612 Executive Center Dr #3107 · West Palm Beach, FL 33401

$230,000

2 bd · 2.0 ba · 770 sqft · Condo · 82 Days on market

Built 1992 Good condition $690/mo HOA · 18% 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 +29.1/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +4.0/5.0
• Rent growth +3.8/5.0
• Appreciation +0.0/10.0

Listing remarks

A great opportunity in a central West Palm Beach location, this first-floor condo offers value, convenience, and flexibility. Located just minutes from Tanger Outlets, Downtown West Palm Beach, and plenty of shopping and dining, with the beach under 20 minutes away, this home puts everything within easy reach. The kitchen has been renovated with modern cabinetry, quartz countertops, and newer stainless steel appliances. This 2-bedroom, 2-bath unit features a split floor plan, in-unit washer and dryer, private patio, and accordion shutters. Can be rented immediately, making it a great option for both homeowners and investors. Lake Place amenities include a pool, fitness center, tennis courts

Key facts

• Quartz countertops
• Modern cabinetry
• Split floor plan

Tags

• RENOVATED KITCHEN
• MODERN CABINETRY
• QUARTZ COUNTERTOPS
• SPLIT FLOOR PLAN
• IN-UNIT WASHER AND DRYER
• PRIVATE PATIO

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: HOA with monthly fee; Community amenities: clubhouse, fitness center, pool, tennis courts, parking, street lights; HOA covers cable TV, insurance, grounds maintenance, security, trash, common areas, recreation facilities

Exterior

• Parking: 2 assigned parking spaces; Guest parking
• Security: Smoke detectors; Gated community (no guard)
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; One-story; Entry-level living area; Faces east; Resale condition
• Construction: Stucco and CBS construction; Shingle roof
• Exterior features: Open patio; Patio

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; Split bedroom layout; Unfurnished
• Laundry & utility: Laundry closet inside (in kitchen)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $230k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $796 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $230k).
• Recommended offer: $216k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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: Westward Elementary School (math 30% / reading 29%, grade F, #1,896 of 2,144 statewide, top 90%, 500 students, 81% 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 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 50% district-wide (-24 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); 506 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $3,893/mo this rent would consume 69% of the median local household income ($68k/yr) (locally 2953% 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 $7k 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.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $64k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask is 9900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 $216,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 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. 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?
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: 1.69% ✓
• Cap rate: 10.44%
• Cash-on-cash: 14.83%
• DSCR: 1.66
• GRM: 4.9

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: 8.6%
• Equity multiple: 1.35×
• Total profit: $22,494
• Equity at exit: $34,294

10-year hold

• IRR: 20.1%
• Equity multiple: 2.92×
• Total profit: $123,689
• Equity at exit: $19,886

Cash invested: $64,400 (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: 506
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $3,893 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• HOA: −$690
• Vacancy / Maint / Mgmt: −$817
• Net cashflow: $796

Break-even live

Break-even rent $2,885

Max offer price $230,000

Occupancy floor 75%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$2,705	$2.53	19d	19	0.60mi
300 S Australian Ave #1608 West Palm Beach, FL	2.0	2.0	1085	$6,000	$5.53	24d	1	0.68mi
300 S Australian Ave #328 West Palm Beach, FL	1.0	1.0	846	$4,050	$4.79	20d	1	0.68mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	731	$6,632	$9.07	11d	16	0.72mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	727	$4,653	$6.40	24d	19	0.72mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1090	$3,348	$3.07	14d	2	0.77mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1090	$3,248	$2.98	11d	3	0.77mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1112	$3,348	$3.01	5d	2	0.77mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1130	$3,245	$2.87	3d	3	0.77mi
616 Clearwater Park Rd Unit Lp01 West Palm Beach, FL	2.0	2.0	1112	$3,495	$3.14	24d	1	0.79mi
630 S Sapodilla Ave West Palm Beach, FL	1.0–2.0	1.0–2.0	948	$3,950	$4.17	24d	2	1.04mi
630 S Sapodilla Ave West Palm Beach, FL	1.0–2.0	1.0–2.0	948	$3,950	$4.17	17d	3	1.04mi
921 8th St West Palm Beach, FL	3.0	1.0	1000	$3,395	$3.40	24d	1	1.05mi
720 S Sapodilla Ave #502 West Palm Beach, FL	2.0	2.0	1120	$3,750	$3.35	24d	1	1.06mi
780 S Sapodilla Ave West Palm Beach, FL	2.0	2.0	1120	$5,125	$4.58	7d	2	1.07mi
609 2nd St West Palm Beach, FL	2.0	2.0	978	$3,015	$3.08	18d	1	1.10mi
609 2nd St West Palm Beach, FL	2.0	2.0	1063	$3,240	$3.05	24d	1	1.10mi
609 2nd St West Palm Beach, FL	2.0	2.0	978	$3,325	$3.40	3d	1	1.10mi
591 Evernia St West Palm Beach, FL	2.0	1.0–2.0	943	$6,321	$6.70	3d	26	1.10mi
651 Okeechobee Blvd Unit 651 West Palm Beach, FL	2.0	2.0	1040	$3,000	$2.88	16d	1	1.12mi
651 Okeechobee Blvd West Palm Beach, FL	2.0	2.0–2.5	1050	$3,500	$3.33	22d	2	1.12mi
651 Okeechobee Blvd West Palm Beach, FL	2.0	2.0–2.5	1050	$3,375	$3.21	24d	3	1.12mi
651 Okeechobee Blvd West Palm Beach, FL	2.0	2.0–2.5	1050	$4,050	$3.86	2d	5	1.12mi
651 Okeechobee Blvd West Palm Beach, FL	2.0	2.0–2.5	1078	$3,998	$3.71	2d	6	1.12mi
651 Okeechobee Blvd West Palm Beach, FL	1.0–2.0	1.0–2.5	887	$5,000	$5.63	14d	5	1.12mi
1050 Blanche St West Palm Beach, FL	2.0	1.0–2.0	740	$3,374	$4.56	2d	8	1.18mi
1500 Centrepark Blvd West Palm Beach, FL	2.0	1.0–2.0	862	$3,002	$3.48	1d	18	1.20mi
550 Okeechobee Blvd Unit Uph-03 West Palm Beach, FL	2.0	2.0	1120	$8,000	$7.14	24d	1	1.24mi
550 Okeechobee Blvd #612 West Palm Beach, FL	1.0	1.0	755	$5,000	$6.62	24d	1	1.25mi
550 Okeechobee Blvd #1409 West Palm Beach, FL	2.0	2.0	1120	$10,000	$8.93	24d	1	1.25mi
550 Okeechobee Blvd #504 West Palm Beach, FL	2.0	2.0	1120	$3,700	$3.30	24d	1	1.25mi
550 Okeechobee Blvd #1605 West Palm Beach, FL	2.0	2.0	1120	$4,000	$3.57	5d	1	1.25mi
550 Okeechobee Blvd #1407 West Palm Beach, FL	2.0	2.0	1120	$4,250	$3.79	24d	1	1.25mi
550 Okeechobee Blvd Unit Mph-16 West Palm Beach, FL	1.0	1.0	755	$4,800	$6.36	24d	1	1.26mi
550 Okeechobee Blvd Unit Lph-06 West Palm Beach, FL	2.0	2.0	1120	$8,800	$7.86	24d	1	1.26mi
550 Okeechobee Blvd Unit Mph-16 West Palm Beach, FL	1.0	1.0	755	$4,800	$6.36	7d	1	1.26mi
480 Hibiscus St West Palm Beach, FL	1.0–2.0	1.5–2.0	885	$4,850	$5.48	24d	3	1.28mi
480 Hibiscus St West Palm Beach, FL	1.0–2.0	1.0–2.0	867	$4,850	$5.59	3d	4	1.28mi
499 Evernia St West Palm Beach, FL	2.0	1.0–2.0	827	$4,114	$4.97	2d	26	1.30mi
333 Fern St West Palm Beach, FL	2.0	1.0–2.0	1121	$5,938	$5.29	2d	1	1.35mi

HOA detail condo

• Monthly dues: $690 · $8,280/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-09
   days on market $230,000 Active 82 DOM
2. 2026-06-08
   days on market $230,000 Active 81 DOM
3. 2026-06-07
   days on market $230,000 Active 80 DOM
4. 2026-06-04
   days on market $230,000 Active 77 DOM
5. 2026-06-03
   days on market $230,000 Active 76 DOM
6. 2026-06-02
   days on market $230,000 Active 75 DOM
7. 2026-06-01
   days on market $230,000 Active 74 DOM
8. 2026-05-31
   days on market $230,000 Active 73 DOM
9. 2026-04-03
   price $2,200
10. 2026-04-01
    listed $2,300
11. 2026-04-01
    historical $2,300
12. 2026-03-19
    listed $230,000 Active
13. 2026-03-07
    historical
14. 2026-02-19
    listed $2,300
15. 2026-02-10
    price $230,000
16. 2025-12-10
    price $236,500
17. 2025-10-20
    listed $239,000 Active
18. 2025-10-17
    historical

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,712
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,150
• − Repairs & maintenance: −$3,737
• − Management: −$3,737
• − HOA: −$8,280
• − Depreciation: −$6,691
• Taxable income: $6,783
• Est. tax owed @ 24.0%: −$1,628
• After-tax cash flow: $7,921/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained, recently renovated condo is move-in ready and offers a great location with easy access to shopping, dining, and the beach.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace carpet in bedrooms — Carpet can be worn and is outdated
• Both Install smart home devices — Smart home devices improve convenience and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace carpet in bedrooms — Carpet can be worn and is outdated ↑
• Both Install smart home devices — Smart home devices improve convenience and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-99.1% since first listed

10 events — show timeline

• 2026-04-03 Price Changed $2,200 RMLSFL
• 2026-04-01 Listed for Rent $2,300 RMLSFL
• 2026-04-01 Rental Removed $2,300 GFLMLS
• 2026-03-19 Listed $230,000 Beaches MLS
• 2026-03-07 Listing Removed — Beaches MLS
• 2026-02-19 Listed for Rent $2,300 GFLMLS
• 2026-02-10 Price Changed $230,000 Beaches MLS
• 2025-12-10 Price Changed $236,500 Beaches MLS
• 2025-10-20 Listed $239,000 Beaches MLS
• 2025-10-17 Coming Soon — Beaches MLS