4151 San Marino Blvd #101 · West Palm Beach, FL 33409

$218,000

3 bd · 2.0 ba · 1,300 sqft · Condo public records · 114 Days on market

Built 2002 $823/mo HOA · 26% of rent ↓ 7% since listing

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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 +14.5/30.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SEE BROKER REMARKS FOR SHOWING INSTRUCTIONS. MUST SEE!! BEAUTIFUL 3/2- AMAZING KITCHEN, STAINLESS STEEL APPLIANCES, GRANITE KITCHEN COUNTERS. LARGE LIVING ROOM, VERY LOVELY. TENANT OCCUPIED UNTIL 7/31/2022 PAYING $1575/MONTH. INVESTORS ONLY!

Key facts

• Corner location
• Open floor concept
• Split bedroom layout

Tags

• FIRST FLOOR LIVING
• IN UNIT LAUNDRY
• CORNER LOCATION
• OPEN FLOOR CONCEPT
• SPLIT BEDROOM LAYOUT
• NEAR CACTI PARK

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Community amenities: basketball court, billiard room, fitness center, playground, pool; Monthly HOA fee

Exterior

• Parking: 2 open parking spaces
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Water available; Sewer available
• Home design: Condominium; Resale property; Northeast-facing; 3 total stories
• Construction: Constructed with CBS (concrete block and stucco)
• Exterior features: Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Split bedroom layout; Unfurnished
• Laundry & utility: Laundry inside the unit

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $218k.

Deal economics

• At list price, monthly cash flow is $49 ($590/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $218k).
• Recommended offer: $198k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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: Seminole Trails Elementary School (math 26% / reading 36%, grade F, #1,854 of 2,144 statewide, top 87%, 650 students, 73% 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 72% FRL vs 52% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 50% district-wide (-23 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 soft (-0.1%/yr); 189 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).

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 114 days — a 9% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 20 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 $170k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $198,380 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.45% ✓
• Cap rate: 6.56%
• Cash-on-cash: 0.97%
• DSCR: 1.04
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.0%
• Equity multiple: 0.33×
• Total profit: $-40,824
• Equity at exit: $32,505

10-year hold

• IRR: -30.5%
• Equity multiple: -0.06×
• Total profit: $-64,745
• Equity at exit: $18,849

Cash invested: $61,040 (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 33409

• Home prices YoY: -25.6%
• Rents YoY: -0.1%
• Active inventory: 189
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $3,158 high
• Mortgage (P&I): −$1,143
• Tax from tax record: −$389 /mo · $4,664/yr
• Insurance: −$91
• HOA: −$823
• Vacancy / Maint / Mgmt: −$663
• Net cashflow: $49

Break-even live

Break-even rent $3,096

Max offer price $218,000

Occupancy floor 93%

Sensitivity live

Price	-10% $173	-5% $111	+0% $49	+5% $-13	+10% $-74
Rent	-10% $-200	-5% $-76	+0% $49	+5% $174	+10% $299
Rate	-1.0pp $159	-0.5pp $105	base $49	+0.5pp $-7	+1.0pp $-65

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: $54,500
• Closing costs: $6,540
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4567 Brook Dr West Palm Beach, FL	3.0	2.0	1528	$3,000	$1.96	25d	1	0.19mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$3,108	$2.54	18d	60	0.21mi
4385 Willow Brook Cir West Palm Beach, FL	3.0	2.0	1468	$3,200	$2.18	22d	1	0.31mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	25d	1	0.32mi
1211 Pine Sage Cir West Palm Beach, FL	3.0	2.0	1367	$3,200	$2.34	6d	1	0.81mi
3810 Rowena Cir West Palm Beach, FL	2.0	2.0	1505	$3,000	$1.99	8d	1	1.09mi
3810 Rowena Cir West Palm Beach, FL	2.0	2.0	1505	$3,150	$2.09	14d	1	1.09mi
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	25d	1	1.26mi
2480 Presidential Way #902 West Palm Beach, FL	2.0	2.0	1855	$4,650	$2.51	6d	1	1.29mi
2480 Presidential Way #1903 West Palm Beach, FL	2.0	2.0	1855	$4,650	$2.51	25d	1	1.29mi
2450 Presidential Way #7 West Palm Beach, FL	2.0	2.0	1855	$4,700	$2.53	3d	1	1.33mi
2450 Presidential Way #7 West Palm Beach, FL	2.0	2.0	1855	$4,700	$2.53	25d	1	1.33mi
3590 Village Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1074	$3,295	$3.07	0d	30	1.40mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	25d	1	1.42mi
2820 Tennis Club Dr #408 West Palm Beach, FL	3.0	2.0	1610	$3,800	$2.36	25d	1	1.47mi

HOA detail condo

• Monthly dues: $823 · $9,876/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $218,000 Active 114 DOM
2. 2026-06-17
   days on market $218,000 Active 113 DOM
3. 2026-06-16
   days on market $218,000 Active 112 DOM
4. 2026-06-15
   days on market $218,000 Active 111 DOM
5. 2026-06-13
   days on market $218,000 Active 109 DOM
6. 2026-06-09
   days on market $218,000 Active 105 DOM
7. 2026-06-07
   days on market $218,000 Active 103 DOM
8. 2026-06-04
   days on market $218,000 Active 100 DOM
9. 2026-06-03
   days on market $218,000 Active 99 DOM
10. 2026-06-02
    days on market $218,000 Active 98 DOM
11. 2026-06-01
    days on market $218,000 Active 97 DOM
12. 2026-05-31
    days on market $218,000 Active 96 DOM
13. 2026-05-11
    price $218,000
14. 2026-02-24
    listed $220,000 Active
15. 2025-10-16
    historical $2,250
16. 2025-07-30
    listed $2,250
17. 2025-07-30
    historical $2,250
18. 2025-07-22
    listed $2,250
19. 2025-07-17
    historical $2,250
20. 2025-06-29
    listed $2,250
21. 2025-06-29
    historical $2,250
22. 2025-06-18
    listed $2,250
23. 2025-06-14
    historical $2,250
24. 2025-06-06
    listed $2,250
25. 2024-04-01
    historical $2,250
26. 2024-03-05
    listed $2,250
27. 2024-02-27
    historical $2,250
28. 2023-12-31
    listed $2,250
29. 2023-11-19
    historical $2,250
30. 2023-11-19
    listed $2,250
31. 2021-08-05
    soldstatus $170,000 Closed 241-char remark

    Show marketing remark (241 chars)

    SEE BROKER REMARKS FOR SHOWING INSTRUCTIONS. MUST SEE!! BEAUTIFUL 3/2- AMAZING KITCHEN, STAINLESS STEEL APPLIANCES, GRANITE KITCHEN COUNTERS. LARGE LIVING ROOM, VERY LOVELY. TENANT OCCUPIED UNTIL 7/31/2022 PAYING $1575/MONTH. INVESTORS ONLY!

32. 2021-06-29
    status Pending 241-char remark

    Show marketing remark (241 chars)

    SEE BROKER REMARKS FOR SHOWING INSTRUCTIONS. MUST SEE!! BEAUTIFUL 3/2- AMAZING KITCHEN, STAINLESS STEEL APPLIANCES, GRANITE KITCHEN COUNTERS. LARGE LIVING ROOM, VERY LOVELY. TENANT OCCUPIED UNTIL 7/31/2022 PAYING $1575/MONTH. INVESTORS ONLY!

33. 2021-03-25
    listed $172,000 Active 241-char remark

    Show marketing remark (241 chars)

    SEE BROKER REMARKS FOR SHOWING INSTRUCTIONS. MUST SEE!! BEAUTIFUL 3/2- AMAZING KITCHEN, STAINLESS STEEL APPLIANCES, GRANITE KITCHEN COUNTERS. LARGE LIVING ROOM, VERY LOVELY. TENANT OCCUPIED UNTIL 7/31/2022 PAYING $1575/MONTH. INVESTORS ONLY!

34. 2021-03-25
    historical

    Show marketing remark (241 chars)

    SEE BROKER REMARKS FOR SHOWING INSTRUCTIONS. MUST SEE!! BEAUTIFUL 3/2- AMAZING KITCHEN, STAINLESS STEEL APPLIANCES, GRANITE KITCHEN COUNTERS. LARGE LIVING ROOM, VERY LOVELY. TENANT OCCUPIED UNTIL 7/31/2022 PAYING $1575/MONTH. INVESTORS ONLY!

35. 2020-12-01
    listed $172,000 Active
36. 2020-12-01
    historical
37. 2020-10-12
    price $172,000
38. 2020-08-07
    price $174,000
39. 2020-06-24
    listed $175,000 Active
40. 2020-04-22
    historical
41. 2019-06-13
    price $175,000
42. 2019-04-22
    listed $160,000 Active
43. 2019-04-22
    historical
44. 2018-10-10
    listed $161,000 Active
45. 2018-10-10
    historical
46. 2018-10-08
    price $161,000
47. 2017-12-08
    listed $165,000 Active
48. 2015-05-26
    soldstatus $150,000
49. 2015-04-30
    soldstatus $112,500
50. 2014-10-16
    historical

ⓘ 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: $4,664 · $389/mo
• Projected year-2 tax: $4,664 · $389/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 6 d/yr ≥106°F today · 20 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: $37,897
• − Mortgage interest: −$12,211
• − Property taxes: −$4,664
• − Insurance: −$1,090
• − Repairs & maintenance: −$3,032
• − Management: −$3,032
• − HOA: −$9,876
• − Depreciation: −$6,342
• Taxable loss: −$2,350
• Est. tax savings @ 24.0%: +$564
• After-tax cash flow: $1,154/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): 33,489
• Household income: $67,073
• Rent vs Own: 55.3% rent · 44.7% own
• Severe rent burden: 1333.0

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 0.70)
• Race & ethnicity: Hispanic / Latino 36% Black 31% White 27% Two or more races 21% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 8% Dominican 1%
• Common ancestry: Hispanic 8% Romanian 1% Lithuanian 1%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 55% English-only · Spanish 30% French/Haitian/Cajun 10% Other Indo-European 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: ▼ -128.54%
• Current HPI: 374.2506
• Rent YoY: ▼ -0.15%
• 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

-6.8% since first listed

49 events — show timeline

• 2026-05-11 Price Changed $218,000 Beaches MLS
• 2026-02-24 Listed $220,000 Beaches MLS
• 2025-10-16 Rental Removed $2,250 RMLSFL
• 2025-07-30 Listed for Rent $2,250 RMLSFL
• 2025-07-30 Rental Removed $2,250 RENTSPREE
• 2025-07-22 Listed for Rent $2,250 RENTSPREE
• 2025-07-17 Rental Removed $2,250 RMLSFL
• 2025-06-29 Listed for Rent $2,250 RMLSFL
• 2025-06-29 Rental Removed $2,250 RENTSPREE
• 2025-06-18 Listed for Rent $2,250 RENTSPREE
• 2025-06-14 Rental Removed $2,250 RMLSFL
• 2025-06-06 Listed for Rent $2,250 RMLSFL
• 2024-04-01 Rental Removed $2,250 REALLYO
• 2024-03-05 Listed for Rent $2,250 REALLYO
• 2024-02-27 Rental Removed $2,250 REALLYO
• 2023-12-31 Listed for Rent $2,250 REALLYO
• 2023-11-19 Rental Removed $2,250 GFLMLS
• 2023-11-19 Listed for Rent $2,250 GFLMLS
• 2021-08-05 Sold (MLS) $170,000 Beaches MLS
• 2021-06-29 Pending — Beaches MLS
• 2021-03-25 Listing Removed — Beaches MLS
• 2021-03-25 Listed $172,000 Beaches MLS
• 2020-12-01 Listing Removed — Beaches MLS
• 2020-12-01 Listed $172,000 Beaches MLS
• 2020-10-12 Price Changed $172,000 Beaches MLS
• 2020-08-07 Price Changed $174,000 Beaches MLS
• 2020-06-24 Listed $175,000 Beaches MLS
• 2020-04-22 Listing Removed — Beaches MLS
• 2019-06-13 Price Changed $175,000 Beaches MLS
• 2019-04-22 Listing Removed — Beaches MLS
• 2019-04-22 Listed $160,000 Beaches MLS
• 2018-10-10 Listing Removed — Beaches MLS
• 2018-10-10 Listed $161,000 Beaches MLS
• 2018-10-08 Price Changed $161,000 Beaches MLS
• 2017-12-08 Listed $165,000 Beaches MLS
• 2015-05-26 Sold (Public Records) $150,000 Public Records
• 2015-04-30 Sold (Public Records) $112,500 Public Records
• 2014-10-16 Listing Removed — Beaches MLS
• 2014-09-26 Listing Removed — Beaches MLS
• 2014-08-24 Listed $120,000 Beaches MLS
• 2013-02-27 Sold (Public Records) $47,000 Public Records
• 2013-02-26 Sold (MLS) $47,000 Beaches MLS
• 2013-02-01 Listing Removed — Beaches MLS
• 2012-03-06 Listing Removed — Beaches MLS
• 2012-02-16 Listed $54,500 Beaches MLS
• 2008-01-30 Listed $64,900 Beaches MLS
• 2006-07-06 Listed $233,900 Beaches MLS
• 2006-06-30 Listing Removed — Beaches MLS
• 2006-02-01 Listed $233,900 Beaches MLS

Property tax history

+10.9%/yr

Latest (2025): $4,664 · +12.0% YoY. Source: county tax records.