402 Lakeview Dr E · Royal Palm Beach, FL 33411

$204,900

2 bd · 2.0 ba · 1,165 sqft · Condo public records · 21 Days on market

Built 1982 $407/mo HOA · 18% 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 +10.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• DSCR +3.1/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this beautifully maintained condo offering comfort, space, and serene views! This bright and airy unit features a dining area with high ceilings, creating a spacious feel perfect for both relaxing and entertaining. Natural light pours in through large windows, highlighting the modern finishes and inviting layout. The kitchen is well-appointed with ample cabinet space and a functional design, making meal prep a breeze. Bedrooms are generously sized, with the primary suite offering a peaceful retreat and plenty of storage. Bathrooms are clean and well-kept with updated fixtures. Step outside to your private screened-in balcony and enjoy tranquil views of lush greenery—perfect

Key facts

• Large windows
• Dining area
• Ample cabinet space

Tags

• DINING AREA
• HIGH CEILINGS
• LARGE WINDOWS
• AMPLE CABINET SPACE
• PRIVATE SCREENED-IN BALCONY
• TRANQUIL VIEWS

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Homeowners association present; Monthly HOA fee of $407; HOA fee includes water; Association amenities listed as other

Exterior

• Parking: No carport; No designated parking total listed
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Condominium; Resale; 2 stories total; Faces east
• Construction: CBS construction
• Exterior features: Not waterfront; Other roof type

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Electric heating; Central air conditioning; Ceiling fan(s)
• Interior features: Electric water heater; Ceiling fans
• Laundry & utility: Washer/dryer hookup (utility information not explicitly listed but common with listed appliances)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $205k.

Deal economics

• At list price, monthly cash flow is $-98 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (8.5% below list).
• Meets the 1% rule at list price ($2k rent vs $205k).
• Recommended offer: $188k (8.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 79/100 on livability (#135 in FL, #2,039 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living C-, amenities F, commute 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: Royal Palm Beach Elementary School (math 58% / reading 62%, grade B-, #680 of 2,144 statewide, top 32%, 662 students, 40% FRL); Crestwood Community Middle (math 49% / reading 52%, grade C, #246 of 571 statewide, top 44%, 724 students, 50% FRL); Royal Palm Beach High School (math 22% / reading 38%, grade F, #441 of 667 statewide, top 67%, 2,343 students, 57% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: Rents flat; 574 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 27y 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 $137k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: 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 $187,526 (8.5% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
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 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: 1.11% ✓
• Cap rate: 5.72%
• Cash-on-cash: -2.06%
• DSCR: 0.91
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: 22.0%
• Equity multiple: 2.76×
• Total profit: $100,827
• Equity at exit: $184,590

10-year hold

• IRR: 19.2%
• Equity multiple: 6.12×
• Total profit: $293,532
• Equity at exit: $398,076

Cash invested: $57,372 (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 33411

• Home prices YoY: 1.9%
• Rents YoY: 0.8%
• Active inventory: 574
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,283 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$335 /mo · $4,024/yr
• Insurance: −$85
• HOA: −$407
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $-98

Break-even live

Break-even rent $2,408

Max offer price $187,526

Occupancy floor 99%

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1407 Lakeview Dr E Royal Palm Beach, FL	2.0	2.0	1165	$2,300	$1.97	8d	1	0.15mi
1601 Lakeview Dr W Unit 1601 Royal Palm Beach, FL	3.0	2.5	1296	$2,375	$1.83	22d	1	0.16mi
182 Sparrow Dr Unit A Royal Palm Beach, FL	3.0	2.0	1485	$3,000	$2.02	24d	1	0.23mi
1803 Palm Beach Trace Dr Royal Palm Beach, FL	2.0	2.0	1201	$2,000	$1.67	19d	1	0.30mi
202 Sparrow Dr #1 Royal Palm Beach, FL	3.0	2.0	1020	$2,400	$2.35	24d	1	0.31mi
210 Sparrow Dr #4 Royal Palm Beach, FL	2.0	2.0	930	$1,900	$2.04	21d	1	0.32mi
1605 Palm Beach Trace Dr Royal Palm Beach, FL	2.0	2.0	1201	$2,100	$1.75	13d	1	0.32mi
145 Prestige Dr Royal Palm Beach, FL	3.0	2.0	1464	$2,900	$1.98	17d	1	0.33mi
905 Palm Beach Trace Dr Royal Palm Beach, FL	1.0	2.0	1201	$1,700	$1.42	24d	1	0.35mi
139 Sparrow Dr Royal Palm Beach, FL	2.0–3.0	1.5–2.5	1100	$1,850	$1.68	15d	3	0.42mi
180 Heatherwood Dr Royal Palm Beach, FL	3.0	2.0	1462	$2,710	$1.85	5d	1	0.48mi
43 Essex Ct Unit A Royal Palm Beach, FL	2.0	2.5	1398	$2,500	$1.79	24d	1	0.58mi
120 Sparrow Dr Royal Palm Beach, FL	2.0	2.0–2.5	793	$2,200	$2.77	22d	2	0.59mi
120 Sparrow Dr #205 Royal Palm Beach, FL	2.0	2.0	793	$2,200	$2.77	24d	1	0.59mi
216 Cordoba Cir Royal Palm Beach, FL	3.0	2.0	1461	$3,080	$2.11	8d	1	0.62mi
36 Danbury Ct Unit B Royal Palm Beach, FL	2.0	2.5	1398	$2,300	$1.65	11d	1	0.64mi
110 Weybridge Cir Unit A Royal Palm Beach, FL	2.0	2.5	1470	$2,350	$1.60	22d	1	0.65mi
73 Macadamia Ct Royal Palm Beach, FL	2.0	2.0	1112	$2,000	$1.80	11d	1	0.73mi
132 Weybridge Cir Royal Palm Beach, FL	2.0	2.5	1470	$3,000	$2.04	24d	1	0.79mi
118 Bobwhite Rd Royal Palm Beach, FL	3.0	2.0	1444	$3,200	$2.22	18d	1	0.80mi
151 Cordoba Cir Royal Palm Beach, FL	3.0	2.0	1421	$3,300	$2.32	24d	1	0.83mi
10863 Dalmany Way Royal Palm Beach, FL	3.0	2.0	1232	$3,500	$2.84	24d	1	0.84mi
263 Deerfield Ct Royal Palm Beach, FL	2.0	2.0	1120	$1,800	$1.61	24d	1	0.90mi
7 Greenway Vlg N Royal Palm Beach, FL	1.0–2.0	1.5–2.0	930	$1,700	$1.83	17d	2	0.91mi
7 Greenway Vlg N #107 Royal Palm Beach, FL	1.0	1.5	780	$1,650	$2.12	5d	1	0.91mi
2 Greenway Vlg N #210 Royal Palm Beach, FL	2.0	2.0	1080	$2,000	$1.85	24d	1	0.92mi
4 Greenway Vlg N #203 Royal Palm Beach, FL	2.0	2.0	1080	$2,000	$1.85	24d	1	0.96mi
240 Bilbao St Royal Palm Beach, FL	3.0	2.0	1440	$3,400	$2.36	24d	1	1.00mi
81 Westecunk Dr Royal Palm Beach, FL	2.0	2.0	1347	$2,550	$1.89	18d	1	1.02mi
1049 Grandview Cir Royal Palm Beach, FL	3.0	2.0	792	$3,100	$3.91	18d	1	1.03mi
12007 Poinciana Blvd #205 Royal Palm Beach, FL	2.0	2.0	1088	$1,590	$1.46	15d	1	1.06mi
10336 Fox Trail Rd S #1305 West Palm Beach, FL	2.0	2.0	1048	$2,100	$2.00	24d	1	1.10mi
12002 Poinciana Blvd #204 Royal Palm Beach, FL	2.0	2.0	1048	$1,750	$1.67	24d	1	1.10mi
10354 Fox Trail Rd S #1501 West Palm Beach, FL	2.0	2.0	1048	$2,000	$1.91	17d	1	1.10mi
10360 Fox Trail Rd S #1602 West Palm Beach, FL	2.0	2.0	1048	$1,920	$1.83	21d	1	1.10mi
10324 Fox Trail Rd S Unit 324 Royal Palm Beach, FL	2.0	2.0	1048	$1,900	$1.81	24d	1	1.11mi
10342 Fox Trail Rd S Unit 342 Royal Palm Beach, FL	1.0	1.0	784	$1,700	$2.17	24d	1	1.13mi
10306 Fox Trail Rd S #912 West Palm Beach, FL	1.0	1.0	775	$1,700	$2.19	3d	1	1.17mi
4 W Greenway Dr Unit 201 Royal Palm Beach, FL	1.0	1.5	780	$1,450	$1.86	24d	1	1.22mi
10276 Fox Trail Rd S West Palm Beach, FL	2.0	2.0	1051	$1,900	$1.81	24d	2	1.22mi

HOA detail condo

• Monthly dues: $407 · $4,884/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-05-04
   status Pending
2. 2026-04-13
   listed $204,900 Active
3. 2018-03-21
   soldstatus $137,000
4. 2018-02-27
   status Pending
5. 2018-02-27
   historical
6. 2018-02-24
   price $140,000
7. 2018-02-24
   price $137,000
8. 2018-02-23
   status Active
9. 2018-01-09
   historical
10. 2018-01-08
    listed $145,900
11. 2018-01-08
    historical
12. 2018-01-01
    historical
13. 2018-01-01
    listed $145,900 Active
14. 2017-12-01
    price $144,900
15. 2017-10-27
    listed $150,000 Active
16. 2008-06-30
    soldstatus $125,000
17. 2007-08-12
    historical
18. 2007-03-13
    listed $181,500
19. 2005-02-10
    soldstatus $149,900
20. 2002-03-28
    soldstatus $78,000
21. 2002-03-19
    soldstatus $78,000
22. 2002-02-04
    historical
23. 2002-01-30
    listed $79,900
24. 2000-05-31
    soldstatus $55,900
25. 2000-05-26
    soldstatus $55,900
26. 2000-05-15
    historical
27. 2000-03-14
    listed $59,900
28. 1999-11-03
    soldstatus $53,000
29. 1999-11-01
    soldstatus $53,000
30. 1999-07-27
    historical
31. 1999-06-22
    listed $55,900
32. 1982-09-01
    soldstatus $72,500

ⓘ 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: $4,024 · $335/mo
• Projected year-2 tax: $4,024 · $335/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $27,400
• − Mortgage interest: −$11,478
• − Property taxes: −$4,024
• − Insurance: −$1,024
• − Repairs & maintenance: −$2,192
• − Management: −$2,192
• − HOA: −$4,884
• − Depreciation: −$5,961
• Taxable loss: −$4,354
• Est. tax savings @ 24.0%: +$1,045
• After-tax cash flow: $-135/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 — Royal Palm Beach

• Score: 79/100
• State rank: #135
• US rank: #2039

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Royal Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 75,299
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 76,863
• Household income: $92,591
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 1870.0

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 0.70)
• Race & ethnicity: White 44% Hispanic / Latino 24% Black 23% Two or more races 16% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 4% Dominican 2%
• Common ancestry: Hispanic 6% Romanian 2% Italian 1%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 17% French/Haitian/Cajun 4% 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: ▲ 17.04%
• Current HPI: 903.78
• Rent YoY: ▲ 0.85%
• 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

+182.6% since first listed

32 events — show timeline

• 2026-05-04 Pending — Beaches MLS
• 2026-04-13 Listed $204,900 Beaches MLS
• 2018-03-21 Sold (Public Records) $137,000 Public Records
• 2018-02-27 Pending — Beaches MLS
• 2018-02-27 Listing Removed — Beaches MLS
• 2018-02-24 Price Changed $140,000 Beaches MLS
• 2018-02-24 Price Changed $137,000 Beaches MLS
• 2018-02-23 Relisted — Beaches MLS
• 2018-01-09 Listing Removed — Beaches MLS
• 2018-01-08 Listing Removed — Beaches MLS
• 2018-01-08 Listed $145,900 Beaches MLS
• 2018-01-01 Listing Removed — Beaches MLS
• 2018-01-01 Listed $145,900 Beaches MLS
• 2017-12-01 Price Changed $144,900 Beaches MLS
• 2017-10-27 Listed $150,000 Beaches MLS
• 2008-06-30 Sold (Public Records) $125,000 Public Records
• 2007-08-12 Listing Removed — Beaches MLS
• 2007-03-13 Listed $181,500 Beaches MLS
• 2005-02-10 Sold (Public Records) $149,900 Public Records
• 2002-03-28 Sold (Public Records) $78,000 Public Records
• 2002-03-19 Sold (MLS) $78,000 Beaches MLS
• 2002-02-04 Listing Removed — Beaches MLS
• 2002-01-30 Listed $79,900 Beaches MLS
• 2000-05-31 Sold (Public Records) $55,900 Public Records
• 2000-05-26 Sold (MLS) $55,900 Beaches MLS
• 2000-05-15 Listing Removed — Beaches MLS
• 2000-03-14 Listed $59,900 Beaches MLS
• 1999-11-03 Sold (Public Records) $53,000 Public Records
• 1999-11-01 Sold (MLS) $53,000 Beaches MLS
• 1999-07-27 Listing Removed — Beaches MLS
• 1999-06-22 Listed $55,900 Beaches MLS
• 1982-09-01 Sold (Public Records) $72,500 Public Records

Property tax history

+8.4%/yr

Latest (2025): $4,024 · +138.7% YoY. Source: county tax records.