701 Laconia Cir Unit B · Greenacres, FL 33467

$154,900

2 bd · 2.0 ba · 941 sqft · Condo public records · 138 Days on market

Built 1983 $501/mo HOA · 24% 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 +16.5/30.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• 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

Purchase this new home with as little as 3% down, and step into the world where convenience meets tranquility. Covered Bridge is a pet friendly community which boasts 115 lush acres. Walk the 2 beautiful lakes for total serenity. This condo is pristine with newer carpet in the living/dining area and is bright and fresh. Park right outside your door which makes your daily life a breeze. Covered Bridge is a fabulous location within easy reach of PBI airport, Florida turnpike, wonderful eateries, and premier healthcare facilities. The community is a treasure trove of amenities from a fitness center to 2 sparkling pools. It's resort living at its best. Call now for an exclusive showing.

Key facts

• 115 lush acres
• Fitness center
• Newer carpet

Tags

• 115 LUSH ACRES
• 2 BEAUTIFUL LAKES
• NEWER CARPET
• FITNESS CENTER
• 2 SPARKLING POOLS

Property features AI

Finance

• Other: Senior community
• HOA & community: Community has an association (monthly fee); Monthly association fee includes insurance, grounds maintenance, sewer, trash, water, common areas, common real estate tax and recreation facility; Community amenities: clubhouse, fitness center, pool, tennis courts, billiard room, game room, sauna, shuffleboard, bocce ball, jogging path, picnic area, library, workshop area, manager on site, internet included, sidewalks, street lights, parking; Pets allowed with possible restrictions (number/size limits may apply); Community contains multiple units (large community)

Exterior

• Parking: Assigned parking; Guest parking; One open parking space
• Security: Owned security system
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium villa; Single-story; Entry level living area; Faces east; Resale property
• Construction: Built by K. Hovnanian Homes (model 'I'); Stucco and CBS construction; Composition, mansard, and rolled/hot mop roof; 941 building area (public records)
• Exterior features: Porch; Sidewalks; Paved road

Interior

• Kitchen: Electric range; Disposal; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Electric heating (central individual); Central individual cooling
• Interior features: Bedroom layout is stacked; Unfurnished
• Laundry & utility: Laundry closet inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% 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: schools D+, employment D, amenities 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.
• Market conditions: Rents soft (-0.4%/yr); 651 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); 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 $1k of loan paydown is wiped out by about $5k 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 138 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $122k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.37% ✓
• Cap rate: 7.01%
• Cash-on-cash: 2.54%
• DSCR: 1.11
• GRM: 6.1

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: -17.1%
• Equity multiple: 0.42×
• Total profit: $-25,131
• Equity at exit: $23,096

10-year hold

• IRR: -20.3%
• Equity multiple: 0.15×
• Total profit: $-37,027
• Equity at exit: $13,393

Cash invested: $43,372 (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 33467

• Rents YoY: -0.4%
• Active inventory: 651
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,129 high
• Mortgage (P&I): −$812
• Tax from tax record: −$212 /mo · $2,547/yr
• Insurance: −$65
• HOA: −$501
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $92

Break-even live

Break-even rent $2,013

Max offer price $154,900

Occupancy floor 91%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
845 Salem Ln Lake Worth, FL	2.0	2.0	1024	$1,850	$1.81	24d	1	0.19mi
711 Laconia Cir Unit B Lake Worth, FL	2.0	2.0	1088	$2,300	$2.11	24d	1	0.27mi
733 Nantucket Cir Lake Worth, FL	2.0	2.0	941	$2,500	$2.66	24d	1	0.27mi
192 Cape Cod Cir Lake Worth, FL	1.0	1.5	902	$1,850	$2.05	24d	1	0.29mi
245 Down East Ln Unit B Lake Worth, FL	2.0	2.0	941	$1,900	$2.02	24d	1	0.31mi
386 Bennington Ln Lake Worth, FL	2.0	2.0	941	$2,000	$2.13	15d	1	0.46mi
3593 Birdie Dr #103 Lake Worth, FL	1.0	1.5	824	$1,600	$1.94	24d	1	0.47mi
3755 Via Poinciana #304 Lake Worth, FL	2.0	2.0	1103	$2,000	$1.81	24d	1	0.61mi
3661 Via Poinciana #616 Lake Worth, FL	2.0	2.0	1103	$2,000	$1.81	13d	1	0.62mi
3661 Via Poinciana #616 Lake Worth, FL	2.0	2.0	1103	$2,000	$1.81	22d	1	0.62mi
3212 Strawflower Way Lake Worth, FL	2.0	2.0	1017	$2,000	$1.97	17d	2	0.67mi
3212 Strawflower Way #207 Lake Worth, FL	2.0	2.0	1017	$1,850	$1.82	24d	1	0.67mi
3212 Strawflower Way Greenacres, FL	2.0	2.0	1017	$2,200	$2.16	10d	1	0.67mi
3590 Via Poinciana #510 Lake Worth, FL	1.0	1.5	849	$1,600	$1.88	24d	1	0.69mi
3810 Via Poinciana #404 Lake Worth, FL	2.0	2.0	1114	$1,900	$1.71	7d	1	0.75mi
4373 Trevi Ct Lake Worth, FL	2.0	1.5	1080	$2,500	$2.31	17d	1	0.82mi
4070 Tivoli Ct #307 Lake Worth, FL	2.0	2.0	939	$1,750	$1.86	20d	1	0.83mi
4070 Tivoli Ct #307 Lake Worth, FL	2.0	2.0	939	$1,675	$1.78	5d	1	0.83mi
3146 Via Poinciana #301 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	20d	1	0.85mi
4363 Trevi Ct #203 Lake Worth, FL	1.0	1.5	761	$1,650	$2.17	24d	1	0.88mi
3154 Via Poinciana #214 Lake Worth, FL	2.0	2.0	1092	$1,500	$1.37	24d	1	0.92mi
4345 Trevi Ct #204 Lake Worth, FL	2.0	2.0	1005	$2,100	$2.09	20d	1	0.95mi
4575 Lucerne Lakes Blvd W #104 Lake Worth, FL	1.0	1.0	900	$1,240	$1.38	12d	1	0.97mi
4575 Lucerne Lakes Blvd W #104 Lake Worth, FL	1.0	1.0	900	$1,275	$1.42	7d	1	0.97mi
4120 Tivoli Ct #305 Lake Worth, FL	1.0	1.0	704	$1,750	$2.49	24d	1	0.99mi
8300 Garden Catalina Cir Lake Worth, FL	2.0	2.0	1097	$2,595	$2.37	24d	1	1.00mi
4100 Tivoli Ct #104 Lake Worth, FL	1.0	1.0	780	$1,600	$2.05	24d	1	1.00mi
4310 Chukka Ln Lake Worth, FL	1.0–3.0	1.0–2.0	986	$2,712	$2.75	1d	21	1.02mi
7257 Golf Colony Ct #203 Lake Worth, FL	2.0	2.0	790	$1,950	$2.47	7d	1	1.02mi
7149 Golf Colony Ct #104 Lake Worth, FL	2.0	2.0	790	$2,300	$2.91	24d	1	1.04mi
4640 Lucerne Lakes Blvd W Lake Worth, FL	2.0	1.0–2.0	960	$1,525	$1.59	4d	2	1.04mi
7149 Golf Colony Ct Lake Worth, FL	2.0	2.0	823	$2,098	$2.55	12d	2	1.04mi
7149 Golf Colony Ct Lake Worth, FL	2.0	2.0	823	$2,075	$2.52	2d	3	1.04mi
7101 Golf Colony Ct #102 Lake Worth, FL	2.0	2.0	790	$2,500	$3.16	24d	1	1.06mi
7137 Golf Colony Ct #202 Lake Worth, FL	2.0	2.0	735	$1,995	$2.71	15d	1	1.07mi
7137 Golf Colony Ct #202 Lake Worth, FL	2.0	2.0	735	$2,000	$2.72	4d	1	1.07mi
4230 Deste Ct Unit 305 Greenacres, FL	1.0	1.0	716	$1,900	$2.65	5d	1	1.07mi
4284 Deste Ct #304 Greenacres, FL	1.0	1.0	716	$2,200	$3.07	16d	1	1.07mi
4598 Lucerne Lakes Blvd E #101 Lake Worth, FL	2.0	2.0	872	$2,250	$2.58	5d	1	1.07mi
4598 Lucerne Lakes Blvd E #101 Lake Worth, FL	2.0	2.0	872	$2,250	$2.58	24d	1	1.07mi

HOA detail condo

• Monthly dues: $501 · $6,012/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-04
   days on market $154,900 Active 138 DOM
2. 2026-06-03
   days on market $154,900 Active 137 DOM
3. 2026-06-01
   days on market $154,900 Active 135 DOM
4. 2026-05-31
   days on market $154,900 Active 134 DOM
5. 2026-01-17
   listed $154,900 Active
6. 2025-09-01
   historical
7. 2025-06-12
   price $159,500
8. 2025-03-07
   price $164,500
9. 2025-02-10
   listed $169,500 Active
10. 2025-02-01
    historical
11. 2024-12-15
    price $174,900
12. 2024-10-12
    price $179,900
13. 2024-08-05
    listed $184,900 Active
14. 2020-05-13
    soldstatus $122,000
15. 2020-04-30
    soldstatus $122,000 Closed
16. 2020-03-14
    status Pending
17. 2020-03-01
    historical Active Under Contract
18. 2020-02-27
    price $122,000
19. 2020-01-29
    listed $126,450 Active
20. 1973-01-01
    soldstatus $23,500

ⓘ 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: $2,547 · $212/mo
• Projected year-2 tax: $2,547 · $212/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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 25 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: $25,550
• − Mortgage interest: −$8,677
• − Property taxes: −$2,547
• − Insurance: −$774
• − Repairs & maintenance: −$2,044
• − Management: −$2,044
• − HOA: −$6,012
• − Depreciation: −$4,506
• Taxable loss: −$1,054
• Est. tax savings @ 24.0%: +$253
• After-tax cash flow: $1,357/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

+559.1% since first listed

16 events — show timeline

• 2026-01-17 Listed $154,900 Beaches MLS
• 2025-09-01 Listing Removed — Beaches MLS
• 2025-06-12 Price Changed $159,500 Beaches MLS
• 2025-03-07 Price Changed $164,500 Beaches MLS
• 2025-02-10 Listed $169,500 Beaches MLS
• 2025-02-01 Listing Removed — Beaches MLS
• 2024-12-15 Price Changed $174,900 Beaches MLS
• 2024-10-12 Price Changed $179,900 Beaches MLS
• 2024-08-05 Listed $184,900 Beaches MLS
• 2020-05-13 Sold (Public Records) $122,000 Public Records
• 2020-04-30 Sold (MLS) $122,000 Beaches MLS
• 2020-03-14 Pending — Beaches MLS
• 2020-03-01 Contingent — Beaches MLS
• 2020-02-27 Price Changed $122,000 Beaches MLS
• 2020-01-29 Listed $126,450 Beaches MLS
• 1973-01-01 Sold (Public Records) $23,500 Public Records

Property tax history

+16.1%/yr

Latest (2025): $2,547 · +360.9% YoY. Source: county tax records.