4820 Lucerne Lakes Blvd #106 · Greenacres, FL 33467

$110,000

2 bd · 2.0 ba · 1,020 sqft · Condo public records · 342 Days on market

Built 1982 $708/mo HOA · 35% of rent

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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 +18.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2 Bedroom 2 Bath condo eat-in kitchen large Master with walk in closet . Screened patio with view of golf course. Active 55 community with Fabulous Club House & so many activities. Close to Shopping, Restaurants Florida tpke, PBI airport

Key facts

• Charming fountain
• Washer and dryer
• Water view

Tags

• WATER VIEW
• CHARMING FOUNTAIN
• WASHER AND DRYER
• COVERED SCREENED PATIO

Property features AI

Finance

• Other: Waterfront location
• HOA & community: Association managed by CMC Management; Monthly HOA fee; HOA covers cable TV, insurance, grounds maintenance, trash and water; Community amenities include pool, clubhouse, fitness center, billiard room, game room, shuffleboard, tennis courts, community room and sidewalks; Senior community

Exterior

• Parking: Assigned parking plus guest parking (1 open space assigned)
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Resale property; Faces west; 4-story building
• Construction: CBS construction
• Exterior features: Covered, screened patio and porch; Patio

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning (electric)
• Interior features: Walk-in closets; Split bedroom layout; Blinds and sliding windows; Unfurnished
• Laundry & utility: Laundry inside the unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $105 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#490 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, 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.
• Zoned schools: Discovery Key Elementary School (math 61% / reading 72%, grade B+, #473 of 2,144 statewide, top 23%, 1,050 students, 31% FRL); Woodlands Middle School (math 51% / reading 58%, grade B-, #183 of 571 statewide, top 34%, 1,551 students, 40% FRL); Santaluces Community High (math 22% / reading 39%, grade F, #434 of 667 statewide, top 66%, 2,675 students, 61% FRL).
• Market conditions: Rents soft (-0.4%/yr); 666 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $761 of loan paydown is wiped out by about $3k 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 342 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 16y ago; this cycle's ask is 6186% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.
• 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 $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 342 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.84% ✓
• Cap rate: 7.44%
• Cash-on-cash: 4.11%
• DSCR: 1.18
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.46×
• Total profit: $-16,562
• Equity at exit: $16,401

10-year hold

• IRR: -24.0%
• Equity multiple: 0.13×
• Total profit: $-26,757
• Equity at exit: $9,511

Cash invested: $30,800 (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 33467

• Rents YoY: -0.4%
• Active inventory: 666
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,026 high
• Mortgage (P&I): −$577
• Tax from tax record: −$164 /mo · $1,969/yr
• Insurance: −$46
• HOA: −$708
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $105

Break-even live

Break-even rent $1,892

Max offer price $110,000

Occupancy floor 90%

Sensitivity live

Price	-10% $168	-5% $137	+0% $105	+5% $74	+10% $43
Rent	-10% $-55	-5% $25	+0% $105	+5% $185	+10% $265
Rate	-1.0pp $161	-0.5pp $133	base $105	+0.5pp $77	+1.0pp $48

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4640 Lucerne Lakes Blvd W #605 Lake Worth, FL	2.0	1.0	900	$1,600	$1.78	16d	1	0.05mi
4760 Lucerne Lakes Blvd W #405 Lake Worth, FL	1.0	1.5	1000	$1,490	$1.49	25d	1	0.06mi
4640 Lucerne Lakes Blvd W Lake Worth, FL	2.0	1.0–2.0	960	$1,525	$1.59	6d	2	0.14mi
7281 Golf Colony Ct #204 Lake Worth, FL	1.0	1.0	857	$1,450	$1.69	13d	1	0.15mi
4735 Lucerne Lakes Blvd W Unit 410 Greenacres, FL	2.0	2.0	1330	$1,700	$1.28	23d	1	0.17mi
7593 Tahiti Ln #205 Lake Worth, FL	2.0	2.0	1186	$1,800	$1.52	25d	1	0.17mi
7257 Golf Colony Ct #203 Lake Worth, FL	2.0	2.0	790	$1,950	$2.47	9d	1	0.20mi
7250 Golf Colony Ct #104 Lake Worth, FL	2.0	2.0	815	$1,985	$2.44	25d	1	0.21mi
7250 Golf Colony Ct #104 Lake Worth, FL	2.0	2.0	815	$2,100	$2.58	0d	1	0.21mi
4575 Lucerne Lakes Blvd W #104 Lake Worth, FL	1.0	1.0	900	$1,240	$1.38	13d	1	0.22mi
4575 Lucerne Lakes Blvd W #104 Lake Worth, FL	1.0	1.0	900	$1,275	$1.42	9d	1	0.22mi
7178 Golf Colony Ct #101 Lake Worth, FL	2.0	2.0	735	$1,700	$2.31	25d	1	0.23mi
4735 Lucerne Lakes Blvd E #410 Lake Worth, FL	2.0	2.0	1330	$1,700	$1.28	25d	1	0.25mi
4725 Lucerne Lakes Blvd E Lake Worth, FL	2.0	2.0	1330	$1,950	$1.47	9d	2	0.27mi
4725 Lucerne Lakes Blvd E Lake Worth, FL	2.0	2.0	1330	$1,950	$1.47	22d	2	0.27mi
7118 Golf Colony Ct #103 Lake Worth, FL	2.0	2.0	790	$1,725	$2.18	25d	1	0.29mi
7137 Golf Colony Ct #202 Lake Worth, FL	2.0	2.0	735	$2,000	$2.72	5d	1	0.29mi
7137 Golf Colony Ct #202 Lake Worth, FL	2.0	2.0	735	$1,995	$2.71	16d	1	0.29mi
7149 Golf Colony Ct Lake Worth, FL	2.0	2.0	823	$2,098	$2.55	14d	2	0.29mi
7149 Golf Colony Ct Lake Worth, FL	2.0	2.0	823	$2,075	$2.52	3d	3	0.29mi
7149 Golf Colony Ct #104 Lake Worth, FL	2.0	2.0	790	$2,300	$2.91	25d	1	0.30mi
7091 Golf Colony Ct #201 Lake Worth, FL	2.0	2.0	735	$1,850	$2.52	15d	1	0.34mi
7101 Golf Colony Ct #102 Lake Worth, FL	2.0	2.0	790	$2,500	$3.16	25d	1	0.35mi
4698 Lucerne Lakes Blvd E #103 Lake Worth, FL	2.0	2.0	1244	$2,100	$1.69	25d	1	0.38mi
4682 Lucerne Lakes Blvd E #202 Lake Worth, FL	2.0	2.0	872	$1,800	$2.06	22d	1	0.38mi
4598 Lucerne Lakes Blvd E #101 Lake Worth, FL	2.0	2.0	872	$2,250	$2.58	25d	1	0.42mi
4598 Lucerne Lakes Blvd E #101 Lake Worth, FL	2.0	2.0	872	$2,250	$2.58	6d	1	0.42mi
4483 Luxemburg Ct #201 Lake Worth, FL	3.0	2.0	1265	$2,800	$2.21	25d	1	0.48mi
4489 Luxemburg Ct #101 Lake Worth, FL	2.0	2.0	1005	$2,000	$1.99	25d	1	0.49mi
4471 Luxemburg Ct Lake Worth, FL	2.0	2.0	1005	$2,150	$2.14	25d	2	0.49mi
4471 Luxemburg Ct #101 Lake Worth, FL	2.0	2.0	1005	$2,300	$2.29	20d	1	0.49mi
4557 Luxemburg Ct Lake Worth, FL	2.0	1.5	1065	$2,400	$2.25	25d	1	0.52mi
4539 Luxemburg Ct Lake Worth, FL	2.0	2.0	1027	$2,250	$2.19	6d	1	0.52mi
4539 Luxemburg Ct Lake Worth, FL	2.0	2.0	1005	$2,250	$2.24	25d	1	0.52mi
4657 Fountains Dr S #206 Lake Worth, FL	1.0	1.0	882	$1,650	$1.87	13d	1	0.72mi
4702 Fountains Dr S #207 Lake Worth, FL	2.0	2.5	1434	$2,600	$1.81	25d	1	0.74mi
4702 Fountains Dr S #207 Lake Worth, FL	2.0	2.5	1434	$2,600	$1.81	2d	1	0.74mi
4345 Trevi Ct #204 Lake Worth, FL	2.0	2.0	1005	$2,100	$2.09	22d	1	0.76mi
4770 Fountains Dr S #303 Lake Worth, FL	2.0	2.0	1434	$2,200	$1.53	4d	1	0.78mi
4363 Trevi Ct #203 Lake Worth, FL	1.0	1.5	761	$1,650	$2.17	25d	1	0.78mi

HOA detail condo

• Monthly dues: $708 · $8,496/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-21
   days on market $110,000 Active 342 DOM
2. 2026-06-18
   days on market $110,000 Active 339 DOM
3. 2026-06-17
   days on market $110,000 Active 338 DOM
4. 2026-06-16
   days on market $110,000 Active 337 DOM
5. 2026-06-15
   days on market $110,000 Active 336 DOM
6. 2026-06-13
   days on market $110,000 Active 334 DOM
7. 2026-06-09
   days on market $110,000 Active 330 DOM
8. 2026-06-07
   days on market $110,000 Active 328 DOM
9. 2026-06-04
   days on market $110,000 Active 325 DOM
10. 2026-06-03
    days on market $110,000 Active 324 DOM
11. 2026-06-01
    days on market $110,000 Active 322 DOM
12. 2026-05-31
    days on market $110,000 Active 321 DOM
13. 2026-05-15
    price $110,000
14. 2026-01-07
    status Active
15. 2026-01-02
    historical
16. 2025-12-08
    price $100,000
17. 2025-10-10
    price $130,000
18. 2025-09-16
    historical $1,750
19. 2025-08-18
    listed $1,750
20. 2025-07-26
    price $135,000
21. 2025-07-09
    listed $150,000 Active
22. 2022-08-22
    soldstatus $128,750
23. 2022-08-19
    soldstatus $128,750 Closed 250-char remark

    Show marketing remark (250 chars)

    This 2 Bedroom 2 Bath condo eat-in kitchen large Master with walk in closet . Screened patio with view of golf course. Active 55 community with Fabulous Club House & so many activities. Close to Shopping, Restaurants Florida tpke, PBI airport

24. 2022-07-24
    historical Active Under Contract 250-char remark

    Show marketing remark (250 chars)

    This 2 Bedroom 2 Bath condo eat-in kitchen large Master with walk in closet . Screened patio with view of golf course. Active 55 community with Fabulous Club House & so many activities. Close to Shopping, Restaurants Florida tpke, PBI airport

25. 2022-07-24
    listed $130,000 Active 250-char remark

    Show marketing remark (250 chars)

    This 2 Bedroom 2 Bath condo eat-in kitchen large Master with walk in closet . Screened patio with view of golf course. Active 55 community with Fabulous Club House & so many activities. Close to Shopping, Restaurants Florida tpke, PBI airport

26. 2014-05-29
    historical
27. 2014-03-15
    listed $48,000 Active
28. 2012-09-04
    historical
29. 2012-04-11
    listed $39,000
30. 2011-04-08
    historical
31. 2010-07-05
    listed $40,000

ⓘ 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: $1,969 · $164/mo
• Projected year-2 tax: $1,969 · $164/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 ≥106°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,307
• − Mortgage interest: −$6,162
• − Property taxes: −$1,969
• − Insurance: −$550
• − Repairs & maintenance: −$1,945
• − Management: −$1,945
• − HOA: −$8,496
• − Depreciation: −$3,200
• Taxable income: $41
• Est. tax owed @ 24.0%: −$10
• After-tax cash flow: $1,256/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 — Greenacres

• Score: 69/100
• State rank: #490
• US rank: #9008

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• City population: 65,478
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 58,411
• Household income: $95,739
• Rent vs Own: 13.6% rent · 86.4% own
• Severe rent burden: 960.0

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 0.59)
• Race & ethnicity: White 59% Hispanic / Latino 22% Two or more races 13% Black 10% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 4% Dominican 2%
• Common ancestry: Romanian 4% Scotch-Irish 3% Hispanic 3%
• Foreign-born: 24% · Canada, Jamaica, Vietnam
• Languages at home: 71% English-only · Spanish 17% French/Haitian/Cajun 5% Other Indo-European 3%

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: ▼ -288.94%
• Current HPI: 343.7738
• Rent YoY: ▼ -0.40%
• 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

+175.0% since first listed

19 events — show timeline

• 2026-05-15 Price Changed $110,000 Beaches MLS
• 2026-01-07 Relisted — Beaches MLS
• 2026-01-02 Listing Removed — Beaches MLS
• 2025-12-08 Price Changed $100,000 Beaches MLS
• 2025-10-10 Price Changed $130,000 Beaches MLS
• 2025-09-16 Rental Removed $1,750 RMLSFL
• 2025-08-18 Listed for Rent $1,750 RMLSFL
• 2025-07-26 Price Changed $135,000 Beaches MLS
• 2025-07-09 Listed $150,000 Beaches MLS
• 2022-08-22 Sold (Public Records) $128,750 Public Records
• 2022-08-19 Sold (MLS) $128,750 Beaches MLS
• 2022-07-24 Contingent — Beaches MLS
• 2022-07-24 Listed $130,000 Beaches MLS
• 2014-05-29 Listing Removed — Beaches MLS
• 2014-03-15 Listed $48,000 Beaches MLS
• 2012-09-04 Listing Removed — Beaches MLS
• 2012-04-11 Listed $39,000 Beaches MLS
• 2011-04-08 Listing Removed — Beaches MLS
• 2010-07-05 Listed $40,000 Beaches MLS

Property tax history

+7.5%/yr

Latest (2025): $1,969 · -9.9% YoY. Source: county tax records.