506 Davis Rd #70 · Palm Springs, FL 33461

$72,500

1 bd · 1.0 ba · 682 sqft · Condo public records · 21 Days on market

Built 1970 $544/mo HOA · 34% 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 +26.1/30.0
• 1% rule +10.0/10.0
• DSCR +8.8/10.0
• 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

NICE FURNISHED 2ND FLOOR END UNIT.NEWER APPLIANCES. CARPETING, VINYL. NEAR CLUBHOUSE/POOR AREA. ALL SIZES APPROX. FARBAR ONLY. STANDARDS D+N LIMITED TO 1% OF SALES PRICE.

Key facts

• $544 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: No land lease; Is a senior community
• Financial info: Pets not allowed; Community contains 766 units
• HOA & community: Community has an association (Condo Association of Lakeside Village); Monthly HOA fee; Association amenities include: billiard room, clubhouse, fitness center, game room, laundry, management, shuffleboard court, manager on site, bocce ball, business center, community room, heated pool, hobby room, internet included, kitchen facilities, lobby, maintained community, maintenance, recreation facilities

Exterior

• Parking: Asphalt parking surface; 5 open parking spaces (1 total covered/assigned space noted)
• Security: Security patrol
• Utilities: Public water; Public sewer; Cable connected; Electricity available; Water connected; Sewer connected
• Home design: Condominium; One-level living; Entry level: 1; Faces south
• Construction: Concrete/CBS construction; Built-up roof; 2-story building
• Exterior features: Open porch; Porch

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom on the main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet(s); Storm windows, sliding style
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $72k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $72k).
• Recommended offer: $71k (1.5% 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: Clifford O Taylor/Kirklane Elementary (math 26% / reading 34%, grade F, #1,882 of 2,144 statewide, top 88%, 1,230 students, 80% FRL); John I. Leonard High School (math 17% / reading 35%, grade F, #494 of 667 statewide, top 75%, 3,549 students, 67% FRL) — zoned schools average 74% FRL vs 52% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 50% district-wide (-22 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 soft (-2.5%/yr); 274 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 31% 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 $501 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.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y ago; this cycle's ask is 4733% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $26k; list at $72k implies a 179% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 2→6/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $71,412 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.21% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.81%
• DSCR: 1.48
• GRM: 3.8

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: -6.2%
• Equity multiple: 0.78×
• Total profit: $-4,414
• Equity at exit: $10,810

10-year hold

• IRR: -5.6%
• Equity multiple: 0.73×
• Total profit: $-5,432
• Equity at exit: $6,268

Cash invested: $20,300 (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: 3.8×

Monthly cashflow live

• Estimated rent: $1,601 high
• Mortgage (P&I): −$380
• Tax from tax record: −$127 /mo · $1,529/yr
• Insurance: −$30
• HOA: −$544
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $183

Break-even live

Break-even rent $1,369

Max offer price $72,500

Occupancy floor 84%

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: $18,125
• Closing costs: $2,175
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 Bonnie Blvd #144 Palm Springs, FL	1.0	1.0	702	$1,350	$1.92	24d	1	0.16mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	21d	1	0.18mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,650	$2.00	24d	3	0.20mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,550	$1.82	24d	2	0.25mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,055	$2.13	1d	14	0.38mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,375	$2.50	21d	1	0.45mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,450	$2.64	24d	1	0.45mi
555 Kirk Rd Palm Springs, FL	1.0	1.0	670	$2,352	$3.51	13d	1	0.61mi
555 Kirk Rd Palm Springs, FL	1.0	1.0	625	$2,268	$3.63	7d	1	0.61mi
555 Purdy Ln Palm Springs, FL	1.0	1.0	650	$1,375	$2.12	5d	1	0.69mi
500 Village Green Cir W Palm Springs, FL	1.0–2.0	1.0–1.5	739	$1,400	$1.89	24d	2	0.71mi
600 Village Green Ct #203 Palm Springs, FL	1.0	1.0	650	$1,300	$2.00	3d	1	0.72mi
4403 Anna Ln Unit B Palm Springs, FL	1.0	1.0	740	$1,600	$2.16	7d	1	1.00mi
1755 Forest Hill Blvd Lake Clarke Shores, FL	1.0	1.0	662	$1,595	$2.41	7d	1	1.18mi
2566 Garden Dr S Lake Worth Beach, FL	1.0	1.0	744	$1,395	$1.88	24d	1	1.25mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,722	$2.51	1d	5	1.30mi
3260 Hi St Unit B Lake Worth Beach, FL	1.0	1.0	400	$1,700	$4.25	24d	1	1.35mi
3263 Kirk Rd #2 Lake Worth, FL	1.0	1.0	619	$1,650	$2.67	24d	1	1.38mi
3263 Kirk Rd #2 Lake Worth, FL	1.0	1.0	619	$1,650	$2.67	7d	1	1.38mi
2550 Lakehaven Rd West Palm Beach, FL	1.0	1.0	400	$1,500	$3.75	24d	1	1.46mi
3874 7th Ave N Unit 3878 Lake Worth Beach, FL	1.0	1.0	528	$1,600	$3.03	24d	1	1.49mi

HOA detail condo

• Monthly dues: $544 · $6,528/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-13
   statusdays on market $72,500 Pending 21 DOM
2. 2026-06-09
   days on market $72,500 Active 18 DOM
3. 2026-06-08
   days on market $72,500 Active 17 DOM
4. 2026-06-07
   days on market $72,500 Active 16 DOM
5. 2026-06-04
   days on market $72,500 Active 13 DOM
6. 2026-06-03
   days on market $72,500 Active 12 DOM
7. 2026-06-02
   days on market $72,500 Active 11 DOM
8. 2026-06-01
   days on market $72,500 Active 10 DOM
9. 2026-05-31
   days on market $72,500 Active 9 DOM
10. 2026-05-23
    listed $1,500
11. 2026-05-21
    listed $72,500 Active
12. 2025-10-05
    historical $1,400
13. 2025-10-04
    historical
14. 2025-09-18
    price $1,400
15. 2025-07-26
    listed $1,500
16. 2025-05-16
    listed $74,500 Active
17. 2002-02-05
    soldstatus $26,000
18. 2002-02-01
    soldstatus $26,000 170-char remark

    Show marketing remark (170 chars)

    NICE FURNISHED 2ND FLOOR END UNIT.NEWER APPLIANCES. CARPETING, VINYL. NEAR CLUBHOUSE/POOR AREA. ALL SIZES APPROX. FARBAR ONLY. STANDARDS D+N LIMITED TO 1% OF SALES PRICE.

19. 2001-12-11
    historical 170-char remark

    Show marketing remark (170 chars)

    NICE FURNISHED 2ND FLOOR END UNIT.NEWER APPLIANCES. CARPETING, VINYL. NEAR CLUBHOUSE/POOR AREA. ALL SIZES APPROX. FARBAR ONLY. STANDARDS D+N LIMITED TO 1% OF SALES PRICE.

20. 2001-07-27
    listed $28,000 170-char remark

    Show marketing remark (170 chars)

    NICE FURNISHED 2ND FLOOR END UNIT.NEWER APPLIANCES. CARPETING, VINYL. NEAR CLUBHOUSE/POOR AREA. ALL SIZES APPROX. FARBAR ONLY. STANDARDS D+N LIMITED TO 1% OF SALES PRICE.

21. 1991-02-01
    soldstatus $24,500

ⓘ 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: $1,529 · $127/mo
• Projected year-2 tax: $1,529 · $127/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 2 d/yr ≥105°F today · 6 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: $19,209
• − Mortgage interest: −$4,061
• − Property taxes: −$1,529
• − Insurance: −$362
• − Repairs & maintenance: −$1,537
• − Management: −$1,537
• − HOA: −$6,528
• − Depreciation: −$2,109
• Taxable income: $1,546
• Est. tax owed @ 24.0%: −$371
• After-tax cash flow: $1,823/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

-93.9% since first listed

12 events — show timeline

• 2026-05-23 Listed for Rent $1,500 GFLMLS
• 2026-05-21 Listed $72,500 Beaches MLS
• 2025-10-05 Rental Removed $1,400 RMLSFL
• 2025-10-04 Listing Removed — Beaches MLS
• 2025-09-18 Price Changed $1,400 RMLSFL
• 2025-07-26 Listed for Rent $1,500 RMLSFL
• 2025-05-16 Listed $74,500 Beaches MLS
• 2002-02-05 Sold (Public Records) $26,000 Public Records
• 2002-02-01 Sold (MLS) $26,000 Beaches MLS
• 2001-12-11 Listing Removed — Beaches MLS
• 2001-07-27 Listed $28,000 Beaches MLS
• 1991-02-01 Sold (Public Records) $24,500 Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,529 · +4.0% YoY. Source: county tax records.