3240 Lake Osborne Dr Apt 104 · Lake Worth Beach, FL 33461

$89,900

1 bd · 1.0 ba · 828 sqft · Condo public records · 21 Days on market

Built 1977 $602/mo HOA · 38% of rent

---

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 +20.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• Schools +4.3/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

You will LOVE this central location in Palm Beach County. 3.5 miles to beach. Coveted King size 1 bedrm unit on 1st floor next to lake! New impact windows, new AC (Dec 2025), upgraded bathroom w/ walk-in shower, hi-end luxury vinyl wood flooring, Vintage Florida bamboo furniture throughout. Across from 750-acre John Prince park w/ 350-acre Lake Osborne, biking trails, golf driving range, etc. 1 minute to Tri-Rail station. 2 min to 95 freeway. 5 min to cute dwntwn Lake Worth Beach. 8 minutes to beach/ocean. 15 min to both downtown WPB & Delray Beach w/ their many restaurants & shopping. Just feet from recreation bldg w/ pool, gyms, pickleball/shuffleboard/bocce ball courts, billi

Key facts

• Upgraded bathroom
• Walk-in shower
• New impact windows

Tags

• VIEWS OF LAKE
• NEW IMPACT WINDOWS
• NEW AC
• UPGRADED BATHROOM
• WALK-IN SHOWER
• LUXURY VINYL WOOD FLOORING

Property features AI

Finance

• Other: Senior community; Pets not allowed in this community; Community contains 518 units
• Financial info: Not a land lease community
• HOA & community: Murry Hills Association Inc; Monthly HOA includes cable TV, internet, grounds maintenance, pest control, security, common areas, common real estate tax, reserve funds, roof repairs, recreation facilities, and pool service; Community amenities: heated pool, pool, fitness center, billiard room, game room, laundry, management, picnic area, car wash area, shuffleboard court, workshop area, on-site manager, bike storage, bocce ball, hobby room, internet included, library, maintained community, pickleball courts, putting green, security, recreation facilities, parking

Exterior

• Parking: Assigned deeded parking; Asphalt parking; Guest parking; Permit-required parking; One open parking space
• Security: Closed-circuit cameras; Owned security system
• Utilities: Public water; Public sewer; 100 amp electric service with circuit breakers; Cable connected; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; One-level living; Entry at front door (entry level 1); Faces south; Updated/remodeled condition
• Construction: Concrete block with stucco (CBS) construction; Concrete and stucco materials; Second/third floor concrete; Built-up, flat, mansard, rolled/hot mop and shingle roof options; Permanent slab foundation
• Exterior features: Screened porch; Porch; Glass-enclosed porch; Landscaped grounds; Irregular-shaped lot; Lake access (not waterfront)

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: One bedroom on the main level
• Flooring: Carpet; Ceramic tile; Vinyl
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central electric heating (individual); Central air conditioning (individual); Ceiling fans
• Interior features: Partially furnished; Blinds; Double-pane windows; Storm windows; Tinted windows; Sliding windows
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: Barton Elementary School (math 25% / reading 20%, grade F, #2,073 of 2,144 statewide, top 97%, 1,064 students, 80% FRL); Lake Worth Community Middle (math 17% / reading 23%, grade F, #558 of 571 statewide, top 98%, 1,249 students, 75% FRL); Lake Worth High School (math 16% / reading 27%, grade F, #546 of 667 statewide, top 82%, 2,683 students, 71% FRL) — zoned schools average 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 21% at this address vs 50% district-wide (-28 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 soft (-2.5%/yr); 274 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); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 31% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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 21 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $90k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.78% ✓
• Cap rate: 7.92%
• Cash-on-cash: 5.80%
• DSCR: 1.26
• GRM: 4.7

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: -12.9%
• Equity multiple: 0.56×
• Total profit: $-11,165
• Equity at exit: $13,404

10-year hold

• IRR: -15.2%
• Equity multiple: 0.35×
• Total profit: $-16,466
• Equity at exit: $7,773

Cash invested: $25,172 (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 33461

• Rents YoY: -2.5%
• Active inventory: 274
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,600 high
• Mortgage (P&I): −$471
• Tax from tax record: −$31 /mo · $373/yr
• Insurance: −$37
• HOA: −$602
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $122

Break-even live

Break-even rent $1,446

Max offer price $89,900

Occupancy floor 87%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3000 Lake Osborne Dr #107 Lake Worth Beach, FL	1.0	1.0	612	$1,350	$2.21	24d	1	0.14mi
3322 Cynthia Ln #207 Lake Worth, FL	1.0	1.0	612	$1,400	$2.29	1d	1	0.14mi
2960 Lake Osborne Dr #209 Lake Worth Beach, FL	1.0	1.0	612	$1,395	$2.28	13d	1	0.15mi
2920 Cynthia Ln #203 Lake Worth, FL	1.0	1.0	734	$1,350	$1.84	1d	1	0.15mi
2920 Cynthia Ln #203 Lake Worth, FL	1.0	1.0	734	$1,400	$1.91	16d	1	0.15mi
3362 Cynthia Ln Lake Worth Beach, FL	1.0	1.0	612	$2,388	$3.90	21d	2	0.16mi
2960 Lake Osborne Dr Lake Worth Beach, FL	1.0	1.0	612	$1,342	$2.19	24d	2	0.16mi
2840 Cynthia Ln #203 Lake Worth, FL	1.0	1.0	720	$1,220	$1.69	12d	1	0.17mi
2880 Lake Osborne Dr #209 Lake Worth Beach, FL	1.0	1.0	612	$1,150	$1.88	7d	1	0.20mi
2880 Lake Osborne Dr #209 Lake Worth Beach, FL	1.0	1.0	612	$1,299	$2.12	16d	1	0.20mi
2840 Lake Osborne Dr Lake Worth Beach, FL	2.0	1.0–2.0	819	$1,338	$1.63	16d	2	0.22mi
644 S Ridge St Lake Worth Beach, FL	2.0	1.0	1000	$2,500	$2.50	24d	1	0.54mi
1980 Sunset Ave #12 Lake Worth Beach, FL	1.0	1.0	773	$1,500	$1.94	1d	1	0.57mi
2020 Lake Osborne Dr #11 Lake Worth Beach, FL	2.0	2.0	894	$1,850	$2.07	24d	1	0.60mi
1420 Barton Rd Unit 1420w Lake Worth Beach, FL	2.0	1.0	990	$2,000	$2.02	10d	1	0.67mi
717 S B St Unit 715 Lake Worth Beach, FL	2.0	1.0	561	$2,295	$4.09	24d	1	0.69mi
1029 S D St Apt 2 Lake Worth Beach, FL	1.0	1.0	560	$1,675	$2.99	24d	1	0.74mi
1029 S D St Lake Worth Beach, FL	1.0	1.0	550	$1,715	$3.12	24d	1	0.75mi
911 S D St Lake Worth Beach, FL	2.0	2.0	1023	$2,300	$2.25	18d	1	0.76mi
606 S C St #103 Lake Worth Beach, FL	1.0	1.0	608	$1,500	$2.47	15d	1	0.82mi
2566 South Dr Unit 306 Lake Worth Beach, FL	1.0	1.0	744	$1,850	$2.49	7d	1	0.83mi
2640 South Dr Unit 301 Lake Worth Beach, FL	2.0	1.0	894	$1,500	$1.68	14d	1	0.83mi
2640 South Dr Unit 301 Lake Worth Beach, FL	2.0	1.0	894	$1,500	$1.68	18d	1	0.83mi
136 Akron St Apt B2 Lake Worth Beach, FL	1.0	1.0	599	$2,175	$3.63	24d	1	0.88mi
136 Akron St Unit A1 Lake Worth Beach, FL	1.0	1.0	599	$2,075	$3.46	24d	1	0.88mi
123 Erie St Apt 10 Lake Worth, FL	1.0	1.0	600	$1,325	$2.21	24d	1	0.91mi
835 Andrew Redding Rd #1 Lantana, FL	2.0	2.0	875	$2,800	$3.20	24d	1	0.93mi
517 S F St Unit 1 Lake Worth Beach, FL	1.0	1.0	700	$1,750	$2.50	10d	1	0.97mi
4611 S Congress Ave Palm Springs, FL	1.0	1.0	601	$1,399	$2.33	3d	6	1.01mi
2220 Lake Worth Rd Lake Worth, FL	1.0	1.0	700	$1,779	$2.54	21d	1	1.03mi
3195 Mcsherry Dr Unit 3195 Lake Worth Beach, FL	2.0	1.0	944	$2,300	$2.44	16d	1	1.10mi
2571 Lake Worth Rd Lake Worth, FL	1.0–2.0	1.0–2.0	750	$1,378	$1.84	1d	2	1.14mi
1101 S K St Unit 16 Lake Worth Beach, FL	1.0	1.0	600	$1,550	$2.58	24d	1	1.14mi
12 N B St Lake Worth Beach, FL	1.0	1.0	800	$1,700	$2.12	13d	1	1.15mi
1409 Lake Ave Lake Worth Beach, FL	2.0	2.0	799	$1,800	$2.25	17d	1	1.16mi
1741 3rd Ave N #6 Lake Worth Beach, FL	2.0	2.0	775	$1,550	$2.00	18d	1	1.21mi
1001 Water Tower Way Hypoluxo, FL	1.0–3.0	1.0–2.0	981	$1,934	$1.97	2d	25	1.21mi
1001 Water Tower Way Hypoluxo, FL	1.0–3.0	1.0–2.0	981	$1,897	$1.93	24d	25	1.21mi
905 S L St Lake Worth Beach, FL	2.0	1.0	893	$3,300	$3.70	2d	1	1.22mi
900 Water Tower Way Lantana, FL	1.0–2.0	1.0–2.0	1176	$2,076	$1.77	3d	20	1.22mi

HOA detail condo

• Monthly dues: $602 · $7,224/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $89,900 Active 21 DOM
2. 2026-06-17
   days on market $89,900 Active 20 DOM
3. 2026-06-16
   days on market $89,900 Active 19 DOM
4. 2026-06-15
   days on market $89,900 Active 18 DOM
5. 2026-06-13
   pricedays on market $89,900 Active 16 DOM
6. 2026-06-09
   days on market $95,000 Active 12 DOM
7. 2026-06-08
   days on market $95,000 Active 11 DOM
8. 2026-06-07
   days on market $95,000 Active 10 DOM
9. 2026-06-04
   days on market $95,000 Active 7 DOM
10. 2026-06-03
    days on market $95,000 Active 6 DOM
11. 2026-06-02
    days on market $95,000 Active 5 DOM
12. 2026-06-01
    days on market $95,000 Active 4 DOM
13. 2026-05-31
    days on market $95,000 Active 3 DOM
14. 2026-05-28
    listed $95,000 Active
15. 2010-05-04
    soldstatus $45,000
16. 2010-02-20
    historical
17. 2009-10-20
    listed $48,500
18. 1998-02-02
    soldstatus $30,000
19. 1990-11-19
    soldstatus $38,000

ⓘ 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: $373 · $31/mo
• Projected year-2 tax: $746 · $62/mo
• Expected delta: +$373/yr (+$31/mo · 99.8%)

ⓘ 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 10/10 Extreme 7 d/yr ≥105°F today · 28 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: $19,195
• − Mortgage interest: −$5,036
• − Property taxes: −$373
• − Insurance: −$450
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − HOA: −$7,224
• − Depreciation: −$2,615
• Taxable income: $425
• Est. tax owed @ 24.0%: −$102
• 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 — Lake Worth Beach

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Lake Worth Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 129,577
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 49,443
• Household income: $61,963
• Rent vs Own: 48.2% rent · 51.8% own
• Severe rent burden: 2663.0

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: Hispanic / Latino 59% Two or more races 26% White 20% Black 17% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 6% Cuban 16% Dominican 2%
• Common ancestry: Hispanic 9% Romanian 1% Lithuanian 1%
• Foreign-born: 52% · Canada, Jamaica
• Languages at home: 31% English-only · Spanish 54% French/Haitian/Cajun 10% 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: ▼ -269.03%
• Current HPI: 493.0041
• Rent YoY: ▼ -2.47%
• 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

+150.0% since first listed

6 events — show timeline

• 2026-05-28 Listed $95,000 Beaches MLS
• 2010-05-04 Sold (Public Records) $45,000 Public Records
• 2010-02-20 Listing Removed — Beaches MLS
• 2009-10-20 Listed $48,500 Beaches MLS
• 1998-02-02 Sold (Public Records) $30,000 Public Records
• 1990-11-19 Sold (Public Records) $38,000 Public Records

Property tax history

-6.5%/yr

Latest (2025): $373 · +7.5% YoY. Source: county tax records.