135 South Blvd Unit A · Boynton Beach, FL 33435

$167,500

2 bd · 2.0 ba · 1,104 sqft · Condo public records · 310 Days on market

Built 1968 $463/mo HOA · 18% 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 +25.3/30.0
• 1% rule +10.0/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A 2-BR, 2-BA villa offers open spacious L-shaped living-dining room combo with enclosed lanai, neutral colors/accents & open rear patio. Approx 3 Miles from the Atlantic Ocean shoreline-centrally located between trendy downtown areas. Cluhhouse-pool All sizes approximate, sq, ft. taken from Palm Beach County Tax Rolls. Sec 2 will be adding new roofs - asssessment has been ratified. All fees of the association subject to change through budget process or ratification of association. Please ask listing agent for exclution list. Association does have activities throughout the year.

Key facts

• First-floor end-unit
• Private patio
• Assigned parking

Tags

• FIRST-FLOOR END-UNIT
• OPEN-CONCEPT LIVING AREA
• PRIVATE PATIO
• ASSIGNED PARKING
• MAINTENANCE-FREE LIFESTYLE

Property features AI

Finance

• Other: Directions: Secreast drive south of Woolbright; enter community then turn left on South Blvd
• Financial info: Pets not allowed
• HOA & community: Community association with monthly fee; Monthly HOA includes cable TV, insurance, grounds maintenance, sewer, water, common areas, and recreation facility; Community amenities: clubhouse, laundry, pool, shuffleboard court, community room; Senior community

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Villa; Single-story; Resale property; Faces south
• Construction: CBS construction; Composition/shingle roof; Built as a villa (public records list living area 1,104)
• Exterior features: Open patio; Patio

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Walk-in closets; Stacked bedroom layout; Furnished
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $168k.

Deal economics

• At list price, monthly cash flow is $380 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $168k).
• Recommended offer: $147k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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: Forest Park Elementary School (math 42% / reading 38%, grade F, #1,491 of 2,144 statewide, top 70%, 571 students, 81% 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 73% FRL vs 52% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% 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 (+3.6%/yr); 542 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $47k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 310 days — a 12% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $30k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $59k; list at $168k implies a 184% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $147,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 310 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. 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: 1.55% ✓
• Cap rate: 9.01%
• Cash-on-cash: 9.71%
• DSCR: 1.43
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.64% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-937
• Equity at exit: $24,975

10-year hold

• IRR: 10.2%
• Equity multiple: 1.83×
• Total profit: $38,721
• Equity at exit: $14,482

Cash invested: $46,900 (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 33435

• Rents YoY: 3.6%
• Active inventory: 542
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,590 high
• Mortgage (P&I): −$878
• Tax from tax record: −$255 /mo · $3,065/yr
• Insurance: −$70
• HOA: −$463
• Vacancy / Maint / Mgmt: −$544
• Net cashflow: $380

Break-even live

Break-even rent $2,110

Max offer price $167,500

Occupancy floor 80%

Sensitivity live

Price	-10% $474	-5% $427	+0% $380	+5% $332	+10% $285
Rent	-10% $175	-5% $277	+0% $380	+5% $482	+10% $584
Rate	-1.0pp $464	-0.5pp $422	base $380	+0.5pp $336	+1.0pp $292

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: $41,875
• Closing costs: $5,025
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Main Blvd Unit 2D Boynton Beach, FL	2.0	2.0	1104	$1,200	$1.09	19d	1	0.07mi
405 SE 20th Ave Unit 12E Boynton Beach, FL	2.0	1.0	975	$1,889	$1.94	26d	1	0.20mi
301 SE 21st Ave Boynton Beach, FL	3.0	2.0	986	$2,650	$2.69	26d	1	0.24mi
226 SW 13th Ave Unit 226 Boynton Beach, FL	3.0	2.0	1284	$3,999	$3.11	26d	1	0.28mi
405 SE 20th Ave Apt 1C Boynton Beach, FL	2.0	1.0	975	$1,949	$2.00	26d	1	0.29mi
405 SE 20th Ave Unit 6D Boynton Beach, FL	2.0	1.0	975	$1,889	$1.94	10d	1	0.29mi
255 South Blvd Unit D Boynton Beach, FL	2.0	2.0	1104	$2,100	$1.90	26d	1	0.31mi
255 South Blvd Unit D Boynton Beach, FL	2.0	2.0	1104	$1,975	$1.79	5d	1	0.31mi
515 SE 20th Ave Boynton Beach, FL	2.0	1.0	787	$1,949	$2.47	1d	5	0.35mi
2309 SE 3rd St Unit 204 Boynton Beach, FL	2.0	2.0	1150	$1,850	$1.61	26d	1	0.36mi
2309 SE 3rd St Unit 204 Boynton Beach, FL	2.0	2.0	1150	$1,850	$1.61	6d	1	0.36mi
523 SE 20th Ct Unit 5 Boynton Beach, FL	1.0	1.0	755	$1,750	$2.32	26d	1	0.38mi
127 SW 10th Ave Boynton Beach, FL	2.0	1.5	754	$3,500	$4.64	17d	1	0.47mi
1351 S Federal Hwy Boynton Beach, FL	1.0–3.0	1.0–2.0	1394	$3,088	$2.21	1d	35	0.48mi
3302 Tuscany Way Boynton Beach, FL	2.0	1.0	933	$2,900	$3.11	26d	1	0.48mi
3408 Tuscany Way Boynton Beach, FL	3.0	2.0	1293	$3,500	$2.71	24d	1	0.50mi
2016 S Federal Hwy #204 Boynton Beach, FL	2.0	2.0	963	$1,995	$2.07	10d	1	0.51mi
2016 S Federal Hwy #404 Boynton Beach, FL	2.0	2.0	963	$2,300	$2.39	17d	1	0.51mi
2016 S Federal Hwy #206 Boynton Beach, FL	2.0	2.0	963	$2,300	$2.39	26d	1	0.51mi
2006 S Federal Hwy #401 Boynton Beach, FL	2.0	2.0	963	$2,400	$2.49	26d	1	0.51mi
2120 Tuscany Way Boynton Beach, FL	2.0	2.0	1017	$2,650	$2.61	26d	1	0.53mi
2220 Tuscany Way Unit 2220 Boynton Beach, FL	2.0	2.0	1030	$2,850	$2.77	26d	1	0.53mi
651 E Woolbright Rd #103 Boynton Beach, FL	2.0	2.0	1009	$2,650	$2.63	19d	1	0.53mi
2417 Tuscany Way Unit 2417 Boynton Beach, FL	2.0	2.0	1131	$3,500	$3.09	26d	1	0.54mi
624 Snug Harbor Dr Unit B7 Boynton Beach, FL	2.0	2.0	858	$1,950	$2.27	26d	1	0.54mi
140 SE 9th Ave Unit 140 Boynton Beach, FL	3.0	2.0	1292	$3,250	$2.52	16d	1	0.54mi
140 SE 9th Ave Boynton Beach, FL	3.0	2.0	1292	$3,000	$2.32	10d	1	0.54mi
140 SE 9th Ave Boynton Beach, FL	3.0	2.0	1292	$3,250	$2.52	19d	1	0.54mi
661 E Woolbright Rd Boynton Beach, FL	2.0	2.0	1095	$3,093	$2.82	5d	1	0.54mi
2412 Tuscany Way Boynton Beach, FL	1.0	1.0	750	$3,000	$4.00	26d	1	0.54mi
2004 S Federal Hwy #102 Boynton Beach, FL	2.0	2.0	963	$2,400	$2.49	26d	1	0.55mi
2004 S Federal Hwy #102 Boynton Beach, FL	2.0	2.0	963	$2,400	$2.49	0d	1	0.55mi
1302 Tuscany Way Boynton Beach, FL	3.0	2.0	1328	$3,800	$2.86	7d	1	0.55mi
4404 Tuscany Way #4404 Boynton Beach, FL	2.0	2.0	1131	$3,500	$3.09	26d	1	0.55mi
1407 Tuscany Way #1407 Boynton Beach, FL	1.0	1.0	721	$2,100	$2.91	5d	1	0.55mi
2309 Tuscany Way #2309 Boynton Beach, FL	2.0	2.0	1131	$2,900	$2.56	26d	1	0.55mi
1306 Tuscany Way Unit 306 Boynton Beach, FL	2.0	2.0	1137	$2,500	$2.20	26d	1	0.55mi
1302 Tuscany Way #1302 Boynton Beach, FL	3.0	2.0	1328	$4,250	$3.20	26d	1	0.55mi
4411 Tuscany Way #4411 Boynton Beach, FL	2.0	2.0	1030	$2,400	$2.33	26d	1	0.55mi
2408 Tuscany Way #2408 Boynton Beach, FL	3.0	2.0	1293	$4,900	$3.79	7d	1	0.55mi

HOA detail condo

• Monthly dues: $463 · $5,556/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-22
   days on market $167,500 Active 310 DOM
2. 2026-06-21
   days on market $167,500 Active 309 DOM
3. 2026-06-18
   days on market $167,500 Active 306 DOM
4. 2026-06-17
   days on market $167,500 Active 305 DOM
5. 2026-06-16
   days on market $167,500 Active 304 DOM
6. 2026-06-15
   days on market $167,500 Active 303 DOM
7. 2026-06-13
   days on market $167,500 Active 301 DOM
8. 2026-06-09
   days on market $167,500 Active 297 DOM
9. 2026-06-07
   days on market $167,500 Active 295 DOM
10. 2026-06-04
    days on market $167,500 Active 292 DOM
11. 2026-06-03
    days on market $167,500 Active 291 DOM
12. 2026-06-01
    days on market $167,500 Active 289 DOM
13. 2026-05-31
    days on market $167,500 Active 288 DOM
14. 2026-05-04
    price $167,500
15. 2025-09-09
    price $188,500
16. 2025-08-16
    listed $197,500 Active
17. 2013-06-21
    soldstatus $59,000
18. 2013-05-31
    status Pending 588-char remark

    Show marketing remark (588 chars)

    A 2-BR, 2-BA villa offers open spacious L-shaped living-dining room combo with enclosed lanai, neutral colors/accents & open rear patio. Approx 3 Miles from the Atlantic Ocean shoreline-centrally located between trendy downtown areas. Cluhhouse-pool All sizes approximate, sq, ft. taken from Palm Beach County Tax Rolls. Sec 2 will be adding new roofs - asssessment has been ratified. All fees of the association subject to change through budget process or ratification of association. Please ask listing agent for exclution list. Association does have activities throughout the year.

19. 2013-05-31
    soldstatus $59,000 Sold 588-char remark

    Show marketing remark (588 chars)

    A 2-BR, 2-BA villa offers open spacious L-shaped living-dining room combo with enclosed lanai, neutral colors/accents & open rear patio. Approx 3 Miles from the Atlantic Ocean shoreline-centrally located between trendy downtown areas. Cluhhouse-pool All sizes approximate, sq, ft. taken from Palm Beach County Tax Rolls. Sec 2 will be adding new roofs - asssessment has been ratified. All fees of the association subject to change through budget process or ratification of association. Please ask listing agent for exclution list. Association does have activities throughout the year.

20. 2013-03-25
    listed Contingent 588-char remark

    Show marketing remark (588 chars)

    A 2-BR, 2-BA villa offers open spacious L-shaped living-dining room combo with enclosed lanai, neutral colors/accents & open rear patio. Approx 3 Miles from the Atlantic Ocean shoreline-centrally located between trendy downtown areas. Cluhhouse-pool All sizes approximate, sq, ft. taken from Palm Beach County Tax Rolls. Sec 2 will be adding new roofs - asssessment has been ratified. All fees of the association subject to change through budget process or ratification of association. Please ask listing agent for exclution list. Association does have activities throughout the year.

21. 1994-09-14
    soldstatus $48,000
22. 1991-04-08
    soldstatus $44,000

ⓘ 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: $3,065 · $255/mo
• Projected year-2 tax: $3,065 · $255/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 ≥105°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,081
• − Mortgage interest: −$9,383
• − Property taxes: −$3,065
• − Insurance: −$838
• − Repairs & maintenance: −$2,486
• − Management: −$2,486
• − HOA: −$5,556
• − Depreciation: −$4,873
• Taxable income: $2,394
• Est. tax owed @ 24.0%: −$575
• After-tax cash flow: $3,980/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): 37,833
• Household income: $67,979
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 1623.0

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 0.65)
• Race & ethnicity: White 41% Black 40% Hispanic / Latino 15% Two or more races 10%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Hispanic 23% Romanian 2% Lithuanian 2%
• Foreign-born: 30% · Canada, Jamaica
• Languages at home: 61% English-only · French/Haitian/Cajun 24% Spanish 11% 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: ▼ -345.86%
• Current HPI: 371.0527
• Rent YoY: ▲ 3.64%
• 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

+280.7% since first listed

9 events — show timeline

• 2026-05-04 Price Changed $167,500 Beaches MLS
• 2025-09-09 Price Changed $188,500 Beaches MLS
• 2025-08-16 Listed $197,500 Beaches MLS
• 2013-06-21 Sold (Public Records) $59,000 Public Records
• 2013-05-31 Pending — Beaches MLS
• 2013-05-31 Sold (MLS) $59,000 Beaches MLS
• 2013-03-25 Listed — Beaches MLS
• 1994-09-14 Sold (Public Records) $48,000 Public Records
• 1991-04-08 Sold (Public Records) $44,000 Public Records

Property tax history

+8.3%/yr

Latest (2025): $3,065 · +5.6% YoY. Source: county tax records.