5260 NW 2nd Ave #504 · Boca Raton, FL 33487

$204,500

2 bd · 2.0 ba · 1,090 sqft · Condo · 102 Days on market

Built 1983 $725/mo HOA · 26% 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 +15.0/30.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Penthouse in one of the best locations in East Boca Raton - minutes from Boca's beautiful beaches, world class oceanfront parks, blocks from I-95 and Yamato Road, commuter trains Brightline, Tri Rail connect to Palm Beach, Fort Lauderdale, Miami. Universities, Medical facilities, Grade A. Sunlit balcony overlooking pickleball/tennis courts. Split 2 bedroom 2 baths. Eat in Kitchen. Washer and Dryer. Spacious living and dining room. Expansive master bedroom and bathroom with Roman Tub and Bidet. HOA fees include insurance, internet, cable, water, landscaping, pest control. Olympic sized heated pool, canopy covered gazebo and BBQ. North Park Boca Raton, a 212-acre park surrounding this communi

Key facts

• Washer and dryer
• Eat in kitchen
• Roman tub

Tags

• WASHER AND DRYER
• EAT IN KITCHEN
• ROMAN TUB
• HURRICANE SHUTTERS
• OVERSIZED HEATED POOL
• TENNIS COURTS

Property features AI

Finance

• Other: Directions: Yamato Road to NW 2nd Ave, turn north, first right into the parking lot and follow to the entrance with a light blue awning
• Financial info: Pets allowed (with number limit)
• HOA & community: Association: Palms of Boca Teeca; Monthly HOA fee (approx.): $985; HOA covers insurance, grounds maintenance, pest control, sewer, trash, water, common areas, elevator, legal/accounting, reserves, pool service; Association amenities include heated pool, pool, tennis courts, pickleball courts, community room, lobby, kitchen facilities, bike storage, car wash area, picnic area, on-site manager, parking, trash chute, internet included, maintained community

Exterior

• Parking: Assigned and guest parking (multiple spaces available)
• Security: Closed-circuit cameras; Fire alarm; Smoke detectors; Security system; Entry phone/intercom
• Utilities: Public water; Public sewer; Circuit breaker electric service; Cable available
• Home design: Condominium; 5-story building; Faces east
• Construction: Block/CBS construction; Concrete roof; Building listed as resale
• Exterior features: Not waterfront; Accessible approach with ramp

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Disposal; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Entrance foyer; Walk-in closets; Split bedroom layout; Roman tub
• Laundry & utility: In-unit laundry in a laundry closet (inside)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $204k.

Deal economics

• At list price, monthly cash flow is $63 ($757/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $204k).
• Recommended offer: $186k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.7% 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: Blue Lake Elementary (731 students, 18% 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) — zoned schools average 29% FRL vs 52% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.6%/yr); 338 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 35% of the median local income ($96k/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 $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 102 days — a 9% lower offer ($186k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• 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 $186,095 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 1.36% ✓
• Cap rate: 6.66%
• Cash-on-cash: 1.32%
• DSCR: 1.06
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.58% rent growth · sell at horizon

5-year hold

• IRR: -12.9%
• Equity multiple: 0.53×
• Total profit: $-26,997
• Equity at exit: $30,492

10-year hold

• IRR: -2.4%
• Equity multiple: 0.83×
• Total profit: $-9,562
• Equity at exit: $17,681

Cash invested: $57,260 (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 33487

• Rents YoY: 3.6%
• Active inventory: 338
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,787 high
• Mortgage (P&I): −$1,072
• Tax est. 1.5%: −$256 /mo · $3,068/yr
• Insurance: −$85
• HOA: −$725
• Vacancy / Maint / Mgmt: −$585
• Net cashflow: $63

Break-even live

Break-even rent $2,707

Max offer price $204,500

Occupancy floor 93%

Sensitivity live

Price	-10% $204	-5% $134	+0% $63	+5% $-8	+10% $-78
Rent	-10% $-157	-5% $-47	+0% $63	+5% $173	+10% $283
Rate	-1.0pp $166	-0.5pp $115	base $63	+0.5pp $10	+1.0pp $-44

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: $51,125
• Closing costs: $6,135
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5200 E Club Cir Boca Raton, FL	2.0	2.0	1200	$2,224	$1.85	25d	2	0.07mi
5340 NW 2nd Ave #226 Boca Raton, FL	2.0	2.0	1316	$3,500	$2.66	25d	1	0.08mi
5121 Sabal Gardens Ln #2 Boca Raton, FL	2.0	2.5	1456	$3,200	$2.20	25d	1	0.10mi
301 Club Cir #208 Boca Raton, FL	2.0	2.0	1200	$2,300	$1.92	0d	1	0.12mi
400 Club Cir Boca Raton, FL	2.0	2.0	1200	$2,900	$2.42	25d	1	0.13mi
5301 NW 2nd Ave #1010 Boca Raton, FL	2.0	2.0	1300	$2,800	$2.15	25d	1	0.13mi
5301 NW 2nd Ave Apt 307 Boca Raton, FL	2.0	2.0	1300	$2,900	$2.23	25d	1	0.13mi
5301 NW 2nd Ave Boca Raton, FL	2.0	2.0–2.5	1300	$2,640	$2.03	6d	2	0.14mi
5301 NW 2nd Ave Boca Raton, FL	2.0	2.0–2.5	1300	$2,698	$2.08	8d	2	0.14mi
350 Club Cir #208 Boca Raton, FL	2.0	2.0	1200	$2,450	$2.04	8d	1	0.14mi
400 Club Cir #101 Boca Raton, FL	2.0	2.0	1200	$2,800	$2.33	3d	1	0.14mi
299 NW 52nd Ter Unit PHX Boca Raton, FL	2.0	2.0	1300	$3,000	$2.31	8d	1	0.16mi
299 NW 52nd Ter Unit X Boca Raton, FL	2.0	2.0	1300	$3,000	$2.31	25d	1	0.16mi
351 Club Cir #208 Boca Raton, FL	2.0	2.0	1200	$2,600	$2.17	0d	1	0.17mi
5500 NW 2nd Ave #514 Boca Raton, FL	3.0	2.0	1200	$2,900	$2.42	16d	1	0.17mi
5151 W Club Cir #206 Boca Raton, FL	2.0	2.0	1200	$2,500	$2.08	15d	1	0.21mi
5501 NW 2nd Ave Unit 111 Boca Raton, FL	1.0	1.5	850	$1,700	$2.00	19d	1	0.22mi
5501 NW 2nd Ave #2130 Boca Raton, FL	2.0	2.0	850	$1,599	$1.88	8d	1	0.22mi
5501 NW 2nd Ave Unit 111 Boca Raton, FL	1.0	1.5	850	$1,700	$2.00	8d	1	0.22mi
5700 NW 2nd Ave Boca Raton, FL	2.0–3.0	2.0	1125	$2,200	$1.96	0d	4	0.22mi
5700 NW 2nd Ave Boca Raton, FL	2.0	2.0	1125	$2,162	$1.92	21d	4	0.22mi
5501 NW 2nd Ave Boca Raton, FL	1.0–2.0	1.5–2.0	925	$2,500	$2.70	6d	3	0.23mi
5701 NW 2nd Ave #1140 Boca Raton, FL	2.0	2.0	1000	$2,350	$2.35	0d	1	0.31mi
500 NW 53rd St Boca Raton, FL	2.0	2.0	1320	$3,000	$2.27	25d	1	0.36mi
4850 NE 5th Ave Boca Raton, FL	3.0	1.0–2.0	700	$2,217	$3.17	0d	3	0.37mi
516 NW 54th St Unit 516 Boca Raton, FL	3.0	2.0	1415	$4,850	$3.43	19d	1	0.38mi
516 NW 54th St Boca Raton, FL	3.0	2.0	1415	$4,650	$3.29	11d	1	0.38mi
516 NW 54th St Boca Raton, FL	3.0	2.0	1415	$4,550	$3.22	21d	1	0.38mi
541 NE 48th St Unit 203 Boca Raton, FL	1.0	1.0	700	$1,750	$2.50	4d	1	0.39mi
518 NE 48th St Boca Raton, FL	2.0	2.0	1350	$3,250	$2.41	25d	1	0.41mi
518 NE 48th St Unit 518 Boca Raton, FL	2.0	2.0	1350	$3,250	$2.41	16d	1	0.41mi
564 NW 55th St Boca Raton, FL	2.0	2.0	1385	$3,200	$2.31	25d	1	0.45mi
530 NE 47th St Boca Raton, FL	2.0	1.0–2.0	670	$2,124	$3.17	4d	4	0.46mi
6000 NW 2nd Ave #437 Boca Raton, FL	2.0	2.0	1300	$2,500	$1.92	16d	1	0.48mi
560 NE 46th St Unit 8 Boca Raton, FL	1.0	1.0	900	$1,800	$2.00	25d	1	0.52mi
5961 NW 2nd Ave Apt 108 Boca Raton, FL	2.0	2.0	1050	$2,400	$2.29	8d	1	0.54mi
6080 Dixie Hwy Rm 3 Boca Raton, FL	1.0	1.0	800	$1,100	$1.38	25d	1	0.56mi
520 NE 44th St Boca Raton, FL	1.0	1.0	800	$1,800	$2.25	23d	1	0.58mi
6161 NW 2nd Ave Unit 520 Boca Raton, FL	2.0	2.0	1200	$2,195	$1.83	25d	1	0.60mi
6161 NW 2nd Ave Boca Raton, FL	2.0	2.0	1200	$2,200	$1.83	0d	1	0.60mi

HOA detail condo

• Monthly dues: $725 · $8,700/yr
• Likely covers: waterinternetcablelandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-21
   days on market $204,500 Active 102 DOM
2. 2026-06-18
   days on market $204,500 Active 99 DOM
3. 2026-06-17
   days on market $204,500 Active 98 DOM
4. 2026-06-16
   days on market $204,500 Active 97 DOM
5. 2026-06-15
   days on market $204,500 Active 96 DOM
6. 2026-06-13
   days on market $204,500 Active 94 DOM
7. 2026-06-09
   days on market $204,500 Active 90 DOM
8. 2026-06-08
   days on market $204,500 Active 89 DOM
9. 2026-06-07
   days on market $204,500 Active 88 DOM
10. 2026-06-04
    days on market $204,500 Active 85 DOM
11. 2026-06-03
    days on market $204,500 Active 84 DOM
12. 2026-06-02
    days on market $204,500 Active 83 DOM
13. 2026-06-01
    days on market $204,500 Active 82 DOM
14. 2026-05-31
    days on market $204,500 Active 81 DOM
15. 2026-03-02
    listed $204,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥106°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,438
• − Mortgage interest: −$11,455
• − Property taxes: −$3,068
• − Insurance: −$1,022
• − Repairs & maintenance: −$2,675
• − Management: −$2,675
• − HOA: −$8,700
• − Depreciation: −$5,949
• Taxable loss: −$2,106
• Est. tax savings @ 24.0%: +$505
• After-tax cash flow: $1,263/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): 20,717
• Household income: $96,066
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 896.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 13% Two or more races 11% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 1%
• Common ancestry: Romanian 7% Scotch-Irish 5% Lithuanian 2%
• Foreign-born: 21% · Canada, Jamaica, China
• Languages at home: 77% English-only · Spanish 10% Other Indo-European 4% 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: ▼ -331.59%
• Current HPI: 352.5852
• Rent YoY: ▲ 3.58%
• 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

1 event — show timeline

• 2026-03-02 Listed $204,500 Beaches MLS