1551 N Flagler Dr #1410 · West Palm Beach, FL 33401

$280,000

1 bd · 1.0 ba · 760 sqft · Condo public records · 345 Days on market

Built 2005 $835/mo HOA · 24% of rent ↓ 15% since listing

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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 +9.8/30.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.8/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SHORT SALE OPPORTUNITY. GORGEOUS SUNSET VIEWS FROM THIS 1 BED 1 BATH UNIT.

Key facts

• Fitness center
• Sunset views
• Open concept layout

Tags

• SUNSET VIEWS
• PRIVATE COVERED BALCONY
• TILE AND HARDWOOD FLOORING
• OPEN CONCEPT LAYOUT
• TWO POOLS
• FITNESS CENTER

Property features AI

Finance

• Financial info: Pets allowed (with number and size limits)
• HOA & community: Monthly association with amenities including pool, fitness center, sauna, spa/hot tub, billiard room, community room, business center, library, bike storage, dog park, elevator(s), parking, management, on-site manager, trash chute, internet included; Association fee paid monthly; Association fee covers insurance, grounds and structure maintenance, pest control, security, sewer, trash, water, common areas, elevator, and hot water

Exterior

• Parking: Attached garage (1 covered space, 1 garage space total); Under-building parking
• Security: Closed-circuit cameras; Key card entry; Smoke detectors; Security system; Security patrol
• Utilities: Public water; Public sewer; Three-phase electric; Sewer and water available
• Home design: Condominium; 16-story building; Faces north; Resale property
• Construction: CBS construction
• Exterior features: Intracoastal waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central individual heating; Central individual cooling
• Interior features: Walk-in closet; Unfurnished unit
• Laundry & utility: Laundry closet inside the unit

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $280k.

Deal economics

• At list price, monthly cash flow is $-245 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $237k (15.5% below list).
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $237k (15.5% below list) — sets the bar for cash-flow.
• Cap rate 5.5% 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: Pleasant City Elementary School (math 27% / reading 27%, grade F, #1,969 of 2,144 statewide, top 94%, 330 students, 94% FRL); Roosevelt Middle School (math 31% / reading 39%, grade F, #416 of 571 statewide, top 74%, 851 students, 80% 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 81% FRL vs 52% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 rising fast (+5.2%/yr); 507 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $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

• It's been on market 345 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 21y 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 $125k; list at $280k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 24% of rent.
• Climate carrying-cost: severe flood risk; 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 $236,678 (15.5% 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 345 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.23% ✓
• Cap rate: 5.53%
• Cash-on-cash: -2.74%
• DSCR: 0.88
• GRM: 6.8

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: -18.6%
• Equity multiple: 0.33×
• Total profit: $-52,731
• Equity at exit: $41,749

10-year hold

• IRR: -5.2%
• Equity multiple: 0.61×
• Total profit: $-30,760
• Equity at exit: $24,209

Cash invested: $78,400 (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: 507
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $3,431 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$469 /mo · $5,632/yr
• Insurance: −$117
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$835
• Vacancy / Maint / Mgmt: −$721
• Net cashflow: $-245

Break-even live

Break-even rent $3,742

Max offer price $236,678

Occupancy floor —

Sensitivity live

Price	-10% $-87	-5% $-166	+0% $-245	+5% $-324	+10% $-404
Rent	-10% $-516	-5% $-381	+0% $-245	+5% $-110	+10% $26
Rate	-1.0pp $-104	-0.5pp $-174	base $-245	+0.5pp $-318	+1.0pp $-392

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1801 N Flagler Dr West Palm Beach, FL	1.0–2.0	1.0–2.0	1125	$3,000	$2.67	4d	7	0.15mi
1801 N Flagler Dr West Palm Beach, FL	1.0–2.0	1.0–2.0	998	$3,250	$3.26	26d	3	0.15mi
1801 N Flagler Dr West Palm Beach, FL	1.0–2.0	1.0–2.0	998	$3,000	$3.01	20d	4	0.15mi
1803 N Flagler Dr #310 West Palm Beach, FL	2.0	1.0	995	$3,000	$3.02	20d	1	0.18mi
917 N Flagler Dr #311 West Palm Beach, FL	2.0	2.0	968	$3,000	$3.10	26d	1	0.41mi
740 N Dixie Hwy West Palm Beach, FL	1.0	1.0	679	$3,187	$4.69	1d	6	0.53mi
805 N Olive Ave West Palm Beach, FL	1.0–2.0	1.0–2.0	852	$2,405	$2.82	0d	16	0.56mi
250 Bradley Pl Palm Beach, FL	1.0–3.0	1.0–2.5	1265	$8,600	$6.80	20d	3	0.63mi
2585 Spruce Ave West Palm Beach, FL	1.0–2.0	1.0–2.0	841	$1,970	$2.34	1d	116	0.66mi
223 Atlantic Ave Unit 4e Palm Beach, FL	2.0	2.0	804	$6,900	$8.58	26d	1	0.77mi
251 Oleander Ave #1 Palm Beach, FL	1.0	1.5	664	$4,250	$6.40	26d	1	0.79mi
251 Oleander Ave #1 Palm Beach, FL	1.0	1.5	664	$4,250	$6.40	5d	1	0.79mi
253 Park Ave Unit 2 Palm Beach, FL	2.0	1.0	1058	$6,900	$6.52	26d	1	0.81mi
290 N Olive Ave West Palm Beach, FL	2.0	1.0–2.0	870	$3,827	$4.40	0d	20	0.84mi
345 Banyan Blvd West Palm Beach, FL	3.0	1.0–2.0	1023	$4,017	$3.92	3d	19	0.85mi
235 Sunrise Ave Palm Beach, FL	2.0	1.0–2.0	835	$5,750	$6.88	9d	5	0.85mi
235 Sunrise Ave Palm Beach, FL	2.0	1.0–2.0	835	$5,750	$6.88	24d	4	0.85mi
235 Sunrise Ave Palm Beach, FL	1.0–2.0	1.0–2.0	980	$3,790	$3.87	26d	3	0.85mi
609 2nd St West Palm Beach, FL	2.0	2.0	978	$3,325	$3.40	5d	1	0.88mi
609 2nd St West Palm Beach, FL	2.0	2.0	978	$3,015	$3.08	20d	1	0.88mi
609 2nd St West Palm Beach, FL	2.0	2.0	1063	$3,240	$3.05	26d	1	0.88mi
101 N Clematis St West Palm Beach, FL	1.0–4.0	1.5–4.5	1906	$4,900	$2.57	26d	2	0.89mi
44 Cocoanut Row Unit 610A Palm Beach, FL	1.0	1.0	540	$11,000	$20.37	26d	1	0.94mi
139 Sunrise Ave Palm Beach, FL	2.0	2.0	945	$11,500	$12.17	26d	2	1.03mi
130 Sunrise Ave #616 Palm Beach, FL	1.0	1.5	1097	$20,000	$18.23	26d	1	1.04mi
255 Evernia St #1421 West Palm Beach, FL	1.0	1.0	666	$3,000	$4.50	12d	1	1.06mi
170 N Ocean Blvd Palm Beach, FL	1.0–2.0	1.5–2.0	1131	$6,000	$5.30	3d	3	1.06mi
170 N Ocean Blvd Palm Beach, FL	1.0–2.0	1.5–2.0	1131	$7,000	$6.19	4d	3	1.06mi
255 Evernia St West Palm Beach, FL	1.0–2.0	1.0–2.0	961	$3,500	$3.64	26d	2	1.06mi
499 Evernia St West Palm Beach, FL	2.0	1.0–2.0	827	$3,192	$3.86	1d	26	1.08mi
415 32nd St Unit 1 West Palm Beach, FL	1.0	1.0	700	$3,600	$5.14	26d	1	1.09mi
591 Evernia St West Palm Beach, FL	2.0	1.0–2.0	943	$4,270	$4.53	1d	22	1.11mi
333 Fern St West Palm Beach, FL	2.0	1.0–2.0	1121	$3,932	$3.51	0d	1	1.13mi
1710 N Congress Ave West Palm Beach, FL	1.0–3.0	1.0–2.0	1210	$2,495	$2.06	26d	4	1.14mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	727	$3,414	$4.70	26d	19	1.30mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	731	$4,365	$5.97	12d	16	1.30mi
600 S Dixie Hwy West Palm Beach, FL	1.0–2.0	1.0–2.0	1020	$3,100	$3.04	4d	5	1.31mi
600 S Dixie Hwy West Palm Beach, FL	1.0–2.0	1.0–2.0	1020	$3,000	$2.94	5d	6	1.31mi
300 S Australian Ave #328 West Palm Beach, FL	1.0	1.0	846	$4,050	$4.79	22d	1	1.32mi
300 S Australian Ave #1608 West Palm Beach, FL	2.0	2.0	1085	$6,000	$5.53	26d	1	1.32mi

HOA detail condo

• Monthly dues: $835 · $10,020/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 36 events

1. 2026-06-21
   days on market $280,000 Active 345 DOM
2. 2026-06-18
   days on market $280,000 Active 342 DOM
3. 2026-06-17
   days on market $280,000 Active 341 DOM
4. 2026-06-16
   days on market $280,000 Active 340 DOM
5. 2026-06-15
   days on market $280,000 Active 339 DOM
6. 2026-06-13
   days on market $280,000 Active 337 DOM
7. 2026-06-09
   days on market $280,000 Active 333 DOM
8. 2026-06-07
   days on market $280,000 Active 331 DOM
9. 2026-06-04
   days on market $280,000 Active 328 DOM
10. 2026-06-03
    days on market $280,000 Active 327 DOM
11. 2026-06-01
    days on market $280,000 Active 325 DOM
12. 2026-05-31
    days on market $280,000 Active 324 DOM
13. 2025-07-10
    listed $280,000 Active
14. 2025-05-01
    historical
15. 2025-03-25
    historical $2,250
16. 2025-03-06
    price $2,250
17. 2025-02-22
    listed $2,300
18. 2025-02-11
    historical $2,300
19. 2025-02-08
    listed $2,300
20. 2025-01-16
    listed $285,000 Active
21. 2025-01-07
    historical $2,200
22. 2025-01-05
    listed $2,200
23. 2024-12-27
    historical $2,500
24. 2024-10-22
    price $2,500
25. 2024-09-26
    historical $2,600
26. 2024-09-26
    listed $2,600
27. 2024-09-26
    listed $2,600
28. 2013-09-30
    soldstatus $125,000
29. 2013-09-18
    historical 74-char remark

    Show marketing remark (74 chars)

    SHORT SALE OPPORTUNITY. GORGEOUS SUNSET VIEWS FROM THIS 1 BED 1 BATH UNIT.

30. 2013-09-16
    soldstatus $125,000 Closed 74-char remark

    Show marketing remark (74 chars)

    SHORT SALE OPPORTUNITY. GORGEOUS SUNSET VIEWS FROM THIS 1 BED 1 BATH UNIT.

31. 2013-08-19
    status Pending 74-char remark

    Show marketing remark (74 chars)

    SHORT SALE OPPORTUNITY. GORGEOUS SUNSET VIEWS FROM THIS 1 BED 1 BATH UNIT.

32. 2013-07-17
    historical Contingent 74-char remark

    Show marketing remark (74 chars)

    SHORT SALE OPPORTUNITY. GORGEOUS SUNSET VIEWS FROM THIS 1 BED 1 BATH UNIT.

33. 2013-07-12
    listed $135,000 Active 74-char remark

    Show marketing remark (74 chars)

    SHORT SALE OPPORTUNITY. GORGEOUS SUNSET VIEWS FROM THIS 1 BED 1 BATH UNIT.

34. 2005-10-18
    soldstatus $325,000
35. 2005-10-13
    soldstatus $325,000
36. 2005-07-28
    listed $329,000

ⓘ 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: $5,632 · $469/mo
• Projected year-2 tax: $5,632 · $469/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 9/10 Extreme FEMA zone X (shaded) · 99% 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: $41,174
• − Mortgage interest: −$15,684
• − Property taxes: −$5,632
• − Insurance: −$2,198
• − Repairs & maintenance: −$3,294
• − Management: −$3,294
• − HOA: −$10,020
• − Depreciation: −$8,145
• Taxable loss: −$7,094
• Est. tax savings @ 24.0%: +$1,702
• After-tax cash flow: $-1,240/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

-14.9% since first listed

24 events — show timeline

• 2025-07-10 Listed $280,000 Beaches MLS
• 2025-05-01 Listing Removed — Beaches MLS
• 2025-03-25 Rental Removed $2,250 RMLSFL
• 2025-03-06 Price Changed $2,250 RMLSFL
• 2025-02-22 Listed for Rent $2,300 RMLSFL
• 2025-02-11 Rental Removed $2,300 RMLSFL
• 2025-02-08 Listed for Rent $2,300 RMLSFL
• 2025-01-16 Listed $285,000 Beaches MLS
• 2025-01-07 Rental Removed $2,200 GFLMLS
• 2025-01-05 Listed for Rent $2,200 GFLMLS
• 2024-12-27 Rental Removed $2,500 GFLMLS
• 2024-10-22 Price Changed $2,500 GFLMLS
• 2024-09-26 Rental Removed $2,600 RMLSFL
• 2024-09-26 Listed for Rent $2,600 GFLMLS
• 2024-09-26 Listed for Rent $2,600 RMLSFL
• 2013-09-30 Sold (Public Records) $125,000 Public Records
• 2013-09-18 Listing Removed — Beaches MLS
• 2013-09-16 Sold (MLS) $125,000 Beaches MLS
• 2013-08-19 Pending — Beaches MLS
• 2013-07-17 Contingent — Beaches MLS
• 2013-07-12 Listed $135,000 Beaches MLS
• 2005-10-18 Sold (Public Records) $325,000 Public Records
• 2005-10-13 Sold (MLS) $325,000 Beaches MLS
• 2005-07-28 Listed $329,000 Beaches MLS

Property tax history

+13.2%/yr

Latest (2025): $5,632 · +0.1% YoY. Source: county tax records.