4640 Lucerne Lakes Blvd #206 · Greenacres, FL 33467

$99,000

2 bd · 2.0 ba · 1,020 sqft · Condo public records · 330 Days on market

Built 1980 $657/mo HOA · 33% 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 +24.5/30.0
• 1% rule +10.0/10.0
• DSCR +7.9/10.0
• 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

Seller highly motivated | Bright and spacious 2-bedroom, 2-bath condo in the well-maintained Lucerne Lakes 55+ community. Featuring new flooring in the main living areas, new carpet in the bedrooms, and a screened-in balcony with scenic views. The primary suite offers a walk-in closet and private bath. Enjoy convenient features like elevator access, assigned parking, and a washer/dryer on each floor. Community amenities include multiple pools, tennis courts, a fitness center, sauna, clubhouse, game room, and more. Ass Fee includes basic cable and water. Ideally located near shopping, dining, parks, the FL Turnpike, beaches, and the airport.

Key facts

• Walk-in closet
• New flooring
• Assigned parking

Tags

• NEW FLOORING
• SCREENED-IN BALCONY
• WALK-IN CLOSET
• ELEVATOR ACCESS
• ASSIGNED PARKING
• WASHER DRYER ON EACH FLOOR

Property features AI

Finance

• Financial info: Pets not allowed; Senior community
• HOA & community: Homeowners association with monthly fee; Association amenities include billiard room, cabana, fitness center, game room, jogging path, parking, pool, storage, on-site manager, bocce ball, community room, and library; HOA fee covers cable TV, grounds maintenance, sewer, trash, water, common areas, elevator, and hot water

Exterior

• Parking: Assigned parking; Guest parking
• Security: Fire sprinkler system
• Utilities: Three-phase electric
• Home design: Condominium; Resale property; Faces west; 6-story building
• Construction: Built with CBS construction
• Exterior features: Entry-level living area; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile; Vinyl
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Split bedroom layout; Custom mirrors

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $87k (12.0% 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: employment D, 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.
• Zoned schools: Discovery Key Elementary School (math 61% / reading 72%, grade B+, #473 of 2,144 statewide, top 23%, 1,050 students, 31% FRL); Woodlands Middle School (math 51% / reading 58%, grade B-, #183 of 571 statewide, top 34%, 1,551 students, 40% FRL); Santaluces Community High (math 22% / reading 39%, grade F, #434 of 667 statewide, top 66%, 2,675 students, 61% FRL).
• Market conditions: Rents soft (-0.4%/yr); 666 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $684 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 330 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 28y ago; this cycle's ask is 6728% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 33% 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 $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 330 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 2.03% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.82%
• DSCR: 1.39
• GRM: 4.1

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: -8.8%
• Equity multiple: 0.69×
• Total profit: $-8,488
• Equity at exit: $14,761

10-year hold

• IRR: -9.0%
• Equity multiple: 0.58×
• Total profit: $-11,544
• Equity at exit: $8,560

Cash invested: $27,720 (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: 666
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,007 high
• Mortgage (P&I): −$519
• Tax from tax record: −$164 /mo · $1,969/yr
• Insurance: −$41
• HOA: −$657
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $204

Break-even live

Break-even rent $1,749

Max offer price $99,000

Occupancy floor 85%

Sensitivity live

Price	-10% $260	-5% $232	+0% $204	+5% $176	+10% $148
Rent	-10% $45	-5% $124	+0% $204	+5% $283	+10% $362
Rate	-1.0pp $254	-0.5pp $229	base $204	+0.5pp $178	+1.0pp $152

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: $24,750
• Closing costs: $2,970
• 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	6d	2	0.01mi
4760 Lucerne Lakes Blvd W #405 Lake Worth, FL	1.0	1.5	1000	$1,490	$1.49	25d	1	0.09mi
4575 Lucerne Lakes Blvd W #104 Lake Worth, FL	1.0	1.0	900	$1,275	$1.42	9d	1	0.10mi
4575 Lucerne Lakes Blvd W #104 Lake Worth, FL	1.0	1.0	900	$1,240	$1.38	13d	1	0.10mi
7257 Golf Colony Ct #203 Lake Worth, FL	2.0	2.0	790	$1,950	$2.47	9d	1	0.11mi
7281 Golf Colony Ct #204 Lake Worth, FL	1.0	1.0	857	$1,450	$1.69	13d	1	0.12mi
7250 Golf Colony Ct #104 Lake Worth, FL	2.0	2.0	815	$2,100	$2.58	0d	1	0.18mi
7250 Golf Colony Ct #104 Lake Worth, FL	2.0	2.0	815	$1,985	$2.44	25d	1	0.18mi
4640 Lucerne Lakes Blvd W #605 Lake Worth, FL	2.0	1.0	900	$1,600	$1.78	16d	1	0.19mi
7593 Tahiti Ln #205 Lake Worth, FL	2.0	2.0	1186	$1,800	$1.52	25d	1	0.21mi
7178 Golf Colony Ct #101 Lake Worth, FL	2.0	2.0	735	$1,700	$2.31	25d	1	0.21mi
7149 Golf Colony Ct #104 Lake Worth, FL	2.0	2.0	790	$2,300	$2.91	25d	1	0.24mi
7149 Golf Colony Ct Lake Worth, FL	2.0	2.0	823	$2,075	$2.52	3d	3	0.24mi
7149 Golf Colony Ct Lake Worth, FL	2.0	2.0	823	$2,098	$2.55	14d	2	0.24mi
7137 Golf Colony Ct #202 Lake Worth, FL	2.0	2.0	735	$2,000	$2.72	5d	1	0.25mi
7137 Golf Colony Ct #202 Lake Worth, FL	2.0	2.0	735	$1,995	$2.71	16d	1	0.25mi
7118 Golf Colony Ct #103 Lake Worth, FL	2.0	2.0	790	$1,725	$2.18	25d	1	0.28mi
4735 Lucerne Lakes Blvd W Unit 410 Greenacres, FL	2.0	2.0	1330	$1,700	$1.28	23d	1	0.30mi
7091 Golf Colony Ct #201 Lake Worth, FL	2.0	2.0	735	$1,850	$2.52	15d	1	0.30mi
7101 Golf Colony Ct #102 Lake Worth, FL	2.0	2.0	790	$2,500	$3.16	25d	1	0.31mi
4735 Lucerne Lakes Blvd E #410 Lake Worth, FL	2.0	2.0	1330	$1,700	$1.28	25d	1	0.35mi
4725 Lucerne Lakes Blvd E Lake Worth, FL	2.0	2.0	1330	$1,950	$1.47	22d	2	0.36mi
4725 Lucerne Lakes Blvd E Lake Worth, FL	2.0	2.0	1330	$1,950	$1.47	9d	2	0.36mi
4598 Lucerne Lakes Blvd E #101 Lake Worth, FL	2.0	2.0	872	$2,250	$2.58	25d	1	0.38mi
4598 Lucerne Lakes Blvd E #101 Lake Worth, FL	2.0	2.0	872	$2,250	$2.58	6d	1	0.38mi
4682 Lucerne Lakes Blvd E #202 Lake Worth, FL	2.0	2.0	872	$1,800	$2.06	22d	1	0.38mi
4698 Lucerne Lakes Blvd E #103 Lake Worth, FL	2.0	2.0	1244	$2,100	$1.69	25d	1	0.43mi
4471 Luxemburg Ct Lake Worth, FL	2.0	2.0	1005	$2,150	$2.14	25d	2	0.47mi
4471 Luxemburg Ct #101 Lake Worth, FL	2.0	2.0	1005	$2,300	$2.29	20d	1	0.47mi
4483 Luxemburg Ct #201 Lake Worth, FL	3.0	2.0	1265	$2,800	$2.21	25d	1	0.47mi
4557 Luxemburg Ct Lake Worth, FL	2.0	1.5	1065	$2,400	$2.25	25d	1	0.49mi
4489 Luxemburg Ct #101 Lake Worth, FL	2.0	2.0	1005	$2,000	$1.99	25d	1	0.49mi
4539 Luxemburg Ct Lake Worth, FL	2.0	2.0	1027	$2,250	$2.19	6d	1	0.51mi
4539 Luxemburg Ct Lake Worth, FL	2.0	2.0	1005	$2,250	$2.24	25d	1	0.51mi
4345 Trevi Ct #204 Lake Worth, FL	2.0	2.0	1005	$2,100	$2.09	22d	1	0.69mi
4373 Trevi Ct Lake Worth, FL	2.0	1.5	1080	$2,500	$2.31	19d	1	0.69mi
4363 Trevi Ct #203 Lake Worth, FL	1.0	1.5	761	$1,650	$2.17	25d	1	0.69mi
4657 Fountains Dr S #206 Lake Worth, FL	1.0	1.0	882	$1,650	$1.87	13d	1	0.70mi
4702 Fountains Dr S #207 Lake Worth, FL	2.0	2.5	1434	$2,600	$1.81	25d	1	0.75mi
4702 Fountains Dr S #207 Lake Worth, FL	2.0	2.5	1434	$2,600	$1.81	2d	1	0.75mi

HOA detail condo

• Monthly dues: $657 · $7,884/yr
• Likely covers: watercablepoolgymparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-21
   days on market $99,000 Active 330 DOM
2. 2026-06-18
   days on market $99,000 Active 327 DOM
3. 2026-06-17
   days on market $99,000 Active 326 DOM
4. 2026-06-16
   days on market $99,000 Active 325 DOM
5. 2026-06-15
   days on market $99,000 Active 324 DOM
6. 2026-06-13
   days on market $99,000 Active 322 DOM
7. 2026-06-09
   days on market $99,000 Active 318 DOM
8. 2026-06-07
   days on market $99,000 Active 316 DOM
9. 2026-06-04
   days on market $99,000 Active 313 DOM
10. 2026-06-03
    days on market $99,000 Active 312 DOM
11. 2026-06-01
    days on market $99,000 Active 310 DOM
12. 2026-05-31
    days on market $99,000 Active 309 DOM
13. 2026-05-09
    listed $1,450
14. 2026-03-04
    price $99,000
15. 2026-03-04
    status Active
16. 2026-03-01
    historical
17. 2025-12-08
    price $105,850
18. 2025-10-01
    historical $1,500
19. 2025-08-01
    historical $1,500
20. 2025-07-31
    listed $1,500
21. 2025-07-23
    listed $118,000 Active
22. 2025-06-14
    price $1,500
23. 2025-05-13
    price $1,675
24. 2025-04-03
    listed $1,750
25. 2025-03-20
    historical
26. 2025-02-10
    listed $128,000 Active
27. 2025-02-10
    historical
28. 2024-12-11
    price $138,000
29. 2024-09-10
    price $160,000
30. 2024-07-25
    price $170,000
31. 2024-05-13
    price $195,000
32. 2024-04-25
    listed $199,000 Active
33. 2021-08-30
    soldstatus $96,000 Closed
34. 2021-07-30
    historical Active Under Contract
35. 2021-07-27
    listed $99,999 Active
36. 2013-12-01
    historical
37. 2013-09-22
    historical
38. 2013-09-22
    historical
39. 2003-10-06
    soldstatus $57,900
40. 2003-09-16
    soldstatus $57,900
41. 2003-07-17
    historical
42. 2003-05-28
    listed $58,900
43. 2003-01-23
    historical
44. 2002-11-29
    listed $55,000
45. 2002-06-28
    historical
46. 2002-06-25
    historical
47. 2002-06-24
    listed $55,000
48. 2002-06-24
    listed $55,000
49. 2002-03-05
    listed $55,000
50. 2001-12-06
    historical

ⓘ 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: $1,969 · $164/mo
• Projected year-2 tax: $1,969 · $164/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 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: $24,079
• − Mortgage interest: −$5,546
• − Property taxes: −$1,969
• − Insurance: −$495
• − Repairs & maintenance: −$1,926
• − Management: −$1,926
• − HOA: −$7,884
• − Depreciation: −$2,880
• Taxable income: $1,453
• Est. tax owed @ 24.0%: −$349
• After-tax cash flow: $2,096/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

-97.3% since first listed

51 events — show timeline

• 2026-05-09 Listed for Rent $1,450 RMLSFL
• 2026-03-04 Price Changed $99,000 Beaches MLS
• 2026-03-04 Relisted — Beaches MLS
• 2026-03-01 Listing Removed — Beaches MLS
• 2025-12-08 Price Changed $105,850 Beaches MLS
• 2025-10-01 Rental Removed $1,500 RMLSFL
• 2025-08-01 Rental Removed $1,500 GFLMLS
• 2025-07-31 Listed for Rent $1,500 GFLMLS
• 2025-07-23 Listed $118,000 Beaches MLS
• 2025-06-14 Price Changed $1,500 RMLSFL
• 2025-05-13 Price Changed $1,675 RMLSFL
• 2025-04-03 Listed for Rent $1,750 RMLSFL
• 2025-03-20 Listing Removed — MARMLS
• 2025-02-10 Listing Removed — MARMLS
• 2025-02-10 Listed $128,000 MARMLS
• 2024-12-11 Price Changed $138,000 MARMLS
• 2024-09-10 Price Changed $160,000 MARMLS
• 2024-07-25 Price Changed $170,000 MARMLS
• 2024-05-13 Price Changed $195,000 MARMLS
• 2024-04-25 Listed $199,000 MARMLS
• 2021-08-30 Sold (MLS) $96,000 Beaches MLS
• 2021-07-30 Contingent — Beaches MLS
• 2021-07-27 Listed $99,999 Beaches MLS
• 2013-12-01 Listing Removed — Beaches MLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2003-10-06 Sold (Public Records) $57,900 Public Records
• 2003-09-16 Sold (MLS) $57,900 Beaches MLS
• 2003-07-17 Listing Removed — Beaches MLS
• 2003-05-28 Listed $58,900 Beaches MLS
• 2003-01-23 Listing Removed — Beaches MLS
• 2002-11-29 Listed $55,000 Beaches MLS
• 2002-06-28 Listing Removed — Beaches MLS
• 2002-06-25 Listing Removed — Beaches MLS
• 2002-06-24 Listed $55,000 Beaches MLS
• 2002-06-24 Listed $55,000 Beaches MLS
• 2002-03-05 Listed $55,000 Beaches MLS
• 2001-12-06 Listing Removed — Beaches MLS
• 2001-11-20 Listed $54,000 Beaches MLS
• 2001-08-17 Listed $54,000 Beaches MLS
• 2001-08-14 Listing Removed — Beaches MLS
• 2001-07-26 Listed $45,000 Beaches MLS
• 2001-01-09 Listed $39,900 Beaches MLS
• 1999-07-21 Listing Removed — Beaches MLS
• 1999-05-09 Listed $41,500 Beaches MLS
• 1999-05-03 Listing Removed — Beaches MLS
• 1999-04-08 Listed $51,000 Beaches MLS
• 1999-02-04 Listing Removed — Beaches MLS
• 1998-12-30 Listed $45,000 Beaches MLS
• 1995-08-03 Sold (Public Records) $40,000 Public Records
• 1981-01-01 Sold (Public Records) $54,500 Public Records

Property tax history

+16.7%/yr

Latest (2025): $1,969 · -4.7% YoY. Source: county tax records.