145 Lake Nancy Ln #125 · West Palm Beach, FL 33411

$99,900

2 bd · 2.0 ba · 1,135 sqft · Condo public records · 1 Days on market

Built 1987 $799/mo HOA · 41% 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 +20.2/30.0
• 1% rule +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Large corner 2/2 unit with formal dining area. All tile floors except master bedroom. Lg eat-in kitchen. Short walk to satellite pool or Phase B Clubhouse. One small Pet OK. Unit needs some updating. Active 55+ community with full time social director. Courtesy Bus 2 days a wk to grocery, malls, shops etc. 24/7 guard gated.

Key facts

• $799 HOA
• Parking
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $127 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).

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; 574 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $11k of equity ($691 loan paydown + $10k 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.
• At projected returns (10.0% appreciation + 0.8% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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 $51k; list at $100k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 41% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.97% ✓
• Cap rate: 7.81%
• Cash-on-cash: 5.44%
• DSCR: 1.24
• GRM: 4.2

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: 26.8%
• Equity multiple: 3.10×
• Total profit: $58,798
• Equity at exit: $89,998

10-year hold

• IRR: 22.5%
• Equity multiple: 6.72×
• Total profit: $160,036
• Equity at exit: $194,084

Cash invested: $27,972 (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: 574
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,965 high
• Mortgage (P&I): −$524
• Tax from tax record: −$61 /mo · $736/yr
• Insurance: −$42
• HOA: −$799
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $127

Break-even live

Break-even rent $1,805

Max offer price $99,900

Occupancy floor 89%

Sensitivity live

Price	-10% $183	-5% $155	+0% $127	+5% $98	+10% $70
Rent	-10% $-29	-5% $49	+0% $127	+5% $204	+10% $282
Rate	-1.0pp $177	-0.5pp $152	base $127	+0.5pp $101	+1.0pp $74

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 Lake Nancy Dr #241 West Palm Beach, FL	2.0	2.0	1193	$1,900	$1.59	11d	1	0.11mi
1139 Lake Terry Dr Unit A West Palm Beach, FL	3.0	2.0	918	$2,300	$2.51	21d	1	0.12mi
108 Lake Nancy Dr West Palm Beach, FL	2.0	2.0	967	$1,800	$1.86	25d	1	0.16mi
1153 Lake Victoria Dr Royal Palm Beach, FL	2.0	1.0	708	$1,725	$2.44	25d	1	0.17mi
1477 Lake Crystal Dr Unit D West Palm Beach, FL	2.0	2.0	928	$1,975	$2.13	17d	1	0.18mi
1465 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	2d	1	0.21mi
1440 Lake Crystal Dr Unit B West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	0d	1	0.25mi
221 Lake Meryl Dr West Palm Beach, FL	2.0	2.0	1000	$1,550	$1.55	25d	1	0.26mi
1455 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	15d	1	0.26mi
1455 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	14d	1	0.26mi
1525 Lake Crystal Dr Unit C West Palm Beach, FL	2.0	2.0	904	$1,800	$1.99	8d	1	0.27mi
1453 Lake Crystal Dr Unit D West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	14d	1	0.27mi
1020 Lake Victoria Dr Unit B West Palm Beach, FL	3.0	2.0	922	$2,200	$2.39	18d	1	0.28mi
1215 N Benoist Farms Rd #203 West Palm Beach, FL	2.0	1.0	708	$1,750	$2.47	25d	1	0.29mi
1440 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	4d	1	0.30mi
1545 Lake Crystal Dr Unit D West Palm Beach, FL	1.0	1.0	700	$1,675	$2.39	14d	1	0.31mi
1133 Golden Lakes Blvd #813 West Palm Beach, FL	3.0	2.0	1054	$2,000	$1.90	0d	1	0.32mi
1133 Golden Lakes Blvd #813 West Palm Beach, FL	3.0	2.0	999	$2,050	$2.05	25d	1	0.32mi
1133 Golden Lakes Blvd #813 West Palm Beach, FL	3.0	2.0	999	$2,050	$2.05	3d	1	0.32mi
1542 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	22d	1	0.32mi
1542 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	25d	1	0.32mi
1500 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	8d	1	0.32mi
1500 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	25d	1	0.32mi
1547 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	14d	1	0.33mi
1547 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	900	$1,950	$2.17	25d	1	0.33mi
1421 Windorah Way Unit E West Palm Beach, FL	2.0	2.0	904	$1,975	$2.18	25d	1	0.33mi
1421 Windorah Way Unit E West Palm Beach, FL	2.0	2.0	904	$1,975	$2.18	15d	1	0.33mi
1103 Golden Lakes Blvd #1013 West Palm Beach, FL	3.0	2.0	999	$2,000	$2.00	3d	1	0.34mi
1103 Golden Lakes Blvd #1011 West Palm Beach, FL	3.0	2.0	999	$2,100	$2.10	25d	1	0.34mi
959 Lake Terry Dr West Palm Beach, FL	3.0	2.0	900	$2,000	$2.22	25d	1	0.34mi
138 Lake Frances Dr West Palm Beach, FL	2.0	2.0	812	$1,845	$2.27	25d	1	0.35mi
1461 Windorah Way Unit E West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	8d	1	0.35mi
1540 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	19d	1	0.35mi
1063 Golden Lakes Blvd #322 West Palm Beach, FL	3.0	2.0	999	$2,000	$2.00	14d	1	0.36mi
1564 Lake Crystal Dr Unit F West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	17d	1	0.37mi
161 Lake Frances Dr Unit 161 West Palm Beach, FL	1.0	1.5	704	$1,430	$2.03	8d	1	0.37mi
1101 N Benoist Farms Rd #106 West Palm Beach, FL	2.0	1.0	708	$1,700	$2.40	25d	1	0.38mi
1566 Lake Crystal Dr West Palm Beach, FL	2.0	2.0	1200	$1,800	$1.50	25d	1	0.39mi
1566 Lake Crystal Dr West Palm Beach, FL	2.0	2.0	1200	$1,800	$1.50	19d	1	0.39mi
1080 N Benoist Farms Rd #204 West Palm Beach, FL	2.0	1.0	708	$1,500	$2.12	17d	1	0.40mi

HOA detail condo

• Monthly dues: $799 · $9,588/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-04-01
   status Pending
2. 2026-03-29
   listed $99,900 Active
3. 2014-10-29
   soldstatus $51,000
4. 2014-10-27
   historical 329-char remark

   Show marketing remark (329 chars)

   Large corner 2/2 unit with formal dining area. All tile floors except master bedroom. Lg eat-in kitchen. Short walk to satellite pool or Phase B Clubhouse. One small Pet OK. Unit needs some updating. Active 55+ community with full time social director. Courtesy Bus 2 days a wk to grocery, malls, shops etc. 24/7 guard gated.

5. 2014-10-24
   soldstatus $51,000 Closed 329-char remark

   Show marketing remark (329 chars)

   Large corner 2/2 unit with formal dining area. All tile floors except master bedroom. Lg eat-in kitchen. Short walk to satellite pool or Phase B Clubhouse. One small Pet OK. Unit needs some updating. Active 55+ community with full time social director. Courtesy Bus 2 days a wk to grocery, malls, shops etc. 24/7 guard gated.

6. 2014-09-24
   status Pending 329-char remark

   Show marketing remark (329 chars)

   Large corner 2/2 unit with formal dining area. All tile floors except master bedroom. Lg eat-in kitchen. Short walk to satellite pool or Phase B Clubhouse. One small Pet OK. Unit needs some updating. Active 55+ community with full time social director. Courtesy Bus 2 days a wk to grocery, malls, shops etc. 24/7 guard gated.

7. 2014-09-22
   listed $54,900 Active 329-char remark

   Show marketing remark (329 chars)

   Large corner 2/2 unit with formal dining area. All tile floors except master bedroom. Lg eat-in kitchen. Short walk to satellite pool or Phase B Clubhouse. One small Pet OK. Unit needs some updating. Active 55+ community with full time social director. Courtesy Bus 2 days a wk to grocery, malls, shops etc. 24/7 guard gated.

ⓘ 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: $736 · $61/mo
• Projected year-2 tax: $829 · $69/mo
• Expected delta: +$94/yr (+$8/mo · 12.7%)

ⓘ 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 · 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: $23,583
• − Mortgage interest: −$5,596
• − Property taxes: −$736
• − Insurance: −$500
• − Repairs & maintenance: −$1,887
• − Management: −$1,887
• − HOA: −$9,588
• − Depreciation: −$2,906
• Taxable income: $484
• Est. tax owed @ 24.0%: −$116
• After-tax cash flow: $1,404/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: 75,299
• 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

+82.0% since first listed

7 events — show timeline

• 2026-04-01 Pending — Beaches MLS
• 2026-03-29 Listed $99,900 Beaches MLS
• 2014-10-29 Sold (Public Records) $51,000 Public Records
• 2014-10-27 Listing Removed — Beaches MLS
• 2014-10-24 Sold (MLS) $51,000 Beaches MLS
• 2014-09-24 Pending — Beaches MLS
• 2014-09-22 Listed $54,900 Beaches MLS

Property tax history

+4.2%/yr

Latest (2025): $736 · +2.9% YoY. Source: county tax records.