2812 S Garden Dr #109 · Palm Springs, FL 33461

$93,000

2 bd · 1.0 ba · 894 sqft · Condo public records · 251 Days on market

Built 1970 $704/mo HOA · 36% 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 +23.9/30.0
• 1% rule +10.0/10.0
• DSCR +7.7/10.0
• 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 MLS

Ready to go, 2 beds, first floor unit in an active 55+ community which features pools, shuffleboard, billiards, activities room, card room and even public transportation. Assigned parking spot per unit. . Easy living in an active area. Close to retail shopping and grocery. Wood look flooring in main living, dining and kitchen, new carpet in both bedrooms. Screen porch looking onto a green space off rear of the unit. Stackable W/ D on rear porch in closet. Accordion shutters close up the sliding glass doors into condo. New paddle fans on porch to cool off those warm nights. Entire new paint job comes complete with this sweet, move right in condo. 1 Assigned parking plus guest.

Key facts

• Fitness center
• First-floor condo
• Stylish kitchen

Tags

• FIRST-FLOOR CONDO
• STYLISH KITCHEN
• UPDATED BATHROOM
• FANTASTIC AMENITIES
• FITNESS CENTER

Property features AI

Finance

• Other: Located in a senior community
• Financial info: Not a pet-friendly community (pets not allowed)
• HOA & community: Has association; Monthly HOA fee; Association amenities: Clubhouse, Fitness Center, Game Room, Picnic Area, Pool, Shuffleboard Court, Manager on Site, Community Room, Sidewalks; HOA covers: Cable TV, Insurance, Grounds maintenance, Trash, Water, Common areas

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; 3 total stories; Resale property; North-facing
• Construction: Brick construction
• Exterior features: Covered patio; Screened patio; Patio

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Split bedroom layout; Sliding windows; Furnished

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $93k.

Deal economics

• At list price, monthly cash flow is $180 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $93k).
• Recommended offer: $82k (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 21d 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 $643 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 251 days — a 12% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 8y ago; this cycle's ask is 5067% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $65k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.
• 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 $81,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 251 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 1970 — 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: 2.08% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.28%
• DSCR: 1.37
• GRM: 4.0

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: -9.8%
• Equity multiple: 0.66×
• Total profit: $-8,844
• Equity at exit: $13,867

10-year hold

• IRR: -11.3%
• Equity multiple: 0.50×
• Total profit: $-13,023
• Equity at exit: $8,041

Cash invested: $26,040 (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: 4.0×

Monthly cashflow live

• Estimated rent: $1,937 high
• Mortgage (P&I): −$488
• Tax from tax record: −$120 /mo · $1,442/yr
• Insurance: −$39
• HOA: −$704
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $180

Break-even live

Break-even rent $1,710

Max offer price $93,000

Occupancy floor 86%

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: $23,250
• Closing costs: $2,790
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2856 Garden Dr S #112 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	24d	1	0.08mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	4d	1	0.20mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	2d	1	0.20mi
2566 Garden Dr S Lake Worth Beach, FL	1.0	1.0	744	$1,395	$1.88	24d	1	0.22mi
2721 Garden Dr N #105 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	21d	1	0.24mi
2901 10th Ave N Palm Springs, FL	2.0	1.0	900	$1,795	$1.99	24d	1	0.28mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	8d	1	0.31mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	15d	1	0.31mi
910 Rudolf Rd Lake Worth, FL	3.0	1.0	1000	$2,500	$2.50	24d	1	0.31mi
2791 S Florida Mango Rd Lake Worth, FL	2.0	2.0	1100	$1,995	$1.81	21d	1	0.33mi
100 Rex Ave Palm Springs, FL	2.0	2.0	1000	$1,850	$1.85	24d	3	0.34mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,672	$2.09	11d	1	0.39mi
2508 10th Ave N Lake Worth Beach, FL	3.0	2.0	1025	$2,557	$2.49	24d	1	0.39mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,746	$2.18	14d	1	0.39mi
3386 Rudolph Rd Lake Worth Beach, FL	2.0	1.0	840	$2,100	$2.50	3d	1	0.39mi
220 Henthorne Dr Palm Springs, FL	1.0–2.0	1.5–2.0	900	$1,850	$2.06	24d	4	0.42mi
124 Abaco Dr Palm Springs, FL	3.0	2.0	988	$2,900	$2.94	15d	1	0.47mi
3440 Rudolph Rd Unit 3440-03 Lake Worth Beach, FL	2.0	2.0	935	$2,100	$2.25	19d	1	0.47mi
3431 Helena Dr Lake Worth, FL	2.0	2.0	935	$2,075	$2.22	14d	2	0.49mi
3431 Helena Dr Unit 3481-11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	24d	1	0.49mi
3481 Helena Dr Unit 11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	24d	1	0.50mi
1065 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,100	$1.91	3d	1	0.54mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,995	$2.90	1d	5	0.54mi
3031 French Ave Lake Worth, FL	3.0	1.0	840	$2,400	$2.86	8d	1	0.55mi
1020 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,200	$2.00	22d	1	0.59mi
3017 Buckley Ave Lake Worth, FL	2.0	1.0	720	$2,200	$3.06	24d	1	0.60mi
1016 Manor Dr Unit 5c Palm Springs, FL	2.0	2.0	1098	$2,256	$2.05	24d	1	0.61mi
3300 Boutwell Rd Lake Worth Beach, FL	1.0–2.0	1.0–2.0	765	$2,720	$3.56	24d	1	0.66mi
1802 Waterview Cir #1802 Palm Springs, FL	2.0	2.0	951	$1,925	$2.02	24d	1	0.75mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,750	$2.06	24d	2	0.95mi
247 Cypress Ln Unit 246-C06 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	24d	1	0.96mi
247 Cypress Ln Unit 246-C12 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	5d	1	0.96mi
2571 Lake Worth Rd Lake Worth, FL	1.0–2.0	1.0–2.0	750	$1,657	$2.21	2d	2	0.97mi
3662 Davis Rd Palm Springs, FL	3.0	2.0	1000	$1,999	$2.00	4d	1	0.97mi
3662 Davis Rd Palm Springs, FL	2.0	2.0	1000	$1,949	$1.95	14d	1	0.97mi
3662 Davis Rd Unit 3664 Palm Springs, FL	3.0	2.0	1000	$1,999	$2.00	8d	1	0.97mi
1742 W Terrace Dr Lake Worth Beach, FL	2.0	1.5	1000	$2,700	$2.70	24d	1	0.97mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,850	$2.24	24d	3	0.98mi
225 Bonnie Blvd Palm Springs, FL	1.0–2.0	1.5–2.0	944	$1,850	$1.96	24d	2	0.99mi
225 Bonnie Blvd #116 Palm Springs, FL	2.0	2.0	988	$1,850	$1.87	19d	1	0.99mi

HOA detail condo

• Monthly dues: $704 · $8,448/yr
• Likely covers: poolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $93,000 Active 251 DOM
2. 2026-06-17
   days on market $93,000 Active 250 DOM
3. 2026-06-16
   days on market $93,000 Active 249 DOM
4. 2026-06-15
   days on market $93,000 Active 248 DOM
5. 2026-06-13
   days on market $93,000 Active 246 DOM
6. 2026-06-09
   days on market $93,000 Active 242 DOM
7. 2026-06-07
   days on market $93,000 Active 240 DOM
8. 2026-06-04
   days on market $93,000 Active 237 DOM
9. 2026-06-03
   days on market $93,000 Active 236 DOM
10. 2026-06-01
    days on market $93,000 Active 234 DOM
11. 2026-05-31
    days on market $93,000 Active 233 DOM
12. 2026-04-22
    price $93,000
13. 2026-04-09
    listed $1,800
14. 2026-03-31
    historical $1,800
15. 2025-10-11
    listed $1,800
16. 2025-10-10
    listed $98,000 Active
17. 2024-12-13
    historical
18. 2024-08-20
    listed $119,000 Active
19. 2020-11-20
    soldstatus $65,000 Closed 684-char remark

    Show marketing remark (684 chars)

    Ready to go, 2 beds, first floor unit in an active 55+ community which features pools, shuffleboard, billiards, activities room, card room and even public transportation. Assigned parking spot per unit. . Easy living in an active area. Close to retail shopping and grocery. Wood look flooring in main living, dining and kitchen, new carpet in both bedrooms. Screen porch looking onto a green space off rear of the unit. Stackable W/ D on rear porch in closet. Accordion shutters close up the sliding glass doors into condo. New paddle fans on porch to cool off those warm nights. Entire new paint job comes complete with this sweet, move right in condo. 1 Assigned parking plus guest.

20. 2020-10-16
    historical Contingent 684-char remark

    Show marketing remark (684 chars)

    Ready to go, 2 beds, first floor unit in an active 55+ community which features pools, shuffleboard, billiards, activities room, card room and even public transportation. Assigned parking spot per unit. . Easy living in an active area. Close to retail shopping and grocery. Wood look flooring in main living, dining and kitchen, new carpet in both bedrooms. Screen porch looking onto a green space off rear of the unit. Stackable W/ D on rear porch in closet. Accordion shutters close up the sliding glass doors into condo. New paddle fans on porch to cool off those warm nights. Entire new paint job comes complete with this sweet, move right in condo. 1 Assigned parking plus guest.

21. 2020-08-24
    price $67,000 684-char remark

    Show marketing remark (684 chars)

    Ready to go, 2 beds, first floor unit in an active 55+ community which features pools, shuffleboard, billiards, activities room, card room and even public transportation. Assigned parking spot per unit. . Easy living in an active area. Close to retail shopping and grocery. Wood look flooring in main living, dining and kitchen, new carpet in both bedrooms. Screen porch looking onto a green space off rear of the unit. Stackable W/ D on rear porch in closet. Accordion shutters close up the sliding glass doors into condo. New paddle fans on porch to cool off those warm nights. Entire new paint job comes complete with this sweet, move right in condo. 1 Assigned parking plus guest.

22. 2020-08-13
    listed $74,900 Active 684-char remark

    Show marketing remark (684 chars)

    Ready to go, 2 beds, first floor unit in an active 55+ community which features pools, shuffleboard, billiards, activities room, card room and even public transportation. Assigned parking spot per unit. . Easy living in an active area. Close to retail shopping and grocery. Wood look flooring in main living, dining and kitchen, new carpet in both bedrooms. Screen porch looking onto a green space off rear of the unit. Stackable W/ D on rear porch in closet. Accordion shutters close up the sliding glass doors into condo. New paddle fans on porch to cool off those warm nights. Entire new paint job comes complete with this sweet, move right in condo. 1 Assigned parking plus guest.

23. 2019-05-31
    soldstatus $50,000
24. 2019-05-29
    soldstatus $50,000 Closed
25. 2019-05-19
    status Pending
26. 2019-04-24
    status Active
27. 2019-04-11
    historical
28. 2018-08-02
    status Active
29. 2018-07-21
    historical Active Under Contract
30. 2018-07-19
    status Pending
31. 2018-05-30
    status Active
32. 2018-04-28
    historical Contingent
33. 2018-04-11
    listed $54,500 Active

ⓘ 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: $1,442 · $120/mo
• Projected year-2 tax: $1,442 · $120/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 · 26 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: $23,243
• − Mortgage interest: −$5,209
• − Property taxes: −$1,442
• − Insurance: −$465
• − Repairs & maintenance: −$1,859
• − Management: −$1,859
• − HOA: −$8,448
• − Depreciation: −$2,705
• Taxable income: $1,255
• Est. tax owed @ 24.0%: −$301
• After-tax cash flow: $1,854/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

• 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

+70.6% since first listed

22 events — show timeline

• 2026-04-22 Price Changed $93,000 Beaches MLS
• 2026-04-09 Listed for Rent $1,800 RMLSFL
• 2026-03-31 Rental Removed $1,800 RMLSFL
• 2025-10-11 Listed for Rent $1,800 RMLSFL
• 2025-10-10 Listed $98,000 Beaches MLS
• 2024-12-13 Listing Removed — Beaches MLS
• 2024-08-20 Listed $119,000 Beaches MLS
• 2020-11-20 Sold (MLS) $65,000 Beaches MLS
• 2020-10-16 Contingent — Beaches MLS
• 2020-08-24 Price Changed $67,000 Beaches MLS
• 2020-08-13 Listed $74,900 Beaches MLS
• 2019-05-31 Sold (Public Records) $50,000 Public Records
• 2019-05-29 Sold (MLS) $50,000 Beaches MLS
• 2019-05-19 Pending — Beaches MLS
• 2019-04-24 Relisted — Beaches MLS
• 2019-04-11 Listing Removed — Beaches MLS
• 2018-08-02 Relisted — Beaches MLS
• 2018-07-21 Contingent — Beaches MLS
• 2018-07-19 Pending — Beaches MLS
• 2018-05-30 Relisted — Beaches MLS
• 2018-04-28 Contingent — Beaches MLS
• 2018-04-11 Listed $54,500 Beaches MLS

Property tax history

+5.7%/yr

Latest (2025): $1,442 · -10.0% YoY. Source: county tax records.