475 Fanshaw Unit L · Boca Raton, FL 33434

$114,500

2 bd · 1.5 ba · 819 sqft · Condo public records · 120 Days on market

Built 1980 $431/mo HOA · 22% of rent

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Why this score? — see what drove the B- 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 +26.3/30.0
• 1% rule +10.0/10.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful, updated unit in Century Village Boca Raton, a 55+ community. Century Village offers many amenities: pools, tennis courts, fitness center, clubhouse, theatre, activities for residents, bus service, and many more. The unit is currently rented at $1500/month.

Key facts

• Fitness center
• Clubhouse
• Tennis courts

Tags

• UPDATED UNIT
• POOLS
• TENNIS COURTS
• FITNESS CENTER
• CLUBHOUSE
• THEATRE

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fees (multiple): $431 and $315; Association amenities include clubhouse, fitness center, billiard room, pool, sauna, tennis courts, laundry facilities, elevators, and transportation service; Security services included in association; Senior community

Exterior

• Parking: Assigned parking (one space)
• Security: Complex fenced; Key card entry; Security guard; Smoke detectors
• Utilities: Water included in association fee; Sewer included in association fee; Trash included in association fee; Hot water included in association fee; Cable TV included in association fee; Electric service (central systems)
• Home design: Attached property; 3-story building; Entry on level 1
• Construction: Block construction; Resale property
• Exterior features: Balcony; Screened balcony; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds on windows; Closet cabinetry; Combined living/dining room
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $114k.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $104k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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 (+1.8%/yr); 418 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); 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 $792 of loan paydown is wiped out by about $3k 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 120 days — a 9% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.

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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,195 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.68% ✓
• Cap rate: 9.37%
• Cash-on-cash: 11.00%
• DSCR: 1.49
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.81% rent growth · sell at horizon

5-year hold

• IRR: -1.5%
• Equity multiple: 0.94×
• Total profit: $-1,813
• Equity at exit: $17,072

10-year hold

• IRR: 6.5%
• Equity multiple: 1.46×
• Total profit: $14,620
• Equity at exit: $9,900

Cash invested: $32,060 (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 33434

• Rents YoY: 1.8%
• Active inventory: 418
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,919 high
• Mortgage (P&I): −$600
• Tax from tax record: −$143 /mo · $1,712/yr
• Insurance: −$48
• HOA: −$431
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $294

Break-even live

Break-even rent $1,547

Max offer price $114,500

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: $28,625
• Closing costs: $3,435
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
531 Fanshaw M Unit 531 Boca Raton, FL	2.0	1.5	819	$1,500	$1.83	24d	1	0.03mi
531 Fanshaw M Unit 531 Boca Raton, FL	2.0	1.5	819	$1,500	$1.83	1d	1	0.03mi
454 Fanshaw K Unit K Boca Raton, FL	1.0	1.5	715	$1,500	$2.10	14d	1	0.03mi
251 Fanshaw F Boca Raton, FL	2.0	1.5	819	$1,450	$1.77	16d	1	0.03mi
536 Fanshaw M Boca Raton, FL	2.0	2.0	819	$1,850	$2.26	24d	1	0.03mi
449 Fanshaw K #449 Boca Raton, FL	2.0	1.5	819	$1,850	$2.26	19d	1	0.03mi
389 Fanshaw J #389 Boca Raton, FL	2.0	1.5	819	$1,800	$2.20	2d	1	0.03mi
96 Fanshaw C Boca Raton, FL	1.0	1.5	702	$1,650	$2.35	14d	1	0.03mi
108 Fanshaw C Boca Raton, FL	2.0	1.5	924	$1,700	$1.84	24d	1	0.03mi
17 Fanshaw a Boca Raton, FL	2.0	1.5	819	$1,750	$2.14	21d	1	0.04mi
257 Fanshaw G Boca Raton, FL	2.0	2.0	819	$1,750	$2.14	24d	1	0.04mi
43 Fanshaw B Boca Raton, FL	2.0	1.5	819	$1,625	$1.98	24d	1	0.04mi
320 Fanshaw H #320 Boca Raton, FL	2.0	1.5	835	$1,500	$1.80	7d	1	0.04mi
560 Fanshaw N #560 Boca Raton, FL	2.0	1.5	819	$1,500	$1.83	24d	1	0.04mi
493 Fanshaw L #493 Boca Raton, FL	2.0	1.5	819	$2,300	$2.81	1d	1	0.04mi
195 Fanshaw E #195 Boca Raton, FL	1.0	1.5	792	$1,300	$1.64	7d	1	0.04mi
119 Fanshaw C Unit 119 Boca Raton, FL	1.0	1.0	585	$1,299	$2.22	24d	1	0.04mi
137 Fanshaw D Boca Raton, FL	2.0	1.5	819	$1,800	$2.20	10d	1	0.04mi
147 Fanshaw D Boca Raton, FL	1.0	1.0	601	$1,350	$2.25	24d	1	0.04mi
257 Fanshaw Way Unit 257 Boca Raton, FL	2.0	1.5	819	$1,700	$2.08	3d	1	0.11mi
257 Fanshaw Way Unit 257 Boca Raton, FL	2.0	1.5	819	$1,750	$2.14	24d	1	0.11mi
613 Fanshaw N Boca Raton, FL	2.0	1.5	819	$1,700	$2.08	2d	1	0.13mi
613 Fanshaw N Boca Raton, FL	2.0	1.5	819	$1,750	$2.14	2d	1	0.13mi
3043 Exeter Boca Raton, FL	2.0	1.5	861	$1,949	$2.26	24d	1	0.13mi
4078 Exeter Unit E Boca Raton, FL	2.0	1.5	861	$1,475	$1.71	2d	1	0.14mi
8 Fanshaw Dr Unit 8 Boca Raton, FL	1.0	1.0	585	$1,300	$2.22	7d	1	0.14mi
33 Fanshaw Dr Unit 33 Boca Raton, FL	2.0	1.5	835	$1,975	$2.37	24d	1	0.16mi
2050 Hythe C Boca Raton, FL	2.0	2.0	880	$3,200	$3.64	24d	1	0.17mi
32 Fanshaw Dr Unit 32 Boca Raton, FL	2.0	1.5	819	$1,975	$2.41	10d	1	0.18mi
445 Fanshaw N Boca Raton, FL	2.0	1.5	819	$1,550	$1.89	7d	1	0.19mi
445 Fanshaw N Boca Raton, FL	2.0	1.5	819	$1,575	$1.92	24d	1	0.19mi
4039 Exeter C Boca Raton, FL	2.0	1.5	880	$1,500	$1.70	24d	1	0.20mi
4042 Exeter C Boca Raton, FL	2.0	1.5	861	$1,500	$1.74	24d	1	0.20mi
1047 Exeter C Boca Raton, FL	2.0	1.5	880	$1,850	$2.10	20d	1	0.20mi
3032 Hythe A Unit 3032 Boca Raton, FL	2.0	2.0	896	$1,575	$1.76	24d	1	0.20mi
67 Fanshaw Dr Unit 670 Boca Raton, FL	2.0	1.5	835	$1,750	$2.10	14d	1	0.21mi
2044 Hythe C Boca Raton, FL	2.0	2.0	896	$1,825	$2.04	24d	1	0.21mi
4070 Exeter D Boca Raton, FL	2.0	1.5	861	$1,600	$1.86	24d	1	0.23mi
2027 Exeter B Boca Raton, FL	2.0	1.5	861	$1,650	$1.92	24d	1	0.23mi
82 Fanshaw Dr Unit 82 Boca Raton, FL	1.0	1.5	702	$1,250	$1.78	24d	1	0.24mi

HOA detail condo

• Monthly dues: $431 · $5,172/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $114,500 Active 120 DOM
2. 2026-06-17
   days on market $114,500 Active 119 DOM
3. 2026-06-16
   days on market $114,500 Active 118 DOM
4. 2026-06-15
   days on market $114,500 Active 117 DOM
5. 2026-06-13
   days on market $114,500 Active 115 DOM
6. 2026-06-09
   days on market $114,500 Active 111 DOM
7. 2026-06-07
   days on market $114,500 Active 109 DOM
8. 2026-06-04
   days on market $114,500 Active 106 DOM
9. 2026-06-03
   days on market $114,500 Active 105 DOM
10. 2026-06-01
    days on market $114,500 Active 103 DOM
11. 2026-05-31
    days on market $114,500 Active 102 DOM
12. 2026-02-18
    listed $114,500 Active
13. 2025-06-30
    historical
14. 2024-10-14
    price $139,000
15. 2024-09-16
    price $144,000
16. 2024-05-21
    price $149,000
17. 2024-02-05
    price $159,000
18. 2023-11-15
    listed $170,000 Active
19. 2020-04-08
    soldstatus $101,500
20. 2018-12-07
    soldstatus $52,500
21. 1990-05-25
    soldstatus $45,000
22. 1980-03-01
    soldstatus $36,300

ⓘ 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: $1,712 · $143/mo
• Projected year-2 tax: $1,712 · $143/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 7 d/yr ≥107°F today · 26 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: $23,023
• − Mortgage interest: −$6,414
• − Property taxes: −$1,712
• − Insurance: −$572
• − Repairs & maintenance: −$1,842
• − Management: −$1,842
• − HOA: −$5,172
• − Depreciation: −$3,331
• Taxable income: $2,139
• Est. tax owed @ 24.0%: −$513
• After-tax cash flow: $3,013/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): 21,686
• Household income: $77,269
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 812.0

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% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 9% Scotch-Irish 8% Italian 2%
• Foreign-born: 25% · Canada, Jamaica, South Korea
• Languages at home: 73% English-only · Spanish 15% Other Indo-European 4% Russian/Polish/Slavic 1%

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: ▼ -279.89%
• Current HPI: 271.1328
• Rent YoY: ▲ 1.81%
• 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

+215.4% since first listed

11 events — show timeline

• 2026-02-18 Listed $114,500 MARMLS
• 2025-06-30 Listing Removed — MARMLS
• 2024-10-14 Price Changed $139,000 MARMLS
• 2024-09-16 Price Changed $144,000 MARMLS
• 2024-05-21 Price Changed $149,000 MARMLS
• 2024-02-05 Price Changed $159,000 MARMLS
• 2023-11-15 Listed $170,000 MARMLS
• 2020-04-08 Sold (Public Records) $101,500 Public Records
• 2018-12-07 Sold (Public Records) $52,500 Public Records
• 1990-05-25 Sold (Public Records) $45,000 Public Records
• 1980-03-01 Sold (Public Records) $36,300 Public Records

Property tax history

+17.3%/yr

Latest (2025): $1,712 · -4.1% YoY. Source: county tax records.