3589 S Ocean Blvd #306 · South Palm Beach, FL 33480

$479,000

2 bd · 2.0 ba · 1,541 sqft · Condo public records · 81 Days on market

Built 1974 $1778/mo HOA · 30% of rent

---

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 +8.6/30.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0

Listing remarks

Owner ready to Sell! Remodeled Corner Unit with Peak A Boo Ocean View. Steps from the beach and pools, this 2BR/2BA condo features quartzite countertops, white shaker cabinets, stainless steel appliances, recessed LED lighting, impact windows/sliders, and a spacious terrace. Includes walk-in pantry, raised entry ceiling, reverse osmosis system, 2025 AC, and 2022 water heater. The Mayfair House amenities include 2 pools, gym, sauna, clubhouse, private beach access, and storage.

Key facts

• $1,778 HOA
• 100 parking spots
• Community pool

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Has association; Monthly HOA fee; Association amenities include fitness center, pool, sauna, and maintenance; HOA fee covers common areas

Exterior

• Parking: Common open parking; 1 open parking space (100 total parking places reported)
• Security: Smoke detector(s); Security system; Entry phone/intercom
• Utilities: Public water; Public sewer; Electricity available; Sewer available; Water available
• Home design: Condominium; Resale property; Located on entry level 3; Faces north; Mayfair House building
• Construction: Block construction; Concrete / pre-stressed roof; 9-story building; Built area reported from public records
• Exterior features: Open porch; Porch; Private pool; City street frontage; Paved road

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Concrete; Tile; Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central air; Ceiling fan(s)
• Interior features: Kitchen island; Walk-in closet(s); Negotiable furnishings
• Laundry & utility: In-unit laundry (inside)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $479k.

Deal economics

• At list price, monthly cash flow is $-842 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $330k (31.1% below list).
• Meets the 1% rule at list price ($6k rent vs $479k).
• Recommended offer: $330k (31.1% 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: 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 26d 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).
• At $5,915/mo this rent would consume 47% of the median local household income ($151k/yr) (locally 213% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $28k of equity ($3k loan paydown + $25k 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 ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($450k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 30% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $330,175 (31.1% 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 81 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.23% ✓
• Cap rate: 5.25%
• Cash-on-cash: -3.72%
• DSCR: 0.83
• GRM: 6.7

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: 7.6%
• Equity multiple: 1.50×
• Total profit: $66,864
• Equity at exit: $274,793

10-year hold

• IRR: 10.2%
• Equity multiple: 2.95×
• Total profit: $261,130
• Equity at exit: $477,047

Cash invested: $134,120 (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: 6.7×

Monthly cashflow live

• Estimated rent: $5,915 high
• Mortgage (P&I): −$2,512
• Tax from tax record: −$599 /mo · $7,193/yr
• Insurance: −$200
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,778
• Vacancy / Maint / Mgmt: −$1,242
• Net cashflow: $-842

Break-even live

Break-even rent $6,982

Max offer price $330,175

Occupancy floor —

Sensitivity live

Price	-10% $-571	-5% $-707	+0% $-842	+5% $-978	+10% $-1,114
Rent	-10% $-1,310	-5% $-1,076	+0% $-842	+5% $-609	+10% $-375
Rate	-1.0pp $-601	-0.5pp $-721	base $-842	+0.5pp $-967	+1.0pp $-1,093

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: $119,750
• Closing costs: $14,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3581 S Ocean Blvd Unit 9A Palm Beach, FL	2.0	2.0	1192	$2,600	$2.18	18d	1	0.02mi
3589 S Ocean Blvd #614 Palm Beach, FL	2.0	2.0	1541	$4,200	$2.73	25d	1	0.04mi
3589 S Ocean Blvd #614 Palm Beach, FL	2.0	2.0	1541	$4,200	$2.73	22d	1	0.04mi
3589 S Ocean Blvd #801 Palm Beach, FL	2.0	2.0	1541	$6,000	$3.89	13d	1	0.04mi
3589 S Ocean Blvd #314 Palm Beach, FL	2.0	2.5	1541	$3,000	$1.95	25d	1	0.04mi
3601 S Ocean Blvd Palm Beach, FL	2.0	2.5	1408	$2,900	$2.06	21d	2	0.07mi
3601 S Ocean Blvd #308 Palm Beach, FL	2.0	2.5	1408	$3,250	$2.31	20d	1	0.08mi
3605 S Ocean Blvd #319 Palm Beach, FL	2.0	2.0	1121	$4,000	$3.57	5d	1	0.12mi
3605 S Ocean Blvd Palm Beach, FL	2.0	2.0	1162	$3,350	$2.88	25d	2	0.13mi
3560 S Ocean Blvd #907 Palm Beach, FL	2.0	2.0	1340	$7,500	$5.60	12d	1	0.16mi
3560 S Ocean Blvd #706 Palm Beach, FL	2.0	2.0	1340	$12,000	$8.96	22d	1	0.16mi
3560 S Ocean Blvd #4 Palm Beach, FL	2.0	2.0	1340	$7,950	$5.93	25d	1	0.16mi
3560 S Ocean Blvd #306 Palm Beach, FL	2.0	2.0	1380	$7,000	$5.07	20d	1	0.16mi
3560 S Ocean Blvd #200 Palm Beach, FL	2.0	2.5	2007	$7,500	$3.74	25d	1	0.16mi
3560 S Ocean Blvd #301 Palm Beach, FL	3.0	2.5	2007	$13,500	$6.73	25d	1	0.16mi
3560 S Ocean Blvd #1 Palm Beach, FL	3.0	2.5	2007	$7,500	$3.74	25d	1	0.16mi
3560 S Ocean Blvd #502 Palm Beach, FL	2.0	2.0	1340	$9,500	$7.09	25d	1	0.16mi
3560 S Ocean Blvd #907 Palm Beach, FL	2.0	2.0	1340	$7,800	$5.82	12d	1	0.16mi
3610 S Ocean Blvd Palm Beach, FL	1.0–3.0	1.5–2.0	1490	$8,348	$5.60	25d	4	0.17mi
4200 S Ocean Blvd #503 Palm Beach, FL	2.0	2.5	1645	$4,800	$2.92	22d	1	0.22mi
3520 S Ocean Blvd Unit H404 Palm Beach, FL	2.0	2.0	1176	$5,900	$5.02	25d	1	0.25mi
3475 S Ocean Blvd #6150 Palm Beach, FL	2.0	2.0	1395	$8,750	$6.27	25d	1	0.36mi
3475 S Ocean Blvd #3020 Palm Beach, FL	2.0	2.0	1395	$5,000	$3.58	25d	1	0.36mi
3475 S Ocean Blvd #1030 Palm Beach, FL	1.0	2.0	1395	$5,500	$3.94	4d	1	0.36mi
3475 S Ocean Blvd Palm Beach, FL	2.0	2.0	1395	$5,850	$4.19	25d	3	0.37mi
3460 S Ocean Blvd #4150 Palm Beach, FL	2.0	2.0	1436	$10,500	$7.31	25d	1	0.42mi
3456 S Ocean Blvd Apt 705 Palm Beach, FL	2.0	2.0	1457	$3,500	$2.40	25d	1	0.43mi
3456 S Ocean Blvd #105 Palm Beach, FL	2.0	2.0	1482	$12,000	$8.10	25d	1	0.44mi
3456 S Ocean Blvd #6050 Palm Beach, FL	2.0	2.0	1482	$4,650	$3.14	25d	1	0.44mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$9,500	$7.69	9d	9	0.47mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$9,500	$7.69	4d	10	0.47mi
3450 S Ocean Blvd #6010 Palm Beach, FL	2.0	2.0	1548	$5,500	$3.55	15d	1	0.47mi
400 S Ocean Blvd Unit 103a Manalapan, FL	3.0	3.5	1399	$21,000	$15.01	25d	1	0.50mi
3440 S Ocean Blvd Unit 105S Palm Beach, FL	2.0	2.0	1885	$6,900	$3.66	25d	1	0.52mi
3440 S Ocean Blvd Unit 307N Palm Beach, FL	2.0	2.0	1457	$8,500	$5.83	25d	1	0.52mi
3400 S Ocean Blvd Unit 1 C I Palm Beach, FL	2.0	2.0	1740	$12,000	$6.90	25d	1	0.62mi
806 E Windward Way #323 Lantana, FL	2.0	2.0	1265	$5,000	$3.95	25d	1	0.64mi
806 E Windward Way #111 Lantana, FL	2.0	2.0	1265	$3,000	$2.37	25d	1	0.64mi
806 E Windward Way #301 Lantana, FL	3.0	2.0	1632	$3,500	$2.14	25d	1	0.64mi
806 E Windward Way #102 Lantana, FL	3.0	2.0	1632	$4,500	$2.76	6d	1	0.64mi

HOA detail condo

• Monthly dues: $1,778 · $21,336/yr
• Likely covers: waterpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 48 events

1. 2026-06-21
   days on market $479,000 Active 81 DOM
2. 2026-06-18
   days on market $479,000 Active 78 DOM
3. 2026-06-17
   days on market $479,000 Active 77 DOM
4. 2026-06-16
   days on market $479,000 Active 76 DOM
5. 2026-06-15
   days on market $479,000 Active 75 DOM
6. 2026-06-13
   days on market $479,000 Active 73 DOM
7. 2026-06-09
   days on market $479,000 Active 69 DOM
8. 2026-06-08
   days on market $479,000 Active 68 DOM
9. 2026-06-07
   days on market $479,000 Active 67 DOM
10. 2026-06-04
    days on market $479,000 Active 64 DOM
11. 2026-06-03
    days on market $479,000 Active 63 DOM
12. 2026-06-02
    days on market $479,000 Active 62 DOM
13. 2026-06-01
    days on market $479,000 Active 61 DOM
14. 2026-05-31
    days on market $479,000 Active 60 DOM
15. 2026-03-31
    listed $479,000 Active
16. 2026-03-03
    historical
17. 2026-02-07
    price $499,999
18. 2026-01-22
    price $510,000
19. 2025-12-02
    price $520,000
20. 2025-09-04
    listed $525,000 Active
21. 2025-01-15
    historical
22. 2024-11-24
    price $499,000
23. 2024-11-14
    price $510,000
24. 2024-11-07
    price $520,000
25. 2024-10-20
    price $525,000
26. 2024-10-08
    listed $535,000 Active
27. 2023-10-30
    soldstatus $495,000
28. 2023-10-16
    soldstatus $495,000 Closed
29. 2023-09-16
    status Pending
30. 2023-08-18
    listed $495,000 Active
31. 2023-07-09
    historical
32. 2023-06-13
    price $510,000
33. 2023-03-31
    price $524,900
34. 2023-01-29
    price $574,900
35. 2023-01-14
    listed $599,900 Active
36. 2022-09-15
    historical
37. 2022-09-01
    status Active
38. 2022-09-01
    historical
39. 2022-08-10
    status Active
40. 2022-08-07
    historical
41. 2022-06-25
    price $624,900
42. 2022-05-13
    listed $650,000 Active
43. 2022-05-06
    historical
44. 2016-10-05
    soldstatus $225,000
45. 2016-09-30
    soldstatus $225,000 Closed
46. 2016-09-08
    status Pending
47. 2016-07-02
    listed $239,800 Active
48. 2000-07-20
    soldstatus $57,500

ⓘ 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: $7,193 · $599/mo
• Projected year-2 tax: $7,193 · $599/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 27 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: $70,983
• − Mortgage interest: −$26,831
• − Property taxes: −$7,193
• − Insurance: −$7,514
• − Repairs & maintenance: −$5,679
• − Management: −$5,679
• − HOA: −$21,336
• − Depreciation: −$13,935
• Taxable loss: −$17,183
• Est. tax savings @ 24.0%: +$4,124
• After-tax cash flow: $-5,986/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

+733.0% since first listed

34 events — show timeline

• 2026-03-31 Listed $479,000 Beaches MLS
• 2026-03-03 Listing Removed — MARMLS
• 2026-02-07 Price Changed $499,999 MARMLS
• 2026-01-22 Price Changed $510,000 MARMLS
• 2025-12-02 Price Changed $520,000 MARMLS
• 2025-09-04 Listed $525,000 MARMLS
• 2025-01-15 Listing Removed — Beaches MLS
• 2024-11-24 Price Changed $499,000 Beaches MLS
• 2024-11-14 Price Changed $510,000 Beaches MLS
• 2024-11-07 Price Changed $520,000 Beaches MLS
• 2024-10-20 Price Changed $525,000 Beaches MLS
• 2024-10-08 Listed $535,000 Beaches MLS
• 2023-10-30 Sold (Public Records) $495,000 Public Records
• 2023-10-16 Sold (MLS) $495,000 MARMLS
• 2023-09-16 Pending — MARMLS
• 2023-08-18 Listed $495,000 MARMLS
• 2023-07-09 Listing Removed — Beaches MLS
• 2023-06-13 Price Changed $510,000 Beaches MLS
• 2023-03-31 Price Changed $524,900 Beaches MLS
• 2023-01-29 Price Changed $574,900 Beaches MLS
• 2023-01-14 Listed $599,900 Beaches MLS
• 2022-09-15 Listing Removed — Beaches MLS
• 2022-09-01 Relisted — Beaches MLS
• 2022-09-01 Listing Removed — Beaches MLS
• 2022-08-10 Relisted — Beaches MLS
• 2022-08-07 Listing Removed — Beaches MLS
• 2022-06-25 Price Changed $624,900 Beaches MLS
• 2022-05-13 Listed $650,000 Beaches MLS
• 2022-05-06 Coming Soon — Beaches MLS
• 2016-10-05 Sold (Public Records) $225,000 Public Records
• 2016-09-30 Sold (MLS) $225,000 Beaches MLS
• 2016-09-08 Pending — Beaches MLS
• 2016-07-02 Listed $239,800 Beaches MLS
• 2000-07-20 Sold (Public Records) $57,500 Public Records

Property tax history

+6.8%/yr

Latest (2025): $7,193 · -8.7% YoY. Source: county tax records.