3 Garden St Unit 203k · Tequesta, FL 33469

$264,900

2 bd · 2.0 ba · 886 sqft · Condo public records · 66 Days on market

Built 1970 $504/mo HOA · 19% 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 +12.4/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• Schools +4.3/10.0
• DSCR +3.7/10.0
• Rent growth +3.5/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful unit completely renovated. Kitchen with soft close doors, quartz countertops, additional cabinets, Bosch appliances, cypress ceiling with recessed lights. Kitchen has been opened to living area. Unit has continuous tile throughout. Enclosed porch with stackable sliders and plantation sliding shutters. Both bathrooms completely redone with quartz, countertops new tile and sliding glass shower doors. Both bedrooms have built in closets. AC system and hot water heater recently replaced. All baseboards and ceiling fans replaced. Roof replaced in 2025, no special assessments. Wonderful location within walking distance to coffee shops and restaurants. Clubhouse, 2 swimming pools, one he

Key facts

• Quartz countertops
• Cypress ceiling
• Bosch appliances

Tags

• QUARTZ COUNTERTOPS
• BOSCH APPLIANCES
• CYPRESS CEILING
• ENCLOSED PORCH
• PLANTATION SLIDING SHUTTERS
• SLIDING GLASS SHOWER DOORS

Property features AI

Finance

• Other: Senior community; Pets not allowed in community; 238 units in the community
• Financial info: Not a land-lease property
• HOA & community: Association: Tequesta Garden Condo Association; Quarterly HOA fees; HOA fee covers cable TV, insurance, grounds and structure maintenance, pest control, sewer, water, common areas, reserve funds, roof repairs, recreation facilities, pool service; Association amenities: clubhouse, heated pool, pool, shuffleboard court, putting green, game room, hobby room, kitchen facilities, library, manager on site, maintenance, car wash area, parking, storage, bike storage, sidewalks, street lights, park, recreation facilities

Exterior

• Parking: Assigned and guest open parking; Asphalt parking; Open parking spaces available; Approximately 300 total parking spaces
• Security: Smoke detectors
• Utilities: Public water; Public sewer; 200+ amp electric service; Cable available; Electricity available; Water connected
• Home design: Condominium; One level living; Entry level: 2; East-facing; Resale, updated/remodeled
• Construction: CBS construction; Shingle roof; Concrete perimeter foundation (permanent); Built in a 2-story building
• Exterior features: Glass-enclosed patio/porch; Private road frontage; Asphalt road surface; Private maintained road; Not waterfront

Interior

• Kitchen: Dishwasher; Disposal; Electric range / Electric cooktop; Microwave; Refrigerator; Freezer; ENERGY STAR qualified refrigerator; ENERGY STAR qualified freezer; Water purifier (owned)
• Bedrooms: 2 bedrooms (main level)
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating (electric, individual units); Central air conditioning; Ceiling fans; Humidity control
• Interior features: Built-in features; Walk-in closets; Closet cabinetry; Plantation shutters; Storm windows; Sliding windows
• Laundry & utility: Laundry in hall; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $265k.

Deal economics

• At list price, monthly cash flow is $-45 ($-538/yr) — negative.
• To cash-flow at today's rent, offer at most $257k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (0.6% below list).
• Recommended offer: $249k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.1% vs local median 2.5% in Tequesta — 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 62/100 on livability (#764 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: Limestone Creek Elementary School (math 74% / reading 74%, grade A, #249 of 2,144 statewide, top 12%, 946 students, 23% FRL); Jupiter Middle School (math 62% / reading 63%, grade B+, #116 of 571 statewide, top 21%, 1,384 students, 38% FRL); Jupiter High School (math 56% / reading 64%, grade C+, #106 of 667 statewide, top 16%, 3,087 students, 28% FRL) — zoned schools average 30% FRL vs 52% district-wide (22 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 66% at this address vs 50% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Palm Beach average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.9%/yr); 206 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 ($249k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $100k; list at $265k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $249,006 (6.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. 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?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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?
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: 0.99% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.72%
• DSCR: 0.97
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.88% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.42×
• Total profit: $-43,207
• Equity at exit: $39,497

10-year hold

• IRR: -6.1%
• Equity multiple: 0.59×
• Total profit: $-30,581
• Equity at exit: $22,904

Cash invested: $74,172 (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 33469

• Home prices YoY: -30.4%
• Rents YoY: 3.9%
• Active inventory: 206
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,633 high
• Mortgage (P&I): −$1,389
• Tax from tax record: −$121 /mo · $1,452/yr
• Insurance: −$110
• HOA: −$504
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $-45

Break-even live

Break-even rent $2,689

Max offer price $256,985

Occupancy floor 97%

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: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Westwood Ave Unit 103A Jupiter, FL	2.0	2.0	886	$2,350	$2.65	24d	1	0.04mi
4 Westwood Ave Unit 204 Jupiter, FL	2.0	2.0	980	$2,000	$2.04	14d	1	0.06mi
6 Garden St Unit 204P Jupiter, FL	2.0	2.0	886	$2,400	$2.71	24d	1	0.06mi
331 Tequesta Dr Tequesta, FL	2.0	2.0	793	$2,150	$2.71	18d	2	0.37mi
331 Tequesta Dr Tequesta, FL	2.0	2.0	717	$2,250	$3.14	4d	2	0.37mi
331 Tequesta Dr #118 Jupiter, FL	2.0	2.0	717	$2,500	$3.49	5d	1	0.37mi
413 N Cypress Dr Jupiter, FL	2.0	1.5	1024	$2,450	$2.39	20d	1	0.39mi
405 N Cypress Dr #3 Jupiter, FL	2.0	1.5	960	$1,950	$2.03	14d	1	0.43mi
91 Willow Rd #107 Jupiter, FL	2.0	1.0	864	$2,100	$2.43	24d	1	0.44mi
272 Village Blvd #7305 Tequesta, FL	2.0	2.0	991	$2,200	$2.22	5d	1	0.47mi
284 Village Blvd Tequesta, FL	2.0–3.0	2.0	1182	$3,100	$2.62	11d	2	0.48mi
284 Village Blvd Tequesta, FL	1.0–3.0	1.0–2.0	1087	$2,600	$2.39	10d	2	0.48mi
284 Village Blvd Tequesta, FL	1.0–3.0	1.0–2.0	1087	$2,600	$2.39	24d	3	0.48mi
242 Village Blvd Tequesta, FL	2.0	2.0	991	$3,150	$3.18	20d	2	0.51mi
254 Village Blvd #4306 Tequesta, FL	2.0	2.0	991	$3,000	$3.03	24d	1	0.55mi
242 Village Blvd #2304 Tequesta, FL	2.0	2.0	991	$3,800	$3.83	24d	1	0.55mi
114 Lighthouse Cir Unit J Jupiter, FL	2.0	2.0	981	$2,350	$2.40	24d	1	0.56mi
1519 Treemont Ave Jupiter, FL	3.0	2.0	888	$3,200	$3.60	24d	1	0.60mi
150 Pineview Rd Jupiter, FL	1.0–2.0	1.0–2.0	982	$2,800	$2.85	2d	5	0.68mi
249 Center St Unit 2C Jupiter, FL	2.0	2.0	1040	$2,950	$2.84	24d	1	1.33mi
1600 Center St Unit B1 Jupiter, FL	2.0	1.0	800	$2,315	$2.89	24d	1	1.49mi
1600 Center St Unit B11 Jupiter, FL	2.0	1.0	800	$2,200	$2.75	24d	1	1.50mi

HOA detail condo

• Monthly dues: $504 · $6,048/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $264,900 Active 66 DOM
2. 2026-06-17
   days on market $264,900 Active 65 DOM
3. 2026-06-16
   days on market $264,900 Active 64 DOM
4. 2026-06-15
   days on market $264,900 Active 63 DOM
5. 2026-06-13
   days on market $264,900 Active 61 DOM
6. 2026-06-09
   days on market $264,900 Active 57 DOM
7. 2026-06-08
   days on market $264,900 Active 56 DOM
8. 2026-06-07
   days on market $264,900 Active 55 DOM
9. 2026-06-04
   days on market $264,900 Active 52 DOM
10. 2026-06-03
    days on market $264,900 Active 51 DOM
11. 2026-06-02
    days on market $264,900 Active 50 DOM
12. 2026-06-01
    days on market $264,900 Active 49 DOM
13. 2026-05-31
    days on market $264,900 Active 48 DOM
14. 2026-04-27
    price $264,900
15. 2026-04-13
    listed $269,000 Active
16. 2017-03-02
    soldstatus $100,000
17. 1992-12-11
    soldstatus $52,000
18. 1988-11-04
    soldstatus $55,000

ⓘ 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: $1,452 · $121/mo
• Projected year-2 tax: $2,199 · $183/mo
• Expected delta: +$747/yr (+$62/mo · 51.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 24 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: $31,590
• − Mortgage interest: −$14,839
• − Property taxes: −$1,452
• − Insurance: −$1,324
• − Repairs & maintenance: −$2,527
• − Management: −$2,527
• − HOA: −$6,048
• − Depreciation: −$7,706
• Taxable loss: −$4,833
• Est. tax savings @ 24.0%: +$1,160
• After-tax cash flow: $622/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 — Tequesta

• Score: 62/100
• State rank: #764
• US rank: #16907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tequesta, FL
• County: Martin County · 165,223 people
• City population: 14,686
• Metro: Port St. Lucie, FL
• Population (ZIP): 14,686
• Household income: $106,265
• Rent vs Own: 13.4% rent · 86.6% own
• Severe rent burden: 404.0

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: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 3%
• Common ancestry: Lithuanian 6% Slovak 4% Romanian 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -183.36%
• Current HPI: 419.948
• Rent YoY: ▲ 3.88%
• Metro: Port St. Lucie, 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

+381.6% since first listed

5 events — show timeline

• 2026-04-27 Price Changed $264,900 Beaches MLS
• 2026-04-13 Listed $269,000 Beaches MLS
• 2017-03-02 Sold (Public Records) $100,000 Public Records
• 1992-12-11 Sold (Public Records) $52,000 Public Records
• 1988-11-04 Sold (Public Records) $55,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $1,452 · +5.3% YoY. Source: county tax records.