1114 Lake Ter #205 · Boynton Beach, FL 33426

$118,900

1 bd · 1.0 ba · 675 sqft · Condo public records · 67 Days on market

Built 1973 $446/mo HOA · 23% 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 +24.9/30.0
• 1% rule +10.0/10.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Absolutely beautifully remodeled condo offering fantastic lake views. This move in ready residence features a brand-new kitchen with sleek stainless steel appliances, fresh interior paint, new flooring throughout, and a stylishly updated bathroom vanity. Enjoy modern finishes and a bright, refreshed living space in a desirable setting. The amenities are unbeatable with an 18-hole Par 3 golf course, 3 Clubhouses with social events and activities, 3 Heated Pools for year-round enjoyment, Bocce Ball, Shuffleboard, and much more! All of this in a quiet, friendly neighborhood just minutes from the ocean beaches, shopping, dining, and I-95 for an easy commute.

Key facts

• 3 clubhouses
• Lake views
• Brand-new kitchen

Tags

• LAKE VIEWS
• BRAND-NEW KITCHEN
• STAINLESS STEEL APPLIANCES
• UPDATED BATHROOM VANITY
• 18-HOLE PAR 3 GOLF COURSE
• 3 CLUBHOUSES

Property features AI

Finance

• Financial info: No land lease; Pets not allowed; Senior community
• HOA & community: Has association (Palm Beach Leisureville Community Association, Inc); Monthly HOA fee; Association amenities: Clubhouse, Fitness Center, Pool, Spa/Hot Tub, Shuffleboard Court, Community Room, Parking, Security, Other; HOA fee includes insurance, grounds maintenance, trash, common areas, roof repairs

Exterior

• Parking: Assigned parking; Guest parking (total 1 parking space)
• Security: Security patrol
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; Second-floor entry; West-facing; Resale unit, updated/remodeled
• Construction: Stucco construction; Flat roof; Building has 2 stories
• Exterior features: Lake access; Waterfront property

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom on the main level
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air; Ceiling fan(s)
• Interior features: Walk-in closet(s); Sliding windows
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $112k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: Galaxy Elementary School (math 36% / reading 39%, grade F, #1,596 of 2,144 statewide, top 75%, 617 students, 87% 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 schools average 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 50% district-wide (-22 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 flat; 232 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 32% of the median local income ($74k/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 $822 of loan paydown is wiped out by about $4k 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 67 days — a 6% lower offer ($112k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,766 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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: 1.64% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.25%
• DSCR: 1.41
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.93% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.80×
• Total profit: $-6,595
• Equity at exit: $17,728

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $891
• Equity at exit: $10,280

Cash invested: $33,292 (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 33426

• Rents YoY: 0.9%
• Active inventory: 232
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,953 high
• Mortgage (P&I): −$624
• Tax from tax record: −$167 /mo · $2,006/yr
• Insurance: −$50
• HOA: −$446
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $257

Break-even live

Break-even rent $1,628

Max offer price $118,900

Occupancy floor 82%

Sensitivity live

Price	-10% $324	-5% $290	+0% $257	+5% $223	+10% $189
Rent	-10% $102	-5% $179	+0% $257	+5% $334	+10% $411
Rate	-1.0pp $316	-0.5pp $287	base $257	+0.5pp $226	+1.0pp $194

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: $29,725
• Closing costs: $3,567
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1100 Audace Ave Boynton Beach, FL	1.0–3.0	1.0–2.0	1021	$2,012	$1.97	0d	22	0.74mi
4 Renaissance Way #302 Boynton Beach, FL	1.0	1.0	747	$1,945	$2.60	12d	1	0.96mi
2407 Renaissance Way Boynton Beach, FL	1.0	1.0	744	$1,950	$2.62	9d	1	1.04mi
1660 Renaissance Commons Blvd Boynton Beach, FL	1.0	1.0	798	$1,962	$2.46	0d	2	1.13mi
1690 Renaissance Commons Blvd Boynton Beach, FL	2.0–3.0	2.0	940	$2,300	$2.45	1d	3	1.14mi
430 NW 12th Ave Unit A Boynton Beach, FL	1.0	1.0	500	$2,195	$4.39	26d	1	1.24mi
408 NW 13th Ave Unit 2 Boynton Beach, FL	1.0	1.0	400	$1,375	$3.44	26d	1	1.31mi
115 SW 1st Ave Boynton Beach, FL	1.0–2.0	1.0–2.0	804	$1,875	$2.33	16d	2	1.32mi

HOA detail condo

• Monthly dues: $446 · $5,352/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-21
   days on market $118,900 Active 67 DOM
2. 2026-06-18
   days on market $118,900 Active 64 DOM
3. 2026-06-17
   days on market $118,900 Active 63 DOM
4. 2026-06-16
   days on market $118,900 Active 62 DOM
5. 2026-06-15
   days on market $118,900 Active 61 DOM
6. 2026-06-13
   days on market $118,900 Active 59 DOM
7. 2026-06-09
   days on market $118,900 Active 55 DOM
8. 2026-06-08
   days on market $118,900 Active 54 DOM
9. 2026-06-07
   days on market $118,900 Active 53 DOM
10. 2026-06-04
    days on market $118,900 Active 50 DOM
11. 2026-06-03
    days on market $118,900 Active 49 DOM
12. 2026-06-02
    days on market $118,900 Active 48 DOM
13. 2026-06-01
    days on market $118,900 Active 47 DOM
14. 2026-05-31
    days on market $118,900 Active 46 DOM
15. 2026-04-15
    listed $118,900 Active

ⓘ 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: $2,006 · $167/mo
• Projected year-2 tax: $2,006 · $167/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥105°F today · 22 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: $23,436
• − Mortgage interest: −$6,660
• − Property taxes: −$2,006
• − Insurance: −$594
• − Repairs & maintenance: −$1,875
• − Management: −$1,875
• − HOA: −$5,352
• − Depreciation: −$3,459
• Taxable income: $1,614
• Est. tax owed @ 24.0%: −$387
• After-tax cash flow: $2,692/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

• Census place: Boynton Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 148,060
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 24,255
• Household income: $74,223
• Rent vs Own: 36.7% rent · 63.3% own
• Severe rent burden: 1417.0

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 0.66)
• Race & ethnicity: White 51% Black 23% Hispanic / Latino 17% Two or more races 14% Asian 4%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2%
• Common ancestry: Hispanic 9% Romanian 2% Lithuanian 2%
• Foreign-born: 29% · Canada, Jamaica, Vietnam
• Languages at home: 66% English-only · Spanish 16% French/Haitian/Cajun 11% Other Indo-European 5%

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: ▼ -205.96%
• Current HPI: 335.3805
• Rent YoY: ▲ 0.93%
• 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

1 event — show timeline

• 2026-04-15 Listed $118,900 Beaches MLS

Property tax history

+6.9%/yr

Latest (2025): $2,006 · +3.6% YoY. Source: county tax records.