637 Executive Center Dr Unit N102 · West Palm Beach, FL 33401

$148,900

1 bd · 1.0 ba · 627 sqft · Condo public records · 121 Days on market

Built 1984 $502/mo HOA · 16% 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 +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
• Livability +4.1/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Motivated Seller! Significant Price Reduction for a Quick Sale. Excellent opportunity to own a 1-bedroom, 1-bath condo in a prime West Palm Beach location. Conveniently located just minutes from Downtown West Palm Beach, Palm Beach International Airport, major highways, shopping, dining, and only about 5 minutes from the Palm Beach Outlets. Currently tenant-occupied through October 31, generating $1,700/month in rental income, making it an ideal investment property. Also a great option for a future primary residence in a highly desirable area. Don't miss this opportunity to secure a property with income potential and outstanding location at an attractive price. Schedule your showing today!

Key facts

• Stable income
• $502 HOA
• Garage

Tags

• IN UNIT WASHER AND DRYER
• QUIET DEAD END STREET
• STABLE INCOME

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee; HOA fee $502 per month; HOA includes cable TV, insurance, grounds maintenance, trash, water, common areas; Community amenities: parking, pool; Pets allowed with size limit

Exterior

• Parking: Assigned parking; Guest parking; Garage parking; 1 covered space; 1 open parking space; 1 garage space
• Utilities: No utilities listed
• Home design: Condominium; 2-story building; Unit faces north
• Construction: Built with stucco and concrete block (CBS)
• Exterior features: Not waterfront; No waterfront features listed

Interior

• Bedrooms: 1 bedroom on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Unfurnished; No special interior features listed

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $149k.

Deal economics

• At list price, monthly cash flow is $951 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $149k).
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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 $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 + 5.2% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y ago; this cycle's ask has dropped $21k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $104k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $131,032 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 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: 2.14% ✓
• Cap rate: 13.96%
• Cash-on-cash: 27.38%
• DSCR: 2.22
• GRM: 3.9

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: 24.6%
• Equity multiple: 2.05×
• Total profit: $43,876
• Equity at exit: $22,201

10-year hold

• IRR: 34.1%
• Equity multiple: 4.55×
• Total profit: $147,952
• Equity at exit: $12,874

Cash invested: $41,692 (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: 3.9×

Monthly cashflow live

• Estimated rent: $3,187 high
• Mortgage (P&I): −$781
• Tax from tax record: −$222 /mo · $2,660/yr
• Insurance: −$62
• HOA: −$502
• Vacancy / Maint / Mgmt: −$669
• Net cashflow: $951

Break-even live

Break-even rent $1,983

Max offer price $148,900

Occupancy floor 65%

Sensitivity live

Price	-10% $1,036	-5% $993	+0% $951	+5% $909	+10% $867
Rent	-10% $699	-5% $825	+0% $951	+5% $1,077	+10% $1,203
Rate	-1.0pp $1,026	-0.5pp $989	base $951	+0.5pp $913	+1.0pp $873

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: $37,225
• Closing costs: $4,467
• 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	26d	19	0.86mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	731	$4,365	$5.97	13d	16	0.86mi
1500 Centrepark Blvd West Palm Beach, FL	2.0	1.0–2.0	862	$2,630	$3.05	1d	18	1.01mi
1050 Blanche St West Palm Beach, FL	2.0	1.0–2.0	740	$2,838	$3.83	4d	8	1.09mi
651 Okeechobee Blvd West Palm Beach, FL	1.0–2.0	1.0–2.5	887	$3,000	$3.38	16d	5	1.19mi
591 Evernia St West Palm Beach, FL	2.0	1.0–2.0	943	$4,270	$4.53	0d	21	1.24mi
1409 Florida Ave West Palm Beach, FL	2.0	1.0	720	$3,600	$5.00	0d	1	1.37mi
480 Hibiscus St West Palm Beach, FL	1.0–2.0	1.5–2.0	885	$3,495	$3.95	26d	3	1.38mi
480 Hibiscus St West Palm Beach, FL	1.0–2.0	1.0–2.0	867	$3,600	$4.15	5d	4	1.38mi
499 Evernia St West Palm Beach, FL	2.0	1.0–2.0	827	$3,192	$3.86	1d	26	1.43mi
333 Fern St West Palm Beach, FL	2.0	1.0–2.0	1121	$3,974	$3.54	0d	1	1.48mi
1710 N Congress Ave West Palm Beach, FL	1.0–3.0	1.0–2.0	1210	$2,495	$2.06	26d	4	1.48mi

HOA detail condo

• Monthly dues: $502 · $6,024/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-21
   days on market $148,900 Active 121 DOM
2. 2026-06-18
   days on market $148,900 Active 118 DOM
3. 2026-06-17
   days on market $148,900 Active 117 DOM
4. 2026-06-16
   days on market $148,900 Active 116 DOM
5. 2026-06-15
   days on market $148,900 Active 115 DOM
6. 2026-06-13
   days on market $148,900 Active 113 DOM
7. 2026-06-09
   days on market $148,900 Active 109 DOM
8. 2026-06-07
   remarks 698-char remark
9. 2026-06-07
   pricedays on market $148,900 Active 107 DOM
10. 2026-06-04
    days on market $159,900 Active 104 DOM
11. 2026-06-03
    days on market $159,900 Active 103 DOM
12. 2026-06-01
    days on market $159,900 Active 101 DOM
13. 2026-05-31
    days on market $159,900 Active 100 DOM
14. 2026-05-14
    status Active
15. 2026-05-14
    price $159,900
16. 2026-05-08
    historical Active Under Contract
17. 2026-04-15
    price $149,000
18. 2026-04-04
    price $165,000
19. 2026-03-21
    price $168,000
20. 2026-02-20
    listed $170,000 Active
21. 2026-02-10
    historical
22. 2025-12-16
    status Active
23. 2025-12-15
    historical
24. 2025-11-04
    price $169,500
25. 2025-09-22
    price $170,000
26. 2025-08-11
    price $175,000
27. 2025-05-12
    listed $179,000 Active
28. 2025-05-05
    historical
29. 2025-05-01
    listed $185,000 Active
30. 2024-05-20
    historical
31. 2024-04-22
    price $185,000
32. 2024-04-06
    price $187,000
33. 2023-11-12
    price $190,000
34. 2023-09-23
    listed $192,000 Active
35. 2023-01-28
    historical
36. 2023-01-24
    price $215,000
37. 2023-01-12
    status Active
38. 2022-12-17
    historical
39. 2022-11-18
    listed $222,000 Active
40. 2019-11-20
    soldstatus $104,000

ⓘ 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: $2,660 · $222/mo
• Projected year-2 tax: $2,660 · $222/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: $38,244
• − Mortgage interest: −$8,341
• − Property taxes: −$2,660
• − Insurance: −$744
• − Repairs & maintenance: −$3,060
• − Management: −$3,060
• − HOA: −$6,024
• − Depreciation: −$4,332
• Taxable income: $10,025
• Est. tax owed @ 24.0%: −$2,406
• After-tax cash flow: $9,009/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

+53.8% since first listed

27 events — show timeline

• 2026-05-14 Relisted — Beaches MLS
• 2026-05-14 Price Changed $159,900 Beaches MLS
• 2026-05-08 Contingent — Beaches MLS
• 2026-04-15 Price Changed $149,000 Beaches MLS
• 2026-04-04 Price Changed $165,000 Beaches MLS
• 2026-03-21 Price Changed $168,000 Beaches MLS
• 2026-02-20 Listed $170,000 Beaches MLS
• 2026-02-10 Listing Removed — MARMLS
• 2025-12-16 Relisted — MARMLS
• 2025-12-15 Listing Removed — MARMLS
• 2025-11-04 Price Changed $169,500 MARMLS
• 2025-09-22 Price Changed $170,000 MARMLS
• 2025-08-11 Price Changed $175,000 MARMLS
• 2025-05-12 Listed $179,000 MARMLS
• 2025-05-05 Listing Removed — Beaches MLS
• 2025-05-01 Listed $185,000 Beaches MLS
• 2024-05-20 Listing Removed — Beaches MLS
• 2024-04-22 Price Changed $185,000 Beaches MLS
• 2024-04-06 Price Changed $187,000 Beaches MLS
• 2023-11-12 Price Changed $190,000 Beaches MLS
• 2023-09-23 Listed $192,000 Beaches MLS
• 2023-01-28 Listing Removed — Beaches MLS
• 2023-01-24 Price Changed $215,000 Beaches MLS
• 2023-01-12 Relisted — Beaches MLS
• 2022-12-17 Listing Removed — Beaches MLS
• 2022-11-18 Listed $222,000 Beaches MLS
• 2019-11-20 Sold (Public Records) $104,000 Public Records

Property tax history

+24.5%/yr

Latest (2025): $2,660 · +3.2% YoY. Source: county tax records.