1016 Shoma Dr · Royal Palm Beach, FL 33414

$250,000

3 bd · 2.5 ba · 1,524 sqft · Condo public records · 38 Days on market

Built 2003 $565/mo HOA · 17% of rent ↓ 15% since listing

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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 +17.7/30.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3 Bedroom 2-1/2 bath condo with 2 levels inside-living area on 1st floor and bedrooms on 2nd floor, tile on 1st floor, washer, dryer, patio, gated community with community pool.

Key facts

• Gated community
• Community pool
• Tile on 1st floor

Tags

• GATED COMMUNITY
• COMMUNITY POOL
• TILE ON 1ST FLOOR
• PATIO

Property features AI

Finance

• Financial info: Pets allowed with restrictions on breed, number, and size
• HOA & community: SHOMA association with monthly HOA dues; Community pool; HOA covers insurance, grounds and structure maintenance, security, trash, common areas, reserves, and pool service

Exterior

• Parking: Assigned parking and guest spaces; 2 open parking spaces (total parking 2)
• Security: Closed-circuit cameras; Fire sprinkler system; Gated community (no guard); Security patrol
• Utilities: Public water; Public sewer; Three-phase electric service; Cable available
• Home design: Condominium; Two levels; Entry on level 2; Faces south; Resale condition
• Construction: CBS construction; Metal roof; Slab foundation; Built as part of SHOMA building
• Exterior features: Covered and open patios; Patio

Interior

• Kitchen: Dishwasher; Refrigerator; Electric water heater
• Bedrooms: No main-level bedrooms (2-story unit)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms and 1 half bathroom
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: High ceilings; Walk-in closets; Roman tub
• Laundry & utility: Laundry inside unit

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $135 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#135 in FL, #2,039 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living 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: Everglades Elementary (math 70% / reading 74%, grade A-, #288 of 2,144 statewide, top 15%, 888 students, 34% FRL); Emerald Cove Middle School (math 61% / reading 64%, grade B+, #116 of 571 statewide, top 21%, 1,241 students, 36% FRL); Palm Beach Central High School (math 42% / reading 55%, grade D, #198 of 667 statewide, top 30%, 2,980 students, 40% FRL) — zoned schools average 36% FRL vs 52% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.3%/yr); 616 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 35% of the median local income ($112k/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 $8k 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 38 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $242,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.29% ✓
• Cap rate: 7.26%
• Cash-on-cash: 3.46%
• DSCR: 1.15
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.52×
• Total profit: $-33,642
• Equity at exit: $37,276

10-year hold

• IRR: -5.8%
• Equity multiple: 0.64×
• Total profit: $-25,289
• Equity at exit: $21,615

Cash invested: $70,000 (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 33414

• Home prices YoY: -30.2%
• Rents YoY: 2.3%
• Active inventory: 616
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $3,234 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$373 /mo · $4,478/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$565
• Vacancy / Maint / Mgmt: −$679
• Net cashflow: $135

Break-even live

Break-even rent $3,063

Max offer price $250,000

Occupancy floor 91%

Sensitivity live

Price	-10% $277	-5% $206	+0% $135	+5% $65	+10% $-6
Rent	-10% $-120	-5% $8	+0% $135	+5% $263	+10% $391
Rate	-1.0pp $261	-0.5pp $199	base $135	+0.5pp $71	+1.0pp $5

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1008 Shoma Dr Unit 394 West Palm Beach, FL	2.0	2.5	1282	$2,400	$1.87	19d	1	0.05mi
570 Christina Dr Royal Palm Beach, FL	1.0–3.0	1.0–2.0	1044	$2,862	$2.74	2d	10	0.17mi
2405 Shoma Dr Royal Palm Beach, FL	3.0	3.5	1932	$2,375	$1.23	3d	1	0.18mi
3515 Shoma Dr Unit 3515 West Palm Beach, FL	3.0	3.5	1815	$3,250	$1.79	25d	1	0.19mi
3106 Shoma Dr Royal Palm Beach, FL	4.0	3.5	1988	$4,000	$2.01	4d	1	0.19mi
3106 Shoma Dr Royal Palm Beach, FL	4.0	3.5	1988	$3,900	$1.96	25d	1	0.19mi
3308 Shoma Dr Royal Palm Beach, FL	4.0	3.5	1988	$2,500	$1.26	6d	1	0.19mi
3308 Shoma Dr Royal Palm Beach, FL	4.0	3.5	1988	$2,500	$1.26	25d	1	0.19mi
2108 Shoma Dr Royal Palm Beach, FL	3.0	2.0	1457	$2,400	$1.65	25d	1	0.22mi
2127 Shoma Dr Royal Palm Beach, FL	2.0	2.5	1282	$2,500	$1.95	25d	1	0.22mi
137 Canterbury Pl Royal Palm Beach, FL	3.0	2.5	1856	$3,500	$1.89	25d	1	0.34mi
11300 Channing Ln Unit 102 Royal Palm Beach, FL	3.0	2.0	2111	$4,299	$2.04	25d	1	0.49mi
175 Berenger Walk Royal Palm Beach, FL	4.0	2.5	2204	$3,600	$1.63	25d	1	0.49mi
1451 Pioneer Way Royal Palm Beach, FL	3.0	2.5	1900	$4,750	$2.50	22d	1	0.51mi
640 Pioneer Way Unit 640 Royal Palm Beach, FL	3.0	2.5	1557	$3,100	$1.99	25d	1	0.52mi
11260 Channing Way Unit 212 Royal Palm Beach, FL	3.0	2.0	1417	$3,174	$2.24	25d	1	0.52mi
220 Pioneer Way Royal Palm Beach, FL	3.0	2.5	1557	$3,200	$2.06	8d	1	0.59mi
1090 Quaye Lake Cir Wellington, FL	3.0	3.0	1719	$3,513	$2.04	15d	1	0.60mi
1090 Quaye Lake Cir Wellington, FL	2.0	3.0	1429	$2,761	$1.93	25d	1	0.60mi
1090 Quaye Lake Cir Wellington, FL	2.0	3.0	1501	$2,695	$1.80	14d	1	0.60mi
11200 Nicole Dr Wellington, FL	1.0–4.0	1.0–3.5	1404	$3,732	$2.66	0d	34	0.61mi
217 Berenger Walk Royal Palm Beach, FL	3.0	2.5	2204	$3,000	$1.36	17d	1	0.67mi
625 Whippoorwill Ter West Palm Beach, FL	3.0	2.0	1914	$4,500	$2.35	25d	1	0.80mi
11020 Town Cir Wellington, FL	1.0–3.0	1.0–2.0	1013	$3,143	$3.10	2d	14	0.81mi
1592 Carriage Brooke Dr Wellington, FL	3.0	2.0	1662	$3,000	$1.81	25d	1	0.98mi
10793 Oak Bend Way Wellington, FL	4.0	2.5	1852	$4,000	$2.16	11d	1	1.11mi
1664 Oak Berry Cir Wellington, FL	3.0	2.0	1325	$3,650	$2.75	25d	1	1.14mi
10709 Pelican Dr Wellington, FL	2.0	2.0	1244	$2,900	$2.33	8d	1	1.17mi
1019 Larch Way Wellington, FL	4.0	2.0	2125	$4,000	$1.88	25d	1	1.20mi
10726 Pelican Dr Wellington, FL	3.0	2.0	1482	$3,500	$2.36	25d	1	1.21mi
11297 Pine Valley Dr Wellington, FL	3.0	2.0	1705	$3,500	$2.05	25d	1	1.23mi
176 Bellezza Ter Royal Palm Beach, FL	4.0	2.5	2058	$3,350	$1.63	11d	1	1.23mi
10569 Pelican Dr Wellington, FL	4.0	3.5	1843	$3,400	$1.84	0d	1	1.24mi
1104 Jackpine St Wellington, FL	3.0	2.0	1760	$6,700	$3.81	25d	1	1.25mi
1104 Jackpine St Unit (off-season) Wellington, FL	3.0	2.0	1760	$3,500	$1.99	25d	1	1.25mi
1950 Polo Lake Blvd Wellington, FL	1.0–3.0	1.0–2.0	1174	$3,394	$2.89	0d	20	1.26mi
699 Belle Grove Ln Royal Palm Beach, FL	3.0	2.0	1849	$3,500	$1.89	25d	1	1.29mi
502 Rambling Drive Cir Unit 2 Wellington, FL	2.0	1.0	1413	$2,400	$1.70	25d	1	1.31mi
8694 Pioneer Rd West Palm Beach, FL	4.0	3.0	2000	$3,500	$1.75	19d	1	1.33mi
1313 Pinetta Cir Wellington, FL	3.0	2.0	1469	$3,700	$2.52	15d	1	1.33mi

HOA detail condo

• Monthly dues: $565 · $6,780/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $250,000 Active 38 DOM
2. 2026-06-17
   days on market $250,000 Active 37 DOM
3. 2026-06-16
   days on market $250,000 Active 36 DOM
4. 2026-06-15
   days on market $250,000 Active 35 DOM
5. 2026-06-13
   days on market $250,000 Active 33 DOM
6. 2026-06-09
   days on market $250,000 Active 29 DOM
7. 2026-06-08
   days on market $250,000 Active 28 DOM
8. 2026-06-07
   days on market $250,000 Active 27 DOM
9. 2026-06-04
   days on market $250,000 Active 24 DOM
10. 2026-06-03
    days on market $250,000 Active 23 DOM
11. 2026-06-02
    days on market $250,000 Active 22 DOM
12. 2026-06-01
    days on market $250,000 Active 21 DOM
13. 2026-05-31
    days on market $250,000 Active 20 DOM
14. 2026-05-11
    listed $250,000 Active
15. 2026-05-07
    listed $2,500
16. 2025-09-01
    historical
17. 2025-08-26
    price $285,000
18. 2025-08-05
    price $290,000
19. 2025-06-26
    price $295,000
20. 2025-02-19
    listed $300,000 Active
21. 2023-05-03
    historical
22. 2023-03-23
    price $300,000
23. 2022-06-06
    price $325,000
24. 2022-05-26
    listed $295,000 Active

ⓘ 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: $4,478 · $373/mo
• Projected year-2 tax: $4,478 · $373/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,814
• − Mortgage interest: −$14,004
• − Property taxes: −$4,478
• − Insurance: −$2,048
• − Repairs & maintenance: −$3,105
• − Management: −$3,105
• − HOA: −$6,780
• − Depreciation: −$7,273
• Taxable loss: −$1,979
• Est. tax savings @ 24.0%: +$475
• After-tax cash flow: $2,100/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 — Royal Palm Beach

• Score: 79/100
• State rank: #135
• US rank: #2039

Category grades

Amenities F Commute F Cost of living C- Crime B+ Employment A+ Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Royal Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 75,299
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 60,184
• Household income: $112,241
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 1566.0

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 0.67)
• Race & ethnicity: White 47% Hispanic / Latino 29% Two or more races 20% Black 13% Asian 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Cuban 6% Dominican 1% Salvadoran 1%
• Common ancestry: Hispanic 4% Romanian 3% Lithuanian 2%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 67% English-only · Spanish 23% French/Haitian/Cajun 3% Other Indo-European 3%

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: ▼ -152.58%
• Current HPI: 352.9366
• Rent YoY: ▲ 2.31%
• 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

-15.3% since first listed

11 events — show timeline

• 2026-05-11 Listed $250,000 Beaches MLS
• 2026-05-07 Listed for Rent $2,500 RMLSFL
• 2025-09-01 Listing Removed — Beaches MLS
• 2025-08-26 Price Changed $285,000 Beaches MLS
• 2025-08-05 Price Changed $290,000 Beaches MLS
• 2025-06-26 Price Changed $295,000 Beaches MLS
• 2025-02-19 Listed $300,000 Beaches MLS
• 2023-05-03 Listing Removed — Beaches MLS
• 2023-03-23 Price Changed $300,000 Beaches MLS
• 2022-06-06 Price Changed $325,000 Beaches MLS
• 2022-05-26 Listed $295,000 Beaches MLS

Property tax history

+9.4%/yr

Latest (2025): $4,478 · +9.0% YoY. Source: county tax records.