4838 Esedra Ct #206 · Greenacres, FL 33467

$194,900

3 bd · 2.0 ba · 1,225 sqft · Condo public records · 104 Days on market

Built 1973 $743/mo HOA · 31% of rent

---

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 +9.9/30.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience the ultimate Florida lifestyle in this expansive 3-bedroom, 2-bathroom convertible residence, offering the absolute best value in the prestigious Fountains Country Club, the unit is bathed in soft, natural light that accentuates its spacious, open-concept floor plan. The seamless flow between rooms creates an inviting ambiance perfect for hosting vibrant gatherings or enjoying quiet evenings. From the sleek white tile flooring to the panoramic vistas of emerald golf greens, shimmering fountains, and serene water features, every corner of this home serves as a tranquil escape. Nestled within a lush, park-like setting, this residence provides both comfort and peace of mind with pre

Key facts

• Panoramic vistas
• White tile flooring
• $743 HOA

Tags

• OPEN-CONCEPT FLOOR PLAN
• WHITE TILE FLOORING
• PANORAMIC VISTAS
• IN-UNIT WASHER AND DRYER
• MANNED GATED COMMUNITY
• CHAMPIONSHIP GOLF COURSES

Property features AI

Finance

• Other: Directions: Lake Worth Rd west of Jog Rd on SW side
• Financial info: No pets allowed; Senior community
• HOA & community: Community association with monthly HOA fee; Association amenities include clubhouse, elevators, fitness center, golf course, jogging path, pool, storage, tennis courts, and trash chute; HOA covers insurance, grounds maintenance, security, and common areas

Exterior

• Parking: Assigned parking; Guest parking
• Security: Gated community with guard
• Utilities: Public water; Public sewer; Three-phase electricity; Cable available
• Home design: Condominium; Multi/split levels; Faces northwest; Resale condition
• Construction: Stucco and CBS construction; Built-up and tar/gravel roof with wood truss/rafter
• Exterior features: On golf course; Sidewalks; Paved road access

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Three bedrooms on the main level
• Flooring: Ceramic tile
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fan(s)
• Interior features: Built-in features; Walk-in closet(s); Stacked bedroom layout; Custom mirrors; Storm and sliding windows
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $-120 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (10.8% below list).
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $174k (10.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 69/100 on livability (#490 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: Heritage Elementary School (math 35% / reading 39%, grade F, #1,609 of 2,144 statewide, top 77%, 786 students, 75% FRL); Woodlands Middle School (math 51% / reading 58%, grade B-, #183 of 571 statewide, top 34%, 1,551 students, 40% FRL).
• Market conditions: Rents soft (-0.4%/yr); 651 active listings in the ZIP; 40 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 ($96k/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 $1k of loan paydown is wiped out by about $6k 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 104 days — a 9% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y ago 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 $61k; list at $195k implies a 220% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% 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 $173,771 (10.8% 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 104 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — 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 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?
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: 1.24% ✓
• Cap rate: 5.56%
• Cash-on-cash: -2.63%
• DSCR: 0.88
• GRM: 6.7

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: -25.8%
• Equity multiple: 0.16×
• Total profit: $-45,841
• Equity at exit: $29,060

10-year hold

• IRR: -50.1%
• Equity multiple: -0.38×
• Total profit: $-75,301
• Equity at exit: $16,851

Cash invested: $54,572 (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 33467

• Rents YoY: -0.4%
• Active inventory: 651
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,422 high
• Mortgage (P&I): −$1,022
• Tax from tax record: −$187 /mo · $2,245/yr
• Insurance: −$81
• HOA: −$743
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $-120

Break-even live

Break-even rent $2,574

Max offer price $173,771

Occupancy floor 100%

Sensitivity live

Price	-10% $-9	-5% $-64	+0% $-120	+5% $-175	+10% $-230
Rent	-10% $-311	-5% $-215	+0% $-120	+5% $-24	+10% $72
Rate	-1.0pp $-21	-0.5pp $-70	base $-120	+0.5pp $-170	+1.0pp $-221

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4832 Esedra Ct Lake Worth, FL	1.0–3.0	1.0–2.0	1026	$1,800	$1.75	3d	2	0.05mi
4832 Esedra Ct #203 Lake Worth, FL	3.0	2.0	1225	$1,800	$1.47	25d	1	0.06mi
4801 Esedra Ct #201 Lake Worth, FL	2.0	2.0	1005	$2,300	$2.29	25d	1	0.14mi
4801 Esedra Ct Lake Worth, FL	2.0	2.0	1027	$2,075	$2.02	11d	2	0.14mi
4266 Deste Ct #107 Greenacres, FL	2.0	2.0	978	$2,100	$2.15	25d	1	0.15mi
4242 Deste Ct Unit 208 Greenacres, FL	2.0	2.0	978	$2,500	$2.56	25d	1	0.23mi
443 Pine Glen Ln Unit B2 Greenacres, FL	2.0	2.0	922	$1,500	$1.63	25d	1	0.23mi
4702 Fountains Dr S #207 Lake Worth, FL	2.0	2.5	1434	$2,600	$1.81	2d	1	0.25mi
4702 Fountains Dr S #207 Lake Worth, FL	2.0	2.5	1434	$2,600	$1.81	25d	1	0.25mi
408 Pine Glen Ln Unit C-2 Greenacres, FL	2.0	1.0	804	$1,600	$1.99	25d	1	0.27mi
6615 Waterfront Xing Lake Worth, FL	1.0–3.0	1.0–2.0	1087	$3,604	$3.31	0d	23	0.30mi
407 Pine Cir Unit B1 Greenacres, FL	2.0	2.0	922	$1,750	$1.90	25d	1	0.31mi
407 Pine Cir Unit C1 Greenacres, FL	2.0	2.0	922	$1,800	$1.95	25d	1	0.31mi
429 Pine Glen Ln Unit C2 Greenacres, FL	2.0	1.0	804	$1,650	$2.05	25d	1	0.34mi
1204 Timberlane Cir Unit 12D Greenacres, FL	3.0	2.0	1332	$2,800	$2.10	4d	1	0.36mi
4228 Deste Ct Greenacres, FL	3.0	2.5	1497	$3,000	$2.00	19d	1	0.37mi
4535 Oak Terrace Dr Greenacres, FL	3.0	2.0	1061	$2,400	$2.26	13d	1	0.38mi
4535 Oak Terrace Dr Greenacres, FL	3.0	2.0	1061	$2,500	$2.36	16d	1	0.38mi
4770 Fountains Dr S #303 Lake Worth, FL	2.0	2.0	1434	$2,200	$1.53	3d	1	0.40mi
4259 Oak Terrace Dr Unit 2 Greenacres, FL	2.0	2.0	1400	$2,000	$1.43	25d	1	0.43mi
4259 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,900	$2.15	25d	1	0.43mi
4243 Oak Terrace Dr #4243 Greenacres, FL	2.0	2.0	883	$1,950	$2.21	25d	1	0.43mi
4245 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$2,000	$2.27	25d	1	0.43mi
4345 Trevi Ct #204 Lake Worth, FL	2.0	2.0	1005	$2,100	$2.09	21d	1	0.43mi
4539 Luxemburg Ct Lake Worth, FL	2.0	2.0	1005	$2,250	$2.24	25d	1	0.43mi
4539 Luxemburg Ct Lake Worth, FL	2.0	2.0	1027	$2,250	$2.19	6d	1	0.43mi
417 Pine Glen Ln Unit C2 Greenacres, FL	2.0	2.0	922	$1,800	$1.95	25d	1	0.43mi
417 Pine Glen Ln Unit D2 Greenacres, FL	2.0	2.0	922	$1,550	$1.68	25d	1	0.43mi
4557 Luxemburg Ct Lake Worth, FL	2.0	1.5	1065	$2,400	$2.25	25d	1	0.44mi
4221 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,900	$2.15	25d	1	0.45mi
4471 Luxemburg Ct #101 Lake Worth, FL	2.0	2.0	1005	$2,300	$2.29	19d	1	0.46mi
4471 Luxemburg Ct Lake Worth, FL	2.0	2.0	1005	$2,150	$2.14	25d	2	0.46mi
4489 Luxemburg Ct #101 Lake Worth, FL	2.0	2.0	1005	$2,000	$1.99	25d	1	0.47mi
4483 Luxemburg Ct #201 Lake Worth, FL	3.0	2.0	1265	$2,800	$2.21	25d	1	0.47mi
4185 Oak Terrace Dr Unit 21 Greenacres, FL	2.0	2.0	1400	$2,000	$1.43	25d	1	0.47mi
4185 Oak Terrace Dr Greenacres, FL	2.0	2.0	883	$1,850	$2.10	22d	1	0.47mi
4598 Lucerne Lakes Blvd E #101 Lake Worth, FL	2.0	2.0	872	$2,250	$2.58	25d	1	0.56mi
4598 Lucerne Lakes Blvd E #101 Lake Worth, FL	2.0	2.0	872	$2,250	$2.58	5d	1	0.56mi
4373 Trevi Ct Lake Worth, FL	2.0	1.5	1080	$2,500	$2.31	18d	1	0.56mi
4080 Tivoli Ct #307 Lake Worth, FL	3.0	2.0	1253	$1,999	$1.60	25d	1	0.56mi

HOA detail condo

• Monthly dues: $743 · $8,916/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-18
   days on market $194,900 Active 104 DOM
2. 2026-06-17
   days on market $194,900 Active 103 DOM
3. 2026-06-16
   days on market $194,900 Active 102 DOM
4. 2026-06-15
   days on market $194,900 Active 101 DOM
5. 2026-06-13
   days on market $194,900 Active 99 DOM
6. 2026-06-09
   days on market $194,900 Active 95 DOM
7. 2026-06-08
   days on market $194,900 Active 94 DOM
8. 2026-06-07
   days on market $194,900 Active 93 DOM
9. 2026-06-04
   days on market $194,900 Active 90 DOM
10. 2026-06-03
    days on market $194,900 Active 89 DOM
11. 2026-06-02
    days on market $194,900 Active 88 DOM
12. 2026-06-01
    days on market $194,900 Active 87 DOM
13. 2026-05-31
    days on market $194,900 Active 86 DOM
14. 2026-04-08
    price $194,900
15. 2026-03-06
    listed $199,900 Active
16. 2016-05-19
    historical
17. 2013-12-01
    historical
18. 2013-09-21
    historical
19. 2009-03-30
    soldstatus $61,000
20. 2009-03-23
    soldstatus $61,000
21. 2009-02-12
    historical
22. 2008-04-11
    listed $79,750
23. 2008-04-01
    historical
24. 2007-10-01
    listed $89,900
25. 2007-03-31
    listed $110,000
26. 2006-09-15
    listed $155,000
27. 2006-09-13
    historical
28. 2006-09-05
    listed $155,000
29. 2006-03-19
    listed $155,000

ⓘ 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: $2,245 · $187/mo
• Projected year-2 tax: $2,245 · $187/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $29,070
• − Mortgage interest: −$10,917
• − Property taxes: −$2,245
• − Insurance: −$974
• − Repairs & maintenance: −$2,326
• − Management: −$2,326
• − HOA: −$8,916
• − Depreciation: −$5,670
• Taxable loss: −$4,304
• Est. tax savings @ 24.0%: +$1,033
• After-tax cash flow: $-402/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 — Greenacres

• Score: 69/100
• State rank: #490
• US rank: #9008

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• City population: 65,478
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 58,411
• Household income: $95,739
• Rent vs Own: 13.6% rent · 86.4% own
• Severe rent burden: 960.0

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: White 59% Hispanic / Latino 22% Two or more races 13% Black 10% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 4% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Hispanic 3%
• Foreign-born: 24% · Canada, Jamaica, Vietnam
• Languages at home: 71% English-only · Spanish 17% French/Haitian/Cajun 5% Other Indo-European 3%

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: ▼ -288.94%
• Current HPI: 343.7738
• Rent YoY: ▼ -0.40%
• 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

+25.7% since first listed

16 events — show timeline

• 2026-04-08 Price Changed $194,900 Beaches MLS
• 2026-03-06 Listed $199,900 Beaches MLS
• 2016-05-19 Listing Removed — Beaches MLS
• 2013-12-01 Listing Removed — Beaches MLS
• 2013-09-21 Listing Removed — Beaches MLS
• 2009-03-30 Sold (Public Records) $61,000 Public Records
• 2009-03-23 Sold (MLS) $61,000 Beaches MLS
• 2009-02-12 Listing Removed — Beaches MLS
• 2008-04-11 Listed $79,750 Beaches MLS
• 2008-04-01 Listing Removed — Beaches MLS
• 2007-10-01 Listed $89,900 Beaches MLS
• 2007-03-31 Listed $110,000 Beaches MLS
• 2006-09-15 Listed $155,000 Beaches MLS
• 2006-09-13 Listing Removed — Beaches MLS
• 2006-09-05 Listed $155,000 Beaches MLS
• 2006-03-19 Listed $155,000 Beaches MLS

Property tax history

+6.7%/yr

Latest (2025): $2,245 · -5.0% YoY. Source: county tax records.