2562 Garden Dr N #202 · Lake Clarke Shores, FL 33461

$70,000

2 bd · 1.0 ba · 894 sqft · Condo public records · 1 Days on market

Built 1966 $676/mo HOA · 36% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Come see this wonderful 2 bedroom / 1 bathroom move in ready corner unit in the HOPA community of Lake Clarke Gardens! As you enter you will notice the neutral tile and paint throughout. The kitchen has updated wood cabinets, stainless appliances, stone counters and a tiled backsplash. The bathroom has been updated and both bedrooms are spacious with plenty of closet space. The screened balcony is perfect for sipping your morning coffee or reading a book. The unit is located near the entrance and across from the clubhouse and community pool. Parking right outside your unit, with plenty of additional guest parking! Lake Clarke Gardens features many amenities such as two pools, saunas, BBQ ar

Key facts

• Tiled backsplash
• Stainless appliances
• Screened balcony

Tags

• CORNER UNIT
• UPDATED WOOD CABINETS
• STAINLESS APPLIANCES
• STONE COUNTERS
• TILED BACKSPLASH
• SCREENED BALCONY

Property features AI

Finance

• Financial info: Pets not allowed; Is a senior community
• HOA & community: Monthly association fee; Association amenities include: billiard room, clubhouse, elevators, fitness center, laundry, on-site management, parking, pool, shuffleboard court, spa/hot tub, manager on site, bocce ball, community room, courtesy bus; Association fee covers insurance, grounds maintenance, sewer, water, common areas, elevator, and recreation facility

Exterior

• Parking: 1 dedicated parking space; Guest parking
• Utilities: Public water; Public sewer; Electricity available
• Home design: Condominium; Resale property; Building has 3 stories; Faces southwest; Entry level unit (main level)
• Construction: Built with CBS and other materials; Other roof
• Exterior features: Not waterfront; Asphalt driveway or parking area; Guest parking

Interior

• Kitchen: Electric range; Microwave
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Heating present (other); Central air; Ceiling fans
• Interior features: Stacked bedroom layout; Other window features
• Laundry & utility: Community laundry available

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).

Location & tenants

• Location reads 81/100 on livability (#98 in FL, #1,445 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 36% 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 $484 of loan paydown is wiped out by about $2k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $41k; list at $70k implies a 71% gain — meaningful room to come down on a strong offer.

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 $70,000

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 2.67% ✓
• Cap rate: 11.19%
• Cash-on-cash: 17.50%
• DSCR: 1.78
• GRM: 3.1

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: 2.6%
• Equity multiple: 1.09×
• Total profit: $1,844
• Equity at exit: $10,437

10-year hold

• IRR: 5.4%
• Equity multiple: 1.29×
• Total profit: $5,742
• Equity at exit: $6,052

Cash invested: $19,600 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,871 high
• Mortgage (P&I): −$367
• Tax from tax record: −$120 /mo · $1,442/yr
• Insurance: −$29
• HOA: −$676
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $286

Break-even live

Break-even rent $1,509

Max offer price $70,000

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2791 S Florida Mango Rd Lake Worth, FL	2.0	2.0	1100	$1,995	$1.81	20d	1	0.07mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	7d	1	0.09mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	14d	1	0.09mi
2566 Garden Dr S Lake Worth Beach, FL	1.0	1.0	744	$1,395	$1.88	24d	1	0.11mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	1d	1	0.14mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	3d	1	0.14mi
2721 Garden Dr N #105 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	20d	1	0.21mi
2856 Garden Dr S #112 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	24d	1	0.33mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,746	$2.18	13d	1	0.43mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,672	$2.09	10d	1	0.43mi
2508 10th Ave N Lake Worth Beach, FL	3.0	2.0	1025	$2,557	$2.49	24d	1	0.43mi
910 Rudolf Rd Lake Worth, FL	3.0	1.0	1000	$2,500	$2.50	24d	1	0.48mi
2901 10th Ave N Palm Springs, FL	2.0	1.0	900	$1,795	$1.99	24d	1	0.53mi
3386 Rudolph Rd Lake Worth Beach, FL	2.0	1.0	840	$2,100	$2.50	2d	1	0.55mi
100 Rex Ave Palm Springs, FL	2.0	2.0	1000	$1,850	$1.85	24d	3	0.58mi
3300 Boutwell Rd Lake Worth Beach, FL	1.0–2.0	1.0–2.0	765	$2,720	$3.56	24d	1	0.58mi
3440 Rudolph Rd Unit 3440-03 Lake Worth Beach, FL	2.0	2.0	935	$2,100	$2.25	18d	1	0.63mi
3431 Helena Dr Unit 3481-11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	24d	1	0.63mi
3431 Helena Dr Lake Worth, FL	2.0	2.0	935	$2,075	$2.22	13d	2	0.63mi
3481 Helena Dr Unit 11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	24d	1	0.65mi
220 Henthorne Dr Palm Springs, FL	1.0–2.0	1.5–2.0	900	$1,850	$2.06	24d	4	0.67mi
1742 W Terrace Dr Lake Worth Beach, FL	2.0	1.5	1000	$2,700	$2.70	24d	1	0.69mi
3031 French Ave Lake Worth, FL	3.0	1.0	840	$2,400	$2.86	7d	1	0.75mi
124 Abaco Dr Palm Springs, FL	3.0	2.0	988	$2,900	$2.94	15d	1	0.75mi
3017 Buckley Ave Lake Worth, FL	2.0	1.0	720	$2,200	$3.06	24d	1	0.78mi
1065 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,100	$1.91	2d	1	0.81mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,995	$2.90	1d	5	0.82mi
1755 Forest Hill Blvd Lake Clarke Shores, FL	1.0	1.0	662	$1,595	$2.41	7d	1	0.84mi
1020 Manor Dr Palm Springs, FL	2.0	2.0	1098	$2,200	$2.00	21d	1	0.87mi
1016 Manor Dr Unit 5c Palm Springs, FL	2.0	2.0	1098	$2,256	$2.05	24d	1	0.88mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,558	$2.65	1d	14	0.98mi
225 Bonnie Blvd Palm Springs, FL	1.0–2.0	1.5–2.0	944	$1,850	$1.96	24d	2	1.02mi
225 Bonnie Blvd #116 Palm Springs, FL	2.0	2.0	988	$1,850	$1.87	18d	1	1.02mi
1802 Waterview Cir #1802 Palm Springs, FL	2.0	2.0	951	$1,925	$2.02	24d	1	1.03mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,750	$2.06	24d	2	1.05mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,850	$2.24	24d	3	1.06mi
247 Cypress Ln Unit 246-C06 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	24d	1	1.06mi
247 Cypress Ln Unit 246-C12 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	4d	1	1.06mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	21d	1	1.10mi
2571 Lake Worth Rd Lake Worth, FL	1.0–2.0	1.0–2.0	750	$1,657	$2.21	1d	2	1.10mi

HOA detail condo

• Monthly dues: $676 · $8,112/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $70,000 Active 1 DOM

ⓘ 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: $22,455
• − Mortgage interest: −$3,921
• − Property taxes: −$1,442
• − Insurance: −$350
• − Repairs & maintenance: −$1,796
• − Management: −$1,796
• − HOA: −$8,112
• − Depreciation: −$2,036
• Taxable income: $3,001
• Est. tax owed @ 24.0%: −$720
• After-tax cash flow: $2,710/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 — Lake Clarke Shores

• Score: 81/100
• State rank: #98
• US rank: #1445

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ 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
• 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

+200.4% since first listed

5 events — show timeline

• 2026-06-18 Relisted — Beaches MLS
• 2026-06-18 Listing Removed — Beaches MLS
• 2026-06-18 Listed $70,000 Beaches MLS
• 1984-06-01 Sold (Public Records) $41,000 Public Records
• 1973-01-01 Sold (Public Records) $23,300 Public Records

Property tax history

+14.6%/yr

Latest (2025): $1,442 · -28.0% YoY. Source: county tax records.