4500 S Ocean Blvd #505 · South Palm Beach, FL 33480

$315,000

1 bd · 1.0 ba · 798 sqft · Condo public records · 53 Days on market

Built 1961 $825/mo HOA · 26% of rent

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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).

• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Cash flow +6.9/30.0
• 1% rule +5.1/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.1/10.0

Listing remarks

Oceanview from Every Room!! Experience coastal living at its finest, this beautifully maintained 5th-floor 1BR/1BA home at Imperial House is located on the quiet Barrier Island of Palm Beach, between the Atlantic Ocean and Intracoastal Waterway. This ocean view home is light-filled and has a relaxing atmosphere throughout. Enjoy private beach access, resort-style pool, rooftop sundeck, elevator access, and assigned plus guest parking. Walk to nearby dining, cafés, and resort amenities. Enjoy one of the lowest HOA fees on the beach. Seawall restoration completed in 2023. Concrete restoration is expected to be completed by June 2026. Unit 505. Impact front door replacement is being do

Key facts

• Resort style pool
• Private beach access
• Rooftop sundeck

Tags

• OCEANVIEW FROM EVERY ROOM
• PRIVATE BEACH ACCESS
• RESORT STYLE POOL
• ROOFTOP SUNDECK
• ELEVATOR ACCESS
• ASSIGNED PLUS GUEST PARKING

Property features AI

Finance

• Other: Pets allowed (cats and dogs; pet restrictions possible)
• HOA & community: HOA with monthly fee (includes grounds maintenance, water, common areas, common real estate tax); Association amenities: beach access, private beach pavilion, pool, jogging path, playground, sidewalks, street lights, other

Exterior

• Parking: 1 parking space; Guest parking; Permit required
• Utilities: Public water; Public sewer; Cable available; Water available; Sewer available
• Home design: Condominium; One level; Faces east; 6-story building (Imperial House)
• Construction: CBS construction; Concrete roof; Built area approximately 798 (builder source)
• Exterior features: Covered patio; Screened patio; Patio; Ocean access waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom on the main level
• Flooring: Ceramic tile; Laminate; Parquet; Tile
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning; Ceiling fan(s)
• Interior features: Built-in features; Closet cabinetry; Blinds on windows

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $315k.

Deal economics

• At list price, monthly cash flow is $-549 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $218k (30.8% below list).
• Meets the 1% rule at list price ($3k rent vs $315k).
• Recommended offer: $218k (30.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 72/100 on livability (#340 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute 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: Lantana Elementary School (math 30% / reading 33%, grade F, #1,841 of 2,144 statewide, top 86%, 484 students, 79% FRL); Lake Worth High School (math 16% / reading 27%, grade F, #546 of 667 statewide, top 82%, 2,683 students, 71% FRL) — zoned schools average 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 50% district-wide (-23 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 (+3.9%/yr); 447 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($2k loan paydown + $16k appreciation (5.1% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($306k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 26% of rent.
• Climate carrying-cost: severe 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 $217,958 (30.8% 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 53 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.01% ✓
• Cap rate: 4.45%
• Cash-on-cash: -6.57%
• DSCR: 0.71
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.12% appreciation · 3.92% rent growth · sell at horizon

5-year hold

• IRR: 7.5%
• Equity multiple: 1.49×
• Total profit: $43,242
• Equity at exit: $180,709

10-year hold

• IRR: 10.0%
• Equity multiple: 2.90×
• Total profit: $167,216
• Equity at exit: $313,716

Cash invested: $88,200 (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 33480

• Home prices YoY: 1.1%
• Rents YoY: 3.9%
• Active inventory: 447
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $3,175 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$383 /mo · $4,598/yr
• Insurance: −$131
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$825
• Vacancy / Maint / Mgmt: −$667
• Net cashflow: $-549

Break-even live

Break-even rent $3,871

Max offer price $217,958

Occupancy floor —

Sensitivity live

Price	-10% $-371	-5% $-460	+0% $-549	+5% $-638	+10% $-728
Rent	-10% $-800	-5% $-675	+0% $-549	+5% $-424	+10% $-298
Rate	-1.0pp $-391	-0.5pp $-469	base $-549	+0.5pp $-631	+1.0pp $-714

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3605 S Ocean Blvd Palm Beach, FL	2.0	2.0	1162	$3,350	$2.88	24d	2	0.11mi
4201 S Ocean Blvd Unit K2 Palm Beach, FL	1.0	1.5	714	$2,299	$3.22	8d	1	0.12mi
3605 S Ocean Blvd #319 Palm Beach, FL	2.0	2.0	1121	$4,000	$3.57	5d	1	0.14mi
3580 S Ocean Blvd Unit 6B Palm Beach, FL	1.0	1.5	1013	$2,500	$2.47	15d	1	0.21mi
3581 S Ocean Blvd Unit 2B Palm Beach, FL	1.0	1.5	940	$2,900	$3.09	17d	1	0.23mi
3540 S Ocean Blvd Palm Beach, FL	1.0	2.0	983	$4,000	$4.07	24d	1	0.40mi
3540 S Ocean Blvd #310 Palm Beach, FL	1.0	1.5	785	$2,100	$2.68	8d	1	0.40mi
3540 S Ocean Blvd #608 Palm Beach, FL	2.0	2.0	983	$2,950	$3.00	24d	1	0.40mi
3540 S Ocean Blvd #208 Palm Beach, FL	2.0	2.0	983	$2,750	$2.80	4d	1	0.40mi
3540 S Ocean Blvd #309 Palm Beach, FL	1.0	1.5	785	$2,300	$2.93	5d	1	0.40mi
3540 S Ocean Blvd #309 Palm Beach, FL	1.0	1.5	785	$2,400	$3.06	5d	1	0.40mi
3540 S Ocean Blvd #216 Palm Beach, FL	2.0	2.0	983	$2,550	$2.59	22d	1	0.40mi
3540 S Ocean Blvd #612 Palm Beach, FL	2.0	2.0	983	$4,700	$4.78	8d	1	0.40mi
3500 S Ocean Blvd Palm Beach, FL	1.0	1.0	580	$1,950	$3.36	1d	3	0.50mi
3475 S Ocean Blvd #6110 Palm Beach, FL	1.0	1.5	891	$3,500	$3.93	24d	1	0.53mi
3475 S Ocean Blvd #3110 Palm Beach, FL	1.0	1.5	891	$2,600	$2.92	24d	1	0.53mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$2,300	$1.86	3d	10	0.66mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$2,750	$2.22	8d	9	0.66mi
3450 S Ocean Blvd #1050 Palm Beach, FL	1.0	1.0	952	$2,950	$3.10	24d	1	0.66mi
3450 S Ocean Blvd #3280 Palm Beach, FL	1.0	1.0	952	$2,500	$2.63	24d	1	0.66mi
3450 S Ocean Blvd #8120 Palm Beach, FL	1.0	1.5	1008	$3,500	$3.47	24d	1	0.66mi
3450 S Ocean Blvd #4270 Palm Beach, FL	1.0	1.0	924	$3,250	$3.52	24d	1	0.66mi
300 Croton Ave Lantana, FL	2.0	2.0	1039	$3,000	$2.89	24d	1	0.71mi
300 Croton Ave #102 Lantana, FL	2.0	2.0	1039	$3,250	$3.13	24d	1	0.71mi
301 Croton Ave #302 Lantana, FL	1.0	1.0	702	$1,900	$2.71	24d	1	0.72mi
231 E Lantana Rd #203 Lantana, FL	2.0	2.0	950	$2,400	$2.53	4d	1	0.72mi
315 N Lake Dr Unit 6 Lantana, FL	1.0	1.0	590	$1,495	$2.53	18d	1	0.79mi
200 Croton Ave Lantana, FL	1.0–2.0	1.0	695	$1,675	$2.41	15d	2	0.80mi
115 E Lantana Rd Lantana, FL	1.0	1.0	600	$1,600	$2.67	11d	1	0.83mi
119 Sunrise Ave Unit A Lantana, FL	1.0	1.0	555	$2,400	$4.32	21d	1	0.83mi
720 N Dixie Hwy #202 Lantana, FL	2.0	2.5	1125	$2,000	$1.78	5d	1	0.84mi
107 Waterway Dr S Lantana, FL	1.0	1.5	806	$1,750	$2.17	8d	1	0.85mi
896 N Federal Hwy Lantana, FL	2.0	2.0	1027	$2,925	$2.85	8d	2	0.87mi
896 N Federal Hwy Lantana, FL	2.0	2.0	1027	$2,700	$2.63	24d	2	0.87mi
200 Waterway Dr S #202 Lantana, FL	1.0	1.5	806	$1,850	$2.30	24d	1	0.89mi
802 W Windward Way #304 Lantana, FL	1.0	1.0	839	$2,700	$3.22	24d	1	0.92mi
896 N Federal Hwy #128 Lantana, FL	2.0	2.0	1025	$3,200	$3.12	12d	1	0.93mi
303 Waterway Dr S #303 Lantana, FL	2.0	1.5	900	$2,100	$2.33	24d	1	0.94mi
300 Waterway Dr S #308 Lantana, FL	2.0	1.5	806	$2,200	$2.73	24d	1	0.95mi
329 Melody Ln Unit 331 Lantana, FL	2.0	2.0	842	$1,849	$2.20	8d	1	0.99mi

HOA detail condo

• Monthly dues: $825 · $9,900/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $315,000 Active 53 DOM
2. 2026-06-17
   days on market $315,000 Active 52 DOM
3. 2026-06-16
   days on market $315,000 Active 51 DOM
4. 2026-06-15
   days on market $315,000 Active 50 DOM
5. 2026-06-13
   days on market $315,000 Active 48 DOM
6. 2026-06-09
   days on market $315,000 Active 44 DOM
7. 2026-06-08
   days on market $315,000 Active 43 DOM
8. 2026-06-07
   days on market $315,000 Active 42 DOM
9. 2026-06-04
   days on market $315,000 Active 39 DOM
10. 2026-06-03
    days on market $315,000 Active 38 DOM
11. 2026-06-02
    days on market $315,000 Active 37 DOM
12. 2026-06-01
    days on market $315,000 Active 36 DOM
13. 2026-05-31
    days on market $315,000 Active 35 DOM
14. 2026-04-25
    listed $315,000 Active

ⓘ 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: $4,598 · $383/mo
• Projected year-2 tax: $4,598 · $383/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,102
• − Mortgage interest: −$17,645
• − Property taxes: −$4,598
• − Insurance: −$2,372
• − Repairs & maintenance: −$3,048
• − Management: −$3,048
• − HOA: −$9,900
• − Depreciation: −$9,164
• Taxable loss: −$11,673
• Est. tax savings @ 24.0%: +$2,801
• After-tax cash flow: $-3,791/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 — South Palm Beach

• Score: 72/100
• State rank: #340
• US rank: #5907

Category grades

Amenities F Commute F Cost of living C+ Crime A+ Employment B+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 10,924
• Household income: $150,633
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 213.0

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Cuban 1%
• Common ancestry: Scotch-Irish 7% Romanian 5% Italian 3%
• Foreign-born: 20% · Canada, Dominican Republic, China
• Languages at home: 84% English-only · Spanish 7% Other Indo-European 3% Russian/Polish/Slavic 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: ▲ 5.12%
• Current HPI: 464.2769
• Rent YoY: ▲ 3.92%
• 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

1 event — show timeline

• 2026-04-25 Listed $315,000 Beaches MLS

Property tax history

+5.0%/yr

Latest (2025): $4,598 · +0.5% YoY. Source: county tax records.