725 Hummingbird Way #212 · North Palm Beach, FL 33408

$258,500

2 bd · 1.0 ba · 842 sqft · Condo public records · 73 Days on market

Built 1972 $652/mo HOA · 18% 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 +23.0/30.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Waterfront. .. Bring your boat up to 21'! Two slips are now available for condo owners. Spectacular waterfront views right from your front door. This 2/1 Condo is carefree living. Enjoy your 25' private balcony surrounded by greenery. Located in North Palm Beach. Close to many restaurants and shops. Come see this amazing piece of paradise! No renting for the first 6 months.

Key facts

• Overlooks pool
• Overlooks river
• Updated kitchen

Tags

• UPDATED KITCHEN
• OVERLOOKS POOL
• OVERLOOKS RIVER

Property features AI

Finance

• Financial info: Lease considered; Pets allowed with restrictions
• HOA & community: Monthly association fee ($652); Association covers common areas, insurance, laundry, grounds maintenance and pool(s); Community boat dock

Exterior

• Parking: One assigned parking space; 180 covered spaces available
• Utilities: Electric water heater
• Home design: Attached property; 2 stories; Second-floor entry; Has a view; Canal-front waterfront
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony/porch

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Icemaker; Electric water heater
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: Partially furnished; Second-floor entry; Combined living and dining area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $258k.

Deal economics

• At list price, monthly cash flow is $459 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $258k).
• Recommended offer: $243k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#184 in FL, #2,894 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living D-.
• 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: Teen Parent Program - Pk (19 students, 0% FRL); Howell L. Watkins Middle School (math 18% / reading 33%, grade F, #512 of 571 statewide, top 90%, 794 students, 76% FRL); Palm Beach Gardens High School (math 19% / reading 40%, grade F, #447 of 667 statewide, top 68%, 2,570 students, 61% FRL).
• Zoned-school proficiency averages 28% at this address vs 50% district-wide (-22 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 flat; 404 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $3,608/mo this rent would consume 47% of the median local household income ($92k/yr) (locally 835% 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 73 days — a 6% lower offer ($243k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 15y ago; this cycle's ask is 9132% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,990 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.40% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.61%
• DSCR: 1.34
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.27% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.70×
• Total profit: $-21,888
• Equity at exit: $38,543

10-year hold

• IRR: -4.3%
• Equity multiple: 0.76×
• Total profit: $-17,181
• Equity at exit: $22,350

Cash invested: $72,380 (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 33408

• Rents YoY: 0.3%
• Active inventory: 404
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $3,608 high
• Mortgage (P&I): −$1,356
• Tax from tax record: −$276 /mo · $3,310/yr
• Insurance: −$108
• HOA: −$652
• Vacancy / Maint / Mgmt: −$758
• Net cashflow: $459

Break-even live

Break-even rent $3,027

Max offer price $258,500

Occupancy floor 82%

Sensitivity live

Price	-10% $605	-5% $532	+0% $459	+5% $386	+10% $312
Rent	-10% $174	-5% $316	+0% $459	+5% $601	+10% $744
Rate	-1.0pp $589	-0.5pp $525	base $459	+0.5pp $392	+1.0pp $324

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: $64,625
• Closing costs: $7,755
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
624 Southwind Cir #2 North Palm Beach, FL	2.0	2.0	718	$3,750	$5.22	26d	1	0.15mi
308 Southwind Ct Unit 8 North Palm Beach, FL	2.0	2.0	1100	$2,900	$2.64	26d	1	0.31mi
2545 Conroy Dr West Palm Beach, FL	3.0	2.0	1066	$3,295	$3.09	26d	1	0.34mi
913 Lighthouse Dr North Palm Beach, FL	3.0	2.5	1092	$5,900	$5.40	26d	1	0.62mi
526 Eastwind Dr Unit 526 North Palm Beach, FL	2.0	1.0	840	$3,995	$4.76	26d	1	0.66mi
522 Eastwind Dr North Palm Beach, FL	2.0	2.0	948	$3,995	$4.21	26d	1	0.67mi
524 Eastwind Dr Unit 524 North Palm Beach, FL	2.0	1.0	774	$3,995	$5.16	26d	1	0.67mi
913 Lake Shore Dr Lake Park, FL	1.0–2.0	1.0–2.0	1066	$3,731	$3.50	1d	10	1.21mi
20 Yacht Club Dr #405 North Palm Beach, FL	2.0	2.0	1010	$3,000	$2.97	26d	1	1.36mi
901 W 37th St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	26d	1	1.41mi

HOA detail condo

• Monthly dues: $652 · $7,824/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-21
   days on market $258,500 Active 73 DOM
2. 2026-06-18
   days on market $258,500 Active 70 DOM
3. 2026-06-17
   days on market $258,500 Active 69 DOM
4. 2026-06-16
   days on market $258,500 Active 68 DOM
5. 2026-06-15
   days on market $258,500 Active 67 DOM
6. 2026-06-13
   days on market $258,500 Active 65 DOM
7. 2026-06-09
   days on market $258,500 Active 61 DOM
8. 2026-06-08
   days on market $258,500 Active 60 DOM
9. 2026-06-07
   days on market $258,500 Active 59 DOM
10. 2026-06-04
    days on market $258,500 Active 56 DOM
11. 2026-06-03
    days on market $258,500 Active 55 DOM
12. 2026-06-02
    days on market $258,500 Active 54 DOM
13. 2026-06-01
    days on market $258,500 Active 53 DOM
14. 2026-05-31
    days on market $258,500 Active 52 DOM
15. 2026-04-09
    listed $2,800
16. 2026-04-08
    listed $265,000 Active
17. 2025-11-02
    historical $2,500
18. 2025-04-24
    listed $2,500
19. 2025-02-18
    historical $2,800
20. 2024-09-13
    listed $2,800
21. 2022-07-08
    soldstatus $253,000
22. 2022-07-05
    soldstatus $253,000 Closed 377-char remark

    Show marketing remark (377 chars)

    Waterfront. .. Bring your boat up to 21'! Two slips are now available for condo owners. Spectacular waterfront views right from your front door. This 2/1 Condo is carefree living. Enjoy your 25' private balcony surrounded by greenery. Located in North Palm Beach. Close to many restaurants and shops. Come see this amazing piece of paradise! No renting for the first 6 months.

23. 2022-06-08
    historical Active Under Contract 377-char remark

    Show marketing remark (377 chars)

    Waterfront. .. Bring your boat up to 21'! Two slips are now available for condo owners. Spectacular waterfront views right from your front door. This 2/1 Condo is carefree living. Enjoy your 25' private balcony surrounded by greenery. Located in North Palm Beach. Close to many restaurants and shops. Come see this amazing piece of paradise! No renting for the first 6 months.

24. 2022-05-29
    listed $259,000 Active 377-char remark

    Show marketing remark (377 chars)

    Waterfront. .. Bring your boat up to 21'! Two slips are now available for condo owners. Spectacular waterfront views right from your front door. This 2/1 Condo is carefree living. Enjoy your 25' private balcony surrounded by greenery. Located in North Palm Beach. Close to many restaurants and shops. Come see this amazing piece of paradise! No renting for the first 6 months.

25. 2020-08-18
    soldstatus $143,500
26. 2011-09-09
    soldstatus $62,500
27. 2011-09-01
    soldstatus $62,500 802-char remark

    Show marketing remark (802 chars)

    One of a kind! Totally remodeled unit. Nothing has been spared to make this unit spectacular. Everything has been updated including the AC unit. This is not a short sale. This is a rare chance to have a 2 bedroom condo on the Erman River with no fixed bridges and less than ? mile from the Intracoastal waterway. Many full service marinas are in close proximity to this location, with full service, boat storage, and boat launch. You can even leave your boat at the dock overnight. The dock with accommodate 2-3 boats depending on their length. The property has a beautiful front view overlooking the pool and the canal. The property has been completely renovated. Fresh knockdown texture on the walls with fresh paint in all the rooms and bedrooms. The kitchen ha. .. (see supplement for full remarks)

28. 2011-08-29
    historical 802-char remark

    Show marketing remark (802 chars)

    One of a kind! Totally remodeled unit. Nothing has been spared to make this unit spectacular. Everything has been updated including the AC unit. This is not a short sale. This is a rare chance to have a 2 bedroom condo on the Erman River with no fixed bridges and less than ? mile from the Intracoastal waterway. Many full service marinas are in close proximity to this location, with full service, boat storage, and boat launch. You can even leave your boat at the dock overnight. The dock with accommodate 2-3 boats depending on their length. The property has a beautiful front view overlooking the pool and the canal. The property has been completely renovated. Fresh knockdown texture on the walls with fresh paint in all the rooms and bedrooms. The kitchen ha. .. (see supplement for full remarks)

29. 2011-06-24
    listed $61,900 802-char remark

    Show marketing remark (802 chars)

    One of a kind! Totally remodeled unit. Nothing has been spared to make this unit spectacular. Everything has been updated including the AC unit. This is not a short sale. This is a rare chance to have a 2 bedroom condo on the Erman River with no fixed bridges and less than ? mile from the Intracoastal waterway. Many full service marinas are in close proximity to this location, with full service, boat storage, and boat launch. You can even leave your boat at the dock overnight. The dock with accommodate 2-3 boats depending on their length. The property has a beautiful front view overlooking the pool and the canal. The property has been completely renovated. Fresh knockdown texture on the walls with fresh paint in all the rooms and bedrooms. The kitchen ha. .. (see supplement for full remarks)

30. 2001-05-05
    soldstatus $47,500
31. 1987-12-01
    soldstatus $48,900

ⓘ 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: $3,310 · $276/mo
• Projected year-2 tax: $3,310 · $276/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 6/10 Major FEMA zone X (unshaded) · 95% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,290
• − Mortgage interest: −$14,480
• − Property taxes: −$3,310
• − Insurance: −$1,292
• − Repairs & maintenance: −$3,463
• − Management: −$3,463
• − HOA: −$7,824
• − Depreciation: −$7,520
• Taxable income: $1,937
• Est. tax owed @ 24.0%: −$465
• After-tax cash flow: $5,041/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 — North Palm Beach

• Score: 77/100
• State rank: #184
• US rank: #2894

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 18,817
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 18,817
• Household income: $92,216
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 835.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 7% Black 1% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 4% Slovak 3% Romanian 3%
• Foreign-born: 11% · Canada, Jamaica, Guatemala
• Languages at home: 89% English-only · Spanish 7% Other Indo-European 1% French/Haitian/Cajun 1%

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: ▼ -223.14%
• Current HPI: 365.2913
• Rent YoY: ▲ 0.27%
• 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

-94.3% since first listed

17 events — show timeline

• 2026-04-09 Listed for Rent $2,800 MARMLS
• 2026-04-08 Listed $265,000 MARMLS
• 2025-11-02 Rental Removed $2,500 MARMLS
• 2025-04-24 Listed for Rent $2,500 MARMLS
• 2025-02-18 Rental Removed $2,800 MARMLS
• 2024-09-13 Listed for Rent $2,800 MARMLS
• 2022-07-08 Sold (Public Records) $253,000 Public Records
• 2022-07-05 Sold (MLS) $253,000 Beaches MLS
• 2022-06-08 Contingent — Beaches MLS
• 2022-05-29 Listed $259,000 Beaches MLS
• 2020-08-18 Sold (Public Records) $143,500 Public Records
• 2011-09-09 Sold (Public Records) $62,500 Public Records
• 2011-09-01 Sold (MLS) $62,500 Beaches MLS
• 2011-08-29 Listing Removed — Beaches MLS
• 2011-06-24 Listed $61,900 Beaches MLS
• 2001-05-05 Sold (Public Records) $47,500 Public Records
• 1987-12-01 Sold (Public Records) $48,900 Public Records

Property tax history

+12.6%/yr

Latest (2025): $3,310 · -7.9% YoY. Source: county tax records.