631 Executive Center Dr Unit K204 · West Palm Beach, FL 33401

$195,000

1 bd · 1.0 ba · 627 sqft · Condo public records · 365 Days on market

Built 1985 $464/mo HOA · 14% 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 +29.9/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a turnkey property. • Gated Community of 128 Units. • Large Swimming Pool w/ covered picnic area. • All Buildings in Eden Place have new roofing as of 2024. • Close access to 1-95, the Outlet Mall, beaches, etc. • Free Water • Security cameras monitor common areas of the community; ie, entrance & exit gates, parking area, pool area, etc. • 627 sq. ft. living space. • HOA Fees: $464/mo. • Units currently renting between: $1,700 to $1,800 per month. • All units have a gated privacy fence around them. • Parking spot is located directly in front of the unit. • Deck on 2nd floor is 8 ft. x 16 ft. with an additional patio area on the 1st floor.

Key facts

• Gated community
• Deck on 2nd floor
• New roofing

Tags

• GATED COMMUNITY
• LARGE SWIMMING POOL
• NEW ROOFING
• FREE WATER SECURITY CAMERAS
• GATED PRIVACY FENCE
• DECK ON 2ND FLOOR

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $723 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 3.8% in West Palm Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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: Westward Elementary School (math 30% / reading 29%, grade F, #1,896 of 2,144 statewide, top 90%, 500 students, 81% FRL); Bear Lakes Middle School (math 19% / reading 33%, grade F, #506 of 571 statewide, top 89%, 842 students, 74% FRL); Palm Beach Lakes High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 2,688 students, 70% FRL) — zoned schools average 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 50% district-wide (-24 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 rising fast (+5.2%/yr); 507 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $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.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $55k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 365 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $120k; list at $195k implies a 62% gain — meaningful room to come down on a strong offer.

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 $171,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 365 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. 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?
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: 1.65% ✓
• Cap rate: 10.74%
• Cash-on-cash: 15.89%
• DSCR: 1.71
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.15% rent growth · sell at horizon

5-year hold

• IRR: 9.8%
• Equity multiple: 1.40×
• Total profit: $21,875
• Equity at exit: $29,075

10-year hold

• IRR: 21.1%
• Equity multiple: 3.02×
• Total profit: $110,141
• Equity at exit: $16,860

Cash invested: $54,600 (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 33401

• Rents YoY: 5.2%
• Active inventory: 507
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $3,213 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$248 /mo · $2,974/yr
• Insurance: −$81
• HOA: −$464
• Vacancy / Maint / Mgmt: −$675
• Net cashflow: $723

Break-even live

Break-even rent $2,298

Max offer price $195,000

Occupancy floor 73%

Sensitivity live

Price	-10% $833	-5% $778	+0% $723	+5% $668	+10% $612
Rent	-10% $469	-5% $596	+0% $723	+5% $850	+10% $977
Rate	-1.0pp $821	-0.5pp $772	base $723	+0.5pp $672	+1.0pp $621

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	727	$3,414	$4.70	25d	19	0.79mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	731	$4,365	$5.97	12d	16	0.79mi
1500 Centrepark Blvd West Palm Beach, FL	2.0	1.0–2.0	862	$2,630	$3.05	0d	18	1.07mi
1050 Blanche St West Palm Beach, FL	2.0	1.0–2.0	740	$2,838	$3.83	4d	8	1.10mi
651 Okeechobee Blvd West Palm Beach, FL	1.0–2.0	1.0–2.5	887	$3,000	$3.38	15d	5	1.14mi
591 Evernia St West Palm Beach, FL	2.0	1.0–2.0	943	$4,270	$4.53	0d	22	1.17mi
480 Hibiscus St West Palm Beach, FL	1.0–2.0	1.0–2.0	867	$3,600	$4.15	4d	4	1.32mi
480 Hibiscus St West Palm Beach, FL	1.0–2.0	1.5–2.0	885	$3,495	$3.95	25d	3	1.32mi
499 Evernia St West Palm Beach, FL	2.0	1.0–2.0	827	$3,192	$3.86	0d	26	1.37mi
333 Fern St West Palm Beach, FL	2.0	1.0–2.0	1121	$3,932	$3.51	0d	1	1.41mi
1710 N Congress Ave West Palm Beach, FL	1.0–3.0	1.0–2.0	1210	$2,495	$2.06	25d	4	1.42mi
345 Banyan Blvd West Palm Beach, FL	3.0	1.0–2.0	1023	$4,017	$3.92	2d	19	1.48mi

HOA detail condo

• Monthly dues: $464 · $5,568/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-04-16
   status Pending 720-char remark

   Show marketing remark (720 chars)

   This is a turnkey property. • Gated Community of 128 Units. • Large Swimming Pool w/ covered picnic area. • All Buildings in Eden Place have new roofing as of 2024. • Close access to 1-95, the Outlet Mall, beaches, etc. • Free Water • Security cameras monitor common areas of the community; ie, entrance & exit gates, parking area, pool area, etc. • 627 sq. ft. living space. • HOA Fees: $464/mo. • Units currently renting between: $1,700 to $1,800 per month. • All units have a gated privacy fence around them. • Parking spot is located directly in front of the unit. • Deck on 2nd floor is 8 ft. x 16 ft. with an additional patio area on the 1st floor.

2. 2026-04-01
   status Pending
3. 2026-03-04
   price $192,000 720-char remark

   Show marketing remark (720 chars)

   This is a turnkey property. • Gated Community of 128 Units. • Large Swimming Pool w/ covered picnic area. • All Buildings in Eden Place have new roofing as of 2024. • Close access to 1-95, the Outlet Mall, beaches, etc. • Free Water • Security cameras monitor common areas of the community; ie, entrance & exit gates, parking area, pool area, etc. • 627 sq. ft. living space. • HOA Fees: $464/mo. • Units currently renting between: $1,700 to $1,800 per month. • All units have a gated privacy fence around them. • Parking spot is located directly in front of the unit. • Deck on 2nd floor is 8 ft. x 16 ft. with an additional patio area on the 1st floor.

4. 2025-11-07
   price $195,000 720-char remark

   Show marketing remark (720 chars)

   This is a turnkey property. • Gated Community of 128 Units. • Large Swimming Pool w/ covered picnic area. • All Buildings in Eden Place have new roofing as of 2024. • Close access to 1-95, the Outlet Mall, beaches, etc. • Free Water • Security cameras monitor common areas of the community; ie, entrance & exit gates, parking area, pool area, etc. • 627 sq. ft. living space. • HOA Fees: $464/mo. • Units currently renting between: $1,700 to $1,800 per month. • All units have a gated privacy fence around them. • Parking spot is located directly in front of the unit. • Deck on 2nd floor is 8 ft. x 16 ft. with an additional patio area on the 1st floor.

5. 2025-11-06
   price $195,000
6. 2025-05-14
   price $199,000
7. 2025-04-22
   status Active
8. 2025-03-17
   status Pending
9. 2025-02-24
   listed $205,000 Active
10. 2025-02-22
    listed $199,000 Active 720-char remark

    Show marketing remark (720 chars)

    This is a turnkey property. • Gated Community of 128 Units. • Large Swimming Pool w/ covered picnic area. • All Buildings in Eden Place have new roofing as of 2024. • Close access to 1-95, the Outlet Mall, beaches, etc. • Free Water • Security cameras monitor common areas of the community; ie, entrance & exit gates, parking area, pool area, etc. • 627 sq. ft. living space. • HOA Fees: $464/mo. • Units currently renting between: $1,700 to $1,800 per month. • All units have a gated privacy fence around them. • Parking spot is located directly in front of the unit. • Deck on 2nd floor is 8 ft. x 16 ft. with an additional patio area on the 1st floor.

11. 2024-09-26
    soldstatus $120,000
12. 1984-02-01
    soldstatus $45,900

ⓘ 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: $2,974 · $248/mo
• Projected year-2 tax: $2,974 · $248/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 ≥105°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,560
• − Mortgage interest: −$10,923
• − Property taxes: −$2,974
• − Insurance: −$975
• − Repairs & maintenance: −$3,085
• − Management: −$3,085
• − HOA: −$5,568
• − Depreciation: −$5,673
• Taxable income: $6,277
• Est. tax owed @ 24.0%: −$1,507
• After-tax cash flow: $7,167/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

• Census place: West Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,698
• Household income: $67,967
• Rent vs Own: 62.5% rent · 37.5% own
• Severe rent burden: 2953.0

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 0.68)
• Race & ethnicity: White 43% Black 32% Hispanic / Latino 17% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 3%
• Common ancestry: Hispanic 6% Slovak 2% Romanian 2%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 13% French/Haitian/Cajun 7% Other Asian/Pacific 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: ▼ -324.96%
• Current HPI: 367.0978
• Rent YoY: ▲ 5.15%
• 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

+318.3% since first listed

12 events — show timeline

• 2026-04-16 Pending — PBBOR
• 2026-04-01 Pending — Beaches MLS
• 2026-03-04 Price Changed $192,000 PBBOR
• 2025-11-07 Price Changed $195,000 PBBOR
• 2025-11-06 Price Changed $195,000 Beaches MLS
• 2025-05-14 Price Changed $199,000 Beaches MLS
• 2025-04-22 Relisted — Beaches MLS
• 2025-03-17 Pending — Beaches MLS
• 2025-02-24 Listed $205,000 Beaches MLS
• 2025-02-22 Listed $199,000 PBBOR
• 2024-09-26 Sold (Public Records) $120,000 Public Records
• 1984-02-01 Sold (Public Records) $45,900 Public Records

Property tax history

+25.5%/yr

Latest (2025): $2,974 · +1336.9% YoY. Source: county tax records.