1401 S Federal Hwy #402 · Boca Raton, FL 33432

$210,000

1 bd · 1.5 ba · 960 sqft · Condo public records · 284 Days on market

Built 1975 $750/mo HOA · 30% 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 +8.5/30.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fabulous Unit, Located in Excellent East Boca Raton , Just South of Mizner Park and Royal Palm Plaza. Close to the Beach, Shops and Restaurant. 1 Bed 1.5 Bathroom, 2 story Condo, Balcony, flooring throughout, Master Bedroom upstairs, Upgraded Kitchen Cabinets, Granite Counter Tops, SS Appliances and updated bathroom. Unit also has 1 covered parking spot under the building. All window treatments do not convey in sale

Key facts

• Covered parking
• Elevator
• Tennis courts

Tags

• WALKING DISTANCE TO DOWNTOWN
• TENNIS COURTS
• SWIMMING POOL
• ELEVATOR
• COVERED PARKING
• BRAND NEW AIR CONDITIONER

Property features AI

Finance

• Financial info: Pets allowed with possible restrictions (breed/size limits)
• HOA & community: Association with monthly fee (HOA) — $750/month; Association includes insurance, grounds maintenance, trash, water, common areas and elevator; Building amenities: elevator(s), pool, tennis court(s), storage, trash chute

Exterior

• Parking: Assigned covered parking; 1 covered/carport space
• Utilities: Public water; Public sewer; Three-phase electric; Sewer available; Water available
• Home design: Condominium; Multi/split levels; Faces north; Resale property
• Construction: Stucco and CBS construction
• Exterior features: Not waterfront; No waterfront features

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: No main-level bedrooms specified
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating; Electric cooling
• Interior features: Walk-in closet(s); Unfurnished
• Laundry & utility: On-site laundry (building amenity)

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $210k.

Deal economics

• At list price, monthly cash flow is $-186 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (15.7% below list).
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $177k (15.7% below list) — sets the bar for cash-flow.
• Cap rate 5.2% 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 20d 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 $1k of loan paydown is wiped out by about $6k 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 284 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y 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.
• Current owner paid $125k; list at $210k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: moderate flood risk; 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 $177,132 (15.7% 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 284 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.20% ✓
• Cap rate: 5.23%
• Cash-on-cash: -3.80%
• DSCR: 0.83
• GRM: 6.9

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: -19.7%
• Equity multiple: 0.30×
• Total profit: $-41,376
• Equity at exit: $31,312

10-year hold

• IRR: -7.8%
• Equity multiple: 0.45×
• Total profit: $-32,294
• Equity at exit: $18,157

Cash invested: $58,800 (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: 6.9×

Monthly cashflow live

• Estimated rent: $2,521 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$239 /mo · $2,870/yr
• Insurance: −$88
• HOA: −$750
• Vacancy / Maint / Mgmt: −$529
• Net cashflow: $-186

Break-even live

Break-even rent $2,757

Max offer price $177,132

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: $52,500
• Closing costs: $6,300
• 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	0.07mi
55 SE 14th St #1120 Boca Raton, FL	2.0	2.0	1053	$2,400	$2.28	24d	1	0.07mi
55 SE 14th St #1120 Boca Raton, FL	2.0	2.0	1053	$2,375	$2.26	14d	1	0.07mi
1361 S Federal Hwy Boca Raton, FL	1.0	1.0	750	$2,324	$3.10	8d	1	0.08mi
50 SE 12th St #2260 Boca Raton, FL	2.0	2.0	870	$4,000	$4.60	24d	1	0.15mi
50 SE 12th St #1520 Boca Raton, FL	1.0	1.0	675	$1,750	$2.59	20d	1	0.15mi
50 SE 12th St #145 Boca Raton, FL	2.0	1.0	800	$1,949	$2.44	24d	1	0.16mi
100 SW 14th St Boca Raton, FL	1.0–3.0	1.0–2.0	917	$1,713	$1.87	2d	1	0.16mi
101 SW 12th St Boca Raton, FL	1.0	1.0	575	$1,813	$3.15	2d	8	0.23mi
101 E Camino Real Boca Raton, FL	3.0	1.0–2.5	1077	$4,312	$4.00	2d	8	0.35mi
33 SE 8th St Boca Raton, FL	3.0	1.0–2.0	915	$2,927	$3.20	1d	20	0.42mi
650 SW 2nd Ave Unit 252 Boca Raton, FL	2.0	1.5	803	$2,000	$2.49	14d	1	0.48mi
422 SW 9th St Unit 6 Boca Raton, FL	1.0	2.0	914	$2,095	$2.29	24d	1	0.51mi
371 SW 8th St Unit 2-H-W Boca Raton, FL	2.0	1.0	863	$1,850	$2.14	24d	1	0.51mi
299 SW 7th St #103 Boca Raton, FL	2.0	2.0	888	$1,850	$2.08	24d	1	0.52mi
600 SW 2nd Ave Unit 240 Boca Raton, FL	2.0	2.0	864	$2,700	$3.12	15d	1	0.52mi
299 SW 7th St #1040 Boca Raton, FL	2.0	2.0	888	$2,100	$2.36	24d	1	0.52mi
20 Royal Palm Way Unit 503 Boca Raton, FL	2.0	2.0	1095	$5,500	$5.02	24d	1	0.53mi
550 SW 2nd Ave #1210 Boca Raton, FL	2.0	2.0	864	$2,150	$2.49	24d	1	0.54mi
100 Royal Palm Way #2040 Boca Raton, FL	1.0	1.5	900	$1,195	$1.33	24d	1	0.55mi
14 Royal Palm Way #303 Boca Raton, FL	2.0	2.0	1095	$5,250	$4.79	24d	1	0.57mi
14 Royal Palm Way Boca Raton, FL	1.0–2.0	1.0–2.0	945	$2,300	$2.43	8d	2	0.57mi
4 Royal Palm Way Boca Raton, FL	1.0–2.0	1.0–2.0	962	$2,050	$2.13	22d	2	0.57mi
27 Royal Palm Way #503 Boca Raton, FL	2.0	2.0	1081	$2,500	$2.31	5d	1	0.59mi
1035 Spanish River Rd Unit 108 Boca Raton, FL	1.0	1.0	850	$3,250	$3.82	24d	1	0.69mi
4 Royal Palm Way #6020 Boca Raton, FL	2.0	1.0	1010	$2,300	$2.28	5d	1	0.71mi
233 S Federal Hwy Boca Raton, FL	2.0–3.0	2.0	1222	$4,000	$3.27	22d	2	0.72mi
233 S Federal Hwy Boca Raton, FL	2.0–3.0	2.0	1181	$3,900	$3.30	18d	3	0.72mi
770 E Camino Real #50 Boca Raton, FL	2.0	2.0	998	$3,800	$3.81	24d	1	0.77mi
9 Royal Palm Way Boca Raton, FL	2.0	2.0	1112	$3,095	$2.78	13d	3	0.77mi
12 Royal Palm Way #2050 Boca Raton, FL	2.0	2.0	1095	$2,700	$2.47	15d	1	0.78mi
101 Plaza Real S Boca Raton, FL	1.0–3.0	1.0–2.0	1188	$3,000	$2.53	3d	6	0.78mi
131 S Federal Hwy Boca Raton, FL	1.0–2.0	1.0–2.0	778	$2,149	$2.76	2d	12	0.79mi
10 Royal Palm Way #2030 Boca Raton, FL	1.0	1.0	795	$2,150	$2.70	24d	1	0.79mi
230 SW 1st St Boca Raton, FL	2.0	2.0	1000	$2,850	$2.85	15d	1	0.80mi
272 SW 1st St Unit B Boca Raton, FL	2.0	1.0	900	$2,300	$2.56	24d	1	0.81mi
11 Royal Palm Way #3030 Boca Raton, FL	1.0	1.0	795	$2,600	$3.27	5d	1	0.81mi
11 Royal Palm Way #1040 Boca Raton, FL	2.0	2.0	1095	$2,600	$2.37	8d	1	0.81mi
1111 S Ocean Blvd Boca Raton, FL	2.0–3.0	2.0–2.5	1313	$2,500	$1.90	24d	3	0.84mi
950 Ponce de Leon Rd Boca Raton, FL	2.0	2.0	1093	$2,525	$2.31	10d	1	0.85mi

HOA detail condo

• Monthly dues: $750 · $9,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $210,000 Active 284 DOM
2. 2026-06-17
   days on market $210,000 Active 283 DOM
3. 2026-06-16
   days on market $210,000 Active 282 DOM
4. 2026-06-15
   days on market $210,000 Active 281 DOM
5. 2026-06-13
   days on market $210,000 Active 279 DOM
6. 2026-06-09
   days on market $210,000 Active 275 DOM
7. 2026-06-07
   days on market $210,000 Active 273 DOM
8. 2026-06-04
   days on market $210,000 Active 270 DOM
9. 2026-06-03
   days on market $210,000 Active 269 DOM
10. 2026-06-01
    days on market $210,000 Active 267 DOM
11. 2026-05-31
    days on market $210,000 Active 266 DOM
12. 2025-09-07
    listed $210,000 Active
13. 2025-06-27
    historical
14. 2025-04-01
    price $225,500
15. 2025-03-29
    historical $2,000
16. 2025-01-31
    price $245,500
17. 2024-12-13
    listed $2,000
18. 2024-12-12
    price $252,500
19. 2024-08-07
    price $269,999
20. 2024-06-26
    listed $279,999 Active
21. 2017-01-04
    soldstatus $125,000
22. 2016-12-30
    soldstatus $125,000 Closed 421-char remark

    Show marketing remark (421 chars)

    Fabulous Unit, Located in Excellent East Boca Raton , Just South of Mizner Park and Royal Palm Plaza. Close to the Beach, Shops and Restaurant. 1 Bed 1.5 Bathroom, 2 story Condo, Balcony, flooring throughout, Master Bedroom upstairs, Upgraded Kitchen Cabinets, Granite Counter Tops, SS Appliances and updated bathroom. Unit also has 1 covered parking spot under the building. All window treatments do not convey in sale

23. 2016-10-18
    historical Active Under Contract 421-char remark

    Show marketing remark (421 chars)

    Fabulous Unit, Located in Excellent East Boca Raton , Just South of Mizner Park and Royal Palm Plaza. Close to the Beach, Shops and Restaurant. 1 Bed 1.5 Bathroom, 2 story Condo, Balcony, flooring throughout, Master Bedroom upstairs, Upgraded Kitchen Cabinets, Granite Counter Tops, SS Appliances and updated bathroom. Unit also has 1 covered parking spot under the building. All window treatments do not convey in sale

24. 2016-09-26
    listed $139,900 Active 421-char remark

    Show marketing remark (421 chars)

    Fabulous Unit, Located in Excellent East Boca Raton , Just South of Mizner Park and Royal Palm Plaza. Close to the Beach, Shops and Restaurant. 1 Bed 1.5 Bathroom, 2 story Condo, Balcony, flooring throughout, Master Bedroom upstairs, Upgraded Kitchen Cabinets, Granite Counter Tops, SS Appliances and updated bathroom. Unit also has 1 covered parking spot under the building. All window treatments do not convey in sale

25. 2013-03-06
    soldstatus $85,500

ⓘ 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: $2,870 · $239/mo
• Projected year-2 tax: $2,870 · $239/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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,257
• − Mortgage interest: −$11,763
• − Property taxes: −$2,870
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,421
• − Management: −$2,421
• − HOA: −$9,000
• − Depreciation: −$6,109
• Taxable loss: −$5,377
• Est. tax savings @ 24.0%: +$1,290
• After-tax cash flow: $-942/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

+145.6% since first listed

14 events — show timeline

• 2025-09-07 Listed $210,000 Beaches MLS
• 2025-06-27 Listing Removed — Beaches MLS
• 2025-04-01 Price Changed $225,500 Beaches MLS
• 2025-03-29 Rental Removed $2,000 RMLSFL
• 2025-01-31 Price Changed $245,500 Beaches MLS
• 2024-12-13 Listed for Rent $2,000 RMLSFL
• 2024-12-12 Price Changed $252,500 Beaches MLS
• 2024-08-07 Price Changed $269,999 Beaches MLS
• 2024-06-26 Listed $279,999 Beaches MLS
• 2017-01-04 Sold (Public Records) $125,000 Public Records
• 2016-12-30 Sold (MLS) $125,000 Beaches MLS
• 2016-10-18 Contingent — Beaches MLS
• 2016-09-26 Listed $139,900 Beaches MLS
• 2013-03-06 Sold (Public Records) $85,500 Public Records

Property tax history

+4.4%/yr

Latest (2025): $2,870 · +89.5% YoY. Source: county tax records.