500 Executive Center Dr Unit 1J · West Palm Beach, FL 33401

$118,000

2 bd · 2.0 ba · 1,133 sqft · Condo public records · 59 Days on market

Built 1979 $881/mo HOA · 24% 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 +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

NOT A SHORT SALE!! NOT BANK OWNED!! GREAT BUY CLOSE TO DOWNTOWN, CITY PLACE, BEACHES & MORE!! FIRST FLOOR UNIT IN COMPLEX WITH BEAUTIFUL POOL, TENNIS & MORE! APPLIANCES NEW IN 2008. GATED COMMUNITY PLUS SECURE LOBBY. GREAT BUY!!

Key facts

• $881 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets allowed with size limit (more than 20 lbs permitted)
• HOA & community: Monthly association fee; Association fee covers insurance, laundry, grounds maintenance, structure maintenance, roof, sewer, trash and water; Community amenities include pool and tennis courts

Exterior

• Parking: One assigned parking space
• Security: Complex is fenced; Intercom system
• Utilities: Water and sewer included in association services; Electric power available
• Home design: Attached property; 4-story building; First-floor entry
• Construction: Brick construction; Resale property
• Exterior features: No notable exterior features listed; Association pool

Interior

• Kitchen: Dishwasher
• Bedrooms: Bedroom located on the main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Bedroom on main level; Tub/shower
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $118k.

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 $118k).
• Recommended offer: $114k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.6% 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); 507 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); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $3,643/mo this rent would consume 64% 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 $816 of loan paydown is wiped out by about $4k 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 $33k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 27y ago; this cycle's ask has dropped $21k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $118k implies a 374% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,460 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.09% ✓
• Cap rate: 17.64%
• Cash-on-cash: 40.53%
• DSCR: 2.80
• GRM: 2.7

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: 40.8%
• Equity multiple: 2.84×
• Total profit: $60,639
• Equity at exit: $17,594

10-year hold

• IRR: 48.6%
• Equity multiple: 6.49×
• Total profit: $181,429
• Equity at exit: $10,202

Cash invested: $33,040 (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: 507
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $3,643 high
• Mortgage (P&I): −$619
• Tax from tax record: −$213 /mo · $2,560/yr
• Insurance: −$49
• HOA: −$881
• Vacancy / Maint / Mgmt: −$765
• Net cashflow: $1,116

Break-even live

Break-even rent $2,231

Max offer price $118,000

Occupancy floor 64%

Sensitivity live

Price	-10% $1,183	-5% $1,149	+0% $1,116	+5% $1,083	+10% $1,049
Rent	-10% $828	-5% $972	+0% $1,116	+5% $1,260	+10% $1,404
Rate	-1.0pp $1,175	-0.5pp $1,146	base $1,116	+0.5pp $1,085	+1.0pp $1,054

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Rent comps 40 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	20d	19	0.46mi
300 S Australian Ave #1608 West Palm Beach, FL	2.0	2.0	1085	$6,000	$5.53	25d	1	0.81mi
300 S Australian Ave #1418 West Palm Beach, FL	2.0	2.0	1225	$7,000	$5.71	0d	1	0.81mi
300 S Australian Ave West Palm Beach, FL	3.0	2.0	1377	$6,000	$4.36	25d	1	0.81mi
300 S Australian Ave #328 West Palm Beach, FL	1.0	1.0	846	$4,050	$4.79	21d	1	0.81mi
300 S Australian Ave #419 West Palm Beach, FL	2.0	2.0	1186	$3,750	$3.16	17d	1	0.81mi
300 S Australian Ave West Palm Beach, FL	2.0	2.0	1245	$3,250	$2.61	0d	1	0.81mi
300 S Australian Ave #1605 West Palm Beach, FL	3.0	2.0	1188	$4,800	$4.04	25d	1	0.81mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	731	$6,632	$9.07	11d	16	0.84mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	727	$4,653	$6.40	25d	19	0.84mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1112	$3,348	$3.01	6d	2	0.91mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1130	$3,245	$2.87	4d	3	0.91mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1090	$3,348	$3.07	15d	2	0.91mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1090	$3,248	$2.98	12d	3	0.91mi
616 Clearwater Park Rd Unit Lp01 West Palm Beach, FL	2.0	2.0	1112	$3,495	$3.14	25d	1	0.93mi
1319 13th St West Palm Beach, FL	3.0	2.0	1215	$3,200	$2.63	25d	1	1.06mi
921 8th St West Palm Beach, FL	3.0	1.0	1000	$3,395	$3.40	25d	1	1.11mi
403 S Sapodilla Ave #218 West Palm Beach, FL	2.0	2.0	1133	$3,300	$2.91	25d	1	1.13mi
403 S Sapodilla Ave #806 West Palm Beach, FL	2.0	2.0	1145	$6,500	$5.68	25d	1	1.13mi
630 S Sapodilla Ave West Palm Beach, FL	1.0–2.0	1.0–2.0	948	$3,950	$4.17	25d	2	1.18mi
630 S Sapodilla Ave West Palm Beach, FL	1.0–2.0	1.0–2.0	948	$3,950	$4.17	18d	3	1.18mi
720 S Sapodilla Ave #502 West Palm Beach, FL	2.0	2.0	1120	$3,750	$3.35	25d	1	1.19mi
610 Clematis St #704 West Palm Beach, FL	2.0	2.0	1130	$3,250	$2.88	0d	1	1.20mi
780 S Sapodilla Ave West Palm Beach, FL	2.0	2.0	1120	$5,125	$4.58	8d	2	1.21mi
609 2nd St West Palm Beach, FL	2.0	2.0	978	$3,015	$3.08	19d	1	1.21mi
609 2nd St West Palm Beach, FL	2.0	2.0	1063	$3,240	$3.05	25d	1	1.21mi
609 2nd St West Palm Beach, FL	2.0	2.0	978	$3,325	$3.40	4d	1	1.21mi
610 Clematis St West Palm Beach, FL	2.0	2.0	1139	$3,300	$2.90	11d	2	1.22mi
610 Clematis St West Palm Beach, FL	2.0	2.0	1130	$3,425	$3.03	25d	1	1.22mi
610 Clematis St West Palm Beach, FL	2.0	2.0	1130	$3,325	$2.94	25d	2	1.22mi
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	25d	1	1.22mi
591 Evernia St West Palm Beach, FL	2.0	1.0–2.0	943	$6,321	$6.70	0d	22	1.23mi
2018 Whitney Rd West Palm Beach, FL	3.0	2.0	1169	$3,100	$2.65	0d	1	1.24mi
651 Okeechobee Blvd West Palm Beach, FL	2.0	2.0–2.5	1050	$4,050	$3.86	3d	5	1.26mi
651 Okeechobee Blvd West Palm Beach, FL	2.0	2.0–2.5	1050	$3,500	$3.33	23d	2	1.26mi
651 Okeechobee Blvd West Palm Beach, FL	2.0	2.0–2.5	1078	$3,998	$3.71	3d	6	1.26mi
651 Okeechobee Blvd Unit 651 West Palm Beach, FL	2.0	2.0	1040	$3,000	$2.88	17d	1	1.26mi
651 Okeechobee Blvd West Palm Beach, FL	1.0–2.0	1.0–2.5	887	$5,000	$5.63	15d	5	1.26mi
651 Okeechobee Blvd West Palm Beach, FL	2.0	2.0–2.5	1050	$3,375	$3.21	25d	3	1.26mi
1500 Centrepark Blvd West Palm Beach, FL	2.0	1.0–2.0	862	$3,015	$3.50	0d	18	1.28mi

HOA detail condo

• Monthly dues: $881 · $10,572/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-21
   days on market $118,000 Active 59 DOM
2. 2026-06-18
   days on market $118,000 Active 56 DOM
3. 2026-06-17
   days on market $118,000 Active 55 DOM
4. 2026-06-16
   days on market $118,000 Active 54 DOM
5. 2026-06-15
   days on market $118,000 Active 53 DOM
6. 2026-06-13
   days on market $118,000 Active 51 DOM
7. 2026-06-10
   price $118,000 Active 47 DOM
8. 2026-06-09
   days on market $129,000 Active 47 DOM
9. 2026-06-08
   days on market $129,000 Active 46 DOM
10. 2026-06-07
    days on market $129,000 Active 45 DOM
11. 2026-06-04
    days on market $129,000 Active 42 DOM
12. 2026-06-03
    days on market $129,000 Active 41 DOM
13. 2026-06-02
    days on market $129,000 Active 40 DOM
14. 2026-06-01
    days on market $129,000 Active 39 DOM
15. 2026-05-31
    days on market $129,000 Active 38 DOM
16. 2026-05-20
    price $129,000
17. 2026-04-23
    listed $139,000 Active
18. 2013-09-21
    historical
19. 2011-02-24
    soldstatus $24,900 240-char remark

    Show marketing remark (240 chars)

    NOT A SHORT SALE!! NOT BANK OWNED!! GREAT BUY CLOSE TO DOWNTOWN, CITY PLACE, BEACHES & MORE!! FIRST FLOOR UNIT IN COMPLEX WITH BEAUTIFUL POOL, TENNIS & MORE! APPLIANCES NEW IN 2008. GATED COMMUNITY PLUS SECURE LOBBY. GREAT BUY!!

20. 2011-01-25
    historical 240-char remark

    Show marketing remark (240 chars)

    NOT A SHORT SALE!! NOT BANK OWNED!! GREAT BUY CLOSE TO DOWNTOWN, CITY PLACE, BEACHES & MORE!! FIRST FLOOR UNIT IN COMPLEX WITH BEAUTIFUL POOL, TENNIS & MORE! APPLIANCES NEW IN 2008. GATED COMMUNITY PLUS SECURE LOBBY. GREAT BUY!!

21. 2011-01-18
    listed $24,900 240-char remark

    Show marketing remark (240 chars)

    NOT A SHORT SALE!! NOT BANK OWNED!! GREAT BUY CLOSE TO DOWNTOWN, CITY PLACE, BEACHES & MORE!! FIRST FLOOR UNIT IN COMPLEX WITH BEAUTIFUL POOL, TENNIS & MORE! APPLIANCES NEW IN 2008. GATED COMMUNITY PLUS SECURE LOBBY. GREAT BUY!!

22. 2008-04-30
    historical
23. 2007-10-12
    listed $115,000
24. 2007-01-16
    listed $150,000
25. 1999-05-20
    soldstatus $45,500
26. 1999-05-01
    historical
27. 1999-03-12
    listed $46,900
28. 1985-05-01
    soldstatus $48,500

ⓘ 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: $2,560 · $213/mo
• Projected year-2 tax: $2,560 · $213/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 · 25 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: $43,720
• − Mortgage interest: −$6,610
• − Property taxes: −$2,560
• − Insurance: −$590
• − Repairs & maintenance: −$3,498
• − Management: −$3,498
• − HOA: −$10,572
• − Depreciation: −$3,433
• Taxable income: $12,960
• Est. tax owed @ 24.0%: −$3,110
• After-tax cash flow: $10,281/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

+166.0% since first listed

13 events — show timeline

• 2026-05-20 Price Changed $129,000 MARMLS
• 2026-04-23 Listed $139,000 MARMLS
• 2013-09-21 Listing Removed — Beaches MLS
• 2011-02-24 Sold (MLS) $24,900 Beaches MLS
• 2011-01-25 Listing Removed — Beaches MLS
• 2011-01-18 Listed $24,900 Beaches MLS
• 2008-04-30 Listing Removed — Beaches MLS
• 2007-10-12 Listed $115,000 Beaches MLS
• 2007-01-16 Listed $150,000 Beaches MLS
• 1999-05-20 Sold (MLS) $45,500 Beaches MLS
• 1999-05-01 Listing Removed — Beaches MLS
• 1999-03-12 Listed $46,900 Beaches MLS
• 1985-05-01 Sold (Public Records) $48,500 Public Records

Property tax history

+16.5%/yr

Latest (2025): $2,560 · +3.8% YoY. Source: county tax records.