1950 N Congress Ave #206 · West Palm Beach, FL 33401

$120,000

1 bd · 1.5 ba · 720 sqft · Condo public records · 19 Days on market

Built 1981 $425/mo HOA · 16% of rent

---

Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

GREAT INVESTMENT OPPORTUNITY. ROI AT APPROX. 10% ANNUALLY. THIS UNIT IS RENTED AT $900/MO THROUGH 11/30/2017. This unit is freshly updated with new paint, new floors inside, new outdoor carpet on the balcony as well as new screens on the long balcony and the AC less than 1 year. Also, water is included in the low monthly dues.

Key facts

• Guest parking
• Accessible location
• Second floor unit

Tags

• SECOND FLOOR UNIT
• UPDATED UNIT
• LANDSCAPED GROUNDS
• GUEST PARKING
• ACCESSIBLE LOCATION

Property features AI

Finance

• Other: No land lease
• Financial info: Pets allowed with breed restrictions; Community contains 436 units
• HOA & community: Community association (Presidential Golfview) with monthly fee; Association amenities include clubhouse, laundry, management, pool, on-site manager, trash chute and sidewalks; Association fee covers insurance, grounds maintenance, security, sewer, trash, water, common areas and common real estate tax

Exterior

• Parking: Two open parking spaces
• Security: Security patrol
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Water available; Sewer available
• Home design: Condominium; One level; Resale property; Faces west
• Construction: Concrete construction; Other roof; Four-story building; Building name: J
• Exterior features: Screened porch; Porch; Concrete road surface; Public maintained road; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Laminate; Other window features
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Unfurnished
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $789 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.2% 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; 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 $830 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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 $60k; list at $120k implies a 100% 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,200 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.21% ✓
• Cap rate: 14.19%
• Cash-on-cash: 28.19%
• DSCR: 2.25
• GRM: 3.8

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: 25.7%
• Equity multiple: 2.10×
• Total profit: $37,015
• Equity at exit: $17,892

10-year hold

• IRR: 35.1%
• Equity multiple: 4.67×
• Total profit: $123,448
• Equity at exit: $10,375

Cash invested: $33,600 (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: 3.8×

Monthly cashflow live

• Estimated rent: $2,653 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$202 /mo · $2,428/yr
• Insurance: −$50
• HOA: −$425
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $789

Break-even live

Break-even rent $1,654

Max offer price $120,000

Occupancy floor 65%

Sensitivity live

Price	-10% $857	-5% $823	+0% $789	+5% $755	+10% $721
Rent	-10% $580	-5% $684	+0% $789	+5% $894	+10% $999
Rate	-1.0pp $850	-0.5pp $820	base $789	+0.5pp $758	+1.0pp $726

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $425 · $5,100/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-21
   days on market $120,000 Active 19 DOM
2. 2026-06-18
   days on market $120,000 Active 16 DOM
3. 2026-06-17
   days on market $120,000 Active 15 DOM
4. 2026-06-16
   days on market $120,000 Active 14 DOM
5. 2026-06-15
   days on market $120,000 Active 13 DOM
6. 2026-06-13
   days on market $120,000 Active 11 DOM
7. 2026-06-09
   days on market $120,000 Active 7 DOM
8. 2026-06-08
   days on market $120,000 Active 6 DOM
9. 2026-06-07
   days on market $120,000 Active 5 DOM
10. 2026-06-04
    days on market $120,000 Active 2 DOM
11. 2026-06-02
    remarks 507-char remark
12. 2026-06-02
    listed $120,000 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: $2,428 · $202/mo
• Projected year-2 tax: $2,428 · $202/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 · 23 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: $31,836
• − Mortgage interest: −$6,722
• − Property taxes: −$2,428
• − Insurance: −$600
• − Repairs & maintenance: −$2,547
• − Management: −$2,547
• − HOA: −$5,100
• − Depreciation: −$3,491
• Taxable income: $8,401
• Est. tax owed @ 24.0%: −$2,016
• After-tax cash flow: $7,454/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

+176.5% since first listed

14 events — show timeline

• 2026-06-02 Listed $120,000 Beaches MLS
• 2026-01-25 Rental Removed $1,550 APPFOLIO
• 2025-12-06 Price Changed $1,550 APPFOLIO
• 2025-09-19 Listed for Rent $1,600 APPFOLIO
• 2017-03-01 Sold (Public Records) $60,000 Public Records
• 2017-02-28 Sold (MLS) $60,000 Beaches MLS
• 2017-01-30 Contingent — Beaches MLS
• 2016-10-16 Listed $68,000 Beaches MLS
• 2016-06-01 Listing Removed — Beaches MLS
• 2015-11-14 Listed $71,500 Beaches MLS
• 2010-09-01 Sold (Public Records) $24,000 Public Records
• 2008-04-24 Listing Removed — Beaches MLS
• 2008-02-18 Listed $65,000 Beaches MLS
• 1988-06-07 Sold (Public Records) $43,400 Public Records

Property tax history

+12.3%/yr

Latest (2025): $2,428 · +6.1% YoY. Source: county tax records.