1638 Embassy Dr #208 · West Palm Beach, FL 33401

$199,500

2 bd · 2.0 ba · 890 sqft · Condo public records · 72 Days on market

Built 1973 $595/mo HOA · 19% of rent

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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 +25.2/30.0
• 1% rule +10.0/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Opportunity for this rented until 3/8/2021 and tenant wants to stay, well cared for 2 bed/2 bath condo on the 2nd floor in Jamstown Condo. Community with no age restrictions. Screened balcony. Lots of natural light. Home offers beautiful tiled flooring and carpeted bedrooms, hurricane shutters. Amenities offered: elevator & laundry facilities. association fee includes water, sewer & trash. This home in centrally located and it is within walking distance to the Palm Beach Outlets and close to the I-95. Easy access to FL-Tpke, Tri Rail Station, CityPlace, restaurants, entertainment, convention center, WPB Airport & short drive to the beaches. No pets or corporate in title per association rules. No special assesments.

Key facts

• Screened balcony
• Hurricane shutters
• Elevator access

Tags

• SCREENED BALCONY
• HURRICANE SHUTTERS
• ELEVATOR ACCESS
• SHARED LAUNDRY FACILITIES
• CONVENIENT ACCESS TO SHOPPING
• CONVENIENT ACCESS TO DINING

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee; Association amenities include elevators, laundry, and parking; HOA fee paid monthly; fee includes water, sewer and trash

Exterior

• Parking: Assigned parking, guest parking and open parking; 1 open/assigned parking space
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; Multi/split levels; Accessible approach with ramp; Faces north
• Construction: Stucco and other exterior materials; Other roof type; 4-story building; Built for resale
• Exterior features: Sidewalks; Paved road frontage; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Laminate; Tile; Vinyl; Wood
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Electric cooling with ceiling fans
• Interior features: Walk-in closets; Split bedroom layout
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.8% in West Palm Beach — 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 82/100 on livability (#75 in FL, #1,255 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, crime 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: Roosevelt Elementary School (math 22% / reading 22%, grade F, #2,080 of 2,144 statewide, top 97%, 324 students, 86% FRL); Palm Beach Lakes High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 2,688 students, 70% FRL) — zoned schools average 78% FRL vs 52% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 50% district-wide (-28 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 rising fast (+5.2%/yr); 506 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).

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 + 5.2% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 27y ago; this cycle's ask is 9875% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $110k; list at $200k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,530 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.54% ✓
• Cap rate: 8.99%
• Cash-on-cash: 9.63%
• DSCR: 1.43
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.15% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $3,411
• Equity at exit: $29,746

10-year hold

• IRR: 13.9%
• Equity multiple: 2.26×
• Total profit: $70,466
• Equity at exit: $17,249

Cash invested: $55,860 (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 33401

• Rents YoY: 5.2%
• Active inventory: 506
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $3,067 high
• Mortgage (P&I): −$1,046
• Tax from tax record: −$250 /mo · $3,002/yr
• Insurance: −$83
• HOA: −$595
• Vacancy / Maint / Mgmt: −$644
• Net cashflow: $448

Break-even live

Break-even rent $2,499

Max offer price $199,500

Occupancy floor 80%

Sensitivity live

Price	-10% $561	-5% $505	+0% $448	+5% $392	+10% $335
Rent	-10% $206	-5% $327	+0% $448	+5% $569	+10% $691
Rate	-1.0pp $549	-0.5pp $499	base $448	+0.5pp $397	+1.0pp $344

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: $49,875
• Closing costs: $5,985
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1991 Presidential Way West Palm Beach, FL	1.0	1.0	827	$3,427	$4.14	8d	1	0.37mi
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$2,705	$2.53	20d	19	0.82mi
1104 State St Unit C West Palm Beach, FL	3.0	1.0	875	$3,000	$3.43	25d	1	1.18mi
823 14th St West Palm Beach, FL	3.0	1.0	1000	$3,495	$3.50	25d	1	1.36mi
921 8th St West Palm Beach, FL	3.0	1.0	1000	$3,395	$3.40	25d	1	1.36mi

HOA detail condo

• Monthly dues: $595 · $7,140/yr
• Likely covers: watersewertrash
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-09
   days on market $199,500 Active 72 DOM
2. 2026-06-08
   days on market $199,500 Active 71 DOM
3. 2026-06-07
   days on market $199,500 Active 70 DOM
4. 2026-06-04
   days on market $199,500 Active 67 DOM
5. 2026-06-03
   days on market $199,500 Active 66 DOM
6. 2026-06-02
   days on market $199,500 Active 65 DOM
7. 2026-06-01
   days on market $199,500 Active 64 DOM
8. 2026-05-31
   days on market $199,500 Active 63 DOM
9. 2026-04-30
   price $1,900
10. 2026-04-05
    price $1,950
11. 2026-03-26
    listed $2,000
12. 2026-03-25
    listed $199,500 Active
13. 2026-01-30
    historical
14. 2025-10-07
    listed $185,000 Active
15. 2021-02-09
    soldstatus $110,000
16. 2021-02-02
    soldstatus $110,000 Closed 752-char remark

    Show marketing remark (752 chars)

    Investor Opportunity for this rented until 3/8/2021 and tenant wants to stay, well cared for 2 bed/2 bath condo on the 2nd floor in Jamstown Condo. Community with no age restrictions. Screened balcony. Lots of natural light. Home offers beautiful tiled flooring and carpeted bedrooms, hurricane shutters. Amenities offered: elevator & laundry facilities. association fee includes water, sewer & trash. This home in centrally located and it is within walking distance to the Palm Beach Outlets and close to the I-95. Easy access to FL-Tpke, Tri Rail Station, CityPlace, restaurants, entertainment, convention center, WPB Airport & short drive to the beaches. No pets or corporate in title per association rules. No special assesments.

17. 2021-01-13
    historical Active Under Contract 752-char remark

    Show marketing remark (752 chars)

    Investor Opportunity for this rented until 3/8/2021 and tenant wants to stay, well cared for 2 bed/2 bath condo on the 2nd floor in Jamstown Condo. Community with no age restrictions. Screened balcony. Lots of natural light. Home offers beautiful tiled flooring and carpeted bedrooms, hurricane shutters. Amenities offered: elevator & laundry facilities. association fee includes water, sewer & trash. This home in centrally located and it is within walking distance to the Palm Beach Outlets and close to the I-95. Easy access to FL-Tpke, Tri Rail Station, CityPlace, restaurants, entertainment, convention center, WPB Airport & short drive to the beaches. No pets or corporate in title per association rules. No special assesments.

18. 2020-12-15
    listed $110,000 Active 752-char remark

    Show marketing remark (752 chars)

    Investor Opportunity for this rented until 3/8/2021 and tenant wants to stay, well cared for 2 bed/2 bath condo on the 2nd floor in Jamstown Condo. Community with no age restrictions. Screened balcony. Lots of natural light. Home offers beautiful tiled flooring and carpeted bedrooms, hurricane shutters. Amenities offered: elevator & laundry facilities. association fee includes water, sewer & trash. This home in centrally located and it is within walking distance to the Palm Beach Outlets and close to the I-95. Easy access to FL-Tpke, Tri Rail Station, CityPlace, restaurants, entertainment, convention center, WPB Airport & short drive to the beaches. No pets or corporate in title per association rules. No special assesments.

19. 2019-10-22
    historical Contingent
20. 2019-10-22
    historical
21. 2019-09-19
    listed $90,000 Active
22. 2015-12-11
    soldstatus $65,000
23. 2015-12-08
    soldstatus $65,000 Closed
24. 2015-11-11
    historical Contingent
25. 2015-11-03
    listed $65,000 Active
26. 2000-05-08
    soldstatus $39,000
27. 2000-04-28
    soldstatus $39,000
28. 2000-04-17
    historical
29. 1999-10-27
    listed $42,000

ⓘ 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: $3,002 · $250/mo
• Projected year-2 tax: $3,002 · $250/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 24 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: $36,802
• − Mortgage interest: −$11,175
• − Property taxes: −$3,002
• − Insurance: −$998
• − Repairs & maintenance: −$2,944
• − Management: −$2,944
• − HOA: −$7,140
• − Depreciation: −$5,804
• Taxable income: $2,795
• Est. tax owed @ 24.0%: −$671
• After-tax cash flow: $4,708/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 — West Palm Beach

• Score: 82/100
• State rank: #75
• US rank: #1255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,698
• Household income: $67,967
• Rent vs Own: 62.5% rent · 37.5% own
• Severe rent burden: 2953.0

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 43% Black 32% Hispanic / Latino 17% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 3%
• Common ancestry: Hispanic 6% Slovak 2% Romanian 2%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 13% French/Haitian/Cajun 7% Other Asian/Pacific 2%

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: ▼ -324.96%
• Current HPI: 367.0978
• Rent YoY: ▲ 5.15%
• 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

-95.5% since first listed

21 events — show timeline

• 2026-04-30 Price Changed $1,900 RMLSFL
• 2026-04-05 Price Changed $1,950 RMLSFL
• 2026-03-26 Listed for Rent $2,000 RMLSFL
• 2026-03-25 Listed $199,500 Beaches MLS
• 2026-01-30 Listing Removed — Beaches MLS
• 2025-10-07 Listed $185,000 Beaches MLS
• 2021-02-09 Sold (Public Records) $110,000 Public Records
• 2021-02-02 Sold (MLS) $110,000 Beaches MLS
• 2021-01-13 Contingent — Beaches MLS
• 2020-12-15 Listed $110,000 Beaches MLS
• 2019-10-22 Contingent — Beaches MLS
• 2019-10-22 Listing Removed — Beaches MLS
• 2019-09-19 Listed $90,000 Beaches MLS
• 2015-12-11 Sold (Public Records) $65,000 Public Records
• 2015-12-08 Sold (MLS) $65,000 Beaches MLS
• 2015-11-11 Contingent — Beaches MLS
• 2015-11-03 Listed $65,000 Beaches MLS
• 2000-05-08 Sold (Public Records) $39,000 Public Records
• 2000-04-28 Sold (MLS) $39,000 Beaches MLS
• 2000-04-17 Listing Removed — Beaches MLS
• 1999-10-27 Listed $42,000 Beaches MLS

Property tax history

+11.2%/yr

Latest (2025): $3,002 · +5.2% YoY. Source: county tax records.