180 Par Dr

Royal Palm Beach, FL 33411

$395,000D+

3 bd · 2.0 ba · 1,636 sqft · Built 1995 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,080/mo
• Mortgage (P&I): −$2,071
• Tax + insurance: −$648
• HOA: −$376
• Vac / Maint / Mgmt: −$647
• Net cashflow: $-663/mo
• Annual: $-7,951/yr
• Cap rate: 4.28%
• Cash-on-cash: -7.19%
• DSCR: 0.68
• 1% rule: 0.78%
• Cash to close: $110,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $395k.
• At list price, monthly cash flow is $-663 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $278k (29.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $308k (22.0% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $278k (29.6% below list) — sets the bar for cash-flow.
• In year one you build about $42k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• Location reads 79/100 on livability (#135 in FL, #2,039 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living C-, amenities F, commute 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: H. L. Johnson Elementary School (math 70% / reading 69%, grade A-, #364 of 2,144 statewide, top 19%, 817 students, 40% FRL); Crestwood Community Middle (math 49% / reading 52%, grade C, #246 of 571 statewide, top 44%, 724 students, 50% FRL); Royal Palm Beach High School (math 22% / reading 38%, grade F, #441 of 667 statewide, top 67%, 2,343 students, 57% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: Rents flat; 583 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); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $113k; list at $395k implies a 250% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$68k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 40% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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?
• 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.
• 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.
• 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.