645 Executive Center Dr Unit R-105 · West Palm Beach, FL 33401

$169,000

1 bd · 1.0 ba · 627 sqft · Condo public records · 48 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

IF LOOKING FOR AN UPGRADED UNIT WITH A TENANT ON MONTH TO MONTH, CHECK OUT THIS UNIT. TENANT HAS BEEN THERE FOR 5 YEARS, WOULD LIKE TO STAY. EDEN PLACE IS GATED, HAS 128 UNITS, ALL 1 BDRM/1 BATH CONDOS. YOUR FIRST FLOOR CONDO HAS A FENCED IN COURTYARD WITH ROOM FOR BARBECUE, PATIO FURNITURE AND PLANTS!! FEATURES: LAMINATE FLOORING, FULL SIZE WASHER/DRYER, BREAKFAST BAR, GRANITE COUNTERTOPS, 14' X 14' BEDROOM WITH SPACIOUS CLOSET. BATHROOM HAS A WONDERFUL ROMAN BATHTUB WITH SHOWER, VANITY AND MORE!!! EDEN PLACE HAS A SPACIOUS POOL/PATIO AREA TO ENJOY!!! WATER IS INCLUDED IN YOUR CONDO DUES OF $502.00 PER MONTH, NO ASSESSMENTS. CASH ONLY. .. YOUR CENTRALLY LOCATED BY THE MALL WITH GREAT RES

Key facts

• $502 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Resale condition; Building name: R-645; Total stories: 2
• HOA & community: Association: EDEN PLACE; Monthly HOA fee of $502; HOA covers water, sewer, trash, common areas, and pool service; Community amenities include a pool and gated entry; Community contains 128 units; Pets allowed (cats and dogs; number and size limits apply)

Exterior

• Parking: Asphalt parking with guest spaces; Total of 1 parking space
• Security: Key card entry; Gated community (no guard)
• Utilities: Public water; Public sewer; Electricity available; Cable available; Sewer connected; Water available
• Home design: Condominium; One level; Entry level: 1; Faces north
• Construction: CBS construction; Flat roof
• Exterior features: Wood fencing; Courtyard entry (unit at courtyard gate of R-105); Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Electric water heater
• Bedrooms: One bedroom on the main level
• Flooring: Laminate; Tile
• Bathrooms: One full bathroom
• Heating & cooling: Central electric heating; Central air conditioning
• Interior features: Roman tub
• Laundry & utility: In-unit laundry located in the kitchen (washer/dryer area)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $169k.

Deal economics

• At list price, monthly cash flow is $917 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $169k).
• Recommended offer: $164k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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); 506 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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).
• At $3,213/mo this rent would consume 57% of the median local household income ($68k/yr) (locally 2953% 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 $5k 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 $47k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.

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 $163,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.90% ✓
• Cap rate: 12.80%
• Cash-on-cash: 23.24%
• DSCR: 2.03
• GRM: 4.4

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: 19.3%
• Equity multiple: 1.81×
• Total profit: $38,416
• Equity at exit: $25,198

10-year hold

• IRR: 29.4%
• Equity multiple: 3.97×
• Total profit: $140,389
• Equity at exit: $14,612

Cash invested: $47,320 (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: 506
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $3,213 high
• Mortgage (P&I): −$886
• Tax from tax record: −$163 /mo · $1,954/yr
• Insurance: −$70
• HOA: −$502
• Vacancy / Maint / Mgmt: −$675
• Net cashflow: $917

Break-even live

Break-even rent $2,053

Max offer price $169,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,012	-5% $964	+0% $917	+5% $869	+10% $821
Rent	-10% $663	-5% $790	+0% $917	+5% $1,043	+10% $1,170
Rate	-1.0pp $1,002	-0.5pp $960	base $917	+0.5pp $873	+1.0pp $828

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: $42,250
• Closing costs: $5,070
• 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	11d	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	3d	8	1.10mi
651 Okeechobee Blvd West Palm Beach, FL	1.0–2.0	1.0–2.5	887	$3,000	$3.38	14d	5	1.14mi
591 Evernia St West Palm Beach, FL	2.0	1.0–2.0	943	$4,270	$4.53	0d	25	1.17mi
480 Hibiscus St West Palm Beach, FL	1.0–2.0	1.0–2.0	867	$3,600	$4.15	3d	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	27	1.37mi
333 Fern St West Palm Beach, FL	2.0	1.0–2.0	1121	$3,916	$3.49	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: $502 · $6,024/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $169,000 Active 48 DOM
2. 2026-06-17
   days on market $169,000 Active 47 DOM
3. 2026-06-16
   days on market $169,000 Active 46 DOM
4. 2026-06-15
   days on market $169,000 Active 45 DOM
5. 2026-06-13
   days on market $169,000 Active 43 DOM
6. 2026-06-09
   days on market $169,000 Active 39 DOM
7. 2026-06-08
   days on market $169,000 Active 38 DOM
8. 2026-06-07
   days on market $169,000 Active 37 DOM
9. 2026-06-04
   days on market $169,000 Active 34 DOM
10. 2026-06-03
    days on market $169,000 Active 33 DOM
11. 2026-06-02
    days on market $169,000 Active 32 DOM
12. 2026-06-01
    days on market $169,000 Active 31 DOM
13. 2026-05-31
    days on market $169,000 Active 30 DOM
14. 2026-05-01
    listed $169,000 Active
15. 1993-12-10
    soldstatus $195,000
16. 1986-01-01
    soldstatus $550,000

ⓘ 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: $1,954 · $163/mo
• Projected year-2 tax: $1,954 · $163/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: $38,553
• − Mortgage interest: −$9,467
• − Property taxes: −$1,954
• − Insurance: −$845
• − Repairs & maintenance: −$3,084
• − Management: −$3,084
• − HOA: −$6,024
• − Depreciation: −$4,916
• Taxable income: $9,178
• Est. tax owed @ 24.0%: −$2,203
• After-tax cash flow: $8,796/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

-69.3% since first listed

3 events — show timeline

• 2026-05-01 Listed $169,000 Beaches MLS
• 1993-12-10 Sold (Public Records) $195,000 Public Records
• 1986-01-01 Sold (Public Records) $550,000 Public Records

Property tax history

+9.1%/yr

Latest (2025): $1,954 · +0.9% YoY. Source: county tax records.