2400 Presidential Way #403 · West Palm Beach, FL 33401

$230,000

2 bd · 2.0 ba · 1,206 sqft · Condo public records · 8 Days on market

Built 1972 $1085/mo HOA · 31% 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 +15.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Remodeled 2-bedroom, 2-bath condo in the gated Lands of the President community in West Palm Beach. This 1,294 sq ft residence features tile and wood flooring, an open kitchen with breakfast bar, smooth ceilings, updated lighting and fans, glass shower doors, newer A/C, and an in-unit washer and dryer. The convertible second bedroom with shoji-style sliding doors offers flexibility for guests, office space, or everyday living. Enjoy golf and pool-area views from two balconies, plus building amenities including a pool, exercise room, community room, bike storage, doorman service, and guard-gated entry. Convenient location near Palm Beach Outlets, CityPlace, beaches, dining, shopping, and maj

Key facts

• $1,085 HOA
• Garage
• Community pool

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Quarterly association fee; Association covers management, amenities, common areas, cable, internet, grounds and structure maintenance, pest control, pool(s), reserve fund, sewer, security, trash and water; Association amenities include bike storage, clubhouse, fitness center, pool and elevators

Exterior

• Parking: 1 covered space; One-space garage
• Security: Doorman; Security guard
• Utilities: Association-provided water; Association-provided sewer; Cable TV included in association; Internet included in association; Electric service
• Home design: Condominium / attached property; Updated/remodeled; Entry on level 4; 20 total stories
• Construction: Block construction
• Exterior features: Balcony; Storm/security shutters; Open balcony/patio

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Microwave; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Hardwood; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Bedroom on main level; Closet cabinetry; First-floor entry; Split bedrooms; Walk-in closet(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $94 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $230k).
• Cap rate 6.8% vs local median 3.8% in West Palm Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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.
• Market conditions: Rents rising fast (+5.2%/yr); 507 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $3,527/mo this rent would consume 62% of the median local household income ($68k/yr) (locally 2953% 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 $7k 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 21y 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 $70k; list at $230k implies a 229% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $230,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.53% ✓
• Cap rate: 6.78%
• Cash-on-cash: 1.75%
• DSCR: 1.08
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.15% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.65×
• Total profit: $-22,762
• Equity at exit: $34,294

10-year hold

• IRR: 4.4%
• Equity multiple: 1.38×
• Total profit: $24,275
• Equity at exit: $19,886

Cash invested: $64,400 (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 33401

• Rents YoY: 5.2%
• Active inventory: 507
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $3,527 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$306 /mo · $3,670/yr
• Insurance: −$96
• HOA: −$1,085
• Vacancy / Maint / Mgmt: −$741
• Net cashflow: $94

Break-even live

Break-even rent $3,409

Max offer price $230,000

Occupancy floor 92%

Sensitivity live

Price	-10% $224	-5% $159	+0% $94	+5% $29	+10% $-36
Rent	-10% $-185	-5% $-45	+0% $94	+5% $233	+10% $373
Rate	-1.0pp $210	-0.5pp $152	base $94	+0.5pp $34	+1.0pp $-26

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2400 Presidential Way #1906 West Palm Beach, FL	1.0	2.0	1294	$3,000	$2.32	25d	1	0.02mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	25d	1	0.07mi
1991 Presidential Way West Palm Beach, FL	1.0	1.0	827	$3,427	$4.14	9d	1	0.08mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	17d	1	0.08mi
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	25d	1	0.30mi
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	25d	1	0.66mi
1319 13th St West Palm Beach, FL	3.0	2.0	1215	$3,200	$2.63	25d	1	1.20mi
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$2,705	$2.53	21d	19	1.23mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	25d	1	1.30mi
1104 State St Unit C West Palm Beach, FL	3.0	1.0	875	$3,000	$3.43	25d	1	1.38mi
3590 Village Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1074	$2,785	$2.59	0d	30	1.42mi
933 30th Ct West Palm Beach, FL	3.0	1.5	1085	$3,100	$2.86	25d	1	1.46mi
195 River Grove Way West Palm Beach, FL	3.0	1.0–2.0	958	$3,192	$3.33	0d	18	1.47mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$2,528	$2.07	19d	60	1.47mi
932 31st St West Palm Beach, FL	3.0	2.0	850	$3,000	$3.53	25d	1	1.48mi

HOA detail condo

• Monthly dues: $1,085 · $13,020/yr
• Likely covers: pooldoormansecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-21
   days on market $230,000 Active 8 DOM
2. 2026-06-18
   days on market $230,000 Active 5 DOM
3. 2026-06-17
   days on market $230,000 Active 4 DOM
4. 2026-06-16
   days on market $230,000 Active 3 DOM
5. 2026-06-15
   days on market $230,000 Active 2 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $230,000 Active 1 DOM

ⓘ 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: $3,670 · $306/mo
• Projected year-2 tax: $3,670 · $306/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,330
• − Mortgage interest: −$12,884
• − Property taxes: −$3,670
• − Insurance: −$1,150
• − Repairs & maintenance: −$3,386
• − Management: −$3,386
• − HOA: −$13,020
• − Depreciation: −$6,691
• Taxable loss: −$1,857
• Est. tax savings @ 24.0%: +$446
• After-tax cash flow: $1,573/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): 33,698
• Household income: $67,967
• Rent vs Own: 62.5% rent · 37.5% own
• Severe rent burden: 2953.0

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 0.68)
• Race & ethnicity: White 43% Black 32% Hispanic / Latino 17% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 3%
• Common ancestry: Hispanic 6% Slovak 2% Romanian 2%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 13% French/Haitian/Cajun 7% Other Asian/Pacific 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: ▼ -324.96%
• Current HPI: 367.0978
• Rent YoY: ▲ 5.15%
• 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

+342.3% since first listed

33 events — show timeline

• 2026-06-12 Listed $230,000 MARMLS
• 2026-03-23 Listing Removed — Beaches MLS
• 2026-03-14 Rental Removed $2,200 GFLMLS
• 2026-01-13 Listed $280,000 Beaches MLS
• 2026-01-01 Listed for Rent $2,200 GFLMLS
• 2025-12-21 Rental Removed $2,200 GFLMLS
• 2025-12-18 Listed for Rent $2,200 GFLMLS
• 2025-11-27 Rental Removed $2,200 GFLMLS
• 2025-11-24 Listed for Rent $2,200 GFLMLS
• 2025-11-23 Rental Removed $2,200 RMLSFL
• 2025-11-23 Listed for Rent $2,200 RMLSFL
• 2024-10-21 Rental Removed $2,500 RMLSFL
• 2024-10-01 Listed for Rent $2,500 RMLSFL
• 2023-06-12 Listing Removed — MARMLS
• 2023-05-31 Rental Removed — MARMLS
• 2023-03-07 Listed $370,000 MARMLS
• 2021-10-21 Listing Removed — MARMLS
• 2021-10-11 Price Changed $244,400 MARMLS
• 2021-08-17 Listed $244,900 MARMLS
• 2009-12-14 Sold (Public Records) $70,000 Public Records
• 2009-12-03 Sold (MLS) $70,000 Beaches MLS
• 2009-11-12 Listing Removed — Beaches MLS
• 2009-04-03 Listed $80,000 Beaches MLS
• 2008-08-22 Listing Removed — Beaches MLS
• 2007-07-11 Listed $220,000 Beaches MLS
• 2006-04-13 Listing Removed — Beaches MLS
• 2006-01-12 Listed $289,000 Beaches MLS
• 2005-12-05 Sold (Public Records) $194,500 Public Records
• 2005-11-18 Sold (MLS) $194,500 Beaches MLS
• 2005-10-07 Listing Removed — Beaches MLS
• 2005-01-18 Listed $225,000 Beaches MLS
• 1990-03-09 Sold (Public Records) $75,000 Public Records
• 1974-01-01 Sold (Public Records) $52,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $3,670 · +0.9% YoY. Source: county tax records.