3650 Whitehall Dr #202 · West Palm Beach, FL 33401

$200,000

2 bd · 2.0 ba · 1,442 sqft · Condo public records · 240 Days on market

Built 1984 $642/mo HOA · 18% 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 +28.8/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Beautiful 2-bedroom, 2-bathroom apartment with ADDITIONAL room that may be used as a den/office. Renovated unit with newer appliances, flooring, paint, impact windows and water heater. Almost 1,400 SF of living space and low HOA fees. This unit can be rented immediately, or it is ready for new owner to make it their home. Whitehall is a gated community with 24 hour security. The community features a large clubhouse and Olympic sized swimming pool. Close proximity to Tanger Outlets and Whole Foods. Minutes to downtown West Palm Beach and Palm Beach International Airport. BRAND NEW AC JUST INSTALLED.

Key facts

• Gated community
• Newer appliances
• Large clubhouse

Tags

• RENOVATED UNIT
• NEWER APPLIANCES
• IMPACT WINDOWS
• GATED COMMUNITY
• 24 HOUR SECURITY
• LARGE CLUBHOUSE

Property features AI

Finance

• Financial info: Pets allowed with possible restrictions, number and size limits may apply
• HOA & community: Community of 336 units; Monthly HOA fee; Association amenities include clubhouse, elevators, on-site manager, pool, library, lobby, parking, manager on site, street lights; HOA fee includes cable TV, insurance, grounds maintenance, security, sewer, water, and common area maintenance

Exterior

• Parking: Assigned parking; Guest parking
• Security: Closed-circuit cameras; Gated with guard; Security fence; Security lights; Security patrol; Smoke detectors
• Utilities: Public water; Public sewer; Cable available; Sewer available; Water available
• Home design: Condominium; 4-story building; Faces south; Resale unit
• Construction: CBS construction
• Exterior features: Not waterfront; Gated community

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Split bedroom layout
• Laundry & utility: Indoor 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 $672 ($8k/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: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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.
• Market conditions: Rents rising fast (+5.2%/yr); 507 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• At $3,497/mo this rent would consume 62% of the median local household income ($68k/yr) (locally 2953% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 240 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $40k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $118k; list at $200k implies a 69% 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 5→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 240 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.75% ✓
• Cap rate: 10.33%
• Cash-on-cash: 14.40%
• DSCR: 1.64
• GRM: 4.8

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: 8.2%
• Equity multiple: 1.33×
• Total profit: $18,616
• Equity at exit: $29,821

10-year hold

• IRR: 19.8%
• Equity multiple: 2.90×
• Total profit: $106,453
• Equity at exit: $17,292

Cash invested: $56,000 (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 33401

• Rents YoY: 5.2%
• Active inventory: 507
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,497 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$317 /mo · $3,798/yr
• Insurance: −$83
• HOA: −$642
• Vacancy / Maint / Mgmt: −$734
• Net cashflow: $672

Break-even live

Break-even rent $2,646

Max offer price $200,000

Occupancy floor 76%

Sensitivity live

Price	-10% $785	-5% $729	+0% $672	+5% $616	+10% $559
Rent	-10% $396	-5% $534	+0% $672	+5% $810	+10% $948
Rate	-1.0pp $773	-0.5pp $723	base $672	+0.5pp $620	+1.0pp $568

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3590 Village Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1074	$2,785	$2.59	0d	30	0.49mi
195 River Grove Way West Palm Beach, FL	3.0	1.0–2.0	958	$3,192	$3.33	0d	18	0.55mi
2480 Presidential Way #1903 West Palm Beach, FL	2.0	2.0	1855	$4,650	$2.51	25d	1	0.81mi
2480 Presidential Way #902 West Palm Beach, FL	2.0	2.0	1855	$4,650	$2.51	6d	1	0.81mi
2450 Presidential Way #7 West Palm Beach, FL	2.0	2.0	1855	$4,700	$2.53	3d	1	0.83mi
2450 Presidential Way #7 West Palm Beach, FL	2.0	2.0	1855	$4,700	$2.53	25d	1	0.83mi
2400 Presidential Way #1906 West Palm Beach, FL	1.0	2.0	1294	$3,000	$2.32	25d	1	0.91mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	25d	1	0.96mi
5649 Mentmore Dr Riviera Beach, FL	3.0	2.5	1450	$2,900	$2.00	25d	1	1.00mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	17d	1	1.01mi
1721 Lindley St Mangonia Park, FL	3.0	2.5	1760	$3,300	$1.88	9d	1	1.06mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$2,528	$2.07	19d	60	1.17mi
1900 Consulate Pl #1005 West Palm Beach, FL	2.0	2.0	1557	$4,900	$3.15	16d	1	1.17mi
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	25d	1	1.23mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	25d	1	1.35mi
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	25d	1	1.38mi
4567 Brook Dr West Palm Beach, FL	3.0	2.0	1528	$3,000	$1.96	25d	1	1.49mi

HOA detail condo

• Monthly dues: $642 · $7,704/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-08
   status $200,000 Pending 240 DOM
2. 2026-06-07
   statusdays on market $200,000 Active Under Contract 240 DOM
3. 2026-06-04
   days on market $200,000 Active 237 DOM
4. 2026-06-03
   days on market $200,000 Active 236 DOM
5. 2026-06-01
   days on market $200,000 Active 234 DOM
6. 2026-05-31
   days on market $200,000 Active 233 DOM
7. 2026-05-04
   status Active
8. 2026-03-19
   historical Active Under Contract
9. 2026-02-15
   price $200,000
10. 2026-01-11
    price $205,000
11. 2025-12-02
    price $225,000
12. 2025-10-30
    price $229,900
13. 2025-10-18
    price $235,000
14. 2025-10-10
    listed $239,900 Active
15. 2024-08-06
    historical $2,250
16. 2024-08-02
    listed $2,250
17. 2021-02-10
    soldstatus $118,400
18. 1984-03-01
    soldstatus $62,900

ⓘ 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: $3,798 · $317/mo
• Projected year-2 tax: $3,798 · $317/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 5 d/yr ≥105°F today · 17 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: $41,967
• − Mortgage interest: −$11,203
• − Property taxes: −$3,798
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,357
• − Management: −$3,357
• − HOA: −$7,704
• − Depreciation: −$5,818
• Taxable income: $5,729
• Est. tax owed @ 24.0%: −$1,375
• After-tax cash flow: $6,691/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

+218.0% since first listed

12 events — show timeline

• 2026-05-04 Relisted — Beaches MLS
• 2026-03-19 Contingent — Beaches MLS
• 2026-02-15 Price Changed $200,000 Beaches MLS
• 2026-01-11 Price Changed $205,000 Beaches MLS
• 2025-12-02 Price Changed $225,000 Beaches MLS
• 2025-10-30 Price Changed $229,900 Beaches MLS
• 2025-10-18 Price Changed $235,000 Beaches MLS
• 2025-10-10 Listed $239,900 Beaches MLS
• 2024-08-06 Rental Removed $2,250 GFLMLS
• 2024-08-02 Listed for Rent $2,250 GFLMLS
• 2021-02-10 Sold (Public Records) $118,400 Public Records
• 1984-03-01 Sold (Public Records) $62,900 Public Records

Property tax history

+14.4%/yr

Latest (2025): $3,798 · +4.4% YoY. Source: county tax records.