1505 Crescent Cir Unit C35 · Lake Park, FL 33403

$150,000

2 bd · 1.5 ba · 847 sqft · Condo public records · 129 Days on market

Built 1967 $666/mo HOA · 19% of rent ↓ 3% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Rent growth +4.0/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• $666 HOA
• 2 garage spots
• Built 1967

Property features AI

Finance

• HOA & community: HOA with a monthly fee of $666; Association amenities: none listed; Pets allowed with possible restrictions and number limits

Exterior

• Parking: 2-car garage (covered parking for 2)
• Utilities: No utilities listed
• Home design: Condominium; 2-story building; Faces west; Resale condition
• Construction: Constructed with CBS (concrete block construction)
• Exterior features: Not waterfront; No waterfront features reported

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: 2 bedrooms on the main level
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Heating (type listed as other); Central air conditioning
• Interior features: No notable interior features reported; Unfurnished

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $931 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#542 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: crime F, amenities F, commute 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 rising fast (+6.0%/yr); 134 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $3,434/mo this rent would consume 58% of the median local household income ($71k/yr) (locally 903% 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 $4k 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.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
9. 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.
10. 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.
11. 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: 2.29% ✓
• Cap rate: 13.74%
• Cash-on-cash: 26.59%
• DSCR: 2.18
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.97% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 2.10×
• Total profit: $46,036
• Equity at exit: $22,365

10-year hold

• IRR: 35.3%
• Equity multiple: 4.92×
• Total profit: $164,558
• Equity at exit: $12,969

Cash invested: $42,000 (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 33403

• Home prices YoY: -19.6%
• Rents YoY: 6.0%
• Active inventory: 134
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $3,434 high
• Mortgage (P&I): −$787
• Tax from tax record: −$267 /mo · $3,202/yr
• Insurance: −$62
• HOA: −$666
• Vacancy / Maint / Mgmt: −$721
• Net cashflow: $931

Break-even live

Break-even rent $2,256

Max offer price $150,000

Occupancy floor 68%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 Southwind Ct Unit 8 North Palm Beach, FL	2.0	2.0	1100	$2,900	$2.64	24d	1	0.35mi
526 Eastwind Dr Unit 526 North Palm Beach, FL	2.0	1.0	840	$3,995	$4.76	24d	1	0.44mi
522 Eastwind Dr North Palm Beach, FL	2.0	2.0	948	$3,995	$4.21	24d	1	0.44mi
524 Eastwind Dr Unit 524 North Palm Beach, FL	2.0	1.0	774	$3,995	$5.16	24d	1	0.44mi
624 Southwind Cir #2 North Palm Beach, FL	2.0	2.0	718	$3,750	$5.22	24d	1	0.49mi
913 Lake Shore Dr Lake Park, FL	1.0–2.0	1.0–2.0	1066	$3,731	$3.50	2d	9	0.56mi
2545 Conroy Dr West Palm Beach, FL	3.0	2.0	1066	$3,295	$3.09	24d	1	0.91mi
220 Lake Shore Dr Lake Park, FL	1.0–3.0	1.5–3.5	1575	$14,498	$9.20	5d	18	0.94mi
901 W 37th St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	24d	1	1.08mi
913 Lighthouse Dr North Palm Beach, FL	3.0	2.5	1092	$5,900	$5.40	24d	1	1.26mi
410 Wilma Cir #103 Riviera Beach, FL	2.0	2.0	1056	$4,000	$3.79	15d	1	1.49mi

HOA detail condo

• Monthly dues: $666 · $7,992/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-09
   days on market $150,000 Active 129 DOM
2. 2026-06-07
   days on market $150,000 Active 127 DOM
3. 2026-06-04
   days on market $150,000 Active 124 DOM
4. 2026-06-03
   days on market $150,000 Active 123 DOM
5. 2026-06-01
   days on market $150,000 Active 121 DOM
6. 2026-05-31
   days on market $150,000 Active 120 DOM
7. 2026-01-30
   listed $150,000 Active
8. 2022-08-10
   soldstatus $145,000 Closed
9. 2022-07-14
   status Pending
10. 2022-06-28
    price $149,900
11. 2022-06-28
    status Active
12. 2022-06-24
    status Pending
13. 2022-06-17
    listed $154,900 Active

ⓘ 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: $3,202 · $267/mo
• Projected year-2 tax: $3,202 · $267/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 2/10 Low
• 🌡 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: $41,203
• − Mortgage interest: −$8,402
• − Property taxes: −$3,202
• − Insurance: −$750
• − Repairs & maintenance: −$3,296
• − Management: −$3,296
• − HOA: −$7,992
• − Depreciation: −$4,364
• Taxable income: $9,900
• Est. tax owed @ 24.0%: −$2,376
• After-tax cash flow: $8,791/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 Park

• Score: 67/100
• State rank: #542
• US rank: #10167

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Park, FL
• County: Palm Beach County · 1,438,312 people
• City population: 14,370
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 14,370
• Household income: $70,646
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 903.0

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 0.67)
• Race & ethnicity: Black 46% White 31% Hispanic / Latino 17% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 5%
• Common ancestry: Hispanic 15% Italian 2% Romanian 1%
• Foreign-born: 26% · Canada, China, Jamaica
• Languages at home: 69% English-only · French/Haitian/Cajun 17% Spanish 12% Chinese 1%

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: ▼ -112.30%
• Current HPI: 461.4045
• Rent YoY: ▲ 5.97%
• 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

-3.2% since first listed

7 events — show timeline

• 2026-01-30 Listed $150,000 Beaches MLS
• 2022-08-10 Sold (MLS) $145,000 Beaches MLS
• 2022-07-14 Pending — Beaches MLS
• 2022-06-28 Price Changed $149,900 Beaches MLS
• 2022-06-28 Relisted — Beaches MLS
• 2022-06-24 Pending — Beaches MLS
• 2022-06-17 Listed $154,900 Beaches MLS

Property tax history

+7.7%/yr

Latest (2025): $3,202 · +2.8% YoY. Source: county tax records.