3580 S Ocean Blvd Unit 2a · South Palm Beach, FL 33480

$399,000

2 bd · 2.0 ba · 1,121 sqft · Condo public records · 119 Days on market

Built 1973 $1024/mo HOA · 21% 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 +19.9/30.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• DSCR +6.3/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0

Key facts

• $1,024 HOA
• Parking
• Community pool

Property features AI

Finance

• HOA & community: Has association; Monthly HOA fee; Building amenities: elevator(s), fitness center, game room, pool, community room, lobby, parking; HOA covers cable TV, grounds and structure maintenance, pest control, sewer, water, common areas, elevator, HVAC maintenance

Exterior

• Parking: Assigned parking; Guest parking; Open parking (1 open space)
• Security: Closed circuit cameras; Fire alarm; Smoke detectors; Security system; Entry intercom/phone
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Resale condition; Faces west; 9 stories total; Customized wheelchair accessible
• Construction: CBS construction
• Exterior features: Ocean access and Intracoastal nearby; Tar and gravel roof

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Walk-in closets; Sliding windows; Furnished
• Laundry & utility: Laundry closet with washer hookup inside

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 $55 ($662/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $399k).
• Recommended offer: $363k (9.0% 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: schools C-, 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.
• 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 23d 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 39% of the median local income ($151k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 ~5 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 119 days — a 9% lower offer ($363k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 21y ago; this cycle's ask is 11300% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $290k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 21% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $363,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.24% ✓
• Cap rate: 7.74%
• Cash-on-cash: 5.17%
• DSCR: 1.23
• GRM: 6.7

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: 14.3%
• Equity multiple: 1.93×
• Total profit: $103,472
• Equity at exit: $228,898

10-year hold

• IRR: 15.5%
• Equity multiple: 3.86×
• Total profit: $319,438
• 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: 6.7×

Monthly cashflow live

• Estimated rent: $4,950 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$146 /mo · $1,752/yr
• Insurance: −$166
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,024
• Vacancy / Maint / Mgmt: −$1,039
• Net cashflow: $55

Break-even live

Break-even rent $4,880

Max offer price $399,000

Occupancy floor 94%

Sensitivity live

Price	-10% $281	-5% $168	+0% $55	+5% $-58	+10% $-171
Rent	-10% $-336	-5% $-140	+0% $55	+5% $251	+10% $446
Rate	-1.0pp $256	-0.5pp $157	base $55	+0.5pp $-48	+1.0pp $-153

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
3580 S Ocean Blvd Unit 6B Palm Beach, FL	1.0	1.5	1013	$2,500	$2.47	15d	1	0.02mi
3560 S Ocean Blvd #502 Palm Beach, FL	2.0	2.0	1340	$9,500	$7.09	25d	1	0.08mi
3560 S Ocean Blvd #907 Palm Beach, FL	2.0	2.0	1340	$7,800	$5.82	12d	1	0.08mi
3560 S Ocean Blvd #907 Palm Beach, FL	2.0	2.0	1340	$7,500	$5.60	12d	1	0.08mi
3560 S Ocean Blvd #306 Palm Beach, FL	2.0	2.0	1380	$7,000	$5.07	19d	1	0.08mi
3560 S Ocean Blvd #4 Palm Beach, FL	2.0	2.0	1340	$7,950	$5.93	25d	1	0.08mi
3560 S Ocean Blvd #706 Palm Beach, FL	2.0	2.0	1340	$12,000	$8.96	21d	1	0.08mi
3581 S Ocean Blvd Unit 9A Palm Beach, FL	2.0	2.0	1192	$2,600	$2.18	17d	1	0.10mi
3581 S Ocean Blvd Unit 2B Palm Beach, FL	1.0	1.5	940	$2,900	$3.09	17d	1	0.10mi
3610 S Ocean Blvd Palm Beach, FL	1.0–3.0	1.5–2.0	1490	$8,348	$5.60	25d	4	0.12mi
3601 S Ocean Blvd Palm Beach, FL	2.0	2.5	1408	$2,900	$2.06	20d	2	0.13mi
3601 S Ocean Blvd #308 Palm Beach, FL	2.0	2.5	1408	$3,250	$2.31	19d	1	0.13mi
3605 S Ocean Blvd Palm Beach, FL	2.0	2.0	1162	$3,350	$2.88	25d	2	0.14mi
3605 S Ocean Blvd #319 Palm Beach, FL	2.0	2.0	1121	$4,000	$3.57	5d	1	0.16mi
3540 S Ocean Blvd Palm Beach, FL	1.0	2.0	983	$4,000	$4.07	25d	1	0.20mi
3540 S Ocean Blvd #309 Palm Beach, FL	1.0	1.5	785	$2,400	$3.06	6d	1	0.20mi
3540 S Ocean Blvd #310 Palm Beach, FL	1.0	1.5	785	$2,100	$2.68	8d	1	0.20mi
3540 S Ocean Blvd #612 Palm Beach, FL	2.0	2.0	983	$4,700	$4.78	8d	1	0.20mi
3540 S Ocean Blvd #208 Palm Beach, FL	2.0	2.0	983	$2,750	$2.80	4d	1	0.20mi
3540 S Ocean Blvd #309 Palm Beach, FL	1.0	1.5	785	$2,300	$2.93	5d	1	0.20mi
3540 S Ocean Blvd #608 Palm Beach, FL	2.0	2.0	983	$2,950	$3.00	25d	1	0.20mi
3540 S Ocean Blvd #216 Palm Beach, FL	2.0	2.0	983	$2,550	$2.59	22d	1	0.20mi
4201 S Ocean Blvd Unit K2 Palm Beach, FL	1.0	1.5	714	$2,299	$3.22	8d	1	0.21mi
3520 S Ocean Blvd Unit H404 Palm Beach, FL	2.0	2.0	1176	$5,900	$5.02	25d	1	0.24mi
3500 S Ocean Blvd Palm Beach, FL	1.0	1.0	580	$1,950	$3.36	2d	3	0.29mi
3475 S Ocean Blvd #6110 Palm Beach, FL	1.0	1.5	891	$3,500	$3.93	25d	1	0.33mi
3475 S Ocean Blvd #3020 Palm Beach, FL	2.0	2.0	1395	$5,000	$3.58	25d	1	0.33mi
3475 S Ocean Blvd #3110 Palm Beach, FL	1.0	1.5	891	$2,600	$2.92	25d	1	0.33mi
3475 S Ocean Blvd #1030 Palm Beach, FL	1.0	2.0	1395	$5,500	$3.94	3d	1	0.33mi
3475 S Ocean Blvd #6150 Palm Beach, FL	2.0	2.0	1395	$8,750	$6.27	25d	1	0.33mi
3475 S Ocean Blvd Palm Beach, FL	2.0	2.0	1395	$5,850	$4.19	25d	3	0.34mi
3456 S Ocean Blvd Apt 705 Palm Beach, FL	2.0	2.0	1457	$3,500	$2.40	25d	1	0.40mi
3460 S Ocean Blvd #4150 Palm Beach, FL	2.0	2.0	1436	$10,500	$7.31	25d	1	0.40mi
3456 S Ocean Blvd #105 Palm Beach, FL	2.0	2.0	1482	$12,000	$8.10	25d	1	0.40mi
3456 S Ocean Blvd #6050 Palm Beach, FL	2.0	2.0	1482	$4,650	$3.14	25d	1	0.41mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$9,500	$7.69	8d	9	0.45mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$9,500	$7.69	3d	10	0.45mi
3450 S Ocean Blvd #8120 Palm Beach, FL	1.0	1.5	1008	$3,500	$3.47	25d	1	0.45mi
3450 S Ocean Blvd #1050 Palm Beach, FL	1.0	1.0	952	$2,950	$3.10	25d	1	0.45mi
3450 S Ocean Blvd #4270 Palm Beach, FL	1.0	1.0	924	$3,250	$3.52	25d	1	0.45mi

HOA detail condo

• Monthly dues: $1,024 · $12,288/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 42 events

1. 2026-06-18
   days on market $399,000 Active 119 DOM
2. 2026-06-17
   days on market $399,000 Active 118 DOM
3. 2026-06-16
   days on market $399,000 Active 117 DOM
4. 2026-06-15
   days on market $399,000 Active 116 DOM
5. 2026-06-13
   days on market $399,000 Active 114 DOM
6. 2026-06-09
   days on market $399,000 Active 110 DOM
7. 2026-06-07
   days on market $399,000 Active 108 DOM
8. 2026-06-04
   days on market $399,000 Active 105 DOM
9. 2026-06-03
   days on market $399,000 Active 104 DOM
10. 2026-06-01
    days on market $399,000 Active 102 DOM
11. 2026-05-31
    days on market $399,000 Active 101 DOM
12. 2026-05-08
    listed $3,500
13. 2026-05-05
    price $399,000
14. 2026-03-31
    historical $3,500
15. 2026-02-19
    listed $409,000 Active
16. 2026-01-15
    listed $3,500
17. 2025-12-12
    historical $3,500
18. 2025-11-27
    listed $3,500
19. 2025-11-22
    historical $3,500
20. 2025-10-23
    listed $3,500
21. 2025-10-22
    historical $3,500
22. 2025-10-22
    listed $3,500
23. 2025-01-01
    historical $3,800
24. 2025-01-01
    historical
25. 2024-10-11
    price $3,800
26. 2024-08-29
    historical $3,200
27. 2024-08-28
    listed $3,200
28. 2024-08-03
    listed $3,200
29. 2024-07-25
    status Active
30. 2024-07-23
    historical
31. 2024-05-08
    price $409,000
32. 2024-04-22
    listed $419,000 Active
33. 2022-06-01
    historical
34. 2022-05-31
    status Active
35. 2022-03-07
    price $375,000
36. 2022-03-07
    price $359,999
37. 2022-02-23
    listed $375,000 Active
38. 2013-09-22
    historical
39. 2006-07-20
    soldstatus $290,000
40. 2005-11-09
    listed $340,000
41. 1998-04-01
    soldstatus $85,000
42. 1973-01-01
    soldstatus $39,400

ⓘ 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: $1,752 · $146/mo
• Projected year-2 tax: $3,312 · $276/mo
• Expected delta: +$1,559/yr (+$130/mo · 89.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe 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: $59,398
• − Mortgage interest: −$22,350
• − Property taxes: −$1,752
• − Insurance: −$7,114
• − Repairs & maintenance: −$4,752
• − Management: −$4,752
• − HOA: −$12,288
• − Depreciation: −$11,607
• Taxable loss: −$5,217
• Est. tax savings @ 24.0%: +$1,252
• After-tax cash flow: $1,914/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

-91.1% since first listed

31 events — show timeline

• 2026-05-08 Listed for Rent $3,500 RMLSFL
• 2026-05-05 Price Changed $399,000 Beaches MLS
• 2026-03-31 Rental Removed $3,500 RMLSFL
• 2026-02-19 Listed $409,000 Beaches MLS
• 2026-01-15 Listed for Rent $3,500 RMLSFL
• 2025-12-12 Rental Removed $3,500 RMLSFL
• 2025-11-27 Listed for Rent $3,500 RMLSFL
• 2025-11-22 Rental Removed $3,500 RMLSFL
• 2025-10-23 Listed for Rent $3,500 RMLSFL
• 2025-10-22 Rental Removed $3,500 GFLMLS
• 2025-10-22 Listed for Rent $3,500 GFLMLS
• 2025-01-01 Rental Removed $3,800 RMLSFL
• 2025-01-01 Listing Removed — Beaches MLS
• 2024-10-11 Price Changed $3,800 RMLSFL
• 2024-08-29 Rental Removed $3,200 GFLMLS
• 2024-08-28 Listed for Rent $3,200 GFLMLS
• 2024-08-03 Listed for Rent $3,200 RMLSFL
• 2024-07-25 Relisted — Beaches MLS
• 2024-07-23 Listing Removed — Beaches MLS
• 2024-05-08 Price Changed $409,000 Beaches MLS
• 2024-04-22 Listed $419,000 Beaches MLS
• 2022-06-01 Listing Removed — MARMLS
• 2022-05-31 Relisted — MARMLS
• 2022-03-07 Price Changed $375,000 MARMLS
• 2022-03-07 Price Changed $359,999 MARMLS
• 2022-02-23 Listed $375,000 MARMLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2006-07-20 Sold (Public Records) $290,000 Public Records
• 2005-11-09 Listed $340,000 Beaches MLS
• 1998-04-01 Sold (Public Records) $85,000 Public Records
• 1973-01-01 Sold (Public Records) $39,400 Public Records

Property tax history

-0.5%/yr

Latest (2025): $1,752 · +3.9% YoY. Source: county tax records.