10342 Wellington Parc Dr

Wellington, FL 33449

$495,000D-

3 bd · 2.5 ba · 1,783 sqft · Built 2014 · Townhouse · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,076/mo
• Mortgage (P&I): −$2,596
• Tax + insurance: −$883
• HOA: −$215
• Vac / Maint / Mgmt: −$856
• Net cashflow: $-475/mo
• Annual: $-5,695/yr
• Cap rate: 5.14%
• Cash-on-cash: -4.11%
• DSCR: 0.82
• 1% rule: 0.82%
• Cash to close: $138,600

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $495k.
• At list price, monthly cash flow is $-475 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $411k (16.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $408k (17.7% below list).
• It's been on market 23 days — a 2% lower offer ($488k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $408k (17.7% below list) — sets the bar for 1% rule.
• In year one you build about $81 of equity ($3k loan paydown + $-3k appreciation (-0.7% local appreciation)).
• Location reads 73/100 on livability (#294 in FL, #4,986 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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: Panther Run Elementary School (math 85% / reading 82%, grade A+, #60 of 2,144 statewide, top 3%, 787 students, 19% FRL); Polo Park Middle School (math 65% / reading 68%, grade A-, #84 of 571 statewide, top 16%, 1,156 students, 33% FRL); Palm Beach Central High School (math 42% / reading 55%, grade D, #198 of 667 statewide, top 30%, 2,980 students, 40% FRL) — zoned schools average 31% FRL vs 52% district-wide (21 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 66% at this address vs 50% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Palm Beach average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 171 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).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 8y 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.1% vs local median 3.4% in Wellington — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.