228 Pine Hov Cir Unit C-1 · Greenacres, FL 33463

$140,000

2 bd · 2.0 ba · 924 sqft · Condo public records · 39 Days on market

Built 1982 $410/mo HOA · 21% 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 +22.9/30.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming 2-bedroom, 2-bath condo offering 924 sq. ft. of comfortable, low-maintenance living in the heart of Greenacres. Perfectly situated on the desirable ground floor, this residence provides effortless accessibility and a peaceful setting with views of the beautifully maintained courtyard. Always kept extremely clean! Laminate floors in main area with carpet in the bedrooms. Looking for an owner to come in and make it their own. An enclosed sunroom, walk-in closets in both bedrooms, and an in-unit full-size washer and dryer to add great value. While the kitchen, bathrooms, and carpeting are ready for updating, the home offers a solid foundation and a great layout, givi

Key facts

• $410 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Land is not leased; Pets allowed with restrictions (breed, number, size limits)
• HOA & community: Association: Pine Ridge South II; Quarterly HOA dues; Association amenities include clubhouse, pool (heated), shuffleboard court, manager on site, kitchen facilities, maintained community, recreation facilities; HOA fee covers cable TV, insurance, internet, grounds and structure maintenance, pest control, trash, common areas, common real estate tax, legal/accounting, reserve funds, roof repairs, and pool service

Exterior

• Parking: 1 parking space; Asphalt parking
• Utilities: Public water; Public sewer; 100 amp electric service; Cable available; Electricity available; Sewer available; Water available
• Home design: Condominium; One level; Faces west; Resale property
• Construction: CBS construction; Shingle roof; 2 total stories (building); 924 sq ft living area
• Exterior features: Screened patio; Patio; City street frontage; Not waterfront; Public maintained road

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Refrigerator; Freezer; Electric water heater
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Built-in features; Entrance foyer; Walk-in closets; Partially furnished; Accessible features throughout (bedroom, closets, common areas, doors, entrance, full bath, hallways, kitchen, washer/dryer) and reinforced floors; adaptable bathroom walls; visitor bathroom; central living area
• Laundry & utility: Indoor laundry room on main level; Washer/dryer accessible (accessibility features listed)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $246 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#490 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools D+, employment D, amenities 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 rising (+1.3%/yr); 354 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• This rent runs 31% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k 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 39 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $80k; list at $140k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• 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 $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.37% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.54%
• DSCR: 1.34
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.33% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.75×
• Total profit: $-9,966
• Equity at exit: $20,874

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-211
• Equity at exit: $12,105

Cash invested: $39,200 (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 33463

• Home prices YoY: -30.9%
• Rents YoY: 1.3%
• Active inventory: 354
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,921 high
• Mortgage (P&I): −$734
• Tax from tax record: −$69 /mo · $826/yr
• Insurance: −$58
• HOA: −$410
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $246

Break-even live

Break-even rent $1,609

Max offer price $140,000

Occupancy floor 82%

Sensitivity live

Price	-10% $325	-5% $286	+0% $246	+5% $207	+10% $167
Rent	-10% $94	-5% $170	+0% $246	+5% $322	+10% $398
Rate	-1.0pp $317	-0.5pp $282	base $246	+0.5pp $210	+1.0pp $173

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
211 Pine Hov Cir Unit D2 Greenacres, FL	2.0	2.0	924	$1,700	$1.84	0d	1	0.09mi
231 Pine Hov Cir Unit A1 Greenacres, FL	1.0	1.0	818	$1,650	$2.02	25d	1	0.11mi
133 Lake Pine Cir Unit B1 Greenacres, FL	1.0	1.0	639	$1,450	$2.27	25d	1	0.16mi
133 Lake Pine Cir Greenacres, FL	1.0	1.0	639	$1,300	$2.03	20d	1	0.16mi
335 Knotty Pine Cir Unit D2 Greenacres, FL	2.0	2.0	937	$1,750	$1.87	25d	1	0.18mi
313 Knotty Pine Cir Unit A2 Greenacres, FL	2.0	2.0	937	$1,900	$2.03	25d	1	0.19mi
317 Knotty Pine Cir Unit A2 Greenacres, FL	2.0	1.0	818	$1,500	$1.83	25d	1	0.19mi
309 Knotty Pine Cir Unit A1 Greenacres, FL	2.0	1.0	818	$1,650	$2.02	0d	1	0.20mi
121 Lake Pine Cir Unit A2 Greenacres, FL	2.0	1.0	818	$1,600	$1.96	25d	1	0.22mi
105 Lake Pine Cir Unit B2 Greenacres, FL	2.0	2.0	937	$2,000	$2.13	25d	1	0.22mi
301 Knotty Pine Cir Unit B2 Greenacres, FL	2.0	2.0	937	$2,300	$2.45	0d	1	0.23mi
102 Lake Pine Cir Unit A2 Greenacres, FL	2.0	1.0	937	$1,500	$1.60	25d	1	0.27mi
104 Lake Pine Cir Unit A1 Greenacres, FL	2.0	2.0	937	$2,050	$2.19	25d	1	0.30mi
4121 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,950	$2.21	25d	1	0.31mi
4147 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$2,000	$2.27	0d	1	0.31mi
4101 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,850	$2.10	12d	1	0.31mi
4205 S 57th Ave Unit G Greenacres, FL	2.0	2.0	1046	$1,900	$1.82	25d	1	0.38mi
4191 S 57th Ave Unit H Greenacres, FL	2.0	2.0	847	$1,750	$2.07	25d	1	0.40mi
4181 S 57th Ave Unit D Greenacres, FL	2.0	2.0	847	$1,850	$2.18	25d	1	0.40mi
4185 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,850	$2.10	23d	1	0.42mi
4221 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,900	$2.15	25d	1	0.44mi
4243 Oak Terrace Dr #4243 Greenacres, FL	2.0	2.0	883	$1,950	$2.21	25d	1	0.45mi
4245 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$2,000	$2.27	25d	1	0.45mi
4259 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,900	$2.15	25d	1	0.46mi
4535 Oak Terrace Dr Greenacres, FL	3.0	2.0	1061	$2,400	$2.26	13d	1	0.51mi
4535 Oak Terrace Dr Greenacres, FL	3.0	2.0	1061	$2,500	$2.36	16d	1	0.51mi
407 Pine Cir Unit C1 Greenacres, FL	2.0	2.0	922	$1,800	$1.95	25d	1	0.65mi
407 Pine Cir Unit B1 Greenacres, FL	2.0	2.0	922	$1,750	$1.90	25d	1	0.65mi
417 Pine Glen Ln Unit C2 Greenacres, FL	2.0	2.0	922	$1,800	$1.95	25d	1	0.66mi
417 Pine Glen Ln Unit D2 Greenacres, FL	2.0	2.0	922	$1,550	$1.68	25d	1	0.66mi
408 Pine Glen Ln Unit C-2 Greenacres, FL	2.0	1.0	804	$1,600	$1.99	25d	1	0.66mi
5905 Triphammer Rd Lake Worth, FL	2.0	2.0	1020	$3,000	$2.94	25d	1	0.69mi
446 Pine Glen Ln Unit A1 Greenacres, FL	1.0	1.0	614	$1,550	$2.52	16d	1	0.70mi
443 Pine Glen Ln Unit B2 Greenacres, FL	2.0	2.0	922	$1,500	$1.63	25d	1	0.71mi
429 Pine Glen Ln Unit C2 Greenacres, FL	2.0	1.0	804	$1,650	$2.05	25d	1	0.75mi
6615 Waterfront Xing Lake Worth, FL	1.0–3.0	1.0–2.0	1087	$2,864	$2.63	0d	23	0.84mi
4838 Esedra Ct Lake Worth, FL	1.0	1.0	804	$1,550	$1.93	25d	2	0.85mi
4254 Deste Ct #305 Greenacres, FL	1.0	1.0	716	$1,500	$2.09	25d	1	0.89mi
5855 S 37th St Unit 5857 Greenacres, FL	2.0	1.0	747	$1,949	$2.61	0d	1	0.90mi
6170 Dodd Rd Unit The Greenacres, FL	2.0	2.0	1000	$2,600	$2.60	25d	1	0.91mi

HOA detail condo

• Monthly dues: $410 · $4,920/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-07
   statusdays on market $140,000 Pending 39 DOM
2. 2026-06-04
   days on market $140,000 Active 38 DOM
3. 2026-06-03
   days on market $140,000 Active 37 DOM
4. 2026-06-02
   days on market $140,000 Active 36 DOM
5. 2026-06-01
   days on market $140,000 Active 35 DOM
6. 2026-05-31
   days on market $140,000 Active 34 DOM
7. 2026-04-27
   listed $140,000 Active
8. 2004-08-06
   soldstatus $80,000

ⓘ 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: $826 · $69/mo
• Projected year-2 tax: $1,162 · $97/mo
• Expected delta: +$336/yr (+$28/mo · 40.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,051
• − Mortgage interest: −$7,842
• − Property taxes: −$826
• − Insurance: −$700
• − Repairs & maintenance: −$1,844
• − Management: −$1,844
• − HOA: −$4,920
• − Depreciation: −$4,073
• Taxable income: $1,002
• Est. tax owed @ 24.0%: −$240
• After-tax cash flow: $2,714/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 — Greenacres

• Score: 69/100
• State rank: #490
• US rank: #9008

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenacres, FL
• County: Palm Beach County · 1,438,312 people
• City population: 65,478
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 65,478
• Household income: $73,865
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 1466.0

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: Hispanic / Latino 38% Black 29% White 27% Two or more races 11% Asian 4%
• Hispanic origin (detail): Mexican 8% Puerto Rican 6% Cuban 5% Dominican 2%
• Common ancestry: Hispanic 15% Romanian 1% Slovak 1%
• Foreign-born: 39% · Canada, Jamaica, China
• Languages at home: 45% English-only · Spanish 32% French/Haitian/Cajun 17% 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: ▼ -175.33%
• Current HPI: 392.055
• Rent YoY: ▲ 1.33%
• 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

+75.0% since first listed

2 events — show timeline

• 2026-04-27 Listed $140,000 Beaches MLS
• 2004-08-06 Sold (Public Records) $80,000 Public Records

Property tax history

-1.4%/yr

Latest (2025): $826 · +3.3% YoY. Source: county tax records.