243 Sheffield J #243 · West Palm Beach, FL 33417

$99,000

1 bd · 1.5 ba · 684 sqft · Condo · 180 Days on market

Built 1971 $485/mo HOA · 34% of rent

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Why this score? — see what drove the D 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 +10.6/30.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOVELY 1BD, 1 1/2 BATH IN ACTIVE COMMUNITY. NEWER APPLIANCES, NEW VERTICALS. OWNER IS MOTIVATED. COURTESY KEY AVAILABLE AT OUR BOYNTON BEACH OFFICE.

Key facts

• Gated community
• Active clubhouse
• Fitness center

Tags

• GARDEN VIEW
• ACTIVE CLUBHOUSE
• FITNESS CENTER
• GATED COMMUNITY

Property features AI

Finance

• Other: Annual tax amount reported
• Financial info: Pets allowed with restrictions or possible restrictions
• HOA & community: Monthly association fee of $485; Senior community

Exterior

• Parking: Carport (1 space); One covered parking space
• Home design: 2 stories; Entry located on level 2; Effective year built
• Construction: Block construction
• Exterior features: Property is attached

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: Other interior features

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $-50 ($-597/yr) — negative.
• To cash-flow at today's rent, offer at most $92k (7.3% below list).
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.7% 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.
• Zoned schools: Grassy Waters Elementary School (math 43% / reading 48%, grade D-, #1,247 of 2,144 statewide, top 59%, 739 students, 64% FRL); Bear Lakes Middle School (math 19% / reading 33%, grade F, #506 of 571 statewide, top 89%, 842 students, 74% FRL); Palm Beach Lakes High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 2,688 students, 70% FRL) — zoned schools average 69% FRL vs 52% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 50% district-wide (-18 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; 481 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• This rent runs 33% of the median local income ($52k/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 $684 of loan paydown is wiped out by about $3k 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 180 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y ago; this cycle's ask has dropped $21k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 180 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.43% ✓
• Cap rate: 5.69%
• Cash-on-cash: -2.15%
• DSCR: 0.90
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.02% rent growth · sell at horizon

5-year hold

• IRR: -25.6%
• Equity multiple: 0.17×
• Total profit: $-23,016
• Equity at exit: $14,761

10-year hold

• IRR: -55.9%
• Equity multiple: -0.40×
• Total profit: $-38,773
• Equity at exit: $8,560

Cash invested: $27,720 (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 33417

• Home prices YoY: -29.2%
• Rents YoY: 0.0%
• Active inventory: 481
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,417 high
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$485
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $-50

Break-even live

Break-even rent $1,480

Max offer price $91,804

Occupancy floor 99%

Sensitivity live

Price	-10% $19	-5% $-16	+0% $-50	+5% $-84	+10% $-118
Rent	-10% $-162	-5% $-106	+0% $-50	+5% $6	+10% $62
Rate	-1.0pp $0	-0.5pp $-25	base $-50	+0.5pp $-75	+1.0pp $-101

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 Stratford N West Palm Beach, FL	1.0	1.5	740	$1,600	$2.16	20d	1	0.15mi
145 Dorchester E Unit 145 West Palm Beach, FL	1.0	1.5	646	$1,300	$2.01	9d	1	0.27mi
294 Chatham S Unit O West Palm Beach, FL	1.0	1.0	645	$1,300	$2.02	26d	1	0.28mi
51 Dorchester E Unit 51 West Palm Beach, FL	1.0	1.0	570	$1,400	$2.46	26d	1	0.28mi
358 Chatham R Unit R West Palm Beach, FL	1.0	1.5	684	$1,200	$1.75	20d	1	0.29mi
358 Chatham R Unit R West Palm Beach, FL	1.0	1.5	684	$1,295	$1.89	26d	1	0.29mi
49 Cambridge B Unit B West Palm Beach, FL	1.0	1.5	684	$1,350	$1.97	5d	1	0.36mi
49 Cambridge B Unit B West Palm Beach, FL	1.0	1.5	684	$1,450	$2.12	26d	1	0.36mi
17 Cambridge a West Palm Beach, FL	1.0	1.5	684	$1,200	$1.75	26d	1	0.36mi
188 Cambridge H Unit H West Palm Beach, FL	1.0	1.5	684	$1,345	$1.97	7d	1	0.39mi
11 Cambridge E Unit 11 West Palm Beach, FL	1.0	1.5	684	$1,500	$2.19	26d	1	0.40mi
201 Canterbury I Unit I West Palm Beach, FL	1.0	1.0	570	$1,250	$2.19	26d	1	0.45mi
175 Canterbury H #175 West Palm Beach, FL	1.0	1.0	570	$1,250	$2.19	17d	1	0.45mi
204 Canterbury I Unit I West Palm Beach, FL	1.0	1.0	570	$1,350	$2.37	26d	1	0.45mi
142 Kent I West Palm Beach, FL	1.0	1.5	684	$1,475	$2.16	26d	1	0.45mi
118 Kent H West Palm Beach, FL	1.0	1.0	570	$1,325	$2.32	26d	1	0.45mi
210 Canterbury E Unit 1 West Palm Beach, FL	1.0	1.0	570	$1,375	$2.41	14d	1	0.46mi
107 Kent St Unit 107* West Palm Beach, FL	1.0	1.0	570	$1,500	$2.63	26d	1	0.48mi
159 Sussex H West Palm Beach, FL	1.0	1.0	570	$1,350	$2.37	26d	1	0.57mi
176 Sussex I Unit I West Palm Beach, FL	1.0	1.0	570	$1,400	$2.46	26d	1	0.57mi
172 Sussex I Unit I West Palm Beach, FL	1.0	1.0	570	$1,500	$2.63	26d	1	0.57mi
4 Sussex a West Palm Beach, FL	1.0	1.0	615	$1,350	$2.20	17d	1	0.57mi
176 Sussex I Unit I West Palm Beach, FL	1.0	1.0	570	$1,400	$2.46	19d	1	0.57mi
166 Sussex I Unit I West Palm Beach, FL	1.0	1.0	570	$1,500	$2.63	26d	1	0.57mi
333 Northampton Q Unit 333 West Palm Beach, FL	1.0	1.0	570	$1,300	$2.28	26d	1	0.57mi
16 Sussex E Unit 16 West Palm Beach, FL	1.0	1.0	570	$1,350	$2.37	14d	1	0.58mi
235 Northampton L #235 West Palm Beach, FL	1.0	1.0	615	$1,300	$2.11	12d	1	0.60mi
22 Andover a West Palm Beach, FL	1.0	1.5	684	$1,375	$2.01	26d	1	0.60mi
243 Northampton M Unit M West Palm Beach, FL	1.0	1.0	570	$1,400	$2.46	9d	1	0.62mi
197 Sussex E Unit 197 West Palm Beach, FL	1.0	1.5	684	$1,500	$2.19	26d	1	0.62mi
92 Berkshire Cres Unit 92 West Palm Beach, FL	1.0	1.0	615	$1,350	$2.20	26d	1	0.63mi
34 Andover B West Palm Beach, FL	1.0	1.0	602	$1,250	$2.08	1d	1	0.64mi
89 Berkshire D #89 West Palm Beach, FL	1.0	1.0	585	$1,150	$1.97	26d	1	0.64mi
89 Berkshire D #89 West Palm Beach, FL	1.0	1.0	585	$1,050	$1.79	9d	1	0.64mi
216 Berkshire K Unit K West Palm Beach, FL	1.0	1.0	585	$1,400	$2.39	22d	1	0.64mi
231 Berkshire K #231 West Palm Beach, FL	1.0	1.0	585	$1,150	$1.97	4d	1	0.65mi
150 Bedford E West Palm Beach, FL	1.0	1.0	570	$1,375	$2.41	9d	1	0.66mi
3 Berkshire a West Palm Beach, FL	1.0	1.0	585	$1,900	$3.25	26d	1	0.66mi
220 Berkshire K #220 West Palm Beach, FL	1.0	1.0	585	$1,300	$2.22	22d	1	0.67mi
100 Andover D West Palm Beach, FL	1.0	1.5	684	$1,400	$2.05	26d	1	0.67mi

HOA detail condo

• Monthly dues: $485 · $5,820/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-21
   days on market $99,000 Active 180 DOM
2. 2026-06-18
   days on market $99,000 Active 177 DOM
3. 2026-06-17
   days on market $99,000 Active 176 DOM
4. 2026-06-16
   days on market $99,000 Active 175 DOM
5. 2026-06-15
   days on market $99,000 Active 174 DOM
6. 2026-06-13
   days on market $99,000 Active 172 DOM
7. 2026-06-09
   days on market $99,000 Active 168 DOM
8. 2026-06-07
   days on market $99,000 Active 166 DOM
9. 2026-06-04
   days on market $99,000 Active 163 DOM
10. 2026-06-03
    days on market $99,000 Active 162 DOM
11. 2026-06-01
    days on market $99,000 Active 160 DOM
12. 2026-05-31
    days on market $99,000 Active 159 DOM
13. 2026-05-20
    price $99,000
14. 2026-05-07
    price $110,000
15. 2026-03-05
    price $115,000
16. 2025-12-23
    listed $120,000 Active
17. 2025-11-10
    historical
18. 2024-11-28
    price $135,000
19. 2022-05-26
    listed $125,000 Active
20. 2013-09-22
    historical 148-char remark

    Show marketing remark (148 chars)

    LOVELY 1BD, 1 1/2 BATH IN ACTIVE COMMUNITY. NEWER APPLIANCES, NEW VERTICALS. OWNER IS MOTIVATED. COURTESY KEY AVAILABLE AT OUR BOYNTON BEACH OFFICE.

21. 2000-02-14
    listed $20,000 148-char remark

    Show marketing remark (148 chars)

    LOVELY 1BD, 1 1/2 BATH IN ACTIVE COMMUNITY. NEWER APPLIANCES, NEW VERTICALS. OWNER IS MOTIVATED. COURTESY KEY AVAILABLE AT OUR BOYNTON BEACH OFFICE.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 27 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: $17,004
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$1,360
• − Management: −$1,360
• − HOA: −$5,820
• − Depreciation: −$2,880
• Taxable loss: −$1,942
• Est. tax savings @ 24.0%: +$466
• After-tax cash flow: $-131/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

• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 38,079
• Household income: $51,605
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 2548.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 34% Black 30% Hispanic / Latino 27% Two or more races 16% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Cuban 5% Dominican 2%
• Common ancestry: Hispanic 10% Romanian 3% Scotch-Irish 1%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 58% English-only · Spanish 24% French/Haitian/Cajun 11% Other Indo-European 3%

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: ▼ -138.62%
• Current HPI: 335.8396
• Rent YoY: ▬ 0.02%
• 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

+395.0% since first listed

9 events — show timeline

• 2026-05-20 Price Changed $99,000 MARMLS
• 2026-05-07 Price Changed $110,000 MARMLS
• 2026-03-05 Price Changed $115,000 MARMLS
• 2025-12-23 Listed $120,000 MARMLS
• 2025-11-10 Listing Removed — MARMLS
• 2024-11-28 Price Changed $135,000 MARMLS
• 2022-05-26 Listed $125,000 MARMLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2000-02-14 Listed $20,000 Beaches MLS