409 Executive Center Dr #208 · West Palm Beach, FL 33401

$179,000

2 bd · 2.0 ba · 925 sqft · Condo public records · 99 Days on market

Built 1971 $467/mo HOA · 13% of rent ↓ 8% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for investors, very nice property 2x2 , all new title and cabinets, community pool security, basketball court bbq grills, easy to rent. Close from Beautiful city place west palm beach downtown, Clammers street , financial district night life . Already rented . income come in, great deal.

Key facts

• Community laundry
• Covered balcony
• Basketball court

Tags

• COVERED BALCONY
• GRANITE COUNTERTOP
• POOL AND TENNIS COURT
• BASKETBALL COURT
• BBQ GRILLS FACILITIES
• COMMUNITY LAUNDRY

Property features AI

Finance

• Other: Pets allowed with no restrictions
• HOA & community: Part of Clear Lake Palms association; Monthly HOA fee (approximately $467.13); Association amenities include basketball court, park, picnic area, playground, pool, management, manager on site, and recreation facility; HOA covers grounds and structure maintenance, water, common areas, roof repairs, and recreation facility

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; No additional utilities listed
• Home design: Condominium; 2-story building; Resale condition; Faces north
• Construction: CBS (concrete block stucco) construction; Building area approximately 980 total; Living area approximately 925
• Exterior features: Not waterfront; Concrete roof

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Ceramic tile; Laminate; Tile; Wood
• Bathrooms: 2 full bathrooms (1 on the main level)
• Heating & cooling: Central electric heating; Electric cooling
• Interior features: Walk-in closet(s)
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $179k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $179k).
• Recommended offer: $163k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.4% vs local median 3.8% in West Palm Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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.
• Market conditions: Rents rising fast (+5.2%/yr); 506 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $3,527/mo this rent would consume 62% of the median local household income ($68k/yr) (locally 2953% 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 $1k of loan paydown is wiped out by about $5k 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 + 5.2% rent growth), your $50k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y 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 $72k; list at $179k implies a 149% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,890 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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: 1.97% ✓
• Cap rate: 13.37%
• Cash-on-cash: 25.29%
• DSCR: 2.13
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.15% rent growth · sell at horizon

5-year hold

• IRR: 21.9%
• Equity multiple: 1.93×
• Total profit: $46,413
• Equity at exit: $26,689

10-year hold

• IRR: 31.6%
• Equity multiple: 4.23×
• Total profit: $161,903
• Equity at exit: $15,477

Cash invested: $50,120 (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 33401

• Rents YoY: 5.2%
• Active inventory: 506
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $3,527 high
• Mortgage (P&I): −$939
• Tax from tax record: −$250 /mo · $3,000/yr
• Insurance: −$75
• HOA: −$467
• Vacancy / Maint / Mgmt: −$741
• Net cashflow: $1,056

Break-even live

Break-even rent $2,190

Max offer price $179,000

Occupancy floor 65%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$2,705	$2.53	19d	19	0.35mi
300 S Australian Ave #328 West Palm Beach, FL	1.0	1.0	846	$4,050	$4.79	20d	1	0.93mi
300 S Australian Ave #1608 West Palm Beach, FL	2.0	2.0	1085	$6,000	$5.53	24d	1	0.93mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	731	$6,632	$9.07	10d	16	0.97mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	727	$4,653	$6.40	24d	19	0.97mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1112	$3,348	$3.01	5d	2	1.03mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1090	$3,248	$2.98	11d	3	1.03mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1130	$3,245	$2.87	3d	3	1.03mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1090	$3,348	$3.07	14d	2	1.03mi
616 Clearwater Park Rd Unit Lp01 West Palm Beach, FL	2.0	2.0	1112	$3,495	$3.14	24d	1	1.05mi
921 8th St West Palm Beach, FL	3.0	1.0	1000	$3,395	$3.40	24d	1	1.22mi
630 S Sapodilla Ave West Palm Beach, FL	1.0–2.0	1.0–2.0	948	$3,950	$4.17	17d	3	1.30mi
630 S Sapodilla Ave West Palm Beach, FL	1.0–2.0	1.0–2.0	948	$3,950	$4.17	24d	2	1.30mi
1500 Centrepark Blvd West Palm Beach, FL	2.0	1.0–2.0	862	$3,002	$3.48	1d	18	1.30mi
720 S Sapodilla Ave #502 West Palm Beach, FL	2.0	2.0	1120	$3,750	$3.35	24d	1	1.31mi
780 S Sapodilla Ave West Palm Beach, FL	2.0	2.0	1120	$5,125	$4.58	7d	2	1.32mi
609 2nd St West Palm Beach, FL	2.0	2.0	1063	$3,240	$3.05	24d	1	1.33mi
609 2nd St West Palm Beach, FL	2.0	2.0	978	$3,015	$3.08	18d	1	1.33mi
609 2nd St West Palm Beach, FL	2.0	2.0	978	$3,325	$3.40	3d	1	1.33mi
591 Evernia St West Palm Beach, FL	2.0	1.0–2.0	943	$6,321	$6.70	3d	26	1.35mi
651 Okeechobee Blvd West Palm Beach, FL	2.0	2.0–2.5	1050	$3,375	$3.21	24d	3	1.38mi
651 Okeechobee Blvd West Palm Beach, FL	2.0	2.0–2.5	1078	$3,998	$3.71	2d	6	1.38mi
651 Okeechobee Blvd West Palm Beach, FL	1.0–2.0	1.0–2.5	887	$5,000	$5.63	14d	5	1.38mi
651 Okeechobee Blvd Unit 651 West Palm Beach, FL	2.0	2.0	1040	$3,000	$2.88	16d	1	1.38mi
651 Okeechobee Blvd West Palm Beach, FL	2.0	2.0–2.5	1050	$3,500	$3.33	22d	2	1.38mi
651 Okeechobee Blvd West Palm Beach, FL	2.0	2.0–2.5	1050	$4,050	$3.86	2d	5	1.38mi
1050 Blanche St West Palm Beach, FL	2.0	1.0–2.0	740	$3,374	$4.56	2d	8	1.38mi
1991 Presidential Way West Palm Beach, FL	1.0	1.0	827	$3,427	$4.14	7d	1	1.41mi
550 Okeechobee Blvd Unit Uph-03 West Palm Beach, FL	2.0	2.0	1120	$8,000	$7.14	24d	1	1.49mi

HOA detail condo

• Monthly dues: $467 · $5,604/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $179,000 Active 99 DOM
2. 2026-06-17
   days on market $179,000 Active 98 DOM
3. 2026-06-16
   days on market $179,000 Active 97 DOM
4. 2026-06-15
   days on market $179,000 Active 96 DOM
5. 2026-06-13
   days on market $179,000 Active 94 DOM
6. 2026-06-09
   days on market $179,000 Active 90 DOM
7. 2026-06-08
   days on market $179,000 Active 89 DOM
8. 2026-06-07
   days on market $179,000 Active 88 DOM
9. 2026-06-04
   days on market $179,000 Active 85 DOM
10. 2026-06-03
    days on market $179,000 Active 84 DOM
11. 2026-06-02
    days on market $179,000 Active 83 DOM
12. 2026-06-01
    days on market $179,000 Active 82 DOM
13. 2026-05-31
    days on market $179,000 Active 81 DOM
14. 2026-03-11
    listed $179,000 Active
15. 2024-02-16
    historical $1,850
16. 2024-02-16
    listed $1,850
17. 2017-03-09
    soldstatus $72,000
18. 2017-02-01
    soldstatus $100,000
19. 2016-10-19
    soldstatus $72,000 Closed 307-char remark

    Show marketing remark (307 chars)

    Great opportunity for investors, very nice property 2x2 , all new title and cabinets, community pool security, basketball court bbq grills, easy to rent. Close from Beautiful city place west palm beach downtown, Clammers street , financial district night life . Already rented . income come in, great deal.

20. 2016-10-13
    status Pending 307-char remark

    Show marketing remark (307 chars)

    Great opportunity for investors, very nice property 2x2 , all new title and cabinets, community pool security, basketball court bbq grills, easy to rent. Close from Beautiful city place west palm beach downtown, Clammers street , financial district night life . Already rented . income come in, great deal.

21. 2016-04-09
    price $79,000 307-char remark

    Show marketing remark (307 chars)

    Great opportunity for investors, very nice property 2x2 , all new title and cabinets, community pool security, basketball court bbq grills, easy to rent. Close from Beautiful city place west palm beach downtown, Clammers street , financial district night life . Already rented . income come in, great deal.

22. 2016-04-09
    listed $79 Active 307-char remark

    Show marketing remark (307 chars)

    Great opportunity for investors, very nice property 2x2 , all new title and cabinets, community pool security, basketball court bbq grills, easy to rent. Close from Beautiful city place west palm beach downtown, Clammers street , financial district night life . Already rented . income come in, great deal.

23. 2011-03-18
    soldstatus $21,000 253-char remark

    Show marketing remark (253 chars)

    Beautiful unit with hardwood floors through-out. Functional floor-plan, conveniently located near City Place. Financing incentives available through GMAC Mortgage for borrowers purchasing this property, please speak with the Listing Realtor for details.

24. 2008-12-18
    historical
25. 2008-04-01
    listed $195,000

ⓘ 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: $3,000 · $250/mo
• Projected year-2 tax: $3,000 · $250/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 ≥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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,326
• − Mortgage interest: −$10,027
• − Property taxes: −$3,000
• − Insurance: −$895
• − Repairs & maintenance: −$3,386
• − Management: −$3,386
• − HOA: −$5,604
• − Depreciation: −$5,207
• Taxable income: $10,821
• Est. tax owed @ 24.0%: −$2,597
• After-tax cash flow: $10,077/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

• Census place: West Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,698
• Household income: $67,967
• Rent vs Own: 62.5% rent · 37.5% own
• Severe rent burden: 2953.0

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 0.68)
• Race & ethnicity: White 43% Black 32% Hispanic / Latino 17% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 3%
• Common ancestry: Hispanic 6% Slovak 2% Romanian 2%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 13% French/Haitian/Cajun 7% Other Asian/Pacific 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: ▼ -324.96%
• Current HPI: 367.0978
• Rent YoY: ▲ 5.15%
• 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

-8.2% since first listed

12 events — show timeline

• 2026-03-11 Listed $179,000 Beaches MLS
• 2024-02-16 Rental Removed $1,850 GFLMLS
• 2024-02-16 Listed for Rent $1,850 GFLMLS
• 2017-03-09 Sold (Public Records) $72,000 Public Records
• 2017-02-01 Sold (Public Records) $100,000 Public Records
• 2016-10-19 Sold (MLS) $72,000 Beaches MLS
• 2016-10-13 Pending — Beaches MLS
• 2016-04-09 Price Changed $79,000 Beaches MLS
• 2016-04-09 Listed $79 Beaches MLS
• 2011-03-18 Sold (MLS) $21,000 MARMLS
• 2008-12-18 Listing Removed — Beaches MLS
• 2008-04-01 Listed $195,000 Beaches MLS

Property tax history

+11.6%/yr

Latest (2025): $3,000 · +5.9% YoY. Source: county tax records.