8270 South St · Boca Raton, FL 33433

$169,900

2 bd · 2.0 ba · 960 sqft · Condo public records · 41 Days on market

Built 1972 $250/mo HOA · 11% 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 +27.3/30.0
• DSCR +9.5/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

RETIRE IN THE PEACEFULL SETTING OF WEST LAKES AT BOCA RATON, THE PREMIER 55 & OVER ADULT HOME PARK.LOVELY CANAL VIEWS,SPACIOUS DOUBLE WIDE MANF.HOME IDEAL FOR FULL TIME OR PART TIME LIVING,GREAT CLUBHOUSE AMMENTIES,SOLD FURN

Key facts

• Custom berber carpet
• Screened in porch
• Waterfront home

Tags

• WATERFRONT HOME
• WEST LAKES COMMUNITY
• SCREENED IN PORCH
• SERENE VIEWS OF THE CANAL
• CUSTOM BERBER CARPET
• WOOD LAMINATE FLOORS

Property features AI

Finance

• HOA & community: Community association: West Lakes; HOA fee $250 monthly; Association amenities include clubhouse, pool, laundry, community room, and recreation facilities; Senior community; Pets allowed (restrictions may apply)

Exterior

• Parking: 2 parking spaces total; Attached carport (1 covered space) with driveway
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Phone connected; Sewer connected; Water connected
• Home design: Manufactured home; One story; Resale property; Faces east
• Construction: Built with other construction materials; Other roof
• Exterior features: Porch; Screened porch; Waterfront

Interior

• Kitchen: Dishwasher; Electric range; Electric cooktop; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms (main level)
• Flooring: Carpet; Laminate; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Unfurnished; Screened porch
• Laundry & utility: Laundry inside (in kitchen)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $170k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 2.7% 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: Del Prado Elementary School (math 78% / reading 78%, grade A, #149 of 2,144 statewide, top 8%, 712 students, 26% FRL); Omni Middle School (math 66% / reading 66%, grade A-, #93 of 571 statewide, top 16%, 1,128 students, 29% FRL); Olympic Heights Community High (math 52% / reading 64%, grade C, #120 of 667 statewide, top 18%, 2,602 students, 30% FRL) — zoned schools average 28% FRL vs 52% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 67% at this address vs 50% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Palm Beach average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 435 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 32% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 28y 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 $40k; list at $170k implies a 325% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.31% ✓
• Cap rate: 9.77%
• Cash-on-cash: 12.41%
• DSCR: 1.55
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.33% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-1,940
• Equity at exit: $25,333

10-year hold

• IRR: 5.3%
• Equity multiple: 1.34×
• Total profit: $16,363
• Equity at exit: $14,690

Cash invested: $47,572 (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 33433

• Rents YoY: 0.3%
• Active inventory: 435
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,225 high
• Mortgage (P&I): −$891
• Tax from tax record: −$54 /mo · $650/yr
• Insurance: −$71
• HOA: −$250
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $492

Break-even live

Break-even rent $1,602

Max offer price $169,900

Occupancy floor 73%

Sensitivity live

Price	-10% $588	-5% $540	+0% $492	+5% $444	+10% $396
Rent	-10% $316	-5% $404	+0% $492	+5% $580	+10% $668
Rate	-1.0pp $577	-0.5pp $535	base $492	+0.5pp $448	+1.0pp $403

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8540 Chevy Chase Dr Unit 8540 Boca Raton, FL	1.0	1.0	908	$2,000	$2.20	25d	1	0.29mi
8732 Bella Vista Dr #42 Boca Raton, FL	2.0	2.0	908	$1,900	$2.09	25d	1	0.48mi
20867 Wendall Ter Boca Raton, FL	2.0	1.5	908	$1,800	$1.98	25d	1	0.49mi
8657 Boca Glades Blvd E Unit C Boca Raton, FL	3.0	2.0	1098	$2,800	$2.55	25d	1	0.51mi
8833 Bella Vista Dr #8833 Boca Raton, FL	2.0	2.0	908	$3,250	$3.58	25d	1	0.59mi
20927 Sedgewick Dr Unit 20927 Boca Raton, FL	2.0	1.0	908	$1,950	$2.15	25d	1	0.68mi
21895 Lake Forest Cir #201 Boca Raton, FL	2.0	2.0	858	$2,200	$2.56	4d	1	1.15mi
21895 Lake Forest Cir Boca Raton, FL	2.0	2.0	858	$2,225	$2.59	8d	2	1.15mi
21904 Lake Forest Cir #101 Boca Raton, FL	2.0	2.0	858	$1,890	$2.20	4d	1	1.17mi
7754 Lakeside Blvd #483 Boca Raton, FL	2.0	2.0	1050	$2,700	$2.57	3d	1	1.17mi
7754 Lakeside Blvd #446 Boca Raton, FL	2.0	2.0	1050	$3,500	$3.33	25d	1	1.17mi
7835 Lakeside Blvd #946 Boca Raton, FL	2.0	2.0	1050	$3,800	$3.62	6d	1	1.17mi
21890 Lake Forest Cir #101 Boca Raton, FL	2.0	2.0	858	$2,200	$2.56	25d	1	1.17mi
21911 Lake Forest Cir Boca Raton, FL	2.0	2.0	858	$2,150	$2.51	0d	2	1.21mi
21911 Lake Forest Cir Boca Raton, FL	2.0	2.0	858	$2,150	$2.51	4d	2	1.21mi
7738 Lakeside Blvd #373 Boca Raton, FL	2.0	2.0	1050	$2,200	$2.10	25d	1	1.22mi
82 Fanshaw Dr Unit 82 Boca Raton, FL	1.0	1.5	702	$1,250	$1.78	25d	1	1.24mi
67 Fanshaw Dr Unit 670 Boca Raton, FL	2.0	1.5	835	$1,750	$2.10	16d	1	1.27mi
57 Dorset B Boca Raton, FL	2.0	1.5	840	$1,600	$1.90	25d	1	1.28mi
32 Fanshaw Dr Unit 32 Boca Raton, FL	2.0	1.5	819	$1,975	$2.41	12d	1	1.30mi
186 Dorset E Boca Raton, FL	2.0	1.5	835	$1,550	$1.86	25d	1	1.31mi
170 Dorset E Boca Raton, FL	2.0	1.5	835	$1,525	$1.83	25d	1	1.31mi
52 Dorset B Boca Raton, FL	2.0	1.5	840	$1,575	$1.88	20d	1	1.31mi
33 Fanshaw Dr Unit 33 Boca Raton, FL	2.0	1.5	835	$1,975	$2.37	25d	1	1.32mi
119 Dorset Dr Unit 119 Boca Raton, FL	1.0	1.0	600	$1,400	$2.33	25d	1	1.32mi
117 Brighton Dr Unit 117 Boca Raton, FL	2.0	1.5	840	$2,500	$2.98	25d	1	1.34mi
10235 Entrada Pl Boca Raton, FL	1.0–3.0	1.0–2.0	952	$2,358	$2.48	0d	28	1.34mi
257 Fanshaw Way Unit 257 Boca Raton, FL	2.0	1.5	819	$1,750	$2.14	25d	1	1.35mi
257 Fanshaw Way Unit 257 Boca Raton, FL	2.0	1.5	819	$1,700	$2.08	4d	1	1.35mi
8 Fanshaw Dr Unit 8 Boca Raton, FL	1.0	1.0	585	$1,300	$2.22	8d	1	1.36mi
4078 Exeter Unit E Boca Raton, FL	2.0	1.5	861	$1,475	$1.71	4d	1	1.39mi
20940 Uptown Ave Boca Raton, FL	1.0–4.0	1.0–3.0	1227	$3,331	$2.71	0d	49	1.40mi
445 Fanshaw N Boca Raton, FL	2.0	1.5	819	$1,575	$1.92	25d	1	1.40mi
445 Fanshaw N Boca Raton, FL	2.0	1.5	819	$1,550	$1.89	8d	1	1.40mi
321 Dorset Dr Boca Raton, FL	1.0	1.5	720	$1,590	$2.21	25d	1	1.42mi
108 Fanshaw C Boca Raton, FL	2.0	1.5	924	$1,700	$1.84	25d	1	1.42mi
96 Fanshaw C Boca Raton, FL	1.0	1.5	702	$1,500	$2.14	0d	1	1.42mi
251 Fanshaw F Boca Raton, FL	2.0	1.5	819	$1,450	$1.77	17d	1	1.42mi
454 Fanshaw K Unit K Boca Raton, FL	1.0	1.5	715	$1,500	$2.10	16d	1	1.42mi
449 Fanshaw K #449 Boca Raton, FL	2.0	1.5	819	$1,850	$2.26	20d	1	1.42mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $169,900 Active 41 DOM
2. 2026-06-18
   days on market $169,900 Active 38 DOM
3. 2026-06-17
   days on market $169,900 Active 37 DOM
4. 2026-06-16
   days on market $169,900 Active 36 DOM
5. 2026-06-15
   days on market $169,900 Active 35 DOM
6. 2026-06-13
   days on market $169,900 Active 33 DOM
7. 2026-06-09
   days on market $169,900 Active 29 DOM
8. 2026-06-08
   days on market $169,900 Active 28 DOM
9. 2026-06-07
   days on market $169,900 Active 27 DOM
10. 2026-06-04
    days on market $169,900 Active 24 DOM
11. 2026-06-03
    days on market $169,900 Active 23 DOM
12. 2026-06-02
    days on market $169,900 Active 22 DOM
13. 2026-06-01
    days on market $169,900 Active 21 DOM
14. 2026-05-31
    days on market $169,900 Active 20 DOM
15. 2026-05-11
    listed $169,900 Active
16. 1999-03-05
    soldstatus $40,000 228-char remark

    Show marketing remark (228 chars)

    RETIRE IN THE PEACEFULL SETTING OF WEST LAKES AT BOCA RATON, THE PREMIER 55 & OVER ADULT HOME PARK.LOVELY CANAL VIEWS,SPACIOUS DOUBLE WIDE MANF.HOME IDEAL FOR FULL TIME OR PART TIME LIVING,GREAT CLUBHOUSE AMMENTIES,SOLD FURN

17. 1999-02-17
    historical 228-char remark

    Show marketing remark (228 chars)

    RETIRE IN THE PEACEFULL SETTING OF WEST LAKES AT BOCA RATON, THE PREMIER 55 & OVER ADULT HOME PARK.LOVELY CANAL VIEWS,SPACIOUS DOUBLE WIDE MANF.HOME IDEAL FOR FULL TIME OR PART TIME LIVING,GREAT CLUBHOUSE AMMENTIES,SOLD FURN

18. 1998-11-05
    listed $45,000 228-char remark

    Show marketing remark (228 chars)

    RETIRE IN THE PEACEFULL SETTING OF WEST LAKES AT BOCA RATON, THE PREMIER 55 & OVER ADULT HOME PARK.LOVELY CANAL VIEWS,SPACIOUS DOUBLE WIDE MANF.HOME IDEAL FOR FULL TIME OR PART TIME LIVING,GREAT CLUBHOUSE AMMENTIES,SOLD FURN

ⓘ 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: $650 · $54/mo
• Projected year-2 tax: $1,410 · $118/mo
• Expected delta: +$760/yr (+$63/mo · 116.9%)

ⓘ 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 7 d/yr ≥107°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,700
• − Mortgage interest: −$9,517
• − Property taxes: −$650
• − Insurance: −$850
• − Repairs & maintenance: −$2,136
• − Management: −$2,136
• − HOA: −$3,000
• − Depreciation: −$4,943
• Taxable income: $3,469
• Est. tax owed @ 24.0%: −$833
• After-tax cash flow: $5,069/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

• County: Palm Beach County · 1,438,312 people
• City population: 250,102
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 47,005
• Household income: $84,091
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 2900.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 18% Two or more races 15% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 2% Dominican 1%
• Common ancestry: Romanian 6% Scotch-Irish 5% Russian 3%
• Foreign-born: 27% · Canada, Jamaica, China
• Languages at home: 65% English-only · Spanish 15% Other Indo-European 10% Russian/Polish/Slavic 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: ▼ -227.85%
• Current HPI: 306.738
• Rent YoY: ▲ 0.33%
• 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

+277.6% since first listed

4 events — show timeline

• 2026-05-11 Listed $169,900 Beaches MLS
• 1999-03-05 Sold (MLS) $40,000 Beaches MLS
• 1999-02-17 Listing Removed — Beaches MLS
• 1998-11-05 Listed $45,000 Beaches MLS

Property tax history

-2.6%/yr

Latest (2025): $650 · +5.2% YoY. Source: county tax records.