4260 Deste Ct #205

Greenacres, FL 33467

$128,000C-

1 bd · 1.0 ba · 716 sqft · Built 1974 · Condo · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,850/mo
• Mortgage (P&I): −$671
• Tax + insurance: −$213
• HOA: −$505
• Vac / Maint / Mgmt: −$388
• Net cashflow: $72/mo
• Annual: $859/yr
• Cap rate: 6.96%
• Cash-on-cash: 2.40%
• DSCR: 1.11
• 1% rule: 1.44%
• Cash to close: $35,840

Investor read

• This is a 1-bed/1.0-bath condo listed at $128k. Condition is rated good.
• At list price, monthly cash flow is $72 ($859/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $885 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• 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: 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: Heritage Elementary School (math 35% / reading 39%, grade F, #1,609 of 2,144 statewide, top 77%, 786 students, 75% FRL); Woodlands Middle School (math 51% / reading 58%, grade B-, #183 of 571 statewide, top 34%, 1,551 students, 40% FRL).
• Watch-outs: HOA is 27% of rent.
• Market conditions: Rents soft (-0.4%/yr); 651 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Paint — Some wear on interior walls
• Minor: Flooring — Tiled floors in common areas