40 SE 13th St Unit A3 · Boca Raton, FL 33432

$102,000

1 bd · 1.0 ba · 754 sqft · Condo public records · 268 Days on market

Built 1968 $522/mo HOA · 21% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Discover comfort & convenience in this charming 1bdrm, 1bath 1st floor condo, ideally located in Palm Royal Apts, just minutes from Downtown Boca Raton, the beach, & top shopping. With 754 sq ft of thoughtfully designed living space, this home features an updated kitchen, an open-concept living & dining area, & 2 energy-efficient mini split A/C units to keep you cool year round. The spacious bdrm opens to a private screened-in patio, complete w/ roll-down shutters. Additional highlights include in-unit washer & dryer, storage space, partial impact glass, & easy ground-floor access. Fantastic amenities include a sparkling pool, shuffleboard courts, & a c

Key facts

• Partial impact glass
• Updated kitchen
• In-unit washer dryer

Tags

• UPDATED KITCHEN
• OPEN-CONCEPT LIVING
• PRIVATE SCREENED-IN PATIO
• IN-UNIT WASHER DRYER
• PARTIAL IMPACT GLASS
• EASY GROUND-FLOOR ACCESS

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Community amenities: clubhouse, pool, shuffleboard court; HOA dues paid monthly; HOA covers insurance, trash, water, common areas; Senior community

Exterior

• Parking: Assigned parking; Guest parking; 1 open parking space
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Multi/split levels; Entry-level living area; Faces west
• Construction: CBS construction; Built-up roof; 2-story building; Built in public-records era (resale unit)
• Exterior features: Screened patio; Patio

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom on main level
• Flooring: Ceramic tile; Tile flooring throughout
• Bathrooms: 1 full bathroom
• Heating & cooling: Window/wall heating; Wall/window cooling units
• Interior features: Built-in features; Closet cabinetry; Unfurnished

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $102k.

Deal economics

• At list price, monthly cash flow is $807 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $102k).
• Recommended offer: $90k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.8% 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: employment A+, health & safety A+, crime B+; 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.
• Zoned schools: Boca Raton Elementary School (math 47% / reading 52%, grade D, #1,088 of 2,144 statewide, top 53%, 365 students, 62% FRL); Boca Raton Community Middle School (math 59% / reading 61%, grade B, #135 of 571 statewide, top 24%, 1,225 students, 41% FRL); West Boca Raton High School (math 55% / reading 70%, grade B-, #93 of 667 statewide, top 14%, 2,271 students, 28% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 472 active listings in the ZIP; 40 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $705 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.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $29k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 268 days — a 12% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 28y ago; this cycle's ask has dropped $63k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $102k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 268 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 1968 — 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. 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?
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: 2.42% ✓
• Cap rate: 15.79%
• Cash-on-cash: 33.93%
• DSCR: 2.51
• GRM: 3.4

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: 31.7%
• Equity multiple: 2.37×
• Total profit: $39,144
• Equity at exit: $15,209

10-year hold

• IRR: 40.0%
• Equity multiple: 5.14×
• Total profit: $118,237
• Equity at exit: $8,819

Cash invested: $28,560 (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 33432

• Rents YoY: 4.6%
• Active inventory: 472
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,471 high
• Mortgage (P&I): −$535
• Tax from tax record: −$45 /mo · $538/yr
• Insurance: −$42
• HOA: −$522
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $807

Break-even live

Break-even rent $1,448

Max offer price $102,000

Occupancy floor 62%

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: $25,500
• Closing costs: $3,060
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30 SE 13th St Unit A2 Boca Raton, FL	1.0	1.0	704	$1,600	$2.27	24d	1	0.01mi
55 SE 14th St #1120 Boca Raton, FL	2.0	2.0	1053	$2,375	$2.26	14d	1	0.06mi
55 SE 14th St #1120 Boca Raton, FL	2.0	2.0	1053	$2,400	$2.28	24d	1	0.06mi
1361 S Federal Hwy Boca Raton, FL	1.0	1.0	750	$2,324	$3.10	7d	1	0.07mi
50 SE 12th St #1520 Boca Raton, FL	1.0	1.0	675	$1,750	$2.59	19d	1	0.08mi
50 SE 12th St #2260 Boca Raton, FL	2.0	2.0	870	$4,000	$4.60	24d	1	0.08mi
50 SE 12th St #145 Boca Raton, FL	2.0	1.0	800	$1,949	$2.44	24d	1	0.10mi
100 SW 14th St Boca Raton, FL	1.0–3.0	1.0–2.0	917	$1,713	$1.87	2d	1	0.18mi
101 SW 12th St Boca Raton, FL	1.0	1.0	575	$1,813	$3.15	1d	8	0.19mi
101 E Camino Real Boca Raton, FL	3.0	1.0–2.5	1077	$4,312	$4.00	1d	8	0.29mi
33 SE 8th St Boca Raton, FL	3.0	1.0–2.0	915	$2,927	$3.20	1d	20	0.35mi
650 SW 2nd Ave Unit 252 Boca Raton, FL	2.0	1.5	803	$2,000	$2.49	13d	1	0.41mi
600 SW 2nd Ave Unit 240 Boca Raton, FL	2.0	2.0	864	$2,700	$3.12	14d	1	0.45mi
299 SW 7th St #103 Boca Raton, FL	2.0	2.0	888	$1,850	$2.08	24d	1	0.45mi
299 SW 7th St #1040 Boca Raton, FL	2.0	2.0	888	$2,100	$2.36	24d	1	0.46mi
371 SW 8th St Unit 2-H-W Boca Raton, FL	2.0	1.0	863	$1,850	$2.14	24d	1	0.46mi
422 SW 9th St Unit 6 Boca Raton, FL	1.0	2.0	914	$2,095	$2.29	24d	1	0.47mi
550 SW 2nd Ave #1210 Boca Raton, FL	2.0	2.0	864	$2,150	$2.49	24d	1	0.47mi
20 Royal Palm Way Unit 503 Boca Raton, FL	2.0	2.0	1095	$5,500	$5.02	24d	1	0.59mi
100 Royal Palm Way #2040 Boca Raton, FL	1.0	1.5	900	$1,195	$1.33	24d	1	0.61mi
14 Royal Palm Way #303 Boca Raton, FL	2.0	2.0	1095	$5,250	$4.79	24d	1	0.63mi
14 Royal Palm Way Boca Raton, FL	1.0–2.0	1.0–2.0	945	$2,300	$2.43	7d	2	0.63mi
4 Royal Palm Way Boca Raton, FL	1.0–2.0	1.0–2.0	962	$2,050	$2.13	21d	2	0.63mi
233 S Federal Hwy Boca Raton, FL	2.0–3.0	2.0	1222	$4,000	$3.27	21d	2	0.65mi
233 S Federal Hwy Boca Raton, FL	2.0–3.0	2.0	1181	$3,900	$3.30	17d	3	0.65mi
27 Royal Palm Way #503 Boca Raton, FL	2.0	2.0	1081	$2,500	$2.31	5d	1	0.66mi
1035 Spanish River Rd Unit 108 Boca Raton, FL	1.0	1.0	850	$3,250	$3.82	24d	1	0.69mi
131 S Federal Hwy Boca Raton, FL	1.0–2.0	1.0–2.0	778	$2,149	$2.76	1d	12	0.72mi
101 Plaza Real S Boca Raton, FL	1.0–3.0	1.0–2.0	1188	$3,000	$2.53	3d	6	0.72mi
230 SW 1st St Boca Raton, FL	2.0	2.0	1000	$2,850	$2.85	14d	1	0.73mi
272 SW 1st St Unit B Boca Raton, FL	2.0	1.0	900	$2,300	$2.56	24d	1	0.74mi
770 E Camino Real #50 Boca Raton, FL	2.0	2.0	998	$3,800	$3.81	24d	1	0.76mi
4 Royal Palm Way #6020 Boca Raton, FL	2.0	1.0	1010	$2,300	$2.28	5d	1	0.77mi
9 Plaza Real S Boca Raton, FL	2.0	1.0–2.0	795	$3,275	$4.12	3d	15	0.79mi
50 SW 3rd Ave #311 Boca Raton, FL	2.0	2.0	918	$2,500	$2.72	10d	1	0.79mi
50 SW 3rd Ave #1060 Boca Raton, FL	2.0	2.0	918	$2,250	$2.45	21d	1	0.79mi
50 SW 3rd Ave #2010 Boca Raton, FL	2.0	2.0	918	$1,950	$2.12	21d	1	0.79mi
50 SW 3rd Ave #1060 Boca Raton, FL	2.0	2.0	918	$2,250	$2.45	24d	1	0.79mi
50 SW 3rd Ave #311 Boca Raton, FL	2.0	2.0	918	$2,500	$2.72	24d	1	0.79mi
99 SE Mizner Blvd Boca Raton, FL	1.0–2.0	1.0–2.0	1100	$3,250	$2.95	13d	5	0.81mi

HOA detail condo

• Monthly dues: $522 · $6,264/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-18
   days on market $102,000 Active 268 DOM
2. 2026-06-17
   days on market $102,000 Active 267 DOM
3. 2026-06-16
   days on market $102,000 Active 266 DOM
4. 2026-06-15
   days on market $102,000 Active 265 DOM
5. 2026-06-13
   days on market $102,000 Active 263 DOM
6. 2026-06-09
   days on market $102,000 Active 259 DOM
7. 2026-06-07
   days on market $102,000 Active 257 DOM
8. 2026-06-04
   days on market $102,000 Active 254 DOM
9. 2026-06-03
   days on market $102,000 Active 253 DOM
10. 2026-06-02
    price $102,000 Active 251 DOM
11. 2026-06-01
    days on market $112,000 Active 251 DOM
12. 2026-05-31
    days on market $112,000 Active 250 DOM
13. 2026-04-22
    status Active
14. 2026-03-04
    historical Active Under Contract
15. 2026-01-23
    price $112,000
16. 2025-10-20
    price $99,900
17. 2025-10-09
    price $140,000
18. 2025-09-23
    listed $164,900 Active
19. 2025-07-18
    historical
20. 2025-07-10
    listed $164,900 Active
21. 2014-10-14
    historical
22. 2013-09-22
    historical
23. 2009-09-01
    soldstatus $55,000
24. 2009-06-30
    historical
25. 2009-06-23
    historical
26. 2009-04-11
    listed $64,900
27. 2008-01-14
    listed $99,900
28. 2006-11-19
    listed $119,900
29. 2000-05-24
    soldstatus $30,000
30. 2000-05-24
    soldstatus $30,000
31. 2000-05-17
    soldstatus $30,000
32. 2000-04-08
    historical
33. 1999-10-06
    listed $35,500
34. 1998-06-02
    listed $37,000
35. 1994-08-17
    soldstatus $35,000
36. 1990-05-23
    soldstatus $36,000
37. 1986-11-01
    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: $538 · $45/mo
• Projected year-2 tax: $847 · $71/mo
• Expected delta: +$308/yr (+$26/mo · 57.2%)

ⓘ 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 · 28 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: $29,646
• − Mortgage interest: −$5,714
• − Property taxes: −$538
• − Insurance: −$510
• − Repairs & maintenance: −$2,372
• − Management: −$2,372
• − HOA: −$6,264
• − Depreciation: −$2,967
• Taxable income: $8,910
• Est. tax owed @ 24.0%: −$2,138
• After-tax cash flow: $7,551/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

+273.3% since first listed

25 events — show timeline

• 2026-04-22 Relisted — Beaches MLS
• 2026-03-04 Contingent — Beaches MLS
• 2026-01-23 Price Changed $112,000 Beaches MLS
• 2025-10-20 Price Changed $99,900 Beaches MLS
• 2025-10-09 Price Changed $140,000 Beaches MLS
• 2025-09-23 Listed $164,900 Beaches MLS
• 2025-07-18 Listing Removed — Beaches MLS
• 2025-07-10 Listed $164,900 Beaches MLS
• 2014-10-14 Listing Removed — Beaches MLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2009-09-01 Sold (MLS) $55,000 Beaches MLS
• 2009-06-30 Listing Removed — Beaches MLS
• 2009-06-23 Listing Removed — Beaches MLS
• 2009-04-11 Listed $64,900 Beaches MLS
• 2008-01-14 Listed $99,900 Beaches MLS
• 2006-11-19 Listed $119,900 Beaches MLS
• 2000-05-24 Sold (Public Records) $30,000 Public Records
• 2000-05-24 Sold (Public Records) $30,000 Public Records
• 2000-05-17 Sold (MLS) $30,000 Beaches MLS
• 2000-04-08 Listing Removed — Beaches MLS
• 1999-10-06 Listed $35,500 Beaches MLS
• 1998-06-02 Listed $37,000 Beaches MLS
• 1994-08-17 Sold (Public Records) $35,000 Public Records
• 1990-05-23 Sold (Public Records) $36,000 Public Records
• 1986-11-01 Sold (Public Records) $30,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $538 · +5.2% YoY. Source: county tax records.