1640 Presidential Way #403 · West Palm Beach, FL 33401

$259,000

2 bd · 2.0 ba · 1,344 sqft · Condo public records · 231 Days on market

Built 2004 $669/mo HOA · 19% 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 +20.1/30.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 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

Magnificent extremely large 2 bed 2 bath with golf course views. Open living/dining/kitchen. 42'' cherry cabinets with granite counters & stainless appliances and it's an eat-in kitchen. Large marble flooring throughout living area. Master w/ 3 closets; master bath w/ jacuzzi tub and separate shower + lots of storage. Spacious 2nd bedroom with its bathroom in the nearby hallway. Front hall closet and secondary closet near bedrooms. Full size washer/dryer. Hurricane glass and sliding doors. High ceilings. Balcony off living room. Amenties include: tropical pool, fitness center, sauna. Two parking spaces. Excellent central location near P. B. Outlet Mall, I95, restaurants & shopping.

Key facts

• Open floor plan
• Fourth floor unit
• Eat in kitchen

Tags

• FOURTH FLOOR UNIT
• OPEN FLOOR PLAN
• EAT IN KITCHEN
• STAINLESS STEEL APPLIANCES
• CHERRYWOOD CABINETS
• GRANITE COUNTERTOPS

Property features AI

Finance

• Other: Pets allowed
• HOA & community: Community amenities include elevator(s), fitness center, pool, and community room; HOA fees paid monthly

Exterior

• Parking: Guest parking available (directions reference guest parking area)
• Utilities: Public water; Three-phase electric; Water service available
• Home design: Condominium; Resale condition; Northeast facing; 1 story
• Construction: Built with other construction materials
• Exterior features: Not waterfront

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Marble flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Individual central cooling
• Interior features: Walk-in closets; Unfurnished
• Laundry & utility: Inside laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $259k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $259k).
• Recommended offer: $228k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $3,616/mo this rent would consume 64% of the median local household income ($68k/yr) (locally 2953% 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 $8k 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 231 days — a 12% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 7y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; list at $259k implies a 67% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $227,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 231 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.40% ✓
• Cap rate: 7.79%
• Cash-on-cash: 5.33%
• DSCR: 1.24
• GRM: 6.0

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: -4.6%
• Equity multiple: 0.82×
• Total profit: $-12,949
• Equity at exit: $38,618

10-year hold

• IRR: 8.2%
• Equity multiple: 1.71×
• Total profit: $51,483
• Equity at exit: $22,394

Cash invested: $72,520 (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: 6.0×

Monthly cashflow live

• Estimated rent: $3,616 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$399 /mo · $4,789/yr
• Insurance: −$108
• HOA: −$669
• Vacancy / Maint / Mgmt: −$759
• Net cashflow: $322

Break-even live

Break-even rent $3,208

Max offer price $259,000

Occupancy floor 86%

Sensitivity live

Price	-10% $469	-5% $395	+0% $322	+5% $249	+10% $176
Rent	-10% $37	-5% $179	+0% $322	+5% $465	+10% $608
Rate	-1.0pp $453	-0.5pp $388	base $322	+0.5pp $255	+1.0pp $187

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	25d	1	0.20mi
1900 Consulate Pl #1005 West Palm Beach, FL	2.0	2.0	1557	$4,900	$3.15	15d	1	0.35mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	16d	1	0.41mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	25d	1	0.45mi
2400 Presidential Way #1906 West Palm Beach, FL	1.0	2.0	1294	$3,000	$2.32	25d	1	0.50mi
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	25d	1	0.52mi
2450 Presidential Way #7 West Palm Beach, FL	2.0	2.0	1855	$4,700	$2.53	25d	1	0.58mi
2450 Presidential Way #7 West Palm Beach, FL	2.0	2.0	1855	$4,700	$2.53	3d	1	0.58mi
2480 Presidential Way #902 West Palm Beach, FL	2.0	2.0	1855	$4,650	$2.51	6d	1	0.61mi
2480 Presidential Way #1903 West Palm Beach, FL	2.0	2.0	1855	$4,650	$2.51	25d	1	0.61mi
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$2,705	$2.53	20d	19	0.74mi
1319 13th St West Palm Beach, FL	3.0	2.0	1215	$3,200	$2.63	25d	1	1.01mi
1104 State St Unit C West Palm Beach, FL	3.0	1.0	875	$3,000	$3.43	25d	1	1.32mi
921 8th St West Palm Beach, FL	3.0	1.0	1000	$3,395	$3.40	25d	1	1.46mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	25d	1	1.46mi
823 14th St West Palm Beach, FL	3.0	1.0	1000	$3,495	$3.50	25d	1	1.48mi

HOA detail condo

• Monthly dues: $669 · $8,028/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-18
   days on market $259,000 Active 231 DOM
2. 2026-06-17
   days on market $259,000 Active 230 DOM
3. 2026-06-16
   days on market $259,000 Active 229 DOM
4. 2026-06-15
   days on market $259,000 Active 228 DOM
5. 2026-06-13
   days on market $259,000 Active 226 DOM
6. 2026-06-10
   price $259,000 Active 222 DOM
7. 2026-06-09
   days on market $259,999 Active 222 DOM
8. 2026-06-07
   days on market $259,999 Active 220 DOM
9. 2026-06-04
   days on market $259,999 Active 217 DOM
10. 2026-06-03
    days on market $259,999 Active 216 DOM
11. 2026-06-01
    days on market $259,999 Active 214 DOM
12. 2026-05-31
    days on market $259,999 Active 213 DOM
13. 2026-04-16
    price $259,999
14. 2026-03-20
    price $269,999
15. 2026-02-09
    price $274,999
16. 2026-01-26
    price $277,999
17. 2026-01-06
    price $278,990
18. 2025-10-30
    listed $278,999 Active
19. 2025-02-26
    historical $2,275
20. 2025-02-16
    listed $2,275
21. 2025-02-14
    historical $2,275
22. 2025-02-12
    listed $2,275
23. 2025-02-12
    historical $2,275
24. 2025-02-11
    listed $2,275
25. 2025-01-31
    historical
26. 2025-01-05
    price $259,000
27. 2024-11-13
    price $289,000
28. 2024-10-16
    listed $293,900 Active
29. 2021-04-08
    soldstatus $155,000
30. 2021-03-25
    soldstatus $155,000 Closed 702-char remark

    Show marketing remark (702 chars)

    Magnificent extremely large 2 bed 2 bath with golf course views. Open living/dining/kitchen. 42'' cherry cabinets with granite counters & stainless appliances and it's an eat-in kitchen. Large marble flooring throughout living area. Master w/ 3 closets; master bath w/ jacuzzi tub and separate shower + lots of storage. Spacious 2nd bedroom with its bathroom in the nearby hallway. Front hall closet and secondary closet near bedrooms. Full size washer/dryer. Hurricane glass and sliding doors. High ceilings. Balcony off living room. Amenties include: tropical pool, fitness center, sauna. Two parking spaces. Excellent central location near P. B. Outlet Mall, I95, restaurants & shopping.

31. 2021-02-23
    status Pending 702-char remark

    Show marketing remark (702 chars)

    Magnificent extremely large 2 bed 2 bath with golf course views. Open living/dining/kitchen. 42'' cherry cabinets with granite counters & stainless appliances and it's an eat-in kitchen. Large marble flooring throughout living area. Master w/ 3 closets; master bath w/ jacuzzi tub and separate shower + lots of storage. Spacious 2nd bedroom with its bathroom in the nearby hallway. Front hall closet and secondary closet near bedrooms. Full size washer/dryer. Hurricane glass and sliding doors. High ceilings. Balcony off living room. Amenties include: tropical pool, fitness center, sauna. Two parking spaces. Excellent central location near P. B. Outlet Mall, I95, restaurants & shopping.

32. 2021-02-17
    status Active 702-char remark

    Show marketing remark (702 chars)

    Magnificent extremely large 2 bed 2 bath with golf course views. Open living/dining/kitchen. 42'' cherry cabinets with granite counters & stainless appliances and it's an eat-in kitchen. Large marble flooring throughout living area. Master w/ 3 closets; master bath w/ jacuzzi tub and separate shower + lots of storage. Spacious 2nd bedroom with its bathroom in the nearby hallway. Front hall closet and secondary closet near bedrooms. Full size washer/dryer. Hurricane glass and sliding doors. High ceilings. Balcony off living room. Amenties include: tropical pool, fitness center, sauna. Two parking spaces. Excellent central location near P. B. Outlet Mall, I95, restaurants & shopping.

33. 2021-02-10
    status Pending 702-char remark

    Show marketing remark (702 chars)

    Magnificent extremely large 2 bed 2 bath with golf course views. Open living/dining/kitchen. 42'' cherry cabinets with granite counters & stainless appliances and it's an eat-in kitchen. Large marble flooring throughout living area. Master w/ 3 closets; master bath w/ jacuzzi tub and separate shower + lots of storage. Spacious 2nd bedroom with its bathroom in the nearby hallway. Front hall closet and secondary closet near bedrooms. Full size washer/dryer. Hurricane glass and sliding doors. High ceilings. Balcony off living room. Amenties include: tropical pool, fitness center, sauna. Two parking spaces. Excellent central location near P. B. Outlet Mall, I95, restaurants & shopping.

34. 2021-01-18
    historical Contingent 702-char remark

    Show marketing remark (702 chars)

    Magnificent extremely large 2 bed 2 bath with golf course views. Open living/dining/kitchen. 42'' cherry cabinets with granite counters & stainless appliances and it's an eat-in kitchen. Large marble flooring throughout living area. Master w/ 3 closets; master bath w/ jacuzzi tub and separate shower + lots of storage. Spacious 2nd bedroom with its bathroom in the nearby hallway. Front hall closet and secondary closet near bedrooms. Full size washer/dryer. Hurricane glass and sliding doors. High ceilings. Balcony off living room. Amenties include: tropical pool, fitness center, sauna. Two parking spaces. Excellent central location near P. B. Outlet Mall, I95, restaurants & shopping.

35. 2020-11-18
    listed $159,900 Active 702-char remark

    Show marketing remark (702 chars)

    Magnificent extremely large 2 bed 2 bath with golf course views. Open living/dining/kitchen. 42'' cherry cabinets with granite counters & stainless appliances and it's an eat-in kitchen. Large marble flooring throughout living area. Master w/ 3 closets; master bath w/ jacuzzi tub and separate shower + lots of storage. Spacious 2nd bedroom with its bathroom in the nearby hallway. Front hall closet and secondary closet near bedrooms. Full size washer/dryer. Hurricane glass and sliding doors. High ceilings. Balcony off living room. Amenties include: tropical pool, fitness center, sauna. Two parking spaces. Excellent central location near P. B. Outlet Mall, I95, restaurants & shopping.

36. 2019-07-18
    historical
37. 2019-05-06
    listed $149,900 Active

ⓘ 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: $4,789 · $399/mo
• Projected year-2 tax: $4,789 · $399/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 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,388
• − Mortgage interest: −$14,508
• − Property taxes: −$4,789
• − Insurance: −$1,295
• − Repairs & maintenance: −$3,471
• − Management: −$3,471
• − HOA: −$8,028
• − Depreciation: −$7,535
• Taxable income: $291
• Est. tax owed @ 24.0%: −$70
• After-tax cash flow: $3,796/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

+73.4% since first listed

25 events — show timeline

• 2026-04-16 Price Changed $259,999 Beaches MLS
• 2026-03-20 Price Changed $269,999 Beaches MLS
• 2026-02-09 Price Changed $274,999 Beaches MLS
• 2026-01-26 Price Changed $277,999 Beaches MLS
• 2026-01-06 Price Changed $278,990 Beaches MLS
• 2025-10-30 Listed $278,999 Beaches MLS
• 2025-02-26 Rental Removed $2,275 RMLSFL
• 2025-02-16 Listed for Rent $2,275 RMLSFL
• 2025-02-14 Rental Removed $2,275 RENTLY
• 2025-02-12 Listed for Rent $2,275 RENTLY
• 2025-02-12 Rental Removed $2,275 RENTEC
• 2025-02-11 Listed for Rent $2,275 RENTEC
• 2025-01-31 Listing Removed — Beaches MLS
• 2025-01-05 Price Changed $259,000 Beaches MLS
• 2024-11-13 Price Changed $289,000 Beaches MLS
• 2024-10-16 Listed $293,900 Beaches MLS
• 2021-04-08 Sold (Public Records) $155,000 Public Records
• 2021-03-25 Sold (MLS) $155,000 Beaches MLS
• 2021-02-23 Pending — Beaches MLS
• 2021-02-17 Relisted — Beaches MLS
• 2021-02-10 Pending — Beaches MLS
• 2021-01-18 Contingent — Beaches MLS
• 2020-11-18 Listed $159,900 Beaches MLS
• 2019-07-18 Listing Removed — Beaches MLS
• 2019-05-06 Listed $149,900 Beaches MLS

Property tax history

+8.2%/yr

Latest (2025): $4,789 · +7.8% YoY. Source: county tax records.