616 Clearwater Park Rd #1107 · West Palm Beach, FL 33401

$325,000

1 bd · 1.0 ba · 696 sqft · Condo public records · 50 Days on market

Built 2003 $766/mo HOA · 22% of rent

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Why this score? — see what drove the D- 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 +8.8/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Unit 1107 at Montecito, one of the most affordable condo buildings in Downtown West Palm Beach with an affordable HOA fee. This updated 1 bedroom, 1 bathroom condo features a bright open layout, travertine floors, modern finishes, and an in-unit washer and dryer. Located on the 11th floor, it offers a private balcony with beautiful east-facing skyline views and garage parking. Montecito offers resort-style amenities and allows owners to rent right away, making it ideal for investors or end users. Minutes to City Place, Clematis, Brightline, I-95, and the Intracoastal.

Key facts

• Updated apartment
• Near brightline
• Near downtown

Tags

• EAST-VIEW RESIDENCE
• UPDATED APARTMENT
• NEAR BRIGHTLINE
• NEAR DOWNTOWN
• NEAR AREA BEACHES
• NEAR INTERSTATE 95

Property features AI

Finance

• Financial info: Pets allowed with breed, number, and size restrictions
• HOA & community: Association: Montecito Palm Beach Condominium Association, Inc.; Monthly HOA fee; Association amenities include pool, fitness center, spa/hot tub, sauna, billiard room, game room, business center, community room, library, lobby, elevator(s), manager on site, parking, bike storage, picnic area, sidewalks, street lights, security, recreation facilities, trash chute, and management; HOA covers maintenance of grounds, security, sewer, trash, water, common areas, elevator, and recreation facility

Exterior

• Parking: Attached 1-car garage; Covered parking space
• Security: Fire alarm; Attended lobby
• Utilities: Public water; Public sewer; Electricity connected (Three Phase); Sewer connected; Water connected
• Home design: Condominium; One level; Faces east
• Construction: Concrete construction; Other roof
• Exterior features: No waterfront; Entry-level access

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Marble; Tile; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Unfurnished; Sliding windows; Entry level living area
• Laundry & utility: Laundry closet inside; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $325k.

Deal economics

• At list price, monthly cash flow is $-269 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $277k (14.6% below list).
• Meets the 1% rule at list price ($3k rent vs $325k).
• Recommended offer: $277k (14.6% below list) — sets the bar for cash-flow.
• Cap rate 5.3% 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: Roosevelt Elementary School (math 22% / reading 22%, grade F, #2,080 of 2,144 statewide, top 97%, 324 students, 86% 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 77% FRL vs 52% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 50% district-wide (-26 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); 506 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 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 $10k 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 50 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $215k; list at $325k implies a 51% 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 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $277,497 (14.6% below list)

Questions for the listing agent

1. 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?
2. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.05% ✓
• Cap rate: 5.30%
• Cash-on-cash: -3.55%
• DSCR: 0.84
• GRM: 7.9

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: -18.9%
• Equity multiple: 0.32×
• Total profit: $-61,751
• Equity at exit: $48,459

10-year hold

• IRR: -6.3%
• Equity multiple: 0.54×
• Total profit: $-41,462
• Equity at exit: $28,100

Cash invested: $91,000 (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: 506
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $3,415 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$361 /mo · $4,330/yr
• Insurance: −$135
• HOA: −$766
• Vacancy / Maint / Mgmt: −$717
• Net cashflow: $-269

Break-even live

Break-even rent $3,755

Max offer price $277,497

Occupancy floor —

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	731	$4,365	$5.97	11d	16	0.19mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	727	$3,414	$4.70	24d	19	0.19mi
651 Okeechobee Blvd West Palm Beach, FL	1.0–2.0	1.0–2.5	887	$3,000	$3.38	14d	5	0.36mi
591 Evernia St West Palm Beach, FL	2.0	1.0–2.0	943	$4,270	$4.53	3d	26	0.41mi
480 Hibiscus St West Palm Beach, FL	1.0–2.0	1.0–2.0	867	$3,600	$4.15	3d	4	0.52mi
480 Hibiscus St West Palm Beach, FL	1.0–2.0	1.5–2.0	885	$3,495	$3.95	24d	3	0.52mi
499 Evernia St West Palm Beach, FL	2.0	1.0–2.0	827	$3,198	$3.87	2d	26	0.59mi
333 Fern St West Palm Beach, FL	2.0	1.0–2.0	1121	$3,974	$3.54	2d	1	0.62mi
1710 N Congress Ave West Palm Beach, FL	1.0–3.0	1.0–2.0	1210	$2,495	$2.06	24d	4	0.62mi
255 Evernia St #1421 West Palm Beach, FL	1.0	1.0	666	$3,000	$4.50	11d	1	0.75mi
345 Banyan Blvd West Palm Beach, FL	3.0	1.0–2.0	1023	$4,017	$3.92	1d	19	0.75mi
1050 Blanche St West Palm Beach, FL	2.0	1.0–2.0	740	$2,838	$3.83	2d	8	0.82mi
290 N Olive Ave West Palm Beach, FL	2.0	1.0–2.0	870	$3,976	$4.57	2d	20	0.82mi
805 N Olive Ave West Palm Beach, FL	1.0–2.0	1.0–2.0	852	$2,473	$2.90	3d	15	0.95mi
740 N Dixie Hwy West Palm Beach, FL	1.0	1.0	679	$3,187	$4.69	2d	5	0.95mi
1500 Centrepark Blvd West Palm Beach, FL	2.0	1.0–2.0	862	$2,624	$3.04	1d	18	1.21mi
44 Cocoanut Row Unit 610A Palm Beach, FL	1.0	1.0	540	$11,000	$20.37	24d	1	1.31mi
424 Chilean Ave Unit 4 Palm Beach, FL	2.0	2.0	750	$6,500	$8.67	17d	1	1.37mi
424 Chilean Ave Unit 4 Palm Beach, FL	2.0	2.0	750	$6,500	$8.67	15d	1	1.37mi
401 Peruvian Ave #3020 Palm Beach, FL	1.0	1.0	595	$11,500	$19.33	24d	1	1.42mi

HOA detail condo

• Monthly dues: $766 · $9,192/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $325,000 Active 50 DOM
2. 2026-06-17
   days on market $325,000 Active 49 DOM
3. 2026-06-16
   days on market $325,000 Active 48 DOM
4. 2026-06-15
   days on market $325,000 Active 47 DOM
5. 2026-06-13
   days on market $325,000 Active 45 DOM
6. 2026-06-09
   days on market $325,000 Active 41 DOM
7. 2026-06-08
   days on market $325,000 Active 40 DOM
8. 2026-06-07
   days on market $325,000 Active 39 DOM
9. 2026-06-04
   days on market $325,000 Active 36 DOM
10. 2026-06-03
    days on market $325,000 Active 35 DOM
11. 2026-06-02
    days on market $325,000 Active 34 DOM
12. 2026-06-01
    days on market $325,000 Active 33 DOM
13. 2026-05-31
    days on market $325,000 Active 32 DOM
14. 2026-04-29
    listed $325,000 Active
15. 2026-01-15
    soldstatus $215,000
16. 2026-01-12
    soldstatus $215,000 Closed 585-char remark

    Show marketing remark (585 chars)

    Welcome to Unit 1107 at Montecito, one of the most affordable condo buildings in Downtown West Palm Beach with an affordable HOA fee. This updated 1 bedroom, 1 bathroom condo features a bright open layout, travertine floors, modern finishes, and an in-unit washer and dryer. Located on the 11th floor, it offers a private balcony with beautiful east-facing skyline views and garage parking. Montecito offers resort-style amenities and allows owners to rent right away, making it ideal for investors or end users. Minutes to City Place, Clematis, Brightline, I-95, and the Intracoastal.

17. 2025-10-26
    listed $240,000 Active 585-char remark

    Show marketing remark (585 chars)

    Welcome to Unit 1107 at Montecito, one of the most affordable condo buildings in Downtown West Palm Beach with an affordable HOA fee. This updated 1 bedroom, 1 bathroom condo features a bright open layout, travertine floors, modern finishes, and an in-unit washer and dryer. Located on the 11th floor, it offers a private balcony with beautiful east-facing skyline views and garage parking. Montecito offers resort-style amenities and allows owners to rent right away, making it ideal for investors or end users. Minutes to City Place, Clematis, Brightline, I-95, and the Intracoastal.

18. 2019-12-10
    historical
19. 2019-10-01
    price $150,000
20. 2019-07-06
    listed $170,000 Active

ⓘ 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: $4,330 · $361/mo
• Projected year-2 tax: $4,330 · $361/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 7 d/yr ≥105°F today · 24 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: $40,977
• − Mortgage interest: −$18,205
• − Property taxes: −$4,330
• − Insurance: −$1,625
• − Repairs & maintenance: −$3,278
• − Management: −$3,278
• − HOA: −$9,192
• − Depreciation: −$9,455
• Taxable loss: −$8,386
• Est. tax savings @ 24.0%: +$2,013
• After-tax cash flow: $-1,214/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

+91.2% since first listed

7 events — show timeline

• 2026-04-29 Listed $325,000 Beaches MLS
• 2026-01-15 Sold (Public Records) $215,000 Public Records
• 2026-01-12 Sold (MLS) $215,000 Beaches MLS
• 2025-10-26 Listed $240,000 Beaches MLS
• 2019-12-10 Listing Removed — Beaches MLS
• 2019-10-01 Price Changed $150,000 Beaches MLS
• 2019-07-06 Listed $170,000 Beaches MLS

Property tax history

+8.1%/yr

Latest (2025): $4,330 · +4.4% YoY. Source: county tax records.