13884 89th Pl N, West Palm Beach, FL 33412

Here’s a concise analysis of the property at 13884 89th Pl N, West Palm Beach, FL 33412, focusing on refinancing potential:

Property Snapshot:

• Address: 13884 89th Pl N, West Palm Beach, FL 33412
• Estimated Value: $845,200 (your input), with a slightly higher Zillow estimate around $844,900.
• Size: 3,600 sqft, 5 beds, 4 baths.
• Built: 2000 (relatively newer construction, beneficial for insurance).
• Last Sold: $303,000 in March 2007 (indicates significant appreciation and equity). Earlier sales were much lower.
• HOA: Yes, $40/month.

Key Financials & Considerations for Refinancing:

• Strong Equity: Substantial equity exists due to the significant value increase since the last sale in 2007, making it a good candidate for refinancing or cash-out.
• Property Taxes: Significant and have increased sharply: $9,874/year in 2024 (approx. $823/month).
• Homeowner’s Insurance: For a 2000-built home of this size in WPB, estimates range from $296/month to around $300-$500+ per month, which is more favorable than older homes.
• Refinance Rates: Current Florida 30-year fixed refinance APRs are around 6.82% – 6.96%.
• Monthly Payment Drivers: A large portion of the payment will be property taxes and insurance, in addition to principal and interest.

Market Context (33412 Zip Code):

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

Recommendations:

1. Obtain a Professional Appraisal: Confirm the definitive current market value and verify all property details (beds, baths, sqft).
2. Verify All Monthly Costs: Get precise figures for current property taxes and competitive homeowner’s insurance quotes (the 2000 build year should help).
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/other investments).