411 Executive Center Dr #209 · West Palm Beach, FL 33401

$163,000

1 bd · 1.0 ba · 700 sqft · Condo public records · 283 Days on market

Built 1971 $352/mo HOA · 11% 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

1/1 second floor condo with view of the grounds. This is a Freddie Mac First Look Property. All owner occupant offers are reviewed after the property is on the market for 2 days. Investor offers are reviewed after the property is on the market for 15 days. Please downoad the required offer doucments from eithr the attachments section of MLS or the Taza Link located in the broker remarks. Please make sure all of the required documents listed on the coversheet are inlcuded your offer submission. Please sure all documents are uploaded as ONE file in Taza.

Key facts

• Tile floors
• Galley kitchen
• Private balcony

Tags

• PRIVATE BALCONY
• TILE FLOORS
• GALLEY KITCHEN
• FULL-SIZE APPLIANCES
• WALK-IN CLOSET
• TUB SHOWER BATH

Property features AI

Finance

• Financial info: Pets allowed with restrictions
• HOA & community: Monthly association fee; Association fee includes amenities, common areas, grounds maintenance, structure maintenance, parking, roof, sewer, trash and water; Community amenities include laundry facilities, barbecue, picnic area, playground, pool and tennis courts

Exterior

• Parking: Open guest parking; One assigned open parking space
• Security: Smoke detectors
• Utilities: Electric service; Water service; Sewer service
• Home design: Attached property; 2-story building; Entry on level 2
• Construction: Block construction; Resale property
• Exterior features: Balcony; Open balcony

Interior

• Kitchen: Dishwasher; Electric range; Garbage disposal; Refrigerator; Electric water heater
• Bedrooms: Bedroom located on the main level
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: First floor entry; Bedroom on main level; Tile flooring
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $163k.

Deal economics

• At list price, monthly cash flow is $981 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $163k).
• Recommended offer: $143k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.5% 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; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 $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 $46k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 283 days — a 12% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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 $32k; list at $163k implies a 417% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $143,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 283 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 1971 — 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: 1.89% ✓
• Cap rate: 13.52%
• Cash-on-cash: 25.80%
• DSCR: 2.15
• 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: 22.3%
• Equity multiple: 1.95×
• Total profit: $43,152
• Equity at exit: $24,304

10-year hold

• IRR: 32.0%
• Equity multiple: 4.25×
• Total profit: $148,289
• Equity at exit: $14,093

Cash invested: $45,640 (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: 4.4×

Monthly cashflow live

• Estimated rent: $3,084 high
• Mortgage (P&I): −$855
• Tax from tax record: −$180 /mo · $2,164/yr
• Insurance: −$68
• HOA: −$352
• Vacancy / Maint / Mgmt: −$648
• Net cashflow: $981

Break-even live

Break-even rent $1,842

Max offer price $163,000

Occupancy floor 63%

Sensitivity live

Price	-10% $1,074	-5% $1,027	+0% $981	+5% $935	+10% $889
Rent	-10% $738	-5% $860	+0% $981	+5% $1,103	+10% $1,225
Rate	-1.0pp $1,063	-0.5pp $1,023	base $981	+0.5pp $939	+1.0pp $896

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: $40,750
• Closing costs: $4,890
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	0.96mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	731	$4,365	$5.97	12d	16	0.96mi
1500 Centrepark Blvd West Palm Beach, FL	2.0	1.0–2.0	862	$2,630	$3.05	1d	18	1.23mi
1050 Blanche St West Palm Beach, FL	2.0	1.0–2.0	740	$2,838	$3.83	4d	8	1.32mi
591 Evernia St West Palm Beach, FL	2.0	1.0–2.0	943	$4,270	$4.53	0d	22	1.35mi
651 Okeechobee Blvd West Palm Beach, FL	1.0–2.0	1.0–2.5	887	$3,000	$3.38	15d	5	1.36mi

HOA detail condo

• Monthly dues: $352 · $4,224/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $163,000 Active 283 DOM
2. 2026-06-18
   days on market $163,000 Active 280 DOM
3. 2026-06-17
   days on market $163,000 Active 279 DOM
4. 2026-06-16
   days on market $163,000 Active 278 DOM
5. 2026-06-15
   days on market $163,000 Active 277 DOM
6. 2026-06-13
   days on market $163,000 Active 275 DOM
7. 2026-06-09
   days on market $163,000 Active 271 DOM
8. 2026-06-07
   days on market $163,000 Active 269 DOM
9. 2026-06-04
   days on market $163,000 Active 266 DOM
10. 2026-06-03
    days on market $163,000 Active 265 DOM
11. 2026-06-01
    days on market $163,000 Active 263 DOM
12. 2026-05-31
    days on market $163,000 Active 262 DOM
13. 2026-05-09
    status Active
14. 2025-09-10
    listed $163,000 Active
15. 2013-07-09
    soldstatus $31,500
16. 2013-06-26
    soldstatus $31,500 Closed 558-char remark

    Show marketing remark (558 chars)

    1/1 second floor condo with view of the grounds. This is a Freddie Mac First Look Property. All owner occupant offers are reviewed after the property is on the market for 2 days. Investor offers are reviewed after the property is on the market for 15 days. Please downoad the required offer doucments from eithr the attachments section of MLS or the Taza Link located in the broker remarks. Please make sure all of the required documents listed on the coversheet are inlcuded your offer submission. Please sure all documents are uploaded as ONE file in Taza.

17. 2013-06-22
    status Pending 558-char remark

    Show marketing remark (558 chars)

    1/1 second floor condo with view of the grounds. This is a Freddie Mac First Look Property. All owner occupant offers are reviewed after the property is on the market for 2 days. Investor offers are reviewed after the property is on the market for 15 days. Please downoad the required offer doucments from eithr the attachments section of MLS or the Taza Link located in the broker remarks. Please make sure all of the required documents listed on the coversheet are inlcuded your offer submission. Please sure all documents are uploaded as ONE file in Taza.

18. 2013-05-24
    status Pending 558-char remark

    Show marketing remark (558 chars)

    1/1 second floor condo with view of the grounds. This is a Freddie Mac First Look Property. All owner occupant offers are reviewed after the property is on the market for 2 days. Investor offers are reviewed after the property is on the market for 15 days. Please downoad the required offer doucments from eithr the attachments section of MLS or the Taza Link located in the broker remarks. Please make sure all of the required documents listed on the coversheet are inlcuded your offer submission. Please sure all documents are uploaded as ONE file in Taza.

19. 2013-02-07
    listed Contingent 558-char remark

    Show marketing remark (558 chars)

    1/1 second floor condo with view of the grounds. This is a Freddie Mac First Look Property. All owner occupant offers are reviewed after the property is on the market for 2 days. Investor offers are reviewed after the property is on the market for 15 days. Please downoad the required offer doucments from eithr the attachments section of MLS or the Taza Link located in the broker remarks. Please make sure all of the required documents listed on the coversheet are inlcuded your offer submission. Please sure all documents are uploaded as ONE file in Taza.

ⓘ 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: $2,164 · $180/mo
• Projected year-2 tax: $2,164 · $180/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 · 26 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: $37,009
• − Mortgage interest: −$9,131
• − Property taxes: −$2,164
• − Insurance: −$815
• − Repairs & maintenance: −$2,961
• − Management: −$2,961
• − HOA: −$4,224
• − Depreciation: −$4,742
• Taxable income: $10,012
• Est. tax owed @ 24.0%: −$2,403
• After-tax cash flow: $9,373/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

+417.5% since first listed

7 events — show timeline

• 2026-05-09 Relisted — MARMLS
• 2025-09-10 Listed $163,000 MARMLS
• 2013-07-09 Sold (Public Records) $31,500 Public Records
• 2013-06-26 Sold (MLS) $31,500 Beaches MLS
• 2013-06-22 Pending — Beaches MLS
• 2013-05-24 Pending — Beaches MLS
• 2013-02-07 Listed — Beaches MLS

Property tax history

+10.2%/yr

Latest (2025): $2,164 · +8.7% YoY. Source: county tax records.