13760 Citrus Grove Blvd, West Palm Beach, FL 33412

Here’s a concise analysis of the property at 13760 Citrus Grove Blvd, West Palm Beach, FL 33412, and its refinancing potential:

Property Snapshot:

• Address: 13760 Citrus Grove Blvd, West Palm Beach, FL 33412
• Estimated Value: $700,000 (your input). Redfin estimates around $646,508. Zillow’s estimate for a slightly different property on the same street is $494,023. There’s a notable range, an appraisal is key.
• Size: 1,950 sqft, 3 beds, 2 baths. Some records indicate 1,604 sqft or 2,269 sqft. Verify actual heated living area.
• Built: 1995 (newer construction than older homes in WPB, which helps with insurance).
• Last Sold: $347,000 in May 2016 (indicates significant appreciation and equity).
• Lot Size: Large, around 1.37 acres.

Key Financials & Considerations for Refinancing:

• Strong Equity: Significant equity has been built since the last sale, making it a good candidate for refinancing.
• Property Taxes: Around $5,404/year in 2024 (approx. $450/month).
• Homeowner’s Insurance: For a 1995-built home of this size in WPB, typical annual premiums can be substantial, averaging around $5,490 annually ($457/month) for dwelling coverage in the $600K-$699K range. This is a significant monthly cost.
• No HOA Fees: A positive.
• Refinance Rates: Current Florida 30-year fixed refinance APRs are around 6.817% – 6.96%.

Market Context (33412 Zip Code):

• Buyer’s Market: The 33412 zip code is “not very competitive,” with homes typically selling below list price and taking longer to sell (around 95 days).
• High Value Area: The median sale price in 33412 is high ($850,000 in June 2025), reflecting the presence of many larger, newer homes.

Recommendations:

1. Obtain a Professional Appraisal: This is crucial to get a definitive current market value, as estimates vary, and to confirm exact property details (size, bed/bath count).
2. Verify All Monthly Costs: Get precise figures for current property taxes and competitive homeowner’s insurance quotes.
3. Confirm Current Loan Balance: Understand your exact outstanding mortgage and available equity.
4. Shop Lenders: Compare refinance rates, APRs, and closing costs from multiple lenders.
5. Define Goals: Be clear about your refinancing objective (e.g., lower monthly payment, cash-out for renovations, especially for a large lot).