4001 S Ocean Blvd #315 · South Palm Beach, FL 33480

$150,000

1 bd · 1.0 ba · 584 sqft · Condo public records · 152 Days on market

Built 1958 $835/mo HOA · 34% of rent ↓ 25% since listing

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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 +15.0/30.0
• 1% rule +10.0/10.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Exceptional value describes this top-floor unit at Tropicana Gardens featuring a double balcony & a great Intracoastal view. Recent upgrades include impact windows & door, bathroom renovation, wall units in the living area & bedroom, lighting fixtures & fans & the refrigerator. Laminate flooring throughout the living area & bedroom; tile in the kitchen. The balcony really stands out & the floor plan is among the largest in the building. The unit is located in a prime location near the pool, overlooking the Intracoastal & Hypoluxo Island. The property comes with a large locker for extra storage. Tropicana Gardens features a heated pool on the I

Key facts

• $835 HOA
• Community pool
• Built 1958

Property features AI

Finance

• Other: Senior community
• Financial info: Community contains 65 units; Pets not allowed
• HOA & community: Has association; Monthly HOA includes insurance, grounds maintenance, pest control, trash, water, common areas and elevator; Association amenities: Elevator(s), laundry, parking, pool, storage, on-site manager, bike storage, community room, library; Monthly association fee

Exterior

• Parking: Assigned open parking
• Security: Smoke detectors; Security patrol
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Water and sewer available
• Home design: Condominium; Multi-level (multi/split); Entry level living area; Faces north; 3 total stories
• Construction: CBS construction; Composition and rolled/hot mop roofs; Built as resale property
• Exterior features: Intracoastal waterfront

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom on main level
• Flooring: Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Custom mirrors; Furnished
• Laundry & utility: Laundry available in building

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-380 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $83k (44.7% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $83k (44.7% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 72/100 on livability (#340 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: 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: Lantana Elementary School (math 30% / reading 33%, grade F, #1,841 of 2,144 statewide, top 86%, 484 students, 79% FRL); Lantana Middle School (math 21% / reading 36%, grade F, #482 of 571 statewide, top 85%, 801 students, 78% FRL); Lake Worth High School (math 16% / reading 27%, grade F, #546 of 667 statewide, top 82%, 2,683 students, 71% FRL) — zoned schools average 76% FRL vs 52% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 50% district-wide (-22 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 (+3.9%/yr); 447 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (5.1% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 152 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 34% of rent; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $82,928 (44.7% 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 152 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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.
10. 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.
11. 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: 1.65% ✓
• Cap rate: 6.67%
• Cash-on-cash: 1.34%
• DSCR: 1.06
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.12% appreciation · 3.92% rent growth · sell at horizon

5-year hold

• IRR: 5.3%
• Equity multiple: 1.35×
• Total profit: $14,520
• Equity at exit: $86,052

10-year hold

• IRR: 8.6%
• Equity multiple: 2.68×
• Total profit: $70,652
• Equity at exit: $149,389

Cash invested: $42,000 (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 33480

• Home prices YoY: 1.1%
• Rents YoY: 3.9%
• Active inventory: 447
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,472 high
• Mortgage (P&I): −$787
• Tax from tax record: −$222 /mo · $2,664/yr
• Insurance: −$62
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$835
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $-380

Break-even live

Break-even rent $2,953

Max offer price $82,928

Occupancy floor —

Sensitivity live

Price	-10% $-295	-5% $-337	+0% $-380	+5% $-422	+10% $-465
Rent	-10% $-575	-5% $-477	+0% $-380	+5% $-282	+10% $-184
Rate	-1.0pp $-304	-0.5pp $-342	base $-380	+0.5pp $-419	+1.0pp $-458

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4201 S Ocean Blvd Unit K2 Palm Beach, FL	1.0	1.5	714	$2,299	$3.22	9d	1	0.04mi
3500 S Ocean Blvd Palm Beach, FL	1.0	1.0	580	$1,950	$3.36	3d	3	0.44mi
301 Croton Ave #302 Lantana, FL	1.0	1.0	702	$1,900	$2.71	26d	1	0.59mi
315 N Lake Dr Unit 6 Lantana, FL	1.0	1.0	590	$1,495	$2.53	19d	1	0.67mi
200 Croton Ave Lantana, FL	1.0–2.0	1.0	695	$1,675	$2.41	17d	2	0.67mi
119 Sunrise Ave Unit A Lantana, FL	1.0	1.0	555	$2,400	$4.32	22d	1	0.70mi
115 E Lantana Rd Lantana, FL	1.0	1.0	600	$1,600	$2.67	12d	1	0.70mi
115 Palm St Unit 117 Lantana, FL	—	1.0	450	$1,600	$3.56	26d	1	0.70mi
115 Palm St Unit 117 Lantana, FL	1.0	1.0	450	$1,575	$3.50	20d	1	0.70mi
1502 S Lakeside Dr #302 Lake Worth Beach, FL	1.0	1.0	700	$1,200	$1.71	20d	1	0.92mi
1609 S Federal Hwy Apt 102 Lake Worth Beach, FL	1.0	1.0	672	$1,459	$2.17	26d	1	1.01mi
605 E Coast Ave Unit 2 Lantana, FL	—	1.0	360	$1,200	$3.33	1d	1	1.02mi
112 Milton St Unit 112 Lantana, FL	2.0	1.0	682	$2,300	$3.37	9d	1	1.04mi
112 Milton St Unit 112 Lantana, FL	2.0	1.0	682	$2,300	$3.37	26d	1	1.04mi
1100 S Lake Dr Unit 09 Lantana, FL	2.0	1.0	700	$1,750	$2.50	26d	1	1.04mi
601 Latona Ave Lake Worth Beach, FL	1.0	1.0	500	$1,895	$3.79	26d	1	1.05mi
525 S Broadway Unit M Lantana, FL	1.0	1.0	600	$1,575	$2.62	26d	1	1.14mi
612 W Drew St Unit E Lantana, FL	1.0	1.0	550	$1,900	$3.45	5d	1	1.21mi
1115 S Federal Hwy Unit 3 Lake Worth Beach, FL	1.0	1.0	600	$1,550	$2.58	26d	1	1.29mi
1100 S Broadway Lantana, FL	1.0	1.0	650	$1,650	$2.54	20d	1	1.31mi
1200 S Broadway Lantana, FL	1.0	1.0	642	$1,525	$2.38	9d	1	1.35mi
900 Water Tower Way Lantana, FL	1.0–2.0	1.0–2.0	1176	$2,118	$1.80	0d	19	1.36mi
1001 Water Tower Way Hypoluxo, FL	1.0–3.0	1.0–2.0	981	$1,897	$1.93	26d	25	1.38mi
1001 Water Tower Way Hypoluxo, FL	1.0–3.0	1.0–2.0	981	$1,934	$1.97	0d	24	1.38mi
1001 S Federal Hwy #1 Lake Worth Beach, FL	1.0	1.0	650	$1,995	$3.07	9d	1	1.38mi
928 S Federal Hwy Lake Worth, FL	1.0	1.0	700	$1,475	$2.11	1d	1	1.38mi
1001 S M St Unit 5 Lake Worth Beach, FL	1.0	1.0	600	$1,395	$2.33	24d	1	1.45mi
605 S 12th St Lantana, FL	2.0	1.0	700	$1,950	$2.79	5d	1	1.47mi
1101 S K St Unit 16 Lake Worth Beach, FL	1.0	1.0	600	$1,550	$2.58	26d	1	1.47mi

HOA detail condo

• Monthly dues: $835 · $10,020/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $150,000 Active 152 DOM
2. 2026-06-18
   days on market $150,000 Active 149 DOM
3. 2026-06-17
   days on market $150,000 Active 148 DOM
4. 2026-06-16
   days on market $150,000 Active 147 DOM
5. 2026-06-15
   days on market $150,000 Active 146 DOM
6. 2026-06-13
   days on market $150,000 Active 144 DOM
7. 2026-06-09
   days on market $150,000 Active 140 DOM
8. 2026-06-07
   days on market $150,000 Active 138 DOM
9. 2026-06-04
   days on market $150,000 Active 135 DOM
10. 2026-06-03
    days on market $150,000 Active 134 DOM
11. 2026-06-01
    days on market $150,000 Active 132 DOM
12. 2026-05-31
    days on market $150,000 Active 131 DOM
13. 2026-04-20
    price $150,000
14. 2026-03-12
    price $160,000
15. 2026-01-20
    listed $165,000 Active
16. 2026-01-20
    historical $165,000
17. 2025-06-25
    historical
18. 2025-03-02
    price $180,000
19. 2025-02-05
    price $190,000
20. 2025-01-07
    listed $200,000 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: $2,664 · $222/mo
• Projected year-2 tax: $2,664 · $222/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,665
• − Mortgage interest: −$8,402
• − Property taxes: −$2,664
• − Insurance: −$5,868
• − Repairs & maintenance: −$2,373
• − Management: −$2,373
• − HOA: −$10,020
• − Depreciation: −$4,364
• Taxable loss: −$6,400
• Est. tax savings @ 24.0%: +$1,536
• After-tax cash flow: $-3,020/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 — South Palm Beach

• Score: 72/100
• State rank: #340
• US rank: #5907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 10,924
• Household income: $150,633
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 213.0

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Cuban 1%
• Common ancestry: Scotch-Irish 7% Romanian 5% Italian 3%
• Foreign-born: 20% · Canada, Dominican Republic, China
• Languages at home: 84% English-only · Spanish 7% Other Indo-European 3% Russian/Polish/Slavic 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: ▲ 5.12%
• Current HPI: 464.2769
• Rent YoY: ▲ 3.92%
• 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

-25.0% since first listed

8 events — show timeline

• 2026-04-20 Price Changed $150,000 Beaches MLS
• 2026-03-12 Price Changed $160,000 Beaches MLS
• 2026-01-20 Listed $165,000 Beaches MLS
• 2026-01-20 Coming Soon $165,000 Beaches MLS
• 2025-06-25 Listing Removed — Beaches MLS
• 2025-03-02 Price Changed $180,000 Beaches MLS
• 2025-02-05 Price Changed $190,000 Beaches MLS
• 2025-01-07 Listed $200,000 Beaches MLS

Property tax history

+6.1%/yr

Latest (2025): $2,664 · +8.1% YoY. Source: county tax records.