3525 S Ocean 107 Blvd #107 · South Palm Beach, FL 33480

$399,000

2 bd · 2.0 ba · 1,355 sqft · Condo public records · 285 Days on market

Built 1985 $895/mo HOA · 16% 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 +26.4/30.0
• DSCR +9.0/10.0
• 1% rule +8.8/10.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Public Remarks:Discover this turnkey, waterfront, first-floor 2/2 Condo. The Lakewood Condo is a pet-friendly community that welcomes small pets. The updated unit boasts a spacious kitchen with additional storage and granite countertops, perfect for entertaining. A private entrance from the secure lobby leads to breathtaking waterfront views. Both bedrooms feature extra-large walk-in closets. The primary bedroom offers views of the waterway, dock, and pool, with a French door opening onto a covered patio. Enjoy a brand new AC in 2024! The community provides deeded beachfront access, illuminated boat docks with water supply, an on-site management office, a community room, a storage area for

Key facts

• Waterfront views
• Private pool
• Private entrance

Tags

• WATERFRONT VIEWS
• PRIVATE ENTRANCE
• DEEDED BEACHFRONT ACCESS
• ILLUMINATED BOAT DOCKS
• PRIVATE POOL

Property features AI

Finance

• HOA & community: Monthly HOA fee (approximately $895) covering cable TV, insurance, grounds maintenance, sewer, trash, water, common areas, common real estate tax, and elevator; Community amenities: boating, beach access, elevators, jogging path, on-site management, storage, manager on site, bike storage, community room, lobby; Pets allowed with restrictions (breed, number, size limits); 46 units in the community

Exterior

• Parking: Open parking
• Security: Closed-circuit cameras; Fire alarm; Smoke detectors; Security lights; Security system; Entry phone/intercom
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Resale property; Entry-level living area; Faces east; 4-story building
• Construction: Stucco and CBS construction; Tar/gravel roof; Building area approximately 1,355 living area; total building area listed as 1,430
• Exterior features: Covered patio; Screened patio; Patio; Ocean access; Sidewalks; Waterfront property (east of US-1)

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Garbage disposal; Refrigerator; Kitchen island
• Bedrooms: 2 bedrooms on main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Electric central heating (individual unit); Electric central cooling (individual unit); Paddle fan(s)
• Interior features: Entrance foyer; Kitchen island; Walk-in closet(s); Split bedroom layout; Closet cabinetry; Custom mirrors; French doors; Tinted sliding windows; Furnished
• Laundry & utility: Laundry inside unit; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $399k.

Deal economics

• At list price, monthly cash flow is $619 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $399k).
• Recommended offer: $351k (12.0% below list) — sets the bar for market timing.

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 24d 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 $23k of equity ($3k loan paydown + $20k 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.
• At projected returns (5.1% appreciation + 3.9% rent growth), your $112k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 285 days — a 12% lower offer ($351k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 28y ago; this cycle's ask has dropped $60k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $351,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 285 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.38% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.23%
• DSCR: 1.50
• GRM: 6.0

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: 19.5%
• Equity multiple: 2.25×
• Total profit: $139,825
• Equity at exit: $228,898

10-year hold

• IRR: 19.9%
• Equity multiple: 4.57×
• Total profit: $399,215
• Equity at exit: $397,373

Cash invested: $111,720 (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 33480

• Home prices YoY: 1.1%
• Rents YoY: 3.9%
• Active inventory: 447
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $5,505 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$150 /mo · $1,800/yr
• Insurance: −$166
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$895
• Vacancy / Maint / Mgmt: −$1,156
• Net cashflow: $619

Break-even live

Break-even rent $4,722

Max offer price $399,000

Occupancy floor 84%

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3520 S Ocean Blvd Unit H404 Palm Beach, FL	2.0	2.0	1176	$5,900	$5.02	24d	1	0.04mi
3475 S Ocean Blvd Palm Beach, FL	2.0	2.0	1395	$5,850	$4.19	24d	3	0.10mi
3540 S Ocean Blvd Palm Beach, FL	1.0	2.0	983	$4,000	$4.07	24d	1	0.10mi
3540 S Ocean Blvd #612 Palm Beach, FL	2.0	2.0	983	$4,700	$4.78	7d	1	0.10mi
3540 S Ocean Blvd #216 Palm Beach, FL	2.0	2.0	983	$2,550	$2.59	22d	1	0.10mi
3540 S Ocean Blvd #608 Palm Beach, FL	2.0	2.0	983	$2,950	$3.00	24d	1	0.10mi
3540 S Ocean Blvd #208 Palm Beach, FL	2.0	2.0	983	$2,750	$2.80	4d	1	0.10mi
3475 S Ocean Blvd #6150 Palm Beach, FL	2.0	2.0	1395	$8,750	$6.27	24d	1	0.11mi
3475 S Ocean Blvd #3110 Palm Beach, FL	1.0	1.5	891	$2,600	$2.92	24d	1	0.11mi
3475 S Ocean Blvd #6110 Palm Beach, FL	1.0	1.5	891	$3,500	$3.93	24d	1	0.11mi
3475 S Ocean Blvd #3020 Palm Beach, FL	2.0	2.0	1395	$5,000	$3.58	24d	1	0.11mi
3475 S Ocean Blvd #1030 Palm Beach, FL	1.0	2.0	1395	$5,500	$3.94	3d	1	0.11mi
3460 S Ocean Blvd #4150 Palm Beach, FL	2.0	2.0	1436	$10,500	$7.31	24d	1	0.14mi
3456 S Ocean Blvd Apt 705 Palm Beach, FL	2.0	2.0	1457	$3,500	$2.40	24d	1	0.16mi
3456 S Ocean Blvd #6050 Palm Beach, FL	2.0	2.0	1482	$4,650	$3.14	24d	1	0.16mi
3456 S Ocean Blvd #105 Palm Beach, FL	2.0	2.0	1482	$12,000	$8.10	24d	1	0.16mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$9,500	$7.69	3d	10	0.19mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$9,500	$7.69	7d	9	0.19mi
3450 S Ocean Blvd #8120 Palm Beach, FL	1.0	1.5	1008	$3,500	$3.47	24d	1	0.19mi
3450 S Ocean Blvd #4270 Palm Beach, FL	1.0	1.0	924	$3,250	$3.52	24d	1	0.19mi
3450 S Ocean Blvd #1050 Palm Beach, FL	1.0	1.0	952	$2,950	$3.10	24d	1	0.19mi
3450 S Ocean Blvd #6010 Palm Beach, FL	2.0	2.0	1548	$5,500	$3.55	14d	1	0.19mi
3450 S Ocean Blvd #3280 Palm Beach, FL	1.0	1.0	952	$2,500	$2.63	24d	1	0.19mi
3560 S Ocean Blvd #4 Palm Beach, FL	2.0	2.0	1340	$7,950	$5.93	24d	1	0.20mi
3560 S Ocean Blvd #502 Palm Beach, FL	2.0	2.0	1340	$9,500	$7.09	24d	1	0.20mi
3560 S Ocean Blvd #907 Palm Beach, FL	2.0	2.0	1340	$7,500	$5.60	11d	1	0.20mi
3560 S Ocean Blvd #706 Palm Beach, FL	2.0	2.0	1340	$12,000	$8.96	20d	1	0.20mi
3560 S Ocean Blvd #907 Palm Beach, FL	2.0	2.0	1340	$7,800	$5.82	11d	1	0.20mi
3560 S Ocean Blvd #306 Palm Beach, FL	2.0	2.0	1380	$7,000	$5.07	18d	1	0.20mi
3440 S Ocean Blvd Unit 307N Palm Beach, FL	2.0	2.0	1457	$8,500	$5.83	24d	1	0.24mi
3581 S Ocean Blvd Unit 2B Palm Beach, FL	1.0	1.5	940	$2,900	$3.09	16d	1	0.27mi
3581 S Ocean Blvd Unit 9A Palm Beach, FL	2.0	2.0	1192	$2,600	$2.18	16d	1	0.27mi
3580 S Ocean Blvd Unit 6B Palm Beach, FL	1.0	1.5	1013	$2,500	$2.47	15d	1	0.29mi
3589 S Ocean Blvd #314 Palm Beach, FL	2.0	2.5	1541	$3,000	$1.95	24d	1	0.31mi
3589 S Ocean Blvd #614 Palm Beach, FL	2.0	2.0	1541	$4,200	$2.73	20d	1	0.31mi
3589 S Ocean Blvd #614 Palm Beach, FL	2.0	2.0	1541	$4,200	$2.73	24d	1	0.31mi
3589 S Ocean Blvd #801 Palm Beach, FL	2.0	2.0	1541	$6,000	$3.89	11d	1	0.31mi
3400 S Ocean Blvd Unit 1 C I Palm Beach, FL	2.0	2.0	1740	$12,000	$6.90	24d	1	0.34mi
3601 S Ocean Blvd Palm Beach, FL	2.0	2.5	1408	$2,900	$2.06	19d	2	0.34mi
3601 S Ocean Blvd #308 Palm Beach, FL	2.0	2.5	1408	$3,250	$2.31	18d	1	0.35mi

HOA detail condo

• Monthly dues: $895 · $10,740/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-04-18
   price $399,000
2. 2026-02-06
   price $419,000
3. 2026-02-06
   status Active
4. 2026-02-06
   historical
5. 2025-09-12
   price $439,000
6. 2025-08-15
   listed $459,000 Active
7. 2025-08-02
   historical
8. 2025-03-07
   price $469,000
9. 2024-12-10
   price $499,000
10. 2024-11-01
    listed $529,000 Active
11. 2023-06-10
    historical
12. 2023-05-09
    price $549,000
13. 2023-03-22
    listed $579,000 Active
14. 2004-12-17
    soldstatus $360,000
15. 2004-12-17
    soldstatus $360,000
16. 2004-11-18
    historical
17. 2004-08-06
    listed $385,000
18. 2004-08-05
    soldstatus $261,803
19. 2004-07-28
    soldstatus $269,900
20. 2004-07-08
    historical
21. 2004-06-07
    historical
22. 2004-05-31
    listed $269,900
23. 2004-05-31
    listed $259,000
24. 2000-10-17
    soldstatus $156,500
25. 2000-08-25
    soldstatus $156,500
26. 2000-07-31
    historical
27. 2000-04-13
    listed $159,950
28. 1998-10-27
    soldstatus $131,200
29. 1998-07-23
    historical
30. 1998-01-08
    listed $129,900
31. 1992-02-19
    soldstatus $95,600
32. 1988-07-07
    soldstatus $128,000

ⓘ 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: $1,800 · $150/mo
• Projected year-2 tax: $3,312 · $276/mo
• Expected delta: +$1,512/yr (+$126/mo · 84.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 26 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: $66,061
• − Mortgage interest: −$22,350
• − Property taxes: −$1,800
• − Insurance: −$7,114
• − Repairs & maintenance: −$5,285
• − Management: −$5,285
• − HOA: −$10,740
• − Depreciation: −$11,607
• Taxable income: $1,881
• Est. tax owed @ 24.0%: −$451
• After-tax cash flow: $6,975/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

+211.7% since first listed

32 events — show timeline

• 2026-04-18 Price Changed $399,000 Beaches MLS
• 2026-02-06 Price Changed $419,000 Beaches MLS
• 2026-02-06 Relisted — Beaches MLS
• 2026-02-06 Listing Removed — Beaches MLS
• 2025-09-12 Price Changed $439,000 Beaches MLS
• 2025-08-15 Listed $459,000 Beaches MLS
• 2025-08-02 Listing Removed — Beaches MLS
• 2025-03-07 Price Changed $469,000 Beaches MLS
• 2024-12-10 Price Changed $499,000 Beaches MLS
• 2024-11-01 Listed $529,000 Beaches MLS
• 2023-06-10 Listing Removed — Beaches MLS
• 2023-05-09 Price Changed $549,000 Beaches MLS
• 2023-03-22 Listed $579,000 Beaches MLS
• 2004-12-17 Sold (Public Records) $360,000 Public Records
• 2004-12-17 Sold (MLS) $360,000 Beaches MLS
• 2004-11-18 Listing Removed — Beaches MLS
• 2004-08-06 Listed $385,000 Beaches MLS
• 2004-08-05 Sold (Public Records) $261,803 Public Records
• 2004-07-28 Sold (MLS) $269,900 Beaches MLS
• 2004-07-08 Listing Removed — Beaches MLS
• 2004-06-07 Listing Removed — Beaches MLS
• 2004-05-31 Listed $259,000 Beaches MLS
• 2004-05-31 Listed $269,900 Beaches MLS
• 2000-10-17 Sold (Public Records) $156,500 Public Records
• 2000-08-25 Sold (MLS) $156,500 Beaches MLS
• 2000-07-31 Listing Removed — Beaches MLS
• 2000-04-13 Listed $159,950 Beaches MLS
• 1998-10-27 Sold (Public Records) $131,200 Public Records
• 1998-07-23 Listing Removed — Beaches MLS
• 1998-01-08 Listed $129,900 Beaches MLS
• 1992-02-19 Sold (Public Records) $95,600 Public Records
• 1988-07-07 Sold (Public Records) $128,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,800 · +3.9% YoY. Source: county tax records.