555 Purdy Ln Unit A122 · Palm Springs, FL 33461

$99,000

1 bd · 1.0 ba · 650 sqft · Condo public records · 180 Days on market

Built 1972 $369/mo HOA · 22% 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 +25.3/30.0
• 1% rule +10.0/10.0
• DSCR +8.3/10.0
• 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 MLS

UPDATED 1 BEDROOM, 1 BATH CONDO. LIVING AREA BEAUTIFULLY TILED, CUSTOM MIRRORED WALL IN LIVING ROOM, BEDROOM IS CARPETED, KITCHEN HAS BEEN TOTALLY REDONE WITH NEW CABINETS, 1 YR OLD A/C, TWO WALK IN CLOSETS, CLOSE TO AIRPORT, SHOPPING, EASY TO SHOW.

Key facts

• Close to schools
• $369 HOA
• Garage

Tags

• CERAMIC TILE FLOORING
• CLOSE TO SUPERMARKETS
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING CENTERS
• 10 MINUTES TO THE AIRPORT
• 20 MINUTES TO THE BEACH

Property features AI

Finance

• Other: Living area reported as 650 (building area total 704 per public records)
• HOA & community: Monthly association fee: $369; HOA includes cable TV, insurance, trash, and elevator; Community amenities: billiard room, clubhouse, elevator(s), fitness center, game room, laundry, parking, pool, sauna, shuffleboard court, storage, trash chute, community room, library, street lights; Pets allowed; Senior community

Exterior

• Parking: Assigned parking; Garage (1 space); 1 covered space; 1 open parking space
• Security: Closed-circuit cameras
• Utilities: Three-phase electric; Public sewer; Cable available; Water available; Sewer available
• Home design: Condominium; Resale condition; Faces north; 3 stories total; Accessible elevator installed
• Construction: Concrete block (CBS) construction
• Exterior features: Shed(s); Not waterfront

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Individual central heating; Central air; Ceiling fans
• Interior features: Walk-in closets; Custom mirrors; Unfurnished
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $87k (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; 25 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 32% 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 $684 of loan paydown is wiped out by about $3k 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 180 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $26k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $99k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 180 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 1972 — 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 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. 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: 1.68% ✓
• Cap rate: 9.01%
• Cash-on-cash: 9.69%
• DSCR: 1.43
• GRM: 4.9

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: -6.5%
• Equity multiple: 0.77×
• Total profit: $-6,400
• Equity at exit: $14,761

10-year hold

• IRR: -3.3%
• Equity multiple: 0.82×
• Total profit: $-4,980
• Equity at exit: $8,560

Cash invested: $27,720 (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: 4.9×

Monthly cashflow live

• Estimated rent: $1,667 high
• Mortgage (P&I): −$519
• Tax from tax record: −$164 /mo · $1,967/yr
• Insurance: −$41
• HOA: −$369
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $224

Break-even live

Break-even rent $1,384

Max offer price $99,000

Occupancy floor 82%

Sensitivity live

Price	-10% $280	-5% $252	+0% $224	+5% $196	+10% $168
Rent	-10% $92	-5% $158	+0% $224	+5% $290	+10% $355
Rate	-1.0pp $274	-0.5pp $249	base $224	+0.5pp $198	+1.0pp $172

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Village Green Cir W Palm Springs, FL	1.0–2.0	1.0–1.5	739	$1,400	$1.89	24d	2	0.07mi
555 Purdy Ln Palm Springs, FL	1.0	1.0	650	$1,375	$2.12	5d	1	0.07mi
555 Kirk Rd Palm Springs, FL	1.0	1.0	625	$2,268	$3.63	8d	1	0.10mi
555 Kirk Rd Palm Springs, FL	1.0	1.0	670	$2,352	$3.51	14d	1	0.10mi
600 Village Green Ct #203 Palm Springs, FL	1.0	1.0	650	$1,300	$2.00	4d	1	0.14mi
4403 Anna Ln Unit B Palm Springs, FL	1.0	1.0	740	$1,600	$2.16	8d	1	0.31mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,375	$2.50	22d	1	0.35mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,450	$2.64	24d	1	0.35mi
300 Bonnie Blvd #144 Palm Springs, FL	1.0	1.0	702	$1,350	$1.92	24d	1	0.62mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	22d	1	0.67mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,550	$1.82	24d	2	0.68mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,650	$2.00	24d	3	0.70mi
2550 Lakehaven Rd West Palm Beach, FL	1.0	1.0	400	$1,500	$3.75	24d	1	0.77mi
2966 Ashley Dr E Unit C West Palm Beach, FL	1.0	1.0	611	$1,375	$2.25	24d	1	1.04mi
3263 Kirk Rd #2 Lake Worth, FL	1.0	1.0	619	$1,650	$2.67	8d	1	1.05mi
3263 Kirk Rd #2 Lake Worth, FL	1.0	1.0	619	$1,650	$2.67	24d	1	1.05mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,055	$2.13	2d	14	1.07mi
2951 Ashley Dr W West Palm Beach, FL	1.0	1.5	662	$1,525	$2.30	21d	1	1.14mi
2951 Ashley Dr W Unit D West Palm Beach, FL	1.0	1.5	662	$1,450	$2.19	17d	1	1.14mi
3874 7th Ave N Unit 3878 Lake Worth Beach, FL	1.0	1.0	528	$1,600	$3.03	24d	1	1.28mi
2854 Crosley Dr E Unit J West Palm Beach, FL	1.0	1.0	612	$1,300	$2.12	24d	1	1.28mi
2805 Crosley Dr E Unit E West Palm Beach, FL	1.0	1.5	662	$1,250	$1.89	24d	1	1.29mi
2723 Dudley Dr W Unit G West Palm Beach, FL	1.0	1.0	611	$1,300	$2.13	24d	1	1.36mi
2607 Dudley Dr W Unit L West Palm Beach, FL	1.0	1.0	611	$1,300	$2.13	8d	1	1.41mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,722	$2.51	1d	5	1.44mi

HOA detail condo

• Monthly dues: $369 · $4,428/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $99,000 Active 180 DOM
2. 2026-06-17
   days on market $99,000 Active 179 DOM
3. 2026-06-16
   days on market $99,000 Active 178 DOM
4. 2026-06-15
   days on market $99,000 Active 177 DOM
5. 2026-06-13
   days on market $99,000 Active 175 DOM
6. 2026-06-09
   pricedays on market $99,000 Active 171 DOM
7. 2026-06-07
   days on market $105,000 Active 169 DOM
8. 2026-06-04
   days on market $105,000 Active 166 DOM
9. 2026-06-03
   days on market $105,000 Active 165 DOM
10. 2026-06-01
    days on market $105,000 Active 163 DOM
11. 2026-05-31
    days on market $105,000 Active 162 DOM
12. 2026-04-23
    price $105,000
13. 2026-02-12
    price $115,000
14. 2025-12-20
    listed $125,000 Active
15. 2021-04-20
    soldstatus $65,000
16. 2021-04-10
    soldstatus $65,000 Closed
17. 2021-02-27
    status Pending
18. 2021-02-22
    listed $70,000 Active
19. 2006-12-01
    soldstatus $88,900
20. 2006-11-14
    soldstatus $88,900 249-char remark

    Show marketing remark (249 chars)

    UPDATED 1 BEDROOM, 1 BATH CONDO. LIVING AREA BEAUTIFULLY TILED, CUSTOM MIRRORED WALL IN LIVING ROOM, BEDROOM IS CARPETED, KITCHEN HAS BEEN TOTALLY REDONE WITH NEW CABINETS, 1 YR OLD A/C, TWO WALK IN CLOSETS, CLOSE TO AIRPORT, SHOPPING, EASY TO SHOW.

21. 2006-11-01
    historical 249-char remark

    Show marketing remark (249 chars)

    UPDATED 1 BEDROOM, 1 BATH CONDO. LIVING AREA BEAUTIFULLY TILED, CUSTOM MIRRORED WALL IN LIVING ROOM, BEDROOM IS CARPETED, KITCHEN HAS BEEN TOTALLY REDONE WITH NEW CABINETS, 1 YR OLD A/C, TWO WALK IN CLOSETS, CLOSE TO AIRPORT, SHOPPING, EASY TO SHOW.

22. 2006-09-05
    listed $84,900 249-char remark

    Show marketing remark (249 chars)

    UPDATED 1 BEDROOM, 1 BATH CONDO. LIVING AREA BEAUTIFULLY TILED, CUSTOM MIRRORED WALL IN LIVING ROOM, BEDROOM IS CARPETED, KITCHEN HAS BEEN TOTALLY REDONE WITH NEW CABINETS, 1 YR OLD A/C, TWO WALK IN CLOSETS, CLOSE TO AIRPORT, SHOPPING, EASY TO SHOW.

ⓘ 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: $1,967 · $164/mo
• Projected year-2 tax: $1,967 · $164/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 💨 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: $20,006
• − Mortgage interest: −$5,546
• − Property taxes: −$1,967
• − Insurance: −$495
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − HOA: −$4,428
• − Depreciation: −$2,880
• Taxable income: $1,490
• Est. tax owed @ 24.0%: −$358
• After-tax cash flow: $2,328/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
• 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

+23.7% since first listed

11 events — show timeline

• 2026-04-23 Price Changed $105,000 Beaches MLS
• 2026-02-12 Price Changed $115,000 Beaches MLS
• 2025-12-20 Listed $125,000 Beaches MLS
• 2021-04-20 Sold (Public Records) $65,000 Public Records
• 2021-04-10 Sold (MLS) $65,000 Beaches MLS
• 2021-02-27 Pending — Beaches MLS
• 2021-02-22 Listed $70,000 Beaches MLS
• 2006-12-01 Sold (Public Records) $88,900 Public Records
• 2006-11-14 Sold (MLS) $88,900 Beaches MLS
• 2006-11-01 Listing Removed — Beaches MLS
• 2006-09-05 Listed $84,900 Beaches MLS

Property tax history

+8.8%/yr

Latest (2025): $1,967 · +7.1% YoY. Source: county tax records.