319 3rd Way · West Palm Beach, FL 33407

$250,000

2 bd · 2.5 ba · 1,236 sqft · Townhouse public records · 4 Days on market

Built 1983 1,346 sqft lot Est $230k · 9% over $634/mo HOA · 22% of rent

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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 +17.2/30.0
• 1% rule +6.8/10.0
• DSCR +5.4/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• ARV discount +3.6/15.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great location! Priced to sell! 2Br 2.5Ba townhouse. Centrally located in West palm beach close to the airport, highways, dining, entertainment, outlets, and much more! Enjoy all the resort styled amenities that come included! Washer and dryer are in the unit. Spacious private enclosed patio to enjoy entertainment with family and friends. Master bedroom with end suite bathroom. Second bedroom has an outside private patio for coffee/relaxation and more!

Key facts

• $634 HOA
• 2 parking spots
• Community pool

Tags

• RESORT STYLED AMENITIES
• PRIVATE ENCLOSED PATIO
• OUTSIDE PRIVATE PATIO

Property features AI

Finance

• Other: Pets allowed (may have restrictions)
• HOA & community: Part of an association (The General Ledger); Monthly HOA fee of $634; Association amenities include clubhouse, picnic area, pool, tennis courts, and maintenance; HOA covers cable TV, internet, insurance, grounds maintenance, water, common areas, security, and roof repairs

Exterior

• Parking: Assigned parking (2 spaces)
• Security: Association-provided security
• Utilities: Public water; Public sewer; Three-phase electric service; Cable available; Water and sewer available
• Home design: Townhouse; Two levels; Resale property; Faces west
• Construction: Built with CBS construction materials; Composition/Shingle roof; 2-story building
• Exterior features: Fenced lot; Not waterfront

Interior

• Kitchen: Dishwasher, Electric range, Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms and 1 half bathroom (3 total), 2 bathrooms on the main level
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Dishwasher, Electric range, Refrigerator; Unfurnished; Windows with other/unspecified features
• Laundry & utility: Laundry inside the unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $250k.

Deal economics

• At list price, monthly cash flow is $180 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 7.2% 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: Egret Lake Elementary School (math 32% / reading 37%, grade F, #1,709 of 2,144 statewide, top 81%, 569 students, 80% 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 75% FRL vs 52% district-wide (23 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 (+3.1%/yr); 305 active listings in the ZIP; 10 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).
• At $2,943/mo this rent would consume 59% of the median local household income ($60k/yr) (locally 2157% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 $51k; list at $250k implies a 390% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% 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 $250,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.18% ✓
• Cap rate: 7.16%
• Cash-on-cash: 3.09%
• DSCR: 1.14
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $229,896
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6606 66th Way	0.36mi	2/2.5	1,236 (0%)	9mo	$230,000	$186	76

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.08% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.59×
• Total profit: $-28,493
• Equity at exit: $37,276

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-7,833
• Equity at exit: $21,615

Cash invested: $70,000 (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 33407

• Rents YoY: 3.1%
• Active inventory: 305
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,943 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$95 /mo · $1,142/yr
• Insurance: −$104
• HOA: −$634
• Vacancy / Maint / Mgmt: −$618
• Net cashflow: $180

Break-even live

Break-even rent $2,714

Max offer price $250,000

Occupancy floor 89%

Sensitivity live

Price	-10% $322	-5% $251	+0% $180	+5% $109	+10% $39
Rent	-10% $-52	-5% $64	+0% $180	+5% $296	+10% $413
Rate	-1.0pp $306	-0.5pp $244	base $180	+0.5pp $115	+1.0pp $50

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3590 Village Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1074	$2,785	$2.59	0d	30	0.19mi
195 River Grove Way West Palm Beach, FL	3.0	1.0–2.0	958	$3,192	$3.33	0d	18	0.36mi
5649 Mentmore Dr Riviera Beach, FL	3.0	2.5	1450	$2,900	$2.00	25d	1	0.88mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$2,528	$2.07	18d	60	1.07mi
2400 Presidential Way #1906 West Palm Beach, FL	1.0	2.0	1294	$3,000	$2.32	25d	1	1.25mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	25d	1	1.29mi
1991 Presidential Way West Palm Beach, FL	1.0	1.0	827	$3,427	$4.14	8d	1	1.35mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	16d	1	1.35mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	25d	1	1.38mi
4385 Willow Brook Cir West Palm Beach, FL	3.0	2.0	1468	$3,200	$2.18	22d	1	1.46mi

HOA detail

• Monthly dues: $634 · $7,608/yr

Listing history 5 events

1. 2026-06-18
   days on market $250,000 Active 4 DOM
2. 2026-06-17
   days on market $250,000 Active 3 DOM
3. 2026-06-16
   days on market $250,000 Active 2 DOM
4. 2026-06-15
   remarks 456-char remark
5. 2026-06-15
   listed $250,000 Active 1 DOM

ⓘ 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: $1,142 · $95/mo
• Projected year-2 tax: $2,075 · $173/mo
• Expected delta: +$933/yr (+$78/mo · 81.7%)

ⓘ 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 ≥105°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,311
• − Mortgage interest: −$14,004
• − Property taxes: −$1,142
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,825
• − Management: −$2,825
• − HOA: −$7,608
• − Depreciation: −$7,273
• Taxable loss: −$1,616
• Est. tax savings @ 24.0%: +$388
• After-tax cash flow: $2,551/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): 34,851
• Household income: $59,993
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 2157.0

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 0.62)
• Race & ethnicity: Black 54% White 21% Hispanic / Latino 20% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 2%
• Common ancestry: Hispanic 8% Lithuanian 1% Romanian 1%
• Foreign-born: 26% · Canada, Vietnam, Jamaica
• Languages at home: 72% English-only · Spanish 17% French/Haitian/Cajun 8% Other Indo-European 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: ▼ -299.26%
• Current HPI: 363.3995
• Rent YoY: ▲ 3.08%
• 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

+390.2% since first listed

5 events — show timeline

• 2026-06-14 Listed $250,000 Beaches MLS
• 2025-12-17 Listing Removed — Beaches MLS
• 2025-02-19 Price Changed $259,000 Beaches MLS
• 2024-12-17 Listed $269,999 Beaches MLS
• 1992-01-28 Sold (Public Records) $51,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,142 · +3.7% YoY. Source: county tax records.