4500 S Ocean Blvd #405 · South Palm Beach, FL 33480

$325,000

1 bd · 1.0 ba · 798 sqft · Condo public records · 19 Days on market

Built 1961 $825/mo HOA · 26% 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).

• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Cash flow +6.6/30.0
• 1% rule +4.8/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.9/10.0

Listing remarks

Experience coastal living from this beautifully updated 4th-floor residence in Imperial House on the quiet barrier island of South Palm Beach. This charming 1-bedroom, 1-bath cooperative offers ocean views from every room and a welcoming blend of comfort and style. Inside, you'll find upgraded flooring, a stunning built-in bar, custom shelving, an electric fireplace, upgraded kitchen countertops and backsplash, an updated bathroom, and a spacious walk-in closet. The building's front balcony offers beautiful views of both the ocean and community pool. Imperial House residents enjoy private beach access, a rooftop sundeck, secure entry, elevator access, assigned parking, and guest parking. Co

Key facts

• Custom shelving
• Walk-in closet
• Built-in bar

Tags

• BUILT-IN BAR
• CUSTOM SHELVING
• ELECTRIC FIREPLACE
• UPGRADED KITCHEN COUNTERTOPS
• UPDATED BATHROOM
• WALK-IN CLOSET

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Monthly association fee; Association covers grounds and structure maintenance, parking, pool(s), roof, and water; Community amenities: elevators, playground, pool, trails

Exterior

• Parking: One parking space
• Security: Complex fenced
• Utilities: Water service included in association; Electric service; Central cooling
• Home design: Attached property; 6-story building; Entry on level 4; Resale unit
• Construction: Block construction
• Exterior features: Balcony; Open balcony/porch; Oceanfront; Has view; Complex fenced; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Concrete
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Unfurnished; Built-in features; Bar; Walk-in closet(s); Fireplace

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $325k.

Deal economics

• At list price, monthly cash flow is $-598 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (32.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $318k (2.3% below list).
• Recommended offer: $219k (32.5% 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: schools C-, 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.
• 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 19d 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 $19k of equity ($2k loan paydown + $17k 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 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y 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 $279k; 16% 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 26% of rent.
• Climate carrying-cost: severe 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 $219,405 (32.5% 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. Built in 1961 — 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. 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?
8. 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.
9. 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.
10. 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: 0.98% ✗
• Cap rate: 4.33%
• Cash-on-cash: -7.01%
• DSCR: 0.69
• GRM: 8.5

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: 7.2%
• Equity multiple: 1.47×
• Total profit: $42,516
• Equity at exit: $186,446

10-year hold

• IRR: 9.7%
• Equity multiple: 2.84×
• Total profit: $167,636
• Equity at exit: $323,675

Cash invested: $91,000 (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: 8.5×

Monthly cashflow live

• Estimated rent: $3,175 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$375 /mo · $4,499/yr
• Insurance: −$135
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$825
• Vacancy / Maint / Mgmt: −$667
• Net cashflow: $-598

Break-even live

Break-even rent $3,932

Max offer price $219,405

Occupancy floor —

Sensitivity live

Price	-10% $-414	-5% $-506	+0% $-598	+5% $-690	+10% $-782
Rent	-10% $-849	-5% $-723	+0% $-598	+5% $-472	+10% $-347
Rate	-1.0pp $-434	-0.5pp $-515	base $-598	+0.5pp $-682	+1.0pp $-768

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3605 S Ocean Blvd Palm Beach, FL	2.0	2.0	1162	$3,350	$2.88	25d	2	0.11mi
4201 S Ocean Blvd Unit K2 Palm Beach, FL	1.0	1.5	714	$2,299	$3.22	8d	1	0.12mi
3605 S Ocean Blvd #319 Palm Beach, FL	2.0	2.0	1121	$4,000	$3.57	5d	1	0.14mi
3580 S Ocean Blvd Unit 6B Palm Beach, FL	1.0	1.5	1013	$2,500	$2.47	16d	1	0.21mi
3581 S Ocean Blvd Unit 2B Palm Beach, FL	1.0	1.5	940	$2,900	$3.09	18d	1	0.23mi
3540 S Ocean Blvd #310 Palm Beach, FL	1.0	1.5	785	$2,100	$2.68	8d	1	0.40mi
3540 S Ocean Blvd #612 Palm Beach, FL	2.0	2.0	983	$4,700	$4.78	8d	1	0.40mi
3540 S Ocean Blvd #608 Palm Beach, FL	2.0	2.0	983	$2,950	$3.00	25d	1	0.40mi
3540 S Ocean Blvd #208 Palm Beach, FL	2.0	2.0	983	$2,750	$2.80	5d	1	0.40mi
3540 S Ocean Blvd Palm Beach, FL	1.0	2.0	983	$4,000	$4.07	25d	1	0.40mi
3540 S Ocean Blvd #309 Palm Beach, FL	1.0	1.5	785	$2,300	$2.93	6d	1	0.40mi
3540 S Ocean Blvd #309 Palm Beach, FL	1.0	1.5	785	$2,400	$3.06	6d	1	0.40mi
3540 S Ocean Blvd #216 Palm Beach, FL	2.0	2.0	983	$2,550	$2.59	23d	1	0.40mi
3500 S Ocean Blvd Palm Beach, FL	1.0	1.0	580	$1,950	$3.36	2d	3	0.50mi
3475 S Ocean Blvd #3110 Palm Beach, FL	1.0	1.5	891	$2,600	$2.92	25d	1	0.53mi
3475 S Ocean Blvd #6110 Palm Beach, FL	1.0	1.5	891	$3,500	$3.93	25d	1	0.53mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$2,300	$1.86	4d	10	0.66mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$2,750	$2.22	8d	9	0.66mi
3450 S Ocean Blvd #8120 Palm Beach, FL	1.0	1.5	1008	$3,500	$3.47	25d	1	0.66mi
3450 S Ocean Blvd #4270 Palm Beach, FL	1.0	1.0	924	$3,250	$3.52	25d	1	0.66mi
3450 S Ocean Blvd #1050 Palm Beach, FL	1.0	1.0	952	$2,950	$3.10	25d	1	0.66mi
3450 S Ocean Blvd #3280 Palm Beach, FL	1.0	1.0	952	$2,500	$2.63	25d	1	0.66mi
300 Croton Ave Lantana, FL	2.0	2.0	1039	$3,000	$2.89	25d	1	0.71mi
300 Croton Ave #102 Lantana, FL	2.0	2.0	1039	$3,250	$3.13	25d	1	0.71mi
301 Croton Ave #302 Lantana, FL	1.0	1.0	702	$1,900	$2.71	25d	1	0.72mi
231 E Lantana Rd #203 Lantana, FL	2.0	2.0	950	$2,400	$2.53	5d	1	0.72mi
315 N Lake Dr Unit 6 Lantana, FL	1.0	1.0	590	$1,495	$2.53	18d	1	0.79mi
200 Croton Ave Lantana, FL	1.0–2.0	1.0	695	$1,675	$2.41	16d	2	0.80mi
115 E Lantana Rd Lantana, FL	1.0	1.0	600	$1,600	$2.67	12d	1	0.83mi
119 Sunrise Ave Unit A Lantana, FL	1.0	1.0	555	$2,400	$4.32	21d	1	0.83mi
720 N Dixie Hwy #202 Lantana, FL	2.0	2.5	1125	$2,000	$1.78	5d	1	0.84mi
107 Waterway Dr S Lantana, FL	1.0	1.5	806	$1,750	$2.17	8d	1	0.85mi
896 N Federal Hwy Lantana, FL	2.0	2.0	1027	$2,925	$2.85	8d	2	0.87mi
896 N Federal Hwy Lantana, FL	2.0	2.0	1027	$2,700	$2.63	25d	2	0.87mi
200 Waterway Dr S #202 Lantana, FL	1.0	1.5	806	$1,850	$2.30	25d	1	0.89mi
802 W Windward Way #304 Lantana, FL	1.0	1.0	839	$2,700	$3.22	25d	1	0.92mi
896 N Federal Hwy #128 Lantana, FL	2.0	2.0	1025	$3,200	$3.12	12d	1	0.93mi
303 Waterway Dr S #303 Lantana, FL	2.0	1.5	900	$2,100	$2.33	25d	1	0.94mi
300 Waterway Dr S #308 Lantana, FL	2.0	1.5	806	$2,200	$2.73	25d	1	0.95mi
329 Melody Ln Unit 331 Lantana, FL	2.0	2.0	842	$1,849	$2.20	8d	1	0.99mi

HOA detail condo

• Monthly dues: $825 · $9,900/yr
• Likely covers: electricpoolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-21
   days on market $325,000 Active 19 DOM
2. 2026-06-18
   days on market $325,000 Active 16 DOM
3. 2026-06-17
   days on market $325,000 Active 15 DOM
4. 2026-06-16
   days on market $325,000 Active 14 DOM
5. 2026-06-15
   days on market $325,000 Active 13 DOM
6. 2026-06-13
   days on market $325,000 Active 11 DOM
7. 2026-06-09
   days on market $325,000 Active 7 DOM
8. 2026-06-08
   days on market $325,000 Active 6 DOM
9. 2026-06-07
   days on market $325,000 Active 5 DOM
10. 2026-06-04
    days on market $325,000 Active 2 DOM
11. 2026-06-02
    remarks 699-char remark
12. 2026-06-02
    listed $325,000 Active 1 DOM

ⓘ 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: $4,499 · $375/mo
• Projected year-2 tax: $4,499 · $375/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 9/10 Extreme FEMA zone X (unshaded) · 99% 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: $38,102
• − Mortgage interest: −$18,205
• − Property taxes: −$4,499
• − Insurance: −$2,422
• − Repairs & maintenance: −$3,048
• − Management: −$3,048
• − HOA: −$9,900
• − Depreciation: −$9,455
• Taxable loss: −$12,475
• Est. tax savings @ 24.0%: +$2,994
• After-tax cash flow: $-4,179/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

+16.5% since first listed

18 events — show timeline

• 2026-06-02 Listed $325,000 MARMLS
• 2026-04-30 Listing Removed — Beaches MLS
• 2025-11-04 Listed $349,000 Beaches MLS
• 2025-10-02 Listing Removed — Beaches MLS
• 2025-08-25 Price Changed $349,000 Beaches MLS
• 2025-05-21 Price Changed $309,999 Beaches MLS
• 2025-04-22 Price Changed $344,000 Beaches MLS
• 2025-03-25 Listed $349,000 Beaches MLS
• 2025-02-26 Listing Removed — Beaches MLS
• 2025-02-13 Price Changed $375,000 Beaches MLS
• 2024-10-21 Price Changed $399,000 Beaches MLS
• 2024-08-13 Price Changed $449,000 Beaches MLS
• 2024-08-11 Listed $349,000 Beaches MLS
• 2024-01-31 Sold (MLS) $279,000 Beaches MLS
• 2024-01-11 Contingent — Beaches MLS
• 2024-01-10 Relisted — Beaches MLS
• 2024-01-08 Contingent — Beaches MLS
• 2023-12-15 Listed $279,000 Beaches MLS

Property tax history

+5.1%/yr

Latest (2025): $4,499 · +1.0% YoY. Source: county tax records.