3450 S Ocean Blvd #224 · Palm Beach, FL 33480

$310,000

1 bd · 1.5 ba · 1,008 sqft · Condo · 119 Days on market

Built 1971 $1378/mo HOA · 33% 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 +9.8/30.0
• 1% rule +8.6/10.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0

Listing remarks

Come see this amazing 1 bedroom condo located directly on the beach in Palm Beach! Sit on the balcony and enjoy views of the Intracoastal or take a stroll on the beach with your private beach access. This unit is one of a kind with updated kitchen, stainless steel appliances, laminate flooring and a custom built walk in closet. The unit has hurricane proof windows and is approved to install washer/dryer if you choose to. There are new washer/dryers on each floor in the common areas. Maintenance fees include cable, Wifi, water, building insurance , 24 hr doorman, 24 hr fitness center and more. . The building and pool were recently remodeled and are beautiful! You must come see this unit if y

Key facts

• $1,378 HOA
• Community pool
• Built 1971

Property features AI

Finance

• Financial info: No investor or income/expense details provided
• HOA & community: Building association with monthly HOA; Monthly association fee; Elevator(s); Fitness center; Pool; Lobby; Library; Trash chute; Laundry; Association includes cable TV, insurance, pest control, trash, water, elevator, hot water

Exterior

• Parking: No parking details provided
• Security: Security system
• Utilities: No utility information provided
• Home design: Condominium; 8-story building; Faces north; Resale property
• Construction: CBS construction
• Exterior features: Direct ocean frontage; Ocean access; Directly on sand; Intracoastal access

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: 1 bedroom on main level
• Flooring: Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet(s); Partially furnished; Storm windows
• Laundry & utility: Building laundry available

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $310k.

Deal economics

• At list price, monthly cash flow is $-198 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $281k (9.2% below list).
• Meets the 1% rule at list price ($4k rent vs $310k).
• Recommended offer: $281k (9.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 68/100 on livability (#530 in FL) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, crime A-; Watch: amenities F, commute F, cost of living 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 (+3.9%/yr); 447 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 34% of the median local income ($151k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $18k of equity ($2k loan paydown + $16k 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 3, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 13y ago; this cycle's ask has dropped $25k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $169k; list at $310k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $281,346 (9.2% 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 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
10. 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.
11. 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.
12. 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: 1.36% ✓
• Cap rate: 5.53%
• Cash-on-cash: -2.74%
• DSCR: 0.88
• GRM: 6.1

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: 11.7%
• Equity multiple: 1.76×
• Total profit: $65,715
• Equity at exit: $177,841

10-year hold

• IRR: 13.4%
• Equity multiple: 3.52×
• Total profit: $218,389
• Equity at exit: $308,736

Cash invested: $86,800 (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: 6.1×

Monthly cashflow live

• Estimated rent: $4,205 high
• Mortgage (P&I): −$1,626
• Tax est. 1.5%: −$388 /mo · $4,650/yr
• Insurance: −$129
• HOA: −$1,378
• Vacancy / Maint / Mgmt: −$883
• Net cashflow: $-198

Break-even live

Break-even rent $4,456

Max offer price $281,346

Occupancy floor 100%

Sensitivity live

Price	-10% $16	-5% $-91	+0% $-198	+5% $-305	+10% $-412
Rent	-10% $-530	-5% $-364	+0% $-198	+5% $-32	+10% $134
Rate	-1.0pp $-42	-0.5pp $-119	base $-198	+0.5pp $-278	+1.0pp $-360

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3456 S Ocean Blvd #105 Palm Beach, FL	2.0	2.0	1482	$12,000	$8.10	25d	1	0.02mi
3456 S Ocean Blvd #6050 Palm Beach, FL	2.0	2.0	1482	$4,650	$3.14	25d	1	0.02mi
3456 S Ocean Blvd Apt 705 Palm Beach, FL	2.0	2.0	1457	$3,500	$2.40	25d	1	0.03mi
3450 S Ocean Blvd #3280 Palm Beach, FL	1.0	1.0	952	$2,500	$2.63	25d	1	0.06mi
3450 S Ocean Blvd #8120 Palm Beach, FL	1.0	1.5	1008	$3,500	$3.47	25d	1	0.06mi
3450 S Ocean Blvd #4270 Palm Beach, FL	1.0	1.0	924	$3,250	$3.52	25d	1	0.06mi
3450 S Ocean Blvd #1050 Palm Beach, FL	1.0	1.0	952	$2,950	$3.10	25d	1	0.06mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$2,750	$2.22	8d	9	0.07mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$2,300	$1.86	4d	10	0.07mi
3460 S Ocean Blvd #4150 Palm Beach, FL	2.0	2.0	1436	$10,500	$7.31	25d	1	0.08mi
3475 S Ocean Blvd Palm Beach, FL	2.0	2.0	1395	$5,850	$4.19	25d	3	0.09mi
3475 S Ocean Blvd #3020 Palm Beach, FL	2.0	2.0	1395	$5,000	$3.58	25d	1	0.09mi
3475 S Ocean Blvd #6110 Palm Beach, FL	1.0	1.5	891	$3,500	$3.93	25d	1	0.09mi
3475 S Ocean Blvd #6150 Palm Beach, FL	2.0	2.0	1395	$8,750	$6.27	25d	1	0.09mi
3475 S Ocean Blvd #3110 Palm Beach, FL	1.0	1.5	891	$2,600	$2.92	25d	1	0.09mi
3475 S Ocean Blvd #1030 Palm Beach, FL	1.0	2.0	1395	$5,500	$3.94	4d	1	0.09mi
3440 S Ocean Blvd Unit 307N Palm Beach, FL	2.0	2.0	1457	$8,500	$5.83	25d	1	0.10mi
3500 S Ocean Blvd Palm Beach, FL	1.0	1.0	580	$1,950	$3.36	2d	3	0.14mi
3520 S Ocean Blvd Unit H404 Palm Beach, FL	2.0	2.0	1176	$5,900	$5.02	25d	1	0.20mi
3540 S Ocean Blvd Palm Beach, FL	1.0	2.0	983	$4,000	$4.07	25d	1	0.22mi
3540 S Ocean Blvd #608 Palm Beach, FL	2.0	2.0	983	$2,950	$3.00	25d	1	0.22mi
3540 S Ocean Blvd #208 Palm Beach, FL	2.0	2.0	983	$2,750	$2.80	5d	1	0.22mi
3540 S Ocean Blvd #612 Palm Beach, FL	2.0	2.0	983	$4,700	$4.78	8d	1	0.22mi
3540 S Ocean Blvd #309 Palm Beach, FL	1.0	1.5	785	$2,300	$2.93	6d	1	0.22mi
3540 S Ocean Blvd #216 Palm Beach, FL	2.0	2.0	983	$2,550	$2.59	23d	1	0.22mi
3540 S Ocean Blvd #310 Palm Beach, FL	1.0	1.5	785	$2,100	$2.68	8d	1	0.22mi
3540 S Ocean Blvd #309 Palm Beach, FL	1.0	1.5	785	$2,400	$3.06	6d	1	0.22mi
3560 S Ocean Blvd #502 Palm Beach, FL	2.0	2.0	1340	$9,500	$7.09	25d	1	0.33mi
3560 S Ocean Blvd #907 Palm Beach, FL	2.0	2.0	1340	$7,800	$5.82	12d	1	0.33mi
3560 S Ocean Blvd #306 Palm Beach, FL	2.0	2.0	1380	$7,000	$5.07	19d	1	0.33mi
3560 S Ocean Blvd #907 Palm Beach, FL	2.0	2.0	1340	$7,500	$5.60	12d	1	0.33mi
3560 S Ocean Blvd #706 Palm Beach, FL	2.0	2.0	1340	$12,000	$8.96	21d	1	0.33mi
3560 S Ocean Blvd #4 Palm Beach, FL	2.0	2.0	1340	$7,950	$5.93	25d	1	0.33mi
3580 S Ocean Blvd Unit 6B Palm Beach, FL	1.0	1.5	1013	$2,500	$2.47	16d	1	0.42mi
3581 S Ocean Blvd Unit 2B Palm Beach, FL	1.0	1.5	940	$2,900	$3.09	18d	1	0.44mi
3581 S Ocean Blvd Unit 9A Palm Beach, FL	2.0	2.0	1192	$2,600	$2.18	18d	1	0.44mi
3601 S Ocean Blvd Palm Beach, FL	2.0	2.5	1408	$2,900	$2.06	20d	2	0.51mi
3601 S Ocean Blvd #308 Palm Beach, FL	2.0	2.5	1408	$3,250	$2.31	19d	1	0.52mi
3610 S Ocean Blvd Palm Beach, FL	1.0–3.0	1.5–2.0	1490	$4,195	$2.81	25d	4	0.54mi
3250 S Ocean Blvd Unit 507N Palm Beach, FL	2.0	2.0	1478	$11,000	$7.44	25d	1	0.55mi

HOA detail condo

• Monthly dues: $1,378 · $16,536/yr
• Likely covers: waterinternetcableinsurancepoolgymdoorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-21
   days on market $310,000 Active 119 DOM
2. 2026-06-18
   days on market $310,000 Active 116 DOM
3. 2026-06-17
   days on market $310,000 Active 115 DOM
4. 2026-06-16
   days on market $310,000 Active 114 DOM
5. 2026-06-15
   days on market $310,000 Active 113 DOM
6. 2026-06-13
   days on market $310,000 Active 111 DOM
7. 2026-06-09
   days on market $310,000 Active 107 DOM
8. 2026-06-07
   days on market $310,000 Active 105 DOM
9. 2026-06-04
   days on market $310,000 Active 102 DOM
10. 2026-06-03
    days on market $310,000 Active 101 DOM
11. 2026-06-02
    days on market $310,000 Active 100 DOM
12. 2026-06-01
    days on market $310,000 Active 99 DOM
13. 2026-05-31
    days on market $310,000 Active 98 DOM
14. 2026-04-13
    price $310,000
15. 2026-02-22
    listed $335,000 Active
16. 2026-02-21
    historical $335,000
17. 2026-01-13
    historical
18. 2025-10-19
    historical $2,850
19. 2025-09-11
    price $2,850
20. 2025-08-22
    listed $2,999
21. 2025-08-13
    price $315,000
22. 2025-08-11
    historical $2,900
23. 2025-07-26
    listed $350,000 Active
24. 2025-07-07
    price $2,900
25. 2025-06-10
    price $3,200
26. 2025-05-27
    listed $3,500
27. 2024-08-10
    historical $3,250
28. 2024-07-20
    listed $3,250
29. 2024-07-02
    historical
30. 2024-06-07
    historical $2,800
31. 2024-05-28
    listed $2,800
32. 2024-05-14
    status Active
33. 2024-05-03
    historical $3,250
34. 2024-05-02
    historical
35. 2024-04-26
    price $429,000
36. 2024-04-17
    price $449,000
37. 2024-04-06
    listed $3,250
38. 2024-03-04
    historical $3,250
39. 2024-03-03
    listed $3,250
40. 2024-02-01
    listed $469,000 Active
41. 2024-01-31
    historical
42. 2018-11-16
    soldstatus $169,000 Closed
43. 2018-09-17
    historical Active Under Contract
44. 2018-09-05
    price $179,900
45. 2018-08-31
    price $225,000
46. 2018-08-22
    price $187,900
47. 2018-07-20
    price $189,900
48. 2018-05-15
    price $199,900
49. 2018-05-10
    price $204,900
50. 2018-04-22
    price $214,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 25 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: $50,466
• − Mortgage interest: −$17,365
• − Property taxes: −$4,650
• − Insurance: −$1,550
• − Repairs & maintenance: −$4,037
• − Management: −$4,037
• − HOA: −$16,536
• − Depreciation: −$9,018
• Taxable loss: −$6,728
• Est. tax savings @ 24.0%: +$1,615
• After-tax cash flow: $-762/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 — Palm Beach

• Score: 68/100
• State rank: #530
• US rank: #9896

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: 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

+138.6% since first listed

47 events — show timeline

• 2026-04-13 Price Changed $310,000 Beaches MLS
• 2026-02-22 Listed $335,000 Beaches MLS
• 2026-02-21 Coming Soon $335,000 Beaches MLS
• 2026-01-13 Listing Removed — Beaches MLS
• 2025-10-19 Rental Removed $2,850 RMLSFL
• 2025-09-11 Price Changed $2,850 RMLSFL
• 2025-08-22 Listed for Rent $2,999 RMLSFL
• 2025-08-13 Price Changed $315,000 Beaches MLS
• 2025-08-11 Rental Removed $2,900 GFLMLS
• 2025-07-26 Listed $350,000 Beaches MLS
• 2025-07-07 Price Changed $2,900 GFLMLS
• 2025-06-10 Price Changed $3,200 GFLMLS
• 2025-05-27 Listed for Rent $3,500 GFLMLS
• 2024-08-10 Rental Removed $3,250 GFLMLS
• 2024-07-20 Listed for Rent $3,250 GFLMLS
• 2024-07-02 Listing Removed — Beaches MLS
• 2024-06-07 Rental Removed $2,800 GFLMLS
• 2024-05-28 Listed for Rent $2,800 GFLMLS
• 2024-05-14 Relisted — Beaches MLS
• 2024-05-03 Rental Removed $3,250 GFLMLS
• 2024-05-02 Listing Removed — Beaches MLS
• 2024-04-26 Price Changed $429,000 Beaches MLS
• 2024-04-17 Price Changed $449,000 Beaches MLS
• 2024-04-06 Listed for Rent $3,250 GFLMLS
• 2024-03-04 Rental Removed $3,250 GFLMLS
• 2024-03-03 Listed for Rent $3,250 GFLMLS
• 2024-02-01 Listed $469,000 Beaches MLS
• 2024-01-31 Coming Soon — Beaches MLS
• 2018-11-16 Sold (MLS) $169,000 Beaches MLS
• 2018-09-17 Contingent — Beaches MLS
• 2018-09-05 Price Changed $179,900 Beaches MLS
• 2018-08-31 Price Changed $225,000 Beaches MLS
• 2018-08-22 Price Changed $187,900 Beaches MLS
• 2018-07-20 Price Changed $189,900 Beaches MLS
• 2018-05-15 Price Changed $199,900 Beaches MLS
• 2018-05-10 Price Changed $204,900 Beaches MLS
• 2018-04-22 Price Changed $214,900 Beaches MLS
• 2018-04-17 Price Changed $224,900 Beaches MLS
• 2018-04-05 Price Changed $229,900 Beaches MLS
• 2018-03-30 Listed $234,900 Beaches MLS
• 2017-12-18 Sold (MLS) $220,000 Beaches MLS
• 2017-10-23 Contingent — Beaches MLS
• 2017-07-22 Listed $239,900 Beaches MLS
• 2014-03-24 Sold (MLS) $115,000 Beaches MLS
• 2014-02-22 Pending — Beaches MLS
• 2014-01-27 Price Changed $119,900 Beaches MLS
• 2013-12-09 Listed $129,900 Beaches MLS