615 N Sapodilla Ave · West Palm Beach, FL 33401

$239,500

2 bd · 1.0 ba · 722 sqft · SingleFamily public records · 97 Days on market

Built 1925 1,307 sqft lot

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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

Charming 2/1 single-family home situated in the heart of West Palm Beach. New development, including retail and office space nearby. Would make a great rental property, ready to move in so cash flow on day one! Or the perfect home to be loved for years to come. Fresh paint and flooring inside. New trim, updated kitchen and bathroom. This one won't last long submit your offers today! Listing agent is related to one of the signors of the owning LLC.

Key facts

• Near brightline
• Near beaches
• Excellent location

Tags

• ROOF LESS THAN 1 YEAR OLD
• NEAR BRIGHTLINE
• NEAR BEACHES
• EXCELLENT LOCATION

Property features AI

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer; Electricity available
• Home design: Single family residence; One story; Faces east; Resale condition
• Construction: Built with stucco; Shingle roof
• Exterior features: Not waterfront

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms (main level)
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall/window unit(s) for cooling
• Interior features: Entrance foyer; Walk-in closet(s)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $240k).
• Recommended offer: $218k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.4% 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; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $4,433/mo this rent would consume 78% 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 $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.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $67k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $217,945 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.85% ✓
• Cap rate: 15.38%
• Cash-on-cash: 32.46%
• DSCR: 2.44
• GRM: 4.5

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: 30.0%
• Equity multiple: 2.29×
• Total profit: $86,593
• Equity at exit: $35,710

10-year hold

• IRR: 38.5%
• Equity multiple: 4.97×
• Total profit: $266,515
• Equity at exit: $20,708

Cash invested: $67,060 (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: 4.5×

Monthly cashflow live

• Estimated rent: $4,433 high
• Mortgage (P&I): −$1,256
• Tax from tax record: −$333 /mo · $3,995/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$931
• Net cashflow: $1,814

Break-even live

Break-even rent $2,138

Max offer price $239,500

Occupancy floor 54%

Sensitivity live

Price	-10% $1,949	-5% $1,882	+0% $1,814	+5% $1,746	+10% $1,678
Rent	-10% $1,464	-5% $1,639	+0% $1,814	+5% $1,989	+10% $2,164
Rate	-1.0pp $1,934	-0.5pp $1,875	base $1,814	+0.5pp $1,752	+1.0pp $1,689

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: $59,875
• Closing costs: $7,185
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
740 N Dixie Hwy West Palm Beach, FL	1.0	1.0	679	$3,187	$4.69	0d	6	0.37mi
805 N Olive Ave West Palm Beach, FL	1.0–2.0	1.0–2.0	852	$3,704	$4.35	0d	15	0.40mi
345 Banyan Blvd West Palm Beach, FL	3.0	1.0–2.0	1023	$5,437	$5.31	2d	19	0.49mi
591 Evernia St West Palm Beach, FL	2.0	1.0–2.0	943	$6,321	$6.70	0d	22	0.51mi
290 N Olive Ave West Palm Beach, FL	2.0	1.0–2.0	870	$4,834	$5.55	0d	19	0.55mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	727	$4,653	$6.40	25d	19	0.57mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	731	$6,632	$9.07	12d	16	0.57mi
499 Evernia St West Palm Beach, FL	2.0	1.0–2.0	827	$4,114	$4.97	0d	26	0.60mi
333 Fern St West Palm Beach, FL	2.0	1.0–2.0	1121	$5,748	$5.13	0d	1	0.68mi
1710 N Congress Ave West Palm Beach, FL	1.0–3.0	1.0–2.0	1210	$3,120	$2.58	25d	4	0.69mi
255 Evernia St #1421 West Palm Beach, FL	1.0	1.0	666	$3,000	$4.50	12d	1	0.70mi
480 Hibiscus St West Palm Beach, FL	1.0–2.0	1.5–2.0	885	$4,850	$5.48	25d	3	0.81mi
480 Hibiscus St West Palm Beach, FL	1.0–2.0	1.0–2.0	867	$4,850	$5.59	4d	4	0.81mi
651 Okeechobee Blvd West Palm Beach, FL	1.0–2.0	1.0–2.5	887	$5,000	$5.63	15d	5	0.86mi
1801 N Flagler Dr West Palm Beach, FL	1.0–2.0	1.0–2.0	1125	$4,500	$4.00	3d	7	0.87mi
1801 N Flagler Dr West Palm Beach, FL	1.0–2.0	1.0–2.0	998	$4,250	$4.26	19d	4	0.87mi
1801 N Flagler Dr West Palm Beach, FL	1.0–2.0	1.0–2.0	998	$4,250	$4.26	25d	3	0.87mi
44 Cocoanut Row Unit 610A Palm Beach, FL	1.0	1.0	540	$11,000	$20.37	25d	1	1.02mi
2585 Spruce Ave West Palm Beach, FL	1.0–2.0	1.0–2.0	841	$3,225	$3.83	0d	116	1.19mi
251 Oleander Ave #1 Palm Beach, FL	1.0	1.5	664	$4,250	$6.40	4d	1	1.20mi
251 Oleander Ave #1 Palm Beach, FL	1.0	1.5	664	$4,250	$6.40	25d	1	1.20mi
235 Sunrise Ave Palm Beach, FL	2.0	1.0–2.0	835	$8,500	$10.17	9d	5	1.22mi
235 Sunrise Ave Palm Beach, FL	2.0	1.0–2.0	835	$8,500	$10.17	23d	4	1.22mi
235 Sunrise Ave Palm Beach, FL	1.0–2.0	1.0–2.0	980	$8,500	$8.67	25d	3	1.22mi

Listing history 33 events

1. 2026-06-21
   days on market $239,500 Active 97 DOM
2. 2026-06-18
   days on market $239,500 Active 94 DOM
3. 2026-06-17
   days on market $239,500 Active 93 DOM
4. 2026-06-16
   days on market $239,500 Active 92 DOM
5. 2026-06-15
   days on market $239,500 Active 91 DOM
6. 2026-06-13
   days on market $239,500 Active 89 DOM
7. 2026-06-09
   days on market $239,500 Active 85 DOM
8. 2026-06-08
   days on market $239,500 Active 84 DOM
9. 2026-06-07
   days on market $239,500 Active 83 DOM
10. 2026-06-04
    days on market $239,500 Active 80 DOM
11. 2026-06-03
    days on market $239,500 Active 79 DOM
12. 2026-06-02
    days on market $239,500 Active 78 DOM
13. 2026-06-01
    days on market $239,500 Active 77 DOM
14. 2026-05-31
    days on market $239,500 Active 76 DOM
15. 2026-04-27
    price $239,500
16. 2026-03-24
    price $249,000
17. 2026-03-13
    listed $264,900 Active
18. 2025-01-09
    soldstatus $240,000
19. 2025-01-03
    soldstatus $240,000 Closed 451-char remark

    Show marketing remark (451 chars)

    Charming 2/1 single-family home situated in the heart of West Palm Beach. New development, including retail and office space nearby. Would make a great rental property, ready to move in so cash flow on day one! Or the perfect home to be loved for years to come. Fresh paint and flooring inside. New trim, updated kitchen and bathroom. This one won't last long submit your offers today! Listing agent is related to one of the signors of the owning LLC.

20. 2024-12-11
    historical Active Under Contract 451-char remark

    Show marketing remark (451 chars)

    Charming 2/1 single-family home situated in the heart of West Palm Beach. New development, including retail and office space nearby. Would make a great rental property, ready to move in so cash flow on day one! Or the perfect home to be loved for years to come. Fresh paint and flooring inside. New trim, updated kitchen and bathroom. This one won't last long submit your offers today! Listing agent is related to one of the signors of the owning LLC.

21. 2024-11-25
    price $229,000 451-char remark

    Show marketing remark (451 chars)

    Charming 2/1 single-family home situated in the heart of West Palm Beach. New development, including retail and office space nearby. Would make a great rental property, ready to move in so cash flow on day one! Or the perfect home to be loved for years to come. Fresh paint and flooring inside. New trim, updated kitchen and bathroom. This one won't last long submit your offers today! Listing agent is related to one of the signors of the owning LLC.

22. 2024-11-07
    listed $249,995 Active 451-char remark

    Show marketing remark (451 chars)

    Charming 2/1 single-family home situated in the heart of West Palm Beach. New development, including retail and office space nearby. Would make a great rental property, ready to move in so cash flow on day one! Or the perfect home to be loved for years to come. Fresh paint and flooring inside. New trim, updated kitchen and bathroom. This one won't last long submit your offers today! Listing agent is related to one of the signors of the owning LLC.

23. 2020-03-09
    historical
24. 2019-03-22
    historical Active Under Contract
25. 2018-05-01
    listed $109,000 Active
26. 2018-03-17
    historical
27. 2018-03-12
    status Active
28. 2018-02-08
    status Pending
29. 2017-11-20
    price $99,000
30. 2017-11-07
    status Active
31. 2017-10-08
    status Pending
32. 2017-09-18
    listed $127,000 Active
33. 1987-11-01
    soldstatus $12,500

ⓘ 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: $3,995 · $333/mo
• Projected year-2 tax: $3,995 · $333/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 10/10 Extreme 7 d/yr ≥105°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,202
• − Mortgage interest: −$13,416
• − Property taxes: −$3,995
• − Insurance: −$1,198
• − Repairs & maintenance: −$4,256
• − Management: −$4,256
• − Depreciation: −$6,967
• Taxable income: $19,114
• Est. tax owed @ 24.0%: −$4,587
• After-tax cash flow: $17,178/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

+1816.0% since first listed

19 events — show timeline

• 2026-04-27 Price Changed $239,500 Beaches MLS
• 2026-03-24 Price Changed $249,000 Beaches MLS
• 2026-03-13 Listed $264,900 Beaches MLS
• 2025-01-09 Sold (Public Records) $240,000 Public Records
• 2025-01-03 Sold (MLS) $240,000 Beaches MLS
• 2024-12-11 Contingent — Beaches MLS
• 2024-11-25 Price Changed $229,000 Beaches MLS
• 2024-11-07 Listed $249,995 Beaches MLS
• 2020-03-09 Listing Removed — Beaches MLS
• 2019-03-22 Contingent — Beaches MLS
• 2018-05-01 Listed $109,000 Beaches MLS
• 2018-03-17 Listing Removed — Beaches MLS
• 2018-03-12 Relisted — Beaches MLS
• 2018-02-08 Pending — Beaches MLS
• 2017-11-20 Price Changed $99,000 Beaches MLS
• 2017-11-07 Relisted — Beaches MLS
• 2017-10-08 Pending — Beaches MLS
• 2017-09-18 Listed $127,000 Beaches MLS
• 1987-11-01 Sold (Public Records) $12,500 Public Records

Property tax history

+12.8%/yr

Latest (2025): $3,995 · +126.0% YoY. Source: county tax records.