3475 S Ocean Blvd #2160 · Palm Beach, FL 33480

$399,990

2 bd · 2.0 ba · 1,395 sqft · Condo public records · 611 Days on market

Built 1967 $1533/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 +16.4/30.0
• 1% rule +9.1/10.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• Schools +4.3/10.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0

Listing remarks

The Exceptional Market Value in South Palm Beach that far outweighs the HOA fee - Luxury living with priceless perks! Ideal for investors with no rental waiting period, and perfect as a primary or vacation home for those seeking a premier Palm Beach location without spending Millions! Freshly painted exclusive end unit features a spacious kitchen, dining & living area, oversized master suite, bath and walk-in closet. Enjoy your morning cappuccino or evening wine from not one, but two private balconies, with both sunrise and sunset views! Hurricane-impact windows/doors ensure safety while a covered one-car garage space offers comfort. Ideally located minutes from Worth Avenue boutiques

Key facts

• $1,533 HOA
• Garage
• Community pool

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association amenities include beach access, billiard room, elevators, fitness center, game room, pool, sauna, manager on site, community room, internet included, library, parking; Association fee covers cable TV, insurance, grounds maintenance, pest control, security, sewer, trash, water, common areas, common real estate tax, elevator

Exterior

• Parking: Assigned deeded parking; Guest parking; 1 covered space; 1-car garage
• Security: Closed-circuit cameras; Smoke detectors; Owned security system; Security system; Entry phone/intercom; Attended lobby
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Resale; 8-story building; Faces north
• Construction: CBS construction
• Exterior features: Ocean access; Directly on sand; Intracoastal frontage; Entry-level living area

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Walk-in closet(s); French doors; Blinds; Storm windows
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $400k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $400k).
• Recommended offer: $352k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#530 in FL) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A-; Watch: amenities F, commute F, cost of living 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: Lantana Elementary School (math 30% / reading 33%, grade F, #1,841 of 2,144 statewide, top 86%, 484 students, 79% FRL); Lake Worth High School (math 16% / reading 27%, grade F, #546 of 667 statewide, top 82%, 2,683 students, 71% 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 26% at this address vs 50% district-wide (-23 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 (+3.9%/yr); 447 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• In year one you build about $23k of equity ($3k loan paydown + $20k appreciation (5.1% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.1% appreciation + 3.9% rent growth), your $112k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 611 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $60k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $335k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $351,991 (12.0% below list)

Questions for the listing agent

1. It's been on market 611 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 1967 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.41% ✓
• Cap rate: 6.96%
• Cash-on-cash: 2.40%
• DSCR: 1.11
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.12% appreciation · 3.92% rent growth · sell at horizon

5-year hold

• IRR: 16.0%
• Equity multiple: 2.03×
• Total profit: $115,370
• Equity at exit: $229,466

10-year hold

• IRR: 17.0%
• Equity multiple: 4.11×
• Total profit: $347,924
• Equity at exit: $398,359

Cash invested: $111,997 (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 33480

• Home prices YoY: 1.1%
• Rents YoY: 3.9%
• Active inventory: 447
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $5,660 high
• Mortgage (P&I): −$2,098
• Tax from tax record: −$450 /mo · $5,399/yr
• Insurance: −$167
• HOA: −$1,533
• Vacancy / Maint / Mgmt: −$1,189
• Net cashflow: $224

Break-even live

Break-even rent $5,376

Max offer price $399,990

Occupancy floor 91%

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: $99,998
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3475 S Ocean Blvd #1030 Palm Beach, FL	1.0	2.0	1395	$5,500	$3.94	3d	1	0.04mi
3475 S Ocean Blvd #3020 Palm Beach, FL	2.0	2.0	1395	$5,000	$3.58	24d	1	0.04mi
3475 S Ocean Blvd #6150 Palm Beach, FL	2.0	2.0	1395	$8,750	$6.27	24d	1	0.04mi
3475 S Ocean Blvd #6110 Palm Beach, FL	1.0	1.5	891	$3,500	$3.93	24d	1	0.04mi
3475 S Ocean Blvd #3110 Palm Beach, FL	1.0	1.5	891	$2,600	$2.92	24d	1	0.04mi
3475 S Ocean Blvd Palm Beach, FL	2.0	2.0	1395	$5,850	$4.19	24d	3	0.05mi
3456 S Ocean Blvd Apt 705 Palm Beach, FL	2.0	2.0	1457	$3,500	$2.40	24d	1	0.06mi
3456 S Ocean Blvd #105 Palm Beach, FL	2.0	2.0	1482	$12,000	$8.10	24d	1	0.06mi
3456 S Ocean Blvd #6050 Palm Beach, FL	2.0	2.0	1482	$4,650	$3.14	24d	1	0.06mi
3460 S Ocean Blvd #4150 Palm Beach, FL	2.0	2.0	1436	$10,500	$7.31	24d	1	0.10mi
3450 S Ocean Blvd #6010 Palm Beach, FL	2.0	2.0	1548	$5,500	$3.55	14d	1	0.11mi
3450 S Ocean Blvd #3280 Palm Beach, FL	1.0	1.0	952	$2,500	$2.63	24d	1	0.11mi
3450 S Ocean Blvd #8120 Palm Beach, FL	1.0	1.5	1008	$3,500	$3.47	24d	1	0.11mi
3450 S Ocean Blvd #1050 Palm Beach, FL	1.0	1.0	952	$2,950	$3.10	24d	1	0.11mi
3450 S Ocean Blvd #4270 Palm Beach, FL	1.0	1.0	924	$3,250	$3.52	24d	1	0.11mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$9,500	$7.69	3d	10	0.12mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$9,500	$7.69	8d	9	0.12mi
3520 S Ocean Blvd Unit H404 Palm Beach, FL	2.0	2.0	1176	$5,900	$5.02	24d	1	0.15mi
3540 S Ocean Blvd #612 Palm Beach, FL	2.0	2.0	983	$4,700	$4.78	8d	1	0.16mi
3540 S Ocean Blvd #208 Palm Beach, FL	2.0	2.0	983	$2,750	$2.80	4d	1	0.16mi
3540 S Ocean Blvd #608 Palm Beach, FL	2.0	2.0	983	$2,950	$3.00	24d	1	0.16mi
3540 S Ocean Blvd #216 Palm Beach, FL	2.0	2.0	983	$2,550	$2.59	22d	1	0.16mi
3540 S Ocean Blvd Palm Beach, FL	1.0	2.0	983	$4,000	$4.07	24d	1	0.16mi
3440 S Ocean Blvd Unit 307N Palm Beach, FL	2.0	2.0	1457	$8,500	$5.83	24d	1	0.17mi
3400 S Ocean Blvd Unit 1 C I Palm Beach, FL	2.0	2.0	1740	$12,000	$6.90	24d	1	0.25mi
3560 S Ocean Blvd #706 Palm Beach, FL	2.0	2.0	1340	$12,000	$8.96	21d	1	0.27mi
3560 S Ocean Blvd #907 Palm Beach, FL	2.0	2.0	1340	$7,800	$5.82	11d	1	0.27mi
3560 S Ocean Blvd #306 Palm Beach, FL	2.0	2.0	1380	$7,000	$5.07	19d	1	0.27mi
3560 S Ocean Blvd #907 Palm Beach, FL	2.0	2.0	1340	$7,500	$5.60	11d	1	0.27mi
3560 S Ocean Blvd #4 Palm Beach, FL	2.0	2.0	1340	$7,950	$5.93	24d	1	0.27mi
3560 S Ocean Blvd #502 Palm Beach, FL	2.0	2.0	1340	$9,500	$7.09	24d	1	0.27mi
3580 S Ocean Blvd Unit 6B Palm Beach, FL	1.0	1.5	1013	$2,500	$2.47	15d	1	0.35mi
3581 S Ocean Blvd Unit 2B Palm Beach, FL	1.0	1.5	940	$2,900	$3.09	17d	1	0.38mi
3581 S Ocean Blvd Unit 9A Palm Beach, FL	2.0	2.0	1192	$2,600	$2.18	17d	1	0.38mi
3589 S Ocean Blvd #614 Palm Beach, FL	2.0	2.0	1541	$4,200	$2.73	24d	1	0.41mi
3589 S Ocean Blvd #614 Palm Beach, FL	2.0	2.0	1541	$4,200	$2.73	21d	1	0.41mi
3589 S Ocean Blvd #314 Palm Beach, FL	2.0	2.5	1541	$3,000	$1.95	24d	1	0.41mi
3589 S Ocean Blvd #801 Palm Beach, FL	2.0	2.0	1541	$6,000	$3.89	12d	1	0.41mi
3601 S Ocean Blvd Palm Beach, FL	2.0	2.5	1408	$2,900	$2.06	20d	2	0.44mi
3601 S Ocean Blvd #308 Palm Beach, FL	2.0	2.5	1408	$3,250	$2.31	19d	1	0.45mi

HOA detail condo

• Monthly dues: $1,533 · $18,396/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-05-05
   status Pending
2. 2025-12-22
   price $399,990
3. 2025-05-20
   status Active
4. 2025-04-30
   historical
5. 2025-01-15
   price $419,000
6. 2024-10-18
   price $441,600
7. 2024-08-13
   listed $460,000 Active
8. 2004-05-07
   soldstatus $335,000
9. 2003-10-22
   soldstatus $235,000

ⓘ 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: $5,399 · $450/mo
• Projected year-2 tax: $5,399 · $450/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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $67,916
• − Mortgage interest: −$22,406
• − Property taxes: −$5,399
• − Insurance: −$2,000
• − Repairs & maintenance: −$5,433
• − Management: −$5,433
• − HOA: −$18,396
• − Depreciation: −$11,636
• Taxable loss: −$2,787
• Est. tax savings @ 24.0%: +$669
• After-tax cash flow: $3,357/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 — Palm Beach

• Score: 68/100
• State rank: #530
• US rank: #9896

Category grades

Amenities F Commute F Cost of living F Crime A- Employment A+ Housing C+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 10,924
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 10,924
• Household income: $150,633
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 213.0

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: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Cuban 1%
• Common ancestry: Scotch-Irish 7% Romanian 5% Italian 3%
• Foreign-born: 20% · Canada, Dominican Republic, China
• Languages at home: 84% English-only · Spanish 7% Other Indo-European 3% Russian/Polish/Slavic 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: ▲ 5.12%
• Current HPI: 464.2769
• Rent YoY: ▲ 3.92%
• 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

+70.2% since first listed

9 events — show timeline

• 2026-05-05 Pending — Beaches MLS
• 2025-12-22 Price Changed $399,990 Beaches MLS
• 2025-05-20 Relisted — Beaches MLS
• 2025-04-30 Listing Removed — Beaches MLS
• 2025-01-15 Price Changed $419,000 Beaches MLS
• 2024-10-18 Price Changed $441,600 Beaches MLS
• 2024-08-13 Listed $460,000 Beaches MLS
• 2004-05-07 Sold (Public Records) $335,000 Public Records
• 2003-10-22 Sold (Public Records) $235,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $5,399 · +3.5% YoY. Source: county tax records.