638 Snug Harbor Dr Unit E6 · Boynton Beach, FL 33435

$139,900

1 bd · 1.0 ba · 731 sqft · Condo public records · 26 Days on market

Built 1971 $550/mo HOA · 28% 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 +15.4/30.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• 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 MLS

Beautiful updated modern Condo. Located in wellmaintained intercostal community. Snug Harbor offers a awesome pool, on site manager and low Condo fees. Close to shopping, Beaches and downtown Delray Beach. Great for year round or as a seasonal get-away.

Key facts

• Remodeled bathroom
• Granite counters
• Open kitchen

Tags

• OPEN KITCHEN
• SOFT CLOSE SHAKER CABINETS
• GRANITE COUNTERS
• SUB-ZERO FRIDGE/FREEZER
• CONVECTION OVEN
• REMODELED BATHROOM

Property features AI

Finance

• Other: Senior community; Directions available to property
• Financial info: No land lease; Pets not allowed
• HOA & community: Community association: Snug Harbor Gardens; HOA fee $550 monthly; HOA covers internet, grounds maintenance, sewer, trash, water, common areas, reserve funds, and pool service; Community amenities include heated pool, pool, spa/hot tub, clubhouse, fitness center, billiard room, shuffleboard court, car wash area, fishing pier, manager on site, community room, kitchen facilities, library, internet included, and management

Exterior

• Parking: Assigned parking; Deeded parking; Guest parking; Total 1 parking space
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable connected
• Home design: Condominium; One level (entry-level living); Faces east; Resale
• Construction: Built with CBS construction materials; Composition shingle roof; 2-story building; Built area recorded in public records
• Exterior features: Non-waterfront; Entry-level living area

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Ceramic tile; Laminate
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central heating; Central air
• Interior features: Walk-in closet(s); Closet cabinetry; Furnished; Blinds; Storm windows; Smoke detector(s)
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $54 ($648/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.8% 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: Forest Park Elementary School (math 42% / reading 38%, grade F, #1,491 of 2,144 statewide, top 70%, 571 students, 81% 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 73% FRL vs 52% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 50% district-wide (-22 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); 536 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $967 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 26 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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 $74k; list at $140k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,801 (1.5% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.42% ✓
• Cap rate: 6.76%
• Cash-on-cash: 1.66%
• DSCR: 1.07
• GRM: 5.9

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: -12.3%
• Equity multiple: 0.55×
• Total profit: $-17,572
• Equity at exit: $20,860

10-year hold

• IRR: -1.4%
• Equity multiple: 0.90×
• Total profit: $-4,017
• Equity at exit: $12,096

Cash invested: $39,172 (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: 536
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,988 high
• Mortgage (P&I): −$734
• Tax from tax record: −$175 /mo · $2,099/yr
• Insurance: −$58
• HOA: −$550
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $54

Break-even live

Break-even rent $1,920

Max offer price $139,900

Occupancy floor 92%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
640 Snug Harbor Dr Unit F3 Boynton Beach, FL	1.0	1.0	629	$2,500	$3.97	10d	1	0.02mi
638 Snug Harbor Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	747	$1,600	$2.14	24d	2	0.02mi
1001 S Federal Hwy Unit 3 Boynton Beach, FL	1.0	1.0	650	$1,995	$3.07	24d	1	0.25mi
5505 N Ocean Blvd Ocean Ridge, FL	1.0–2.0	1.0–2.0	774	$1,950	$2.52	10d	3	0.32mi
800 Horizons W #211 Boynton Beach, FL	1.0	1.0	570	$1,650	$2.89	14d	1	0.36mi
850 Horizons E #309 Boynton Beach, FL	1.0	1.5	646	$1,990	$3.08	20d	1	0.36mi
515 SE 20th Ave Boynton Beach, FL	2.0	1.0	787	$1,689	$2.14	7d	3	0.43mi
650 Horizons E #107 Boynton Beach, FL	1.0	1.0	570	$1,600	$2.81	24d	1	0.44mi
620 Horizons W #207 Boynton Beach, FL	1.0	1.0	570	$1,200	$2.11	24d	1	0.44mi
405 SE 20th Ave Unit 5F Boynton Beach, FL	—	1.0	600	$1,489	$2.48	21d	1	0.47mi
22 Oceanview Dr Ocean Ridge, FL	1.0	1.0	620	$3,500	$5.65	24d	1	0.53mi
1407 Tuscany Way #1407 Boynton Beach, FL	1.0	1.0	721	$2,100	$2.91	2d	1	0.56mi
2303 S Federal Hwy #19 Boynton Beach, FL	1.0	1.0	615	$1,450	$2.36	5d	1	0.57mi
2412 Tuscany Way Boynton Beach, FL	1.0	1.0	750	$3,000	$4.00	24d	1	0.58mi
240 Horizons W #108 Boynton Beach, FL	1.0	1.5	646	$1,600	$2.48	24d	1	0.60mi
2301 SE 4th St Unit 15 Boynton Beach, FL	1.0	1.0	573	$1,545	$2.70	24d	1	0.60mi
2301 SE 4th St #11 Boynton Beach, FL	1.0	1.0	573	$1,595	$2.78	24d	1	0.60mi
207 SE 4th Ave Boynton Beach, FL	1.0	1.0	650	$1,795	$2.76	1d	1	0.62mi
21 Ruthmary Ave Unit G Briny Breezes, FL	1.0	1.0	396	$2,850	$7.20	24d	1	0.65mi
640 SE 2nd Ave Unit 111 Boynton Beach, FL	1.0	1.0	650	$1,720	$2.65	2d	1	0.66mi
101 S Federal Hwy Boynton Beach, FL	1.0–2.0	1.0–2.0	969	$2,012	$2.08	1d	17	0.70mi
4603 N Ocean Blvd Unit 1018163P Boynton Beach, FL	2.0	1.0	581	$2,573	$4.43	21d	1	0.70mi
205 Coral Rd Unit 1 Boynton Beach, FL	1.0	1.0	500	$2,300	$4.60	24d	1	0.74mi
100 NE 6th St Boynton Beach, FL	1.0	1.0	745	$2,975	$3.99	19d	3	0.79mi
100 NE 6th St Boynton Beach, FL	1.0	1.0	745	$2,975	$3.99	11d	3	0.79mi
115 SW 1st Ave Boynton Beach, FL	1.0–2.0	1.0–2.0	804	$1,875	$2.33	14d	2	0.87mi
400 N Federal Hwy Unit N304 Boynton Beach, FL	1.0	1.0	640	$2,400	$3.75	24d	1	0.95mi
518 NE 4th St Unit A Boynton Beach, FL	1.0	1.0	500	$1,700	$3.40	15d	1	1.05mi
3851 N Ocean Blvd Gulf Stream, FL	1.0–2.0	1.0	677	$2,900	$4.28	24d	4	1.14mi
6520 N Ocean Blvd Apt 3 Ocean Ridge, FL	1.0	1.0	702	$3,500	$4.99	24d	1	1.15mi
6520 N Ocean Blvd Ocean Ridge, FL	1.0–2.0	1.0	776	$2,400	$3.09	11d	1	1.15mi
689 NE 6th Ct #4070 Boynton Beach, FL	1.0	1.0	703	$1,900	$2.70	17d	1	1.17mi
689 NE 6th Ct #404 Boynton Beach, FL	1.0	1.0	703	$2,000	$2.84	24d	1	1.17mi
615 NE 7th Ave Boynton Beach, FL	1.0	1.0	698	$1,699	$2.43	17d	1	1.22mi
2861 S Seacrest Blvd Boynton Beach, FL	1.0	1.0	710	$1,680	$2.37	2d	3	1.28mi
717 NE 10th Ave Unit 6 Boynton Beach, FL	1.0	1.0	700	$1,600	$2.29	7d	1	1.40mi
656 Manor Dr Unit 3 Boynton Beach, FL	—	1.0	650	$1,600	$2.46	21d	1	1.45mi

HOA detail condo

• Monthly dues: $550 · $6,600/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-18
   days on market $139,900 Active 26 DOM
2. 2026-06-17
   days on market $139,900 Active 25 DOM
3. 2026-06-16
   days on market $139,900 Active 24 DOM
4. 2026-06-15
   days on market $139,900 Active 23 DOM
5. 2026-06-13
   days on market $139,900 Active 21 DOM
6. 2026-06-09
   days on market $139,900 Active 17 DOM
7. 2026-06-08
   days on market $139,900 Active 16 DOM
8. 2026-06-07
   days on market $139,900 Active 15 DOM
9. 2026-06-04
   days on market $139,900 Active 12 DOM
10. 2026-06-03
    days on market $139,900 Active 11 DOM
11. 2026-06-02
    days on market $139,900 Active 10 DOM
12. 2026-06-01
    days on market $139,900 Active 9 DOM
13. 2026-05-31
    days on market $139,900 Active 8 DOM
14. 2026-05-23
    listed $139,900 Active
15. 2017-01-27
    soldstatus $74,000
16. 2017-01-25
    soldstatus $74,000 Closed 254-char remark

    Show marketing remark (254 chars)

    Beautiful updated modern Condo. Located in wellmaintained intercostal community. Snug Harbor offers a awesome pool, on site manager and low Condo fees. Close to shopping, Beaches and downtown Delray Beach. Great for year round or as a seasonal get-away.

17. 2016-12-12
    status Pending 254-char remark

    Show marketing remark (254 chars)

    Beautiful updated modern Condo. Located in wellmaintained intercostal community. Snug Harbor offers a awesome pool, on site manager and low Condo fees. Close to shopping, Beaches and downtown Delray Beach. Great for year round or as a seasonal get-away.

18. 2016-09-16
    price $84,900 254-char remark

    Show marketing remark (254 chars)

    Beautiful updated modern Condo. Located in wellmaintained intercostal community. Snug Harbor offers a awesome pool, on site manager and low Condo fees. Close to shopping, Beaches and downtown Delray Beach. Great for year round or as a seasonal get-away.

19. 2016-07-15
    listed $89,900 Active 254-char remark

    Show marketing remark (254 chars)

    Beautiful updated modern Condo. Located in wellmaintained intercostal community. Snug Harbor offers a awesome pool, on site manager and low Condo fees. Close to shopping, Beaches and downtown Delray Beach. Great for year round or as a seasonal get-away.

20. 2016-07-15
    historical

    Show marketing remark (254 chars)

    Beautiful updated modern Condo. Located in wellmaintained intercostal community. Snug Harbor offers a awesome pool, on site manager and low Condo fees. Close to shopping, Beaches and downtown Delray Beach. Great for year round or as a seasonal get-away.

21. 2016-07-14
    listed $89,900 Active
22. 2013-07-02
    soldstatus $28,299 Closed
23. 2013-06-22
    status Pending
24. 2013-06-05
    status Pending
25. 2013-05-31
    listed $28,000 New
26. 2008-08-03
    historical
27. 2008-03-03
    listed $113,500
28. 1997-08-11
    soldstatus $33,000
29. 1995-07-17
    soldstatus $30,000

ⓘ 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: $2,099 · $175/mo
• Projected year-2 tax: $2,099 · $175/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 6/10 Major FEMA zone X (shaded) · 56% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 29 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: $23,862
• − Mortgage interest: −$7,837
• − Property taxes: −$2,099
• − Insurance: −$700
• − Repairs & maintenance: −$1,909
• − Management: −$1,909
• − HOA: −$6,600
• − Depreciation: −$4,070
• Taxable loss: −$1,261
• Est. tax savings @ 24.0%: +$303
• After-tax cash flow: $951/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

+366.3% since first listed

16 events — show timeline

• 2026-05-23 Listed $139,900 Beaches MLS
• 2017-01-27 Sold (Public Records) $74,000 Public Records
• 2017-01-25 Sold (MLS) $74,000 Beaches MLS
• 2016-12-12 Pending — Beaches MLS
• 2016-09-16 Price Changed $84,900 Beaches MLS
• 2016-07-15 Listed $89,900 Beaches MLS
• 2016-07-15 Listing Removed — Beaches MLS
• 2016-07-14 Listed $89,900 Beaches MLS
• 2013-07-02 Sold (MLS) $28,299 Beaches MLS
• 2013-06-22 Pending — Beaches MLS
• 2013-06-05 Pending — Beaches MLS
• 2013-05-31 Listed $28,000 Beaches MLS
• 2008-08-03 Listing Removed — Beaches MLS
• 2008-03-03 Listed $113,500 Beaches MLS
• 1997-08-11 Sold (Public Records) $33,000 Public Records
• 1995-07-17 Sold (Public Records) $30,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $2,099 · +8.7% YoY. Source: county tax records.