113 Parkside Way · Wellington, FL 33414

$1,066,065

5 bd · 4.5 ba · 3,682 sqft · SingleFamily · 44 Days on market

Built 2026 Excellent condition

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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).

• Cash flow +12.4/30.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• Schools +4.3/10.0
• DSCR +3.7/10.0
• Livability +3.7/5.0
• 1% rule +3.5/10.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience the ultimate Florida lifestyle with a new construction home at Parkside in Royal Palm Beach, FL. Located in Palm Beach County near Wellington and just 11 miles from downtown West Palm Beach, Parkside offers luxurious single-family homes with up to 5 bedrooms, 4.5 baths, and over 3,680 sq. ft. Styled with K. Hovnanian's Looks®, these new homes combine resort-style amenities, flexible home designs, and a convenient location close to shopping, dining, recreation, and the Atlantic Coast. For homebuyers searching for new homes in Palm Beach County, Parkside offers a convenient Royal Palm Beach location near Wellington, West Palm Beach, Lake Worth, and major everyday destinations.

Key facts

• Open concept living
• Amazing location
• Efficient kitchen

Tags

• RESORT-STYLE AMENITIES
• AMAZING LOCATION
• OUTDOOR ACTIVITIES
• EFFICIENT KITCHEN
• DESIGNER CABINETRY
• OPEN CONCEPT LIVING

Property features AI

Finance

• Financial info: List price $1,066,065

Exterior

• Parking: 2 parking spaces
• Home design: Single-family residence (Wicklow IV)
• Exterior features: Address: 113 Parkside Way, Royal Palm Beach, FL 33414; Living area approximately 3,682

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 4 full bathrooms and 1 half bathroom (4.5 total)
• Interior features: Spec home (Wicklow IV plan)

What this means for you Summary

Snapshot

• This is a 5-bed/4.5-bath single-family listed at $1.07M. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-167 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.04M (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $911k (14.5% below list).
• Recommended offer: $911k (14.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.4% in Wellington — 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 73/100 on livability (#294 in FL, #4,986 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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: New Horizons Elementary School (math 55% / reading 64%, grade B-, #690 of 2,144 statewide, top 34%, 727 students, 45% FRL); Polo Park Middle School (math 65% / reading 68%, grade A-, #84 of 571 statewide, top 16%, 1,156 students, 33% FRL); Wellington High School (math 57% / reading 65%, grade C+, #102 of 667 statewide, top 15%, 2,688 students, 29% FRL) — zoned schools average 36% FRL vs 52% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 62% at this address vs 50% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Palm Beach average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.3%/yr); 621 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $9,115/mo this rent would consume 97% of the median local household income ($112k/yr) (locally 1566% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $32k 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 44 days — a 3% lower offer ($1.03M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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.

Recommended offer $911,475 (14.5% 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 44 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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?
6. 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.
7. 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.
8. 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: 0.85% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.67%
• DSCR: 0.97
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: -18.2%
• Equity multiple: 0.37×
• Total profit: $-189,512
• Equity at exit: $158,954

10-year hold

• IRR: -11.8%
• Equity multiple: 0.32×
• Total profit: $-203,569
• Equity at exit: $92,174

Cash invested: $298,498 (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 33414

• Home prices YoY: -30.2%
• Rents YoY: 2.3%
• Active inventory: 621
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $9,115 high
• Mortgage (P&I): −$5,591
• Tax est. 1.5%: −$1,333 /mo · $15,991/yr
• Insurance: −$444
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,914
• Net cashflow: $-167

Break-even live

Break-even rent $9,326

Max offer price $1,041,946

Occupancy floor 97%

Sensitivity live

Price	-10% $570	-5% $202	+0% $-167	+5% $-535	+10% $-903
Rent	-10% $-887	-5% $-527	+0% $-167	+5% $193	+10% $553
Rate	-1.0pp $370	-0.5pp $104	base $-167	+0.5pp $-443	+1.0pp $-724

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: $266,516
• Closing costs: $31,982
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2400 Seaford Dr Wellington, FL	5.0	3.5	3136	$12,000	$3.83	26d	1	0.06mi
2281 Seaford Dr Wellington, FL	4.0	2.5	2522	$10,000	$3.97	26d	1	0.12mi
12725 Kingsway Rd Wellington, FL	5.0	2.5	2902	$9,500	$3.27	26d	1	0.13mi
1878 Lynton Cir Wellington, FL	6.0	3.5	2652	$30,000	$11.31	26d	1	0.47mi
2427 Players Ct Wellington, FL	4.0	4.0	4361	$12,500	$2.87	9d	1	0.57mi
1880 Grantham Ct Wellington, FL	4.0	2.0	2799	$11,000	$3.93	26d	1	0.58mi
2770 Polo Island Dr Unit B301 Wellington, FL	4.0	4.0	2500	$15,000	$6.00	26d	1	0.59mi
2785 Polo Island Dr Unit J301 Wellington, FL	4.0	4.0	2500	$5,500	$2.20	26d	1	0.63mi
1654 Farmington Cir Wellington, FL	4.0	2.5	2539	$6,900	$2.72	6d	1	0.64mi
1741 Grantham Dr Wellington, FL	4.0	2.0	2469	$3,475	$1.41	9d	1	0.70mi
1773 Wiltshire Village Dr Wellington, FL	4.0	2.5	2709	$5,900	$2.18	20d	1	0.71mi
3192 Blue Cypress Ln Wellington, FL	5.0	6.5	4685	$35,000	$7.47	26d	1	0.76mi
12200 Sunnydale Dr Wellington, FL	4.0	4.5	3333	$25,000	$7.50	1d	1	0.77mi
11839 Maidstone Dr Wellington, FL	5.0	4.5	4412	$20,000	$4.53	26d	1	1.01mi
13710 Callington Dr Wellington, FL	4.0	3.0	2855	$5,000	$1.75	26d	1	1.11mi
2585 Sheltingham Dr Wellington, FL	4.0	5.5	3163	$9,000	$2.85	26d	1	1.11mi
13805 Folkestone Cir Wellington, FL	4.0	3.0	2951	$3,700	$1.25	15d	1	1.12mi
13646 Callington Dr Wellington, FL	5.0	4.0	3100	$13,000	$4.19	16d	1	1.13mi
13646 Callington Dr Wellington, FL	5.0	4.0	3100	$13,000	$4.19	26d	1	1.13mi
13805 Sheffield St Wellington, FL	4.0	2.5	2462	$4,300	$1.75	20d	1	1.15mi
13847 Geranium Pl Wellington, FL	5.0	3.0	2961	$5,800	$1.96	26d	1	1.19mi
1212 Mulberry Pl Wellington, FL	4.0	2.5	2500	$4,200	$1.68	13d	1	1.22mi
1212 Mulberry Pl Wellington, FL	4.0	2.5	2500	$3,950	$1.58	0d	1	1.22mi
1342 Essex Dr Wellington, FL	4.0	2.0	2652	$8,000	$3.02	26d	1	1.23mi
2530 Windsor Way Ct Unit N/A Wellington, FL	4.0	5.5	3163	$15,000	$4.74	17d	1	1.23mi
2530 Windsor Way Ct Wellington, FL	4.0	5.5	3163	$9,500	$3.00	26d	1	1.23mi
1123 Northumberland Ct Wellington, FL	5.0	3.0	2487	$6,000	$2.41	26d	1	1.27mi
1307 Hempstead St Wellington, FL	6.0	4.0	2560	$2,500	$0.98	1d	1	1.32mi
13557 Northumberland Cir Wellington, FL	5.0	3.5	2821	$7,000	$2.48	24d	1	1.33mi
1860 Primrose Ln Wellington, FL	6.0	4.0	2561	$10,000	$3.90	26d	1	1.36mi

Listing history 12 events

1. 2026-06-21
   days on market $1,066,065 Active 44 DOM
2. 2026-06-18
   days on market $1,066,065 Active 41 DOM
3. 2026-06-17
   days on market $1,066,065 Active 40 DOM
4. 2026-06-16
   days on market $1,066,065 Active 39 DOM
5. 2026-06-15
   days on market $1,066,065 Active 38 DOM
6. 2026-06-13
   days on market $1,066,065 Active 36 DOM
7. 2026-06-09
   days on market $1,066,065 Active 32 DOM
8. 2026-06-07
   days on market $1,066,065 Active 30 DOM
9. 2026-06-04
   days on market $1,066,065 Active 27 DOM
10. 2026-06-03
    days on market $1,066,065 Active 26 DOM
11. 2026-06-01
    days on market $1,066,065 Active 24 DOM
12. 2026-05-31
    days on market $1,066,065 Active 23 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥107°F today · 22 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $109,377
• − Mortgage interest: −$59,716
• − Property taxes: −$15,991
• − Insurance: −$5,330
• − Repairs & maintenance: −$8,750
• − Management: −$8,750
• − Depreciation: −$31,013
• Taxable loss: −$20,174
• Est. tax savings @ 24.0%: +$4,842
• After-tax cash flow: $2,841/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.

Condition & rehab AI · 3 photos

Excellent 100/100 None rehab

This new construction home in Parkside, Wellington, FL, is in excellent condition with modern design and features. It is move-in ready and offers a luxurious lifestyle with resort-style amenities and a convenient location.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental.
• Both Interior paint touch-ups — Fresh paint can make a home more appealing and increase its value.
• Both Kitchen appliances upgrade — Modern appliances can increase the home's appeal and value for both resale and rental.
• Both Bathroom updates — Updating bathrooms can significantly increase the home's value for both resale and rental.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Interior paint touch-ups — Fresh paint can make a home more appealing and increase its value. ↑
• Both Kitchen appliances upgrade — Modern appliances can increase the home's appeal and value for both resale and rental. ↑
• Both Bathroom updates — Updating bathrooms can significantly increase the home's value for both resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Wellington

• Score: 73/100
• State rank: #294
• US rank: #4986

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wellington, FL
• County: Palm Beach County · 1,438,312 people
• City population: 60,184
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 60,184
• Household income: $112,241
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 1566.0

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 0.67)
• Race & ethnicity: White 47% Hispanic / Latino 29% Two or more races 20% Black 13% Asian 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Cuban 6% Dominican 1% Salvadoran 1%
• Common ancestry: Hispanic 4% Romanian 3% Lithuanian 2%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 67% English-only · Spanish 23% French/Haitian/Cajun 3% Other Indo-European 3%

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: ▼ -152.58%
• Current HPI: 352.9366
• Rent YoY: ▲ 2.31%
• 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