1605 S Us Highway 1 Unit D105

Jupiter, FL 33477

$280,000D

1 bd · 1.5 ba · 860 sqft · Built 1982 · Condo · Active · 135 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,215/mo
• Mortgage (P&I): −$1,468
• Tax + insurance: −$405
• HOA: −$1,092
• Vac / Maint / Mgmt: −$675
• Net cashflow: $-426/mo
• Annual: $-5,107/yr
• Cap rate: 4.75%
• Cash-on-cash: -5.50%
• DSCR: 0.76
• 1% rule: 1.15%
• Cash to close: $78,400

Investor read

• This is a 1-bed/1.5-bath condo listed at $280k.
• At list price, monthly cash flow is $-426 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (26.9% below list).
• Meets the 1% rule at list price ($3k rent vs $280k).
• It's been on market 135 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $205k (26.9% below list) — sets the bar for cash-flow.
• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (2.9% local appreciation)).
• Location reads 70/100 on livability (#415 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing 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: Beacon Cove Intermediate School (math 84% / reading 86%, grade A+, #35 of 2,144 statewide, top 2%, 641 students, 19% FRL); Jupiter Middle School (math 62% / reading 63%, grade B+, #116 of 571 statewide, top 21%, 1,384 students, 38% FRL); Jupiter High School (math 56% / reading 64%, grade C+, #106 of 667 statewide, top 16%, 3,087 students, 28% FRL) — zoned schools average 28% FRL vs 52% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 69% at this address vs 50% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Palm Beach average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: flood insurance adds $66/mo; HOA is 34% of rent.
• Market conditions: Rents rising fast (+10.3%/yr); 338 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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.
• 7 sale attempts since 20y ago; this cycle's ask has dropped $42k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $204k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• It's been on market 135 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?