1920 N Congress Ave #105 · West Palm Beach, FL 33401

$195,000

2 bd · 1.0 ba · 850 sqft · Condo public records · 99 Days on market

Built 1981 $425/mo HOA · 14% 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 +28.0/30.0
• 1% rule +10.0/10.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Renovated 2 BR, 1 BA condo in excellent condition, offering 850 sqft of modern living space with stylish floors throughout. Located in a highly sought-after area of West Palm Beach, just minutes from shopping centers, restaurants, Whole Foods, Palm Beach Outlets, I-95, and Palm Beach International Airport. Less than 3 miles from CityPlace/Rosemary Square. Near banks, hospitals, pharmacies, and bus stops—everything is close by! Ideal as a cozy home or smart investment with great rental potential. Don’t miss this incredible opportunity!

Key facts

• Stylish floors
• Renovated condo
• Sought-after area

Tags

• RENOVATED CONDO
• MODERN LIVING SPACE
• STYLISH FLOORS
• SOUGHT-AFTER AREA
• GREAT RENTAL POTENTIAL

Property features AI

Finance

• Other: Pets allowed with breed restrictions
• HOA & community: Community pool; Monthly HOA fee of $425 (includes structure maintenance)

Exterior

• Parking: Open parking
• Security: Security fence; Smoke detectors
• Utilities: Cable available
• Home design: Condominium; 2-story building; First-floor entry
• Construction: Block construction
• Exterior features: Fenced lot; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Smoke detectors; Security fence; Pantry
• Laundry & utility: First-floor entry (easy access)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $606 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $177k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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.
• Market conditions: Rents rising fast (+5.2%/yr); 506 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• At $3,017/mo this rent would consume 53% of the median local household income ($68k/yr) (locally 2953% 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 $1k of loan paydown is wiped out by about $6k 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 + 5.2% rent growth), your $55k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask is 8025% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: 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.

Recommended offer $177,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.55% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.33%
• DSCR: 1.59
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.15% rent growth · sell at horizon

5-year hold

• IRR: 6.4%
• Equity multiple: 1.26×
• Total profit: $14,002
• Equity at exit: $29,075

10-year hold

• IRR: 18.0%
• Equity multiple: 2.68×
• Total profit: $91,768
• Equity at exit: $16,860

Cash invested: $54,600 (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 33401

• Rents YoY: 5.2%
• Active inventory: 506
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $3,017 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$248 /mo · $2,974/yr
• Insurance: −$81
• HOA: −$425
• Vacancy / Maint / Mgmt: −$634
• Net cashflow: $606

Break-even live

Break-even rent $2,249

Max offer price $195,000

Occupancy floor 75%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1991 Presidential Way West Palm Beach, FL	1.0	1.0	827	$3,427	$4.14	7d	1	0.29mi
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$2,705	$2.53	19d	19	1.21mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$2,528	$2.07	17d	60	1.28mi
3590 Village Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1074	$2,798	$2.60	1d	29	1.43mi

HOA detail condo

• Monthly dues: $425 · $5,100/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $195,000 Active 99 DOM
2. 2026-06-17
   days on market $195,000 Active 98 DOM
3. 2026-06-16
   days on market $195,000 Active 97 DOM
4. 2026-06-15
   days on market $195,000 Active 96 DOM
5. 2026-06-13
   days on market $195,000 Active 94 DOM
6. 2026-06-09
   days on market $195,000 Active 90 DOM
7. 2026-06-08
   days on market $195,000 Active 89 DOM
8. 2026-06-07
   days on market $195,000 Active 88 DOM
9. 2026-06-04
   days on market $195,000 Active 85 DOM
10. 2026-06-03
    days on market $195,000 Active 84 DOM
11. 2026-06-02
    days on market $195,000 Active 83 DOM
12. 2026-06-01
    days on market $195,000 Active 82 DOM
13. 2026-05-31
    days on market $195,000 Active 81 DOM
14. 2026-05-08
    listed $2,400
15. 2026-03-14
    historical $2,400
16. 2026-01-13
    listed $2,400
17. 2026-01-11
    listed $195,000 Active
18. 2025-06-17
    historical $1,950
19. 2025-05-09
    listed $1,950
20. 2025-04-11
    historical
21. 2024-04-11
    listed $209,000 Active
22. 2023-09-13
    soldstatus $195,000
23. 2020-09-11
    soldstatus $103,000
24. 2004-08-03
    soldstatus $73,900
25. 1990-05-01
    soldstatus $8,500,000

ⓘ 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: $2,974 · $248/mo
• Projected year-2 tax: $2,974 · $248/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 23 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: $36,200
• − Mortgage interest: −$10,923
• − Property taxes: −$2,974
• − Insurance: −$975
• − Repairs & maintenance: −$2,896
• − Management: −$2,896
• − HOA: −$5,100
• − Depreciation: −$5,673
• Taxable income: $4,763
• Est. tax owed @ 24.0%: −$1,143
• After-tax cash flow: $6,134/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

• Census place: West Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,698
• Household income: $67,967
• Rent vs Own: 62.5% rent · 37.5% own
• Severe rent burden: 2953.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 43% Black 32% Hispanic / Latino 17% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 3%
• Common ancestry: Hispanic 6% Slovak 2% Romanian 2%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 13% French/Haitian/Cajun 7% Other Asian/Pacific 2%

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: ▼ -324.96%
• Current HPI: 367.0978
• Rent YoY: ▲ 5.15%
• 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

-100.0% since first listed

12 events — show timeline

• 2026-05-08 Listed for Rent $2,400 RMLSFL
• 2026-03-14 Rental Removed $2,400 GFLMLS
• 2026-01-13 Listed for Rent $2,400 GFLMLS
• 2026-01-11 Listed $195,000 Beaches MLS
• 2025-06-17 Rental Removed $1,950 RMLSFL
• 2025-05-09 Listed for Rent $1,950 RMLSFL
• 2025-04-11 Listing Removed — Beaches MLS
• 2024-04-11 Listed $209,000 Beaches MLS
• 2023-09-13 Sold (Public Records) $195,000 Public Records
• 2020-09-11 Sold (Public Records) $103,000 Public Records
• 2004-08-03 Sold (Public Records) $73,900 Public Records
• 1990-05-01 Sold (Public Records) $8,500,000 Public Records

Property tax history

+13.9%/yr

Latest (2025): $2,974 · +0.2% YoY. Source: county tax records.