148 Yacht Club Dr #5 · North Palm Beach, FL 33408

$133,000

1 bd · 1.0 ba · 750 sqft · Condo public records · 69 Days on market

Built 1964 $801/mo HOA · 25% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Flexible rental policy with no ownership waiting period; 90-day minimum lease.

Key facts

• $801 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets allowed (cats and dogs; number limit applies)
• HOA & community: Association with monthly fee; Association amenities include pool, laundry, sidewalks, and street lights; HOA fee covers cable TV, insurance, grounds maintenance, pest control, trash, common areas, common real estate tax, and recreation facility

Exterior

• Parking: Assigned parking (1 space, open)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Multi-level (multi/split); Entry level living area; Faces west; Resale property
• Construction: CBS construction; Concrete and tile roof
• Exterior features: Open patio; Patio; Fenced lot; Cul-de-sac location; Corner lot; Sidewalks; Marina nearby

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Concrete flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Electric heating (central individual); Central air conditioning (electric, central individual)
• Interior features: Walk-in closets; Closet cabinetry; Storm windows
• Laundry & utility: Laundry available through association

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $133k.

Deal economics

• At list price, monthly cash flow is $896 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $133k).
• Recommended offer: $125k (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: 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 schools average 69% FRL vs 52% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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; 403 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $920 of loan paydown is wiped out by about $4k 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 + 0.3% rent growth), your $37k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $46k; list at $133k implies a 189% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: major flood risk; 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 $125,020 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 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 1964 — 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: 2.37% ✓
• Cap rate: 14.37%
• Cash-on-cash: 28.86%
• DSCR: 2.28
• GRM: 3.5

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: 19.1%
• Equity multiple: 1.74×
• Total profit: $27,522
• Equity at exit: $19,831

10-year hold

• IRR: 24.7%
• Equity multiple: 2.79×
• Total profit: $66,525
• Equity at exit: $11,499

Cash invested: $37,240 (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: 403
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $3,156 high
• Mortgage (P&I): −$697
• Tax from tax record: −$43 /mo · $521/yr
• Insurance: −$55
• HOA: −$801
• Vacancy / Maint / Mgmt: −$663
• Net cashflow: $896

Break-even live

Break-even rent $2,022

Max offer price $133,000

Occupancy floor 67%

Sensitivity live

Price	-10% $971	-5% $933	+0% $896	+5% $858	+10% $820
Rent	-10% $646	-5% $771	+0% $896	+5% $1,020	+10% $1,145
Rate	-1.0pp $963	-0.5pp $930	base $896	+0.5pp $861	+1.0pp $826

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: $33,250
• Closing costs: $3,990
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Yacht Club Dr #405 North Palm Beach, FL	2.0	2.0	1010	$3,000	$2.97	25d	1	0.25mi
700 Sanctuary Cove Dr West Palm Beach, FL	1.0–3.0	1.0–2.0	1120	$2,016	$1.80	0d	55	0.90mi
526 Eastwind Dr Unit 526 North Palm Beach, FL	2.0	1.0	840	$3,995	$4.76	25d	1	0.98mi
524 Eastwind Dr Unit 524 North Palm Beach, FL	2.0	1.0	774	$3,995	$5.16	25d	1	0.98mi
522 Eastwind Dr North Palm Beach, FL	2.0	2.0	948	$3,995	$4.21	25d	1	0.98mi
624 Southwind Cir #2 North Palm Beach, FL	2.0	2.0	718	$3,750	$5.22	25d	1	1.15mi
2100 PGA Blvd Palm Beach Gardens, FL	1.0–2.0	1.0–2.0	983	$2,620	$2.66	0d	9	1.17mi
308 Southwind Ct Unit 8 North Palm Beach, FL	2.0	2.0	1100	$2,900	$2.64	25d	1	1.26mi
2396 Easy St Unit A Palm Beach Gardens, FL	2.0	1.0	948	$3,500	$3.69	25d	1	1.27mi

HOA detail condo

• Monthly dues: $801 · $9,612/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-21
   days on market $133,000 Active 69 DOM
2. 2026-06-18
   days on market $133,000 Active 66 DOM
3. 2026-06-17
   days on market $133,000 Active 65 DOM
4. 2026-06-16
   days on market $133,000 Active 64 DOM
5. 2026-06-15
   days on market $133,000 Active 63 DOM
6. 2026-06-13
   days on market $133,000 Active 61 DOM
7. 2026-06-09
   days on market $133,000 Active 57 DOM
8. 2026-06-08
   days on market $133,000 Active 56 DOM
9. 2026-06-07
   days on market $133,000 Active 55 DOM
10. 2026-06-04
    days on market $133,000 Active 52 DOM
11. 2026-06-03
    days on market $133,000 Active 51 DOM
12. 2026-06-02
    days on market $133,000 Active 50 DOM
13. 2026-06-01
    days on market $133,000 Active 49 DOM
14. 2026-05-31
    days on market $133,000 Active 48 DOM
15. 2026-04-12
    listed $133,000 Active
16. 2026-03-22
    historical
17. 2026-01-30
    price $134,000
18. 2025-11-26
    price $139,999
19. 2025-11-08
    price $145,000
20. 2025-10-20
    price $147,999
21. 2025-10-04
    price $150,000
22. 2025-09-18
    listed $155,000 Active
23. 2025-09-12
    historical
24. 2025-06-05
    price $160,000
25. 2025-04-30
    price $170,000
26. 2025-03-11
    listed $180,000 Active
27. 1983-10-01
    soldstatus $46,000

ⓘ 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: $521 · $43/mo
• Projected year-2 tax: $1,104 · $92/mo
• Expected delta: +$583/yr (+$49/mo · 111.7%)

ⓘ 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) · 54% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,869
• − Mortgage interest: −$7,450
• − Property taxes: −$521
• − Insurance: −$665
• − Repairs & maintenance: −$3,030
• − Management: −$3,030
• − HOA: −$9,612
• − Depreciation: −$3,869
• Taxable income: $9,692
• Est. tax owed @ 24.0%: −$2,326
• After-tax cash flow: $8,422/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

+189.1% since first listed

13 events — show timeline

• 2026-04-12 Listed $133,000 Beaches MLS
• 2026-03-22 Listing Removed — Beaches MLS
• 2026-01-30 Price Changed $134,000 Beaches MLS
• 2025-11-26 Price Changed $139,999 Beaches MLS
• 2025-11-08 Price Changed $145,000 Beaches MLS
• 2025-10-20 Price Changed $147,999 Beaches MLS
• 2025-10-04 Price Changed $150,000 Beaches MLS
• 2025-09-18 Listed $155,000 Beaches MLS
• 2025-09-12 Listing Removed — Beaches MLS
• 2025-06-05 Price Changed $160,000 Beaches MLS
• 2025-04-30 Price Changed $170,000 Beaches MLS
• 2025-03-11 Listed $180,000 Beaches MLS
• 1983-10-01 Sold (Public Records) $46,000 Public Records

Property tax history

-0.4%/yr

Latest (2025): $521 · +6.5% YoY. Source: county tax records.