235 Lake Dora Dr #235 · West Palm Beach, FL 33411

$134,750

2 bd · 2.0 ba · 812 sqft · Condo · 75 Days on market

Built 1978 Good condition $349/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 +19.4/30.0
• Appreciation +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +3.8/5.0
• Rent growth +2.7/5.0

Listing remarks

Newly updated unit in desirable 55 plus community condo with a view of the lake on the 2nd Floor. The unit features new kitchen, new fridge, ceramic tile throughout. 2 beds and 2 baths, walk-in closet, and pantry with neutral colors all throughout kitchen. Screened patio. Community amenities include pool and clubhouse. Located near schools, shopping, dining and main roads. Must see!

Key facts

• Pantry
• Screened patio
• New kitchen

Tags

• VIEW OF THE LAKE
• NEW KITCHEN
• CERAMIC TILE
• WALK-IN CLOSET
• PANTRY
• SCREENED PATIO

Property features AI

Finance

• Other: Senior community; Pets not allowed
• HOA & community: HOA with clubhouse and pool; HOA dues $349 monthly (includes water)

Exterior

• Parking: Assigned parking; Guest parking (2 total spaces)
• Security: Fire sprinkler system; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; Electricity available; Water available; Sewer available
• Home design: Condominium; 2-story building; Resale; Unit faces east
• Construction: Stucco and CBS construction; Flat roof
• Exterior features: Screened patio; Patio; Waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet; Ceramic tile; Tile; Wood
• Bathrooms: 2 full bathrooms (1 on the main level)
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Walk-in closet(s); Custom mirrors; Unfurnished

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $150 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $127k (6.0% below list) — sets the bar for market timing.

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; 583 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $14k of equity ($932 loan paydown + $13k 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 $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y 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 $30k; list at $135k implies a 349% 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; 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 $126,665 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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: 1.34% ✓
• Cap rate: 7.63%
• Cash-on-cash: 4.78%
• DSCR: 1.21
• GRM: 6.2

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: 26.7%
• Equity multiple: 3.10×
• Total profit: $79,363
• Equity at exit: $121,393

10-year hold

• IRR: 22.7%
• Equity multiple: 6.82×
• Total profit: $219,550
• Equity at exit: $261,790

Cash invested: $37,730 (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: 583
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,811 high
• Mortgage (P&I): −$707
• Tax est. 1.5%: −$168 /mo · $2,021/yr
• Insurance: −$56
• HOA: −$349
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $150

Break-even live

Break-even rent $1,621

Max offer price $134,750

Occupancy floor 87%

Sensitivity live

Price	-10% $243	-5% $197	+0% $150	+5% $104	+10% $57
Rent	-10% $7	-5% $79	+0% $150	+5% $222	+10% $293
Rate	-1.0pp $218	-0.5pp $184	base $150	+0.5pp $115	+1.0pp $80

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: $33,688
• Closing costs: $4,042
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
129 Lake Carol Dr #129 West Palm Beach, FL	1.0	1.0	600	$1,500	$2.50	26d	1	0.04mi
228 Lake Dora Dr West Palm Beach, FL	1.0	1.5	704	$1,500	$2.13	23d	1	0.04mi
106 Lake Dora Dr West Palm Beach, FL	2.0	2.0	812	$1,600	$1.97	26d	1	0.04mi
175 Lake Carol Dr #175 West Palm Beach, FL	1.0	1.0	600	$1,300	$2.17	26d	1	0.04mi
321 Lake Evelyn Dr West Palm Beach, FL	2.0	2.0	888	$1,600	$1.80	26d	1	0.04mi
235 Lake Dora Dr West Palm Beach, FL	2.0	2.0	812	$1,860	$2.29	26d	1	0.04mi
314 Lake Dora Dr West Palm Beach, FL	2.0	2.0	888	$1,650	$1.86	22d	1	0.04mi
228 Lake Dora Dr West Palm Beach, FL	1.0	1.5	704	$1,500	$2.13	26d	1	0.04mi
200 Lake Carol Dr West Palm Beach, FL	2.0	2.0	888	$1,750	$1.97	26d	1	0.04mi
173 Lake Dora Dr #173 West Palm Beach, FL	1.0	1.5	704	$1,400	$1.99	26d	1	0.04mi
155 Lake Carol Dr Unit 155 West Palm Beach, FL	2.0	2.0	812	$1,950	$2.40	26d	1	0.13mi
203 Lake Carol Dr West Palm Beach, FL	1.0	1.0	600	$1,500	$2.50	26d	1	0.17mi
230 Lake Dora Dr #230 West Palm Beach, FL	2.0	2.0	888	$1,700	$1.91	9d	1	0.27mi
1564 Lake Crystal Dr Unit F West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	18d	1	0.31mi
1542 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	26d	1	0.35mi
1542 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	23d	1	0.35mi
161 Lake Frances Dr Unit 161 West Palm Beach, FL	1.0	1.5	704	$1,430	$2.03	9d	1	0.36mi
1547 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	900	$1,950	$2.17	26d	1	0.36mi
1547 Lake Crystal Dr Unit A West Palm Beach, FL	2.0	2.0	900	$1,900	$2.11	15d	1	0.36mi
1990 Augustine Rd West Palm Beach, FL	1.0–2.0	1.0–2.0	1019	$2,567	$2.52	1d	15	0.37mi
1760 Windorah Way Unit H West Palm Beach, FL	2.0	1.0	904	$1,850	$2.05	26d	1	0.38mi
1545 Lake Crystal Dr Unit D West Palm Beach, FL	1.0	1.0	700	$1,675	$2.39	15d	1	0.38mi
138 Lake Frances Dr West Palm Beach, FL	2.0	2.0	812	$1,845	$2.27	26d	1	0.39mi
1700 Windorah Way Unit A West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	15d	1	0.43mi
1701 Balfour Point Dr Unit G West Palm Beach, FL	2.0	2.0	916	$1,900	$2.07	15d	1	0.44mi
1660 Windorah Way Unit H West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	7d	1	0.45mi
1525 Lake Crystal Dr Unit C West Palm Beach, FL	2.0	2.0	904	$1,800	$1.99	9d	1	0.45mi
1681 Balfour Point Dr Unit F West Palm Beach, FL	2.0	2.0	916	$1,950	$2.13	26d	1	0.46mi
1681 Balfour Point Dr Unit A West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	7d	1	0.46mi
1661 Balfour Point Dr Unit H West Palm Beach, FL	2.0	1.0	904	$1,850	$2.05	3d	1	0.47mi
1661 Balfour Point Dr Unit B West Palm Beach, FL	2.0	2.0	916	$1,950	$2.13	7d	1	0.47mi
1661 Balfour Point Dr Unit E West Palm Beach, FL	2.0	2.0	904	$2,000	$2.21	19d	1	0.47mi
1641 Balfour Point Dr Unit A West Palm Beach, FL	2.0	2.0	950	$1,899	$2.00	9d	1	0.47mi
7130 Okeechobee Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1086	$2,490	$2.29	0d	8	0.48mi
1455 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	15d	1	0.51mi
1455 Lake Crystal Dr Unit H West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	16d	1	0.51mi
1453 Lake Crystal Dr Unit D West Palm Beach, FL	2.0	2.0	904	$1,900	$2.10	15d	1	0.52mi
1540 Windorah Way Unit D West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	20d	1	0.52mi
1581 Windorah Way Unit A West Palm Beach, FL	2.0	2.0	904	$1,800	$1.99	23d	1	0.52mi
1581 Windorah Way Unit A West Palm Beach, FL	2.0	2.0	904	$1,850	$2.05	12d	1	0.52mi

HOA detail condo

• Monthly dues: $349 · $4,188/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-21
   days on market $134,750 Active 75 DOM
2. 2026-06-18
   days on market $134,750 Active 72 DOM
3. 2026-06-17
   days on market $134,750 Active 71 DOM
4. 2026-06-16
   days on market $134,750 Active 70 DOM
5. 2026-06-15
   days on market $134,750 Active 69 DOM
6. 2026-06-13
   days on market $134,750 Active 67 DOM
7. 2026-06-09
   days on market $134,750 Active 63 DOM
8. 2026-06-08
   days on market $134,750 Active 62 DOM
9. 2026-06-07
   days on market $134,750 Active 61 DOM
10. 2026-06-04
    days on market $134,750 Active 58 DOM
11. 2026-06-03
    days on market $134,750 Active 57 DOM
12. 2026-06-02
    days on market $134,750 Active 56 DOM
13. 2026-06-01
    days on market $134,750 Active 55 DOM
14. 2026-05-31
    days on market $134,750 Active 54 DOM
15. 2026-05-14
    price $134,750
16. 2026-05-14
    price $137,750
17. 2026-04-07
    listed $139,750 Active
18. 2026-03-25
    listed $1,650
19. 2026-03-24
    historical $1,650
20. 2026-03-18
    historical
21. 2025-10-25
    listed $1,650
22. 2025-10-23
    historical $1,650
23. 2025-10-23
    listed $1,650
24. 2025-10-20
    listed $139,750 Active
25. 2022-02-08
    status Pending
26. 2022-02-07
    historical
27. 2021-12-10
    listed $110,000 Active
28. 2021-03-09
    historical
29. 2021-01-04
    listed $83,000 Active
30. 2015-06-03
    historical
31. 2015-06-03
    soldstatus $30,000 Closed
32. 2015-03-24
    status Pending
33. 2015-03-20
    historical Contingent
34. 2015-03-03
    price $30,000
35. 2014-10-22
    price $37,500
36. 2014-09-19
    price $42,500
37. 2014-08-19
    listed $44,900 Active
38. 2006-04-06
    soldstatus $111,900
39. 2006-03-01
    historical
40. 2006-02-23
    listed $119,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $21,728
• − Mortgage interest: −$7,548
• − Property taxes: −$2,021
• − Insurance: −$674
• − Repairs & maintenance: −$1,738
• − Management: −$1,738
• − HOA: −$4,188
• − Depreciation: −$3,920
• Taxable loss: −$99
• Est. tax savings @ 24.0%: +$24
• After-tax cash flow: $1,827/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This 2-bedroom, 2-bathroom condo is in good condition with recent updates, including a new kitchen and neutral paint. It offers a good return on investment with potential for further updates to increase its value.

Value-add opportunities

• Both Paint interior walls — Fresh paint can enhance curb appeal and interior aesthetics
• Both Replace countertops — New countertops can improve functionality and aesthetics
• Both Install new flooring in bathrooms — New flooring can improve functionality and aesthetics
• Both Upgrade lighting fixtures — Modern lighting can enhance the home's ambiance and value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Replace countertops — New countertops can improve functionality and aesthetics ↑
• Both Install new flooring in bathrooms — New flooring can improve functionality and aesthetics ↑
• Both Upgrade lighting fixtures — Modern lighting can enhance the home's ambiance and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+12.4% since first listed

26 events — show timeline

• 2026-05-14 Price Changed $134,750 Beaches MLS
• 2026-05-14 Price Changed $137,750 Beaches MLS
• 2026-04-07 Listed $139,750 Beaches MLS
• 2026-03-25 Listed for Rent $1,650 RMLSFL
• 2026-03-24 Rental Removed $1,650 GFLMLS
• 2026-03-18 Listing Removed — Beaches MLS
• 2025-10-25 Listed for Rent $1,650 GFLMLS
• 2025-10-23 Rental Removed $1,650 RMLSFL
• 2025-10-23 Listed for Rent $1,650 RMLSFL
• 2025-10-20 Listed $139,750 Beaches MLS
• 2022-02-08 Pending — Beaches MLS
• 2022-02-07 Listing Removed — Beaches MLS
• 2021-12-10 Listed $110,000 Beaches MLS
• 2021-03-09 Listing Removed — Beaches MLS
• 2021-01-04 Listed $83,000 Beaches MLS
• 2015-06-03 Listing Removed — Beaches MLS
• 2015-06-03 Sold (MLS) $30,000 Beaches MLS
• 2015-03-24 Pending — Beaches MLS
• 2015-03-20 Contingent — Beaches MLS
• 2015-03-03 Price Changed $30,000 Beaches MLS
• 2014-10-22 Price Changed $37,500 Beaches MLS
• 2014-09-19 Price Changed $42,500 Beaches MLS
• 2014-08-19 Listed $44,900 Beaches MLS
• 2006-04-06 Sold (MLS) $111,900 Beaches MLS
• 2006-03-01 Listing Removed — Beaches MLS
• 2006-02-23 Listed $119,900 Beaches MLS