2461 Village Blvd #102 · West Palm Beach, FL 33409

$199,000

2 bd · 2.0 ba · 1,442 sqft · Condo public records · 126 Days on market

Built 1987 $870/mo HOA · 24% of rent

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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 +26.7/30.0
• 1% rule +10.0/10.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * REDUCED * * * LOWEST PRICE IN THE COMMUNITY * * * Great ground floor unit with beautiful views of the clubhouse, pool area and golf course - upgraded kitchen with granite counters. New Washer & Dryer. GREAT location next to everything West Palm Beach has to offer; minutes to Palm Beach International Airport, minutes to Outlet Shops, short ride to Gardens Mall or Boca Town Center, minutes to Palm Beach Island shops, restaurants and culture, minutes to Clematis and City Place shopping, restaurants and nightlife. .. FINANCE BUYERS MUST PUT DOWN A MIN OF 25%. Submit Offers Quickly - Won't last SHOW and SELL TODAY!!!

Key facts

• Spacious great room
• First floor unit
• Walk in closet

Tags

• FIRST FLOOR UNIT
• BEAUTIFUL COURTYARD VIEWS
• SPACIOUS GREAT ROOM
• WALK IN CLOSET
• 4 CLUBHOUSES

Property features AI

Finance

• Other: Pets not allowed; Community contains 480 units
• Financial info: Association fee paid monthly
• HOA & community: Has association; Monthly HOA (includes cable TV, insurance, grounds maintenance, pest control, sewer, trash, water); Community clubhouse; Fitness center; Pool; Game room; Community room; On-site manager; Management; Sidewalks; Street lights

Exterior

• Parking: Deeded parking; Guest parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Water available; Sewer available
• Home design: Condominium; Resale property; 4-story building; Facing east
• Construction: CBS construction; Barrel roof
• Exterior features: Open patio; Patio

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Disposal
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile; Linoleum
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Entrance foyer; Walk-in closet(s); Sliding windows
• Laundry & utility: Laundry closet with washer hookup (inside); Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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.
• Market conditions: Rents soft (-0.1%/yr); 189 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $3,607/mo this rent would consume 65% of the median local household income ($67k/yr) (locally 1333% 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 $1k of loan paydown is wiped out by about $6k 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 126 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $11k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $93k; list at $199k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• 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 $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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. 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.
8. 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.
9. 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: 1.81% ✓
• Cap rate: 9.55%
• Cash-on-cash: 11.63%
• DSCR: 1.52
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -3.9%
• Equity multiple: 0.86×
• Total profit: $-7,796
• Equity at exit: $29,672

10-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-799
• Equity at exit: $17,206

Cash invested: $55,720 (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 33409

• Home prices YoY: -25.6%
• Rents YoY: -0.1%
• Active inventory: 189
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $3,607 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$313 /mo · $3,754/yr
• Insurance: −$83
• HOA: −$870
• Vacancy / Maint / Mgmt: −$757
• Net cashflow: $540

Break-even live

Break-even rent $2,923

Max offer price $199,000

Occupancy floor 80%

Sensitivity live

Price	-10% $653	-5% $596	+0% $540	+5% $484	+10% $427
Rent	-10% $255	-5% $398	+0% $540	+5% $682	+10% $825
Rate	-1.0pp $640	-0.5pp $591	base $540	+0.5pp $488	+1.0pp $436

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2480 Presidential Way #1903 West Palm Beach, FL	2.0	2.0	1855	$4,650	$2.51	25d	1	0.27mi
2480 Presidential Way #902 West Palm Beach, FL	2.0	2.0	1855	$4,650	$2.51	6d	1	0.27mi
2450 Presidential Way #7 West Palm Beach, FL	2.0	2.0	1855	$4,700	$2.53	25d	1	0.31mi
2450 Presidential Way #7 West Palm Beach, FL	2.0	2.0	1855	$4,700	$2.53	3d	1	0.31mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	25d	1	0.40mi
2400 Presidential Way #1906 West Palm Beach, FL	1.0	2.0	1294	$3,000	$2.32	25d	1	0.43mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	16d	1	0.50mi
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	25d	1	0.54mi
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	25d	1	0.64mi
1900 Consulate Pl #1005 West Palm Beach, FL	2.0	2.0	1557	$4,900	$3.15	15d	1	0.71mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	25d	1	0.86mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$2,528	$2.07	18d	60	1.05mi
4567 Brook Dr West Palm Beach, FL	3.0	2.0	1528	$3,000	$1.96	25d	1	1.18mi
1211 Pine Sage Cir West Palm Beach, FL	3.0	2.0	1367	$3,200	$2.34	6d	1	1.19mi
3590 Village Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1074	$2,785	$2.59	0d	30	1.28mi
4385 Willow Brook Cir West Palm Beach, FL	3.0	2.0	1468	$3,200	$2.18	22d	1	1.34mi
195 River Grove Way West Palm Beach, FL	3.0	1.0–2.0	958	$3,192	$3.33	0d	18	1.39mi
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$2,705	$2.53	20d	19	1.40mi

HOA detail condo

• Monthly dues: $870 · $10,440/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $199,000 Active 126 DOM
2. 2026-06-17
   days on market $199,000 Active 125 DOM
3. 2026-06-16
   days on market $199,000 Active 124 DOM
4. 2026-06-15
   days on market $199,000 Active 123 DOM
5. 2026-06-13
   days on market $199,000 Active 121 DOM
6. 2026-06-09
   days on market $199,000 Active 117 DOM
7. 2026-06-07
   days on market $199,000 Active 115 DOM
8. 2026-06-04
   days on market $199,000 Active 112 DOM
9. 2026-06-03
   days on market $199,000 Active 111 DOM
10. 2026-06-01
    days on market $199,000 Active 109 DOM
11. 2026-05-31
    days on market $199,000 Active 108 DOM
12. 2026-04-11
    price $199,000
13. 2026-02-12
    listed $210,000 Active
14. 2017-06-30
    soldstatus $93,000
15. 2017-06-29
    soldstatus $93,000 Closed 642-char remark

    Show marketing remark (642 chars)

    * * * REDUCED * * * LOWEST PRICE IN THE COMMUNITY * * * Great ground floor unit with beautiful views of the clubhouse, pool area and golf course - upgraded kitchen with granite counters. New Washer & Dryer. GREAT location next to everything West Palm Beach has to offer; minutes to Palm Beach International Airport, minutes to Outlet Shops, short ride to Gardens Mall or Boca Town Center, minutes to Palm Beach Island shops, restaurants and culture, minutes to Clematis and City Place shopping, restaurants and nightlife. .. FINANCE BUYERS MUST PUT DOWN A MIN OF 25%. Submit Offers Quickly - Won't last SHOW and SELL TODAY!!!

16. 2017-06-11
    historical Contingent 642-char remark

    Show marketing remark (642 chars)

    * * * REDUCED * * * LOWEST PRICE IN THE COMMUNITY * * * Great ground floor unit with beautiful views of the clubhouse, pool area and golf course - upgraded kitchen with granite counters. New Washer & Dryer. GREAT location next to everything West Palm Beach has to offer; minutes to Palm Beach International Airport, minutes to Outlet Shops, short ride to Gardens Mall or Boca Town Center, minutes to Palm Beach Island shops, restaurants and culture, minutes to Clematis and City Place shopping, restaurants and nightlife. .. FINANCE BUYERS MUST PUT DOWN A MIN OF 25%. Submit Offers Quickly - Won't last SHOW and SELL TODAY!!!

17. 2017-06-01
    listed $102,900 Active 642-char remark

    Show marketing remark (642 chars)

    * * * REDUCED * * * LOWEST PRICE IN THE COMMUNITY * * * Great ground floor unit with beautiful views of the clubhouse, pool area and golf course - upgraded kitchen with granite counters. New Washer & Dryer. GREAT location next to everything West Palm Beach has to offer; minutes to Palm Beach International Airport, minutes to Outlet Shops, short ride to Gardens Mall or Boca Town Center, minutes to Palm Beach Island shops, restaurants and culture, minutes to Clematis and City Place shopping, restaurants and nightlife. .. FINANCE BUYERS MUST PUT DOWN A MIN OF 25%. Submit Offers Quickly - Won't last SHOW and SELL TODAY!!!

18. 2017-06-01
    historical

    Show marketing remark (642 chars)

    * * * REDUCED * * * LOWEST PRICE IN THE COMMUNITY * * * Great ground floor unit with beautiful views of the clubhouse, pool area and golf course - upgraded kitchen with granite counters. New Washer & Dryer. GREAT location next to everything West Palm Beach has to offer; minutes to Palm Beach International Airport, minutes to Outlet Shops, short ride to Gardens Mall or Boca Town Center, minutes to Palm Beach Island shops, restaurants and culture, minutes to Clematis and City Place shopping, restaurants and nightlife. .. FINANCE BUYERS MUST PUT DOWN A MIN OF 25%. Submit Offers Quickly - Won't last SHOW and SELL TODAY!!!

19. 2017-04-28
    price $102,900
20. 2017-02-17
    listed $114,900 Active
21. 2017-01-11
    historical Contingent
22. 2017-01-10
    historical
23. 2016-11-24
    listed $114,900 Active
24. 1991-06-06
    soldstatus $62,000
25. 1987-07-06
    soldstatus $66,900

ⓘ 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: $3,754 · $313/mo
• Projected year-2 tax: $3,754 · $313/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 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: $43,281
• − Mortgage interest: −$11,147
• − Property taxes: −$3,754
• − Insurance: −$995
• − Repairs & maintenance: −$3,462
• − Management: −$3,462
• − HOA: −$10,440
• − Depreciation: −$5,789
• Taxable income: $4,231
• Est. tax owed @ 24.0%: −$1,015
• After-tax cash flow: $5,464/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): 33,489
• Household income: $67,073
• Rent vs Own: 55.3% rent · 44.7% own
• Severe rent burden: 1333.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 36% Black 31% White 27% Two or more races 21% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 8% Dominican 1%
• Common ancestry: Hispanic 8% Romanian 1% Lithuanian 1%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 55% English-only · Spanish 30% French/Haitian/Cajun 10% Other Indo-European 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: ▼ -128.54%
• Current HPI: 374.2506
• Rent YoY: ▼ -0.15%
• 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

+197.5% since first listed

14 events — show timeline

• 2026-04-11 Price Changed $199,000 Beaches MLS
• 2026-02-12 Listed $210,000 Beaches MLS
• 2017-06-30 Sold (Public Records) $93,000 Public Records
• 2017-06-29 Sold (MLS) $93,000 Beaches MLS
• 2017-06-11 Contingent — Beaches MLS
• 2017-06-01 Listed $102,900 Beaches MLS
• 2017-06-01 Listing Removed — Beaches MLS
• 2017-04-28 Price Changed $102,900 Beaches MLS
• 2017-02-17 Listed $114,900 Beaches MLS
• 2017-01-11 Contingent — Beaches MLS
• 2017-01-10 Listing Removed — Beaches MLS
• 2016-11-24 Listed $114,900 Beaches MLS
• 1991-06-06 Sold (Public Records) $62,000 Public Records
• 1987-07-06 Sold (Public Records) $66,900 Public Records

Property tax history

+11.5%/yr

Latest (2025): $3,754 · +3.0% YoY. Source: county tax records.