1117 Green Pine Blvd Unit D2 · West Palm Beach, FL 33409

$197,000

2 bd · 2.0 ba · 1,106 sqft · Condo public records · 192 Days on market

Built 1985 $661/mo HOA · 24% 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 +22.8/30.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT 2 BEDROOM 2 BATH PALM CLUB UNIT. VERY WELL MAINTANED UNIT. FURNITURE CAN BE SOLD WITH SALE. MAN GATED COMMUNITY WITH JOGGING PATH, COMMUNITY POOL AND TENNIS COURTS. CLOSE TO THE NEW PALM BEACH OUTLETS AND THE NEW BASEBALL STADIUM . AMAZING COMMUNITY OF PALM CLUB. HOA COVERS WATER AND CABLE. 24 HOUR MANNED GUARD GATE. NO AGE RESTRICTIONS COMMUNITY. NO CREDIT SCORE REQUIREMENT.

Key facts

• Tile floor
• Breakfast nook
• Large living room

Tags

• TILE FLOOR
• UPDATED BATHROOM VANITIES
• LARGE LIVING ROOM
• BREAKFAST NOOK

Property features AI

Finance

• Financial info: Pets allowed with possible restrictions and limits
• HOA & community: Monthly HOA fee; Community amenities: clubhouse, jogging path, pool, tennis courts, sidewalks, street lights; HOA covers cable TV, insurance, grounds maintenance, security, common areas, and recreation facilities

Exterior

• Parking: Assigned parking; One open parking space
• Security: Gated community with guard; Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Water available; Sewer available
• Home design: Condominium; Multi/split levels; Entry level living area; Faces south; Single-story unit
• Construction: CBS construction
• Exterior features: Screened patio; Patio; No waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Walk-in closets; Dome kitchen
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $197k.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $197k).
• Recommended offer: $173k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 3.8% in West Palm Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#75 in FL, #1,255 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, crime 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: Seminole Trails Elementary School (math 26% / reading 36%, grade F, #1,854 of 2,144 statewide, top 87%, 650 students, 73% FRL); Bear Lakes Middle School (math 19% / reading 33%, grade F, #506 of 571 statewide, top 89%, 842 students, 74% FRL); Palm Beach Lakes High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 2,688 students, 70% FRL) — zoned schools average 72% FRL vs 52% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 50% district-wide (-23 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 soft (-0.1%/yr); 189 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).

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 192 days — a 12% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago; this cycle's ask is 10003% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $126k; list at $197k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 days. Have you received any prior offers? Is the seller open to a 12% 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.41% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.43%
• DSCR: 1.33
• GRM: 5.9

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: -9.2%
• Equity multiple: 0.67×
• Total profit: $-17,955
• Equity at exit: $29,373

10-year hold

• IRR: -6.0%
• Equity multiple: 0.68×
• Total profit: $-17,655
• Equity at exit: $17,033

Cash invested: $55,160 (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 33409

• Home prices YoY: -25.6%
• Rents YoY: -0.1%
• Active inventory: 189
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,775 high
• Mortgage (P&I): −$1,033
• Tax from tax record: −$74 /mo · $892/yr
• Insurance: −$82
• HOA: −$661
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $342

Break-even live

Break-even rent $2,342

Max offer price $197,000

Occupancy floor 83%

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: $49,250
• Closing costs: $5,910
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1211 Pine Sage Cir West Palm Beach, FL	3.0	2.0	1367	$3,200	$2.34	5d	1	0.36mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	24d	1	0.68mi
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	24d	1	0.73mi
4385 Willow Brook Cir West Palm Beach, FL	3.0	2.0	1468	$3,200	$2.18	22d	1	1.15mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$2,528	$2.07	17d	60	1.19mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	24d	1	1.26mi
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	24d	1	1.32mi
2400 Presidential Way #1906 West Palm Beach, FL	1.0	2.0	1294	$3,000	$2.32	24d	1	1.34mi
1991 Presidential Way West Palm Beach, FL	1.0	1.0	827	$3,427	$4.14	7d	1	1.34mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	16d	1	1.34mi
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$2,705	$2.53	19d	19	1.40mi
75 Sheffield D Unit D West Palm Beach, FL	2.0	1.5	798	$1,600	$2.01	1d	1	1.46mi
74 Sheffield D Unit D West Palm Beach, FL	2.0	1.5	798	$1,400	$1.75	24d	1	1.46mi
149 Stratford N West Palm Beach, FL	2.0	2.0	978	$1,650	$1.69	24d	1	1.47mi
110 Stratford N West Palm Beach, FL	1.0	1.5	740	$1,600	$2.16	18d	1	1.47mi

HOA detail condo

• Monthly dues: $661 · $7,932/yr
• Likely covers: watercablepoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $197,000 Active 192 DOM
2. 2026-06-17
   days on market $197,000 Active 191 DOM
3. 2026-06-16
   days on market $197,000 Active 190 DOM
4. 2026-06-15
   days on market $197,000 Active 189 DOM
5. 2026-06-13
   days on market $197,000 Active 187 DOM
6. 2026-06-09
   days on market $197,000 Active 183 DOM
7. 2026-06-07
   days on market $197,000 Active 181 DOM
8. 2026-06-04
   days on market $197,000 Active 178 DOM
9. 2026-06-03
   days on market $197,000 Active 177 DOM
10. 2026-06-01
    days on market $197,000 Active 175 DOM
11. 2026-05-31
    days on market $197,000 Active 174 DOM
12. 2026-04-09
    listed $1,950
13. 2026-04-09
    historical $1,950
14. 2026-01-10
    listed $1,950
15. 2026-01-10
    historical $1,950
16. 2026-01-08
    listed $1,950
17. 2025-12-08
    listed $197,000 Active
18. 2020-01-13
    soldstatus $126,000
19. 2020-01-08
    soldstatus $126,000 Closed 384-char remark

    Show marketing remark (384 chars)

    GREAT 2 BEDROOM 2 BATH PALM CLUB UNIT. VERY WELL MAINTANED UNIT. FURNITURE CAN BE SOLD WITH SALE. MAN GATED COMMUNITY WITH JOGGING PATH, COMMUNITY POOL AND TENNIS COURTS. CLOSE TO THE NEW PALM BEACH OUTLETS AND THE NEW BASEBALL STADIUM . AMAZING COMMUNITY OF PALM CLUB. HOA COVERS WATER AND CABLE. 24 HOUR MANNED GUARD GATE. NO AGE RESTRICTIONS COMMUNITY. NO CREDIT SCORE REQUIREMENT.

20. 2019-09-24
    historical Active Under Contract 384-char remark

    Show marketing remark (384 chars)

    GREAT 2 BEDROOM 2 BATH PALM CLUB UNIT. VERY WELL MAINTANED UNIT. FURNITURE CAN BE SOLD WITH SALE. MAN GATED COMMUNITY WITH JOGGING PATH, COMMUNITY POOL AND TENNIS COURTS. CLOSE TO THE NEW PALM BEACH OUTLETS AND THE NEW BASEBALL STADIUM . AMAZING COMMUNITY OF PALM CLUB. HOA COVERS WATER AND CABLE. 24 HOUR MANNED GUARD GATE. NO AGE RESTRICTIONS COMMUNITY. NO CREDIT SCORE REQUIREMENT.

21. 2019-08-15
    listed $132,500 Active 384-char remark

    Show marketing remark (384 chars)

    GREAT 2 BEDROOM 2 BATH PALM CLUB UNIT. VERY WELL MAINTANED UNIT. FURNITURE CAN BE SOLD WITH SALE. MAN GATED COMMUNITY WITH JOGGING PATH, COMMUNITY POOL AND TENNIS COURTS. CLOSE TO THE NEW PALM BEACH OUTLETS AND THE NEW BASEBALL STADIUM . AMAZING COMMUNITY OF PALM CLUB. HOA COVERS WATER AND CABLE. 24 HOUR MANNED GUARD GATE. NO AGE RESTRICTIONS COMMUNITY. NO CREDIT SCORE REQUIREMENT.

22. 1993-01-12
    soldstatus $51,000
23. 1984-11-01
    soldstatus $48,800

ⓘ 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: $892 · $74/mo
• Projected year-2 tax: $1,635 · $136/mo
• Expected delta: +$743/yr (+$62/mo · 83.3%)

ⓘ 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 · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,298
• − Mortgage interest: −$11,035
• − Property taxes: −$892
• − Insurance: −$985
• − Repairs & maintenance: −$2,664
• − Management: −$2,664
• − HOA: −$7,932
• − Depreciation: −$5,731
• Taxable income: $1,395
• Est. tax owed @ 24.0%: −$335
• After-tax cash flow: $3,764/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 — West Palm Beach

• Score: 82/100
• State rank: #75
• US rank: #1255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,489
• Household income: $67,073
• Rent vs Own: 55.3% rent · 44.7% own
• Severe rent burden: 1333.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 36% Black 31% White 27% Two or more races 21% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 8% Dominican 1%
• Common ancestry: Hispanic 8% Romanian 1% Lithuanian 1%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 55% English-only · Spanish 30% 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: ▼ -128.54%
• Current HPI: 374.2506
• Rent YoY: ▼ -0.15%
• 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

-96.0% since first listed

12 events — show timeline

• 2026-04-09 Listed for Rent $1,950 RMLSFL
• 2026-04-09 Rental Removed $1,950 GFLMLS
• 2026-01-10 Listed for Rent $1,950 GFLMLS
• 2026-01-10 Rental Removed $1,950 RMLSFL
• 2026-01-08 Listed for Rent $1,950 RMLSFL
• 2025-12-08 Listed $197,000 Beaches MLS
• 2020-01-13 Sold (Public Records) $126,000 Public Records
• 2020-01-08 Sold (MLS) $126,000 Beaches MLS
• 2019-09-24 Contingent — Beaches MLS
• 2019-08-15 Listed $132,500 Beaches MLS
• 1993-01-12 Sold (Public Records) $51,000 Public Records
• 1984-11-01 Sold (Public Records) $48,800 Public Records

Property tax history

-2.4%/yr

Latest (2025): $892 · +3.1% YoY. Source: county tax records.