2568 Sandy Cay · West Palm Beach, FL 33411

$469,000

3 bd · 2.0 ba · 1,540 sqft · Townhouse public records · 69 Days on market

Built 2002 5,662 sqft lot Est $410k · 14% over $361/mo HOA · 12% of rent

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +6.4/30.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• ARV discount +1.0/15.0
• DSCR +0.7/10.0

Listing remarks

This extended Malibu corner model is situated on a spacious lot in Brittany Bay. including Patio with brick pavers and fenced in yard. Open & bright layout, featuring hardwood flooring in the master bedroom and den, which can also serve as a third bedroom. Additional highlights include Hunter Douglas blinds, a built-in wall unit in the living room, extra high-hat lighting, and upgraded mirrors in the master bath.

Key facts

• Hardwood flooring
• Built-in wall unit
• Fenced in yard

Tags

• PATIO WITH BRICK PAVERS
• FENCED IN YARD
• HARDWOOD FLOORING
• BUILT-IN WALL UNIT
• EXTRA HIGH-HAT LIGHTING
• UPGRADED MIRRORS

Property features AI

Finance

• Other: Pets allowed (restrictions possible)
• HOA & community: HOA with amenities including clubhouse, fitness center, pool, spa/hot tub, parking, and maintained community; HOA fee $361 monthly (includes common area maintenance)

Exterior

• Parking: Attached 2-car garage; Driveway; 2 covered parking spaces
• Utilities: Public water; Public sewer; Electricity connected; Cable connected; Phone available
• Home design: Villa; Single-story; Faces southwest; Resale condition; Builder model: Malibu
• Construction: Concrete block with stucco construction; Barrel tile roof
• Exterior features: Corner lot; Private maintained road; Not waterfront

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric cooktop
• Bedrooms: 3 bedrooms on the main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Unfurnished
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $469k.

Deal economics

• At list price, monthly cash flow is $-814 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $325k (30.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $308k (34.4% below list).
• Recommended offer: $308k (34.4% below list) — sets the bar for 1% rule.

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: Benoist Farms Elementary School (math 22% / reading 28%, grade F, #2,030 of 2,144 statewide, top 95%, 421 students, 80% FRL); Jeaga Middle School (math 18% / reading 30%, grade F, #532 of 571 statewide, top 94%, 941 students, 78% 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 76% FRL vs 52% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 50% district-wide (-26 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 flat; 583 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 40% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $50k of equity ($3k loan paydown + $47k appreciation (10.0% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$81k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($441k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $303k; list at $469k implies a 55% 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; 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 $307,792 (34.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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 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: 0.66% ✗
• Cap rate: 4.21%
• Cash-on-cash: -7.44%
• DSCR: 0.67
• GRM: 12.7

CMA / ARV

• ARV (on-the-fly): $409,640
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2131 Man Of War	0.68mi	3/2.0	1,550 (+1%)	2mo	$377,000	$243	66
8597 Mangrove Cay	0.52mi	3/2.0	1,429 (-7%)	2mo	$380,000	$266	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: 18.5%
• Equity multiple: 2.50×
• Total profit: $197,137
• Equity at exit: $422,512

10-year hold

• IRR: 16.8%
• Equity multiple: 5.64×
• Total profit: $609,287
• Equity at exit: $911,164

Cash invested: $131,320 (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 33411

• Home prices YoY: 1.9%
• Rents YoY: 0.8%
• Active inventory: 583
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $3,078 high
• Mortgage (P&I): −$2,459
• Tax from tax record: −$229 /mo · $2,752/yr
• Insurance: −$195
• HOA: −$361
• Vacancy / Maint / Mgmt: −$646
• Net cashflow: $-814

Break-even live

Break-even rent $4,108

Max offer price $325,263

Occupancy floor —

Sensitivity live

Price	-10% $-548	-5% $-681	+0% $-814	+5% $-946	+10% $-1,079
Rent	-10% $-1,057	-5% $-935	+0% $-814	+5% $-692	+10% $-571
Rate	-1.0pp $-577	-0.5pp $-694	base $-814	+0.5pp $-935	+1.0pp $-1,059

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: $117,250
• Closing costs: $14,070
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2564 Sandy Cay West Palm Beach, FL	3.0	2.0	1974	$4,000	$2.03	26d	1	0.03mi
3910 Sandy Cay West Palm Beach, FL	3.0	2.0	1280	$2,140	$1.67	4d	1	0.13mi
2425 Pigeon Cay West Palm Beach, FL	3.0	2.0	1762	$3,540	$2.01	26d	1	0.36mi
8410 Cargill Pt West Palm Beach, FL	3.0	2.0	1421	$3,350	$2.36	26d	1	0.49mi
2312 Curley Cut West Palm Beach, FL	3.0	2.5	1972	$5,000	$2.54	26d	1	0.61mi
2146 Man of War West Palm Beach, FL	2.0	2.0	1209	$3,000	$2.48	26d	1	0.67mi
1990 Augustine Rd West Palm Beach, FL	1.0–2.0	1.0–2.0	1019	$2,567	$2.52	1d	15	0.70mi
2104 Tigris Dr Unit 2104 West Palm Beach, FL	3.0	2.5	1298	$2,990	$2.30	9d	1	0.70mi
2675 Clipper Cir West Palm Beach, FL	3.0	2.0	1984	$3,500	$1.76	9d	1	0.87mi
9041 Bay Harbour Cir West Palm Beach, FL	3.0	2.0	2018	$3,400	$1.68	5d	1	0.94mi
9041 Bay Harbour Cir West Palm Beach, FL	3.0	2.0	2018	$3,400	$1.68	18d	1	0.94mi
1566 Lake Crystal Dr West Palm Beach, FL	2.0	2.0	1200	$1,800	$1.50	26d	1	1.01mi
1566 Lake Crystal Dr West Palm Beach, FL	2.0	2.0	1200	$1,800	$1.50	20d	1	1.01mi
1561 Balfour Point Dr Unit B West Palm Beach, FL	3.0	2.0	1156	$2,250	$1.95	3d	1	1.02mi
1600 Windorah Way Unit C West Palm Beach, FL	3.0	2.0	1156	$2,290	$1.98	18d	1	1.07mi
7130 Okeechobee Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1086	$2,853	$2.63	0d	8	1.14mi
9315 Bridgeport Dr West Palm Beach, FL	2.0	2.0	1368	$2,600	$1.90	26d	1	1.19mi
9363 Bridgeport Dr West Palm Beach, FL	2.0	2.0	1368	$2,750	$2.01	6d	1	1.21mi
9391 Bridgeport Dr West Palm Beach, FL	3.0	2.0	1508	$4,200	$2.79	26d	1	1.23mi
125 Lake Nancy Dr #241 West Palm Beach, FL	2.0	2.0	1193	$1,900	$1.59	12d	1	1.34mi
2325 Sailfish Cove Dr West Palm Beach, FL	2.0	2.0	2008	$3,600	$1.79	26d	1	1.41mi

HOA detail

• Monthly dues: $361 · $4,332/yr

Listing history 17 events

1. 2026-06-21
   days on market $469,000 Active 69 DOM
2. 2026-06-18
   days on market $469,000 Active 66 DOM
3. 2026-06-17
   days on market $469,000 Active 65 DOM
4. 2026-06-16
   days on market $469,000 Active 64 DOM
5. 2026-06-15
   days on market $469,000 Active 63 DOM
6. 2026-06-13
   days on market $469,000 Active 61 DOM
7. 2026-06-09
   days on market $469,000 Active 57 DOM
8. 2026-06-08
   days on market $469,000 Active 56 DOM
9. 2026-06-07
   days on market $469,000 Active 55 DOM
10. 2026-06-04
    days on market $469,000 Active 52 DOM
11. 2026-06-03
    days on market $469,000 Active 51 DOM
12. 2026-06-02
    days on market $469,000 Active 50 DOM
13. 2026-06-01
    days on market $469,000 Active 49 DOM
14. 2026-05-31
    days on market $469,000 Active 48 DOM
15. 2026-04-11
    listed $478,000 Active
16. 2005-08-05
    soldstatus $303,000
17. 2001-05-14
    soldstatus $4,880,952

ⓘ 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: $2,752 · $229/mo
• Projected year-2 tax: $3,893 · $324/mo
• Expected delta: +$1,141/yr (+$95/mo · 41.5%)

ⓘ 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 ≥106°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,935
• − Mortgage interest: −$26,271
• − Property taxes: −$2,752
• − Insurance: −$2,345
• − Repairs & maintenance: −$2,955
• − Management: −$2,955
• − HOA: −$4,332
• − Depreciation: −$13,644
• Taxable loss: −$18,318
• Est. tax savings @ 24.0%: +$4,396
• After-tax cash flow: $-5,368/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): 76,863
• Household income: $92,591
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 1870.0

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 0.70)
• Race & ethnicity: White 44% Hispanic / Latino 24% Black 23% Two or more races 16% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 4% Dominican 2%
• Common ancestry: Hispanic 6% Romanian 2% Italian 1%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 17% French/Haitian/Cajun 4% Other Indo-European 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: ▲ 17.04%
• Current HPI: 903.78
• Rent YoY: ▲ 0.85%
• 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

-90.2% since first listed

3 events — show timeline

• 2026-04-11 Listed $478,000 Beaches MLS
• 2005-08-05 Sold (Public Records) $303,000 Public Records
• 2001-05-14 Sold (Public Records) $4,880,952 Public Records

Property tax history

+0.4%/yr

Latest (2025): $2,752 · +3.8% YoY. Source: county tax records.