368 Lake Frances Dr · West Palm Beach, FL 33411

$98,000

1 bd · 1.5 ba · 704 sqft · Condo public records · 199 Days on market

Built 1978 $460/mo HOA · 28% of rent

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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 +19.2/30.0
• 1% rule +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks

BRAND NEW AC AND WATER HEATER (2026) Welcome to this charming and welcoming first-floor condo located in a well-maintained 55+ community of Golden Lakes! This cozy 1-bedroom, 1.5-bathroom home offers a functional layout with a combined living and dining area, ideal for relaxed everyday living. The inviting kitchen features a convenient pantry and flows seamlessly into the main living space, while the carpeted flooring throughout adds warmth and comfort to the home. The spacious primary bedroom boasts a walk-in closet and an ensuite bathroom, providing a peaceful retreat with plenty of storage. Step outside to the screened patio where you can enjoy tranquil water views and gentle breezes per

Key facts

• Inviting kitchen
• First-floor condo
• Walk-in closet

Tags

• FIRST-FLOOR CONDO
• INVITING KITCHEN
• CONVENIENT PANTRY
• CARPETED FLOORING
• WALK-IN CLOSET
• ENSUITE BATHROOM

Property features AI

Finance

• Other: Living area recorded from plans; Building area: 704 (per plans)
• Financial info: Pets not allowed; Is a senior community
• HOA & community: Monthly HOA fee; Community amenities include: billiard room, fitness center, game room, management, picnic area, parking, pool, shuffleboard court, spa/hot tub, tennis courts, on-site manager, community room, courtesy bus, library, sidewalks; HOA covers cable TV, insurance, grounds maintenance, pest control, security, sewer, trash, water, and common areas; Has association

Exterior

• Parking: Assigned parking; Guest parking; Open parking
• Security: Gated community with guard
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Multi/split levels; Entry-level living area; Faces west; 2 stories
• Construction: Stucco and CBS construction; Composition/shingle roof with wood truss/rafter
• Exterior features: Covered patio; Screened patio; Patio; Cul-de-sac lot; Paved road; Waterfront

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central electric heating; Central air conditioning (electric)
• Interior features: Walk-in closets; Furnished; Blinds and drapes; Single hung metal and sliding windows
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $98k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $86k (12.0% below list) — sets the bar for market timing.

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; 581 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $10k of equity ($678 loan paydown + $10k 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 $27k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 199 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $16k; list at $98k implies a 494% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 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 1978 — 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. 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?
8. 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.
9. 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.
10. 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: 1.65% ✓
• Cap rate: 7.59%
• Cash-on-cash: 4.64%
• DSCR: 1.21
• GRM: 5.1

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: 26.4%
• Equity multiple: 3.08×
• Total profit: $57,035
• Equity at exit: $88,286

10-year hold

• IRR: 22.3%
• Equity multiple: 6.72×
• Total profit: $156,944
• Equity at exit: $190,392

Cash invested: $27,440 (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: 581
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,616 high
• Mortgage (P&I): −$514
• Tax from tax record: −$156 /mo · $1,867/yr
• Insurance: −$41
• HOA: −$460
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $106

Break-even live

Break-even rent $1,481

Max offer price $98,000

Occupancy floor 88%

Sensitivity live

Price	-10% $162	-5% $134	+0% $106	+5% $78	+10% $51
Rent	-10% $-22	-5% $42	+0% $106	+5% $170	+10% $234
Rate	-1.0pp $155	-0.5pp $131	base $106	+0.5pp $81	+1.0pp $55

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
161 Lake Frances Dr Unit 161 West Palm Beach, FL	1.0	1.5	704	$1,430	$2.03	9d	1	0.20mi
228 Lake Dora Dr West Palm Beach, FL	1.0	1.5	704	$1,500	$2.13	23d	1	0.42mi
173 Lake Dora Dr #173 West Palm Beach, FL	1.0	1.5	704	$1,400	$1.99	25d	1	0.42mi
175 Lake Carol Dr #175 West Palm Beach, FL	1.0	1.0	600	$1,300	$2.17	25d	1	0.42mi
129 Lake Carol Dr #129 West Palm Beach, FL	1.0	1.0	600	$1,500	$2.50	25d	1	0.42mi
228 Lake Dora Dr West Palm Beach, FL	1.0	1.5	704	$1,500	$2.13	25d	1	0.42mi
203 Lake Carol Dr West Palm Beach, FL	1.0	1.0	600	$1,500	$2.50	25d	1	0.46mi
1545 Lake Crystal Dr Unit D West Palm Beach, FL	1.0	1.0	700	$1,675	$2.39	15d	1	0.52mi
1153 Lake Victoria Dr Royal Palm Beach, FL	2.0	1.0	708	$1,725	$2.44	25d	1	0.71mi
1990 Augustine Rd West Palm Beach, FL	1.0–2.0	1.0–2.0	1019	$2,051	$2.01	0d	15	0.75mi
1215 N Benoist Farms Rd #203 West Palm Beach, FL	2.0	1.0	708	$1,750	$2.47	25d	1	0.81mi
1203 N Benoist Farms Rd #107 West Palm Beach, FL	1.0	1.0	530	$1,480	$2.79	20d	1	0.83mi
1203 N Benoist Farms Rd #107 West Palm Beach, FL	1.0	1.0	530	$1,480	$2.79	25d	1	0.83mi
1101 N Benoist Farms Rd #106 West Palm Beach, FL	2.0	1.0	708	$1,700	$2.40	25d	1	0.93mi
1080 N Benoist Farms Rd #204 West Palm Beach, FL	2.0	1.0	708	$1,500	$2.12	18d	1	0.95mi
1080 N Benoist Farms Rd #204 West Palm Beach, FL	2.0	1.0	708	$1,500	$2.12	0d	1	0.95mi
7080 Banyan Leaf Rd West Palm Beach, FL	1.0–2.0	1.0–2.0	742	$1,852	$2.49	0d	16	0.95mi
1089 N Benoist Farms Rd #301 West Palm Beach, FL	1.0	1.0	540	$1,550	$2.87	22d	1	0.98mi
1068 N Benoist Farms Rd #205 West Palm Beach, FL	2.0	1.0	708	$1,800	$2.54	25d	1	0.99mi
6559 Emerald Dunes Dr Royal Palm Beach, FL	1.0–3.0	1.0–2.0	1060	$1,850	$1.74	0d	3	1.22mi
6559 Emerald Dunes Dr Royal Palm Beach, FL	1.0–3.0	1.0–2.0	1060	$1,925	$1.82	25d	2	1.22mi
6482 Emerald Dunes Dr Unit 215 Royal Palm Beach, FL	1.0	1.0	745	$1,700	$2.28	25d	1	1.24mi
6386 Emerald Dunes Dr West Palm Beach, FL	1.0–3.0	1.0–2.0	1060	$1,850	$1.74	4d	2	1.39mi
6386 Emerald Dunes Dr West Palm Beach, FL	1.0–3.0	1.0–2.0	1060	$1,850	$1.74	16d	2	1.39mi

HOA detail condo

• Monthly dues: $460 · $5,520/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   days on market $98,000 Active 199 DOM
2. 2026-06-18
   days on market $98,000 Active 196 DOM
3. 2026-06-17
   days on market $98,000 Active 195 DOM
4. 2026-06-16
   days on market $98,000 Active 194 DOM
5. 2026-06-15
   days on market $98,000 Active 193 DOM
6. 2026-06-13
   days on market $98,000 Active 191 DOM
7. 2026-06-09
   days on market $98,000 Active 187 DOM
8. 2026-06-07
   days on market $98,000 Active 185 DOM
9. 2026-06-04
   days on market $98,000 Active 182 DOM
10. 2026-06-03
    days on market $98,000 Active 181 DOM
11. 2026-06-01
    days on market $98,000 Active 179 DOM
12. 2026-05-31
    days on market $98,000 Active 178 DOM
13. 2026-02-25
    price $98,000
14. 2025-12-04
    listed $95,000 Active
15. 1998-12-30
    soldstatus $16,500
16. 1985-02-01
    soldstatus $32,500

ⓘ 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: $1,867 · $156/mo
• Projected year-2 tax: $1,867 · $156/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 5/10 Major
• 🌡 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: $19,388
• − Mortgage interest: −$5,490
• − Property taxes: −$1,867
• − Insurance: −$490
• − Repairs & maintenance: −$1,551
• − Management: −$1,551
• − HOA: −$5,520
• − Depreciation: −$2,851
• Taxable income: $69
• Est. tax owed @ 24.0%: −$17
• After-tax cash flow: $1,256/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

+201.5% since first listed

4 events — show timeline

• 2026-02-25 Price Changed $98,000 Beaches MLS
• 2025-12-04 Listed $95,000 Beaches MLS
• 1998-12-30 Sold (Public Records) $16,500 Public Records
• 1985-02-01 Sold (Public Records) $32,500 Public Records

Property tax history

+17.7%/yr

Latest (2025): $1,867 · -23.6% YoY. Source: county tax records.