409 Pine Glen Ln Unit A-1 · Greenacres, FL 33463

$139,995

2 bd · 2.0 ba · 922 sqft · Condo public records · 79 Days on market

Built 1981 $551/mo HOA · 28% 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 +16.7/30.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fully furnished nestled close to the pool and lakefront clubhouse with walking path. Friendly active 55+ community centrally located near restaurants, shopping and easy access between I95 and the Turnpike. Brand new central air with blue light, roof, building electrical panel and updated clubhouse. A perfect vacation home!

Key facts

• 55+ community
• Updated clubhouse
• Walking path

Tags

• POOL AND LAKEFRONT CLUBHOUSE
• WALKING PATH
• 55+ COMMUNITY
• NEW ROOF
• BUILDING ELECTRICAL PANEL
• UPDATED CLUBHOUSE

Property features AI

Finance

• Financial info: Not a land-lease property; Community contains approximately 400 units; Pets are not allowed
• HOA & community: Part of Pine Ridge South IV association; Quarterly HOA fee; HOA covers grounds maintenance, trash, common areas, legal/accounting, reserve funds, roof repairs, recreation facility, and pool service; Community amenities include pool, picnic area, community room with kitchen facilities, sidewalks, and recreation facilities; Manager on site

Exterior

• Parking: Assigned parking; Guest parking; Asphalt parking; 1 open parking space; Total parking spaces: 1; Carport not present
• Utilities: Public water; Public sewer; Electricity available; Cable available; Water connected
• Home design: Condominium; One-level living; Entry at level 1; Faces east
• Construction: Concrete block with stucco construction; Composition shingle roof; Slab foundation; Built as a 2-story building (unit on one level)
• Exterior features: Asphalt paved road frontage; Waterfront; Pool (community); Picnic area; Community room; Sidewalks; Recreation facilities; Management/manager on site; Parking provided; Maintenance provided

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central heating; Central individual cooling
• Interior features: Walk-in closets; Stacked bedroom layout; Furnished
• Laundry & utility: Laundry room; Laundry in carport; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#490 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: Heritage Elementary School (math 35% / reading 39%, grade F, #1,609 of 2,144 statewide, top 77%, 786 students, 75% FRL); L C Swain Middle School (math 26% / reading 33%, grade F, #469 of 571 statewide, top 84%, 1,451 students, 74% FRL); Santaluces Community High (math 22% / reading 39%, grade F, #434 of 667 statewide, top 66%, 2,675 students, 61% FRL) — zoned schools average 70% FRL vs 52% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 50% district-wide (-17 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.3%/yr); 346 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 ($74k/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 $968 of loan paydown is wiped out by about $4k 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 79 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,595 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.39% ✓
• Cap rate: 7.03%
• Cash-on-cash: 2.65%
• DSCR: 1.12
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.33% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.49×
• Total profit: $-20,078
• Equity at exit: $20,874

10-year hold

• IRR: -10.2%
• Equity multiple: 0.44×
• Total profit: $-21,855
• Equity at exit: $12,104

Cash invested: $39,199 (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 33463

• Home prices YoY: -30.9%
• Rents YoY: 1.3%
• Active inventory: 346
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,951 high
• Mortgage (P&I): −$734
• Tax from tax record: −$111 /mo · $1,333/yr
• Insurance: −$58
• HOA: −$551
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $86

Break-even live

Break-even rent $1,841

Max offer price $139,995

Occupancy floor 91%

Sensitivity live

Price	-10% $166	-5% $126	+0% $86	+5% $47	+10% $7
Rent	-10% $-68	-5% $9	+0% $86	+5% $163	+10% $240
Rate	-1.0pp $157	-0.5pp $122	base $86	+0.5pp $50	+1.0pp $13

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: $34,999
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
407 Pine Cir Unit C1 Greenacres, FL	2.0	2.0	922	$1,800	$1.95	25d	1	0.03mi
407 Pine Cir Unit B1 Greenacres, FL	2.0	2.0	922	$1,750	$1.90	25d	1	0.03mi
408 Pine Glen Ln Unit C-2 Greenacres, FL	2.0	1.0	804	$1,600	$1.99	25d	1	0.07mi
443 Pine Glen Ln Unit B2 Greenacres, FL	2.0	2.0	922	$1,500	$1.63	25d	1	0.11mi
446 Pine Glen Ln Unit A1 Greenacres, FL	1.0	1.0	614	$1,550	$2.52	15d	1	0.12mi
417 Pine Glen Ln Unit C2 Greenacres, FL	2.0	2.0	922	$1,800	$1.95	25d	1	0.13mi
417 Pine Glen Ln Unit D2 Greenacres, FL	2.0	2.0	922	$1,550	$1.68	25d	1	0.13mi
429 Pine Glen Ln Unit C2 Greenacres, FL	2.0	1.0	804	$1,650	$2.05	25d	1	0.14mi
4535 Oak Terrace Dr Greenacres, FL	3.0	2.0	1061	$2,400	$2.26	13d	1	0.14mi
4535 Oak Terrace Dr Greenacres, FL	3.0	2.0	1061	$2,500	$2.36	16d	1	0.14mi
4245 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$2,000	$2.27	25d	1	0.28mi
4243 Oak Terrace Dr #4243 Greenacres, FL	2.0	2.0	883	$1,950	$2.21	25d	1	0.28mi
4259 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,900	$2.15	25d	1	0.30mi
4838 Esedra Ct Lake Worth, FL	1.0	1.0	804	$1,550	$1.93	25d	2	0.30mi
4185 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,850	$2.10	22d	1	0.31mi
4221 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,900	$2.15	25d	1	0.32mi
104 Lake Pine Cir Unit A1 Greenacres, FL	2.0	2.0	937	$2,050	$2.19	25d	1	0.33mi
4832 Esedra Ct Lake Worth, FL	1.0–3.0	1.0–2.0	1026	$1,650	$1.61	3d	2	0.35mi
4147 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$2,000	$2.27	0d	1	0.35mi
4121 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,950	$2.21	25d	1	0.36mi
102 Lake Pine Cir Unit A2 Greenacres, FL	2.0	1.0	937	$1,500	$1.60	25d	1	0.36mi
4101 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,850	$2.10	11d	1	0.36mi
4801 Esedra Ct #201 Lake Worth, FL	2.0	2.0	1005	$2,300	$2.29	25d	1	0.39mi
4801 Esedra Ct Lake Worth, FL	2.0	2.0	1027	$2,075	$2.02	11d	2	0.39mi
105 Lake Pine Cir Unit B2 Greenacres, FL	2.0	2.0	937	$2,000	$2.13	25d	1	0.41mi
121 Lake Pine Cir Unit A2 Greenacres, FL	2.0	1.0	818	$1,600	$1.96	25d	1	0.41mi
4254 Deste Ct #305 Greenacres, FL	1.0	1.0	716	$1,500	$2.09	25d	1	0.43mi
5905 Triphammer Rd Lake Worth, FL	2.0	2.0	1020	$3,000	$2.94	25d	1	0.44mi
133 Lake Pine Cir Greenacres, FL	1.0	1.0	639	$1,300	$2.03	19d	1	0.46mi
133 Lake Pine Cir Unit B1 Greenacres, FL	1.0	1.0	639	$1,450	$2.27	25d	1	0.46mi
4266 Deste Ct #107 Greenacres, FL	2.0	2.0	978	$2,100	$2.15	25d	1	0.48mi
6615 Waterfront Xing Lake Worth, FL	1.0–3.0	1.0–2.0	1087	$2,864	$2.63	0d	23	0.51mi
231 Pine Hov Cir Unit A1 Greenacres, FL	1.0	1.0	818	$1,650	$2.02	25d	1	0.52mi
4242 Deste Ct Unit 208 Greenacres, FL	2.0	2.0	978	$2,500	$2.56	25d	1	0.53mi
4657 Fountains Dr S #206 Lake Worth, FL	1.0	1.0	882	$1,650	$1.87	12d	1	0.55mi
211 Pine Hov Cir Unit D2 Greenacres, FL	2.0	2.0	924	$1,700	$1.84	0d	1	0.59mi
4236 Deste Ct #108 Greenacres, FL	1.0	1.0	716	$1,800	$2.51	18d	1	0.59mi
4284 Deste Ct #304 Greenacres, FL	1.0	1.0	716	$2,200	$3.07	17d	1	0.63mi
4230 Deste Ct Unit 305 Greenacres, FL	1.0	1.0	716	$1,900	$2.65	6d	1	0.64mi
335 Knotty Pine Cir Unit D2 Greenacres, FL	2.0	2.0	937	$1,750	$1.87	25d	1	0.69mi

HOA detail condo

• Monthly dues: $551 · $6,612/yr
• Likely covers: electricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $139,995 Active 79 DOM
2. 2026-06-17
   price $139,995 Active 78 DOM
3. 2026-06-17
   days on market $147,741 Active 78 DOM
4. 2026-06-16
   days on market $147,741 Active 77 DOM
5. 2026-06-15
   days on market $147,741 Active 76 DOM
6. 2026-06-13
   days on market $147,741 Active 74 DOM
7. 2026-06-09
   days on market $147,741 Active 70 DOM
8. 2026-06-08
   days on market $147,741 Active 69 DOM
9. 2026-06-07
   days on market $147,741 Active 68 DOM
10. 2026-06-04
    days on market $147,741 Active 65 DOM
11. 2026-06-03
    days on market $147,741 Active 64 DOM
12. 2026-06-02
    days on market $147,741 Active 63 DOM
13. 2026-06-01
    days on market $147,741 Active 62 DOM
14. 2026-05-31
    days on market $147,741 Active 61 DOM
15. 2026-03-31
    listed $147,741 Active

ⓘ 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: $1,333 · $111/mo
• Projected year-2 tax: $1,333 · $111/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 ≥106°F today · 28 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: $23,407
• − Mortgage interest: −$7,842
• − Property taxes: −$1,333
• − Insurance: −$700
• − Repairs & maintenance: −$1,873
• − Management: −$1,873
• − HOA: −$6,612
• − Depreciation: −$4,073
• Taxable loss: −$898
• Est. tax savings @ 24.0%: +$215
• After-tax cash flow: $1,252/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 — Greenacres

• Score: 69/100
• State rank: #490
• US rank: #9008

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenacres, FL
• County: Palm Beach County · 1,438,312 people
• City population: 65,478
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 65,478
• Household income: $73,865
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 1466.0

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: Hispanic / Latino 38% Black 29% White 27% Two or more races 11% Asian 4%
• Hispanic origin (detail): Mexican 8% Puerto Rican 6% Cuban 5% Dominican 2%
• Common ancestry: Hispanic 15% Romanian 1% Slovak 1%
• Foreign-born: 39% · Canada, Jamaica, China
• Languages at home: 45% English-only · Spanish 32% French/Haitian/Cajun 17% 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: ▼ -175.33%
• Current HPI: 392.055
• Rent YoY: ▲ 1.33%
• 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

• 2026-03-31 Listed $147,741 Beaches MLS

Property tax history

+8.0%/yr

Latest (2025): $1,333 · +4.4% YoY. Source: county tax records.