804 Summit Lake Dr · Pine Air, FL 33406

$299,000

2 bd · 2.5 ba · 1,206 sqft · Townhouse public records · 84 Days on market

Built 2001 1,230 sqft lot $325/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 +13.0/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• DSCR +3.9/10.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ONLY TWO YEARS NEW, EAT-IN-KITCHEN. TWO MASTER SUITES. NICE SIZE LIVING AREA, WASHER, DRYER IN UNIT. PRIVATE BACK AREA. PLEASE DO NOT LET CAT OUT

Key facts

• $325 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Pets allowed with breed restrictions
• HOA & community: Homeowners association with $325 monthly fee; HOA covers maintenance of grounds, common areas and recreation facility; Community amenities include a pool, playground and picnic area

Exterior

• Parking: Open parking; 2 open parking spaces (1 total parking indicated)
• Utilities: Public water; Public sewer; Sewer available; Water available
• Home design: Townhouse; 2 stories; Resale property; Faces north
• Construction: CBS construction; Spanish tile roof
• Exterior features: Fenced yard; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: No main-level bedrooms noted
• Flooring: Ceramic tile; Wood
• Bathrooms: 2 full bathrooms and 1 half bathroom (3 total); 1 bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning; Ceiling fan(s); Electric cooling
• Interior features: Walk-in closet(s); Unfurnished
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $299k.

Deal economics

• At list price, monthly cash flow is $-18 ($-214/yr) — negative.
• To cash-flow at today's rent, offer at most $296k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (12.0% below list).
• Recommended offer: $263k (12.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#270 in FL, #4,410 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A; Watch: employment C-, 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: Berkshire Elementary School (math 46% / reading 51%, grade D, #1,152 of 2,144 statewide, top 55%, 1,046 students, 70% FRL); Palm Springs Middle School (math 27% / reading 38%, grade F, #443 of 571 statewide, top 78%, 1,521 students, 72% FRL); John I. Leonard High School (math 17% / reading 35%, grade F, #494 of 667 statewide, top 75%, 3,549 students, 67% FRL) — zoned schools average 70% FRL vs 52% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 50% district-wide (-14 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 flat; 100 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• This rent runs 41% of the median local income ($77k/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

• It's been on market 84 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y ago; this cycle's ask has dropped $31k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $299k implies a 99% 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 3→10/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $263,035 (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 84 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Schools are A-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?
7. 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?
8. 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.
9. 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.
10. 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: 0.88% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.26%
• DSCR: 0.99
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.68% rent growth · sell at horizon

5-year hold

• IRR: -19.4%
• Equity multiple: 0.34×
• Total profit: $-55,532
• Equity at exit: $44,582

10-year hold

• IRR: -17.9%
• Equity multiple: 0.13×
• Total profit: $-73,092
• Equity at exit: $25,852

Cash invested: $83,720 (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 33406

• Rents YoY: 0.7%
• Active inventory: 100
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,630 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$78 /mo · $939/yr
• Insurance: −$125
• HOA: −$325
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $-18

Break-even live

Break-even rent $2,653

Max offer price $295,845

Occupancy floor 96%

Sensitivity live

Price	-10% $151	-5% $67	+0% $-18	+5% $-102	+10% $-187
Rent	-10% $-226	-5% $-122	+0% $-18	+5% $86	+10% $190
Rate	-1.0pp $133	-0.5pp $58	base $-18	+0.5pp $-95	+1.0pp $-174

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1148 Summit Trail Cir Unit D West Palm Beach, FL	3.0	2.0	1332	$3,100	$2.33	16d	1	1.08mi
1051 Summit Place Cir Unit D West Palm Beach, FL	3.0	2.0	1332	$2,600	$1.95	26d	1	1.20mi
5360 Kim Ct West Palm Beach, FL	3.0	2.0	1407	$3,100	$2.20	26d	1	1.25mi
1364 Climbing Rose Ln West Palm Beach, FL	3.0	2.0	1492	$2,700	$1.81	26d	1	1.39mi
2200 Springdale Blvd #214 Palm Springs, FL	1.0	1.5	756	$1,550	$2.05	4d	1	1.46mi
555 Kirk Rd Palm Springs, FL	2.0	2.0	875	$2,749	$3.14	14d	1	1.47mi
555 Kirk Rd Palm Springs, FL	2.0	2.0	875	$3,194	$3.65	24d	1	1.47mi
4591 Purdy Ln Unit 2 West Palm Beach, FL	3.0	2.0	850	$3,000	$3.53	26d	1	1.48mi
4591 Purdy Ln Unit 1 West Palm Beach, FL	2.0	1.0	900	$2,350	$2.61	26d	1	1.48mi

HOA detail

• Monthly dues: $325 · $3,900/yr

Listing history 24 events

1. 2026-06-21
   days on market $299,000 Active 84 DOM
2. 2026-06-18
   days on market $299,000 Active 81 DOM
3. 2026-06-17
   days on market $299,000 Active 80 DOM
4. 2026-06-16
   days on market $299,000 Active 79 DOM
5. 2026-06-15
   days on market $299,000 Active 78 DOM
6. 2026-06-13
   days on market $299,000 Active 76 DOM
7. 2026-06-09
   days on market $299,000 Active 72 DOM
8. 2026-06-08
   days on market $299,000 Active 71 DOM
9. 2026-06-07
   days on market $299,000 Active 70 DOM
10. 2026-06-04
    days on market $299,000 Active 67 DOM
11. 2026-06-03
    days on market $299,000 Active 66 DOM
12. 2026-06-02
    days on market $299,000 Active 65 DOM
13. 2026-06-01
    days on market $299,000 Active 64 DOM
14. 2026-05-31
    days on market $299,000 Active 63 DOM
15. 2026-04-13
    price $299,000
16. 2026-03-29
    listed $330,000 Active
17. 2004-11-24
    soldstatus $150,000
18. 2004-11-22
    soldstatus $150 145-char remark

    Show marketing remark (145 chars)

    ONLY TWO YEARS NEW, EAT-IN-KITCHEN. TWO MASTER SUITES. NICE SIZE LIVING AREA, WASHER, DRYER IN UNIT. PRIVATE BACK AREA. PLEASE DO NOT LET CAT OUT

19. 2004-11-01
    historical 145-char remark

    Show marketing remark (145 chars)

    ONLY TWO YEARS NEW, EAT-IN-KITCHEN. TWO MASTER SUITES. NICE SIZE LIVING AREA, WASHER, DRYER IN UNIT. PRIVATE BACK AREA. PLEASE DO NOT LET CAT OUT

20. 2004-10-11
    listed $149,900 145-char remark

    Show marketing remark (145 chars)

    ONLY TWO YEARS NEW, EAT-IN-KITCHEN. TWO MASTER SUITES. NICE SIZE LIVING AREA, WASHER, DRYER IN UNIT. PRIVATE BACK AREA. PLEASE DO NOT LET CAT OUT

21. 2002-01-22
    soldstatus $104,500
22. 2002-01-11
    soldstatus $104,500 143-char remark

    Show marketing remark (143 chars)

    BEAUTIFUL BRAND NEW TWNHOUSE ,TILE THROUGHOUT EXCEPT BEDROOMS. CLOSE TO EVERYTHING. MUST SEE - QUICK SALE - SHOW IT - WILL SELL ITSELF. LOCKBOX

23. 2002-01-01
    historical 143-char remark

    Show marketing remark (143 chars)

    BEAUTIFUL BRAND NEW TWNHOUSE ,TILE THROUGHOUT EXCEPT BEDROOMS. CLOSE TO EVERYTHING. MUST SEE - QUICK SALE - SHOW IT - WILL SELL ITSELF. LOCKBOX

24. 2001-11-13
    listed $104,900 143-char remark

    Show marketing remark (143 chars)

    BEAUTIFUL BRAND NEW TWNHOUSE ,TILE THROUGHOUT EXCEPT BEDROOMS. CLOSE TO EVERYTHING. MUST SEE - QUICK SALE - SHOW IT - WILL SELL ITSELF. LOCKBOX

ⓘ 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: $939 · $78/mo
• Projected year-2 tax: $2,482 · $207/mo
• Expected delta: +$1,543/yr (+$129/mo · 164.2%)

ⓘ 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 3 d/yr ≥105°F today · 10 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: $31,564
• − Mortgage interest: −$16,749
• − Property taxes: −$939
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,525
• − Management: −$2,525
• − HOA: −$3,900
• − Depreciation: −$8,698
• Taxable loss: −$5,267
• Est. tax savings @ 24.0%: +$1,264
• After-tax cash flow: $1,050/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 — Pine Air

• Score: 74/100
• State rank: #270
• US rank: #4410

Category grades

Amenities F Commute F Cost of living A- Crime A+ Employment C- 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
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 26,945
• Household income: $77,075
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 768.0

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 54% White 33% Two or more races 29% Black 8% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5% Cuban 17% Dominican 5% Salvadoran 1%
• Common ancestry: Hispanic 3% Lithuanian 2% Romanian 1%
• Foreign-born: 39% · Canada, Jamaica, Vietnam
• Languages at home: 45% English-only · Spanish 49% French/Haitian/Cajun 2% Other Indo-European 1%

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: ▼ -384.39%
• Current HPI: 441.2523
• Rent YoY: ▲ 0.68%
• 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

+185.0% since first listed

10 events — show timeline

• 2026-04-13 Price Changed $299,000 Beaches MLS
• 2026-03-29 Listed $330,000 Beaches MLS
• 2004-11-24 Sold (Public Records) $150,000 Public Records
• 2004-11-22 Sold (MLS) $150 Beaches MLS
• 2004-11-01 Listing Removed — Beaches MLS
• 2004-10-11 Listed $149,900 Beaches MLS
• 2002-01-22 Sold (Public Records) $104,500 Public Records
• 2002-01-11 Sold (MLS) $104,500 Beaches MLS
• 2002-01-01 Listing Removed — Beaches MLS
• 2001-11-13 Listed $104,900 Beaches MLS

Property tax history

+0.8%/yr

Latest (2025): $939 · +2.4% YoY. Source: county tax records.