118 Yacht Club Dr #1 · North Palm Beach, FL 33408

$285,000

2 bd · 2.0 ba · 1,030 sqft · Condo public records · 56 Days on market

Built 1971 $577/mo HOA · 16% 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 +19.0/30.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great rental income or owner user. Great tenet in place till August 2021. Tenet willing to stay current rent is $1400 per month. Water heater replaced 2019. A/C about three years old. Steps away from North Palm Beach Marina and across the street from North Palm Beach Country Club. Condo has no relationship with marina. Great for boaters great for golfers.

Key facts

• Boat slips
• Water views
• Marina views

Tags

• MARINA VIEWS
• WATER VIEWS
• ENCLOSED PATIO
• GATED YARD
• ASSIGNED PARKING SPOT
• BOAT SLIPS

Property features AI

Finance

• Financial info: Pets allowed (cats only; restrictions possible)
• HOA & community: Has association; Monthly HOA fee; Association amenities include laundry, picnic area, parking, storage, sidewalks, and street lights; HOA fee includes insurance, grounds maintenance, pest control, sewer, trash, water, and common areas

Exterior

• Parking: Assigned parking (1 space); No carport
• Security: Fire alarm; Security lights
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; 2-story building; Resale; Faces north; East of US-1 road frontage
• Construction: CBS construction
• Exterior features: Screened patio; Patio; Sidewalks; Paved road

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Disposal; Electric water heater
• Bedrooms: 2 main-level bedrooms
• Flooring: Vinyl; Wood; Other
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Electric heating; Electric cooling; Ceiling fan(s)
• Interior features: Built-in features; Walk-in closet(s)
• Laundry & utility: Laundry available in association

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $285k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $285k).
• Recommended offer: $276k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#184 in FL, #2,894 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living D-.
• 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: Howell L. Watkins Middle School (math 18% / reading 33%, grade F, #512 of 571 statewide, top 90%, 794 students, 76% FRL); Palm Beach Gardens High School (math 19% / reading 40%, grade F, #447 of 667 statewide, top 68%, 2,570 students, 61% FRL) — zoned schools average 69% FRL vs 52% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 50% district-wide (-22 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; 400 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $3,630/mo this rent would consume 47% of the median local household income ($92k/yr) (locally 835% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 56 days — a 3% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 20y 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.
• Current owner paid $195k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $276,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.27% ✓
• Cap rate: 7.55%
• Cash-on-cash: 4.50%
• DSCR: 1.20
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.27% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.54×
• Total profit: $-36,422
• Equity at exit: $42,494

10-year hold

• IRR: -10.5%
• Equity multiple: 0.46×
• Total profit: $-43,188
• Equity at exit: $24,642

Cash invested: $79,800 (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 33408

• Rents YoY: 0.3%
• Active inventory: 400
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $3,630 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$379 /mo · $4,542/yr
• Insurance: −$119
• HOA: −$577
• Vacancy / Maint / Mgmt: −$762
• Net cashflow: $299

Break-even live

Break-even rent $3,252

Max offer price $285,000

Occupancy floor 87%

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
60 Yacht Club Dr #405 North Palm Beach, FL	2.0	2.0	1423	$3,100	$2.18	19d	1	0.12mi
52 Yacht Club Dr North Palm Beach, FL	2.0	2.0	1130	$3,375	$2.99	17d	2	0.16mi
52 Yacht Club Dr #308 North Palm Beach, FL	2.0	2.0	1130	$3,800	$3.36	12d	1	0.16mi
29 Yacht Club Dr #306 North Palm Beach, FL	2.0	2.0	1200	$3,000	$2.50	2d	1	0.18mi
20 Yacht Club Dr #405 North Palm Beach, FL	2.0	2.0	1010	$3,000	$2.97	24d	1	0.21mi
124 Lakeshore Dr #4280 North Palm Beach, FL	2.0	2.0	1422	$3,750	$2.64	21d	1	0.47mi
126 Lakeshore Dr Unit 927 North Palm Beach, FL	2.0	2.0	1422	$3,250	$2.29	24d	1	0.48mi
132 Lakeshore Dr #1118 North Palm Beach, FL	3.0	2.5	1498	$6,450	$4.31	24d	1	0.57mi
130 Lakeshore Dr #923 North Palm Beach, FL	2.0	2.0	1244	$3,300	$2.65	24d	1	0.57mi
136 Lakeshore Dr North Palm Beach, FL	2.0	2.0	1244	$4,000	$3.22	4d	1	0.57mi
134 Lakeshore Dr Unit T13 North Palm Beach, FL	2.0	2.0	1244	$3,250	$2.61	24d	1	0.59mi
429 Inlet Rd North Palm Beach, FL	3.0	2.5	1452	$6,500	$4.48	24d	1	0.72mi
549 Fairwind Dr North Palm Beach, FL	3.0	2.0	1498	$5,000	$3.34	24d	1	0.96mi
526 Eastwind Dr Unit 526 North Palm Beach, FL	2.0	1.0	840	$3,995	$4.76	24d	1	0.97mi
524 Eastwind Dr Unit 524 North Palm Beach, FL	2.0	1.0	774	$3,995	$5.16	24d	1	0.97mi
522 Eastwind Dr North Palm Beach, FL	2.0	2.0	948	$3,995	$4.21	24d	1	0.97mi
2539 Wabash Dr West Palm Beach, FL	3.0	2.5	1468	$5,500	$3.75	24d	1	0.99mi
700 Sanctuary Cove Dr West Palm Beach, FL	1.0–3.0	1.0–2.0	1120	$2,602	$2.32	1d	55	0.99mi
1660 Twelve Oaks Way #203 North Palm Beach, FL	2.0	2.0	1492	$7,500	$5.03	19d	1	1.03mi
624 Southwind Cir Unit 3 North Palm Beach, FL	3.0	3.0	1316	$5,500	$4.18	24d	1	1.20mi
624 Southwind Cir Apt 4 North Palm Beach, FL	3.0	2.0	1134	$4,750	$4.19	24d	1	1.20mi
624 Southwind Cir #2 North Palm Beach, FL	2.0	2.0	718	$3,750	$5.22	24d	1	1.20mi
2100 PGA Blvd Palm Beach Gardens, FL	1.0–3.0	1.0–2.0	1044	$3,062	$2.93	1d	10	1.20mi
11521 Landing Pl Unit E1 North Palm Beach, FL	2.0	2.0	1130	$7,000	$6.19	24d	1	1.27mi
308 Southwind Ct Unit 8 North Palm Beach, FL	2.0	2.0	1100	$2,900	$2.64	24d	1	1.31mi
908 Lighthouse Dr North Palm Beach, FL	3.0	2.0	1478	$4,250	$2.88	24d	1	1.31mi
913 Lighthouse Dr North Palm Beach, FL	3.0	2.5	1092	$5,900	$5.40	24d	1	1.32mi
2396 Easy St Unit A Palm Beach Gardens, FL	2.0	1.0	948	$3,500	$3.69	24d	1	1.34mi
2545 Conroy Dr West Palm Beach, FL	3.0	2.0	1066	$3,295	$3.09	24d	1	1.43mi

HOA detail condo

• Monthly dues: $577 · $6,924/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-05-01
   status Pending
2. 2026-05-01
   price $285,000
3. 2026-04-24
   price $284,500
4. 2026-03-06
   listed $285,000 Active
5. 2026-02-17
   historical
6. 2026-02-11
   price $284,999
7. 2025-06-23
   listed $285,000 Active
8. 2021-07-20
   soldstatus $195,000
9. 2021-07-07
   status Pending 358-char remark

   Show marketing remark (358 chars)

   Great rental income or owner user. Great tenet in place till August 2021. Tenet willing to stay current rent is $1400 per month. Water heater replaced 2019. A/C about three years old. Steps away from North Palm Beach Marina and across the street from North Palm Beach Country Club. Condo has no relationship with marina. Great for boaters great for golfers.

10. 2021-07-06
    soldstatus $195,000 Closed 358-char remark

    Show marketing remark (358 chars)

    Great rental income or owner user. Great tenet in place till August 2021. Tenet willing to stay current rent is $1400 per month. Water heater replaced 2019. A/C about three years old. Steps away from North Palm Beach Marina and across the street from North Palm Beach Country Club. Condo has no relationship with marina. Great for boaters great for golfers.

11. 2021-07-06
    soldstatus $195,000

    Show marketing remark (358 chars)

    Great rental income or owner user. Great tenet in place till August 2021. Tenet willing to stay current rent is $1400 per month. Water heater replaced 2019. A/C about three years old. Steps away from North Palm Beach Marina and across the street from North Palm Beach Country Club. Condo has no relationship with marina. Great for boaters great for golfers.

12. 2021-07-06
    soldstatus $195,000

    Show marketing remark (358 chars)

    Great rental income or owner user. Great tenet in place till August 2021. Tenet willing to stay current rent is $1400 per month. Water heater replaced 2019. A/C about three years old. Steps away from North Palm Beach Marina and across the street from North Palm Beach Country Club. Condo has no relationship with marina. Great for boaters great for golfers.

13. 2021-05-14
    historical Active Under Contract 358-char remark

    Show marketing remark (358 chars)

    Great rental income or owner user. Great tenet in place till August 2021. Tenet willing to stay current rent is $1400 per month. Water heater replaced 2019. A/C about three years old. Steps away from North Palm Beach Marina and across the street from North Palm Beach Country Club. Condo has no relationship with marina. Great for boaters great for golfers.

14. 2021-05-03
    listed $200,000 Active 358-char remark

    Show marketing remark (358 chars)

    Great rental income or owner user. Great tenet in place till August 2021. Tenet willing to stay current rent is $1400 per month. Water heater replaced 2019. A/C about three years old. Steps away from North Palm Beach Marina and across the street from North Palm Beach Country Club. Condo has no relationship with marina. Great for boaters great for golfers.

15. 2021-05-03
    listed $200,000

    Show marketing remark (358 chars)

    Great rental income or owner user. Great tenet in place till August 2021. Tenet willing to stay current rent is $1400 per month. Water heater replaced 2019. A/C about three years old. Steps away from North Palm Beach Marina and across the street from North Palm Beach Country Club. Condo has no relationship with marina. Great for boaters great for golfers.

16. 2021-05-03
    listed $200,000

    Show marketing remark (358 chars)

    Great rental income or owner user. Great tenet in place till August 2021. Tenet willing to stay current rent is $1400 per month. Water heater replaced 2019. A/C about three years old. Steps away from North Palm Beach Marina and across the street from North Palm Beach Country Club. Condo has no relationship with marina. Great for boaters great for golfers.

17. 2014-10-18
    historical
18. 2014-10-15
    historical
19. 2013-03-29
    soldstatus $91,500
20. 2013-03-15
    historical
21. 2013-02-15
    listed $105,000
22. 2012-12-20
    historical
23. 2012-03-21
    listed $105,000
24. 2008-07-31
    historical
25. 2008-01-28
    listed $157,000
26. 2006-08-09
    listed $197,000
27. 2006-02-27
    listed $223,000
28. 1999-03-04
    soldstatus $65,000

ⓘ 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: $4,542 · $379/mo
• Projected year-2 tax: $4,542 · $379/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 74% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,562
• − Mortgage interest: −$15,964
• − Property taxes: −$4,542
• − Insurance: −$1,425
• − Repairs & maintenance: −$3,485
• − Management: −$3,485
• − HOA: −$6,924
• − Depreciation: −$8,291
• Taxable loss: −$554
• Est. tax savings @ 24.0%: +$133
• After-tax cash flow: $3,721/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 — North Palm Beach

• Score: 77/100
• State rank: #184
• US rank: #2894

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 18,817
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 18,817
• Household income: $92,216
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 835.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 7% Black 1% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 4% Slovak 3% Romanian 3%
• Foreign-born: 11% · Canada, Jamaica, Guatemala
• Languages at home: 89% English-only · Spanish 7% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -223.14%
• Current HPI: 365.2913
• Rent YoY: ▲ 0.27%
• 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

+338.5% since first listed

28 events — show timeline

• 2026-05-01 Pending — Beaches MLS
• 2026-05-01 Price Changed $285,000 Beaches MLS
• 2026-04-24 Price Changed $284,500 Beaches MLS
• 2026-03-06 Listed $285,000 Beaches MLS
• 2026-02-17 Listing Removed — Beaches MLS
• 2026-02-11 Price Changed $284,999 Beaches MLS
• 2025-06-23 Listed $285,000 Beaches MLS
• 2021-07-20 Sold (Public Records) $195,000 Public Records
• 2021-07-07 Pending — Beaches MLS
• 2021-07-06 Sold (MLS) $195,000 St. Augustine and St. Johns County Board of REALTORS®
• 2021-07-06 Sold (MLS) $195,000 realMLS
• 2021-07-06 Sold (MLS) $195,000 Beaches MLS
• 2021-05-14 Contingent — Beaches MLS
• 2021-05-03 Listed $200,000 St. Augustine and St. Johns County Board of REALTORS®
• 2021-05-03 Listed $200,000 realMLS
• 2021-05-03 Listed $200,000 Beaches MLS
• 2014-10-18 Listing Removed — Beaches MLS
• 2014-10-15 Listing Removed — Beaches MLS
• 2013-03-29 Sold (MLS) $91,500 Beaches MLS
• 2013-03-15 Listing Removed — Beaches MLS
• 2013-02-15 Listed $105,000 Beaches MLS
• 2012-12-20 Listing Removed — Beaches MLS
• 2012-03-21 Listed $105,000 Beaches MLS
• 2008-07-31 Listing Removed — Beaches MLS
• 2008-01-28 Listed $157,000 Beaches MLS
• 2006-08-09 Listed $197,000 Beaches MLS
• 2006-02-27 Listed $223,000 Beaches MLS
• 1999-03-04 Sold (Public Records) $65,000 Public Records

Property tax history

+13.4%/yr

Latest (2025): $4,542 · +8.9% YoY. Source: county tax records.