2257 Egret Cove Dr · West Palm Beach, FL 33411

$395,000

3 bd · 2.0 ba · 1,961 sqft · SingleFamily public records · 39 Days on market

Built 2004 5,763 sqft lot $635/mo HOA · 21% of rent ↓ 48% since listing

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.6/30.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• 1% rule +2.7/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks

Beautifully maintained home in Baywinds, 55+ featuring serene lake views, high ceilings that create a more elegant feel, and a beautifully updated kitchen with modern finishes. This light-filled residence offers an open floor plan and comfortable indoor-outdoor living, all within a gated, resort-style community offering exceptional amenities and convenient location close to shopping, dining, and beaches.

Key facts

• Gated community
• Open floor plan
• Lake views

Tags

• LAKE VIEWS
• UPDATED KITCHEN
• OPEN FLOOR PLAN
• INDOOR OUTDOOR LIVING
• GATED COMMUNITY
• RESORT STYLE AMENITIES

Property features AI

Finance

• Financial info: Pets allowed (with number limits)
• HOA & community: Part of Egret Cove Neighborhood Association and Baywinds Master Association; Monthly HOA fee applies ($136); HOA includes cable TV, internet, and security; Community amenities: pool, spa/hot tub, tennis courts, shuffleboard, bocce ball

Exterior

• Parking: Attached 2-car garage; Driveway; 2 covered parking spaces
• Security: Gated community (association amenity)
• Utilities: Public water; Public sewer; Electricity available; Water service available
• Home design: Single family residence; One story; Resale condition; Faces east
• Construction: Concrete block with stucco construction; Concrete and wood truss/rafter roof
• Exterior features: Waterfront property

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric cooktop; Freezer
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Kitchen island
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $395k.

Deal economics

• At list price, monthly cash flow is $-826 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $249k (36.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $304k (23.1% below list).
• Recommended offer: $249k (36.9% below list) — sets the bar for cash-flow.

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.
• Zoned schools: Benoist Farms Elementary School (math 22% / reading 28%, grade F, #2,030 of 2,144 statewide, top 95%, 421 students, 80% FRL); Jeaga Middle School (math 18% / reading 30%, grade F, #532 of 571 statewide, top 94%, 941 students, 78% FRL); Palm Beach Lakes High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 2,688 students, 70% FRL) — zoned schools average 76% FRL vs 52% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 50% district-wide (-26 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 flat; 574 active listings in the ZIP; 29 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).
• This rent runs 39% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $42k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$68k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($383k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $249,080 (36.9% 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 39 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 0.77% ✗
• Cap rate: 3.78%
• Cash-on-cash: -8.96%
• DSCR: 0.60
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: 17.4%
• Equity multiple: 2.41×
• Total profit: $156,438
• Equity at exit: $355,847

10-year hold

• IRR: 16.0%
• Equity multiple: 5.44×
• Total profit: $490,816
• Equity at exit: $767,398

Cash invested: $110,600 (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 33411

• Home prices YoY: 1.9%
• Rents YoY: 0.8%
• Active inventory: 574
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $3,036 high
• Mortgage (P&I): −$2,071
• Tax from tax record: −$353 /mo · $4,242/yr
• Insurance: −$165
• HOA: −$635
• Vacancy / Maint / Mgmt: −$638
• Net cashflow: $-826

Break-even live

Break-even rent $4,082

Max offer price $249,080

Occupancy floor —

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2325 Sailfish Cove Dr West Palm Beach, FL	2.0	2.0	2008	$3,600	$1.79	24d	1	0.14mi
9766 Galleon Dr West Palm Beach, FL	2.0	2.0	1259	$2,240	$1.78	3d	1	0.16mi
9662 Sandpiper Ln West Palm Beach, FL	3.0	2.0	1961	$3,200	$1.63	24d	1	0.19mi
9825 Baywinds Dr West Palm Beach, FL	2.0	2.0	1199	$2,110	$1.76	24d	2	0.20mi
9825 Baywinds Blvd Unit 1125 West Palm Beach, FL	2.0	2.0	1258	$1,925	$1.53	19d	1	0.20mi
9391 Bridgeport Dr West Palm Beach, FL	3.0	2.0	1508	$4,200	$2.79	24d	1	0.23mi
9363 Bridgeport Dr West Palm Beach, FL	2.0	2.0	1368	$2,750	$2.01	5d	1	0.25mi
9901 Baywinds Dr #3202 West Palm Beach, FL	3.0	2.0	1310	$1,200	$0.92	15d	1	0.26mi
9901 Baywinds Dr #3202 West Palm Beach, FL	3.0	2.0	1310	$2,500	$1.91	24d	1	0.26mi
9315 Bridgeport Dr West Palm Beach, FL	2.0	2.0	1368	$2,600	$1.90	24d	1	0.28mi
9873 Baywinds Dr #5212 West Palm Beach, FL	3.0	2.0	1310	$2,450	$1.87	24d	1	0.32mi
9041 Bay Harbour Cir West Palm Beach, FL	3.0	2.0	2018	$3,400	$1.68	16d	1	0.49mi
9041 Bay Harbour Cir West Palm Beach, FL	3.0	2.0	2018	$3,400	$1.68	3d	1	0.49mi
2675 Clipper Cir West Palm Beach, FL	3.0	2.0	1984	$3,500	$1.76	7d	1	0.69mi
2830 Bellarosa Cir West Palm Beach, FL	3.0	2.5	2046	$3,300	$1.61	24d	1	0.78mi
2312 Curley Cut West Palm Beach, FL	3.0	2.5	1972	$5,000	$2.54	24d	1	0.85mi
2106 Belcara Ct West Palm Beach, FL	3.0	2.0	1891	$3,400	$1.80	24d	1	0.95mi
2425 Pigeon Cay West Palm Beach, FL	3.0	2.0	1762	$3,540	$2.01	24d	1	1.09mi
2616 San Andros West Palm Beach, FL	3.0	2.0	2288	$3,600	$1.57	24d	1	1.17mi
8410 Cargill Pt West Palm Beach, FL	3.0	2.0	1421	$3,350	$2.36	24d	1	1.21mi
221 Bilbao St Royal Palm Beach, FL	3.0	2.0	1657	$3,700	$2.23	24d	1	1.23mi
151 Cordoba Cir Royal Palm Beach, FL	3.0	2.0	1421	$3,300	$2.32	24d	1	1.24mi
158 Cordoba Cir Royal Palm Beach, FL	3.0	2.0	1887	$3,850	$2.04	22d	1	1.28mi
179 Dove Cir Royal Palm Beach, FL	3.0	2.0	1642	$3,500	$2.13	24d	1	1.32mi
216 Cordoba Cir Royal Palm Beach, FL	3.0	2.0	1461	$3,080	$2.11	7d	1	1.34mi
240 Bilbao St Royal Palm Beach, FL	3.0	2.0	1440	$3,400	$2.36	24d	1	1.38mi
1990 Augustine Rd West Palm Beach, FL	1.0–2.0	1.0–2.0	1019	$2,595	$2.55	2d	14	1.40mi
2564 Sandy Cay West Palm Beach, FL	3.0	2.0	1974	$4,000	$2.03	24d	1	1.40mi
3910 Sandy Cay West Palm Beach, FL	3.0	2.0	1280	$2,140	$1.67	3d	1	1.49mi

HOA detail

• Monthly dues: $635 · $7,620/yr
• Likely covers: security

Listing history 8 events

1. 2026-06-07
   statusdays on market $395,000 Pending 39 DOM
2. 2026-06-04
   days on market $395,000 Active 38 DOM
3. 2026-06-03
   days on market $395,000 Active 37 DOM
4. 2026-06-02
   days on market $395,000 Active 36 DOM
5. 2026-06-01
   days on market $395,000 Active 35 DOM
6. 2026-05-31
   days on market $395,000 Active 34 DOM
7. 2026-04-27
   listed $429,900 Active
8. 2004-01-09
   soldstatus $826,720

ⓘ 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: $4,242 · $353/mo
• Projected year-2 tax: $4,242 · $353/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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,432
• − Mortgage interest: −$22,126
• − Property taxes: −$4,242
• − Insurance: −$1,975
• − Repairs & maintenance: −$2,915
• − Management: −$2,915
• − HOA: −$7,620
• − Depreciation: −$11,491
• Taxable loss: −$16,851
• Est. tax savings @ 24.0%: +$4,044
• After-tax cash flow: $-5,868/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): 76,863
• Household income: $92,591
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 1870.0

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 0.70)
• Race & ethnicity: White 44% Hispanic / Latino 24% Black 23% Two or more races 16% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 4% Dominican 2%
• Common ancestry: Hispanic 6% Romanian 2% Italian 1%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 17% French/Haitian/Cajun 4% 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: ▲ 17.04%
• Current HPI: 903.78
• Rent YoY: ▲ 0.85%
• 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

-48.0% since first listed

2 events — show timeline

• 2026-04-27 Listed $429,900 Beaches MLS
• 2004-01-09 Sold (Public Records) $826,720 Public Records

Property tax history

+1.2%/yr

Latest (2025): $4,242 · +0.3% YoY. Source: county tax records.