197 Charter Way · West Palm Beach, FL 33407

$224,900

2 bd · 2.5 ba · 1,236 sqft · Townhouse public records · 69 Days on market

Built 1984 1,346 sqft lot Est $230k · at est. $638/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 +9.6/30.0
• ARV discount +8.5/15.0
• 1% rule +7.1/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.3/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

EXCEPTIONAL TOWNHOUSE! SPANISH TILE & LAMINATE FLOORING, VERY CLEAN! GREAT BUY! JUST MOVE IN! SHOWS EXCEPTIONALLY WELL! SPANISH TILE FLOORING DOWNSTAIRS, LAMINATE FLOORING ON STAIRS AND UPSTAIRS, THE COMMUNITY HAS IT ALL WITH OLYMPIC SIZE POOL, SPA, CLUBHOUSE, KIDDIE PARK, RACQUETBALL COURTS, BASKETBALL, VOLLEYBALL AND TENNIS COURTS! GREAT LOCATION! CLOSE TO EVERYTHING!

Key facts

• Children playground
• Swimming pool area
• Tennis courts

Tags

• CERAMIC COUNTERTOP KITCHEN
• SWIMMING POOL AREA
• TENNIS COURTS
• CLUB HOUSE
• CHILDREN PLAYGROUND

Property features AI

Finance

• Other: Pets allowed (cats and dogs okay)
• HOA & community: Monthly HOA fee; Association amenities include clubhouse, pool, spa/hot tub, tennis courts, pickleball courts, basketball court, playground, park, picnic area, recreation facilities, parking; HOA fee covers cable TV, insurance, grounds maintenance, pest control, sewer, trash, water, common areas, roof repairs, recreation facility and pool service

Exterior

• Parking: Two open parking spaces (total 2 parking spots)
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Phone connected; Water available; Sewer available
• Home design: Townhouse; Two stories; North-facing
• Construction: Block construction; Other-type roof; Built as resale property
• Exterior features: Not waterfront

Interior

• Kitchen: Electric range; Electric cooktop; Microwave; Dishwasher; Disposal; Refrigerator; Freezer; Electric water heater
• Bedrooms: No main-level bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms and 1 half bathroom (3 total); One bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $225k.

Deal economics

• At list price, monthly cash flow is $-152 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (11.9% below list).
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $198k (11.9% below list) — sets the bar for cash-flow.
• Cap rate 5.5% 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; 9 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 69 days — a 6% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 28y 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 $80k; list at $225k implies a 181% gain — meaningful room to come down on a strong offer.

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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $198,125 (11.9% 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 69 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.21% ✓
• Cap rate: 5.48%
• Cash-on-cash: -2.89%
• DSCR: 0.87
• GRM: 6.9

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	0.32mi	2/2.5	1,236 (0%)	9mo	$230,000	$186	78

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: -20.7%
• Equity multiple: 0.28×
• Total profit: $-45,378
• Equity at exit: $33,533

10-year hold

• IRR: -13.1%
• Equity multiple: 0.22×
• Total profit: $-49,015
• Equity at exit: $19,445

Cash invested: $62,972 (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: 6.9×

Monthly cashflow live

• Estimated rent: $2,720 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$389 /mo · $4,669/yr
• Insurance: −$94
• HOA: −$638
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $-152

Break-even live

Break-even rent $2,912

Max offer price $198,125

Occupancy floor —

Sensitivity live

Price	-10% $-24	-5% $-88	+0% $-152	+5% $-215	+10% $-279
Rent	-10% $-366	-5% $-259	+0% $-152	+5% $-44	+10% $63
Rate	-1.0pp $-38	-0.5pp $-94	base $-152	+0.5pp $-210	+1.0pp $-269

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3590 Village Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1074	$2,785	$2.59	1d	30	0.37mi
2439 24th Way #2439 West Palm Beach, FL	2.0	2.5	1236	$3,000	$2.43	0d	1	0.39mi
195 River Grove Way West Palm Beach, FL	3.0	1.0–2.0	958	$3,194	$3.33	0d	20	0.54mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$2,528	$2.07	19d	60	1.00mi
5649 Mentmore Dr Riviera Beach, FL	3.0	2.5	1450	$2,900	$2.00	26d	1	1.00mi
5911 Barbados Way E West Palm Beach, FL	3.0	2.0	1454	$2,900	$1.99	24d	1	1.25mi
5911 Barbados Way E West Palm Beach, FL	3.0	2.0	1454	$2,900	$1.99	26d	1	1.25mi
4385 Willow Brook Cir West Palm Beach, FL	3.0	2.0	1468	$3,200	$2.18	24d	1	1.36mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	26d	1	1.41mi

HOA detail

• Monthly dues: $638 · $7,656/yr
• Likely covers: pool

Listing history 31 events

1. 2026-06-21
   days on market $224,900 Active 69 DOM
2. 2026-06-18
   days on market $224,900 Active 66 DOM
3. 2026-06-17
   days on market $224,900 Active 65 DOM
4. 2026-06-16
   days on market $224,900 Active 64 DOM
5. 2026-06-15
   days on market $224,900 Active 63 DOM
6. 2026-06-13
   days on market $224,900 Active 61 DOM
7. 2026-06-09
   days on market $224,900 Active 57 DOM
8. 2026-06-08
   days on market $224,900 Active 56 DOM
9. 2026-06-07
   days on market $224,900 Active 55 DOM
10. 2026-06-04
    days on market $224,900 Active 52 DOM
11. 2026-06-03
    days on market $224,900 Active 51 DOM
12. 2026-06-02
    days on market $224,900 Active 50 DOM
13. 2026-06-01
    days on market $224,900 Active 49 DOM
14. 2026-05-31
    days on market $224,900 Active 48 DOM
15. 2026-05-07
    historical $2,049
16. 2026-04-10
    listed $224,900 Active
17. 2026-03-29
    listed $2,049
18. 2012-09-11
    soldstatus $80,000
19. 2012-08-28
    soldstatus $80,000 378-char remark

    Show marketing remark (378 chars)

    EXCEPTIONAL TOWNHOUSE! SPANISH TILE & LAMINATE FLOORING, VERY CLEAN! GREAT BUY! JUST MOVE IN! SHOWS EXCEPTIONALLY WELL! SPANISH TILE FLOORING DOWNSTAIRS, LAMINATE FLOORING ON STAIRS AND UPSTAIRS, THE COMMUNITY HAS IT ALL WITH OLYMPIC SIZE POOL, SPA, CLUBHOUSE, KIDDIE PARK, RACQUETBALL COURTS, BASKETBALL, VOLLEYBALL AND TENNIS COURTS! GREAT LOCATION! CLOSE TO EVERYTHING!

20. 2012-03-29
    listed $84,500 378-char remark

    Show marketing remark (378 chars)

    EXCEPTIONAL TOWNHOUSE! SPANISH TILE & LAMINATE FLOORING, VERY CLEAN! GREAT BUY! JUST MOVE IN! SHOWS EXCEPTIONALLY WELL! SPANISH TILE FLOORING DOWNSTAIRS, LAMINATE FLOORING ON STAIRS AND UPSTAIRS, THE COMMUNITY HAS IT ALL WITH OLYMPIC SIZE POOL, SPA, CLUBHOUSE, KIDDIE PARK, RACQUETBALL COURTS, BASKETBALL, VOLLEYBALL AND TENNIS COURTS! GREAT LOCATION! CLOSE TO EVERYTHING!

21. 2005-01-20
    soldstatus $168,000
22. 2000-06-01
    soldstatus $71,200
23. 2000-05-26
    soldstatus $71,200 157-char remark

    Show marketing remark (157 chars)

    MODEL CONDITION, CORNER UNIT, EAT-IN KITCHEN WITH NEW RANGE, MICROWAVE, NEW SINK, FRESHLY PAINTED, CARPET & TILE, SECURITY SYSTEM, PATIO, GREAT LOCATION!

24. 2000-04-28
    historical 157-char remark

    Show marketing remark (157 chars)

    MODEL CONDITION, CORNER UNIT, EAT-IN KITCHEN WITH NEW RANGE, MICROWAVE, NEW SINK, FRESHLY PAINTED, CARPET & TILE, SECURITY SYSTEM, PATIO, GREAT LOCATION!

25. 2000-04-04
    listed $72,900 157-char remark

    Show marketing remark (157 chars)

    MODEL CONDITION, CORNER UNIT, EAT-IN KITCHEN WITH NEW RANGE, MICROWAVE, NEW SINK, FRESHLY PAINTED, CARPET & TILE, SECURITY SYSTEM, PATIO, GREAT LOCATION!

26. 1998-09-10
    soldstatus $63,000
27. 1998-09-09
    soldstatus $63,000
28. 1998-08-14
    historical
29. 1998-07-30
    listed $63,900
30. 1996-10-25
    soldstatus $48,400
31. 1990-12-14
    soldstatus $56,000

ⓘ 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: $4,669 · $389/mo
• Projected year-2 tax: $4,669 · $389/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 6 d/yr ≥105°F today · 19 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: $32,638
• − Mortgage interest: −$12,598
• − Property taxes: −$4,669
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,611
• − Management: −$2,611
• − HOA: −$7,656
• − Depreciation: −$6,543
• Taxable loss: −$5,175
• Est. tax savings @ 24.0%: +$1,242
• After-tax cash flow: $-577/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

-96.3% since first listed

17 events — show timeline

• 2026-05-07 Rental Removed $2,049 RENTALBEAST
• 2026-04-10 Listed $224,900 Beaches MLS
• 2026-03-29 Listed for Rent $2,049 RENTALBEAST
• 2012-09-11 Sold (Public Records) $80,000 Public Records
• 2012-08-28 Sold (MLS) $80,000 Beaches MLS
• 2012-03-29 Listed $84,500 Beaches MLS
• 2005-01-20 Sold (Public Records) $168,000 Public Records
• 2000-06-01 Sold (Public Records) $71,200 Public Records
• 2000-05-26 Sold (MLS) $71,200 Beaches MLS
• 2000-04-28 Listing Removed — Beaches MLS
• 2000-04-04 Listed $72,900 Beaches MLS
• 1998-09-10 Sold (Public Records) $63,000 Public Records
• 1998-09-09 Sold (MLS) $63,000 Beaches MLS
• 1998-08-14 Listing Removed — Beaches MLS
• 1998-07-30 Listed $63,900 Beaches MLS
• 1996-10-25 Sold (Public Records) $48,400 Public Records
• 1990-12-14 Sold (Public Records) $56,000 Public Records

Property tax history

+12.6%/yr

Latest (2025): $4,669 · +4.8% YoY. Source: county tax records.