Score
0West Palm Beach, FL
745 Tallapoosa Street
650K
3 beds
2 baths
1,646 sqft
3 bd • 2 ba • 1,646 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$650,000
Price/Sq.Ft
$395
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 745 Tallapoosa Street, West Palm Beach, FL 33405 offers several attractive features. At $394.90/sqft, it's priced approximately 5% below the average West Palm Beach price of $415/sqft, representing good value. The 3-bedroom, 2-bathroom layout in 1,646 sqft is well-suited for small families or as an investment property. Based on local rental rates, a 3-bedroom home could fetch around $2,513/month, potentially yielding a gross rental yield of 4.6% annually. The property's curb appeal is enhanced by well-maintained landscaping and an inviting entryway, which can positively impact resale value. The exterior paint appears to be in good condition, potentially saving on immediate maintenance costs.
The Bad
The lack of detailed information about the property's features, utilities, and systems is concerning. This absence of data makes it challenging to assess the true condition and potential hidden costs. The unknown year built raises questions about potential outdated systems or materials that may require costly updates. At 1,646 sqft, the home is slightly smaller than the average single-family home in West Palm Beach (typically around 1,800-2,000 sqft), which may impact its competitiveness in the market. The price of $650,000 is above the median home value in West Palm Beach (approximately $425,000 as of 2023), which could limit the pool of potential buyers.
The Ugly
The property's location in West Palm Beach exposes it to significant climate-related risks. Hurricane risk is high, potentially leading to insurance premiums 20-30% higher than the national average. Flood insurance may be necessary, adding $500-$1,000 annually to ownership costs. With no information on the HVAC system, there's a risk of an inefficient or outdated system, leading to high electricity costs in the hot, humid climate. The median income in the area ($68,079) suggests that this property may be out of reach for many local buyers, as it would require an income of approximately $150,000-$180,000 to comfortably afford (based on traditional lending standards), potentially limiting resale options.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for buyers with a household income of $150,000+ who can comfortably manage the mortgage and additional costs associated with homeownership in a hurricane-prone area. It's ideal for small families or professionals who value a central location in West Palm Beach. Investors looking for long-term appreciation potential in a growing Florida market may also find this property attractive, given the potential rental income and the property's pricing relative to the local market.
Not For
This property is not suitable for first-time homebuyers or those with limited budgets, given the high purchase price and potential for additional costs related to hurricane preparedness and insurance. It's also not ideal for large families needing more than 3 bedrooms or significantly more living space. Risk-averse buyers concerned about climate change impacts or those unwilling to take on the potential challenges of maintaining a home in a hurricane-prone area should look elsewhere.
Demographics
Area Median Income
$68,079
Property History
Price History
Ownership Timeline
$650,000Cash Purchase
Apr 1, 2022Lauren Gayle UrquhartAlisori Mindlin, Grigory Mindlin
Warranty Deed
Standard Sale (Purchase/Resales)
$327,000Financed
Aug 7, 2020Maritess T LasureLauren Urquhart
Warranty Deed
Standard Sale (Purchase/Resales)
$299,000Financed
Oct 28, 2019Arrow Investment Group LlcMaritess T Lasure
Warranty Deed
Standard Sale (Purchase/Resales)
$52,000Cash Purchase
Sep 21, 2016Rha 2 Trs LlcArrow Investment Group Llc
Special Warranty Deed
Non-Residential Arm's Length Transactions
$0Cash Purchase
May 23, 2014Rha 2 LlcRha 2 Trs Llc
Warranty Deed
Non-Arm's Length Transactions
$51,500Cash Purchase
Nov 8, 2013Meridian Trust LlcRha 2 Llc
Warranty Deed
Standard Sale (Purchase/Resales)
$45,000Cash Purchase
Nov 8, 2013Vivian E ReedMeridian Trust Llc
Warranty Deed
Standard Sale (Purchase/Resales)
Sunlight Analysis
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Sunlight Analysis
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Financials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$1,258
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$650,000
Price/sqft
$395
Layout
3 bd•2 ba
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$1,021,133
36.3%
Your price is 36.3% below average
Median Price
$1,200,000
45.8%
Based on 6 recent sales
Price per Sq.Ft
$623
36.6%
Your price is 36.6% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 1701 Florida Avenue, West Palm Beach, FL 33401 | $1,200,000 | 1,580 | 2 | 2 | $75992.3% | 12/17/2024 |
| 3308 Washington Road, West Palm Beach, FL 33405 | $1,500,000 | 1,534 | 2 | 2 | $978147.6% | 11/22/2024 |
| 1710 Florida Avenue, West Palm Beach, FL 33401 | $1,175,000 | 1,696 | 3 | 2 | $69375.4% | 10/28/2024 |
| 201 Greymon Drive, West Palm Beach, FL 33405 | $1,495,000 | 1,831 | 3 | 2 | $816106.8% | 11/21/2024 |
| 3349 E El Vedado Court E, West Palm Beach, FL 33405 | $326,800 | 1,583 | 3 | 2 | $20647.7% | 10/18/2024 |
| 4324 Garden Avenue, West Palm Beach, FL 33405 | $430,000 | 1,522 | 3 | 2 | $28328.5% | 10/27/2024 |
1701 Florida Avenue, West Palm Beach, FL 33401
Price: $1,200,000
Sq.Ft: 1,580
Beds/Baths: 2/2
$/Sq.Ft:
$75992.3%
Sale Date: 12/17/2024
3308 Washington Road, West Palm Beach, FL 33405
Price: $1,500,000
Sq.Ft: 1,534
Beds/Baths: 2/2
$/Sq.Ft:
$978147.6%
Sale Date: 11/22/2024
1710 Florida Avenue, West Palm Beach, FL 33401
Price: $1,175,000
Sq.Ft: 1,696
Beds/Baths: 3/2
$/Sq.Ft:
$69375.4%
Sale Date: 10/28/2024
201 Greymon Drive, West Palm Beach, FL 33405
Price: $1,495,000
Sq.Ft: 1,831
Beds/Baths: 3/2
$/Sq.Ft:
$816106.8%
Sale Date: 11/21/2024
3349 E El Vedado Court E, West Palm Beach, FL 33405
Price: $326,800
Sq.Ft: 1,583
Beds/Baths: 3/2
$/Sq.Ft:
$20647.7%
Sale Date: 10/18/2024
4324 Garden Avenue, West Palm Beach, FL 33405
Price: $430,000
Sq.Ft: 1,522
Beds/Baths: 3/2
$/Sq.Ft:
$28328.5%
Sale Date: 10/27/2024
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