13554 Spruce Pine Dr · Westlake, FL 33470

$565,000

3 bd · 2.0 ba · 1,671 sqft · SingleFamily public records · 59 Days on market

Built 2024 Good condition Est $632k · 11% under $120/mo HOA · 2% 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).

• ARV discount +12.2/15.0
• Cash flow +10.2/30.0
• Rent growth +4.4/5.0
• Schools +4.3/10.0
• Condition / age +4.0/5.0
• 1% rule +3.6/10.0
• DSCR +2.9/10.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This Cassia model offers 3 bedrooms and 2 bathrooms with a functional, open layout designed for comfortable everyday living and easy entertaining. The main living areas feature upgraded flooring, while the bedrooms are finished with carpet for added comfort. The kitchen is well-appointed with upgraded quartz countertops, a wall oven, electric cooktop, and ample space for cooking and gathering. Additional highlights include impact windows for added peace of mind and energy efficiency. The outdoor space has been expanded with an extended screened lanai, combining a covered area with additional open space to enjoy the peaceful lake view. Built in 2024, this almost-new home is located in the so

Key facts

• Upgraded flooring
• Open layout
• Peaceful lake view

Tags

• OPEN LAYOUT
• UPGRADED FLOORING
• UPGRADED QUARTZ COUNTERTOPS
• IMPACT WINDOWS
• EXTENDED SCREENED LANAI
• PEACEFUL LAKE VIEW

Property features AI

Finance

• HOA & community: Community amenities include basketball court, clubhouse, dog park, jogging path, park, picnic area, playground, pool (heated), trails, cafe/restaurant, sidewalks, street lights and recreation facilities; HOA fee approximately $120 monthly (includes common areas)

Exterior

• Parking: Attached 2-car garage; Driveway with paver block; 2 additional open parking spaces (4 total parking spaces)
• Security: Smoke detectors; Security system; Entry phone/intercom; Gated community (no guard)
• Utilities: Public water; Public sewer; Electricity available; Natural gas available
• Home design: Single family residence; One story; Resale; South-facing
• Construction: Built with stucco and CBS; Concrete and tile roof
• Exterior features: Screened patio; Patio; Not waterfront

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric cooktop; Freezer
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: High ceilings; Kitchen island; French doors
• Laundry & utility: Laundry room inside on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $565k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-322 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $508k (10.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $486k (14.0% below list).
• Recommended offer: $486k (14.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Golden Grove Elementary School (math 63% / reading 69%, grade B+, #492 of 2,144 statewide, top 23%, 760 students, 43% FRL); Osceola Creek Middle School (math 53% / reading 54%, grade C+, #205 of 571 statewide, top 36%, 835 students, 41% FRL); Seminole Ridge Community High School (math 36% / reading 56%, grade D-, #220 of 667 statewide, top 33%, 2,262 students, 36% FRL).
• Market conditions: Rents rising fast (+7.7%/yr); 599 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $4,861/mo this rent would consume 48% of the median local household income ($122k/yr) (locally 43% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k 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 59 days — a 3% lower offer ($548k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Recommended offer $486,122 (14.0% 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 59 days. Have you received any prior offers? Is the seller open to a 14% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 5.61%
• Cash-on-cash: -2.44%
• DSCR: 0.89
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $631,638
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5755 Aleppo Pine Pl	0.23mi	3/2.0	1,644 (-2%)	10mo	$620,919	$378	78
14104 Spruce Pine Dr	0.22mi	3/2.0	1,644 (-2%)	16mo	$589,049	$358	74

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 7.68% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.44×
• Total profit: $-87,847
• Equity at exit: $84,243

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $6,421
• Equity at exit: $48,851

Cash invested: $158,200 (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 33470

• Home prices YoY: -23.3%
• Rents YoY: 7.7%
• Active inventory: 599
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $4,861 high
• Mortgage (P&I): −$2,963
• Tax from tax record: −$844 /mo · $10,126/yr
• Insurance: −$235
• HOA: −$120
• Vacancy / Maint / Mgmt: −$1,021
• Net cashflow: $-322

Break-even live

Break-even rent $5,269

Max offer price $508,155

Occupancy floor —

Sensitivity live

Price	-10% $-2	-5% $-162	+0% $-322	+5% $-482	+10% $-642
Rent	-10% $-706	-5% $-514	+0% $-322	+5% $-130	+10% $62
Rate	-1.0pp $-37	-0.5pp $-178	base $-322	+0.5pp $-468	+1.0pp $-617

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: $141,250
• Closing costs: $16,950
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13619 57th Pl N West Palm Beach, FL	3.0	2.0	1305	$4,800	$3.68	13d	1	0.87mi
13619 57th Pl N West Palm Beach, FL	3.0	2.0	1305	$4,800	$3.68	7d	1	0.87mi
13875 63rd Ln N West Palm Beach, FL	4.0	3.0	2160	$4,200	$1.94	16d	1	1.15mi
13177 47th Ct N West Palm Beach, FL	4.0	3.0	1576	$4,950	$3.14	26d	1	1.45mi
13177 47th Ct N West Palm Beach, FL	4.0	3.0	1576	$4,850	$3.08	1d	1	1.45mi

HOA detail

• Monthly dues: $120 · $1,440/yr
• Likely covers: electric

Listing history 22 events

1. 2026-06-21
   days on market $565,000 Active 59 DOM
2. 2026-06-18
   days on market $565,000 Active 56 DOM
3. 2026-06-17
   days on market $565,000 Active 55 DOM
4. 2026-06-16
   days on market $565,000 Active 54 DOM
5. 2026-06-15
   days on market $565,000 Active 53 DOM
6. 2026-06-13
   days on market $565,000 Active 51 DOM
7. 2026-06-09
   days on market $565,000 Active 47 DOM
8. 2026-06-08
   days on market $565,000 Active 46 DOM
9. 2026-06-07
   days on market $565,000 Active 45 DOM
10. 2026-06-04
    days on market $565,000 Active 42 DOM
11. 2026-06-03
    days on market $565,000 Active 41 DOM
12. 2026-06-02
    days on market $565,000 Active 40 DOM
13. 2026-06-01
    days on market $565,000 Active 39 DOM
14. 2026-05-31
    days on market $565,000 Active 38 DOM
15. 2026-04-23
    listed $565,000 Active
16. 2026-04-01
    historical
17. 2026-03-24
    price $599,000
18. 2026-02-19
    price $650,000
19. 2026-02-19
    listed $65,000 Active
20. 2026-02-18
    historical
21. 2025-11-18
    listed $650,000 Active
22. 2024-08-20
    soldstatus $568,684

ⓘ 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: $10,126 · $844/mo
• Projected year-2 tax: $10,126 · $844/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $58,335
• − Mortgage interest: −$31,649
• − Property taxes: −$10,126
• − Insurance: −$2,825
• − Repairs & maintenance: −$4,667
• − Management: −$4,667
• − HOA: −$1,440
• − Depreciation: −$16,436
• Taxable loss: −$13,475
• Est. tax savings @ 24.0%: +$3,234
• After-tax cash flow: $-627/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.

Condition & rehab AI · 7 photos

Good 80/100 None rehab

This nearly new, move-in-ready home offers a functional, open layout with upgraded finishes and a peaceful outdoor space. Minor updates to the exterior and interior could further enhance its value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace carpet in bedrooms — Improves comfort and appearance
• Both Upgrade kitchen appliances — Enhances functionality and appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace carpet in bedrooms — Improves comfort and appearance ↑
• Both Upgrade kitchen appliances — Enhances functionality and appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Westlake

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Westlake, FL
• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 35,610
• Household income: $122,163
• Rent vs Own: 5.4% rent · 94.6% own
• Severe rent burden: 43.0

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 0.58)
• Race & ethnicity: White 59% Hispanic / Latino 24% Two or more races 16% Black 10% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 6% Dominican 2%
• Common ancestry: Lithuanian 3% Romanian 2% Italian 2%
• Foreign-born: 19% · Canada, Jamaica
• Languages at home: 77% English-only · Spanish 18% French/Haitian/Cajun 2% Other Indo-European 1%

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: ▼ -124.68%
• Current HPI: 410.2689
• Rent YoY: ▲ 7.68%
• 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

-0.6% since first listed

8 events — show timeline

• 2026-04-23 Listed $565,000 Beaches MLS
• 2026-04-01 Listing Removed — MARMLS
• 2026-03-24 Price Changed $599,000 MARMLS
• 2026-02-19 Price Changed $650,000 MARMLS
• 2026-02-19 Listed $65,000 MARMLS
• 2026-02-18 Listing Removed — MARMLS
• 2025-11-18 Listed $650,000 MARMLS
• 2024-08-20 Sold (Public Records) $568,684 Public Records

Property tax history

+239.7%/yr

Latest (2025): $10,126 · +239.7% YoY. Source: county tax records.