2606 Garden Dr #304 · Palm Springs, FL 33461

$129,900

2 bd · 2.0 ba · 1,080 sqft · Condo public records · 170 Days on market

Built 1969 $787/mo HOA · 40% 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).

• 1% rule +10.0/10.0
• Cash flow +9.5/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Key facts

• $787 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Senior community
• HOA & community: Association on site; Monthly HOA fee; Building amenities: elevator(s), fitness center, game room, laundry, parking, pool, manager on site, courtesy bus, putting green; HOA covers cable TV, grounds maintenance, sewer, trash, water, and elevator

Exterior

• Parking: Assigned parking space; One open parking space
• Utilities: Public sewer; Water available; Sewer available
• Home design: Condominium; Multi/split levels; Faces southeast; Resale
• Construction: Block/Concrete/CBS construction; 3 total stories; Living area recorded as 1,080 (public records)
• Exterior features: Waterfront; Screen-enclosed pool

Interior

• Bedrooms: 2 bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Walk-in closets; Unfurnished; Blinds and drapes
• Laundry & utility: Laundry available (building)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $-90 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (12.2% below list).
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.2% below list) — sets the bar for cash-flow.

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+, 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: Meadow Park Elementary School (math 64% / reading 73%, grade B+, #409 of 2,144 statewide, top 20%, 809 students, 65% FRL); Conniston Middle School (math 35% / reading 38%, grade F, #405 of 571 statewide, top 72%, 1,075 students, 74% FRL); Forest Hill Community High School (math 20% / reading 41%, grade F, #434 of 667 statewide, top 66%, 2,407 students, 66% FRL) — zoned schools average 68% FRL vs 52% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.5%/yr); 276 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 38% 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 $898 of loan paydown is wiped out by about $4k 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 170 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 4y ago; this cycle's ask is 7564% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $110k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 40% of rent.
• 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 $114,077 (12.2% 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 170 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
10. 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.
11. 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.
12. 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: 1.53% ✓
• Cap rate: 5.47%
• Cash-on-cash: -2.96%
• DSCR: 0.87
• GRM: 5.5

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: -27.5%
• Equity multiple: 0.12×
• Total profit: $-32,068
• Equity at exit: $19,369

10-year hold

• IRR: -69.9%
• Equity multiple: -0.53×
• Total profit: $-55,710
• Equity at exit: $11,231

Cash invested: $36,372 (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: 276
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,983 high
• Mortgage (P&I): −$681
• Tax from tax record: −$133 /mo · $1,602/yr
• Insurance: −$54
• HOA: −$787
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $-90

Break-even live

Break-even rent $2,096

Max offer price $114,077

Occupancy floor 100%

Sensitivity live

Price	-10% $-16	-5% $-53	+0% $-90	+5% $-126	+10% $-163
Rent	-10% $-246	-5% $-168	+0% $-90	+5% $-11	+10% $67
Rate	-1.0pp $-24	-0.5pp $-57	base $-90	+0.5pp $-123	+1.0pp $-157

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: $32,475
• Closing costs: $3,897
• 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	26d	1	0.05mi
2724 Garden Dr S #207 Lake Worth, FL	1.0	1.0	744	$1,850	$2.49	0d	1	0.14mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	6d	1	0.18mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	3d	1	0.18mi
2791 S Florida Mango Rd Lake Worth, FL	2.0	2.0	1100	$1,995	$1.81	22d	1	0.22mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	16d	1	0.22mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	9d	1	0.22mi
2428 Waterside Dr Unit 2428 Lake Worth Beach, FL	2.0	2.5	1400	$2,250	$1.61	26d	1	0.25mi
2856 Garden Dr S #112 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	26d	1	0.26mi
2721 Garden Dr N #105 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	22d	1	0.26mi
2391 Waterside Dr Unit 22d Lake Worth, FL	2.0	3.0	1328	$2,600	$1.96	26d	1	0.28mi
230 Lake Arbor Dr Palm Springs, FL	2.0	2.0	1232	$2,200	$1.79	26d	1	0.29mi
2508 10th Ave N Lake Worth Beach, FL	3.0	2.0	1025	$2,557	$2.49	26d	1	0.30mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,746	$2.18	15d	1	0.30mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,672	$2.09	12d	1	0.30mi
910 Rudolf Rd Lake Worth, FL	3.0	1.0	1000	$2,500	$2.50	26d	1	0.33mi
2901 10th Ave N Palm Springs, FL	2.0	1.0	900	$1,795	$1.99	26d	1	0.38mi
3386 Rudolph Rd Lake Worth Beach, FL	2.0	1.0	840	$2,100	$2.50	4d	1	0.40mi
331 Lake Arbor Dr Palm Springs, FL	2.0	2.0	1232	$2,300	$1.87	26d	1	0.42mi
21 Lake Arbor Dr Palm Springs, FL	2.0	2.5	1232	$2,500	$2.03	20d	1	0.46mi
3440 Rudolph Rd Unit 3440-03 Lake Worth Beach, FL	2.0	2.0	935	$2,100	$2.25	20d	1	0.48mi
3431 Helena Dr Unit 3481-11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	26d	1	0.48mi
3431 Helena Dr Lake Worth, FL	2.0	2.0	935	$2,075	$2.22	15d	2	0.48mi
3481 Helena Dr Unit 11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	26d	1	0.50mi
3300 Boutwell Rd Lake Worth Beach, FL	1.0–2.0	1.0–2.0	765	$2,720	$3.56	26d	1	0.51mi
100 Rex Ave Palm Springs, FL	2.0	2.0	1000	$1,850	$1.85	26d	3	0.52mi
3031 French Ave Lake Worth, FL	3.0	1.0	840	$2,400	$2.86	9d	1	0.59mi
220 Henthorne Dr Palm Springs, FL	1.0–2.0	1.5–2.0	900	$1,850	$2.06	26d	4	0.61mi
3017 Buckley Ave Lake Worth, FL	2.0	1.0	720	$2,200	$3.06	26d	1	0.63mi
124 Abaco Dr Palm Springs, FL	3.0	2.0	988	$2,900	$2.94	17d	1	0.65mi
1065 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,100	$1.91	4d	1	0.68mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,995	$2.90	3d	5	0.70mi
1020 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,200	$2.00	24d	1	0.74mi
1016 Manor Dr Unit 5c Palm Springs, FL	2.0	2.0	1098	$2,256	$2.05	26d	1	0.75mi
1742 W Terrace Dr Lake Worth Beach, FL	2.0	1.5	1000	$2,700	$2.70	26d	1	0.81mi
1802 Waterview Cir #1802 Palm Springs, FL	2.0	2.0	951	$1,925	$2.02	26d	1	0.90mi
2571 Lake Worth Rd Lake Worth, FL	1.0–2.0	1.0–2.0	750	$1,657	$2.21	3d	2	0.95mi
6003 Waterview Cir Palm Springs, FL	3.0	2.5	1500	$2,550	$1.70	26d	1	0.99mi
1719 15th Ave N Lake Worth Beach, FL	3.0	2.0	1014	$3,150	$3.11	1d	1	1.03mi
2220 Lake Worth Rd Lake Worth, FL	1.0	1.0	700	$1,779	$2.54	24d	1	1.04mi

HOA detail condo

• Monthly dues: $787 · $9,444/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 46 events

1. 2026-06-21
   days on market $129,900 Active 170 DOM
2. 2026-06-18
   days on market $129,900 Active 167 DOM
3. 2026-06-17
   days on market $129,900 Active 166 DOM
4. 2026-06-16
   days on market $129,900 Active 165 DOM
5. 2026-06-15
   days on market $129,900 Active 164 DOM
6. 2026-06-13
   days on market $129,900 Active 162 DOM
7. 2026-06-09
   days on market $129,900 Active 158 DOM
8. 2026-06-07
   days on market $129,900 Active 156 DOM
9. 2026-06-04
   days on market $129,900 Active 153 DOM
10. 2026-06-03
    days on market $129,900 Active 152 DOM
11. 2026-06-01
    days on market $129,900 Active 150 DOM
12. 2026-05-31
    days on market $129,900 Active 149 DOM
13. 2026-05-01
    historical $1,695
14. 2026-03-14
    price $129,900
15. 2026-01-04
    listed $1,695
16. 2026-01-02
    listed $139,900 Active
17. 2025-12-20
    historical $1,795
18. 2025-12-20
    price $1,795
19. 2025-12-05
    price $1,995
20. 2025-12-04
    listed $2,295
21. 2025-01-01
    historical
22. 2024-08-10
    price $149,900
23. 2024-07-01
    historical
24. 2024-06-21
    status Active
25. 2024-06-01
    historical
26. 2024-01-03
    listed $179,900 Active
27. 2023-12-31
    historical
28. 2023-11-22
    listed $179,000 Active
29. 2023-10-16
    listed $179,900 Active
30. 2023-10-01
    historical
31. 2023-07-11
    price $189,900
32. 2023-05-17
    listed $209,900 Active
33. 2023-03-31
    soldstatus $110,000
34. 2023-03-24
    soldstatus $110,000 Closed
35. 2023-01-16
    price $120,000
36. 2023-01-16
    historical Active Under Contract
37. 2023-01-14
    price $119,000
38. 2023-01-14
    status Active
39. 2022-12-31
    historical
40. 2022-12-20
    price $125,000
41. 2022-10-31
    price $135,000
42. 2022-10-17
    listed $139,000 Active
43. 2003-01-15
    soldstatus $50,000
44. 2000-05-02
    soldstatus $37,000
45. 1993-03-11
    soldstatus $35,000
46. 1981-03-01
    soldstatus $60,000

ⓘ 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: $1,602 · $133/mo
• Projected year-2 tax: $1,602 · $133/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 · 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: $23,791
• − Mortgage interest: −$7,276
• − Property taxes: −$1,602
• − Insurance: −$650
• − Repairs & maintenance: −$1,903
• − Management: −$1,903
• − HOA: −$9,444
• − Depreciation: −$3,779
• Taxable loss: −$2,766
• Est. tax savings @ 24.0%: +$664
• After-tax cash flow: $-411/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

-97.2% since first listed

34 events — show timeline

• 2026-05-01 Rental Removed $1,695 GFLMLS
• 2026-03-14 Price Changed $129,900 Beaches MLS
• 2026-01-04 Listed for Rent $1,695 GFLMLS
• 2026-01-02 Listed $139,900 Beaches MLS
• 2025-12-20 Rental Removed $1,795 GFLMLS
• 2025-12-20 Price Changed $1,795 GFLMLS
• 2025-12-05 Price Changed $1,995 GFLMLS
• 2025-12-04 Listed for Rent $2,295 GFLMLS
• 2025-01-01 Listing Removed — Beaches MLS
• 2024-08-10 Price Changed $149,900 Beaches MLS
• 2024-07-01 Listing Removed — MARMLS
• 2024-06-21 Relisted — Beaches MLS
• 2024-06-01 Listing Removed — Beaches MLS
• 2024-01-03 Listed $179,900 Beaches MLS
• 2023-12-31 Listing Removed — Beaches MLS
• 2023-11-22 Listed $179,000 MARMLS
• 2023-10-16 Listed $179,900 Beaches MLS
• 2023-10-01 Listing Removed — Beaches MLS
• 2023-07-11 Price Changed $189,900 Beaches MLS
• 2023-05-17 Listed $209,900 Beaches MLS
• 2023-03-31 Sold (Public Records) $110,000 Public Records
• 2023-03-24 Sold (MLS) $110,000 Beaches MLS
• 2023-01-16 Price Changed $120,000 Beaches MLS
• 2023-01-16 Contingent — Beaches MLS
• 2023-01-14 Price Changed $119,000 Beaches MLS
• 2023-01-14 Relisted — Beaches MLS
• 2022-12-31 Listing Removed — Beaches MLS
• 2022-12-20 Price Changed $125,000 Beaches MLS
• 2022-10-31 Price Changed $135,000 Beaches MLS
• 2022-10-17 Listed $139,000 Beaches MLS
• 2003-01-15 Sold (Public Records) $50,000 Public Records
• 2000-05-02 Sold (Public Records) $37,000 Public Records
• 1993-03-11 Sold (Public Records) $35,000 Public Records
• 1981-03-01 Sold (Public Records) $60,000 Public Records

Property tax history

+11.3%/yr

Latest (2025): $1,602 · -12.8% YoY. Source: county tax records.