8164 Sandpiper Way · West Palm Beach, FL 33412

$449,000

3 bd · 2.0 ba · 1,866 sqft · Townhouse public records · 9 Days on market

Built 1998 4,395 sqft lot $704/mo HOA · 15% of rent

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Why this score? — see what drove the D+ 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 +16.6/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• DSCR +5.1/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

IMMEDIATE PREMIER GOLF MEMBERSHIP AVAILABLE WITH THE PURCHASE OF THIS HOME. Move right into effortless, turnkey living in this furnished and beautifully renovated residence located in the desirable Sandpiper Cove neighborhood within the Platinum Club of America, The Club at Ibis. Offering both style and peace of mind, the home features a NEW ROOF (2021) along with accordion hurricane shutters, making it an exceptional opportunity for easy Florida living.This thoughtfully updated 3-bedroom, 2-bath home is filled with designer touches throughout, including designer light fixtures and fans and a versatile den/third bedroom enhanced with custom built-in office desk and shelving. The kitchen has been refreshed with refaced cabinetry, additional custom cabinetry, and replaced quartz tops. Bathroom updates include new vanities installed in 2019, while the primary bath shower was replaced in 2022, along with a new hot water heater. Additional upgrades further elevate the home's comfort and quality, including a hurricane-impact front door with expertly etched glass for privacy and aesthetic appeal, a 4-ton HVAC system installed in 2018 by Stephen K. Denney, Inc., and a UV air-quality system installed by Service Experts to enhance indoor air quality. Step outside to enjoy a private screened patio finished with Artistic Concrete pavers, providing a tranquil space for morning coffee or evening relaxation. Located within Sandpiper Cove, an intimate enclave within walking distance of The Club at Ibis, residents enjoy exclusive access to the Sandpiper Cove community pool along with the unparalleled lifestyle Ibis is known for. Ownership includes access to a 90,000-square-foot clubhouse, three Nicklaus-family championship golf courses, five dining venues, a state-of-the-art fitness complex and spa, and premier tennis and pickleball facilities. Beautifully furnished, thoughtfully upgraded, and ideally located this residence offers a rare opportunity to enjoy refined club living with Immediate Premier Golf privileges available. IBIS MEMBERSHIP FEES ARE INCREASING. BUYERS WHO GO UNDER CONTRACT BY APRIL 1, 2026 AND CLOSE BY JUNE 12, 2026 CAN SAVE A MINIMUM OF $30,000.

Key facts

• Refaced cabinetry
• Custom built-in desk
• New roof

Tags

• NEW ROOF
• ACCORDION HURRICANE PROTECTION
• CUSTOM BUILT-IN DESK
• REFACED CABINETRY
• UPDATED BATHROOM VANITIES
• REMODELED PRIMARY SHOWER

Property features AI

Finance

• Other: Pets allowed with possible restrictions and number limits
• HOA & community: Association membership (Sandpiper Cove - CN Enterprises, Inc.; The Club at Ibis - POA); Quarterly HOA dues; HOA covers cable TV and grounds maintenance; Community amenities include clubhouse, fitness center, spa/hot tub, golf course access, beach club availability, tennis courts, pickleball and bocce courts, putting green, basketball court, playground, and dog park

Exterior

• Parking: Attached 2-car garage; Two covered parking spaces (total 2)
• Security: Gated community with guard; Security system
• Utilities: Public water; Public sewer; Electricity connected (three-phase); Natural gas available; Cable available
• Home design: Townhouse; Single-story; Resale property; Faces west
• Construction: CBS construction; Spanish tile roof; Built by Ecclestone Signature Homes
• Exterior features: Screened patio; Patio

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator; Garbage disposal; Gas water heater
• Bedrooms: Three bedrooms on the main level
• Flooring: Carpet; Ceramic tile; Vinyl
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: Cathedral and vaulted ceilings with high ceilings; Walk-in closets; Split bedroom layout; Drapes and plantation shutters
• Laundry & utility: Laundry located inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $449k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $449k).
• Cap rate 7.0% 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: Pierce Hammock Elementary School (math 69% / reading 73%, grade A-, #320 of 2,144 statewide, top 15%, 468 students, 35% FRL); Western Pines Community Middle (math 66% / reading 64%, grade A-, #99 of 571 statewide, top 17%, 991 students, 42% FRL); Seminole Ridge Community High School (math 36% / reading 56%, grade D-, #220 of 667 statewide, top 33%, 2,262 students, 36% FRL).
• Market conditions: Rents rising (+3.9%/yr); 383 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 ($130k/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 $3k of loan paydown is wiped out by about $13k 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 24y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $449,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.06% ✓
• Cap rate: 7.01%
• Cash-on-cash: 2.56%
• DSCR: 1.11
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.85% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.59×
• Total profit: $-51,319
• Equity at exit: $66,947

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-4,446
• Equity at exit: $38,821

Cash invested: $125,720 (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 33412

• Home prices YoY: -18.2%
• Rents YoY: 3.9%
• Active inventory: 383
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $4,739 medium
• Mortgage (P&I): −$2,355
• Tax from tax record: −$230 /mo · $2,764/yr
• Insurance: −$187
• HOA: −$704
• Vacancy / Maint / Mgmt: −$995
• Net cashflow: $268

Break-even live

Break-even rent $4,400

Max offer price $449,000

Occupancy floor 89%

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8180 Sandpiper Way West Palm Beach, FL	2.0	2.0	1866	$12,500	$6.70	24d	1	0.02mi
8189 Sandpiper Way West Palm Beach, FL	3.0	2.5	1842	$10,500	$5.70	11d	1	0.04mi
8193 Sandpiper Way West Palm Beach, FL	3.0	2.0	1367	$13,000	$9.51	22d	1	0.05mi
8141 Sandpiper Way West Palm Beach, FL	3.0	2.0	1842	$10,500	$5.70	11d	1	0.07mi
8176 Quail Meadow Way West Palm Beach, FL	3.0	2.5	2146	$12,500	$5.82	24d	1	0.28mi
8161 Quail Meadow Way West Palm Beach, FL	3.0	2.0	1632	$11,000	$6.74	24d	1	0.31mi
8316 Quail Meadow Way West Palm Beach, FL	3.0	2.5	2118	$14,000	$6.61	18d	1	0.32mi
8307 Quail Meadow Way West Palm Beach, FL	3.0	2.5	2146	$18,250	$8.50	7d	1	0.34mi
8407 Quail Meadow Way West Palm Beach, FL	3.0	3.0	2047	$14,000	$6.84	24d	1	0.34mi
8232 Heritage Club Dr West Palm Beach, FL	3.0	2.5	2248	$17,500	$7.78	24d	1	0.43mi
8216 Heritage Club Dr West Palm Beach, FL	4.0	4.0	2556	$22,000	$8.61	24d	1	0.43mi
8452 Legend Club Dr West Palm Beach, FL	3.0	2.5	2344	$15,000	$6.40	24d	1	0.49mi
8400 Heritage Club Dr West Palm Beach, FL	4.0	3.0	2535	$14,000	$5.52	24d	1	0.55mi
8671 Falcon Green Dr West Palm Beach, FL	3.0	3.0	2471	$8,400	$3.40	24d	1	0.77mi
8300 Ibis Reserve Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1162	$2,879	$2.48	1d	27	0.79mi
10732 Grande Blvd West Palm Beach, FL	3.0	2.5	2200	$11,000	$5.00	24d	1	1.08mi
10365 Terra Lago Dr West Palm Beach, FL	3.0	2.5	2273	$13,250	$5.83	24d	1	1.19mi
10156 Orchid Reserve Dr West Palm Beach, FL	3.0	2.0	1964	$16,000	$8.15	24d	1	1.26mi
10836 Grande Blvd West Palm Beach, FL	3.0	2.0	1973	$5,000	$2.53	24d	1	1.26mi

HOA detail

• Monthly dues: $704 · $8,448/yr
• Likely covers: waterpool

Listing history 7 events

1. 2026-06-18
   days on market $449,000 Active 9 DOM
2. 2026-06-17
   days on market $449,000 Active 8 DOM
3. 2026-06-16
   days on market $449,000 Active 7 DOM
4. 2026-06-15
   days on market $449,000 Active 6 DOM
5. 2026-06-13
   days on market $449,000 Active 4 DOM
6. 2026-06-10
   remarks 699-char remark
7. 2026-06-10
   listed $449,000 Active 1 DOM

ⓘ 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: $2,764 · $230/mo
• Projected year-2 tax: $3,727 · $311/mo
• Expected delta: +$963/yr (+$80/mo · 34.8%)

ⓘ 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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,867
• − Mortgage interest: −$25,151
• − Property taxes: −$2,764
• − Insurance: −$2,245
• − Repairs & maintenance: −$4,549
• − Management: −$4,549
• − HOA: −$8,448
• − Depreciation: −$13,062
• Taxable loss: −$3,902
• Est. tax savings @ 24.0%: +$936
• After-tax cash flow: $4,149/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): 15,859
• Household income: $130,225
• Rent vs Own: 14.3% rent · 85.7% own
• Severe rent burden: 81.0

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 (72%)
• Race & ethnicity: White 72% Black 11% Hispanic / Latino 11% Two or more races 8% Asian 3%
• Hispanic origin (detail): Puerto Rican 4% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 4% German 2%
• Foreign-born: 16% · Canada, Jamaica, China
• Languages at home: 84% English-only · Spanish 5% French/Haitian/Cajun 5% 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: ▼ -79.82%
• Current HPI: 358.0854
• Rent YoY: ▲ 3.85%
• 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

+165.1% since first listed

16 events — show timeline

• 2026-06-09 Listed $449,000 Beaches MLS
• 2026-05-18 Sold (MLS) $460,000 Beaches MLS
• 2026-03-12 Contingent — Beaches MLS
• 2026-02-23 Price Changed $490,000 Beaches MLS
• 2026-01-29 Listed $510,000 Beaches MLS
• 2014-10-13 Listing Removed — Beaches MLS
• 2007-02-03 Listed $299,000 Beaches MLS
• 2004-03-09 Sold (Public Records) $221,500 Public Records
• 2004-02-09 Sold (MLS) $221,500 Beaches MLS
• 2004-01-19 Listing Removed — Beaches MLS
• 2004-01-16 Listed $234,900 Beaches MLS
• 2002-09-20 Sold (Public Records) $178,000 Public Records
• 2002-07-10 Sold (MLS) $178,000 Beaches MLS
• 2002-05-13 Listing Removed — Beaches MLS
• 2002-03-27 Listed $185,000 Beaches MLS
• 1998-11-06 Sold (Public Records) $169,400 Public Records

Property tax history

-1.5%/yr

Latest (2025): $2,764 · +2.4% YoY. Source: county tax records.