2425 Presidential Way #402 · West Palm Beach, FL 33401

$178,000

2 bd · 2.0 ba · 1,134 sqft · Condo public records · 156 Days on market

Built 1974 $1158/mo HOA · 33% of rent

---

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 +23.6/30.0
• 1% rule +10.0/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 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

2/2 UNIT, OPEN KITCHEN, PANTRY & BREAKFAST AREA, TILED DINING ROOM, TINTED WINDOWS, , WALK-IN CLOSETS, STORM SHUTTERS, OWNER MOTIVADED

Key facts

• Pantry
• Walk-in closets
• Storm shutters

Tags

• OPEN KITCHEN
• PANTRY
• BREAKFAST AREA
• WALK-IN CLOSETS
• STORM SHUTTERS

Property features AI

Finance

• Other: Pets allowed with restrictions (breed, number, size; possible additional pet restrictions); Community contains many units (approximately 1000)
• Financial info: No specific multifamily cash flow, income, or expense details provided
• HOA & community: Association fees paid monthly; Association amenities include elevator(s), fitness center, parking, pool, tennis courts, on-site manager, trash chute, bike storage, and community room; Association fee includes insurance, grounds maintenance, pest control, security, sewer, trash, water, common areas, and elevator

Exterior

• Parking: Assigned parking; Garage with 1 garage space; 1 covered parking space
• Security: Gated (with and without guard); Security system; Attended lobby; Security patrol
• Utilities: Public water; Public sewer; Three-phase electric; Sewer and water available
• Home design: Condominium; Resale condition; Faces northeast; Building has 21 stories
• Construction: CBS construction
• Exterior features: Not waterfront; Tar and gravel roof

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: One bedroom on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: Two full bathrooms (one on the main level)
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Walk-in closets; Blinds; Sliding windows
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $178k.

Deal economics

• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $178k).
• Recommended offer: $157k (12.0% below list) — sets the bar for market timing.

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: Roosevelt Elementary School (math 22% / reading 22%, grade F, #2,080 of 2,144 statewide, top 97%, 324 students, 86% 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 78% FRL vs 52% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 50% district-wide (-28 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 fast (+5.2%/yr); 507 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $1k of loan paydown is wiped out by about $5k 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 $50k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 27y 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 $90k; list at $178k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $156,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 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 1974 — 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: 1.98% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.08%
• DSCR: 1.36
• GRM: 4.2

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: 0.6%
• Equity multiple: 1.02×
• Total profit: $1,115
• Equity at exit: $26,540

10-year hold

• IRR: 13.8%
• Equity multiple: 2.31×
• Total profit: $65,111
• Equity at exit: $15,390

Cash invested: $49,840 (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: 507
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $3,521 high
• Mortgage (P&I): −$933
• Tax from tax record: −$280 /mo · $3,363/yr
• Insurance: −$74
• HOA: −$1,158
• Vacancy / Maint / Mgmt: −$739
• Net cashflow: $336

Break-even live

Break-even rent $3,096

Max offer price $178,000

Occupancy floor 85%

Sensitivity live

Price	-10% $436	-5% $386	+0% $336	+5% $285	+10% $235
Rent	-10% $58	-5% $197	+0% $336	+5% $475	+10% $614
Rate	-1.0pp $425	-0.5pp $381	base $336	+0.5pp $290	+1.0pp $243

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: $44,500
• Closing costs: $5,340
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	25d	1	0.03mi
2400 Presidential Way #1906 West Palm Beach, FL	1.0	2.0	1294	$3,000	$2.32	25d	1	0.11mi
1991 Presidential Way West Palm Beach, FL	1.0	1.0	827	$3,427	$4.14	9d	1	0.11mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	17d	1	0.11mi
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	25d	1	0.27mi
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	25d	1	0.57mi
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$2,705	$2.53	21d	19	1.17mi
1319 13th St West Palm Beach, FL	3.0	2.0	1215	$3,200	$2.63	25d	1	1.23mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	25d	1	1.24mi
1104 State St Unit C West Palm Beach, FL	3.0	1.0	875	$3,000	$3.43	25d	1	1.43mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$2,528	$2.07	19d	60	1.44mi
3590 Village Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1074	$2,785	$2.59	0d	30	1.47mi
1211 Pine Sage Cir West Palm Beach, FL	3.0	2.0	1367	$3,200	$2.34	6d	1	1.49mi

HOA detail condo

• Monthly dues: $1,158 · $13,896/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 45 events

1. 2026-06-21
   days on market $178,000 Active 156 DOM
2. 2026-06-18
   days on market $178,000 Active 153 DOM
3. 2026-06-17
   days on market $178,000 Active 152 DOM
4. 2026-06-16
   days on market $178,000 Active 151 DOM
5. 2026-06-15
   days on market $178,000 Active 150 DOM
6. 2026-06-13
   days on market $178,000 Active 148 DOM
7. 2026-06-09
   days on market $178,000 Active 144 DOM
8. 2026-06-07
   days on market $178,000 Active 142 DOM
9. 2026-06-04
   days on market $178,000 Active 139 DOM
10. 2026-06-03
    days on market $178,000 Active 138 DOM
11. 2026-06-01
    days on market $178,000 Active 136 DOM
12. 2026-05-31
    days on market $178,000 Active 135 DOM
13. 2026-03-31
    price $178,000
14. 2026-01-15
    listed $182,000 Active
15. 2025-12-31
    historical
16. 2025-11-06
    price $195,000
17. 2025-08-01
    historical $2,000
18. 2025-07-05
    status Active
19. 2025-07-03
    historical
20. 2025-06-03
    price $210,000
21. 2025-05-15
    price $2,000
22. 2025-03-26
    price $2,100
23. 2025-01-23
    price $240,000
24. 2025-01-21
    listed $2,150
25. 2025-01-15
    listed $210,000 Active
26. 2025-01-01
    historical
27. 2024-12-13
    price $255,000
28. 2024-07-01
    listed $235,000 Active
29. 2024-02-01
    historical
30. 2023-10-02
    listed $240,000 Active
31. 2013-12-01
    historical
32. 2013-10-30
    soldstatus $90,000
33. 2013-09-22
    historical
34. 2011-02-03
    soldstatus $71,000
35. 2008-10-22
    historical
36. 2008-04-10
    listed $224,000
37. 2005-09-20
    historical
38. 2005-09-06
    listed $229,900
39. 2005-07-07
    listed $219,000
40. 2001-09-21
    soldstatus $70,000
41. 2001-09-13
    soldstatus $70,000
42. 2001-08-06
    historical
43. 2001-05-14
    listed $75,000
44. 1999-12-02
    listed $75,000
45. 1974-01-01
    soldstatus $50,900

ⓘ 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: $3,363 · $280/mo
• Projected year-2 tax: $3,363 · $280/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 9/10 Extreme 6 d/yr ≥105°F today · 21 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: $42,251
• − Mortgage interest: −$9,971
• − Property taxes: −$3,363
• − Insurance: −$890
• − Repairs & maintenance: −$3,380
• − Management: −$3,380
• − HOA: −$13,896
• − Depreciation: −$5,178
• Taxable income: $2,193
• Est. tax owed @ 24.0%: −$526
• After-tax cash flow: $3,502/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

+249.7% since first listed

33 events — show timeline

• 2026-03-31 Price Changed $178,000 Beaches MLS
• 2026-01-15 Listed $182,000 Beaches MLS
• 2025-12-31 Listing Removed — Beaches MLS
• 2025-11-06 Price Changed $195,000 Beaches MLS
• 2025-08-01 Rental Removed $2,000 RMLSFL
• 2025-07-05 Relisted — Beaches MLS
• 2025-07-03 Listing Removed — Beaches MLS
• 2025-06-03 Price Changed $210,000 Beaches MLS
• 2025-05-15 Price Changed $2,000 RMLSFL
• 2025-03-26 Price Changed $2,100 RMLSFL
• 2025-01-23 Price Changed $240,000 Beaches MLS
• 2025-01-21 Listed for Rent $2,150 RMLSFL
• 2025-01-15 Listed $210,000 Beaches MLS
• 2025-01-01 Listing Removed — Beaches MLS
• 2024-12-13 Price Changed $255,000 Beaches MLS
• 2024-07-01 Listed $235,000 Beaches MLS
• 2024-02-01 Listing Removed — Beaches MLS
• 2023-10-02 Listed $240,000 Beaches MLS
• 2013-12-01 Listing Removed — Beaches MLS
• 2013-10-30 Sold (Public Records) $90,000 Public Records
• 2013-09-22 Listing Removed — Beaches MLS
• 2011-02-03 Sold (Public Records) $71,000 Public Records
• 2008-10-22 Listing Removed — Beaches MLS
• 2008-04-10 Listed $224,000 Beaches MLS
• 2005-09-20 Listing Removed — Beaches MLS
• 2005-09-06 Listed $229,900 Beaches MLS
• 2005-07-07 Listed $219,000 Beaches MLS
• 2001-09-21 Sold (Public Records) $70,000 Public Records
• 2001-09-13 Sold (MLS) $70,000 Beaches MLS
• 2001-08-06 Listing Removed — Beaches MLS
• 2001-05-14 Listed $75,000 Beaches MLS
• 1999-12-02 Listed $75,000 Beaches MLS
• 1974-01-01 Sold (Public Records) $50,900 Public Records

Property tax history

+11.6%/yr

Latest (2025): $3,363 · +2.5% YoY. Source: county tax records.