2615 NE 3rd Ct #1060 · Boynton Beach, FL 33435

$122,000

1 bd · 1.5 ba · 874 sqft · Condo public records · 126 Days on market

Built 1974 $475/mo HOA · 25% 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 +23.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 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

Ground floor, Parking right in front of your door, Updated with a beautiful patio w garden view and private. Completely updated! bedroom + DEN and 1.5 bathroom, with This home offers a bright and open floor plan with beautiful and serene garden views and a BBQ Area. Beautiful brand new kitchen featuring shaker cabinets, sleek quartz countertops with extra space for barstools area, new SS appliances and LED lights. New neutral porcelain wood-looking tile throughout the whole unit. Remodeled bathrooms, Fresh Paint. Concrete roof, New barn doors dividing Living room from the the lFlorida/Porch area. fantastic 55+ community with two clubhouses, two pools , Spa, Theater, Gym, Tennis/Pickeball c

Key facts

• Quartz countertops
• New ss appliances
• Brand new kitchen

Tags

• UPDATED PATIO
• GARDEN VIEW
• BRAND NEW KITCHEN
• SHAKER CABINETS
• QUARTZ COUNTERTOPS
• NEW SS APPLIANCES

Property features AI

Finance

• Other: Senior community
• Financial info: Pets allowed (pet restrictions possible)
• HOA & community: Community association with monthly HOA fee; HOA amenities include billiard room, clubhouse, elevators, business center; Monthly association fee

Exterior

• Parking: 1 open parking space
• Security: Smoke detector(s)
• Utilities: Three phase electric service; Public sewer; Cable available; Sewer available
• Home design: Condominium; Resale; 1 story; Faces south; Customized wheelchair accessible
• Construction: Block and concrete construction; Built as existing (resale)
• Exterior features: Patio; Not waterfront

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: 1 bedroom on main level
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central electric heating; Central electric cooling (air)
• Interior features: Walk-in closets; Closet cabinetry; Skylight(s); Smoke detector(s)
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $122k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $122k).
• Recommended offer: $107k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: Rolling Green Elementary School (math 21% / reading 26%, grade F, #2,061 of 2,144 statewide, top 96%, 692 students, 88% FRL); Congress Community Middle School (math 21% / reading 28%, grade F, #522 of 571 statewide, top 93%, 988 students, 72% 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 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 50% district-wide (-27 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); 538 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); 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 $843 of loan paydown is wiped out by about $4k 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 126 days — a 12% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y ago; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $122k implies a 442% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $107,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 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 1974 — 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: 1.54% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.63%
• DSCR: 1.34
• 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: -3.4%
• Equity multiple: 0.87×
• Total profit: $-4,433
• Equity at exit: $18,191

10-year hold

• IRR: 7.5%
• Equity multiple: 1.59×
• Total profit: $20,184
• Equity at exit: $10,548

Cash invested: $34,160 (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: 538
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,879 high
• Mortgage (P&I): −$640
• Tax from tax record: −$102 /mo · $1,220/yr
• Insurance: −$51
• HOA: −$475
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $217

Break-even live

Break-even rent $1,604

Max offer price $122,000

Occupancy floor 83%

Sensitivity live

Price	-10% $286	-5% $252	+0% $217	+5% $183	+10% $148
Rent	-10% $69	-5% $143	+0% $217	+5% $291	+10% $366
Rate	-1.0pp $279	-0.5pp $248	base $217	+0.5pp $186	+1.0pp $153

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: $30,500
• Closing costs: $3,660
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2615 NE 3rd Ct #4030 Boynton Beach, FL	2.0	2.0	960	$1,699	$1.77	6d	1	0.03mi
330 NE 26th Ave Unit 108 Boynton Beach, FL	1.0	1.5	754	$1,375	$1.82	25d	1	0.07mi
330 NE 26th Ave Unit 108 Boynton Beach, FL	1.0	1.5	754	$1,600	$2.12	3d	1	0.07mi
2601 3rd Ct NE #202 Boynton Beach, FL	2.0	2.0	982	$1,500	$1.53	20d	1	0.07mi
2515 NE 2nd Ct #202 Boynton Beach, FL	2.0	2.0	960	$1,499	$1.56	25d	1	0.11mi
300 NE 26th Ave #1040 Boynton Beach, FL	2.0	2.0	1080	$1,559	$1.44	25d	1	0.14mi
2615 NE 1st Ct #403 Boynton Beach, FL	2.0	2.0	960	$2,100	$2.19	25d	1	0.21mi
2615 NE 1st Ct Boynton Beach, FL	2.0	2.0	960	$1,850	$1.93	20d	2	0.21mi
4 Crossings Cir Unit B Boynton Beach, FL	2.0	1.5	864	$1,950	$2.26	25d	1	0.21mi
7 Crossings Cir Boynton Beach, FL	2.0	1.5	864	$2,500	$2.89	25d	1	0.22mi
230 NE 26th Ave #1070 Boynton Beach, FL	1.0	1.5	754	$1,620	$2.15	12d	1	0.24mi
17 Crossings Cir Unit E Boynton Beach, FL	2.0	2.0	864	$1,900	$2.20	25d	1	0.24mi
230 NE 26th Ave Boynton Beach, FL	1.0–2.0	1.5–2.0	857	$1,600	$1.87	18d	2	0.25mi
14 Crossings Cir Unit E Boynton Beach, FL	2.0	2.0	953	$2,300	$2.41	25d	1	0.25mi
30 Crossings Cir Unit H Boynton Beach, FL	2.0	2.0	864	$2,400	$2.78	20d	1	0.26mi
2213 NE 1st Ct #103 Boynton Beach, FL	1.0	1.5	624	$1,350	$2.16	25d	1	0.31mi
27 Crossings Cir Unit H Boynton Beach, FL	2.0	2.0	864	$1,900	$2.20	16d	1	0.31mi
130 NE 26th Ave #307 Boynton Beach, FL	2.0	2.0	982	$3,500	$3.56	25d	1	0.31mi
117 Waterside Dr #117 Hypoluxo, FL	2.0	2.0	768	$2,000	$2.60	25d	1	0.32mi
2400 NE 1st Ln #206 Boynton Beach, FL	1.0	1.5	754	$1,800	$2.39	16d	1	0.33mi
661 Waterside Dr Hypoluxo, FL	2.0	2.0	768	$2,000	$2.60	25d	1	0.34mi
24 Crossings Cir Unit H Boynton Beach, FL	2.0	2.0	864	$2,050	$2.37	25d	1	0.35mi
2202 NE 4th St #10 Boynton Beach, FL	2.0	1.0	757	$1,900	$2.51	4d	1	0.37mi
108 NE 20th Ave #206 Boynton Beach, FL	2.0	2.0	860	$1,800	$2.09	21d	1	0.46mi
2008 S Federal Hwy Unit C207 Boynton Beach, FL	2.0	2.0	963	$2,000	$2.08	25d	1	0.55mi
311 NE 17th Ave #204 Boynton Beach, FL	2.0	2.0	1100	$1,650	$1.50	25d	1	0.55mi
410 NE 17th Ave #101 Boynton Beach, FL	2.0	1.5	1080	$1,500	$1.39	9d	1	0.57mi
640 Oak St Boynton Beach, FL	2.0	1.0	765	$2,690	$3.52	9d	1	0.64mi
1097 Wilkinson Rd Unit B Lantana, FL	2.0	1.0	855	$2,200	$2.57	3d	1	0.68mi
1097 Wilkinson Rd Unit B Lantana, FL	2.0	1.0	855	$2,200	$2.57	3d	1	0.68mi
25 S Loafing St Unit 25 Hypoluxo, FL	2.0	1.0	552	$1,500	$2.72	25d	1	0.68mi
25 S Loafing St Unit 25 Hypoluxo, FL	2.0	1.0	552	$1,500	$2.72	3d	1	0.68mi
22 S Loafing St Hypoluxo, FL	2.0	1.0	696	$1,300	$1.87	25d	1	0.68mi
1820 New Palm Way #201 Boynton Beach, FL	2.0	2.0	873	$3,500	$4.01	25d	1	0.72mi
65 Relaxed Cir Hypoluxo, FL	2.0	2.0	828	$2,000	$2.42	9d	1	0.73mi
1632 N Federal Hwy Boynton Beach, FL	1.0–3.0	1.0–2.0	1098	$2,098	$1.91	0d	19	0.77mi
1000 Scotia Dr #605 Hypoluxo, FL	2.0	1.0	901	$2,190	$2.43	9d	1	0.78mi
101 Country Ln Boynton Beach, FL	1.0	1.0	1012	$1,500	$1.48	0d	1	0.85mi
111 Yacht Club Way #107 Hypoluxo, FL	2.0	2.0	1036	$2,050	$1.98	0d	1	0.99mi
3601 High Ridge Rd Unit 206 Boynton Beach, FL	1.0	1.0	833	$1,950	$2.34	16d	1	1.01mi

HOA detail condo

• Monthly dues: $475 · $5,700/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-21
   days on market $122,000 Active 126 DOM
2. 2026-06-18
   days on market $122,000 Active 123 DOM
3. 2026-06-17
   days on market $122,000 Active 122 DOM
4. 2026-06-16
   days on market $122,000 Active 121 DOM
5. 2026-06-15
   days on market $122,000 Active 120 DOM
6. 2026-06-13
   days on market $122,000 Active 118 DOM
7. 2026-06-09
   days on market $122,000 Active 114 DOM
8. 2026-06-07
   days on market $122,000 Active 112 DOM
9. 2026-06-04
   days on market $122,000 Active 109 DOM
10. 2026-06-03
    days on market $122,000 Active 108 DOM
11. 2026-06-01
    days on market $122,000 Active 106 DOM
12. 2026-05-31
    days on market $122,000 Active 105 DOM
13. 2026-04-01
    price $124,900
14. 2026-02-14
    listed $129,900 Active
15. 2026-02-13
    historical
16. 2026-01-29
    listed $129,900 Active
17. 2019-06-04
    historical
18. 2019-05-23
    listed $65,000 Active
19. 2016-06-23
    historical
20. 2016-06-11
    price $43,000
21. 2016-06-01
    price $44,900
22. 2016-05-27
    price $45,000
23. 2016-05-24
    listed $48,000 Active
24. 2012-06-25
    soldstatus $22,500
25. 2012-06-18
    soldstatus $22,500
26. 2012-05-15
    historical
27. 2011-11-27
    listed $24,900
28. 1995-11-22
    soldstatus $13,000

ⓘ 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: $1,220 · $102/mo
• Projected year-2 tax: $1,220 · $102/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) · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 26 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: $22,548
• − Mortgage interest: −$6,834
• − Property taxes: −$1,220
• − Insurance: −$610
• − Repairs & maintenance: −$1,804
• − Management: −$1,804
• − HOA: −$5,700
• − Depreciation: −$3,549
• Taxable income: $1,027
• Est. tax owed @ 24.0%: −$247
• After-tax cash flow: $2,359/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

+860.8% since first listed

16 events — show timeline

• 2026-04-01 Price Changed $124,900 Beaches MLS
• 2026-02-14 Listed $129,900 Beaches MLS
• 2026-02-13 Listing Removed — Beaches MLS
• 2026-01-29 Listed $129,900 Beaches MLS
• 2019-06-04 Listing Removed — Beaches MLS
• 2019-05-23 Listed $65,000 Beaches MLS
• 2016-06-23 Listing Removed — Beaches MLS
• 2016-06-11 Price Changed $43,000 Beaches MLS
• 2016-06-01 Price Changed $44,900 Beaches MLS
• 2016-05-27 Price Changed $45,000 Beaches MLS
• 2016-05-24 Listed $48,000 Beaches MLS
• 2012-06-25 Sold (Public Records) $22,500 Public Records
• 2012-06-18 Sold (MLS) $22,500 Beaches MLS
• 2012-05-15 Listing Removed — Beaches MLS
• 2011-11-27 Listed $24,900 Beaches MLS
• 1995-11-22 Sold (Public Records) $13,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $1,220 · -17.7% YoY. Source: county tax records.