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113 Parkside Way
C- Composite 53.63
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).

  • ARV discount +15.0/15.0
  • Cash flow +13.1/30.0
  • Schools +6.2/10.0
  • Condition / age +5.0/5.0
  • DSCR +3.9/10.0
  • 1% rule +3.7/10.0
  • Livability +3.7/5.0
  • Rent growth +3.1/5.0
  • Appreciation +0.0/10.0

$1,019,995

113 Parkside Way · Wellington, FL 33414
5 bd · 4.5 ba · 3,682 sqft · SingleFamily · 138 Days on market
Built 2026 Excellent condition $277/sqft · 32% below area Est $1.499M · 32% under

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Experience the ultimate Florida lifestyle with a new home at Parkside in Royal Palm Beach. Styled with K. Hovnanian's Looks®, choose from a variety of luxurious single-family homes with up to 5 bedrooms, 4.5 baths, and over 3,680 sq. ft. Enjoy resort-style amenities steps from your front door and a commutable location near I-95, the Florida Turnpike, and downtown Wellington, within 15 miles of West Palm Beach and the Atlantic Ocean. Discover a walkable lifestyle, with a 43-acre mixed-use village coming soon just outside Parkside, offering an experience similar to West Palm Beach's CityPlace.

Key facts

  • Open concept living
  • Amazing location
  • Efficient kitchen

Tags

RESORT-STYLE AMENITIESAMAZING LOCATIONOUTDOOR ACTIVITIESEFFICIENT KITCHENDESIGNER CABINETRYOPEN CONCEPT LIVING

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 5-bed/4.5-bath single-family listed at $1.02M. Condition is rated excellent.

Deal economics

  • At list price, monthly cash flow is $-44 ($-524/yr) — negative.
  • To cash-flow at today's rent, offer at most $1.01M (0.6% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $887k (13.1% below list).
  • Recommended offer: $887k (13.1% below list) — sets the bar for 1% rule.
  • Cap rate 6.2% vs local median 3.7% 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); 803 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 103d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
  • At $8,867/mo this rent would consume 95% of the median local household income ($112k/yr) (locally 15% 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 $31k 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 138 days — a 12% lower offer ($898k) 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 $886,748 (13.1% 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 138 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
  3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  5. 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?
  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
0.87%
Cap rate
6.24%
Cash-on-cash
-0.18%
DSCR
0.99
GRM
9.6

CMA / ARV

ARV (median comp)
$1,499,029
List price
$1,019,995
Delta
-31.29%
Verdict
UNDERPRICED
Comps
20 within 1.0 mi
Show comp detail 8 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
12940 Mizner Way 0.36mi 4/4.0 (-1) 3,785 (+3%) 3mo $3,750,000 $991 69
2063 Amesbury Cir 0.19mi 5/2.5 2,945 (-20%) 0mo $800,000 $272 58
2144 Henley Pl 0.48mi 4/3.5 (-1) 3,461 (-6%) 4mo $1,700,000 $491 55
3208 Blue Cypress Ln 0.78mi 4/4.5 (-1) 4,028 (+9%) 1mo $3,750,000 $931 43
2287 Sunderland Ave 0.25mi 4/2.5 (-1) 2,975 (-19%) 23mo $975,000 $328 31
2054 Henley Pl 0.59mi 4/3.0 (-1) 3,095 (-16%) 6mo $1,360,000 $439 31
2890 Bent Cypress Rd 1.09mi 4/4.5 (-1) 3,199 (-13%) 14mo $2,650,000 $828 26
2805 Blue Cypress Ln 0.80mi 5/5.5 4,369 (+19%) 15mo $7,384,581 $1,690 24

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold
IRR
-17.4%
Equity multiple
0.39×
Total profit
$-174,044
Equity at exit
$152,085
10-year hold
IRR
-10.7%
Equity multiple
0.37×
Total profit
$-179,334
Equity at exit
$88,191

Cash invested: $285,599 (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.
Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
27 active · 5 under contract
Months of supply
20.2 mo (5%/mo absorbed)
Median asking
$1,795,000 ($537/sqft)
Median days on market
137 d
This list price
19% of active listings are priced below it
ARV vs active asking
-24.2% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33414

Home prices YoY
-30.2%
Rents YoY
2.3%
Active inventory
803
Price-to-rent
9.6×

Monthly cashflow live

Estimated rent
$8,867 high interval (Pro) →
Mortgage (P&I)
$5,349
Tax est. 1.5%
$1,275 /mo · $15,300/yr
Insurance
$425
HOA
$0
Vacancy / Maint / Mgmt
$1,862
Net cashflow
$-44

Break-even live

Break-even rent $8,923
Max offer price $1,013,679
Occupancy floor 95%

Sensitivity live

Price -10% $661 -5% $309 +0% $-44 +5% $-396 +10% $-749
Rent -10% $-744 -5% $-394 +0% $-44 +5% $307 +10% $657
Rate -1.0pp $470 -0.5pp $216 base $-44 +0.5pp $-308 +1.0pp $-577

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
$254,999
Closing costs
$30,600
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
2400 Seaford Dr Wellington, FL 5.0 3.5 3136 $12,000 $3.83 120d 1 0.06mi
2281 Seaford Dr Wellington, FL 4.0 2.5 2522 $10,000 $3.97 120d 1 0.12mi
12725 Kingsway Rd Wellington, FL 5.0 2.5 3002 $7,100 $2.37 0d 1 0.13mi
12725 Kingsway Rd Wellington, FL 5.0 2.5 3002 $9,800 $3.26 60d 1 0.13mi
12725 Kingsway Rd Wellington, FL 5.0 2.5 2902 $9,500 $3.27 120d 1 0.13mi
2029 Greenview Cove Dr Unit 2029 Wellington, FL 4.0 4.5 2693 $6,500 $2.41 20d 1 0.30mi
1878 Lynton Cir Wellington, FL 6.0 3.5 2652 $30,000 $11.31 120d 1 0.47mi
2427 Players Ct Wellington, FL 4.0 4.0 4361 $17,000 $3.90 11d 1 0.57mi
1880 Grantham Ct Wellington, FL 4.0 2.0 2799 $12,500 $4.47 20d 1 0.58mi
1880 Grantham Ct Wellington, FL 4.0 2.0 2799 $11,000 $3.93 120d 1 0.58mi
2770 Polo Island Dr Unit B301 Wellington, FL 4.0 4.0 2500 $15,000 $6.00 120d 1 0.59mi
2514 Players Ct Wellington, FL 5.0 4.5 3340 $10,000 $2.99 85d 1 0.62mi
2785 Polo Island Dr Unit J301 Wellington, FL 4.0 4.0 2500 $5,500 $2.20 120d 1 0.63mi
2785 Polo Island Dr Unit J301 Wellington, FL 4.0 4.0 2500 $14,500 $5.80 31d 1 0.63mi
1654 Farmington Cir Wellington, FL 4.0 2.5 2539 $6,900 $2.72 99d 1 0.64mi
1741 Grantham Dr Wellington, FL 4.0 2.0 2469 $8,500 $3.44 49d 1 0.70mi
1741 Grantham Dr Wellington, FL 4.0 2.0 2469 $3,475 $1.41 103d 1 0.70mi
1773 Wiltshire Village Dr Wellington, FL 4.0 2.5 2709 $5,600 $2.07 88d 1 0.71mi
3192 Blue Cypress Ln Wellington, FL 5.0 6.5 4685 $35,000 $7.47 120d 1 0.76mi
12200 Sunnydale Dr Wellington, FL 4.0 4.5 3333 $25,000 $7.50 95d 1 0.77mi
13620 Folkestone Ct Wellington, FL 4.0 3.5 2699 $8,000 $2.96 6d 1 0.81mi
1619 Wiltshire Village Dr Wellington, FL 4.0 2.5 2723 $7,250 $2.66 0d 1 0.92mi
11839 Maidstone Dr Wellington, FL 5.0 4.5 4412 $20,000 $4.53 120d 1 1.01mi
2926 Dovedale Ct Wellington, FL 4.0 3.5 2711 $12,000 $4.43 6d 1 1.06mi
13710 Callington Dr Wellington, FL 4.0 3.0 2855 $5,000 $1.75 120d 1 1.11mi
2585 Sheltingham Dr Wellington, FL 4.0 5.5 3163 $9,000 $2.85 120d 1 1.11mi
13805 Folkestone Cir Wellington, FL 4.0 3.0 2951 $3,700 $1.25 109d 1 1.12mi
13646 Callington Dr Wellington, FL 5.0 4.0 3100 $25,000 $8.06 4d 1 1.13mi
13646 Callington Dr Wellington, FL 5.0 4.0 3100 $13,000 $4.19 120d 1 1.13mi
13805 Sheffield St Wellington, FL 4.0 2.5 2462 $4,300 $1.75 114d 1 1.15mi
13805 Sheffield St Wellington, FL 4.0 2.5 2462 $4,300 $1.75 60d 1 1.15mi
13847 Geranium Pl Wellington, FL 5.0 3.0 2961 $5,800 $1.96 120d 1 1.19mi
2443 Windsor Way Ct Wellington, FL 4.0 4.5 3167 $9,000 $2.84 47d 1 1.19mi
1212 Mulberry Pl Wellington, FL 4.0 2.5 2500 $3,300 $1.32 70d 1 1.22mi
1212 Mulberry Pl Wellington, FL 4.0 2.5 2500 $4,200 $1.68 106d 1 1.22mi
1342 Essex Dr Wellington, FL 4.0 2.0 2652 $8,000 $3.02 120d 1 1.23mi
2530 Windsor Way Ct Unit N/A Wellington, FL 4.0 5.5 3163 $13,000 $4.11 6d 1 1.23mi
2530 Windsor Way Ct Wellington, FL 4.0 5.5 3163 $9,500 $3.00 120d 1 1.23mi
2530 Windsor Way Ct Unit N/A Wellington, FL 4.0 5.5 3163 $15,000 $4.74 111d 1 1.23mi
2371 Windsor Way Ct Wellington, FL 4.0 4.5 3167 $21,000 $6.63 60d 1 1.25mi

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 33414Living 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)

Listing history 50 events

  1. 2026-09-23
    days on market $1,019,995 Active 138 DOM
  2. 2026-09-22
    days on market $1,019,995 Active 137 DOM
  3. 2026-09-21
    days on market $1,019,995 Active 136 DOM
  4. 2026-09-20
    days on market $1,019,995 Active 135 DOM
  5. 2026-09-18
    days on market $1,019,995 Active 133 DOM
  6. 2026-09-17
    pricedays on market $1,019,995 Active 132 DOM
  7. 2026-09-16
    days on market $1,029,995 Active 131 DOM
  8. 2026-09-15
    days on market $1,029,995 Active 130 DOM
  9. 2026-09-13
    days on market $1,029,995 Active 128 DOM
  10. 2026-09-12
    days on market $1,029,995 Active 127 DOM
  11. 2026-09-11
    days on market $1,029,995 Active 126 DOM
  12. 2026-09-05
    days on market $1,029,995 Active 120 DOM
  13. 2026-09-04
    pricedays on market $1,029,995 Active 119 DOM
  14. 2026-09-03
    days on market $1,039,995 Active 118 DOM
  15. 2026-08-31
    days on market $1,039,995 Active 115 DOM
  16. 2026-08-29
    days on market $1,039,995 Active 113 DOM
  17. 2026-08-28
    pricedays on market $1,039,995 Active 112 DOM
  18. 2026-08-25
    days on market $1,051,065 Active 109 DOM
  19. 2026-08-24
    days on market $1,051,065 Active 108 DOM
  20. 2026-08-23
    days on market $1,051,065 Active 107 DOM
  21. 2026-08-22
    days on market $1,051,065 Active 106 DOM
  22. 2026-08-21
    days on market $1,051,065 Active 105 DOM
  23. 2026-08-20
    days on market $1,051,065 Active 104 DOM
  24. 2026-08-19
    days on market $1,051,065 Active 103 DOM
  25. 2026-08-18
    days on market $1,051,065 Active 102 DOM
  26. 2026-08-16
    days on market $1,051,065 Active 100 DOM
  27. 2026-08-14
    days on market $1,051,065 Active 98 DOM
  28. 2026-08-13
    days on market $1,051,065 Active 97 DOM
  29. 2026-08-12
    days on market $1,051,065 Active 96 DOM
  30. 2026-08-11
    days on market $1,051,065 Active 95 DOM
  31. 2026-08-10
    days on market $1,051,065 Active 94 DOM
  32. 2026-08-09
    days on market $1,051,065 Active 93 DOM
  33. 2026-08-08
    pricedays on market $1,051,065 Active 92 DOM
  34. 2026-08-07
    price $1,026,065 Active 90 DOM
  35. 2026-08-06
    days on market $1,066,065 Active 90 DOM
  36. 2026-08-05
    days on market $1,066,065 Active 89 DOM
  37. 2026-08-03
    days on market $1,066,065 Active 87 DOM
  38. 2026-07-31
    days on market $1,066,065 Active 84 DOM
  39. 2026-07-24
    days on market $1,066,065 Active 77 DOM
  40. 2026-07-23
    days on market $1,066,065 Active 76 DOM
  41. 2026-07-22
    days on market $1,066,065 Active 75 DOM
  42. 2026-07-21
    days on market $1,066,065 Active 74 DOM
  43. 2026-07-18
    days on market $1,066,065 Active 71 DOM
  44. 2026-07-16
    days on market $1,066,065 Active 69 DOM
  45. 2026-07-15
    days on market $1,066,065 Active 68 DOM
  46. 2026-07-14
    days on market $1,066,065 Active 67 DOM
  47. 2026-07-13
    days on market $1,066,065 Active 66 DOM
  48. 2026-07-13
    days on market $1,066,065 Active 65 DOM
  49. 2026-07-12
    days on market $1,066,065 Active 64 DOM
  50. 2026-07-10
    days on market $1,066,065 Active 63 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 3/10 Moderate
  • 🌡 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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$106,410
− Mortgage interest
−$57,136
− Property taxes
−$15,300
− Insurance
−$5,100
− Repairs & maintenance
−$8,513
− Management
−$8,513
− Depreciation
−$29,673
Taxable loss
−$17,824
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$4,278
After-tax cash flow
$3,754/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.
C Composite school gradezoned avg 62/100

Zoned Schools

Elementary New Horizons Elementary School B- FL #690/2,144 Nat'l #7,252/41,679 Middle Polo Park Middle School A- FL #84/571 Nat'l #1,110/14,009 High Wellington High School C+ FL #102/667 Nat'l #3,443/17,239

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
B Composite livability gradescore 73/100

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 · 1,637,487 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
15% of renters

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

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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