2770 S Garden Dr #304 · Palm Springs, FL 33461

$52,999

2 bd · 1.0 ba · 894 sqft · Condo public records · 153 Days on market

Built 1970 $697/mo HOA · 36% of rent

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

Listing remarks

BUYER MUST HAVE $50,000 in assets with minimum credit score of 700 per association. STOP! You just found a 2 BR 1 BA condo in Palm Beach County for under $100K. This is an excellent opportunity to afford your piece of paradise in the sunshine state. This is an active 55+ community with all of the features you'd expect in an active adult community including swimming pools, sauna, billiards, exercise facilities, free public transportation to a list of shopping, dining and entertainment destinations. Located conveniently near PBIA, Beaches, Shoppes and Dining. Monthly condo fee includes building insurance, exterior building maintenance, pool services, water, cable and internet. This is the per

Key facts

• Billiards
• Swimming pools
• Sauna

Tags

• SWIMMING POOLS
• SAUNA
• BILLIARDS
• EXERCISE FACILITIES
• FREE PUBLIC TRANSPORTATION
• CONVENIENTLY NEAR PBIA

Property features AI

Finance

• Other: Senior community
• Financial info: Financial specifics (tax amounts, assessed values, investor cash flow) omitted
• HOA & community: Monthly association fee; Association amenities include: basketball court, billiard room, clubhouse, fitness center, pool, sauna, storage, bike storage, business center, community room, courtesy bus; Association fee covers cable TV, insurance, grounds maintenance, water, common areas, and common real estate tax; Pets allowed with possible restrictions (number/size limits)

Exterior

• Parking: Parking details not provided
• Security: No security features listed
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Resale property; Three-story building; Faces south
• Construction: Constructed with CBS (concrete block); Built prior to listing year
• Exterior features: Porch

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Refrigerator
• Bedrooms: Two bedrooms on the main level
• Flooring: Carpet
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Electric heating; Electric cooling
• Interior features: No special interior features listed
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $53k.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $53k).
• Recommended offer: $47k (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+, 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: Meadow Park Elementary School (math 64% / reading 73%, grade B+, #409 of 2,144 statewide, top 20%, 809 students, 65% FRL); Forest Hill Community High School (math 20% / reading 41%, grade F, #434 of 667 statewide, top 66%, 2,407 students, 66% FRL).
• Market conditions: Rents soft (-2.5%/yr); 276 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).
• This rent runs 37% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $366 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y ago; this cycle's ask has dropped $36k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; HOA is 36% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $46,639 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 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 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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: 3.61% ✓
• Cap rate: 15.18%
• Cash-on-cash: 31.73%
• DSCR: 2.41
• GRM: 2.3

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: 20.2%
• Equity multiple: 1.76×
• Total profit: $11,291
• Equity at exit: $7,902

10-year hold

• IRR: 23.9%
• Equity multiple: 2.51×
• Total profit: $22,359
• Equity at exit: $4,582

Cash invested: $14,840 (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: 276
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,911 high
• Mortgage (P&I): −$278
• Tax from tax record: −$120 /mo · $1,442/yr
• Insurance: −$22
• HOA: −$697
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $392

Break-even live

Break-even rent $1,414

Max offer price $52,999

Occupancy floor 74%

Sensitivity live

Price	-10% $422	-5% $407	+0% $392	+5% $377	+10% $362
Rent	-10% $241	-5% $317	+0% $392	+5% $468	+10% $543
Rate	-1.0pp $419	-0.5pp $406	base $392	+0.5pp $379	+1.0pp $365

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: $13,250
• Closing costs: $1,590
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2724 Garden Dr S #207 Lake Worth, FL	1.0	1.0	744	$1,850	$2.49	0d	1	0.06mi
2856 Garden Dr S #112 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	25d	1	0.07mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	5d	1	0.15mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	2d	1	0.15mi
2721 Garden Dr N #105 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	21d	1	0.17mi
2566 Garden Dr S Lake Worth Beach, FL	1.0	1.0	744	$1,395	$1.88	25d	1	0.22mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	16d	1	0.27mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	8d	1	0.27mi
2791 S Florida Mango Rd Lake Worth, FL	2.0	2.0	1100	$1,995	$1.81	21d	1	0.29mi
100 Rex Ave Palm Springs, FL	2.0	2.0	1000	$1,850	$1.85	25d	3	0.33mi
2901 10th Ave N Palm Springs, FL	2.0	1.0	900	$1,795	$1.99	25d	1	0.34mi
910 Rudolf Rd Lake Worth, FL	3.0	1.0	1000	$2,500	$2.50	25d	1	0.38mi
220 Henthorne Dr Palm Springs, FL	1.0–2.0	1.5–2.0	900	$1,850	$2.06	25d	4	0.42mi
2508 10th Ave N Lake Worth Beach, FL	3.0	2.0	1025	$2,557	$2.49	25d	1	0.44mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,746	$2.18	15d	1	0.44mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,672	$2.09	12d	1	0.44mi
3386 Rudolph Rd Lake Worth Beach, FL	2.0	1.0	840	$2,100	$2.50	4d	1	0.46mi
124 Abaco Dr Palm Springs, FL	3.0	2.0	988	$2,900	$2.94	16d	1	0.49mi
3440 Rudolph Rd Unit 3440-03 Lake Worth Beach, FL	2.0	2.0	935	$2,100	$2.25	19d	1	0.54mi
3431 Helena Dr Unit 3481-11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	25d	1	0.56mi
3431 Helena Dr Lake Worth, FL	2.0	2.0	935	$2,075	$2.22	15d	2	0.56mi
3481 Helena Dr Unit 11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	25d	1	0.57mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,995	$2.90	2d	5	0.59mi
1065 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,100	$1.91	4d	1	0.59mi
3031 French Ave Lake Worth, FL	3.0	1.0	840	$2,400	$2.86	8d	1	0.62mi
1020 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,200	$2.00	23d	1	0.64mi
1016 Manor Dr Unit 5c Palm Springs, FL	2.0	2.0	1098	$2,256	$2.05	25d	1	0.66mi
3017 Buckley Ave Lake Worth, FL	2.0	1.0	720	$2,200	$3.06	25d	1	0.66mi
3300 Boutwell Rd Lake Worth Beach, FL	1.0–2.0	1.0–2.0	765	$2,720	$3.56	25d	1	0.70mi
1802 Waterview Cir #1802 Palm Springs, FL	2.0	2.0	951	$1,925	$2.02	25d	1	0.80mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,750	$2.06	25d	2	0.90mi
247 Cypress Ln Unit 246-C12 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	6d	1	0.91mi
247 Cypress Ln Unit 246-C06 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	25d	1	0.91mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,850	$2.24	25d	3	0.92mi
225 Bonnie Blvd Palm Springs, FL	1.0–2.0	1.5–2.0	944	$1,850	$1.96	25d	2	0.93mi
225 Bonnie Blvd #116 Palm Springs, FL	2.0	2.0	988	$1,850	$1.87	19d	1	0.93mi
1742 W Terrace Dr Lake Worth Beach, FL	2.0	1.5	1000	$2,700	$2.70	25d	1	0.95mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,558	$2.65	3d	14	0.95mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	23d	1	0.96mi
500 Bonnie Blvd #165 Palm Springs, FL	1.0	1.5	782	$1,350	$1.73	25d	1	0.98mi

HOA detail condo

• Monthly dues: $697 · $8,364/yr
• Likely covers: waterinternetcableinsurancepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-21
   days on market $52,999 Active 153 DOM
2. 2026-06-18
   days on market $52,999 Active 150 DOM
3. 2026-06-17
   price $52,999 Active 149 DOM
4. 2026-06-17
   days on market $58,888 Active 149 DOM
5. 2026-06-16
   days on market $58,888 Active 148 DOM
6. 2026-06-15
   days on market $58,888 Active 147 DOM
7. 2026-06-13
   days on market $58,888 Active 145 DOM
8. 2026-06-09
   days on market $58,888 Active 141 DOM
9. 2026-06-07
   days on market $58,888 Active 139 DOM
10. 2026-06-04
    days on market $58,888 Active 136 DOM
11. 2026-06-03
    days on market $58,888 Active 135 DOM
12. 2026-06-01
    days on market $58,888 Active 133 DOM
13. 2026-05-31
    days on market $58,888 Active 132 DOM
14. 2026-05-13
    status Active
15. 2026-04-18
    historical Active Under Contract
16. 2026-03-23
    status Active
17. 2026-03-08
    historical Active Under Contract
18. 2026-02-24
    price $58,888
19. 2026-02-09
    price $68,888
20. 2026-01-20
    historical $1,495
21. 2026-01-19
    listed $88,888 Active
22. 2025-08-30
    price $1,495
23. 2025-08-03
    listed $1,675
24. 2016-05-01
    historical
25. 2013-09-21
    historical
26. 2012-05-08
    soldstatus $45,000
27. 2012-04-27
    soldstatus $45,000
28. 2012-03-19
    historical
29. 2011-12-01
    listed $47,000
30. 2009-12-31
    historical
31. 2009-05-13
    listed $58,000
32. 2007-07-24
    listed $87,000
33. 2006-05-24
    listed $109,000
34. 2005-08-12
    soldstatus $48,000

ⓘ 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: $1,442 · $120/mo
• Projected year-2 tax: $1,442 · $120/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 ≥105°F today · 27 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: $22,930
• − Mortgage interest: −$2,969
• − Property taxes: −$1,442
• − Insurance: −$265
• − Repairs & maintenance: −$1,834
• − Management: −$1,834
• − HOA: −$8,364
• − Depreciation: −$1,542
• Taxable income: $4,679
• Est. tax owed @ 24.0%: −$1,123
• After-tax cash flow: $3,585/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

• 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

+22.7% since first listed

21 events — show timeline

• 2026-05-13 Relisted — Beaches MLS
• 2026-04-18 Contingent — Beaches MLS
• 2026-03-23 Relisted — Beaches MLS
• 2026-03-08 Contingent — Beaches MLS
• 2026-02-24 Price Changed $58,888 Beaches MLS
• 2026-02-09 Price Changed $68,888 Beaches MLS
• 2026-01-20 Rental Removed $1,495 RMLSFL
• 2026-01-19 Listed $88,888 Beaches MLS
• 2025-08-30 Price Changed $1,495 RMLSFL
• 2025-08-03 Listed for Rent $1,675 RMLSFL
• 2016-05-01 Listing Removed — Beaches MLS
• 2013-09-21 Listing Removed — Beaches MLS
• 2012-05-08 Sold (Public Records) $45,000 Public Records
• 2012-04-27 Sold (MLS) $45,000 Beaches MLS
• 2012-03-19 Listing Removed — Beaches MLS
• 2011-12-01 Listed $47,000 Beaches MLS
• 2009-12-31 Listing Removed — Beaches MLS
• 2009-05-13 Listed $58,000 Beaches MLS
• 2007-07-24 Listed $87,000 Beaches MLS
• 2006-05-24 Listed $109,000 Beaches MLS
• 2005-08-12 Sold (Public Records) $48,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $1,442 · -8.7% YoY. Source: county tax records.