1500 N Congress Ave Unit B53 · West Palm Beach, FL 33401

$149,500

1 bd · 1.0 ba · 625 sqft · Condo public records · 387 Days on market

Built 1980

---

Why this score? — see what drove the B 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 +28.5/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 1/1 in great community. New counters, cabinets, baths, carpet, and paint. Move in ready or great for an investment! Call Henry at 561-848-5664

Key facts

• Parking
• Community pool
• Built 1980

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee (includes association management and trash); Association amenities include a pool

Exterior

• Parking: Assigned parking (1 space)
• Security: Fenced complex
• Home design: Attached property; 2-story building; Entry on level 1
• Construction: Block construction; Resale property
• Exterior features: Complex is fenced; Association-managed pool

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds; First-floor entry; Combined living/dining room; Unfurnished

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 $489 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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 rising fast (+5.2%/yr); 506 active listings in the ZIP; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 43% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 387 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $62k; list at $150k implies a 143% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $131,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 387 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
8. 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.
9. 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: 10.22%
• Cash-on-cash: 14.02%
• DSCR: 1.62
• GRM: 5.1

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: 7.5%
• Equity multiple: 1.30×
• Total profit: $12,661
• Equity at exit: $22,291

10-year hold

• IRR: 19.1%
• Equity multiple: 2.81×
• Total profit: $75,649
• Equity at exit: $12,926

Cash invested: $41,860 (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: 5.1×

Monthly cashflow live

• Estimated rent: $2,460 medium
• Mortgage (P&I): −$784
• Tax from tax record: −$203 /mo · $2,431/yr
• Insurance: −$62
• HOA est. from 2 same-building comps: −$405
• Vacancy / Maint / Mgmt: −$517
• Net cashflow: $489

Break-even live

Break-even rent $1,840

Max offer price $149,500

Occupancy floor 75%

Sensitivity live

Price	-10% $574	-5% $531	+0% $489	+5% $447	+10% $405
Rent	-10% $295	-5% $392	+0% $489	+5% $586	+10% $683
Rate	-1.0pp $564	-0.5pp $527	base $489	+0.5pp $450	+1.0pp $411

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: $37,375
• Closing costs: $4,485
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $149,500 Active 387 DOM
2. 2026-06-17
   days on market $149,500 Active 386 DOM
3. 2026-06-16
   days on market $149,500 Active 385 DOM
4. 2026-06-15
   days on market $149,500 Active 384 DOM
5. 2026-06-13
   days on market $149,500 Active 382 DOM
6. 2026-06-09
   days on market $149,500 Active 378 DOM
7. 2026-06-07
   days on market $149,500 Active 376 DOM
8. 2026-06-04
   days on market $149,500 Active 373 DOM
9. 2026-06-03
   days on market $149,500 Active 372 DOM
10. 2026-06-01
    days on market $149,500 Active 370 DOM
11. 2026-05-31
    days on market $149,500 Active 369 DOM
12. 2026-03-17
    price $149,500
13. 2025-09-16
    price $155,000
14. 2025-05-27
    listed $160,000 Active
15. 2017-04-04
    soldstatus $61,500
16. 2016-05-24
    soldstatus $28,500
17. 2010-11-15
    soldstatus $25,000 152-char remark

    Show marketing remark (152 chars)

    Spacious 1/1 in great community. New counters, cabinets, baths, carpet, and paint. Move in ready or great for an investment! Call Henry at 561-848-5664

18. 1992-05-22
    soldstatus $29,000
19. 1987-08-01
    soldstatus $1,600,000

ⓘ 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: $2,431 · $203/mo
• Projected year-2 tax: $2,431 · $203/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 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,515
• − Mortgage interest: −$8,374
• − Property taxes: −$2,431
• − Insurance: −$748
• − Repairs & maintenance: −$2,361
• − Management: −$2,361
• − HOA: −$4,860
• − Depreciation: −$4,349
• Taxable income: $4,030
• Est. tax owed @ 24.0%: −$967
• After-tax cash flow: $4,903/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

-90.7% since first listed

8 events — show timeline

• 2026-03-17 Price Changed $149,500 MARMLS
• 2025-09-16 Price Changed $155,000 MARMLS
• 2025-05-27 Listed $160,000 MARMLS
• 2017-04-04 Sold (Public Records) $61,500 Public Records
• 2016-05-24 Sold (Public Records) $28,500 Public Records
• 2010-11-15 Sold (MLS) $25,000 MARMLS
• 1992-05-22 Sold (Public Records) $29,000 Public Records
• 1987-08-01 Sold (Public Records) $1,600,000 Public Records

Property tax history

+10.8%/yr

Latest (2025): $2,431 · +5.9% YoY. Source: county tax records.