Palm Lake 1 Condo Homes for Sale

Palm Lake 1 Condo is an age-restricted 55+ community in Lake Worth Beach, Palm Beach County, Florida, governed under the Housing for Older Persons Act (HOPA). Homes are priced from $170,000 to $285,000. At least one resident per home must be 55 or older. Pure Equity lists homes in Palm Lake 1 Condo and represents buyers. Commission is negotiable, and what we are paid is agreed with you in writing before you commit to anything.

Pure Equity Realty covers Palm Lake 1 Condo and the Lake Worth Beach area. We list for 1%, which includes photography, MLS syndication, and negotiation support. Buyers pay nothing for representation. For current market data, see Florida Realtors' market statistics.

Our MLS feed shows 5 Palm Lake 1 Condo Lake Worth Beach homes for sale as of October 2026. The median asking price is $190,000. Asking prices run from $170,000 to $279,000.

That is 56% below the Lake Worth Beach median of $435,000. On a per-foot basis, homes here ask about $249 per square foot, compared with $346 across Lake Worth Beach. So the median price buys roughly 750 square feet of living area.

Listings here have averaged 120 days on the market. That tracks the Lake Worth Beach average of 117 days, so pricing and terms follow the wider city market.

Homes listed in Palm Lake 1 Condo date from 1973, so they are about 53 years old.

All of these homes predate Florida's 2002 statewide building code. So roof age, window protection and the wind mitigation report matter a great deal for insurance.

In addition, most Florida insurers ask for a four-point inspection on homes 30 years or older. It covers the roof, electrical, plumbing and HVAC. Updated systems usually make coverage easier to place.

Condo buyers should also know Florida's 2022 condo safety law. It requires milestone structural inspections for buildings three stories or taller as they age. It also requires a structural integrity reserve study. Before you sign, request both reports and the current reserve balance.

Palm Lake 1 Condo includes waterfront homes. Waterfront lots in South Florida often sit in FEMA special flood hazard areas, where lenders require flood insurance. Before you commit, look up the address on the FEMA Flood Map Service Center and ask the seller for an elevation certificate.

Palm Lake 1 Condo is a condo building. Also request the association budget, recent minutes and any special assessments before you sign.

Rentals in Palm Lake 1 Condo have a median asking rent of $1,650 per month, across 5 active rental listings. For comparison, the Lake Worth Beach median is $1,995, so rents here run 17% lower.

For investors, those medians imply a gross yield near 10.4% a year. However, that figure comes before HOA dues, property tax, insurance and vacancy. Also check the association documents first, because many Florida HOAs cap leases or set minimum terms.

You can browse current Lake Worth Beach rentals or ask us for a rent estimate on a specific Palm Lake 1 Condo home.

Here is what the median Palm Lake 1 Condo price means in Florida closing terms. At $190,000, a 20% down payment comes to about $38,000, leaving a loan near $152,000.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $532. Next, the intangible tax of 0.2% adds about $304. Buyers normally pay both at closing.

On the seller side, Florida deed stamps cost 70 cents per $100 of price. At the Palm Lake 1 Condo median, that is about $1,329.

Finally, owner-occupants should file for the Florida homestead exemption by March 1. It removes up to $50,000 of assessed value. After that, Save Our Homes caps yearly assessment increases at 3% or inflation, whichever is lower. To see what these numbers mean for your budget, get pre-approved before you tour.

Recent Palm Lake 1 Condo listings show assignments to Barton (elementary), Lantana Community (middle) and Lake Worth (high). However, boundaries can change each year, so confirm the assignment for a specific address with the School District of Palm Beach County.