3531 Pine Tree Ct Unit A-2 · Greenacres, FL 33463

$140,000

2 bd · 1.0 ba · 935 sqft · Condo public records · 58 Days on market

Built 1981 $415/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 +18.7/30.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 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 MLS

Investors this is the property to purchase. Tenant in place with year lease. Newer Water heater. Great location and very well maintained community for the very low monthly fee of $233.Detailed pictures were taken 12-16-2015

Key facts

• Community pool
• Serene lake views
• In unit laundry

Tags

• PRIVATE SCREENED PATIO
• IN UNIT LAUNDRY
• UPDATED KITCHEN
• UPDATED BATHROOM
• SERENE LAKE VIEWS
• COMMUNITY POOL

Property features AI

Finance

• HOA & community: Has HOA; $415 monthly; HOA includes cable TV, insurance, trash, common real estate tax; Community amenities: Pool, shuffleboard court, community room, library, maintained community, sidewalks; Senior community

Exterior

• Parking: Assigned parking; Guest parking (total 1 parking space)
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; Updated/remodeled condition; Entry level: 2; Faces east; Two total stories
• Construction: Concrete construction; Shingle roof
• Exterior features: Terrace; Waterfront: Yes (no waterfront features listed)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Unfurnished
• Laundry & utility: Laundry room on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $139 ($2k/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: 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: Liberty Park Elementary School (math 25% / reading 38%, grade F, #1,841 of 2,144 statewide, top 86%, 845 students, 76% FRL); L C Swain Middle School (math 26% / reading 33%, grade F, #469 of 571 statewide, top 84%, 1,451 students, 74% FRL) — zoned schools average 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% at this address vs 50% district-wide (-19 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 (+1.3%/yr); 346 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 32% 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 58 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 31y 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 $60k; list at $140k implies a 135% 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→26/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 58 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: 1.40% ✓
• Cap rate: 7.48%
• Cash-on-cash: 4.25%
• DSCR: 1.19
• GRM: 5.9

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: -12.1%
• Equity multiple: 0.57×
• Total profit: $-16,779
• Equity at exit: $20,874

10-year hold

• IRR: -6.6%
• Equity multiple: 0.62×
• Total profit: $-14,869
• 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: 346
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,966 high
• Mortgage (P&I): −$734
• Tax from tax record: −$206 /mo · $2,475/yr
• Insurance: −$58
• HOA: −$415
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $139

Break-even live

Break-even rent $1,790

Max offer price $140,000

Occupancy floor 88%

Sensitivity live

Price	-10% $218	-5% $179	+0% $139	+5% $99	+10% $60
Rent	-10% $-16	-5% $61	+0% $139	+5% $217	+10% $294
Rate	-1.0pp $209	-0.5pp $175	base $139	+0.5pp $103	+1.0pp $66

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
5855 S 37th St Unit 5857 Greenacres, FL	2.0	1.0	747	$1,974	$2.64	8d	1	0.15mi
3490 La Jardin Ct Unit B2 Greenacres, FL	1.0	1.0	780	$1,385	$1.78	3d	1	0.16mi
5971 La Pinata Blvd Unit B1 Greenacres, FL	2.0	1.0	920	$1,750	$1.90	25d	1	0.21mi
342 Pine Ridge Cir Unit B2 Greenacres, FL	2.0	1.5	935	$2,200	$2.35	15d	1	0.25mi
6170 Dodd Rd Unit The Greenacres, FL	2.0	2.0	1000	$2,600	$2.60	25d	1	0.40mi
6061 10th Ave N #242 Greenacres, FL	2.0	2.0	855	$2,000	$2.34	5d	1	0.46mi
6031 10th Ave N #219 Greenacres, FL	3.0	2.0	1078	$2,400	$2.23	4d	1	0.49mi
4181 S 57th Ave Unit D Greenacres, FL	2.0	2.0	847	$1,850	$2.18	25d	1	0.64mi
4191 S 57th Ave Unit H Greenacres, FL	2.0	2.0	847	$1,750	$2.07	25d	1	0.64mi
4205 S 57th Ave Unit G Greenacres, FL	2.0	2.0	1046	$1,900	$1.82	25d	1	0.66mi
826 Sky Pine Way Greenacres, FL	2.0–3.0	2.0	1304	$1,800	$1.38	13d	2	0.70mi
5775 Fernley Dr W #131 West Palm Beach, FL	2.0	2.0	1072	$2,000	$1.87	11d	1	0.72mi
813 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1111	$1,725	$1.55	15d	1	0.73mi
813 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1111	$1,725	$1.55	3d	1	0.73mi
712 Sunny Pine Way Greenacres, FL	2.0	2.0	1068	$2,150	$2.01	25d	1	0.75mi
812 Sky Pine Way Greenacres, FL	2.0	2.0	1064	$2,100	$1.97	25d	1	0.75mi
811 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1064	$1,550	$1.46	20d	1	0.78mi
802 Sky Pine Way Unit E2 Greenacres, FL	2.0	2.0	1111	$1,750	$1.58	8d	1	0.80mi
629 Sea Pine Way Unit D3 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	22d	1	0.82mi
718 Sunny Pine Way Unit H2 Greenacres, FL	2.0	2.0	1111	$2,000	$1.80	5d	1	0.82mi
718 Sunny Pine Way Unit H2 Greenacres, FL	2.0	2.0	1111	$2,000	$1.80	21d	1	0.82mi
3350 Perimeter Dr #1323 Greenacres, FL	2.0	2.0	1059	$1,975	$1.86	2d	1	0.83mi
3386 Lucerne Park Dr Greenacres, FL	2.0	2.0	1059	$1,950	$1.84	25d	1	0.83mi
720 Sunny Pine Way Unit G1 Greenacres, FL	2.0	2.0	1111	$2,000	$1.80	20d	1	0.85mi
2980 Crosley Dr E Unit F West Palm Beach, FL	2.0	1.0	829	$1,600	$1.93	25d	1	0.85mi
628 Sea Pine Way Unit A2 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	17d	1	0.86mi
2715 Emory Dr W Unit C West Palm Beach, FL	1.0	1.5	661	$1,425	$2.16	18d	1	0.86mi
703 Sunny Pine Way Unit G2 Greenacres, FL	2.0	2.0	1068	$2,000	$1.87	15d	1	0.87mi
2647 Emory Dr W Unit C West Palm Beach, FL	1.0	1.0	612	$1,250	$2.04	25d	1	0.92mi
2625 Emory Dr W Unit F West Palm Beach, FL	2.0	2.0	895	$1,700	$1.90	25d	1	0.95mi
2783 Dudley Dr E Unit D West Palm Beach, FL	2.0	2.0	910	$1,650	$1.81	17d	1	0.96mi
703 Sunny Pine Way Greenacres, FL	2.0	2.0	1068	$1,900	$1.78	25d	2	0.96mi
2854 Crosley Dr E Unit J West Palm Beach, FL	1.0	1.0	612	$1,300	$2.12	25d	1	0.97mi
2805 Crosley Dr E Unit E West Palm Beach, FL	1.0	1.5	662	$1,250	$1.89	25d	1	0.98mi
2723 Dudley Dr W Unit G West Palm Beach, FL	1.0	1.0	611	$1,300	$2.13	25d	1	0.98mi
724 Sunny Pine Way Unit D2 Greenacres, FL	2.0	2.0	1111	$1,950	$1.76	25d	1	0.98mi
3045 Jackson Ave Greenacres, FL	2.0	1.0	900	$1,775	$1.97	25d	1	0.99mi
1600 Island Shores Dr Greenacres, FL	1.0–2.0	1.0–2.0	889	$1,925	$2.17	25d	2	1.00mi
4904 Dillon St Unit C Greenacres, FL	1.0	1.0	699	$1,450	$2.07	25d	1	1.00mi
2515 Emory Dr W Unit A West Palm Beach, FL	2.0	2.0	895	$1,750	$1.96	25d	1	1.01mi

HOA detail condo

• Monthly dues: $415 · $4,980/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-04
   days on market $140,000 Active 58 DOM
2. 2026-06-03
   days on market $140,000 Active 57 DOM
3. 2026-06-02
   days on market $140,000 Active 56 DOM
4. 2026-06-01
   days on market $140,000 Active 55 DOM
5. 2026-05-31
   days on market $140,000 Active 54 DOM
6. 2026-04-07
   listed $140,000 Active
7. 2024-10-16
   historical $1,500
8. 2024-08-29
   historical $1,500
9. 2024-08-28
   listed $1,500
10. 2024-08-20
    historical $1,550
11. 2024-08-19
    listed $1,550
12. 2024-08-19
    price $1,500
13. 2024-08-18
    price $1,550
14. 2024-08-04
    price $1,600
15. 2024-07-30
    price $1,651
16. 2024-07-25
    price $1,650
17. 2024-07-23
    listed $1,750
18. 2016-02-22
    soldstatus $59,600
19. 2016-02-11
    soldstatus $59,600 Closed 223-char remark

    Show marketing remark (223 chars)

    Investors this is the property to purchase. Tenant in place with year lease. Newer Water heater. Great location and very well maintained community for the very low monthly fee of $233.Detailed pictures were taken 12-16-2015

20. 2016-01-16
    historical Contingent 223-char remark

    Show marketing remark (223 chars)

    Investors this is the property to purchase. Tenant in place with year lease. Newer Water heater. Great location and very well maintained community for the very low monthly fee of $233.Detailed pictures were taken 12-16-2015

21. 2015-12-09
    listed $62,500 Active 223-char remark

    Show marketing remark (223 chars)

    Investors this is the property to purchase. Tenant in place with year lease. Newer Water heater. Great location and very well maintained community for the very low monthly fee of $233.Detailed pictures were taken 12-16-2015

22. 2008-09-12
    historical
23. 1998-05-02
    historical
24. 1998-01-05
    listed $37,500
25. 1995-11-08
    listed $42,000
26. 1980-09-01
    soldstatus $38,300

ⓘ 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: $2,475 · $206/mo
• Projected year-2 tax: $2,475 · $206/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 9/10 Extreme 7 d/yr ≥105°F today · 26 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: $23,586
• − Mortgage interest: −$7,842
• − Property taxes: −$2,475
• − Insurance: −$700
• − Repairs & maintenance: −$1,887
• − Management: −$1,887
• − HOA: −$4,980
• − Depreciation: −$4,073
• Taxable loss: −$258
• Est. tax savings @ 24.0%: +$62
• After-tax cash flow: $1,730/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

+265.5% since first listed

21 events — show timeline

• 2026-04-07 Listed $140,000 Beaches MLS
• 2024-10-16 Rental Removed $1,500 RMLSFL
• 2024-08-29 Rental Removed $1,500 GFLMLS
• 2024-08-28 Listed for Rent $1,500 GFLMLS
• 2024-08-20 Rental Removed $1,550 GFLMLS
• 2024-08-19 Listed for Rent $1,550 GFLMLS
• 2024-08-19 Price Changed $1,500 RMLSFL
• 2024-08-18 Price Changed $1,550 RMLSFL
• 2024-08-04 Price Changed $1,600 RMLSFL
• 2024-07-30 Price Changed $1,651 RMLSFL
• 2024-07-25 Price Changed $1,650 RMLSFL
• 2024-07-23 Listed for Rent $1,750 RMLSFL
• 2016-02-22 Sold (Public Records) $59,600 Public Records
• 2016-02-11 Sold (MLS) $59,600 Beaches MLS
• 2016-01-16 Contingent — Beaches MLS
• 2015-12-09 Listed $62,500 Beaches MLS
• 2008-09-12 Listing Removed — Beaches MLS
• 1998-05-02 Listing Removed — Beaches MLS
• 1998-01-05 Listed $37,500 Beaches MLS
• 1995-11-08 Listed $42,000 Beaches MLS
• 1980-09-01 Sold (Public Records) $38,300 Public Records

Property tax history

+9.2%/yr

Latest (2025): $2,475 · +4.0% YoY. Source: county tax records.