6698 10th AVE · Palm Springs, FL 33461

$230,000

3 bd · 2.0 ba · 1,505 sqft · Condo · 211 Days on market

Built 1986

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Why this score? — see what drove the F 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 +7.5/15.0
• 1% rule +6.0/10.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully Renovated 55+ Apartment in Lake Worth, FL Enjoy resort-style living in this newly renovated 3-bedroom, 2-bath home featuring stunning golf course views. Located in a vibrant 55+ community, residents enjoy top-notch amenities including a sparkling pool and assigned parking. Just minutes from shopping, dining, and the beautiful local beaches this is South Florida living at its best!

Key facts

• Top-notch amenities
• Renovated apartment
• Assigned parking

Tags

• RENOVATED APARTMENT
• GOLF COURSE VIEWS
• ASSIGNED PARKING
• TOP-NOTCH AMENITIES
• MINUTES FROM SHOPPING
• MINUTES FROM DINING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#297 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D+, schools D-, amenities 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.
• Market conditions: Rents soft (-2.5%/yr); 274 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).
• At $2,523/mo this rent would consume 49% of the median local household income ($62k/yr) (locally 2663% 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 $2k of loan paydown is wiped out by about $7k 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 211 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 58% 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 $202,400 (12.0% 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 211 days. Have you received any prior offers? Is the seller open to a 12% 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. 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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.
10. 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.
11. 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: 1.10% ✓
• Cap rate: 0.78%
• Cash-on-cash: -19.70%
• DSCR: 0.12
• GRM: 7.6

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: -66.0%
• Equity multiple: -0.72×
• Total profit: $-111,068
• Equity at exit: $34,294

10-year hold

• IRR: —
• Equity multiple: -2.23×
• Total profit: $-208,200
• Equity at exit: $19,886

Cash invested: $64,400 (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 33461

• Rents YoY: -2.5%
• Active inventory: 274
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,523 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• HOA est. from 1 same-building comp: −$1,461
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $-1,057

Break-even live

Break-even rent $3,861

Max offer price $77,007

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Williams Ct Unit 120WL Palm Springs, FL	3.0	2.5	1700	$2,400	$1.41	17d	1	0.07mi
113 Hemingway Ct Palm Springs, FL	3.0	2.5	1498	$2,400	$1.60	20d	1	0.09mi
100 Hemingway Ct Palm Springs, FL	3.0	2.5	1498	$2,400	$1.60	5d	1	0.09mi
120 Williams Ct Palm Springs, FL	3.0	2.5	1498	$2,400	$1.60	17d	1	0.09mi
6003 Waterview Cir Palm Springs, FL	3.0	2.5	1500	$2,550	$1.70	24d	1	0.27mi
1020 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,200	$2.00	22d	1	0.35mi
1016 Manor Dr Unit 5c Palm Springs, FL	2.0	2.0	1098	$2,256	$2.05	24d	1	0.35mi
1065 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,100	$1.91	3d	1	0.39mi
3533 Joshua Tree St Lake Worth, FL	3.0	2.5	1485	$2,575	$1.73	24d	1	0.43mi
3537 Joshua Tree St Lake Worth, FL	3.0	2.5	1485	$2,550	$1.72	14d	1	0.43mi
4026 Hot Springs Ave Lake Worth, FL	3.0	2.5	1485	$2,585	$1.74	24d	1	0.44mi
4234 Emerald Vis Lake Worth, FL	3.0	2.5	1674	$2,695	$1.61	24d	1	0.49mi
4234 Emerald Vis Lake Worth, FL	3.0	2.5	1674	$2,650	$1.58	18d	1	0.49mi
3421 Helena Dr Lake Worth, FL	4.0	2.0	2100	$4,400	$2.10	11d	1	0.68mi
4171 Gulfstream Rd Lake Worth, FL	3.0	2.5	1194	$2,700	$2.26	24d	1	0.68mi
4393 Davis Rd Unit 2 Lake Worth Beach, FL	4.0	2.0	1222	$3,200	$2.62	22d	1	0.68mi
4217 Gulfstream Rd Lake Worth Beach, FL	3.0	2.5	1528	$2,850	$1.87	4d	1	0.73mi
4217 Gulfstream Rd Lake Worth Beach, FL	3.0	2.5	1528	$2,850	$1.87	3d	1	0.73mi
4495 Emerald Vis Lake Worth, FL	1.0–3.0	1.0–2.0	1164	$3,559	$3.06	1d	1	0.73mi
4495 Emerald Vis Lake Worth, FL	3.0	3.0	1610	$3,055	$1.90	20d	1	0.73mi
4495 Emerald Vis Lake Worth, FL	2.0	2.0	1079	$2,343	$2.17	4d	1	0.73mi
3733 Kirk Rd Lake Worth, FL	2.0	1.0	1170	$2,350	$2.01	22d	1	0.78mi
4094 Kirk Rd Lake Worth, FL	2.0	1.5	1575	$2,100	$1.33	24d	1	0.80mi
2425 2nd Ave N Lake Worth, FL	4.0	2.5	1252	$2,850	$2.28	24d	2	0.88mi
4063 Belle Rd Unit B Lake Worth Beach, FL	2.0	1.0	1200	$1,900	$1.58	15d	1	0.90mi
3201 Alice Dr Palm Springs, FL	3.0	2.0	1966	$3,650	$1.86	24d	1	0.98mi
4260 Lakewood Rd Unit 206 Lake Worth Beach, FL	3.0	2.0	1100	$2,350	$2.14	14d	1	1.03mi
4260 Lakewood Rd Unit 302 Lake Worth Beach, FL	2.0	2.0	1100	$2,200	$2.00	14d	1	1.03mi
4270 Lakewood Rd Unit 308 Lake Worth Beach, FL	3.0	2.0	1100	$2,350	$2.14	14d	1	1.05mi
4290 Lakewood Rd Unit 107 Lake Worth Beach, FL	2.0	2.0	1100	$2,200	$2.00	14d	1	1.05mi
4250 Lakewood Rd Unit 101 Lake Worth Beach, FL	2.0	2.0	1100	$2,150	$1.95	24d	1	1.05mi
3868 Patio Ct #5 Lake Worth, FL	3.0	2.5	1446	$2,850	$1.97	18d	1	1.09mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	1d	1	1.11mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	4d	1	1.11mi
2391 Waterside Dr Unit 22d Lake Worth, FL	2.0	3.0	1328	$2,600	$1.96	24d	1	1.13mi
3125 Shelby Way Palm Springs, FL	3.0	2.0	1408	$3,000	$2.13	20d	1	1.15mi
3194 Prince Dr Unit 3196 Lake Worth Beach, FL	3.0	2.0	1736	$2,800	$1.61	15d	1	1.15mi
2428 Waterside Dr Unit 2428 Lake Worth Beach, FL	2.0	2.5	1400	$2,250	$1.61	24d	1	1.18mi
4400 Boatman St Unit 4400 Lake Worth Corridor, FL	3.0	2.5	1680	$2,890	$1.72	24d	1	1.19mi
4400 Boatman St Lake Worth, FL	3.0	3.0	1944	$2,890	$1.49	22d	1	1.19mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: poolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-09
   days on market $230,000 Active 211 DOM
2. 2026-06-07
   days on market $230,000 Active 209 DOM
3. 2026-06-04
   days on market $230,000 Active 206 DOM
4. 2026-06-03
   days on market $230,000 Active 205 DOM
5. 2026-06-01
   days on market $230,000 Active 203 DOM
6. 2026-05-31
   days on market $230,000 Active 202 DOM
7. 2025-11-10
   listed $230,000 Active

ⓘ 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 1/10 Low
• 🌡 Heat 9/10 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 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,276
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,422
• − Management: −$2,422
• − HOA: −$17,532
• − Depreciation: −$6,691
• Taxable loss: −$16,275
• Est. tax savings @ 24.0%: +$3,906
• After-tax cash flow: $-8,782/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 — Palm Springs

• Score: 73/100
• State rank: #297
• US rank: #5045

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Springs, FL
• County: Palm Beach County · 1,438,312 people
• City population: 49,443
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 49,443
• Household income: $61,963
• Rent vs Own: 48.2% rent · 51.8% own
• Severe rent burden: 2663.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 59% Two or more races 26% White 20% Black 17% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 6% Cuban 16% Dominican 2%
• Common ancestry: Hispanic 9% Romanian 1% Lithuanian 1%
• Foreign-born: 52% · Canada, Jamaica
• Languages at home: 31% English-only · Spanish 54% 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: ▼ -269.03%
• Current HPI: 493.0041
• Rent YoY: ▼ -2.47%
• 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

1 event — show timeline

• 2025-11-10 Listed $230,000 ForSaleByOwner.com