2682 S Garden Dr S #107 · Palm Springs, FL 33461

$45,000

1 bd · 1.0 ba · 744 sqft · Condo public records · 3 Days on market

Built 1969 $587/mo HOA · 36% of rent

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

1st floor unit, 1 Bedroom, 1 Bathroom, screened patio and tile flooring throughout. Many Recreational Activities. Includes 2 pools, Clubhouse, Library and Sauna. Close to shopping area and beaches. This is a 55+ community.

Key facts

• Screened patio
• Clubhouse
• Sauna

Tags

• SCREENED PATIO
• TILE FLOORING
• 2 POOLS
• CLUBHOUSE
• LIBRARY
• SAUNA

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $45k.

Deal economics

• At list price, monthly cash flow is $331 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).

Location & tenants

• Location reads 73/100 on livability (#297 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D+, 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: Meadow Park Elementary School (math 64% / reading 73%, grade B+, #409 of 2,144 statewide, top 20%, 809 students, 65% FRL); Forest Hill Community High School (math 20% / reading 41%, grade F, #434 of 667 statewide, top 66%, 2,407 students, 66% FRL).
• Market conditions: Rents soft (-2.5%/yr); 274 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 ($62k/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 $311 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $13k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 10y 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 $38k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; HOA is 36% 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 $45,000

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 3.60% ✓
• Cap rate: 15.13%
• Cash-on-cash: 31.57%
• DSCR: 2.40
• GRM: 2.3

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: 20.0%
• Equity multiple: 1.75×
• Total profit: $9,488
• Equity at exit: $6,710

10-year hold

• IRR: 23.7%
• Equity multiple: 2.49×
• Total profit: $18,791
• Equity at exit: $3,891

Cash invested: $12,600 (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 33461

• Rents YoY: -2.5%
• Active inventory: 274
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,620 high
• Mortgage (P&I): −$236
• Tax from tax record: −$106 /mo · $1,276/yr
• Insurance: −$19
• HOA: −$587
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $331

Break-even live

Break-even rent $1,200

Max offer price $45,000

Occupancy floor 75%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2566 Garden Dr S Lake Worth Beach, FL	1.0	1.0	744	$1,395	$1.88	24d	1	0.10mi
3260 Hi St Unit B Lake Worth Beach, FL	1.0	1.0	400	$1,700	$4.25	24d	1	0.31mi
3300 Boutwell Rd Lake Worth Beach, FL	1.0–2.0	1.0–2.0	765	$1,870	$2.44	24d	1	0.56mi
3017 Buckley Ave Lake Worth, FL	2.0	1.0	720	$2,200	$3.06	24d	1	0.61mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,722	$2.51	1d	5	0.65mi
2571 Lake Worth Rd Lake Worth, FL	1.0–2.0	1.0–2.0	750	$1,378	$1.84	1d	2	0.96mi
1765 16th Ct N Lake Worth Beach, FL	—	1.0	450	$1,700	$3.78	24d	1	1.00mi
1755 Forest Hill Blvd Lake Clarke Shores, FL	1.0	1.0	662	$1,595	$2.41	7d	1	1.02mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,550	$1.82	24d	2	1.04mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,055	$2.13	1d	14	1.05mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,650	$2.00	24d	3	1.06mi
2220 Lake Worth Rd Lake Worth, FL	1.0	1.0	700	$1,779	$2.54	21d	1	1.06mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	21d	1	1.09mi
3654 Coconut Rd Palm Springs, FL	1.0	1.0	600	$1,500	$2.50	24d	1	1.13mi
300 Bonnie Blvd #144 Palm Springs, FL	1.0	1.0	702	$1,350	$1.92	24d	1	1.14mi
3901 Lakewood Rd Unit A Lake Worth Beach, FL	2.0	1.0	704	$2,000	$2.84	24d	1	1.20mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,450	$2.64	24d	1	1.29mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,375	$2.50	21d	1	1.29mi
3874 7th Ave N Unit 3878 Lake Worth Beach, FL	1.0	1.0	528	$1,600	$3.03	24d	1	1.32mi
123 Erie St Apt 10 Lake Worth, FL	1.0	1.0	600	$1,325	$2.21	24d	1	1.36mi
1201 N E St Unit 2 Lake Worth Beach, FL	1.0	1.0	600	$1,500	$2.50	24d	1	1.36mi
136 Akron St Apt B2 Lake Worth Beach, FL	1.0	1.0	599	$2,175	$3.63	24d	1	1.37mi
136 Akron St Unit A1 Lake Worth Beach, FL	1.0	1.0	599	$2,075	$3.46	24d	1	1.37mi
3890 Lakewood Rd #1 Lake Worth, FL	1.0	1.0	433	$1,500	$3.46	10d	1	1.41mi
3901 Gulfstream Rd Unit 2 B Lake Worth Beach, FL	1.0	1.0	450	$1,700	$3.78	20d	1	1.44mi
3263 Kirk Rd #2 Lake Worth, FL	1.0	1.0	619	$1,650	$2.67	24d	1	1.46mi
3263 Kirk Rd #2 Lake Worth, FL	1.0	1.0	619	$1,650	$2.67	7d	1	1.46mi

HOA detail condo

• Monthly dues: $587 · $7,044/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-04-23
   status Pending
2. 2026-04-16
   listed $45,000 Active
3. 2025-12-18
   status Pending
4. 2025-12-17
   status Active
5. 2025-12-03
   status Pending
6. 2025-12-03
   historical
7. 2025-12-02
   status Active
8. 2025-12-01
   status Pending
9. 2025-09-21
   listed $42,000 Active
10. 2025-04-21
    historical
11. 2025-01-04
    price $60,000
12. 2024-11-23
    price $65,000
13. 2024-10-20
    listed $70,000 Active
14. 2016-06-17
    soldstatus $38,500
15. 2016-06-13
    soldstatus $38,500 Closed
16. 2016-05-18
    historical Contingent
17. 2016-05-12
    listed $39,000 Active
18. 1995-04-03
    soldstatus $28,500

ⓘ 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: $1,276 · $106/mo
• Projected year-2 tax: $1,276 · $106/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 · 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: $19,436
• − Mortgage interest: −$2,521
• − Property taxes: −$1,276
• − Insurance: −$225
• − Repairs & maintenance: −$1,555
• − Management: −$1,555
• − HOA: −$7,044
• − Depreciation: −$1,309
• Taxable income: $3,951
• Est. tax owed @ 24.0%: −$948
• After-tax cash flow: $3,029/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 — Palm Springs

• Score: 73/100
• State rank: #297
• US rank: #5045

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 49,443
• Household income: $61,963
• Rent vs Own: 48.2% rent · 51.8% own
• Severe rent burden: 2663.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 59% Two or more races 26% White 20% Black 17% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 6% Cuban 16% Dominican 2%
• Common ancestry: Hispanic 9% Romanian 1% Lithuanian 1%
• Foreign-born: 52% · Canada, Jamaica
• Languages at home: 31% English-only · Spanish 54% 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: ▼ -269.03%
• Current HPI: 493.0041
• Rent YoY: ▼ -2.47%
• 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

+57.9% since first listed

18 events — show timeline

• 2026-04-23 Pending — Beaches MLS
• 2026-04-16 Listed $45,000 Beaches MLS
• 2025-12-18 Pending — Beaches MLS
• 2025-12-17 Relisted — Beaches MLS
• 2025-12-03 Pending — Beaches MLS
• 2025-12-03 Listing Removed — Beaches MLS
• 2025-12-02 Relisted — Beaches MLS
• 2025-12-01 Pending — Beaches MLS
• 2025-09-21 Listed $42,000 Beaches MLS
• 2025-04-21 Listing Removed — Beaches MLS
• 2025-01-04 Price Changed $60,000 Beaches MLS
• 2024-11-23 Price Changed $65,000 Beaches MLS
• 2024-10-20 Listed $70,000 Beaches MLS
• 2016-06-17 Sold (Public Records) $38,500 Public Records
• 2016-06-13 Sold (MLS) $38,500 Beaches MLS
• 2016-05-18 Contingent — Beaches MLS
• 2016-05-12 Listed $39,000 Beaches MLS
• 1995-04-03 Sold (Public Records) $28,500 Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,276 · -10.8% YoY. Source: county tax records.