4734 Lucerne Lakes Blvd E #301 · Greenacres, FL 33467

$124,000

2 bd · 2.0 ba · 1,402 sqft · Condo public records · 66 Days on market

Built 1996 $540/mo HOA · 25% of rent

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Why this score? — see what drove the B- 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 +29.7/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Larger corner unit (additional 70 SF) in very desirable Fairway Club at Lucerne Point Private balcony overlooking quiet canal with no boat traffic to interrupt your tranquility. This active Adult 55 community is located in a scenic section of Lake Worth with quick EZ access to shopping, restaurants, the Florida Turnpike and Palm Beach International Airport. The community offers multiple pools, tennis, pickleball, library, a clubhouse with fitness center, and bocce ball! Building was recently painted and looks great colored in white and blue. Fairway Club is well-managed with solid financials and reserves. There are no special assessments and Fairway Club has passed its required Milestone I

Key facts

• Fitness center
• Private balcony
• Corner unit

Tags

• CORNER UNIT
• PRIVATE BALCONY
• QUIET CANAL
• MULTIPLE POOLS
• FITNESS CENTER
• RECENTLY PAINTED

Property features AI

Finance

• Financial info: Pets not allowed; Is a senior community
• HOA & community: Has association (Fairway Club Condo); Monthly HOA fees; HOA includes maintenance of grounds and structure, pest control, security, sewer, trash, water, common areas, common real estate tax, elevator, legal/accounting, reserve funds, recreation facility and pool service; Association amenities: clubhouse, elevator(s), fitness center, game room, management, parking, pool (heated), shuffleboard, spa/hot tub, tennis courts, on-site manager, trash chute, bocce ball, community room, library, maintained community, pickleball courts, sidewalks, security, recreation facilities

Exterior

• Parking: 1 assigned/open parking space; Guest parking; Asphalt parking; Open parking
• Security: Fire alarm; Security patrol; Community security
• Utilities: Public water; Public sewer; Circuit breaker electrical service; Cable available; Sewer connected; Water connected
• Home design: Condominium; One level (entry on 3rd floor); Faces north
• Construction: Concrete/Stucco/CBS construction; Other roof
• Exterior features: Sidewalks; Landscaped grounds; Waterfront

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Disposal; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Heat pump heating; Central air; Ceiling fan(s); Reverse cycle; Individual central cooling
• Interior features: Walk-in closets; Blinds
• Laundry & utility: Inside, in-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $124k.

Deal economics

• At list price, monthly cash flow is $451 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $124k).
• Recommended offer: $117k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#490 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, 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: Discovery Key Elementary School (math 61% / reading 72%, grade B+, #473 of 2,144 statewide, top 23%, 1,050 students, 31% FRL); Woodlands Middle School (math 51% / reading 58%, grade B-, #183 of 571 statewide, top 34%, 1,551 students, 40% FRL) — zoned schools average 36% FRL vs 52% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-0.4%/yr); 665 active listings in the ZIP; 40 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $857 of loan paydown is wiped out by about $4k 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 66 days — a 6% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $79k; list at $124k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• 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 $116,560 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.77% ✓
• Cap rate: 10.66%
• Cash-on-cash: 15.60%
• DSCR: 1.69
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.07×
• Total profit: $2,516
• Equity at exit: $18,489

10-year hold

• IRR: 7.2%
• Equity multiple: 1.45×
• Total profit: $15,563
• Equity at exit: $10,721

Cash invested: $34,720 (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 33467

• Rents YoY: -0.4%
• Active inventory: 665
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,192 high
• Mortgage (P&I): −$650
• Tax from tax record: −$39 /mo · $463/yr
• Insurance: −$52
• HOA: −$540
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $451

Break-even live

Break-even rent $1,621

Max offer price $124,000

Occupancy floor 74%

Sensitivity live

Price	-10% $521	-5% $486	+0% $451	+5% $416	+10% $381
Rent	-10% $278	-5% $365	+0% $451	+5% $538	+10% $624
Rate	-1.0pp $514	-0.5pp $483	base $451	+0.5pp $419	+1.0pp $386

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4735 Lucerne Lakes Blvd W Unit 410 Greenacres, FL	2.0	2.0	1330	$1,700	$1.28	23d	1	0.07mi
4735 Lucerne Lakes Blvd E #410 Lake Worth, FL	2.0	2.0	1330	$1,700	$1.28	25d	1	0.11mi
4725 Lucerne Lakes Blvd E Lake Worth, FL	2.0	2.0	1330	$1,950	$1.47	9d	2	0.13mi
4725 Lucerne Lakes Blvd E Lake Worth, FL	2.0	2.0	1330	$1,950	$1.47	22d	2	0.13mi
4640 Lucerne Lakes Blvd W #605 Lake Worth, FL	2.0	1.0	900	$1,600	$1.78	16d	1	0.19mi
7593 Tahiti Ln #205 Lake Worth, FL	2.0	2.0	1186	$1,800	$1.52	25d	1	0.23mi
4698 Lucerne Lakes Blvd E #103 Lake Worth, FL	2.0	2.0	1244	$2,100	$1.69	25d	1	0.28mi
4698 Lucerne Lakes Blvd E Unit 46 Greenacres, FL	2.0	2.0	1600	$2,000	$1.25	25d	1	0.28mi
4760 Lucerne Lakes Blvd W #405 Lake Worth, FL	1.0	1.5	1000	$1,490	$1.49	25d	1	0.30mi
4640 Lucerne Lakes Blvd W Lake Worth, FL	2.0	1.0–2.0	960	$1,525	$1.59	5d	2	0.37mi
43 W Plumosa Ln Lake Worth, FL	1.0	1.0	1527	$2,100	$1.38	25d	1	0.42mi
4489 Luxemburg Ct #101 Lake Worth, FL	2.0	2.0	1005	$2,000	$1.99	25d	1	0.44mi
4575 Lucerne Lakes Blvd W #104 Lake Worth, FL	1.0	1.0	900	$1,275	$1.42	9d	1	0.45mi
4575 Lucerne Lakes Blvd W #104 Lake Worth, FL	1.0	1.0	900	$1,240	$1.38	13d	1	0.45mi
4483 Luxemburg Ct #201 Lake Worth, FL	3.0	2.0	1265	$2,800	$2.21	25d	1	0.46mi
4471 Luxemburg Ct #101 Lake Worth, FL	2.0	2.0	1005	$2,300	$2.29	20d	1	0.49mi
4471 Luxemburg Ct Lake Worth, FL	2.0	2.0	1005	$2,150	$2.14	25d	2	0.49mi
4539 Luxemburg Ct Lake Worth, FL	2.0	2.0	1027	$2,250	$2.19	6d	1	0.50mi
4539 Luxemburg Ct Lake Worth, FL	2.0	2.0	1005	$2,250	$2.24	25d	1	0.50mi
4469 Luxemburg Ct Lake Worth, FL	3.0	2.5	1502	$3,400	$2.26	25d	1	0.50mi
4557 Luxemburg Ct Lake Worth, FL	2.0	1.5	1065	$2,400	$2.25	25d	1	0.52mi
5592 1st Rd Lake Worth, FL	3.0	2.0	1693	$3,500	$2.07	5d	1	0.64mi
4770 Fountains Dr S #303 Lake Worth, FL	2.0	2.0	1434	$2,200	$1.53	4d	1	0.64mi
4702 Fountains Dr S #207 Lake Worth, FL	2.0	2.5	1434	$2,600	$1.81	2d	1	0.67mi
4702 Fountains Dr S #207 Lake Worth, FL	2.0	2.5	1434	$2,600	$1.81	25d	1	0.67mi
4657 Fountains Dr S #206 Lake Worth, FL	1.0	1.0	882	$1,650	$1.87	13d	1	0.69mi
5172 Fountains Dr S Lake Worth, FL	2.0	2.0	1591	$2,400	$1.51	25d	1	0.70mi
5586 3rd Rd Lake Worth, FL	3.0	2.0	1116	$3,250	$2.91	5d	1	0.72mi
4801 Esedra Ct Lake Worth, FL	2.0	2.0	1027	$2,075	$2.02	12d	2	0.78mi
4801 Esedra Ct #201 Lake Worth, FL	2.0	2.0	1005	$2,300	$2.29	25d	1	0.78mi
6909 Harbours Edge Ave Unit 6909 Greenacres, FL	3.0	2.5	1695	$3,000	$1.77	9d	1	0.82mi
6909 Harbours Edge Ave Unit 6909 Greenacres, FL	3.0	2.5	1695	$3,000	$1.77	25d	1	0.82mi
4345 Trevi Ct #204 Lake Worth, FL	2.0	2.0	1005	$2,100	$2.09	22d	1	0.83mi
4832 Esedra Ct #203 Lake Worth, FL	3.0	2.0	1225	$1,800	$1.47	25d	1	0.85mi
4832 Esedra Ct Lake Worth, FL	1.0–3.0	1.0–2.0	1026	$1,650	$1.61	4d	2	0.86mi
4266 Deste Ct #107 Greenacres, FL	2.0	2.0	978	$2,100	$2.15	25d	1	0.87mi
4125 Pine Branch Cir Lake Worth, FL	3.0	2.0	1786	$2,800	$1.57	25d	1	0.88mi
4329 Pond Lily Ln Unit 4329 Greenacres, FL	3.0	2.5	1690	$2,950	$1.75	23d	1	0.88mi
4360 Fountains Dr Lake Worth, FL	3.0	3.0	1600	$2,750	$1.72	25d	1	0.89mi
4373 Trevi Ct Lake Worth, FL	2.0	1.5	1080	$2,500	$2.31	18d	1	0.89mi

HOA detail condo

• Monthly dues: $540 · $6,480/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-02
   status $124,000 Pending 66 DOM
2. 2026-06-01
   days on market $124,000 Active 66 DOM
3. 2026-05-31
   days on market $124,000 Active 65 DOM
4. 2026-05-08
   price $129,000
5. 2026-04-09
   price $139,000
6. 2026-03-27
   listed $169,000 Active
7. 1996-04-10
   soldstatus $79,000

ⓘ 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: $463 · $39/mo
• Projected year-2 tax: $1,029 · $86/mo
• Expected delta: +$566/yr (+$47/mo · 122.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,305
• − Mortgage interest: −$6,946
• − Property taxes: −$463
• − Insurance: −$620
• − Repairs & maintenance: −$2,104
• − Management: −$2,104
• − HOA: −$6,480
• − Depreciation: −$3,607
• Taxable income: $3,980
• Est. tax owed @ 24.0%: −$955
• After-tax cash flow: $4,460/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 — Greenacres

• Score: 69/100
• State rank: #490
• US rank: #9008

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• City population: 65,478
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 58,411
• Household income: $95,739
• Rent vs Own: 13.6% rent · 86.4% own
• Severe rent burden: 960.0

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 0.59)
• Race & ethnicity: White 59% Hispanic / Latino 22% Two or more races 13% Black 10% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 4% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Hispanic 3%
• Foreign-born: 24% · Canada, Jamaica, Vietnam
• Languages at home: 71% English-only · Spanish 17% French/Haitian/Cajun 5% Other Indo-European 3%

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: ▼ -288.94%
• Current HPI: 343.7738
• Rent YoY: ▼ -0.40%
• 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

+63.3% since first listed

4 events — show timeline

• 2026-05-08 Price Changed $129,000 Beaches MLS
• 2026-04-09 Price Changed $139,000 Beaches MLS
• 2026-03-27 Listed $169,000 Beaches MLS
• 1996-04-10 Sold (Public Records) $79,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $463 · +3.9% YoY. Source: county tax records.