8633 Chevy Chase Dr · Boca Raton, FL 33433

$159,900

1 bd · 1.0 ba · 908 sqft · Condo public records · 106 Days on market

Built 1978 $599/mo HOA · 29% of rent

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Why this score? — see what drove the D 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 +9.1/30.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

FULLY FURNISHED AND BEAUTIFULLY MAINTAINED 2-bedroom, 1-bathroom condo/villa located in the & highly desirable Boca Lakes community. Offering over 900 sq ft of modern living space, this home features a BRIGHT WHITE KITCHEN with stylish backsplash, tile flooring, and an upgraded bathroom. Additional highlights include an IN-UNIT WASHER/DRYER, NEWER ROOF (Only 2 years), NEW ELECTRICAL PANEL, NEW A/C UNIT AND AIR HANDLER, and HURRICANE SHUTTERS for added protection. Located in a Gated 55+ community in West Boca Raton with a Very Active Clubhouse, Tennis, Bocce & Pickleball. Live like you are on vacation! Call for a private showing today. Assessments Paid.

Key facts

• New ac unit
• Bright white kitchen
• Newer roof

Tags

• BRIGHT WHITE KITCHEN
• IN UNIT WASHER DRYER
• NEWER ROOF
• NEW ELECTRICAL PANEL
• NEW AC UNIT
• HURRICANE SHUTTERS

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Has association; Monthly HOA fee (approximately $599.96); HOA includes cable TV, pest control, security, trash, common areas, recreation facility; Community amenities: clubhouse, game room, pool, tennis courts, bocce ball, pickleball courts, sidewalks, street lights; Senior community

Exterior

• Parking: Assigned parking; Guest parking
• Security: Gated community with guard
• Utilities: Public water; Public sewer; Three-phase electric; Sewer and water available
• Home design: Condominium; Multi/split levels; Single-story living area; Faces north; Entry-level living area
• Construction: CBS construction; Composition/shingle roof; Built as resale property
• Exterior features: Covered patio; Patio; Paved road frontage; Not waterfront

Interior

• Kitchen: Electric range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Entrance foyer; Closet cabinetry; Partially furnished; Blinds and sliding windows
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $-124 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (13.7% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $138k (13.7% below list) — sets the bar for cash-flow.
• Cap rate 5.4% vs local median 2.8% 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: Del Prado Elementary School (math 78% / reading 78%, grade A, #149 of 2,144 statewide, top 8%, 712 students, 26% FRL); Omni Middle School (math 66% / reading 66%, grade A-, #93 of 571 statewide, top 16%, 1,128 students, 29% FRL); Olympic Heights Community High (math 52% / reading 64%, grade C, #120 of 667 statewide, top 18%, 2,602 students, 30% FRL) — zoned schools average 28% FRL vs 52% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 67% at this address vs 50% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Palm Beach average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 430 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.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $37k; list at $160k implies a 332% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• 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 $138,000 (13.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 1.28% ✓
• Cap rate: 5.36%
• Cash-on-cash: -3.32%
• DSCR: 0.85
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.33% rent growth · sell at horizon

5-year hold

• IRR: -26.6%
• Equity multiple: 0.13×
• Total profit: $-38,748
• Equity at exit: $23,842

10-year hold

• IRR: -49.9%
• Equity multiple: -0.41×
• Total profit: $-63,058
• Equity at exit: $13,825

Cash invested: $44,772 (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 33433

• Rents YoY: 0.3%
• Active inventory: 430
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,050 high
• Mortgage (P&I): −$839
• Tax from tax record: −$240 /mo · $2,875/yr
• Insurance: −$67
• HOA: −$599
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $-124

Break-even live

Break-even rent $2,207

Max offer price $138,000

Occupancy floor —

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8732 Bella Vista Dr #42 Boca Raton, FL	2.0	2.0	908	$1,900	$2.09	24d	1	0.08mi
20867 Wendall Ter Boca Raton, FL	2.0	1.5	908	$1,800	$1.98	24d	1	0.12mi
8540 Chevy Chase Dr Unit 8540 Boca Raton, FL	1.0	1.0	908	$2,000	$2.20	24d	1	0.14mi
8833 Bella Vista Dr #8833 Boca Raton, FL	2.0	2.0	908	$3,250	$3.58	24d	1	0.19mi
20927 Sedgewick Dr Unit 20927 Boca Raton, FL	2.0	1.0	908	$1,950	$2.15	24d	1	0.31mi
20940 Uptown Ave Boca Raton, FL	1.0–4.0	1.0–3.0	1227	$2,650	$2.16	1d	50	1.02mi
117 Brighton Dr Unit 117 Boca Raton, FL	2.0	1.5	840	$2,500	$2.98	24d	1	1.10mi
57 Dorset B Boca Raton, FL	2.0	1.5	840	$1,600	$1.90	24d	1	1.12mi
119 Dorset Dr Unit 119 Boca Raton, FL	1.0	1.0	600	$1,400	$2.33	24d	1	1.13mi
82 Fanshaw Dr Unit 82 Boca Raton, FL	1.0	1.5	702	$1,250	$1.78	24d	1	1.13mi
186 Dorset E Boca Raton, FL	2.0	1.5	835	$1,550	$1.86	24d	1	1.16mi
170 Dorset E Boca Raton, FL	2.0	1.5	835	$1,525	$1.83	24d	1	1.16mi
52 Dorset B Boca Raton, FL	2.0	1.5	840	$1,575	$1.88	19d	1	1.16mi
67 Fanshaw Dr Unit 670 Boca Raton, FL	2.0	1.5	835	$1,750	$2.10	14d	1	1.16mi
32 Fanshaw Dr Unit 32 Boca Raton, FL	2.0	1.5	819	$1,975	$2.41	10d	1	1.19mi
22 Brighton Dr Unit 22 Boca Raton, FL	1.0	1.0	600	$1,300	$2.17	7d	1	1.20mi
33 Fanshaw Dr Unit 33 Boca Raton, FL	2.0	1.5	835	$1,975	$2.37	24d	1	1.21mi
321 Dorset Dr Boca Raton, FL	1.0	1.5	720	$1,590	$2.21	24d	1	1.22mi
365 Brighton I Boca Raton, FL	2.0	1.5	840	$1,999	$2.38	24d	1	1.23mi
129 Brighton D Boca Raton, FL	1.0	1.5	720	$1,300	$1.81	24d	1	1.23mi
84 Brighton B Boca Raton, FL	2.0	1.5	840	$1,600	$1.90	24d	1	1.23mi
365 Brighton I Unit 365 Boca Raton, FL	2.0	1.5	840	$1,899	$2.26	24d	1	1.23mi
359 Brighton I Unit I Boca Raton, FL	1.0	1.5	735	$1,550	$2.11	24d	1	1.23mi
156 Brighton Dr Unit 156 Boca Raton, FL	1.0	1.5	720	$1,350	$1.88	24d	1	1.23mi
251 Brighton Dr Unit 251 Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	7d	1	1.24mi
1015 Cornwall Dr Unit 1015 Boca Raton, FL	2.0	1.5	885	$1,795	$2.03	24d	1	1.24mi
7754 Lakeside Blvd #446 Boca Raton, FL	2.0	2.0	1050	$3,500	$3.33	24d	1	1.24mi
7754 Lakeside Blvd #483 Boca Raton, FL	2.0	2.0	1050	$2,700	$2.57	2d	1	1.24mi
1067 Cornwall D Boca Raton, FL	1.0	1.5	751	$1,600	$2.13	24d	1	1.24mi
8 Fanshaw Dr Unit 8 Boca Raton, FL	1.0	1.0	585	$1,300	$2.22	7d	1	1.25mi
7835 Lakeside Blvd #946 Boca Raton, FL	2.0	2.0	1050	$3,800	$3.62	5d	1	1.26mi
335 Brighton Dr Unit 335 Boca Raton, FL	2.0	1.5	840	$1,990	$2.37	24d	1	1.26mi
4078 Exeter Unit E Boca Raton, FL	2.0	1.5	861	$1,475	$1.71	2d	1	1.27mi
277 Brighton G Boca Raton, FL	2.0	1.5	840	$1,850	$2.20	3d	1	1.27mi
314 Brighton H Unit H Boca Raton, FL	1.0	1.5	720	$1,500	$2.08	13d	1	1.27mi
251 Brighton F Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	24d	1	1.27mi
257 Fanshaw Way Unit 257 Boca Raton, FL	2.0	1.5	819	$1,750	$2.14	24d	1	1.29mi
257 Fanshaw Way Unit 257 Boca Raton, FL	2.0	1.5	819	$1,700	$2.08	3d	1	1.29mi
4008 Cornwall a Boca Raton, FL	1.0	1.5	738	$1,600	$2.17	24d	1	1.30mi
3043 Exeter Boca Raton, FL	2.0	1.5	861	$1,949	$2.26	24d	1	1.32mi

HOA detail condo

• Monthly dues: $599 · $7,188/yr
• Likely covers: electricsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-05-04
   status Pending
2. 2026-04-18
   price $159,900
3. 2026-03-11
   price $169,500
4. 2026-02-21
   price $174,900
5. 2026-01-18
   listed $184,900 Active
6. 2024-12-21
   historical $2,500
7. 2024-11-24
   price $2,500
8. 2024-09-21
   listed $3,300
9. 1997-03-12
   soldstatus $37,000

ⓘ 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: $2,875 · $240/mo
• Projected year-2 tax: $2,875 · $240/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 9/10 Extreme 7 d/yr ≥107°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,605
• − Mortgage interest: −$8,957
• − Property taxes: −$2,875
• − Insurance: −$800
• − Repairs & maintenance: −$1,968
• − Management: −$1,968
• − HOA: −$7,188
• − Depreciation: −$4,652
• Taxable loss: −$3,804
• Est. tax savings @ 24.0%: +$913
• After-tax cash flow: $-575/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

• County: Palm Beach County · 1,438,312 people
• City population: 250,102
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 47,005
• Household income: $84,091
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 2900.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 18% Two or more races 15% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 2% Dominican 1%
• Common ancestry: Romanian 6% Scotch-Irish 5% Russian 3%
• Foreign-born: 27% · Canada, Jamaica, China
• Languages at home: 65% English-only · Spanish 15% Other Indo-European 10% Russian/Polish/Slavic 3%

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: ▼ -227.85%
• Current HPI: 306.738
• Rent YoY: ▲ 0.33%
• 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

+332.2% since first listed

9 events — show timeline

• 2026-05-04 Pending — Beaches MLS
• 2026-04-18 Price Changed $159,900 Beaches MLS
• 2026-03-11 Price Changed $169,500 Beaches MLS
• 2026-02-21 Price Changed $174,900 Beaches MLS
• 2026-01-18 Listed $184,900 Beaches MLS
• 2024-12-21 Rental Removed $2,500 GFLMLS
• 2024-11-24 Price Changed $2,500 GFLMLS
• 2024-09-21 Listed for Rent $3,300 GFLMLS
• 1997-03-12 Sold (Public Records) $37,000 Public Records

Property tax history

+12.7%/yr

Latest (2025): $2,875 · -10.4% YoY. Source: county tax records.