1501 Crescent Cir Unit E45 · Lake Park, FL 33403

$189,000

3 bd · 2.0 ba · 1,190 sqft · Condo public records · 39 Days on market

Built 1967 $907/mo HOA · 24% of rent

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Rent growth +4.0/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A MUST SEE! Beautifully renovated 3-bedroom, 2-bath corner condo conveniently located just minutes from I-95, the Turnpike, shopping, dining, and the beaches. This bright and spacious unit features completely remodeled bathrooms, gorgeous new flooring throughout, and fresh interior paint. Move-in ready with plenty of natural light and a desirable corner location. Perfect for homeowners or investors alike!

Key facts

• Corner location
• Renovated bathrooms
• New flooring

Tags

• RENOVATED BATHROOMS
• NEW FLOORING
• FRESH INTERIOR PAINT
• CORNER LOCATION

Property features AI

Finance

• Financial info: Pets allowed (breed restrictions and possible pet restrictions)
• HOA & community: Monthly HOA fee of $907; HOA includes insurance, trash, and water; Association present; No listed association amenities

Exterior

• Parking: Assigned parking; Guest parking; 1 parking space
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electricity available; Cable available; Sewer connected; Water available
• Home design: Condominium; 2 stories; East-facing
• Construction: CBS construction; Shingle roof; Built as resale property
• Exterior features: Not waterfront

Interior

• Kitchen: Disposal; Dishwasher; Microwave; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Split bedroom layout; Closet cabinetry; Unfurnished

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $189k.

Deal economics

• At list price, monthly cash flow is $730 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $189k).
• Recommended offer: $183k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#542 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: crime F, 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: Howell L. Watkins Middle School (math 18% / reading 33%, grade F, #512 of 571 statewide, top 90%, 794 students, 76% FRL); Palm Beach Gardens High School (math 19% / reading 40%, grade F, #447 of 667 statewide, top 68%, 2,570 students, 61% FRL) — zoned schools average 69% FRL vs 52% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 50% district-wide (-22 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 (+6.0%/yr); 134 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 + 6.0% rent growth), your $53k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 20y ago; this cycle's ask is 8135% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $98k; list at $189k implies a 93% gain — meaningful room to come down on a strong offer.

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 $183,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.03% ✓
• Cap rate: 10.93%
• Cash-on-cash: 16.56%
• DSCR: 1.74
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.97% rent growth · sell at horizon

5-year hold

• IRR: 12.8%
• Equity multiple: 1.54×
• Total profit: $28,343
• Equity at exit: $28,181

10-year hold

• IRR: 24.8%
• Equity multiple: 3.62×
• Total profit: $138,686
• Equity at exit: $16,341

Cash invested: $52,920 (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 33403

• Home prices YoY: -19.6%
• Rents YoY: 6.0%
• Active inventory: 134
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $3,830 high
• Mortgage (P&I): −$991
• Tax from tax record: −$318 /mo · $3,821/yr
• Insurance: −$79
• HOA: −$907
• Vacancy / Maint / Mgmt: −$804
• Net cashflow: $730

Break-even live

Break-even rent $2,905

Max offer price $189,000

Occupancy floor 76%

Sensitivity live

Price	-10% $837	-5% $784	+0% $730	+5% $677	+10% $623
Rent	-10% $428	-5% $579	+0% $730	+5% $882	+10% $1,033
Rate	-1.0pp $826	-0.5pp $778	base $730	+0.5pp $681	+1.0pp $632

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 Hawthorne Dr West Palm Beach, FL	3.0	2.0	1402	$3,200	$2.28	25d	1	0.40mi
308 Southwind Ct Unit 8 North Palm Beach, FL	2.0	2.0	1100	$2,900	$2.64	25d	1	0.40mi
522 Eastwind Dr North Palm Beach, FL	2.0	2.0	948	$3,995	$4.21	25d	1	0.42mi
526 Eastwind Dr Unit 526 North Palm Beach, FL	2.0	1.0	840	$3,995	$4.76	25d	1	0.42mi
524 Eastwind Dr Unit 524 North Palm Beach, FL	2.0	1.0	774	$3,995	$5.16	25d	1	0.42mi
549 Fairwind Dr North Palm Beach, FL	3.0	2.0	1498	$5,000	$3.34	25d	1	0.46mi
913 Lake Shore Dr Lake Park, FL	1.0–2.0	1.0–2.0	1066	$3,731	$3.50	0d	10	0.52mi
624 Southwind Cir #2 North Palm Beach, FL	2.0	2.0	718	$3,750	$5.22	25d	1	0.54mi
624 Southwind Cir Unit 3 North Palm Beach, FL	3.0	3.0	1316	$5,500	$4.18	25d	1	0.54mi
624 Southwind Cir Apt 4 North Palm Beach, FL	3.0	2.0	1134	$4,750	$4.19	25d	1	0.54mi
1155 Lake Shore Dr #202 West Palm Beach, FL	2.0	2.0	1206	$4,750	$3.94	25d	1	0.55mi
1060 Lake Shore Dr #201 West Palm Beach, FL	2.0	2.0	1206	$3,850	$3.19	20d	1	0.57mi
429 Inlet Rd North Palm Beach, FL	3.0	2.5	1452	$6,500	$4.48	25d	1	0.70mi
301 Lake Shore Dr #802 West Palm Beach, FL	2.0	2.0	1316	$3,000	$2.28	25d	1	0.85mi
220 Lake Shore Dr Lake Park, FL	1.0–3.0	1.5–3.5	2134	$25,000	$11.72	0d	19	0.91mi
855 Date Palm Dr West Palm Beach, FL	3.0	3.0	1216	$3,150	$2.59	25d	1	0.92mi
2545 Conroy Dr West Palm Beach, FL	3.0	2.0	1066	$3,295	$3.09	25d	1	0.97mi
815 Silver Beach Rd Lake Park, FL	4.0	3.0	1480	$3,000	$2.03	25d	1	1.04mi
901 W 37th St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	25d	1	1.10mi
913 Lighthouse Dr North Palm Beach, FL	3.0	2.5	1092	$5,900	$5.40	25d	1	1.31mi
908 Lighthouse Dr North Palm Beach, FL	3.0	2.0	1478	$4,250	$2.88	25d	1	1.33mi
520 W 28th St Riviera Beach, FL	3.0	1.0	1296	$6,000	$4.63	4d	1	1.42mi
60 Yacht Club Dr #405 North Palm Beach, FL	2.0	2.0	1423	$3,100	$2.18	20d	1	1.46mi
410 Wilma Cir #103 Riviera Beach, FL	2.0	2.0	1056	$4,000	$3.79	16d	1	1.46mi

HOA detail condo

• Monthly dues: $907 · $10,884/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-21
   days on market $189,000 Active 39 DOM
2. 2026-06-18
   days on market $189,000 Active 36 DOM
3. 2026-06-17
   days on market $189,000 Active 35 DOM
4. 2026-06-16
   days on market $189,000 Active 34 DOM
5. 2026-06-15
   remarks 408-char remark
6. 2026-06-15
   listed $189,000 Active 33 DOM

ⓘ 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: $3,821 · $318/mo
• Projected year-2 tax: $3,821 · $318/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 2/10 Low
• 🌡 Heat 10/10 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,959
• − Mortgage interest: −$10,587
• − Property taxes: −$3,821
• − Insurance: −$945
• − Repairs & maintenance: −$3,677
• − Management: −$3,677
• − HOA: −$10,884
• − Depreciation: −$5,498
• Taxable income: $6,871
• Est. tax owed @ 24.0%: −$1,649
• After-tax cash flow: $7,115/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 — Lake Park

• Score: 67/100
• State rank: #542
• US rank: #10167

Category grades

Amenities F Commute F Cost of living A- 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: Lake Park, FL
• County: Palm Beach County · 1,438,312 people
• City population: 14,370
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 14,370
• Household income: $70,646
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 903.0

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 0.67)
• Race & ethnicity: Black 46% White 31% Hispanic / Latino 17% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 5%
• Common ancestry: Hispanic 15% Italian 2% Romanian 1%
• Foreign-born: 26% · Canada, China, Jamaica
• Languages at home: 69% English-only · French/Haitian/Cajun 17% Spanish 12% Chinese 1%

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: ▼ -112.30%
• Current HPI: 461.4045
• Rent YoY: ▲ 5.97%
• 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

-98.7% since first listed

24 events — show timeline

• 2026-06-16 Listed for Rent $2,295 RMLSFL
• 2026-05-13 Listed $189,000 Beaches MLS
• 2025-03-06 Listing Removed — Beaches MLS
• 2025-02-10 Rental Removed $2,195 GFLMLS
• 2025-02-03 Relisted — Beaches MLS
• 2025-01-24 Listed for Rent $2,195 GFLMLS
• 2024-11-04 Rental Removed $2,195 RMLSFL
• 2024-11-04 Rental Removed $2,195 GFLMLS
• 2024-10-17 Price Changed $2,195 GFLMLS
• 2024-10-17 Listed for Rent $2,395 RMLSFL
• 2024-09-25 Listing Removed — Beaches MLS
• 2024-09-25 Listed for Rent $2,395 GFLMLS
• 2024-07-04 Price Changed $235,000 Beaches MLS
• 2024-05-24 Listed $199,900 Beaches MLS
• 2019-07-31 Listing Removed — Beaches MLS
• 2019-07-10 Price Changed $145,000 Beaches MLS
• 2019-06-14 Listed $149,000 Beaches MLS
• 2019-05-10 Sold (MLS) $98,000 Beaches MLS
• 2019-04-08 Pending — Beaches MLS
• 2019-03-11 Listing Removed — Beaches MLS
• 2019-03-11 Listed $108,900 Beaches MLS
• 2019-02-15 Listed $108,900 Beaches MLS
• 2006-12-08 Listing Removed — Beaches MLS
• 2006-02-28 Listed $179,999 Beaches MLS

Property tax history

+11.2%/yr

Latest (2025): $3,821 · +7.8% YoY. Source: county tax records.