555 Purdy Ln #203 · Palm Springs, FL 33461

$119,999

2 bd · 1.5 ba · 836 sqft · Condo public records · 305 Days on market

Built 1973 $427/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 +25.2/30.0
• 1% rule +10.0/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Age 55 plus offering in centrally located Palm Springs. Condo boasts tile floors throughout and remodeled bathrooms. New front door, New refrigerator and new A/C are some pluses of this unit. Tenant occupied now but will vacate for a sale to owner occupant or stay for investor buyer. No waiting to rent this condo.

Key facts

• Tile floors
• New refrigerator
• New front door

Tags

• TILE FLOORS
• REMODELED BATHROOMS
• NEW FRONT DOOR
• NEW REFRIGERATOR
• NEW AC

Property features AI

Finance

• Financial info: Not pet-friendly (pets not allowed); Senior community
• HOA & community: Has association; Monthly association fee; Association amenities include: pool, fitness center, clubhouse, billiard room, community room, business center, elevator(s), laundry, trash chute, bike storage, putting green, shuffleboard court

Exterior

• Parking: Assigned parking; 9 open parking spaces
• Security: Security guard
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Multi/split levels; North-facing; 3 total stories; Resale property
• Construction: CBS construction; Built-up roof; Building name: 555
• Exterior features: Patio; Public road frontage (east of US-1); Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Electric water heater
• Bedrooms: Two main-level bedrooms
• Flooring: Ceramic tile; Unfurnished
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Custom mirrors; Casement and sliding windows
• Laundry & utility: Laundry available in building

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#297 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D+, schools 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 soft (-2.5%/yr); 274 active listings in the ZIP; 40 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).
• This rent runs 38% of the median local income ($62k/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 $829 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

• It's been on market 305 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $50k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; list at $120k implies a 220% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,599 (12.0% below list)

Questions for the listing agent

1. It's been on market 305 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 1.64% ✓
• Cap rate: 8.98%
• Cash-on-cash: 9.61%
• DSCR: 1.43
• GRM: 5.1

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: -6.5%
• Equity multiple: 0.77×
• Total profit: $-7,769
• Equity at exit: $17,892

10-year hold

• IRR: -3.2%
• Equity multiple: 0.83×
• Total profit: $-5,748
• Equity at exit: $10,375

Cash invested: $33,600 (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 33461

• Rents YoY: -2.5%
• Active inventory: 274
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,971 high
• Mortgage (P&I): −$629
• Tax from tax record: −$181 /mo · $2,176/yr
• Insurance: −$50
• HOA: −$427
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $269

Break-even live

Break-even rent $1,630

Max offer price $119,999

Occupancy floor 81%

Sensitivity live

Price	-10% $337	-5% $303	+0% $269	+5% $235	+10% $201
Rent	-10% $113	-5% $191	+0% $269	+5% $347	+10% $425
Rate	-1.0pp $330	-0.5pp $300	base $269	+0.5pp $238	+1.0pp $206

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Village Green Cir W #107 Palm Springs, FL	2.0	1.5	836	$1,850	$2.21	22d	1	0.06mi
500 Village Green Cir W #214 Palm Springs, FL	1.0	1.5	764	$1,400	$1.83	2d	1	0.06mi
500 Village Green Cir W Palm Springs, FL	1.0–2.0	1.0–1.5	739	$1,850	$2.50	25d	2	0.07mi
500 Village Green Cir W Palm Springs, FL	1.0–2.0	1.5	800	$1,850	$2.31	17d	2	0.07mi
555 Purdy Ln Palm Springs, FL	1.0	1.0	650	$1,375	$2.12	6d	1	0.07mi
555 Kirk Rd Palm Springs, FL	1.0	1.0	670	$2,352	$3.51	14d	1	0.10mi
555 Kirk Rd Palm Springs, FL	1.0	1.0	625	$2,268	$3.63	8d	1	0.10mi
555 Kirk Rd Palm Springs, FL	2.0	2.0	875	$2,749	$3.14	13d	1	0.10mi
555 Kirk Rd Palm Springs, FL	2.0	2.0	875	$3,194	$3.65	22d	1	0.10mi
600 Village Green Ct #203 Palm Springs, FL	1.0	1.0	650	$1,300	$2.00	4d	1	0.14mi
2200 Springdale Blvd #214 Palm Springs, FL	1.0	1.5	756	$1,550	$2.05	3d	1	0.16mi
700 Village Green Ct Palm Springs, FL	1.0–2.0	1.5	796	$1,800	$2.26	2d	3	0.18mi
400 Village Green Cir W #214 Palm Springs, FL	1.0	1.5	764	$1,400	$1.83	25d	1	0.18mi
4403 Anna Ln Unit B Palm Springs, FL	1.0	1.0	740	$1,600	$2.16	8d	1	0.31mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,375	$2.50	22d	1	0.35mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,450	$2.64	24d	1	0.35mi
4098 Linda Ln West Palm Beach, FL	2.0	1.0	860	$2,465	$2.87	25d	1	0.46mi
4591 Purdy Ln Unit 1 West Palm Beach, FL	2.0	1.0	900	$2,350	$2.61	25d	1	0.49mi
4591 Purdy Ln Unit 2 West Palm Beach, FL	3.0	2.0	850	$3,000	$3.53	25d	1	0.50mi
441 San Mateo Dr Palm Springs, FL	3.0	2.0	1092	$3,000	$2.75	25d	1	0.53mi
484 Springdale Cir Unit 48d Palm Springs, FL	2.0	2.0	1102	$2,100	$1.91	17d	1	0.57mi
2785 Reo Ln Unit 2 Lake Worth Beach, FL	2.0	1.0	884	$2,300	$2.60	25d	1	0.58mi
300 Bonnie Blvd #144 Palm Springs, FL	1.0	1.0	702	$1,350	$1.92	25d	1	0.62mi
502 Davis Rd Palm Springs, FL	2.0	1.0–2.0	878	$1,675	$1.91	6d	2	0.65mi
506 Davis Rd Unit 6 Palm Springs, FL	2.0	2.0	958	$1,700	$1.77	25d	1	0.66mi
500 Bonnie Blvd #165 Palm Springs, FL	1.0	1.5	782	$1,350	$1.73	25d	1	0.66mi
247 Cypress Ln Unit 246-C12 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	5d	1	0.66mi
247 Cypress Ln Unit 246-C06 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	25d	1	0.66mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	22d	1	0.67mi
504 Davis Rd #96 Palm Springs, FL	2.0	2.0	1080	$2,000	$1.85	25d	1	0.67mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,750	$2.06	25d	2	0.68mi
2255 Ida Way West Palm Beach, FL	2.0	2.0	948	$2,200	$2.32	25d	1	0.69mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,850	$2.24	25d	3	0.70mi
701 Lori Dr #204 Palm Springs, FL	2.0	2.0	994	$1,700	$1.71	25d	1	0.73mi
225 Bonnie Blvd #116 Palm Springs, FL	2.0	2.0	988	$1,850	$1.87	19d	1	0.85mi
225 Bonnie Blvd Palm Springs, FL	1.0–2.0	1.5–2.0	944	$1,850	$1.96	25d	2	0.85mi
2966 Ashley Dr E Unit C West Palm Beach, FL	1.0	1.0	611	$1,375	$2.25	25d	1	1.04mi
3263 Kirk Rd #2 Lake Worth, FL	1.0	1.0	619	$1,650	$2.67	25d	1	1.05mi
3263 Kirk Rd #2 Lake Worth, FL	1.0	1.0	619	$1,650	$2.67	8d	1	1.05mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,558	$2.65	2d	14	1.07mi

HOA detail condo

• Monthly dues: $427 · $5,124/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $119,999 Active 305 DOM
2. 2026-06-17
   days on market $119,999 Active 304 DOM
3. 2026-06-16
   days on market $119,999 Active 303 DOM
4. 2026-06-15
   days on market $119,999 Active 302 DOM
5. 2026-06-13
   days on market $119,999 Active 300 DOM
6. 2026-06-09
   days on market $119,999 Active 296 DOM
7. 2026-06-07
   days on market $119,999 Active 294 DOM
8. 2026-06-04
   days on market $119,999 Active 291 DOM
9. 2026-06-03
   days on market $119,999 Active 290 DOM
10. 2026-06-01
    days on market $119,999 Active 288 DOM
11. 2026-05-31
    days on market $119,999 Active 287 DOM
12. 2026-04-08
    price $119,999
13. 2026-03-23
    price $124,900
14. 2026-03-19
    price $135,000
15. 2026-01-26
    price $139,999
16. 2025-12-31
    price $155,000
17. 2025-10-25
    price $159,999
18. 2025-08-16
    listed $170,000 Active
19. 2013-05-24
    soldstatus $37,500
20. 2013-05-13
    historical Contingent
21. 2013-04-03
    listed $40,000 New
22. 2001-02-28
    soldstatus $31,500
23. 1985-07-01
    soldstatus $33,500
24. 1981-01-01
    soldstatus $38,500

ⓘ 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: $2,176 · $181/mo
• Projected year-2 tax: $2,176 · $181/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 💨 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: $23,647
• − Mortgage interest: −$6,722
• − Property taxes: −$2,176
• − Insurance: −$600
• − Repairs & maintenance: −$1,892
• − Management: −$1,892
• − HOA: −$5,124
• − Depreciation: −$3,491
• Taxable income: $1,750
• Est. tax owed @ 24.0%: −$420
• After-tax cash flow: $2,809/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 — Palm Springs

• Score: 73/100
• State rank: #297
• US rank: #5045

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Springs, FL
• County: Palm Beach County · 1,438,312 people
• City population: 49,443
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 49,443
• Household income: $61,963
• Rent vs Own: 48.2% rent · 51.8% own
• Severe rent burden: 2663.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 59% Two or more races 26% White 20% Black 17% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 6% Cuban 16% Dominican 2%
• Common ancestry: Hispanic 9% Romanian 1% Lithuanian 1%
• Foreign-born: 52% · Canada, Jamaica
• Languages at home: 31% English-only · Spanish 54% French/Haitian/Cajun 10% 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: ▼ -269.03%
• Current HPI: 493.0041
• Rent YoY: ▼ -2.47%
• 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

+211.7% since first listed

13 events — show timeline

• 2026-04-08 Price Changed $119,999 Beaches MLS
• 2026-03-23 Price Changed $124,900 Beaches MLS
• 2026-03-19 Price Changed $135,000 Beaches MLS
• 2026-01-26 Price Changed $139,999 Beaches MLS
• 2025-12-31 Price Changed $155,000 Beaches MLS
• 2025-10-25 Price Changed $159,999 Beaches MLS
• 2025-08-16 Listed $170,000 Beaches MLS
• 2013-05-24 Sold (Public Records) $37,500 Public Records
• 2013-05-13 Contingent — Beaches MLS
• 2013-04-03 Listed $40,000 Beaches MLS
• 2001-02-28 Sold (Public Records) $31,500 Public Records
• 1985-07-01 Sold (Public Records) $33,500 Public Records
• 1981-01-01 Sold (Public Records) $38,500 Public Records

Property tax history

+7.1%/yr

Latest (2025): $2,176 · +4.5% YoY. Source: county tax records.