1500 Presidential Way #202 · West Palm Beach, FL 33401

$159,900

2 bd · 2.0 ba · 996 sqft · Condo public records · 239 Days on market

Built 1972 $815/mo HOA · 27% 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 +29.4/30.0
• 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

This bright and airy 2-bedroom condo, located on the second floor, offers convenient access and boasts a prime location directly across from a renowned Jack Nicklaus-designed golf course. Motivated seller, priced for a quick sale! Step outside your door to enjoy the convenience of the Palm Beach Outlets, Whole Foods, I-95, or take a short 10-minute drive to Palm Beach Island, 5 minutes to vibrant downtown West Palm Beach, and Palm Beach Airport. A perfect opportunity for full-time living or a seasonal retreat! This prime location offers unmatched comfort, convenience, and lifestyle. The building passed its 50-year milestone inspection at the end of 2024. Also available for rent $2300

Key facts

• Palm beach airport
• Golf course views
• Prime location

Tags

• GOLF COURSE VIEWS
• PRIME LOCATION
• PALM BEACH AIRPORT

Property features AI

Finance

• Other: Pets allowed with restrictions (breed, number and size limits)
• HOA & community: Monthly association fee; Association amenities include laundry and parking; Association fee covers insurance, ground and structure maintenance, pest control, sewer, trash, water, common areas and elevator

Exterior

• Parking: 2 parking spaces; Guest parking; Open parking
• Security: Closed-circuit cameras; Fire alarm; Owned security system; Entry phone/intercom; Gated community (no guard)
• Utilities: Public water; Public sewer; Three-phase electric; Sewer and water available
• Home design: Condominium; Resale property; 8-story building; Faces north; Accessible elevator installed; Customized wheelchair accessible
• Construction: Concrete / CBS construction; Other roof type
• Exterior features: Sidewalks; Paved road access; Not waterfront

Interior

• Kitchen: Disposal; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central building cooling; Ceiling fans
• Interior features: Walk-in closets; Split bedroom layout; Blinds on windows
• Laundry & utility: Laundry available through association

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $568 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 $45k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 239 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 24 sale attempts since 23y ago; this cycle's ask has dropped $39k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.
• 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 $140,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 239 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
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: 1.91% ✓
• Cap rate: 10.56%
• Cash-on-cash: 15.23%
• DSCR: 1.68
• GRM: 4.4

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: 9.6%
• Equity multiple: 1.39×
• Total profit: $17,536
• Equity at exit: $23,842

10-year hold

• IRR: 21.2%
• Equity multiple: 3.08×
• Total profit: $92,907
• Equity at exit: $13,825

Cash invested: $44,772 (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: 4.4×

Monthly cashflow live

• Estimated rent: $3,061 high
• Mortgage (P&I): −$839
• Tax from tax record: −$130 /mo · $1,559/yr
• Insurance: −$67
• HOA: −$815
• Vacancy / Maint / Mgmt: −$643
• Net cashflow: $568

Break-even live

Break-even rent $2,342

Max offer price $159,900

Occupancy floor 76%

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: $39,975
• Closing costs: $4,797
• 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	0.35mi
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$2,705	$2.53	20d	19	0.81mi
1104 State St Unit C West Palm Beach, FL	3.0	1.0	875	$3,000	$3.43	24d	1	1.25mi
823 14th St West Palm Beach, FL	3.0	1.0	1000	$3,495	$3.50	24d	1	1.42mi
921 8th St West Palm Beach, FL	3.0	1.0	1000	$3,395	$3.40	24d	1	1.42mi

HOA detail condo

• Monthly dues: $815 · $9,780/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $159,900 Active 239 DOM
2. 2026-06-17
   days on market $159,900 Active 238 DOM
3. 2026-06-16
   days on market $159,900 Active 237 DOM
4. 2026-06-15
   days on market $159,900 Active 236 DOM
5. 2026-06-13
   days on market $159,900 Active 234 DOM
6. 2026-06-09
   days on market $159,900 Active 230 DOM
7. 2026-06-07
   pricedays on market $159,900 Active 228 DOM
8. 2026-06-04
   days on market $164,000 Active 225 DOM
9. 2026-06-03
   days on market $164,000 Active 224 DOM
10. 2026-06-01
    days on market $164,000 Active 222 DOM
11. 2026-05-31
    days on market $164,000 Active 221 DOM
12. 2026-05-11
    status Active
13. 2026-05-07
    historical Active Under Contract
14. 2026-04-22
    price $164,000
15. 2026-04-22
    status Active
16. 2026-03-24
    historical
17. 2026-03-14
    price $164,200
18. 2026-01-20
    price $168,900
19. 2025-12-12
    price $176,900
20. 2025-11-11
    price $179,400
21. 2025-10-08
    price $184,900
22. 2025-09-29
    price $189,900
23. 2025-09-24
    listed $199,000 Active
24. 2025-06-19
    historical
25. 2025-03-14
    price $182,900
26. 2025-02-28
    listed $186,900 Active
27. 2025-02-27
    historical
28. 2025-02-07
    price $193,900
29. 2025-02-07
    status Active
30. 2024-10-02
    historical
31. 2024-08-14
    price $197,000
32. 2024-07-31
    price $198,000
33. 2024-06-10
    price $199,000
34. 2024-05-10
    listed $209,000 Active
35. 2024-05-02
    historical
36. 2024-04-23
    price $209,900
37. 2024-04-08
    price $211,900
38. 2024-04-08
    price $212,000
39. 2024-03-22
    price $212,900
40. 2024-02-20
    price $218,000
41. 2024-02-16
    listed $224,900 Active
42. 2024-02-14
    historical
43. 2024-02-05
    listed $229,900 Active
44. 2023-04-12
    soldstatus $180,000
45. 2023-03-30
    soldstatus $180,000 Closed
46. 2023-02-23
    status Pending
47. 2023-02-02
    status Active
48. 2023-01-23
    status Pending
49. 2023-01-03
    listed $189,900 Active
50. 2021-11-01
    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: $1,559 · $130/mo
• Projected year-2 tax: $1,559 · $130/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) · 21% 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: $36,731
• − Mortgage interest: −$8,957
• − Property taxes: −$1,559
• − Insurance: −$800
• − Repairs & maintenance: −$2,938
• − Management: −$2,938
• − HOA: −$9,780
• − Depreciation: −$4,652
• Taxable income: $5,107
• Est. tax owed @ 24.0%: −$1,226
• After-tax cash flow: $5,591/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

+198.2% since first listed

75 events — show timeline

• 2026-05-11 Relisted — Beaches MLS
• 2026-05-07 Contingent — Beaches MLS
• 2026-04-22 Price Changed $164,000 Beaches MLS
• 2026-04-22 Relisted — Beaches MLS
• 2026-03-24 Listing Removed — Beaches MLS
• 2026-03-14 Price Changed $164,200 Beaches MLS
• 2026-01-20 Price Changed $168,900 Beaches MLS
• 2025-12-12 Price Changed $176,900 Beaches MLS
• 2025-11-11 Price Changed $179,400 Beaches MLS
• 2025-10-08 Price Changed $184,900 Beaches MLS
• 2025-09-29 Price Changed $189,900 Beaches MLS
• 2025-09-24 Listed $199,000 Beaches MLS
• 2025-06-19 Listing Removed — Beaches MLS
• 2025-03-14 Price Changed $182,900 Beaches MLS
• 2025-02-28 Listed $186,900 Beaches MLS
• 2025-02-27 Listing Removed — Beaches MLS
• 2025-02-07 Price Changed $193,900 Beaches MLS
• 2025-02-07 Relisted — Beaches MLS
• 2024-10-02 Listing Removed — Beaches MLS
• 2024-08-14 Price Changed $197,000 Beaches MLS
• 2024-07-31 Price Changed $198,000 Beaches MLS
• 2024-06-10 Price Changed $199,000 Beaches MLS
• 2024-05-10 Listed $209,000 Beaches MLS
• 2024-05-02 Listing Removed — MARMLS
• 2024-04-23 Price Changed $209,900 MARMLS
• 2024-04-08 Price Changed $211,900 MARMLS
• 2024-04-08 Price Changed $212,000 MARMLS
• 2024-03-22 Price Changed $212,900 MARMLS
• 2024-02-20 Price Changed $218,000 MARMLS
• 2024-02-16 Listed $224,900 MARMLS
• 2024-02-14 Listing Removed — MARMLS
• 2024-02-05 Listed $229,900 MARMLS
• 2023-04-12 Sold (Public Records) $180,000 Public Records
• 2023-03-30 Sold (MLS) $180,000 MARMLS
• 2023-02-23 Pending — MARMLS
• 2023-02-02 Relisted — MARMLS
• 2023-01-23 Pending — MARMLS
• 2023-01-03 Listed $189,900 MARMLS
• 2021-11-01 Listing Removed — MARMLS
• 2021-10-31 Relisted — MARMLS
• 2021-08-19 Relisted — MARMLS
• 2021-08-05 Pending — MARMLS
• 2021-07-22 Price Changed $118,900 MARMLS
• 2021-07-21 Relisted — MARMLS
• 2021-07-21 Listing Removed — Beaches MLS
• 2021-07-20 Listed $108,900 MARMLS
• 2021-05-14 Contingent — Beaches MLS
• 2020-12-13 Listed $119,000 Beaches MLS
• 2020-07-31 Listing Removed — MARMLS
• 2019-10-22 Price Changed $94,999 MARMLS
• 2019-06-25 Listed $97,999 MARMLS
• 2017-12-30 Listing Removed — MARMLS
• 2017-01-18 Relisted — MARMLS
• 2016-11-29 Pending — MARMLS
• 2016-11-17 Listed $91,900 MARMLS
• 2016-08-16 Listing Removed — MARMLS
• 2016-06-30 Price Changed $91,900 MARMLS
• 2016-05-05 Relisted — MARMLS
• 2016-03-29 Pending — MARMLS
• 2015-11-07 Price Changed $95,900 MARMLS
• 2015-08-15 Listed $99,900 MARMLS
• 2013-02-18 Listing Removed — Beaches MLS
• 2012-10-09 Listing Removed — Beaches MLS
• 2012-10-08 Listed $69,500 Beaches MLS
• 2012-06-19 Listed $69,500 Beaches MLS
• 2012-02-05 Listing Removed — Beaches MLS
• 2011-11-05 Listed $79,900 Beaches MLS
• 2009-01-14 Sold (Public Records) $95,000 Public Records
• 2008-12-22 Sold (MLS) $90,000 MARMLS
• 2003-05-02 Sold (Public Records) $78,500 Public Records
• 2003-05-01 Sold (MLS) $78,500 Beaches MLS
• 2003-02-18 Listing Removed — Beaches MLS
• 2003-01-29 Listed $81,500 Beaches MLS
• 1998-01-16 Sold (Public Records) $45,000 Public Records
• 1991-06-21 Sold (Public Records) $55,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,559 · +3.9% YoY. Source: county tax records.