470 Executive Center Dr Unit 4n · West Palm Beach, FL 33401

$150,000

2 bd · 2.0 ba · 960 sqft · Condo public records · 69 Days on market

Built 1979 $758/mo HOA · 21% 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

As low as 3% down with 1 year interest rate deduction. See lender buydown document. Competitively priced, Move in ready, vacant. Recently updated 2/2, Fourth Floor corner end unit condo in West Palm Beach. New Kitchen Cabinets, New Kitchen Counter Top, New Microwave, Lighting, Commodes, Bathroom vanities. Updated bathrooms, freshly painted, & New Blinds. Great location, close to Tanger Outlet Mall, shopping, restaurants, airport, & beaches. Easy to show, Vacant, Appointment Near Tanger Outlets, boutique shopping, Norton Art Museum, Kravis Center, PBC Convention Center, Cityplace, shopping, dining - gourmet restaurants, I-95, Medical facilities, beaches, & airport! Spacious Cl

Key facts

• $758 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Multifamily community with 195 units; Pets allowed with breed, number, and size restrictions
• HOA & community: Part of an association (Breakwaters of the Palm Beaches); Monthly HOA fee of 758; HOA covers cable TV, insurance, grounds and structure maintenance, security, sewer, trash, water, common areas, elevator, reserve funds, roof repairs, and pool service; Community amenities: clubhouse, pool, fitness center, sauna, billiard and game rooms, tennis courts, car wash area, picnic area, storage, laundry, manager on site, trash chute, hobby room, kitchen facilities, lobby, sidewalks, street lights, gated entry, security and on-site management

Exterior

• Parking: Assigned parking plus guest parking; One open parking space (total parking 1); No carport
• Security: Closed-circuit cameras; Entry phone/intercom; Gated community (no guard)
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Underground utilities; Water and sewer available
• Home design: Condominium; Single-level (one story); Resale condition; Faces east; Accessible entrance, accessible elevator, accessible hallways and ramp; common area accessibility
• Construction: CBS construction (concrete block/stucco); Built with tile roof; Slab foundation; Building has five stories
• Exterior features: Storage room; Fenced property with security fencing; Tile roof; Slab foundation; Zero lot line; Asphalt-paved road access; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: Two main-level bedrooms
• Flooring: Ceramic tile; Laminate; Wood
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central heating (electric, heat strip); Central air conditioning with ceiling fans
• Interior features: Split bedroom layout; No additional interior features listed
• Laundry & utility: Laundry in common area (in hall)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $150k).
• Recommended offer: $141k (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: Westward Elementary School (math 30% / reading 29%, grade F, #1,896 of 2,144 statewide, top 90%, 500 students, 81% FRL); Bear Lakes Middle School (math 19% / reading 33%, grade F, #506 of 571 statewide, top 89%, 842 students, 74% FRL); Palm Beach Lakes High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 2,688 students, 70% FRL) — zoned schools average 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 50% district-wide (-24 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 rising fast (+5.2%/yr); 507 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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 $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y 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 $31k; list at $150k implies a 384% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% 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 $141,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 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 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. 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: 2.45% ✓
• Cap rate: 16.38%
• Cash-on-cash: 36.02%
• DSCR: 2.60
• GRM: 3.4

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: 34.9%
• Equity multiple: 2.54×
• Total profit: $64,513
• Equity at exit: $22,365

10-year hold

• IRR: 43.2%
• Equity multiple: 5.67×
• Total profit: $196,061
• Equity at exit: $12,969

Cash invested: $42,000 (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: 3.4×

Monthly cashflow live

• Estimated rent: $3,670 high
• Mortgage (P&I): −$787
• Tax from tax record: −$32 /mo · $384/yr
• Insurance: −$62
• HOA: −$758
• Vacancy / Maint / Mgmt: −$771
• Net cashflow: $1,261

Break-even live

Break-even rent $2,075

Max offer price $150,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,345	-5% $1,303	+0% $1,261	+5% $1,218	+10% $1,176
Rent	-10% $971	-5% $1,116	+0% $1,261	+5% $1,406	+10% $1,550
Rate	-1.0pp $1,336	-0.5pp $1,299	base $1,261	+0.5pp $1,222	+1.0pp $1,182

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: $37,500
• Closing costs: $4,500
• 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	0.43mi
300 S Australian Ave #328 West Palm Beach, FL	1.0	1.0	846	$4,050	$4.79	21d	1	0.82mi
300 S Australian Ave #1608 West Palm Beach, FL	2.0	2.0	1085	$6,000	$5.53	25d	1	0.82mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	727	$4,653	$6.40	25d	19	0.85mi
201 Clearwater Dr West Palm Beach, FL	2.0	1.0–2.0	731	$6,632	$9.07	11d	16	0.85mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1090	$3,348	$3.07	14d	2	0.94mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1090	$3,248	$2.98	12d	3	0.94mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1112	$3,348	$3.01	6d	2	0.94mi
616 Clearwater Park Rd West Palm Beach, FL	2.0	2.0	1130	$3,245	$2.87	4d	3	0.94mi
616 Clearwater Park Rd Unit Lp01 West Palm Beach, FL	2.0	2.0	1112	$3,495	$3.14	25d	1	0.96mi
921 8th St West Palm Beach, FL	3.0	1.0	1000	$3,395	$3.40	25d	1	1.08mi
630 S Sapodilla Ave West Palm Beach, FL	1.0–2.0	1.0–2.0	948	$3,950	$4.17	25d	2	1.20mi
630 S Sapodilla Ave West Palm Beach, FL	1.0–2.0	1.0–2.0	948	$3,950	$4.17	18d	3	1.20mi
609 2nd St West Palm Beach, FL	2.0	2.0	978	$3,325	$3.40	4d	1	1.20mi
609 2nd St West Palm Beach, FL	2.0	2.0	1063	$3,240	$3.05	25d	1	1.20mi
609 2nd St West Palm Beach, FL	2.0	2.0	978	$3,015	$3.08	19d	1	1.20mi
720 S Sapodilla Ave #502 West Palm Beach, FL	2.0	2.0	1120	$3,750	$3.35	25d	1	1.22mi
780 S Sapodilla Ave West Palm Beach, FL	2.0	2.0	1120	$5,125	$4.58	8d	2	1.23mi
591 Evernia St West Palm Beach, FL	2.0	1.0–2.0	943	$6,321	$6.70	0d	25	1.24mi
651 Okeechobee Blvd West Palm Beach, FL	2.0	2.0–2.5	1078	$3,998	$3.71	3d	6	1.29mi
651 Okeechobee Blvd West Palm Beach, FL	1.0–2.0	1.0–2.5	887	$5,000	$5.63	14d	5	1.29mi
651 Okeechobee Blvd West Palm Beach, FL	2.0	2.0–2.5	1050	$3,375	$3.21	25d	3	1.29mi
651 Okeechobee Blvd West Palm Beach, FL	2.0	2.0–2.5	1050	$3,500	$3.33	23d	2	1.29mi
651 Okeechobee Blvd Unit 651 West Palm Beach, FL	2.0	2.0	1040	$3,000	$2.88	17d	1	1.29mi
651 Okeechobee Blvd West Palm Beach, FL	2.0	2.0–2.5	1050	$4,050	$3.86	3d	5	1.29mi
1500 Centrepark Blvd West Palm Beach, FL	2.0	1.0–2.0	862	$3,015	$3.50	0d	18	1.35mi
1050 Blanche St West Palm Beach, FL	2.0	1.0–2.0	740	$3,374	$4.56	3d	8	1.36mi
823 14th St West Palm Beach, FL	3.0	1.0	1000	$3,495	$3.50	25d	1	1.37mi
1991 Presidential Way West Palm Beach, FL	1.0	1.0	827	$3,427	$4.14	8d	1	1.38mi
550 Okeechobee Blvd Unit Uph-03 West Palm Beach, FL	2.0	2.0	1120	$8,000	$7.14	25d	1	1.41mi
550 Okeechobee Blvd #1409 West Palm Beach, FL	2.0	2.0	1120	$10,000	$8.93	25d	1	1.42mi
550 Okeechobee Blvd #1407 West Palm Beach, FL	2.0	2.0	1120	$4,250	$3.79	25d	1	1.42mi
550 Okeechobee Blvd #612 West Palm Beach, FL	1.0	1.0	755	$5,000	$6.62	25d	1	1.42mi
550 Okeechobee Blvd #504 West Palm Beach, FL	2.0	2.0	1120	$3,700	$3.30	25d	1	1.42mi
550 Okeechobee Blvd #1605 West Palm Beach, FL	2.0	2.0	1120	$4,000	$3.57	5d	1	1.42mi
550 Okeechobee Blvd Unit Mph-16 West Palm Beach, FL	1.0	1.0	755	$4,800	$6.36	25d	1	1.42mi
550 Okeechobee Blvd Unit Lph-06 West Palm Beach, FL	2.0	2.0	1120	$8,800	$7.86	25d	1	1.42mi
550 Okeechobee Blvd Unit Mph-16 West Palm Beach, FL	1.0	1.0	755	$4,800	$6.36	8d	1	1.42mi
1104 State St Unit C West Palm Beach, FL	3.0	1.0	875	$3,000	$3.43	25d	1	1.43mi
499 Evernia St West Palm Beach, FL	2.0	1.0–2.0	827	$4,114	$4.97	0d	27	1.43mi

HOA detail condo

• Monthly dues: $758 · $9,096/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-21
   days on market $150,000 Active 69 DOM
2. 2026-06-18
   days on market $150,000 Active 66 DOM
3. 2026-06-17
   days on market $150,000 Active 65 DOM
4. 2026-06-16
   days on market $150,000 Active 64 DOM
5. 2026-06-15
   days on market $150,000 Active 63 DOM
6. 2026-06-13
   days on market $150,000 Active 61 DOM
7. 2026-06-09
   days on market $150,000 Active 57 DOM
8. 2026-06-08
   days on market $150,000 Active 56 DOM
9. 2026-06-07
   days on market $150,000 Active 55 DOM
10. 2026-06-04
    days on market $150,000 Active 52 DOM
11. 2026-06-03
    days on market $150,000 Active 51 DOM
12. 2026-06-02
    days on market $150,000 Active 50 DOM
13. 2026-06-01
    days on market $150,000 Active 49 DOM
14. 2026-05-31
    days on market $150,000 Active 48 DOM
15. 2026-04-13
    listed $150,000 Active
16. 2013-09-22
    historical
17. 2010-02-02
    historical
18. 2009-02-02
    listed $69,900
19. 2005-02-16
    listed $130,000
20. 2000-06-26
    historical
21. 2000-02-02
    listed $43,000
22. 1997-03-18
    soldstatus $31,000
23. 1983-04-01
    soldstatus $49,900

ⓘ 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: $384 · $32/mo
• Projected year-2 tax: $1,245 · $104/mo
• Expected delta: +$861/yr (+$72/mo · 224.5%)

ⓘ 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: $44,045
• − Mortgage interest: −$8,402
• − Property taxes: −$384
• − Insurance: −$750
• − Repairs & maintenance: −$3,524
• − Management: −$3,524
• − HOA: −$9,096
• − Depreciation: −$4,364
• Taxable income: $14,002
• Est. tax owed @ 24.0%: −$3,360
• After-tax cash flow: $11,766/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

+200.6% since first listed

9 events — show timeline

• 2026-04-13 Listed $150,000 Beaches MLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2010-02-02 Listing Removed — Beaches MLS
• 2009-02-02 Listed $69,900 Beaches MLS
• 2005-02-16 Listed $130,000 Beaches MLS
• 2000-06-26 Listing Removed — Beaches MLS
• 2000-02-02 Listed $43,000 Beaches MLS
• 1997-03-18 Sold (Public Records) $31,000 Public Records
• 1983-04-01 Sold (Public Records) $49,900 Public Records

Property tax history

+3.3%/yr

Latest (2025): $384 · +8.2% YoY. Source: county tax records.