231 Preserve Ct · Royal Palm Beach, FL 33411

$535,000

3 bd · 2.0 ba · 1,785 sqft · SingleFamily public records · 75 Days on market

Built 2002 6,175 sqft lot $55/mo HOA · 2% 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.4/30.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +0.9/10.0
• DSCR +0.7/10.0

Listing remarks MLS

Fabulous home at an amazing price. Cathedral ceilings, tile floors, all appliances present. Take advantage of this great deal in a quiet neighborhood American Home Mortgage Servicing, Inc. REQUIRES a prequalification from Prospect Mortgage on all financed offers prior to offer submittal. Buyers with a preapproval letter (not a pre-qual) from another Lender must still be preapproved by Prospect Mortgage prior to offer submission. This requirement is to insure that buyers have been qualified by seller's lender partner and to be able to offer the buyer financing options that may not be available anywhere else. Please see the attached notice of the Special Financing Incentives offered by AHMSI to buyers who use Prospect Mortgage for their financing.

Key facts

• 2023 metal roof
• New irrigation timer
• 2020 water heater

Tags

• 2023 METAL ROOF
• 2024 SS APPLIANCE PACKAGE
• 2020 WATER HEATER
• NEW IRRIGATION TIMER
• CUSTOM EPOXY COUNTERTOP
• TROPICAL BACKYARD

Property features AI

Finance

• Other: Pets allowed (number limit)
• HOA & community: HOA with common area maintenance; HOA fee $165 quarterly

Exterior

• Parking: Attached 2-car garage; Driveway; Garage door opener; Covered parking for 2 vehicles
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available
• Home design: Single family residence; One story; Resale; South-facing
• Construction: Pre-cast concrete construction; Metal roof
• Exterior features: Fenced yard; Interior lot; Zero lot line; Fruit trees

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: Three-way split bedroom layout (no main-level bedrooms listed)
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Entrance foyer; Vaulted ceilings; Walk-in closets; Three-way split bedroom layout; Pull-down attic stairs
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $535k.

Deal economics

• At list price, monthly cash flow is $-916 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $373k (30.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $314k (41.3% below list).
• Recommended offer: $314k (41.3% below list) — sets the bar for 1% rule.

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.
• Market conditions: Rents flat; 574 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 41% 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 $57k of equity ($4k loan paydown + $54k 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 ~$92k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($503k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y 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 $150k; list at $535k implies a 257% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $313,862 (41.3% 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 75 days. Have you received any prior offers? Is the seller open to a 41% 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. 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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.59% ✗
• Cap rate: 4.24%
• Cash-on-cash: -7.34%
• DSCR: 0.67
• GRM: 14.2

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: 18.6%
• Equity multiple: 2.51×
• Total profit: $226,268
• Equity at exit: $481,970

10-year hold

• IRR: 16.9%
• Equity multiple: 5.67×
• Total profit: $699,573
• Equity at exit: $1,039,387

Cash invested: $149,800 (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 33411

• Home prices YoY: 1.9%
• Rents YoY: 0.8%
• Active inventory: 574
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $3,139 high
• Mortgage (P&I): −$2,806
• Tax from tax record: −$312 /mo · $3,740/yr
• Insurance: −$223
• HOA: −$55
• Vacancy / Maint / Mgmt: −$659
• Net cashflow: $-916

Break-even live

Break-even rent $4,298

Max offer price $373,239

Occupancy floor —

Sensitivity live

Price	-10% $-613	-5% $-764	+0% $-916	+5% $-1,067	+10% $-1,219
Rent	-10% $-1,164	-5% $-1,040	+0% $-916	+5% $-792	+10% $-668
Rate	-1.0pp $-646	-0.5pp $-780	base $-916	+0.5pp $-1,054	+1.0pp $-1,195

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: $133,750
• Closing costs: $16,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
132 Weybridge Cir Royal Palm Beach, FL	2.0	2.5	1470	$3,000	$2.04	24d	1	0.24mi
111 Weybridge Cir Royal Palm Beach, FL	3.0	2.5	1710	$3,100	$1.81	5d	1	0.27mi
110 Weybridge Cir Unit A Royal Palm Beach, FL	2.0	2.5	1470	$2,350	$1.60	22d	1	0.32mi
1222 Oakwater Dr Royal Palm Beach, FL	3.0	3.0	2109	$3,395	$1.61	24d	1	0.40mi
1222 Oakwater Dr Royal Palm Beach, FL	3.0	3.0	2109	$3,395	$1.61	14d	1	0.40mi
1104 Oakwater Dr Royal Palm Beach, FL	4.0	2.5	2003	$3,896	$1.95	24d	1	0.42mi
1104 Oakwater Dr Royal Palm Beach, FL	4.0	2.5	2003	$3,896	$1.95	22d	1	0.42mi
100 Sparrow Dr #2 Royal Palm Beach, FL	3.0	2.0	1824	$2,725	$1.49	19d	1	0.44mi
104 Oxford Ct Royal Palm Beach, FL	4.0	3.0	2133	$4,500	$2.11	24d	1	0.47mi
100 Sparrow Dr #14 Royal Palm Beach, FL	3.0	2.0	1737	$2,725	$1.57	24d	1	0.50mi
202 Lakeside Landing Dr Royal Palm Beach, FL	3.0	2.5	1532	$3,200	$2.09	4d	1	0.52mi
112 Princess Ct Royal Palm Beach, FL	3.0	2.0	1884	$3,900	$2.07	24d	1	0.53mi
908 Hibiscus Dr Royal Palm Beach, FL	3.0	2.0	1973	$3,600	$1.82	3d	1	0.74mi
113 Sandpiper Ave Royal Palm Beach, FL	3.0	2.0	1798	$3,500	$1.95	12d	1	0.76mi
133 Black Olive Cres Royal Palm Beach, FL	3.0	2.0	1752	$4,500	$2.57	24d	1	0.78mi
1601 Lakeview Dr W Unit 1601 Royal Palm Beach, FL	3.0	2.5	1296	$2,375	$1.83	22d	1	0.78mi
876 Gardenia Dr Royal Palm Beach, FL	2.0	2.0	1502	$3,500	$2.33	24d	1	0.82mi
220 Crestwood Cir #106 Royal Palm Beach, FL	3.0	2.0	1520	$2,650	$1.74	24d	1	0.87mi
182 Sparrow Dr Unit A Royal Palm Beach, FL	3.0	2.0	1485	$3,000	$2.02	24d	1	0.88mi
180 Heatherwood Dr Royal Palm Beach, FL	3.0	2.0	1462	$2,710	$1.85	5d	1	0.90mi
106 Fernwood Cres Royal Palm Beach, FL	4.0	2.0	2088	$3,500	$1.68	15d	1	0.93mi
830 Royal Palm Beach Blvd Royal Palm Beach, FL	3.0	2.0	1369	$2,766	$2.02	8d	1	0.93mi
296 Sandpiper Ave Royal Palm Beach, FL	3.0	2.0	1569	$3,100	$1.98	24d	1	0.97mi
43 Essex Ct Unit A Royal Palm Beach, FL	2.0	2.5	1398	$2,500	$1.79	24d	1	1.00mi
101 Fairway Ln Royal Palm Beach, FL	3.0	2.5	1684	$3,300	$1.96	22d	1	1.02mi
36 Danbury Ct Unit B Royal Palm Beach, FL	2.0	2.5	1398	$2,300	$1.65	11d	1	1.03mi
849 Camellia Dr Royal Palm Beach, FL	3.0	2.0	1599	$3,400	$2.13	24d	1	1.04mi
145 Prestige Dr Royal Palm Beach, FL	3.0	2.0	1464	$2,900	$1.98	17d	1	1.05mi
11823 Dahlia Dr Royal Palm Beach, FL	3.0	2.0	1385	$2,406	$1.74	8d	1	1.06mi
180 Seminole Lakes Dr Royal Palm Beach, FL	3.0	2.0	1856	$3,500	$1.89	24d	1	1.07mi
330 Crestwood Cir #303 Royal Palm Beach, FL	2.0	2.0	1306	$2,150	$1.65	24d	1	1.09mi
213 River Bluff Ln Royal Palm Beach, FL	3.0	2.5	1579	$2,800	$1.77	24d	1	1.13mi
340 Crestwood Cir #302 Royal Palm Beach, FL	3.0	2.0	1306	$2,550	$1.95	22d	1	1.14mi
274 River Bluff Ln Royal Palm Beach, FL	3.0	2.5	1579	$3,000	$1.90	24d	1	1.21mi
460 Rainbow Springs Ter Royal Palm Beach, FL	3.0	2.5	1579	$2,950	$1.87	24d	1	1.25mi
112 Wakulla Springs Way #112 Royal Palm Beach, FL	2.0	2.5	1623	$4,000	$2.46	24d	1	1.25mi
94 Palm Ln Royal Palm Beach, FL	3.0	2.5	2222	$3,200	$1.44	24d	1	1.25mi
63 Dogwood Ct Royal Palm Beach, FL	3.0	2.5	2222	$3,500	$1.58	19d	1	1.26mi
63 Dogwood Ct Royal Palm Beach, FL	3.0	2.5	2222	$3,500	$1.58	17d	1	1.26mi
148 Ponce de Leon St Royal Palm Beach, FL	3.0	2.0	2022	$3,500	$1.73	24d	1	1.27mi

HOA detail

• Monthly dues: $55 · $660/yr

Listing history 13 events

1. 2026-06-17
   status $535,000 Pending 75 DOM
2. 2026-06-16
   days on market $535,000 Active 75 DOM
3. 2026-06-15
   days on market $535,000 Active 74 DOM
4. 2026-06-13
   days on market $535,000 Active 72 DOM
5. 2026-06-10
   status $535,000 Active 68 DOM
6. 2026-05-18
   status Pending
7. 2026-04-28
   price $535,000
8. 2025-12-11
   listed $549,900 Active
9. 2010-12-21
   soldstatus $150,000 755-char remark

   Show marketing remark (755 chars)

   Fabulous home at an amazing price. Cathedral ceilings, tile floors, all appliances present. Take advantage of this great deal in a quiet neighborhood American Home Mortgage Servicing, Inc. REQUIRES a prequalification from Prospect Mortgage on all financed offers prior to offer submittal. Buyers with a preapproval letter (not a pre-qual) from another Lender must still be preapproved by Prospect Mortgage prior to offer submission. This requirement is to insure that buyers have been qualified by seller's lender partner and to be able to offer the buyer financing options that may not be available anywhere else. Please see the attached notice of the Special Financing Incentives offered by AHMSI to buyers who use Prospect Mortgage for their financing.

10. 2010-11-23
    historical 755-char remark

    Show marketing remark (755 chars)

    Fabulous home at an amazing price. Cathedral ceilings, tile floors, all appliances present. Take advantage of this great deal in a quiet neighborhood American Home Mortgage Servicing, Inc. REQUIRES a prequalification from Prospect Mortgage on all financed offers prior to offer submittal. Buyers with a preapproval letter (not a pre-qual) from another Lender must still be preapproved by Prospect Mortgage prior to offer submission. This requirement is to insure that buyers have been qualified by seller's lender partner and to be able to offer the buyer financing options that may not be available anywhere else. Please see the attached notice of the Special Financing Incentives offered by AHMSI to buyers who use Prospect Mortgage for their financing.

11. 2010-10-04
    listed $169,900 755-char remark

    Show marketing remark (755 chars)

    Fabulous home at an amazing price. Cathedral ceilings, tile floors, all appliances present. Take advantage of this great deal in a quiet neighborhood American Home Mortgage Servicing, Inc. REQUIRES a prequalification from Prospect Mortgage on all financed offers prior to offer submittal. Buyers with a preapproval letter (not a pre-qual) from another Lender must still be preapproved by Prospect Mortgage prior to offer submission. This requirement is to insure that buyers have been qualified by seller's lender partner and to be able to offer the buyer financing options that may not be available anywhere else. Please see the attached notice of the Special Financing Incentives offered by AHMSI to buyers who use Prospect Mortgage for their financing.

12. 2006-06-03
    historical
13. 2006-04-18
    listed $389,000

ⓘ 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: $3,740 · $312/mo
• Projected year-2 tax: $4,440 · $370/mo
• Expected delta: +$700/yr (+$58/mo · 18.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 10/10 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: $37,663
• − Mortgage interest: −$29,968
• − Property taxes: −$3,740
• − Insurance: −$2,675
• − Repairs & maintenance: −$3,013
• − Management: −$3,013
• − HOA: −$660
• − Depreciation: −$15,564
• Taxable loss: −$20,970
• Est. tax savings @ 24.0%: +$5,033
• After-tax cash flow: $-5,956/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: 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

+37.5% since first listed

8 events — show timeline

• 2026-05-18 Pending — Beaches MLS
• 2026-04-28 Price Changed $535,000 Beaches MLS
• 2025-12-11 Listed $549,900 Beaches MLS
• 2010-12-21 Sold (MLS) $150,000 Beaches MLS
• 2010-11-23 Listing Removed — Beaches MLS
• 2010-10-04 Listed $169,900 Beaches MLS
• 2006-06-03 Listing Removed — Beaches MLS
• 2006-04-18 Listed $389,000 Beaches MLS

Property tax history

+1.0%/yr

Latest (2025): $3,740 · +3.4% YoY. Source: county tax records.