109 Paradise Harbour Blvd #415 · North Palm Beach, FL 33408

$249,900

2 bd · 2.0 ba · 990 sqft · Condo public records · 238 Days on market

Built 1974 $957/mo HOA · 24% of rent

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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 +23.8/30.0
• 1% rule +10.0/10.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fully renovated 2BR, 2 bath Condo. New laminate floors, kitchen, newer AC, screened patio and door. Located in the Village of North Palm Beach and close to restaurants, shopping and I-95. Concrete and roof repairs complete per the Structural Integrity Reserve Study.

Key facts

• Screened patio
• Close to restaurants
• Close to i-95

Tags

• DEEDED BOAT DOCK
• SCREENED PATIO
• VILLAGE OF NORTH PALM BEACH
• CLOSE TO RESTAURANTS
• CLOSE TO SHOPPING
• CLOSE TO I-95

Property features AI

Finance

• HOA & community: Monthly association fee (includes insurance, water, sewer); Association amenities: Boating, Elevator(s), Laundry, Pool, Storage, Trash chute, Sidewalks; Pets not allowed

Exterior

• Parking: Assigned parking; 1 open parking space
• Security: Fire alarm; Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Resale unit; Faces southeast; 5-story building
• Construction: Concrete/Stucco/CBS construction
• Exterior features: Intracoastal waterfront

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Electric heating (central individual); Central individual cooling; Exhaust fan; Paddle fan(s)
• Interior features: Walk-in closets; Partially furnished
• Laundry & utility: Building laundry available

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#184 in FL, #2,894 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living D-.
• 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 flat; 400 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $4,061/mo this rent would consume 53% of the median local household income ($92k/yr) (locally 835% 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

• It's been on market 238 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $235k (48%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $68k; list at $250k implies a 270% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 24% 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 $219,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 238 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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. 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 1.63% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.23%
• DSCR: 1.37
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.27% rent growth · sell at horizon

5-year hold

• IRR: -9.9%
• Equity multiple: 0.65×
• Total profit: $-24,304
• Equity at exit: $37,261

10-year hold

• IRR: -7.3%
• Equity multiple: 0.62×
• Total profit: $-26,533
• Equity at exit: $21,607

Cash invested: $69,972 (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 33408

• Rents YoY: 0.3%
• Active inventory: 400
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $4,061 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$357 /mo · $4,282/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$957
• Vacancy / Maint / Mgmt: −$853
• Net cashflow: $413

Break-even live

Break-even rent $3,538

Max offer price $249,900

Occupancy floor 85%

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
524 Eastwind Dr Unit 524 North Palm Beach, FL	2.0	1.0	774	$3,995	$5.16	24d	1	0.29mi
522 Eastwind Dr North Palm Beach, FL	2.0	2.0	948	$3,995	$4.21	24d	1	0.29mi
526 Eastwind Dr Unit 526 North Palm Beach, FL	2.0	1.0	840	$3,995	$4.76	24d	1	0.30mi
913 Lake Shore Dr Lake Park, FL	1.0–2.0	1.0–2.0	1066	$3,731	$3.50	2d	9	0.61mi
308 Southwind Ct Unit 8 North Palm Beach, FL	2.0	2.0	1100	$2,900	$2.64	24d	1	0.75mi
624 Southwind Cir #2 North Palm Beach, FL	2.0	2.0	718	$3,750	$5.22	24d	1	0.81mi
220 Lake Shore Dr Lake Park, FL	1.0–3.0	1.5–3.5	1575	$14,498	$9.20	4d	18	1.09mi
5400 N Ocean Dr Riviera Beach, FL	1.0–2.0	1.0–2.0	1300	$6,500	$5.00	21d	3	1.20mi
2545 Conroy Dr West Palm Beach, FL	3.0	2.0	1066	$3,295	$3.09	24d	1	1.27mi
20 Yacht Club Dr #405 North Palm Beach, FL	2.0	2.0	1010	$3,000	$2.97	24d	1	1.33mi

HOA detail condo

• Monthly dues: $957 · $11,484/yr
• Likely covers: roof
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $249,900 Active 238 DOM
2. 2026-06-17
   days on market $249,900 Active 237 DOM
3. 2026-06-16
   days on market $249,900 Active 236 DOM
4. 2026-06-15
   days on market $249,900 Active 235 DOM
5. 2026-06-13
   days on market $249,900 Active 233 DOM
6. 2026-06-09
   days on market $249,900 Active 229 DOM
7. 2026-06-07
   days on market $249,900 Active 227 DOM
8. 2026-06-04
   days on market $249,900 Active 224 DOM
9. 2026-06-03
   days on market $249,900 Active 223 DOM
10. 2026-06-02
    price $249,900 Active 221 DOM
11. 2026-06-01
    days on market $265,000 Active 221 DOM
12. 2026-05-31
    days on market $265,000 Active 220 DOM
13. 2026-04-23
    price $265,000
14. 2026-04-17
    price $275,000
15. 2026-04-03
    price $299,999
16. 2026-04-03
    price $315,999
17. 2026-03-20
    price $399,999
18. 2026-02-16
    price $419,900
19. 2026-01-04
    status Active
20. 2026-01-02
    historical
21. 2025-11-10
    price $449,900
22. 2025-10-20
    listed $485,000 Active
23. 1985-11-01
    soldstatus $67,500

ⓘ 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: $4,282 · $357/mo
• Projected year-2 tax: $4,282 · $357/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 7/10 Severe FEMA zone X (shaded) · 91% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,735
• − Mortgage interest: −$13,998
• − Property taxes: −$4,282
• − Insurance: −$2,047
• − Repairs & maintenance: −$3,899
• − Management: −$3,899
• − HOA: −$11,484
• − Depreciation: −$7,270
• Taxable income: $1,856
• Est. tax owed @ 24.0%: −$445
• After-tax cash flow: $4,516/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 — North Palm Beach

• Score: 77/100
• State rank: #184
• US rank: #2894

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 18,817
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 18,817
• Household income: $92,216
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 835.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 7% Black 1% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 4% Slovak 3% Romanian 3%
• Foreign-born: 11% · Canada, Jamaica, Guatemala
• Languages at home: 89% English-only · Spanish 7% Other Indo-European 1% French/Haitian/Cajun 1%

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: ▼ -223.14%
• Current HPI: 365.2913
• Rent YoY: ▲ 0.27%
• 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

+292.6% since first listed

11 events — show timeline

• 2026-04-23 Price Changed $265,000 Beaches MLS
• 2026-04-17 Price Changed $275,000 Beaches MLS
• 2026-04-03 Price Changed $299,999 Beaches MLS
• 2026-04-03 Price Changed $315,999 Beaches MLS
• 2026-03-20 Price Changed $399,999 Beaches MLS
• 2026-02-16 Price Changed $419,900 Beaches MLS
• 2026-01-04 Relisted — Beaches MLS
• 2026-01-02 Listing Removed — Beaches MLS
• 2025-11-10 Price Changed $449,900 Beaches MLS
• 2025-10-20 Listed $485,000 Beaches MLS
• 1985-11-01 Sold (Public Records) $67,500 Public Records

Property tax history

+9.0%/yr

Latest (2025): $4,282 · -6.3% YoY. Source: county tax records.