1517 Lake Crystal Dr Unit E · West Palm Beach, FL 33411

$189,000

2 bd · 2.0 ba · 900 sqft · Condo public records · 60 Days on market

Built 1986 $488/mo HOA · 25% 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 +6.7/30.0
• 1% rule +5.3/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +1.0/10.0

Listing remarks MLS

2 bedroom condo now available in Palm Beach Grande! 2nd floor unit with washer and dryer. Granite counters in kitchen and bathroom. Tenant occupied until February so great for investor or owner occupant!

Key facts

• Tennis
• Large pool
• Lake view

Tags

• LAKE VIEW
• MODERN KITCHEN
• GRANITE COUNTERTOP
• STAINLESS STEEL APPLIANCES
• LARGE POOL
• TENNIS

Property features AI

Finance

• Financial info: Pets allowed (with number and size limits)
• HOA & community: Community pool; Clubhouse; Basketball court; Tennis courts; Community room; Manager on site; Maintained community with sidewalks and street lights; On-site management/maintenance; HOA fee collected monthly and includes water and sewer

Exterior

• Parking: Assigned and guest parking; 2 open parking spaces (1 total listed parking)
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; One level (single-story); Faces east; Resale condition; 2 total stories in building
• Construction: Stucco and CBS construction
• Exterior features: Waterfront; Tile roof

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating, central individual system; Central individual cooling and ceiling fans
• Interior features: Closet cabinetry; Blinds and sliding window features; Unfurnished
• Laundry & utility: In-unit laundry (inside the unit)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $189k.

Deal economics

• At list price, monthly cash flow is $-299 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $136k (27.9% below list).
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $136k (27.9% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $20k of equity ($1k loan paydown + $19k 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 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 17y 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 $128k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major 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 $136,202 (27.9% 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 60 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
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. 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. 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.03% ✓
• Cap rate: 4.40%
• Cash-on-cash: -6.78%
• DSCR: 0.70
• GRM: 8.1

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: 18.7%
• Equity multiple: 2.51×
• Total profit: $80,142
• Equity at exit: $170,266

10-year hold

• IRR: 16.8%
• Equity multiple: 5.61×
• Total profit: $244,050
• Equity at exit: $367,185

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 33411

• Home prices YoY: 1.9%
• Rents YoY: 0.8%
• Active inventory: 583
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,940 high
• Mortgage (P&I): −$991
• Tax from tax record: −$273 /mo · $3,282/yr
• Insurance: −$79
• HOA: −$488
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $-299

Break-even live

Break-even rent $2,318

Max offer price $136,202

Occupancy floor —

Sensitivity live

Price	-10% $-192	-5% $-245	+0% $-299	+5% $-352	+10% $-406
Rent	-10% $-452	-5% $-376	+0% $-299	+5% $-222	+10% $-146
Rate	-1.0pp $-204	-0.5pp $-251	base $-299	+0.5pp $-348	+1.0pp $-398

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1525 Lake Crystal Dr Unit C West Palm Beach, FL	2.0	2.0	904	$1,800	$1.99	9d	1	0.04mi
1455 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	16d	1	0.05mi
1455 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	15d	1	0.05mi
1465 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	4d	1	0.06mi
1453 Lake Crystal Dr Unit D West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	15d	1	0.06mi
1477 Lake Crystal Dr Unit D West Palm Beach, FL	2.0	2.0	928	$1,975	$2.13	18d	1	0.06mi
1545 Lake Crystal Dr Unit D West Palm Beach, FL	1.0	1.0	700	$1,675	$2.39	15d	1	0.10mi
1500 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	26d	1	0.11mi
1500 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	9d	1	0.11mi
1440 Lake Crystal Dr Unit B West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	1d	1	0.12mi
1547 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	15d	1	0.12mi
1547 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	900	$1,950	$2.17	26d	1	0.12mi
1542 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	24d	1	0.13mi
1542 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	26d	1	0.13mi
1540 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	20d	1	0.13mi
1440 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	6d	1	0.14mi
1461 Windorah Way Unit E West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	9d	1	0.17mi
1564 Lake Crystal Dr Unit F West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	18d	1	0.17mi
1421 Windorah Way Unit E West Palm Beach, FL	2.0	2.0	904	$1,975	$2.18	16d	1	0.18mi
1421 Windorah Way Unit E West Palm Beach, FL	2.0	2.0	904	$1,975	$2.18	26d	1	0.18mi
1660 Windorah Way Unit H West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	7d	1	0.18mi
1760 Windorah Way Unit H West Palm Beach, FL	2.0	1.0	904	$1,850	$2.05	26d	1	0.18mi
1700 Windorah Way Unit A West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	15d	1	0.19mi
1561 Windorah Way Unit A West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	15d	1	0.20mi
1581 Windorah Way Unit A West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	12d	1	0.20mi
1581 Windorah Way Unit A West Palm Beach, FL	2.0	2.0	904	$1,800	$1.99	24d	1	0.20mi
1153 Lake Victoria Dr Royal Palm Beach, FL	2.0	1.0	708	$1,725	$2.44	26d	1	0.25mi
1641 Balfour Point Dr Unit A West Palm Beach, FL	2.0	2.0	950	$1,899	$2.00	9d	1	0.27mi
1661 Balfour Point Dr Unit E West Palm Beach, FL	2.0	2.0	904	$2,000	$2.21	19d	1	0.28mi
1661 Balfour Point Dr Unit H West Palm Beach, FL	2.0	1.0	904	$1,850	$2.05	4d	1	0.28mi
1661 Balfour Point Dr Unit B West Palm Beach, FL	2.0	2.0	916	$1,950	$2.13	7d	1	0.28mi
1215 N Benoist Farms Rd #203 West Palm Beach, FL	2.0	1.0	708	$1,750	$2.47	26d	1	0.28mi
1701 Balfour Point Dr Unit G West Palm Beach, FL	2.0	2.0	916	$1,900	$2.07	15d	1	0.30mi
1681 Balfour Point Dr Unit A West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	7d	1	0.30mi
1681 Balfour Point Dr Unit F West Palm Beach, FL	2.0	2.0	916	$1,950	$2.13	26d	1	0.30mi
1139 Lake Terry Dr Unit A West Palm Beach, FL	3.0	2.0	918	$2,300	$2.51	22d	1	0.30mi
1203 N Benoist Farms Rd #107 West Palm Beach, FL	1.0	1.0	530	$1,480	$2.79	20d	1	0.32mi
1203 N Benoist Farms Rd #107 West Palm Beach, FL	1.0	1.0	530	$1,480	$2.79	26d	1	0.32mi
108 Lake Nancy Dr West Palm Beach, FL	2.0	2.0	967	$1,600	$1.65	0d	1	0.32mi
203 Lake Carol Dr West Palm Beach, FL	1.0	1.0	600	$1,500	$2.50	26d	1	0.32mi

HOA detail condo

• Monthly dues: $488 · $5,856/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-21
   days on market $189,000 Active 60 DOM
2. 2026-06-18
   days on market $189,000 Active 57 DOM
3. 2026-06-17
   days on market $189,000 Active 56 DOM
4. 2026-06-16
   days on market $189,000 Active 55 DOM
5. 2026-06-15
   days on market $189,000 Active 54 DOM
6. 2026-06-13
   days on market $189,000 Active 52 DOM
7. 2026-06-09
   days on market $189,000 Active 48 DOM
8. 2026-06-08
   days on market $189,000 Active 47 DOM
9. 2026-06-07
   days on market $189,000 Active 46 DOM
10. 2026-06-04
    days on market $189,000 Active 43 DOM
11. 2026-06-03
    days on market $189,000 Active 42 DOM
12. 2026-06-02
    days on market $189,000 Active 41 DOM
13. 2026-06-01
    days on market $189,000 Active 40 DOM
14. 2026-05-31
    days on market $189,000 Active 39 DOM
15. 2026-05-16
    price $189,000
16. 2026-04-22
    listed $195,000 Active
17. 2026-02-01
    historical $1,850
18. 2026-01-26
    listed $1,850
19. 2026-01-26
    historical $1,850
20. 2026-01-15
    listed $1,850
21. 2025-02-10
    historical $1,850
22. 2025-01-11
    listed $1,850
23. 2021-05-03
    soldstatus $128,000
24. 2021-04-21
    soldstatus $128,000 Closed 203-char remark

    Show marketing remark (203 chars)

    2 bedroom condo now available in Palm Beach Grande! 2nd floor unit with washer and dryer. Granite counters in kitchen and bathroom. Tenant occupied until February so great for investor or owner occupant!

25. 2021-01-22
    status Active Under Contract 203-char remark

    Show marketing remark (203 chars)

    2 bedroom condo now available in Palm Beach Grande! 2nd floor unit with washer and dryer. Granite counters in kitchen and bathroom. Tenant occupied until February so great for investor or owner occupant!

26. 2021-01-12
    historical 203-char remark

    Show marketing remark (203 chars)

    2 bedroom condo now available in Palm Beach Grande! 2nd floor unit with washer and dryer. Granite counters in kitchen and bathroom. Tenant occupied until February so great for investor or owner occupant!

27. 2021-01-04
    listed $128,000 Active 203-char remark

    Show marketing remark (203 chars)

    2 bedroom condo now available in Palm Beach Grande! 2nd floor unit with washer and dryer. Granite counters in kitchen and bathroom. Tenant occupied until February so great for investor or owner occupant!

28. 2009-04-14
    soldstatus $56,000 118-char remark

    Show marketing remark (118 chars)

    UPGRADED- GORGEOUS TILE FLOORS THROUGHOUT LIVING ROOM. GRANITE KTICHEN, STAINLESS APPLIANCES, THIS UNIT HAS LAKE VIEW.

29. 2009-03-14
    historical 118-char remark

    Show marketing remark (118 chars)

    UPGRADED- GORGEOUS TILE FLOORS THROUGHOUT LIVING ROOM. GRANITE KTICHEN, STAINLESS APPLIANCES, THIS UNIT HAS LAKE VIEW.

30. 2009-03-05
    listed $58,900 118-char remark

    Show marketing remark (118 chars)

    UPGRADED- GORGEOUS TILE FLOORS THROUGHOUT LIVING ROOM. GRANITE KTICHEN, STAINLESS APPLIANCES, THIS UNIT HAS LAKE VIEW.

ⓘ 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: $3,282 · $273/mo
• Projected year-2 tax: $3,282 · $273/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 6/10 Major
• 🌡 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,278
• − Mortgage interest: −$10,587
• − Property taxes: −$3,282
• − Insurance: −$945
• − Repairs & maintenance: −$1,862
• − Management: −$1,862
• − HOA: −$5,856
• − Depreciation: −$5,498
• Taxable loss: −$6,614
• Est. tax savings @ 24.0%: +$1,587
• After-tax cash flow: $-1,999/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

+220.9% since first listed

16 events — show timeline

• 2026-05-16 Price Changed $189,000 Beaches MLS
• 2026-04-22 Listed $195,000 Beaches MLS
• 2026-02-01 Rental Removed $1,850 GFLMLS
• 2026-01-26 Listed for Rent $1,850 GFLMLS
• 2026-01-26 Rental Removed $1,850 RMLSFL
• 2026-01-15 Listed for Rent $1,850 RMLSFL
• 2025-02-10 Rental Removed $1,850 GFLMLS
• 2025-01-11 Listed for Rent $1,850 GFLMLS
• 2021-05-03 Sold (Public Records) $128,000 Public Records
• 2021-04-21 Sold (MLS) $128,000 Beaches MLS
• 2021-01-22 Relisted — Beaches MLS
• 2021-01-12 Listing Removed — Beaches MLS
• 2021-01-04 Listed $128,000 Beaches MLS
• 2009-04-14 Sold (MLS) $56,000 Beaches MLS
• 2009-03-14 Listing Removed — Beaches MLS
• 2009-03-05 Listed $58,900 Beaches MLS

Property tax history

+10.1%/yr

Latest (2025): $3,282 · +3.1% YoY. Source: county tax records.