500 SW 2nd Ave #2150 · Boca Raton, FL 33432

$169,000

1 bd · 1.0 ba · 512 sqft · Condo public records · 37 Days on market

Built 1971 $578/mo HOA · 25% 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 +17.7/30.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• 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 MLS

* * GREAT FOR INVESTOR CAN BE RENT FOR $1100 PER MONTH * * BEAUTIFUL CONDO 1/1 IN DOWNTOWN BOCA RATON , BEAUTIFUL CONDO , UPGRADED WITH A LOT OF LIGHT, SPACIOUS, PERFECT FOR INVESTMENT OR OWN HOME , NEAR RESTAURANTS AND SHOPPING CENTERS.

Key facts

• Strong rental income
• Updated bathroom
• Ample storage

Tags

• STRONG RENTAL INCOME
• UPDATED BATHROOM
• AMPLE STORAGE
• CLEAN MOVE-IN-READY SPACE
• COMMON LAUNDRY FACILITIES
• ASSIGNED PARKING SPACE

Property features AI

Finance

• Other: Pets allowed: No / No pet restrictions
• HOA & community: Monthly association fee of $578

Exterior

• Parking: 2-car garage; 2 covered parking spaces
• Home design: 2-story property; Entry on level 2
• Construction: Resale construction

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Other

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $169k.

Deal economics

• At list price, monthly cash flow is $135 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $164k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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 fast (+4.6%/yr); 472 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 37 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $81k; list at $169k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% 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 $163,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1971 — 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: 1.36% ✓
• Cap rate: 7.25%
• Cash-on-cash: 3.43%
• DSCR: 1.15
• GRM: 6.1

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: -8.3%
• Equity multiple: 0.69×
• Total profit: $-14,757
• Equity at exit: $25,198

10-year hold

• IRR: 4.0%
• Equity multiple: 1.32×
• Total profit: $15,214
• Equity at exit: $14,612

Cash invested: $47,320 (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: 472
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,303 high
• Mortgage (P&I): −$886
• Tax from tax record: −$150 /mo · $1,799/yr
• Insurance: −$70
• HOA: −$578
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $135

Break-even live

Break-even rent $2,132

Max offer price $169,000

Occupancy floor 89%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33 SE 8th St Boca Raton, FL	3.0	1.0–2.0	915	$2,927	$3.20	1d	20	0.17mi
131 S Federal Hwy Boca Raton, FL	1.0–2.0	1.0–2.0	778	$2,149	$2.76	1d	12	0.26mi
101 E Camino Real Boca Raton, FL	3.0	1.0–2.5	1077	$4,312	$4.00	2d	8	0.31mi
431 W Camino Real Boca Raton, FL	1.0	1.0	500	$1,600	$3.20	24d	1	0.37mi
9 Plaza Real S Boca Raton, FL	2.0	1.0–2.0	795	$3,275	$4.12	3d	15	0.38mi
320 W Palmetto Park Rd Boca Raton, FL	3.0	1.0–3.0	1213	$2,663	$2.19	1d	27	0.39mi
101 SW 12th St Boca Raton, FL	1.0	1.0	575	$1,813	$3.15	1d	8	0.40mi
50 SE 12th St #1520 Boca Raton, FL	1.0	1.0	675	$1,750	$2.59	19d	1	0.41mi
200 E Royal Palm Rd #4080 Boca Raton, FL	1.0	1.5	733	$2,499	$3.41	24d	1	0.48mi
30 SE 13th St Unit A2 Boca Raton, FL	1.0	1.0	704	$1,600	$2.27	24d	1	0.49mi
550 SW 2nd St #125 Boca Raton, FL	1.0	1.0	374	$2,150	$5.75	5d	1	0.51mi
1361 S Federal Hwy Boca Raton, FL	1.0	1.0	750	$2,324	$3.10	7d	1	0.51mi
100 SW 14th St Boca Raton, FL	1.0–3.0	1.0–2.0	917	$1,713	$1.87	2d	1	0.56mi
333 E Palmetto Park Rd Boca Raton, FL	1.0–3.0	1.0–2.5	1432	$3,159	$2.21	1d	24	0.69mi
373 NW 4th Diagonal Boca Raton, FL	1.0	1.0	600	$1,793	$2.99	22d	1	0.89mi
1075 Spanish River Rd Unit 7 Boca Raton, FL	1.0	1.0	500	$4,975	$9.95	24d	1	0.89mi
55 NE Spanish Trl #1030 Boca Raton, FL	1.0	1.0	584	$2,400	$4.11	24d	1	0.96mi
642 NW 13th St #35 Boca Raton, FL	1.0	1.0	635	$1,750	$2.76	20d	1	1.15mi
644 NW 13th St #35 Boca Raton, FL	1.0	1.0	700	$1,650	$2.36	10d	1	1.16mi
201 S Ocean Blvd Unit 7 Boca Raton, FL	—	1.0	600	$2,000	$3.33	14d	1	1.16mi
201 S Ocean Blvd Apt 2 Boca Raton, FL	—	1.0	600	$2,000	$3.33	24d	1	1.16mi
624 NW 13th St #22 Boca Raton, FL	—	1.0	432	$1,500	$3.47	24d	1	1.19mi
620 NW 13th St #15 Boca Raton, FL	1.0	1.0	700	$1,850	$2.64	7d	1	1.25mi
616 NW 13th St #250 Boca Raton, FL	1.0	1.0	700	$1,700	$2.43	24d	1	1.29mi
616 NW 13th St #24 Boca Raton, FL	1.0	1.0	700	$1,750	$2.50	24d	1	1.29mi
1721 NW 15th Vis Boca Raton, FL	—	1.0	550	$1,695	$3.08	19d	1	1.42mi
289 NE 15th Ter Unit 3 Boca Raton, FL	—	1.0	400	$1,200	$3.00	24d	1	1.44mi
260 NW 19th St #27 Boca Raton, FL	2.0	1.0	750	$2,000	$2.67	5d	1	1.50mi
260 NW 19th St #290 Boca Raton, FL	2.0	1.0	750	$1,950	$2.60	24d	1	1.50mi

HOA detail condo

• Monthly dues: $578 · $6,936/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $169,000 Active 37 DOM
2. 2026-06-17
   days on market $169,000 Active 36 DOM
3. 2026-06-16
   days on market $169,000 Active 35 DOM
4. 2026-06-15
   days on market $169,000 Active 34 DOM
5. 2026-06-13
   days on market $169,000 Active 32 DOM
6. 2026-06-09
   days on market $169,000 Active 28 DOM
7. 2026-06-08
   days on market $169,000 Active 27 DOM
8. 2026-06-07
   days on market $169,000 Active 26 DOM
9. 2026-06-04
   days on market $169,000 Active 23 DOM
10. 2026-06-03
    days on market $169,000 Active 22 DOM
11. 2026-06-02
    days on market $169,000 Active 21 DOM
12. 2026-06-01
    days on market $169,000 Active 20 DOM
13. 2026-05-31
    days on market $169,000 Active 19 DOM
14. 2026-05-12
    listed $169,000 Active
15. 2018-11-07
    soldstatus $81,000
16. 2018-10-30
    soldstatus $81,000 Sold 239-char remark

    Show marketing remark (239 chars)

    * * GREAT FOR INVESTOR CAN BE RENT FOR $1100 PER MONTH * * BEAUTIFUL CONDO 1/1 IN DOWNTOWN BOCA RATON , BEAUTIFUL CONDO , UPGRADED WITH A LOT OF LIGHT, SPACIOUS, PERFECT FOR INVESTMENT OR OWN HOME , NEAR RESTAURANTS AND SHOPPING CENTERS.

17. 2018-09-24
    status Pending 239-char remark

    Show marketing remark (239 chars)

    * * GREAT FOR INVESTOR CAN BE RENT FOR $1100 PER MONTH * * BEAUTIFUL CONDO 1/1 IN DOWNTOWN BOCA RATON , BEAUTIFUL CONDO , UPGRADED WITH A LOT OF LIGHT, SPACIOUS, PERFECT FOR INVESTMENT OR OWN HOME , NEAR RESTAURANTS AND SHOPPING CENTERS.

18. 2018-05-04
    listed $95,000 Active 239-char remark

    Show marketing remark (239 chars)

    * * GREAT FOR INVESTOR CAN BE RENT FOR $1100 PER MONTH * * BEAUTIFUL CONDO 1/1 IN DOWNTOWN BOCA RATON , BEAUTIFUL CONDO , UPGRADED WITH A LOT OF LIGHT, SPACIOUS, PERFECT FOR INVESTMENT OR OWN HOME , NEAR RESTAURANTS AND SHOPPING CENTERS.

19. 2015-07-06
    status Pending 636-char remark

    Show marketing remark (636 chars)

    Institutional owned REO, WOW the lowest priced condo in all of downtown Boca Raton. Priced way below market for super-fast sale. This second floor unit is near Mizner Park and The Pink Plaza with shops, restaurants, entertainment, beaches and near FAU. All great Boca schools nearby. Tile and laminate floors throughout, accordion shutters, extra storage and laundry room right next door, nice floor plan. Boca Towne Centre has a community pool. Why live anywhere else when you can live in Boca for so cheap. Property is being sold for cash only in its present ''as-is'' condition. Leasing is allowed only 1-time in any 12-month period.

20. 2015-07-06
    soldstatus $51,200 Closed 636-char remark

    Show marketing remark (636 chars)

    Institutional owned REO, WOW the lowest priced condo in all of downtown Boca Raton. Priced way below market for super-fast sale. This second floor unit is near Mizner Park and The Pink Plaza with shops, restaurants, entertainment, beaches and near FAU. All great Boca schools nearby. Tile and laminate floors throughout, accordion shutters, extra storage and laundry room right next door, nice floor plan. Boca Towne Centre has a community pool. Why live anywhere else when you can live in Boca for so cheap. Property is being sold for cash only in its present ''as-is'' condition. Leasing is allowed only 1-time in any 12-month period.

21. 2015-06-10
    historical Contingent 636-char remark

    Show marketing remark (636 chars)

    Institutional owned REO, WOW the lowest priced condo in all of downtown Boca Raton. Priced way below market for super-fast sale. This second floor unit is near Mizner Park and The Pink Plaza with shops, restaurants, entertainment, beaches and near FAU. All great Boca schools nearby. Tile and laminate floors throughout, accordion shutters, extra storage and laundry room right next door, nice floor plan. Boca Towne Centre has a community pool. Why live anywhere else when you can live in Boca for so cheap. Property is being sold for cash only in its present ''as-is'' condition. Leasing is allowed only 1-time in any 12-month period.

22. 2015-05-21
    listed $55,000 Active 636-char remark

    Show marketing remark (636 chars)

    Institutional owned REO, WOW the lowest priced condo in all of downtown Boca Raton. Priced way below market for super-fast sale. This second floor unit is near Mizner Park and The Pink Plaza with shops, restaurants, entertainment, beaches and near FAU. All great Boca schools nearby. Tile and laminate floors throughout, accordion shutters, extra storage and laundry room right next door, nice floor plan. Boca Towne Centre has a community pool. Why live anywhere else when you can live in Boca for so cheap. Property is being sold for cash only in its present ''as-is'' condition. Leasing is allowed only 1-time in any 12-month period.

23. 2006-11-29
    soldstatus $120,000
24. 1996-09-11
    soldstatus $30,000

ⓘ 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: $1,799 · $150/mo
• Projected year-2 tax: $1,799 · $150/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 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,641
• − Mortgage interest: −$9,467
• − Property taxes: −$1,799
• − Insurance: −$845
• − Repairs & maintenance: −$2,211
• − Management: −$2,211
• − HOA: −$6,936
• − Depreciation: −$4,916
• Taxable loss: −$745
• Est. tax savings @ 24.0%: +$179
• After-tax cash flow: $1,800/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

+463.3% since first listed

11 events — show timeline

• 2026-05-12 Listed $169,000 MARMLS
• 2018-11-07 Sold (Public Records) $81,000 Public Records
• 2018-10-30 Sold (MLS) $81,000 MARMLS
• 2018-09-24 Pending — MARMLS
• 2018-05-04 Listed $95,000 MARMLS
• 2015-07-06 Pending — Beaches MLS
• 2015-07-06 Sold (MLS) $51,200 Beaches MLS
• 2015-06-10 Contingent — Beaches MLS
• 2015-05-21 Listed $55,000 Beaches MLS
• 2006-11-29 Sold (Public Records) $120,000 Public Records
• 1996-09-11 Sold (Public Records) $30,000 Public Records

Property tax history

+17.9%/yr

Latest (2025): $1,799 · -12.1% YoY. Source: county tax records.