3589 S Ocean Blvd #30 · South Palm Beach, FL 33480

$294,000

1 bd · 2.0 ba · 922 sqft · Condo public records · 32 Days on market

Built 1974 $955/mo HOA · 29% 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 +9.3/30.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0

Listing remarks

Beautifully updated loft-style lanai residence at The Mayfair offering privacy and resort-style Palm Beach living. Ideally located near the lobby with no residence above, this light-filled home features a stunning renovated modern kitchen, in-unit washer & dryer, spacious living areas, and serene views of the Japanese-style lagoon creating a peaceful tropical retreat. The first-floor bathroom offers an opportunity for your own personal touch. The Mayfair is a premier ocean-to-Intracoastal community with private beach access, oceanfront sundeck, two pools, fitness center, sauna, clubhouse, kayak & paddleboard storage, bike storage, car wash area, and lush tropical grounds near Ea

Key facts

• Oceanfront sundeck
• Private beach access
• In-unit washer dryer

Tags

• UPDATED LOFT-STYLE RESIDENCE
• RENOVATED MODERN KITCHEN
• IN-UNIT WASHER DRYER
• PRIVATE BEACH ACCESS
• OCEANFRONT SUNDECK
• TWO POOLS

Property features AI

Finance

• Other: Pets allowed with restrictions (cats OK; breed, size, number limits and other restrictions may apply)
• HOA & community: Association: Ocean Breeze; Monthly HOA fee; Community amenities include beach access, clubhouse, car wash area, elevator(s), fitness center, management, picnic area, parking, pool, sauna, on-site manager, trash chute, bike storage, community room with kitchen facilities, lobby, maintained community, sidewalks, and recreation facilities; HOA fee covers cable TV, insurance, grounds maintenance, pest control, security, sewer, trash, water, and common areas

Exterior

• Parking: Assigned parking; Guest parking; One open parking space
• Security: Closed-circuit cameras; Fire alarm; Smoke detectors; Security lights; Security system; Attended lobby
• Utilities: Public water; Public sewer; Electricity connected (three-phase); Cable connected
• Home design: Condominium; One and one-half levels; Resale property; Faces East
• Construction: Built in CBS construction; Built-up roof; Nine-story building
• Exterior features: Deck; Sidewalks; Deeded beach access; Ocean access

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Electric cooktop; Microwave; Refrigerator; Electric water heater
• Bedrooms: One main-level bedroom
• Flooring: Tile; Vinyl; Wood
• Bathrooms: Two full bathrooms (one on main level)
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fan(s)
• Interior features: Entrance foyer; High ceilings; Walk-in closet(s); French doors; Blinds, storm windows, and shutters
• Laundry & utility: In-unit laundry located on lower level/inside

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $294k.

Deal economics

• At list price, monthly cash flow is $-642 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (38.5% below list).
• Meets the 1% rule at list price ($3k rent vs $294k).
• Recommended offer: $181k (38.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 72/100 on livability (#340 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: 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.
• Zoned schools: Lantana Elementary School (math 30% / reading 33%, grade F, #1,841 of 2,144 statewide, top 86%, 484 students, 79% FRL); Lake Worth High School (math 16% / reading 27%, grade F, #546 of 667 statewide, top 82%, 2,683 students, 71% FRL) — zoned schools average 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 50% district-wide (-23 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 rising (+3.9%/yr); 447 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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).

Forward outlook

• In year one you build about $17k of equity ($2k loan paydown + $15k appreciation (5.1% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($285k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $150k; list at $294k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 29% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,664 (38.5% 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 32 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.10% ✓
• Cap rate: 5.42%
• Cash-on-cash: -3.13%
• DSCR: 0.86
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.12% appreciation · 3.92% rent growth · sell at horizon

5-year hold

• IRR: 6.1%
• Equity multiple: 1.40×
• Total profit: $32,624
• Equity at exit: $168,662

10-year hold

• IRR: 8.9%
• Equity multiple: 2.71×
• Total profit: $140,713
• Equity at exit: $292,801

Cash invested: $82,320 (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 33480

• Home prices YoY: 1.1%
• Rents YoY: 3.9%
• Active inventory: 447
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,237 high
• Mortgage (P&I): −$1,542
• Tax from tax record: −$153 /mo · $1,839/yr
• Insurance: −$122
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$955
• Vacancy / Maint / Mgmt: −$680
• Net cashflow: $-642

Break-even live

Break-even rent $4,049

Max offer price $180,664

Occupancy floor —

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: $73,500
• Closing costs: $8,820
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3581 S Ocean Blvd Unit 2B Palm Beach, FL	1.0	1.5	940	$2,900	$3.09	17d	1	0.02mi
3605 S Ocean Blvd #319 Palm Beach, FL	2.0	2.0	1121	$4,000	$3.57	5d	1	0.12mi
3605 S Ocean Blvd Palm Beach, FL	2.0	2.0	1162	$3,350	$2.88	24d	2	0.13mi
3580 S Ocean Blvd Unit 6B Palm Beach, FL	1.0	1.5	1013	$2,500	$2.47	15d	1	0.14mi
4201 S Ocean Blvd Unit K2 Palm Beach, FL	1.0	1.5	714	$2,299	$3.22	8d	1	0.17mi
3540 S Ocean Blvd #612 Palm Beach, FL	2.0	2.0	983	$4,700	$4.78	8d	1	0.23mi
3540 S Ocean Blvd #216 Palm Beach, FL	2.0	2.0	983	$2,550	$2.59	22d	1	0.23mi
3540 S Ocean Blvd #208 Palm Beach, FL	2.0	2.0	983	$2,750	$2.80	4d	1	0.23mi
3540 S Ocean Blvd #309 Palm Beach, FL	1.0	1.5	785	$2,300	$2.93	5d	1	0.23mi
3540 S Ocean Blvd #309 Palm Beach, FL	1.0	1.5	785	$2,400	$3.06	5d	1	0.23mi
3540 S Ocean Blvd #310 Palm Beach, FL	1.0	1.5	785	$2,100	$2.68	8d	1	0.23mi
3540 S Ocean Blvd #608 Palm Beach, FL	2.0	2.0	983	$2,950	$3.00	24d	1	0.23mi
3540 S Ocean Blvd Palm Beach, FL	1.0	2.0	983	$4,000	$4.07	24d	1	0.23mi
3500 S Ocean Blvd Palm Beach, FL	1.0	1.0	580	$1,950	$3.36	1d	3	0.31mi
3475 S Ocean Blvd #3110 Palm Beach, FL	1.0	1.5	891	$2,600	$2.92	24d	1	0.36mi
3475 S Ocean Blvd #6110 Palm Beach, FL	1.0	1.5	891	$3,500	$3.93	24d	1	0.36mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$2,750	$2.22	8d	9	0.47mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$2,300	$1.86	3d	10	0.47mi
3450 S Ocean Blvd #1050 Palm Beach, FL	1.0	1.0	952	$2,950	$3.10	24d	1	0.47mi
3450 S Ocean Blvd #8120 Palm Beach, FL	1.0	1.5	1008	$3,500	$3.47	24d	1	0.47mi
3450 S Ocean Blvd #3280 Palm Beach, FL	1.0	1.0	952	$2,500	$2.63	24d	1	0.47mi
3450 S Ocean Blvd #4270 Palm Beach, FL	1.0	1.0	924	$3,250	$3.52	24d	1	0.47mi
301 Croton Ave #302 Lantana, FL	1.0	1.0	702	$1,900	$2.71	24d	1	0.59mi
300 Croton Ave #102 Lantana, FL	2.0	2.0	1039	$3,250	$3.13	24d	1	0.59mi
300 Croton Ave Lantana, FL	2.0	2.0	1039	$3,000	$2.89	24d	1	0.59mi
231 E Lantana Rd #203 Lantana, FL	2.0	2.0	950	$2,400	$2.53	4d	1	0.61mi
107 Waterway Dr S Lantana, FL	1.0	1.5	806	$1,750	$2.17	8d	1	0.63mi
896 N Federal Hwy Lantana, FL	2.0	2.0	1027	$2,700	$2.63	24d	2	0.65mi
896 N Federal Hwy Lantana, FL	2.0	2.0	1027	$2,925	$2.85	8d	2	0.65mi
720 N Dixie Hwy #202 Lantana, FL	2.0	2.5	1125	$2,000	$1.78	5d	1	0.68mi
200 Waterway Dr S #202 Lantana, FL	1.0	1.5	806	$1,850	$2.30	24d	1	0.68mi
200 Croton Ave Lantana, FL	1.0–2.0	1.0	695	$1,675	$2.41	15d	2	0.68mi
315 N Lake Dr Unit 6 Lantana, FL	1.0	1.0	590	$1,495	$2.53	18d	1	0.69mi
119 Sunrise Ave Unit A Lantana, FL	1.0	1.0	555	$2,400	$4.32	21d	1	0.69mi
896 N Federal Hwy #128 Lantana, FL	2.0	2.0	1025	$3,200	$3.12	12d	1	0.71mi
115 E Lantana Rd Lantana, FL	1.0	1.0	600	$1,600	$2.67	11d	1	0.72mi
303 Waterway Dr S #303 Lantana, FL	2.0	1.5	900	$2,100	$2.33	24d	1	0.74mi
802 W Windward Way #304 Lantana, FL	1.0	1.0	839	$2,700	$3.22	24d	1	0.74mi
300 Waterway Dr S #308 Lantana, FL	2.0	1.5	806	$2,200	$2.73	24d	1	0.75mi
1516 S Lakeside Dr Lake Worth, FL	1.0	1.5	767	$1,650	$2.15	14d	2	0.80mi

HOA detail condo

• Monthly dues: $955 · $11,460/yr
• Likely covers: landscapingpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-15
   days on market $294,000 Active 32 DOM
2. 2026-06-13
   days on market $294,000 Active 30 DOM
3. 2026-06-09
   days on market $294,000 Active 26 DOM
4. 2026-06-08
   days on market $294,000 Active 25 DOM
5. 2026-06-07
   days on market $294,000 Active 24 DOM
6. 2026-06-04
   days on market $294,000 Active 21 DOM
7. 2026-06-03
   days on market $294,000 Active 20 DOM
8. 2026-06-02
   days on market $294,000 Active 19 DOM
9. 2026-06-01
   days on market $294,000 Active 18 DOM
10. 2026-05-31
    days on market $294,000 Active 17 DOM
11. 2026-05-13
    listed $294,000 Active
12. 2026-03-04
    historical
13. 2026-01-21
    listed $299,000 Active
14. 2026-01-02
    historical
15. 2025-09-11
    listed $289,000 Active
16. 2024-10-08
    soldstatus $150,000
17. 1980-12-01
    soldstatus $79,500

ⓘ 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: $1,839 · $153/mo
• Projected year-2 tax: $2,440 · $203/mo
• Expected delta: +$601/yr (+$50/mo · 32.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 27 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: $38,848
• − Mortgage interest: −$16,469
• − Property taxes: −$1,839
• − Insurance: −$6,589
• − Repairs & maintenance: −$3,108
• − Management: −$3,108
• − HOA: −$11,460
• − Depreciation: −$8,553
• Taxable loss: −$12,277
• Est. tax savings @ 24.0%: +$2,946
• After-tax cash flow: $-4,752/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 — South Palm Beach

• Score: 72/100
• State rank: #340
• US rank: #5907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 10,924
• Household income: $150,633
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 213.0

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Cuban 1%
• Common ancestry: Scotch-Irish 7% Romanian 5% Italian 3%
• Foreign-born: 20% · Canada, Dominican Republic, China
• Languages at home: 84% English-only · Spanish 7% Other Indo-European 3% Russian/Polish/Slavic 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: ▲ 5.12%
• Current HPI: 464.2769
• Rent YoY: ▲ 3.92%
• 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

+269.8% since first listed

7 events — show timeline

• 2026-05-13 Listed $294,000 Beaches MLS
• 2026-03-04 Listing Removed — Beaches MLS
• 2026-01-21 Listed $299,000 Beaches MLS
• 2026-01-02 Listing Removed — Beaches MLS
• 2025-09-11 Listed $289,000 Beaches MLS
• 2024-10-08 Sold (Public Records) $150,000 Public Records
• 1980-12-01 Sold (Public Records) $79,500 Public Records

Property tax history

-2.1%/yr

Latest (2025): $1,839 · -54.2% YoY. Source: county tax records.