1500 N Congress Ave Unit C31 · West Palm Beach, FL 33401

$249,000

3 bd · 2.0 ba · 1,189 sqft · Condo public records · 102 Days on market

Built 1980 $700/mo HOA · 20% of rent

---

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 +21.2/30.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 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 MLS

VERY NICE 3/2 CONDO PRICED FOR QUICK SALE. ALL SIZES APPROX. SPECIAL ASSESS $120.74 PER MONTH

Key facts

• $700 HOA
• Community pool
• Built 1980

Property features AI

Finance

• HOA & community: Community clubhouse; Playground; Security; Maintenance services; HOA dues $700 monthly (includes maintenance of structure, water, sewer, trash, roof repairs, pool service)

Exterior

• Parking: Guest parking
• Security: Security patrol
• Utilities: Water service included in HOA; Sewer included in HOA; Electric service (electric heating and cooling); Trash service included in HOA
• Home design: Condominium; 2 stories; Resale, updated/remodeled
• Construction: CBS construction
• Exterior features: Patio; Not waterfront

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Walk-in closets

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $249k.

Deal economics

• At list price, monthly cash flow is $361 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $249k).
• Recommended offer: $227k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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.
• Zoned schools: Roosevelt Elementary School (math 22% / reading 22%, grade F, #2,080 of 2,144 statewide, top 97%, 324 students, 86% FRL); Palm Beach Lakes High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 2,688 students, 70% FRL) — zoned schools average 78% FRL vs 52% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 50% district-wide (-28 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 fast (+5.2%/yr); 507 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).

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.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $70k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y ago; this cycle's ask is 10384% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $34k; list at $249k implies a 643% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $226,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.41% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.22%
• DSCR: 1.28
• GRM: 5.9

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: -3.4%
• Equity multiple: 0.87×
• Total profit: $-9,088
• Equity at exit: $37,127

10-year hold

• IRR: 9.4%
• Equity multiple: 1.82×
• Total profit: $56,989
• Equity at exit: $21,529

Cash invested: $69,720 (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 33401

• Rents YoY: 5.2%
• Active inventory: 507
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $3,517 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$307 /mo · $3,690/yr
• Insurance: −$104
• HOA: −$700
• Vacancy / Maint / Mgmt: −$739
• Net cashflow: $361

Break-even live

Break-even rent $3,060

Max offer price $249,000

Occupancy floor 85%

Sensitivity live

Price	-10% $502	-5% $432	+0% $361	+5% $291	+10% $220
Rent	-10% $83	-5% $222	+0% $361	+5% $500	+10% $639
Rate	-1.0pp $487	-0.5pp $425	base $361	+0.5pp $297	+1.0pp $231

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	25d	1	0.21mi
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	25d	1	0.40mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	25d	1	0.48mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	17d	1	0.51mi
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$3,250	$3.04	20d	19	0.82mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	25d	1	1.18mi
1211 Pine Sage Cir West Palm Beach, FL	3.0	2.0	1367	$3,200	$2.34	6d	1	1.25mi
1319 13th St West Palm Beach, FL	3.0	2.0	1215	$3,200	$2.63	25d	1	1.32mi

HOA detail condo

• Monthly dues: $700 · $8,400/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   days on market $249,000 Active 102 DOM
2. 2026-06-18
   days on market $249,000 Active 99 DOM
3. 2026-06-17
   days on market $249,000 Active 98 DOM
4. 2026-06-16
   days on market $249,000 Active 97 DOM
5. 2026-06-15
   days on market $249,000 Active 96 DOM
6. 2026-06-13
   days on market $249,000 Active 94 DOM
7. 2026-06-09
   days on market $249,000 Active 90 DOM
8. 2026-06-08
   days on market $249,000 Active 89 DOM
9. 2026-06-07
   days on market $249,000 Active 88 DOM
10. 2026-06-04
    days on market $249,000 Active 85 DOM
11. 2026-06-03
    days on market $249,000 Active 84 DOM
12. 2026-06-02
    days on market $249,000 Active 83 DOM
13. 2026-06-01
    days on market $249,000 Active 82 DOM
14. 2026-05-31
    days on market $249,000 Active 81 DOM
15. 2026-03-18
    historical $2,375
16. 2026-03-11
    listed $2,375
17. 2026-03-03
    listed $249,000 Active
18. 2000-02-23
    soldstatus $33,500 93-char remark

    Show marketing remark (93 chars)

    VERY NICE 3/2 CONDO PRICED FOR QUICK SALE. ALL SIZES APPROX. SPECIAL ASSESS $120.74 PER MONTH

19. 2000-02-23
    soldstatus $33,500

    Show marketing remark (93 chars)

    VERY NICE 3/2 CONDO PRICED FOR QUICK SALE. ALL SIZES APPROX. SPECIAL ASSESS $120.74 PER MONTH

20. 2000-01-11
    historical 93-char remark

    Show marketing remark (93 chars)

    VERY NICE 3/2 CONDO PRICED FOR QUICK SALE. ALL SIZES APPROX. SPECIAL ASSESS $120.74 PER MONTH

21. 1999-08-24
    listed $32,000 93-char remark

    Show marketing remark (93 chars)

    VERY NICE 3/2 CONDO PRICED FOR QUICK SALE. ALL SIZES APPROX. SPECIAL ASSESS $120.74 PER MONTH

22. 1995-03-03
    soldstatus $29,000

ⓘ 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: $3,690 · $307/mo
• Projected year-2 tax: $3,690 · $307/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 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: $42,202
• − Mortgage interest: −$13,948
• − Property taxes: −$3,690
• − Insurance: −$1,245
• − Repairs & maintenance: −$3,376
• − Management: −$3,376
• − HOA: −$8,400
• − Depreciation: −$7,244
• Taxable income: $923
• Est. tax owed @ 24.0%: −$222
• After-tax cash flow: $4,114/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

-91.8% since first listed

8 events — show timeline

• 2026-03-18 Rental Removed $2,375 MARMLS
• 2026-03-11 Listed for Rent $2,375 MARMLS
• 2026-03-03 Listed $249,000 Beaches MLS
• 2000-02-23 Sold (Public Records) $33,500 Public Records
• 2000-02-23 Sold (MLS) $33,500 Beaches MLS
• 2000-01-11 Listing Removed — Beaches MLS
• 1999-08-24 Listed $32,000 Beaches MLS
• 1995-03-03 Sold (Public Records) $29,000 Public Records

Property tax history

+19.9%/yr

Latest (2025): $3,690 · +3.0% YoY. Source: county tax records.