815 Andrew Redding Rd #202 · Lantana, FL 33462

$196,000

2 bd · 1.0 ba · 925 sqft · Condo public records · 66 Days on market

Built 1984 $370/mo HOA · 16% 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 +16.1/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to one of Lantana's best-kept secrets — Redding Manor! This charming 21-unit all age community offers a peaceful setting with a pool, laundry, storage, and community room. This well kept fully furnished 2BR/1.5BA villa style condo is filled with natural light and features low HOA fee, impact windows, a new roof and AC. Enjoy a spacious front patio perfect for dining or grilling. Located in a quiet neighborhood just minutes from the beach, shopping, and I-95, and within walking distance to Publix, Aldi, restaurants, shopping, and more. A perfect place to call home or your own South Florida getaway!

Key facts

• Storage
• Pool
• Community room

Tags

• POOL
• LAUNDRY
• STORAGE
• COMMUNITY ROOM
• IMPACT WINDOWS
• NEW ROOF

Property features AI

Finance

• Financial info: Community of 21 units; No pets allowed
• HOA & community: Association: Redding Manor; Monthly HOA fee of $370; Association amenities include pool, game room, community room; HOA covers insurance, internet, grounds maintenance, common areas, roof repairs, pool service

Exterior

• Parking: 1 open parking space (total parking 1)
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Water available; Sewer connected
• Home design: Condominium; One story; Entry level 1; Faces south; Resale condition
• Construction: Built with stucco and CBS; Shingle roof
• Exterior features: Open patio; Patio

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on main level
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: High ceilings; Vaulted ceilings; Bedroom layout - stacked; Skylights; Furnished
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $196k.

Deal economics

• At list price, monthly cash flow is $99 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $196k).
• Recommended offer: $184k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#276 in FL, #4,432 nationally) — a middle-class / working-renter tenant base. Strengths: crime 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: Barton Elementary School (math 25% / reading 20%, grade F, #2,073 of 2,144 statewide, top 97%, 1,064 students, 80% FRL); Lake Worth High School (math 16% / reading 27%, grade F, #546 of 667 statewide, top 82%, 2,683 students, 71% FRL) — zoned schools average 76% FRL vs 52% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 50% district-wide (-28 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 rising fast (+4.1%/yr); 383 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 ($74k/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 $1k of loan paydown is wiped out by about $6k 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 66 days — a 6% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $37k; list at $196k implies a 430% 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 $184,240 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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. 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?
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: 1.17% ✓
• Cap rate: 6.90%
• Cash-on-cash: 2.17%
• DSCR: 1.10
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.09% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.59×
• Total profit: $-22,635
• Equity at exit: $29,224

10-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $135
• Equity at exit: $16,946

Cash invested: $54,880 (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 33462

• Rents YoY: 4.1%
• Active inventory: 383
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,292 high
• Mortgage (P&I): −$1,028
• Tax from tax record: −$232 /mo · $2,785/yr
• Insurance: −$82
• HOA: −$370
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $99

Break-even live

Break-even rent $2,167

Max offer price $196,000

Occupancy floor 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: $49,000
• Closing costs: $5,880
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
835 Andrew Redding Rd #1 Lantana, FL	2.0	2.0	875	$2,800	$3.20	24d	1	0.09mi
1001 Water Tower Way Hypoluxo, FL	1.0–3.0	1.0–2.0	981	$2,380	$2.43	2d	25	0.26mi
1001 Water Tower Way Hypoluxo, FL	1.0–3.0	1.0–2.0	981	$2,336	$2.38	24d	25	0.26mi
2640 South Dr Unit 301 Lake Worth Beach, FL	2.0	1.0	894	$1,500	$1.68	14d	1	0.28mi
2640 South Dr Unit 301 Lake Worth Beach, FL	2.0	1.0	894	$1,500	$1.68	18d	1	0.28mi
2566 South Dr Unit 306 Lake Worth Beach, FL	1.0	1.0	744	$1,850	$2.49	7d	1	0.28mi
900 Water Tower Way Lantana, FL	1.0–2.0	1.0–2.0	1176	$3,571	$3.04	3d	20	0.28mi
1420 Barton Rd Unit 1420w Lake Worth Beach, FL	2.0	1.0	990	$2,000	$2.02	10d	1	0.46mi
703 Dawn Pl Unit C Lantana, FL	2.0	2.0	935	$2,500	$2.67	7d	1	0.56mi
614 N 7th St Lantana, FL	2.0	1.0	960	$2,400	$2.50	24d	1	0.57mi
622 Minnesota St Lantana, FL	2.0	2.0	1006	$3,000	$2.98	24d	1	0.64mi
605 S 12th St Lantana, FL	2.0	1.0	700	$1,950	$2.79	3d	1	0.77mi
329 Melody Ln Unit 331 Lantana, FL	2.0	2.0	842	$1,849	$2.20	7d	1	0.78mi
422 S Arnold Ave Lantana, FL	2.0	1.0	948	$2,400	$2.53	20d	1	0.81mi
410 W Palm St Unit B28 Lantana, FL	2.0	1.5	894	$1,800	$2.01	24d	1	0.81mi
900 W Bloxham St Lantana, FL	3.0	1.0	925	$2,141	$2.31	22d	1	0.82mi
1029 S D St Apt 2 Lake Worth Beach, FL	1.0	1.0	560	$1,675	$2.99	24d	1	0.84mi
1029 S D St Lake Worth Beach, FL	1.0	1.0	550	$1,715	$3.12	24d	1	0.84mi
1609 S Federal Hwy Apt 102 Lake Worth Beach, FL	1.0	1.0	672	$1,459	$2.17	24d	1	0.88mi
802 W Windward Way #304 Lantana, FL	1.0	1.0	839	$2,700	$3.22	24d	1	0.89mi
609 S Arnold Ave Lantana, FL	2.0	2.0	1076	$2,900	$2.70	16d	1	0.89mi
525 S Broadway Unit M Lantana, FL	1.0	1.0	600	$1,575	$2.62	24d	1	0.92mi
300 Waterway Dr S #308 Lantana, FL	2.0	1.5	806	$2,200	$2.73	24d	1	0.93mi
119 Sunrise Ave Unit A Lantana, FL	1.0	1.0	555	$2,400	$4.32	20d	1	0.93mi
303 Waterway Dr S #303 Lantana, FL	2.0	1.5	900	$2,100	$2.33	24d	1	0.94mi
720 N Dixie Hwy #202 Lantana, FL	2.0	2.5	1125	$2,000	$1.78	4d	1	0.94mi
115 E Lantana Rd Lantana, FL	1.0	1.0	600	$1,600	$2.67	10d	1	0.95mi
911 S D St Lake Worth Beach, FL	2.0	2.0	1023	$2,300	$2.25	18d	1	0.96mi
349 Wickline Blvd Lantana, FL	2.0	1.0	832	$2,300	$2.76	2d	1	0.96mi
351 Wickline Blvd Lantana, FL	2.0	1.0	832	$2,300	$2.76	2d	1	0.97mi
200 Croton Ave Lantana, FL	1.0–2.0	1.0	695	$1,850	$2.66	14d	2	0.97mi
1101 S K St Unit 16 Lake Worth Beach, FL	1.0	1.0	600	$1,550	$2.58	24d	1	0.97mi
714 S Arnold Ave Unit B Lantana, FL	2.0	1.0	858	$2,200	$2.56	24d	1	0.97mi
612 W Drew St Unit E Lantana, FL	1.0	1.0	550	$1,900	$3.45	2d	1	0.98mi
612 W Drew St Lantana, FL	1.0	1.0	800	$1,800	$2.25	11d	1	0.98mi
1331 S Federal Hwy Lake Worth, FL	2.0	2.0	1011	$2,099	$2.08	11d	1	0.99mi
1331 S Federal Hwy Lake Worth, FL	2.0	2.0	1011	$2,099	$2.08	24d	1	0.99mi
896 N Federal Hwy #128 Lantana, FL	2.0	2.0	1025	$3,200	$3.12	11d	1	0.99mi
887 W Perry St Lantana, FL	3.0	1.0	1055	$3,000	$2.84	24d	1	0.99mi
315 N Lake Dr Unit 6 Lantana, FL	1.0	1.0	590	$1,495	$2.53	17d	1	0.99mi

HOA detail condo

• Monthly dues: $370 · $4,440/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $196,000 Active 66 DOM
2. 2026-06-17
   days on market $196,000 Active 65 DOM
3. 2026-06-16
   days on market $196,000 Active 64 DOM
4. 2026-06-15
   days on market $196,000 Active 63 DOM
5. 2026-06-13
   days on market $196,000 Active 61 DOM
6. 2026-06-09
   days on market $196,000 Active 57 DOM
7. 2026-06-08
   days on market $196,000 Active 56 DOM
8. 2026-06-07
   days on market $196,000 Active 55 DOM
9. 2026-06-04
   days on market $196,000 Active 52 DOM
10. 2026-06-03
    days on market $196,000 Active 51 DOM
11. 2026-06-02
    days on market $196,000 Active 50 DOM
12. 2026-06-01
    days on market $196,000 Active 49 DOM
13. 2026-05-31
    days on market $196,000 Active 48 DOM
14. 2026-04-12
    listed $196,000 Active
15. 2004-01-08
    soldstatus $37,000
16. 1989-11-07
    soldstatus $50,000

ⓘ 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: $2,785 · $232/mo
• Projected year-2 tax: $2,785 · $232/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 9/10 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: $27,509
• − Mortgage interest: −$10,979
• − Property taxes: −$2,785
• − Insurance: −$980
• − Repairs & maintenance: −$2,201
• − Management: −$2,201
• − HOA: −$4,440
• − Depreciation: −$5,702
• Taxable loss: −$1,779
• Est. tax savings @ 24.0%: +$427
• After-tax cash flow: $1,619/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 — Lantana

• Score: 74/100
• State rank: #276
• US rank: #4432

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lantana, FL
• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,371
• Household income: $73,997
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1852.0

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 0.68)
• Race & ethnicity: White 44% Black 26% Hispanic / Latino 26% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5% Cuban 3%
• Common ancestry: Hispanic 14% Romanian 2% Scotch-Irish 2%
• Foreign-born: 31% · Canada, Jamaica, Dominican Republic
• Languages at home: 60% English-only · Spanish 20% French/Haitian/Cajun 16% 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: ▼ -295.48%
• Current HPI: 361.5391
• Rent YoY: ▲ 4.09%
• 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

+292.0% since first listed

3 events — show timeline

• 2026-04-12 Listed $196,000 Beaches MLS
• 2004-01-08 Sold (Public Records) $37,000 Public Records
• 1989-11-07 Sold (Public Records) $50,000 Public Records

Property tax history

+8.0%/yr

Latest (2025): $2,785 · +8.7% YoY. Source: county tax records.