5321 53rd Way #5321 · West Palm Beach, FL 33409

$224,900

2 bd · 2.5 ba · 1,236 sqft · Townhouse public records

Built 1985 Est $230k · at est. $500/mo HOA · 17% 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 +16.4/30.0
• ARV discount +8.5/15.0
• 1% rule +8.3/10.0
• DSCR +5.1/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated unit with shaded view. Parking at your door. Cove molding, indirect lighting LR/Kit. New vertical blinds. Plantation shutters upstairs. Current fridge works but makes noise. Other appliances newer. Range has double oven. Microwave, Granite counters. 2 of 3 baths renovated. Downstairs fully tiled with wood-look ceramic/porcelain tile, upstairs carpeted. Courtyard Entrance freshly painted. Shows very well. SMALL PICKUP NON-COMM. TRUCK OK PER MGMT. 1 pet per updated Rules/Regs attached and a list of non-allowed dogs. Owner has pd spec assess for new fence. Appl attached. Easy show! ORCHID ON PATIO WILL BE PROFESSIONALLY REMOVED. All else stays. Room sizes approx. Please verify if exact measurement required. Sold AS IS LA has all the documents provided by the management company and too many to include here. LA can forward as attachment upon request. Thanks for reading this far!

Key facts

• $500 HOA
• Built 1985

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $225k.

Deal economics

• At list price, monthly cash flow is $126 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Cap rate 7.0% 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.
• Market conditions: Rents soft (-0.1%/yr); 189 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• At $2,987/mo this rent would consume 53% of the median local household income ($67k/yr) (locally 1333% 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 $7k 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

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $173k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $224,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 1.33% ✓
• Cap rate: 6.97%
• Cash-on-cash: 2.41%
• DSCR: 1.11
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $229,896
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6606 66th Way	0.33mi	2/2.5	1,236 (0%)	9mo	$230,000	$186	78

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.1%
• Equity multiple: 0.42×
• Total profit: $-36,689
• Equity at exit: $33,533

10-year hold

• IRR: -20.0%
• Equity multiple: 0.15×
• Total profit: $-53,537
• Equity at exit: $19,445

Cash invested: $62,972 (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 33409

• Home prices YoY: -25.6%
• Rents YoY: -0.1%
• Active inventory: 189
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,987 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$460 /mo · $5,521/yr
• Insurance: −$94
• HOA: −$500
• Vacancy / Maint / Mgmt: −$627
• Net cashflow: $126

Break-even live

Break-even rent $2,827

Max offer price $224,900

Occupancy floor 91%

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3590 Village Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1074	$2,798	$2.60	1d	29	0.54mi
195 River Grove Way West Palm Beach, FL	2.0	1.0–2.0	828	$3,002	$3.63	2d	18	0.68mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$2,528	$2.07	17d	60	0.85mi
2400 Presidential Way #1906 West Palm Beach, FL	1.0	2.0	1294	$3,000	$2.32	24d	1	0.98mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	24d	1	1.00mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	24d	1	1.07mi
1991 Presidential Way West Palm Beach, FL	1.0	1.0	827	$3,427	$4.14	7d	1	1.08mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	16d	1	1.08mi
5649 Mentmore Dr Riviera Beach, FL	3.0	2.5	1450	$2,900	$2.00	24d	1	1.20mi
4385 Willow Brook Cir West Palm Beach, FL	3.0	2.0	1468	$3,200	$2.18	22d	1	1.25mi
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	24d	1	1.29mi
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	24d	1	1.30mi

HOA detail

• Monthly dues: $500 · $6,000/yr

Listing history 11 events

1. 2026-01-24
   historical
2. 2025-02-01
   listed $224,900
3. 2020-01-04
   soldstatus $172,900
4. 2019-12-20
   soldstatus $172,900 Closed 906-char remark

   Show marketing remark (906 chars)

   Beautifully updated unit with shaded view. Parking at your door. Cove molding, indirect lighting LR/Kit. New vertical blinds. Plantation shutters upstairs. Current fridge works but makes noise. Other appliances newer. Range has double oven. Microwave, Granite counters. 2 of 3 baths renovated. Downstairs fully tiled with wood-look ceramic/porcelain tile, upstairs carpeted. Courtyard Entrance freshly painted. Shows very well. SMALL PICKUP NON-COMM. TRUCK OK PER MGMT. 1 pet per updated Rules/Regs attached and a list of non-allowed dogs. Owner has pd spec assess for new fence. Appl attached. Easy show! ORCHID ON PATIO WILL BE PROFESSIONALLY REMOVED. All else stays. Room sizes approx. Please verify if exact measurement required. Sold AS IS LA has all the documents provided by the management company and too many to include here. LA can forward as attachment upon request. Thanks for reading this far!

5. 2019-12-01
   status Pending 906-char remark

   Show marketing remark (906 chars)

   Beautifully updated unit with shaded view. Parking at your door. Cove molding, indirect lighting LR/Kit. New vertical blinds. Plantation shutters upstairs. Current fridge works but makes noise. Other appliances newer. Range has double oven. Microwave, Granite counters. 2 of 3 baths renovated. Downstairs fully tiled with wood-look ceramic/porcelain tile, upstairs carpeted. Courtyard Entrance freshly painted. Shows very well. SMALL PICKUP NON-COMM. TRUCK OK PER MGMT. 1 pet per updated Rules/Regs attached and a list of non-allowed dogs. Owner has pd spec assess for new fence. Appl attached. Easy show! ORCHID ON PATIO WILL BE PROFESSIONALLY REMOVED. All else stays. Room sizes approx. Please verify if exact measurement required. Sold AS IS LA has all the documents provided by the management company and too many to include here. LA can forward as attachment upon request. Thanks for reading this far!

6. 2019-11-16
   historical Active Under Contract 906-char remark

   Show marketing remark (906 chars)

   Beautifully updated unit with shaded view. Parking at your door. Cove molding, indirect lighting LR/Kit. New vertical blinds. Plantation shutters upstairs. Current fridge works but makes noise. Other appliances newer. Range has double oven. Microwave, Granite counters. 2 of 3 baths renovated. Downstairs fully tiled with wood-look ceramic/porcelain tile, upstairs carpeted. Courtyard Entrance freshly painted. Shows very well. SMALL PICKUP NON-COMM. TRUCK OK PER MGMT. 1 pet per updated Rules/Regs attached and a list of non-allowed dogs. Owner has pd spec assess for new fence. Appl attached. Easy show! ORCHID ON PATIO WILL BE PROFESSIONALLY REMOVED. All else stays. Room sizes approx. Please verify if exact measurement required. Sold AS IS LA has all the documents provided by the management company and too many to include here. LA can forward as attachment upon request. Thanks for reading this far!

7. 2019-11-13
   price $172,900 906-char remark

   Show marketing remark (906 chars)

   Beautifully updated unit with shaded view. Parking at your door. Cove molding, indirect lighting LR/Kit. New vertical blinds. Plantation shutters upstairs. Current fridge works but makes noise. Other appliances newer. Range has double oven. Microwave, Granite counters. 2 of 3 baths renovated. Downstairs fully tiled with wood-look ceramic/porcelain tile, upstairs carpeted. Courtyard Entrance freshly painted. Shows very well. SMALL PICKUP NON-COMM. TRUCK OK PER MGMT. 1 pet per updated Rules/Regs attached and a list of non-allowed dogs. Owner has pd spec assess for new fence. Appl attached. Easy show! ORCHID ON PATIO WILL BE PROFESSIONALLY REMOVED. All else stays. Room sizes approx. Please verify if exact measurement required. Sold AS IS LA has all the documents provided by the management company and too many to include here. LA can forward as attachment upon request. Thanks for reading this far!

8. 2019-10-29
   price $179,900 906-char remark

   Show marketing remark (906 chars)

   Beautifully updated unit with shaded view. Parking at your door. Cove molding, indirect lighting LR/Kit. New vertical blinds. Plantation shutters upstairs. Current fridge works but makes noise. Other appliances newer. Range has double oven. Microwave, Granite counters. 2 of 3 baths renovated. Downstairs fully tiled with wood-look ceramic/porcelain tile, upstairs carpeted. Courtyard Entrance freshly painted. Shows very well. SMALL PICKUP NON-COMM. TRUCK OK PER MGMT. 1 pet per updated Rules/Regs attached and a list of non-allowed dogs. Owner has pd spec assess for new fence. Appl attached. Easy show! ORCHID ON PATIO WILL BE PROFESSIONALLY REMOVED. All else stays. Room sizes approx. Please verify if exact measurement required. Sold AS IS LA has all the documents provided by the management company and too many to include here. LA can forward as attachment upon request. Thanks for reading this far!

9. 2019-10-11
   price $184,900 906-char remark

   Show marketing remark (906 chars)

   Beautifully updated unit with shaded view. Parking at your door. Cove molding, indirect lighting LR/Kit. New vertical blinds. Plantation shutters upstairs. Current fridge works but makes noise. Other appliances newer. Range has double oven. Microwave, Granite counters. 2 of 3 baths renovated. Downstairs fully tiled with wood-look ceramic/porcelain tile, upstairs carpeted. Courtyard Entrance freshly painted. Shows very well. SMALL PICKUP NON-COMM. TRUCK OK PER MGMT. 1 pet per updated Rules/Regs attached and a list of non-allowed dogs. Owner has pd spec assess for new fence. Appl attached. Easy show! ORCHID ON PATIO WILL BE PROFESSIONALLY REMOVED. All else stays. Room sizes approx. Please verify if exact measurement required. Sold AS IS LA has all the documents provided by the management company and too many to include here. LA can forward as attachment upon request. Thanks for reading this far!

10. 2019-09-19
    listed $189,900 Active 906-char remark

    Show marketing remark (906 chars)

    Beautifully updated unit with shaded view. Parking at your door. Cove molding, indirect lighting LR/Kit. New vertical blinds. Plantation shutters upstairs. Current fridge works but makes noise. Other appliances newer. Range has double oven. Microwave, Granite counters. 2 of 3 baths renovated. Downstairs fully tiled with wood-look ceramic/porcelain tile, upstairs carpeted. Courtyard Entrance freshly painted. Shows very well. SMALL PICKUP NON-COMM. TRUCK OK PER MGMT. 1 pet per updated Rules/Regs attached and a list of non-allowed dogs. Owner has pd spec assess for new fence. Appl attached. Easy show! ORCHID ON PATIO WILL BE PROFESSIONALLY REMOVED. All else stays. Room sizes approx. Please verify if exact measurement required. Sold AS IS LA has all the documents provided by the management company and too many to include here. LA can forward as attachment upon request. Thanks for reading this far!

11. 1985-04-01
    soldstatus $55,900

ⓘ 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: $5,521 · $460/mo
• Projected year-2 tax: $5,521 · $460/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 5 d/yr ≥105°F today · 17 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: $35,840
• − Mortgage interest: −$12,598
• − Property taxes: −$5,521
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,867
• − Management: −$2,867
• − HOA: −$6,000
• − Depreciation: −$6,543
• Taxable loss: −$1,680
• Est. tax savings @ 24.0%: +$403
• After-tax cash flow: $1,919/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): 33,489
• Household income: $67,073
• Rent vs Own: 55.3% rent · 44.7% own
• Severe rent burden: 1333.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 36% Black 31% White 27% Two or more races 21% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 8% Dominican 1%
• Common ancestry: Hispanic 8% Romanian 1% Lithuanian 1%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 55% English-only · Spanish 30% French/Haitian/Cajun 10% Other Indo-European 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: ▼ -128.54%
• Current HPI: 374.2506
• Rent YoY: ▼ -0.15%
• 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

+302.3% since first listed

11 events — show timeline

• 2026-01-24 Listing Removed — Beaches MLS
• 2025-02-01 Listed $224,900 Beaches MLS
• 2020-01-04 Sold (Public Records) $172,900 Public Records
• 2019-12-20 Sold (MLS) $172,900 Beaches MLS
• 2019-12-01 Pending — Beaches MLS
• 2019-11-16 Contingent — Beaches MLS
• 2019-11-13 Price Changed $172,900 Beaches MLS
• 2019-10-29 Price Changed $179,900 Beaches MLS
• 2019-10-11 Price Changed $184,900 Beaches MLS
• 2019-09-19 Listed $189,900 Beaches MLS
• 1985-04-01 Sold (Public Records) $55,900 Public Records

Property tax history

+14.0%/yr

Latest (2025): $5,521 · +3.9% YoY. Source: county tax records.