1035 Lake Shore Dr #105 · Lake Park, FL 33403

$289,000

2 bd · 2.0 ba · 1,111 sqft · Condo public records

Built 1989 $783/mo HOA · 19% of rent ↓ 7% since listing

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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 +22.8/30.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 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 MLS

Resort Style gated condo community with a Mediterranean look. Water front with security, club house, heated pool, hot tub and barbecue area. This ''Cayman'' model, with two master suites, rarely comes on the market. It is one of the largest units in Bay Reach. Close to shopping, beaches. HOA fee includes water and basic cable. Come see the beautiful view of the intracoastal waterway for yourself.

Key facts

• $783 HOA
• Garage
• Community pool

Property features AI

Finance

• Financial info: No land lease; Pets allowed (size limit)
• HOA & community: Monthly HOA fee of $783; Community spa / hot tub; HOA covers insurance, reserve funds, roof repairs, and pool service

Exterior

• Parking: Detached garage (deeded); 1 garage space; 1 covered space; 1 open parking space
• Security: Security fence; Entry phone/intercom
• Utilities: Cable available
• Home design: Condominium; Resale property; 2 stories; East of US-1
• Construction: Block construction
• Exterior features: Patio; Fenced; Ocean access and intracoastal waterfront

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Disposal; Electric water heater
• Bedrooms: 1 bedroom on the main level
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms (1 on the main level)
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Walk-in closets
• Laundry & utility: Unfurnished

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $289k.

Deal economics

• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $289k).

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.
• Market conditions: Rents rising fast (+6.0%/yr); 134 active listings in the ZIP; 40 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 $4,026/mo this rent would consume 68% 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 $2k of loan paydown is wiped out by about $9k 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 + 6.0% rent growth), your $81k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 21y 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 $149k; list at $289k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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 $289,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.39% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.41%
• DSCR: 1.33
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.0%
• Equity multiple: 0.92×
• Total profit: $-6,319
• Equity at exit: $43,091

10-year hold

• IRR: 11.5%
• Equity multiple: 2.07×
• Total profit: $86,188
• Equity at exit: $24,987

Cash invested: $80,920 (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: 6.0×

Monthly cashflow live

• Estimated rent: $4,026 high
• Mortgage (P&I): −$1,516
• Tax from tax record: −$261 /mo · $3,137/yr
• Insurance: −$120
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$783
• Vacancy / Maint / Mgmt: −$845
• Net cashflow: $433

Break-even live

Break-even rent $3,477

Max offer price $289,000

Occupancy floor 84%

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1155 Lake Shore Dr #202 West Palm Beach, FL	2.0	2.0	1206	$4,750	$3.94	24d	1	0.04mi
1060 Lake Shore Dr #201 West Palm Beach, FL	2.0	2.0	1206	$3,850	$3.19	18d	1	0.04mi
913 Lake Shore Dr Lake Park, FL	1.0–2.0	1.0–2.0	1066	$3,731	$3.50	2d	9	0.16mi
301 Hawthorne Dr West Palm Beach, FL	3.0	2.0	1402	$3,200	$2.28	24d	1	0.44mi
301 Lake Shore Dr #802 West Palm Beach, FL	2.0	2.0	1316	$3,000	$2.28	24d	1	0.51mi
220 Lake Shore Dr Lake Park, FL	1.0–3.0	1.5–3.5	1575	$14,498	$9.20	4d	18	0.61mi
522 Eastwind Dr North Palm Beach, FL	2.0	2.0	948	$3,995	$4.21	24d	1	0.72mi
524 Eastwind Dr Unit 524 North Palm Beach, FL	2.0	1.0	774	$3,995	$5.16	24d	1	0.72mi
526 Eastwind Dr Unit 526 North Palm Beach, FL	2.0	1.0	840	$3,995	$4.76	24d	1	0.73mi
549 Fairwind Dr North Palm Beach, FL	3.0	2.0	1498	$5,000	$3.34	24d	1	0.89mi
308 Southwind Ct Unit 8 North Palm Beach, FL	2.0	2.0	1100	$2,900	$2.64	24d	1	0.94mi
624 Southwind Cir Unit 3 North Palm Beach, FL	3.0	3.0	1316	$5,500	$4.18	24d	1	1.07mi
624 Southwind Cir #2 North Palm Beach, FL	2.0	2.0	718	$3,750	$5.22	24d	1	1.07mi
624 Southwind Cir Apt 4 North Palm Beach, FL	3.0	2.0	1134	$4,750	$4.19	24d	1	1.07mi
429 Inlet Rd North Palm Beach, FL	3.0	2.5	1452	$6,500	$4.48	24d	1	1.07mi
1030 Sugar Sands Blvd #171 Riviera Beach, FL	2.0	2.0	1143	$5,000	$4.37	24d	1	1.09mi
1025 Sugar Sands Blvd #159 Riviera Beach, FL	1.0	1.0	987	$4,200	$4.26	24d	1	1.12mi
1050 Sugar Sands Blvd #174 Riviera Beach, FL	3.0	2.0	1490	$5,500	$3.69	24d	1	1.13mi
410 Wilma Cir #103 Riviera Beach, FL	2.0	2.0	1056	$4,000	$3.79	14d	1	1.14mi
400 Wilma Cir #309 Riviera Beach, FL	1.0	1.0	818	$4,000	$4.89	5d	1	1.15mi
5400 N Ocean Dr Riviera Beach, FL	2.0	2.0	1375	$5,450	$3.96	5d	3	1.15mi
5400 N Ocean Dr Riviera Beach, FL	1.0–2.0	1.0–2.0	1300	$6,500	$5.00	21d	3	1.15mi
5420 N Ocean Dr Riviera Beach, FL	2.0	2.0	1371	$5,000	$3.65	7d	4	1.16mi
5420 N Ocean Dr Riviera Beach, FL	2.0	2.0	1371	$4,725	$3.45	14d	5	1.16mi
5440 N Ocean Dr Riviera Beach, FL	2.0	2.0	1400	$5,675	$4.05	1d	7	1.17mi
5440 N Ocean Dr Riviera Beach, FL	2.0	2.0	1400	$5,325	$3.80	20d	6	1.17mi
5480 N Ocean Dr Unit B2A Riviera Beach, FL	2.0	2.0	1330	$4,750	$3.57	24d	1	1.18mi
5480 N Ocean Dr Unit A10C Riviera Beach, FL	2.0	2.0	1330	$5,500	$4.14	24d	1	1.18mi
5510 N Ocean Dr Unit 2C Riviera Beach, FL	2.0	2.0	1435	$7,995	$5.57	24d	1	1.21mi
5550 N Ocean Dr Riviera Beach, FL	2.0	2.0	1435	$9,000	$6.27	24d	1	1.22mi
855 Date Palm Dr West Palm Beach, FL	3.0	3.0	1216	$3,150	$2.59	24d	1	1.23mi
5540 N Ocean Dr Unit 7B Riviera Beach, FL	2.0	2.0	1435	$5,000	$3.48	24d	1	1.24mi
5540 N Ocean Dr Unit 7A Riviera Beach, FL	2.0	2.0	1435	$7,000	$4.88	24d	1	1.24mi
1260 Manor Dr Riviera Beach, FL	2.0	2.0	1230	$4,500	$3.66	20d	1	1.24mi
901 W 37th St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	24d	1	1.25mi
4200 N Ocean Dr Unit 2-101 Riviera Beach, FL	2.0	2.0	1400	$3,000	$2.14	14d	1	1.26mi
4200 N Ocean Dr Unit 1 Riviera Beach, FL	2.0	2.0	1432	$7,000	$4.89	24d	1	1.29mi
4200 N Ocean Dr Unit 2-605 Riviera Beach, FL	2.0	2.0	1432	$6,100	$4.26	24d	1	1.29mi
4200 N Ocean Dr Unit 2-506 Riviera Beach, FL	2.0	2.0	1210	$6,000	$4.96	24d	1	1.29mi
4200 N Ocean Dr Unit 2-405 Riviera Beach, FL	2.0	2.0	1432	$5,850	$4.09	24d	1	1.29mi

HOA detail condo

• Monthly dues: $783 · $9,396/yr
• Likely covers: watercablepoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-13
   statusdays on marketlisting id $289,000 Pending
2. 2026-06-01
   days on market $289,000 Active 82 DOM
3. 2026-05-31
   days on market $289,000 Active 81 DOM
4. 2026-03-31
   price $289,000
5. 2025-12-02
   listed $299,000 Active
6. 2016-08-29
   soldstatus $149,000 Closed 401-char remark

   Show marketing remark (401 chars)

   Resort Style gated condo community with a Mediterranean look. Water front with security, club house, heated pool, hot tub and barbecue area. This ''Cayman'' model, with two master suites, rarely comes on the market. It is one of the largest units in Bay Reach. Close to shopping, beaches. HOA fee includes water and basic cable. Come see the beautiful view of the intracoastal waterway for yourself.

7. 2016-08-29
   soldstatus $149,000

   Show marketing remark (401 chars)

   Resort Style gated condo community with a Mediterranean look. Water front with security, club house, heated pool, hot tub and barbecue area. This ''Cayman'' model, with two master suites, rarely comes on the market. It is one of the largest units in Bay Reach. Close to shopping, beaches. HOA fee includes water and basic cable. Come see the beautiful view of the intracoastal waterway for yourself.

8. 2016-06-13
   historical Contingent 401-char remark

   Show marketing remark (401 chars)

   Resort Style gated condo community with a Mediterranean look. Water front with security, club house, heated pool, hot tub and barbecue area. This ''Cayman'' model, with two master suites, rarely comes on the market. It is one of the largest units in Bay Reach. Close to shopping, beaches. HOA fee includes water and basic cable. Come see the beautiful view of the intracoastal waterway for yourself.

9. 2016-06-10
   listed $149,000 Active 401-char remark

   Show marketing remark (401 chars)

   Resort Style gated condo community with a Mediterranean look. Water front with security, club house, heated pool, hot tub and barbecue area. This ''Cayman'' model, with two master suites, rarely comes on the market. It is one of the largest units in Bay Reach. Close to shopping, beaches. HOA fee includes water and basic cable. Come see the beautiful view of the intracoastal waterway for yourself.

10. 2008-01-25
    soldstatus $260,000
11. 2005-04-26
    soldstatus $280,000
12. 2005-04-22
    soldstatus $280,000 211-char remark

    Show marketing remark (211 chars)

    EXCLUSIVE GATED COMM ON INTRACOASTAL, LUSH LANDSCAPE, GATED COMMUNITY TOTALLY UPDATED BEAUTIFUL 2/2 CONDO WITH GARAGE, WOOD & TILE FLOORS KIDS AND PETS OK! SUPRA GATE CODE 1212 REMODEL TO BE DONE BY 2-1-05

13. 2005-04-01
    historical 211-char remark

    Show marketing remark (211 chars)

    EXCLUSIVE GATED COMM ON INTRACOASTAL, LUSH LANDSCAPE, GATED COMMUNITY TOTALLY UPDATED BEAUTIFUL 2/2 CONDO WITH GARAGE, WOOD & TILE FLOORS KIDS AND PETS OK! SUPRA GATE CODE 1212 REMODEL TO BE DONE BY 2-1-05

14. 2005-01-05
    listed $309,900 211-char remark

    Show marketing remark (211 chars)

    EXCLUSIVE GATED COMM ON INTRACOASTAL, LUSH LANDSCAPE, GATED COMMUNITY TOTALLY UPDATED BEAUTIFUL 2/2 CONDO WITH GARAGE, WOOD & TILE FLOORS KIDS AND PETS OK! SUPRA GATE CODE 1212 REMODEL TO BE DONE BY 2-1-05

ⓘ 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: $3,137 · $261/mo
• Projected year-2 tax: $3,137 · $261/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,307
• − Mortgage interest: −$16,188
• − Property taxes: −$3,137
• − Insurance: −$2,242
• − Repairs & maintenance: −$3,865
• − Management: −$3,865
• − HOA: −$9,396
• − Depreciation: −$8,407
• Taxable income: $1,207
• Est. tax owed @ 24.0%: −$290
• After-tax cash flow: $4,911/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

-6.7% since first listed

11 events — show timeline

• 2026-03-31 Price Changed $289,000 Beaches MLS
• 2025-12-02 Listed $299,000 Beaches MLS
• 2016-08-29 Sold (Public Records) $149,000 Public Records
• 2016-08-29 Sold (MLS) $149,000 Beaches MLS
• 2016-06-13 Contingent — Beaches MLS
• 2016-06-10 Listed $149,000 Beaches MLS
• 2008-01-25 Sold (Public Records) $260,000 Public Records
• 2005-04-26 Sold (Public Records) $280,000 Public Records
• 2005-04-22 Sold (MLS) $280,000 Beaches MLS
• 2005-04-01 Listing Removed — Beaches MLS
• 2005-01-05 Listed $309,900 Beaches MLS

Property tax history

+4.5%/yr

Latest (2025): $3,137 · +6.6% YoY. Source: county tax records.