5324 Gray Fox Ct · Royal Palm Estates, FL 33415

$359,000

3 bd · 2.0 ba · 1,143 sqft · Townhouse public records · 45 Days on market

Built 1989 $100/mo HOA · 4% of rent

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Why this score? — see what drove the D- 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 +12.9/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• DSCR +3.9/10.0
• Livability +3.7/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

''PROPERTY SOLD ''''AS-IS'''''' SELLING COMMISSION UP TO 5% FOR AVAILABILITY AND BIDDING GO ON THE INTERNET TO WWW. FIRSTPRESTON. COM

Key facts

• Additional room
• Fenced backyard
• Corner lot

Tags

• CORNER LOT
• FENCED BACKYARD
• ADDITIONAL ROOM
• HOME OFFICE
• EASY ACCESS TO SHOPPING

Property features AI

Finance

• Financial info: Pets allowed with restrictions or conditions
• HOA & community: Monthly association fee of $100; Association amenities include pool(s)

Exterior

• Parking: Assigned parking; Two or more spaces
• Utilities: Has heating and cooling
• Home design: Attached property; Single-story; Entry level: 1
• Construction: Resale property
• Exterior features: Patio; Association pool

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Attic and den listed as room types
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Main living area on entry level; Living/dining room; Attic; Bedroom on main level
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $359k.

Deal economics

• At list price, monthly cash flow is $-26 ($-315/yr) — negative.
• To cash-flow at today's rent, offer at most $354k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $277k (22.9% below list).
• Recommended offer: $277k (22.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#290 in FL, #4,897 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, 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.
• Market conditions: Rents soft (-1.6%/yr); 314 active listings in the ZIP; 13 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).
• At $2,767/mo this rent would consume 54% of the median local household income ($61k/yr) (locally 2254% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k 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 45 days — a 3% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y ago; this cycle's ask has dropped $21k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $67k; list at $359k implies a 434% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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.

Recommended offer $276,741 (22.9% below list)

Questions for the listing agent

1. 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?
2. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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. 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 0.77% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.31%
• DSCR: 0.99
• GRM: 10.8

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: -19.9%
• Equity multiple: 0.32×
• Total profit: $-68,080
• Equity at exit: $53,528

10-year hold

• IRR: -20.0%
• Equity multiple: 0.07×
• Total profit: $-93,280
• Equity at exit: $31,040

Cash invested: $100,520 (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 33415

• Rents YoY: -1.6%
• Active inventory: 314
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,767 high
• Mortgage (P&I): −$1,883
• Tax from tax record: −$80 /mo · $964/yr
• Insurance: −$150
• HOA: −$100
• Vacancy / Maint / Mgmt: −$581
• Net cashflow: $-26

Break-even live

Break-even rent $2,801

Max offer price $354,360

Occupancy floor 96%

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1051 Summit Place Cir Unit D West Palm Beach, FL	3.0	2.0	1332	$2,600	$1.95	24d	1	0.85mi
1148 Summit Trail Cir Unit D West Palm Beach, FL	3.0	2.0	1332	$3,100	$2.33	15d	1	0.85mi
663 White Water Dr West Palm Beach, FL	3.0	2.0	1400	$2,800	$2.00	24d	1	0.90mi
6200 Wallis Rd West Palm Beach, FL	1.0–2.0	1.0–2.0	740	$2,570	$3.47	3d	6	0.99mi
759 Caroline Ave West Palm Beach, FL	4.0	2.0	1337	$3,000	$2.24	24d	1	1.05mi
1364 Climbing Rose Ln West Palm Beach, FL	3.0	2.0	1492	$2,700	$1.81	24d	1	1.13mi
938 Sarazen Dr West Palm Beach, FL	3.0	2.0	1104	$2,900	$2.63	24d	1	1.25mi
5360 Kim Ct West Palm Beach, FL	3.0	2.0	1407	$3,100	$2.20	24d	1	1.25mi
2004 Maplewood Dr Unit 2004 Greenacres, FL	2.0	2.0	1220	$2,500	$2.05	24d	1	1.36mi
2004 Maplewood Dr Unit 2004 Greenacres, FL	2.0	2.0	1220	$2,500	$2.05	1d	1	1.36mi
1070 Parkside Green Dr Unit A Greenacres, FL	3.0	2.0	1375	$3,000	$2.18	15d	1	1.39mi
1120 Parkside Green Dr Unit C Greenacres, FL	3.0	2.0	1212	$2,800	$2.31	24d	1	1.41mi
2306 Maplewood Dr Greenacres, FL	2.0	2.0	1127	$2,450	$2.17	24d	1	1.44mi

HOA detail

• Monthly dues: $100 · $1,200/yr
• Likely covers: internet

Listing history 18 events

1. 2026-06-18
   days on market $359,000 Active 45 DOM
2. 2026-06-17
   days on market $359,000 Active 44 DOM
3. 2026-06-16
   days on market $359,000 Active 43 DOM
4. 2026-06-15
   pricedays on market $359,000 Active 42 DOM
5. 2026-06-13
   days on market $380,000 Active 40 DOM
6. 2026-06-09
   days on market $380,000 Active 36 DOM
7. 2026-06-08
   days on market $380,000 Active 35 DOM
8. 2026-06-07
   days on market $380,000 Active 34 DOM
9. 2026-06-04
   days on market $380,000 Active 31 DOM
10. 2026-06-03
    days on market $380,000 Active 30 DOM
11. 2026-06-02
    days on market $380,000 Active 29 DOM
12. 2026-06-01
    days on market $380,000 Active 28 DOM
13. 2026-05-31
    days on market $380,000 Active 27 DOM
14. 2026-05-04
    listed $380,000 Active
15. 1999-10-07
    soldstatus $67,205 133-char remark

    Show marketing remark (133 chars)

    ''PROPERTY SOLD ''''AS-IS'''''' SELLING COMMISSION UP TO 5% FOR AVAILABILITY AND BIDDING GO ON THE INTERNET TO WWW. FIRSTPRESTON. COM

16. 1999-08-19
    historical 133-char remark

    Show marketing remark (133 chars)

    ''PROPERTY SOLD ''''AS-IS'''''' SELLING COMMISSION UP TO 5% FOR AVAILABILITY AND BIDDING GO ON THE INTERNET TO WWW. FIRSTPRESTON. COM

17. 1999-08-11
    listed $70,000 133-char remark

    Show marketing remark (133 chars)

    ''PROPERTY SOLD ''''AS-IS'''''' SELLING COMMISSION UP TO 5% FOR AVAILABILITY AND BIDDING GO ON THE INTERNET TO WWW. FIRSTPRESTON. COM

18. 1994-03-18
    soldstatus $70,300

ⓘ 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: $964 · $80/mo
• Projected year-2 tax: $2,980 · $248/mo
• Expected delta: +$2,016/yr (+$168/mo · 209.2%)

ⓘ 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 ≥105°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,209
• − Mortgage interest: −$20,110
• − Property taxes: −$964
• − Insurance: −$1,795
• − Repairs & maintenance: −$2,657
• − Management: −$2,657
• − HOA: −$1,200
• − Depreciation: −$10,444
• Taxable loss: −$6,616
• Est. tax savings @ 24.0%: +$1,588
• After-tax cash flow: $1,273/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 — Royal Palm Estates

• Score: 74/100
• State rank: #290
• US rank: #4897

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 54,581
• Household income: $61,274
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 2254.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 53% Two or more races 26% White 21% Black 21% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 6% Cuban 14% Dominican 2% Salvadoran 1%
• Common ancestry: Hispanic 9% Romanian 1% Lithuanian 1%
• Foreign-born: 44% · Canada, Jamaica, Dominican Republic
• Languages at home: 40% English-only · Spanish 49% French/Haitian/Cajun 8% Other Indo-European 1%

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: ▼ -400.29%
• Current HPI: 413.9695
• Rent YoY: ▼ -1.64%
• 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

+440.5% since first listed

5 events — show timeline

• 2026-05-04 Listed $380,000 MARMLS
• 1999-10-07 Sold (MLS) $67,205 Beaches MLS
• 1999-08-19 Listing Removed — Beaches MLS
• 1999-08-11 Listed $70,000 Beaches MLS
• 1994-03-18 Sold (Public Records) $70,300 Public Records

Property tax history

+0.8%/yr

Latest (2025): $964 · +2.4% YoY. Source: county tax records.