148 Yacht Club Dr #13 · North Palm Beach, FL 33408

$215,000

2 bd · 1.5 ba · 930 sqft · Condo public records · 73 Days on market

Built 1964 $1097/mo HOA · 32% 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 +17.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This well-maintained 2-bedroom, 1.5 bathroom condo offers spacious living in a prime location. Newly renovated and ready for a new owner. Located just minutes from the Intracoastal Waterway, North Palm Beach Country Club, and beautiful beaches, this condo is perfect for both full-time living and seasonal getaways. Great for owners or investors. NO RENTAL RESTRICTIONS. Schedule your showing today!

Key facts

• Beautiful beaches
• Prime location
• Newly renovated

Tags

• PRIME LOCATION
• NEWLY RENOVATED
• INTRACOASTAL WATERWAY
• NORTH PALM BEACH COUNTRY CLUB
• BEAUTIFUL BEACHES

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Association: Corinthian Condominium Association; Monthly HOA dues; Association amenities include laundry, parking, and pool; HOA fee includes cable TV, insurance, grounds maintenance, trash, common areas, and common real estate tax

Exterior

• Parking: 1 parking space; Guest parking
• Utilities: Public water; Public sewer; Three phase electric; Cable available; Sewer available; Water available
• Home design: Condominium; Single-story; Faces west; Resale
• Construction: Block and concrete construction; Other roof
• Exterior features: No waterfront; Entry level living area

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Other
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central electric heating; Central electric cooling (Central Air)
• Interior features: Unfurnished; Dishwasher; Electric range; Microwave; Refrigerator
• Laundry & utility: Laundry available via association

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $164 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $202k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#184 in FL, #2,894 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living D-.
• 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: Teen Parent Program - Pk (19 students, 0% FRL); Howell L. Watkins Middle School (math 18% / reading 33%, grade F, #512 of 571 statewide, top 90%, 794 students, 76% FRL); Palm Beach Gardens High School (math 19% / reading 40%, grade F, #447 of 667 statewide, top 68%, 2,570 students, 61% FRL).
• Zoned-school proficiency averages 28% 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 flat; 404 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 44% of the median local income ($92k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 73 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 24y 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 $150k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $202,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — 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. 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: 1.59% ✓
• Cap rate: 7.21%
• Cash-on-cash: 3.26%
• DSCR: 1.15
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.27% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.45×
• Total profit: $-32,849
• Equity at exit: $32,057

10-year hold

• IRR: -18.5%
• Equity multiple: 0.21×
• Total profit: $-47,800
• Equity at exit: $18,589

Cash invested: $60,200 (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 33408

• Rents YoY: 0.3%
• Active inventory: 404
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $3,410 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$216 /mo · $2,592/yr
• Insurance: −$90
• HOA: −$1,097
• Vacancy / Maint / Mgmt: −$716
• Net cashflow: $164

Break-even live

Break-even rent $3,203

Max offer price $215,000

Occupancy floor 90%

Sensitivity live

Price	-10% $285	-5% $224	+0% $164	+5% $103	+10% $42
Rent	-10% $-106	-5% $29	+0% $164	+5% $298	+10% $433
Rate	-1.0pp $272	-0.5pp $218	base $164	+0.5pp $108	+1.0pp $51

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Yacht Club Dr #405 North Palm Beach, FL	2.0	2.0	1010	$3,000	$2.97	25d	1	0.25mi
700 Sanctuary Cove Dr West Palm Beach, FL	1.0–3.0	1.0–2.0	1120	$2,584	$2.31	0d	55	0.90mi
526 Eastwind Dr Unit 526 North Palm Beach, FL	2.0	1.0	840	$3,995	$4.76	25d	1	0.98mi
524 Eastwind Dr Unit 524 North Palm Beach, FL	2.0	1.0	774	$3,995	$5.16	25d	1	0.98mi
522 Eastwind Dr North Palm Beach, FL	2.0	2.0	948	$3,995	$4.21	25d	1	0.98mi
624 Southwind Cir #2 North Palm Beach, FL	2.0	2.0	718	$3,750	$5.22	25d	1	1.15mi
2100 PGA Blvd Palm Beach Gardens, FL	1.0–2.0	1.0–2.0	983	$3,118	$3.17	0d	9	1.17mi
913 Lighthouse Dr North Palm Beach, FL	3.0	2.5	1092	$5,900	$5.40	25d	1	1.21mi
308 Southwind Ct Unit 8 North Palm Beach, FL	2.0	2.0	1100	$2,900	$2.64	25d	1	1.26mi
2396 Easy St Unit A Palm Beach Gardens, FL	2.0	1.0	948	$3,500	$3.69	25d	1	1.27mi
2545 Conroy Dr West Palm Beach, FL	3.0	2.0	1066	$3,295	$3.09	25d	1	1.34mi

HOA detail condo

• Monthly dues: $1,097 · $13,164/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 41 events

1. 2026-06-21
   days on market $215,000 Active 73 DOM
2. 2026-06-18
   days on market $215,000 Active 70 DOM
3. 2026-06-17
   days on market $215,000 Active 69 DOM
4. 2026-06-16
   days on market $215,000 Active 68 DOM
5. 2026-06-15
   days on market $215,000 Active 67 DOM
6. 2026-06-13
   days on market $215,000 Active 65 DOM
7. 2026-06-09
   days on market $215,000 Active 61 DOM
8. 2026-06-08
   days on market $215,000 Active 60 DOM
9. 2026-06-07
   days on market $215,000 Active 59 DOM
10. 2026-06-04
    days on market $215,000 Active 56 DOM
11. 2026-06-03
    days on market $215,000 Active 55 DOM
12. 2026-06-02
    days on market $215,000 Active 54 DOM
13. 2026-06-01
    days on market $215,000 Active 53 DOM
14. 2026-05-31
    days on market $215,000 Active 52 DOM
15. 2026-04-06
    listed $215,000 Active
16. 2025-12-19
    historical
17. 2025-06-24
    listed $250,000 Active
18. 2025-06-18
    historical
19. 2025-03-18
    listed $220,000 Active
20. 2024-04-05
    soldstatus $150,000
21. 2024-03-29
    soldstatus $150,000 Closed
22. 2024-03-21
    status Pending
23. 2024-03-02
    historical Active Under Contract
24. 2024-02-12
    price $179,000
25. 2023-12-19
    price $198,000
26. 2023-11-30
    listed $205,000 Active
27. 2021-10-27
    historical
28. 2021-10-26
    status Active
29. 2021-09-16
    historical Active Under Contract
30. 2021-09-09
    listed $159,900 Active
31. 2012-06-05
    soldstatus $52,000
32. 2012-03-06
    historical
33. 2011-11-11
    listed $52,000
34. 2005-06-30
    soldstatus $199,000
35. 2005-06-28
    soldstatus $199,000
36. 2005-06-10
    historical
37. 2005-06-02
    listed $199,900
38. 2002-10-03
    soldstatus $60,000
39. 2002-09-26
    soldstatus $60,000
40. 2002-08-08
    historical
41. 2002-08-01
    listed $60,000

ⓘ 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: $2,592 · $216/mo
• Projected year-2 tax: $2,592 · $216/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 6/10 Major FEMA zone X (unshaded) · 54% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 26 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: $40,915
• − Mortgage interest: −$12,043
• − Property taxes: −$2,592
• − Insurance: −$1,075
• − Repairs & maintenance: −$3,273
• − Management: −$3,273
• − HOA: −$13,164
• − Depreciation: −$6,255
• Taxable loss: −$760
• Est. tax savings @ 24.0%: +$182
• After-tax cash flow: $2,145/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 — North Palm Beach

• Score: 77/100
• State rank: #184
• US rank: #2894

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 18,817
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 18,817
• Household income: $92,216
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 835.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 9% Two or more races 7% Black 1% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 4% Slovak 3% Romanian 3%
• Foreign-born: 11% · Canada, Jamaica, Guatemala
• Languages at home: 89% English-only · Spanish 7% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -223.14%
• Current HPI: 365.2913
• Rent YoY: ▲ 0.27%
• 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

+258.3% since first listed

27 events — show timeline

• 2026-04-06 Listed $215,000 Beaches MLS
• 2025-12-19 Listing Removed — Beaches MLS
• 2025-06-24 Listed $250,000 Beaches MLS
• 2025-06-18 Listing Removed — Beaches MLS
• 2025-03-18 Listed $220,000 Beaches MLS
• 2024-04-05 Sold (Public Records) $150,000 Public Records
• 2024-03-29 Sold (MLS) $150,000 Beaches MLS
• 2024-03-21 Pending — Beaches MLS
• 2024-03-02 Contingent — Beaches MLS
• 2024-02-12 Price Changed $179,000 Beaches MLS
• 2023-12-19 Price Changed $198,000 Beaches MLS
• 2023-11-30 Listed $205,000 Beaches MLS
• 2021-10-27 Listing Removed — Beaches MLS
• 2021-10-26 Relisted — Beaches MLS
• 2021-09-16 Contingent — Beaches MLS
• 2021-09-09 Listed $159,900 Beaches MLS
• 2012-06-05 Sold (MLS) $52,000 Beaches MLS
• 2012-03-06 Listing Removed — Beaches MLS
• 2011-11-11 Listed $52,000 Beaches MLS
• 2005-06-30 Sold (Public Records) $199,000 Public Records
• 2005-06-28 Sold (MLS) $199,000 Beaches MLS
• 2005-06-10 Listing Removed — Beaches MLS
• 2005-06-02 Listed $199,900 Beaches MLS
• 2002-10-03 Sold (Public Records) $60,000 Public Records
• 2002-09-26 Sold (MLS) $60,000 Beaches MLS
• 2002-08-08 Listing Removed — Beaches MLS
• 2002-08-01 Listed $60,000 Beaches MLS

Property tax history

+9.3%/yr

Latest (2025): $2,592 · -9.5% YoY. Source: county tax records.