2606 Garden Dr S #107 · Palm Springs, FL 33461

$30,000

1 bd · 1.0 ba · 744 sqft · Condo public records · 55 Days on market

Built 1969 $540/mo HOA · 33% 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

1-bedroom, 1-bathroom condo in a 55+ community. It needs a little work but offers a solid layout and excellent opportunity for customization in a desirable community, and easy access to I-95.

Key facts

• $540 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Part of a large community with 856 units; Pets not allowed
• HOA & community: Community association (Lake Clarke Gardens Condo, Inc.); Monthly association fee; Association amenities include clubhouse and pool; HOA fee covers insurance, grounds maintenance, sewer, trash, water, common areas, elevator, and recreation facility

Exterior

• Parking: Assigned, deeded open parking; 10 open parking spaces; Total of 1 parking space listed
• Security: Security patrol
• Utilities: Public water; Public sewer; Circuit breaker electrical; Cable available; Underground utilities; Water available; Sewer available
• Home design: Condominium; One-level unit; Faces north; Resale
• Construction: CBS construction; Tar/gravel roof; 3-story building
• Exterior features: Screened patio and screened porch; Patio; Porch; Landscaped grounds; Not waterfront

Interior

• Kitchen: Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Dome kitchen; Unfurnished
• Laundry & utility: Electric water heater; Laundry: Other

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $30k.

Deal economics

• At list price, monthly cash flow is $546 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $29k (3.0% 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+, 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.
• Zoned schools: Meadow Park Elementary School (math 64% / reading 73%, grade B+, #409 of 2,144 statewide, top 20%, 809 students, 65% FRL); Forest Hill Community High School (math 20% / reading 41%, grade F, #434 of 667 statewide, top 66%, 2,407 students, 66% FRL).
• Market conditions: Rents soft (-2.5%/yr); 274 active listings in the ZIP; 28 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 31% 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 $207 of loan paydown is wiped out by about $900 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 29y ago; this cycle's ask has dropped $20k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 33% 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 $29,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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. 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. 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?
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: 5.40% ✓
• Cap rate: 28.13%
• Cash-on-cash: 78.00%
• DSCR: 4.47
• GRM: 1.5

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: 72.5%
• Equity multiple: 4.04×
• Total profit: $25,511
• Equity at exit: $4,473

10-year hold

• IRR: 75.0%
• Equity multiple: 6.96×
• Total profit: $50,050
• Equity at exit: $2,594

Cash invested: $8,400 (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: 1.5×

Monthly cashflow live

• Estimated rent: $1,621 high
• Mortgage (P&I): −$157
• Tax from tax record: −$25 /mo · $296/yr
• Insurance: −$12
• HOA: −$540
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $546

Break-even live

Break-even rent $930

Max offer price $30,000

Occupancy floor 61%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2566 Garden Dr S Lake Worth Beach, FL	1.0	1.0	744	$1,395	$1.88	24d	1	0.05mi
3260 Hi St Unit B Lake Worth Beach, FL	1.0	1.0	400	$1,700	$4.25	24d	1	0.35mi
3300 Boutwell Rd Lake Worth Beach, FL	1.0–2.0	1.0–2.0	765	$1,870	$2.44	24d	1	0.51mi
3017 Buckley Ave Lake Worth, FL	2.0	1.0	720	$2,200	$3.06	24d	1	0.63mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,722	$2.51	1d	5	0.70mi
1765 16th Ct N Lake Worth Beach, FL	—	1.0	450	$1,700	$3.78	24d	1	0.94mi
2571 Lake Worth Rd Lake Worth, FL	1.0–2.0	1.0–2.0	750	$1,378	$1.84	2d	2	0.95mi
1755 Forest Hill Blvd Lake Clarke Shores, FL	1.0	1.0	662	$1,595	$2.41	8d	1	0.99mi
2220 Lake Worth Rd Lake Worth, FL	1.0	1.0	700	$1,779	$2.54	22d	1	1.04mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,055	$2.13	2d	14	1.08mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,550	$1.82	24d	2	1.08mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,650	$2.00	24d	3	1.10mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	22d	1	1.14mi
3654 Coconut Rd Palm Springs, FL	1.0	1.0	600	$1,500	$2.50	24d	1	1.18mi
300 Bonnie Blvd #144 Palm Springs, FL	1.0	1.0	702	$1,350	$1.92	24d	1	1.19mi
3901 Lakewood Rd Unit A Lake Worth Beach, FL	2.0	1.0	704	$2,000	$2.84	24d	1	1.25mi
1201 N E St Unit 2 Lake Worth Beach, FL	1.0	1.0	600	$1,500	$2.50	24d	1	1.30mi
123 Erie St Apt 10 Lake Worth, FL	1.0	1.0	600	$1,325	$2.21	24d	1	1.32mi
136 Akron St Apt B2 Lake Worth Beach, FL	1.0	1.0	599	$2,175	$3.63	24d	1	1.33mi
136 Akron St Unit A1 Lake Worth Beach, FL	1.0	1.0	599	$2,075	$3.46	24d	1	1.33mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,375	$2.50	22d	1	1.35mi
436 Fontana Dr Lake Worth, FL	1.0	1.0	550	$1,450	$2.64	24d	1	1.35mi
3874 7th Ave N Unit 3878 Lake Worth Beach, FL	1.0	1.0	528	$1,600	$3.03	24d	1	1.38mi
3890 Lakewood Rd #1 Lake Worth, FL	1.0	1.0	433	$1,500	$3.46	11d	1	1.46mi
417 N E St Unit 39 Lake Worth Beach, FL	1.0	1.0	700	$1,550	$2.21	24d	1	1.48mi
417 N E St Unit 36 Lake Worth Beach, FL	1.0	1.0	650	$1,550	$2.38	12d	1	1.48mi
413 N E St Lake Worth Beach, FL	2.0	1.0	646	$2,000	$3.10	24d	1	1.49mi
3901 Gulfstream Rd Unit 2 B Lake Worth Beach, FL	1.0	1.0	450	$1,700	$3.78	21d	1	1.49mi

HOA detail condo

• Monthly dues: $540 · $6,480/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-18
   days on market $30,000 Active 55 DOM
2. 2026-06-17
   days on market $30,000 Active 54 DOM
3. 2026-06-16
   days on market $30,000 Active 53 DOM
4. 2026-06-15
   days on market $30,000 Active 52 DOM
5. 2026-06-13
   days on market $30,000 Active 50 DOM
6. 2026-06-10
   price $30,000 Active 46 DOM
7. 2026-06-09
   days on market $40,000 Active 46 DOM
8. 2026-06-08
   days on market $40,000 Active 45 DOM
9. 2026-06-07
   days on market $40,000 Active 44 DOM
10. 2026-06-04
    days on market $40,000 Active 41 DOM
11. 2026-06-03
    days on market $40,000 Active 40 DOM
12. 2026-06-02
    days on market $40,000 Active 39 DOM
13. 2026-06-01
    days on market $40,000 Active 38 DOM
14. 2026-05-31
    days on market $40,000 Active 37 DOM
15. 2026-05-13
    price $40,000
16. 2026-04-24
    historical
17. 2026-04-21
    listed $49,900 Active
18. 2026-04-09
    listed $49,900 Active
19. 2019-06-18
    historical
20. 2019-05-07
    listed $55,000 Active
21. 2000-10-19
    soldstatus $30,000
22. 2000-10-02
    soldstatus $30,000
23. 2000-08-27
    historical
24. 2000-08-23
    listed $32,000
25. 1999-06-15
    soldstatus $24,000
26. 1999-06-10
    soldstatus $24,500
27. 1999-05-11
    listed $27,000
28. 1998-04-28
    historical
29. 1997-12-18
    listed $29,000
30. 1995-03-10
    soldstatus $28,000

ⓘ 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: $296 · $25/mo
• Projected year-2 tax: $296 · $25/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: $19,449
• − Mortgage interest: −$1,680
• − Property taxes: −$296
• − Insurance: −$150
• − Repairs & maintenance: −$1,556
• − Management: −$1,556
• − HOA: −$6,480
• − Depreciation: −$873
• Taxable income: $6,859
• Est. tax owed @ 24.0%: −$1,646
• After-tax cash flow: $4,906/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

+42.9% since first listed

16 events — show timeline

• 2026-05-13 Price Changed $40,000 Beaches MLS
• 2026-04-24 Listing Removed — Beaches MLS
• 2026-04-21 Listed $49,900 Beaches MLS
• 2026-04-09 Listed $49,900 Beaches MLS
• 2019-06-18 Listing Removed — Beaches MLS
• 2019-05-07 Listed $55,000 Beaches MLS
• 2000-10-19 Sold (Public Records) $30,000 Public Records
• 2000-10-02 Sold (MLS) $30,000 Beaches MLS
• 2000-08-27 Listing Removed — Beaches MLS
• 2000-08-23 Listed $32,000 Beaches MLS
• 1999-06-15 Sold (Public Records) $24,000 Public Records
• 1999-06-10 Sold (MLS) $24,500 Beaches MLS
• 1999-05-11 Listed $27,000 Beaches MLS
• 1998-04-28 Listing Removed — Beaches MLS
• 1997-12-18 Listed $29,000 Beaches MLS
• 1995-03-10 Sold (Public Records) $28,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $296 · +3.1% YoY. Source: county tax records.