10143 Mangrove Dr #303 · Golf, FL 33437

$215,000

2 bd · 2.0 ba · 1,205 sqft · Condo public records · 115 Days on market

Built 1982 $850/mo HOA · 33% of rent

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Why this score? — see what drove the D 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 +7.9/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Appreciation +4.9/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0

Listing remarks

Beautifully maintained 2-bedroom, 2-bath residence in the highly desirable 55+ community of Banyan Springs. This spacious garden-style condo features an open living and dining layout filled with natural light and a private screened balcony overlooking a tranquil canal and lush treetop views — the perfect setting for morning coffee or evening relaxation. The updated kitchen includes new appliances and ample cabinetry with a convenient pass-through to the living area. The generous primary suite offers a walk-in closet and en-suite bath, while the guest bedroom is ideal for visitors or a home office. Enjoy the active Banyan Springs lifestyle with clubhouse, pool, tennis, pickleball fitne

Key facts

• Ample cabinetry
• Near shopping
• Updated kitchen

Tags

• PRIVATE SCREENED BALCONY
• TRANQUIL CANAL VIEWS
• UPDATED KITCHEN
• AMPLE CABINETRY
• ASSIGNED CARPORT PARKING
• NEAR SHOPPING

Property features AI

Finance

• Financial info: Pets not allowed; Senior community
• HOA & community: Monthly association fee; Association management and reserve fund included; Trash included; Association amenities: clubhouse, fitness center, sauna, cabana, billiard room, business center, barbecue/picnic area, trails, pickleball, tennis courts, pool, elevator(s)

Exterior

• Parking: One assigned parking space
• Security: Phone entry; Security guard
• Utilities: Electric power; Association trash service
• Home design: Attached property; 3 stories; Entry on 3rd floor
• Construction: Block construction
• Exterior features: Balcony; Enclosed porch; Open porch; Screened porch; Tennis courts (association); Association pool; Has view; Complex fenced

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Icemaker; Microwave; Refrigerator; Self-cleaning oven; Trash compactor
• Bedrooms: Bedroom on main level; Third-floor entry
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Furnishing negotiable; Closet cabinetry; Pantry; Split bedrooms; Elevator; Smoke detector(s)
• Laundry & utility: Washer hookup; Dryer (appliance included); Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $-227 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (18.7% below list).
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $175k (18.7% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 63/100 on livability (#703 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, 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: Crosspointe Elementary School (math 36% / reading 45%, grade F, #1,471 of 2,144 statewide, top 69%, 652 students, 75% FRL); Carver Middle School (math 22% / reading 34%, grade F, #486 of 571 statewide, top 86%, 732 students, 73% 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 71% FRL vs 52% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 29% at this address vs 50% district-wide (-20 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 rising (+1.3%/yr); 489 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 38% of the median local income ($81k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $966 of equity ($1k loan paydown + $-520 appreciation (-0.2% local appreciation)).
• 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 115 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y ago; this cycle's ask is 8500% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $104k; list at $215k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,893 (18.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.19% ✓
• Cap rate: 5.03%
• Cash-on-cash: -4.53%
• DSCR: 0.80
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.24% appreciation · 1.28% rent growth · sell at horizon

5-year hold

• IRR: -9.9%
• Equity multiple: 0.55×
• Total profit: $-27,033
• Equity at exit: $59,844

10-year hold

• IRR: -5.5%
• Equity multiple: 0.47×
• Total profit: $-31,891
• Equity at exit: $69,903

Cash invested: $60,200 (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 33437

• Home prices YoY: -0.1%
• Rents YoY: 1.3%
• Active inventory: 489
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,564 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$186 /mo · $2,226/yr
• Insurance: −$90
• HOA: −$850
• Vacancy / Maint / Mgmt: −$538
• Net cashflow: $-227

Break-even live

Break-even rent $2,851

Max offer price $174,893

Occupancy floor —

Sensitivity live

Price	-10% $-105	-5% $-166	+0% $-227	+5% $-288	+10% $-349
Rent	-10% $-430	-5% $-328	+0% $-227	+5% $-126	+10% $-24
Rate	-1.0pp $-119	-0.5pp $-172	base $-227	+0.5pp $-283	+1.0pp $-339

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10187 Mangrove Dr #104 Boynton Beach, FL	2.0	2.0	1260	$2,350	$1.87	26d	1	0.04mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$2,950	$2.35	3d	1	0.11mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$3,000	$2.39	26d	1	0.11mi
10423 Boynton Place Cir Boynton Beach, FL	2.0	1.0	861	$2,200	$2.56	20d	1	0.21mi
10423 Boynton Place Cir Boynton Beach, FL	2.0	1.0	861	$2,200	$2.56	9d	1	0.21mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,311	$2.27	1d	19	0.28mi
5217 Cedar Lake Rd Boynton Beach, FL	1.0–3.0	1.0–2.0	1030	$2,266	$2.20	3d	51	0.28mi
5724 Boynton Cres Boynton Beach, FL	2.0	1.0	861	$2,300	$2.67	26d	1	0.28mi
5020 Ashley Lake Dr Boynton Beach, FL	1.0	1.0	784	$2,074	$2.65	26d	1	0.38mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,346	$2.34	15d	1	0.38mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,394	$2.39	4d	1	0.38mi
10592 Tropic Palm Ave #202 Boynton Beach, FL	2.0	2.0	1385	$2,450	$1.77	26d	1	0.41mi
5133 Brisata Cir Unit P Boynton Beach, FL	3.0	2.0	1374	$2,800	$2.04	26d	1	0.43mi
5418 Firenze Dr Unit P Boynton Beach, FL	2.0	2.0	1139	$2,400	$2.11	4d	1	0.44mi
10624 Tropic Palm Ave #202 Boynton Beach, FL	3.0	2.0	1385	$2,550	$1.84	26d	1	0.44mi
4944 Equestrian Cir Unit A Boynton Beach, FL	2.0	2.0	1400	$2,500	$1.79	9d	1	0.50mi
5895 Autumn Lake Ln Unit A Boynton Beach, FL	3.0	2.0	1469	$2,600	$1.77	26d	1	0.50mi
5157 Floria Way Unit J Boynton Beach, FL	3.0	2.0	1447	$3,300	$2.28	26d	1	0.50mi
5275 Europa Dr Unit I Boynton Beach, FL	3.0	2.0	1282	$2,500	$1.95	3d	1	0.54mi
5155 Europa Dr Unit J Boynton Beach, FL	3.0	2.0	1333	$2,750	$2.06	26d	1	0.63mi
9935 Pineapple Tree Dr #202 Boynton Beach, FL	2.0	2.0	1008	$2,575	$2.55	16d	1	0.72mi
5373 Mirror Lakes Blvd Boynton Beach, FL	3.0	2.0	1310	$2,100	$1.60	26d	1	0.75mi
9900 Pineapple Tree Dr #106 Boynton Beach, FL	2.0	2.0	1008	$2,250	$2.23	26d	1	0.79mi
9498 S Military Trl #5 Boynton Beach, FL	3.0	2.5	1317	$2,900	$2.20	26d	1	0.86mi
9926 Watermill Cir Unit F Boynton Beach, FL	3.0	2.0	1471	$2,400	$1.63	26d	1	0.86mi
9940 Bauhinia Tree Way Unit B Boynton Beach, FL	1.0	1.0	1200	$2,000	$1.67	26d	1	0.98mi
9940 Bauhinia Tree Way Unit B Boynton Beach, FL	1.0	1.0	1200	$1,800	$1.50	9d	1	0.98mi
4525 Nutmeg Tree Ln Unit A Boynton Beach, FL	2.0	2.0	1404	$3,000	$2.14	26d	1	0.98mi
6396 Park Lake Cir Boynton Beach, FL	3.0	2.5	1422	$2,950	$2.07	16d	1	1.05mi
11234 Green Lake Dr #102 Boynton Beach, FL	2.0	2.0	1196	$2,200	$1.84	26d	1	1.08mi
11282 Green Lake Dr #204 Boynton Beach, FL	2.0	2.0	1196	$3,750	$3.14	26d	1	1.12mi
11211 S Military Trl Boynton Beach, FL	1.0–3.0	1.0–2.0	1033	$2,238	$2.17	0d	31	1.24mi
10206 Stonehenge Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1054	$2,280	$2.16	1d	12	1.25mi
5570 Piping Rock Dr Boynton Beach, FL	2.0	2.0	1478	$3,000	$2.03	1d	1	1.30mi
5570 Piping Rock Dr Boynton Beach, FL	2.0	2.0	1478	$2,850	$1.93	26d	1	1.30mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,315	$1.93	5d	1	1.42mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,267	$1.89	23d	1	1.42mi
4249 Quail Ridge Dr N Unit A Boynton Beach, FL	2.0	2.0	1212	$4,000	$3.30	26d	1	1.48mi

HOA detail condo

• Monthly dues: $850 · $10,200/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-21
   days on market $215,000 Active 115 DOM
2. 2026-06-18
   days on market $215,000 Active 112 DOM
3. 2026-06-17
   days on market $215,000 Active 111 DOM
4. 2026-06-16
   days on market $215,000 Active 110 DOM
5. 2026-06-15
   days on market $215,000 Active 109 DOM
6. 2026-06-13
   days on market $215,000 Active 107 DOM
7. 2026-06-09
   days on market $215,000 Active 103 DOM
8. 2026-06-08
   days on market $215,000 Active 102 DOM
9. 2026-06-07
   days on market $215,000 Active 101 DOM
10. 2026-06-04
    days on market $215,000 Active 98 DOM
11. 2026-06-03
    days on market $215,000 Active 97 DOM
12. 2026-06-02
    days on market $215,000 Active 96 DOM
13. 2026-06-01
    days on market $215,000 Active 95 DOM
14. 2026-05-31
    days on market $215,000 Active 94 DOM
15. 2026-04-17
    listed $2,500
16. 2026-02-26
    listed $215,000 Active
17. 2021-01-04
    price $155,000
18. 2020-10-09
    price $164,000
19. 2020-08-30
    listed $168,000 Active
20. 2019-10-10
    soldstatus $103,500
21. 2019-10-04
    status Pending
22. 2019-10-03
    soldstatus $103,500 Closed
23. 2019-09-28
    listed $103,500 Active
24. 2016-02-18
    soldstatus $99,900
25. 2016-02-17
    soldstatus $99,900 Closed
26. 2016-01-25
    status Pending
27. 2015-12-29
    listed $99,900 Active
28. 2015-12-28
    historical
29. 2015-12-17
    price $97,000
30. 2015-11-18
    listed $97,900 Active
31. 1996-01-17
    soldstatus $83,000
32. 1982-09-01
    soldstatus $67,900

ⓘ 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: $2,226 · $186/mo
• Projected year-2 tax: $2,226 · $186/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 5 d/yr ≥106°F today · 17 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: $30,768
• − Mortgage interest: −$12,043
• − Property taxes: −$2,226
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,461
• − Management: −$2,461
• − HOA: −$10,200
• − Depreciation: −$6,255
• Taxable loss: −$5,954
• Est. tax savings @ 24.0%: +$1,429
• After-tax cash flow: $-1,295/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 — Golf

• Score: 63/100
• State rank: #703
• US rank: #14941

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 37,229
• Household income: $80,710
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 902.0

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 (68%)
• Race & ethnicity: White 68% Two or more races 13% Hispanic / Latino 12% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1% Dominican 1%
• Common ancestry: Scotch-Irish 8% Romanian 8% Hispanic 6%
• Foreign-born: 18% · Canada, Jamaica, Vietnam
• Languages at home: 78% English-only · Spanish 10% French/Haitian/Cajun 6% 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: ▼ -0.24%
• Current HPI: 257.5891
• Rent YoY: ▲ 1.28%
• 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

-96.3% since first listed

18 events — show timeline

• 2026-04-17 Listed for Rent $2,500 MARMLS
• 2026-02-26 Listed $215,000 MARMLS
• 2021-01-04 Price Changed $155,000 MARMLS
• 2020-10-09 Price Changed $164,000 MARMLS
• 2020-08-30 Listed $168,000 MARMLS
• 2019-10-10 Sold (Public Records) $103,500 Public Records
• 2019-10-04 Pending — Beaches MLS
• 2019-10-03 Sold (MLS) $103,500 Beaches MLS
• 2019-09-28 Listed $103,500 Beaches MLS
• 2016-02-18 Sold (Public Records) $99,900 Public Records
• 2016-02-17 Sold (MLS) $99,900 Beaches MLS
• 2016-01-25 Pending — Beaches MLS
• 2015-12-29 Listed $99,900 Beaches MLS
• 2015-12-28 Listing Removed — Beaches MLS
• 2015-12-17 Price Changed $97,000 Beaches MLS
• 2015-11-18 Listed $97,900 Beaches MLS
• 1996-01-17 Sold (Public Records) $83,000 Public Records
• 1982-09-01 Sold (Public Records) $67,900 Public Records

Property tax history

+4.5%/yr

Latest (2025): $2,226 · -19.3% YoY. Source: county tax records.