135 Manchineel Ct · Royal Palm Beach, FL 33411

$199,000

3 bd · 2.0 ba · 1,298 sqft · Townhouse public records · 85 Days on market

Built 1980 2,879 sqft lot $478/mo HOA · 18% 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 +16.8/30.0
• Appreciation +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

TRUE 3 BED VILLA * FRESHLY PAINTED * CORNER UNIT * SERVICE CONTRACT ON APPLIANCES * NEW CARPET *

Key facts

• Fitness center
• Clubhouse
• Largest model

Tags

• LARGEST MODEL
• ENCLOSED PATIO
• CLUBHOUSE
• FITNESS CENTER
• WALKING PATHS

Property features AI

Finance

• HOA & community: Community association: Strathmore Gate; Monthly HOA fee (paid monthly); Association amenities include clubhouse and fitness center; HOA covers cable TV, insurance, pest control, trash, common areas, and reserve funds; Pets allowed (pet restrictions possible); Senior community

Exterior

• Parking: Assigned parking; Guest parking; 2 parking spaces
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Sewer available; Water available
• Home design: Townhouse; One story; Entry-level living area; Faces west; City street frontage; Not waterfront
• Construction: Frame and stucco construction; Composition shingle roof; Slab foundation; Built as resale property
• Exterior features: Screened porch; Porch

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Ceramic tile; Tile flooring throughout
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Unfurnished
• Laundry & utility: Laundry closet on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $199k.

Deal economics

• At list price, monthly cash flow is $126 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $187k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#135 in FL, #2,039 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living C-, amenities F, commute 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: Cypress Trails Elementary School (math 52% / reading 62%, grade C+, #781 of 2,144 statewide, top 38%, 492 students, 53% FRL); Crestwood Community Middle (math 49% / reading 52%, grade C, #246 of 571 statewide, top 44%, 724 students, 50% FRL); Royal Palm Beach High School (math 22% / reading 38%, grade F, #441 of 667 statewide, top 67%, 2,343 students, 57% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents flat; 574 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 34% 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 $21k of equity ($1k loan paydown + $20k 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.
• At projected returns (10.0% appreciation + 0.8% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y 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.
• Current owner paid $60k; list at $199k implies a 232% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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.
7. 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.
8. 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: 1.32% ✓
• Cap rate: 7.05%
• Cash-on-cash: 2.71%
• DSCR: 1.12
• GRM: 6.3

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: 25.2%
• Equity multiple: 3.00×
• Total profit: $111,241
• Equity at exit: $179,275

10-year hold

• IRR: 21.5%
• Equity multiple: 6.60×
• Total profit: $311,759
• Equity at exit: $386,613

Cash invested: $55,720 (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: 6.3×

Monthly cashflow live

• Estimated rent: $2,619 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$339 /mo · $4,063/yr
• Insurance: −$83
• HOA: −$478
• Vacancy / Maint / Mgmt: −$550
• Net cashflow: $126

Break-even live

Break-even rent $2,460

Max offer price $199,000

Occupancy floor 90%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
73 Macadamia Ct Royal Palm Beach, FL	2.0	2.0	1112	$2,000	$1.80	11d	1	0.16mi
110 Weybridge Cir Unit A Royal Palm Beach, FL	2.0	2.5	1470	$2,350	$1.60	21d	1	0.20mi
139 Sparrow Dr Royal Palm Beach, FL	2.0–3.0	1.5–2.5	1100	$2,390	$2.17	14d	3	0.25mi
111 Weybridge Cir Royal Palm Beach, FL	3.0	2.5	1710	$3,100	$1.81	4d	1	0.28mi
132 Weybridge Cir Royal Palm Beach, FL	2.0	2.5	1470	$3,000	$2.04	24d	1	0.28mi
100 Sparrow Dr #2 Royal Palm Beach, FL	3.0	2.0	1824	$2,725	$1.49	18d	1	0.33mi
202 Lakeside Landing Dr Royal Palm Beach, FL	3.0	2.5	1532	$3,200	$2.09	3d	1	0.33mi
100 Sparrow Dr #14 Royal Palm Beach, FL	3.0	2.0	1737	$2,725	$1.57	24d	1	0.36mi
263 Deerfield Ct Royal Palm Beach, FL	2.0	2.0	1120	$1,800	$1.61	24d	1	0.40mi
7 Greenway Vlg N Royal Palm Beach, FL	1.0–2.0	1.5–2.0	930	$1,700	$1.83	16d	2	0.45mi
4 Greenway Vlg N #203 Royal Palm Beach, FL	2.0	2.0	1080	$2,000	$1.85	24d	1	0.46mi
2 Greenway Vlg N #210 Royal Palm Beach, FL	2.0	2.0	1080	$2,000	$1.85	24d	1	0.47mi
1601 Lakeview Dr W Unit 1601 Royal Palm Beach, FL	3.0	2.5	1296	$2,375	$1.83	21d	1	0.51mi
1407 Lakeview Dr E Royal Palm Beach, FL	2.0	2.0	1165	$2,300	$1.97	7d	1	0.56mi
182 Sparrow Dr Unit A Royal Palm Beach, FL	3.0	2.0	1485	$3,000	$2.02	24d	1	0.61mi
12002 Poinciana Blvd #204 Royal Palm Beach, FL	2.0	2.0	1048	$1,750	$1.67	24d	1	0.62mi
12007 Poinciana Blvd #205 Royal Palm Beach, FL	2.0	2.0	1088	$1,590	$1.46	14d	1	0.63mi
180 Heatherwood Dr Royal Palm Beach, FL	3.0	2.0	1462	$2,710	$1.85	5d	1	0.69mi
296 Sandpiper Ave Royal Palm Beach, FL	3.0	2.0	1569	$3,100	$1.98	24d	1	0.70mi
1803 Palm Beach Trace Dr Royal Palm Beach, FL	2.0	2.0	1201	$2,000	$1.67	18d	1	0.74mi
1605 Palm Beach Trace Dr Royal Palm Beach, FL	2.0	2.0	1201	$2,100	$1.75	12d	1	0.75mi
113 Sandpiper Ave Royal Palm Beach, FL	3.0	2.0	1798	$3,500	$1.95	11d	1	0.76mi
202 Sparrow Dr #1 Royal Palm Beach, FL	3.0	2.0	1020	$2,400	$2.35	24d	1	0.77mi
145 Prestige Dr Royal Palm Beach, FL	3.0	2.0	1464	$2,900	$1.98	16d	1	0.79mi
43 Essex Ct Unit A Royal Palm Beach, FL	2.0	2.5	1398	$2,500	$1.79	24d	1	0.80mi
101 Fairway Ln Royal Palm Beach, FL	3.0	2.5	1684	$3,300	$1.96	21d	1	0.80mi
210 Sparrow Dr #4 Royal Palm Beach, FL	2.0	2.0	930	$1,900	$2.04	20d	1	0.81mi
36 Danbury Ct Unit B Royal Palm Beach, FL	2.0	2.5	1398	$2,300	$1.65	10d	1	0.84mi
876 Gardenia Dr Royal Palm Beach, FL	2.0	2.0	1502	$3,500	$2.33	24d	1	0.87mi
830 Royal Palm Beach Blvd Royal Palm Beach, FL	3.0	2.0	1369	$2,766	$2.02	7d	1	1.00mi
133 Black Olive Cres Royal Palm Beach, FL	3.0	2.0	1752	$4,500	$2.57	24d	1	1.02mi
849 Camellia Dr Royal Palm Beach, FL	3.0	2.0	1599	$3,400	$2.13	24d	1	1.06mi
213 River Bluff Ln Royal Palm Beach, FL	3.0	2.5	1579	$2,800	$1.77	24d	1	1.06mi
118 Bobwhite Rd Royal Palm Beach, FL	3.0	2.0	1444	$3,200	$2.22	17d	1	1.07mi
180 Seminole Lakes Dr Royal Palm Beach, FL	3.0	2.0	1856	$3,500	$1.89	24d	1	1.07mi
10863 Dalmany Way Royal Palm Beach, FL	3.0	2.0	1232	$3,500	$2.84	24d	1	1.08mi
212 Trace Ct Royal Palm Beach, FL	3.0	2.0	1740	$3,050	$1.75	5d	1	1.08mi
274 River Bluff Ln Royal Palm Beach, FL	3.0	2.5	1579	$3,000	$1.90	24d	1	1.11mi
220 Crestwood Cir #106 Royal Palm Beach, FL	3.0	2.0	1520	$2,650	$1.74	24d	1	1.14mi
179 Dove Cir Royal Palm Beach, FL	3.0	2.0	1642	$3,500	$2.13	24d	1	1.15mi

HOA detail

• Monthly dues: $478 · $5,736/yr

Listing history 21 events

1. 2026-06-18
   days on market $199,000 Active 85 DOM
2. 2026-06-17
   days on market $199,000 Active 84 DOM
3. 2026-06-16
   days on market $199,000 Active 83 DOM
4. 2026-06-15
   days on market $199,000 Active 82 DOM
5. 2026-06-13
   days on market $199,000 Active 80 DOM
6. 2026-06-09
   days on market $199,000 Active 76 DOM
7. 2026-06-08
   days on market $199,000 Active 75 DOM
8. 2026-06-07
   days on market $199,000 Active 74 DOM
9. 2026-06-04
   days on market $199,000 Active 71 DOM
10. 2026-06-03
    days on market $199,000 Active 70 DOM
11. 2026-06-02
    days on market $199,000 Active 69 DOM
12. 2026-06-01
    days on market $199,000 Active 68 DOM
13. 2026-05-31
    days on market $199,000 Active 67 DOM
14. 2026-03-25
    historical
15. 2026-03-25
    listed $199,000 Active
16. 2025-04-24
    listed $240,000 Active
17. 2000-08-31
    soldstatus $60,000 97-char remark

    Show marketing remark (97 chars)

    TRUE 3 BED VILLA * FRESHLY PAINTED * CORNER UNIT * SERVICE CONTRACT ON APPLIANCES * NEW CARPET *

18. 2000-08-30
    historical 97-char remark

    Show marketing remark (97 chars)

    TRUE 3 BED VILLA * FRESHLY PAINTED * CORNER UNIT * SERVICE CONTRACT ON APPLIANCES * NEW CARPET *

19. 2000-03-05
    listed $64,900 97-char remark

    Show marketing remark (97 chars)

    TRUE 3 BED VILLA * FRESHLY PAINTED * CORNER UNIT * SERVICE CONTRACT ON APPLIANCES * NEW CARPET *

20. 1993-08-03
    soldstatus $65,000
21. 1992-08-03
    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: $4,063 · $339/mo
• Projected year-2 tax: $4,063 · $339/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 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: $31,428
• − Mortgage interest: −$11,147
• − Property taxes: −$4,063
• − Insurance: −$995
• − Repairs & maintenance: −$2,514
• − Management: −$2,514
• − HOA: −$5,736
• − Depreciation: −$5,789
• Taxable loss: −$1,331
• Est. tax savings @ 24.0%: +$319
• After-tax cash flow: $1,830/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 — Royal Palm Beach

• Score: 79/100
• State rank: #135
• US rank: #2039

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Royal Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 75,299
• 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

+261.8% since first listed

8 events — show timeline

• 2026-03-25 Listed $199,000 Beaches MLS
• 2026-03-25 Listing Removed — Beaches MLS
• 2025-04-24 Listed $240,000 Beaches MLS
• 2000-08-31 Sold (MLS) $60,000 Beaches MLS
• 2000-08-30 Listing Removed — Beaches MLS
• 2000-03-05 Listed $64,900 Beaches MLS
• 1993-08-03 Sold (Public Records) $65,000 Public Records
• 1992-08-03 Sold (Public Records) $55,000 Public Records

Property tax history

+13.7%/yr

Latest (2025): $4,063 · +908.2% YoY. Source: county tax records.