342 Southwind Dr #102 · North Palm Beach, FL 33408

$214,999

1 bd · 1.0 ba · 722 sqft · Condo public records · 77 Days on market

Built 1972 $643/mo HOA · 21% 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 +26.0/30.0
• 1% rule +9.4/10.0
• DSCR +8.7/10.0
• 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

WATCH THE BOATS GO BY. IMMACULATE UNIT WITH RECENT WOOD FLOORS, UPGRADED BATHROOM. SCREENED PATIO WITH STORM SHUTTER. CATS ALLOWED IN APARTMENT. T. PRIVATE OWNER RENTS DOCKS TO RESIDENTS.

Key facts

• Renovated bath
• Granite countertops
• Redesigned kitchen

Tags

• REDESIGNED KITCHEN
• CUSTOM WHITE CABINETRY
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• DECORATIVE GLASS BACKSPLASH
• RENOVATED BATH

Property features AI

Finance

• HOA & community: River Key Condo association; Community amenities include laundry, parking and pool; HOA dues paid quarterly; HOA fee covers cable TV, insurance, internet, grounds maintenance, structure maintenance, water, common areas, reserve funds, roof repairs and recreation facility

Exterior

• Parking: Assigned parking; Guest parking; One parking space
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; One level; Faces west; Resale property; River Key building
• Construction: CBS construction; Flat roof; Two-story building
• Exterior features: Covered patio; Screened patio; Patio; Ocean access waterfront

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator; Electric water heater
• Bedrooms: One main-level bedroom
• Flooring: Vinyl
• Bathrooms: One full bathroom
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Unfurnished; Sliding windows
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $535 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $202k (6.0% 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: Teen Parent Program - Pk (19 students, 0% FRL); 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-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; 406 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 77 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y ago; this cycle's ask has dropped $45k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; list at $215k implies a 242% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: moderate 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 $202,099 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.44% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.67%
• DSCR: 1.47
• GRM: 5.8

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: -4.0%
• Equity multiple: 0.85×
• Total profit: $-8,740
• Equity at exit: $32,057

10-year hold

• IRR: 1.5%
• Equity multiple: 1.09×
• Total profit: $5,318
• Equity at exit: $18,589

Cash invested: $60,200 (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: 406
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $3,101 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$55 /mo · $657/yr
• Insurance: −$90
• HOA: −$643
• Vacancy / Maint / Mgmt: −$651
• Net cashflow: $535

Break-even live

Break-even rent $2,424

Max offer price $214,999

Occupancy floor 78%

Sensitivity live

Price	-10% $657	-5% $596	+0% $535	+5% $474	+10% $413
Rent	-10% $290	-5% $413	+0% $535	+5% $658	+10% $780
Rate	-1.0pp $643	-0.5pp $590	base $535	+0.5pp $479	+1.0pp $423

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: $53,750
• Closing costs: $6,450
• 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	26d	1	0.13mi
913 Lake Shore Dr Lake Park, FL	1.0–2.0	1.0–2.0	1066	$2,283	$2.14	1d	10	0.93mi

HOA detail condo

• Monthly dues: $643 · $7,716/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-22
   days on market $214,999 Active 77 DOM
2. 2026-06-21
   days on market $214,999 Active 76 DOM
3. 2026-06-18
   days on market $214,999 Active 73 DOM
4. 2026-06-17
   days on market $214,999 Active 72 DOM
5. 2026-06-16
   days on market $214,999 Active 71 DOM
6. 2026-06-15
   pricedays on market $214,999 Active 70 DOM
7. 2026-06-13
   days on market $229,888 Active 68 DOM
8. 2026-06-09
   days on market $229,888 Active 64 DOM
9. 2026-06-08
   days on market $229,888 Active 63 DOM
10. 2026-06-07
    days on market $229,888 Active 62 DOM
11. 2026-06-04
    days on market $229,888 Active 59 DOM
12. 2026-06-03
    days on market $229,888 Active 58 DOM
13. 2026-06-02
    days on market $229,888 Active 57 DOM
14. 2026-06-01
    days on market $229,888 Active 56 DOM
15. 2026-05-31
    days on market $229,888 Active 55 DOM
16. 2026-05-13
    price $229,888
17. 2026-04-06
    listed $259,888 Active
18. 2009-11-23
    historical
19. 2009-01-21
    listed $89,999
20. 2002-04-17
    soldstatus $62,900
21. 2002-04-15
    soldstatus $62,900 187-char remark

    Show marketing remark (187 chars)

    WATCH THE BOATS GO BY. IMMACULATE UNIT WITH RECENT WOOD FLOORS, UPGRADED BATHROOM. SCREENED PATIO WITH STORM SHUTTER. CATS ALLOWED IN APARTMENT. T. PRIVATE OWNER RENTS DOCKS TO RESIDENTS.

22. 2002-03-07
    historical 187-char remark

    Show marketing remark (187 chars)

    WATCH THE BOATS GO BY. IMMACULATE UNIT WITH RECENT WOOD FLOORS, UPGRADED BATHROOM. SCREENED PATIO WITH STORM SHUTTER. CATS ALLOWED IN APARTMENT. T. PRIVATE OWNER RENTS DOCKS TO RESIDENTS.

23. 2002-03-04
    listed $61,900 187-char remark

    Show marketing remark (187 chars)

    WATCH THE BOATS GO BY. IMMACULATE UNIT WITH RECENT WOOD FLOORS, UPGRADED BATHROOM. SCREENED PATIO WITH STORM SHUTTER. CATS ALLOWED IN APARTMENT. T. PRIVATE OWNER RENTS DOCKS TO RESIDENTS.

24. 2000-06-02
    soldstatus $40,000
25. 1991-08-14
    soldstatus $52,000

ⓘ 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: $657 · $55/mo
• Projected year-2 tax: $1,784 · $149/mo
• Expected delta: +$1,128/yr (+$94/mo · 171.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 47% 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: $37,214
• − Mortgage interest: −$12,043
• − Property taxes: −$657
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,977
• − Management: −$2,977
• − HOA: −$7,716
• − Depreciation: −$6,255
• Taxable income: $3,514
• Est. tax owed @ 24.0%: −$843
• After-tax cash flow: $5,578/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

+342.1% since first listed

10 events — show timeline

• 2026-05-13 Price Changed $229,888 Beaches MLS
• 2026-04-06 Listed $259,888 Beaches MLS
• 2009-11-23 Listing Removed — Beaches MLS
• 2009-01-21 Listed $89,999 Beaches MLS
• 2002-04-17 Sold (Public Records) $62,900 Public Records
• 2002-04-15 Sold (MLS) $62,900 Beaches MLS
• 2002-03-07 Listing Removed — Beaches MLS
• 2002-03-04 Listed $61,900 Beaches MLS
• 2000-06-02 Sold (Public Records) $40,000 Public Records
• 1991-08-14 Sold (Public Records) $52,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $657 · +2.6% YoY. Source: county tax records.