434 Pine Glen Ln Unit A-1 · Greenacres, FL 33463

$114,900

2 bd · 2.0 ba · 922 sqft · Condo public records · 67 Days on market

Built 1981 $531/mo HOA · 27% of rent

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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 +17.9/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Unapproved short sale, motivated sellers. Process under way, please allow minimum 30 days for approval. BRING OFFERS! Don’t miss this one! A wonderful opportunity to own a beautifully maintained 2-bed/2-bath condo in a fantastic location. Step inside to an open-concept living space that seamlessly connects the living room, dining area, and kitchen. Enjoy an oversized screened-in porch, perfect for relaxing or entertaining, plus the convenience of an in-unit washer and dryer. This immaculate residence offers abundant storage, including walk-in closets in both bedrooms, a spacious laundry/utility room, and an additional storage closet on the front porch. Basic cable is included through

Key facts

• Walk-in closets
• Heated pool
• $531 HOA

Tags

• OPEN-CONCEPT LIVING SPACE
• OVERSIZED SCREENED-IN PORCH
• IN-UNIT WASHER AND DRYER
• WALK-IN CLOSETS
• SPACIOUS LAUNDRY UTILITY ROOM
• HEATED POOL

Property features AI

Finance

• Other: Pets: conditional or not allowed; restrictions or possible restrictions
• HOA & community: Monthly association fee of $531; HOA covers common areas, insurance, pool(s), trash and water; Association amenities include clubhouse and pool; Senior community

Exterior

• Parking: Two or more parking spaces
• Home design: Attached property; 2-story building; Entry at level 1
• Construction: Block construction; Year built: Unknown
• Exterior features: Balcony; Screened balcony/patio; Association pool

Interior

• Kitchen: Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Bedroom on main level; Walk-in closet(s)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $96 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#490 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools D+, employment 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 rising (+1.3%/yr); 346 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); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 32% 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 $794 of loan paydown is wiped out by about $3k 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 67 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y ago; this cycle's ask has dropped $35k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; HOA is 27% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 1.69% ✓
• Cap rate: 7.30%
• Cash-on-cash: 3.59%
• DSCR: 1.16
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.33% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.53×
• Total profit: $-15,278
• Equity at exit: $17,132

10-year hold

• IRR: -9.4%
• Equity multiple: 0.49×
• Total profit: $-16,434
• Equity at exit: $9,934

Cash invested: $32,172 (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 33463

• Home prices YoY: -30.9%
• Rents YoY: 1.3%
• Active inventory: 346
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,944 high
• Mortgage (P&I): −$603
• Tax from tax record: −$258 /mo · $3,101/yr
• Insurance: −$48
• HOA: −$531
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $96

Break-even live

Break-even rent $1,823

Max offer price $114,900

Occupancy floor 90%

Sensitivity live

Price	-10% $161	-5% $129	+0% $96	+5% $64	+10% $31
Rent	-10% $-57	-5% $19	+0% $96	+5% $173	+10% $250
Rate	-1.0pp $154	-0.5pp $125	base $96	+0.5pp $66	+1.0pp $36

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
429 Pine Glen Ln Unit C2 Greenacres, FL	2.0	1.0	804	$1,650	$2.05	25d	1	0.07mi
443 Pine Glen Ln Unit B2 Greenacres, FL	2.0	2.0	922	$1,500	$1.63	25d	1	0.09mi
407 Pine Cir Unit C1 Greenacres, FL	2.0	2.0	922	$1,800	$1.95	25d	1	0.11mi
407 Pine Cir Unit B1 Greenacres, FL	2.0	2.0	922	$1,750	$1.90	25d	1	0.11mi
446 Pine Glen Ln Unit A1 Greenacres, FL	1.0	1.0	614	$1,550	$2.52	15d	1	0.12mi
408 Pine Glen Ln Unit C-2 Greenacres, FL	2.0	1.0	804	$1,600	$1.99	25d	1	0.12mi
417 Pine Glen Ln Unit D2 Greenacres, FL	2.0	2.0	922	$1,550	$1.68	25d	1	0.17mi
417 Pine Glen Ln Unit C2 Greenacres, FL	2.0	2.0	922	$1,800	$1.95	25d	1	0.17mi
4838 Esedra Ct Lake Worth, FL	1.0	1.0	804	$1,550	$1.93	25d	2	0.24mi
4832 Esedra Ct Lake Worth, FL	1.0–3.0	1.0–2.0	1026	$1,650	$1.61	3d	2	0.27mi
4535 Oak Terrace Dr Greenacres, FL	3.0	2.0	1061	$2,500	$2.36	16d	1	0.27mi
4535 Oak Terrace Dr Greenacres, FL	3.0	2.0	1061	$2,400	$2.26	13d	1	0.27mi
4801 Esedra Ct Lake Worth, FL	2.0	2.0	1027	$2,075	$2.02	11d	2	0.28mi
4801 Esedra Ct #201 Lake Worth, FL	2.0	2.0	1005	$2,300	$2.29	25d	1	0.28mi
4243 Oak Terrace Dr #4243 Greenacres, FL	2.0	2.0	883	$1,950	$2.21	25d	1	0.40mi
4245 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$2,000	$2.27	25d	1	0.40mi
4254 Deste Ct #305 Greenacres, FL	1.0	1.0	716	$1,500	$2.09	25d	1	0.40mi
4259 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,900	$2.15	25d	1	0.41mi
4266 Deste Ct #107 Greenacres, FL	2.0	2.0	978	$2,100	$2.15	25d	1	0.43mi
4221 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,900	$2.15	25d	1	0.44mi
4185 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,850	$2.10	22d	1	0.44mi
4657 Fountains Dr S #206 Lake Worth, FL	1.0	1.0	882	$1,650	$1.87	12d	1	0.45mi
104 Lake Pine Cir Unit A1 Greenacres, FL	2.0	2.0	937	$2,050	$2.19	25d	1	0.47mi
5905 Triphammer Rd Lake Worth, FL	2.0	2.0	1020	$3,000	$2.94	25d	1	0.48mi
4147 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$2,000	$2.27	0d	1	0.49mi
4121 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,950	$2.21	25d	1	0.49mi
102 Lake Pine Cir Unit A2 Greenacres, FL	2.0	1.0	937	$1,500	$1.60	25d	1	0.50mi
4101 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,850	$2.10	11d	1	0.50mi
4242 Deste Ct Unit 208 Greenacres, FL	2.0	2.0	978	$2,500	$2.56	25d	1	0.50mi
6615 Waterfront Xing Lake Worth, FL	1.0–3.0	1.0–2.0	1087	$2,864	$2.63	0d	23	0.52mi
121 Lake Pine Cir Unit A2 Greenacres, FL	2.0	1.0	818	$1,600	$1.96	25d	1	0.55mi
105 Lake Pine Cir Unit B2 Greenacres, FL	2.0	2.0	937	$2,000	$2.13	25d	1	0.55mi
4236 Deste Ct #108 Greenacres, FL	1.0	1.0	716	$1,800	$2.51	18d	1	0.56mi
4284 Deste Ct #304 Greenacres, FL	1.0	1.0	716	$2,200	$3.07	17d	1	0.60mi
133 Lake Pine Cir Unit B1 Greenacres, FL	1.0	1.0	639	$1,450	$2.27	25d	1	0.60mi
133 Lake Pine Cir Greenacres, FL	1.0	1.0	639	$1,300	$2.03	19d	1	0.60mi
4230 Deste Ct Unit 305 Greenacres, FL	1.0	1.0	716	$1,900	$2.65	6d	1	0.62mi
4539 Luxemburg Ct Lake Worth, FL	2.0	2.0	1005	$2,250	$2.24	25d	1	0.62mi
4539 Luxemburg Ct Lake Worth, FL	2.0	2.0	1027	$2,250	$2.19	6d	1	0.62mi
4489 Luxemburg Ct #101 Lake Worth, FL	2.0	2.0	1005	$2,000	$1.99	25d	1	0.63mi

HOA detail condo

• Monthly dues: $531 · $6,372/yr
• Likely covers: cable
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-18
   days on market $114,900 Active 67 DOM
2. 2026-06-17
   days on market $114,900 Active 66 DOM
3. 2026-06-16
   days on market $114,900 Active 65 DOM
4. 2026-06-15
   days on market $114,900 Active 64 DOM
5. 2026-06-13
   statusdays on market $114,900 Active 62 DOM
6. 2026-05-17
   status Pending
7. 2026-04-27
   price $114,900
8. 2026-04-13
   price $129,500
9. 2026-04-09
   price $134,900
10. 2026-03-26
    price $140,000
11. 2026-03-03
    listed $149,900 Active
12. 2026-02-20
    historical
13. 2025-12-29
    price $175,900
14. 2025-11-30
    listed $179,000 Active
15. 2025-09-28
    historical
16. 2025-06-10
    price $174,900
17. 2025-05-18
    price $178,000
18. 2025-04-30
    listed $184,000 Active
19. 2025-03-04
    historical
20. 2024-09-04
    status Active
21. 2024-08-27
    historical
22. 2024-08-14
    price $190,000
23. 2024-02-27
    status Active
24. 2024-02-27
    historical
25. 2024-02-12
    status Active
26. 2023-11-26
    historical Active Under Contract
27. 2023-10-14
    price $199,000
28. 2023-08-25
    price $210,000
29. 2023-06-27
    listed $218,000 Active
30. 2022-04-08
    soldstatus $179,000
31. 2022-03-31
    historical
32. 2022-03-31
    soldstatus $179,000 Closed
33. 2022-02-21
    historical Active Under Contract
34. 2022-02-03
    listed $169,000 Active
35. 2017-11-13
    soldstatus $40,000
36. 2006-05-03
    soldstatus $155,000
37. 1981-10-01
    soldstatus $46,300

ⓘ 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: $3,101 · $258/mo
• Projected year-2 tax: $3,101 · $258/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 ≥106°F today · 28 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: $23,332
• − Mortgage interest: −$6,436
• − Property taxes: −$3,101
• − Insurance: −$574
• − Repairs & maintenance: −$1,867
• − Management: −$1,867
• − HOA: −$6,372
• − Depreciation: −$3,343
• Taxable loss: −$227
• Est. tax savings @ 24.0%: +$54
• After-tax cash flow: $1,209/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 — Greenacres

• Score: 69/100
• State rank: #490
• US rank: #9008

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenacres, FL
• County: Palm Beach County · 1,438,312 people
• City population: 65,478
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 65,478
• Household income: $73,865
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 1466.0

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 0.70)
• Race & ethnicity: Hispanic / Latino 38% Black 29% White 27% Two or more races 11% Asian 4%
• Hispanic origin (detail): Mexican 8% Puerto Rican 6% Cuban 5% Dominican 2%
• Common ancestry: Hispanic 15% Romanian 1% Slovak 1%
• Foreign-born: 39% · Canada, Jamaica, China
• Languages at home: 45% English-only · Spanish 32% French/Haitian/Cajun 17% 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: ▼ -175.33%
• Current HPI: 392.055
• Rent YoY: ▲ 1.33%
• 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

+148.2% since first listed

32 events — show timeline

• 2026-05-17 Pending — MARMLS
• 2026-04-27 Price Changed $114,900 MARMLS
• 2026-04-13 Price Changed $129,500 MARMLS
• 2026-04-09 Price Changed $134,900 MARMLS
• 2026-03-26 Price Changed $140,000 MARMLS
• 2026-03-03 Listed $149,900 MARMLS
• 2026-02-20 Listing Removed — MARMLS
• 2025-12-29 Price Changed $175,900 MARMLS
• 2025-11-30 Listed $179,000 MARMLS
• 2025-09-28 Listing Removed — Beaches MLS
• 2025-06-10 Price Changed $174,900 Beaches MLS
• 2025-05-18 Price Changed $178,000 Beaches MLS
• 2025-04-30 Listed $184,000 Beaches MLS
• 2025-03-04 Listing Removed — Beaches MLS
• 2024-09-04 Relisted — Beaches MLS
• 2024-08-27 Listing Removed — Beaches MLS
• 2024-08-14 Price Changed $190,000 Beaches MLS
• 2024-02-27 Relisted — Beaches MLS
• 2024-02-27 Listing Removed — Beaches MLS
• 2024-02-12 Relisted — Beaches MLS
• 2023-11-26 Contingent — Beaches MLS
• 2023-10-14 Price Changed $199,000 Beaches MLS
• 2023-08-25 Price Changed $210,000 Beaches MLS
• 2023-06-27 Listed $218,000 Beaches MLS
• 2022-04-08 Sold (Public Records) $179,000 Public Records
• 2022-03-31 Listing Removed — Beaches MLS
• 2022-03-31 Sold (MLS) $179,000 Beaches MLS
• 2022-02-21 Contingent — Beaches MLS
• 2022-02-03 Listed $169,000 Beaches MLS
• 2017-11-13 Sold (Public Records) $40,000 Public Records
• 2006-05-03 Sold (Public Records) $155,000 Public Records
• 1981-10-01 Sold (Public Records) $46,300 Public Records

Property tax history

+14.5%/yr

Latest (2025): $3,101 · +0.4% YoY. Source: county tax records.