1109 Duncan Cir #203 · Palm Beach Gardens, FL 33418

$299,500

2 bd · 2.0 ba · 1,035 sqft · Condo public records · 1 Days on market

Built 1985 $660/mo HOA · 16% 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 +27.3/30.0
• DSCR +9.5/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SHOW LEAVE MESSAGE - ALEX 624-8122 THEN USE LOCK BOX, CATHEDRAL CEILINGS, BRING ALL OFFERS - OWNER SAYS SELL!, SMALL POODLE, RITA-DON'T LET OUT ''REDUCED - ''''AS IS'''' - GOOD CONDITION'' BRING ALL OFFERS - OWNER SAYS SELL!!

Key facts

• Minutes from beaches
• Minutes from golf
• Florida room

Tags

• FLORIDA ROOM
• PARTIAL PRESERVE VIEW
• MINUTES FROM GOLF
• MINUTES FROM DINING
• MINUTES FROM SHOPPING
• MINUTES FROM BEACHES

Property features AI

Finance

• Other: Directions: I-95 to PGA Blvd west. Left on Ryder Cup Blvd. Right on Duncan Circle. Building 1109, Unit 203.
• Financial info: Pets allowed with possible restrictions (number and size limits may apply)
• HOA & community: Has association (Dunbar Woods Condo 1); Association amenities include pool and maintenance; Quarterly HOA fee; Association services cover grounds and structure maintenance, pest control, sewer, water, common areas, reserve funds, roof repairs, and pool service; Additional association management: PGA/POA - Lang Management

Exterior

• Parking: Common concrete parking with permit required (1 parking space); No carport
• Security: Security guard
• Utilities: Public water; Public sewer; Electricity available; Cable available; Phone available
• Home design: Condominium; Two levels; Faces south; Second-floor unit (stair access only; no elevator)
• Construction: Frame and stucco construction
• Exterior features: Community pool; Sidewalks; Maintained grounds; Not waterfront; Tile roof

Interior

• Kitchen: Dishwasher; Garbage disposal; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile; Tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Vaulted ceilings; Walk-in closets; Stacked bedroom layout
• Laundry & utility: In-unit laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $300k.

Deal economics

• At list price, monthly cash flow is $862 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).

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: Timber Trace Elementary School (math 76% / reading 79%, grade A, #163 of 2,144 statewide, top 8%, 825 students, 34% FRL); Watson B. Duncan Middle School (math 54% / reading 59%, grade B, #171 of 571 statewide, top 30%, 1,157 students, 41% FRL); Palm Beach Gardens High School (math 19% / reading 40%, grade F, #447 of 667 statewide, top 68%, 2,570 students, 61% FRL).
• Market conditions: Rents rising (+2.0%/yr); 532 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); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 40% of the median local income ($125k/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 $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.
• 3 sale attempts since 28y 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 $64k; list at $300k implies a 364% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $299,500

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
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. 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.
6. 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.
7. 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: 1.41% ✓
• Cap rate: 9.75%
• Cash-on-cash: 12.34%
• DSCR: 1.55
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.0% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $2,501
• Equity at exit: $44,656

10-year hold

• IRR: 9.3%
• Equity multiple: 1.68×
• Total profit: $57,250
• Equity at exit: $25,895

Cash invested: $83,860 (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 33418

• Home prices YoY: -32.4%
• Rents YoY: 2.0%
• Active inventory: 532
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $4,227 high
• Mortgage (P&I): −$1,571
• Tax from tax record: −$121 /mo · $1,453/yr
• Insurance: −$125
• HOA: −$660
• Vacancy / Maint / Mgmt: −$888
• Net cashflow: $862

Break-even live

Break-even rent $3,135

Max offer price $299,500

Occupancy floor 75%

Sensitivity live

Price	-10% $1,032	-5% $947	+0% $862	+5% $778	+10% $693
Rent	-10% $529	-5% $696	+0% $862	+5% $1,029	+10% $1,196
Rate	-1.0pp $1,013	-0.5pp $939	base $862	+0.5pp $785	+1.0pp $706

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: $74,875
• Closing costs: $8,985
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1111 Duncan Cir #203 Palm Beach Gardens, FL	2.0	2.0	1035	$2,900	$2.80	25d	1	0.02mi
1401 Mahogany Pl Palm Beach Gardens, FL	2.0	2.0	1499	$8,500	$5.67	22d	1	0.04mi
1107 Duncan Cir #102 Palm Beach Gardens, FL	3.0	2.0	1268	$3,400	$2.68	25d	1	0.06mi
1302 Mahogany Pl Palm Beach Gardens, FL	2.0	2.0	1355	$8,000	$5.90	25d	1	0.06mi
1903 Rosewood Way Palm Beach Gardens, FL	2.0	2.0	1236	$3,750	$3.03	25d	1	0.11mi
1802 Rosewood Way Palm Beach Gardens, FL	2.0	2.0	1355	$3,550	$2.62	22d	1	0.15mi
136 Coventry Pl Unit 136 Palm Beach Gardens, FL	2.0	1.5	858	$1,600	$1.86	25d	1	0.32mi
364 Prestwick Cir #4 Palm Beach Gardens, FL	2.0	2.5	1466	$2,600	$1.77	25d	1	0.34mi
316 Brackenwood Cir #316 Palm Beach Gardens, FL	2.0	2.0	1180	$3,150	$2.67	25d	1	0.70mi
334 Brackenwood Cir Palm Beach Gardens, FL	2.0	2.0	1366	$3,950	$2.89	25d	1	0.71mi
137 Brackenwood Rd Palm Beach Gardens, FL	2.0	2.0	1366	$4,500	$3.29	25d	1	0.76mi
428 Brackenwood Ln S Palm Beach Gardens, FL	2.0	2.0	1366	$2,500	$1.83	25d	1	0.80mi
563 Brackenwood Pl Palm Beach Gardens, FL	2.0	2.0	1366	$7,000	$5.12	3d	1	0.80mi
512 Brackenwood Pl Palm Beach Gardens, FL	2.0	2.0	1366	$4,000	$2.93	25d	1	0.80mi
438 Brackenwood Ln S Palm Beach Gardens, FL	2.0	2.0	1366	$3,000	$2.20	25d	1	0.82mi
632 Brackenwood Cv Palm Beach Gardens, FL	2.0	2.0	1366	$3,000	$2.20	25d	1	0.85mi
616 Bracken Wood Cv Unit 616 Palm Beach Gardens, FL	2.0	2.0	1366	$7,000	$5.12	25d	1	0.87mi
605 Brackenwood Cv Palm Beach Gardens, FL	2.0	2.0	1366	$7,000	$5.12	25d	1	0.87mi
611 Brackenwood Cv Palm Beach Gardens, FL	2.0	2.0	1366	$2,800	$2.05	2d	1	0.88mi
32 Admirals Ct Palm Beach Gardens, FL	3.0	2.0	1438	$3,590	$2.50	11d	1	0.90mi
32 Admirals Ct Palm Beach Gardens, FL	3.0	2.0	1438	$4,500	$3.13	12d	1	0.90mi
77 Spyglass Way Palm Beach Gardens, FL	3.0	2.5	1471	$3,500	$2.38	25d	1	0.96mi
821 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$9,950	$8.77	25d	1	0.99mi
820 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$3,200	$2.82	25d	1	0.99mi
515 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$5,000	$4.41	25d	1	1.00mi
523 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$3,500	$3.08	21d	1	1.00mi
533 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$3,000	$2.64	22d	1	1.00mi
615 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$6,000	$5.29	25d	1	1.01mi
825 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$2,850	$2.51	5d	1	1.01mi
811 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$9,000	$7.93	25d	1	1.02mi
830 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$7,500	$6.61	25d	1	1.04mi
402 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$7,500	$6.61	25d	1	1.06mi
406 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$7,000	$6.17	25d	1	1.06mi
836 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$8,450	$7.44	0d	1	1.07mi
706 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$2,700	$2.38	6d	1	1.09mi
915 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$4,500	$3.96	25d	1	1.10mi
311 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$6,500	$5.73	25d	1	1.11mi
206 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$5,000	$4.41	25d	1	1.11mi
913 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$3,500	$3.08	25d	1	1.11mi
305 Club Dr Palm Beach Gardens, FL	2.0	2.0	1135	$2,750	$2.42	25d	1	1.13mi

HOA detail condo

• Monthly dues: $660 · $7,920/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $299,500 Active 1 DOM

ⓘ 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: $1,453 · $121/mo
• Projected year-2 tax: $2,486 · $207/mo
• Expected delta: +$1,033/yr (+$86/mo · 71.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,718
• − Mortgage interest: −$16,777
• − Property taxes: −$1,453
• − Insurance: −$1,498
• − Repairs & maintenance: −$4,057
• − Management: −$4,057
• − HOA: −$7,920
• − Depreciation: −$8,713
• Taxable income: $6,243
• Est. tax owed @ 24.0%: −$1,498
• After-tax cash flow: $8,851/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 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): 43,676
• Household income: $125,497
• Rent vs Own: 23.3% rent · 76.7% own
• Severe rent burden: 1339.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 13% Two or more races 9% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 4% Scotch-Irish 4%
• Foreign-born: 15% · Canada, China, Jamaica
• Languages at home: 83% English-only · Spanish 8% German/W. Germanic 2% 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: ▼ -172.79%
• Current HPI: 361.1997
• Rent YoY: ▲ 2.00%
• 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

+289.5% since first listed

7 events — show timeline

• 2026-06-18 Listed $299,500 Beaches MLS
• 1999-09-30 Sold (Public Records) $64,500 Public Records
• 1999-09-29 Sold (MLS) $64,500 Beaches MLS
• 1999-08-18 Listing Removed — Beaches MLS
• 1998-09-15 Listing Removed — Beaches MLS
• 1998-08-31 Listed $66,000 Beaches MLS
• 1998-08-05 Listed $76,900 Beaches MLS

Property tax history

+1.9%/yr

Latest (2025): $1,453 · +3.1% YoY. Source: county tax records.