109 Lake Barbara Dr · West Palm Beach, FL 33411

$144,900

2 bd · 2.0 ba · 1,000 sqft · Condo public records · 13 Days on market

Built 1974 $586/mo HOA · 31% of rent

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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 +14.6/30.0
• Appreciation +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

COUNTRY CLUB LIVING, WATER FRONTAGE, MANNED GATED COMMUNITY VERY ACTIVE CLUBHOUSES, POOLS. JUST LOVELY

Key facts

• Waterfront living
• Lakefront condo
• Tile flooring

Tags

• WATERFRONT LIVING
• LAKEFRONT CONDO
• TILE FLOORING
• GLASS ENCLOSED SUNROOM
• BEAUTIFUL LAKE VIEWS

Property features AI

Finance

• Other: Community is designated as a senior community; Pets allowed (cats OK) with possible restrictions and limits; 1,888 units in the community
• Financial info: Association fee paid monthly
• HOA & community: Part of Golden Lakes Village Condominium; Monthly association fee; Association amenities include: clubhouse, fitness center, pool (heated), spa/hot tub, sauna, tennis and shuffleboard courts, billiard and game rooms, library, picnic area, jogging path, sidewalks, street lights, manager on site, courtesy bus, parking, community room, kitchen facilities, and pool service

Exterior

• Parking: Assigned, guest, and open parking; 1 open parking space
• Security: Gated community with security guard; Security patrol
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Electricity available; Water available; Sewer available
• Home design: Villa (single-story); Entry-level living area; Faces south
• Construction: Stucco and CBS construction; Mixed/shingle roof with wood truss/rafter
• Exterior features: Covered patio; Patio (glass enclosed); Sidewalks; Paved road frontage; Waterfront

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Tile; Wood
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Built-in features; Entrance foyer; Walk-in closets; Closet cabinetry; French doors; Single-hung metal and sliding windows
• Laundry & utility: In-unit laundry in a laundry closet on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $36 ($428/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).

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: Benoist Farms Elementary School (math 22% / reading 28%, grade F, #2,030 of 2,144 statewide, top 95%, 421 students, 80% FRL); Jeaga Middle School (math 18% / reading 30%, grade F, #532 of 571 statewide, top 94%, 941 students, 78% FRL); Royal Palm Beach High School (math 22% / reading 38%, grade F, #441 of 667 statewide, top 67%, 2,343 students, 57% FRL) — zoned schools average 72% FRL vs 52% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 50% district-wide (-23 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 flat; 574 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($1k loan paydown + $14k appreciation (10.0% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.8% rent growth), your $41k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 24y 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 $61k; list at $145k implies a 138% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,900

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.31% ✓
• Cap rate: 6.59%
• Cash-on-cash: 1.05%
• DSCR: 1.05
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: 24.1%
• Equity multiple: 2.91×
• Total profit: $77,489
• Equity at exit: $130,537

10-year hold

• IRR: 20.6%
• Equity multiple: 6.41×
• Total profit: $219,582
• Equity at exit: $281,509

Cash invested: $40,572 (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 33411

• Home prices YoY: 1.9%
• Rents YoY: 0.8%
• Active inventory: 574
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,893 high
• Mortgage (P&I): −$760
• Tax from tax record: −$53 /mo · $641/yr
• Insurance: −$60
• HOA: −$586
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $36

Break-even live

Break-even rent $1,848

Max offer price $144,900

Occupancy floor 93%

Sensitivity live

Price	-10% $118	-5% $77	+0% $36	+5% $-5	+10% $-46
Rent	-10% $-114	-5% $-39	+0% $36	+5% $110	+10% $185
Rate	-1.0pp $109	-0.5pp $73	base $36	+0.5pp $-2	+1.0pp $-40

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
230 Lake Dora Dr #230 West Palm Beach, FL	2.0	2.0	888	$1,700	$1.91	8d	1	0.15mi
106 Lake Dora Dr West Palm Beach, FL	2.0	2.0	812	$1,600	$1.97	25d	1	0.15mi
314 Lake Dora Dr West Palm Beach, FL	2.0	2.0	888	$1,650	$1.86	21d	1	0.15mi
173 Lake Dora Dr #173 West Palm Beach, FL	1.0	1.5	704	$1,400	$1.99	25d	1	0.15mi
235 Lake Dora Dr West Palm Beach, FL	2.0	2.0	812	$1,860	$2.29	25d	1	0.15mi
228 Lake Dora Dr West Palm Beach, FL	1.0	1.5	704	$1,500	$2.13	22d	1	0.15mi
228 Lake Dora Dr West Palm Beach, FL	1.0	1.5	704	$1,500	$2.13	25d	1	0.15mi
200 Lake Carol Dr West Palm Beach, FL	2.0	2.0	888	$1,750	$1.97	25d	1	0.15mi
321 Lake Evelyn Dr West Palm Beach, FL	2.0	2.0	888	$1,600	$1.80	25d	1	0.15mi
155 Lake Carol Dr Unit 155 West Palm Beach, FL	2.0	2.0	812	$1,950	$2.40	25d	1	0.18mi
161 Lake Frances Dr Unit 161 West Palm Beach, FL	1.0	1.5	704	$1,430	$2.03	8d	1	0.27mi
2104 Tigris Dr Unit 2104 West Palm Beach, FL	3.0	2.5	1298	$2,990	$2.30	8d	1	0.29mi
138 Lake Frances Dr West Palm Beach, FL	2.0	2.0	812	$1,845	$2.27	25d	1	0.30mi
1566 Lake Crystal Dr West Palm Beach, FL	2.0	2.0	1200	$1,800	$1.50	19d	1	0.36mi
1566 Lake Crystal Dr West Palm Beach, FL	2.0	2.0	1200	$1,800	$1.50	25d	1	0.36mi
7130 Okeechobee Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1086	$2,488	$2.29	0d	8	0.36mi
1564 Lake Crystal Dr Unit F West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	17d	1	0.36mi
1542 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	22d	1	0.38mi
1542 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	25d	1	0.38mi
1547 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	900	$1,950	$2.17	25d	1	0.40mi
1547 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	14d	1	0.40mi
1545 Lake Crystal Dr Unit D West Palm Beach, FL	1.0	1.0	700	$1,675	$2.39	14d	1	0.42mi
1760 Windorah Way Unit H West Palm Beach, FL	2.0	1.0	904	$1,850	$2.05	25d	1	0.45mi
1525 Lake Crystal Dr Unit C West Palm Beach, FL	2.0	2.0	904	$1,800	$1.99	8d	1	0.48mi
1990 Augustine Rd West Palm Beach, FL	1.0–2.0	1.0–2.0	1019	$2,567	$2.52	0d	15	0.50mi
1700 Windorah Way Unit A West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	14d	1	0.50mi
125 Lake Nancy Dr #241 West Palm Beach, FL	2.0	2.0	1193	$1,900	$1.59	11d	1	0.51mi
108 Lake Nancy Dr West Palm Beach, FL	2.0	2.0	967	$1,800	$1.86	25d	1	0.51mi
1660 Windorah Way Unit H West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	6d	1	0.52mi
1701 Balfour Point Dr Unit G West Palm Beach, FL	2.0	2.0	916	$1,900	$2.07	14d	1	0.54mi
1477 Lake Crystal Dr Unit D West Palm Beach, FL	2.0	2.0	928	$1,975	$2.13	17d	1	0.54mi
1455 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	14d	1	0.55mi
1455 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	15d	1	0.55mi
1453 Lake Crystal Dr Unit D West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	14d	1	0.55mi
221 Lake Meryl Dr West Palm Beach, FL	2.0	2.0	1000	$1,550	$1.55	25d	1	0.55mi
1681 Balfour Point Dr Unit A West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	6d	1	0.56mi
1681 Balfour Point Dr Unit F West Palm Beach, FL	2.0	2.0	916	$1,950	$2.13	25d	1	0.56mi
1465 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	2d	1	0.56mi
1641 Balfour Point Dr Unit A West Palm Beach, FL	2.0	2.0	950	$1,899	$2.00	8d	1	0.56mi
1561 Balfour Point Dr Unit B West Palm Beach, FL	3.0	2.0	1156	$2,250	$1.95	2d	1	0.56mi

HOA detail condo

• Monthly dues: $586 · $7,032/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-18
   days on market $144,900 Active 13 DOM
2. 2026-06-17
   days on market $144,900 Active 12 DOM
3. 2026-06-16
   days on market $144,900 Active 11 DOM
4. 2026-06-15
   days on market $144,900 Active 10 DOM
5. 2026-06-13
   days on market $144,900 Active 8 DOM
6. 2026-06-09
   days on market $144,900 Active 4 DOM
7. 2026-06-08
   days on market $144,900 Active 3 DOM
8. 2026-06-07
   remarks 699-char remark
9. 2026-06-07
   listed $144,900 Active 2 DOM

ⓘ 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: $641 · $53/mo
• Projected year-2 tax: $1,203 · $100/mo
• Expected delta: +$561/yr (+$47/mo · 87.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,714
• − Mortgage interest: −$8,117
• − Property taxes: −$641
• − Insurance: −$724
• − Repairs & maintenance: −$1,817
• − Management: −$1,817
• − HOA: −$7,032
• − Depreciation: −$4,215
• Taxable loss: −$1,650
• Est. tax savings @ 24.0%: +$396
• After-tax cash flow: $824/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

• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 76,863
• Household income: $92,591
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 1870.0

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 0.70)
• Race & ethnicity: White 44% Hispanic / Latino 24% Black 23% Two or more races 16% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Cuban 4% Dominican 2%
• Common ancestry: Hispanic 6% Romanian 2% Italian 1%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 17% French/Haitian/Cajun 4% Other Indo-European 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: ▲ 17.04%
• Current HPI: 903.78
• Rent YoY: ▲ 0.85%
• 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

+189.8% since first listed

8 events — show timeline

• 2026-06-04 Listed $144,900 Beaches MLS
• 2014-06-25 Sold (Public Records) $61,000 Public Records
• 2004-10-26 Sold (Public Records) $100,000 Public Records
• 2003-05-20 Sold (Public Records) $80,000 Public Records
• 2002-05-28 Sold (Public Records) $45,000 Public Records
• 2002-05-22 Sold (MLS) $45,000 Beaches MLS
• 2002-05-11 Listing Removed — Beaches MLS
• 2002-04-21 Listed $50,000 Beaches MLS

Property tax history

-2.4%/yr

Latest (2025): $641 · +4.8% YoY. Source: county tax records.