3500 S Ocean Blvd #405 · South Palm Beach, FL 33480

$204,950

1 bd · 1.0 ba · 775 sqft · Condo public records · 53 Days on market

Built 1962 $990/mo HOA ↓ 11% 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 +17.6/30.0
• 1% rule +10.0/10.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Direct ocean views - newly renovated - new tile flrs, kit cabinets, range, dishwasher, sink - 55yr+ but can be under with Board approval - rent twice yearly after owing 2 yrs - great cross ventilation - vacant easy to show

Key facts

• Ocean views
• Beach front condo
• $990 HOA

Tags

• BEACH FRONT CONDO
• OCEAN VIEWS
• DIRECT ACCESS TO THE BEACH
• ON-SITE LAUNDRY FACILITIES

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Association: Ocean Breeze Management; Association amenities include laundry and pool; HOA fee $2,970 paid quarterly; HOA fee includes cable TV, insurance, sewer, and water; Senior community

Exterior

• Parking: Assigned parking; Guest parking; Total of 50 parking spaces
• Security: Fire sprinkler system; Smoke detector(s); Security system
• Utilities: Public water; Public sewer; Cable available; Electricity available; Phone available
• Home design: Condominium; Resale; Faces northeast; 5-story building; Living area reported as 775
• Construction: CBS construction; Built-up roof; Flat roof
• Exterior features: Waterfront property; East of US-1 road frontage

Interior

• Kitchen: Electric water heater; Disposal; Dishwasher; Refrigerator; Freezer
• Bedrooms: 1 bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Window/wall heating; Ceiling fan(s); Wall/window cooling units
• Interior features: Walk-in closet(s); Furnished
• Laundry & utility: Common area laundry

🏢 Co-op / cooperative unit. The $204,950 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $205k.

Deal economics

• At list price, monthly cash flow is $93 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $205k).
• Recommended offer: $199k (3.0% below list) — sets the bar for market timing.

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); Lake Worth High School (math 16% / reading 27%, grade F, #546 of 667 statewide, top 82%, 2,683 students, 71% FRL) — zoned schools average 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 50% district-wide (-23 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $12k of equity ($1k loan paydown + $10k 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.
• At projected returns (5.1% appreciation + 3.9% rent growth), your $57k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y 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 $165k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 31% of rent.

Recommended offer $198,801 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.56% ✓
• Cap rate: 7.23%
• Cash-on-cash: 3.34%
• DSCR: 1.15
• GRM: 5.3

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: 15.7%
• Equity multiple: 2.01×
• Total profit: $58,204
• Equity at exit: $117,576

10-year hold

• IRR: 16.8%
• Equity multiple: 4.09×
• Total profit: $177,585
• Equity at exit: $204,114

Cash invested: $57,386 (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: 5.3×

Monthly cashflow live

• Estimated rent: $3,203 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$220 /mo · $2,644/yr
• Insurance: −$85
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$990
• Vacancy / Maint / Mgmt: −$673
• Net cashflow: $93

Break-even live

Break-even rent $3,085

Max offer price $204,950

Occupancy floor 92%

Sensitivity live

Price	-10% $209	-5% $151	+0% $93	+5% $35	+10% $-23
Rent	-10% $-160	-5% $-33	+0% $93	+5% $220	+10% $346
Rate	-1.0pp $197	-0.5pp $146	base $93	+0.5pp $40	+1.0pp $-14

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: $51,238
• Closing costs: $6,148
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3500 S Ocean Blvd Palm Beach, FL	1.0	1.0	580	$1,950	$3.36	2d	3	0.02mi
3475 S Ocean Blvd #6110 Palm Beach, FL	1.0	1.5	891	$3,500	$3.93	25d	1	0.06mi
3475 S Ocean Blvd #3110 Palm Beach, FL	1.0	1.5	891	$2,600	$2.92	25d	1	0.06mi
3540 S Ocean Blvd #309 Palm Beach, FL	1.0	1.5	785	$2,400	$3.06	6d	1	0.08mi
3540 S Ocean Blvd #208 Palm Beach, FL	2.0	2.0	983	$2,750	$2.80	4d	1	0.08mi
3540 S Ocean Blvd Palm Beach, FL	1.0	2.0	983	$4,000	$4.07	25d	1	0.08mi
3540 S Ocean Blvd #608 Palm Beach, FL	2.0	2.0	983	$2,950	$3.00	25d	1	0.08mi
3540 S Ocean Blvd #216 Palm Beach, FL	2.0	2.0	983	$2,550	$2.59	23d	1	0.08mi
3540 S Ocean Blvd #309 Palm Beach, FL	1.0	1.5	785	$2,300	$2.93	6d	1	0.08mi
3540 S Ocean Blvd #612 Palm Beach, FL	2.0	2.0	983	$4,700	$4.78	8d	1	0.08mi
3540 S Ocean Blvd #310 Palm Beach, FL	1.0	1.5	785	$2,100	$2.68	8d	1	0.08mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$2,750	$2.22	8d	9	0.17mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$2,300	$1.86	3d	10	0.17mi
3450 S Ocean Blvd #3280 Palm Beach, FL	1.0	1.0	952	$2,500	$2.63	25d	1	0.18mi
3450 S Ocean Blvd #1050 Palm Beach, FL	1.0	1.0	952	$2,950	$3.10	25d	1	0.18mi
3450 S Ocean Blvd #4270 Palm Beach, FL	1.0	1.0	924	$3,250	$3.52	25d	1	0.18mi
3450 S Ocean Blvd #8120 Palm Beach, FL	1.0	1.5	1008	$3,500	$3.47	25d	1	0.18mi
3580 S Ocean Blvd Unit 6B Palm Beach, FL	1.0	1.5	1013	$2,500	$2.47	15d	1	0.28mi
3581 S Ocean Blvd Unit 2B Palm Beach, FL	1.0	1.5	940	$2,900	$3.09	17d	1	0.29mi
3605 S Ocean Blvd Palm Beach, FL	2.0	2.0	1162	$3,350	$2.88	25d	2	0.40mi
3605 S Ocean Blvd #319 Palm Beach, FL	2.0	2.0	1121	$4,000	$3.57	5d	1	0.41mi
4201 S Ocean Blvd Unit K2 Palm Beach, FL	1.0	1.5	714	$2,299	$3.22	8d	1	0.46mi
896 N Federal Hwy Lantana, FL	2.0	2.0	1027	$2,700	$2.63	25d	2	0.69mi
896 N Federal Hwy Lantana, FL	2.0	2.0	1027	$2,925	$2.85	8d	2	0.69mi
107 Waterway Dr S Lantana, FL	1.0	1.5	806	$1,750	$2.17	8d	1	0.69mi
3230 S Ocean Blvd Unit 607D Palm Beach, FL	2.0	2.0	980	$3,500	$3.57	13d	1	0.74mi
200 Waterway Dr S #202 Lantana, FL	1.0	1.5	806	$1,850	$2.30	25d	1	0.75mi
896 N Federal Hwy #128 Lantana, FL	2.0	2.0	1025	$3,200	$3.12	12d	1	0.76mi
1516 S Lakeside Dr Lake Worth, FL	1.0	1.5	767	$1,650	$2.15	14d	2	0.77mi
1502 S Lakeside Dr #302 Lake Worth Beach, FL	1.0	1.0	700	$1,200	$1.71	19d	1	0.79mi
301 Croton Ave #302 Lantana, FL	1.0	1.0	702	$1,900	$2.71	25d	1	0.79mi
300 Croton Ave #102 Lantana, FL	2.0	2.0	1039	$3,250	$3.13	25d	1	0.80mi
300 Croton Ave Lantana, FL	2.0	2.0	1039	$3,000	$2.89	25d	1	0.80mi
303 Waterway Dr S #303 Lantana, FL	2.0	1.5	900	$2,100	$2.33	25d	1	0.81mi
300 Waterway Dr S #308 Lantana, FL	2.0	1.5	806	$2,200	$2.73	25d	1	0.81mi
231 E Lantana Rd #203 Lantana, FL	2.0	2.0	950	$2,400	$2.53	4d	1	0.83mi
720 N Dixie Hwy #202 Lantana, FL	2.0	2.5	1125	$2,000	$1.78	5d	1	0.83mi
802 W Windward Way #304 Lantana, FL	1.0	1.0	839	$2,700	$3.22	25d	1	0.86mi
119 Sunrise Ave Unit A Lantana, FL	1.0	1.0	555	$2,400	$4.32	21d	1	0.87mi
200 Croton Ave Lantana, FL	1.0–2.0	1.0	695	$1,675	$2.41	15d	2	0.89mi

HOA detail condo

• Monthly dues: $990 · $11,880/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $204,950 Active 53 DOM
2. 2026-06-17
   days on market $204,950 Active 52 DOM
3. 2026-06-16
   days on market $204,950 Active 51 DOM
4. 2026-06-15
   days on market $204,950 Active 50 DOM
5. 2026-06-13
   days on market $204,950 Active 48 DOM
6. 2026-06-09
   days on market $204,950 Active 44 DOM
7. 2026-06-08
   days on market $204,950 Active 43 DOM
8. 2026-06-07
   days on market $204,950 Active 42 DOM
9. 2026-06-04
   days on market $204,950 Active 39 DOM
10. 2026-06-03
    days on market $204,950 Active 38 DOM
11. 2026-06-02
    days on market $204,950 Active 37 DOM
12. 2026-06-01
    days on market $204,950 Active 36 DOM
13. 2026-05-31
    days on market $204,950 Active 35 DOM
14. 2026-04-23
    listed $204,950 Active
15. 2026-02-17
    historical $2,005
16. 2026-01-01
    listed $2,005
17. 2025-12-21
    historical $2,005
18. 2025-12-18
    listed $2,005
19. 2025-12-06
    historical $2,005
20. 2025-11-26
    price $2,005
21. 2025-11-18
    listed $2,175
22. 2025-11-18
    historical $2,175
23. 2025-11-17
    listed $2,175
24. 2008-02-14
    soldstatus $165,000 222-char remark

    Show marketing remark (222 chars)

    Direct ocean views - newly renovated - new tile flrs, kit cabinets, range, dishwasher, sink - 55yr+ but can be under with Board approval - rent twice yearly after owing 2 yrs - great cross ventilation - vacant easy to show

25. 2008-01-31
    historical 222-char remark

    Show marketing remark (222 chars)

    Direct ocean views - newly renovated - new tile flrs, kit cabinets, range, dishwasher, sink - 55yr+ but can be under with Board approval - rent twice yearly after owing 2 yrs - great cross ventilation - vacant easy to show

26. 2007-06-21
    listed $229,000 222-char remark

    Show marketing remark (222 chars)

    Direct ocean views - newly renovated - new tile flrs, kit cabinets, range, dishwasher, sink - 55yr+ but can be under with Board approval - rent twice yearly after owing 2 yrs - great cross ventilation - vacant easy to show

ⓘ 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: $2,644 · $220/mo
• Projected year-2 tax: $2,644 · $220/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 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,436
• − Mortgage interest: −$11,480
• − Property taxes: −$2,644
• − Insurance: −$1,822
• − Repairs & maintenance: −$3,075
• − Management: −$3,075
• − HOA: −$11,880
• − Depreciation: −$5,962
• Taxable loss: −$1,502
• Est. tax savings @ 24.0%: +$360
• After-tax cash flow: $1,482/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

-10.5% since first listed

13 events — show timeline

• 2026-04-23 Listed $204,950 Beaches MLS
• 2026-02-17 Rental Removed $2,005 GFLMLS
• 2026-01-01 Listed for Rent $2,005 GFLMLS
• 2025-12-21 Rental Removed $2,005 GFLMLS
• 2025-12-18 Listed for Rent $2,005 GFLMLS
• 2025-12-06 Rental Removed $2,005 GFLMLS
• 2025-11-26 Price Changed $2,005 GFLMLS
• 2025-11-18 Listed for Rent $2,175 GFLMLS
• 2025-11-18 Rental Removed $2,175 RMLSFL
• 2025-11-17 Listed for Rent $2,175 RMLSFL
• 2008-02-14 Sold (MLS) $165,000 Beaches MLS
• 2008-01-31 Listing Removed — Beaches MLS
• 2007-06-21 Listed $229,000 Beaches MLS

Property tax history

+2.6%/yr

Latest (2025): $2,644 · +1.3% YoY. Source: county tax records.