18555 Egret Way · Boca Raton, FL 33496

$360,000

2 bd · 2.0 ba · 1,162 sqft · Condo public records · 15 Days on market

Built 1987 $558/mo HOA · 22% of rent

---

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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.4/30.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +0.7/10.0

Listing remarks MLS

Located in the popular Whisper Walk community, this bright and airy 2-bed/2-bath home offers vaulted ceilings, all-tile floors, and a covered screened patio off the living room. Newer Kitchen with Stainless Steel Appliances and Granite Countertops plus an interior laundry room. The active 55+ gated community features an amazing clubhouse, fitness center, pool, spa, exercise paths, 11 lakes, and lush landscaping. With two private parking spots, a Two-Year-Old Roof, fresh exterior paint, and a price below market value, this is a must-see.

Key facts

• Custom cabinetry
• Tile flooring
• Custom finishes

Tags

• FULLY REMODELED VILLA
• EXPANDED KITCHEN
• WATERFALL COUNTERTOPS
• CUSTOM CABINETRY
• TILE FLOORING
• CUSTOM FINISHES

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association fee covers common areas, cable TV, internet, pool(s), recreation facilities, security, trash and water; Community amenities include pool and tennis courts; Senior community

Exterior

• Parking: Assigned parking; Two or more parking spaces
• Security: Security guard; Security/high-impact doors
• Utilities: Water included in association fee; Trash included in association fee; Cable TV and Internet included in association fee; Electric service (central systems)
• Home design: Single-story property; Resale construction; Attached property; Entry at level 1
• Construction: Block construction
• Exterior features: Security/high-impact doors; Association pool; Tennis courts; Security guard

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Breakfast area
• Bedrooms: Primary bedroom on main level; Additional bedroom(s) on main level
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling (central air)
• Interior features: Impact glass windows; Vaulted ceilings; Entrance foyer; Breakfast area; Living/dining room; Split bedroom floorplan; Walk-in closets; Main-level primary bedroom; Bedroom on main level
• Laundry & utility: Washer; Dryer; Utility room; Storage room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $360k.

Deal economics

• At list price, monthly cash flow is $-625 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $250k (30.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $258k (28.3% below list).
• Recommended offer: $250k (30.7% below list) — sets the bar for cash-flow.
• Cap rate 4.2% 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: schools A+, employment A+, health & safety A+; 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.
• Market conditions: Rents rising (+2.3%/yr); 324 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); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• In year one you build about $38k of equity ($2k loan paydown + $36k appreciation (10.0% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$62k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($355k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y ago 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 $187k; list at $360k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $249,637 (30.7% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.72% ✗
• Cap rate: 4.21%
• Cash-on-cash: -7.44%
• DSCR: 0.67
• GRM: 11.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: 18.9%
• Equity multiple: 2.53×
• Total profit: $154,643
• Equity at exit: $324,317

10-year hold

• IRR: 17.3%
• Equity multiple: 5.80×
• Total profit: $483,470
• Equity at exit: $699,401

Cash invested: $100,800 (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 33496

• Home prices YoY: 3.5%
• Rents YoY: 2.3%
• Active inventory: 324
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,580 high
• Mortgage (P&I): −$1,888
• Tax from tax record: −$67 /mo · $806/yr
• Insurance: −$150
• HOA: −$558
• Vacancy / Maint / Mgmt: −$542
• Net cashflow: $-625

Break-even live

Break-even rent $3,371

Max offer price $249,637

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18595 Egret Way #18595 Boca Raton, FL	2.0	2.0	1000	$2,200	$2.20	24d	1	0.03mi
18765 Candlewick Dr Boca Raton, FL	2.0	2.0	863	$2,300	$2.67	24d	1	0.11mi
18855 Candlewick Dr Boca Raton, FL	2.0	2.0	1022	$2,600	$2.54	24d	1	0.12mi
18890 Candlewick Dr Unit B Boca Raton, FL	2.0	2.0	1044	$2,600	$2.49	24d	1	0.12mi
9708 Erica Ct Boca Raton, FL	2.0	2.0	1410	$4,800	$3.40	24d	1	0.22mi
9104 Affirmed Ln Boca Raton, FL	3.0	2.0	1266	$3,210	$2.54	1d	1	0.29mi
18730 Stewart Cir #5 Boca Raton, FL	2.0	2.0	1227	$2,500	$2.04	24d	1	0.32mi
8664 Jasmine Way Boca Raton, FL	2.0	2.0	1162	$1,795	$1.54	24d	1	0.33mi
8705 Via Giula #4 Boca Raton, FL	3.0	2.0	1477	$3,500	$2.37	24d	1	0.33mi
8705 Via Giula #4 Boca Raton, FL	3.0	2.0	1477	$3,400	$2.30	14d	1	0.33mi
9110 Fairbanks Ln #4 Boca Raton, FL	2.0	2.0	1227	$2,400	$1.96	24d	1	0.40mi
209 Suffolk F Unit F Boca Raton, FL	1.0	1.5	720	$1,400	$1.94	24d	1	0.56mi
68 Suffolk F Unit 68 Boca Raton, FL	1.0	1.5	720	$2,750	$3.82	24d	1	0.56mi
250 Suffolk F #250 Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	2d	1	0.56mi
171 Suffolk F #171 Boca Raton, FL	1.0	1.5	720	$1,500	$2.08	10d	1	0.56mi
9448 Saddlebrook Dr Boca Raton, FL	3.0	2.0	1243	$3,500	$2.82	20d	1	0.57mi
9448 Saddlebrook Dr Unit 9448 Boca Raton, FL	3.0	2.0	1243	$3,500	$2.82	24d	1	0.57mi
4007 Yarmouth a Boca Raton, FL	2.0	2.0	1132	$2,200	$1.94	24d	1	0.61mi
1072 Yarmouth E #1072 Boca Raton, FL	1.0	1.5	738	$1,950	$2.64	24d	1	0.61mi
4067 Yarmouth D Boca Raton, FL	1.0	1.5	738	$1,650	$2.24	3d	1	0.63mi
8146 Windgate Dr Boca Raton, FL	2.0	2.0	1310	$5,000	$3.82	24d	1	0.64mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,300	$1.81	1d	1	0.65mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,350	$1.88	24d	1	0.65mi
74 Preston Way Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	21d	1	0.65mi
204 Preston Way #204 Boca Raton, FL	1.0	1.0	810	$1,500	$1.85	1d	1	0.65mi
74 Preston Way Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	24d	1	0.65mi
3049 Wolverton E Unit 3049 Boca Raton, FL	2.0	2.0	896	$2,200	$2.46	7d	1	0.71mi
4049 Wolverton C Unit C Boca Raton, FL	2.0	2.0	896	$2,500	$2.79	1d	1	0.73mi
84 Mansfield Dr Unit 84 Boca Raton, FL	2.0	1.5	840	$1,583	$1.88	24d	1	0.77mi
392 Mansfield I Unit I Boca Raton, FL	2.0	1.5	840	$1,850	$2.20	24d	1	0.77mi
543 Mansfield M #543 Boca Raton, FL	2.0	1.5	835	$1,890	$2.26	24d	1	0.77mi
9 Mansfield B #9 Boca Raton, FL	1.0	1.5	810	$1,400	$1.73	24d	1	0.77mi
431 Mansfield K Unit K Boca Raton, FL	2.0	1.5	835	$1,600	$1.92	21d	1	0.77mi
588 Mansfield M Unit M Boca Raton, FL	2.0	1.5	835	$1,475	$1.77	24d	1	0.77mi
445 Mansfield M Unit 445 Boca Raton, FL	2.0	1.5	840	$1,700	$2.02	7d	1	0.78mi
351 Mansfield Dr #351 Boca Raton, FL	2.0	1.5	840	$2,300	$2.74	24d	1	0.78mi
162 Preston D Boca Raton, FL	1.0	1.0	810	$1,495	$1.85	24d	1	0.78mi
3049 Wolverton C #3049 Boca Raton, FL	2.0	2.0	896	$2,200	$2.46	7d	1	0.79mi
4030 Rexford A Unit 403 Boca Raton, FL	2.0	2.0	896	$1,850	$2.06	24d	1	0.80mi
4030 Rexford A Unit 403 Boca Raton, FL	2.0	2.0	896	$1,700	$1.90	7d	1	0.80mi

HOA detail condo

• Monthly dues: $558 · $6,696/yr
• Likely covers: landscapingpoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-18
   days on market $360,000 Active 15 DOM
2. 2026-06-17
   days on market $360,000 Active 14 DOM
3. 2026-06-16
   days on market $360,000 Active 13 DOM
4. 2026-06-15
   days on market $360,000 Active 12 DOM
5. 2026-06-13
   pricedays on market $360,000 Active 10 DOM
6. 2026-06-09
   days on market $370,000 Active 6 DOM
7. 2026-06-08
   days on market $370,000 Active 5 DOM
8. 2026-06-07
   days on market $370,000 Active 4 DOM
9. 2026-06-04
   remarks 693-char remark
10. 2026-06-04
    listed $370,000 Active 1 DOM

ⓘ 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: $806 · $67/mo
• Projected year-2 tax: $2,988 · $249/mo
• Expected delta: +$2,182/yr (+$182/mo · 270.5%)

ⓘ 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 · 25 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: $30,962
• − Mortgage interest: −$20,166
• − Property taxes: −$806
• − Insurance: −$1,800
• − Repairs & maintenance: −$2,477
• − Management: −$2,477
• − HOA: −$6,696
• − Depreciation: −$10,473
• Taxable loss: −$13,933
• Est. tax savings @ 24.0%: +$3,344
• After-tax cash flow: $-4,153/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): 26,579
• Household income: $114,885
• Rent vs Own: 16.5% rent · 83.5% own
• Severe rent burden: 464.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Two or more races 8% Asian 5% Black 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Scotch-Irish 13% Romanian 9% Italian 3%
• Foreign-born: 24% · Canada, Jamaica, Dominican Republic
• Languages at home: 75% English-only · Spanish 9% Other Indo-European 5% Russian/Polish/Slavic 4%

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: ▲ 10.48%
• Current HPI: 313.9058
• Rent YoY: ▲ 2.31%
• 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

+413.9% since first listed

10 events — show timeline

• 2026-06-03 Listed $370,000 MARMLS
• 2026-01-12 Sold (Public Records) $187,000 Public Records
• 2026-01-08 Sold (MLS) $187,000 Beaches MLS
• 2025-12-12 Pending — Beaches MLS
• 2025-12-02 Listed $189,900 Beaches MLS
• 1999-03-22 Sold (Public Records) $83,500 Public Records
• 1999-03-18 Sold (MLS) $83,500 Beaches MLS
• 1999-02-10 Listing Removed — Beaches MLS
• 1998-08-18 Listed $85,000 Beaches MLS
• 1996-05-06 Sold (Public Records) $72,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $806 · +2.9% YoY. Source: county tax records.