San Benito Way · West Palm Beach, FL 33401

$309,000

2 bd · 2.5 ba · 1,448 sqft · Townhouse · 101 Days on market

Built 2006 Good condition

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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 +24.4/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +4.0/5.0
• Rent growth +3.8/5.0
• Appreciation +0.0/10.0

Key facts

• Built 2006
• Listed 101 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $309k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $629 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $309k).
• Recommended offer: $281k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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.
• Market conditions: Rents rising fast (+5.2%/yr); 507 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• At $3,500/mo this rent would consume 62% of the median local household income ($68k/yr) (locally 2953% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 $87k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($281k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $281,190 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.13% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.73%
• DSCR: 1.39
• GRM: 7.4

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-2,208
• Equity at exit: $46,073

10-year hold

• IRR: 11.2%
• Equity multiple: 1.96×
• Total profit: $83,058
• Equity at exit: $26,717

Cash invested: $86,520 (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: 7.4×

Monthly cashflow live

• Estimated rent: $3,500 high
• Mortgage (P&I): −$1,620
• Tax est. 1.5%: −$386 /mo · $4,635/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $629

Break-even live

Break-even rent $2,703

Max offer price $309,000

Occupancy floor 77%

Sensitivity live

Price	-10% $843	-5% $736	+0% $629	+5% $522	+10% $416
Rent	-10% $353	-5% $491	+0% $629	+5% $767	+10% $906
Rate	-1.0pp $785	-0.5pp $708	base $629	+0.5pp $549	+1.0pp $468

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: $77,250
• Closing costs: $9,270
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$2,705	$2.53	21d	19	0.11mi
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	25d	1	0.89mi
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	25d	1	0.95mi
1900 Consulate Pl #1005 West Palm Beach, FL	2.0	2.0	1557	$4,900	$3.15	16d	1	1.00mi
1319 13th St West Palm Beach, FL	3.0	2.0	1215	$3,200	$2.63	25d	1	1.08mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	17d	1	1.11mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	25d	1	1.15mi
300 S Australian Ave West Palm Beach, FL	3.0	2.0	1377	$6,000	$4.36	25d	1	1.17mi
300 S Australian Ave #419 West Palm Beach, FL	2.0	2.0	1186	$3,750	$3.16	18d	1	1.17mi
300 S Australian Ave #125 West Palm Beach, FL	2.0	2.5	1871	$7,000	$3.74	12d	1	1.17mi
300 S Australian Ave #1608 West Palm Beach, FL	2.0	2.0	1085	$6,000	$5.53	25d	1	1.17mi
300 S Australian Ave #1605 West Palm Beach, FL	3.0	2.0	1188	$4,800	$4.04	25d	1	1.17mi
300 S Australian Ave #1418 West Palm Beach, FL	2.0	2.0	1225	$7,000	$5.71	0d	1	1.17mi
300 S Australian Ave West Palm Beach, FL	2.0	2.0	1245	$3,250	$2.61	0d	1	1.17mi
2400 Presidential Way #1906 West Palm Beach, FL	1.0	2.0	1294	$3,000	$2.32	25d	1	1.20mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	727	$4,653	$6.40	25d	19	1.20mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	731	$6,632	$9.07	12d	16	1.20mi
2450 Presidential Way #7 West Palm Beach, FL	2.0	2.0	1855	$4,700	$2.53	25d	1	1.28mi
2450 Presidential Way #7 West Palm Beach, FL	2.0	2.0	1855	$4,700	$2.53	3d	1	1.28mi
2480 Presidential Way #1903 West Palm Beach, FL	2.0	2.0	1855	$4,650	$2.51	25d	1	1.30mi
2480 Presidential Way #902 West Palm Beach, FL	2.0	2.0	1855	$4,650	$2.51	6d	1	1.30mi
921 8th St West Palm Beach, FL	3.0	1.0	1000	$3,395	$3.40	25d	1	1.31mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1130	$3,245	$2.87	4d	3	1.31mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1090	$3,248	$2.98	12d	3	1.31mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1112	$3,348	$3.01	6d	2	1.31mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1090	$3,348	$3.07	15d	2	1.31mi
2615 Hiawatha Ave West Palm Beach, FL	3.0	2.0	1276	$2,950	$2.31	4d	1	1.32mi
616 Clearwater Park Rd Unit Lp01 West Palm Beach, FL	2.0	2.0	1112	$3,495	$3.14	25d	1	1.32mi
2665 Hiawatha Ave West Palm Beach, FL	3.0	2.0	1276	$3,005	$2.36	25d	1	1.32mi
2671 Hiawatha Ave West Palm Beach, FL	3.0	2.0	1276	$3,005	$2.36	25d	1	1.33mi
2677 Hiawatha Ave West Palm Beach, FL	3.0	2.0	1276	$3,005	$2.36	25d	1	1.33mi
2683 Hiawatha Ave West Palm Beach, FL	3.0	2.0	1276	$3,005	$2.36	25d	1	1.33mi
2689 Hiawatha Ave West Palm Beach, FL	3.0	2.0	1276	$2,950	$2.31	4d	1	1.33mi
1104 State St Unit C West Palm Beach, FL	3.0	1.0	875	$3,000	$3.43	25d	1	1.50mi

Listing history 13 events

1. 2026-06-21
   days on market $309,000 Active 101 DOM
2. 2026-06-18
   days on market $309,000 Active 98 DOM
3. 2026-06-17
   days on market $309,000 Active 97 DOM
4. 2026-06-16
   days on market $309,000 Active 96 DOM
5. 2026-06-15
   days on market $309,000 Active 95 DOM
6. 2026-06-13
   days on market $309,000 Active 93 DOM
7. 2026-06-09
   days on market $309,000 Active 89 DOM
8. 2026-06-07
   days on market $309,000 Active 87 DOM
9. 2026-06-04
   days on market $309,000 Active 84 DOM
10. 2026-06-03
    days on market $309,000 Active 83 DOM
11. 2026-06-01
    days on market $309,000 Active 81 DOM
12. 2026-05-31
    days on market $309,000 Active 80 DOM
13. 2026-03-12
    listed $309,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 5 d/yr ≥105°F today · 17 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: $41,995
• − Mortgage interest: −$17,309
• − Property taxes: −$4,635
• − Insurance: −$1,545
• − Repairs & maintenance: −$3,360
• − Management: −$3,360
• − Depreciation: −$8,989
• Taxable income: $2,798
• Est. tax owed @ 24.0%: −$672
• After-tax cash flow: $6,880/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This townhouse is in good condition with modern appliances and well-maintained landscaping. It has potential for further value increase with exterior painting and flooring updates.

Value-add opportunities

• Resale paint exterior — enhances curb appeal
• Resale trim landscaping — improves curb appeal
• Both update flooring — modernizes and increases value
• Both update kitchen appliances — modernizes and increases value
• Both update bathrooms — modernizes and increases value

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — enhances curb appeal ↑
• Resale trim landscaping — improves curb appeal ↑
• Both update flooring — modernizes and increases value ↑
• Both update kitchen appliances — modernizes and increases value ↑
• Both update bathrooms — modernizes and increases value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-03-12 Listed $309,000 ForSaleByOwner.com