105 Lake Irene Dr · West Palm Beach, FL 33411

$155,000

1 bd · 1.5 ba · 706 sqft · Condo public records · 118 Days on market

Built 1979 $493/mo HOA · 30% of rent

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.3/30.0
• 1% rule +5.4/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +0.6/10.0

Listing remarks MLS

Quant 55+ single story villa with lake view is steps away from pool, mailroom, and laundry facility. Gated community, guard, passkey entries and alternate resident only entry/exit near condo location. Perfectly located minutes away from groceries, shopping, PBI Airport, 20min to the Beach. HOA includes water, master insurance coverage, maintenance for exterior, lawn care, community amenities-Tennis Courts, Pools, Hot Tubs. Kitchen features stainless steel appliances throughout. In unit walk in storage room with AC Unit, and Hot Water Tank. Large living / dining room area well lit from large sliding glass doors to screened enclosed porch. Master Bedroom has full bathroom with tub and accessibility handles. New bathroom vanity in box pictured in living room if buyer wants its included.

Key facts

• Gated community
• Fitness center
• Lake views

Tags

• LAKE VIEWS
• GATED COMMUNITY
• HEATED POOL
• FITNESS CENTER
• TENNIS COURTS
• EASY ACCESS TO SHOPPING

Property features AI

Finance

• Other: Directions available to property
• Financial info: Pets allowed (cats only; pet restrictions possible); Senior community
• HOA & community: Association with amenities including clubhouse, fitness center, pool, tennis courts, pickleball and shuffleboard courts, bocce ball, jogging path, sidewalks, street lights, community room, courtesy bus, manager on site, parking and management; Monthly HOA fee (amount available in records)

Exterior

• Parking: Assigned parking; Guest parking; On-street parking; Two open parking spaces
• Security: Gated community with guard; Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; One story; Resale property; Faces east
• Construction: Brick, stucco, and CBS construction; Wood truss/rafter roof; Built as part of prior construction (appraiser building area source)
• Exterior features: Screened patio; Open porch; Patio; Porch; Interior lot; Sidewalks; Waterfront: yes (no specific waterfront features listed)

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: One bedroom on the main level
• Flooring: Ceramic tile; Tile flooring throughout
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Built-in features; Entrance foyer; Walk-in closet(s); Custom mirrors; Roman tub; Sliding windows
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $-274 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $107k (31.3% below list).
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $107k (31.3% below list) — sets the bar for cash-flow.

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: Benoist Farms Elementary School (math 22% / reading 28%, grade F, #2,030 of 2,144 statewide, top 95%, 421 students, 80% FRL); Jeaga Middle School (math 18% / reading 30%, grade F, #532 of 571 statewide, top 94%, 941 students, 78% 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 average 72% FRL vs 52% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 50% district-wide (-23 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 flat; 583 active listings in the ZIP; 22 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

• In year one you build about $17k of equity ($1k loan paydown + $16k 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 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago; this cycle's ask is 10233% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $130k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,531 (31.3% 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. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 1.04% ✓
• Cap rate: 4.17%
• Cash-on-cash: -7.59%
• DSCR: 0.66
• GRM: 8.0

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: 18.1%
• Equity multiple: 2.47×
• Total profit: $63,835
• Equity at exit: $139,636

10-year hold

• IRR: 16.4%
• Equity multiple: 5.52×
• Total profit: $195,999
• Equity at exit: $301,131

Cash invested: $43,400 (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 33411

• Home prices YoY: 1.9%
• Rents YoY: 0.8%
• Active inventory: 583
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,619 high
• Mortgage (P&I): −$813
• Tax from tax record: −$183 /mo · $2,192/yr
• Insurance: −$65
• HOA: −$493
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $-274

Break-even live

Break-even rent $1,966

Max offer price $106,531

Occupancy floor —

Sensitivity live

Price	-10% $-187	-5% $-230	+0% $-274	+5% $-318	+10% $-362
Rent	-10% $-402	-5% $-338	+0% $-274	+5% $-210	+10% $-146
Rate	-1.0pp $-196	-0.5pp $-235	base $-274	+0.5pp $-315	+1.0pp $-355

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
161 Lake Frances Dr Unit 161 West Palm Beach, FL	1.0	1.5	704	$1,430	$2.03	9d	1	0.19mi
1545 Lake Crystal Dr Unit D West Palm Beach, FL	1.0	1.0	700	$1,675	$2.39	15d	1	0.48mi
203 Lake Carol Dr West Palm Beach, FL	1.0	1.0	600	$1,500	$2.50	26d	1	0.52mi
175 Lake Carol Dr #175 West Palm Beach, FL	1.0	1.0	600	$1,300	$2.17	26d	1	0.53mi
228 Lake Dora Dr West Palm Beach, FL	1.0	1.5	704	$1,500	$2.13	24d	1	0.53mi
129 Lake Carol Dr #129 West Palm Beach, FL	1.0	1.0	600	$1,500	$2.50	26d	1	0.53mi
228 Lake Dora Dr West Palm Beach, FL	1.0	1.5	704	$1,500	$2.13	26d	1	0.53mi
173 Lake Dora Dr #173 West Palm Beach, FL	1.0	1.5	704	$1,400	$1.99	26d	1	0.53mi
1153 Lake Victoria Dr Royal Palm Beach, FL	2.0	1.0	708	$1,725	$2.44	26d	1	0.56mi
1215 N Benoist Farms Rd #203 West Palm Beach, FL	2.0	1.0	708	$1,750	$2.47	26d	1	0.68mi
1203 N Benoist Farms Rd #107 West Palm Beach, FL	1.0	1.0	530	$1,480	$2.79	26d	1	0.69mi
1203 N Benoist Farms Rd #107 West Palm Beach, FL	1.0	1.0	530	$1,480	$2.79	20d	1	0.69mi
1101 N Benoist Farms Rd #106 West Palm Beach, FL	2.0	1.0	708	$1,700	$2.40	26d	1	0.76mi
1080 N Benoist Farms Rd #204 West Palm Beach, FL	2.0	1.0	708	$1,500	$2.12	18d	1	0.77mi
1080 N Benoist Farms Rd #204 West Palm Beach, FL	2.0	1.0	708	$1,500	$2.12	1d	1	0.77mi
1068 N Benoist Farms Rd #205 West Palm Beach, FL	2.0	1.0	708	$1,800	$2.54	26d	1	0.80mi
1089 N Benoist Farms Rd #301 West Palm Beach, FL	1.0	1.0	540	$1,550	$2.87	22d	1	0.80mi
7080 Banyan Leaf Rd West Palm Beach, FL	1.0–2.0	1.0–2.0	742	$1,847	$2.49	0d	18	0.81mi
1990 Augustine Rd West Palm Beach, FL	1.0–2.0	1.0–2.0	1019	$2,051	$2.01	1d	15	0.82mi
6559 Emerald Dunes Dr Royal Palm Beach, FL	1.0–3.0	1.0–2.0	1060	$1,850	$1.74	0d	3	1.39mi
6559 Emerald Dunes Dr Royal Palm Beach, FL	1.0–3.0	1.0–2.0	1060	$1,925	$1.82	26d	2	1.39mi
6482 Emerald Dunes Dr Unit 215 Royal Palm Beach, FL	1.0	1.0	745	$1,700	$2.28	26d	1	1.39mi

HOA detail condo

• Monthly dues: $493 · $5,916/yr
• Likely covers: waterlandscapinginsurancepoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-21
   days on market $155,000 Active 118 DOM
2. 2026-06-18
   days on market $155,000 Active 115 DOM
3. 2026-06-17
   days on market $155,000 Active 114 DOM
4. 2026-06-16
   days on market $155,000 Active 113 DOM
5. 2026-06-15
   days on market $155,000 Active 112 DOM
6. 2026-06-13
   days on market $155,000 Active 110 DOM
7. 2026-06-09
   days on market $155,000 Active 106 DOM
8. 2026-06-07
   days on market $155,000 Active 104 DOM
9. 2026-06-04
   days on market $155,000 Active 101 DOM
10. 2026-06-03
    days on market $155,000 Active 100 DOM
11. 2026-06-02
    days on market $155,000 Active 99 DOM
12. 2026-06-01
    days on market $155,000 Active 98 DOM
13. 2026-05-31
    days on market $155,000 Active 97 DOM
14. 2026-03-03
    historical $1,500
15. 2026-02-27
    listed $1,500
16. 2026-02-23
    listed $155,000 Active
17. 2026-02-16
    historical $1,475
18. 2026-01-25
    historical
19. 2026-01-12
    price $1,475
20. 2026-01-11
    listed $167,000 Active
21. 2025-12-18
    listed $1,600
22. 2024-01-26
    soldstatus $130,000 Closed 794-char remark

    Show marketing remark (794 chars)

    Quant 55+ single story villa with lake view is steps away from pool, mailroom, and laundry facility. Gated community, guard, passkey entries and alternate resident only entry/exit near condo location. Perfectly located minutes away from groceries, shopping, PBI Airport, 20min to the Beach. HOA includes water, master insurance coverage, maintenance for exterior, lawn care, community amenities-Tennis Courts, Pools, Hot Tubs. Kitchen features stainless steel appliances throughout. In unit walk in storage room with AC Unit, and Hot Water Tank. Large living / dining room area well lit from large sliding glass doors to screened enclosed porch. Master Bedroom has full bathroom with tub and accessibility handles. New bathroom vanity in box pictured in living room if buyer wants its included.

23. 2024-01-19
    soldstatus $130,000
24. 2023-11-02
    listed $139,000 Active 794-char remark

    Show marketing remark (794 chars)

    Quant 55+ single story villa with lake view is steps away from pool, mailroom, and laundry facility. Gated community, guard, passkey entries and alternate resident only entry/exit near condo location. Perfectly located minutes away from groceries, shopping, PBI Airport, 20min to the Beach. HOA includes water, master insurance coverage, maintenance for exterior, lawn care, community amenities-Tennis Courts, Pools, Hot Tubs. Kitchen features stainless steel appliances throughout. In unit walk in storage room with AC Unit, and Hot Water Tank. Large living / dining room area well lit from large sliding glass doors to screened enclosed porch. Master Bedroom has full bathroom with tub and accessibility handles. New bathroom vanity in box pictured in living room if buyer wants its included.

25. 2020-02-18
    soldstatus $54,750 Closed
26. 2019-12-12
    status Pending
27. 2019-11-12
    listed $55,900 Active
28. 1999-01-29
    soldstatus $24,000

ⓘ 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: $2,192 · $183/mo
• Projected year-2 tax: $2,192 · $183/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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 27 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: $19,424
• − Mortgage interest: −$8,682
• − Property taxes: −$2,192
• − Insurance: −$775
• − Repairs & maintenance: −$1,554
• − Management: −$1,554
• − HOA: −$5,916
• − Depreciation: −$4,509
• Taxable loss: −$5,759
• Est. tax savings @ 24.0%: +$1,382
• After-tax cash flow: $-1,910/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 — 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

• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• 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

-93.8% since first listed

15 events — show timeline

• 2026-03-03 Rental Removed $1,500 RMLSFL
• 2026-02-27 Listed for Rent $1,500 RMLSFL
• 2026-02-23 Listed $155,000 Beaches MLS
• 2026-02-16 Rental Removed $1,475 GFLMLS
• 2026-01-25 Listing Removed — Beaches MLS
• 2026-01-12 Price Changed $1,475 GFLMLS
• 2026-01-11 Listed $167,000 Beaches MLS
• 2025-12-18 Listed for Rent $1,600 GFLMLS
• 2024-01-26 Sold (MLS) $130,000 Beaches MLS
• 2024-01-19 Sold (Public Records) $130,000 Public Records
• 2023-11-02 Listed $139,000 Beaches MLS
• 2020-02-18 Sold (MLS) $54,750 Beaches MLS
• 2019-12-12 Pending — Beaches MLS
• 2019-11-12 Listed $55,900 Beaches MLS
• 1999-01-29 Sold (Public Records) $24,000 Public Records

Property tax history

+19.1%/yr

Latest (2025): $2,192 · -19.0% YoY. Source: county tax records.