513 El Vedado · West Palm Beach, FL 33405

$480,000

3 bd · 1.0 ba · 1,210 sqft · SingleFamily public records · 477 Days on market

Built 1980 5,350 sqft lot

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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 +11.6/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• DSCR +3.4/10.0
• Rent growth +3.4/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming Home with Attached Studio in Vibrant West Palm Beach Welcome to 513 El Vedado, a charming home featuring 3 bedrooms and 2 bathrooms, with an attached studio in the heart of West Palm Beach, Florida. Prime Location Located in the desirable Vista Encanto subdivision, this home is just minutes from South Olive Park, Grandview Public Market, and the Norton Museum of Art, with easy access to the beach and golf courses. Endless Potential Whether you're a first-time homebuyer, looking to downsize, or seeking an investment opportunity, this home offers endless potential in a prime location. Don't miss the chance to make this charming home and attached studio your own, and experien

Key facts

• Access to beach
• Attached studio
• Prime location

Tags

• ATTACHED STUDIO
• PRIME LOCATION
• VISTA ENCANTO SUBDIVISION
• MINUTES FROM SOUTH OLIVE PARK
• ACCESS TO BEACH
• ACCESS TO GOLF COURSES

Property features AI

Finance

• Other: Pets allowed
• HOA & community: No association amenities

Exterior

• Utilities: Three-phase electric
• Home design: Single-family residence; Single-story; Faces north; Resale property
• Construction: CBS construction
• Exterior features: Patio; Fenced yard; Not waterfront

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 3 main-level bedrooms
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets
• Laundry & utility: Indoor laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $480k.

Deal economics

• At list price, monthly cash flow is $-153 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $458k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $400k (16.6% below list).
• Recommended offer: $400k (16.6% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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 (+3.4%/yr); 212 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $4,005/mo this rent would consume 55% of the median local household income ($87k/yr) (locally 1055% 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 $3k of loan paydown is wiped out by about $14k 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 477 days — a 12% lower offer ($422k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $35k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $480k implies a 586% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $400,490 (16.6% 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 477 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.83% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.37%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.44% rent growth · sell at horizon

5-year hold

• IRR: -18.0%
• Equity multiple: 0.36×
• Total profit: $-85,703
• Equity at exit: $71,570

10-year hold

• IRR: -9.4%
• Equity multiple: 0.41×
• Total profit: $-79,583
• Equity at exit: $41,502

Cash invested: $134,400 (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 33405

• Rents YoY: 3.4%
• Active inventory: 212
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $4,005 high
• Mortgage (P&I): −$2,517
• Tax est. 1.5%: −$600 /mo · $7,200/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$841
• Net cashflow: $-153

Break-even live

Break-even rent $4,199

Max offer price $457,817

Occupancy floor 99%

Sensitivity live

Price	-10% $178	-5% $13	+0% $-153	+5% $-319	+10% $-485
Rent	-10% $-470	-5% $-311	+0% $-153	+5% $5	+10% $163
Rate	-1.0pp $88	-0.5pp $-31	base $-153	+0.5pp $-278	+1.0pp $-404

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: $120,000
• Closing costs: $14,400
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
521 Hampton Rd West Palm Beach, FL	2.0	1.0	1188	$4,000	$3.37	25d	1	0.21mi
3331 Lake Ave West Palm Beach, FL	2.0	1.0	775	$3,500	$4.52	25d	1	0.25mi
3111 S Dixie Hwy West Palm Beach, FL	3.0	1.0–2.0	1024	$5,172	$5.05	0d	15	0.33mi
712 Tuscaloosa St West Palm Beach, FL	4.0	2.0	1390	$4,495	$3.23	25d	1	0.35mi
604 Piedmont Rd West Palm Beach, FL	4.0	2.0	1329	$3,500	$2.63	8d	1	0.40mi
3701 S Flagler Dr Unit B303 West Palm Beach, FL	2.0	2.0	1290	$3,850	$2.98	4d	1	0.51mi
3800 Washington Rd West Palm Beach, FL	2.0–3.0	2.0	1318	$10,000	$7.59	2d	6	0.54mi
3800 Washington Rd West Palm Beach, FL	2.0–3.0	2.0	1318	$10,000	$7.59	8d	5	0.54mi
3800 Washington Rd West Palm Beach, FL	2.0–3.0	2.0	1318	$10,000	$7.59	21d	4	0.54mi
3901 S Flagler Dr West Palm Beach, FL	2.0–5.0	2.0–5.0	2266	$6,000	$2.65	3d	6	0.58mi
3901 S Flagler Dr West Palm Beach, FL	2.0–5.0	2.0–5.0	2266	$6,333	$2.79	22d	6	0.58mi
240 Almeria Rd West Palm Beach, FL	3.0	3.0	1092	$9,000	$8.24	4d	1	0.61mi
719 Briggs St West Palm Beach, FL	3.0	2.0	1328	$3,500	$2.64	21d	1	0.62mi
904 Ortega Rd West Palm Beach, FL	3.0	1.0	910	$3,500	$3.85	6d	1	0.70mi
605 Sunset Rd West Palm Beach, FL	3.0	2.0	1434	$4,000	$2.79	25d	1	0.76mi
616 Upland Rd West Palm Beach, FL	3.0	2.0	1456	$4,500	$3.09	21d	1	0.83mi
616 Upland Rd West Palm Beach, FL	3.0	2.0	1456	$4,500	$3.09	25d	1	0.83mi
353 E Lakewood Rd West Palm Beach, FL	3.0	2.0	1440	$5,650	$3.92	25d	1	0.83mi
733 Green St West Palm Beach, FL	2.0	1.0	1116	$3,400	$3.05	3d	1	0.87mi
5003 Garden Ave West Palm Beach, FL	4.0	2.0	1220	$2,950	$2.42	15d	1	0.88mi
5008 Parker Ave West Palm Beach, FL	3.0	2.0	1318	$4,000	$3.03	25d	1	0.94mi
833 Ardmore Rd West Palm Beach, FL	3.0	2.5	1132	$4,500	$3.98	16d	1	0.94mi
833 Ardmore Rd West Palm Beach, FL	3.0	2.5	1132	$4,500	$3.98	17d	1	0.94mi
110 Wilson Rd West Palm Beach, FL	3.0	1.0	1433	$8,000	$5.58	25d	1	1.05mi
727 Bunker Rd West Palm Beach, FL	3.0	1.0	875	$3,200	$3.66	21d	1	1.13mi
1911 Parker Ave West Palm Beach, FL	2.0	2.0	1135	$14,000	$12.33	25d	1	1.13mi
1713 Florida Ave Unit A2 West Palm Beach, FL	2.0	1.0	888	$3,500	$3.94	25d	1	1.18mi
1801 S Flagler Dr #1104 West Palm Beach, FL	2.0	2.0	1086	$3,750	$3.45	0d	1	1.19mi
1801 S Flagler Dr #1105 West Palm Beach, FL	2.0	2.0	1348	$7,000	$5.19	25d	1	1.19mi
1050 Blanche St West Palm Beach, FL	2.0	1.0–2.0	740	$3,374	$4.56	3d	8	1.23mi
512 Revere Rd West Palm Beach, FL	4.0	2.0	1371	$3,395	$2.48	25d	1	1.29mi
512 Revere Rd West Palm Beach, FL	4.0	2.0	1371	$3,395	$2.48	16d	1	1.29mi
1501 S Flagler Dr Unit 5G West Palm Beach, FL	2.0	2.0	1115	$4,500	$4.04	6d	1	1.38mi
360 Palmetto St West Palm Beach, FL	2.0	2.0	1318	$3,600	$2.73	3d	1	1.40mi
1500 Centrepark Blvd West Palm Beach, FL	2.0	1.0–2.0	862	$3,015	$3.50	0d	18	1.42mi

Listing history 18 events

1. 2026-06-18
   days on market $480,000 Active 477 DOM
2. 2026-06-17
   days on market $480,000 Active 476 DOM
3. 2026-06-16
   days on market $480,000 Active 475 DOM
4. 2026-06-15
   days on market $480,000 Active 474 DOM
5. 2026-06-13
   days on market $480,000 Active 472 DOM
6. 2026-06-09
   days on market $480,000 Active 468 DOM
7. 2026-06-07
   days on market $480,000 Active 466 DOM
8. 2026-06-04
   days on market $480,000 Active 463 DOM
9. 2026-06-03
   days on market $480,000 Active 462 DOM
10. 2026-06-01
    days on market $480,000 Active 460 DOM
11. 2026-05-31
    days on market $480,000 Active 459 DOM
12. 2026-02-23
    price $480,000
13. 2026-02-23
    status Active
14. 2026-02-22
    historical
15. 2025-04-18
    price $500,000
16. 2025-02-23
    listed $515,000 Active
17. 1998-04-01
    soldstatus $70,000
18. 1980-09-01
    soldstatus $38,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,059
• − Mortgage interest: −$26,887
• − Property taxes: −$7,200
• − Insurance: −$2,400
• − Repairs & maintenance: −$3,845
• − Management: −$3,845
• − Depreciation: −$13,964
• Taxable loss: −$10,082
• Est. tax savings @ 24.0%: +$2,420
• After-tax cash flow: $580/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): 19,780
• Household income: $87,341
• Rent vs Own: 43.7% rent · 56.3% own
• Severe rent burden: 1055.0

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: Majority Hispanic (51%)
• Race & ethnicity: Hispanic / Latino 51% White 44% Two or more races 24% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 5% Cuban 17% Dominican 2%
• Common ancestry: Scotch-Irish 2% Slovak 2% Romanian 2%
• Foreign-born: 37% · Canada, Guatemala, Jamaica
• Languages at home: 50% English-only · Spanish 44% Other Indo-European 2% 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: ▼ -662.68%
• Current HPI: 509.781
• Rent YoY: ▲ 3.44%
• 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

+1146.8% since first listed

7 events — show timeline

• 2026-02-23 Price Changed $480,000 Beaches MLS
• 2026-02-23 Relisted — Beaches MLS
• 2026-02-22 Listing Removed — Beaches MLS
• 2025-04-18 Price Changed $500,000 Beaches MLS
• 2025-02-23 Listed $515,000 Beaches MLS
• 1998-04-01 Sold (Public Records) $70,000 Public Records
• 1980-09-01 Sold (Public Records) $38,500 Public Records

Property tax history

-0.0%/yr

Latest (2025): $933 · +5.2% YoY. Source: county tax records.