1638 Embassy Dr #205 · West Palm Beach, FL 33401

$149,999

2 bd · 2.0 ba · 890 sqft · Condo public records · 48 Days on market

Built 1973 $595/mo HOA · 19% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Incredible Investment Property...Lease immediately after purchase! Brand new kitchen with quartz countertops, soft close cabinets, stainless steel LG appliances, & vinyl flooring throughout the kitchen & living areas. The Condo has also been freshly painted throughout. Both bedrooms have laminate flooring & walk-in closets. The primary bath has been remodeled with a beautiful tiled shower & dual shower heads. The second bath has been remodeled with a tub/shower combo. The AC & Water Heater were both replaced in 2019. The condo also comes with an additional storage room & a fully screened 70ft balcony. Centrally located in West Palm Beach: Close to I-95, the turnpike, Outlets, City Place, Kravis Center, Clematis/Downtown, Convention Center, PBI Airport, Beaches, PB Island, & More!!

Key facts

• $595 HOA
• 2 parking spots
• Built 1973

Property features AI

Finance

• Other: Association fees include insurance, sewer, trash, water, common areas, and elevator; Pets not allowed
• HOA & community: Monthly HOA with amenities including elevator(s), parking, storage, trash chute, and sidewalks; HOA fee paid monthly (fee listed separately)

Exterior

• Parking: Two assigned parking spaces plus guest and open parking (one open space listed)
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Resale property; North-facing; Four-story building
• Construction: CBS construction
• Exterior features: No waterfront; Rolled/hot mop roof

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Two main-level bedrooms
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; Walk-in closets; Split bedroom layout; Blinds and drapes
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $794 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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: Roosevelt Elementary School (math 22% / reading 22%, grade F, #2,080 of 2,144 statewide, top 97%, 324 students, 86% 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 78% FRL vs 52% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 50% district-wide (-28 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 rising fast (+5.2%/yr); 506 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $3,067/mo this rent would consume 54% 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 $4k 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 $42k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 6 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: 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 $145,499 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1973 — 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. 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: 2.04% ✓
• Cap rate: 12.65%
• Cash-on-cash: 22.69%
• DSCR: 2.01
• GRM: 4.1

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: 18.9%
• Equity multiple: 1.80×
• Total profit: $33,464
• Equity at exit: $22,365

10-year hold

• IRR: 29.2%
• Equity multiple: 3.98×
• Total profit: $124,998
• Equity at exit: $12,969

Cash invested: $42,000 (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 33401

• Rents YoY: 5.2%
• Active inventory: 506
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $3,067 high
• Mortgage (P&I): −$787
• Tax from tax record: −$184 /mo · $2,214/yr
• Insurance: −$62
• HOA: −$595
• Vacancy / Maint / Mgmt: −$644
• Net cashflow: $794

Break-even live

Break-even rent $2,061

Max offer price $149,999

Occupancy floor 69%

Sensitivity live

Price	-10% $879	-5% $837	+0% $794	+5% $752	+10% $709
Rent	-10% $552	-5% $673	+0% $794	+5% $915	+10% $1,036
Rate	-1.0pp $870	-0.5pp $832	base $794	+0.5pp $755	+1.0pp $716

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	8d	1	0.37mi
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$2,705	$2.53	20d	19	0.82mi
1104 State St Unit C West Palm Beach, FL	3.0	1.0	875	$3,000	$3.43	24d	1	1.18mi
823 14th St West Palm Beach, FL	3.0	1.0	1000	$3,495	$3.50	24d	1	1.36mi
921 8th St West Palm Beach, FL	3.0	1.0	1000	$3,395	$3.40	24d	1	1.36mi

HOA detail condo

• Monthly dues: $595 · $7,140/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 38 events

1. 2026-06-18
   days on market $149,999 Active 48 DOM
2. 2026-06-17
   days on market $149,999 Active 47 DOM
3. 2026-06-16
   days on market $149,999 Active 46 DOM
4. 2026-06-15
   days on market $149,999 Active 45 DOM
5. 2026-06-13
   days on market $149,999 Active 43 DOM
6. 2026-06-09
   days on market $149,999 Active 39 DOM
7. 2026-06-08
   days on market $149,999 Active 38 DOM
8. 2026-06-07
   days on market $149,999 Active 37 DOM
9. 2026-06-04
   pricedays on market $149,999 Active 34 DOM
10. 2026-06-03
    days on market $155,000 Active 33 DOM
11. 2026-06-02
    days on market $155,000 Active 32 DOM
12. 2026-06-01
    days on market $155,000 Active 31 DOM
13. 2026-05-31
    days on market $155,000 Active 30 DOM
14. 2026-04-30
    listed $155,000 Active
15. 2025-05-06
    soldstatus $155,000
16. 2025-04-30
    soldstatus $155,000 Closed 824-char remark

    Show marketing remark (824 chars)

    Incredible Investment Property...Lease immediately after purchase! Brand new kitchen with quartz countertops, soft close cabinets, stainless steel LG appliances, & vinyl flooring throughout the kitchen & living areas. The Condo has also been freshly painted throughout. Both bedrooms have laminate flooring & walk-in closets. The primary bath has been remodeled with a beautiful tiled shower & dual shower heads. The second bath has been remodeled with a tub/shower combo. The AC & Water Heater were both replaced in 2019. The condo also comes with an additional storage room & a fully screened 70ft balcony. Centrally located in West Palm Beach: Close to I-95, the turnpike, Outlets, City Place, Kravis Center, Clematis/Downtown, Convention Center, PBI Airport, Beaches, PB Island, & More!!

17. 2025-04-15
    status Pending 824-char remark

    Show marketing remark (824 chars)

    Incredible Investment Property...Lease immediately after purchase! Brand new kitchen with quartz countertops, soft close cabinets, stainless steel LG appliances, & vinyl flooring throughout the kitchen & living areas. The Condo has also been freshly painted throughout. Both bedrooms have laminate flooring & walk-in closets. The primary bath has been remodeled with a beautiful tiled shower & dual shower heads. The second bath has been remodeled with a tub/shower combo. The AC & Water Heater were both replaced in 2019. The condo also comes with an additional storage room & a fully screened 70ft balcony. Centrally located in West Palm Beach: Close to I-95, the turnpike, Outlets, City Place, Kravis Center, Clematis/Downtown, Convention Center, PBI Airport, Beaches, PB Island, & More!!

18. 2025-02-24
    price $173,000 824-char remark

    Show marketing remark (824 chars)

    Incredible Investment Property...Lease immediately after purchase! Brand new kitchen with quartz countertops, soft close cabinets, stainless steel LG appliances, & vinyl flooring throughout the kitchen & living areas. The Condo has also been freshly painted throughout. Both bedrooms have laminate flooring & walk-in closets. The primary bath has been remodeled with a beautiful tiled shower & dual shower heads. The second bath has been remodeled with a tub/shower combo. The AC & Water Heater were both replaced in 2019. The condo also comes with an additional storage room & a fully screened 70ft balcony. Centrally located in West Palm Beach: Close to I-95, the turnpike, Outlets, City Place, Kravis Center, Clematis/Downtown, Convention Center, PBI Airport, Beaches, PB Island, & More!!

19. 2024-11-02
    price $189,900 824-char remark

    Show marketing remark (824 chars)

    Incredible Investment Property...Lease immediately after purchase! Brand new kitchen with quartz countertops, soft close cabinets, stainless steel LG appliances, & vinyl flooring throughout the kitchen & living areas. The Condo has also been freshly painted throughout. Both bedrooms have laminate flooring & walk-in closets. The primary bath has been remodeled with a beautiful tiled shower & dual shower heads. The second bath has been remodeled with a tub/shower combo. The AC & Water Heater were both replaced in 2019. The condo also comes with an additional storage room & a fully screened 70ft balcony. Centrally located in West Palm Beach: Close to I-95, the turnpike, Outlets, City Place, Kravis Center, Clematis/Downtown, Convention Center, PBI Airport, Beaches, PB Island, & More!!

20. 2024-09-26
    price $197,900 824-char remark

    Show marketing remark (824 chars)

    Incredible Investment Property...Lease immediately after purchase! Brand new kitchen with quartz countertops, soft close cabinets, stainless steel LG appliances, & vinyl flooring throughout the kitchen & living areas. The Condo has also been freshly painted throughout. Both bedrooms have laminate flooring & walk-in closets. The primary bath has been remodeled with a beautiful tiled shower & dual shower heads. The second bath has been remodeled with a tub/shower combo. The AC & Water Heater were both replaced in 2019. The condo also comes with an additional storage room & a fully screened 70ft balcony. Centrally located in West Palm Beach: Close to I-95, the turnpike, Outlets, City Place, Kravis Center, Clematis/Downtown, Convention Center, PBI Airport, Beaches, PB Island, & More!!

21. 2024-08-10
    price $199,900 824-char remark

    Show marketing remark (824 chars)

    Incredible Investment Property...Lease immediately after purchase! Brand new kitchen with quartz countertops, soft close cabinets, stainless steel LG appliances, & vinyl flooring throughout the kitchen & living areas. The Condo has also been freshly painted throughout. Both bedrooms have laminate flooring & walk-in closets. The primary bath has been remodeled with a beautiful tiled shower & dual shower heads. The second bath has been remodeled with a tub/shower combo. The AC & Water Heater were both replaced in 2019. The condo also comes with an additional storage room & a fully screened 70ft balcony. Centrally located in West Palm Beach: Close to I-95, the turnpike, Outlets, City Place, Kravis Center, Clematis/Downtown, Convention Center, PBI Airport, Beaches, PB Island, & More!!

22. 2024-07-29
    listed $205,000 Active 824-char remark

    Show marketing remark (824 chars)

    Incredible Investment Property...Lease immediately after purchase! Brand new kitchen with quartz countertops, soft close cabinets, stainless steel LG appliances, & vinyl flooring throughout the kitchen & living areas. The Condo has also been freshly painted throughout. Both bedrooms have laminate flooring & walk-in closets. The primary bath has been remodeled with a beautiful tiled shower & dual shower heads. The second bath has been remodeled with a tub/shower combo. The AC & Water Heater were both replaced in 2019. The condo also comes with an additional storage room & a fully screened 70ft balcony. Centrally located in West Palm Beach: Close to I-95, the turnpike, Outlets, City Place, Kravis Center, Clematis/Downtown, Convention Center, PBI Airport, Beaches, PB Island, & More!!

23. 2008-08-03
    historical
24. 2008-07-29
    listed $130,000
25. 2006-01-12
    soldstatus $153,000
26. 2005-12-29
    soldstatus $15,300
27. 2005-12-19
    historical
28. 2005-09-09
    listed $159,900
29. 2004-04-29
    soldstatus $79,900
30. 2004-04-28
    soldstatus $79,900
31. 2004-03-23
    historical
32. 2004-03-11
    listed $80,500
33. 2003-10-01
    soldstatus $67,000
34. 1999-04-15
    soldstatus $46,000
35. 1999-04-14
    soldstatus $46,000
36. 1999-03-26
    historical
37. 1999-03-12
    listed $45,000
38. 1988-08-24
    soldstatus $55,000

ⓘ 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: $2,214 · $184/mo
• Projected year-2 tax: $2,214 · $184/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $36,802
• − Mortgage interest: −$8,402
• − Property taxes: −$2,214
• − Insurance: −$750
• − Repairs & maintenance: −$2,944
• − Management: −$2,944
• − HOA: −$7,140
• − Depreciation: −$4,364
• Taxable income: $8,044
• Est. tax owed @ 24.0%: −$1,931
• After-tax cash flow: $7,600/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

+181.8% since first listed

25 events — show timeline

• 2026-04-30 Listed $155,000 Beaches MLS
• 2025-05-06 Sold (Public Records) $155,000 Public Records
• 2025-04-30 Sold (MLS) $155,000 Beaches MLS
• 2025-04-15 Pending — Beaches MLS
• 2025-02-24 Price Changed $173,000 Beaches MLS
• 2024-11-02 Price Changed $189,900 Beaches MLS
• 2024-09-26 Price Changed $197,900 Beaches MLS
• 2024-08-10 Price Changed $199,900 Beaches MLS
• 2024-07-29 Listed $205,000 Beaches MLS
• 2008-08-03 Listing Removed — Beaches MLS
• 2008-07-29 Listed $130,000 Beaches MLS
• 2006-01-12 Sold (Public Records) $153,000 Public Records
• 2005-12-29 Sold (MLS) $15,300 Beaches MLS
• 2005-12-19 Listing Removed — Beaches MLS
• 2005-09-09 Listed $159,900 Beaches MLS
• 2004-04-29 Sold (Public Records) $79,900 Public Records
• 2004-04-28 Sold (MLS) $79,900 Beaches MLS
• 2004-03-23 Listing Removed — Beaches MLS
• 2004-03-11 Listed $80,500 Beaches MLS
• 2003-10-01 Sold (Public Records) $67,000 Public Records
• 1999-04-15 Sold (MLS) $46,000 Beaches MLS
• 1999-04-14 Sold (Public Records) $46,000 Public Records
• 1999-03-26 Listing Removed — Beaches MLS
• 1999-03-12 Listed $45,000 Beaches MLS
• 1988-08-24 Sold (Public Records) $55,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $2,214 · +3.6% YoY. Source: county tax records.