400 NE 20th B108 St Unit B108 · Boca Raton, FL 33431

$159,000

1 bd · 1.5 ba · 772 sqft · Condo public records · 280 Days on market

Built 1966 $392/mo HOA · 15% of rent

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Why this score? — see what drove the B 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 +29.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Rent growth +4.2/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into elegance and comfort in this beautifully updated condo with a modern kitchen, located in a vibrant 55+ community with elevators. Walk to grocery stores, restaurants, and enjoy the beach just one mile away. The nearby Brightline train station and public transportation make travel very easy. Community amenities include a clubhouse with library, exercise room, sparkling pool, billards room, sewing room, covered patios and well-maintained Clubhouse for social events. This is a must-see—move in and enjoy the best of the Florida lifestyle! This is a must see, schedule your appointment today.

Key facts

• Exercise room
• Billiards room
• Elevators

Tags

• MODERN KITCHEN
• ELEVATORS
• CLUBHOUSE WITH LIBRARY
• EXERCISE ROOM
• BILLIARDS ROOM
• SEWING ROOM

Property features AI

Finance

• HOA & community: Monthly association fee of $392; HOA covers HVAC maintenance; Association amenities include: billiard room, cabana, clubhouse, elevators, fitness center, game room, pool, shuffleboard court, storage, on-site manager, bike storage, bocce ball, business center, library, street lights; Pets allowed (with possible restrictions and number limits); Senior community

Exterior

• Utilities: Public water; Three-phase electric; Cable available; Water service available
• Home design: Condominium; Single-story; Faces east; Resale property
• Construction: Concrete construction
• Exterior features: Not waterfront

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Bathrooms: 1 full bathroom; 1 half bathroom (2 total bathrooms)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet(s)

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $159k.

Deal economics

• At list price, monthly cash flow is $545 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $159k).
• Recommended offer: $140k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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: Boca Raton Elementary School (math 47% / reading 52%, grade D, #1,088 of 2,144 statewide, top 53%, 365 students, 62% 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 fast (+6.8%/yr); 181 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 280 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $40k; list at $159k implies a 298% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 280 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.59% ✓
• Cap rate: 10.40%
• Cash-on-cash: 14.68%
• DSCR: 1.65
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.83% rent growth · sell at horizon

5-year hold

• IRR: 10.4%
• Equity multiple: 1.43×
• Total profit: $19,327
• Equity at exit: $23,707

10-year hold

• IRR: 23.0%
• Equity multiple: 3.42×
• Total profit: $107,600
• Equity at exit: $13,747

Cash invested: $44,520 (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 33431

• Rents YoY: 6.8%
• Active inventory: 181
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,535 high
• Mortgage (P&I): −$834
• Tax from tax record: −$166 /mo · $1,993/yr
• Insurance: −$66
• HOA: −$392
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $545

Break-even live

Break-even rent $1,846

Max offer price $159,000

Occupancy floor 74%

Sensitivity live

Price	-10% $635	-5% $590	+0% $545	+5% $500	+10% $455
Rent	-10% $344	-5% $444	+0% $545	+5% $645	+10% $745
Rate	-1.0pp $625	-0.5pp $585	base $545	+0.5pp $503	+1.0pp $462

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 NE 20th St #3030 Boca Raton, FL	2.0	2.0	1080	$2,500	$2.31	26d	1	0.19mi
250 NE 20th St #4190 Boca Raton, FL	2.0	2.0	1080	$4,000	$3.70	26d	1	0.19mi
1401 N Federal Hwy Unit 4024370 Boca Raton, FL	1.0	1.5	960	$2,000	$2.08	26d	1	0.19mi
200 NE 20th St Boca Raton, FL	1.0–2.0	1.0	784	$2,020	$2.58	23d	3	0.26mi
2500 N Federal Hwy Boca Raton, FL	1.0	1.0	750	$2,040	$2.72	23d	1	0.56mi
198 NE 28th St Boca Raton, FL	2.0	1.0	840	$2,350	$2.80	18d	1	0.67mi
196 NE 28th St Boca Raton, FL	2.0	2.0	950	$2,600	$2.74	9d	1	0.67mi
196 NE 28th St Boca Raton, FL	2.0	2.0	840	$2,650	$3.15	18d	1	0.67mi
260 NW 19th St #27 Boca Raton, FL	2.0	1.0	750	$2,000	$2.67	7d	1	0.69mi
260 NW 19th St #290 Boca Raton, FL	2.0	1.0	750	$1,875	$2.50	1d	1	0.70mi
1798 NW 15th Vis Unit 5 Boca Raton, FL	2.0	1.0	1000	$2,695	$2.69	26d	1	0.70mi
289 NW 19th St Boca Raton, FL	1.0	1.0	720	$1,745	$2.42	26d	1	0.71mi
1908 NW 4th Ave Boca Raton, FL	1.0–3.0	1.0–2.0	820	$1,695	$2.07	26d	1	0.72mi
340 NW 19th St #2030 Boca Raton, FL	1.0	1.0	552	$1,900	$3.44	19d	1	0.75mi
399 NW 19th St Boca Raton, FL	2.0	2.0	1000	$2,000	$2.00	26d	1	0.76mi
1721 NW 15th Vis Boca Raton, FL	—	1.0	550	$1,695	$3.08	21d	1	0.76mi
1800 NW 4th Ave Boca Raton, FL	2.0	1.5	880	$4,000	$4.55	26d	1	0.78mi
330 NW 20th St Boca Raton, FL	2.0	1.0	800	$2,095	$2.62	9d	1	0.79mi
2121 N Ocean Blvd Unit 1105W Boca Raton, FL	2.0	2.0	1031	$3,750	$3.64	26d	1	0.80mi
2121 N Ocean Blvd Unit 407W Boca Raton, FL	2.0	2.0	1031	$6,000	$5.82	26d	1	0.80mi
2121 N Ocean Blvd Unit 201W Boca Raton, FL	2.0	2.0	1078	$2,600	$2.41	26d	1	0.80mi
2121 N Ocean Blvd Unit 1204E Boca Raton, FL	2.0	2.0	1031	$3,000	$2.91	26d	1	0.80mi
2121 N Ocean Blvd Unit 1507W Boca Raton, FL	2.0	2.0	1031	$5,500	$5.33	9d	1	0.80mi
2121 N Ocean Blvd Unit 1006E Boca Raton, FL	2.0	2.0	1031	$6,500	$6.30	26d	1	0.80mi
2121 N Ocean Blvd Unit 1103W Boca Raton, FL	1.0	1.5	734	$3,500	$4.77	26d	1	0.80mi
2121 N Ocean Blvd Unit 805W Boca Raton, FL	2.0	2.0	1031	$3,500	$3.39	9d	1	0.80mi
2650 Greenwood Ter #2160 Boca Raton, FL	2.0	2.0	938	$2,600	$2.77	18d	1	0.81mi
2650 Greenwood Ter Boca Raton, FL	2.0	2.0	938	$2,500	$2.67	7d	1	0.81mi
950 Lake Wyman Rd Unit A Boca Raton, FL	—	1.0	600	$1,900	$3.17	26d	1	0.82mi
401 NE Mizner Blvd Boca Raton, FL	1.0–3.0	1.0–3.0	1109	$2,468	$2.23	0d	25	0.84mi
1500 NW 4th Ave Apt 306 Boca Raton, FL	2.0	2.0	875	$2,150	$2.46	26d	1	0.84mi
2800 Palmwood Ter #2210 Boca Raton, FL	2.0	2.0	938	$2,800	$2.99	16d	1	0.85mi
315 Palmwood Pl #2170 Boca Raton, FL	2.0	2.0	938	$2,500	$2.67	1d	1	0.85mi
2330 N Ocean Blvd Boca Raton, FL	2.0	1.0	999	$8,000	$8.01	26d	1	0.86mi
2850 Palmwood Ter #2300 Boca Raton, FL	2.0	2.0	938	$2,500	$2.67	22d	1	0.86mi
470 NW 20th St #3020 Boca Raton, FL	2.0	2.0	936	$2,400	$2.56	9d	1	0.87mi
480 NW 20th St Boca Raton, FL	2.0	2.0	936	$2,200	$2.35	3d	2	0.87mi
2519 N Ocean Blvd Boca Raton, FL	1.0–3.0	1.0–2.0	1137	$2,345	$2.06	4d	28	0.88mi
460 NW 20th St #1100 Boca Raton, FL	2.0	2.0	936	$2,300	$2.46	26d	1	0.89mi
2900 Olivewood Ter #201 Boca Raton, FL	2.0	2.0	938	$2,750	$2.93	4d	1	0.90mi

HOA detail condo

• Monthly dues: $392 · $4,704/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   statusdays on market $159,000 Active Under Contract 280 DOM
2. 2026-06-18
   days on market $159,000 Active 277 DOM
3. 2026-06-17
   days on market $159,000 Active 276 DOM
4. 2026-06-16
   days on market $159,000 Active 275 DOM
5. 2026-06-15
   days on market $159,000 Active 274 DOM
6. 2026-06-13
   days on market $159,000 Active 272 DOM
7. 2026-06-09
   days on market $159,000 Active 268 DOM
8. 2026-06-07
   days on market $159,000 Active 266 DOM
9. 2026-06-04
   days on market $159,000 Active 263 DOM
10. 2026-06-03
    days on market $159,000 Active 262 DOM
11. 2026-06-01
    days on market $159,000 Active 260 DOM
12. 2026-05-31
    days on market $159,000 Active 259 DOM
13. 2026-04-13
    status Active
14. 2026-04-13
    historical
15. 2026-03-08
    status Active
16. 2026-03-07
    historical
17. 2025-09-12
    listed $159,000 Active
18. 1996-07-09
    soldstatus $40,000

ⓘ 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: $1,993 · $166/mo
• Projected year-2 tax: $1,993 · $166/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 10/10 Extreme 7 d/yr ≥106°F today · 27 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: $30,422
• − Mortgage interest: −$8,906
• − Property taxes: −$1,993
• − Insurance: −$795
• − Repairs & maintenance: −$2,434
• − Management: −$2,434
• − HOA: −$4,704
• − Depreciation: −$4,625
• Taxable income: $4,531
• Est. tax owed @ 24.0%: −$1,087
• After-tax cash flow: $5,448/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): 24,608
• Household income: $107,896
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 872.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 63% Hispanic / Latino 15% Black 14% Two or more races 10% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1% Cuban 3%
• Common ancestry: Hispanic 9% Scotch-Irish 5% Romanian 5%
• Foreign-born: 15% · Canada, Jamaica, Vietnam
• Languages at home: 77% English-only · Spanish 11% Other Indo-European 5% French/Haitian/Cajun 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: ▼ -425.66%
• Current HPI: 342.0339
• Rent YoY: ▲ 6.83%
• 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

+297.5% since first listed

6 events — show timeline

• 2026-04-13 Relisted — Beaches MLS
• 2026-04-13 Listing Removed — Beaches MLS
• 2026-03-08 Relisted — Beaches MLS
• 2026-03-07 Listing Removed — Beaches MLS
• 2025-09-12 Listed $159,000 Beaches MLS
• 1996-07-09 Sold (Public Records) $40,000 Public Records

Property tax history

+12.2%/yr

Latest (2025): $1,993 · +3.4% YoY. Source: county tax records.