2000 Presidential Way #205 · West Palm Beach, FL 33401

$199,900

2 bd · 2.0 ba · 1,134 sqft · Condo public records · 358 Days on market

Built 1972 $1330/mo HOA · 38% 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 +13.3/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• DSCR +4.0/10.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lovely Condo located in the exclusive gated community of Lands of President. Walk in to a spacious sunlit open floor plan with a wall of sliders that leads out to your private balcony where you can take in the beautiful golf community. Clean neutral colored carpets, recessed lighting, built in shelving and a separate dining area. A true find!!

Key facts

• Gated community
• Private balcony
• Walk-in closet

Tags

• GATED COMMUNITY
• PRIVATE BALCONY
• WALK-IN CLOSET
• EN-SUITE BATH
• MINUTES FROM PALM BEACH ISLAND
• MINUTES FROM THE OUTLETS

Property features AI

Finance

• Other: Unit is in a multi-unit high-rise building
• Financial info: Pets allowed (breed restrictions and possible pet restrictions)
• HOA & community: Has association; Monthly association fee (amount provided separately); Association amenities include elevator(s), fitness center, game room, picnic area, pool, and on-site manager; Association fee includes cable TV, security, water, elevator, and hot water

Exterior

• Parking: Has carport; 1 covered/carport space
• Security: Association provides security
• Utilities: Association includes water and hot water; No additional utilities listed
• Home design: Condominium; Resale condition; Faces south; 20-story building
• Construction: Built with concrete block (CBS); Building area reported from public records
• Exterior features: Not waterfront; No waterfront features

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 2 bedrooms on the main level
• Flooring: Other flooring type (not specified)
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central building cooling; Ceiling fan(s); Electric cooling
• Interior features: Unfurnished; No notable built-in interior features reported
• Laundry & utility: Laundry inside the unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $1 ($12/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.3% 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; 15 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 $3,485/mo this rent would consume 62% 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.

Negotiation context

• It's been on market 358 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 25y 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 $138k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 358 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. 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?
9. 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.
10. 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.
11. 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: 6.30%
• Cash-on-cash: 0.02%
• DSCR: 1.00
• GRM: 4.8

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: -11.2%
• Equity multiple: 0.58×
• Total profit: $-23,734
• Equity at exit: $29,806

10-year hold

• IRR: 3.3%
• Equity multiple: 1.29×
• Total profit: $16,069
• Equity at exit: $17,284

Cash invested: $55,972 (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 33401

• Rents YoY: 5.2%
• Active inventory: 506
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,485 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$290 /mo · $3,486/yr
• Insurance: −$83
• HOA: −$1,330
• Vacancy / Maint / Mgmt: −$732
• Net cashflow: $1

Break-even live

Break-even rent $3,484

Max offer price $199,900

Occupancy floor 95%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1991 Presidential Way West Palm Beach, FL	1.0	1.0	827	$3,427	$4.14	7d	1	0.10mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	16d	1	0.10mi
2400 Presidential Way #1906 West Palm Beach, FL	1.0	2.0	1294	$3,000	$2.32	24d	1	0.13mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	24d	1	0.18mi
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	24d	1	0.29mi
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	24d	1	0.75mi
1319 13th St West Palm Beach, FL	3.0	2.0	1215	$3,200	$2.63	24d	1	1.09mi
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$2,705	$2.53	19d	19	1.23mi
1104 State St Unit C West Palm Beach, FL	3.0	1.0	875	$3,000	$3.43	24d	1	1.25mi
933 30th Ct West Palm Beach, FL	3.0	1.5	1085	$3,100	$2.86	24d	1	1.35mi
932 31st St West Palm Beach, FL	3.0	2.0	850	$3,000	$3.53	24d	1	1.36mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	24d	1	1.42mi
3590 Village Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1074	$2,798	$2.60	1d	29	1.46mi
195 River Grove Way West Palm Beach, FL	2.0	1.0–2.0	828	$3,002	$3.63	2d	18	1.50mi
823 14th St West Palm Beach, FL	3.0	1.0	1000	$3,495	$3.50	24d	1	1.50mi

HOA detail condo

• Monthly dues: $1,330 · $15,960/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 46 events

1. 2025-08-15
   status Active
2. 2025-08-15
   historical
3. 2025-07-02
   historical $2,000
4. 2025-06-02
   price $2,000
5. 2025-06-01
   listed $199,900 Active
6. 2025-05-30
   price $2,100
7. 2025-05-18
   price $2,300
8. 2025-05-13
   price $2,350
9. 2025-05-01
   price $2,400
10. 2025-04-22
    price $2,450
11. 2025-04-05
    listed $2,495
12. 2025-04-05
    historical $2,495
13. 2025-04-04
    listed $2,495
14. 2021-09-22
    soldstatus $137,500
15. 2021-03-29
    status Active
16. 2021-03-24
    historical
17. 2021-02-10
    historical
18. 2021-01-06
    status Active
19. 2020-12-24
    historical Contingent
20. 2020-11-19
    price $144,900
21. 2020-03-08
    price $149,000
22. 2020-01-01
    listed $155,000 Active
23. 2015-10-09
    soldstatus $85,000 Closed 345-char remark

    Show marketing remark (345 chars)

    Lovely Condo located in the exclusive gated community of Lands of President. Walk in to a spacious sunlit open floor plan with a wall of sliders that leads out to your private balcony where you can take in the beautiful golf community. Clean neutral colored carpets, recessed lighting, built in shelving and a separate dining area. A true find!!

24. 2015-09-24
    status Pending 345-char remark

    Show marketing remark (345 chars)

    Lovely Condo located in the exclusive gated community of Lands of President. Walk in to a spacious sunlit open floor plan with a wall of sliders that leads out to your private balcony where you can take in the beautiful golf community. Clean neutral colored carpets, recessed lighting, built in shelving and a separate dining area. A true find!!

25. 2015-09-10
    price $85,500 345-char remark

    Show marketing remark (345 chars)

    Lovely Condo located in the exclusive gated community of Lands of President. Walk in to a spacious sunlit open floor plan with a wall of sliders that leads out to your private balcony where you can take in the beautiful golf community. Clean neutral colored carpets, recessed lighting, built in shelving and a separate dining area. A true find!!

26. 2015-09-09
    status Active 345-char remark

    Show marketing remark (345 chars)

    Lovely Condo located in the exclusive gated community of Lands of President. Walk in to a spacious sunlit open floor plan with a wall of sliders that leads out to your private balcony where you can take in the beautiful golf community. Clean neutral colored carpets, recessed lighting, built in shelving and a separate dining area. A true find!!

27. 2015-09-04
    status Pending 345-char remark

    Show marketing remark (345 chars)

    Lovely Condo located in the exclusive gated community of Lands of President. Walk in to a spacious sunlit open floor plan with a wall of sliders that leads out to your private balcony where you can take in the beautiful golf community. Clean neutral colored carpets, recessed lighting, built in shelving and a separate dining area. A true find!!

28. 2015-07-30
    listed $94,500 Active 345-char remark

    Show marketing remark (345 chars)

    Lovely Condo located in the exclusive gated community of Lands of President. Walk in to a spacious sunlit open floor plan with a wall of sliders that leads out to your private balcony where you can take in the beautiful golf community. Clean neutral colored carpets, recessed lighting, built in shelving and a separate dining area. A true find!!

29. 2014-10-18
    historical
30. 2014-09-16
    historical
31. 2014-03-14
    status Pending
32. 2014-01-07
    listed $69,500 Active
33. 2013-12-21
    historical
34. 2013-12-10
    price $72,500
35. 2013-11-07
    price $78,500
36. 2013-10-15
    listed $84,000 Active
37. 2013-10-11
    historical
38. 2013-09-12
    listed $84,000 Active
39. 2006-01-07
    listed $232,900
40. 2003-08-28
    soldstatus $92,000
41. 2003-08-25
    soldstatus $92,000
42. 2003-08-02
    historical
43. 2003-05-28
    listed $95,000
44. 2001-12-07
    soldstatus $42,500
45. 2001-10-19
    historical
46. 2001-09-21
    listed $60,000

ⓘ 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: $3,486 · $290/mo
• Projected year-2 tax: $3,485 · $290/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 · 23 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: $41,818
• − Mortgage interest: −$11,198
• − Property taxes: −$3,486
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,345
• − Management: −$3,345
• − HOA: −$15,960
• − Depreciation: −$5,815
• Taxable loss: −$2,330
• Est. tax savings @ 24.0%: +$559
• After-tax cash flow: $571/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

-96.7% since first listed

46 events — show timeline

• 2025-08-15 Relisted — Beaches MLS
• 2025-08-15 Listing Removed — Beaches MLS
• 2025-07-02 Rental Removed $2,000 GFLMLS
• 2025-06-02 Price Changed $2,000 GFLMLS
• 2025-06-01 Listed $199,900 Beaches MLS
• 2025-05-30 Price Changed $2,100 GFLMLS
• 2025-05-18 Price Changed $2,300 GFLMLS
• 2025-05-13 Price Changed $2,350 GFLMLS
• 2025-05-01 Price Changed $2,400 GFLMLS
• 2025-04-22 Price Changed $2,450 GFLMLS
• 2025-04-05 Listed for Rent $2,495 GFLMLS
• 2025-04-05 Rental Removed $2,495 RMLSFL
• 2025-04-04 Listed for Rent $2,495 RMLSFL
• 2021-09-22 Sold (Public Records) $137,500 Public Records
• 2021-03-29 Relisted — Beaches MLS
• 2021-03-24 Listing Removed — Beaches MLS
• 2021-02-10 Listing Removed — Beaches MLS
• 2021-01-06 Relisted — Beaches MLS
• 2020-12-24 Contingent — Beaches MLS
• 2020-11-19 Price Changed $144,900 Beaches MLS
• 2020-03-08 Price Changed $149,000 Beaches MLS
• 2020-01-01 Listed $155,000 Beaches MLS
• 2015-10-09 Sold (MLS) $85,000 Beaches MLS
• 2015-09-24 Pending — Beaches MLS
• 2015-09-10 Price Changed $85,500 Beaches MLS
• 2015-09-09 Relisted — Beaches MLS
• 2015-09-04 Pending — Beaches MLS
• 2015-07-30 Listed $94,500 Beaches MLS
• 2014-10-18 Listing Removed — Beaches MLS
• 2014-09-16 Listing Removed — Beaches MLS
• 2014-03-14 Pending — Beaches MLS
• 2014-01-07 Listed $69,500 Beaches MLS
• 2013-12-21 Listing Removed — Beaches MLS
• 2013-12-10 Price Changed $72,500 Beaches MLS
• 2013-11-07 Price Changed $78,500 Beaches MLS
• 2013-10-15 Listed $84,000 Beaches MLS
• 2013-10-11 Listing Removed — Beaches MLS
• 2013-09-12 Listed $84,000 Beaches MLS
• 2006-01-07 Listed $232,900 Beaches MLS
• 2003-08-28 Sold (Public Records) $92,000 Public Records
• 2003-08-25 Sold (MLS) $92,000 Beaches MLS
• 2003-08-02 Listing Removed — Beaches MLS
• 2003-05-28 Listed $95,000 Beaches MLS
• 2001-12-07 Sold (Public Records) $42,500 Public Records
• 2001-10-19 Listing Removed — Beaches MLS
• 2001-09-21 Listed $60,000 Beaches MLS

Property tax history

+6.7%/yr

Latest (2025): $3,486 · -12.4% YoY. Source: county tax records.