1107 Green Pine Blvd Unit B1 · West Palm Beach, FL 33409

$199,000

2 bd · 2.0 ba · 1,104 sqft · Condo public records · 165 Days on market

Built 1984 $571/mo HOA · 19% 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 +24.2/30.0
• 1% rule +10.0/10.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Owner Financing First Floor Condo On The Lake, Screened Covered Patio, Manned Gated Community. Storage Shed, 15 Minutes To The Beach, 5 Minutes To All Shopping. Electric, Water, Sewer And Basic Cable Included. Community Name Is Palm Club

Key facts

• $571 HOA
• Community pool
• Built 1984

Property features AI

Finance

• Other: Pets allowed (may have number/size limits and other restrictions)
• HOA & community: Community of approximately 350 units; Monthly HOA fee; Community amenities include clubhouse, pool, playground, and tennis courts; HOA covers insurance, grounds maintenance, security, common areas, and common real estate tax

Exterior

• Parking: Assigned parking; Guest parking
• Security: Gated community with guard
• Utilities: Public water; Public sewer; Cable available; Water and sewer available
• Home design: Condominium; Multi/split levels; Resale; Faces southeast; 3 total stories; Built by K. Hovnanian Homes
• Construction: CBS construction; Composition/shingle roof
• Exterior features: Covered patio; Screened patio; Patio; Waterfront

Interior

• Kitchen: Dishwasher; Disposal; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms (1 on the main level)
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Walk-in closet(s); Single-hung metal windows
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/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: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.8% in West Palm Beach — 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 82/100 on livability (#75 in FL, #1,255 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, crime 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: Seminole Trails Elementary School (math 26% / reading 36%, grade F, #1,854 of 2,144 statewide, top 87%, 650 students, 73% FRL); Bear Lakes Middle School (math 19% / reading 33%, grade F, #506 of 571 statewide, top 89%, 842 students, 74% FRL); Palm Beach Lakes High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 2,688 students, 70% FRL) — zoned schools average 72% FRL vs 52% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 50% district-wide (-23 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.1%/yr); 194 active listings in the ZIP; 10 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).
• At $3,011/mo this rent would consume 54% of the median local household income ($67k/yr) (locally 1333% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 165 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask is 10374% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $40k; list at $199k implies a 398% 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 $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% 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. 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.51% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.57%
• DSCR: 1.38
• GRM: 5.5

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: -7.8%
• Equity multiple: 0.73×
• Total profit: $-15,321
• Equity at exit: $29,672

10-year hold

• IRR: -4.4%
• Equity multiple: 0.76×
• Total profit: $-13,127
• Equity at exit: $17,206

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 33409

• Home prices YoY: -25.6%
• Rents YoY: -0.1%
• Active inventory: 194
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $3,011 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$283 /mo · $3,401/yr
• Insurance: −$83
• HOA: −$571
• Vacancy / Maint / Mgmt: −$632
• Net cashflow: $398

Break-even live

Break-even rent $2,507

Max offer price $199,000

Occupancy floor 82%

Sensitivity live

Price	-10% $510	-5% $454	+0% $398	+5% $341	+10% $285
Rent	-10% $160	-5% $279	+0% $398	+5% $517	+10% $636
Rate	-1.0pp $498	-0.5pp $448	base $398	+0.5pp $346	+1.0pp $294

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 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	26d	1	0.35mi
1211 Pine Sage Cir West Palm Beach, FL	3.0	2.0	1367	$3,200	$2.34	7d	1	0.37mi
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	26d	1	0.74mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$2,528	$2.07	19d	60	0.85mi
4385 Willow Brook Cir West Palm Beach, FL	3.0	2.0	1468	$3,200	$2.18	23d	1	0.86mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	26d	1	1.15mi
2400 Presidential Way #1906 West Palm Beach, FL	1.0	2.0	1294	$3,000	$2.32	26d	1	1.21mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	17d	1	1.24mi
1991 Presidential Way West Palm Beach, FL	1.0	1.0	827	$3,427	$4.14	9d	1	1.24mi
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	26d	1	1.28mi

HOA detail condo

• Monthly dues: $571 · $6,852/yr
• Likely covers: watersewerelectriccablesecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-09
   days on market $199,000 Active 165 DOM
2. 2026-06-07
   days on market $199,000 Active 163 DOM
3. 2026-06-04
   days on market $199,000 Active 160 DOM
4. 2026-06-03
   days on market $199,000 Active 159 DOM
5. 2026-06-01
   days on market $199,000 Active 157 DOM
6. 2026-05-31
   days on market $199,000 Active 156 DOM
7. 2026-05-12
   listed $1,900
8. 2026-04-02
   price $199,000
9. 2025-12-26
   status Active
10. 2025-10-22
    historical
11. 2025-10-22
    listed $239,000 Active
12. 2025-03-31
    historical
13. 2025-03-29
    historical $1,950
14. 2025-03-19
    status Active
15. 2025-03-19
    historical
16. 2025-03-01
    listed $239,000 Active
17. 2025-02-23
    listed $1,950
18. 2025-02-22
    historical
19. 1995-02-09
    soldstatus $40,000
20. 1984-08-01
    soldstatus $51,500
21. 1984-08-01
    soldstatus $51,500

ⓘ 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: $3,401 · $283/mo
• Projected year-2 tax: $3,401 · $283/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 · 25 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: $36,131
• − Mortgage interest: −$11,147
• − Property taxes: −$3,401
• − Insurance: −$995
• − Repairs & maintenance: −$2,890
• − Management: −$2,890
• − HOA: −$6,852
• − Depreciation: −$5,789
• Taxable income: $2,166
• Est. tax owed @ 24.0%: −$520
• After-tax cash flow: $4,253/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 — West Palm Beach

• Score: 82/100
• State rank: #75
• US rank: #1255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,489
• Household income: $67,073
• Rent vs Own: 55.3% rent · 44.7% own
• Severe rent burden: 1333.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 36% Black 31% White 27% Two or more races 21% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 8% Dominican 1%
• Common ancestry: Hispanic 8% Romanian 1% Lithuanian 1%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 55% English-only · Spanish 30% 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: ▼ -128.54%
• Current HPI: 374.2506
• Rent YoY: ▼ -0.15%
• 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

-96.3% since first listed

15 events — show timeline

• 2026-05-12 Listed for Rent $1,900 RMLSFL
• 2026-04-02 Price Changed $199,000 Beaches MLS
• 2025-12-26 Relisted — Beaches MLS
• 2025-10-22 Listing Removed — Beaches MLS
• 2025-10-22 Listed $239,000 Beaches MLS
• 2025-03-31 Listing Removed — Beaches MLS
• 2025-03-29 Rental Removed $1,950 RMLSFL
• 2025-03-19 Relisted — Beaches MLS
• 2025-03-19 Listing Removed — Beaches MLS
• 2025-03-01 Listed $239,000 Beaches MLS
• 2025-02-23 Listed for Rent $1,950 RMLSFL
• 2025-02-22 Coming Soon — Beaches MLS
• 1995-02-09 Sold (Public Records) $40,000 Public Records
• 1984-08-01 Sold (Public Records) $51,500 Public Records
• 1984-08-01 Sold (Public Records) $51,500 Public Records

Property tax history

+7.7%/yr

Latest (2025): $3,401 · +5.6% YoY. Source: county tax records.