616 Clearwater Park Rd #708 · West Palm Beach, FL 33401

$244,900

1 bd · 1.0 ba · 696 sqft · Condo public records · 52 Days on market

Built 2003 $766/mo HOA · 22% 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 +17.0/30.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• 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

Location Location! Walkable to downtown & City Place walk to Brightline & Tri-Rail Shopping, Clubs , Bars , Restaurants , Kravitz Center , PB Atlantic College and more. Property Amentities include resort style heated pool, fitness center, concierge, 24 hour concierge, gated covered parking , clubhouse, sauna & business center. Includes water, cable tv, internet, 186 units. Beautifully decorated , granite kitchen , city views with no building vie obstruction will never change due to unit location. AC REPLACED 2 years ago. In unit full size laundry. This property comes with no assessments.

Key facts

• Fitness center
• City views
• Inside laundry

Tags

• RESORT STYLE HEATED POOL
• FITNESS CENTER
• GATED COVERED PARKING
• CITY VIEWS
• INSIDE LAUNDRY

Property features AI

Finance

• Financial info: Pets allowed with restrictions on breed, number, and size
• HOA & community: Association: Castle Group; Monthly HOA fee; Association amenities include pool, heated pool, spa/hot tub, billiard room, elevator(s), management, parking, manager on site, bike storage, business center, community room, security, recreation facilities, and hot water; HOA fee covers cable TV, insurance, internet, water, common areas, elevator, and hot water

Exterior

• Parking: Detached garage; 2 garage spaces (2 covered spaces); Assigned parking; Guest and open parking
• Security: Building security with key card entry and attended lobby; Closed circuit cameras; Security system and security lights; Entry phone/intercom; Smoke detectors; Fire sprinkler system; Gated (no guard)
• Utilities: Public water; Public sewer; Cable connected; Water connected; Sewer connected
• Home design: Condominium; One level; Faces west; Located on a city street
• Construction: Block and concrete construction; Concrete / pre-stressed roof; 15-story building
• Exterior features: Covered patio; Patio

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Disposal; Electric water heater (owned)
• Bedrooms: 1 bedroom (main level)
• Flooring: Tile; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fan(s); Individual central cooling units; Has heating and cooling
• Interior features: High ceilings; Furnished
• Laundry & utility: In-unit laundry in a laundry closet (inside)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $245k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $238k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $3,415/mo this rent would consume 60% 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 $2k of loan paydown is wiped out by about $7k 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 52 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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.
• Current owner paid $145k; list at $245k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $237,553 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.39% ✓
• Cap rate: 7.11%
• Cash-on-cash: 2.92%
• DSCR: 1.13
• GRM: 6.0

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: -8.0%
• Equity multiple: 0.69×
• Total profit: $-20,956
• Equity at exit: $36,515

10-year hold

• IRR: 5.2%
• Equity multiple: 1.44×
• Total profit: $30,079
• Equity at exit: $21,174

Cash invested: $68,572 (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: 6.0×

Monthly cashflow live

• Estimated rent: $3,415 high
• Mortgage (P&I): −$1,284
• Tax from tax record: −$379 /mo · $4,544/yr
• Insurance: −$102
• HOA: −$766
• Vacancy / Maint / Mgmt: −$717
• Net cashflow: $167

Break-even live

Break-even rent $3,204

Max offer price $244,900

Occupancy floor 90%

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: $61,225
• Closing costs: $7,347
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	731	$4,365	$5.97	10d	16	0.19mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	727	$3,414	$4.70	24d	19	0.19mi
651 Okeechobee Blvd West Palm Beach, FL	1.0–2.0	1.0–2.5	887	$3,000	$3.38	14d	5	0.36mi
591 Evernia St West Palm Beach, FL	2.0	1.0–2.0	943	$4,270	$4.53	3d	26	0.41mi
480 Hibiscus St West Palm Beach, FL	1.0–2.0	1.0–2.0	867	$3,600	$4.15	3d	4	0.52mi
480 Hibiscus St West Palm Beach, FL	1.0–2.0	1.5–2.0	885	$3,495	$3.95	24d	3	0.52mi
499 Evernia St West Palm Beach, FL	2.0	1.0–2.0	827	$3,198	$3.87	2d	26	0.59mi
333 Fern St West Palm Beach, FL	2.0	1.0–2.0	1121	$3,974	$3.54	2d	1	0.62mi
1710 N Congress Ave West Palm Beach, FL	1.0–3.0	1.0–2.0	1210	$2,495	$2.06	24d	4	0.62mi
255 Evernia St #1421 West Palm Beach, FL	1.0	1.0	666	$3,000	$4.50	10d	1	0.75mi
345 Banyan Blvd West Palm Beach, FL	3.0	1.0–2.0	1023	$4,017	$3.92	1d	19	0.75mi
1050 Blanche St West Palm Beach, FL	2.0	1.0–2.0	740	$2,838	$3.83	2d	8	0.82mi
290 N Olive Ave West Palm Beach, FL	2.0	1.0–2.0	870	$3,976	$4.57	2d	20	0.82mi
805 N Olive Ave West Palm Beach, FL	1.0–2.0	1.0–2.0	852	$2,473	$2.90	3d	15	0.95mi
740 N Dixie Hwy West Palm Beach, FL	1.0	1.0	679	$3,187	$4.69	2d	5	0.95mi
1500 Centrepark Blvd West Palm Beach, FL	2.0	1.0–2.0	862	$2,624	$3.04	1d	18	1.21mi
44 Cocoanut Row Unit 610A Palm Beach, FL	1.0	1.0	540	$11,000	$20.37	24d	1	1.31mi
424 Chilean Ave Unit 4 Palm Beach, FL	2.0	2.0	750	$6,500	$8.67	16d	1	1.37mi
424 Chilean Ave Unit 4 Palm Beach, FL	2.0	2.0	750	$6,500	$8.67	15d	1	1.37mi
401 Peruvian Ave #3020 Palm Beach, FL	1.0	1.0	595	$11,500	$19.33	24d	1	1.42mi

HOA detail condo

• Monthly dues: $766 · $9,192/yr
• Likely covers: waterinternetcablepoolgymdoormansecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-05-05
   status Pending
2. 2026-03-14
   listed $244,900 Active
3. 2019-08-19
   soldstatus $145,000
4. 2019-08-14
   soldstatus $145,000 Closed
5. 2019-06-29
   historical Contingent
6. 2019-06-21
   listed $159,950 Active
7. 2019-06-20
   historical
8. 2019-04-19
   price $159,950
9. 2018-11-14
   price $160,000
10. 2018-06-20
    listed $167,650 Active
11. 2014-10-15
    historical
12. 2013-09-21
    historical
13. 2007-01-08
    soldstatus $199,900
14. 2006-12-28
    soldstatus $199,900
15. 2006-11-27
    historical
16. 2006-11-18
    listed $199,900
17. 2006-08-11
    listed $199,900
18. 2006-02-05
    listed $209,900

ⓘ 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: $4,544 · $379/mo
• Projected year-2 tax: $4,544 · $379/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 · 24 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: $40,977
• − Mortgage interest: −$13,718
• − Property taxes: −$4,544
• − Insurance: −$1,224
• − Repairs & maintenance: −$3,278
• − Management: −$3,278
• − HOA: −$9,192
• − Depreciation: −$7,124
• Taxable loss: −$1,382
• Est. tax savings @ 24.0%: +$332
• After-tax cash flow: $2,332/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

+16.7% since first listed

18 events — show timeline

• 2026-05-05 Pending — Beaches MLS
• 2026-03-14 Listed $244,900 Beaches MLS
• 2019-08-19 Sold (Public Records) $145,000 Public Records
• 2019-08-14 Sold (MLS) $145,000 Beaches MLS
• 2019-06-29 Contingent — Beaches MLS
• 2019-06-21 Listed $159,950 Beaches MLS
• 2019-06-20 Listing Removed — Beaches MLS
• 2019-04-19 Price Changed $159,950 Beaches MLS
• 2018-11-14 Price Changed $160,000 Beaches MLS
• 2018-06-20 Listed $167,650 Beaches MLS
• 2014-10-15 Listing Removed — Beaches MLS
• 2013-09-21 Listing Removed — Beaches MLS
• 2007-01-08 Sold (Public Records) $199,900 Public Records
• 2006-12-28 Sold (MLS) $199,900 Beaches MLS
• 2006-11-27 Listing Removed — Beaches MLS
• 2006-11-18 Listed $199,900 Beaches MLS
• 2006-08-11 Listed $199,900 Beaches MLS
• 2006-02-05 Listed $209,900 Beaches MLS

Property tax history

+9.0%/yr

Latest (2025): $4,544 · +4.9% YoY. Source: county tax records.