109 Paradise Harbour Blvd #409 · North Palm Beach, FL 33408

$240,000

1 bd · 1.0 ba · 855 sqft · Condo public records · 190 Days on market

Built 1974 $735/mo HOA · 22% 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 +19.3/30.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 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

TOTALLY UPGRADED AND UPDATED UNIT. PERHAPS THE NICEST 1BR IN BUILDING AND UPPER FLOOR WATER VIEW. WORTH A LOOK.

Key facts

• Private balcony
• Intracoastal views
• Central a/c

Tags

• WATERFRONT LIVING
• INTRACOASTAL VIEWS
• MARINA VIEWS
• PRIVATE BALCONY
• FULL APPLIANCES
• CENTRAL A/C

Property features AI

Finance

• HOA & community: Monthly HOA fee (approximately $345); Association amenities include elevator(s) and pool; HOA fee covers water, sewer and common areas; Pets allowed with possible restrictions and limits

Exterior

• Parking: Assigned parking
• Security: Smoke detector(s)
• Utilities: Three-phase electric; Public sewer; Cable available; Sewer and water included in association
• Home design: Condominium; Resale property; Five-story building; Building faces northeast
• Construction: Block/CBS construction
• Exterior features: Screened patio; Patio; Intracoastal waterfront nearby (not direct waterfront)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Built-in features; Walk-in closet(s); Insulated windows; Smoke detector(s)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $240k.

Deal economics

• At list price, monthly cash flow is $198 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $211k (12.0% 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; 9 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).
• This rent runs 44% of the median local income ($92k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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

• It's been on market 190 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 22% of rent.
• 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 $211,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 190 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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. 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?
9. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 1.40% ✓
• Cap rate: 7.61%
• Cash-on-cash: 4.72%
• DSCR: 1.21
• GRM: 6.0

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: -15.0%
• Equity multiple: 0.48×
• Total profit: $-34,717
• Equity at exit: $35,785

10-year hold

• IRR: -14.7%
• Equity multiple: 0.31×
• Total profit: $-46,633
• Equity at exit: $20,751

Cash invested: $67,200 (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: 6.0×

Monthly cashflow live

• Estimated rent: $3,349 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$288 /mo · $3,457/yr
• Insurance: −$100
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$735
• Vacancy / Maint / Mgmt: −$703
• Net cashflow: $198

Break-even live

Break-even rent $3,099

Max offer price $240,000

Occupancy floor 89%

Sensitivity live

Price	-10% $334	-5% $266	+0% $198	+5% $130	+10% $62
Rent	-10% $-67	-5% $65	+0% $198	+5% $330	+10% $462
Rate	-1.0pp $319	-0.5pp $259	base $198	+0.5pp $136	+1.0pp $72

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
524 Eastwind Dr Unit 524 North Palm Beach, FL	2.0	1.0	774	$3,995	$5.16	24d	1	0.29mi
522 Eastwind Dr North Palm Beach, FL	2.0	2.0	948	$3,995	$4.21	24d	1	0.29mi
526 Eastwind Dr Unit 526 North Palm Beach, FL	2.0	1.0	840	$3,995	$4.76	24d	1	0.30mi
913 Lake Shore Dr Lake Park, FL	1.0–2.0	1.0–2.0	1066	$2,263	$2.12	2d	9	0.61mi
308 Southwind Ct Unit 8 North Palm Beach, FL	2.0	2.0	1100	$2,900	$2.64	24d	1	0.75mi
624 Southwind Cir #2 North Palm Beach, FL	2.0	2.0	718	$3,750	$5.22	24d	1	0.81mi
220 Lake Shore Dr Lake Park, FL	1.0–3.0	1.5–3.5	1575	$3,995	$2.54	5d	18	1.09mi
5400 N Ocean Dr Riviera Beach, FL	1.0–2.0	1.0–2.0	1300	$3,400	$2.62	22d	3	1.20mi
20 Yacht Club Dr #405 North Palm Beach, FL	2.0	2.0	1010	$3,000	$2.97	24d	1	1.33mi

HOA detail condo

• Monthly dues: $735 · $8,820/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $240,000 Active 190 DOM
2. 2026-06-17
   days on market $240,000 Active 189 DOM
3. 2026-06-16
   days on market $240,000 Active 188 DOM
4. 2026-06-15
   days on market $240,000 Active 187 DOM
5. 2026-06-13
   days on market $240,000 Active 185 DOM
6. 2026-06-09
   days on market $240,000 Active 181 DOM
7. 2026-06-07
   days on market $240,000 Active 179 DOM
8. 2026-06-04
   days on market $240,000 Active 176 DOM
9. 2026-06-03
   days on market $240,000 Active 175 DOM
10. 2026-05-31
    days on market $240,000 Active 174 DOM
11. 2026-03-18
    price $240,000
12. 2026-01-24
    price $245,000
13. 2025-12-08
    listed $255,000 Active
14. 2022-06-07
    soldstatus $219,253
15. 2009-09-21
    historical
16. 2009-03-31
    listed $169,000
17. 2009-03-14
    historical 111-char remark

    Show marketing remark (111 chars)

    TOTALLY UPGRADED AND UPDATED UNIT. PERHAPS THE NICEST 1BR IN BUILDING AND UPPER FLOOR WATER VIEW. WORTH A LOOK.

18. 2008-10-03
    listed $169,000 111-char remark

    Show marketing remark (111 chars)

    TOTALLY UPGRADED AND UPDATED UNIT. PERHAPS THE NICEST 1BR IN BUILDING AND UPPER FLOOR WATER VIEW. WORTH A LOOK.

19. 2007-11-30
    soldstatus $162,500
20. 2007-11-30
    soldstatus $162,500
21. 2007-09-21
    historical
22. 2006-05-01
    listed $179,900
23. 2005-04-12
    soldstatus $125,000
24. 1993-08-31
    soldstatus $47,000
25. 1974-01-01
    soldstatus $25,000

ⓘ 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: $3,457 · $288/mo
• Projected year-2 tax: $3,457 · $288/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 7/10 Severe FEMA zone X (shaded) · 91% chance over 30 yrs
• 🔥 Wildfire 3/10 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: $40,190
• − Mortgage interest: −$13,444
• − Property taxes: −$3,457
• − Insurance: −$1,997
• − Repairs & maintenance: −$3,215
• − Management: −$3,215
• − HOA: −$8,820
• − Depreciation: −$6,982
• Taxable loss: −$940
• Est. tax savings @ 24.0%: +$226
• After-tax cash flow: $2,598/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

+860.0% since first listed

15 events — show timeline

• 2026-03-18 Price Changed $240,000 Beaches MLS
• 2026-01-24 Price Changed $245,000 Beaches MLS
• 2025-12-08 Listed $255,000 Beaches MLS
• 2022-06-07 Sold (Public Records) $219,253 Public Records
• 2009-09-21 Listing Removed — Beaches MLS
• 2009-03-31 Listed $169,000 Beaches MLS
• 2009-03-14 Listing Removed — Beaches MLS
• 2008-10-03 Listed $169,000 Beaches MLS
• 2007-11-30 Sold (Public Records) $162,500 Public Records
• 2007-11-30 Sold (MLS) $162,500 Beaches MLS
• 2007-09-21 Listing Removed — Beaches MLS
• 2006-05-01 Listed $179,900 Beaches MLS
• 2005-04-12 Sold (Public Records) $125,000 Public Records
• 1993-08-31 Sold (Public Records) $47,000 Public Records
• 1974-01-01 Sold (Public Records) $25,000 Public Records

Property tax history

+6.9%/yr

Latest (2025): $3,457 · +0.2% YoY. Source: county tax records.