900 SW 9th Street Cir · Boca Raton, FL 33486

$258,000

2 bd · 2.0 ba · 957 sqft · Townhouse · 36 Days on market

Built 1981 Good condition $270/sqft · 18% below area Est $315k · 18% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.7/30.0
• Schools +6.7/10.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +2.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Comfortable 2 bedroom/2 bathroom condo apartment home for sale in Boca Terrace (within the City of Boca Raton limits). Tile throughout. Lake view, no backyard neighbors. All new appliances in the kitchen; additionally, new AC, washer and dryer, water heater, and new toilets in both bathrooms. Conveniently located next to the City of Boca Raton Sugar Sand park and I-95. Homeowners monthly fee is $524.00 (includes water, landscaping, tennis and basketball courts, 2 swimming pools, clubhouse, outside maintenance, and trash collection at the community dumpsters). By appointment at 561-809-0626.

Key facts

• New toilets
• New washer and dryer
• Lake view

Tags

• LAKE VIEW
• NEW APPLIANCES
• NEW AC
• NEW WASHER AND DRYER
• NEW WATER HEATER
• NEW TOILETS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $258k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $67 ($807/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (9.2% below list).
• Recommended offer: $234k (9.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.2% 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: Addison Mizner School (math 80% / reading 79%, grade A, #116 of 2,144 statewide, top 6%, 1,093 students, 19% 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.
• 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 rising (+1.2%/yr); 172 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 37d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $2k of loan paydown is wiped out by about $8k 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 36 days — a 3% lower offer ($250k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $234,210 (9.2% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.12%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (median comp): $315,094
• List price: $258,000
• Delta: -18.12%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5534 Croydon Ct	1.14mi	2/2.0	946 (-1%)	2mo	$390,500	$413	62
1813 Sabel Dr	0.95mi	2/1.0	960 (+0%)	2mo	$69,000	$72	59
6347 La Costa Dr Unit H	1.05mi	2/2.0	981 (+2%)	6mo	$296,500	$302	56
1231 SW 4th St	0.85mi	2/2.0	1,063 (+11%)	0mo	$679,000	$639	46
6658 Via Regina #10	1.44mi	2/2.0	1,192 (+25%)	3mo	$305,000	$256	38
5581 Coach House Cir Unit B	0.99mi	2/1.0	1,025 (+7%)	14mo	$290,000	$283	38
6262 Walk Cir	1.41mi	2/2.0	1,092 (+14%)	6mo	$300,000	$275	37
5063 Heatherhill Ln #70	0.80mi	2/2.0	1,126 (+18%)	5mo	$364,000	$323	36
5560 Coach House Cir Unit C	1.06mi	2/2.0	1,110 (+16%)	5mo	$440,000	$396	36
6621 Via Regina #6621	1.44mi	2/2.5	1,156 (+21%)	4mo	$290,000	$251	34
1160 SW 11th St	0.94mi	2/2.0	1,183 (+24%)	18mo	$609,000	$515	25
1950 N Conference Dr	1.12mi	3/2.0 (+1)	1,131 (+18%)	14mo	$555,000	$491	24

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.23% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.42×
• Total profit: $-41,586
• Equity at exit: $38,469

10-year hold

• IRR: -11.8%
• Equity multiple: 0.35×
• Total profit: $-46,783
• Equity at exit: $22,307

Cash invested: $72,240 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 9 active · 3 under contract
• Months of supply: 54.0 mo (2%/mo absorbed)
• Median asking: $295,000 ($300/sqft)
• Median days on market: 30 d
• This list price: 22% of active listings are priced below it
• ARV vs active asking: +9.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33486

• Rents YoY: 1.2%
• Active inventory: 172
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,342 high
• Mortgage (P&I): −$1,353
• Tax est. 1.5%: −$322 /mo · $3,870/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $67

Break-even live

Break-even rent $2,257

Max offer price $258,000

Occupancy floor 92%

Sensitivity live

Price	-10% $246	-5% $156	+0% $67	+5% $-22	+10% $-111
Rent	-10% $-118	-5% $-25	+0% $67	+5% $160	+10% $252
Rate	-1.0pp $197	-0.5pp $133	base $67	+0.5pp $0	+1.0pp $-68

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: $64,500
• Closing costs: $7,740
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
930 SW 9th Street Cir #205 Boca Raton, FL	2.0	2.0	957	$2,050	$2.14	60d	1	0.09mi
930 SW 9th Street Cir #205 Boca Raton, FL	2.0	2.0	957	$2,050	$2.14	57d	1	0.09mi
872 SW 9th Street Cir #201 Boca Raton, FL	2.0	2.0	1044	$2,000	$1.92	64d	1	0.13mi
872 SW 9th Street Cir #201 Boca Raton, FL	2.0	2.0	1044	$2,000	$1.92	66d	1	0.13mi
866 SW 9th Street Cir #201 Boca Raton, FL	2.0	2.0	1044	$2,000	$1.92	54d	1	0.16mi
5515 Pacific Blvd Boca Raton, FL	1.0–2.0	1.0–2.0	917	$2,440	$2.66	0d	20	0.30mi
5500 Pacific Blvd Boca Raton, FL	1.0–2.0	1.0–2.0	1063	$2,625	$2.47	1d	15	0.31mi
566401 Arbor Club Way Boca Raton, FL	1.0–2.0	1.0–2.0	917	$2,947	$3.21	0d	19	0.46mi
5750 Coach House Cir Unit G Boca Raton, FL	2.0	2.0	1110	$3,000	$2.70	48d	1	0.81mi
5750 Coach House Cir Unit G Boca Raton, FL	2.0	2.0	1110	$3,000	$2.70	51d	1	0.81mi
6324 La Costa Dr Unit C Boca Raton, FL	1.0	1.0	700	$1,900	$2.71	64d	1	0.96mi
6323 La Costa Dr Unit M Boca Raton, FL	2.0	2.0	981	$2,950	$3.01	40d	1	0.98mi
6061 Boca Colony Dr Boca Raton, FL	1.0–3.0	1.0–2.0	981	$2,446	$2.49	0d	15	0.99mi
5580 Coach House Cir Unit F Boca Raton, FL	2.0	2.0	1110	$2,850	$2.57	73d	1	1.01mi
5580 Coach House Cir Unit F Boca Raton, FL	2.0	2.0	1110	$2,850	$2.57	21d	1	1.01mi
5520 Coach House Cir Unit G Boca Raton, FL	2.0	2.0	1110	$3,000	$2.70	54d	1	1.02mi
22148 Boca Place Dr Boca Raton, FL	1.0–3.0	1.0–2.0	985	$2,474	$2.51	0d	15	1.03mi
6292 La Costa Dr Unit M Boca Raton, FL	2.0	2.0	981	$2,300	$2.34	37d	1	1.04mi
6292 La Costa Dr Unit H Boca Raton, FL	2.0	2.0	981	$2,300	$2.34	10d	1	1.04mi
6355 La Costa Dr Unit L Boca Raton, FL	1.0	1.0	700	$1,700	$2.43	13d	1	1.04mi
6284 La Costa Dr Boca Raton, FL	1.0–2.0	1.0–2.0	840	$2,600	$3.09	4d	2	1.07mi
6283 La Costa Dr Unit D Boca Raton, FL	2.0	2.0	981	$2,400	$2.45	38d	1	1.07mi
6283 La Costa Dr Unit L Boca Raton, FL	1.0	1.0	700	$2,000	$2.86	7d	1	1.07mi
6283 La Costa Dr Unit D Boca Raton, FL	2.0	2.0	981	$2,400	$2.45	37d	1	1.07mi
6284 La Costa Dr Unit H Boca Raton, FL	2.0	2.0	981	$2,600	$2.65	37d	1	1.07mi
5539 Eton Ct Boca Raton, FL	2.0	2.0	1112	$3,500	$3.15	7d	1	1.10mi
425 E Bougainvillea Dr Deerfield Beach, FL	2.0	1.5	600	$2,500	$4.17	73d	1	1.19mi
22100 Palms Way #204 Boca Raton, FL	2.0	2.0	980	$2,300	$2.35	36d	1	1.20mi
22148 Palms Way #203 Boca Raton, FL	2.0	2.0	958	$2,500	$2.61	23d	1	1.21mi
21409 Town Lakes Dr Boca Raton, FL	1.0–3.0	1.0–2.0	986	$2,549	$2.58	0d	22	1.24mi
22136 Palms Way #103 Boca Raton, FL	2.0	2.0	958	$2,500	$2.61	64d	1	1.25mi
22136 Palms Way #103 Boca Raton, FL	2.0	2.0	958	$2,500	$2.61	73d	1	1.25mi
959 SW 18th St Unit E Boca Raton, FL	2.0	2.0	1088	$3,300	$3.03	10d	1	1.38mi
6526 Via Regina Boca Raton, FL	2.0	2.0	1090	$2,750	$2.52	73d	1	1.42mi
1195 NW 16th Ave #80 Boca Raton, FL	2.0	2.0	1017	$2,695	$2.65	36d	1	1.43mi
1195 NW 16th Ave #80 Boca Raton, FL	2.0	2.0	1017	$2,695	$2.65	34d	1	1.43mi
1171 NW 15th Ct Unit 5 Boca Raton, FL	2.0	2.0	970	$1,900	$1.96	73d	1	1.46mi
6371 Boca Cir Boca Raton, FL	2.0	2.0	1092	$2,600	$2.38	28d	1	1.46mi
1220 NW 16th Ave Unit 1 Boca Raton, FL	2.0	1.0	900	$2,000	$2.22	17d	1	1.47mi
5881 Town Bay Dr Boca Raton, FL	1.0–3.0	1.0–2.0	1050	$2,638	$2.51	0d	14	1.47mi

Listing history 26 events

1. 2026-07-10
   days on market $258,000 Active 36 DOM
2. 2026-07-09
   days on market $258,000 Active 35 DOM
3. 2026-07-07
   days on market $258,000 Active 33 DOM
4. 2026-07-06
   days on market $258,000 Active 32 DOM
5. 2026-07-06
   days on market $258,000 Active 31 DOM
6. 2026-07-05
   days on market $258,000 Active 30 DOM
7. 2026-07-04
   days on market $258,000 Active 29 DOM
8. 2026-07-02
   days on market $258,000 Active 28 DOM
9. 2026-07-01
   days on market $258,000 Active 27 DOM
10. 2026-06-30
    days on market $258,000 Active 26 DOM
11. 2026-06-29
    days on market $258,000 Active 25 DOM
12. 2026-06-28
    days on market $258,000 Active 24 DOM
13. 2026-06-27
    days on market $258,000 Active 23 DOM
14. 2026-06-26
    days on market $258,000 Active 22 DOM
15. 2026-06-24
    days on market $258,000 Active 20 DOM
16. 2026-06-22
    days on market $258,000 Active 18 DOM
17. 2026-06-21
    days on market $258,000 Active 17 DOM
18. 2026-06-18
    days on market $258,000 Active 14 DOM
19. 2026-06-17
    days on market $258,000 Active 13 DOM
20. 2026-06-16
    days on market $258,000 Active 12 DOM
21. 2026-06-15
    days on market $258,000 Active 11 DOM
22. 2026-06-13
    days on market $258,000 Active 9 DOM
23. 2026-06-09
    days on market $258,000 Active 5 DOM
24. 2026-06-07
    days on market $258,000 Active 3 DOM
25. 2026-06-04
    remarks 598-char remark
26. 2026-06-04
    listed $258,000 Active 1 DOM

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 5 d/yr ≥107°F today · 19 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,105
• − Mortgage interest: −$14,452
• − Property taxes: −$3,870
• − Insurance: −$1,290
• − Repairs & maintenance: −$2,248
• − Management: −$2,248
• − Depreciation: −$7,505
• Taxable loss: −$3,509
• Est. tax savings @ 24.0%: +$842
• After-tax cash flow: $1,650/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.

Condition & rehab AI · 6 photos

Good 75/100 Cosmetic rehab Est. rehab $4,785–$14,355 screening

This 2-bedroom/2-bathroom condo is in good condition with recent updates, including new appliances and AC. It's located in a desirable area with a lake view and community amenities, making it a good investment.

Value-add opportunities

• Both Paint walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace blinds — Improves natural light and privacy ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 67/100

Zoned Schools

Elementary Addison Mizner School A FL #116/2,144 Nat'l #1,230/41,679 Middle Boca Raton Community Middle School B FL #135/571 Nat'l #1,793/14,009 High West Boca Raton High School B- FL #93/667 Nat'l #3,176/17,239

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

B Composite livability gradescore 77/100

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 · 1,637,487 people
• City population: 250,102
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 23,232
• Household income: $105,540
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 18% Two or more races 10% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 4%
• Common ancestry: Romanian 4% Lithuanian 3% Portuguese 2%
• Foreign-born: 22% · Canada, Jamaica, Guatemala
• Languages at home: 72% English-only · Spanish 14% Other Indo-European 4% Other Asian/Pacific 2%

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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: ▼ -507.64%
• Current HPI: 393.1859
• Rent YoY: ▲ 1.23%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

+29.1% since first listed

3 events — show timeline

• 2026-06-04 Listed $258,000 ForSaleByOwner.com
• 2007-09-12 Listing Removed — Beaches MLS
• 2007-08-21 Listed $199,900 Beaches MLS