38 Northampton B #38 · West Palm Beach, FL 33417

$80,000

1 bd · 1.5 ba · 684 sqft · Condo · 160 Days on market

Built 1972 $395/mo HOA · 28% of rent ↓ 37% since listing

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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 +23.8/30.0
• 1% rule +10.0/10.0
• DSCR +7.7/10.0
• 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

Great Place to live out of the cold 1 1 1/2 furnished 55+on second floor tranquil view of canal from screened in patio, in a large very active Gated community with lots to do. many swimming pools, club houses, amenities , security, lake for Kayaking, picnic area and much more also this bldg can be rented once a year. come see it

Key facts

• Gated community
• Lake for kayaking
• Many swimming pools

Tags

• TRANQUIL VIEW OF CANAL
• SCREENED IN PATIO
• GATED COMMUNITY
• MANY SWIMMING POOLS
• CLUB HOUSES
• LAKE FOR KAYAKING

Property features AI

Finance

• Financial info: Lease considered; Pets not allowed
• HOA & community: Monthly association fee; Association amenities include fitness center, laundry, barbecue, picnic area, pickleball, pool, shuffleboard court, spa/hot tub, trails; Association covers amenities, cable TV, laundry, grounds maintenance, recreation facilities, security, and trash; Senior community

Exterior

• Parking: Detached 1-car garage; Guest parking available; 1 covered parking space
• Security: Complex is fenced; Security guard
• Utilities: Cable available
• Home design: Attached property; 2-story building; Entry on second floor; Has a view; Waterfront with canal access
• Construction: Block construction; Resale property
• Exterior features: Balcony; Screened balcony; Association pool

Interior

• Kitchen: Dishwasher; Microwave
• Flooring: Laminate flooring; Marble flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Ceiling fans; Wall/window air conditioning units
• Interior features: Second floor entry
• Laundry & utility: Washer hookup; Dryer hookup; Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $80k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 flat; 473 active listings in the ZIP; 40 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).
• This rent runs 32% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k 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 160 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $48k (37%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.74% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.23%
• DSCR: 1.37
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.02% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.69×
• Total profit: $-6,970
• Equity at exit: $11,928

10-year hold

• IRR: -7.2%
• Equity multiple: 0.64×
• Total profit: $-8,088
• Equity at exit: $6,917

Cash invested: $22,400 (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 33417

• Home prices YoY: -29.2%
• Rents YoY: 0.0%
• Active inventory: 473
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,394 high
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$395
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $154

Break-even live

Break-even rent $1,200

Max offer price $80,000

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
92 Berkshire Cres Unit 92 West Palm Beach, FL	1.0	1.0	615	$1,350	$2.20	24d	1	0.10mi
333 Northampton Q Unit 333 West Palm Beach, FL	1.0	1.0	570	$1,300	$2.28	24d	1	0.10mi
235 Northampton L #235 West Palm Beach, FL	1.0	1.0	615	$1,300	$2.11	10d	1	0.11mi
172 Camden I West Palm Beach, FL	1.0	1.5	646	$1,400	$2.17	2d	1	0.12mi
243 Northampton M Unit M West Palm Beach, FL	1.0	1.0	570	$1,400	$2.46	7d	1	0.13mi
89 Berkshire D #89 West Palm Beach, FL	1.0	1.0	585	$1,050	$1.79	7d	1	0.13mi
89 Berkshire D #89 West Palm Beach, FL	1.0	1.0	585	$1,150	$1.97	24d	1	0.13mi
216 Berkshire K Unit K West Palm Beach, FL	1.0	1.0	585	$1,400	$2.39	20d	1	0.13mi
107 Kent St Unit 107* West Palm Beach, FL	1.0	1.0	570	$1,500	$2.63	24d	1	0.14mi
157 Camden G West Palm Beach, FL	1.0	1.5	646	$1,350	$2.09	24d	1	0.14mi
231 Berkshire K #231 West Palm Beach, FL	1.0	1.0	585	$1,150	$1.97	2d	1	0.15mi
209 Camden I Unit 209 West Palm Beach, FL	1.0	1.5	738	$1,350	$1.83	24d	1	0.16mi
118 Kent H West Palm Beach, FL	1.0	1.0	570	$1,325	$2.32	24d	1	0.17mi
220 Berkshire K #220 West Palm Beach, FL	1.0	1.0	585	$1,300	$2.22	20d	1	0.17mi
142 Kent I West Palm Beach, FL	1.0	1.5	684	$1,475	$2.16	24d	1	0.18mi
179 Berkshire I Unit I West Palm Beach, FL	1.0	1.0	585	$1,225	$2.09	24d	1	0.19mi
374 Camden P West Palm Beach, FL	1.0	1.0	570	$1,150	$2.02	18d	1	0.19mi
372 Camden P West Palm Beach, FL	1.0	1.0	570	$1,200	$2.11	24d	1	0.20mi
3 Berkshire a West Palm Beach, FL	1.0	1.0	585	$1,900	$3.25	24d	1	0.26mi
364 Camden Dr Unit 364 West Palm Beach, FL	1.0	1.0	570	$1,500	$2.63	24d	1	0.26mi
210 Canterbury E Unit 1 West Palm Beach, FL	1.0	1.0	570	$1,375	$2.41	12d	1	0.28mi
166 Sussex I Unit I West Palm Beach, FL	1.0	1.0	570	$1,500	$2.63	24d	1	0.29mi
176 Sussex I Unit I West Palm Beach, FL	1.0	1.0	570	$1,400	$2.46	24d	1	0.29mi
172 Sussex I Unit I West Palm Beach, FL	1.0	1.0	570	$1,500	$2.63	24d	1	0.29mi
159 Sussex H West Palm Beach, FL	1.0	1.0	570	$1,350	$2.37	24d	1	0.29mi
176 Sussex I Unit I West Palm Beach, FL	1.0	1.0	570	$1,400	$2.46	17d	1	0.29mi
4 Sussex a West Palm Beach, FL	1.0	1.0	615	$1,350	$2.20	14d	1	0.29mi
204 Canterbury I Unit I West Palm Beach, FL	1.0	1.0	570	$1,350	$2.37	24d	1	0.31mi
201 Canterbury I Unit I West Palm Beach, FL	1.0	1.0	570	$1,250	$2.19	24d	1	0.31mi
175 Canterbury H #175 West Palm Beach, FL	1.0	1.0	570	$1,250	$2.19	14d	1	0.31mi
361 Windsor N West Palm Beach, FL	1.0	1.5	702	$1,350	$1.92	24d	1	0.31mi
16 Sussex E Unit 16 West Palm Beach, FL	1.0	1.0	570	$1,350	$2.37	12d	1	0.32mi
197 Sussex E Unit 197 West Palm Beach, FL	1.0	1.5	684	$1,500	$2.19	24d	1	0.33mi
11 Cambridge E Unit 11 West Palm Beach, FL	1.0	1.5	684	$1,500	$2.19	24d	1	0.33mi
284 Windsor M Unit M West Palm Beach, FL	1.0	1.0	585	$1,350	$2.31	24d	1	0.34mi
298 Windsor M Unit M West Palm Beach, FL	1.0	1.5	702	$1,300	$1.85	24d	1	0.34mi
298 Windsor M Unit M West Palm Beach, FL	1.0	1.5	702	$1,250	$1.78	17d	1	0.34mi
49 Cambridge B Unit B West Palm Beach, FL	1.0	1.5	684	$1,450	$2.12	24d	1	0.36mi
49 Cambridge B Unit B West Palm Beach, FL	1.0	1.5	684	$1,350	$1.97	2d	1	0.36mi
17 Cambridge a West Palm Beach, FL	1.0	1.5	684	$1,200	$1.75	24d	1	0.36mi

HOA detail condo

• Monthly dues: $395 · $4,740/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $80,000 Active 160 DOM
2. 2026-06-17
   days on market $80,000 Active 159 DOM
3. 2026-06-16
   days on market $80,000 Active 158 DOM
4. 2026-06-15
   days on market $80,000 Active 157 DOM
5. 2026-06-13
   days on market $80,000 Active 155 DOM
6. 2026-06-09
   days on market $80,000 Active 151 DOM
7. 2026-06-07
   days on market $80,000 Active 149 DOM
8. 2026-06-04
   days on market $80,000 Active 146 DOM
9. 2026-06-03
   days on market $80,000 Active 145 DOM
10. 2026-06-01
    days on market $80,000 Active 143 DOM
11. 2026-05-31
    days on market $80,000 Active 142 DOM
12. 2026-04-02
    price $80,000
13. 2026-03-14
    price $100,000
14. 2026-02-20
    price $110,000
15. 2026-01-08
    listed $127,500 Active
16. 2025-12-31
    historical
17. 2025-06-25
    listed $127,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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: $16,733
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,339
• − Management: −$1,339
• − HOA: −$4,740
• − Depreciation: −$2,327
• Taxable income: $907
• Est. tax owed @ 24.0%: −$218
• After-tax cash flow: $1,627/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

• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 38,079
• Household income: $51,605
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 2548.0

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 0.72)
• Race & ethnicity: White 34% Black 30% Hispanic / Latino 27% Two or more races 16% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Cuban 5% Dominican 2%
• Common ancestry: Hispanic 10% Romanian 3% Scotch-Irish 1%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 58% English-only · Spanish 24% French/Haitian/Cajun 11% Other Indo-European 3%

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: ▼ -138.62%
• Current HPI: 335.8396
• Rent YoY: ▬ 0.02%
• 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

-37.3% since first listed

6 events — show timeline

• 2026-04-02 Price Changed $80,000 MARMLS
• 2026-03-14 Price Changed $100,000 MARMLS
• 2026-02-20 Price Changed $110,000 MARMLS
• 2026-01-08 Listed $127,500 MARMLS
• 2025-12-31 Listing Removed — MARMLS
• 2025-06-25 Listed $127,500 MARMLS