729 Ilex Ct · Lake Park, FL 33403

$480,000

4 bd · 3.0 ba · 1,754 sqft · SingleFamily public records · 27 Days on market

Built 1957 0.29 ac lot Est $617k · 22% under

---

Why this score? — see what drove the C 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 +17.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• 1% rule +5.4/10.0
• Schools +4.3/10.0
• Rent growth +4.0/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover this spacious 4-bedroom, 2-bathroom gem tucked away on a quiet cul-de-sac in the heart of the 33403 area. Spanning over 1,750 sq. ft. , this home offers the perfect blend of indoor-outdoor Florida living. The open-concept layout flows naturally toward a large, fenced backyard—your private oasis for weekend BBQs or morning coffee. Located just minutes from the vibrant Kelsey Park and the small-town charm of Park Avenue's shops and dining, you're also a short drive from the pristine sands of Singer Island and Peanut Island. With a generous lot size and a detached feel, this is the perfect canvas to create your dream South Florida lifestyle. No HOA means freedom to bring your bo

Key facts

• Detached feel
• Private oasis
• Cul-de-sac

Tags

• CUL-DE-SAC
• FENCED BACKYARD
• PRIVATE OASIS
• GENEROUS LOT SIZE
• DETACHED FEEL
• NO HOA

Property features AI

Finance

• Other: Oversized lot; City street frontage; Asphalt road surface; Not waterfront

Exterior

• Parking: Attached garage (1 space); Covered parking (1 space); Driveway with additional open parking (total parking listed as 4 spaces)
• Utilities: Public water; Public sewer; Natural gas connected; Cable available; Phone available; Water connected
• Home design: Single-family residence; One story; South-facing; Resale property; Solar panels
• Construction: Built with block, brick, and stucco (CBS); Metal roof; Slab foundation; Living area approximately 1,754 sq ft; Total building area approximately 2,162 sq ft
• Exterior features: Front porch; Fenced backyard

Interior

• Kitchen: Dishwasher (ENERGY STAR qualified); Electric range; Microwave; Refrigerator (ENERGY STAR qualified)
• Bedrooms: One main-level bedroom
• Flooring: Tile
• Bathrooms: Two full bathrooms (one on the main level)
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Kitchen island; Storm windows
• Laundry & utility: In-unit washer and dryer (ENERGY STAR qualified dryer and washer)

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $480k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $480k).
• Recommended offer: $473k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#542 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: crime F, amenities F, commute 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: Lake Park Elementary School (math 57% / reading 62%, grade B-, #690 of 2,144 statewide, top 34%, 389 students, 83% FRL); Howell L. Watkins Middle School (math 18% / reading 33%, grade F, #512 of 571 statewide, top 90%, 794 students, 76% FRL); Palm Beach Gardens High School (math 19% / reading 40%, grade F, #447 of 667 statewide, top 68%, 2,570 students, 61% FRL) — zoned schools average 74% FRL vs 52% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.0%/yr); 134 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $4,980/mo this rent would consume 85% of the median local household income ($71k/yr) (locally 903% 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 $3k of loan paydown is wiped out by about $14k 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.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($473k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $127k; list at $480k implies a 278% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $472,800 (1.5% below list)

Questions for the listing agent

1. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 7.22%
• Cash-on-cash: 3.32%
• DSCR: 1.15
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $617,408
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
830 Seminole Blvd	0.23mi	3/2.5 (-1)	1,700 (-3%)	14mo	$599,000	$352	66

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.97% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.71×
• Total profit: $-38,584
• Equity at exit: $71,570

10-year hold

• IRR: 5.7%
• Equity multiple: 1.48×
• Total profit: $64,608
• Equity at exit: $41,502

Cash invested: $134,400 (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 33403

• Home prices YoY: -19.6%
• Rents YoY: 6.0%
• Active inventory: 134
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $4,980 high
• Mortgage (P&I): −$2,517
• Tax from tax record: −$846 /mo · $10,149/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,046
• Net cashflow: $371

Break-even live

Break-even rent $4,510

Max offer price $480,000

Occupancy floor 88%

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: $120,000
• Closing costs: $14,400
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 Hawthorne Dr West Palm Beach, FL	3.0	2.0	1402	$3,200	$2.28	24d	1	0.53mi
620 Southwind Cir Unit A North Palm Beach, FL	3.0	2.0	1697	$4,200	$2.47	24d	1	0.59mi
624 Southwind Cir Unit 3 North Palm Beach, FL	3.0	3.0	1316	$5,500	$4.18	24d	1	0.59mi
815 Silver Beach Rd Lake Park, FL	4.0	3.0	1480	$3,000	$2.03	24d	1	0.61mi
250 Foresteria Dr West Palm Beach, FL	4.0	3.0	2080	$11,500	$5.53	20d	1	0.67mi
549 Fairwind Dr North Palm Beach, FL	3.0	2.0	1498	$5,000	$3.34	24d	1	0.79mi
2573 Conroy Dr West Palm Beach, FL	5.0	3.0	2153	$5,950	$2.76	24d	1	0.81mi
517 Gulf Rd North Palm Beach, FL	3.0	2.0	1657	$5,500	$3.32	24d	1	0.86mi
220 Lake Shore Dr Lake Park, FL	1.0–3.0	1.5–3.5	1575	$25,000	$15.87	5d	18	1.00mi
111 W 35th St Riviera Beach, FL	4.0	2.0	1600	$3,000	$1.88	11d	1	1.02mi
429 Inlet Rd North Palm Beach, FL	3.0	2.5	1452	$6,500	$4.48	24d	1	1.03mi
1389 W 33rd St Riviera Beach, FL	4.0	3.0	1737	$3,000	$1.73	24d	1	1.04mi
547 Marlin Rd North Palm Beach, FL	3.0	2.0	1880	$9,900	$5.27	24d	1	1.14mi
708 Westwind Dr North Palm Beach, FL	3.0	2.0	1761	$4,000	$2.27	24d	1	1.16mi
520 W 28th St Riviera Beach, FL	3.0	1.0	1296	$6,000	$4.63	3d	1	1.18mi
712 Tradewind Dr North Palm Beach, FL	4.0	3.0	1616	$6,500	$4.02	24d	1	1.24mi
908 Lighthouse Dr North Palm Beach, FL	3.0	2.0	1478	$4,250	$2.88	24d	1	1.25mi
736 Prosperity Farms Rd North Palm Beach, FL	4.0	2.0	1556	$6,950	$4.47	24d	1	1.28mi
735 Tradewind Dr North Palm Beach, FL	4.0	2.0	1901	$6,700	$3.52	24d	1	1.29mi
2226 Oakmont Dr Riviera Beach, FL	3.0	2.5	1972	$2,850	$1.45	24d	1	1.37mi
756 Cinnamon Rd North Palm Beach, FL	4.0	2.0	1324	$6,600	$4.98	24d	1	1.48mi
135 E 28th St Riviera Beach, FL	4.0	2.0	1711	$3,200	$1.87	24d	1	1.49mi

Listing history 15 events

1. 2026-06-10
   status $480,000 Pending 27 DOM
2. 2026-06-09
   days on market $480,000 Active 27 DOM
3. 2026-06-08
   days on market $480,000 Active 26 DOM
4. 2026-06-07
   days on market $480,000 Active 25 DOM
5. 2026-06-04
   days on market $480,000 Active 22 DOM
6. 2026-06-03
   days on market $480,000 Active 21 DOM
7. 2026-06-02
   days on market $480,000 Active 20 DOM
8. 2026-06-02
   price $480,000 Active 19 DOM
9. 2026-06-01
   days on market $500,000 Active 19 DOM
10. 2026-05-31
    days on market $500,000 Active 18 DOM
11. 2026-05-13
    listed $550,000 Active
12. 2003-03-05
    soldstatus $127,000
13. 2002-02-21
    soldstatus $117,000
14. 1998-02-10
    soldstatus $92,300
15. 1981-10-01
    soldstatus $45,000

ⓘ 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: $10,149 · $846/mo
• Projected year-2 tax: $10,149 · $846/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 ≥106°F today · 24 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $59,760
• − Mortgage interest: −$26,887
• − Property taxes: −$10,149
• − Insurance: −$2,400
• − Repairs & maintenance: −$4,781
• − Management: −$4,781
• − Depreciation: −$13,964
• Taxable loss: −$3,202
• Est. tax savings @ 24.0%: +$768
• After-tax cash flow: $5,224/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 — Lake Park

• Score: 67/100
• State rank: #542
• US rank: #10167

Category grades

Amenities F Commute F Cost of living A- 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: Lake Park, FL
• County: Palm Beach County · 1,438,312 people
• City population: 14,370
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 14,370
• Household income: $70,646
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 903.0

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 0.67)
• Race & ethnicity: Black 46% White 31% Hispanic / Latino 17% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 5%
• Common ancestry: Hispanic 15% Italian 2% Romanian 1%
• Foreign-born: 26% · Canada, China, Jamaica
• Languages at home: 69% English-only · French/Haitian/Cajun 17% Spanish 12% Chinese 1%

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: ▼ -112.30%
• Current HPI: 461.4045
• Rent YoY: ▲ 5.97%
• 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

+1122.2% since first listed

5 events — show timeline

• 2026-05-13 Listed $550,000 Beaches MLS
• 2003-03-05 Sold (Public Records) $127,000 Public Records
• 2002-02-21 Sold (Public Records) $117,000 Public Records
• 1998-02-10 Sold (Public Records) $92,300 Public Records
• 1981-10-01 Sold (Public Records) $45,000 Public Records

Property tax history

+12.4%/yr

Latest (2025): $10,149 · +276.4% YoY. Source: county tax records.