187 Stratford N #187 · West Palm Beach, FL 33417

$69,000

1 bd · 1.5 ba · 740 sqft · Condo · 28 Days on market

Built 1970 $500/mo HOA · 35% 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 +24.9/30.0
• 1% rule +10.0/10.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT OPPORTUNITY TO BUY A FIRST FLOOR UNIT NEAR THE LAKE WITH CENTRAL AIR! FULL BATH IN BEDROOM AND HALF BATH IN HALLWAY. NEW ROOF ON BUILDING. CONDO AWAITS YOUR PERSONALIZED TOUCHES

Key facts

• Gated community
• Brand new appliances
• 24-hour security

Tags

• BRAND NEW APPLIANCES
• CERAMIC TILE FLOORING
• CENTRAL AIR CONDITIONING
• EN-SUITE BATHROOM
• GATED COMMUNITY
• 24-HOUR SECURITY

Property features AI

Finance

• Other: Senior community
• Financial info: Pets allowed (restrictions possible); Large community with many units
• HOA & community: Stratford N Condo Association (monthly HOA fee); Monthly association fee: $250; HOA fee includes cable TV, insurance, grounds maintenance, pest control, security, sewer, trash, water, common areas, common real estate tax, recreation facility, and pool service; Community amenities: clubhouse, fitness center, indoor heated pool, outdoor pool, sauna, billiard/game rooms, library, hobby/workshop areas, bocce, pickleball and tennis courts, shuffleboard, sidewalks, street lights, picnic areas, courtesy bus, gated/security, recreation facilities, parking, management, laundry, community room

Exterior

• Parking: Assigned parking; Guest parking; Open parking; Permit-required parking; One open parking space
• Security: Gated community; Security guard; Security patrol; Security fence; Security gate; Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity available; Cable available
• Home design: Condominium; One level (unit entry at level 1); Building faces west; Stratford N building, 2-story community
• Construction: Stucco/CBS construction; Composition shingle roof; Entry level: 1; Built as resale property
• Exterior features: Covered patio; Screened patio; Patio; Paved road frontage; Publicly maintained road; Not waterfront

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fan(s)
• Interior features: Walk-in closet(s); Single-hung metal windows
• Laundry & utility: Laundry available in building (community laundry)

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $69k.

Deal economics

• At list price, monthly cash flow is $149 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $68k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: Grassy Waters Elementary School (math 43% / reading 48%, grade D-, #1,247 of 2,144 statewide, top 59%, 739 students, 64% FRL); Bear Lakes Middle School (math 19% / reading 33%, grade F, #506 of 571 statewide, top 89%, 842 students, 74% 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 69% FRL vs 52% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 50% district-wide (-18 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; 473 active listings in the ZIP; 40 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k 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 28 days — a 2% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y ago; this cycle's ask is 5291% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $52k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.
• 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 $67,965 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.07% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.25%
• DSCR: 1.41
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.02% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.71×
• Total profit: $-5,512
• Equity at exit: $10,288

10-year hold

• IRR: -8.0%
• Equity multiple: 0.62×
• Total profit: $-7,287
• Equity at exit: $5,966

Cash invested: $19,320 (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 33417

• Home prices YoY: -29.2%
• Rents YoY: 0.0%
• Active inventory: 473
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,425 high
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$500
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $149

Break-even live

Break-even rent $1,237

Max offer price $69,000

Occupancy floor 85%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 Stratford N West Palm Beach, FL	1.0	1.5	740	$1,600	$2.16	19d	1	0.10mi
294 Chatham S Unit O West Palm Beach, FL	1.0	1.0	645	$1,300	$2.02	24d	1	0.20mi
358 Chatham R Unit R West Palm Beach, FL	1.0	1.5	684	$1,200	$1.75	19d	1	0.21mi
358 Chatham R Unit R West Palm Beach, FL	1.0	1.5	684	$1,295	$1.89	24d	1	0.21mi
51 Dorchester E Unit 51 West Palm Beach, FL	1.0	1.0	570	$1,400	$2.46	24d	1	0.31mi
145 Dorchester E Unit 145 West Palm Beach, FL	1.0	1.5	646	$1,300	$2.01	8d	1	0.33mi
49 Cambridge B Unit B West Palm Beach, FL	1.0	1.5	684	$1,450	$2.12	24d	1	0.39mi
49 Cambridge B Unit B West Palm Beach, FL	1.0	1.5	684	$1,350	$1.97	3d	1	0.39mi
17 Cambridge a West Palm Beach, FL	1.0	1.5	684	$1,200	$1.75	24d	1	0.39mi
142 Kent I West Palm Beach, FL	1.0	1.5	684	$1,475	$2.16	24d	1	0.40mi
118 Kent H West Palm Beach, FL	1.0	1.0	570	$1,325	$2.32	24d	1	0.41mi
11 Cambridge E Unit 11 West Palm Beach, FL	1.0	1.5	684	$1,500	$2.19	24d	1	0.42mi
107 Kent St Unit 107* West Palm Beach, FL	1.0	1.0	570	$1,500	$2.63	24d	1	0.44mi
188 Cambridge H Unit H West Palm Beach, FL	1.0	1.5	684	$1,345	$1.97	5d	1	0.44mi
210 Canterbury E Unit 1 West Palm Beach, FL	1.0	1.0	570	$1,375	$2.41	13d	1	0.47mi
175 Canterbury H #175 West Palm Beach, FL	1.0	1.0	570	$1,250	$2.19	15d	1	0.48mi
204 Canterbury I Unit I West Palm Beach, FL	1.0	1.0	570	$1,350	$2.37	24d	1	0.48mi
201 Canterbury I Unit I West Palm Beach, FL	1.0	1.0	570	$1,250	$2.19	24d	1	0.48mi
22 Andover a West Palm Beach, FL	1.0	1.5	684	$1,375	$2.01	24d	1	0.48mi
34 Andover B West Palm Beach, FL	1.0	1.0	532	$1,250	$2.35	8d	1	0.51mi
150 Bedford E West Palm Beach, FL	1.0	1.0	570	$1,375	$2.41	8d	1	0.52mi
100 Andover D West Palm Beach, FL	1.0	1.5	684	$1,400	$2.05	24d	1	0.54mi
333 Northampton Q Unit 333 West Palm Beach, FL	1.0	1.0	570	$1,300	$2.28	24d	1	0.55mi
92 Berkshire Cres Unit 92 West Palm Beach, FL	1.0	1.0	615	$1,350	$2.20	24d	1	0.56mi
3 Berkshire a West Palm Beach, FL	1.0	1.0	585	$1,900	$3.25	24d	1	0.56mi
89 Berkshire D #89 West Palm Beach, FL	1.0	1.0	585	$1,150	$1.97	24d	1	0.56mi
89 Berkshire D #89 West Palm Beach, FL	1.0	1.0	585	$1,050	$1.79	8d	1	0.56mi
216 Berkshire K Unit K West Palm Beach, FL	1.0	1.0	585	$1,400	$2.39	21d	1	0.57mi
132 Andover F Unit 132 West Palm Beach, FL	1.0	1.5	684	$1,400	$2.05	24d	1	0.57mi
235 Northampton L #235 West Palm Beach, FL	1.0	1.0	615	$1,300	$2.11	11d	1	0.57mi
231 Berkshire K #231 West Palm Beach, FL	1.0	1.0	585	$1,150	$1.97	3d	1	0.58mi
325 Andover E West Palm Beach, FL	1.0	1.0	532	$1,450	$2.73	24d	1	0.58mi
220 Berkshire K #220 West Palm Beach, FL	1.0	1.0	585	$1,300	$2.22	21d	1	0.59mi
166 Sussex I Unit I West Palm Beach, FL	1.0	1.0	570	$1,500	$2.63	24d	1	0.59mi
172 Sussex I Unit I West Palm Beach, FL	1.0	1.0	570	$1,500	$2.63	24d	1	0.59mi
4 Sussex a West Palm Beach, FL	1.0	1.0	615	$1,350	$2.20	15d	1	0.59mi
176 Sussex I Unit I West Palm Beach, FL	1.0	1.0	570	$1,400	$2.46	18d	1	0.59mi
176 Sussex I Unit I West Palm Beach, FL	1.0	1.0	570	$1,400	$2.46	24d	1	0.59mi
159 Sussex H West Palm Beach, FL	1.0	1.0	570	$1,350	$2.37	24d	1	0.59mi
326 Andover E West Palm Beach, FL	1.0	1.5	684	$1,490	$2.18	24d	1	0.60mi

HOA detail condo

• Monthly dues: $500 · $6,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $69,000 Active 28 DOM
2. 2026-06-17
   days on market $69,000 Active 27 DOM
3. 2026-06-16
   days on market $69,000 Active 26 DOM
4. 2026-06-15
   days on market $69,000 Active 25 DOM
5. 2026-06-09
   days on market $69,000 Active 22 DOM
6. 2026-06-08
   days on market $69,000 Active 21 DOM
7. 2026-06-07
   days on market $69,000 Active 20 DOM
8. 2026-06-04
   days on market $69,000 Active 17 DOM
9. 2026-06-03
   days on market $69,000 Active 16 DOM
10. 2026-06-02
    statusdays on market $69,000 Active 15 DOM
11. 2026-06-01
    days on market $69,000 Active Under Contract 14 DOM
12. 2026-05-31
    days on market $69,000 Active Under Contract 13 DOM
13. 2026-05-21
    price $69,000
14. 2026-05-19
    listed $1,280
15. 2026-05-18
    listed $72,000 Active
16. 2005-11-22
    soldstatus $52,000 183-char remark

    Show marketing remark (183 chars)

    GREAT OPPORTUNITY TO BUY A FIRST FLOOR UNIT NEAR THE LAKE WITH CENTRAL AIR! FULL BATH IN BEDROOM AND HALF BATH IN HALLWAY. NEW ROOF ON BUILDING. CONDO AWAITS YOUR PERSONALIZED TOUCHES

17. 2005-08-01
    historical 183-char remark

    Show marketing remark (183 chars)

    GREAT OPPORTUNITY TO BUY A FIRST FLOOR UNIT NEAR THE LAKE WITH CENTRAL AIR! FULL BATH IN BEDROOM AND HALF BATH IN HALLWAY. NEW ROOF ON BUILDING. CONDO AWAITS YOUR PERSONALIZED TOUCHES

18. 2005-06-05
    listed $65,000 183-char remark

    Show marketing remark (183 chars)

    GREAT OPPORTUNITY TO BUY A FIRST FLOOR UNIT NEAR THE LAKE WITH CENTRAL AIR! FULL BATH IN BEDROOM AND HALF BATH IN HALLWAY. NEW ROOF ON BUILDING. CONDO AWAITS YOUR PERSONALIZED TOUCHES

19. 2004-05-25
    soldstatus $35,000 116-char remark

    Show marketing remark (116 chars)

    VERY NICE UNIT, WALK TO CLUBHOUSE, EAST GATE AND TEMPLE - A/C 2 YRS OLD PRIVATE POOL - GROUND FLOOR WITH CENTRAL AIR

20. 2004-04-26
    historical 116-char remark

    Show marketing remark (116 chars)

    VERY NICE UNIT, WALK TO CLUBHOUSE, EAST GATE AND TEMPLE - A/C 2 YRS OLD PRIVATE POOL - GROUND FLOOR WITH CENTRAL AIR

21. 2004-02-21
    listed $36,000 116-char remark

    Show marketing remark (116 chars)

    VERY NICE UNIT, WALK TO CLUBHOUSE, EAST GATE AND TEMPLE - A/C 2 YRS OLD PRIVATE POOL - GROUND FLOOR WITH CENTRAL AIR

22. 2002-09-13
    soldstatus $19,500
23. 2002-08-13
    historical
24. 2001-11-14
    listed $19,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $17,101
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,368
• − Management: −$1,368
• − HOA: −$6,000
• − Depreciation: −$2,007
• Taxable income: $1,113
• Est. tax owed @ 24.0%: −$267
• After-tax cash flow: $1,521/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

• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 38,079
• Household income: $51,605
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 2548.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 34% Black 30% Hispanic / Latino 27% Two or more races 16% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Cuban 5% Dominican 2%
• Common ancestry: Hispanic 10% Romanian 3% Scotch-Irish 1%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 58% English-only · Spanish 24% French/Haitian/Cajun 11% Other Indo-European 3%

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: ▼ -138.62%
• Current HPI: 335.8396
• Rent YoY: ▬ 0.02%
• 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

+253.8% since first listed

12 events — show timeline

• 2026-05-21 Price Changed $69,000 Beaches MLS
• 2026-05-19 Listed for Rent $1,280 RMLSFL
• 2026-05-18 Listed $72,000 Beaches MLS
• 2005-11-22 Sold (MLS) $52,000 Beaches MLS
• 2005-08-01 Listing Removed — Beaches MLS
• 2005-06-05 Listed $65,000 Beaches MLS
• 2004-05-25 Sold (MLS) $35,000 Beaches MLS
• 2004-04-26 Listing Removed — Beaches MLS
• 2004-02-21 Listed $36,000 Beaches MLS
• 2002-09-13 Sold (MLS) $19,500 Beaches MLS
• 2002-08-13 Listing Removed — Beaches MLS
• 2001-11-14 Listed $19,500 Beaches MLS