117 Lehane Ter #210 · North Palm Beach, FL 33408

$325,000

2 bd · 2.0 ba · 1,014 sqft · Condo public records · 11 Days on market

Built 1971 $849/mo HOA · 20% 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 +17.1/30.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• 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

Prime Waterfront Condo in North Palm Beach Condo Features Experience waterfront living in this inviting condo, which offers 2 bedrooms and 2 bathrooms situated directly on the intracoastal in the desirable North Palm Beach area. The all-ages building boasts a spacious living area, perfect for both relaxing and entertaining. Step out onto the large patio to enjoy sweeping water views, creating a serene atmosphere right at home. The condo is designed for convenience with an in-unit washer and dryer, and the master bedroom includes a custom walk-in closet for ample storage. The kitchen features newer black stainless appliances that combine style and functionality. Comes Furnished or remove, al

Key facts

• Large patio
• Waterfront living
• Sweeping water views

Tags

• WATERFRONT LIVING
• LARGE PATIO
• SWEEPING WATER VIEWS
• CUSTOM WALK-IN CLOSET
• ONE DEEDED PARKING SPACE
• PLENTY OF GUEST PARKING

Property features AI

Finance

• Other: Pets allowed with limits on number and size
• Financial info: No land lease
• HOA & community: Monthly HOA fee of 849; Association amenities include boating, pool and laundry; HOA covers insurance, grounds maintenance, pest control, sewer, trash and common real estate tax

Exterior

• Parking: Assigned parking; Guest parking; Open parking (2 total spaces)
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Resale condition; South-facing; Two stories
• Construction: Concrete construction; Concrete and tile roof
• Exterior features: Covered patio; Patio; Ocean access with Intracoastal and no fixed bridge

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: Two main-level bedrooms
• Flooring: Tile
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Built-in features; Walk-in closets; Split bedroom layout; Closet cabinetry; Drapes
• Laundry & utility: Common area laundry room; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $325k.

Deal economics

• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).

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: Lake Park Elementary School (math 57% / reading 62%, grade B-, #690 of 2,144 statewide, top 34%, 389 students, 83% 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 schools average 74% FRL vs 52% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 400 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $4,184/mo this rent would consume 54% 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 $10k 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 8y ago; this cycle's ask is 11507% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 20% of rent.
• Climate carrying-cost: severe 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 $325,000

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.29% ✓
• Cap rate: 7.12%
• Cash-on-cash: 2.97%
• DSCR: 1.13
• GRM: 6.5

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: -17.1%
• Equity multiple: 0.42×
• Total profit: $-53,146
• Equity at exit: $48,459

10-year hold

• IRR: -18.1%
• Equity multiple: 0.18×
• Total profit: $-74,251
• Equity at exit: $28,100

Cash invested: $91,000 (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: 400
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $4,184 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$392 /mo · $4,705/yr
• Insurance: −$135
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$849
• Vacancy / Maint / Mgmt: −$879
• Net cashflow: $158

Break-even live

Break-even rent $3,984

Max offer price $325,000

Occupancy floor 91%

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1155 Lake Shore Dr #202 West Palm Beach, FL	2.0	2.0	1206	$4,750	$3.94	24d	1	0.14mi
1060 Lake Shore Dr #201 West Palm Beach, FL	2.0	2.0	1206	$3,850	$3.19	18d	1	0.19mi
913 Lake Shore Dr Lake Park, FL	1.0–2.0	1.0–2.0	1066	$3,731	$3.50	2d	9	0.26mi
301 Hawthorne Dr West Palm Beach, FL	3.0	2.0	1402	$3,200	$2.28	24d	1	0.47mi
522 Eastwind Dr North Palm Beach, FL	2.0	2.0	948	$3,995	$4.21	24d	1	0.57mi
524 Eastwind Dr Unit 524 North Palm Beach, FL	2.0	1.0	774	$3,995	$5.16	24d	1	0.57mi
526 Eastwind Dr Unit 526 North Palm Beach, FL	2.0	1.0	840	$3,995	$4.76	24d	1	0.58mi
301 Lake Shore Dr #802 West Palm Beach, FL	2.0	2.0	1316	$3,000	$2.28	24d	1	0.65mi
549 Fairwind Dr North Palm Beach, FL	3.0	2.0	1498	$5,000	$3.34	24d	1	0.75mi
220 Lake Shore Dr Lake Park, FL	1.0–3.0	1.5–3.5	1575	$14,498	$9.20	4d	18	0.75mi
308 Southwind Ct Unit 8 North Palm Beach, FL	2.0	2.0	1100	$2,900	$2.64	24d	1	0.84mi
429 Inlet Rd North Palm Beach, FL	3.0	2.5	1452	$6,500	$4.48	24d	1	0.92mi
624 Southwind Cir Apt 4 North Palm Beach, FL	3.0	2.0	1134	$4,750	$4.19	24d	1	0.95mi
624 Southwind Cir #2 North Palm Beach, FL	2.0	2.0	718	$3,750	$5.22	24d	1	0.95mi
624 Southwind Cir Unit 3 North Palm Beach, FL	3.0	3.0	1316	$5,500	$4.18	24d	1	0.95mi
5400 N Ocean Dr Riviera Beach, FL	1.0–2.0	1.0–2.0	1300	$6,500	$5.00	21d	3	1.17mi
5400 N Ocean Dr Riviera Beach, FL	2.0	2.0	1375	$5,450	$3.96	5d	3	1.17mi
5440 N Ocean Dr Riviera Beach, FL	2.0	2.0	1400	$5,325	$3.80	20d	6	1.18mi
5440 N Ocean Dr Riviera Beach, FL	2.0	2.0	1400	$5,675	$4.05	1d	7	1.18mi
5480 N Ocean Dr Unit B2A Riviera Beach, FL	2.0	2.0	1330	$4,750	$3.57	24d	1	1.18mi
5480 N Ocean Dr Unit A10C Riviera Beach, FL	2.0	2.0	1330	$5,500	$4.14	24d	1	1.18mi
5420 N Ocean Dr Riviera Beach, FL	2.0	2.0	1371	$4,725	$3.45	14d	5	1.18mi
5420 N Ocean Dr Riviera Beach, FL	2.0	2.0	1371	$5,000	$3.65	7d	4	1.18mi
5550 N Ocean Dr Riviera Beach, FL	2.0	2.0	1435	$9,000	$6.27	24d	1	1.19mi
5510 N Ocean Dr Unit 2C Riviera Beach, FL	2.0	2.0	1435	$7,995	$5.57	24d	1	1.20mi
5540 N Ocean Dr Unit 7B Riviera Beach, FL	2.0	2.0	1435	$5,000	$3.48	24d	1	1.22mi
5540 N Ocean Dr Unit 7A Riviera Beach, FL	2.0	2.0	1435	$7,000	$4.88	24d	1	1.22mi
855 Date Palm Dr West Palm Beach, FL	3.0	3.0	1216	$3,150	$2.59	24d	1	1.23mi
1030 Sugar Sands Blvd #171 Riviera Beach, FL	2.0	2.0	1143	$5,000	$4.37	24d	1	1.24mi
1025 Sugar Sands Blvd #159 Riviera Beach, FL	1.0	1.0	987	$4,200	$4.26	24d	1	1.27mi
1050 Sugar Sands Blvd #174 Riviera Beach, FL	3.0	2.0	1490	$5,500	$3.69	24d	1	1.28mi
410 Wilma Cir #103 Riviera Beach, FL	2.0	2.0	1056	$4,000	$3.79	14d	1	1.28mi
400 Wilma Cir #309 Riviera Beach, FL	1.0	1.0	818	$4,000	$4.89	5d	1	1.29mi
901 W 37th St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	24d	1	1.30mi
4200 N Ocean Dr Unit 2-101 Riviera Beach, FL	2.0	2.0	1400	$3,000	$2.14	14d	1	1.36mi
1260 Manor Dr Riviera Beach, FL	2.0	2.0	1230	$4,500	$3.66	20d	1	1.38mi
4200 N Ocean Dr Unit 2-1101 Riviera Beach, FL	2.0	2.0	1432	$3,500	$2.44	7d	1	1.39mi
4200 N Ocean Dr Unit 1-203 1 Riviera Beach, FL	2.0	2.0	1400	$3,425	$2.45	5d	1	1.39mi
4200 N Ocean Dr Unit 2-306 Riviera Beach, FL	2.0	2.0	1210	$3,300	$2.73	7d	1	1.39mi
4200 N Ocean Dr Unit 2-405 Riviera Beach, FL	2.0	2.0	1432	$5,850	$4.09	24d	1	1.39mi

HOA detail condo

• Monthly dues: $849 · $10,188/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-18
   days on market $325,000 Active 11 DOM
2. 2026-06-17
   days on market $325,000 Active 10 DOM
3. 2026-06-16
   days on market $325,000 Active 9 DOM
4. 2026-06-15
   days on market $325,000 Active 8 DOM
5. 2026-06-13
   days on market $325,000 Active 6 DOM
6. 2026-06-09
   days on market $325,000 Active 2 DOM
7. 2026-06-08
   days on marketlisting id $325,000 Active 1 DOM
8. 2026-06-04
   days on market $325,000 Active 90 DOM
9. 2026-06-03
   days on market $325,000 Active 89 DOM
10. 2026-06-02
    days on market $325,000 Active 88 DOM
11. 2026-06-01
    days on market $325,000 Active 87 DOM
12. 2026-05-31
    days on market $325,000 Active 86 DOM
13. 2026-05-08
    price $325,000
14. 2026-04-10
    listed $2,800
15. 2026-04-09
    historical $2,800
16. 2026-03-07
    listed $2,800
17. 2026-03-06
    listed $335,000 Active
18. 2025-10-28
    historical $2,700
19. 2025-08-05
    price $2,700
20. 2025-06-11
    price $2,800
21. 2025-06-05
    listed $3,000
22. 2025-03-10
    historical
23. 2025-03-10
    historical $3,000
24. 2024-10-17
    listed $3,000
25. 2024-10-10
    listed $370,000 Active
26. 2024-07-16
    historical
27. 2024-03-31
    listed $364,900 Active
28. 2023-08-11
    soldstatus $300,000
29. 2023-07-24
    soldstatus $300,000 Closed
30. 2023-06-02
    historical Active Under Contract
31. 2023-05-01
    price $329,000
32. 2023-04-06
    listed $350,000 Active
33. 2019-07-11
    soldstatus $183,000
34. 2019-07-09
    soldstatus $183,000 Closed
35. 2019-06-25
    historical Contingent
36. 2019-05-17
    price $197,000
37. 2019-03-22
    listed $199,000 Active
38. 2019-03-13
    historical
39. 2018-09-12
    listed $199,000 Active
40. 1994-02-17
    soldstatus $62,500

ⓘ 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: $4,705 · $392/mo
• Projected year-2 tax: $4,705 · $392/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 8/10 Severe FEMA zone X (shaded) · 98% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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: $50,214
• − Mortgage interest: −$18,205
• − Property taxes: −$4,705
• − Insurance: −$2,422
• − Repairs & maintenance: −$4,017
• − Management: −$4,017
• − HOA: −$10,188
• − Depreciation: −$9,455
• Taxable loss: −$2,796
• Est. tax savings @ 24.0%: +$671
• After-tax cash flow: $2,572/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

+420.0% since first listed

28 events — show timeline

• 2026-05-08 Price Changed $325,000 Beaches MLS
• 2026-04-10 Listed for Rent $2,800 RMLSFL
• 2026-04-09 Rental Removed $2,800 GFLMLS
• 2026-03-07 Listed for Rent $2,800 GFLMLS
• 2026-03-06 Listed $335,000 Beaches MLS
• 2025-10-28 Rental Removed $2,700 GFLMLS
• 2025-08-05 Price Changed $2,700 GFLMLS
• 2025-06-11 Price Changed $2,800 GFLMLS
• 2025-06-05 Listed for Rent $3,000 GFLMLS
• 2025-03-10 Listing Removed — MARMLS
• 2025-03-10 Rental Removed $3,000 MARMLS
• 2024-10-17 Listed for Rent $3,000 MARMLS
• 2024-10-10 Listed $370,000 MARMLS
• 2024-07-16 Listing Removed — MARMLS
• 2024-03-31 Listed $364,900 MARMLS
• 2023-08-11 Sold (Public Records) $300,000 Public Records
• 2023-07-24 Sold (MLS) $300,000 Beaches MLS
• 2023-06-02 Contingent — Beaches MLS
• 2023-05-01 Price Changed $329,000 Beaches MLS
• 2023-04-06 Listed $350,000 Beaches MLS
• 2019-07-11 Sold (Public Records) $183,000 Public Records
• 2019-07-09 Sold (MLS) $183,000 Beaches MLS
• 2019-06-25 Contingent — Beaches MLS
• 2019-05-17 Price Changed $197,000 Beaches MLS
• 2019-03-22 Listed $199,000 Beaches MLS
• 2019-03-13 Listing Removed — Beaches MLS
• 2018-09-12 Listed $199,000 Beaches MLS
• 1994-02-17 Sold (Public Records) $62,500 Public Records

Property tax history

+15.8%/yr

Latest (2025): $4,705 · +0.1% YoY. Source: county tax records.