5851 Parkwalk Dr · Boynton Beach, FL 33472

$249,000

3 bd · 2.0 ba · 1,335 sqft · Condo public records · 161 Days on market

Built 1985 $901/mo HOA · 32% 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).

• ARV discount +7.5/15.0
• Cash flow +7.1/30.0
• 1% rule +6.4/10.0
• Appreciation +5.1/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0

Listing remarks

Desirable 1ST FLOOR CONDO with VIEW OF THE LAKE - 2 bedrooms - Master bedroom has King bed - 2nd Bdrm has Queen bed - 2 baths AND 3rd BEDROOM is an Open concept DEN/OFFICE. Newer kitchen, enclosed patio with FABULOUS VIEWS. Easy access to airports, beach shopping, NO MEMBERSHIP FEES REQUIRED to enjoy the active-adult lifestyle in Aberdeen. Enjoy resort style living with an active clubhouse, ballroom events, resort pool area, 3 satellite pools, gym, card rooms, tennis courts and pickle ball courts.

Key facts

• Active clubhouse
• Newer kitchen
• Gym

Tags

• 1ST FLOOR CONDO
• NEWER KITCHEN
• ENCLOSED PATIO
• ACTIVE CLUBHOUSE
• RESORT POOL AREA
• GYM

Property features AI

Finance

• Other: Located in a senior community; Directions: LeChalet Blvd from Military Trail or Jog Road to Parkwalk Drive. Follow Parkwalk to the entrance to The Coves to 5851
• Financial info: Pets allowed with possible number/size limits and restrictions
• HOA & community: Community of 143 units; Association with monthly fee; HOA amenities include clubhouse, fitness center, game room, pool, spa/hot tub, tennis courts, pickleball, shuffleboard, bocce, community room, management/manager on site, sidewalks; HOA fee covers cable TV, insurance, grounds maintenance, sewer, trash, water, common areas, common real estate tax, and recreation facilities

Exterior

• Parking: Assigned parking; Guest parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Resale condition; 2 stories; Faces south; Road frontage west of US-1
• Construction: Built with CBS construction; 1,335 living area (public records)
• Exterior features: Screened patio; Patio; Sidewalks; Not waterfront

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Ceramic tile; Vinyl
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Electric cooling; Ceiling fans
• Interior features: Walk-in closets; Split bedroom layout; Furnished
• Laundry & utility: Inside laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $249k.

Deal economics

• At list price, monthly cash flow is $-351 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $187k (24.9% below list).
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $187k (24.9% below list) — sets the bar for cash-flow.

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.
• Market conditions: 169 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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

• In year one you build about $2k of equity ($2k loan paydown + $493 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 161 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y ago; this cycle's ask is 9860% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $85k; list at $249k implies a 193% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 4→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,074 (24.9% 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 161 days. Have you received any prior offers? Is the seller open to a 25% 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. 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. 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?
9. 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.
10. 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.
11. 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: 1.14% ✓
• Cap rate: 4.60%
• Cash-on-cash: -6.03%
• DSCR: 0.73
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.1%
• Equity multiple: 0.62×
• Total profit: $-26,710
• Equity at exit: $74,778

10-year hold

• IRR: -1.9%
• Equity multiple: 0.79×
• Total profit: $-14,363
• Equity at exit: $91,887

Cash invested: $69,720 (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 33472

• Home prices YoY: 0.1%
• Active inventory: 169
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,826 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$273 /mo · $3,275/yr
• Insurance: −$104
• HOA: −$901
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $-351

Break-even live

Break-even rent $3,270

Max offer price $187,074

Occupancy floor —

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5945 Parkwalk Dr Boynton Beach, FL	2.0	2.0	1178	$2,500	$2.12	22d	1	0.17mi
8520 Tourmaline Blvd Boynton Beach, FL	4.0	2.0	1699	$4,000	$2.35	18d	1	0.56mi
5537 Pebble Brook Ln Boynton Beach, FL	3.0	2.0	1166	$2,825	$2.42	15d	1	0.63mi
5072 Arbor Glen Cir Lake Worth, FL	3.0	2.0	1232	$3,300	$2.68	15d	1	0.63mi
7888 Sonoma Springs Cir #105 Lake Worth, FL	2.0	2.0	1105	$2,200	$1.99	24d	1	0.65mi
7856 Sonoma Springs Cir #205 Lake Worth, FL	2.0	2.0	1105	$2,300	$2.08	7d	1	0.69mi
7840 Sonoma Springs Cir #103 Lake Worth, FL	2.0	2.0	1105	$2,200	$1.99	24d	1	0.74mi
6581 Marissa Cir Lake Worth, FL	3.0	2.0	1414	$3,300	$2.33	18d	1	0.77mi
7085 Merganser Ct Lake Worth, FL	2.0	2.0	1155	$2,110	$1.83	1d	1	0.88mi
8082 Aberdeen Dr #102 Boynton Beach, FL	2.0	2.0	1619	$8,500	$5.25	24d	1	1.02mi
6731 Southport Dr Boynton Beach, FL	3.0	2.0	1727	$3,600	$2.08	24d	1	1.03mi
6365 Lansdowne Cir Boynton Beach, FL	3.0	2.0	1769	$3,200	$1.81	3d	1	1.03mi
6836 Long Key St Lake Worth, FL	3.0	2.5	1637	$2,950	$1.80	17d	1	1.34mi
4725 Via Bari Lake Worth, FL	1.0–3.0	1.0–2.0	1150	$2,829	$2.46	3d	10	1.42mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	20d	1	1.45mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	7d	1	1.45mi
4947 Grinnell St Lake Worth, FL	3.0	2.5	1309	$2,850	$2.18	24d	1	1.46mi

HOA detail condo

• Monthly dues: $901 · $10,812/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $249,000 Active 161 DOM
2. 2026-06-17
   days on market $249,000 Active 160 DOM
3. 2026-06-16
   days on market $249,000 Active 159 DOM
4. 2026-06-15
   days on market $249,000 Active 158 DOM
5. 2026-06-13
   days on market $249,000 Active 156 DOM
6. 2026-06-09
   days on market $249,000 Active 152 DOM
7. 2026-06-07
   days on market $249,000 Active 150 DOM
8. 2026-06-04
   days on market $249,000 Active 147 DOM
9. 2026-06-03
   days on market $249,000 Active 146 DOM
10. 2026-06-01
    days on market $249,000 Active 144 DOM
11. 2026-05-31
    days on market $249,000 Active 143 DOM
12. 2026-03-31
    listed $2,500
13. 2026-03-31
    historical $2,700
14. 2026-03-21
    listed $2,700
15. 2026-03-21
    historical $2,700
16. 2026-01-10
    listed $2,700
17. 2026-01-10
    historical $2,700
18. 2026-01-09
    listed $2,700
19. 2026-01-08
    listed $249,000 Active
20. 2025-07-16
    historical $2,400
21. 2025-05-28
    listed $2,400
22. 2024-01-17
    historical $2,600
23. 2023-12-27
    price $2,600
24. 2023-11-18
    listed $2,900
25. 1999-11-16
    soldstatus $85,000
26. 1997-06-26
    soldstatus $72,000

ⓘ 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: $3,275 · $273/mo
• Projected year-2 tax: $3,275 · $273/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 4 d/yr ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,917
• − Mortgage interest: −$13,948
• − Property taxes: −$3,275
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,713
• − Management: −$2,713
• − HOA: −$10,812
• − Depreciation: −$7,244
• Taxable loss: −$8,033
• Est. tax savings @ 24.0%: +$1,928
• After-tax cash flow: $-2,279/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

• City population: 148,060
• Population (ZIP): 18,689

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 0.56)
• Race & ethnicity: White 63% Hispanic / Latino 18% Two or more races 14% Black 10% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 7%
• Common ancestry: Romanian 5% Scotch-Irish 4% Hispanic 3%
• Foreign-born: 24% · Canada, China, Jamaica
• Languages at home: 77% English-only · Spanish 11% Other Indo-European 4% French/Haitian/Cajun 3%

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: ▲ 0.20%
• Current HPI: 268.1142
• Rent YoY: —
• Metro: —
• 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

-96.5% since first listed

15 events — show timeline

• 2026-03-31 Listed for Rent $2,500 RMLSFL
• 2026-03-31 Rental Removed $2,700 RMLSFL
• 2026-03-21 Listed for Rent $2,700 RMLSFL
• 2026-03-21 Rental Removed $2,700 GFLMLS
• 2026-01-10 Listed for Rent $2,700 GFLMLS
• 2026-01-10 Rental Removed $2,700 RMLSFL
• 2026-01-09 Listed for Rent $2,700 RMLSFL
• 2026-01-08 Listed $249,000 Beaches MLS
• 2025-07-16 Rental Removed $2,400 SHOWMOJO
• 2025-05-28 Listed for Rent $2,400 SHOWMOJO
• 2024-01-17 Rental Removed $2,600 GFLMLS
• 2023-12-27 Price Changed $2,600 GFLMLS
• 2023-11-18 Listed for Rent $2,900 GFLMLS
• 1999-11-16 Sold (Public Records) $85,000 Public Records
• 1997-06-26 Sold (Public Records) $72,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $3,275 · -16.4% YoY. Source: county tax records.