37045 Exuma Bay · Boynton Beach, FL 33436

$202,000

2 bd · 2.0 ba · 1,152 sqft · Condo public records · 284 Days on market

Built 1972 $270/mo HOA · 11% 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 +23.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +7.2/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move right in ! Come on over to desirable Jamaica Bay. This very well maintained 2 bedroom, 2 bath home, boasts a brand new roof and A/C , both done in 2022. Plenty of closet and storage space. The furniture is included as well. The screen porch has been closed in with tinted glass and shades with air conditioner . It adds considerable size to the home. There is also a screened in area off of carport for outdoor relaxing. The home is on a corner lot in a quiet area. Its rare to find a single home in Boynton Beach at this price and with a very low HOA! This one wont last. Come see all that this home and the community have to offer. Community has 2 pools one which is heated in winter months, shuffleboard, bocce ball, bingo, billiards, horseshoes, Seller is Motivated!

Key facts

• Large living area
• Clubhouse
• Community amenities

Tags

• TURNKEY MOBILE HOME
• REMODELED KITCHEN
• LARGE LIVING AREA
• GORGEOUS FLORIDA ROOM
• COMMUNITY AMENITIES
• CLUBHOUSE

Property features AI

Finance

• HOA & community: Community association with monthly fee; Monthly association fee: $270; Community amenities include clubhouse and shuffleboard court; Senior community; Pets allowed (restrictions/limits may apply)

Exterior

• Parking: Carport (covered), 1 space
• Utilities: Public water; Public sewer; Cable available; Water available; Sewer available
• Home design: Mobile home; Single-story; Faces west; Resale condition
• Construction: Modular construction
• Exterior features: Not waterfront

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; Kitchen island; Furnished

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $202k.

Deal economics

• At list price, monthly cash flow is $365 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $202k).
• Recommended offer: $178k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.3% in Boynton Beach — 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 72/100 on livability (#351 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+, cost of living B; Watch: amenities D+, crime D-, commute 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: Hidden Oaks K-8 (math 42% / reading 53%, grade D, #1,182 of 2,144 statewide, top 55%, 785 students, 54% FRL); Congress Community Middle School (math 21% / reading 28%, grade F, #522 of 571 statewide, top 93%, 988 students, 72% FRL); Boynton Beach Community High (math 13% / reading 25%, grade F, #565 of 667 statewide, top 85%, 1,547 students, 65% FRL).
• Zoned-school proficiency averages 30% at this address vs 50% district-wide (-19 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.6%/yr); 445 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 39% of the median local income ($76k/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 $1k of loan paydown is wiped out by about $6k 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 284 days — a 12% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y 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 $155k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 284 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 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. 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.22% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.75%
• DSCR: 1.34
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.71×
• Total profit: $-16,529
• Equity at exit: $30,119

10-year hold

• IRR: -3.6%
• Equity multiple: 0.79×
• Total profit: $-11,684
• Equity at exit: $17,465

Cash invested: $56,560 (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 33436

• Home prices YoY: -26.0%
• Rents YoY: -0.6%
• Active inventory: 445
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,459 high
• Mortgage (P&I): −$1,059
• Tax from tax record: −$164 /mo · $1,965/yr
• Insurance: −$84
• HOA: −$270
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $365

Break-even live

Break-even rent $1,997

Max offer price $202,000

Occupancy floor 80%

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: $50,500
• Closing costs: $6,060
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4482 King Theodore Dr Boynton Beach, FL	1.0	1.0	800	$1,795	$2.24	24d	1	0.40mi
9498 S Military Trl #5 Boynton Beach, FL	3.0	2.5	1317	$2,900	$2.20	24d	1	0.56mi
8949 Oak St Boynton Beach, FL	2.0	2.0	1040	$1,300	$1.25	24d	1	0.58mi
5155 Europa Dr Unit J Boynton Beach, FL	3.0	2.0	1333	$2,750	$2.06	24d	1	0.78mi
5373 Mirror Lakes Blvd Boynton Beach, FL	3.0	2.0	1310	$2,100	$1.60	24d	1	0.81mi
5157 Floria Way Unit J Boynton Beach, FL	3.0	2.0	1447	$3,300	$2.28	24d	1	0.91mi
5537 Pebble Brook Ln Boynton Beach, FL	3.0	2.0	1166	$2,825	$2.42	14d	1	0.93mi
9900 Pineapple Tree Dr #106 Boynton Beach, FL	2.0	2.0	1008	$2,250	$2.23	24d	1	0.93mi
9935 Pineapple Tree Dr #202 Boynton Beach, FL	2.0	2.0	1008	$2,575	$2.55	14d	1	0.96mi
5133 Brisata Cir Unit P Boynton Beach, FL	3.0	2.0	1374	$2,800	$2.04	24d	1	0.98mi
5275 Europa Dr Unit I Boynton Beach, FL	3.0	2.0	1282	$2,500	$1.95	1d	1	1.00mi
9940 Bauhinia Tree Way Unit B Boynton Beach, FL	1.0	1.0	1200	$2,000	$1.67	24d	1	1.01mi
9940 Bauhinia Tree Way Unit B Boynton Beach, FL	1.0	1.0	1200	$1,800	$1.50	7d	1	1.01mi
3736 Coelebs Ave Boynton Beach, FL	3.0	2.0	1232	$3,000	$2.44	24d	1	1.04mi
4525 Nutmeg Tree Ln Unit A Boynton Beach, FL	2.0	2.0	1404	$3,000	$2.14	24d	1	1.05mi
5418 Firenze Dr Unit P Boynton Beach, FL	2.0	2.0	1139	$2,400	$2.11	2d	1	1.06mi
5072 Arbor Glen Cir Lake Worth, FL	3.0	2.0	1232	$3,300	$2.68	14d	1	1.07mi
3930 Max Pl Boynton Beach, FL	1.0	1.0	925	$2,550	$2.76	21d	1	1.12mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,267	$1.89	21d	1	1.16mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,315	$1.93	3d	1	1.16mi
3500 Sandpiper Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	1147	$2,579	$2.25	21d	22	1.19mi
920 Sun Acres Ln Boynton Beach, FL	2.0	2.0	1352	$2,200	$1.63	24d	1	1.25mi
3561 Oberon Ave Boynton Beach, FL	3.0	2.0	1248	$2,850	$2.28	20d	1	1.33mi
9746 Nickels Blvd Boynton Beach, FL	2.0	2.0	1215	$2,800	$2.30	24d	1	1.37mi
4220 Grove Park Ln Unit 1 Boynton Beach, FL	3.0	2.0	1406	$3,600	$2.56	24d	1	1.37mi
4220 Grove Park Ln Unit 1 Boynton Beach, FL	3.0	2.0	1406	$3,400	$2.42	4d	1	1.37mi
7705 Forest Green Ln Boynton Beach, FL	3.0	2.0	1379	$3,200	$2.32	24d	1	1.38mi
7705 Forest Green Ln Boynton Beach, FL	2.0	2.0	1379	$3,200	$2.32	17d	1	1.38mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,375	$2.33	1d	19	1.41mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$2,950	$2.35	1d	1	1.44mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$3,000	$2.39	24d	1	1.44mi
10187 Mangrove Dr #104 Boynton Beach, FL	2.0	2.0	1260	$2,350	$1.87	24d	1	1.45mi
4944 Equestrian Cir Unit A Boynton Beach, FL	2.0	2.0	1400	$2,500	$1.79	7d	1	1.47mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,346	$2.34	13d	1	1.47mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,394	$2.39	2d	1	1.47mi
5020 Ashley Lake Dr Boynton Beach, FL	1.0	1.0	784	$2,074	$2.65	24d	1	1.47mi
5217 Cedar Lake Rd Boynton Beach, FL	1.0–3.0	1.0–2.0	1030	$2,266	$2.20	1d	51	1.49mi

HOA detail condo

• Monthly dues: $270 · $3,240/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $202,000 Active 284 DOM
2. 2026-06-17
   days on market $202,000 Active 283 DOM
3. 2026-06-16
   days on market $202,000 Active 282 DOM
4. 2026-06-15
   days on market $202,000 Active 281 DOM
5. 2026-06-13
   days on market $202,000 Active 279 DOM
6. 2026-06-09
   days on market $202,000 Active 275 DOM
7. 2026-06-07
   days on market $202,000 Active 273 DOM
8. 2026-06-04
   days on market $202,000 Active 270 DOM
9. 2026-06-03
   days on market $202,000 Active 269 DOM
10. 2026-06-01
    days on market $202,000 Active 267 DOM
11. 2026-05-31
    days on market $202,000 Active 266 DOM
12. 2026-03-03
    price $202,000
13. 2025-09-07
    listed $209,000 Active
14. 2025-08-25
    historical
15. 2025-02-26
    listed $209,000 Active
16. 2022-12-21
    soldstatus $155,000 Closed 775-char remark

    Show marketing remark (775 chars)

    Move right in ! Come on over to desirable Jamaica Bay. This very well maintained 2 bedroom, 2 bath home, boasts a brand new roof and A/C , both done in 2022. Plenty of closet and storage space. The furniture is included as well. The screen porch has been closed in with tinted glass and shades with air conditioner . It adds considerable size to the home. There is also a screened in area off of carport for outdoor relaxing. The home is on a corner lot in a quiet area. Its rare to find a single home in Boynton Beach at this price and with a very low HOA! This one wont last. Come see all that this home and the community have to offer. Community has 2 pools one which is heated in winter months, shuffleboard, bocce ball, bingo, billiards, horseshoes, Seller is Motivated!

17. 2022-11-21
    status Pending 775-char remark

    Show marketing remark (775 chars)

    Move right in ! Come on over to desirable Jamaica Bay. This very well maintained 2 bedroom, 2 bath home, boasts a brand new roof and A/C , both done in 2022. Plenty of closet and storage space. The furniture is included as well. The screen porch has been closed in with tinted glass and shades with air conditioner . It adds considerable size to the home. There is also a screened in area off of carport for outdoor relaxing. The home is on a corner lot in a quiet area. Its rare to find a single home in Boynton Beach at this price and with a very low HOA! This one wont last. Come see all that this home and the community have to offer. Community has 2 pools one which is heated in winter months, shuffleboard, bocce ball, bingo, billiards, horseshoes, Seller is Motivated!

18. 2022-11-02
    price $159,000 775-char remark

    Show marketing remark (775 chars)

    Move right in ! Come on over to desirable Jamaica Bay. This very well maintained 2 bedroom, 2 bath home, boasts a brand new roof and A/C , both done in 2022. Plenty of closet and storage space. The furniture is included as well. The screen porch has been closed in with tinted glass and shades with air conditioner . It adds considerable size to the home. There is also a screened in area off of carport for outdoor relaxing. The home is on a corner lot in a quiet area. Its rare to find a single home in Boynton Beach at this price and with a very low HOA! This one wont last. Come see all that this home and the community have to offer. Community has 2 pools one which is heated in winter months, shuffleboard, bocce ball, bingo, billiards, horseshoes, Seller is Motivated!

19. 2022-10-29
    price $164,900 775-char remark

    Show marketing remark (775 chars)

    Move right in ! Come on over to desirable Jamaica Bay. This very well maintained 2 bedroom, 2 bath home, boasts a brand new roof and A/C , both done in 2022. Plenty of closet and storage space. The furniture is included as well. The screen porch has been closed in with tinted glass and shades with air conditioner . It adds considerable size to the home. There is also a screened in area off of carport for outdoor relaxing. The home is on a corner lot in a quiet area. Its rare to find a single home in Boynton Beach at this price and with a very low HOA! This one wont last. Come see all that this home and the community have to offer. Community has 2 pools one which is heated in winter months, shuffleboard, bocce ball, bingo, billiards, horseshoes, Seller is Motivated!

20. 2022-10-14
    listed $169,900 Active 775-char remark

    Show marketing remark (775 chars)

    Move right in ! Come on over to desirable Jamaica Bay. This very well maintained 2 bedroom, 2 bath home, boasts a brand new roof and A/C , both done in 2022. Plenty of closet and storage space. The furniture is included as well. The screen porch has been closed in with tinted glass and shades with air conditioner . It adds considerable size to the home. There is also a screened in area off of carport for outdoor relaxing. The home is on a corner lot in a quiet area. Its rare to find a single home in Boynton Beach at this price and with a very low HOA! This one wont last. Come see all that this home and the community have to offer. Community has 2 pools one which is heated in winter months, shuffleboard, bocce ball, bingo, billiards, horseshoes, Seller is Motivated!

21. 2020-04-06
    soldstatus $72,500
22. 2020-03-25
    soldstatus $72,500 Closed
23. 2020-02-03
    status Pending
24. 2020-01-08
    listed $79,900 Active
25. 2010-10-15
    soldstatus $45,000
26. 2010-10-06
    historical
27. 2010-07-12
    listed $54,900

ⓘ 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: $1,965 · $164/mo
• Projected year-2 tax: $1,965 · $164/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 6 d/yr ≥106°F today · 20 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,506
• − Mortgage interest: −$11,315
• − Property taxes: −$1,965
• − Insurance: −$1,010
• − Repairs & maintenance: −$2,360
• − Management: −$2,360
• − HOA: −$3,240
• − Depreciation: −$5,876
• Taxable income: $1,378
• Est. tax owed @ 24.0%: −$331
• After-tax cash flow: $4,052/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 — Boynton Beach

• Score: 72/100
• State rank: #351
• US rank: #6098

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• City population: 148,060
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 48,743
• Household income: $75,789
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 1813.0

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 0.64)
• Race & ethnicity: White 52% Black 24% Hispanic / Latino 19% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 3% Dominican 1%
• Common ancestry: Hispanic 12% Romanian 3% Scotch-Irish 2%
• Foreign-born: 27% · Canada, Jamaica, Vietnam
• Languages at home: 64% English-only · Spanish 14% French/Haitian/Cajun 13% Other Indo-European 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: ▼ -109.59%
• Current HPI: 311.7742
• Rent YoY: ▼ -0.57%
• 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

+267.9% since first listed

16 events — show timeline

• 2026-03-03 Price Changed $202,000 Beaches MLS
• 2025-09-07 Listed $209,000 Beaches MLS
• 2025-08-25 Listing Removed — Beaches MLS
• 2025-02-26 Listed $209,000 Beaches MLS
• 2022-12-21 Sold (MLS) $155,000 Beaches MLS
• 2022-11-21 Pending — Beaches MLS
• 2022-11-02 Price Changed $159,000 Beaches MLS
• 2022-10-29 Price Changed $164,900 Beaches MLS
• 2022-10-14 Listed $169,900 Beaches MLS
• 2020-04-06 Sold (Public Records) $72,500 Public Records
• 2020-03-25 Sold (MLS) $72,500 Beaches MLS
• 2020-02-03 Pending — Beaches MLS
• 2020-01-08 Listed $79,900 Beaches MLS
• 2010-10-15 Sold (MLS) $45,000 Beaches MLS
• 2010-10-06 Listing Removed — Beaches MLS
• 2010-07-12 Listed $54,900 Beaches MLS

Property tax history

+6.1%/yr

Latest (2025): $1,965 · +2.4% YoY. Source: county tax records.