1850 N Congress Ave #305 · West Palm Beach, FL 33401

$195,000

2 bd · 1.0 ba · 850 sqft · Condo public records · 47 Days on market

Built 1981 $495/mo HOA · 16% of rent

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Why this score? — see what drove the B- 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 +26.9/30.0
• 1% rule +10.0/10.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT INVESTMENT OPPORTUNITY!! Stunning 2 Bedrooms, 1 Bathroom unit on third floor steps away from laundry room and elevator access. Close to shopping resturants. Easy access to I-95. Unit is currently tenant occupied. MAKE AN OFFER TODAY!

Key facts

• Custom cabinetry
• Fully renovated
• Modern kitchen

Tags

• FULLY RENOVATED
• MODERN KITCHEN
• CUSTOM CABINETRY
• STAINLESS STEEL APPLIANCES
• UPDATED BATHROOM
• LUXURY VINYL PLANK FLOORING

Property features AI

Finance

• Other: Pets allowed (no restrictions / number limit allowed)
• HOA & community: HOA fee $495 monthly; HOA covers insurance, grounds maintenance, security, sewer, trash, water, common areas, elevator, reserve funds, roof repairs, pool service; Association present with no listed amenities

Exterior

• Parking: Open parking with 2 spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable connected
• Home design: Condominium; Resale condition; Faces northeast; 4 total stories
• Construction: Concrete/CBS construction
• Exterior features: No waterfront; Roof: Other

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating (central, individual); Central electric cooling (individual)
• Interior features: Walk-in closet(s); Unfurnished

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $539 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.8% in West Palm Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#75 in FL, #1,255 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, crime 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: Roosevelt Elementary School (math 22% / reading 22%, grade F, #2,080 of 2,144 statewide, top 97%, 324 students, 86% FRL); Palm Beach Lakes High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 2,688 students, 70% FRL) — zoned schools average 78% FRL vs 52% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 50% district-wide (-28 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 fast (+5.2%/yr); 506 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $55k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 5y 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 $122k; list at $195k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.55% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.85%
• DSCR: 1.53
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.15% rent growth · sell at horizon

5-year hold

• IRR: 4.5%
• Equity multiple: 1.18×
• Total profit: $9,751
• Equity at exit: $29,075

10-year hold

• IRR: 16.4%
• Equity multiple: 2.51×
• Total profit: $82,683
• Equity at exit: $16,860

Cash invested: $54,600 (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 33401

• Rents YoY: 5.2%
• Active inventory: 506
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $3,014 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$243 /mo · $2,913/yr
• Insurance: −$81
• HOA: −$495
• Vacancy / Maint / Mgmt: −$633
• Net cashflow: $539

Break-even live

Break-even rent $2,331

Max offer price $195,000

Occupancy floor 77%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1991 Presidential Way West Palm Beach, FL	1.0	1.0	827	$3,427	$4.14	7d	1	0.30mi
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$2,705	$2.53	19d	19	1.14mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$2,528	$2.07	17d	60	1.31mi
3590 Village Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1074	$2,798	$2.60	1d	29	1.50mi

HOA detail condo

• Monthly dues: $495 · $5,940/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 36 events

1. 2026-06-18
   days on market $195,000 Active 47 DOM
2. 2026-06-17
   days on market $195,000 Active 46 DOM
3. 2026-06-16
   days on market $195,000 Active 45 DOM
4. 2026-06-15
   days on market $195,000 Active 44 DOM
5. 2026-06-13
   days on market $195,000 Active 42 DOM
6. 2026-06-09
   days on market $195,000 Active 38 DOM
7. 2026-06-08
   days on market $195,000 Active 37 DOM
8. 2026-06-07
   days on market $195,000 Active 36 DOM
9. 2026-06-04
   days on market $195,000 Active 33 DOM
10. 2026-06-03
    days on market $195,000 Active 32 DOM
11. 2026-06-02
    days on market $195,000 Active 31 DOM
12. 2026-06-01
    days on market $195,000 Active 30 DOM
13. 2026-05-31
    days on market $195,000 Active 29 DOM
14. 2026-05-02
    listed $195,000 Active
15. 2026-03-30
    historical
16. 2025-10-02
    price $195,000
17. 2025-10-02
    historical $2,150
18. 2025-09-11
    listed $2,150
19. 2025-09-10
    status Active
20. 2025-09-01
    historical $2,150
21. 2025-09-01
    historical
22. 2025-05-04
    listed $2,150
23. 2025-05-03
    listed $220,000 Active
24. 2021-08-05
    soldstatus $122,000
25. 2021-08-02
    soldstatus $122,000 Closed 239-char remark

    Show marketing remark (239 chars)

    GREAT INVESTMENT OPPORTUNITY!! Stunning 2 Bedrooms, 1 Bathroom unit on third floor steps away from laundry room and elevator access. Close to shopping resturants. Easy access to I-95. Unit is currently tenant occupied. MAKE AN OFFER TODAY!

26. 2021-07-10
    historical Active Under Contract 239-char remark

    Show marketing remark (239 chars)

    GREAT INVESTMENT OPPORTUNITY!! Stunning 2 Bedrooms, 1 Bathroom unit on third floor steps away from laundry room and elevator access. Close to shopping resturants. Easy access to I-95. Unit is currently tenant occupied. MAKE AN OFFER TODAY!

27. 2021-06-27
    historical
28. 2021-06-26
    status Active

    Show marketing remark (239 chars)

    GREAT INVESTMENT OPPORTUNITY!! Stunning 2 Bedrooms, 1 Bathroom unit on third floor steps away from laundry room and elevator access. Close to shopping resturants. Easy access to I-95. Unit is currently tenant occupied. MAKE AN OFFER TODAY!

29. 2021-06-26
    listed $139,900 Active 239-char remark

    Show marketing remark (239 chars)

    GREAT INVESTMENT OPPORTUNITY!! Stunning 2 Bedrooms, 1 Bathroom unit on third floor steps away from laundry room and elevator access. Close to shopping resturants. Easy access to I-95. Unit is currently tenant occupied. MAKE AN OFFER TODAY!

30. 2021-05-14
    historical
31. 2021-04-06
    price $129,000
32. 2021-03-26
    price $132,900
33. 2021-03-01
    price $135,900
34. 2021-02-18
    listed $139,900 Active
35. 2004-07-28
    soldstatus $73,900
36. 1990-05-01
    soldstatus $8,500,000

ⓘ 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: $2,913 · $243/mo
• Projected year-2 tax: $2,913 · $243/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 23 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,163
• − Mortgage interest: −$10,923
• − Property taxes: −$2,913
• − Insurance: −$975
• − Repairs & maintenance: −$2,893
• − Management: −$2,893
• − HOA: −$5,940
• − Depreciation: −$5,673
• Taxable income: $3,954
• Est. tax owed @ 24.0%: −$949
• After-tax cash flow: $5,521/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 — West Palm Beach

• Score: 82/100
• State rank: #75
• US rank: #1255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,698
• Household income: $67,967
• Rent vs Own: 62.5% rent · 37.5% own
• Severe rent burden: 2953.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 43% Black 32% Hispanic / Latino 17% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 3%
• Common ancestry: Hispanic 6% Slovak 2% Romanian 2%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 13% French/Haitian/Cajun 7% Other Asian/Pacific 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: ▼ -324.96%
• Current HPI: 367.0978
• Rent YoY: ▲ 5.15%
• 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

-97.7% since first listed

23 events — show timeline

• 2026-05-02 Listed $195,000 Beaches MLS
• 2026-03-30 Listing Removed — Beaches MLS
• 2025-10-02 Price Changed $195,000 Beaches MLS
• 2025-10-02 Rental Removed $2,150 RMLSFL
• 2025-09-11 Listed for Rent $2,150 RMLSFL
• 2025-09-10 Relisted — Beaches MLS
• 2025-09-01 Rental Removed $2,150 RMLSFL
• 2025-09-01 Listing Removed — Beaches MLS
• 2025-05-04 Listed for Rent $2,150 RMLSFL
• 2025-05-03 Listed $220,000 Beaches MLS
• 2021-08-05 Sold (Public Records) $122,000 Public Records
• 2021-08-02 Sold (MLS) $122,000 MARMLS
• 2021-07-10 Contingent — MARMLS
• 2021-06-27 Listing Removed — Beaches MLS
• 2021-06-26 Relisted — Beaches MLS
• 2021-06-26 Listed $139,900 MARMLS
• 2021-05-14 Listing Removed — Beaches MLS
• 2021-04-06 Price Changed $129,000 Beaches MLS
• 2021-03-26 Price Changed $132,900 Beaches MLS
• 2021-03-01 Price Changed $135,900 Beaches MLS
• 2021-02-18 Listed $139,900 Beaches MLS
• 2004-07-28 Sold (Public Records) $73,900 Public Records
• 1990-05-01 Sold (Public Records) $8,500,000 Public Records

Property tax history

+13.3%/yr

Latest (2025): $2,913 · +6.3% YoY. Source: county tax records.