6 Garden St #204 · Tequesta, FL 33469

$245,000

2 bd · 2.0 ba · 886 sqft · Condo · 134 Days on market

Built 1971 $505/mo HOA · 19% of rent ↓ 8% since listing

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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 +11.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Schools +4.3/10.0
• Rent growth +3.5/5.0
• DSCR +3.2/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well maintained 2 bedroom 2 bathroom condo in a 55+ community offers peaceful garden views from a bright and open Florida style porch with sliding glass doors that gives the home a lifestyle you can enjoy year round. A little walk from the unit you can take a swim in the two pools, enjoy the clubhouse, shuffleboard, putting green, library, and grill area. Laundry and storage are located right next to unit. Low HOA fees include exterior maintenance, landscaping, and access to all amenities. Ideally situated within walking distance to popular restaurants, coffee shops, shopping, and the Tequesta Farmers market. Famous Jupiter Blue water Beaches are just a few minutes away. This is a wonderful

Key facts

• Clubhouse
• Florida style porch
• Putting green

Tags

• FLORIDA STYLE PORCH
• TWO POOLS
• CLUBHOUSE
• SHUFFLEBOARD
• PUTTING GREEN
• LIBRARY

Property features AI

Finance

• Financial info: Pets allowed (pet restrictions possible)
• HOA & community: Has association; monthly HOA fee of $505; HOA covers cable TV, insurance, grounds maintenance, pest control, sewer, water, common areas, and common real estate tax; Community amenities include clubhouse, laundry, management, parking, pool, shuffleboard court, storage, on-site manager, bike storage, community room, library, putting green, sidewalks, and street lights; Senior community

Exterior

• Parking: Assigned parking; Open parking
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Resale condition; West-facing; 2 total stories; Second/third floor concrete construction elements
• Construction: Block/CBS construction; Built with second/third floor concrete
• Exterior features: Paved road access; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Split bedroom layout; Partially furnished
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $245k.

Deal economics

• At list price, monthly cash flow is $-98 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (5.8% below list).
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $216k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.8% vs local median 2.5% in Tequesta — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 62/100 on livability (#764 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: schools F, 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.
• Market conditions: Rents rising (+3.9%/yr); 206 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 30% of the median local income ($106k/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 $2k of loan paydown is wiped out by about $7k 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 134 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $215,600 (12.0% 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 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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?
10. 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.
11. 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.
12. 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: 1.09% ✓
• Cap rate: 5.81%
• Cash-on-cash: -1.71%
• DSCR: 0.92
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.88% rent growth · sell at horizon

5-year hold

• IRR: -17.7%
• Equity multiple: 0.37×
• Total profit: $-43,200
• Equity at exit: $36,530

10-year hold

• IRR: -7.5%
• Equity multiple: 0.50×
• Total profit: $-34,288
• Equity at exit: $21,183

Cash invested: $68,600 (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 33469

• Home prices YoY: -30.4%
• Rents YoY: 3.9%
• Active inventory: 206
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,659 high
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• HOA: −$505
• Vacancy / Maint / Mgmt: −$558
• Net cashflow: $-98

Break-even live

Break-even rent $2,782

Max offer price $230,859

Occupancy floor 99%

Sensitivity live

Price	-10% $72	-5% $-13	+0% $-98	+5% $-182	+10% $-267
Rent	-10% $-308	-5% $-203	+0% $-98	+5% $7	+10% $112
Rate	-1.0pp $26	-0.5pp $-35	base $-98	+0.5pp $-161	+1.0pp $-226

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 Garden St Unit 204P Jupiter, FL	2.0	2.0	886	$2,400	$2.71	25d	1	0.02mi
11 Westwood Ave Unit 103A Jupiter, FL	2.0	2.0	886	$2,350	$2.65	25d	1	0.08mi
4 Westwood Ave Unit 204 Jupiter, FL	2.0	2.0	980	$2,200	$2.24	0d	1	0.12mi
331 Tequesta Dr #118 Jupiter, FL	2.0	2.0	717	$2,500	$3.49	5d	1	0.42mi
331 Tequesta Dr Tequesta, FL	2.0	2.0	717	$2,250	$3.14	5d	2	0.42mi
331 Tequesta Dr Tequesta, FL	2.0	2.0	793	$2,150	$2.71	19d	2	0.42mi
413 N Cypress Dr Jupiter, FL	2.0	1.5	1024	$2,450	$2.39	21d	1	0.45mi
405 N Cypress Dr #3 Jupiter, FL	2.0	1.5	960	$1,950	$2.03	15d	1	0.49mi
91 Willow Rd #107 Jupiter, FL	2.0	1.0	864	$2,100	$2.43	25d	1	0.49mi
272 Village Blvd #7305 Tequesta, FL	2.0	2.0	991	$2,200	$2.22	6d	1	0.53mi
284 Village Blvd Tequesta, FL	2.0–3.0	2.0	1182	$3,100	$2.62	12d	2	0.53mi
284 Village Blvd Tequesta, FL	1.0–3.0	1.0–2.0	1087	$2,600	$2.39	25d	3	0.53mi
284 Village Blvd Tequesta, FL	1.0–3.0	1.0–2.0	1087	$2,600	$2.39	11d	2	0.53mi
242 Village Blvd Tequesta, FL	2.0	2.0	991	$3,150	$3.18	21d	2	0.57mi
254 Village Blvd #4306 Tequesta, FL	2.0	2.0	991	$3,000	$3.03	25d	1	0.61mi
242 Village Blvd #2304 Tequesta, FL	2.0	2.0	991	$3,800	$3.83	25d	1	0.61mi
114 Lighthouse Cir Unit J Jupiter, FL	2.0	2.0	981	$2,350	$2.40	25d	1	0.62mi
1519 Treemont Ave Jupiter, FL	3.0	2.0	888	$3,200	$3.60	25d	1	0.63mi
150 Pineview Rd Jupiter, FL	1.0–2.0	1.0–2.0	982	$2,800	$2.85	3d	5	0.73mi
249 Center St Unit 2C Jupiter, FL	2.0	2.0	1040	$2,950	$2.84	25d	1	1.33mi
1600 Center St Unit B1 Jupiter, FL	2.0	1.0	800	$2,315	$2.89	25d	1	1.47mi
1600 Center St Unit B11 Jupiter, FL	2.0	1.0	800	$2,200	$2.75	25d	1	1.47mi

HOA detail condo

• Monthly dues: $505 · $6,060/yr
• Likely covers: waterlandscapingexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-18
   days on market $245,000 Active 134 DOM
2. 2026-06-17
   days on market $245,000 Active 133 DOM
3. 2026-06-16
   days on market $245,000 Active 132 DOM
4. 2026-06-15
   days on market $245,000 Active 131 DOM
5. 2026-06-13
   days on market $245,000 Active 129 DOM
6. 2026-06-09
   days on market $245,000 Active 125 DOM
7. 2026-06-07
   days on market $245,000 Active 123 DOM
8. 2026-06-04
   days on market $245,000 Active 120 DOM
9. 2026-06-03
   days on market $245,000 Active 119 DOM
10. 2026-06-01
    days on market $245,000 Active 117 DOM
11. 2026-05-31
    days on market $245,000 Active 116 DOM
12. 2026-04-27
    price $245,000
13. 2026-02-03
    listed $265,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 16% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,905
• − Mortgage interest: −$13,724
• − Property taxes: −$3,675
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,552
• − Management: −$2,552
• − HOA: −$6,060
• − Depreciation: −$7,127
• Taxable loss: −$5,011
• Est. tax savings @ 24.0%: +$1,203
• After-tax cash flow: $30/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 — Tequesta

• Score: 62/100
• State rank: #764
• US rank: #16907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tequesta, FL
• County: Martin County · 165,223 people
• City population: 14,686
• Metro: Port St. Lucie, FL
• Population (ZIP): 14,686
• Household income: $106,265
• Rent vs Own: 13.4% rent · 86.6% own
• Severe rent burden: 404.0

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: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 3%
• Common ancestry: Lithuanian 6% Slovak 4% Romanian 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -183.36%
• Current HPI: 419.948
• Rent YoY: ▲ 3.88%
• Metro: Port St. Lucie, 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

-7.5% since first listed

2 events — show timeline

• 2026-04-27 Price Changed $245,000 Beaches MLS
• 2026-02-03 Listed $265,000 Beaches MLS