1012 Green Pine Blvd Unit H2 · West Palm Beach, FL 33409

$235,000

3 bd · 2.0 ba · 1,468 sqft · Condo public records · 159 Days on market

Built 1984 $750/mo HOA · 23% of rent

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Why this score? — see what drove the C 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 +22.6/30.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to beautifully maintained Palm Club Village! This rarely available 3-bedroom, 2-bathroom condominium offers 1,468 square feet of comfortable living space. The unit includes an attic with a pull-down ladder, providing convenient additional storage. Only 4 units of this size in Palm Club Village I ! FULLY PAID assessment for community improvements including: new roof, gutters, waterproofing and fresh exterior paint. The residence has pride of ownership & includes 2024 water heater & 2013 AC. Resort style living: clubhouse, heated pool, basketball, tennis courts, peaceful lake views & more. HOA fees include basic cable, water, sewer, lawn care and exterior maintenanc

Key facts

• $750 HOA
• Community pool
• Built 1984

Property features AI

Finance

• Financial info: Pets allowed (size limit; restrictions possible)
• HOA & community: HOA with monthly fee; Association amenities cover cable TV, insurance, grounds maintenance, security, trash, water and common areas; Association amenities: clubhouse, jogging path, parking, pool, tennis courts, community room

Exterior

• Parking: Assigned parking; Guest parking
• Security: Gated community with guard
• Utilities: Public water; Public sewer; Cable available; Sewer available; Water available
• Home design: Condominium; Resale property; Two-story building; North-facing
• Construction: Block/CBS construction; Other-style roof
• Exterior features: Waterfront property; Community amenities include clubhouse, jogging path, pool, tennis courts and community room

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: No notable interior features listed
• Laundry & utility: Inside laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $207k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.8% in West Palm Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#75 in FL, #1,255 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, crime 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 soft (-0.1%/yr); 193 active listings in the ZIP; 18 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).
• At $3,203/mo this rent would consume 57% of the median local household income ($67k/yr) (locally 1333% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 159 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $235k implies a 295% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 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. 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.36% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.26%
• DSCR: 1.32
• GRM: 6.1

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: -9.4%
• Equity multiple: 0.67×
• Total profit: $-21,742
• Equity at exit: $35,039

10-year hold

• IRR: -6.0%
• Equity multiple: 0.68×
• Total profit: $-21,083
• Equity at exit: $20,319

Cash invested: $65,800 (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 33409

• Home prices YoY: -25.6%
• Rents YoY: -0.1%
• Active inventory: 193
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $3,203 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$52 /mo · $622/yr
• Insurance: −$98
• HOA: −$750
• Vacancy / Maint / Mgmt: −$673
• Net cashflow: $398

Break-even live

Break-even rent $2,699

Max offer price $235,000

Occupancy floor 83%

Sensitivity live

Price	-10% $531	-5% $465	+0% $398	+5% $332	+10% $265
Rent	-10% $145	-5% $272	+0% $398	+5% $525	+10% $651
Rate	-1.0pp $517	-0.5pp $458	base $398	+0.5pp $337	+1.0pp $275

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1211 Pine Sage Cir West Palm Beach, FL	3.0	2.0	1367	$3,200	$2.34	6d	1	0.23mi
4543 Tara Cove Way West Palm Beach, FL	3.0	2.5	1807	$3,000	$1.66	0d	1	0.27mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	25d	1	0.33mi
4567 Brook Dr West Palm Beach, FL	3.0	2.0	1528	$3,000	$1.96	25d	1	0.59mi
4385 Willow Brook Cir West Palm Beach, FL	3.0	2.0	1468	$3,200	$2.18	23d	1	0.76mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$3,108	$2.54	18d	60	0.83mi
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	25d	1	0.92mi
2820 Tennis Club Dr #408 West Palm Beach, FL	3.0	2.0	1610	$3,800	$2.36	25d	1	0.96mi
3810 Rowena Cir West Palm Beach, FL	2.0	2.0	1505	$3,150	$2.09	15d	1	1.10mi
3810 Rowena Cir West Palm Beach, FL	2.0	2.0	1505	$3,000	$1.99	8d	1	1.10mi
2480 Presidential Way #902 West Palm Beach, FL	2.0	2.0	1855	$4,650	$2.51	6d	1	1.25mi
2480 Presidential Way #1903 West Palm Beach, FL	2.0	2.0	1855	$4,650	$2.51	25d	1	1.25mi
2450 Presidential Way #7 West Palm Beach, FL	2.0	2.0	1855	$4,700	$2.53	25d	1	1.28mi
2450 Presidential Way #7 West Palm Beach, FL	2.0	2.0	1855	$4,700	$2.53	3d	1	1.28mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	25d	1	1.33mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	17d	1	1.42mi
149 Stratford N West Palm Beach, FL	2.0	2.0	978	$1,650	$1.69	25d	1	1.45mi
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	25d	1	1.46mi

HOA detail condo

• Monthly dues: $750 · $9,000/yr
• Likely covers: watersewercablelandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-21
   days on market $235,000 Active 159 DOM
2. 2026-06-18
   days on market $235,000 Active 156 DOM
3. 2026-06-17
   days on market $235,000 Active 155 DOM
4. 2026-06-16
   days on market $235,000 Active 154 DOM
5. 2026-06-15
   days on market $235,000 Active 153 DOM
6. 2026-06-13
   days on market $235,000 Active 151 DOM
7. 2026-06-09
   days on market $235,000 Active 147 DOM
8. 2026-06-07
   days on market $235,000 Active 145 DOM
9. 2026-06-04
   days on market $235,000 Active 142 DOM
10. 2026-06-03
    days on market $235,000 Active 141 DOM
11. 2026-06-01
    days on market $235,000 Active 139 DOM
12. 2026-05-31
    days on market $235,000 Active 138 DOM
13. 2026-01-13
    listed $235,000 Active
14. 1990-09-27
    soldstatus $59,500

ⓘ 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: $622 · $52/mo
• Projected year-2 tax: $1,950 · $163/mo
• Expected delta: +$1,329/yr (+$111/mo · 213.7%)

ⓘ 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 · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,436
• − Mortgage interest: −$13,164
• − Property taxes: −$622
• − Insurance: −$1,175
• − Repairs & maintenance: −$3,075
• − Management: −$3,075
• − HOA: −$9,000
• − Depreciation: −$6,836
• Taxable income: $1,489
• Est. tax owed @ 24.0%: −$357
• After-tax cash flow: $4,422/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 — West Palm Beach

• Score: 82/100
• State rank: #75
• US rank: #1255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,489
• Household income: $67,073
• Rent vs Own: 55.3% rent · 44.7% own
• Severe rent burden: 1333.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 36% Black 31% White 27% Two or more races 21% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 8% Dominican 1%
• Common ancestry: Hispanic 8% Romanian 1% Lithuanian 1%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 55% English-only · Spanish 30% 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: ▼ -128.54%
• Current HPI: 374.2506
• Rent YoY: ▼ -0.15%
• 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

+295.0% since first listed

2 events — show timeline

• 2026-01-13 Listed $235,000 Beaches MLS
• 1990-09-27 Sold (Public Records) $59,500 Public Records

Property tax history

-2.4%/yr

Latest (2025): $622 · +4.8% YoY. Source: county tax records.