11944 Cypress Key Way · Royal Palm Beach, FL 33411

$490,000

3 bd · 2.5 ba · 2,222 sqft · Townhouse public records · 74 Days on market

Built 2017 $361/mo HOA · 10% 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.9/30.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +0.3/10.0

Listing remarks

Well maintained 3 bedroom, 2.5 bath townhouse w/ large 2 car garage (complete w/ EV charger port!) in Royal Palm minutes from the Wellington Equestrian Club. This townhouse is waiting for you to call it home! Open concept kitchen w/ granite countertops + plenty of counter space. Light + bright floor plan w/ high ceilings + tile floors throughout. New carpet on Staircase. The spacious master bedroom features a soaking tub. shower + an large walk-in closet. Oversized 2 car garage has ample storage parking. Enjoy the outdoors w/ a private fenced in back yard (which is also perfect for pets. ) Residents enjoy community amenities, including a clubhouse, fitness center, resort-style pool, + sceni

Key facts

• Fitness center
• Clubhouse
• Ev charger port

Tags

• EV CHARGER PORT
• GRANITE COUNTERTOPS
• PRIVATE FENCED IN BACK YARD
• COMMUNITY AMENITIES
• CLUBHOUSE
• FITNESS CENTER

Property features AI

Finance

• Other: Pets allowed with possible restrictions and limits
• HOA & community: Monthly HOA fee (included services): $361; includes cable TV, insurance, grounds maintenance, pest control, sewer, trash, and common area maintenance; Community amenities: pool, clubhouse, fitness center, business center, community room, game room, playground, basketball court, jogging path, sidewalks, street lights

Exterior

• Parking: Attached 2-car garage; 2 covered parking spaces
• Security: Fire alarm; Smoke detectors; Owned security system
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Townhouse; Multi/split levels (2 stories); Resale property; Faces north; Public road frontage
• Construction: Block/CBS construction; Composition/shingle roof; Built on foundation per public records
• Exterior features: Covered patio; Screened porch; Patio; Porch; Fenced yard; Sidewalks; Not waterfront

Interior

• Kitchen: Disposal; Electric range; Microwave; Refrigerator
• Bedrooms: No main-level bedrooms
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms and 1 half bathroom (3 total)
• Heating & cooling: Central heating; Central air; Ceiling paddle fans
• Interior features: Built-in features; Entrance foyer; Kitchen island; Walk-in closets; Unfurnished
• Laundry & utility: Inside laundry area with washer hookup and dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $490k.

Deal economics

• At list price, monthly cash flow is $-955 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $321k (34.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $360k (26.6% below list).
• Recommended offer: $321k (34.4% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 79/100 on livability (#135 in FL, #2,039 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living C-, 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: Cypress Trails Elementary School (math 52% / reading 62%, grade C+, #781 of 2,144 statewide, top 38%, 492 students, 53% FRL); Crestwood Community Middle (math 49% / reading 52%, grade C, #246 of 571 statewide, top 44%, 724 students, 50% FRL); Royal Palm Beach High School (math 22% / reading 38%, grade F, #441 of 667 statewide, top 67%, 2,343 students, 57% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents flat; 574 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); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $3,598/mo this rent would consume 47% of the median local household income ($93k/yr) (locally 1870% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $52k of equity ($3k loan paydown + $49k appreciation (10.0% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$84k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($461k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 3y ago; this cycle's ask has dropped $28k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $321,235 (34.4% 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 74 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.73% ✗
• Cap rate: 3.95%
• Cash-on-cash: -8.36%
• DSCR: 0.63
• GRM: 11.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: 17.8%
• Equity multiple: 2.45×
• Total profit: $198,708
• Equity at exit: $441,431

10-year hold

• IRR: 16.3%
• Equity multiple: 5.52×
• Total profit: $619,480
• Equity at exit: $951,962

Cash invested: $137,200 (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 33411

• Home prices YoY: 1.9%
• Rents YoY: 0.8%
• Active inventory: 574
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $3,598 high
• Mortgage (P&I): −$2,570
• Tax from tax record: −$663 /mo · $7,952/yr
• Insurance: −$204
• HOA: −$361
• Vacancy / Maint / Mgmt: −$755
• Net cashflow: $-955

Break-even live

Break-even rent $4,807

Max offer price $321,235

Occupancy floor —

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: $122,500
• Closing costs: $14,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
63 Dogwood Ct Royal Palm Beach, FL	3.0	2.5	2222	$3,500	$1.58	17d	1	0.08mi
63 Dogwood Ct Royal Palm Beach, FL	3.0	2.5	2222	$3,500	$1.58	19d	1	0.08mi
94 Palm Ln Royal Palm Beach, FL	3.0	2.5	2222	$3,200	$1.44	24d	1	0.24mi
106 Fernwood Cres Royal Palm Beach, FL	4.0	2.0	2088	$3,500	$1.68	15d	1	0.34mi
1400 Crestwood Ct S #1402 Royal Palm Beach, FL	4.0	2.0	1459	$3,000	$2.06	24d	1	0.35mi
133 Black Olive Cres Royal Palm Beach, FL	3.0	2.0	1752	$4,500	$2.57	24d	1	0.56mi
908 Hibiscus Dr Royal Palm Beach, FL	3.0	2.0	1973	$3,600	$1.82	3d	1	0.64mi
280 Sulky Way Wellington, FL	4.0	2.0	2278	$4,500	$1.98	17d	1	0.69mi
220 Crestwood Cir #106 Royal Palm Beach, FL	3.0	2.0	1520	$2,650	$1.74	24d	1	0.72mi
876 Gardenia Dr Royal Palm Beach, FL	2.0	2.0	1502	$3,500	$2.33	24d	1	0.74mi
849 Camellia Dr Royal Palm Beach, FL	3.0	2.0	1599	$3,400	$2.13	24d	1	0.78mi
12101 Tumbleweed Ct Wellington, FL	3.0	2.5	2636	$11,000	$4.17	24d	1	0.79mi
180 Seminole Lakes Dr Royal Palm Beach, FL	3.0	2.0	1856	$3,500	$1.89	24d	1	0.85mi
12351 Gingerwood Ln Wellington, FL	4.0	2.0	2053	$3,600	$1.75	8d	1	0.87mi
12351 Gingerwood Ln Wellington, FL	4.0	2.0	2053	$3,856	$1.88	24d	1	0.87mi
12280 Gingerwood Ln Wellington, FL	3.0	2.0	1601	$3,150	$1.97	15d	1	0.87mi
113 Sandpiper Ave Royal Palm Beach, FL	3.0	2.0	1798	$3,500	$1.95	12d	1	0.90mi
12192 Branding Iron Ct Wellington, FL	3.0	2.5	2293	$7,500	$3.27	15d	1	0.92mi
502 Rambling Drive Cir Unit 1 Wellington, FL	3.0	1.0	2600	$3,600	$1.38	24d	1	0.93mi
502 Rambling Drive Cir Unit 2 Wellington, FL	2.0	1.0	1413	$2,400	$1.70	24d	1	0.93mi
7u60 Windtree Way Wellington, FL	3.0	2.5	2395	$8,500	$3.55	24d	1	0.98mi
148 Scarborough Ter Wellington, FL	3.0	2.5	2376	$10,000	$4.21	24d	1	1.05mi
213 River Bluff Ln Royal Palm Beach, FL	3.0	2.5	1579	$2,800	$1.77	24d	1	1.10mi
661 Lake Wellington Dr Wellington, FL	3.0	2.0	1408	$5,000	$3.55	24d	1	1.12mi
12497 Guilford Way Wellington, FL	3.0	2.0	1437	$4,500	$3.13	24d	1	1.15mi
690 Via Toscana Wellington, FL	3.0	2.0	1432	$3,200	$2.23	24d	1	1.15mi
112 Wakulla Springs Way #112 Royal Palm Beach, FL	2.0	2.5	1623	$4,000	$2.46	24d	1	1.17mi
460 Rainbow Springs Ter Royal Palm Beach, FL	3.0	2.5	1579	$2,950	$1.87	24d	1	1.21mi
100 Sparrow Dr #2 Royal Palm Beach, FL	3.0	2.0	1824	$2,725	$1.49	19d	1	1.23mi
274 River Bluff Ln Royal Palm Beach, FL	3.0	2.5	1579	$3,000	$1.90	24d	1	1.23mi
100 Sparrow Dr #14 Royal Palm Beach, FL	3.0	2.0	1737	$2,725	$1.57	24d	1	1.26mi
1112 White Pine Dr Unit 1116 Wellington, FL	3.0	2.5	1483	$3,250	$2.19	24d	1	1.27mi
930 Rambling Drive Cir Wellington, FL	3.0	2.5	2440	$7,950	$3.26	24d	1	1.30mi
13122 Via Veneto Wellington, FL	3.0	3.0	1729	$3,500	$2.02	24d	1	1.33mi
12775 Guilford Cir Wellington, FL	4.0	3.0	2212	$7,000	$3.16	24d	1	1.36mi
13175 Quiet Woods Rd Unit A Wellington, FL	3.0	2.5	1585	$3,000	$1.89	2d	1	1.41mi
13175 Quiet Woods Rd Unit A Wellington, FL	3.0	2.5	1585	$3,000	$1.89	17d	1	1.41mi
1000 Lake Breeze Dr Wellington, FL	3.0	2.0	1857	$3,900	$2.10	4d	1	1.41mi
1000 Lake Breeze Dr Wellington, FL	3.0	2.0	1857	$3,500	$1.88	3d	1	1.41mi
1342 Essex Dr Wellington, FL	4.0	2.0	2652	$8,000	$3.02	24d	1	1.41mi

HOA detail

• Monthly dues: $361 · $4,332/yr
• Likely covers: poolgym

Listing history 23 events

1. 2026-04-22
   status Pending
2. 2026-04-01
   status Active
3. 2026-04-01
   price $490,000
4. 2026-03-25
   status Pending
5. 2026-03-06
   price $500,000
6. 2026-02-18
   price $515,000
7. 2026-01-31
   listed $518,000 Active
8. 2024-07-24
   historical $3,500
9. 2024-07-22
   listed $3,500
10. 2024-07-08
    historical $3,500
11. 2024-07-06
    listed $3,500
12. 2024-06-30
    historical $3,500
13. 2024-06-28
    listed $3,500
14. 2024-06-21
    historical $3,500
15. 2024-06-18
    listed $3,500
16. 2024-04-01
    historical $3,500
17. 2024-03-05
    listed $3,500
18. 2024-03-05
    historical $3,500
19. 2024-01-20
    listed $3,500
20. 2024-01-20
    historical $3,500
21. 2024-01-19
    listed $3,500
22. 2024-01-12
    historical $3,250
23. 2023-12-30
    listed $3,250

ⓘ 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: $7,952 · $663/mo
• Projected year-2 tax: $7,952 · $663/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 ≥107°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,171
• − Mortgage interest: −$27,448
• − Property taxes: −$7,952
• − Insurance: −$2,450
• − Repairs & maintenance: −$3,454
• − Management: −$3,454
• − HOA: −$4,332
• − Depreciation: −$14,255
• Taxable loss: −$20,172
• Est. tax savings @ 24.0%: +$4,841
• After-tax cash flow: $-6,623/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 — Royal Palm Beach

• Score: 79/100
• State rank: #135
• US rank: #2039

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Royal Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 75,299
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 76,863
• Household income: $92,591
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 1870.0

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: White 44% Hispanic / Latino 24% Black 23% Two or more races 16% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 4% Dominican 2%
• Common ancestry: Hispanic 6% Romanian 2% Italian 1%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 17% French/Haitian/Cajun 4% 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: ▲ 17.04%
• Current HPI: 903.78
• Rent YoY: ▲ 0.85%
• 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

+14976.9% since first listed

23 events — show timeline

• 2026-04-22 Pending — Beaches MLS
• 2026-04-01 Relisted — Beaches MLS
• 2026-04-01 Price Changed $490,000 Beaches MLS
• 2026-03-25 Pending — Beaches MLS
• 2026-03-06 Price Changed $500,000 Beaches MLS
• 2026-02-18 Price Changed $515,000 Beaches MLS
• 2026-01-31 Listed $518,000 Beaches MLS
• 2024-07-24 Rental Removed $3,500 REALLYO
• 2024-07-22 Listed for Rent $3,500 REALLYO
• 2024-07-08 Rental Removed $3,500 REALLYO
• 2024-07-06 Listed for Rent $3,500 REALLYO
• 2024-06-30 Rental Removed $3,500 REALLYO
• 2024-06-28 Listed for Rent $3,500 REALLYO
• 2024-06-21 Rental Removed $3,500 REALLYO
• 2024-06-18 Listed for Rent $3,500 REALLYO
• 2024-04-01 Rental Removed $3,500 REALLYO
• 2024-03-05 Listed for Rent $3,500 REALLYO
• 2024-03-05 Rental Removed $3,500 REALLYO
• 2024-01-20 Listed for Rent $3,500 REALLYO
• 2024-01-20 Rental Removed $3,500 APPFOLIO
• 2024-01-19 Listed for Rent $3,500 APPFOLIO
• 2024-01-12 Rental Removed $3,250 GFLMLS
• 2023-12-30 Listed for Rent $3,250 GFLMLS

Property tax history

+32.4%/yr

Latest (2025): $7,952 · +6.1% YoY. Source: county tax records.