The $125,000 is not legitimate either - that is likely a short sale with an agent who is fishing rather than offering a real price. Either that or it is a foreclosure in major distress that needs construction...more likely to be a short sale.
I live behind Lantern Key in Willoughby Farms. This is a nice area to live in...you should also check out the townhouses here in Willoughby. There are some great deals.
http://www.bocaexecutiverealty.com/real_estate/Lake_Worth/Wi for Willoughby Farms
http://www.bocaexecutiverealty.com/real_estate/Lake_Worth/La Lantern Key listings... I don't see the one you mentioned at $125K...
If you'd like to see the inside of those units - and some comparable ones in the area, feel free to call!
Boca Executive Realty