24 Lexington Ln W Unit A · Palm Beach Gardens, FL 33418

$415,000

2 bd · 2.0 ba · 1,400 sqft · Condo public records · 47 Days on market

Built 1988 $475/mo HOA · 12% of rent

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Why this score? — see what drove the D 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 +12.8/30.0
• ARV discount +7.5/15.0
• 1% rule +4.3/10.0
• Schools +4.3/10.0
• DSCR +3.8/10.0
• Livability +3.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

IMMACULATE CORNER UNIT. NEW TILE FLOORS, NEW TRANE A/C, TILED PATIO, FURNITURE NEGOTIABLE. HEATED COMMUNITY POOL. 1 CAR GARAGE.

Key facts

• $475 HOA
• Garage
• Community pool

Property features AI

Finance

• Financial info: Pets allowed with size limit (maximum 20 lbs)
• HOA & community: Monthly association fee of $475; Association amenities include clubhouse and pool; HOA covers amenities, common areas, hot water, grounds and structure maintenance, pool(s), roof, sewer, trash and water

Exterior

• Parking: Attached garage; Garage door opener; Guest parking available; One covered garage space
• Security: Complex fenced; Security guard
• Utilities: Cable available
• Home design: 2 stories; Updated/remodeled; Attached property (townhome/attached unit); Entry on level 1
• Construction: Block construction
• Exterior features: Enclosed porch; Patio; Screened porch; Storm/security shutters; Association pool

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Icemaker; Disposal; Pantry; Breakfast area
• Bedrooms: At least one bedroom on the main level
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms; Dual sinks
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Bedroom on main level; Breakfast area; Dual sinks; First floor entry; Living/dining room; Pantry; Tub with shower; Walk-in closet(s); Furnishing negotiable
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $415k.

Deal economics

• At list price, monthly cash flow is $-34 ($-410/yr) — negative.
• To cash-flow at today's rent, offer at most $409k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $388k (6.6% below list).
• Recommended offer: $388k (6.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#464 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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: Timber Trace Elementary School (math 76% / reading 79%, grade A, #163 of 2,144 statewide, top 8%, 825 students, 34% FRL); Watson B. Duncan Middle School (math 54% / reading 59%, grade B, #171 of 571 statewide, top 30%, 1,157 students, 41% FRL); Palm Beach Gardens High School (math 19% / reading 40%, grade F, #447 of 667 statewide, top 68%, 2,570 students, 61% FRL).
• Market conditions: Rents rising (+2.0%/yr); 542 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 37% of the median local income ($125k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 47 days — a 3% lower offer ($403k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y 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 $198k; list at $415k implies a 110% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $387,761 (6.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.93% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.35%
• DSCR: 0.98
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.0% rent growth · sell at horizon

5-year hold

• IRR: -18.0%
• Equity multiple: 0.37×
• Total profit: $-73,088
• Equity at exit: $61,878

10-year hold

• IRR: -12.4%
• Equity multiple: 0.30×
• Total profit: $-81,172
• Equity at exit: $35,882

Cash invested: $116,200 (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 33418

• Home prices YoY: -32.4%
• Rents YoY: 2.0%
• Active inventory: 542
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $3,878 high
• Mortgage (P&I): −$2,176
• Tax from tax record: −$273 /mo · $3,279/yr
• Insurance: −$173
• HOA: −$475
• Vacancy / Maint / Mgmt: −$814
• Net cashflow: $-34

Break-even live

Break-even rent $3,921

Max offer price $408,963

Occupancy floor 96%

Sensitivity live

Price	-10% $201	-5% $83	+0% $-34	+5% $-152	+10% $-269
Rent	-10% $-341	-5% $-187	+0% $-34	+5% $119	+10% $272
Rate	-1.0pp $175	-0.5pp $71	base $-34	+0.5pp $-142	+1.0pp $-251

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: $103,750
• Closing costs: $12,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23 Lexington Ln W Unit C Palm Beach Gardens, FL	2.0	2.0	1275	$2,895	$2.27	26d	1	0.03mi
6 Lexington Ln E Unit D Palm Beach Gardens, FL	2.0	2.0	1400	$4,200	$3.00	26d	1	0.05mi
4 Lexington Ln E Unit E Palm Beach Gardens, FL	2.0	2.0	1275	$2,700	$2.12	5d	1	0.05mi
7 Lexington Ln E Palm Beach Gardens, FL	2.0	2.0	1275	$5,200	$4.08	26d	1	0.09mi
202 Cypress Point Dr #202 Palm Beach Gardens, FL	2.0	2.0	1250	$3,200	$2.56	26d	1	0.24mi
39 Dorchester Cir Palm Beach Gardens, FL	3.0	2.0	1571	$11,500	$7.32	26d	1	0.25mi
32 Admirals Ct Palm Beach Gardens, FL	3.0	2.0	1438	$3,590	$2.50	13d	1	0.29mi
32 Admirals Ct Palm Beach Gardens, FL	3.0	2.0	1438	$4,500	$3.13	13d	1	0.29mi
605 Masters Way Palm Beach Gardens, FL	3.0	3.0	1738	$17,500	$10.07	26d	1	0.39mi
717 Windermere Way Palm Beach Gardens, FL	3.0	2.5	1869	$3,100	$1.66	4d	1	0.40mi
7 Wyndham Ln Palm Beach Gardens, FL	3.0	2.0	1571	$7,500	$4.77	26d	1	0.43mi
77 Spyglass Way Palm Beach Gardens, FL	3.0	2.5	1471	$3,500	$2.38	26d	1	0.44mi
9016 Alister Blvd E Palm Beach Gardens, FL	1.0–3.0	1.0–2.0	1136	$2,450	$2.16	0d	47	0.52mi
36 Ironwood Way N Unit 36 Palm Beach Gardens, FL	3.0	2.0	1480	$6,500	$4.39	26d	1	0.65mi
4 Ironwood Way N Palm Beach Gardens, FL	3.0	2.0	1480	$3,500	$2.36	26d	1	0.67mi
127 Sunset Cove Ln Palm Beach Gardens, FL	2.0	2.0	1677	$17,000	$10.14	22d	1	0.68mi
8033 Murano Cir Palm Beach Gardens, FL	3.0	2.5	1728	$3,400	$1.97	19d	1	0.69mi
11 Ironwood Way N Palm Beach Gardens, FL	3.0	2.0	1573	$4,800	$3.05	26d	1	0.72mi
26 Via Aurelia Palm Beach Gardens, FL	3.0	2.5	1830	$8,500	$4.64	26d	1	0.72mi
8050 Murano Cir Palm Beach Gardens, FL	3.0	2.5	1728	$3,100	$1.79	26d	1	0.76mi
533 Prestwick Cir Palm Beach Gardens, FL	2.0	2.0	1514	$4,000	$2.64	26d	1	0.79mi
293 Old Meadow Way Palm Beach Gardens, FL	3.0	3.0	1694	$6,000	$3.54	26d	1	0.84mi
265 Old Meadow Way Palm Beach Gardens, FL	2.0	2.0	1491	$3,400	$2.28	26d	1	0.85mi
364 Prestwick Cir #4 Palm Beach Gardens, FL	2.0	2.5	1466	$2,600	$1.77	26d	1	0.85mi
505 Prestwick Cir Palm Beach Gardens, FL	3.0	2.0	1850	$3,250	$1.76	4d	1	0.87mi
204 Old Meadow Way Palm Beach Gardens, FL	2.0	2.0	1491	$4,100	$2.75	26d	1	0.87mi
150 Old Meadow Way Palm Beach Gardens, FL	2.0	2.0	1418	$6,999	$4.94	22d	1	0.90mi
135 Old Meadow Way Palm Beach Gardens, FL	2.0	2.0	1418	$6,000	$4.23	26d	1	0.91mi
229 Old Meadow Way Palm Beach Gardens, FL	3.0	3.0	1694	$4,500	$2.66	26d	1	0.93mi
103 Old Meadow Way Palm Beach Gardens, FL	2.0	2.0	1491	$3,600	$2.41	15d	1	0.94mi
479 Prestwick Cir Palm Beach Gardens, FL	3.0	2.0	1818	$9,500	$5.23	26d	1	0.95mi
352 Prestwick Cir #1 Palm Beach Gardens, FL	2.0	3.0	1532	$2,700	$1.76	26d	1	0.99mi
359 Prestwick Cir #2 Palm Beach Gardens, FL	2.0	3.0	1532	$3,400	$2.22	26d	1	0.99mi
355 Prestwick Cir #4 Palm Beach Gardens, FL	2.0	3.0	1532	$3,500	$2.28	26d	1	1.03mi
1802 Rosewood Way Palm Beach Gardens, FL	2.0	2.0	1355	$3,550	$2.62	24d	1	1.05mi
1804 Rosewood Way Palm Beach Gardens, FL	3.0	2.0	1615	$8,000	$4.95	26d	1	1.05mi
1903 Rosewood Way Palm Beach Gardens, FL	2.0	2.0	1236	$3,750	$3.03	26d	1	1.08mi
401 Resort Ln Palm Beach Gardens, FL	3.0	2.5	1710	$9,600	$5.61	26d	1	1.10mi
802 Sabal Palm Ln Palm Beach Gardens, FL	3.0	2.0	1615	$9,995	$6.19	26d	1	1.11mi
438 Brackenwood Ln S Palm Beach Gardens, FL	2.0	2.0	1366	$3,000	$2.20	26d	1	1.11mi

HOA detail condo

• Monthly dues: $475 · $5,700/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   pricedays on market $415,000 Active 47 DOM
2. 2026-06-18
   days on market $420,000 Active 44 DOM
3. 2026-06-17
   days on market $420,000 Active 43 DOM
4. 2026-06-16
   days on market $420,000 Active 42 DOM
5. 2026-06-15
   days on market $420,000 Active 41 DOM
6. 2026-06-13
   days on market $420,000 Active 39 DOM
7. 2026-06-09
   days on market $420,000 Active 35 DOM
8. 2026-06-08
   days on market $420,000 Active 34 DOM
9. 2026-06-07
   days on market $420,000 Active 33 DOM
10. 2026-06-04
    days on market $420,000 Active 30 DOM
11. 2026-06-03
    days on market $420,000 Active 29 DOM
12. 2026-06-02
    days on market $420,000 Active 28 DOM
13. 2026-06-01
    days on market $420,000 Active 27 DOM
14. 2026-05-31
    days on market $420,000 Active 26 DOM
15. 2026-05-05
    listed $429,000 Active
16. 2017-08-01
    soldstatus $198,000
17. 2001-06-19
    soldstatus $117,000
18. 2001-06-15
    soldstatus $119,900 127-char remark

    Show marketing remark (127 chars)

    IMMACULATE CORNER UNIT. NEW TILE FLOORS, NEW TRANE A/C, TILED PATIO, FURNITURE NEGOTIABLE. HEATED COMMUNITY POOL. 1 CAR GARAGE.

19. 2001-05-03
    historical 127-char remark

    Show marketing remark (127 chars)

    IMMACULATE CORNER UNIT. NEW TILE FLOORS, NEW TRANE A/C, TILED PATIO, FURNITURE NEGOTIABLE. HEATED COMMUNITY POOL. 1 CAR GARAGE.

20. 2001-04-27
    listed $119,900 127-char remark

    Show marketing remark (127 chars)

    IMMACULATE CORNER UNIT. NEW TILE FLOORS, NEW TRANE A/C, TILED PATIO, FURNITURE NEGOTIABLE. HEATED COMMUNITY POOL. 1 CAR GARAGE.

21. 1991-06-11
    soldstatus $93,500
22. 1988-07-05
    soldstatus $110,900

ⓘ 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: $3,279 · $273/mo
• Projected year-2 tax: $3,444 · $287/mo
• Expected delta: +$165/yr (+$14/mo · 5.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 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: $46,531
• − Mortgage interest: −$23,246
• − Property taxes: −$3,279
• − Insurance: −$2,075
• − Repairs & maintenance: −$3,723
• − Management: −$3,723
• − HOA: −$5,700
• − Depreciation: −$12,073
• Taxable loss: −$7,287
• Est. tax savings @ 24.0%: +$1,749
• After-tax cash flow: $1,339/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 — Palm Beach Gardens

• Score: 69/100
• State rank: #464
• US rank: #8366

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing A+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Beach Gardens, FL
• County: Palm Beach County · 1,438,312 people
• City population: 96,294
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 43,676
• Household income: $125,497
• Rent vs Own: 23.3% rent · 76.7% own
• Severe rent burden: 1339.0

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: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 13% Two or more races 9% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 5% Lithuanian 4% Scotch-Irish 4%
• Foreign-born: 15% · Canada, China, Jamaica
• Languages at home: 83% English-only · Spanish 8% German/W. Germanic 2% 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: ▼ -172.79%
• Current HPI: 361.1997
• Rent YoY: ▲ 2.00%
• 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

+286.8% since first listed

8 events — show timeline

• 2026-05-05 Listed $429,000 MARMLS
• 2017-08-01 Sold (Public Records) $198,000 Public Records
• 2001-06-19 Sold (Public Records) $117,000 Public Records
• 2001-06-15 Sold (MLS) $119,900 Beaches MLS
• 2001-05-03 Listing Removed — Beaches MLS
• 2001-04-27 Listed $119,900 Beaches MLS
• 1991-06-11 Sold (Public Records) $93,500 Public Records
• 1988-07-05 Sold (Public Records) $110,900 Public Records

Property tax history

+0.3%/yr

Latest (2025): $3,279 · +3.0% YoY. Source: county tax records.