4640 W Lucerne Lakes Blvd W W #404 · Greenacres, FL 33467

$115,000

1 bd · 1.0 ba · 900 sqft · Condo public records · 53 Days on market

Built 1980 $560/mo HOA · 30% 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 +25.1/30.0
• 1% rule +10.0/10.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

IMMACULATE AND READY FOR OCCUPANCY, DECORATED IN SOFT COLORS, SCREENED DOOR OVERLOOKING POOL, CONTRACT ON APPLIANCES, BUS SERVICES AVAILABLE, NEAR SHOPPING, RESTAURANTS & MAJOR ROADS FOR YOUR CONVENIENCE. CALL 1ST.

Key facts

• $560 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets allowed with breed restrictions; Senior community
• HOA & community: Association: Sunrise Community; Monthly HOA fee of $560; HOA covers cable, insurance, internet, grounds and structure maintenance, sewer, trash, water, common areas, common real estate tax, elevator, golf, hot water, reserve funds, roof repairs, recreation facility, and pool service; Community amenities include: clubhouse, fitness center, pool (including heated pool), billiard and game rooms, business center, library, community room, laundry, storage, workshop area, manager on site, trash chute, parking, jogging path, sidewalks, street lights, maintained community, recreation facilities, bocce ball, shuffleboard court, pickleball court, courtesy bus, kitchen facilities, internet included

Exterior

• Parking: Assigned parking; On-street parking; 1 open parking space (total 1)
• Security: Fire sprinkler system; Smoke detectors; Security lights; Secure elevator; Security patrol
• Utilities: Public water; Public sewer; Electricity available
• Home design: Condominium; Resale; Faces west; 4-story building
• Construction: CBS and metal frame construction; Concrete (non-stucco) block sections; Second/third floor concrete; Concrete roof
• Exterior features: City street frontage; Paved roads; Private maintained road; Not waterfront; Entry on 4th floor

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 1 bedroom on the main level (unit on 4th floor)
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans; Individual central controls
• Interior features: Walk-in closets; Closet cabinetry; Blinds; Furnished
• Laundry & utility: Laundry room; Hall laundry access; Outside laundry area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#490 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools D+, employment D, amenities 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 soft (-0.4%/yr); 651 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $795 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 53 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $115k implies a 356% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.64% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.47%
• DSCR: 1.42
• GRM: 5.1

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: -6.7%
• Equity multiple: 0.76×
• Total profit: $-7,682
• Equity at exit: $17,147

10-year hold

• IRR: -3.5%
• Equity multiple: 0.81×
• Total profit: $-5,995
• Equity at exit: $9,943

Cash invested: $32,200 (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 33467

• Rents YoY: -0.4%
• Active inventory: 651
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,885 high
• Mortgage (P&I): −$603
• Tax from tax record: −$24 /mo · $294/yr
• Insurance: −$48
• HOA: −$560
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $254

Break-even live

Break-even rent $1,564

Max offer price $115,000

Occupancy floor 82%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4640 Lucerne Lakes Blvd W Lake Worth, FL	2.0	1.0–2.0	960	$1,525	$1.59	4d	2	0.01mi
4760 Lucerne Lakes Blvd W #405 Lake Worth, FL	1.0	1.5	1000	$1,490	$1.49	24d	1	0.09mi
4575 Lucerne Lakes Blvd W #104 Lake Worth, FL	1.0	1.0	900	$1,275	$1.42	7d	1	0.10mi
4575 Lucerne Lakes Blvd W #104 Lake Worth, FL	1.0	1.0	900	$1,240	$1.38	12d	1	0.10mi
7257 Golf Colony Ct #203 Lake Worth, FL	2.0	2.0	790	$1,950	$2.47	7d	1	0.11mi
7281 Golf Colony Ct #204 Lake Worth, FL	1.0	1.0	857	$1,450	$1.69	12d	1	0.12mi
7250 Golf Colony Ct #104 Lake Worth, FL	2.0	2.0	815	$1,985	$2.44	24d	1	0.18mi
4640 Lucerne Lakes Blvd W #605 Lake Worth, FL	2.0	1.0	900	$1,600	$1.78	15d	1	0.19mi
7178 Golf Colony Ct #101 Lake Worth, FL	2.0	2.0	735	$1,700	$2.31	24d	1	0.21mi
7149 Golf Colony Ct #104 Lake Worth, FL	2.0	2.0	790	$2,300	$2.91	24d	1	0.24mi
7149 Golf Colony Ct Lake Worth, FL	2.0	2.0	823	$2,075	$2.52	2d	3	0.24mi
7149 Golf Colony Ct Lake Worth, FL	2.0	2.0	823	$2,098	$2.55	12d	2	0.24mi
7137 Golf Colony Ct #202 Lake Worth, FL	2.0	2.0	735	$1,995	$2.71	15d	1	0.25mi
7137 Golf Colony Ct #202 Lake Worth, FL	2.0	2.0	735	$2,000	$2.72	4d	1	0.25mi
7118 Golf Colony Ct #103 Lake Worth, FL	2.0	2.0	790	$1,725	$2.18	24d	1	0.28mi
7091 Golf Colony Ct #201 Lake Worth, FL	2.0	2.0	735	$1,850	$2.52	14d	1	0.30mi
7101 Golf Colony Ct #102 Lake Worth, FL	2.0	2.0	790	$2,500	$3.16	24d	1	0.31mi
4598 Lucerne Lakes Blvd E #101 Lake Worth, FL	2.0	2.0	872	$2,250	$2.58	4d	1	0.38mi
4598 Lucerne Lakes Blvd E #101 Lake Worth, FL	2.0	2.0	872	$2,250	$2.58	24d	1	0.38mi
4682 Lucerne Lakes Blvd E #202 Lake Worth, FL	2.0	2.0	872	$1,800	$2.06	20d	1	0.38mi
4471 Luxemburg Ct Lake Worth, FL	2.0	2.0	1005	$2,150	$2.14	24d	2	0.47mi
4471 Luxemburg Ct #101 Lake Worth, FL	2.0	2.0	1005	$2,300	$2.29	18d	1	0.47mi
4557 Luxemburg Ct Lake Worth, FL	2.0	1.5	1065	$2,400	$2.25	24d	1	0.49mi
4489 Luxemburg Ct #101 Lake Worth, FL	2.0	2.0	1005	$2,000	$1.99	24d	1	0.49mi
4539 Luxemburg Ct Lake Worth, FL	2.0	2.0	1027	$2,250	$2.19	5d	1	0.51mi
4539 Luxemburg Ct Lake Worth, FL	2.0	2.0	1005	$2,250	$2.24	24d	1	0.51mi
4345 Trevi Ct #204 Lake Worth, FL	2.0	2.0	1005	$2,100	$2.09	20d	1	0.69mi
4373 Trevi Ct Lake Worth, FL	2.0	1.5	1080	$2,500	$2.31	17d	1	0.69mi
4363 Trevi Ct #203 Lake Worth, FL	1.0	1.5	761	$1,650	$2.17	24d	1	0.69mi
4657 Fountains Dr S #206 Lake Worth, FL	1.0	1.0	882	$1,650	$1.87	12d	1	0.70mi
4284 Deste Ct #304 Greenacres, FL	1.0	1.0	716	$2,200	$3.07	16d	1	0.82mi
4266 Deste Ct #107 Greenacres, FL	2.0	2.0	978	$2,100	$2.15	24d	1	0.84mi
845 Salem Ln Lake Worth, FL	2.0	2.0	1024	$1,850	$1.81	24d	1	0.84mi
4801 Esedra Ct Lake Worth, FL	2.0	2.0	1027	$2,075	$2.02	10d	2	0.85mi
4801 Esedra Ct #201 Lake Worth, FL	2.0	2.0	1005	$2,300	$2.29	24d	1	0.85mi
386 Bennington Ln Lake Worth, FL	2.0	2.0	941	$2,000	$2.13	15d	1	0.85mi
4236 Deste Ct #108 Greenacres, FL	1.0	1.0	716	$1,800	$2.51	17d	1	0.86mi
4230 Deste Ct Unit 305 Greenacres, FL	1.0	1.0	716	$1,900	$2.65	5d	1	0.88mi
4242 Deste Ct Unit 208 Greenacres, FL	2.0	2.0	978	$2,500	$2.56	24d	1	0.88mi
4070 Tivoli Ct #307 Lake Worth, FL	2.0	2.0	939	$1,675	$1.78	5d	1	0.88mi

HOA detail condo

• Monthly dues: $560 · $6,720/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $115,000 Active 53 DOM
2. 2026-06-17
   days on market $115,000 Active 52 DOM
3. 2026-06-16
   days on market $115,000 Active 51 DOM
4. 2026-06-15
   days on market $115,000 Active 50 DOM
5. 2026-06-13
   pricedays on market $115,000 Active 48 DOM
6. 2026-06-09
   days on market $114,600 Active 44 DOM
7. 2026-06-08
   days on market $114,600 Active 43 DOM
8. 2026-06-07
   days on market $114,600 Active 42 DOM
9. 2026-06-04
   pricedays on market $114,600 Active 39 DOM
10. 2026-06-03
    days on market $115,000 Active 38 DOM
11. 2026-06-02
    days on market $115,000 Active 37 DOM
12. 2026-06-01
    days on market $115,000 Active 36 DOM
13. 2026-05-31
    days on market $115,000 Active 35 DOM
14. 2026-05-14
    price $115,000
15. 2026-04-23
    listed $125,000 Active
16. 2000-05-23
    soldstatus $25,200
17. 2000-05-19
    soldstatus $25,200 220-char remark

    Show marketing remark (220 chars)

    IMMACULATE AND READY FOR OCCUPANCY, DECORATED IN SOFT COLORS, SCREENED DOOR OVERLOOKING POOL, CONTRACT ON APPLIANCES, BUS SERVICES AVAILABLE, NEAR SHOPPING, RESTAURANTS & MAJOR ROADS FOR YOUR CONVENIENCE. CALL 1ST.

18. 2000-05-01
    historical 220-char remark

    Show marketing remark (220 chars)

    IMMACULATE AND READY FOR OCCUPANCY, DECORATED IN SOFT COLORS, SCREENED DOOR OVERLOOKING POOL, CONTRACT ON APPLIANCES, BUS SERVICES AVAILABLE, NEAR SHOPPING, RESTAURANTS & MAJOR ROADS FOR YOUR CONVENIENCE. CALL 1ST.

19. 2000-01-04
    listed $25,900 220-char remark

    Show marketing remark (220 chars)

    IMMACULATE AND READY FOR OCCUPANCY, DECORATED IN SOFT COLORS, SCREENED DOOR OVERLOOKING POOL, CONTRACT ON APPLIANCES, BUS SERVICES AVAILABLE, NEAR SHOPPING, RESTAURANTS & MAJOR ROADS FOR YOUR CONVENIENCE. CALL 1ST.

20. 1990-03-19
    soldstatus $31,000
21. 1981-02-01
    soldstatus $44,500

ⓘ 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: $294 · $24/mo
• Projected year-2 tax: $954 · $80/mo
• Expected delta: +$661/yr (+$55/mo · 225.2%)

ⓘ 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 ≥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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,625
• − Mortgage interest: −$6,442
• − Property taxes: −$294
• − Insurance: −$575
• − Repairs & maintenance: −$1,810
• − Management: −$1,810
• − HOA: −$6,720
• − Depreciation: −$3,345
• Taxable income: $1,629
• Est. tax owed @ 24.0%: −$391
• After-tax cash flow: $2,657/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 — Greenacres

• Score: 69/100
• State rank: #490
• US rank: #9008

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment D Housing A+ Health & safety A User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• City population: 65,478
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 58,411
• Household income: $95,739
• Rent vs Own: 13.6% rent · 86.4% own
• Severe rent burden: 960.0

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: White 59% Hispanic / Latino 22% Two or more races 13% Black 10% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 4% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Hispanic 3%
• Foreign-born: 24% · Canada, Jamaica, Vietnam
• Languages at home: 71% English-only · Spanish 17% French/Haitian/Cajun 5% Other Indo-European 3%

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: ▼ -288.94%
• Current HPI: 343.7738
• Rent YoY: ▼ -0.40%
• 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

+158.4% since first listed

8 events — show timeline

• 2026-05-14 Price Changed $115,000 Beaches MLS
• 2026-04-23 Listed $125,000 Beaches MLS
• 2000-05-23 Sold (Public Records) $25,200 Public Records
• 2000-05-19 Sold (MLS) $25,200 Beaches MLS
• 2000-05-01 Listing Removed — Beaches MLS
• 2000-01-04 Listed $25,900 Beaches MLS
• 1990-03-19 Sold (Public Records) $31,000 Public Records
• 1981-02-01 Sold (Public Records) $44,500 Public Records

Property tax history

+2.5%/yr

Latest (2025): $294 · +2.8% YoY. Source: county tax records.