5701 57th Way · West Palm Beach, FL 33409

$269,900

2 bd · 2.5 ba · 1,236 sqft · Townhouse public records · 10 Days on market

Built 1985 1,346 sqft lot Est $230k · 17% over $500/mo HOA · 17% of rent

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Why this score? — see what drove the F 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 +11.2/30.0
• 1% rule +5.9/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• DSCR +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

BUYER DROPPED OUT***BANK APPROVED SHORT SALE AT $100,000 PLUS BUYER TO PAY APROX. $6000 PAST DUE HOA FEES*** CHECK OUT THIS NICELY RENOVATED 2/2.5 SANDALWOOD LAKES TOWN HOME. 1ST FLOOR WITH 18'' TILE ON THE DIAGONAL, CROWN MOLDING AND SPACIOUS LIVING ROOM W/LARGE SLIDER. UPDATED KITCHEN WITH CHERRY CABINETS, GRANITE COUNTERS, UNDERMOUNT SINK, STAINLESS STEEL APPLIANCES AND PANTRY. DOWNSTAIRS HALF BATH WITH WASHER/DRYER PLUS NEWER CABINETRY AND VANITY. UPSTAIRS HAS TWO BEDROOMS WITH BALCONIES, EN SUITE BATHROOMS AND LOTS OF CLOSET SPACE. CARPET COULD USE REPLACING. BOTH BATHROOMS HAVE BEEN UPDATED. MASTER HAS DUAL VESSEL SINKS, NEWER CABINETRY AND A NEWER TILE SHOWER. OTHER FEATURES INCLUDE LOW MAINTENANCE FEES, A COMMUNITY POOL AND A CENTRAL LOCATION.

Key facts

• $500 HOA
• 2 parking spots
• Community pool

Property features AI

Finance

• Other: No land lease
• Financial info: Pets allowed (with number and size limits)
• HOA & community: Part of an association (Village of Sandalwood South); Monthly HOA fee; HOA covers insurance, grounds maintenance, water, common areas, roof repairs; Community amenities include pool, tennis courts, pickleball courts, playground, park, jogging path, picnic area, community room, handball courts, sidewalks, and street lights

Exterior

• Parking: Assigned parking plus guest parking (2 total spaces); No carport
• Security: Smoke detectors; Window bars
• Utilities: Public water; Public sewer; Electricity available; Cable available
• Home design: Townhouse; Two levels; Entry on first level; Faces south
• Construction: Brick, stucco, CBS construction; Mansard roof; One-story building (listed stories total = 1); Built/resale condition
• Exterior features: Open patio / patio; Back yard fenced with gate (wood); Courtyard entry; Sidewalks; Paved public road access; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Ceramic tile; Tile
• Bathrooms: 2 full bathrooms, 1 half bathroom; 1 bathroom on the main level
• Heating & cooling: Central electric heating; Central air conditioning (electric)
• Interior features: Walk-in closets; Sliding windows
• Laundry & utility: Laundry room with washer/dryer area; Laundry located inside and/or in bathroom

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $270k.

Deal economics

• At list price, monthly cash flow is $-104 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $252k (6.8% below list).
• Meets the 1% rule at list price ($3k rent vs $270k).
• Recommended offer: $252k (6.8% below list) — sets the bar for cash-flow.
• Cap rate 5.8% 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: Seminole Trails Elementary School (math 26% / reading 36%, grade F, #1,854 of 2,144 statewide, top 87%, 650 students, 73% 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 72% FRL vs 52% district-wide (20 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 soft (-0.1%/yr); 194 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $2,954/mo this rent would consume 53% of the median local household income ($67k/yr) (locally 1333% 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y 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 $95k; list at $270k implies a 184% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $251,555 (6.8% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.09% ✓
• Cap rate: 5.83%
• Cash-on-cash: -1.65%
• DSCR: 0.93
• GRM: 7.6

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	0.24mi	2/2.5	1,236 (0%)	9mo	$230,000	$186	82

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -23.4%
• Equity multiple: 0.22×
• Total profit: $-58,609
• Equity at exit: $40,243

10-year hold

• IRR: -35.0%
• Equity multiple: -0.21×
• Total profit: $-91,396
• Equity at exit: $23,336

Cash invested: $75,572 (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 33409

• Home prices YoY: -25.6%
• Rents YoY: -0.1%
• Active inventory: 194
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,954 high
• Mortgage (P&I): −$1,415
• Tax from tax record: −$409 /mo · $4,913/yr
• Insurance: −$112
• HOA: −$500
• Vacancy / Maint / Mgmt: −$620
• Net cashflow: $-104

Break-even live

Break-even rent $3,085

Max offer price $251,555

Occupancy floor 99%

Sensitivity live

Price	-10% $49	-5% $-27	+0% $-104	+5% $-180	+10% $-257
Rent	-10% $-337	-5% $-221	+0% $-104	+5% $13	+10% $129
Rate	-1.0pp $32	-0.5pp $-35	base $-104	+0.5pp $-174	+1.0pp $-245

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 13 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	1d	30	0.49mi
2439 24th Way #2439 West Palm Beach, FL	2.0	2.5	1236	$3,000	$2.43	0d	1	0.60mi
195 River Grove Way West Palm Beach, FL	3.0	1.0–2.0	958	$3,194	$3.33	0d	20	0.65mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$2,528	$2.07	19d	60	0.82mi
2400 Presidential Way #1906 West Palm Beach, FL	1.0	2.0	1294	$3,000	$2.32	26d	1	1.07mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	26d	1	1.08mi
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	26d	1	1.10mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	18d	1	1.17mi
1991 Presidential Way West Palm Beach, FL	1.0	1.0	827	$3,427	$4.14	9d	1	1.17mi
5649 Mentmore Dr Riviera Beach, FL	3.0	2.5	1450	$2,900	$2.00	26d	1	1.18mi
4385 Willow Brook Cir West Palm Beach, FL	3.0	2.0	1468	$3,200	$2.18	24d	1	1.22mi
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	26d	1	1.37mi
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	26d	1	1.38mi

HOA detail

• Monthly dues: $500 · $6,000/yr
• Likely covers: pool

Listing history 7 events

1. 2026-06-21
   days on market $269,900 Active 10 DOM
2. 2026-06-18
   days on market $269,900 Active 7 DOM
3. 2026-06-17
   days on market $269,900 Active 6 DOM
4. 2026-06-16
   days on market $269,900 Active 5 DOM
5. 2026-06-15
   days on market $269,900 Active 4 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $269,900 Active 2 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: $4,913 · $409/mo
• Projected year-2 tax: $4,913 · $409/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 5 d/yr ≥105°F today · 18 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: $35,444
• − Mortgage interest: −$15,119
• − Property taxes: −$4,913
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,836
• − Management: −$2,836
• − HOA: −$6,000
• − Depreciation: −$7,852
• Taxable loss: −$5,460
• Est. tax savings @ 24.0%: +$1,310
• After-tax cash flow: $64/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): 33,489
• Household income: $67,073
• Rent vs Own: 55.3% rent · 44.7% own
• Severe rent burden: 1333.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 36% Black 31% White 27% Two or more races 21% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 8% Dominican 1%
• Common ancestry: Hispanic 8% Romanian 1% Lithuanian 1%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 55% English-only · Spanish 30% French/Haitian/Cajun 10% Other Indo-European 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: ▼ -128.54%
• Current HPI: 374.2506
• Rent YoY: ▼ -0.15%
• 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

+373.5% since first listed

11 events — show timeline

• 2026-06-10 Listed $269,900 Beaches MLS
• 2014-02-25 Sold (Public Records) $95,000 Public Records
• 2014-02-21 Sold (MLS) $95,000 Beaches MLS
• 2014-01-29 Pending — Beaches MLS
• 2013-12-11 Contingent — Beaches MLS
• 2013-11-15 Relisted — Beaches MLS
• 2013-11-15 Price Changed $100,000 Beaches MLS
• 2013-08-08 Contingent — Beaches MLS
• 2013-08-08 Price Changed $97,500 Beaches MLS
• 2013-07-29 Listed $104,900 Beaches MLS
• 1996-04-30 Sold (Public Records) $57,000 Public Records

Property tax history

+13.0%/yr

Latest (2025): $4,913 · +4.2% YoY. Source: county tax records.