121 Wettaw Ln #211 · North Palm Beach, FL 33408

$289,000

2 bd · 2.0 ba · 962 sqft · Condo public records · 213 Days on market

Built 1969 $756/mo HOA · 19% 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 +23.1/30.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Boaters Dream!! Ocean Acess and NO Fixed Bridges, just minutes from the PB Inlet. 2 bed/2 bath Waterfront Condo in NPB with unobstructed Water Views in this Intracoastal Waterfront Community!! Enjoy the balmy breezes & spectacular Sunrises and Moonrises! This Light & Bright condo has Impact Windows and accordon shutters, New Sliders, beautiful Laminate Wood Floors, Smooth Ceilings & Crown Molding. Updated kitchen w/ newer cabinets, granite countertops & a pantry. New AC (2024) New Electrical Panel (2023) Roof 2016. Enjoy peaceful water views from your private & spacious screened-in Lanai right off your living room and master suite!! Master suite has a large wa

Key facts

• $756 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets allowed with possible restrictions and size/number limits
• HOA & community: Association amenities include boating, laundry, parking and pool; HOA fee paid monthly (fee listed separately)

Exterior

• Parking: Assigned parking and guest parking; 1 open parking space
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric service; Cable available; Electricity available; Sewer available; Water available
• Home design: Condominium; Multi/split levels; Entry level living area; Faces south; 2 total stories
• Construction: Concrete construction; Metal/mixed roof
• Exterior features: Screened patio; Patio; Porch; Glass-enclosed porch; Located on a cul-de-sac; Sidewalks; Ocean access and intracoastal waterfront with no fixed bridge

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Walk-in closets; Bedroom layout is split; Blinds and sliding storm windows
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $289k.

Deal economics

• At list price, monthly cash flow is $451 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $289k).
• Recommended offer: $254k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#184 in FL, #2,894 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living D-.
• 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: Lake Park Elementary School (math 57% / reading 62%, grade B-, #690 of 2,144 statewide, top 34%, 389 students, 83% FRL); Howell L. Watkins Middle School (math 18% / reading 33%, grade F, #512 of 571 statewide, top 90%, 794 students, 76% FRL); Palm Beach Gardens High School (math 19% / reading 40%, grade F, #447 of 667 statewide, top 68%, 2,570 students, 61% FRL) — zoned schools average 74% FRL vs 52% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 403 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $4,065/mo this rent would consume 53% of the median local household income ($92k/yr) (locally 835% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 213 days — a 12% lower offer ($254k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $254,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 213 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 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 8.44%
• Cash-on-cash: 7.67%
• DSCR: 1.34
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.27% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.65×
• Total profit: $-28,455
• Equity at exit: $43,091

10-year hold

• IRR: -6.4%
• Equity multiple: 0.66×
• Total profit: $-27,880
• Equity at exit: $24,987

Cash invested: $80,920 (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 33408

• Rents YoY: 0.3%
• Active inventory: 403
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $4,065 high
• Mortgage (P&I): −$1,516
• Tax from tax record: −$302 /mo · $3,624/yr
• Insurance: −$120
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$756
• Vacancy / Maint / Mgmt: −$854
• Net cashflow: $451

Break-even live

Break-even rent $3,494

Max offer price $289,000

Occupancy floor 84%

Sensitivity live

Price	-10% $614	-5% $533	+0% $451	+5% $369	+10% $287
Rent	-10% $130	-5% $290	+0% $451	+5% $611	+10% $772
Rate	-1.0pp $596	-0.5pp $524	base $451	+0.5pp $376	+1.0pp $300

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
913 Lake Shore Dr Lake Park, FL	1.0–2.0	1.0–2.0	1066	$3,731	$3.50	0d	10	0.33mi
522 Eastwind Dr North Palm Beach, FL	2.0	2.0	948	$3,995	$4.21	25d	1	0.52mi
524 Eastwind Dr Unit 524 North Palm Beach, FL	2.0	1.0	774	$3,995	$5.16	25d	1	0.52mi
526 Eastwind Dr Unit 526 North Palm Beach, FL	2.0	1.0	840	$3,995	$4.76	25d	1	0.52mi
220 Lake Shore Dr Lake Park, FL	1.0–3.0	1.5–3.5	2134	$14,498	$6.79	0d	19	0.82mi
308 Southwind Ct Unit 8 North Palm Beach, FL	2.0	2.0	1100	$2,900	$2.64	25d	1	0.82mi
624 Southwind Cir #2 North Palm Beach, FL	2.0	2.0	718	$3,750	$5.22	25d	1	0.93mi
5400 N Ocean Dr Riviera Beach, FL	1.0–2.0	1.0–2.0	1300	$6,500	$5.00	23d	3	1.15mi
1025 Sugar Sands Blvd #159 Riviera Beach, FL	1.0	1.0	987	$4,200	$4.26	25d	1	1.33mi
901 W 37th St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	25d	1	1.35mi
410 Wilma Cir #103 Riviera Beach, FL	2.0	2.0	1056	$4,000	$3.79	16d	1	1.35mi
400 Wilma Cir #309 Riviera Beach, FL	1.0	1.0	818	$4,000	$4.89	6d	1	1.36mi
2545 Conroy Dr West Palm Beach, FL	3.0	2.0	1066	$3,295	$3.09	25d	1	1.37mi

HOA detail condo

• Monthly dues: $756 · $9,072/yr
• Likely covers: waterelectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-21
   days on market $289,000 Active 213 DOM
2. 2026-06-18
   days on market $289,000 Active 210 DOM
3. 2026-06-17
   days on market $289,000 Active 209 DOM
4. 2026-06-16
   days on market $289,000 Active 208 DOM
5. 2026-06-15
   days on market $289,000 Active 207 DOM
6. 2026-06-13
   days on market $289,000 Active 205 DOM
7. 2026-06-09
   days on market $289,000 Active 201 DOM
8. 2026-06-07
   days on market $289,000 Active 199 DOM
9. 2026-06-04
   days on market $289,000 Active 196 DOM
10. 2026-06-03
    days on market $289,000 Active 195 DOM
11. 2026-06-01
    days on market $289,000 Active 193 DOM
12. 2026-05-31
    days on market $289,000 Active 192 DOM
13. 2026-03-06
    price $289,000
14. 2025-11-20
    listed $298,000 Active
15. 2025-11-17
    historical $298,000
16. 2024-12-10
    historical
17. 2024-06-29
    listed $319,000 Active
18. 2024-06-28
    historical
19. 2014-10-18
    historical
20. 2010-07-05
    historical
21. 2008-07-10
    listed $279,000
22. 2006-01-12
    listed $309,900
23. 2005-04-05
    soldstatus $278,300
24. 2005-03-03
    soldstatus $200,000

ⓘ 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: $3,624 · $302/mo
• Projected year-2 tax: $3,624 · $302/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 7/10 Severe FEMA zone X (shaded) · 96% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 26 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: $48,778
• − Mortgage interest: −$16,188
• − Property taxes: −$3,624
• − Insurance: −$2,242
• − Repairs & maintenance: −$3,902
• − Management: −$3,902
• − HOA: −$9,072
• − Depreciation: −$8,407
• Taxable income: $1,440
• Est. tax owed @ 24.0%: −$346
• After-tax cash flow: $5,065/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 — North Palm Beach

• Score: 77/100
• State rank: #184
• US rank: #2894

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 18,817
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 18,817
• Household income: $92,216
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 835.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 7% Black 1% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 4% Slovak 3% Romanian 3%
• Foreign-born: 11% · Canada, Jamaica, Guatemala
• Languages at home: 89% English-only · Spanish 7% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -223.14%
• Current HPI: 365.2913
• Rent YoY: ▲ 0.27%
• 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

+44.5% since first listed

12 events — show timeline

• 2026-03-06 Price Changed $289,000 Beaches MLS
• 2025-11-20 Listed $298,000 Beaches MLS
• 2025-11-17 Coming Soon $298,000 Beaches MLS
• 2024-12-10 Listing Removed — Beaches MLS
• 2024-06-29 Listed $319,000 Beaches MLS
• 2024-06-28 Coming Soon — Beaches MLS
• 2014-10-18 Listing Removed — Beaches MLS
• 2010-07-05 Listing Removed — Beaches MLS
• 2008-07-10 Listed $279,000 Beaches MLS
• 2006-01-12 Listed $309,900 Beaches MLS
• 2005-04-05 Sold (Public Records) $278,300 Public Records
• 2005-03-03 Sold (Public Records) $200,000 Public Records

Property tax history

+11.0%/yr

Latest (2025): $3,624 · +246.4% YoY. Source: county tax records.