118 Lake Constance Dr · West Palm Beach, FL 33411

$125,000

1 bd · 1.5 ba · 753 sqft · Condo public records · 34 Days on market

Built 1980 $611/mo HOA · 35% of rent

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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).

• Appreciation +10.0/10.0
• Cash flow +9.7/30.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• DSCR +2.7/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

* * SELLER IS MOTIVATED * * * * OPEN TO ALL OFFERS * * This residence is completely renovated in 2024, features laminate and vinyl flooring, a spacious walk-in closet, and a kitchen equipped with stainless steel appliances. Enjoy serene lake and canal views from the private covered balcony. The unit is protected by impact glass storm windows. It is located within a secure, manned-gate community. This pet-friendly dwelling is part of a verified 55+ community (HOPA) and offers access to premium amenities, including a clubhouse, pool, sauna, tennis courts, and a courtesy bus. The monthly fee covers basic cable, water, sewer, trash, and exterior maintenance. No washer and Dryer in the

Key facts

• Lake views
• Walk-in closet
• Canal views

Tags

• WALK-IN CLOSET
• STAINLESS STEEL APPLIANCES
• LAKE VIEWS
• CANAL VIEWS
• PRIVATE COVERED BALCONY
• IMPACT GLASS STORM WINDOWS

Property features AI

Finance

• Other: Pets allowed with restrictions (cats and dogs OK; breed, number and size limits and other restrictions may apply)
• HOA & community: Association-managed community; Monthly HOA fee; Association amenities include: clubhouse, pool, spa/hot tub, sauna, tennis courts, shuffleboard, billiard and game rooms, library, management/manager on site, courtesy bus, sidewalks, gated access, laundry, and recreation facilities; HOA covers cable TV, insurance, grounds maintenance, security, sewer, trash, water, common areas, and recreation facilities; Community contains a large number of units (community size: 1,888); Senior community

Exterior

• Parking: Assigned parking; Common parking; Guest parking; One parking space
• Security: Gated community with guard; Security patrol; Smoke detectors
• Utilities: Public water; Public sewer; Electricity available; Cable available
• Home design: Condominium; Multi/split levels; Two-story building; Faces southeast; Resale condition
• Construction: Concrete/CBS construction; Wood truss/rafter roof; Built as part of a multi-unit complex
• Exterior features: Waterfront property; Entry-level living area

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: One main-level bedroom
• Flooring: Laminate; Vinyl
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Walk-in closet(s); Blinds and drapes
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $-82 ($-986/yr) — negative.
• To cash-flow at today's rent, offer at most $110k (11.6% below list).
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (11.6% 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 23d 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 $13k of equity ($864 loan paydown + $12k 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 $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago; this cycle's ask is 8233% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $70k; list at $125k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.

Recommended offer $110,478 (11.6% 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 34 days. Have you received any prior offers? Is the seller open to a 12% 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. 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.
8. 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.
9. 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: 1.41% ✓
• Cap rate: 5.50%
• Cash-on-cash: -2.82%
• DSCR: 0.87
• GRM: 5.9

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: 21.2%
• Equity multiple: 2.70×
• Total profit: $59,518
• Equity at exit: $112,610

10-year hold

• IRR: 18.5%
• Equity multiple: 5.95×
• Total profit: $173,271
• Equity at exit: $242,848

Cash invested: $35,000 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,759 high
• Mortgage (P&I): −$656
• Tax from tax record: −$153 /mo · $1,834/yr
• Insurance: −$52
• HOA: −$611
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $-82

Break-even live

Break-even rent $1,863

Max offer price $110,478

Occupancy floor 100%

Sensitivity live

Price	-10% $-11	-5% $-47	+0% $-82	+5% $-118	+10% $-153
Rent	-10% $-221	-5% $-152	+0% $-82	+5% $-13	+10% $57
Rate	-1.0pp $-19	-0.5pp $-50	base $-82	+0.5pp $-115	+1.0pp $-148

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
221 Lake Meryl Dr West Palm Beach, FL	2.0	2.0	1000	$1,550	$1.55	26d	1	0.39mi
138 Lake Frances Dr West Palm Beach, FL	2.0	2.0	812	$1,845	$2.27	26d	1	0.39mi
161 Lake Frances Dr Unit 161 West Palm Beach, FL	1.0	1.5	704	$1,430	$2.03	10d	1	0.40mi
230 Lake Dora Dr #230 West Palm Beach, FL	2.0	2.0	888	$1,700	$1.91	10d	1	0.43mi
7130 Okeechobee Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1086	$2,128	$1.96	0d	8	0.47mi
108 Lake Nancy Dr West Palm Beach, FL	2.0	2.0	967	$1,600	$1.65	1d	1	0.48mi
155 Lake Carol Dr Unit 155 West Palm Beach, FL	2.0	2.0	812	$1,950	$2.40	26d	1	0.65mi
7080 Banyan Leaf Rd West Palm Beach, FL	1.0–2.0	1.0–2.0	742	$1,847	$2.49	0d	17	0.69mi
129 Lake Carol Dr #129 West Palm Beach, FL	1.0	1.0	600	$1,500	$2.50	26d	1	0.69mi
235 Lake Dora Dr West Palm Beach, FL	2.0	2.0	812	$1,860	$2.29	26d	1	0.69mi
314 Lake Dora Dr West Palm Beach, FL	2.0	2.0	888	$1,650	$1.86	23d	1	0.69mi
321 Lake Evelyn Dr West Palm Beach, FL	2.0	2.0	888	$1,600	$1.80	26d	1	0.69mi
228 Lake Dora Dr West Palm Beach, FL	1.0	1.5	704	$1,500	$2.13	26d	1	0.69mi
200 Lake Carol Dr West Palm Beach, FL	2.0	2.0	888	$1,750	$1.97	26d	1	0.69mi
175 Lake Carol Dr #175 West Palm Beach, FL	1.0	1.0	600	$1,300	$2.17	26d	1	0.69mi
228 Lake Dora Dr West Palm Beach, FL	1.0	1.5	704	$1,500	$2.13	24d	1	0.69mi
106 Lake Dora Dr West Palm Beach, FL	2.0	2.0	812	$1,600	$1.97	26d	1	0.69mi
173 Lake Dora Dr #173 West Palm Beach, FL	1.0	1.5	704	$1,400	$1.99	26d	1	0.69mi
1542 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	26d	1	0.69mi
1542 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	24d	1	0.69mi
1564 Lake Crystal Dr Unit F West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	19d	1	0.71mi
203 Lake Carol Dr West Palm Beach, FL	1.0	1.0	600	$1,500	$2.50	26d	1	0.72mi
1545 Lake Crystal Dr Unit D West Palm Beach, FL	1.0	1.0	700	$1,675	$2.39	16d	1	0.72mi
1477 Lake Crystal Dr Unit D West Palm Beach, FL	2.0	2.0	928	$1,975	$2.13	19d	1	0.72mi
1547 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	16d	1	0.73mi
1547 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	900	$1,950	$2.17	26d	1	0.73mi
1525 Lake Crystal Dr Unit C West Palm Beach, FL	2.0	2.0	904	$1,800	$1.99	10d	1	0.74mi
1465 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	4d	1	0.77mi
1455 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	17d	1	0.79mi
1455 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	16d	1	0.79mi
1153 Lake Victoria Dr Royal Palm Beach, FL	2.0	1.0	708	$1,725	$2.44	26d	1	0.80mi
1453 Lake Crystal Dr Unit D West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	16d	1	0.80mi
1760 Windorah Way Unit H West Palm Beach, FL	2.0	1.0	904	$1,850	$2.05	26d	1	0.82mi
1440 Lake Crystal Dr Unit B West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	1d	1	0.83mi
1500 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	26d	1	0.85mi
1500 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	10d	1	0.85mi
1700 Windorah Way Unit A West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	16d	1	0.87mi
1540 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	21d	1	0.87mi
1660 Windorah Way Unit H West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	7d	1	0.88mi
1440 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	6d	1	0.88mi

HOA detail condo

• Monthly dues: $611 · $7,332/yr
• Likely covers: watersewertrashcableexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-21
   days on market $125,000 Active 34 DOM
2. 2026-06-18
   days on market $125,000 Active 31 DOM
3. 2026-06-17
   days on market $125,000 Active 30 DOM
4. 2026-06-16
   days on market $125,000 Active 29 DOM
5. 2026-06-15
   days on market $125,000 Active 28 DOM
6. 2026-06-13
   days on market $125,000 Active 26 DOM
7. 2026-06-09
   days on market $125,000 Active 22 DOM
8. 2026-06-08
   days on market $125,000 Active 21 DOM
9. 2026-06-07
   days on market $125,000 Active 20 DOM
10. 2026-06-04
    days on market $125,000 Active 17 DOM
11. 2026-06-03
    days on market $125,000 Active 16 DOM
12. 2026-06-02
    days on market $125,000 Active 15 DOM
13. 2026-06-01
    days on market $125,000 Active 14 DOM
14. 2026-05-31
    days on market $125,000 Active 13 DOM
15. 2026-05-21
    listed $1,500
16. 2026-05-18
    listed $125,000 Active
17. 2026-05-01
    historical
18. 2025-11-01
    listed $139,000 Active
19. 2025-06-03
    historical
20. 2025-04-21
    price $155,000
21. 2025-01-24
    listed $160,000 Active
22. 2023-12-20
    soldstatus $70,000
23. 2019-11-14
    historical
24. 2019-10-08
    listed $40,900 Active
25. 2012-12-03
    soldstatus $20,000

ⓘ 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: $1,834 · $153/mo
• Projected year-2 tax: $1,834 · $153/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 26 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: $21,102
• − Mortgage interest: −$7,002
• − Property taxes: −$1,834
• − Insurance: −$625
• − Repairs & maintenance: −$1,688
• − Management: −$1,688
• − HOA: −$7,332
• − Depreciation: −$3,636
• Taxable loss: −$2,703
• Est. tax savings @ 24.0%: +$649
• After-tax cash flow: $-338/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

-92.5% since first listed

11 events — show timeline

• 2026-05-21 Listed for Rent $1,500 RMLSFL
• 2026-05-18 Listed $125,000 Beaches MLS
• 2026-05-01 Listing Removed — Beaches MLS
• 2025-11-01 Listed $139,000 Beaches MLS
• 2025-06-03 Listing Removed — Beaches MLS
• 2025-04-21 Price Changed $155,000 Beaches MLS
• 2025-01-24 Listed $160,000 Beaches MLS
• 2023-12-20 Sold (Public Records) $70,000 Public Records
• 2019-11-14 Listing Removed — Beaches MLS
• 2019-10-08 Listed $40,900 Beaches MLS
• 2012-12-03 Sold (Public Records) $20,000 Public Records

Property tax history

+7.6%/yr

Latest (2025): $1,834 · -7.8% YoY. Source: county tax records.