5155 Europa Dr Unit U · Boynton Beach, FL 33437

$269,000

3 bd · 2.0 ba · 1,115 sqft · Condo public records · 60 Days on market

Built 1993

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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
• 1% rule +5.3/10.0
• Appreciation +4.9/10.0
• Cash flow +4.4/30.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks

Beautifully renovated 3-bedroom penthouse in the highly sought-after Platina community, offering the perfect blend of luxury, comfort, and lifestyle. This top-floor residence features soaring ceilings and an open-concept living and dining area filled with natural light, creating a bright and spacious feel throughout. The updated interior includes modern finishes and a well-designed layout ideal for both everyday living and entertaining. Enjoy breathtaking lake views from your private balcony—perfect for morning coffee or unwinding at sunset—with the same serene scenery visible from all bedrooms. The expansive primary suite offers a true retreat with generous space and a beautifu

Key facts

• Gated community
• Renovated penthouse
• Private balcony

Tags

• RENOVATED PENTHOUSE
• OPEN-CONCEPT LIVING
• PRIVATE BALCONY
• BREATHTAKING LAKE VIEWS
• GATED COMMUNITY
• 24-HOUR GUARD-SECURED

Property features AI

Finance

• Other: Association-maintained heated pool
• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association fee covers amenities, common areas, cable TV, grounds maintenance, parking, pest control, pool(s), security, and trash; Community amenities include cabana, clubhouse, community kitchen, fitness center, hobby room, pickleball, pool, tennis courts, and elevators

Exterior

• Parking: One parking space
• Security: Security guard; Smoke detectors
• Utilities: Cable available
• Home design: Attached property; 3 stories; Entry on third floor
• Construction: Block construction; Resale property
• Exterior features: Balcony; Glass-enclosed balcony; Porch; Screened porch; Has view; Complex fenced; Exterior lighting

Interior

• Kitchen: Built-in oven; Electric range; Microwave; Dishwasher; Refrigerator
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds on windows; Eat-in kitchen; Combined family and dining area; Tub with shower; Elevator access; Third-floor entry
• Laundry & utility: Washer hookup; Dryer hookup; Washer; Dryer; Utility room; Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $269k.

Deal economics

• At list price, monthly cash flow is $-705 ($-8k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $269k).
• Recommended offer: $261k (3.0% below list) — sets the bar for market timing.
• Cap rate 3.1% vs local median 4.3% in Boynton Beach — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Rents rising (+1.3%/yr); 479 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 41% of the median local income ($81k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $1k of equity ($2k loan paydown + $-650 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 60 days — a 3% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask is 9507% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $154k; list at $269k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $260,930 (3.0% 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 60 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.03% ✓
• Cap rate: 3.15%
• Cash-on-cash: -11.24%
• DSCR: 0.50
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.24% appreciation · 1.28% rent growth · sell at horizon

5-year hold

• IRR: -17.8%
• Equity multiple: 0.20×
• Total profit: $-59,882
• Equity at exit: $74,874

10-year hold

• IRR: -13.1%
• Equity multiple: -0.25×
• Total profit: $-94,071
• Equity at exit: $87,460

Cash invested: $75,320 (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 33437

• Home prices YoY: -0.1%
• Rents YoY: 1.3%
• Active inventory: 479
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,778 high
• Mortgage (P&I): −$1,411
• Tax from tax record: −$307 /mo · $3,689/yr
• Insurance: −$112
• HOA est. from 2 same-building comps: −$1,070
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $-705

Break-even live

Break-even rent $3,671

Max offer price $144,390

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5155 Europa Dr Unit J Boynton Beach, FL	3.0	2.0	1333	$2,750	$2.06	24d	1	0.02mi
5157 Floria Way Unit J Boynton Beach, FL	3.0	2.0	1447	$3,300	$2.28	24d	1	0.14mi
5133 Brisata Cir Unit P Boynton Beach, FL	3.0	2.0	1374	$2,800	$2.04	24d	1	0.20mi
9498 S Military Trl #5 Boynton Beach, FL	3.0	2.5	1317	$2,900	$2.20	24d	1	0.24mi
5373 Mirror Lakes Blvd Boynton Beach, FL	3.0	2.0	1310	$2,100	$1.60	24d	1	0.33mi
5418 Firenze Dr Unit P Boynton Beach, FL	2.0	2.0	1139	$2,400	$2.11	2d	1	0.34mi
5275 Europa Dr Unit I Boynton Beach, FL	3.0	2.0	1282	$2,500	$1.95	1d	1	0.34mi
9935 Pineapple Tree Dr #202 Boynton Beach, FL	2.0	2.0	1008	$2,575	$2.55	14d	1	0.45mi
9900 Pineapple Tree Dr #106 Boynton Beach, FL	2.0	2.0	1008	$2,250	$2.23	24d	1	0.49mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,839	$2.79	1d	19	0.66mi
10187 Mangrove Dr #104 Boynton Beach, FL	2.0	2.0	1260	$2,350	$1.87	24d	1	0.66mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$3,000	$2.39	24d	1	0.67mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$2,950	$2.35	1d	1	0.67mi
4525 Nutmeg Tree Ln Unit A Boynton Beach, FL	2.0	2.0	1404	$3,000	$2.14	24d	1	0.72mi
5217 Cedar Lake Rd Boynton Beach, FL	1.0–3.0	1.0–2.0	1030	$2,811	$2.73	1d	51	0.74mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,394	$2.39	2d	1	0.74mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,346	$2.34	13d	1	0.74mi
10423 Boynton Place Cir Boynton Beach, FL	2.0	1.0	861	$2,200	$2.56	18d	1	0.75mi
10423 Boynton Place Cir Boynton Beach, FL	2.0	1.0	861	$2,200	$2.56	7d	1	0.75mi
4944 Equestrian Cir Unit A Boynton Beach, FL	2.0	2.0	1400	$2,500	$1.79	7d	1	0.78mi
5724 Boynton Cres Boynton Beach, FL	2.0	1.0	861	$2,300	$2.67	24d	1	0.87mi
5895 Autumn Lake Ln Unit A Boynton Beach, FL	3.0	2.0	1469	$2,600	$1.77	24d	1	0.92mi
10592 Tropic Palm Ave #202 Boynton Beach, FL	2.0	2.0	1385	$2,450	$1.77	24d	1	1.01mi
10624 Tropic Palm Ave #202 Boynton Beach, FL	3.0	2.0	1385	$2,550	$1.84	24d	1	1.04mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,315	$1.93	3d	1	1.10mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,267	$1.89	22d	1	1.10mi
5537 Pebble Brook Ln Boynton Beach, FL	3.0	2.0	1166	$2,825	$2.42	14d	1	1.16mi
9926 Watermill Cir Unit F Boynton Beach, FL	3.0	2.0	1471	$2,400	$1.63	24d	1	1.18mi
8949 Oak St Boynton Beach, FL	2.0	2.0	1040	$1,300	$1.25	24d	1	1.18mi
9746 Nickels Blvd Boynton Beach, FL	2.0	2.0	1215	$2,800	$2.30	24d	1	1.46mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $269,000 Active 60 DOM
2. 2026-06-17
   days on market $269,000 Active 59 DOM
3. 2026-06-16
   days on market $269,000 Active 58 DOM
4. 2026-06-15
   days on market $269,000 Active 57 DOM
5. 2026-06-13
   days on market $269,000 Active 55 DOM
6. 2026-06-09
   days on market $269,000 Active 51 DOM
7. 2026-06-08
   days on market $269,000 Active 50 DOM
8. 2026-06-07
   days on market $269,000 Active 49 DOM
9. 2026-06-04
   days on market $269,000 Active 46 DOM
10. 2026-06-03
    days on market $269,000 Active 45 DOM
11. 2026-06-02
    days on market $269,000 Active 44 DOM
12. 2026-06-01
    days on market $269,000 Active 43 DOM
13. 2026-05-31
    days on market $269,000 Active 42 DOM
14. 2026-04-21
    listed $2,800
15. 2026-04-17
    listed $269,000 Active
16. 2025-12-31
    historical
17. 2025-11-12
    price $295,000
18. 2025-04-19
    listed $305,000 Active
19. 2024-10-31
    historical
20. 2024-06-10
    price $325,000
21. 2024-04-10
    listed $350,000 Active
22. 2024-03-07
    historical
23. 2024-01-23
    listed $350,000 Active
24. 2020-05-05
    soldstatus $154,000
25. 2012-01-12
    soldstatus $120,000
26. 1994-06-14
    soldstatus $101,000
27. 1993-10-27
    soldstatus $92,900

ⓘ 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: $3,689 · $307/mo
• Projected year-2 tax: $3,689 · $307/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 7 d/yr ≥106°F today · 23 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,339
• − Mortgage interest: −$15,068
• − Property taxes: −$3,689
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,667
• − Management: −$2,667
• − HOA: −$12,840
• − Depreciation: −$7,825
• Taxable loss: −$12,763
• Est. tax savings @ 24.0%: +$3,063
• After-tax cash flow: $-5,401/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

• County: Palm Beach County · 1,438,312 people
• City population: 148,060
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 37,229
• Household income: $80,710
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 902.0

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% Two or more races 13% Hispanic / Latino 12% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1% Dominican 1%
• Common ancestry: Scotch-Irish 8% Romanian 8% Hispanic 6%
• Foreign-born: 18% · Canada, Jamaica, Vietnam
• Languages at home: 78% English-only · Spanish 10% French/Haitian/Cajun 6% 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: ▼ -0.24%
• Current HPI: 257.5891
• Rent YoY: ▲ 1.28%
• 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

-97.0% since first listed

14 events — show timeline

• 2026-04-21 Listed for Rent $2,800 MARMLS
• 2026-04-17 Listed $269,000 MARMLS
• 2025-12-31 Listing Removed — Beaches MLS
• 2025-11-12 Price Changed $295,000 Beaches MLS
• 2025-04-19 Listed $305,000 Beaches MLS
• 2024-10-31 Listing Removed — Beaches MLS
• 2024-06-10 Price Changed $325,000 Beaches MLS
• 2024-04-10 Listed $350,000 Beaches MLS
• 2024-03-07 Listing Removed — Beaches MLS
• 2024-01-23 Listed $350,000 Beaches MLS
• 2020-05-05 Sold (Public Records) $154,000 Public Records
• 2012-01-12 Sold (Public Records) $120,000 Public Records
• 1994-06-14 Sold (Public Records) $101,000 Public Records
• 1993-10-27 Sold (Public Records) $92,900 Public Records

Property tax history

+7.7%/yr

Latest (2025): $3,689 · +0.4% YoY. Source: county tax records.