * 2/1 second-floor condo * TRUE 2-bedroom, not covertible model * exceptionally long porch with tiled floor, pull-down shutters, and lots of storage * cute eat-in kitchen with dishwasher, tiled backsplash & pass-thru window to dining area * large pantry * Lake Clarke Gardens is a very active senior community * pools, clubhouse, theater with shows, bingo, putting green, picnic areas by the lake, etc.

24. 2014-03-06
    status Active 447-char remark

    Show marketing remark (447 chars)

    Great value for the money * 2/1 second-floor condo * TRUE 2-bedroom, not covertible model * exceptionally long porch with tiled floor, pull-down shutters, and lots of storage * cute eat-in kitchen with dishwasher, tiled backsplash & pass-thru window to dining area * large pantry * Lake Clarke Gardens is a very active senior community * pools, clubhouse, theater with shows, bingo, putting green, picnic areas by the lake, etc.

25. 2014-02-22
    historical Contingent 447-char remark

    Show marketing remark (447 chars)

    Great value for the money * 2/1 second-floor condo * TRUE 2-bedroom, not covertible model * exceptionally long porch with tiled floor, pull-down shutters, and lots of storage * cute eat-in kitchen with dishwasher, tiled backsplash & pass-thru window to dining area * large pantry * Lake Clarke Gardens is a very active senior community * pools, clubhouse, theater with shows, bingo, putting green, picnic areas by the lake, etc.

26. 2014-01-09
    listed $39,900 Active 447-char remark

    Show marketing remark (447 chars)

    Great value for the money * 2/1 second-floor condo * TRUE 2-bedroom, not covertible model * exceptionally long porch with tiled floor, pull-down shutters, and lots of storage * cute eat-in kitchen with dishwasher, tiled backsplash & pass-thru window to dining area * large pantry * Lake Clarke Gardens is a very active senior community * pools, clubhouse, theater with shows, bingo, putting green, picnic areas by the lake, etc.

27. 1989-02-13
    soldstatus $39,000

ⓘ 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: $1,121 · $93/mo
• Projected year-2 tax: $1,121 · $93/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 9/10 Extreme 6 d/yr ≥105°F today · 22 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: $22,851
• − Mortgage interest: −$3,081
• − Property taxes: −$1,121
• − Insurance: −$275
• − Repairs & maintenance: −$1,828
• − Management: −$1,828
• − HOA: −$9,768
• − Depreciation: −$1,600
• Taxable income: $3,350
• Est. tax owed @ 24.0%: −$804
• After-tax cash flow: $2,623/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 — Lake Clarke Shores

• Score: 81/100
• State rank: #98
• US rank: #1445

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): 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

+41.0% since first listed

12 events — show timeline

• 2026-05-22 Listed $55,000 Beaches MLS
• 2019-05-02 Sold (Public Records) $49,900 Public Records
• 2019-04-29 Sold (MLS) $49,900 Beaches MLS
• 2019-04-15 Pending — Beaches MLS
• 2019-04-09 Listed $49,900 Beaches MLS
• 2014-04-02 Pending — Beaches MLS
• 2014-04-01 Sold (Public Records) $38,000 Public Records
• 2014-03-25 Sold (MLS) $38,000 Beaches MLS
• 2014-03-06 Relisted — Beaches MLS
• 2014-02-22 Contingent — Beaches MLS
• 2014-01-09 Listed $39,900 Beaches MLS
• 1989-02-13 Sold (Public Records) $39,000 Public Records

Property tax history

+11.2%/yr

Latest (2025): $1,121 · -21.8% YoY. Source: county tax records.