1702 S Dixie Hwy #15 · Lake Worth Beach, FL 33460

$200,000

2 bd · 2.0 ba · 1,011 sqft · Condo public records · 19 Days on market

Built 1987 $217/mo HOA · 9% 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).

• Cash flow +22.2/30.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• DSCR +7.1/10.0
• Schools +4.3/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR SPECIAL- GREAT OPPORTUNITY TO OWN THIS SPACIOUS TWO-BEDROOM AND TWO-BATH AT AN EXCELLENT LOCATION! CERAMIC TILE THROUGHOUT. CLOSE TO SHOPPING AND ENTERTAINMENT. JUST ONLY 15 MINUTES FROM THE BEACH AND THE AIRPORT. CASH ONLY. LONG-TERM AND GOOD TENANT IN PLACE.

Key facts

• Tenant occupied
• Functional layout
• Well maintained

Tags

• TENANT OCCUPIED
• RELIABLE RENTAL INCOME
• FUNCTIONAL LAYOUT
• WELL MAINTAINED
• TURNKEY ADDITION
• CONVENIENTLY LOCATED

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Quarterly association fee of $650 (includes trash)

Exterior

• Parking: One parking space
• Home design: 2-story building; Entry located on the 2nd level; Attached property
• Construction: Block construction; Effective year built listed
• Exterior features: No notable exterior features listed

Interior

• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Second-floor entry
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $197k (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.
• Market conditions: Rents rising (+3.5%/yr); 250 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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).
• At $2,453/mo this rent would consume 47% of the median local household income ($62k/yr) (locally 2429% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 19 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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 $165k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $197,000 (1.5% below list)

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. 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.
5. 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.
6. 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: 1.23% ✓
• Cap rate: 8.25%
• Cash-on-cash: 6.98%
• DSCR: 1.31
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.53% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-10,164
• Equity at exit: $29,821

10-year hold

• IRR: 5.6%
• Equity multiple: 1.43×
• Total profit: $24,048
• Equity at exit: $17,292

Cash invested: $56,000 (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 33460

• Rents YoY: 3.5%
• Active inventory: 250
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,453 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$263 /mo · $3,152/yr
• Insurance: −$83
• HOA: −$217
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $326

Break-even live

Break-even rent $2,040

Max offer price $200,000

Occupancy floor 82%

Sensitivity live

Price	-10% $439	-5% $382	+0% $326	+5% $269	+10% $213
Rent	-10% $132	-5% $229	+0% $326	+5% $423	+10% $520
Rate	-1.0pp $427	-0.5pp $377	base $326	+0.5pp $274	+1.0pp $221

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 18th Ave S Lake Worth Beach, FL	3.0	2.0	1286	$3,000	$2.33	25d	1	0.13mi
300 Waterway Dr S #308 Lantana, FL	2.0	1.5	806	$2,200	$2.73	25d	1	0.17mi
303 Waterway Dr S #303 Lantana, FL	2.0	1.5	900	$2,100	$2.33	25d	1	0.19mi
896 N Federal Hwy #128 Lantana, FL	2.0	2.0	1025	$3,200	$3.12	13d	1	0.19mi
200 Waterway Dr S #202 Lantana, FL	1.0	1.5	806	$1,850	$2.30	25d	1	0.22mi
1502 S Lakeside Dr #302 Lake Worth Beach, FL	1.0	1.0	700	$1,200	$1.71	20d	1	0.23mi
1516 S Lakeside Dr Lake Worth, FL	1.0	1.5	767	$1,650	$2.15	15d	2	0.23mi
896 N Federal Hwy Lantana, FL	2.0	2.0	1027	$2,925	$2.85	9d	2	0.26mi
896 N Federal Hwy Lantana, FL	2.0	2.0	1027	$2,700	$2.63	25d	2	0.26mi
107 Waterway Dr S Lantana, FL	1.0	1.5	806	$1,750	$2.17	9d	1	0.27mi
802 W Windward Way Unit 1545847P Lantana, FL	2.0	2.0	1259	$3,122	$2.48	18d	1	0.27mi
802 W Windward Way #304 Lantana, FL	1.0	1.0	839	$2,700	$3.22	25d	1	0.27mi
802 W Windward Way #311 Lantana, FL	2.0	2.0	1265	$2,600	$2.06	25d	1	0.27mi
802 W Windward Way #216 Lantana, FL	2.0	2.0	1350	$3,000	$2.22	25d	1	0.27mi
1331 S Federal Hwy Lake Worth, FL	2.0	2.0	1011	$2,099	$2.08	12d	1	0.28mi
1331 S Federal Hwy Lake Worth, FL	2.0	2.0	1011	$2,099	$2.08	25d	1	0.28mi
804 E Windward Way #316 Lantana, FL	2.0	2.0	1265	$3,000	$2.37	22d	1	0.29mi
804 E Windward Way #120 Lantana, FL	2.0	2.0	1265	$2,500	$1.98	20d	1	0.29mi
804 E Windward Way #211 Lantana, FL	2.0	2.0	1265	$2,600	$2.06	16d	1	0.29mi
804 E Windward Way #618 Lantana, FL	2.0	2.0	1265	$3,700	$2.92	16d	1	0.29mi
804 E Windward Way #103 Lantana, FL	2.0	2.0	1254	$2,750	$2.19	4d	1	0.29mi
804 E Windward Way Ph -15 Lantana, FL	2.0	2.0	1265	$2,390	$1.89	14d	1	0.31mi
804 E Windward Way Ph -15 Lantana, FL	2.0	2.0	1265	$3,000	$2.37	25d	1	0.31mi
806 E Windward Way #323 Lantana, FL	2.0	2.0	1265	$5,000	$3.95	25d	1	0.32mi
806 E Windward Way #111 Lantana, FL	2.0	2.0	1265	$3,000	$2.37	25d	1	0.32mi
720 N Dixie Hwy #202 Lantana, FL	2.0	2.5	1125	$2,000	$1.78	6d	1	0.39mi
720 N Dixie Hwy #601 Lantana, FL	2.0	2.5	1160	$2,300	$1.98	21d	1	0.39mi
611 N Broadway Unit A Lantana, FL	1.0	1.0	1184	$1,550	$1.31	16d	1	0.46mi
614 N 7th St Lantana, FL	2.0	1.0	960	$2,400	$2.50	25d	1	0.46mi
329 Melody Ln Unit 331 Lantana, FL	2.0	2.0	842	$1,849	$2.20	9d	1	0.49mi
703 Dawn Pl Unit C Lantana, FL	2.0	2.0	935	$2,500	$2.67	9d	1	0.54mi
1021 S N St Lake Worth Beach, FL	3.0	3.0	1244	$3,800	$3.05	22d	1	0.54mi
301 Croton Ave #302 Lantana, FL	1.0	1.0	702	$1,900	$2.71	25d	1	0.54mi
200 Croton Ave Lantana, FL	1.0–2.0	1.0	695	$1,850	$2.66	16d	2	0.54mi
300 Croton Ave #102 Lantana, FL	2.0	2.0	1039	$3,250	$3.13	25d	1	0.57mi
300 Croton Ave Lantana, FL	2.0	2.0	1039	$3,000	$2.89	25d	1	0.58mi
231 E Lantana Rd #203 Lantana, FL	2.0	2.0	950	$2,400	$2.53	5d	1	0.59mi
1015 S K St #1 Lake Worth, FL	1.0	1.0	1160	$1,850	$1.59	20d	1	0.61mi
928 S Federal Hwy Lake Worth, FL	1.0	1.0	700	$1,475	$2.11	0d	1	0.62mi
900 Water Tower Way Lantana, FL	1.0–2.0	1.0–2.0	1176	$3,541	$3.01	0d	19	0.64mi

HOA detail condo

• Monthly dues: $217 · $2,604/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-21
   days on market $200,000 Active 19 DOM
2. 2026-06-18
   days on market $200,000 Active 16 DOM
3. 2026-06-17
   days on market $200,000 Active 15 DOM
4. 2026-06-16
   days on market $200,000 Active 14 DOM
5. 2026-06-15
   days on market $200,000 Active 13 DOM
6. 2026-06-13
   days on market $200,000 Active 11 DOM
7. 2026-06-09
   days on market $200,000 Active 7 DOM
8. 2026-06-08
   days on market $200,000 Active 6 DOM
9. 2026-06-07
   days on market $200,000 Active 5 DOM
10. 2026-06-04
    days on market $200,000 Active 2 DOM
11. 2026-06-02
    remarks 594-char remark
12. 2026-06-02
    listed $200,000 Active 1 DOM

ⓘ 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: $3,152 · $263/mo
• Projected year-2 tax: $3,152 · $263/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 6/10 Major FEMA zone X (unshaded) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 27 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: $29,432
• − Mortgage interest: −$11,203
• − Property taxes: −$3,152
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,355
• − Management: −$2,355
• − HOA: −$2,604
• − Depreciation: −$5,818
• Taxable income: $946
• Est. tax owed @ 24.0%: −$227
• After-tax cash flow: $3,683/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): 37,795
• Household income: $62,090
• Rent vs Own: 55.6% rent · 44.4% own
• Severe rent burden: 2429.0

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 0.64)
• Race & ethnicity: Hispanic / Latino 49% White 30% Two or more races 21% Black 17%
• Hispanic origin (detail): Mexican 5% Puerto Rican 5% Cuban 5% Dominican 2%
• Common ancestry: Hispanic 8% Lithuanian 2% Slovak 1%
• Foreign-born: 40% · Canada, Jamaica
• Languages at home: 44% English-only · Spanish 42% French/Haitian/Cajun 9% 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: ▼ -345.65%
• Current HPI: 484.2793
• Rent YoY: ▲ 3.53%
• 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

+561.2% since first listed

9 events — show timeline

• 2026-05-26 Listed $200,000 MARMLS
• 2023-06-06 Sold (Public Records) $165,000 Public Records
• 2023-05-23 Sold (MLS) $165,000 Beaches MLS
• 2023-05-08 Contingent — Beaches MLS
• 2023-04-22 Price Changed $165,000 Beaches MLS
• 2023-04-19 Listed $162,000 Beaches MLS
• 2014-02-14 Sold (MLS) $34,100 Beaches MLS
• 2013-10-10 Pending — Beaches MLS
• 2013-09-12 Listed $30,250 Beaches MLS

Property tax history

+12.1%/yr

Latest (2025): $3,152 · +1.6% YoY. Source: county tax records.