755 Saturn St Unit H101

Jupiter, FL 33477

$395,000C+

2 bd · 2.0 ba · 1,063 sqft · Built 1979 · Condo · Active · 189 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,651/mo
• Mortgage (P&I): −$2,071
• Tax + insurance: −$283
• HOA: −$855
• Vac / Maint / Mgmt: −$977
• Net cashflow: $464/mo
• Annual: $5,574/yr
• Cap rate: 7.70%
• Cash-on-cash: 5.04%
• DSCR: 1.22
• 1% rule: 1.18%
• Cash to close: $110,600

Investor read

• This is a 2-bed/2.0-bath condo listed at $395k.
• At list price, monthly cash flow is $464 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $395k).
• It's been on market 189 days — a 12% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $348k (12.0% below list) — sets the bar for market timing.
• In year one you build about $14k of equity ($3k loan paydown + $12k appreciation (2.9% local appreciation)).
• Location reads 70/100 on livability (#415 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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: Jupiter Elementary School (math 53% / reading 47%, grade D+, #1,070 of 2,144 statewide, top 51%, 832 students, 69% FRL); Jupiter Middle School (math 62% / reading 63%, grade B+, #116 of 571 statewide, top 21%, 1,384 students, 38% FRL); Jupiter High School (math 56% / reading 64%, grade C+, #106 of 667 statewide, top 16%, 3,087 students, 28% FRL).
• Market conditions: Rents rising fast (+10.3%/yr); 337 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); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $36k; list at $395k implies a 997% gain — meaningful room to come down on a strong offer.
• At projected returns (2.9% appreciation + 8.0% rent growth), your $111k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk; 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.
• Cap rate 7.7% vs local median 2.6% in Jupiter — 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.
• At $4,651/mo this rent would consume 53% of the median local household income ($105k/yr) (locally 445% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.