3475 S Ocean Blvd #116 · Palm Beach, FL 33480

$449,000

2 bd · 2.0 ba · 1,395 sqft · Condo · 53 Days on market

Built 1967 Good condition $1533/mo HOA · 27% 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 +11.3/30.0
• 1% rule +7.6/10.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Condition / age +4.0/5.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• DSCR +3.3/10.0

Listing remarks

MOTIVATED SELLER. Spacious and bright corner unit. First floor elevated to a second floor. Updated kitchen with newer SS appliances, white wood cabinets and granite countertops. Laundry room with washer and dryer inside. Two balconies with impact glass french doors. Open layout in living and dining room. Two garage spaces and storage room. La Bonne Vie offers doorman, library room, game room with billiards and table tennis, fitness room, sauna, an open heated pool in front of the ocean, a solarium, a BBQ area, and access to the ocean. Situated mere minutes from Palm Beach Airport, Worth Ave. , the Norton Museum, exceptional dining, shopping areas, and water sports, tennis, and golf courts.

Key facts

• Two balconies
• Laundry room
• Updated kitchen

Tags

• UPDATED KITCHEN
• LAUNDRY ROOM
• TWO BALCONIES
• DOORMAN
• LIBRARY ROOM
• GAME ROOM

Property features AI

Finance

• Financial info: Pets allowed with possible restrictions and limits; Community of 110 units
• HOA & community: Condo association (La Bonne Vie Condo Association); Monthly association fee; Association amenities include beach access, heated pool, pool, sauna, fitness center, billiard/game rooms, library, lobby, elevators, bike storage, storage, trash chute, parking, security, recreation facilities

Exterior

• Parking: 4 total parking spaces; 2-car attached garage; 2 covered spaces; Under-building parking; 2 open parking spaces
• Security: Attended lobby; Security system; Closed-circuit cameras; Smoke detectors
• Utilities: Public water; Public sewer; Cable available; Electricity available; Sewer connected; Underground utilities; Water available
• Home design: Condominium; One level; Entry level living area; Faces west; Building name: La Bonne Vie; 9-story building
• Construction: Stucco and CBS construction; Pre-stressed roof
• Exterior features: Ocean access; Public maintained road

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator; Freezer; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric central heating (individual unit); Central individual electric cooling; Ceiling fans
• Interior features: Walk-in closets; Stacked bedroom layout; Custom mirrors; French doors
• Laundry & utility: In-unit laundry room (inside)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $449k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-167 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $425k (5.4% below list).
• Meets the 1% rule at list price ($6k rent vs $449k).
• Recommended offer: $425k (5.4% below list) — sets the bar for cash-flow.

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); Lake Worth High School (math 16% / reading 27%, grade F, #546 of 667 statewide, top 82%, 2,683 students, 71% FRL) — zoned schools average 75% FRL vs 52% district-wide (23 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 rising (+3.9%/yr); 447 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• At $5,657/mo this rent would consume 45% of the median local household income ($151k/yr) (locally 213% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $26k of equity ($3k loan paydown + $23k 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.
• By year 2, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y 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

• Watch-outs: HOA is 27% of rent.
• 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 $424,897 (5.4% 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 53 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
3. Built in 1967 — 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. 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: 1.26% ✓
• Cap rate: 5.85%
• Cash-on-cash: -1.59%
• DSCR: 0.93
• GRM: 6.6

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: 12.5%
• Equity multiple: 1.81×
• Total profit: $102,143
• Equity at exit: $257,582

10-year hold

• IRR: 14.1%
• Equity multiple: 3.62×
• Total profit: $329,359
• Equity at exit: $447,170

Cash invested: $125,720 (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 33480

• Home prices YoY: 1.1%
• Rents YoY: 3.9%
• Active inventory: 447
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $5,657 high
• Mortgage (P&I): −$2,355
• Tax est. 1.5%: −$561 /mo · $6,735/yr
• Insurance: −$187
• HOA: −$1,533
• Vacancy / Maint / Mgmt: −$1,188
• Net cashflow: $-167

Break-even live

Break-even rent $5,868

Max offer price $424,897

Occupancy floor 98%

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: $112,250
• Closing costs: $13,470
• 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	24d	3	0.01mi
3475 S Ocean Blvd #3110 Palm Beach, FL	1.0	1.5	891	$2,600	$2.92	24d	1	0.04mi
3475 S Ocean Blvd #1030 Palm Beach, FL	1.0	2.0	1395	$5,500	$3.94	3d	1	0.04mi
3475 S Ocean Blvd #6110 Palm Beach, FL	1.0	1.5	891	$3,500	$3.93	24d	1	0.04mi
3475 S Ocean Blvd #6150 Palm Beach, FL	2.0	2.0	1395	$8,750	$6.27	24d	1	0.04mi
3475 S Ocean Blvd #3020 Palm Beach, FL	2.0	2.0	1395	$5,000	$3.58	24d	1	0.04mi
3460 S Ocean Blvd #4150 Palm Beach, FL	2.0	2.0	1436	$10,500	$7.31	24d	1	0.06mi
3456 S Ocean Blvd Apt 705 Palm Beach, FL	2.0	2.0	1457	$3,500	$2.40	24d	1	0.07mi
3456 S Ocean Blvd #6050 Palm Beach, FL	2.0	2.0	1482	$4,650	$3.14	24d	1	0.07mi
3456 S Ocean Blvd #105 Palm Beach, FL	2.0	2.0	1482	$12,000	$8.10	24d	1	0.07mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$9,500	$7.69	3d	10	0.11mi
3450 S Ocean Blvd Palm Beach, FL	1.0–2.0	1.0–2.0	1236	$9,500	$7.69	7d	9	0.11mi
3450 S Ocean Blvd #6010 Palm Beach, FL	2.0	2.0	1548	$5,500	$3.55	14d	1	0.11mi
3450 S Ocean Blvd #3280 Palm Beach, FL	1.0	1.0	952	$2,500	$2.63	24d	1	0.11mi
3450 S Ocean Blvd #1050 Palm Beach, FL	1.0	1.0	952	$2,950	$3.10	24d	1	0.11mi
3450 S Ocean Blvd #8120 Palm Beach, FL	1.0	1.5	1008	$3,500	$3.47	24d	1	0.11mi
3450 S Ocean Blvd #4270 Palm Beach, FL	1.0	1.0	924	$3,250	$3.52	24d	1	0.11mi
3520 S Ocean Blvd Unit H404 Palm Beach, FL	2.0	2.0	1176	$5,900	$5.02	24d	1	0.11mi
3540 S Ocean Blvd #612 Palm Beach, FL	2.0	2.0	983	$4,700	$4.78	7d	1	0.15mi
3540 S Ocean Blvd #208 Palm Beach, FL	2.0	2.0	983	$2,750	$2.80	4d	1	0.15mi
3540 S Ocean Blvd #608 Palm Beach, FL	2.0	2.0	983	$2,950	$3.00	24d	1	0.15mi
3540 S Ocean Blvd #216 Palm Beach, FL	2.0	2.0	983	$2,550	$2.59	22d	1	0.15mi
3540 S Ocean Blvd Palm Beach, FL	1.0	2.0	983	$4,000	$4.07	24d	1	0.15mi
3440 S Ocean Blvd Unit 307N Palm Beach, FL	2.0	2.0	1457	$8,500	$5.83	24d	1	0.16mi
3400 S Ocean Blvd Unit 1 C I Palm Beach, FL	2.0	2.0	1740	$12,000	$6.90	24d	1	0.26mi
3560 S Ocean Blvd #706 Palm Beach, FL	2.0	2.0	1340	$12,000	$8.96	20d	1	0.26mi
3560 S Ocean Blvd #907 Palm Beach, FL	2.0	2.0	1340	$7,800	$5.82	11d	1	0.26mi
3560 S Ocean Blvd #306 Palm Beach, FL	2.0	2.0	1380	$7,000	$5.07	18d	1	0.26mi
3560 S Ocean Blvd #907 Palm Beach, FL	2.0	2.0	1340	$7,500	$5.60	11d	1	0.26mi
3560 S Ocean Blvd #4 Palm Beach, FL	2.0	2.0	1340	$7,950	$5.93	24d	1	0.26mi
3560 S Ocean Blvd #502 Palm Beach, FL	2.0	2.0	1340	$9,500	$7.09	24d	1	0.26mi
3580 S Ocean Blvd Unit 6B Palm Beach, FL	1.0	1.5	1013	$2,500	$2.47	15d	1	0.34mi
3581 S Ocean Blvd Unit 2B Palm Beach, FL	1.0	1.5	940	$2,900	$3.09	17d	1	0.35mi
3581 S Ocean Blvd Unit 9A Palm Beach, FL	2.0	2.0	1192	$2,600	$2.18	17d	1	0.35mi
3589 S Ocean Blvd #614 Palm Beach, FL	2.0	2.0	1541	$4,200	$2.73	24d	1	0.39mi
3589 S Ocean Blvd #614 Palm Beach, FL	2.0	2.0	1541	$4,200	$2.73	20d	1	0.39mi
3589 S Ocean Blvd #314 Palm Beach, FL	2.0	2.5	1541	$3,000	$1.95	24d	1	0.39mi
3589 S Ocean Blvd #801 Palm Beach, FL	2.0	2.0	1541	$6,000	$3.89	11d	1	0.39mi
3601 S Ocean Blvd Palm Beach, FL	2.0	2.5	1408	$2,900	$2.06	19d	2	0.42mi
3601 S Ocean Blvd #308 Palm Beach, FL	2.0	2.5	1408	$3,250	$2.31	18d	1	0.43mi

HOA detail condo

• Monthly dues: $1,533 · $18,396/yr
• Likely covers: waterpooldoorman
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $449,000 Active 53 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   days on market $449,000 Active 52 DOM
4. 2026-06-16
   days on market $449,000 Active 51 DOM
5. 2026-06-15
   days on market $449,000 Active 50 DOM
6. 2026-06-13
   days on market $449,000 Active 48 DOM
7. 2026-06-09
   days on market $449,000 Active 44 DOM
8. 2026-06-08
   days on market $449,000 Active 43 DOM
9. 2026-06-07
   days on market $449,000 Active 42 DOM
10. 2026-06-04
    days on market $449,000 Active 39 DOM
11. 2026-06-03
    days on market $449,000 Active 38 DOM
12. 2026-06-02
    days on market $449,000 Active 37 DOM
13. 2026-06-01
    days on market $449,000 Active 36 DOM
14. 2026-05-31
    days on market $449,000 Active 35 DOM
15. 2026-04-27
    price $449,000
16. 2026-04-26
    listed $450,000 Active
17. 2024-02-27
    historical $4,500
18. 2023-11-25
    price $4,500
19. 2023-11-18
    listed $4,990
20. 2013-09-22
    historical
21. 2008-07-08
    historical
22. 2008-01-08
    listed $350,000
23. 2004-08-06
    listed $445,000

ⓘ 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: −$25,151
• − Property taxes: −$6,735
• − Insurance: −$2,245
• − Repairs & maintenance: −$5,431
• − Management: −$5,431
• − HOA: −$18,396
• − Depreciation: −$13,062
• Taxable loss: −$8,562
• Est. tax savings @ 24.0%: +$2,055
• After-tax cash flow: $56/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 · 12 photos

Good 80/100 Cosmetic rehab

This corner unit is in good condition with updated kitchen and neutral paint. It offers two balconies with ocean views and is located in a well-maintained complex with amenities. Regular maintenance and minor exterior updates can further enhance its value.

Value-add opportunities

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value ↑

ⓘ 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

+0.9% since first listed

9 events — show timeline

• 2026-04-27 Price Changed $449,000 Beaches MLS
• 2026-04-26 Listed $450,000 Beaches MLS
• 2024-02-27 Rental Removed $4,500 GFLMLS
• 2023-11-25 Price Changed $4,500 GFLMLS
• 2023-11-18 Listed for Rent $4,990 GFLMLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2008-07-08 Listing Removed — Beaches MLS
• 2008-01-08 Listed $350,000 Beaches MLS
• 2004-08-06 Listed $445,000 Beaches MLS