3581 S Ocean Blvd Unit 2d · South Palm Beach, FL 33480

$349,900

2 bd · 2.0 ba · 1,232 sqft · Condo public records · 156 Days on market

Built 1974 $1115/mo HOA · 23% 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 +17.5/30.0
• 1% rule +8.6/10.0
• 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

CLEAN SECOND FLOOR UNIT - NO VIEW TO INTRACOASTAL BUT ASKING ONLY 1BR PRICE SOLD FULLY FURNISHED. MOST APPLIANCES RECENTLY REPLACED INCLUDING A/C, DISHW. WASHER AND DRYER. BLDG. RENOVATION RECENTLY DONE-NO SPEC. ASSMT. SCHEDULED!!

Key facts

• Wrap-around balcony
• Deeded beach access
• Community pool

Tags

• WRAP-AROUND BALCONY
• DEEDED BEACH ACCESS
• PANORAMIC VIEWS
• COMMUNITY POOL
• HURRICANE SHUTTERS
• DEDICATED WINE REFRIGERATOR

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: HOA with monthly fee; Association amenities include elevator(s), parking, pool, sauna, trash chute, bike storage, community room and street lights; HOA fee includes cable TV, insurance, grounds maintenance, sewer, water, common areas and elevator

Exterior

• Parking: Assigned, deeded parking
• Security: Building security system; Entry with phone/intercom
• Utilities: Public water; Public sewer; Three-phase electric service; Cable available
• Home design: Condominium; Multi-level / split layout; Faces east; 9-story building
• Construction: Block, concrete and stucco construction
• Exterior features: Waterfront property; Sidewalks; Paved road access; Tar/gravel roof

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: Bedrooms on upper levels (multi/split layout)
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central air conditioning (electric)
• Interior features: Walk-in closets; Split bedroom layout; Closet cabinetry; Blinds and drapes
• Laundry & utility: Laundry closet inside the unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $350k.

Deal economics

• At list price, monthly cash flow is $-157 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $322k (7.9% below list).
• Meets the 1% rule at list price ($5k rent vs $350k).
• Recommended offer: $308k (12.0% 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 23d 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 $20k of equity ($2k loan paydown + $18k 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 ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 28y 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 $78k; list at $350k implies a 346% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 23% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $307,912 (12.0% 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 156 days. Have you received any prior offers? Is the seller open to a 12% 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. 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.
10. 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.
11. 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: 7.22%
• Cash-on-cash: 3.31%
• DSCR: 1.15
• 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: 12.3%
• Equity multiple: 1.80×
• Total profit: $78,433
• Equity at exit: $200,731

10-year hold

• IRR: 14.0%
• Equity multiple: 3.61×
• Total profit: $255,675
• Equity at exit: $348,474

Cash invested: $97,972 (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 33480

• Home prices YoY: 1.1%
• Rents YoY: 3.9%
• Active inventory: 447
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $4,770 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$403 /mo · $4,834/yr
• Insurance: −$146
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,115
• Vacancy / Maint / Mgmt: −$1,002
• Net cashflow: $-157

Break-even live

Break-even rent $4,968

Max offer price $322,253

Occupancy floor 98%

Sensitivity live

Price	-10% $42	-5% $-57	+0% $-157	+5% $-256	+10% $-355
Rent	-10% $-533	-5% $-345	+0% $-157	+5% $32	+10% $220
Rate	-1.0pp $20	-0.5pp $-68	base $-157	+0.5pp $-247	+1.0pp $-339

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3581 S Ocean Blvd Unit 2B Palm Beach, FL	1.0	1.5	940	$2,900	$3.09	18d	1	0.02mi
3581 S Ocean Blvd Unit 9A Palm Beach, FL	2.0	2.0	1192	$2,600	$2.18	18d	1	0.02mi
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
3580 S Ocean Blvd Unit 6B Palm Beach, FL	1.0	1.5	1013	$2,500	$2.47	16d	1	0.14mi
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 #907 Palm Beach, FL	2.0	2.0	1340	$7,800	$5.82	12d	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 #706 Palm Beach, FL	2.0	2.0	1340	$12,000	$8.96	22d	1	0.16mi
3560 S Ocean Blvd #502 Palm Beach, FL	2.0	2.0	1340	$9,500	$7.09	25d	1	0.16mi
4201 S Ocean Blvd Unit K2 Palm Beach, FL	1.0	1.5	714	$2,299	$3.22	9d	1	0.17mi
3610 S Ocean Blvd Palm Beach, FL	1.0–3.0	1.5–2.0	1490	$8,348	$5.60	25d	4	0.17mi
3540 S Ocean Blvd #216 Palm Beach, FL	2.0	2.0	983	$2,550	$2.59	23d	1	0.23mi
3540 S Ocean Blvd #310 Palm Beach, FL	1.0	1.5	785	$2,100	$2.68	9d	1	0.23mi
3540 S Ocean Blvd #608 Palm Beach, FL	2.0	2.0	983	$2,950	$3.00	25d	1	0.23mi
3540 S Ocean Blvd #309 Palm Beach, FL	1.0	1.5	785	$2,400	$3.06	6d	1	0.23mi
3540 S Ocean Blvd #208 Palm Beach, FL	2.0	2.0	983	$2,750	$2.80	5d	1	0.23mi
3540 S Ocean Blvd Palm Beach, FL	1.0	2.0	983	$4,000	$4.07	25d	1	0.23mi
3540 S Ocean Blvd #309 Palm Beach, FL	1.0	1.5	785	$2,300	$2.93	6d	1	0.23mi
3540 S Ocean Blvd #612 Palm Beach, FL	2.0	2.0	983	$4,700	$4.78	9d	1	0.23mi
3520 S Ocean Blvd Unit H404 Palm Beach, FL	2.0	2.0	1176	$5,900	$5.02	25d	1	0.25mi
3500 S Ocean Blvd Palm Beach, FL	1.0	1.0	580	$1,950	$3.36	2d	3	0.31mi
3475 S Ocean Blvd #6110 Palm Beach, FL	1.0	1.5	891	$3,500	$3.93	25d	1	0.36mi
3475 S Ocean Blvd #3110 Palm Beach, FL	1.0	1.5	891	$2,600	$2.92	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 #6150 Palm Beach, FL	2.0	2.0	1395	$8,750	$6.27	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 #4270 Palm Beach, FL	1.0	1.0	924	$3,250	$3.52	25d	1	0.47mi
3450 S Ocean Blvd #8120 Palm Beach, FL	1.0	1.5	1008	$3,500	$3.47	25d	1	0.47mi
3450 S Ocean Blvd #3280 Palm Beach, FL	1.0	1.0	952	$2,500	$2.63	25d	1	0.47mi

HOA detail condo

• Monthly dues: $1,115 · $13,380/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $349,900 Active 156 DOM
2. 2026-06-18
   days on market $349,900 Active 153 DOM
3. 2026-06-17
   days on market $349,900 Active 152 DOM
4. 2026-06-16
   days on market $349,900 Active 151 DOM
5. 2026-06-15
   days on market $349,900 Active 150 DOM
6. 2026-06-13
   days on market $349,900 Active 148 DOM
7. 2026-06-09
   days on market $349,900 Active 144 DOM
8. 2026-06-07
   days on market $349,900 Active 142 DOM
9. 2026-06-04
   days on market $349,900 Active 139 DOM
10. 2026-06-03
    days on market $349,900 Active 138 DOM
11. 2026-06-01
    days on market $349,900 Active 136 DOM
12. 2026-05-31
    days on market $349,900 Active 135 DOM
13. 2026-05-12
    price $349,900
14. 2026-04-09
    price $350,000
15. 2026-02-19
    price $370,000
16. 2026-01-16
    listed $375,000 Active
17. 1998-12-10
    soldstatus $78,500
18. 1998-11-25
    soldstatus $78,500 230-char remark

    Show marketing remark (230 chars)

    CLEAN SECOND FLOOR UNIT - NO VIEW TO INTRACOASTAL BUT ASKING ONLY 1BR PRICE SOLD FULLY FURNISHED. MOST APPLIANCES RECENTLY REPLACED INCLUDING A/C, DISHW. WASHER AND DRYER. BLDG. RENOVATION RECENTLY DONE-NO SPEC. ASSMT. SCHEDULED!!

19. 1998-10-03
    historical 230-char remark

    Show marketing remark (230 chars)

    CLEAN SECOND FLOOR UNIT - NO VIEW TO INTRACOASTAL BUT ASKING ONLY 1BR PRICE SOLD FULLY FURNISHED. MOST APPLIANCES RECENTLY REPLACED INCLUDING A/C, DISHW. WASHER AND DRYER. BLDG. RENOVATION RECENTLY DONE-NO SPEC. ASSMT. SCHEDULED!!

20. 1998-08-29
    listed $83,900 230-char remark

    Show marketing remark (230 chars)

    CLEAN SECOND FLOOR UNIT - NO VIEW TO INTRACOASTAL BUT ASKING ONLY 1BR PRICE SOLD FULLY FURNISHED. MOST APPLIANCES RECENTLY REPLACED INCLUDING A/C, DISHW. WASHER AND DRYER. BLDG. RENOVATION RECENTLY DONE-NO SPEC. ASSMT. SCHEDULED!!

ⓘ 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: $4,834 · $403/mo
• Projected year-2 tax: $4,834 · $403/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 AE · 96% 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: $57,244
• − Mortgage interest: −$19,600
• − Property taxes: −$4,834
• − Insurance: −$6,868
• − Repairs & maintenance: −$4,579
• − Management: −$4,579
• − HOA: −$13,380
• − Depreciation: −$10,179
• Taxable loss: −$6,776
• Est. tax savings @ 24.0%: +$1,626
• After-tax cash flow: $-252/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

+317.0% since first listed

8 events — show timeline

• 2026-05-12 Price Changed $349,900 Beaches MLS
• 2026-04-09 Price Changed $350,000 Beaches MLS
• 2026-02-19 Price Changed $370,000 Beaches MLS
• 2026-01-16 Listed $375,000 Beaches MLS
• 1998-12-10 Sold (Public Records) $78,500 Public Records
• 1998-11-25 Sold (MLS) $78,500 Beaches MLS
• 1998-10-03 Listing Removed — Beaches MLS
• 1998-08-29 Listed $83,900 Beaches MLS

Property tax history

+9.0%/yr

Latest (2025): $4,834 · +174.3% YoY. Source: county tax records.