321 Pine Ridge Cir Unit C-2 · Greenacres, FL 33463

$139,900

2 bd · 1.5 ba · 935 sqft · Condo public records · 8 Days on market

Built 1980 $433/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 +22.8/30.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 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 MLS

Enjoy the 55+ lifestyle in the active, social community of Pine Ridge III in Greenacres. 2BR / 1.5BA 2nd floor unit with beautiful courtyard view. Open concept common area, with kitchen facing large living room. Wood laminate floors, All appliances, including W/ D, 2 years old. AC and HWH 4 years old. Condo is a short walk to clubhouse, pool, tennis, bocce. Social activities abound - weekly luncheon, book club, cards, bingo and many more. Come see how the south florida lifestyle can be yours today!

Key facts

• $433 HOA
• Parking
• Community pool

Property features AI

Finance

• HOA & community: Pine Ridge III association; Monthly HOA fee of $433; HOA covers cable TV, grounds maintenance, trash, common areas, reserve funds, and pool service; Association amenities include clubhouse, pool, billiard room, tennis courts, shuffleboard court, and pickleball courts; Senior community; Pets not allowed

Exterior

• Parking: Assigned parking; Guest parking; Total of 1 parking space
• Utilities: Public water; Public sewer; Three phase electric; Cable available; Electricity connected
• Home design: Condominium; One level; Faces northwest; 2 total stories in building
• Construction: Stucco and CBS construction; Shingle roof
• Exterior features: Not waterfront

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central individual heating; Central individual cooling
• Interior features: Kitchen island; Furnished
• Laundry & utility: Inside laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $242 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).

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: Liberty Park Elementary School (math 25% / reading 38%, grade F, #1,841 of 2,144 statewide, top 86%, 845 students, 76% FRL); L C Swain Middle School (math 26% / reading 33%, grade F, #469 of 571 statewide, top 84%, 1,451 students, 74% FRL) — zoned schools average 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% at this address vs 50% district-wide (-19 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 24d 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 ($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 $967 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $94k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.38% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.42%
• DSCR: 1.33
• GRM: 6.1

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: -7.2%
• Equity multiple: 0.74×
• Total profit: $-10,196
• Equity at exit: $20,860

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-735
• Equity at exit: $12,096

Cash invested: $39,172 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,926 high
• Mortgage (P&I): −$734
• Tax from tax record: −$54 /mo · $648/yr
• Insurance: −$58
• HOA: −$433
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $242

Break-even live

Break-even rent $1,619

Max offer price $139,900

Occupancy floor 82%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
342 Pine Ridge Cir Unit B2 Greenacres, FL	2.0	1.5	935	$2,200	$2.35	15d	1	0.16mi
3490 La Jardin Ct Unit B2 Greenacres, FL	1.0	1.0	780	$1,385	$1.78	3d	1	0.31mi
5971 La Pinata Blvd Unit B1 Greenacres, FL	2.0	1.0	920	$1,750	$1.90	24d	1	0.45mi
5855 S 37th St Unit 5857 Greenacres, FL	2.0	1.0	747	$1,974	$2.64	7d	1	0.50mi
2980 Crosley Dr E Unit F West Palm Beach, FL	2.0	1.0	829	$1,600	$1.93	24d	1	0.50mi
3045 Jackson Ave Greenacres, FL	2.0	1.0	900	$1,775	$1.97	24d	1	0.60mi
6061 10th Ave N #242 Greenacres, FL	2.0	2.0	855	$2,000	$2.34	5d	1	0.61mi
6031 10th Ave N #219 Greenacres, FL	3.0	2.0	1078	$2,400	$2.23	4d	1	0.63mi
2854 Crosley Dr E Unit J West Palm Beach, FL	1.0	1.0	612	$1,300	$2.12	24d	1	0.63mi
2805 Crosley Dr E Unit E West Palm Beach, FL	1.0	1.5	662	$1,250	$1.89	24d	1	0.64mi
2783 Dudley Dr E Unit D West Palm Beach, FL	2.0	2.0	910	$1,650	$1.81	16d	1	0.66mi
4904 Dillon St Unit C Greenacres, FL	1.0	1.0	699	$1,450	$2.07	24d	1	0.67mi
5775 Fernley Dr W #131 West Palm Beach, FL	2.0	2.0	1072	$2,000	$1.87	11d	1	0.68mi
2715 Emory Dr W Unit C West Palm Beach, FL	1.0	1.5	661	$1,425	$2.16	17d	1	0.68mi
2723 Dudley Dr W Unit G West Palm Beach, FL	1.0	1.0	611	$1,300	$2.13	24d	1	0.69mi
5443 Cresthaven Blvd Unit F West Palm Beach, FL	2.0	2.0	910	$1,550	$1.70	2d	1	0.70mi
2951 Ashley Dr W Unit D West Palm Beach, FL	1.0	1.5	662	$1,450	$2.19	16d	1	0.71mi
2951 Ashley Dr W West Palm Beach, FL	1.0	1.5	662	$1,525	$2.30	20d	1	0.71mi
2731 Barkley Dr W Unit B West Palm Beach, FL	2.0	2.0	895	$1,800	$2.01	24d	1	0.76mi
2647 Emory Dr W Unit C West Palm Beach, FL	1.0	1.0	612	$1,250	$2.04	24d	1	0.77mi
6170 Dodd Rd Unit The Greenacres, FL	2.0	2.0	1000	$2,600	$2.60	24d	1	0.79mi
2607 Dudley Dr W Unit L West Palm Beach, FL	1.0	1.0	611	$1,300	$2.13	7d	1	0.79mi
2625 Emory Dr W Unit F West Palm Beach, FL	2.0	2.0	895	$1,700	$1.90	24d	1	0.81mi
3750 Mil-Race Ct Unit 3769 Greenacres, FL	2.0	2.0	921	$2,350	$2.55	24d	1	0.81mi
826 Sky Pine Way Greenacres, FL	2.0–3.0	2.0	1304	$1,800	$1.38	12d	2	0.81mi
3750 Mil Race Ct Unit 3774 Greenacres, FL	2.0	2.0	921	$2,100	$2.28	24d	1	0.81mi
2966 Ashley Dr E Unit C West Palm Beach, FL	1.0	1.0	611	$1,375	$2.25	24d	1	0.82mi
4191 S 57th Ave Unit H Greenacres, FL	2.0	2.0	847	$1,750	$2.07	24d	1	0.82mi
3769 Mil Race Ct Greenacres, FL	2.0	2.0	921	$2,250	$2.44	24d	1	0.82mi
813 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1111	$1,725	$1.55	2d	1	0.83mi
813 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1111	$1,725	$1.55	15d	1	0.83mi
4181 S 57th Ave Unit D Greenacres, FL	2.0	2.0	847	$1,850	$2.18	24d	1	0.83mi
3762 Mil Race Ct Greenacres, FL	3.0	2.0	921	$2,250	$2.44	24d	1	0.83mi
2515 Emory Dr W Unit A West Palm Beach, FL	2.0	2.0	895	$1,700	$1.90	3d	1	0.83mi
2515 Emory Dr W Unit A West Palm Beach, FL	2.0	2.0	895	$1,750	$1.96	24d	1	0.83mi
629 Sea Pine Way Unit D3 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	22d	1	0.84mi
3774 Mil Race Ct Greenacres, FL	2.0	2.0	921	$2,100	$2.28	24d	1	0.85mi
4205 S 57th Ave Unit G Greenacres, FL	2.0	2.0	1046	$1,900	$1.82	24d	1	0.86mi
2556 Dudley Dr E Unit D West Palm Beach, FL	2.0	1.0	829	$1,550	$1.87	24d	1	0.86mi
2567 Dudley Dr W Unit F West Palm Beach, FL	2.0	1.0	815	$1,550	$1.90	24d	1	0.86mi

HOA detail condo

• Monthly dues: $433 · $5,196/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-18
   days on market $139,900 Active 8 DOM
2. 2026-06-17
   days on market $139,900 Active 7 DOM
3. 2026-06-16
   days on market $139,900 Active 6 DOM
4. 2026-06-15
   days on market $139,900 Active 5 DOM
5. 2026-06-13
   listed $139,900 Active 3 DOM

ⓘ 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: $648 · $54/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$513/yr (+$43/mo · 79.1%)

ⓘ 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 7 d/yr ≥105°F today · 24 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: $23,109
• − Mortgage interest: −$7,837
• − Property taxes: −$648
• − Insurance: −$700
• − Repairs & maintenance: −$1,849
• − Management: −$1,849
• − HOA: −$5,196
• − Depreciation: −$4,070
• Taxable income: $961
• Est. tax owed @ 24.0%: −$231
• After-tax cash flow: $2,678/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

+280.2% since first listed

8 events — show timeline

• 2026-06-08 Listed $139,900 Beaches MLS
• 2021-03-24 Sold (MLS) $94,000 Beaches MLS
• 2021-02-10 Contingent — Beaches MLS
• 2021-02-04 Price Changed $98,000 Beaches MLS
• 2021-01-29 Listed $109,900 Beaches MLS
• 2021-01-17 Listing Removed — Beaches MLS
• 2020-10-16 Listed $98,000 Beaches MLS
• 1980-01-01 Sold (Public Records) $36,800 Public Records

Property tax history

-1.6%/yr

Latest (2025): $648 · +3.7% YoY. Source: county tax records.