470 Executive Center Dr Unit 2k · West Palm Beach, FL 33401

$133,850

1 bd · 1.0 ba · 704 sqft · Condo public records · 158 Days on market

Built 1979 $606/mo HOA · 19% 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 MLS

Spacious, second floor, one-bedroom one-bath condo with west-facing terrace. Large bedroom, kitchen with pass-thru to living/dining area, 4 closets (2-walk-ins), hurricane shutters. Laundry and Bonus Storage area in building. Amenities include Pool, Tennis, Clubhouse, Fitness area, Sauna, Barbecue and more. Close to I-95, Palm Beach Outlet Mall, Target and PB International Airport.

Key facts

• Guest parking
• Assigned parking
• $606 HOA

Tags

• LARGE LIVING AND DINING AREA
• PLENTY OF CLOSET SPACE
• ELEVATOR IN THE BUILDING
• LAUNDRY ROOM IN THE BUILDING
• ASSIGNED PARKING
• GUEST PARKING

Property features AI

Finance

• Other: Building area listed as 704; Stories total: 5
• HOA & community: Monthly HOA fee; Association amenities include clubhouse, elevators, fitness center, game room, on-site management, manager on site, laundry, pool, sauna, storage, picnic area, tennis courts, community room, and trash chute; HOA fee covers insurance, grounds maintenance, structure maintenance, sewer, water, and common areas; Pets allowed (restrictions possible); Community contains 195 units

Exterior

• Parking: Assigned parking; Guest parking
• Security: Smoke detector(s); Security system; Gated community (no guard)
• Utilities: Public water; Public sewer; Cable available; Water and sewer available
• Home design: Condominium; Resale property; Faces west; 5-story building
• Construction: CBS construction
• Exterior features: Patio; Not waterfront

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central electric heating; Ceiling fan(s)
• Interior features: Walk-in closet(s); Blinds; Unfurnished
• Laundry & utility: Laundry available in the building

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $134k.

Deal economics

• At list price, monthly cash flow is $980 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $134k).
• Recommended offer: $118k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.1% 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; 11 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 $926 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 $37k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago 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 $65k; list at $134k implies a 106% 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 $117,788 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 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 1979 — 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: 2.39% ✓
• Cap rate: 15.08%
• Cash-on-cash: 31.38%
• DSCR: 2.40
• GRM: 3.5

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: 29.6%
• Equity multiple: 2.29×
• Total profit: $48,256
• Equity at exit: $19,957

10-year hold

• IRR: 38.6%
• Equity multiple: 5.12×
• Total profit: $154,538
• Equity at exit: $11,573

Cash invested: $37,478 (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: 3.5×

Monthly cashflow live

• Estimated rent: $3,205 high
• Mortgage (P&I): −$702
• Tax from tax record: −$188 /mo · $2,258/yr
• Insurance: −$56
• HOA: −$606
• Vacancy / Maint / Mgmt: −$673
• Net cashflow: $980

Break-even live

Break-even rent $1,964

Max offer price $133,850

Occupancy floor 64%

Sensitivity live

Price	-10% $1,056	-5% $1,018	+0% $980	+5% $942	+10% $904
Rent	-10% $727	-5% $854	+0% $980	+5% $1,107	+10% $1,233
Rate	-1.0pp $1,048	-0.5pp $1,014	base $980	+0.5pp $946	+1.0pp $910

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: $33,462
• Closing costs: $4,016
• Reserves months: —
• Total cash needed: —

Rent comps 11 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	0.85mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	731	$4,365	$5.97	12d	16	0.85mi
591 Evernia St West Palm Beach, FL	2.0	1.0–2.0	943	$4,270	$4.53	0d	22	1.24mi
651 Okeechobee Blvd West Palm Beach, FL	1.0–2.0	1.0–2.5	887	$3,000	$3.38	15d	5	1.29mi
1500 Centrepark Blvd West Palm Beach, FL	2.0	1.0–2.0	862	$2,630	$3.05	1d	18	1.35mi
1050 Blanche St West Palm Beach, FL	2.0	1.0–2.0	740	$2,838	$3.83	4d	8	1.36mi
499 Evernia St West Palm Beach, FL	2.0	1.0–2.0	827	$3,192	$3.86	0d	26	1.43mi
480 Hibiscus St West Palm Beach, FL	1.0–2.0	1.0–2.0	867	$3,600	$4.15	4d	4	1.44mi
480 Hibiscus St West Palm Beach, FL	1.0–2.0	1.5–2.0	885	$3,495	$3.95	26d	3	1.44mi
333 Fern St West Palm Beach, FL	2.0	1.0–2.0	1121	$3,932	$3.51	0d	1	1.49mi
1710 N Congress Ave West Palm Beach, FL	1.0–3.0	1.0–2.0	1210	$2,495	$2.06	26d	4	1.50mi

HOA detail condo

• Monthly dues: $606 · $7,272/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-21
   days on market $133,850 Active 158 DOM
2. 2026-06-18
   days on market $133,850 Active 155 DOM
3. 2026-06-17
   days on market $133,850 Active 154 DOM
4. 2026-06-16
   days on market $133,850 Active 153 DOM
5. 2026-06-15
   days on market $133,850 Active 152 DOM
6. 2026-06-13
   days on market $133,850 Active 150 DOM
7. 2026-06-09
   days on market $133,850 Active 146 DOM
8. 2026-06-07
   days on market $133,850 Active 144 DOM
9. 2026-06-04
   days on market $133,850 Active 141 DOM
10. 2026-06-03
    days on market $133,850 Active 140 DOM
11. 2026-06-01
    days on market $133,850 Active 138 DOM
12. 2026-05-31
    days on market $133,850 Active 137 DOM
13. 2026-01-14
    listed $133,850 Active
14. 2026-01-01
    historical
15. 2025-06-12
    listed $140,000 Active
16. 2024-08-09
    historical $1,425
17. 2024-04-19
    listed $1,425
18. 2017-06-07
    soldstatus $65,000
19. 2017-05-30
    soldstatus $65,000 Closed 384-char remark

    Show marketing remark (384 chars)

    Spacious, second floor, one-bedroom one-bath condo with west-facing terrace. Large bedroom, kitchen with pass-thru to living/dining area, 4 closets (2-walk-ins), hurricane shutters. Laundry and Bonus Storage area in building. Amenities include Pool, Tennis, Clubhouse, Fitness area, Sauna, Barbecue and more. Close to I-95, Palm Beach Outlet Mall, Target and PB International Airport.

20. 2017-05-23
    status Pending 384-char remark

    Show marketing remark (384 chars)

    Spacious, second floor, one-bedroom one-bath condo with west-facing terrace. Large bedroom, kitchen with pass-thru to living/dining area, 4 closets (2-walk-ins), hurricane shutters. Laundry and Bonus Storage area in building. Amenities include Pool, Tennis, Clubhouse, Fitness area, Sauna, Barbecue and more. Close to I-95, Palm Beach Outlet Mall, Target and PB International Airport.

21. 2017-04-30
    status Active 384-char remark

    Show marketing remark (384 chars)

    Spacious, second floor, one-bedroom one-bath condo with west-facing terrace. Large bedroom, kitchen with pass-thru to living/dining area, 4 closets (2-walk-ins), hurricane shutters. Laundry and Bonus Storage area in building. Amenities include Pool, Tennis, Clubhouse, Fitness area, Sauna, Barbecue and more. Close to I-95, Palm Beach Outlet Mall, Target and PB International Airport.

22. 2017-04-28
    historical Active Under Contract 384-char remark

    Show marketing remark (384 chars)

    Spacious, second floor, one-bedroom one-bath condo with west-facing terrace. Large bedroom, kitchen with pass-thru to living/dining area, 4 closets (2-walk-ins), hurricane shutters. Laundry and Bonus Storage area in building. Amenities include Pool, Tennis, Clubhouse, Fitness area, Sauna, Barbecue and more. Close to I-95, Palm Beach Outlet Mall, Target and PB International Airport.

23. 2017-04-07
    status Pending 384-char remark

    Show marketing remark (384 chars)

    Spacious, second floor, one-bedroom one-bath condo with west-facing terrace. Large bedroom, kitchen with pass-thru to living/dining area, 4 closets (2-walk-ins), hurricane shutters. Laundry and Bonus Storage area in building. Amenities include Pool, Tennis, Clubhouse, Fitness area, Sauna, Barbecue and more. Close to I-95, Palm Beach Outlet Mall, Target and PB International Airport.

24. 2017-03-27
    listed $70,000 Active 384-char remark

    Show marketing remark (384 chars)

    Spacious, second floor, one-bedroom one-bath condo with west-facing terrace. Large bedroom, kitchen with pass-thru to living/dining area, 4 closets (2-walk-ins), hurricane shutters. Laundry and Bonus Storage area in building. Amenities include Pool, Tennis, Clubhouse, Fitness area, Sauna, Barbecue and more. Close to I-95, Palm Beach Outlet Mall, Target and PB International Airport.

25. 1991-01-31
    soldstatus $26,500

ⓘ 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: $2,258 · $188/mo
• Projected year-2 tax: $2,258 · $188/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: $38,461
• − Mortgage interest: −$7,498
• − Property taxes: −$2,258
• − Insurance: −$669
• − Repairs & maintenance: −$3,077
• − Management: −$3,077
• − HOA: −$7,272
• − Depreciation: −$3,894
• Taxable income: $10,717
• Est. tax owed @ 24.0%: −$2,572
• After-tax cash flow: $9,190/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

+405.1% since first listed

13 events — show timeline

• 2026-01-14 Listed $133,850 Beaches MLS
• 2026-01-01 Listing Removed — Beaches MLS
• 2025-06-12 Listed $140,000 Beaches MLS
• 2024-08-09 Rental Removed $1,425 GFLMLS
• 2024-04-19 Listed for Rent $1,425 GFLMLS
• 2017-06-07 Sold (Public Records) $65,000 Public Records
• 2017-05-30 Sold (MLS) $65,000 Beaches MLS
• 2017-05-23 Pending — Beaches MLS
• 2017-04-30 Relisted — Beaches MLS
• 2017-04-28 Contingent — Beaches MLS
• 2017-04-07 Pending — Beaches MLS
• 2017-03-27 Listed $70,000 Beaches MLS
• 1991-01-31 Sold (Public Records) $26,500 Public Records

Property tax history

+23.0%/yr

Latest (2025): $2,258 · +3.6% YoY. Source: county tax records.