148 Yacht Club Dr #10 · North Palm Beach, FL 33408

$170,000

2 bd · 1.5 ba · 930 sqft · Condo public records · 135 Days on market

Built 1964 $1097/mo HOA · 32% 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 +25.9/30.0
• 1% rule +10.0/10.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the potential of this 2-bedroom, 1/1 bath condo ideally located near the marina and golf course. This property is a blank canvas, ready for your vision and renovations to bring it to life. With no rental restrictions, it offers outstanding flexibility for investors, seasonal residents, or buyers looking to create a custom coastal retreat. Enjoy close proximity to boating, dining, shopping, and outdoor recreation while adding value through updates and improvements. Whether you're searching for a value-add opportunity, vacation rental, or personal project, this condo presents a rare chance to own in a highly desirable location with unlimited upside.

Key facts

• Near the marina
• Near golf course
• $1,097 HOA

Tags

• NEAR THE MARINA
• NEAR GOLF COURSE
• NO RENTAL RESTRICTIONS
• CLOSE PROXIMITY TO BOATING
• CLOSE PROXIMITY TO DINING
• CLOSE PROXIMITY TO SHOPPING

Property features AI

Finance

• Financial info: Pets allowed with restrictions or possible restrictions (conditional)
• HOA & community: Monthly association fee; Association fee includes common areas, cable TV, insurance, laundry, structure maintenance, pool(s), roof, and trash; Association amenities include pool

Exterior

• Parking: Assigned parking; Two or more parking spaces
• Utilities: Electric heating and cooling
• Home design: 2 stories; West-facing; Entry level: 1; Attached property
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony/porch; Fence; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Self-cleaning oven
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fan(s)
• Interior features: First-floor entry; Bedroom on main level; Closet cabinetry; Walk-in closet(s)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $170k.

Deal economics

• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#184 in FL, #2,894 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living D-.
• 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 flat; 400 active listings in the ZIP; 11 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 44% of the median local income ($92k/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 135 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 27y 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 $130k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: major flood risk; 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 $149,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — 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. Schools are A-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?
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: 2.01% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.55%
• DSCR: 1.47
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.27% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.81×
• Total profit: $-9,276
• Equity at exit: $25,348

10-year hold

• IRR: -2.4%
• Equity multiple: 0.87×
• Total profit: $-6,217
• Equity at exit: $14,698

Cash invested: $47,600 (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 33408

• Rents YoY: 0.3%
• Active inventory: 400
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $3,410 high
• Mortgage (P&I): −$891
• Tax from tax record: −$216 /mo · $2,592/yr
• Insurance: −$71
• HOA: −$1,097
• Vacancy / Maint / Mgmt: −$716
• Net cashflow: $419

Break-even live

Break-even rent $2,880

Max offer price $170,000

Occupancy floor 83%

Sensitivity live

Price	-10% $515	-5% $467	+0% $419	+5% $370	+10% $322
Rent	-10% $149	-5% $284	+0% $419	+5% $553	+10% $688
Rate	-1.0pp $504	-0.5pp $462	base $419	+0.5pp $375	+1.0pp $330

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Yacht Club Dr #405 North Palm Beach, FL	2.0	2.0	1010	$3,000	$2.97	25d	1	0.25mi
700 Sanctuary Cove Dr West Palm Beach, FL	1.0–3.0	1.0–2.0	1120	$2,596	$2.32	0d	55	0.90mi
526 Eastwind Dr Unit 526 North Palm Beach, FL	2.0	1.0	840	$3,995	$4.76	25d	1	0.98mi
524 Eastwind Dr Unit 524 North Palm Beach, FL	2.0	1.0	774	$3,995	$5.16	25d	1	0.98mi
522 Eastwind Dr North Palm Beach, FL	2.0	2.0	948	$3,995	$4.21	25d	1	0.98mi
624 Southwind Cir #2 North Palm Beach, FL	2.0	2.0	718	$3,750	$5.22	25d	1	1.15mi
2100 PGA Blvd Palm Beach Gardens, FL	1.0–2.0	1.0–2.0	983	$3,113	$3.17	0d	9	1.17mi
913 Lighthouse Dr North Palm Beach, FL	3.0	2.5	1092	$5,900	$5.40	25d	1	1.21mi
308 Southwind Ct Unit 8 North Palm Beach, FL	2.0	2.0	1100	$2,900	$2.64	25d	1	1.26mi
2396 Easy St Unit A Palm Beach Gardens, FL	2.0	1.0	948	$3,500	$3.69	25d	1	1.27mi
2545 Conroy Dr West Palm Beach, FL	3.0	2.0	1066	$3,295	$3.09	25d	1	1.34mi

HOA detail condo

• Monthly dues: $1,097 · $13,164/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 43 events

1. 2026-06-18
   days on market $170,000 Active 135 DOM
2. 2026-06-17
   days on market $170,000 Active 134 DOM
3. 2026-06-16
   days on market $170,000 Active 133 DOM
4. 2026-06-15
   days on market $170,000 Active 132 DOM
5. 2026-06-13
   days on market $170,000 Active 130 DOM
6. 2026-06-09
   days on market $170,000 Active 126 DOM
7. 2026-06-07
   days on market $170,000 Active 124 DOM
8. 2026-06-04
   days on market $170,000 Active 121 DOM
9. 2026-06-03
   days on market $170,000 Active 120 DOM
10. 2026-06-01
    days on market $170,000 Active 118 DOM
11. 2026-05-31
    days on market $170,000 Active 117 DOM
12. 2026-02-24
    price $170,000 664-char remark

    Show marketing remark (664 chars)

    Discover the potential of this 2-bedroom, 1/1 bath condo ideally located near the marina and golf course. This property is a blank canvas, ready for your vision and renovations to bring it to life. With no rental restrictions, it offers outstanding flexibility for investors, seasonal residents, or buyers looking to create a custom coastal retreat. Enjoy close proximity to boating, dining, shopping, and outdoor recreation while adding value through updates and improvements. Whether you're searching for a value-add opportunity, vacation rental, or personal project, this condo presents a rare chance to own in a highly desirable location with unlimited upside.

13. 2026-02-24
    price $170,000

    Show marketing remark (664 chars)

    Discover the potential of this 2-bedroom, 1/1 bath condo ideally located near the marina and golf course. This property is a blank canvas, ready for your vision and renovations to bring it to life. With no rental restrictions, it offers outstanding flexibility for investors, seasonal residents, or buyers looking to create a custom coastal retreat. Enjoy close proximity to boating, dining, shopping, and outdoor recreation while adding value through updates and improvements. Whether you're searching for a value-add opportunity, vacation rental, or personal project, this condo presents a rare chance to own in a highly desirable location with unlimited upside.

14. 2026-02-03
    listed $175,000 Active 664-char remark

    Show marketing remark (664 chars)

    Discover the potential of this 2-bedroom, 1/1 bath condo ideally located near the marina and golf course. This property is a blank canvas, ready for your vision and renovations to bring it to life. With no rental restrictions, it offers outstanding flexibility for investors, seasonal residents, or buyers looking to create a custom coastal retreat. Enjoy close proximity to boating, dining, shopping, and outdoor recreation while adding value through updates and improvements. Whether you're searching for a value-add opportunity, vacation rental, or personal project, this condo presents a rare chance to own in a highly desirable location with unlimited upside.

15. 2026-02-02
    listed $175,000 Active
16. 2024-05-30
    historical
17. 2024-03-14
    historical $1,795
18. 2024-03-01
    listed $1,795
19. 2024-03-01
    historical $1,795
20. 2024-02-06
    price $1,795
21. 2024-02-03
    listed $1,895
22. 2024-02-03
    historical $1,895
23. 2024-01-18
    listed $1,895
24. 2024-01-10
    listed $235,000 Active
25. 2023-05-05
    historical
26. 2023-05-05
    historical
27. 2023-03-02
    listed $254,900 Active
28. 2023-03-01
    listed $254,900 Active
29. 2017-09-01
    soldstatus $129,900
30. 2017-08-31
    soldstatus $129,900 Closed
31. 2017-08-09
    status Pending
32. 2017-08-01
    listed $129,900 Active
33. 2016-01-10
    historical
34. 2015-12-23
    listed $125,000 Active
35. 2014-01-03
    historical
36. 2013-08-27
    listed $57,250
37. 2013-08-27
    historical
38. 2011-05-22
    historical
39. 2010-12-03
    listed $79,900
40. 2000-02-17
    soldstatus $51,000
41. 2000-01-12
    soldstatus $51,000
42. 1999-12-17
    historical
43. 1999-04-30
    listed $60,000

ⓘ 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: $2,592 · $216/mo
• Projected year-2 tax: $2,592 · $216/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 6/10 Major FEMA zone X (unshaded) · 54% chance over 30 yrs
• 🔥 Wildfire 4/10 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,920
• − Mortgage interest: −$9,523
• − Property taxes: −$2,592
• − Insurance: −$850
• − Repairs & maintenance: −$3,274
• − Management: −$3,274
• − HOA: −$13,164
• − Depreciation: −$4,945
• Taxable income: $3,299
• Est. tax owed @ 24.0%: −$792
• After-tax cash flow: $4,231/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 — North Palm Beach

• Score: 77/100
• State rank: #184
• US rank: #2894

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 18,817
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 18,817
• Household income: $92,216
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 835.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 7% Black 1% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 4% Slovak 3% Romanian 3%
• Foreign-born: 11% · Canada, Jamaica, Guatemala
• Languages at home: 89% English-only · Spanish 7% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -223.14%
• Current HPI: 365.2913
• Rent YoY: ▲ 0.27%
• 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

+183.3% since first listed

32 events — show timeline

• 2026-02-24 Price Changed $170,000 Beaches MLS
• 2026-02-24 Price Changed $170,000 MARMLS
• 2026-02-03 Listed $175,000 Beaches MLS
• 2026-02-02 Listed $175,000 MARMLS
• 2024-05-30 Listing Removed — MARMLS
• 2024-03-14 Rental Removed $1,795 APPFOLIO
• 2024-03-01 Listed for Rent $1,795 APPFOLIO
• 2024-03-01 Rental Removed $1,795 GFLMLS
• 2024-02-06 Price Changed $1,795 GFLMLS
• 2024-02-03 Listed for Rent $1,895 GFLMLS
• 2024-02-03 Rental Removed $1,895 APPFOLIO
• 2024-01-18 Listed for Rent $1,895 APPFOLIO
• 2024-01-10 Listed $235,000 MARMLS
• 2023-05-05 Listing Removed — MARMLS
• 2023-05-05 Listing Removed — Beaches MLS
• 2023-03-02 Listed $254,900 Beaches MLS
• 2023-03-01 Listed $254,900 MARMLS
• 2017-09-01 Sold (Public Records) $129,900 Public Records
• 2017-08-31 Sold (MLS) $129,900 Beaches MLS
• 2017-08-09 Pending — Beaches MLS
• 2017-08-01 Listed $129,900 Beaches MLS
• 2016-01-10 Listing Removed — Beaches MLS
• 2015-12-23 Listed $125,000 Beaches MLS
• 2014-01-03 Listing Removed — Beaches MLS
• 2013-08-27 Listing Removed — Beaches MLS
• 2013-08-27 Listed $57,250 Beaches MLS
• 2011-05-22 Listing Removed — Beaches MLS
• 2010-12-03 Listed $79,900 Beaches MLS
• 2000-02-17 Sold (Public Records) $51,000 Public Records
• 2000-01-12 Sold (MLS) $51,000 Beaches MLS
• 1999-12-17 Listing Removed — Beaches MLS
• 1999-04-30 Listed $60,000 Beaches MLS

Property tax history

+9.7%/yr

Latest (2025): $2,592 · -13.0% YoY. Source: county tax records.