121 Wettaw Ln #112 · North Palm Beach, FL 33408

$205,000

1 bd · 1.0 ba · 666 sqft · Condo public records · 83 Days on market

Built 1969 $600/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 +21.4/30.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 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

Great News! The DOCK in front of the unit is available. Bring your Boat and move into this remodeled and redecorated condo. Hurricane Panels on Sliders and Low Impact front window. Shows absolutely beautiful. Low HOA fee provides Pool and maintains the seawall and grounds. Great LOCATION! 2 mi to NPB CC Golf, Tennis & Pool. 3 mi to Singer Island Beach. Oceanside Beach Service available. 6 mi to John MacArthur Beach State Park to picnic, beach, trails, kayak and more. Walk or Bike to shops, restaurants, entertainment, salon, market, pharmacy and bus route. Just a few minutes drive to Target, Lowe's, dog park and so much more.

Key facts

• $600 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Pets allowed with number and size limits
• Financial info: No land lease
• HOA & community: Windsor Park Condo Association; Monthly HOA fee; Association amenities include laundry, pool, storage, sidewalks, street lights, and other community features; HOA covers cable TV, internet, insurance, grounds and structure maintenance, pest control, sewer, trash, common areas, and pool service

Exterior

• Parking: Assigned open parking (1 space) with guest parking; asphalt
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; One level; Resale property; Faces south
• Construction: Built with stucco and concrete block (CBS); Metal and mixed roof; Block foundation; 2-story building
• Exterior features: Covered patio; Open patio; Screened patio; Patio; Terrace; Glass-enclosed patio; Waterfront with intracoastal access and no fixed bridge; Cul-de-sac; Sidewalks; Paved road; public maintained

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Disposal; Electric water heater
• Bedrooms: 1 bedroom on the main level
• Flooring: Tile
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Entrance foyer; Unfurnished
• Laundry & utility: Laundry in a common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $205k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $205k).
• Recommended offer: $193k (6.0% 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: Lake Park Elementary School (math 57% / reading 62%, grade B-, #690 of 2,144 statewide, top 34%, 389 students, 83% FRL); 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 74% FRL vs 52% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 400 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 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 37% 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 $1k of loan paydown is wiped out by about $6k 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 83 days — a 6% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 $135k; list at $205k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 21% of rent.
• 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 $192,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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: 1.39% ✓
• Cap rate: 8.08%
• Cash-on-cash: 6.37%
• DSCR: 1.28
• 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: -12.6%
• Equity multiple: 0.56×
• Total profit: $-25,266
• Equity at exit: $30,566

10-year hold

• IRR: -10.5%
• Equity multiple: 0.47×
• Total profit: $-30,426
• Equity at exit: $17,725

Cash invested: $57,400 (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 33408

• Rents YoY: 0.3%
• Active inventory: 400
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,851 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$187 /mo · $2,249/yr
• Insurance: −$85
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$600
• Vacancy / Maint / Mgmt: −$599
• Net cashflow: $238

Break-even live

Break-even rent $2,550

Max offer price $205,000

Occupancy floor 87%

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
913 Lake Shore Dr Lake Park, FL	1.0–2.0	1.0–2.0	1066	$2,263	$2.12	2d	9	0.33mi
220 Lake Shore Dr Lake Park, FL	1.0–3.0	1.5–3.5	1575	$3,995	$2.54	4d	18	0.82mi
624 Southwind Cir #2 North Palm Beach, FL	2.0	2.0	718	$3,750	$5.22	24d	1	0.93mi

HOA detail condo

• Monthly dues: $600 · $7,200/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $205,000 Active 83 DOM
2. 2026-06-17
   days on market $205,000 Active 82 DOM
3. 2026-06-16
   days on market $205,000 Active 81 DOM
4. 2026-06-15
   days on market $205,000 Active 80 DOM
5. 2026-06-13
   days on market $205,000 Active 78 DOM
6. 2026-06-09
   days on market $205,000 Active 74 DOM
7. 2026-06-08
   days on market $205,000 Active 73 DOM
8. 2026-06-07
   days on market $205,000 Active 72 DOM
9. 2026-06-04
   days on market $205,000 Active 69 DOM
10. 2026-06-03
    days on market $205,000 Active 68 DOM
11. 2026-06-02
    days on market $205,000 Active 67 DOM
12. 2026-06-01
    days on market $205,000 Active 66 DOM
13. 2026-05-31
    days on market $205,000 Active 65 DOM
14. 2026-05-08
    historical Active Under Contract
15. 2026-03-27
    listed $205,000 Active
16. 2017-02-10
    soldstatus $135,000
17. 2017-02-07
    soldstatus $135,000 Closed 639-char remark

    Show marketing remark (639 chars)

    Great News! The DOCK in front of the unit is available. Bring your Boat and move into this remodeled and redecorated condo. Hurricane Panels on Sliders and Low Impact front window. Shows absolutely beautiful. Low HOA fee provides Pool and maintains the seawall and grounds. Great LOCATION! 2 mi to NPB CC Golf, Tennis & Pool. 3 mi to Singer Island Beach. Oceanside Beach Service available. 6 mi to John MacArthur Beach State Park to picnic, beach, trails, kayak and more. Walk or Bike to shops, restaurants, entertainment, salon, market, pharmacy and bus route. Just a few minutes drive to Target, Lowe's, dog park and so much more.

18. 2017-01-23
    status Pending 639-char remark

    Show marketing remark (639 chars)

    Great News! The DOCK in front of the unit is available. Bring your Boat and move into this remodeled and redecorated condo. Hurricane Panels on Sliders and Low Impact front window. Shows absolutely beautiful. Low HOA fee provides Pool and maintains the seawall and grounds. Great LOCATION! 2 mi to NPB CC Golf, Tennis & Pool. 3 mi to Singer Island Beach. Oceanside Beach Service available. 6 mi to John MacArthur Beach State Park to picnic, beach, trails, kayak and more. Walk or Bike to shops, restaurants, entertainment, salon, market, pharmacy and bus route. Just a few minutes drive to Target, Lowe's, dog park and so much more.

19. 2016-12-16
    historical Active Under Contract 639-char remark

    Show marketing remark (639 chars)

    Great News! The DOCK in front of the unit is available. Bring your Boat and move into this remodeled and redecorated condo. Hurricane Panels on Sliders and Low Impact front window. Shows absolutely beautiful. Low HOA fee provides Pool and maintains the seawall and grounds. Great LOCATION! 2 mi to NPB CC Golf, Tennis & Pool. 3 mi to Singer Island Beach. Oceanside Beach Service available. 6 mi to John MacArthur Beach State Park to picnic, beach, trails, kayak and more. Walk or Bike to shops, restaurants, entertainment, salon, market, pharmacy and bus route. Just a few minutes drive to Target, Lowe's, dog park and so much more.

20. 2016-12-12
    listed $130,000 Active 639-char remark

    Show marketing remark (639 chars)

    Great News! The DOCK in front of the unit is available. Bring your Boat and move into this remodeled and redecorated condo. Hurricane Panels on Sliders and Low Impact front window. Shows absolutely beautiful. Low HOA fee provides Pool and maintains the seawall and grounds. Great LOCATION! 2 mi to NPB CC Golf, Tennis & Pool. 3 mi to Singer Island Beach. Oceanside Beach Service available. 6 mi to John MacArthur Beach State Park to picnic, beach, trails, kayak and more. Walk or Bike to shops, restaurants, entertainment, salon, market, pharmacy and bus route. Just a few minutes drive to Target, Lowe's, dog park and so much more.

21. 2003-04-03
    soldstatus $65,000
22. 1992-01-03
    soldstatus $48,000

ⓘ 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: $2,249 · $187/mo
• Projected year-2 tax: $2,249 · $187/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) · 96% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,214
• − Mortgage interest: −$11,483
• − Property taxes: −$2,249
• − Insurance: −$1,822
• − Repairs & maintenance: −$2,737
• − Management: −$2,737
• − HOA: −$7,200
• − Depreciation: −$5,964
• Taxable income: $22
• Est. tax owed @ 24.0%: −$5
• After-tax cash flow: $2,852/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

+327.1% since first listed

9 events — show timeline

• 2026-05-08 Contingent — Beaches MLS
• 2026-03-27 Listed $205,000 Beaches MLS
• 2017-02-10 Sold (Public Records) $135,000 Public Records
• 2017-02-07 Sold (MLS) $135,000 Beaches MLS
• 2017-01-23 Pending — Beaches MLS
• 2016-12-16 Contingent — Beaches MLS
• 2016-12-12 Listed $130,000 Beaches MLS
• 2003-04-03 Sold (Public Records) $65,000 Public Records
• 1992-01-03 Sold (Public Records) $48,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $2,249 · +0.8% YoY. Source: county tax records.