325 3rd Way · West Palm Beach, FL 33407

$239,999

2 bd · 2.5 ba · 1,236 sqft · Townhouse public records · 74 Days on market

Built 1983 1,372 sqft lot Est $230k · at est. $634/mo HOA · 22% 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 +18.5/30.0
• 1% rule +7.2/10.0
• DSCR +5.8/10.0
• ARV discount +5.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• $634 HOA
• 2 parking spots
• Community pool

Property features AI

Finance

• Other: Pets allowed (restrictions, breed and number limits may apply)
• HOA & community: Community association: The General Ledger of the Palm Beach, Inc; Monthly HOA fee of $634; HOA covers cable TV, insurance, internet, grounds and structure maintenance, pest control, sewer, trash, water, common areas and roof repairs; Community amenities include park, playground, pool, tennis courts, pickleball courts, trails, sidewalks, parking, recreation facilities and internet included

Exterior

• Parking: Assigned parking; Guest parking; 2 total parking spaces
• Utilities: Public water; Public sewer; Three-phase electric; Cable available, electricity connected, phone connected, water available, sewer available
• Home design: Townhouse; Multi/split and one-level configuration; Faces south; Resale property
• Construction: Brick, concrete and stucco construction; Mansard and shingle roof; 1 story
• Exterior features: Open patio and terrace; Patio; Fenced front and back yard with wood gate

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Laminate; Tile; Vinyl; Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom; 1 bathroom on the main level
• Heating & cooling: Central heating; Radiant heating; Central air conditioning; Ceiling fans
• Interior features: Walk-in closets; Upstairs living area; Sliding windows; Unfurnished
• Laundry & utility: Washer/dryer area inside (in bathroom)

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $240k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $226k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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.
• Zoned schools: Egret Lake Elementary School (math 32% / reading 37%, grade F, #1,709 of 2,144 statewide, top 81%, 569 students, 80% FRL); Bear Lakes Middle School (math 19% / reading 33%, grade F, #506 of 571 statewide, top 89%, 842 students, 74% FRL); Palm Beach Lakes High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 2,688 students, 70% 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 27% at this address vs 50% district-wide (-22 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 (+3.1%/yr); 305 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 74 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $56k; list at $240k implies a 325% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,599 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 7.43%
• Cash-on-cash: 4.07%
• DSCR: 1.18
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $229,896
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6606 66th Way	0.34mi	2/2.5	1,236 (0%)	9mo	$230,000	$186	77

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.08% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.65×
• Total profit: $-23,845
• Equity at exit: $35,785

10-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $130
• Equity at exit: $20,751

Cash invested: $67,200 (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 33407

• Rents YoY: 3.1%
• Active inventory: 305
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,931 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$95 /mo · $1,142/yr
• Insurance: −$100
• HOA: −$634
• Vacancy / Maint / Mgmt: −$615
• Net cashflow: $228

Break-even live

Break-even rent $2,643

Max offer price $239,999

Occupancy floor 87%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3590 Village Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1074	$2,798	$2.60	1d	29	0.21mi
195 River Grove Way West Palm Beach, FL	2.0	1.0–2.0	828	$3,002	$3.63	2d	18	0.40mi
5649 Mentmore Dr Riviera Beach, FL	3.0	2.5	1450	$2,900	$2.00	24d	1	0.93mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$2,528	$2.07	17d	60	1.02mi
2400 Presidential Way #1906 West Palm Beach, FL	1.0	2.0	1294	$3,000	$2.32	24d	1	1.28mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	24d	1	1.31mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	24d	1	1.34mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	16d	1	1.38mi
1991 Presidential Way West Palm Beach, FL	1.0	1.0	827	$3,427	$4.14	7d	1	1.38mi
4385 Willow Brook Cir West Palm Beach, FL	3.0	2.0	1468	$3,200	$2.18	22d	1	1.41mi

HOA detail

• Monthly dues: $634 · $7,608/yr

Listing history 22 events

1. 2026-06-18
   days on market $239,999 Active 74 DOM
2. 2026-06-17
   days on market $239,999 Active 73 DOM
3. 2026-06-16
   days on market $239,999 Active 72 DOM
4. 2026-06-15
   days on market $239,999 Active 71 DOM
5. 2026-06-13
   days on market $239,999 Active 69 DOM
6. 2026-06-09
   days on market $239,999 Active 65 DOM
7. 2026-06-08
   days on market $239,999 Active 64 DOM
8. 2026-06-07
   days on market $239,999 Active 63 DOM
9. 2026-06-04
   days on market $239,999 Active 60 DOM
10. 2026-06-03
    days on market $239,999 Active 59 DOM
11. 2026-06-02
    days on market $239,999 Active 58 DOM
12. 2026-06-01
    days on market $239,999 Active 57 DOM
13. 2026-05-31
    days on market $239,999 Active 56 DOM
14. 2026-04-01
    listed $239,999 Active
15. 2026-03-06
    status Active
16. 2026-01-26
    historical Active Under Contract
17. 2026-01-26
    historical
18. 2026-01-08
    price $245,400
19. 2025-10-06
    listed $245,900 Active
20. 1988-12-01
    soldstatus $56,500
21. 1986-08-01
    soldstatus $51,900
22. 1983-02-01
    soldstatus $49,900

ⓘ 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: $1,142 · $95/mo
• Projected year-2 tax: $1,992 · $166/mo
• Expected delta: +$850/yr (+$71/mo · 74.4%)

ⓘ 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 6 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,171
• − Mortgage interest: −$13,444
• − Property taxes: −$1,142
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,814
• − Management: −$2,814
• − HOA: −$7,608
• − Depreciation: −$6,982
• Taxable loss: −$832
• Est. tax savings @ 24.0%: +$200
• After-tax cash flow: $2,932/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): 34,851
• Household income: $59,993
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 2157.0

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 0.62)
• Race & ethnicity: Black 54% White 21% Hispanic / Latino 20% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 2%
• Common ancestry: Hispanic 8% Lithuanian 1% Romanian 1%
• Foreign-born: 26% · Canada, Vietnam, Jamaica
• Languages at home: 72% English-only · Spanish 17% French/Haitian/Cajun 8% Other Indo-European 1%

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: ▼ -299.26%
• Current HPI: 363.3995
• Rent YoY: ▲ 3.08%
• 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

+381.0% since first listed

9 events — show timeline

• 2026-04-01 Listed $239,999 Beaches MLS
• 2026-03-06 Relisted — Beaches MLS
• 2026-01-26 Contingent — Beaches MLS
• 2026-01-26 Listing Removed — Beaches MLS
• 2026-01-08 Price Changed $245,400 Beaches MLS
• 2025-10-06 Listed $245,900 Beaches MLS
• 1988-12-01 Sold (Public Records) $56,500 Public Records
• 1986-08-01 Sold (Public Records) $51,900 Public Records
• 1983-02-01 Sold (Public Records) $49,900 Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,142 · +3.7% YoY. Source: county tax records.