3502 Gardens Dr E · Palm Beach Gardens, FL 33410

$310,000

2 bd · 1.5 ba · 1,157 sqft · Townhouse · 1 Days on market

Built 1978 Good condition Est $260k · 19% over $425/mo HOA · 12% 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).

• Cash flow +18.0/30.0
• 1% rule +6.6/10.0
• DSCR +5.6/10.0
• Schools +4.3/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +3.1/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Discover the hidden charm of Cedar Gardens — a quaint townhome community perfectly positioned in the heart of Palm Beach Gardens. Offering spacious floorplans, private outdoor spaces, and a peaceful neighborhood feel, Cedar Gardens combines comfort, convenience, and affordability in one of Palm Beach County's most sought-after locations. Residents enjoy easy access to upscale shopping, fine dining, beautiful beaches, championship golf, and top-rated schools, all just minutes away. With its central location near PGA Boulevard, I-95, and the Turnpike, Cedar Gardens provides the perfect balance of quiet residential living and everyday convenience. Whether you're searching for a primary r

Key facts

• Fine dining
• Beautiful beaches
• Townhome community

Tags

• TOWNHOME COMMUNITY
• PRIVATE OUTDOOR SPACES
• PEACEFUL NEIGHBORHOOD
• UPSCALE SHOPPING
• FINE DINING
• BEAUTIFUL BEACHES

Property features AI

Finance

• Other: Pets allowed with restrictions and limits
• HOA & community: Association: Cedar Gardens; Quarterly HOA fee (covers maintenance of grounds, water, sewer, common real estate tax, legal/accounting); Community amenities include car wash area, parking, and maintained common areas

Exterior

• Parking: 2 assigned open parking spaces
• Utilities: Public water; Public sewer; Water available
• Home design: Townhouse; Two levels; Entry level living area; Faces north
• Construction: Concrete block with stucco construction; Mansard and tar/gravel roof with wood truss/rafter; Built as part of building 3502
• Exterior features: Covered patio; Screened patio; Patio; Fenced yard with gate; Not waterfront

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Electric fireplace; Unfurnished; Disposal
• Laundry & utility: Laundry inside; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $310k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $310k).

Location & tenants

• Location reads 69/100 on livability (#464 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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: Allamanda Elementary School (math 52% / reading 58%, grade C, #872 of 2,144 statewide, top 42%, 630 students, 48% FRL); Howell L. Watkins Middle School (math 18% / reading 33%, grade F, #512 of 571 statewide, top 90%, 794 students, 76% FRL); Palm Beach Gardens High School (math 19% / reading 40%, grade F, #447 of 667 statewide, top 68%, 2,570 students, 61% FRL).
• Zoned-school proficiency averages 37% at this address vs 50% district-wide (-13 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 rising (+2.5%/yr); 303 active listings in the ZIP; 23 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).
• At $3,586/mo this rent would consume 46% of the median local household income ($95k/yr) (locally 1429% 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 $2k of loan paydown is wiped out by about $9k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

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 $310,000

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 1.16% ✓
• Cap rate: 7.32%
• Cash-on-cash: 3.67%
• DSCR: 1.16
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $260,325
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3404 E Gardens East Dr E Unit 25a	0.12mi	2/2.0	1,000 (-14%)	18mo	$225,000	$225	55

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.49% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.60×
• Total profit: $-34,841
• Equity at exit: $46,222

10-year hold

• IRR: -2.6%
• Equity multiple: 0.83×
• Total profit: $-14,723
• Equity at exit: $26,803

Cash invested: $86,800 (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 33410

• Rents YoY: 2.5%
• Active inventory: 303
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $3,586 high
• Mortgage (P&I): −$1,626
• Tax est. 1.5%: −$388 /mo · $4,650/yr
• Insurance: −$129
• HOA: −$425
• Vacancy / Maint / Mgmt: −$753
• Net cashflow: $265

Break-even live

Break-even rent $3,250

Max offer price $310,000

Occupancy floor 88%

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2750 Rio Vista Blvd Palm Beach Gardens, FL	1.0–2.0	1.0–2.0	925	$2,999	$3.24	3d	27	0.10mi
7102 Geminata Oak Ct Unit 7102 Palm Beach Gardens, FL	2.0	2.0	1152	$3,200	$2.78	7d	1	0.51mi
10201 Chapman Oak Ct Palm Beach Gardens, FL	2.0	2.0	1152	$4,000	$3.47	24d	1	0.52mi
3660 RCA Blvd Palm Beach Gardens, FL	1.0–2.0	1.0–2.0	1524	$6,849	$4.49	1d	30	0.64mi
11011 Legacy Dr #306 Palm Beach Gardens, FL	2.0	2.0	1403	$4,350	$3.10	24d	1	0.70mi
11024 Legacy Dr #104 Palm Beach Gardens, FL	2.0	2.0	1345	$6,000	$4.46	24d	1	0.76mi
11028 Legacy Dr #203 Palm Beach Gardens, FL	2.0	2.0	1309	$4,000	$3.06	24d	1	0.78mi
11023 Legacy Ln #204 Palm Beach Gardens, FL	2.0	2.0	1309	$3,500	$2.67	24d	1	0.85mi
11021 Legacy Ln #303 Palm Beach Gardens, FL	2.0	2.0	1403	$2,950	$2.10	24d	1	0.88mi
2539 Wabash Dr West Palm Beach, FL	3.0	2.5	1468	$5,500	$3.75	24d	1	0.92mi
908 Lighthouse Dr North Palm Beach, FL	3.0	2.0	1478	$4,250	$2.88	24d	1	0.97mi
913 Lighthouse Dr North Palm Beach, FL	3.0	2.5	1092	$5,900	$5.40	24d	1	1.00mi
3955 Design Center Dr Palm Beach Gardens, FL	3.0	1.0–2.0	996	$3,514	$3.53	1d	25	1.02mi
4120 Union Square Blvd Palm Beach Gardens, FL	1.0–3.0	1.0–2.0	1035	$2,632	$2.54	1d	92	1.03mi
9446 Birmingham Dr Palm Beach Gardens, FL	3.0	2.0	1092	$3,250	$2.98	4d	1	1.09mi
700 Sanctuary Cove Dr West Palm Beach, FL	1.0–3.0	1.0–2.0	1120	$2,602	$2.32	1d	55	1.12mi
9507 Bellewood St Palm Beach Gardens, FL	3.0	2.0	1200	$5,000	$4.17	19d	1	1.17mi
4295 Crestdale St Palm Beach Gardens, FL	3.0	2.0	1366	$4,500	$3.29	24d	1	1.26mi
4292 Birdwood St Palm Beach Gardens, FL	3.0	2.0	1232	$3,800	$3.08	24d	1	1.32mi
4358 Birdwood St Palm Beach Gardens, FL	3.0	2.0	1232	$5,000	$4.06	24d	1	1.36mi
2545 Conroy Dr West Palm Beach, FL	3.0	2.0	1066	$3,295	$3.09	24d	1	1.42mi
2396 Easy St Unit A Palm Beach Gardens, FL	2.0	1.0	948	$3,500	$3.69	24d	1	1.42mi
9147 Reed Dr Unit A Palm Beach Gardens, FL	3.0	2.0	1400	$3,400	$2.43	4d	1	1.49mi

HOA detail

• Monthly dues: $425 · $5,100/yr

Listing history 1 events

1. 2026-05-24
   listed $310,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥106°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: $43,030
• − Mortgage interest: −$17,365
• − Property taxes: −$4,650
• − Insurance: −$1,550
• − Repairs & maintenance: −$3,442
• − Management: −$3,442
• − HOA: −$5,100
• − Depreciation: −$9,018
• Taxable loss: −$1,538
• Est. tax savings @ 24.0%: +$369
• After-tax cash flow: $3,555/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained townhouse in Cedar Gardens offers a good investment opportunity with minimal repairs needed.

Value-add opportunities

• Both Paint exterior walls — Enhances curb appeal and value
• Both Replace tile flooring — Modernizes the space and improves durability
• Both Upgrade HVAC system — Improves comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior walls — Enhances curb appeal and value ↑
• Both Replace tile flooring — Modernizes the space and improves durability ↑
• Both Upgrade HVAC system — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 Beach Gardens

• Score: 69/100
• State rank: #464
• US rank: #8366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Beach Gardens, FL
• County: Palm Beach County · 1,438,312 people
• City population: 96,294
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 36,759
• Household income: $94,530
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 1429.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 15% Two or more races 13% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 17% · Canada, Jamaica, Vietnam
• Languages at home: 78% English-only · Spanish 13% French/Haitian/Cajun 3% 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: ▼ -346.12%
• Current HPI: 375.5381
• Rent YoY: ▲ 2.49%
• 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

1 event — show timeline

• 2026-05-24 Listed $310,000 Beaches MLS