Silver Springs - Limited Series Plan · Seminole Manor, FL 33462

$189,900

2 bd · 2.0 ba · 1,356 sqft · Manufactured · 114 Days on market

---

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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

55+ age qualified community. COMING SOON! Currently under construction. Welcome to Maralago Cay, a 55+ age-qualified active and vibrant community, where your dream home is coming to life. We are excited to offer a stunning, brand new, beautiful, 2026 3 bed, 2 bath home for sale, featuring approximately 1356.16 sq ft of thoughtfully designed living space. Located in/near Lantana, this soon-to-be-completed property will offer the perfect blend of modern design and timeless comfort. Construction is underway, and soon you'll be able to step inside and experience highlight interior features, an open-concept floor plan, high ceilings, natural light. The kitchen will be beautifully designed with f

Key facts

• Custom cabinetry
• Quartz countertops
• Natural light

Tags

• UNDER CONSTRUCTION
• OPEN-CONCEPT FLOOR PLAN
• NATURAL LIGHT
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• CUSTOM CABINETRY

Property features AI

Finance

• Financial info: List price $189,900

Exterior

• Home design: Plan: Silver Springs - Limited Series; Inventory type: Plan; Located in Lantana, FL

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Living area of 1,356 (as reported)

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $682 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $173k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#711 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: amenities F, commute F, employment 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 fast (+4.1%/yr); 383 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 41% of the median local income ($74k/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.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $53k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($173k) 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. 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.
6. 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.
7. 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: 1.33% ✓
• Cap rate: 10.60%
• Cash-on-cash: 15.39%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.09% rent growth · sell at horizon

5-year hold

• IRR: 7.4%
• Equity multiple: 1.29×
• Total profit: $15,487
• Equity at exit: $28,315

10-year hold

• IRR: 17.6%
• Equity multiple: 2.53×
• Total profit: $81,295
• Equity at exit: $16,419

Cash invested: $53,172 (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 33462

• Rents YoY: 4.1%
• Active inventory: 383
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,524 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $682

Break-even live

Break-even rent $1,661

Max offer price $189,900

Occupancy floor 68%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6411 Birch Ln Lake Worth, FL	3.0	2.0	1200	$1,800	$1.50	24d	1	0.17mi
3883 Island Club Cir W Lake Worth, FL	3.0	2.5	1308	$2,400	$1.83	17d	1	0.33mi
423 Pine Tree Ct #23 Lake Worth, FL	2.0	2.0	1222	$2,300	$1.88	21d	1	0.40mi
6040 Lace Wood Cir Lake Worth, FL	3.0	2.0	1326	$2,799	$2.11	24d	1	0.42mi
493 Forestview Dr Lake Worth, FL	3.0	2.0	1701	$2,300	$1.35	5d	1	0.52mi
4091 Plumbago Pl Lake Worth, FL	3.0	2.0	1816	$1,300	$0.72	24d	1	0.72mi
4350 Peregrine Way Lake Worth, FL	1.0–3.0	1.0–2.0	1025	$2,704	$2.64	2d	18	0.73mi
4648 Silver Saw Ln Lake Worth, FL	3.0	2.5	1718	$3,300	$1.92	10d	1	0.78mi
4735 Blue Pine Cir Lake Worth, FL	3.0	2.0	1732	$3,500	$2.02	24d	1	0.84mi
7132 Colony Club Dr Lake Worth, FL	1.0–3.0	1.0–2.0	1087	$2,510	$2.31	2d	14	1.01mi
4983 Pinemore Ln Unit 4983 Greenacres, FL	3.0	2.5	1628	$2,900	$1.78	24d	1	1.02mi
6289 Lear Dr Lake Worth, FL	1.0–3.0	1.0–2.0	792	$1,975	$2.49	14d	2	1.04mi
6289 Lear Dr #203 Lake Worth, FL	3.0	2.0	1044	$2,200	$2.11	24d	1	1.04mi
6909 Blue Skies Dr Lake Worth, FL	2.0	2.5	1293	$2,600	$2.01	24d	1	1.11mi
7398 Willow Springs Cir E Boynton Beach, FL	3.0	2.0	1390	$2,861	$2.06	5d	1	1.12mi
6175 Reflections Blvd Lake Worth, FL	1.0–2.0	1.0–2.0	814	$2,307	$2.83	1d	15	1.13mi
712 Meadows Cir Boynton Beach, FL	2.0	2.0	921	$2,400	$2.61	24d	1	1.14mi
4951 Mallory St Unit 4951 Greenacres, FL	3.0	2.5	1309	$2,700	$2.06	21d	1	1.15mi
4947 Grinnell St Lake Worth, FL	3.0	2.5	1309	$2,850	$2.18	24d	1	1.18mi
1106 Meadows Cir Boynton Beach, FL	2.0	2.0	900	$1,895	$2.11	21d	1	1.19mi
1106 Meadows Cir Boynton Beach, FL	2.0	2.0	900	$1,850	$2.06	2d	1	1.19mi
316 Meadows Cir #316 Boynton Beach, FL	2.0	2.0	921	$2,100	$2.28	1d	1	1.20mi
1120 Meadows Cir Unit 1120 Boynton Beach, FL	2.0	2.0	900	$1,980	$2.20	24d	1	1.20mi
1205 Meadows Cir Boynton Beach, FL	2.0	2.0	909	$1,900	$2.09	24d	1	1.20mi
2780 Norfolk Pine Ct Lake Worth, FL	2.0	2.0	1175	$2,400	$2.04	24d	1	1.20mi
4725 Via Bari Lake Worth, FL	1.0–3.0	1.0–2.0	1150	$2,290	$1.99	3d	10	1.21mi
4657 Meyerson Pl Lake Worth, FL	3.0	2.5	1635	$2,900	$1.77	20d	1	1.21mi
4657 Meyerson Pl Lake Worth, FL	3.0	2.5	1635	$2,900	$1.77	24d	1	1.21mi
3771 Newport Ave Boynton Beach, FL	3.0	2.0	1795	$3,500	$1.95	18d	1	1.23mi
4302 Colony View Dr Unit 4302 Greenacres, FL	3.0	2.5	1851	$3,000	$1.62	20d	1	1.23mi
6941 Boston Dr Lake Worth, FL	3.0	2.0	1527	$3,399	$2.23	20d	1	1.23mi
6941 Boston Dr Lake Worth, FL	3.0	2.0	1527	$3,299	$2.16	24d	1	1.23mi
5056 Lantana Rd #4302 Lake Worth, FL	2.0	2.0	979	$2,295	$2.34	7d	1	1.26mi
300 John F Kennedy Dr #8 Lake Worth, FL	3.0	2.0	1711	$3,200	$1.87	1d	1	1.27mi
300 John F Kennedy Dr #208 Lake Worth, FL	3.0	2.0	1548	$4,800	$3.10	24d	1	1.27mi
300 John F Kennedy Dr #8 Lake Worth, FL	3.0	2.0	1711	$3,100	$1.81	2d	1	1.27mi
300 John F Kennedy Dr #101 Lake Worth, FL	3.0	2.0	1711	$3,500	$2.05	21d	1	1.27mi
5 Heather Trace Dr Boynton Beach, FL	3.0	2.0	1454	$3,100	$2.13	21d	1	1.30mi
5048 Lantana Rd #5112 Lake Worth, FL	3.0	2.0	1115	$2,200	$1.97	7d	1	1.31mi
5981 Via Vermilya #203 Lake Worth, FL	2.0	2.0	1130	$1,975	$1.75	24d	1	1.31mi

Listing history 11 events

1. 2026-06-18
   days on market $189,900 Active 114 DOM
2. 2026-06-17
   days on market $189,900 Active 113 DOM
3. 2026-06-16
   days on market $189,900 Active 112 DOM
4. 2026-06-15
   days on market $189,900 Active 111 DOM
5. 2026-06-13
   days on market $189,900 Active 109 DOM
6. 2026-06-09
   days on market $189,900 Active 105 DOM
7. 2026-06-07
   days on market $189,900 Active 103 DOM
8. 2026-06-04
   days on market $189,900 Active 100 DOM
9. 2026-06-03
   days on market $189,900 Active 99 DOM
10. 2026-06-01
    days on market $189,900 Active 97 DOM
11. 2026-05-31
    days on market $189,900 Active 96 DOM

ⓘ 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 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 · 27 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: $30,291
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$950
• − Repairs & maintenance: −$2,423
• − Management: −$2,423
• − Depreciation: −$5,524
• Taxable income: $5,484
• Est. tax owed @ 24.0%: −$1,316
• After-tax cash flow: $6,865/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 — Seminole Manor

• Score: 63/100
• State rank: #711
• US rank: #15076

Category grades

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

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): 33,371
• Household income: $73,997
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1852.0

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 0.68)
• Race & ethnicity: White 44% Black 26% Hispanic / Latino 26% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5% Cuban 3%
• Common ancestry: Hispanic 14% Romanian 2% Scotch-Irish 2%
• Foreign-born: 31% · Canada, Jamaica, Dominican Republic
• Languages at home: 60% English-only · Spanish 20% French/Haitian/Cajun 16% 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: ▼ -295.48%
• Current HPI: 361.5391
• Rent YoY: ▲ 4.09%
• 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