812 Sky Pine Way Unit G1 · Greenacres, FL 33415

$175,000

2 bd · 2.0 ba · 1,064 sqft · Condo public records · 57 Days on market

Built 1986 $416/mo HOA · 20% 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 +10.9/30.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GORGEOUS QUIET FIRST FLOOR PRIVATE CONDO WITH TRANQUIL VIEW OF LAKE. 18 INCH CERAMIC TILE. NEW DISHWASHER, NEWER A/C AND COMPRESSOR.

Key facts

• Screened patio
• Pantry
• Tile floors

Tags

• LAKE VIEWS
• SCREENED PATIO
• SAMSUNG RANGE
• STAINLESS STEEL SINK
• PANTRY
• TILE FLOORS

Property features AI

Finance

• Financial info: Not a land lease community; Pets allowed (may have number/size limits and restrictions)
• HOA & community: Association: Pine Ridge North IV; HOA amenities include clubhouse, pool, pickleball, tennis and shuffleboard courts, picnic area, on-site manager and parking; HOA fee paid monthly; HOA fee includes cable TV, insurance, grounds maintenance, sewer, water, common areas, roof repairs and pool service

Exterior

• Parking: Assigned parking and guest parking; Two parking spaces total (includes one open space)
• Utilities: Public water; Public sewer; Cable available; Water available; Sewer available
• Home design: Condominium; One story; Resale; Faces southeast
• Construction: Built with CBS construction materials; Composition/shingle roof; Single-story building
• Exterior features: Covered patio; Screened patio; Patio; Storage structure; Paved private road frontage; Waterfront: Yes (no waterfront features listed)

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: One main-level bedroom
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: Two full bathrooms; One bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Stacked bedroom layout; Shutters on windows; Furnished negotiable
• Laundry & utility: Laundry located in hall; Indoor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-75 ($-905/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (7.6% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $162k (7.6% 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: Cholee Lake Elementary School (math 35% / reading 34%, grade F, #1,709 of 2,144 statewide, top 81%, 936 students, 72% FRL); Okeeheelee Middle School (math 34% / reading 40%, grade F, #399 of 571 statewide, top 71%, 1,377 students, 68% FRL) — zoned schools average 70% FRL vs 52% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 50% district-wide (-14 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.6%/yr); 314 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 40% of the median local income ($61k/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 $5k 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 57 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $128k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.
• 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 $161,675 (7.6% 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 57 days. Have you received any prior offers? Is the seller open to a 8% 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. 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: 1.16% ✓
• Cap rate: 5.78%
• Cash-on-cash: -1.85%
• DSCR: 0.92
• GRM: 7.2

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: -24.0%
• Equity multiple: 0.21×
• Total profit: $-38,798
• Equity at exit: $26,093

10-year hold

• IRR: -39.2%
• Equity multiple: -0.26×
• Total profit: $-61,688
• Equity at exit: $15,131

Cash invested: $49,000 (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 33415

• Rents YoY: -1.6%
• Active inventory: 314
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,032 high
• Mortgage (P&I): −$918
• Tax from tax record: −$274 /mo · $3,293/yr
• Insurance: −$73
• HOA: −$416
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $-75

Break-even live

Break-even rent $2,128

Max offer price $161,675

Occupancy floor 99%

Sensitivity live

Price	-10% $24	-5% $-26	+0% $-75	+5% $-125	+10% $-174
Rent	-10% $-236	-5% $-156	+0% $-75	+5% $5	+10% $85
Rate	-1.0pp $13	-0.5pp $-31	base $-75	+0.5pp $-121	+1.0pp $-167

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
811 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1064	$1,550	$1.46	21d	1	0.02mi
812 Sky Pine Way Greenacres, FL	2.0	2.0	1064	$2,100	$1.97	25d	1	0.03mi
802 Sky Pine Way Unit E2 Greenacres, FL	2.0	2.0	1111	$1,750	$1.58	8d	1	0.05mi
712 Sunny Pine Way Greenacres, FL	2.0	2.0	1068	$2,150	$2.01	25d	1	0.09mi
703 Sunny Pine Way Unit G2 Greenacres, FL	2.0	2.0	1068	$2,000	$1.87	16d	1	0.10mi
817 Sky Pine Way Unit H Greenacres, FL	2.0	2.0	1370	$2,300	$1.68	17d	1	0.10mi
826 Sky Pine Way Greenacres, FL	2.0–3.0	2.0	1304	$1,800	$1.38	13d	2	0.12mi
813 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1111	$1,725	$1.55	3d	1	0.13mi
813 Sky Pine Way Unit F2 Greenacres, FL	2.0	2.0	1111	$1,725	$1.55	15d	1	0.13mi
6115 Seven Springs Blvd Greenacres, FL	2.0	2.5	1325	$2,500	$1.89	19d	1	0.18mi
6115 Seven Springs Blvd Greenacres, FL	2.0	2.5	1325	$2,475	$1.87	6d	1	0.18mi
718 Sunny Pine Way Unit H2 Greenacres, FL	2.0	2.0	1111	$2,000	$1.80	6d	1	0.18mi
718 Sunny Pine Way Unit H2 Greenacres, FL	2.0	2.0	1111	$2,000	$1.80	21d	1	0.18mi
703 Sunny Pine Way Greenacres, FL	2.0	2.0	1068	$1,900	$1.78	25d	2	0.19mi
726 Sunny Pine Way Unit B2 Greenacres, FL	3.0	2.0	1254	$2,200	$1.75	4d	1	0.21mi
720 Sunny Pine Way Unit G1 Greenacres, FL	2.0	2.0	1111	$2,000	$1.80	20d	1	0.22mi
6134 Seven Springs Blvd Unit 40d Greenacres, FL	3.0	3.0	1321	$2,400	$1.82	4d	1	0.23mi
724 Sunny Pine Way Unit D2 Greenacres, FL	2.0	2.0	1111	$1,950	$1.76	25d	1	0.23mi
502 Shady Pine Way Unit D2 Greenacres, FL	2.0	1.0	991	$1,900	$1.92	0d	1	0.24mi
504 Shady Pine Way Unit 2 Greenacres, FL	2.0	2.0	1111	$2,000	$1.80	25d	1	0.26mi
633 Sea Pine Way Unit C Greenacres, FL	2.0	2.0	1370	$2,450	$1.79	25d	1	0.27mi
629 Sea Pine Way Unit D3 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	22d	1	0.27mi
511 Shady Pine Way Unit D2 Greenacres, FL	2.0	2.0	1115	$2,200	$1.97	4d	1	0.28mi
511 Shady Pine Way Unit D2 Greenacres, FL	2.0	2.0	1115	$2,200	$1.97	25d	1	0.28mi
508 Shady Pine Way Unit D1 Greenacres, FL	2.0	2.0	1115	$1,850	$1.66	22d	1	0.29mi
628 Sea Pine Way Unit A2 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	17d	1	0.30mi
6043 10th Ave N #130 Greenacres, FL	3.0	2.0	1500	$2,300	$1.53	25d	1	0.31mi
6031 10th Ave N #219 Greenacres, FL	3.0	2.0	1078	$2,400	$2.23	4d	1	0.31mi
1600 Island Shores Dr Greenacres, FL	1.0–2.0	1.0–2.0	889	$1,925	$2.17	25d	2	0.31mi
507 Shady Pine Way Unit D1 Greenacres, FL	1.0	1.0	788	$1,400	$1.78	15d	1	0.32mi
6061 10th Ave N #242 Greenacres, FL	2.0	2.0	855	$2,000	$2.34	5d	1	0.33mi
616 Sea Pine Way Unit C3 Greenacres, FL	2.0	2.0	1005	$2,100	$2.09	25d	1	0.34mi
527 Shady Pine Way Greenacres, FL	2.0	2.0	1115	$1,975	$1.77	0d	2	0.35mi
6049 Olivewood Cir Greenacres, FL	2.0	2.0	1377	$2,200	$1.60	24d	1	0.38mi
6506 Dockside Cir Greenacres, FL	2.0	2.5	1226	$2,000	$1.63	8d	1	0.38mi
5775 Fernley Dr W #131 West Palm Beach, FL	2.0	2.0	1072	$2,000	$1.87	11d	1	0.38mi
3350 Perimeter Dr #1323 Greenacres, FL	2.0	2.0	1059	$1,975	$1.86	2d	1	0.47mi
3386 Lucerne Park Dr Greenacres, FL	2.0	2.0	1059	$1,950	$1.84	25d	1	0.47mi
2641 Gately Dr W West Palm Beach, FL	2.0–3.0	2.5	1238	$1,800	$1.45	0d	2	0.47mi
5780 Fernley Dr W #91 West Palm Beach, FL	2.0	2.0	1324	$2,000	$1.51	25d	1	0.53mi

HOA detail condo

• Monthly dues: $416 · $4,992/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $175,000 Active 57 DOM
2. 2026-06-17
   days on market $175,000 Active 56 DOM
3. 2026-06-16
   days on market $175,000 Active 55 DOM
4. 2026-06-15
   days on market $175,000 Active 54 DOM
5. 2026-06-13
   pricedays on market $175,000 Active 52 DOM
6. 2026-06-09
   days on market $185,000 Active 48 DOM
7. 2026-06-08
   days on market $185,000 Active 47 DOM
8. 2026-06-07
   days on market $185,000 Active 46 DOM
9. 2026-06-04
   days on market $185,000 Active 43 DOM
10. 2026-06-03
    days on market $185,000 Active 42 DOM
11. 2026-06-02
    days on market $185,000 Active 41 DOM
12. 2026-06-01
    days on market $185,000 Active 40 DOM
13. 2026-05-31
    days on market $185,000 Active 39 DOM
14. 2026-04-22
    listed $185,000 Active
15. 2025-04-02
    historical
16. 2025-02-05
    price $220,000
17. 2024-11-01
    listed $225,000 Active
18. 2005-01-13
    soldstatus $128,500
19. 2005-01-05
    soldstatus $128,500 132-char remark

    Show marketing remark (132 chars)

    GORGEOUS QUIET FIRST FLOOR PRIVATE CONDO WITH TRANQUIL VIEW OF LAKE. 18 INCH CERAMIC TILE. NEW DISHWASHER, NEWER A/C AND COMPRESSOR.

20. 2004-10-12
    historical 132-char remark

    Show marketing remark (132 chars)

    GORGEOUS QUIET FIRST FLOOR PRIVATE CONDO WITH TRANQUIL VIEW OF LAKE. 18 INCH CERAMIC TILE. NEW DISHWASHER, NEWER A/C AND COMPRESSOR.

21. 2004-09-10
    listed $129,500 132-char remark

    Show marketing remark (132 chars)

    GORGEOUS QUIET FIRST FLOOR PRIVATE CONDO WITH TRANQUIL VIEW OF LAKE. 18 INCH CERAMIC TILE. NEW DISHWASHER, NEWER A/C AND COMPRESSOR.

22. 1992-08-04
    soldstatus $50,000

ⓘ 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: $3,293 · $274/mo
• Projected year-2 tax: $3,293 · $274/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 9/10 Extreme 7 d/yr ≥105°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 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,390
• − Mortgage interest: −$9,803
• − Property taxes: −$3,293
• − Insurance: −$875
• − Repairs & maintenance: −$1,951
• − Management: −$1,951
• − HOA: −$4,992
• − Depreciation: −$5,091
• Taxable loss: −$3,567
• Est. tax savings @ 24.0%: +$856
• After-tax cash flow: $-49/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

• Census place: Greenacres, FL
• County: Palm Beach County · 1,438,312 people
• City population: 65,478
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 54,581
• Household income: $61,274
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 2254.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 53% Two or more races 26% White 21% Black 21% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 6% Cuban 14% Dominican 2% Salvadoran 1%
• Common ancestry: Hispanic 9% Romanian 1% Lithuanian 1%
• Foreign-born: 44% · Canada, Jamaica, Dominican Republic
• Languages at home: 40% English-only · Spanish 49% French/Haitian/Cajun 8% 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: ▼ -400.29%
• Current HPI: 413.9695
• Rent YoY: ▼ -1.64%
• 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

+270.0% since first listed

9 events — show timeline

• 2026-04-22 Listed $185,000 Beaches MLS
• 2025-04-02 Listing Removed — Beaches MLS
• 2025-02-05 Price Changed $220,000 Beaches MLS
• 2024-11-01 Listed $225,000 Beaches MLS
• 2005-01-13 Sold (Public Records) $128,500 Public Records
• 2005-01-05 Sold (MLS) $128,500 Beaches MLS
• 2004-10-12 Listing Removed — Beaches MLS
• 2004-09-10 Listed $129,500 Beaches MLS
• 1992-08-04 Sold (Public Records) $50,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $3,293 · +4.3% YoY. Source: county tax records.