3711 37th Way · West Palm Beach, FL 33407

$240,000

2 bd · 2.5 ba · 1,236 sqft · Townhouse public records · 20 Days on market

Built 1984 1,346 sqft lot Est $230k · at est. $634/mo HOA · 23% 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).

• Cash flow +13.0/30.0
• 1% rule +6.7/10.0
• ARV discount +5.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• DSCR +3.9/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready! THE best location in the neighborhood, w/ water views & close to amenities. Just min from Dwntwn WPB, Ballpark of the Palm Beaches, more. Enter thru a gated courtyard, perfect for grilling & enjoying privacy outdoors. Featuring on-trend laminate flrs thruout, w/ a perfect floor plan for living & entertaining, this spacious home feat: updated Kit, w/ granite, s/s appl & Brkfst Bar, open to Dining area; Spacious Liv Rm w/ slider to courtyard; 1st fl half-bath/laundry. Upstrs, both bdrms w/ sliders to balconies to enjoy the waterviews. Relax in the lg Master Suite, w/ huge walk-in closet w/ orgnizrs. Mstr Bath has granite top & lg shower. 2 parking spots/lots of guest prkg. Quiet community has 3 amenity areas w/ pools, lit tennis, tot lots, volleyball, basketball, jog/fitness trails.

Key facts

• Updated kitchen
• Granite counters
• Large primary suite

Tags

• UPDATED KITCHEN
• GRANITE COUNTERS
• STAINLESS STEEL APPLIANCES
• PRIVATE GATED COURTYARD
• BALCONIES OFF BOTH BEDROOMS
• LARGE PRIMARY SUITE

Property features AI

Finance

• Other: Pets allowed (restrictions possible)
• HOA & community: Homeowners association (Village of Sandalwood Lakes HOA); Monthly HOA fee; HOA amenities include pool, tennis courts, basketball court, jogging path, and sidewalks; HOA fee covers cable TV, grounds maintenance, sewer, trash, water, common areas, and common real estate tax

Exterior

• Parking: Parking for 2 vehicles; No carport
• Utilities: Public water; Public sewer; Electricity connected (circuit breakers); Water connected
• Home design: Townhouse; Single-story; Resale property; Faces north
• Construction: CBS construction
• Exterior features: Waterfront location; Built-up roof; Metal roof

Interior

• Kitchen: Dishwasher; Electric range; Electric cooktop; Microwave; Refrigerator
• Bedrooms: No main-level bedrooms
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 2 full bathrooms and 1 half bathroom (3 total)
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Walk-in closets

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $240k.

Deal economics

• At list price, monthly cash flow is $-12 ($-147/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (0.9% below list).
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.2% 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: Egret Lake Elementary School (math 32% / reading 37%, grade F, #1,709 of 2,144 statewide, top 81%, 569 students, 80% FRL); Bear Lakes Middle School (math 19% / reading 33%, grade F, #506 of 571 statewide, top 89%, 842 students, 74% 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 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% 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 rising (+3.1%/yr); 306 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).

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 20 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 6 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 $175k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $236,400 (1.5% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
6. 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.
7. 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.
8. 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: 1.17% ✓
• Cap rate: 6.23%
• Cash-on-cash: -0.22%
• DSCR: 0.99
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $229,896
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6606 66th Way	0.47mi	2/2.5	1,236 (0%)	9mo	$230,000	$186	71

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.08% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.42×
• Total profit: $-39,055
• Equity at exit: $35,785

10-year hold

• IRR: -7.6%
• Equity multiple: 0.52×
• Total profit: $-32,505
• 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 33407

• Rents YoY: 3.1%
• Active inventory: 306
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,798 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$230 /mo · $2,760/yr
• Insurance: −$100
• HOA: −$634
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $-12

Break-even live

Break-even rent $2,813

Max offer price $237,840

Occupancy floor 95%

Sensitivity live

Price	-10% $124	-5% $56	+0% $-12	+5% $-80	+10% $-148
Rent	-10% $-233	-5% $-123	+0% $-12	+5% $98	+10% $209
Rate	-1.0pp $109	-0.5pp $49	base $-12	+0.5pp $-74	+1.0pp $-138

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 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2439 24th Way #2439 West Palm Beach, FL	2.0	2.5	1236	$3,000	$2.43	0d	1	0.28mi
3590 Village Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1074	$2,785	$2.59	1d	30	0.62mi
195 River Grove Way West Palm Beach, FL	3.0	1.0–2.0	958	$3,194	$3.33	0d	20	0.79mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$2,528	$2.07	19d	60	0.95mi
5911 Barbados Way E West Palm Beach, FL	3.0	2.0	1454	$2,900	$1.99	24d	1	1.01mi
5911 Barbados Way E West Palm Beach, FL	3.0	2.0	1454	$2,900	$1.99	26d	1	1.01mi
5649 Mentmore Dr Riviera Beach, FL	3.0	2.5	1450	$2,900	$2.00	26d	1	1.20mi
4385 Willow Brook Cir West Palm Beach, FL	3.0	2.0	1468	$3,200	$2.18	24d	1	1.26mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	26d	1	1.42mi
5662 Parke Ave West Palm Beach, FL	3.0	2.0	1176	$3,000	$2.55	6d	1	1.44mi

HOA detail

• Monthly dues: $634 · $7,608/yr
• Likely covers: waterpoolsecurity

Listing history 13 events

1. 2026-06-21
   days on market $240,000 Active 20 DOM
2. 2026-06-18
   days on market $240,000 Active 17 DOM
3. 2026-06-17
   days on market $240,000 Active 16 DOM
4. 2026-06-16
   days on market $240,000 Active 15 DOM
5. 2026-06-15
   days on market $240,000 Active 14 DOM
6. 2026-06-13
   days on market $240,000 Active 12 DOM
7. 2026-06-09
   days on market $240,000 Active 8 DOM
8. 2026-06-08
   days on market $240,000 Active 7 DOM
9. 2026-06-07
   days on market $240,000 Active 6 DOM
10. 2026-06-04
    days on market $240,000 Active 3 DOM
11. 2026-06-03
    days on market $240,000 Active 2 DOM
12. 2026-06-02
    remarks 401-char remark
13. 2026-06-02
    listed $240,000 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: $2,760 · $230/mo
• Projected year-2 tax: $2,760 · $230/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 2/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥106°F today · 21 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: $33,575
• − Mortgage interest: −$13,444
• − Property taxes: −$2,760
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,686
• − Management: −$2,686
• − HOA: −$7,608
• − Depreciation: −$6,982
• Taxable loss: −$3,790
• Est. tax savings @ 24.0%: +$910
• After-tax cash flow: $763/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): 34,851
• Household income: $59,993
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 2157.0

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 0.62)
• Race & ethnicity: Black 54% White 21% Hispanic / Latino 20% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 2%
• Common ancestry: Hispanic 8% Lithuanian 1% Romanian 1%
• Foreign-born: 26% · Canada, Vietnam, Jamaica
• Languages at home: 72% English-only · Spanish 17% French/Haitian/Cajun 8% Other Indo-European 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: ▼ -299.26%
• Current HPI: 363.3995
• Rent YoY: ▲ 3.08%
• 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

+293.4% since first listed

24 events — show timeline

• 2026-06-01 Listed $240,000 Beaches MLS
• 2019-03-19 Sold (Public Records) $175,000 Public Records
• 2019-03-18 Sold (MLS) $175,000 Beaches MLS
• 2019-02-14 Contingent — Beaches MLS
• 2019-02-08 Price Changed $179,000 Beaches MLS
• 2019-01-30 Price Changed $187,900 Beaches MLS
• 2019-01-17 Listed $195,000 Beaches MLS
• 2015-08-25 Sold (Public Records) $138,000 Public Records
• 2015-08-21 Sold (MLS) $138,000 Beaches MLS
• 2015-07-31 Contingent — Beaches MLS
• 2015-07-27 Listed $138,700 Beaches MLS
• 2011-02-08 Sold (Public Records) $92,500 Public Records
• 2011-02-04 Sold (MLS) $92,500 Beaches MLS
• 2011-01-17 Listing Removed — Beaches MLS
• 2010-09-07 Listed $96,800 Beaches MLS
• 2010-06-18 Sold (MLS) $54,500 Beaches MLS
• 2010-02-19 Listing Removed — Beaches MLS
• 2010-02-10 Listed $54,900 Beaches MLS
• 2008-09-20 Listing Removed — Beaches MLS
• 2008-02-20 Listed $119,900 Beaches MLS
• 1998-02-17 Sold (Public Records) $61,000 Public Records
• 1994-06-06 Sold (Public Records) $49,500 Public Records
• 1994-06-03 Sold (Public Records) $50,000 Public Records
• 1988-04-27 Sold (Public Records) $61,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $2,760 · +4.0% YoY. Source: county tax records.