145 Lake Nancy Ln #230 · West Palm Beach, FL 33411

$155,000

2 bd · 2.0 ba · 1,054 sqft · Condo public records · 48 Days on market

Built 1987

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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
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Cash flow +7.1/30.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0

Listing remarks

WELCOME TO OUR OPEN HOUSE THIS SATURDAY MAY 30TH FROM 1:30PM TO 3:30PM. SEE YOU THERE! Move-in ready 2BR/2BA residence in the desirable 55+ guard-gated community of Golden Lakes Village. Bright and inviting layout featuring abundant closet space and a washer and dryer inside the unit for added convenience. Enjoy an enclosed patio—perfect for relaxing in a peaceful setting. Resort-style amenities include pools, clubhouse, fitness center, and an active social lifestyle, all within a secure, well-maintained community. Ideally located ne

Key facts

• Washer and dryer
• Pools
• Enclosed patio

Tags

• GUARD-GATED COMMUNITY
• ENCLOSED PATIO
• ABUNDANT CLOSET SPACE
• WASHER AND DRYER
• RESORT-STYLE AMENITIES
• POOLS

Property features AI

Finance

• Financial info: Lease considered; Pets allowed with conditions; restrictions may apply
• HOA & community: Monthly association fee; Association includes amenities and cable TV; Community clubhouse; Community pool; Sauna; Transportation service

Exterior

• Parking: Assigned detached garage; 1 covered space; 1-car carport
• Security: On-site security guard
• Home design: Attached property; 2-story building; Entry on second level
• Construction: Block construction; Resale property
• Exterior features: Balcony; Screened balcony; Association pool; Canal-front waterfront; Has a view; Security guard

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Disposal; Trash compactor
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Second floor entry; Other interior features
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $-217 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.
• Cap rate 4.6% vs local median 3.8% in West Palm Beach — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Market conditions: Rents flat; 574 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 $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 48 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y 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 $68k; list at $155k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 35% 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 $150,350 (3.0% 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 48 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.27% ✓
• Cap rate: 4.61%
• Cash-on-cash: -6.00%
• DSCR: 0.73
• GRM: 6.6

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: 19.1%
• Equity multiple: 2.54×
• Total profit: $66,881
• Equity at exit: $139,636

10-year hold

• IRR: 17.0%
• Equity multiple: 5.63×
• Total profit: $200,996
• 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: 574
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,970 high
• Mortgage (P&I): −$813
• Tax from tax record: −$198 /mo · $2,378/yr
• Insurance: −$65
• HOA est. from 3 same-building comps: −$698
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $-217

Break-even live

Break-even rent $2,245

Max offer price $116,655

Occupancy floor —

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 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	20d	1	0.12mi
108 Lake Nancy Dr West Palm Beach, FL	2.0	2.0	967	$1,800	$1.86	24d	1	0.16mi
1153 Lake Victoria Dr Royal Palm Beach, FL	2.0	1.0	708	$1,725	$2.44	24d	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
221 Lake Meryl Dr West Palm Beach, FL	2.0	2.0	1000	$1,550	$1.55	24d	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
1455 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	15d	1	0.26mi
1525 Lake Crystal Dr Unit C West Palm Beach, FL	2.0	2.0	904	$1,800	$1.99	7d	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	17d	1	0.28mi
1215 N Benoist Farms Rd #203 West Palm Beach, FL	2.0	1.0	708	$1,750	$2.47	24d	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	999	$2,050	$2.05	3d	1	0.32mi
1133 Golden Lakes Blvd #813 West Palm Beach, FL	3.0	2.0	999	$2,050	$2.05	24d	1	0.32mi
1133 Golden Lakes Blvd #813 West Palm Beach, FL	3.0	2.0	1054	$1,950	$1.85	5d	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	24d	1	0.32mi
1500 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	24d	1	0.32mi
1500 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	7d	1	0.32mi
1547 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	900	$1,950	$2.17	24d	1	0.33mi
1547 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	14d	1	0.33mi
1421 Windorah Way Unit E West Palm Beach, FL	2.0	2.0	904	$1,975	$2.18	24d	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 #1011 West Palm Beach, FL	3.0	2.0	999	$2,100	$2.10	24d	1	0.34mi
1103 Golden Lakes Blvd #1013 West Palm Beach, FL	3.0	2.0	999	$2,000	$2.00	3d	1	0.34mi
959 Lake Terry Dr West Palm Beach, FL	3.0	2.0	900	$2,000	$2.22	24d	1	0.34mi
138 Lake Frances Dr West Palm Beach, FL	2.0	2.0	812	$1,845	$2.27	24d	1	0.35mi
1461 Windorah Way Unit E West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	7d	1	0.35mi
1540 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	18d	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	7d	1	0.37mi
1101 N Benoist Farms Rd #106 West Palm Beach, FL	2.0	1.0	708	$1,700	$2.40	24d	1	0.38mi
1566 Lake Crystal Dr West Palm Beach, FL	2.0	2.0	1200	$1,800	$1.50	24d	1	0.39mi
1566 Lake Crystal Dr West Palm Beach, FL	2.0	2.0	1200	$1,800	$1.50	18d	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
1600 Windorah Way Unit C West Palm Beach, FL	3.0	2.0	1156	$2,290	$1.98	17d	1	0.41mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-18
   days on market $155,000 Active 48 DOM
2. 2026-06-17
   days on market $155,000 Active 47 DOM
3. 2026-06-16
   days on market $155,000 Active 46 DOM
4. 2026-06-15
   days on market $155,000 Active 45 DOM
5. 2026-06-13
   days on market $155,000 Active 43 DOM
6. 2026-06-09
   days on market $155,000 Active 39 DOM
7. 2026-06-08
   days on market $155,000 Active 38 DOM
8. 2026-06-07
   days on market $155,000 Active 37 DOM
9. 2026-06-04
   days on market $155,000 Active 34 DOM
10. 2026-06-03
    days on market $155,000 Active 33 DOM
11. 2026-06-02
    days on market $155,000 Active 32 DOM
12. 2026-06-01
    days on market $155,000 Active 31 DOM
13. 2026-05-31
    days on market $155,000 Active 30 DOM
14. 2026-04-30
    listed $155,000 Active
15. 2026-04-27
    price $155,000
16. 2026-04-27
    status Active
17. 2026-04-27
    historical
18. 2026-04-27
    historical
19. 2025-09-12
    listed $168,500 Active
20. 2019-08-24
    historical
21. 2019-08-24
    listed $1,190 Active
22. 2018-07-26
    soldstatus $68,500
23. 2018-07-20
    soldstatus $68,500 Closed
24. 2018-06-28
    status Pending
25. 2018-06-09
    listed $72,500 Active
26. 2003-07-28
    soldstatus $60,000
27. 2003-07-18
    soldstatus $60,000
28. 2003-06-21
    historical
29. 2003-05-28
    listed $62,900
30. 1990-09-18
    soldstatus $48,000

ⓘ 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: $2,378 · $198/mo
• Projected year-2 tax: $2,378 · $198/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 · 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: $23,643
• − Mortgage interest: −$8,682
• − Property taxes: −$2,378
• − Insurance: −$775
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − HOA: −$8,376
• − Depreciation: −$4,509
• Taxable loss: −$4,860
• Est. tax savings @ 24.0%: +$1,166
• After-tax cash flow: $-1,438/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

+222.9% since first listed

17 events — show timeline

• 2026-04-30 Listed $155,000 MARMLS
• 2026-04-27 Price Changed $155,000 MARMLS
• 2026-04-27 Relisted — MARMLS
• 2026-04-27 Listing Removed — MARMLS
• 2026-04-27 Listing Removed — MARMLS
• 2025-09-12 Listed $168,500 MARMLS
• 2019-08-24 Listed $1,190 MARMLS
• 2019-08-24 Listing Removed — MARMLS
• 2018-07-26 Sold (Public Records) $68,500 Public Records
• 2018-07-20 Sold (MLS) $68,500 Beaches MLS
• 2018-06-28 Pending — Beaches MLS
• 2018-06-09 Listed $72,500 Beaches MLS
• 2003-07-28 Sold (Public Records) $60,000 Public Records
• 2003-07-18 Sold (MLS) $60,000 Beaches MLS
• 2003-06-21 Listing Removed — Beaches MLS
• 2003-05-28 Listed $62,900 Beaches MLS
• 1990-09-18 Sold (Public Records) $48,000 Public Records

Property tax history

+14.3%/yr

Latest (2025): $2,378 · +3.4% YoY. Source: county tax records.