1119 Green Pine Blvd Unit C1 · West Palm Beach, FL 33409

$184,900

2 bd · 2.0 ba · 1,106 sqft · Condo public records · 364 Days on market

Built 1984 $661/mo HOA · 25% 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 +16.6/30.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• 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

First floor lake front condo. Unit has updated kitchen and tile floors throughout. Spacious floor plan with separate dining area. Water and basic cable included. Manned security and heated pool.

Key facts

• Tile floors
• Lake front condo
• Manned security

Tags

• LAKE FRONT CONDO
• UPDATED KITCHEN
• TILE FLOORS
• SEPARATE DINING AREA
• MANNED SECURITY
• HEATED POOL

Property features AI

Finance

• Other: Building area reported as approximately 1,106–1,111 (source: public records)
• Financial info: Pets are not allowed
• HOA & community: Community of 376 units; HOA with monthly fee; HOA fee reported as $661 per month

Exterior

• Parking: Parking details not provided
• Security: No specific security features listed
• Utilities: Three-phase electric; Cable available
• Home design: Condominium; Single-story; Faces east; Resale property
• Construction: Block/CBS construction
• Exterior features: Waterfront property; Picnic area; Pool; Sidewalks; On-site manager

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Ceramic tile
• Bathrooms: Two bathrooms (one on the main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No special interior features listed
• Laundry & utility: Interior laundry (inside); Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $111 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $2,690/mo this rent would consume 48% 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 $1k of loan paydown is wiped out by about $6k 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 364 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y ago; this cycle's ask is 9632% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $144k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 25% 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 $162,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 364 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: 1.45% ✓
• Cap rate: 7.01%
• Cash-on-cash: 2.57%
• DSCR: 1.11
• GRM: 5.7

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: -17.3%
• Equity multiple: 0.41×
• Total profit: $-30,297
• Equity at exit: $27,569

10-year hold

• IRR: -22.0%
• Equity multiple: 0.12×
• Total profit: $-45,759
• Equity at exit: $15,987

Cash invested: $51,772 (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: 5.7×

Monthly cashflow live

• Estimated rent: $2,690 high
• Mortgage (P&I): −$970
• Tax from tax record: −$307 /mo · $3,680/yr
• Insurance: −$77
• HOA: −$661
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $111

Break-even live

Break-even rent $2,550

Max offer price $184,900

Occupancy floor 91%

Sensitivity live

Price	-10% $215	-5% $163	+0% $111	+5% $58	+10% $6
Rent	-10% $-102	-5% $5	+0% $111	+5% $217	+10% $323
Rate	-1.0pp $204	-0.5pp $158	base $111	+0.5pp $63	+1.0pp $14

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 17 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	0.30mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	25d	1	0.67mi
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	25d	1	0.79mi
4385 Willow Brook Cir West Palm Beach, FL	3.0	2.0	1468	$3,200	$2.18	23d	1	1.12mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$2,528	$2.07	19d	60	1.18mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	25d	1	1.32mi
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	25d	1	1.38mi
2400 Presidential Way #1906 West Palm Beach, FL	1.0	2.0	1294	$3,000	$2.32	25d	1	1.39mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	17d	1	1.40mi
1991 Presidential Way West Palm Beach, FL	1.0	1.0	827	$3,427	$4.14	9d	1	1.40mi
75 Sheffield D Unit D West Palm Beach, FL	2.0	1.5	798	$1,600	$2.01	3d	1	1.40mi
74 Sheffield D Unit D West Palm Beach, FL	2.0	1.5	798	$1,400	$1.75	25d	1	1.40mi
149 Stratford N West Palm Beach, FL	2.0	2.0	978	$1,650	$1.69	25d	1	1.41mi
110 Stratford N West Palm Beach, FL	1.0	1.5	740	$1,600	$2.16	20d	1	1.41mi
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$2,705	$2.53	21d	19	1.46mi
144 Dorchester G West Palm Beach, FL	2.0	1.5	798	$1,700	$2.13	13d	1	1.47mi
144 Dorchester G West Palm Beach, FL	2.0	1.5	798	$1,700	$2.13	12d	1	1.47mi

HOA detail condo

• Monthly dues: $661 · $7,932/yr
• Likely covers: watercablepoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-17
   days on market $184,900 Active 364 DOM
2. 2026-06-16
   days on market $184,900 Active 363 DOM
3. 2026-06-15
   days on market $184,900 Active 362 DOM
4. 2026-06-13
   days on market $184,900 Active 360 DOM
5. 2026-06-09
   days on market $184,900 Active 356 DOM
6. 2026-06-07
   days on market $184,900 Active 354 DOM
7. 2026-06-04
   days on market $184,900 Active 351 DOM
8. 2026-06-03
   days on market $184,900 Active 350 DOM
9. 2026-06-01
   days on market $184,900 Active 348 DOM
10. 2026-05-31
    days on market $184,900 Active 347 DOM
11. 2026-05-08
    listed $1,900
12. 2026-05-08
    historical $1,900
13. 2026-05-07
    listed $1,900
14. 2026-03-31
    historical $1,900
15. 2025-12-27
    price $1,900
16. 2025-10-21
    price $2,000
17. 2025-10-17
    price $1,800
18. 2025-10-16
    price $184,900
19. 2025-08-19
    price $185,000
20. 2025-06-19
    listed $2,000
21. 2025-06-18
    listed $195,000 Active
22. 2025-06-02
    price $199,000
23. 2025-06-02
    historical
24. 2025-05-24
    historical $2,000
25. 2025-05-22
    price $180,000
26. 2025-04-12
    listed $199,999 Active
27. 2025-02-13
    listed $2,000
28. 2008-10-07
    historical
29. 2008-03-31
    historical
30. 2007-11-30
    listed $159,900
31. 2007-10-09
    listed $159,999
32. 2006-05-26
    soldstatus $144,000
33. 2006-05-26
    soldstatus $144,000
34. 2006-05-25
    soldstatus $144,000
35. 2006-05-01
    historical
36. 2006-04-06
    listed $149,900
37. 2003-01-02
    soldstatus $87,000

ⓘ 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: $3,680 · $307/mo
• Projected year-2 tax: $3,680 · $307/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 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: $32,280
• − Mortgage interest: −$10,357
• − Property taxes: −$3,680
• − Insurance: −$924
• − Repairs & maintenance: −$2,582
• − Management: −$2,582
• − HOA: −$7,932
• − Depreciation: −$5,379
• Taxable loss: −$1,157
• Est. tax savings @ 24.0%: +$278
• After-tax cash flow: $1,607/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

-97.8% since first listed

27 events — show timeline

• 2026-05-08 Listed for Rent $1,900 RMLSFL
• 2026-05-08 Rental Removed $1,900 GFLMLS
• 2026-05-07 Listed for Rent $1,900 GFLMLS
• 2026-03-31 Rental Removed $1,900 RMLSFL
• 2025-12-27 Price Changed $1,900 RMLSFL
• 2025-10-21 Price Changed $2,000 RMLSFL
• 2025-10-17 Price Changed $1,800 RMLSFL
• 2025-10-16 Price Changed $184,900 Beaches MLS
• 2025-08-19 Price Changed $185,000 Beaches MLS
• 2025-06-19 Listed for Rent $2,000 RMLSFL
• 2025-06-18 Listed $195,000 Beaches MLS
• 2025-06-02 Listing Removed — Beaches MLS
• 2025-06-02 Price Changed $199,000 Beaches MLS
• 2025-05-24 Rental Removed $2,000 GFLMLS
• 2025-05-22 Price Changed $180,000 Beaches MLS
• 2025-04-12 Listed $199,999 Beaches MLS
• 2025-02-13 Listed for Rent $2,000 GFLMLS
• 2008-10-07 Listing Removed — Beaches MLS
• 2008-03-31 Listing Removed — Beaches MLS
• 2007-11-30 Listed $159,900 Beaches MLS
• 2007-10-09 Listed $159,999 Beaches MLS
• 2006-05-26 Sold (Public Records) $144,000 Public Records
• 2006-05-26 Sold (Public Records) $144,000 Public Records
• 2006-05-25 Sold (MLS) $144,000 Beaches MLS
• 2006-05-01 Listing Removed — Beaches MLS
• 2006-04-06 Listed $149,900 Beaches MLS
• 2003-01-02 Sold (Public Records) $87,000 Public Records

Property tax history

+12.5%/yr

Latest (2025): $3,680 · +5.9% YoY. Source: county tax records.