12013 Greenway Cir S #110 · Royal Palm Beach, FL 33411

$113,000

1 bd · 1.0 ba · 600 sqft · Condo public records · 127 Days on market

Built 1973 $533/mo HOA · 32% 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 +13.5/30.0
• Appreciation +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

1BR VILLA (END UNIT) IN LOVELY COMMUNITY OF GREENWAY VILLAGE SOUTH. THIS VILLA HAS BRAND NEW CUSTOM MADE KITCHEN CABINETS, TILE THROUGH OUT, WALK-IN-CLOSET & FINISHED TILED PATIO. BEING SOLD FURNISHED WITH THE EXCEPTION OF CERTAIN ITEMS. SIZES APPROX

Key facts

• $533 HOA
• Built 1973
• Listed 126 days

Property features AI

Finance

• Other: Pets allowed (cats only; pet restrictions possible)
• HOA & community: Community is a senior community; Monthly HOA dues; HOA amenities include billiard room, clubhouse, fitness center, storage, courtesy bus, and library; HOA covers cable TV, insurance, grounds maintenance, sewer, water and common areas

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; 2 stories; Resale property; Faces west
• Construction: CBS construction; Mansard roof
• Exterior features: Screened porch; Porch; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Dome kitchen; Unfurnished

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $113k.

Deal economics

• At list price, monthly cash flow is $4 ($54/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $113k).
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.

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; 4 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).

Forward outlook

• In year one you build about $12k of equity ($781 loan paydown + $11k 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.
• At projected returns (10.0% appreciation + 0.8% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y ago; this cycle's ask has dropped $17k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $34k; list at $113k implies a 232% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 32% 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 $99,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 1.45% ✓
• Cap rate: 6.34%
• Cash-on-cash: 0.17%
• DSCR: 1.01
• GRM: 5.7

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: 23.3%
• Equity multiple: 2.85×
• Total profit: $58,691
• Equity at exit: $101,799

10-year hold

• IRR: 20.0%
• Equity multiple: 6.27×
• Total profit: $166,836
• Equity at exit: $219,534

Cash invested: $31,640 (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: 5.7×

Monthly cashflow live

• Estimated rent: $1,641 medium
• Mortgage (P&I): −$593
• Tax from tax record: −$119 /mo · $1,429/yr
• Insurance: −$47
• HOA: −$533
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $4

Break-even live

Break-even rent $1,635

Max offer price $113,000

Occupancy floor 95%

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: $28,250
• Closing costs: $3,390
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12009 Poinciana Blvd #102 Royal Palm Beach, FL	1.0	1.0	660	$1,500	$2.27	24d	1	0.08mi
12021 W Greenway Dr #101 Royal Palm Beach, FL	1.0	1.5	660	$1,400	$2.12	24d	1	0.16mi
149 West Ct Royal Palm Beach, FL	1.0	1.0	648	$1,800	$2.78	11d	1	0.17mi
11020 Town Cir Wellington, FL	1.0–3.0	1.0–2.0	1013	$2,146	$2.12	1d	14	1.29mi

HOA detail condo

• Monthly dues: $533 · $6,396/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $113,000 Active 127 DOM
2. 2026-06-17
   days on market $113,000 Active 126 DOM
3. 2026-06-16
   days on market $113,000 Active 125 DOM
4. 2026-06-15
   days on market $113,000 Active 124 DOM
5. 2026-06-13
   days on market $113,000 Active 122 DOM
6. 2026-06-09
   days on market $113,000 Active 118 DOM
7. 2026-06-07
   days on market $113,000 Active 116 DOM
8. 2026-06-04
   days on market $113,000 Active 113 DOM
9. 2026-06-03
   days on market $113,000 Active 112 DOM
10. 2026-06-01
    days on market $113,000 Active 110 DOM
11. 2026-05-31
    days on market $113,000 Active 109 DOM
12. 2026-03-30
    price $113,000
13. 2026-02-10
    listed $130,000 Active
14. 2013-09-21
    historical 256-char remark

    Show marketing remark (256 chars)

    1BR VILLA (END UNIT) IN LOVELY COMMUNITY OF GREENWAY VILLAGE SOUTH. THIS VILLA HAS BRAND NEW CUSTOM MADE KITCHEN CABINETS, TILE THROUGH OUT, WALK-IN-CLOSET & FINISHED TILED PATIO. BEING SOLD FURNISHED WITH THE EXCEPTION OF CERTAIN ITEMS. SIZES APPROX

15. 2007-01-24
    listed $115,000 256-char remark

    Show marketing remark (256 chars)

    1BR VILLA (END UNIT) IN LOVELY COMMUNITY OF GREENWAY VILLAGE SOUTH. THIS VILLA HAS BRAND NEW CUSTOM MADE KITCHEN CABINETS, TILE THROUGH OUT, WALK-IN-CLOSET & FINISHED TILED PATIO. BEING SOLD FURNISHED WITH THE EXCEPTION OF CERTAIN ITEMS. SIZES APPROX

16. 1999-04-07
    soldstatus $34,000
17. 1999-03-02
    soldstatus $34,000 162-char remark

    Show marketing remark (162 chars)

    FULLY FURN. GROUND LEVEL VILLA. ACROSS FROM GOLF COURSE & POOLS. CLOSE TO BOTH CLUBHOUSES. NEW T. V. MICRO WAVE, TOASTER OVEN. WALK TO SHOPPING & BUS.

18. 1999-02-21
    historical 162-char remark

    Show marketing remark (162 chars)

    FULLY FURN. GROUND LEVEL VILLA. ACROSS FROM GOLF COURSE & POOLS. CLOSE TO BOTH CLUBHOUSES. NEW T. V. MICRO WAVE, TOASTER OVEN. WALK TO SHOPPING & BUS.

19. 1998-12-08
    listed $34,500 162-char remark

    Show marketing remark (162 chars)

    FULLY FURN. GROUND LEVEL VILLA. ACROSS FROM GOLF COURSE & POOLS. CLOSE TO BOTH CLUBHOUSES. NEW T. V. MICRO WAVE, TOASTER OVEN. WALK TO SHOPPING & BUS.

20. 1979-01-01
    soldstatus $31,500

ⓘ 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: $1,429 · $119/mo
• Projected year-2 tax: $1,429 · $119/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 9/10 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: $19,689
• − Mortgage interest: −$6,330
• − Property taxes: −$1,429
• − Insurance: −$565
• − Repairs & maintenance: −$1,575
• − Management: −$1,575
• − HOA: −$6,396
• − Depreciation: −$3,287
• Taxable loss: −$1,468
• Est. tax savings @ 24.0%: +$352
• After-tax cash flow: $406/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: 222,012
• 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

+258.7% since first listed

9 events — show timeline

• 2026-03-30 Price Changed $113,000 Beaches MLS
• 2026-02-10 Listed $130,000 Beaches MLS
• 2013-09-21 Listing Removed — Beaches MLS
• 2007-01-24 Listed $115,000 Beaches MLS
• 1999-04-07 Sold (Public Records) $34,000 Public Records
• 1999-03-02 Sold (MLS) $34,000 Beaches MLS
• 1999-02-21 Listing Removed — Beaches MLS
• 1998-12-08 Listed $34,500 Beaches MLS
• 1979-01-01 Sold (Public Records) $31,500 Public Records

Property tax history

+8.2%/yr

Latest (2025): $1,429 · +1.5% YoY. Source: county tax records.