6505 Emerald Dunes Dr #204 · West Palm Beach, FL 33411

$299,899

3 bd · 2.0 ba · 1,381 sqft · Condo public records · 73 Days on market

Built 2006 $562/mo HOA · 23% 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.1/30.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• 1% rule +3.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks

MOTIVATED SELLER Rare 3 Bedroom 2 bath w/ Garage, one of the few units on the 2nd floor with no unit above or below. This property boasts ample space for comfort and relaxation. The condo is nestled within a gated community, ensuring your peace of mind. The kitchen is a chef's dream, featuring granite countertops and stainless steel appliances. Includes a walk-in closet, crown molding, and hurricane windows for added safety and convenience. The community amenities are second to none. Enjoy 2 resort-style pools, perfect for those hot Florida days, or keep fit in the 2 state-of-the-art fitness center. Tennis enthusiasts will appreciate the well-maintained tennis court, while golfers can pract

Key facts

• $562 HOA
• Garage
• Community pool

Property features AI

Finance

• Other: Pets allowed with possible breed, number, and size restrictions
• HOA & community: Monthly HOA fee; Community amenities: billiard room, fitness center, pool, spa/hot tub, tennis courts, putting green, picnic area, business center, manager on site, management, and on-site business center

Exterior

• Parking: 2 total parking spaces; 1-car garage (detached); 1 covered space
• Security: Gated community (no guard); Security patrol
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; 3-story building; Resale condition; Faces south
• Construction: Concrete, stucco, CBS construction
• Exterior features: No waterfront; Composition/Shingle roof

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms (all on main level)
• Flooring: Carpet
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Roman tub

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $300k.

Deal economics

• At list price, monthly cash flow is $-697 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (41.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $246k (18.1% below list).
• Recommended offer: $177k (41.1% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 82/100 on livability (#75 in FL, #1,255 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, crime 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: Grassy Waters Elementary School (math 43% / reading 48%, grade D-, #1,247 of 2,144 statewide, top 59%, 739 students, 64% FRL); Jeaga Middle School (math 18% / reading 30%, grade F, #532 of 571 statewide, top 94%, 941 students, 78% FRL); Palm Beach Lakes High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 2,688 students, 70% FRL) — zoned schools average 71% FRL vs 52% district-wide (19 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 flat; 581 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 32% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $247k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 23% 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 $176,770 (41.1% 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 73 days. Have you received any prior offers? Is the seller open to a 41% 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. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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?
9. 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.
10. 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.
11. 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: 0.82% ✗
• Cap rate: 3.50%
• Cash-on-cash: -9.96%
• DSCR: 0.56
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: 16.7%
• Equity multiple: 2.36×
• Total profit: $114,121
• Equity at exit: $270,173

10-year hold

• IRR: 15.4%
• Equity multiple: 5.31×
• Total profit: $362,084
• Equity at exit: $582,638

Cash invested: $83,972 (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 33411

• Home prices YoY: 1.9%
• Rents YoY: 0.8%
• Active inventory: 581
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,457 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$378 /mo · $4,540/yr
• Insurance: −$125
• HOA: −$562
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $-697

Break-even live

Break-even rent $3,339

Max offer price $176,770

Occupancy floor —

Sensitivity live

Price	-10% $-527	-5% $-612	+0% $-697	+5% $-782	+10% $-867
Rent	-10% $-891	-5% $-794	+0% $-697	+5% $-600	+10% $-503
Rate	-1.0pp $-546	-0.5pp $-621	base $-697	+0.5pp $-775	+1.0pp $-854

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6529 Emerald Dunes Dr Unit 319 Royal Palm Beach, FL	2.0	2.0	1058	$2,000	$1.89	25d	1	0.01mi
6505 Emerald Dunes Dr Unit 315 West Palm Beach, FL	2.0	2.0	1226	$2,000	$1.63	25d	1	0.02mi
6559 Emerald Dunes Dr Royal Palm Beach, FL	1.0–3.0	1.0–2.0	1060	$2,500	$2.36	25d	2	0.05mi
6559 Emerald Dunes Dr Royal Palm Beach, FL	1.0–3.0	1.0–2.0	1060	$2,500	$2.36	0d	3	0.05mi
6533 Emerald Dunes Dr West Palm Beach, FL	2.0	2.0	1058	$2,200	$2.08	4d	2	0.07mi
6482 Emerald Dunes Dr #301 West Palm Beach, FL	2.0	2.0	1058	$2,100	$1.98	9d	1	0.09mi
6482 Emerald Dunes Dr Unit 112 Royal Palm Beach, FL	3.0	2.0	1493	$2,300	$1.54	25d	1	0.09mi
6510 Emerald Dunes Dr #308 West Palm Beach, FL	2.0	2.0	1262	$2,350	$1.86	18d	1	0.09mi
6510 Emerald Dunes Dr #308 West Palm Beach, FL	2.0	2.0	1262	$2,350	$1.86	5d	1	0.09mi
6510 Emerald Dunes Dr West Palm Beach, FL	2.0	2.0	1262	$2,225	$1.76	20d	2	0.10mi
6418 Emerald Dunes Dr #305 West Palm Beach, FL	2.0	2.0	1262	$2,250	$1.78	25d	1	0.12mi
6450 Emerald Dunes Dr #103 West Palm Beach, FL	3.0	2.0	1493	$2,895	$1.94	5d	1	0.13mi
6426 Emerald Dunes Dr #306 West Palm Beach, FL	2.0	2.0	1141	$2,295	$2.01	0d	1	0.14mi
6386 Emerald Dunes Dr West Palm Beach, FL	1.0–3.0	1.0–2.0	1060	$2,650	$2.50	4d	2	0.16mi
6386 Emerald Dunes Dr West Palm Beach, FL	1.0–3.0	1.0–2.0	1060	$2,650	$2.50	16d	2	0.16mi
6386 Emerald Dunes Dr #201 West Palm Beach, FL	3.0	2.0	1381	$2,650	$1.92	25d	1	0.16mi
6410 Emerald Dunes Dr #205 West Palm Beach, FL	2.0	2.0	1058	$2,100	$1.98	25d	1	0.17mi
2905 Hidden Hills Rd #2203 West Palm Beach, FL	2.0	2.5	1086	$2,100	$1.93	25d	1	0.51mi
2912 Hidden Hills Rd #1205 West Palm Beach, FL	3.0	3.0	1423	$2,400	$1.69	25d	1	0.52mi
2904 Hidden Hills Rd Unit 904 West Palm Beach, FL	3.0	2.5	1379	$2,200	$1.60	25d	1	0.53mi
6549 Diamond Springs Ter #2004 West Palm Beach, FL	3.0	2.5	1362	$2,300	$1.69	4d	1	0.56mi
2944 Hidden Hills Rd #1604 West Palm Beach, FL	3.0	3.0	1450	$2,390	$1.65	25d	1	0.56mi
6516 Morgan Hill Trl #1809 West Palm Beach, FL	2.0	2.5	1086	$2,050	$1.89	4d	1	0.59mi
2936 Hidden Hills Rd #1504 West Palm Beach, FL	3.0	3.0	1607	$2,400	$1.49	25d	1	0.60mi
306 Wellington B West Palm Beach, FL	2.0	2.0	1062	$1,800	$1.69	22d	1	0.88mi
105 E Wellington Dr #105 West Palm Beach, FL	2.0	2.0	1062	$1,850	$1.74	25d	1	0.89mi
3130 N Jog Rd West Palm Beach, FL	1.0–3.0	1.0–2.0	1145	$2,893	$2.53	0d	19	0.97mi
7130 Okeechobee Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1086	$2,853	$2.63	0d	8	0.99mi
6767 Duval Ave West Palm Beach, FL	3.0	2.5	1671	$2,750	$1.65	25d	1	1.00mi
1639 Barbarie Ln West Palm Beach, FL	3.0	1.0	1100	$2,400	$2.18	25d	1	1.00mi
6109 Reynolds St West Palm Beach, FL	4.0	2.5	1627	$2,695	$1.66	20d	1	1.01mi
6109 Reynolds St West Palm Beach, FL	4.0	2.5	1627	$2,695	$1.66	25d	1	1.01mi
6245 Saxon Blvd West Palm Beach, FL	4.0	3.0	1350	$3,500	$2.59	12d	1	1.07mi
3472 Commodore Ct West Palm Beach, FL	3.0	2.5	1671	$2,900	$1.74	5d	1	1.10mi
3464 Commodore Ct West Palm Beach, FL	3.0	2.5	1671	$3,300	$1.97	18d	1	1.10mi
149 Stratford N West Palm Beach, FL	2.0	2.0	978	$1,650	$1.69	25d	1	1.19mi
3486 Briar Bay Blvd #101 West Palm Beach, FL	3.0	2.0	1092	$2,600	$2.38	0d	1	1.22mi
1267 Scottsdale Rd S West Palm Beach, FL	3.0	2.0	1695	$4,000	$2.36	25d	1	1.25mi
1267 Scottsdale Rd S West Palm Beach, FL	3.0	2.0	1695	$3,750	$2.21	5d	1	1.25mi
3490 Briar Bay Blvd #104 West Palm Beach, FL	2.0	2.0	883	$1,799	$2.04	15d	1	1.26mi

HOA detail condo

• Monthly dues: $562 · $6,744/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-05-13
   status Pending
2. 2026-05-05
   price $299,899
3. 2026-03-01
   listed $350,000 Active
4. 2026-02-27
   historical $350,000
5. 2008-09-24
   soldstatus $246,925
6. 2007-06-22
   soldstatus $18,224,000

ⓘ 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: $4,540 · $378/mo
• Projected year-2 tax: $4,540 · $378/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,483
• − Mortgage interest: −$16,799
• − Property taxes: −$4,540
• − Insurance: −$1,499
• − Repairs & maintenance: −$2,359
• − Management: −$2,359
• − HOA: −$6,744
• − Depreciation: −$8,724
• Taxable loss: −$13,541
• Est. tax savings @ 24.0%: +$3,250
• After-tax cash flow: $-5,114/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 — West Palm Beach

• Score: 82/100
• State rank: #75
• US rank: #1255

Category grades

Amenities A- Commute A+ Cost of living B- Crime F Employment C- 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
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 76,863
• Household income: $92,591
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 1870.0

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: White 44% Hispanic / Latino 24% Black 23% Two or more races 16% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 4% Dominican 2%
• Common ancestry: Hispanic 6% Romanian 2% Italian 1%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 17% French/Haitian/Cajun 4% 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: ▲ 17.04%
• Current HPI: 903.78
• Rent YoY: ▲ 0.85%
• 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

-98.4% since first listed

6 events — show timeline

• 2026-05-13 Pending — Beaches MLS
• 2026-05-05 Price Changed $299,899 Beaches MLS
• 2026-03-01 Listed $350,000 Beaches MLS
• 2026-02-27 Coming Soon $350,000 Beaches MLS
• 2008-09-24 Sold (Public Records) $246,925 Public Records
• 2007-06-22 Sold (Public Records) $18,224,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $4,540 · +4.6% YoY. Source: county tax records.