2 Garden St Unit 106m · Tequesta, FL 33469

$239,000

2 bd · 2.0 ba · 886 sqft · Condo public records · 260 Days on market

Built 1971 $510/mo HOA · 19% of rent

---

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).

• Cash flow +17.2/30.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• DSCR +5.4/10.0
• Schools +4.3/10.0
• Rent growth +3.5/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming first-floor condo. Step inside to find a spacious living area filled with natural light, a well-appointed kitchen, and a private patio for enjoying morning coffee or quiet evenings. Residents will appreciate the low HOA fees, which cover exterior maintenance, landscaping, and access to community amenities. Conveniently located near shopping, dining, medical facilities, and local attractions, this condo puts everything you need within reach. Embrace a relaxed and welcoming community where comfort meets affordability — a wonderful place to call home. 2 community Pools with Club House NEW ROOF SEPT 2025!

Key facts

• Low hoa fees
• First-floor condo
• Spacious living area

Tags

• FIRST-FLOOR CONDO
• SPACIOUS LIVING AREA
• WELL-APPOINTED KITCHEN
• PRIVATE PATIO
• LOW HOA FEES
• COMMUNITY AMENITIES

Property features AI

Finance

• Other: Senior community; Pets not allowed
• HOA & community: Community amenities include clubhouse, pool, bocce ball, dog park, game room, community room, park, sidewalks; Management and on-site manager; Internet included; HOA fee paid monthly

Exterior

• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Single-story; Faces east; Resale property
• Construction: Block construction
• Exterior features: Not waterfront

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Walk-in closets

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $239k.

Deal economics

• At list price, monthly cash flow is $170 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $239k).
• Recommended offer: $210k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 2.5% in Tequesta — 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 62/100 on livability (#764 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: schools F, 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 rising (+3.9%/yr); 206 active listings in the ZIP; 24 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 260 days — a 12% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $239k implies a 378% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 260 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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.
10. 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.
11. 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: 1.11% ✓
• Cap rate: 7.14%
• Cash-on-cash: 3.04%
• DSCR: 1.14
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.88% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.62×
• Total profit: $-25,353
• Equity at exit: $35,636

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $2,578
• Equity at exit: $20,664

Cash invested: $66,920 (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 33469

• Home prices YoY: -30.4%
• Rents YoY: 3.9%
• Active inventory: 206
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,654 high
• Mortgage (P&I): −$1,253
• Tax from tax record: −$64 /mo · $771/yr
• Insurance: −$100
• HOA: −$510
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $170

Break-even live

Break-even rent $2,439

Max offer price $239,000

Occupancy floor 89%

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 Garden St Unit 204P Jupiter, FL	2.0	2.0	886	$2,400	$2.71	24d	1	0.09mi
11 Westwood Ave Unit 103A Jupiter, FL	2.0	2.0	886	$2,350	$2.65	24d	1	0.13mi
4 Westwood Ave Unit 204 Jupiter, FL	2.0	2.0	980	$2,000	$2.04	14d	1	0.13mi
331 Tequesta Dr Tequesta, FL	2.0	2.0	793	$2,150	$2.71	18d	2	0.40mi
331 Tequesta Dr Tequesta, FL	2.0	2.0	717	$2,250	$3.14	4d	2	0.40mi
331 Tequesta Dr #118 Jupiter, FL	2.0	2.0	717	$2,500	$3.49	5d	1	0.40mi
413 N Cypress Dr Jupiter, FL	2.0	1.5	1024	$2,450	$2.39	20d	1	0.44mi
91 Willow Rd #107 Jupiter, FL	2.0	1.0	864	$2,100	$2.43	24d	1	0.47mi
405 N Cypress Dr #3 Jupiter, FL	2.0	1.5	960	$1,950	$2.03	14d	1	0.48mi
272 Village Blvd #7305 Tequesta, FL	2.0	2.0	991	$2,200	$2.22	5d	1	0.55mi
284 Village Blvd Tequesta, FL	2.0–3.0	2.0	1182	$3,100	$2.62	11d	2	0.56mi
284 Village Blvd Tequesta, FL	1.0–3.0	1.0–2.0	1087	$2,600	$2.39	10d	2	0.56mi
284 Village Blvd Tequesta, FL	1.0–3.0	1.0–2.0	1087	$2,600	$2.39	24d	3	0.56mi
1519 Treemont Ave Jupiter, FL	3.0	2.0	888	$3,200	$3.60	24d	1	0.58mi
242 Village Blvd Tequesta, FL	2.0	2.0	991	$3,150	$3.18	20d	2	0.59mi
114 Lighthouse Cir Unit J Jupiter, FL	2.0	2.0	981	$2,350	$2.40	24d	1	0.62mi
254 Village Blvd #4306 Tequesta, FL	2.0	2.0	991	$3,000	$3.03	24d	1	0.62mi
242 Village Blvd #2304 Tequesta, FL	2.0	2.0	991	$3,800	$3.83	24d	1	0.64mi
150 Pineview Rd Jupiter, FL	1.0–2.0	1.0–2.0	982	$2,800	$2.85	2d	5	0.69mi
249 Center St Unit 2C Jupiter, FL	2.0	2.0	1040	$2,950	$2.84	24d	1	1.26mi
1600 Center St Unit B1 Jupiter, FL	2.0	1.0	800	$2,315	$2.89	24d	1	1.41mi
1600 Center St Unit B11 Jupiter, FL	2.0	1.0	800	$2,200	$2.75	24d	1	1.41mi
860 Center St Unit 3 Jupiter, FL	2.0	1.0	1050	$2,450	$2.33	24d	1	1.48mi
601 Paulina Rd Jupiter, FL	2.0	2.0	1104	$3,950	$3.58	24d	1	1.49mi

HOA detail condo

• Monthly dues: $510 · $6,120/yr
• Likely covers: landscapingexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $239,000 Active 260 DOM
2. 2026-06-17
   days on market $239,000 Active 259 DOM
3. 2026-06-16
   days on market $239,000 Active 258 DOM
4. 2026-06-15
   days on market $239,000 Active 257 DOM
5. 2026-06-13
   pricedays on market $239,000 Active 255 DOM
6. 2026-06-09
   days on market $249,000 Active 251 DOM
7. 2026-06-07
   days on market $249,000 Active 249 DOM
8. 2026-06-04
   days on market $249,000 Active 246 DOM
9. 2026-06-03
   days on market $249,000 Active 245 DOM
10. 2026-06-01
    days on market $249,000 Active 243 DOM
11. 2026-05-31
    days on market $249,000 Active 242 DOM
12. 2026-05-18
    price $249,000
13. 2026-05-02
    price $259,000
14. 2026-02-17
    price $269,000
15. 2026-01-23
    price $278,000
16. 2025-10-01
    listed $288,000 Active
17. 1996-12-30
    soldstatus $50,000

ⓘ 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: $771 · $64/mo
• Projected year-2 tax: $1,984 · $165/mo
• Expected delta: +$1,213/yr (+$101/mo · 157.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 24 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: $31,848
• − Mortgage interest: −$13,388
• − Property taxes: −$771
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,548
• − Management: −$2,548
• − HOA: −$6,120
• − Depreciation: −$6,953
• Taxable loss: −$1,674
• Est. tax savings @ 24.0%: +$402
• After-tax cash flow: $2,436/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 — Tequesta

• Score: 62/100
• State rank: #764
• US rank: #16907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tequesta, FL
• County: Martin County · 165,223 people
• City population: 14,686
• Metro: Port St. Lucie, FL
• Population (ZIP): 14,686
• Household income: $106,265
• Rent vs Own: 13.4% rent · 86.6% own
• Severe rent burden: 404.0

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: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 3%
• Common ancestry: Lithuanian 6% Slovak 4% Romanian 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 3% Russian/Polish/Slavic 1%

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: ▼ -183.36%
• Current HPI: 419.948
• Rent YoY: ▲ 3.88%
• Metro: Port St. Lucie, 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

+398.0% since first listed

6 events — show timeline

• 2026-05-18 Price Changed $249,000 Beaches MLS
• 2026-05-02 Price Changed $259,000 Beaches MLS
• 2026-02-17 Price Changed $269,000 Beaches MLS
• 2026-01-23 Price Changed $278,000 Beaches MLS
• 2025-10-01 Listed $288,000 Beaches MLS
• 1996-12-30 Sold (Public Records) $50,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $771 · +6.0% YoY. Source: county tax records.