2682 Garden Dr S #301 · Palm Springs, FL 33461

$50,000

2 bd · 1.0 ba · 894 sqft · Condo public records · 776 Days on market

Built 1969 $794/mo HOA · 41% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TOP FLOOR CORNER JEWEL..FURNISHED. CENTRALLY LOCATED . EZ WALK TO ALL RECREATIONAL FAUCILITIES. 2 POOLS, PUTTING GREEN, WORKSHOP, SAUNAS, EXERCISE ROOMS, GREAT COMMUITY..SELLERS: **STEPHEN J & BARBARA A LE CLOUX

Key facts

• Shuffle board
• Sauna
• Elevator

Tags

• ELEVATOR
• COMMON LAUNDRY
• POOL
• SAUNA
• LIBRARY
• SHUFFLE BOARD

Property features AI

Finance

• Financial info: Pets not allowed; Senior community
• HOA & community: HOA with monthly fee (amount not restated); Community amenities include: clubhouse, elevator(s), fitness center, game room, pool, sauna, shuffleboard court, trash chute, community room, courtesy bus, internet included, library, putting green

Exterior

• Parking: Assigned parking; Guest parking; Open parking (1 open space)
• Security: Manager on site
• Utilities: Three-phase electric; Cable available; Water available
• Home design: Condominium; Resale condition; Faces west; 3-story building
• Construction: Block/Concrete/CBS construction
• Exterior features: Not waterfront; Community directions available

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Electric central heating (individual unit); Central individual cooling
• Interior features: Walk-in closet(s); Closet cabinetry; Partially furnished
• Laundry & utility: Washer/dryer not specified

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $50k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (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+, schools D-, amenities 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.
• Market conditions: Rents soft (-2.5%/yr); 274 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 37% 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 $346 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $14k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 776 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y ago; this cycle's ask has dropped $50k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; HOA is 41% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 776 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
10. 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.
11. 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: 3.83% ✓
• Cap rate: 13.84%
• Cash-on-cash: 26.96%
• DSCR: 2.20
• GRM: 2.2

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: 13.4%
• Equity multiple: 1.49×
• Total profit: $6,872
• Equity at exit: $7,455

10-year hold

• IRR: 15.9%
• Equity multiple: 1.88×
• Total profit: $12,347
• Equity at exit: $4,323

Cash invested: $14,000 (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: 274
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,913 high
• Mortgage (P&I): −$262
• Tax from tax record: −$120 /mo · $1,441/yr
• Insurance: −$21
• HOA: −$794
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $314

Break-even live

Break-even rent $1,515

Max offer price $50,000

Occupancy floor 79%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 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	24d	1	0.10mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	4d	1	0.17mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	2d	1	0.17mi
2856 Garden Dr S #112 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	24d	1	0.20mi
2721 Garden Dr N #105 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	20d	1	0.24mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	7d	1	0.24mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	15d	1	0.24mi
2791 S Florida Mango Rd Lake Worth, FL	2.0	2.0	1100	$1,995	$1.81	20d	1	0.24mi
910 Rudolf Rd Lake Worth, FL	3.0	1.0	1000	$2,500	$2.50	24d	1	0.31mi
2508 10th Ave N Lake Worth Beach, FL	3.0	2.0	1025	$2,557	$2.49	24d	1	0.32mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,746	$2.18	14d	1	0.32mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,672	$2.09	11d	1	0.32mi
2901 10th Ave N Palm Springs, FL	2.0	1.0	900	$1,795	$1.99	24d	1	0.34mi
3386 Rudolph Rd Lake Worth Beach, FL	2.0	1.0	840	$2,100	$2.50	3d	1	0.39mi
100 Rex Ave Palm Springs, FL	2.0	2.0	1000	$1,850	$1.85	24d	3	0.46mi
3440 Rudolph Rd Unit 3440-03 Lake Worth Beach, FL	2.0	2.0	935	$2,100	$2.25	18d	1	0.47mi
3431 Helena Dr Unit 3481-11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	24d	1	0.48mi
3431 Helena Dr Lake Worth, FL	2.0	2.0	935	$2,075	$2.22	14d	2	0.48mi
3481 Helena Dr Unit 11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	24d	1	0.49mi
220 Henthorne Dr Palm Springs, FL	1.0–2.0	1.5–2.0	900	$1,850	$2.06	24d	4	0.55mi
3300 Boutwell Rd Lake Worth Beach, FL	1.0–2.0	1.0–2.0	765	$2,720	$3.56	24d	1	0.56mi
3031 French Ave Lake Worth, FL	3.0	1.0	840	$2,400	$2.86	7d	1	0.57mi
124 Abaco Dr Palm Springs, FL	3.0	2.0	988	$2,900	$2.94	15d	1	0.59mi
3017 Buckley Ave Lake Worth, FL	2.0	1.0	720	$2,200	$3.06	24d	1	0.61mi
1065 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,100	$1.91	3d	1	0.63mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,995	$2.90	1d	5	0.65mi
1020 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,200	$2.00	22d	1	0.69mi
1016 Manor Dr Unit 5c Palm Springs, FL	2.0	2.0	1098	$2,256	$2.05	24d	1	0.70mi
1802 Waterview Cir #1802 Palm Springs, FL	2.0	2.0	951	$1,925	$2.02	24d	1	0.85mi
1742 W Terrace Dr Lake Worth Beach, FL	2.0	1.5	1000	$2,700	$2.70	24d	1	0.86mi
2571 Lake Worth Rd Lake Worth, FL	1.0–2.0	1.0–2.0	750	$1,657	$2.21	2d	2	0.96mi
1755 Forest Hill Blvd Lake Clarke Shores, FL	1.0	1.0	662	$1,595	$2.41	7d	1	1.02mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,750	$2.06	24d	2	1.04mi
247 Cypress Ln Unit 246-C12 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	5d	1	1.05mi
247 Cypress Ln Unit 246-C06 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	24d	1	1.05mi
225 Bonnie Blvd Palm Springs, FL	1.0–2.0	1.5–2.0	944	$1,850	$1.96	24d	2	1.05mi
225 Bonnie Blvd #116 Palm Springs, FL	2.0	2.0	988	$1,850	$1.87	18d	1	1.05mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,558	$2.65	2d	14	1.05mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,850	$2.24	24d	3	1.06mi
3662 Davis Rd Unit 3664 Palm Springs, FL	3.0	2.0	1000	$1,999	$2.00	7d	1	1.06mi

HOA detail condo

• Monthly dues: $794 · $9,528/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $50,000 Active 776 DOM
2. 2026-06-17
   days on market $50,000 Active 775 DOM
3. 2026-06-16
   days on market $50,000 Active 774 DOM
4. 2026-06-15
   days on market $50,000 Active 773 DOM
5. 2026-06-13
   days on market $50,000 Active 771 DOM
6. 2026-06-09
   days on market $50,000 Active 767 DOM
7. 2026-06-07
   days on market $50,000 Active 765 DOM
8. 2026-06-04
   days on market $50,000 Active 762 DOM
9. 2026-06-03
   pricedays on market $50,000 Active 761 DOM
10. 2026-06-01
    days on market $58,000 Active 759 DOM
11. 2026-05-31
    days on market $58,000 Active 758 DOM
12. 2026-02-23
    price $58,000
13. 2025-02-06
    price $69,900
14. 2024-09-11
    price $79,900
15. 2024-05-03
    listed $99,900 Active
16. 2004-07-16
    soldstatus $57,900
17. 2004-07-07
    soldstatus $57,900 215-char remark

    Show marketing remark (215 chars)

    TOP FLOOR CORNER JEWEL..FURNISHED. CENTRALLY LOCATED . EZ WALK TO ALL RECREATIONAL FAUCILITIES. 2 POOLS, PUTTING GREEN, WORKSHOP, SAUNAS, EXERCISE ROOMS, GREAT COMMUITY..SELLERS: **STEPHEN J & BARBARA A LE CLOUX

18. 2004-05-14
    historical 215-char remark

    Show marketing remark (215 chars)

    TOP FLOOR CORNER JEWEL..FURNISHED. CENTRALLY LOCATED . EZ WALK TO ALL RECREATIONAL FAUCILITIES. 2 POOLS, PUTTING GREEN, WORKSHOP, SAUNAS, EXERCISE ROOMS, GREAT COMMUITY..SELLERS: **STEPHEN J & BARBARA A LE CLOUX

19. 2004-04-14
    listed $57,900 215-char remark

    Show marketing remark (215 chars)

    TOP FLOOR CORNER JEWEL..FURNISHED. CENTRALLY LOCATED . EZ WALK TO ALL RECREATIONAL FAUCILITIES. 2 POOLS, PUTTING GREEN, WORKSHOP, SAUNAS, EXERCISE ROOMS, GREAT COMMUITY..SELLERS: **STEPHEN J & BARBARA A LE CLOUX

ⓘ 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: $1,441 · $120/mo
• Projected year-2 tax: $1,441 · $120/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 · 27 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: $22,961
• − Mortgage interest: −$2,801
• − Property taxes: −$1,441
• − Insurance: −$250
• − Repairs & maintenance: −$1,837
• − Management: −$1,837
• − HOA: −$9,528
• − Depreciation: −$1,455
• Taxable income: $3,813
• Est. tax owed @ 24.0%: −$915
• After-tax cash flow: $2,859/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

+0.2% since first listed

8 events — show timeline

• 2026-02-23 Price Changed $58,000 Beaches MLS
• 2025-02-06 Price Changed $69,900 Beaches MLS
• 2024-09-11 Price Changed $79,900 Beaches MLS
• 2024-05-03 Listed $99,900 Beaches MLS
• 2004-07-16 Sold (Public Records) $57,900 Public Records
• 2004-07-07 Sold (MLS) $57,900 Beaches MLS
• 2004-05-14 Listing Removed — Beaches MLS
• 2004-04-14 Listed $57,900 Beaches MLS

Property tax history

+5.8%/yr

Latest (2025): $1,441 · -6.2% YoY. Source: county tax records.