230 Pine Hov Cir Unit A-2 · Greenacres, FL 33463

$109,800

2 bd · 2.0 ba · 924 sqft · Condo public records · 453 Days on market

Built 1982 $417/mo HOA · 22% of rent

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Why this score? — see what drove the B- 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 +26.3/30.0
• 1% rule +10.0/10.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 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

Pine Ridge South II is a 55 & older community. It's no secret any longer, this community has become the jewel of Greenacres, FL. This property has been admired by other Pine Ridge communities. The landscaping and the building maintenance has been impeccable. The residents have many activities in which to occupy their time. This condo is located in a desirable adult community, offering a maintenance-free lifestyle for residents 55 & over. The property features a spacious floor plan with two bedrooms, two bathrooms, and an open living and dining area. Enjoy the convenience of in-unit laundry and a private patio. The community amenities include a clubhouse, fitness center, and swimming pool, providing ample opportunities for socializing and staying active.

Key facts

• $417 HOA
• Community pool
• Built 1982

Tags

• IN-UNIT WASHER AND DRYER

Property features AI

Finance

• Other: Located in a senior community
• Financial info: Pets allowed (pet restrictions possible)
• HOA & community: HOA with monthly fee; Monthly association fee (USD 417); Association amenities include clubhouse, parking, pool, and sidewalks; Association fee covers cable TV, insurance, grounds maintenance, and common areas

Exterior

• Parking: Assigned parking
• Utilities: Public water; Three-phase electric; Cable available; Water service available
• Home design: Condominium; 2 stories; Entry-level living area; Faces southwest; Resale property
• Construction: Concrete construction; Composition/shingle roof
• Exterior features: Screened patio; Patio

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Has heating (other type); Central air conditioning
• Interior features: Furnished; Blinds on windows
• Laundry & utility: Inside laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $97k (12.0% 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: schools D+, employment D, amenities 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 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 $759 of loan paydown is wiped out by about $3k 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 453 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y ago; this cycle's ask is 5390% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,624 (12.0% below list)

Questions for the listing agent

1. It's been on market 453 days. Have you received any prior offers? Is the seller open to a 12% 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. 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 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: 1.75% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.07%
• DSCR: 1.49
• GRM: 4.8

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: -2.3%
• Equity multiple: 0.92×
• Total profit: $-2,581
• Equity at exit: $16,372

10-year hold

• IRR: 4.8%
• Equity multiple: 1.32×
• Total profit: $9,736
• Equity at exit: $9,493

Cash invested: $30,744 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,916 high
• Mortgage (P&I): −$576
• Tax from tax record: −$192 /mo · $2,300/yr
• Insurance: −$46
• HOA: −$417
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $284

Break-even live

Break-even rent $1,557

Max offer price $109,800

Occupancy floor 80%

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: $27,450
• Closing costs: $3,294
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
133 Lake Pine Cir Unit B1 Greenacres, FL	1.0	1.0	639	$1,450	$2.27	24d	1	0.03mi
133 Lake Pine Cir Greenacres, FL	1.0	1.0	639	$1,300	$2.03	18d	1	0.03mi
231 Pine Hov Cir Unit A1 Greenacres, FL	1.0	1.0	818	$1,650	$2.02	24d	1	0.05mi
121 Lake Pine Cir Unit A2 Greenacres, FL	2.0	1.0	818	$1,600	$1.96	24d	1	0.08mi
105 Lake Pine Cir Unit B2 Greenacres, FL	2.0	2.0	937	$2,000	$2.13	24d	1	0.08mi
102 Lake Pine Cir Unit A2 Greenacres, FL	2.0	1.0	937	$1,500	$1.60	24d	1	0.13mi
211 Pine Hov Cir Unit D2 Greenacres, FL	2.0	2.0	924	$1,850	$2.00	24d	1	0.13mi
104 Lake Pine Cir Unit A1 Greenacres, FL	2.0	2.0	937	$2,050	$2.19	24d	1	0.16mi
4121 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,950	$2.21	24d	1	0.19mi
4101 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,850	$2.10	11d	1	0.20mi
335 Knotty Pine Cir Unit D2 Greenacres, FL	2.0	2.0	937	$1,750	$1.87	24d	1	0.25mi
313 Knotty Pine Cir Unit A2 Greenacres, FL	2.0	2.0	937	$1,900	$2.03	24d	1	0.30mi
4185 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,850	$2.10	22d	1	0.30mi
317 Knotty Pine Cir Unit A2 Greenacres, FL	2.0	1.0	818	$1,500	$1.83	24d	1	0.32mi
4221 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,900	$2.15	24d	1	0.33mi
4245 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$2,000	$2.27	24d	1	0.33mi
4243 Oak Terrace Dr #4243 Greenacres, FL	2.0	2.0	883	$1,950	$2.21	24d	1	0.33mi
4259 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,900	$2.15	24d	1	0.35mi
4535 Oak Terrace Dr Greenacres, FL	3.0	2.0	1061	$2,400	$2.26	12d	1	0.37mi
4535 Oak Terrace Dr Greenacres, FL	3.0	2.0	1061	$2,500	$2.36	15d	1	0.37mi
4205 S 57th Ave Unit G Greenacres, FL	2.0	2.0	1046	$1,900	$1.82	24d	1	0.44mi
4181 S 57th Ave Unit D Greenacres, FL	2.0	2.0	847	$1,850	$2.18	24d	1	0.47mi
4191 S 57th Ave Unit H Greenacres, FL	2.0	2.0	847	$1,750	$2.07	24d	1	0.48mi
407 Pine Cir Unit B1 Greenacres, FL	2.0	2.0	922	$1,750	$1.90	24d	1	0.51mi
407 Pine Cir Unit C1 Greenacres, FL	2.0	2.0	922	$1,800	$1.95	24d	1	0.51mi
417 Pine Glen Ln Unit D2 Greenacres, FL	2.0	2.0	922	$1,550	$1.68	24d	1	0.52mi
417 Pine Glen Ln Unit C2 Greenacres, FL	2.0	2.0	922	$1,800	$1.95	24d	1	0.52mi
408 Pine Glen Ln Unit C-2 Greenacres, FL	2.0	1.0	804	$1,600	$1.99	24d	1	0.52mi
446 Pine Glen Ln Unit A1 Greenacres, FL	1.0	1.0	614	$1,550	$2.52	15d	1	0.56mi
443 Pine Glen Ln Unit B2 Greenacres, FL	2.0	2.0	922	$1,500	$1.63	24d	1	0.57mi
5905 Triphammer Rd Lake Worth, FL	2.0	2.0	1020	$3,000	$2.94	24d	1	0.58mi
429 Pine Glen Ln Unit C2 Greenacres, FL	2.0	1.0	804	$1,650	$2.05	24d	1	0.61mi
4838 Esedra Ct Lake Worth, FL	1.0	1.0	804	$1,550	$1.93	24d	2	0.72mi
6615 Waterfront Xing Lake Worth, FL	1.0–3.0	1.0–2.0	1087	$2,864	$2.63	1d	22	0.74mi
4254 Deste Ct #305 Greenacres, FL	1.0	1.0	716	$1,500	$2.09	24d	1	0.77mi
4832 Esedra Ct Lake Worth, FL	1.0–3.0	1.0–2.0	1026	$1,650	$1.61	3d	2	0.78mi
4266 Deste Ct #107 Greenacres, FL	2.0	2.0	978	$2,100	$2.15	24d	1	0.85mi
4801 Esedra Ct Lake Worth, FL	2.0	2.0	1027	$2,075	$2.02	11d	2	0.85mi
4801 Esedra Ct #201 Lake Worth, FL	2.0	2.0	1005	$2,300	$2.29	24d	1	0.85mi
4242 Deste Ct Unit 208 Greenacres, FL	2.0	2.0	978	$2,500	$2.56	24d	1	0.85mi

HOA detail condo

• Monthly dues: $417 · $5,004/yr
• Likely covers: cablelandscapingpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-18
   days on market $109,800 Active 453 DOM
2. 2026-06-17
   days on market $109,800 Active 452 DOM
3. 2026-06-16
   days on market $109,800 Active 451 DOM
4. 2026-06-15
   days on market $109,800 Active 450 DOM
5. 2026-06-13
   days on market $109,800 Active 448 DOM
6. 2026-06-09
   days on market $109,800 Active 444 DOM
7. 2026-06-07
   pricedays on market $109,800 Active 442 DOM
8. 2026-06-04
   days on market $109,900 Active 439 DOM
9. 2026-06-03
   days on market $109,900 Active 438 DOM
10. 2026-06-01
    days on market $109,900 Active 436 DOM
11. 2026-05-31
    days on market $109,900 Active 435 DOM
12. 2026-04-29
    status Active
13. 2026-04-22
    status Pending
14. 2026-04-01
    price $110,000
15. 2026-03-31
    status Active
16. 2025-10-11
    historical Active Under Contract
17. 2025-10-02
    price $115,000
18. 2025-09-11
    status Active
19. 2025-08-29
    historical $1,775
20. 2025-06-04
    status Pending
21. 2025-05-16
    price $125,000
22. 2025-04-26
    price $1,775
23. 2025-04-25
    price $145,000
24. 2025-03-25
    price $1,850
25. 2025-02-18
    listed $2,000
26. 2025-02-17
    price $149,000
27. 2025-02-08
    price $159,900
28. 2025-01-20
    price $169,900
29. 2024-12-06
    listed $175,000 Active
30. 2023-11-29
    soldstatus $160,000
31. 2023-11-07
    soldstatus $160,000 Closed 775-char remark

    Show marketing remark (775 chars)

    Pine Ridge South II is a 55 & older community. It's no secret any longer, this community has become the jewel of Greenacres, FL. This property has been admired by other Pine Ridge communities. The landscaping and the building maintenance has been impeccable. The residents have many activities in which to occupy their time. This condo is located in a desirable adult community, offering a maintenance-free lifestyle for residents 55 & over. The property features a spacious floor plan with two bedrooms, two bathrooms, and an open living and dining area. Enjoy the convenience of in-unit laundry and a private patio. The community amenities include a clubhouse, fitness center, and swimming pool, providing ample opportunities for socializing and staying active.

32. 2023-10-08
    historical Active Under Contract 775-char remark

    Show marketing remark (775 chars)

    Pine Ridge South II is a 55 & older community. It's no secret any longer, this community has become the jewel of Greenacres, FL. This property has been admired by other Pine Ridge communities. The landscaping and the building maintenance has been impeccable. The residents have many activities in which to occupy their time. This condo is located in a desirable adult community, offering a maintenance-free lifestyle for residents 55 & over. The property features a spacious floor plan with two bedrooms, two bathrooms, and an open living and dining area. Enjoy the convenience of in-unit laundry and a private patio. The community amenities include a clubhouse, fitness center, and swimming pool, providing ample opportunities for socializing and staying active.

33. 2023-09-30
    listed $164,900 Active 775-char remark

    Show marketing remark (775 chars)

    Pine Ridge South II is a 55 & older community. It's no secret any longer, this community has become the jewel of Greenacres, FL. This property has been admired by other Pine Ridge communities. The landscaping and the building maintenance has been impeccable. The residents have many activities in which to occupy their time. This condo is located in a desirable adult community, offering a maintenance-free lifestyle for residents 55 & over. The property features a spacious floor plan with two bedrooms, two bathrooms, and an open living and dining area. Enjoy the convenience of in-unit laundry and a private patio. The community amenities include a clubhouse, fitness center, and swimming pool, providing ample opportunities for socializing and staying active.

34. 2004-06-04
    soldstatus $78,000 52-char remark

    Show marketing remark (52 chars)

    NICE TOP FLOOR UNIT.RENOVATED THIS YEAR. VERY CLEAN.

35. 2004-01-25
    historical 52-char remark

    Show marketing remark (52 chars)

    NICE TOP FLOOR UNIT.RENOVATED THIS YEAR. VERY CLEAN.

36. 2004-01-24
    listed $82,900 52-char remark

    Show marketing remark (52 chars)

    NICE TOP FLOOR UNIT.RENOVATED THIS YEAR. VERY CLEAN.

37. 1981-03-01
    soldstatus $44,300

ⓘ 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: $2,300 · $192/mo
• Projected year-2 tax: $2,300 · $192/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 ≥105°F today · 27 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: $22,994
• − Mortgage interest: −$6,151
• − Property taxes: −$2,300
• − Insurance: −$549
• − Repairs & maintenance: −$1,840
• − Management: −$1,840
• − HOA: −$5,004
• − Depreciation: −$3,194
• Taxable income: $2,117
• Est. tax owed @ 24.0%: −$508
• After-tax cash flow: $2,895/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

+148.3% since first listed

26 events — show timeline

• 2026-04-29 Relisted — Beaches MLS
• 2026-04-22 Pending — Beaches MLS
• 2026-04-01 Price Changed $110,000 Beaches MLS
• 2026-03-31 Relisted — Beaches MLS
• 2025-10-11 Contingent — Beaches MLS
• 2025-10-02 Price Changed $115,000 Beaches MLS
• 2025-09-11 Relisted — Beaches MLS
• 2025-08-29 Rental Removed $1,775 RMLSFL
• 2025-06-04 Pending — Beaches MLS
• 2025-05-16 Price Changed $125,000 Beaches MLS
• 2025-04-26 Price Changed $1,775 RMLSFL
• 2025-04-25 Price Changed $145,000 Beaches MLS
• 2025-03-25 Price Changed $1,850 RMLSFL
• 2025-02-18 Listed for Rent $2,000 RMLSFL
• 2025-02-17 Price Changed $149,000 Beaches MLS
• 2025-02-08 Price Changed $159,900 Beaches MLS
• 2025-01-20 Price Changed $169,900 Beaches MLS
• 2024-12-06 Listed $175,000 Beaches MLS
• 2023-11-29 Sold (Public Records) $160,000 Public Records
• 2023-11-07 Sold (MLS) $160,000 Beaches MLS
• 2023-10-08 Contingent — Beaches MLS
• 2023-09-30 Listed $164,900 Beaches MLS
• 2004-06-04 Sold (MLS) $78,000 Beaches MLS
• 2004-01-25 Listing Removed — Beaches MLS
• 2004-01-24 Listed $82,900 Beaches MLS
• 1981-03-01 Sold (Public Records) $44,300 Public Records

Property tax history

+6.2%/yr

Latest (2025): $2,300 · +0.2% YoY. Source: county tax records.