725 Hummingbird Way #109 · North Palm Beach, FL 33408

$185,000

1 bd · 1.0 ba · 656 sqft · Condo public records · 34 Days on market

Built 1972 $540/mo HOA · 17% 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 +29.0/30.0
• 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 MLS

Check out this fantastic intracoastal escape off the Earman River in North Palm Beach. Dock slips available up to 20' boat, free of charge. This corner unit one bedroom floor plan is close to parking, and just steps away from pool and dock. Washer/Dryer inside unit! Plumbing recently redone with tankless hot water heater. Open layout is bright and sunny, with private patio access from both living room and bedroom. Located near major shopping, Palm Beach International Airport, and easy I95/Turnpike access. Can rent right away, 6-month minimum (no Air bnb/NO SHORT TERM RENTALS). Schedule a tour today!

Key facts

• Waterfront community
• Private patio
• Community dock

Tags

• GROUND-FLOOR CORNER UNIT
• WATERFRONT COMMUNITY
• IN-UNIT WASHER DRYER
• TANKLESS WATER HEATER
• PRIVATE PATIO
• COMMUNITY DOCK

Property features AI

Finance

• Other: Resale property
• Financial info: Pets allowed with possible restrictions on breed and size
• HOA & community: Monthly HOA fee; Association amenities include laundry, parking, pool, sidewalks, and street lights; HOA covers insurance, grounds maintenance, trash, and common areas

Exterior

• Parking: Assigned parking; Guest parking; Open parking; On-street parking; Approximately 25 open parking spaces; One parking space assigned
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Water available; Sewer available
• Home design: Condominium; One level; Two-story building; Entry-level living area; North-facing; Waterfront with ocean access and fixed bridge
• Construction: Stucco and CBS construction; Tile roof
• Exterior features: Open patio; Patio

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Tankless water heater
• Bedrooms: One bedroom on the main level
• Flooring: Ceramic tile; Tile; Vinyl; Wood
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central electric heating; Central air; Ceiling fan(s)
• Interior features: Walk-in closet(s); Drapes; Unfurnished
• Laundry & utility: Common area laundry; Laundry room; Washer hookup; Electric dryer hookup; Inside and outside laundry access

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $633 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $179k (3.0% 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; 400 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 40% of the median local income ($92k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 27y ago 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.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. 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. 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: 1.68% ✓
• Cap rate: 10.40%
• Cash-on-cash: 14.66%
• DSCR: 1.65
• GRM: 5.0

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: 1.3%
• Equity multiple: 1.05×
• Total profit: $2,397
• Equity at exit: $27,584

10-year hold

• IRR: 7.1%
• Equity multiple: 1.45×
• Total profit: $23,243
• Equity at exit: $15,995

Cash invested: $51,800 (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: 5.0×

Monthly cashflow live

• Estimated rent: $3,109 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$236 /mo · $2,828/yr
• Insurance: −$77
• HOA: −$540
• Vacancy / Maint / Mgmt: −$653
• Net cashflow: $633

Break-even live

Break-even rent $2,307

Max offer price $185,000

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
624 Southwind Cir #2 North Palm Beach, FL	2.0	2.0	718	$3,750	$5.22	24d	1	0.15mi
913 Lake Shore Dr Lake Park, FL	1.0–2.0	1.0–2.0	1066	$2,263	$2.12	2d	9	1.21mi

HOA detail condo

• Monthly dues: $540 · $6,480/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 48 events

1. 2026-06-18
   days on market $185,000 Active 34 DOM
2. 2026-06-17
   days on market $185,000 Active 33 DOM
3. 2026-06-16
   days on market $185,000 Active 32 DOM
4. 2026-06-15
   days on market $185,000 Active 31 DOM
5. 2026-06-13
   days on market $185,000 Active 29 DOM
6. 2026-06-09
   days on market $185,000 Active 25 DOM
7. 2026-06-08
   days on market $185,000 Active 24 DOM
8. 2026-06-07
   days on market $185,000 Active 23 DOM
9. 2026-06-04
   days on market $185,000 Active 20 DOM
10. 2026-06-03
    days on market $185,000 Active 19 DOM
11. 2026-06-02
    days on market $185,000 Active 18 DOM
12. 2026-06-01
    days on market $185,000 Active 17 DOM
13. 2026-05-31
    days on market $185,000 Active 16 DOM
14. 2026-05-15
    listed $185,000 Active
15. 2025-05-12
    historical
16. 2024-12-26
    historical $1,900
17. 2024-12-12
    listed $1,900
18. 2024-12-12
    listed $195,000 Active
19. 2024-02-27
    historical $1,875
20. 2023-12-22
    listed $1,875
21. 2023-12-13
    historical $1,875
22. 2023-12-02
    price $1,875
23. 2023-11-18
    listed $2,000
24. 2023-03-13
    soldstatus $175,000
25. 2023-03-09
    soldstatus $175,000 Closed 606-char remark

    Show marketing remark (606 chars)

    Check out this fantastic intracoastal escape off the Earman River in North Palm Beach. Dock slips available up to 20' boat, free of charge. This corner unit one bedroom floor plan is close to parking, and just steps away from pool and dock. Washer/Dryer inside unit! Plumbing recently redone with tankless hot water heater. Open layout is bright and sunny, with private patio access from both living room and bedroom. Located near major shopping, Palm Beach International Airport, and easy I95/Turnpike access. Can rent right away, 6-month minimum (no Air bnb/NO SHORT TERM RENTALS). Schedule a tour today!

26. 2023-02-13
    status Pending 606-char remark

    Show marketing remark (606 chars)

    Check out this fantastic intracoastal escape off the Earman River in North Palm Beach. Dock slips available up to 20' boat, free of charge. This corner unit one bedroom floor plan is close to parking, and just steps away from pool and dock. Washer/Dryer inside unit! Plumbing recently redone with tankless hot water heater. Open layout is bright and sunny, with private patio access from both living room and bedroom. Located near major shopping, Palm Beach International Airport, and easy I95/Turnpike access. Can rent right away, 6-month minimum (no Air bnb/NO SHORT TERM RENTALS). Schedule a tour today!

27. 2023-02-10
    historical Active Under Contract 606-char remark

    Show marketing remark (606 chars)

    Check out this fantastic intracoastal escape off the Earman River in North Palm Beach. Dock slips available up to 20' boat, free of charge. This corner unit one bedroom floor plan is close to parking, and just steps away from pool and dock. Washer/Dryer inside unit! Plumbing recently redone with tankless hot water heater. Open layout is bright and sunny, with private patio access from both living room and bedroom. Located near major shopping, Palm Beach International Airport, and easy I95/Turnpike access. Can rent right away, 6-month minimum (no Air bnb/NO SHORT TERM RENTALS). Schedule a tour today!

28. 2023-02-07
    listed $175,000 Active 606-char remark

    Show marketing remark (606 chars)

    Check out this fantastic intracoastal escape off the Earman River in North Palm Beach. Dock slips available up to 20' boat, free of charge. This corner unit one bedroom floor plan is close to parking, and just steps away from pool and dock. Washer/Dryer inside unit! Plumbing recently redone with tankless hot water heater. Open layout is bright and sunny, with private patio access from both living room and bedroom. Located near major shopping, Palm Beach International Airport, and easy I95/Turnpike access. Can rent right away, 6-month minimum (no Air bnb/NO SHORT TERM RENTALS). Schedule a tour today!

29. 2020-08-19
    soldstatus $130,950
30. 2020-08-12
    soldstatus $130,950 Closed
31. 2020-05-20
    historical Active Under Contract
32. 2020-05-16
    listed $135,000 Active
33. 2018-07-31
    soldstatus $103,500 Closed
34. 2018-07-31
    soldstatus $103,500
35. 2018-07-06
    status Pending
36. 2018-05-19
    price $108,000
37. 2018-01-21
    listed $109,000 Active
38. 2013-09-21
    historical
39. 2009-04-07
    soldstatus $62,500
40. 2009-04-01
    historical
41. 2008-02-02
    listed $73,500
42. 2006-01-07
    listed $199,000
43. 2005-07-21
    soldstatus $176,000
44. 1999-11-02
    soldstatus $35,500
45. 1999-10-28
    soldstatus $35,500
46. 1999-10-04
    historical
47. 1999-09-29
    listed $39,000
48. 1988-05-09
    soldstatus $33,300

ⓘ 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: $2,828 · $236/mo
• Projected year-2 tax: $2,828 · $236/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 6/10 Major FEMA zone X (unshaded) · 95% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 22 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: $37,302
• − Mortgage interest: −$10,363
• − Property taxes: −$2,828
• − Insurance: −$925
• − Repairs & maintenance: −$2,984
• − Management: −$2,984
• − HOA: −$6,480
• − Depreciation: −$5,382
• Taxable income: $5,356
• Est. tax owed @ 24.0%: −$1,286
• After-tax cash flow: $6,309/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

+455.6% since first listed

35 events — show timeline

• 2026-05-15 Listed $185,000 Beaches MLS
• 2025-05-12 Listing Removed — Beaches MLS
• 2024-12-26 Rental Removed $1,900 RMLSFL
• 2024-12-12 Listed for Rent $1,900 RMLSFL
• 2024-12-12 Listed $195,000 Beaches MLS
• 2024-02-27 Rental Removed $1,875 GFLMLS
• 2023-12-22 Listed for Rent $1,875 GFLMLS
• 2023-12-13 Rental Removed $1,875 GFLMLS
• 2023-12-02 Price Changed $1,875 GFLMLS
• 2023-11-18 Listed for Rent $2,000 GFLMLS
• 2023-03-13 Sold (Public Records) $175,000 Public Records
• 2023-03-09 Sold (MLS) $175,000 Beaches MLS
• 2023-02-13 Pending — Beaches MLS
• 2023-02-10 Contingent — Beaches MLS
• 2023-02-07 Listed $175,000 Beaches MLS
• 2020-08-19 Sold (Public Records) $130,950 Public Records
• 2020-08-12 Sold (MLS) $130,950 Beaches MLS
• 2020-05-20 Contingent — Beaches MLS
• 2020-05-16 Listed $135,000 Beaches MLS
• 2018-07-31 Sold (Public Records) $103,500 Public Records
• 2018-07-31 Sold (MLS) $103,500 Beaches MLS
• 2018-07-06 Pending — Beaches MLS
• 2018-05-19 Price Changed $108,000 Beaches MLS
• 2018-01-21 Listed $109,000 Beaches MLS
• 2013-09-21 Listing Removed — Beaches MLS
• 2009-04-07 Sold (MLS) $62,500 Beaches MLS
• 2009-04-01 Listing Removed — Beaches MLS
• 2008-02-02 Listed $73,500 Beaches MLS
• 2006-01-07 Listed $199,000 Beaches MLS
• 2005-07-21 Sold (Public Records) $176,000 Public Records
• 1999-11-02 Sold (Public Records) $35,500 Public Records
• 1999-10-28 Sold (MLS) $35,500 Beaches MLS
• 1999-10-04 Listing Removed — Beaches MLS
• 1999-09-29 Listed $39,000 Beaches MLS
• 1988-05-09 Sold (Public Records) $33,300 Public Records

Property tax history

+9.0%/yr

Latest (2025): $2,828 · -6.3% YoY. Source: county tax records.