1400 NW 9th Ave Unit E-33 · Boca Raton, FL 33486

$395,000

3 bd · 2.0 ba · 1,750 sqft · Condo public records · 109 Days on market

Built 1980 $933/mo HOA · 19% 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 +20.8/30.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• DSCR +6.6/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

ocated in the heart of East Boca Raton, this 3-bedroom, 2-bath townhouse offers an unbeatable location just minutes from Florida Atlantic University, Boca Regional Hospital, downtown Boca, Mizner Park, and the area's beautiful beaches. The flexible floor plan features two spacious bedrooms on the first floor and a versatile loft-style third bedroom upstairs that can serve as a home office, guest suite, or additional living space. Bright living areas flow to a large enclosed back patio, perfect for relaxing or entertaining. A newer roof completed in 2025 adds peace of mind. Ideal for a primary residence, seasonal getaway, or investment opportunity in one of Boca Raton's most convenient locat

Key facts

• Flexible floor plan
• $933 HOA
• Community pool

Tags

• MINUTES FROM DOWNTOWN BOCA
• MINUTES FROM MIZNER PARK
• MINUTES FROM BEAUTIFUL BEACHES
• FLEXIBLE FLOOR PLAN
• LARGE ENCLOSED BACK PATIO
• NEWER ROOF COMPLETED IN 2025

Property features AI

Finance

• Financial info: Pets allowed with breed restrictions
• HOA & community: Has association; Monthly HOA fee ($933) covering grounds maintenance, pest control, and common areas; Association amenities include parking and a pool

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Water available; Sewer available
• Home design: Townhouse; 2-story; Resale property; Faces west; Public road frontage, west of US-1
• Construction: CBS construction; Built with a public-records listed living area of 1,750
• Exterior features: Open patio and open porch; Patio; Porch; Fenced yard; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms (1 on the main level)
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Entrance foyer; High ceilings; Bedroom layout - stacked; Upstairs living area
• Laundry & utility: Laundry closet inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $395k.

Deal economics

• At list price, monthly cash flow is $542 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $395k).
• Recommended offer: $359k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.7% in Boca Raton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#192 in FL, #3,070 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, health & safety A+, crime B+; Watch: amenities D, cost of living 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: J. C. Mitchell Elementary School (math 54% / reading 60%, grade C+, #781 of 2,144 statewide, top 38%, 773 students, 50% FRL); Boca Raton Community Middle School (math 59% / reading 61%, grade B, #135 of 571 statewide, top 24%, 1,225 students, 41% FRL); West Boca Raton High School (math 55% / reading 70%, grade B-, #93 of 667 statewide, top 14%, 2,271 students, 28% FRL).
• Market conditions: Rents rising (+1.2%/yr); 133 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• At $4,892/mo this rent would consume 56% of the median local household income ($106k/yr) (locally 810% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 109 days — a 9% lower offer ($359k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $30k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $105k; list at $395k implies a 276% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $359,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.24% ✓
• Cap rate: 7.94%
• Cash-on-cash: 5.88%
• DSCR: 1.26
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.23% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.66×
• Total profit: $-37,626
• Equity at exit: $58,896

10-year hold

• IRR: -3.0%
• Equity multiple: 0.82×
• Total profit: $-20,457
• Equity at exit: $34,152

Cash invested: $110,600 (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 33486

• Rents YoY: 1.2%
• Active inventory: 133
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $4,892 high
• Mortgage (P&I): −$2,071
• Tax from tax record: −$154 /mo · $1,848/yr
• Insurance: −$165
• HOA: −$933
• Vacancy / Maint / Mgmt: −$1,027
• Net cashflow: $542

Break-even live

Break-even rent $4,206

Max offer price $395,000

Occupancy floor 84%

Sensitivity live

Price	-10% $765	-5% $654	+0% $542	+5% $430	+10% $318
Rent	-10% $155	-5% $349	+0% $542	+5% $735	+10% $928
Rate	-1.0pp $741	-0.5pp $642	base $542	+0.5pp $439	+1.0pp $335

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1169 NW 13th St #1 Boca Raton, FL	3.0	2.0	1268	$3,000	$2.37	9d	1	0.31mi
1051 NW 9th St Boca Raton, FL	3.0	3.0	1833	$5,400	$2.95	9d	1	0.37mi
626 NW 13th St #310 Boca Raton, FL	3.0	2.0	1301	$2,895	$2.23	25d	1	0.37mi
602 NW 13th St Unit Oaks 626-31 Boca Raton, FL	3.0	2.0	1286	$2,895	$2.25	6d	1	0.39mi
606 NW 13th St #23 Boca Raton, FL	3.0	2.0	1286	$2,500	$1.94	25d	1	0.39mi
610 NW 13th St #0023 Boca Raton, FL	3.0	2.0	1286	$2,750	$2.14	25d	1	0.39mi
1440 NW 12th Way Boca Raton, FL	4.0	2.0	1956	$8,000	$4.09	23d	1	0.40mi
642 NW 13th St #310 Boca Raton, FL	3.0	2.0	1286	$2,575	$2.00	25d	1	0.41mi
870 NW 7th St Boca Raton, FL	3.0	2.0	2232	$8,500	$3.81	13d	1	0.42mi
1225 NW 15th St Boca Raton, FL	3.0	2.0	1892	$8,700	$4.60	25d	1	0.45mi
1035 NW 5th Ave Boca Raton, FL	4.0	2.0	2100	$8,500	$4.05	3d	1	0.51mi
1035 NW 5th Ave Boca Raton, FL	4.0	2.0	2098	$8,500	$4.05	25d	1	0.51mi
1260 NW 8th St Boca Raton, FL	4.0	2.0	1976	$5,500	$2.78	25d	1	0.58mi
708 NW 6th Dr Boca Raton, FL	4.0	2.0	1863	$8,500	$4.56	6d	1	0.58mi
1001 NW 4th Ct Boca Raton, FL	3.0	2.0	1710	$12,000	$7.02	25d	1	0.59mi
600 NW 12th Ave Boca Raton, FL	4.0	3.0	1532	$5,500	$3.59	25d	1	0.59mi
1382 NW 13th Ct Boca Raton, FL	4.0	3.0	2260	$5,400	$2.39	0d	1	0.67mi
1257 NW 5th St Boca Raton, FL	3.0	2.0	1650	$6,000	$3.64	25d	1	0.70mi
1720 NW 4th Ave Boca Raton, FL	2.0	2.5	1335	$2,795	$2.09	25d	1	0.71mi
1845 NW 4th Ave #17 Boca Raton, FL	3.0	3.0	1428	$3,500	$2.45	25d	1	0.72mi
1679 NW 15th Vis Boca Raton, FL	3.0	2.5	1533	$3,395	$2.21	13d	1	0.72mi
1314 NW 2nd Cir Boca Raton, FL	3.0	2.0	1382	$3,500	$2.53	18d	1	0.72mi
1501 NW 13th St #15 Boca Raton, FL	2.0	2.0	1335	$2,400	$1.80	25d	1	0.74mi
1999 NW 4th Ave Unit C Boca Raton, FL	2.0	2.0	1250	$2,600	$2.08	25d	1	0.76mi
1783 NW 15th Vis Boca Raton, FL	2.0	1.0	2095	$2,195	$1.05	25d	1	0.76mi
400 NW 6th Ave Boca Raton, FL	4.0	3.0	2357	$8,000	$3.39	25d	1	0.77mi
1540 NW 10th St Boca Raton, FL	3.0	2.0	1518	$5,800	$3.82	5d	1	0.82mi
1049 W Palmetto Park Rd Boca Raton, FL	3.0	2.0	1980	$9,900	$5.00	25d	1	0.83mi
1390 NW 4th St Boca Raton, FL	4.0	2.0	1728	$5,950	$3.44	0d	1	0.92mi
556 NW 15th Ct Boca Raton, FL	4.0	2.0	1900	$4,950	$2.61	25d	1	0.92mi
249 NW 4th Diagonal Boca Raton, FL	3.0	2.0	1490	$3,500	$2.35	25d	1	0.95mi
46 SW 9th Ave Boca Raton, FL	3.0	3.5	2046	$6,900	$3.37	25d	1	0.95mi
301 NW 3rd Ct Boca Raton, FL	3.0	3.0	1923	$5,999	$3.12	25d	1	0.97mi
96 Del Rio Blvd Boca Raton, FL	4.0	3.0	1940	$4,800	$2.47	25d	1	1.07mi
1124 NW 18th Ave Boca Raton, FL	3.0	3.0	2060	$3,876	$1.88	25d	1	1.08mi
301 SW 8th Ter Boca Raton, FL	3.0	2.0	1440	$5,650	$3.92	0d	1	1.10mi
301 SW 8th Ter Boca Raton, FL	3.0	2.0	1550	$4,950	$3.19	25d	1	1.10mi
1873 NW 12th St Boca Raton, FL	3.0	2.5	1985	$5,500	$2.77	5d	1	1.10mi
1873 NW 12th St Boca Raton, FL	3.0	2.5	1985	$5,500	$2.77	18d	1	1.10mi
461 SW 1st St Boca Raton, FL	3.0	2.0	1410	$4,600	$3.26	17d	1	1.12mi

HOA detail condo

• Monthly dues: $933 · $11,196/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-21
   statusdays on market $395,000 Active Under Contract 109 DOM
2. 2026-06-18
   days on market $395,000 Active 106 DOM
3. 2026-06-17
   days on market $395,000 Active 105 DOM
4. 2026-06-16
   days on market $395,000 Active 104 DOM
5. 2026-06-15
   days on market $395,000 Active 103 DOM
6. 2026-06-13
   days on market $395,000 Active 101 DOM
7. 2026-06-09
   days on market $395,000 Active 97 DOM
8. 2026-06-08
   days on market $395,000 Active 96 DOM
9. 2026-06-07
   days on market $395,000 Active 95 DOM
10. 2026-06-04
    days on market $395,000 Active 92 DOM
11. 2026-06-03
    days on market $395,000 Active 91 DOM
12. 2026-06-02
    days on market $395,000 Active 90 DOM
13. 2026-06-01
    days on market $395,000 Active 89 DOM
14. 2026-05-31
    days on market $395,000 Active 88 DOM
15. 2026-05-08
    price $395,000
16. 2026-03-04
    listed $425,000 Active
17. 2026-02-12
    historical
18. 2025-09-16
    price $430,000
19. 2025-08-15
    listed $450,000 Active
20. 2025-08-14
    historical
21. 2025-05-05
    price $499,000
22. 2025-03-23
    price $515,000
23. 2025-02-13
    listed $534,500 Active
24. 2005-10-12
    historical
25. 2005-10-11
    listed $349,900
26. 1998-12-01
    soldstatus $105,000

ⓘ 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: $1,848 · $154/mo
• Projected year-2 tax: $3,278 · $273/mo
• Expected delta: +$1,430/yr (+$119/mo · 77.4%)

ⓘ 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 9/10 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $58,705
• − Mortgage interest: −$22,126
• − Property taxes: −$1,848
• − Insurance: −$1,975
• − Repairs & maintenance: −$4,696
• − Management: −$4,696
• − HOA: −$11,196
• − Depreciation: −$11,491
• Taxable income: $676
• Est. tax owed @ 24.0%: −$162
• After-tax cash flow: $6,339/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 — Boca Raton

• Score: 77/100
• State rank: #192
• US rank: #3070

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boca Raton, FL
• County: Palm Beach County · 1,438,312 people
• City population: 250,102
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 23,232
• Household income: $105,540
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 810.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 18% Two or more races 10% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 4%
• Common ancestry: Romanian 4% Lithuanian 3% Portuguese 2%
• Foreign-born: 22% · Canada, Jamaica, Guatemala
• Languages at home: 72% English-only · Spanish 14% Other Indo-European 4% Other Asian/Pacific 2%

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: ▼ -507.64%
• Current HPI: 393.1859
• Rent YoY: ▲ 1.23%
• 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

+276.2% since first listed

12 events — show timeline

• 2026-05-08 Price Changed $395,000 Beaches MLS
• 2026-03-04 Listed $425,000 Beaches MLS
• 2026-02-12 Listing Removed — Beaches MLS
• 2025-09-16 Price Changed $430,000 Beaches MLS
• 2025-08-15 Listed $450,000 Beaches MLS
• 2025-08-14 Listing Removed — Beaches MLS
• 2025-05-05 Price Changed $499,000 Beaches MLS
• 2025-03-23 Price Changed $515,000 Beaches MLS
• 2025-02-13 Listed $534,500 Beaches MLS
• 2005-10-12 Listing Removed — Beaches MLS
• 2005-10-11 Listed $349,900 Beaches MLS
• 1998-12-01 Sold (Public Records) $105,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $1,848 · +3.5% YoY. Source: county tax records.