1500 Presidential Way #504 · West Palm Beach, FL 33401

$215,000

2 bd · 2.0 ba · 1,194 sqft · Condo public records · 139 Days on market

Built 1972 $880/mo HOA · 27% of rent

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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 +22.1/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 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

Bright and open 2 bedroom with 2 bath corner unit with large windows and recently updated kitchen and all in a great location. The stainless kitchen appliances and white cabinets compliment the darker counter top. This unit has a large pantry. Renovated baths. Great balcony off the living area and primary bedroom. One small pet permitted. Close to the Outlet Mall, Whole Foods, I-95, Airport, downtown entertainment and beach.

Key facts

• Spacious balcony
• A/c system installed
• Ceiling fans

Tags

• PANORAMIC VIEWS
• SPACIOUS BALCONY
• CEILING FANS
• LARGE ADDITIONAL CLOSET
• A/C SYSTEM INSTALLED
• ELEGANT WINDOW TREATMENTS

Property features AI

Finance

• Financial info: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee of $815; HOA covers common areas, hot water, insurance, laundry, grounds maintenance, structure maintenance, parking, pest control, trash and water; Building has elevators

Exterior

• Parking: Open parking with two or more spaces
• Security: Closed-circuit cameras; Fire alarm; Phone entry; Fire sprinkler system
• Home design: 8-story building; Unit entry on level 5; Attached property
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony/porch

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Furnished; Elevator

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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.
• Market conditions: Rents rising fast (+5.2%/yr); 506 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $3,281/mo this rent would consume 58% 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 $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.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $60k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 25y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $173k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 1.53% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.93%
• DSCR: 1.31
• GRM: 5.5

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: -2.1%
• Equity multiple: 0.92×
• Total profit: $-4,920
• Equity at exit: $32,057

10-year hold

• IRR: 10.7%
• Equity multiple: 1.95×
• Total profit: $57,427
• Equity at exit: $18,589

Cash invested: $60,200 (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 33401

• Rents YoY: 5.2%
• Active inventory: 506
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $3,281 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$147 /mo · $1,768/yr
• Insurance: −$90
• HOA: −$880
• Vacancy / Maint / Mgmt: −$689
• Net cashflow: $348

Break-even live

Break-even rent $2,841

Max offer price $215,000

Occupancy floor 84%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	24d	1	0.13mi
1991 Presidential Way West Palm Beach, FL	1.0	1.0	827	$3,427	$4.14	8d	1	0.35mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	16d	1	0.35mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	24d	1	0.41mi
2400 Presidential Way #1906 West Palm Beach, FL	1.0	2.0	1294	$3,000	$2.32	24d	1	0.45mi
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	24d	1	0.59mi
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$2,705	$2.53	20d	19	0.81mi
1319 13th St West Palm Beach, FL	3.0	2.0	1215	$3,200	$2.63	24d	1	0.96mi
1104 State St Unit C West Palm Beach, FL	3.0	1.0	875	$3,000	$3.43	24d	1	1.25mi
823 14th St West Palm Beach, FL	3.0	1.0	1000	$3,495	$3.50	24d	1	1.42mi
921 8th St West Palm Beach, FL	3.0	1.0	1000	$3,395	$3.40	24d	1	1.42mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	24d	1	1.49mi

HOA detail condo

• Monthly dues: $880 · $10,560/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-18
   days on market $215,000 Active 139 DOM
2. 2026-06-17
   days on market $215,000 Active 138 DOM
3. 2026-06-16
   days on market $215,000 Active 137 DOM
4. 2026-06-15
   days on market $215,000 Active 136 DOM
5. 2026-06-13
   days on market $215,000 Active 134 DOM
6. 2026-06-09
   days on market $215,000 Active 130 DOM
7. 2026-06-07
   pricedays on market $215,000 Active 128 DOM
8. 2026-06-04
   days on market $200,000 Active 125 DOM
9. 2026-06-03
   days on market $200,000 Active 124 DOM
10. 2026-06-01
    days on market $200,000 Active 122 DOM
11. 2026-05-31
    days on market $200,000 Active 121 DOM
12. 2026-05-21
    price $200,000
13. 2026-01-30
    listed $230,000 Active
14. 2021-11-11
    soldstatus $173,000 Closed 428-char remark

    Show marketing remark (428 chars)

    Bright and open 2 bedroom with 2 bath corner unit with large windows and recently updated kitchen and all in a great location. The stainless kitchen appliances and white cabinets compliment the darker counter top. This unit has a large pantry. Renovated baths. Great balcony off the living area and primary bedroom. One small pet permitted. Close to the Outlet Mall, Whole Foods, I-95, Airport, downtown entertainment and beach.

15. 2021-10-09
    historical Active Under Contract 428-char remark

    Show marketing remark (428 chars)

    Bright and open 2 bedroom with 2 bath corner unit with large windows and recently updated kitchen and all in a great location. The stainless kitchen appliances and white cabinets compliment the darker counter top. This unit has a large pantry. Renovated baths. Great balcony off the living area and primary bedroom. One small pet permitted. Close to the Outlet Mall, Whole Foods, I-95, Airport, downtown entertainment and beach.

16. 2021-10-07
    listed $180,000 Active 428-char remark

    Show marketing remark (428 chars)

    Bright and open 2 bedroom with 2 bath corner unit with large windows and recently updated kitchen and all in a great location. The stainless kitchen appliances and white cabinets compliment the darker counter top. This unit has a large pantry. Renovated baths. Great balcony off the living area and primary bedroom. One small pet permitted. Close to the Outlet Mall, Whole Foods, I-95, Airport, downtown entertainment and beach.

17. 2014-10-18
    historical
18. 2007-08-17
    soldstatus $175,000
19. 2007-07-19
    soldstatus $175,000
20. 2007-06-13
    historical
21. 2007-02-02
    historical
22. 2007-02-01
    listed $199,900
23. 2006-08-08
    listed $214,900
24. 2006-02-09
    historical
25. 2006-02-08
    listed $219,000
26. 2006-01-13
    listed $235,000
27. 2001-12-31
    soldstatus $59,000
28. 2001-12-27
    soldstatus $59,000
29. 2001-11-29
    historical
30. 2001-10-16
    listed $59,000

ⓘ 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: $1,768 · $147/mo
• Projected year-2 tax: $1,784 · $149/mo
• Expected delta: +$16/yr (+$1/mo · 0.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 24 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: $39,376
• − Mortgage interest: −$12,043
• − Property taxes: −$1,768
• − Insurance: −$1,075
• − Repairs & maintenance: −$3,150
• − Management: −$3,150
• − HOA: −$10,560
• − Depreciation: −$6,255
• Taxable income: $1,375
• Est. tax owed @ 24.0%: −$330
• After-tax cash flow: $3,844/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

+239.0% since first listed

19 events — show timeline

• 2026-05-21 Price Changed $200,000 MARMLS
• 2026-01-30 Listed $230,000 MARMLS
• 2021-11-11 Sold (MLS) $173,000 Beaches MLS
• 2021-10-09 Contingent — Beaches MLS
• 2021-10-07 Listed $180,000 Beaches MLS
• 2014-10-18 Listing Removed — Beaches MLS
• 2007-08-17 Sold (Public Records) $175,000 Public Records
• 2007-07-19 Sold (MLS) $175,000 Beaches MLS
• 2007-06-13 Listing Removed — Beaches MLS
• 2007-02-02 Listing Removed — Beaches MLS
• 2007-02-01 Listed $199,900 Beaches MLS
• 2006-08-08 Listed $214,900 Beaches MLS
• 2006-02-09 Listing Removed — Beaches MLS
• 2006-02-08 Listed $219,000 Beaches MLS
• 2006-01-13 Listed $235,000 Beaches MLS
• 2001-12-31 Sold (Public Records) $59,000 Public Records
• 2001-12-27 Sold (MLS) $59,000 Beaches MLS
• 2001-11-29 Listing Removed — Beaches MLS
• 2001-10-16 Listed $59,000 Beaches MLS

Property tax history

+7.4%/yr

Latest (2025): $1,768 · +4.0% YoY. Source: county tax records.