3475 S Ocean Blvd · Palm Beach, FL 33480

$490,000

2 bd · 2.0 ba · 1,395 sqft · SingleFamily · 40 Days on market

Built 1967 Poor condition

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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 +25.1/30.0
• DSCR +8.2/10.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +4.3/10.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

LIVE ON THE OCEAN IN PALM BEACH. 2/2,CONDO EXQUISITELY FURNISHED. MOVE RIGHT IN. MINUTES FROM LAKE WORTH & LANTANA BRIDGES. POOL,BEACH,CLUB HOUSE, GAME ROOM, BEAUTIFUL OCEAN VIEW. 24 HR DOORMAN SECURITY.THIS IS A MUST SEE!

Key facts

• Huge walk-in closet
• Built 1967
• Listed 39 days

Tags

• NEWLY RENOVATED KITCHEN
• HUGE WALK-IN CLOSET
• UNHINDERED OCEAN VIEW
• UNHINDERED INTRACOASTAL VIEW

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $490k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $490k).
• Recommended offer: $475k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#530 in FL) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A-; Watch: amenities F, commute F, cost of living 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: Lantana Elementary School (math 30% / reading 33%, grade F, #1,841 of 2,144 statewide, top 86%, 484 students, 79% FRL); Lantana Middle School (math 21% / reading 36%, grade F, #482 of 571 statewide, top 85%, 801 students, 78% FRL); Lake Worth High School (math 16% / reading 27%, grade F, #546 of 667 statewide, top 82%, 2,683 students, 71% FRL) — zoned schools average 76% FRL vs 52% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% 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 rising (+3.9%/yr); 447 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); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• In year one you build about $28k of equity ($3k loan paydown + $25k appreciation (5.1% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.1% appreciation + 3.9% rent growth), your $137k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($475k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y 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 $134k; list at $490k implies a 266% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $475,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.47%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.12% appreciation · 3.92% rent growth · sell at horizon

5-year hold

• IRR: 21.8%
• Equity multiple: 2.39×
• Total profit: $190,511
• Equity at exit: $281,103

10-year hold

• IRR: 21.7%
• Equity multiple: 4.83×
• Total profit: $525,770
• Equity at exit: $488,002

Cash invested: $137,200 (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 33480

• Home prices YoY: 1.1%
• Rents YoY: 3.9%
• Active inventory: 447
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $5,657 high
• Mortgage (P&I): −$2,570
• Tax est. 1.5%: −$612 /mo · $7,350/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,188
• Net cashflow: $1,083

Break-even live

Break-even rent $4,286

Max offer price $490,000

Occupancy floor 76%

Sensitivity live

Price	-10% $1,422	-5% $1,252	+0% $1,083	+5% $914	+10% $744
Rent	-10% $636	-5% $860	+0% $1,083	+5% $1,307	+10% $1,530
Rate	-1.0pp $1,330	-0.5pp $1,208	base $1,083	+0.5pp $956	+1.0pp $827

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: $122,500
• Closing costs: $14,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3475 S Ocean Blvd Palm Beach, FL	2.0	2.0	1395	$5,850	$4.19	26d	3	0.01mi
3475 S Ocean Blvd #3110 Palm Beach, FL	1.0	1.5	891	$2,600	$2.92	26d	1	0.04mi
3475 S Ocean Blvd #1030 Palm Beach, FL	1.0	2.0	1395	$5,500	$3.94	4d	1	0.04mi
3475 S Ocean Blvd #6110 Palm Beach, FL	1.0	1.5	891	$3,500	$3.93	26d	1	0.04mi
3475 S Ocean Blvd #6150 Palm Beach, FL	2.0	2.0	1395	$8,750	$6.27	26d	1	0.04mi
3475 S Ocean Blvd #3020 Palm Beach, FL	2.0	2.0	1395	$5,000	$3.58	26d	1	0.04mi
3460 S Ocean Blvd #4150 Palm Beach, FL	2.0	2.0	1436	$10,500	$7.31	26d	1	0.06mi
3456 S Ocean Blvd Apt 705 Palm Beach, FL	2.0	2.0	1457	$3,500	$2.40	26d	1	0.07mi
3456 S Ocean Blvd #6050 Palm Beach, FL	2.0	2.0	1482	$4,650	$3.14	26d	1	0.07mi
3456 S Ocean Blvd #105 Palm Beach, FL	2.0	2.0	1482	$12,000	$8.10	26d	1	0.07mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$9,500	$7.69	4d	10	0.11mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$9,500	$7.69	9d	9	0.11mi
3450 S Ocean Blvd #6010 Palm Beach, FL	2.0	2.0	1548	$5,500	$3.55	15d	1	0.11mi
3450 S Ocean Blvd #3280 Palm Beach, FL	1.0	1.0	952	$2,500	$2.63	26d	1	0.11mi
3450 S Ocean Blvd #1050 Palm Beach, FL	1.0	1.0	952	$2,950	$3.10	26d	1	0.11mi
3450 S Ocean Blvd #8120 Palm Beach, FL	1.0	1.5	1008	$3,500	$3.47	26d	1	0.11mi
3450 S Ocean Blvd #4270 Palm Beach, FL	1.0	1.0	924	$3,250	$3.52	26d	1	0.11mi
3520 S Ocean Blvd Unit H404 Palm Beach, FL	2.0	2.0	1176	$5,900	$5.02	26d	1	0.11mi
3540 S Ocean Blvd #612 Palm Beach, FL	2.0	2.0	983	$4,700	$4.78	9d	1	0.15mi
3540 S Ocean Blvd #208 Palm Beach, FL	2.0	2.0	983	$2,750	$2.80	5d	1	0.15mi
3540 S Ocean Blvd #608 Palm Beach, FL	2.0	2.0	983	$2,950	$3.00	26d	1	0.15mi
3540 S Ocean Blvd #216 Palm Beach, FL	2.0	2.0	983	$2,550	$2.59	23d	1	0.15mi
3540 S Ocean Blvd Palm Beach, FL	1.0	2.0	983	$4,000	$4.07	26d	1	0.15mi
3440 S Ocean Blvd Unit 307N Palm Beach, FL	2.0	2.0	1457	$8,500	$5.83	26d	1	0.16mi
3400 S Ocean Blvd Unit 1 C I Palm Beach, FL	2.0	2.0	1740	$12,000	$6.90	26d	1	0.26mi
3560 S Ocean Blvd #706 Palm Beach, FL	2.0	2.0	1340	$12,000	$8.96	22d	1	0.26mi
3560 S Ocean Blvd #907 Palm Beach, FL	2.0	2.0	1340	$7,800	$5.82	13d	1	0.26mi
3560 S Ocean Blvd #306 Palm Beach, FL	2.0	2.0	1380	$7,000	$5.07	20d	1	0.26mi
3560 S Ocean Blvd #907 Palm Beach, FL	2.0	2.0	1340	$7,500	$5.60	13d	1	0.26mi
3560 S Ocean Blvd #4 Palm Beach, FL	2.0	2.0	1340	$7,950	$5.93	26d	1	0.26mi
3560 S Ocean Blvd #502 Palm Beach, FL	2.0	2.0	1340	$9,500	$7.09	26d	1	0.26mi
3580 S Ocean Blvd Unit 6B Palm Beach, FL	1.0	1.5	1013	$2,500	$2.47	16d	1	0.34mi
3581 S Ocean Blvd Unit 2B Palm Beach, FL	1.0	1.5	940	$2,900	$3.09	18d	1	0.35mi
3581 S Ocean Blvd Unit 9A Palm Beach, FL	2.0	2.0	1192	$2,600	$2.18	18d	1	0.35mi
3589 S Ocean Blvd #614 Palm Beach, FL	2.0	2.0	1541	$4,200	$2.73	26d	1	0.39mi
3589 S Ocean Blvd #614 Palm Beach, FL	2.0	2.0	1541	$4,200	$2.73	22d	1	0.39mi
3589 S Ocean Blvd #314 Palm Beach, FL	2.0	2.5	1541	$3,000	$1.95	26d	1	0.39mi
3589 S Ocean Blvd #801 Palm Beach, FL	2.0	2.0	1541	$6,000	$3.89	13d	1	0.39mi
3601 S Ocean Blvd Palm Beach, FL	2.0	2.5	1408	$2,900	$2.06	21d	2	0.42mi
3601 S Ocean Blvd #308 Palm Beach, FL	2.0	2.5	1408	$3,250	$2.31	20d	1	0.43mi

Listing history 24 events

1. 2026-06-21
   days on market $490,000 Active 40 DOM
2. 2026-06-18
   days on market $490,000 Active 37 DOM
3. 2026-06-17
   days on market $490,000 Active 36 DOM
4. 2026-06-16
   days on market $490,000 Active 35 DOM
5. 2026-06-15
   days on market $490,000 Active 34 DOM
6. 2026-06-13
   days on market $490,000 Active 32 DOM
7. 2026-06-09
   days on market $490,000 Active 28 DOM
8. 2026-06-07
   days on market $490,000 Active 26 DOM
9. 2026-06-04
   days on market $490,000 Active 23 DOM
10. 2026-06-03
    days on market $490,000 Active 22 DOM
11. 2026-06-01
    days on market $490,000 Active 20 DOM
12. 2026-05-31
    days on market $490,000 Active 19 DOM
13. 2026-05-12
    listed $490,000 Active
14. 2025-08-30
    historical
15. 2025-02-20
    price $625,000
16. 2024-12-22
    price $675,000
17. 2024-09-27
    price $699,000
18. 2024-06-22
    listed $739,900 Active
19. 2001-03-09
    soldstatus $134,000 226-char remark

    Show marketing remark (226 chars)

    LIVE ON THE OCEAN IN PALM BEACH. 2/2,CONDO EXQUISITELY FURNISHED. MOVE RIGHT IN. MINUTES FROM LAKE WORTH & LANTANA BRIDGES. POOL,BEACH,CLUB HOUSE, GAME ROOM, BEAUTIFUL OCEAN VIEW. 24 HR DOORMAN SECURITY.THIS IS A MUST SEE!

20. 2001-02-26
    historical 226-char remark

    Show marketing remark (226 chars)

    LIVE ON THE OCEAN IN PALM BEACH. 2/2,CONDO EXQUISITELY FURNISHED. MOVE RIGHT IN. MINUTES FROM LAKE WORTH & LANTANA BRIDGES. POOL,BEACH,CLUB HOUSE, GAME ROOM, BEAUTIFUL OCEAN VIEW. 24 HR DOORMAN SECURITY.THIS IS A MUST SEE!

21. 2001-02-08
    listed $143,900 226-char remark

    Show marketing remark (226 chars)

    LIVE ON THE OCEAN IN PALM BEACH. 2/2,CONDO EXQUISITELY FURNISHED. MOVE RIGHT IN. MINUTES FROM LAKE WORTH & LANTANA BRIDGES. POOL,BEACH,CLUB HOUSE, GAME ROOM, BEAUTIFUL OCEAN VIEW. 24 HR DOORMAN SECURITY.THIS IS A MUST SEE!

22. 2000-06-05
    soldstatus $135,000
23. 2000-05-02
    historical
24. 2000-01-24
    listed $139,000

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $67,889
• − Mortgage interest: −$27,448
• − Property taxes: −$7,350
• − Insurance: −$2,450
• − Repairs & maintenance: −$5,431
• − Management: −$5,431
• − Depreciation: −$14,255
• Taxable income: $5,525
• Est. tax owed @ 24.0%: −$1,326
• After-tax cash flow: $11,671/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab

The home requires extensive repairs and maintenance, including exterior painting, siding, and landscaping. Interior renovations may also be needed. Significant improvements are required to increase its resale and rental value.

Repairs flagged

• Major exterior paint — No visible paint on the street-level image.
• Major exterior siding — No visible siding on the street-level image.
• Major exterior landscaping — No visible landscaping on the street-level image.
• Major interior paint — No interior photos provided, but listing remarks suggest recent renovations which may not align with the condition of the home. Further investigation is needed.

Value-add opportunities

• Both exterior paint — Fresh paint can significantly improve curb appeal and resale value.
• Both exterior siding — New siding can enhance the home's appearance and increase its value.
• Both exterior landscaping — Well-maintained landscaping can greatly improve the home's curb appeal and rental value.
• Both interior paint — Fresh paint can improve the home's appearance and increase its value, both for resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · No visible paint on the street-level image.	Major	$15,000–50,000
exterior siding · No visible siding on the street-level image.	Major	$15,000–50,000
exterior landscaping · No visible landscaping on the street-level image.	Major	$15,000–50,000
interior paint · No interior photos provided, but listing remarks suggest recent renovations which may not align with the condition of the home. Further investigation is needed.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both exterior paint — Fresh paint can significantly improve curb appeal and resale value. ↑
• Both exterior siding — New siding can enhance the home's appearance and increase its value. ↑
• Both exterior landscaping — Well-maintained landscaping can greatly improve the home's curb appeal and rental value. ↑
• Both interior paint — Fresh paint can improve the home's appearance and increase its value, both for resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Palm Beach

• Score: 68/100
• State rank: #530
• US rank: #9896

Category grades

Amenities F Commute F Cost of living F Crime A- Employment A+ Housing C+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 10,924
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 10,924
• Household income: $150,633
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 213.0

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Cuban 1%
• Common ancestry: Scotch-Irish 7% Romanian 5% Italian 3%
• Foreign-born: 20% · Canada, Dominican Republic, China
• Languages at home: 84% English-only · Spanish 7% Other Indo-European 3% Russian/Polish/Slavic 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: ▲ 5.12%
• Current HPI: 464.2769
• Rent YoY: ▲ 3.92%
• 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

+252.5% since first listed

12 events — show timeline

• 2026-05-12 Listed $490,000 FSBO.com
• 2025-08-30 Listing Removed — Beaches MLS
• 2025-02-20 Price Changed $625,000 Beaches MLS
• 2024-12-22 Price Changed $675,000 Beaches MLS
• 2024-09-27 Price Changed $699,000 Beaches MLS
• 2024-06-22 Listed $739,900 Beaches MLS
• 2001-03-09 Sold (MLS) $134,000 Beaches MLS
• 2001-02-26 Listing Removed — Beaches MLS
• 2001-02-08 Listed $143,900 Beaches MLS
• 2000-06-05 Sold (MLS) $135,000 Beaches MLS
• 2000-05-02 Listing Removed — Beaches MLS
• 2000-01-24 Listed $139,000 Beaches MLS