501 SW 11th #211 · Boca Raton, FL 33432

$275,000

3 bd · 2.0 ba · 1,440 sqft · Condo public records · 48 Days on market

Built 1972 $765/mo HOA · 21% of rent

---

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 +16.1/30.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fantastic opportunity to create your own renovation in 1440 square feet in the Heart of East Boca Raton! The apartment has a direct view of the pool and lush gardens. High ceilings and great floor plan. Within walking distance to Fresh Market, Publix, restaurants, and entertainment spots.

Key facts

• Lush gardens
• $765 HOA
• Parking

Tags

• DIRECT VIEW OF THE POOL
• LUSH GARDENS
• WALKING DISTANCE TO PUBLIX

Property features AI

Finance

• HOA & community: HOA with monthly fee; Monthly association fee of $765; Association covers cable TV, insurance, water, common areas, elevator, roof repairs, and pool service; Community amenities include elevator(s), heated pool, and maintenance; Pets allowed (pet restrictions possible); Community has 72 units

Exterior

• Parking: Assigned parking; Guest parking; Total of 1 parking space
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; One level; Faces south; Resale property
• Construction: CBS construction; Tile roof; Four-story building
• Exterior features: Back yard fencing; Not waterfront

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Three bedrooms on the main level
• Flooring: Carpet; Tile
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central heating; Central individual cooling; Ceiling fan(s)
• Interior features: High ceilings; Walk-in closet(s); Split bedroom layout; Blinds on windows
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $275k.

Deal economics

• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $275k).
• Recommended offer: $267k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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: 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 (+4.6%/yr); 475 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).
• This rent runs 41% of the median local income ($107k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 48 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $150k; list at $275k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: moderate flood risk; 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 $266,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. 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: 1.33% ✓
• Cap rate: 6.91%
• Cash-on-cash: 2.21%
• DSCR: 1.10
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.56% rent growth · sell at horizon

5-year hold

• IRR: -10.1%
• Equity multiple: 0.62×
• Total profit: $-29,108
• Equity at exit: $41,003

10-year hold

• IRR: 2.2%
• Equity multiple: 1.17×
• Total profit: $13,363
• Equity at exit: $23,777

Cash invested: $77,000 (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 33432

• Rents YoY: 4.6%
• Active inventory: 475
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $3,661 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$429 /mo · $5,146/yr
• Insurance: −$115
• HOA: −$765
• Vacancy / Maint / Mgmt: −$769
• Net cashflow: $142

Break-even live

Break-even rent $3,482

Max offer price $275,000

Occupancy floor 91%

Sensitivity live

Price	-10% $298	-5% $220	+0% $142	+5% $64	+10% $-14
Rent	-10% $-147	-5% $-3	+0% $142	+5% $287	+10% $431
Rate	-1.0pp $280	-0.5pp $212	base $142	+0.5pp $71	+1.0pp $-2

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
450 SW 9th St Unit 3 Boca Raton, FL	2.0	2.0	1200	$2,300	$1.92	26d	1	0.10mi
363 W Camino Real #5 Boca Raton, FL	3.0	2.0	1648	$3,350	$2.03	0d	1	0.18mi
363 W Camino Real #5 Boca Raton, FL	3.0	2.0	1648	$3,350	$2.03	1d	1	0.18mi
363 W Camino Real #4 Boca Raton, FL	3.0	3.0	1831	$3,650	$1.99	23d	1	0.18mi
880 Hickory Ter Boca Raton, FL	2.0	2.0	1813	$7,650	$4.22	21d	1	0.32mi
103 W Camino Real Boca Raton, FL	2.0	2.0	1162	$3,925	$3.38	5d	1	0.32mi
100 SW 14th St Boca Raton, FL	1.0–3.0	1.0–2.0	917	$3,545	$3.86	4d	1	0.34mi
100 SW 14th St Boca Raton, FL	3.0	2.0	1250	$3,185	$2.55	13d	1	0.34mi
299 SW 7th St #1040 Boca Raton, FL	2.0	2.0	888	$2,100	$2.36	26d	1	0.35mi
299 SW 7th St #103 Boca Raton, FL	2.0	2.0	888	$1,850	$2.08	26d	1	0.36mi
265 SW 7th St #4 Boca Raton, FL	3.0	2.0	1140	$2,500	$2.19	26d	1	0.37mi
220 SW 7th St #8 Boca Raton, FL	3.0	2.0	1140	$2,600	$2.28	18d	1	0.38mi
55 SE 14th St #1120 Boca Raton, FL	2.0	2.0	1053	$2,400	$2.28	26d	1	0.42mi
55 SE 14th St #1120 Boca Raton, FL	2.0	2.0	1053	$2,375	$2.26	16d	1	0.42mi
1401 S Federal Hwy Boca Raton, FL	2.0	2.5	1248	$2,500	$2.00	17d	2	0.51mi
1401 S Federal Hwy Boca Raton, FL	2.0	2.5	1281	$2,350	$1.83	5d	2	0.51mi
1401 S Federal Hwy Boca Raton, FL	2.0	2.5	1248	$2,500	$2.00	19d	2	0.51mi
200 SW 4th St Boca Raton, FL	3.0	2.0	1541	$3,100	$2.01	26d	1	0.51mi
33 SE 8th St Boca Raton, FL	2.0	1.0–2.0	816	$3,371	$4.13	1d	19	0.52mi
418 SW 7th Ter Boca Raton, FL	3.0	2.0	1605	$5,500	$3.43	26d	1	0.56mi
424 SW 7th Way Boca Raton, FL	3.0	2.0	1479	$6,800	$4.60	16d	1	0.58mi
424 SW 7th Way Unit 424 Boca Raton, FL	3.0	2.0	1479	$7,200	$4.87	17d	1	0.58mi
101 E Camino Real Boca Raton, FL	3.0	1.0–2.5	1077	$7,430	$6.90	0d	8	0.59mi
461 SW 1st St Boca Raton, FL	3.0	2.0	1489	$4,600	$3.09	26d	1	0.60mi
461 SW 1st St Boca Raton, FL	3.0	2.0	1410	$4,600	$3.26	18d	1	0.60mi
924 SW 11th St Boca Raton, FL	3.0	2.0	1488	$5,995	$4.03	26d	1	0.62mi
272 SW 1st St Unit B Boca Raton, FL	2.0	1.0	900	$2,300	$2.56	26d	1	0.63mi
230 SW 1st St Boca Raton, FL	2.0	2.0	1000	$2,850	$2.85	17d	1	0.64mi
320 W Palmetto Park Rd Boca Raton, FL	3.0	1.0–3.0	1213	$4,060	$3.35	0d	24	0.66mi
50 SW 3rd Ave #311 Boca Raton, FL	2.0	2.0	918	$2,500	$2.72	26d	1	0.67mi
50 SW 3rd Ave #2010 Boca Raton, FL	2.0	2.0	918	$1,950	$2.12	24d	1	0.67mi
50 SW 3rd Ave #1060 Boca Raton, FL	2.0	2.0	918	$2,250	$2.45	24d	1	0.67mi
50 SW 3rd Ave #311 Boca Raton, FL	2.0	2.0	918	$2,500	$2.72	13d	1	0.67mi
50 SW 3rd Ave #1060 Boca Raton, FL	2.0	2.0	918	$2,250	$2.45	26d	1	0.67mi
50 SW 3rd Ave #311 Boca Raton, FL	2.0	2.0	918	$2,500	$2.72	1d	1	0.67mi
400 SW 9th Ave Boca Raton, FL	4.0	2.0	1538	$5,500	$3.58	26d	1	0.70mi
400 SW 9th Ave Boca Raton, FL	4.0	2.0	1538	$5,500	$3.58	22d	1	0.70mi
233 S Federal Hwy Boca Raton, FL	2.0–3.0	2.0	1181	$4,200	$3.55	1d	4	0.72mi
233 S Federal Hwy Boca Raton, FL	2.0–3.0	2.0	1222	$4,000	$3.27	24d	2	0.72mi
20 Royal Palm Way Unit 503 Boca Raton, FL	2.0	2.0	1095	$5,500	$5.02	26d	1	0.72mi

HOA detail condo

• Monthly dues: $765 · $9,180/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $275,000 Active 48 DOM
2. 2026-06-18
   days on market $275,000 Active 45 DOM
3. 2026-06-17
   days on market $275,000 Active 44 DOM
4. 2026-06-16
   days on market $275,000 Active 43 DOM
5. 2026-06-15
   days on market $275,000 Active 42 DOM
6. 2026-06-13
   statusdays on market $275,000 Active 40 DOM
7. 2026-06-09
   days on market $275,000 Active Under Contract 36 DOM
8. 2026-06-08
   days on market $275,000 Active Under Contract 35 DOM
9. 2026-06-07
   days on market $275,000 Active Under Contract 34 DOM
10. 2026-06-04
    days on market $275,000 Active Under Contract 31 DOM
11. 2026-06-03
    days on market $275,000 Active Under Contract 30 DOM
12. 2026-06-02
    days on market $275,000 Active Under Contract 29 DOM
13. 2026-06-01
    days on market $275,000 Active Under Contract 28 DOM
14. 2026-05-31
    statusdays on market $275,000 Active Under Contract 27 DOM
15. 2026-05-04
    listed $275,000 Active
16. 2004-02-10
    soldstatus $150,000
17. 1998-08-13
    soldstatus $75,000

ⓘ 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: $5,146 · $429/mo
• Projected year-2 tax: $5,146 · $429/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 5/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°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 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,937
• − Mortgage interest: −$15,404
• − Property taxes: −$5,146
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,515
• − Management: −$3,515
• − HOA: −$9,180
• − Depreciation: −$8,000
• Taxable loss: −$2,199
• Est. tax savings @ 24.0%: +$528
• After-tax cash flow: $2,231/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): 21,834
• Household income: $107,045
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1461.0

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 13% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Cuban 3%
• Common ancestry: Scotch-Irish 4% Subsaharan African 4% Romanian 4%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 77% English-only · Spanish 13% Other Indo-European 3% 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: ▼ -565.03%
• Current HPI: 391.7799
• Rent YoY: ▲ 4.56%
• 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

+266.7% since first listed

3 events — show timeline

• 2026-05-04 Listed $275,000 Beaches MLS
• 2004-02-10 Sold (Public Records) $150,000 Public Records
• 1998-08-13 Sold (Public Records) $75,000 Public Records

Property tax history

+11.1%/yr

Latest (2025): $5,146 · +344.2% YoY. Source: county tax records.