2581 N Garden Dr #206 · Palm Springs, FL 33461

$115,900

1 bd · 1.0 ba · 744 sqft · Condo public records · 295 Days on market

Built 1968 $575/mo HOA · 35% 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 +11.9/30.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• DSCR +3.5/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 2581 N Garden Drive, Unit 206, a beautifully updated and fully furnished 1-bedroom, 1-bath residence in a vibrant 55+ community. This move-in ready home offers comfort and style with modern finishes throughout. Enjoy a bright and inviting living space, a well-appointed kitchen, and a serene bedroom retreat. The community features an array of amenities designed for an active lifestyle, including a clubhouse, pool, and social activities. Conveniently located near shopping, dining, and entertainment, this is the perfect place to call home.

Key facts

• Clubhouse
• Pool
• Fully furnished

Tags

• FULLY FURNISHED
• CLUBHOUSE
• POOL

Property features AI

Finance

• Other: Building name/number: 2581; Living area reported as 744 (source: public records)
• Financial info: No additional financial details provided
• HOA & community: HOA with monthly fee; HOA amenities include clubhouse, fitness center, game room, picnic area, pool, shuffleboard court, manager on site, community room, and sidewalks; Monthly HOA fee: 575; Senior community

Exterior

• Parking: Assigned parking; Guest parking; 1 open parking space
• Security: No security details provided
• Utilities: Cable available
• Home design: Condominium; Resale property; 3-story building; Faces west; Public road frontage
• Construction: CBS construction
• Exterior features: Sidewalks; Not waterfront

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 1 bedroom on main level
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Central heating; Central air conditioning (electric)
• Interior features: Walk-in closet(s); Furnished
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $116k.

Deal economics

• At list price, monthly cash flow is $-31 ($-368/yr) — negative.
• To cash-flow at today's rent, offer at most $110k (4.7% below list).
• Meets the 1% rule at list price ($2k rent vs $116k).
• Recommended offer: $102k (12.0% below list) — sets the bar for market timing.

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); Conniston Middle School (math 35% / reading 38%, grade F, #405 of 571 statewide, top 72%, 1,075 students, 74% FRL); Forest Hill Community High School (math 20% / reading 41%, grade F, #434 of 667 statewide, top 66%, 2,407 students, 66% FRL) — zoned schools average 68% FRL vs 52% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.5%/yr); 276 active listings in the ZIP; 28 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).
• This rent runs 32% 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 $801 of loan paydown is wiped out by about $3k 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 295 days — a 12% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 11y ago; this cycle's ask is 7259% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 35% 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 $101,992 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 295 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.43% ✓
• Cap rate: 5.98%
• Cash-on-cash: -1.13%
• DSCR: 0.95
• GRM: 5.8

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: -23.7%
• Equity multiple: 0.22×
• Total profit: $-25,226
• Equity at exit: $17,281

10-year hold

• IRR: -46.6%
• Equity multiple: -0.29×
• Total profit: $-41,774
• Equity at exit: $10,021

Cash invested: $32,452 (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: 276
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,654 high
• Mortgage (P&I): −$608
• Tax from tax record: −$106 /mo · $1,275/yr
• Insurance: −$48
• HOA: −$575
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $-31

Break-even live

Break-even rent $1,693

Max offer price $110,484

Occupancy floor 97%

Sensitivity live

Price	-10% $35	-5% $2	+0% $-31	+5% $-63	+10% $-96
Rent	-10% $-161	-5% $-96	+0% $-31	+5% $35	+10% $100
Rate	-1.0pp $28	-0.5pp $-1	base $-31	+0.5pp $-61	+1.0pp $-91

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: $28,975
• Closing costs: $3,477
• Reserves months: —
• Total cash needed: —

Rent comps 28 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	26d	1	0.18mi
3045 Springfield Ln Unit 3043 Lake Worth Beach, FL	1.0	1.0	500	$1,625	$3.25	1d	1	0.23mi
2724 Garden Dr S #207 Lake Worth, FL	1.0	1.0	744	$1,850	$2.49	0d	1	0.26mi
3260 Hi St Unit B Lake Worth Beach, FL	1.0	1.0	400	$1,700	$4.25	26d	1	0.55mi
3300 Boutwell Rd Lake Worth Beach, FL	1.0–2.0	1.0–2.0	765	$1,870	$2.44	26d	1	0.64mi
1755 Forest Hill Blvd Lake Clarke Shores, FL	1.0	1.0	662	$1,595	$2.41	9d	1	0.78mi
3017 Buckley Ave Lake Worth, FL	2.0	1.0	720	$2,200	$3.06	26d	1	0.84mi
1765 16th Ct N Lake Worth Beach, FL	—	1.0	450	$1,700	$3.78	26d	1	0.85mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,722	$2.51	3d	5	0.86mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,130	$2.21	0d	12	0.92mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,550	$1.82	26d	2	1.01mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,650	$2.00	26d	3	1.02mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	23d	1	1.06mi
300 Bonnie Blvd #144 Palm Springs, FL	1.0	1.0	702	$1,350	$1.92	26d	1	1.11mi
2571 Lake Worth Rd Lake Worth, FL	1.0–2.0	1.0–2.0	750	$1,378	$1.84	3d	2	1.16mi
2220 Lake Worth Rd Lake Worth, FL	1.0	1.0	700	$1,779	$2.54	23d	1	1.22mi
1201 N E St Unit 2 Lake Worth Beach, FL	1.0	1.0	600	$1,500	$2.50	26d	1	1.28mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,450	$2.64	26d	1	1.31mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,375	$2.50	23d	1	1.31mi
3654 Coconut Rd Palm Springs, FL	1.0	1.0	600	$1,500	$2.50	26d	1	1.35mi
3901 Lakewood Rd Unit A Lake Worth Beach, FL	2.0	1.0	704	$2,000	$2.84	26d	1	1.43mi
1601 N Dixie Hwy Lake Worth Beach, FL	1.0–2.0	1.0–2.0	831	$1,785	$2.15	1d	6	1.43mi
1715 N Dixie Hwy Lake Worth Beach, FL	1.0–3.0	1.0–2.0	1014	$1,850	$1.82	26d	11	1.45mi
123 Erie St Apt 10 Lake Worth, FL	1.0	1.0	600	$1,325	$2.21	26d	1	1.48mi
136 Akron St Unit A1 Lake Worth Beach, FL	1.0	1.0	599	$2,075	$3.46	26d	1	1.49mi
136 Akron St Apt B2 Lake Worth Beach, FL	1.0	1.0	599	$2,175	$3.63	26d	1	1.49mi
1118 N H St Unit 15 Lake Worth Beach, FL	1.0	1.0	483	$1,550	$3.21	15d	1	1.50mi
920 11th Ave N Unit 912 Lake Worth Beach, FL	1.0	1.0	600	$1,100	$1.83	22d	1	1.50mi

HOA detail condo

• Monthly dues: $575 · $6,900/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-21
   days on market $115,900 Active 295 DOM
2. 2026-06-18
   days on market $115,900 Active 292 DOM
3. 2026-06-17
   days on market $115,900 Active 291 DOM
4. 2026-06-16
   days on market $115,900 Active 290 DOM
5. 2026-06-15
   days on market $115,900 Active 289 DOM
6. 2026-06-13
   days on market $115,900 Active 287 DOM
7. 2026-06-09
   days on market $115,900 Active 283 DOM
8. 2026-06-07
   days on market $115,900 Active 281 DOM
9. 2026-06-04
   days on market $115,900 Active 278 DOM
10. 2026-06-03
    days on market $115,900 Active 277 DOM
11. 2026-06-01
    days on market $115,900 Active 275 DOM
12. 2026-05-31
    days on market $115,900 Active 274 DOM
13. 2026-04-09
    listed $1,575
14. 2026-04-09
    historical $1,575
15. 2026-04-09
    listed $1,575
16. 2026-03-31
    historical $1,575
17. 2026-01-28
    price $115,900
18. 2025-08-31
    listed $1,575
19. 2025-08-29
    listed $124,000 Active
20. 2025-06-24
    historical
21. 2025-05-19
    historical $1,650
22. 2025-01-07
    listed $1,650
23. 2025-01-07
    historical $1,650
24. 2025-01-04
    listed $1,650
25. 2024-12-20
    historical $1,850
26. 2024-08-28
    listed $1,850
27. 2024-08-28
    historical $2,250
28. 2024-08-13
    listed $2,250
29. 2024-08-12
    price $124,000
30. 2024-06-24
    listed $129,000 Active
31. 2024-05-02
    historical
32. 2024-02-26
    price $129,000
33. 2024-01-19
    price $129,700
34. 2023-12-22
    price $129,800
35. 2023-11-17
    price $129,895
36. 2023-11-09
    price $129,896
37. 2023-11-02
    price $129,897
38. 2023-10-28
    price $129,898
39. 2023-10-16
    price $129,899
40. 2023-09-27
    price $129,900
41. 2023-09-01
    price $137,900
42. 2023-06-07
    price $149,900
43. 2023-05-25
    listed $154,900 Active
44. 2022-09-02
    soldstatus $119,200
45. 2022-08-24
    soldstatus $119,200 Closed
46. 2022-07-22
    historical Active Under Contract
47. 2022-07-11
    listed $135,990 Active
48. 2022-06-08
    historical
49. 2022-05-21
    status Active
50. 2022-05-19
    status Pending

ⓘ 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: $1,275 · $106/mo
• Projected year-2 tax: $1,275 · $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 · 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: $19,849
• − Mortgage interest: −$6,492
• − Property taxes: −$1,275
• − Insurance: −$580
• − Repairs & maintenance: −$1,588
• − Management: −$1,588
• − HOA: −$6,900
• − Depreciation: −$3,372
• Taxable loss: −$1,946
• Est. tax savings @ 24.0%: +$467
• After-tax cash flow: $99/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
• City population: 49,443
• 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

-92.3% since first listed

61 events — show timeline

• 2026-04-09 Listed for Rent $1,575 RMLSFL
• 2026-04-09 Rental Removed $1,575 GFLMLS
• 2026-04-09 Listed for Rent $1,575 GFLMLS
• 2026-03-31 Rental Removed $1,575 RMLSFL
• 2026-01-28 Price Changed $115,900 Beaches MLS
• 2025-08-31 Listed for Rent $1,575 RMLSFL
• 2025-08-29 Listed $124,000 Beaches MLS
• 2025-06-24 Listing Removed — Beaches MLS
• 2025-05-19 Rental Removed $1,650 RMLSFL
• 2025-01-07 Listed for Rent $1,650 RMLSFL
• 2025-01-07 Rental Removed $1,650 GFLMLS
• 2025-01-04 Listed for Rent $1,650 GFLMLS
• 2024-12-20 Rental Removed $1,850 RMLSFL
• 2024-08-28 Listed for Rent $1,850 RMLSFL
• 2024-08-28 Rental Removed $2,250 GFLMLS
• 2024-08-13 Listed for Rent $2,250 GFLMLS
• 2024-08-12 Price Changed $124,000 Beaches MLS
• 2024-06-24 Listed $129,000 Beaches MLS
• 2024-05-02 Listing Removed — Beaches MLS
• 2024-02-26 Price Changed $129,000 Beaches MLS
• 2024-01-19 Price Changed $129,700 Beaches MLS
• 2023-12-22 Price Changed $129,800 Beaches MLS
• 2023-11-17 Price Changed $129,895 Beaches MLS
• 2023-11-09 Price Changed $129,896 Beaches MLS
• 2023-11-02 Price Changed $129,897 Beaches MLS
• 2023-10-28 Price Changed $129,898 Beaches MLS
• 2023-10-16 Price Changed $129,899 Beaches MLS
• 2023-09-27 Price Changed $129,900 Beaches MLS
• 2023-09-01 Price Changed $137,900 Beaches MLS
• 2023-06-07 Price Changed $149,900 Beaches MLS
• 2023-05-25 Listed $154,900 Beaches MLS
• 2022-09-02 Sold (Public Records) $119,200 Public Records
• 2022-08-24 Sold (MLS) $119,200 Beaches MLS
• 2022-07-22 Contingent — Beaches MLS
• 2022-07-11 Listed $135,990 Beaches MLS
• 2022-06-08 Listing Removed — Beaches MLS
• 2022-05-21 Relisted — Beaches MLS
• 2022-05-19 Pending — Beaches MLS
• 2022-05-07 Listed $145,000 Beaches MLS
• 2022-01-21 Sold (Public Records) $87,500 Public Records
• 2022-01-10 Sold (MLS) $87,500 Beaches MLS
• 2021-12-21 Pending — Beaches MLS
• 2021-11-20 Listed $90,000 Beaches MLS
• 2020-12-18 Listing Removed — Beaches MLS
• 2020-08-06 Relisted — Beaches MLS
• 2020-07-08 Contingent — Beaches MLS
• 2019-12-18 Price Changed $69,000 Beaches MLS
• 2019-12-17 Listed $79,900 Beaches MLS
• 2019-09-25 Pending — Beaches MLS
• 2019-09-25 Listing Removed — Beaches MLS
• 2019-03-11 Listed $79,900 Beaches MLS
• 2019-03-04 Listing Removed — Beaches MLS
• 2019-02-07 Listed $79,900 Beaches MLS
• 2018-01-29 Listing Removed — Beaches MLS
• 2017-10-12 Listed $98,000 Beaches MLS
• 2015-09-08 Sold (MLS) $24,000 Beaches MLS
• 2015-07-22 Pending — Beaches MLS
• 2015-06-22 Price Changed $23,900 Beaches MLS
• 2015-05-19 Price Changed $26,000 Beaches MLS
• 2015-04-15 Listed $29,900 Beaches MLS
• 1996-03-21 Sold (Public Records) $20,500 Public Records

Property tax history

+14.1%/yr

Latest (2025): $1,275 · -24.1% YoY. Source: county tax records.