118 E Salisbury E #118 · Schall Circle, FL 33417

$99,000

1 bd · 1.0 ba · 570 sqft · Condo · 185 Days on market

Built 1969 $350/mo HOA · 25% of rent

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Why this score? — see what drove the C- 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 +17.7/30.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Schools +4.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

IMMACULATE 2ND FL. UNIT. TOTALLY UPGRADED INCLUDING APPLIANCES, COUNTER TOPS, KITCHEN FL. SINK, CARPETING, WATER HEATER & ALL ELECTRICAL WIRING. A/C, RENTABLE BUILDING, NEAR THE EAST GATE AND CLUBHOUSE. THIS CONDO HAS BEEN WELL TAKEN CARE OF. TXT LISTING AGENT FOR SHOWINGS

Key facts

• Rentable building
• Clubhouse
• Near the east gate

Tags

• RENTABLE BUILDING
• NEAR THE EAST GATE
• CLUBHOUSE

Property features AI

Finance

• Financial info: Monthly land lease of $165; Lease considered; Pets allowed with conditions or restrictions
• HOA & community: Monthly association fee of $350; Located in a senior community

Exterior

• Parking: Has a carport; One covered parking space
• Home design: 2-story property; Entry is on level 2; Effective year built (updated)
• Construction: Block construction
• Exterior features: Property has attached unit

Interior

• Bathrooms: 1 full bathroom
• Interior features: Other interior features (unspecified)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $79 ($951/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#762 in FL) — a middle-class / working-renter tenant base. Strengths: housing A, cost of living A-; Watch: schools 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.
• Market conditions: Rents flat; 473 active listings in the ZIP; 40 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).
• This rent runs 33% of the median local income ($52k/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 $684 of loan paydown is wiped out by about $3k 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 185 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y ago; this cycle's ask has dropped $16k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 25% 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 $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 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 1969 — 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 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?
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: 1.42% ✓
• Cap rate: 7.25%
• Cash-on-cash: 3.43%
• DSCR: 1.15
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.02% rent growth · sell at horizon

5-year hold

• IRR: -15.7%
• Equity multiple: 0.46×
• Total profit: $-14,861
• Equity at exit: $14,761

10-year hold

• IRR: -17.6%
• Equity multiple: 0.23×
• Total profit: $-21,344
• Equity at exit: $8,560

Cash invested: $27,720 (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 33417

• Home prices YoY: -29.2%
• Rents YoY: 0.0%
• Active inventory: 473
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,409 high
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$350
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $79

Break-even live

Break-even rent $1,309

Max offer price $99,000

Occupancy floor 89%

Sensitivity live

Price	-10% $148	-5% $113	+0% $79	+5% $45	+10% $11
Rent	-10% $-32	-5% $24	+0% $79	+5% $135	+10% $191
Rate	-1.0pp $129	-0.5pp $104	base $79	+0.5pp $54	+1.0pp $28

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 Stratford N West Palm Beach, FL	1.0	1.5	740	$1,600	$2.16	19d	1	0.35mi
294 Chatham S Unit O West Palm Beach, FL	1.0	1.0	645	$1,300	$2.02	25d	1	0.44mi
358 Chatham R Unit R West Palm Beach, FL	1.0	1.5	684	$1,295	$1.89	25d	1	0.45mi
358 Chatham R Unit R West Palm Beach, FL	1.0	1.5	684	$1,200	$1.75	19d	1	0.45mi
150 Bedford E West Palm Beach, FL	1.0	1.0	570	$1,375	$2.41	8d	1	0.56mi
51 Dorchester E Unit 51 West Palm Beach, FL	1.0	1.0	570	$1,400	$2.46	25d	1	0.57mi
145 Dorchester E Unit 145 West Palm Beach, FL	1.0	1.5	646	$1,300	$2.01	8d	1	0.57mi
22 Andover a West Palm Beach, FL	1.0	1.5	684	$1,375	$2.01	25d	1	0.60mi
34 Andover B West Palm Beach, FL	1.0	1.0	602	$1,250	$2.08	0d	1	0.62mi
142 Kent I West Palm Beach, FL	1.0	1.5	684	$1,475	$2.16	25d	1	0.63mi
100 Andover D West Palm Beach, FL	1.0	1.5	684	$1,400	$2.05	25d	1	0.64mi
49 Cambridge B Unit B West Palm Beach, FL	1.0	1.5	684	$1,450	$2.12	25d	1	0.65mi
49 Cambridge B Unit B West Palm Beach, FL	1.0	1.5	684	$1,350	$1.97	3d	1	0.65mi
17 Cambridge a West Palm Beach, FL	1.0	1.5	684	$1,200	$1.75	25d	1	0.65mi
132 Andover F Unit 132 West Palm Beach, FL	1.0	1.5	684	$1,400	$2.05	25d	1	0.65mi
118 Kent H West Palm Beach, FL	1.0	1.0	570	$1,325	$2.32	25d	1	0.66mi
311 Andover M West Palm Beach, FL	1.0	1.5	684	$1,400	$2.05	25d	1	0.67mi
311 Andover M Unit M West Palm Beach, FL	1.0	1.5	684	$1,400	$2.05	25d	1	0.67mi
107 Kent St Unit 107* West Palm Beach, FL	1.0	1.0	570	$1,500	$2.63	25d	1	0.68mi
11 Cambridge E Unit 11 West Palm Beach, FL	1.0	1.5	684	$1,500	$2.19	25d	1	0.68mi
188 Cambridge H Unit H West Palm Beach, FL	1.0	1.5	684	$1,345	$1.97	6d	1	0.69mi
325 Andover E West Palm Beach, FL	1.0	1.0	532	$1,450	$2.73	25d	1	0.70mi
326 Andover E West Palm Beach, FL	1.0	1.5	684	$1,490	$2.18	25d	1	0.71mi
210 Canterbury E Unit 1 West Palm Beach, FL	1.0	1.0	570	$1,375	$2.41	13d	1	0.73mi
175 Canterbury H #175 West Palm Beach, FL	1.0	1.0	570	$1,250	$2.19	15d	1	0.73mi
204 Canterbury I Unit I West Palm Beach, FL	1.0	1.0	570	$1,350	$2.37	25d	1	0.73mi
201 Canterbury I Unit I West Palm Beach, FL	1.0	1.0	570	$1,250	$2.19	25d	1	0.73mi
3 Berkshire a West Palm Beach, FL	1.0	1.0	585	$1,900	$3.25	25d	1	0.74mi
89 Berkshire D #89 West Palm Beach, FL	1.0	1.0	585	$1,150	$1.97	25d	1	0.77mi
89 Berkshire D #89 West Palm Beach, FL	1.0	1.0	585	$1,050	$1.79	8d	1	0.77mi
92 Berkshire Cres Unit 92 West Palm Beach, FL	1.0	1.0	615	$1,350	$2.20	25d	1	0.77mi
216 Berkshire K Unit K West Palm Beach, FL	1.0	1.0	585	$1,400	$2.39	21d	1	0.77mi
231 Berkshire K #231 West Palm Beach, FL	1.0	1.0	585	$1,150	$1.97	3d	1	0.78mi
220 Berkshire K #220 West Palm Beach, FL	1.0	1.0	585	$1,300	$2.22	21d	1	0.79mi
333 Northampton Q Unit 333 West Palm Beach, FL	1.0	1.0	570	$1,300	$2.28	25d	1	0.79mi
179 Berkshire I Unit I West Palm Beach, FL	1.0	1.0	585	$1,225	$2.09	25d	1	0.81mi
235 Northampton L #235 West Palm Beach, FL	1.0	1.0	615	$1,300	$2.11	11d	1	0.82mi
157 Camden G West Palm Beach, FL	1.0	1.5	646	$1,350	$2.09	25d	1	0.83mi
166 Sussex I Unit I West Palm Beach, FL	1.0	1.0	570	$1,500	$2.63	25d	1	0.84mi
4 Sussex a West Palm Beach, FL	1.0	1.0	615	$1,350	$2.20	15d	1	0.84mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Likely covers: waterelectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $99,000 Active 185 DOM
2. 2026-06-17
   days on market $99,000 Active 184 DOM
3. 2026-06-16
   days on market $99,000 Active 183 DOM
4. 2026-06-15
   days on market $99,000 Active 182 DOM
5. 2026-06-13
   days on market $99,000 Active 180 DOM
6. 2026-06-09
   days on market $99,000 Active 176 DOM
7. 2026-06-07
   days on market $99,000 Active 174 DOM
8. 2026-06-04
   days on market $99,000 Active 171 DOM
9. 2026-06-03
   days on market $99,000 Active 170 DOM
10. 2026-06-01
    days on market $99,000 Active 168 DOM
11. 2026-05-31
    days on market $99,000 Active 167 DOM
12. 2026-05-07
    price $99,000
13. 2026-03-05
    price $110,000
14. 2025-12-15
    listed $115,000 Active
15. 2025-06-26
    historical
16. 2024-05-29
    price $150,000
17. 2024-04-25
    price $99,000
18. 2024-03-22
    historical $1,300
19. 2024-03-06
    price $165,000
20. 2023-11-15
    price $1,499
21. 2023-11-15
    price $1,700
22. 2023-09-30
    listed $1,800
23. 2023-05-18
    listed $180,000 Active
24. 2022-06-24
    soldstatus $120,000 Closed
25. 2022-06-01
    status Pending
26. 2022-03-24
    listed $125,000 Active
27. 2021-12-09
    soldstatus $89,000 Closed
28. 2021-11-15
    status Pending
29. 2021-10-11
    listed $89,000 Active
30. 2006-11-29
    historical
31. 2006-08-04
    listed $57,000

ⓘ 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 2/10 Low
• 🌡 Heat 10/10 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,913
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$1,353
• − Management: −$1,353
• − HOA: −$4,200
• − Depreciation: −$2,880
• Taxable loss: −$399
• Est. tax savings @ 24.0%: +$96
• After-tax cash flow: $1,047/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 — Schall Circle

• Score: 62/100
• State rank: #762
• US rank: #16849

Category grades

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

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): 38,079
• Household income: $51,605
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 2548.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 34% Black 30% Hispanic / Latino 27% Two or more races 16% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Cuban 5% Dominican 2%
• Common ancestry: Hispanic 10% Romanian 3% Scotch-Irish 1%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 58% English-only · Spanish 24% French/Haitian/Cajun 11% Other Indo-European 3%

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: ▼ -138.62%
• Current HPI: 335.8396
• Rent YoY: ▬ 0.02%
• 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

+73.7% since first listed

20 events — show timeline

• 2026-05-07 Price Changed $99,000 MARMLS
• 2026-03-05 Price Changed $110,000 MARMLS
• 2025-12-15 Listed $115,000 MARMLS
• 2025-06-26 Listing Removed — MARMLS
• 2024-05-29 Price Changed $150,000 MARMLS
• 2024-04-25 Price Changed $99,000 MARMLS
• 2024-03-22 Rental Removed $1,300 MARMLS
• 2024-03-06 Price Changed $165,000 MARMLS
• 2023-11-15 Price Changed $1,499 MARMLS
• 2023-11-15 Price Changed $1,700 MARMLS
• 2023-09-30 Listed for Rent $1,800 MARMLS
• 2023-05-18 Listed $180,000 MARMLS
• 2022-06-24 Sold (MLS) $120,000 MARMLS
• 2022-06-01 Pending — MARMLS
• 2022-03-24 Listed $125,000 MARMLS
• 2021-12-09 Sold (MLS) $89,000 MARMLS
• 2021-11-15 Pending — MARMLS
• 2021-10-11 Listed $89,000 MARMLS
• 2006-11-29 Listing Removed — Beaches MLS
• 2006-08-04 Listed $57,000 Beaches MLS