5394 Firenze Dr Unit O · Boynton Beach, FL 33437

$220,000

2 bd · 2.0 ba · 1,337 sqft · Condo public records · 244 Days on market

Built 1991 $834/mo HOA · 31% 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 +9.6/30.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Appreciation +4.9/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

This is a 2-bedroom 2-bathroom condo in a gated community with an enclosed balcony that still retains its original features. It has an open floor plan and spans 1131 square feet under air. The unit also includes a washer and dryer inside the condo. It is the most affordably priced condo in the area, and conveniently located near shopping and upscale dining options. Additionally, it's only a 20-minute drive to Ocean Front Beach Park.

Key facts

• Gated community
• Full gym
• Private patio

Tags

• GATED COMMUNITY
• PRIVATE PATIO
• IN UNIT WASHER DRYER
• FOUR SPARKLING POOLS
• FULL GYM
• BRAND NEW PICKLEBALL COURTS

Property features AI

Finance

• Other: Pets allowed (breed restrictions and possible pet restrictions)
• HOA & community: Monthly HOA dues; Community amenities include basketball court, clubhouse, fitness center, parking, pool, shuffleboard court, tennis courts, bocce ball, business center, community room, pickleball courts, and sidewalks; HOA fee covers cable TV, insurance, grounds maintenance, pest control, security, trash, water, and common areas

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Sewer available; Water available
• Home design: Condominium; 2-story building; Resale property; North-facing
• Construction: CBS construction
• Exterior features: Entry-level living area; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Cathedral ceilings; Vaulted ceilings; Walk-in closets
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $220k.

Deal economics

• At list price, monthly cash flow is $-149 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (11.9% below list).
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $194k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.5% vs local median 4.3% in Boynton Beach — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Crystal Lakes Elementary School (math 55% / reading 64%, grade B-, #690 of 2,144 statewide, top 34%, 788 students, 37% FRL); Boynton Beach Community High (math 13% / reading 25%, grade F, #565 of 667 statewide, top 85%, 1,547 students, 65% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: Rents rising (+1.3%/yr); 479 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 40% 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 $989 of equity ($2k loan paydown + $-532 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 244 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 31% 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 $193,600 (12.0% 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 244 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.23% ✓
• Cap rate: 5.48%
• Cash-on-cash: -2.90%
• DSCR: 0.87
• GRM: 6.8

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: -8.1%
• Equity multiple: 0.63×
• Total profit: $-22,487
• Equity at exit: $61,235

10-year hold

• IRR: -3.7%
• Equity multiple: 0.64×
• Total profit: $-21,884
• Equity at exit: $71,528

Cash invested: $61,600 (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: 6.8×

Monthly cashflow live

• Estimated rent: $2,711 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$211 /mo · $2,531/yr
• Insurance: −$92
• HOA: −$834
• Vacancy / Maint / Mgmt: −$569
• Net cashflow: $-149

Break-even live

Break-even rent $2,899

Max offer price $193,745

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5418 Firenze Dr Unit P Boynton Beach, FL	2.0	2.0	1139	$2,400	$2.11	3d	1	0.08mi
5275 Europa Dr Unit I Boynton Beach, FL	3.0	2.0	1282	$2,500	$1.95	2d	1	0.11mi
5299 Europa Dr Unit P Boynton Beach, FL	3.0	2.0	1606	$3,000	$1.87	14d	1	0.12mi
5133 Brisata Cir Unit P Boynton Beach, FL	3.0	2.0	1374	$2,800	$2.04	24d	1	0.15mi
5234 Europa Dr Unit A Boynton Beach, FL	3.0	2.0	1578	$2,500	$1.58	20d	1	0.17mi
5157 Floria Way Unit J Boynton Beach, FL	3.0	2.0	1447	$3,300	$2.28	24d	1	0.23mi
5155 Europa Dr Unit J Boynton Beach, FL	3.0	2.0	1333	$2,750	$2.06	24d	1	0.24mi
5373 Mirror Lakes Blvd Boynton Beach, FL	3.0	2.0	1310	$2,100	$1.60	24d	1	0.26mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,375	$2.33	2d	19	0.43mi
9498 S Military Trl #5 Boynton Beach, FL	3.0	2.5	1317	$2,900	$2.20	24d	1	0.48mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$3,000	$2.39	24d	1	0.48mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$2,950	$2.35	2d	1	0.48mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	8d	1	0.49mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	21d	1	0.49mi
10187 Mangrove Dr #104 Boynton Beach, FL	2.0	2.0	1260	$2,350	$1.87	24d	1	0.52mi
9935 Pineapple Tree Dr #202 Boynton Beach, FL	2.0	2.0	1008	$2,575	$2.55	15d	1	0.64mi
5895 Autumn Lake Ln Unit A Boynton Beach, FL	3.0	2.0	1469	$2,600	$1.77	24d	1	0.68mi
5217 Cedar Lake Rd Boynton Beach, FL	1.0–3.0	1.0–2.0	1030	$2,266	$2.20	2d	51	0.68mi
9900 Pineapple Tree Dr #106 Boynton Beach, FL	2.0	2.0	1008	$2,250	$2.23	24d	1	0.69mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,346	$2.34	14d	1	0.72mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,394	$2.39	3d	1	0.72mi
6165 Country Fair Cir Boynton Beach, FL	3.0	2.5	1656	$3,200	$1.93	24d	1	0.77mi
4944 Equestrian Cir Unit A Boynton Beach, FL	2.0	2.0	1400	$2,500	$1.79	8d	1	0.80mi
6037 Rossmoor Lakes Ct Boynton Beach, FL	3.0	2.0	1617	$4,700	$2.91	24d	1	0.86mi
10592 Tropic Palm Ave #202 Boynton Beach, FL	2.0	2.0	1385	$2,450	$1.77	24d	1	0.89mi
9940 Bauhinia Tree Way Unit B Boynton Beach, FL	1.0	1.0	1200	$1,800	$1.50	8d	1	0.90mi
9940 Bauhinia Tree Way Unit B Boynton Beach, FL	1.0	1.0	1200	$2,000	$1.67	24d	1	0.90mi
9926 Watermill Cir Unit F Boynton Beach, FL	3.0	2.0	1471	$2,400	$1.63	24d	1	0.92mi
10624 Tropic Palm Ave #202 Boynton Beach, FL	3.0	2.0	1385	$2,550	$1.84	24d	1	0.93mi
4525 Nutmeg Tree Ln Unit A Boynton Beach, FL	2.0	2.0	1404	$3,000	$2.14	24d	1	0.93mi
4907 Boxwood Cir Boynton Beach, FL	3.0	2.0	1731	$2,900	$1.68	24d	1	0.99mi
10596 Sunset Isles Ct Boynton Beach, FL	3.0	2.0	1769	$4,500	$2.54	24d	1	1.03mi
4045 White Pine Dr Boynton Beach, FL	3.0	2.0	1566	$1,800	$1.15	1d	1	1.06mi
9336 Water Course Way Boynton Beach, FL	3.0	2.0	1779	$3,600	$2.02	24d	1	1.10mi
9336 Water Course Way Boynton Beach, FL	3.0	2.0	1779	$3,600	$2.02	22d	1	1.10mi
5537 Pebble Brook Ln Boynton Beach, FL	3.0	2.0	1166	$2,825	$2.42	15d	1	1.15mi
10390 Utopia Cir E Unit E Boynton Beach, FL	3.0	2.0	1845	$4,200	$2.28	3d	1	1.16mi
10390 Utopia Cir E Unit 10390 Boynton Beach, FL	3.0	2.0	1845	$4,200	$2.28	24d	1	1.16mi
6365 Lansdowne Cir Boynton Beach, FL	3.0	2.0	1769	$3,200	$1.81	3d	1	1.18mi
10921 Royal Caribbean Cir Boynton Beach, FL	3.0	2.0	1782	$3,800	$2.13	24d	1	1.20mi

HOA detail condo

• Monthly dues: $834 · $10,008/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $220,000 Active 244 DOM
2. 2026-06-17
   days on market $220,000 Active 243 DOM
3. 2026-06-16
   days on market $220,000 Active 242 DOM
4. 2026-06-15
   days on market $220,000 Active 241 DOM
5. 2026-06-13
   days on market $220,000 Active 239 DOM
6. 2026-06-09
   days on market $220,000 Active 235 DOM
7. 2026-06-07
   days on market $220,000 Active 233 DOM
8. 2026-06-04
   days on market $220,000 Active 230 DOM
9. 2026-06-03
   days on market $220,000 Active 229 DOM
10. 2026-06-01
    days on market $220,000 Active 227 DOM
11. 2026-05-31
    days on market $220,000 Active 226 DOM
12. 2026-04-09
    price $220,000
13. 2025-12-29
    price $230,000
14. 2025-10-17
    listed $240,000 Active
15. 2023-05-09
    soldstatus $201,000
16. 2023-04-26
    soldstatus $201,000 Closed 436-char remark

    Show marketing remark (436 chars)

    This is a 2-bedroom 2-bathroom condo in a gated community with an enclosed balcony that still retains its original features. It has an open floor plan and spans 1131 square feet under air. The unit also includes a washer and dryer inside the condo. It is the most affordably priced condo in the area, and conveniently located near shopping and upscale dining options. Additionally, it's only a 20-minute drive to Ocean Front Beach Park.

17. 2023-03-12
    historical Active Under Contract 436-char remark

    Show marketing remark (436 chars)

    This is a 2-bedroom 2-bathroom condo in a gated community with an enclosed balcony that still retains its original features. It has an open floor plan and spans 1131 square feet under air. The unit also includes a washer and dryer inside the condo. It is the most affordably priced condo in the area, and conveniently located near shopping and upscale dining options. Additionally, it's only a 20-minute drive to Ocean Front Beach Park.

18. 2023-03-08
    listed $195,000 Active 436-char remark

    Show marketing remark (436 chars)

    This is a 2-bedroom 2-bathroom condo in a gated community with an enclosed balcony that still retains its original features. It has an open floor plan and spans 1131 square feet under air. The unit also includes a washer and dryer inside the condo. It is the most affordably priced condo in the area, and conveniently located near shopping and upscale dining options. Additionally, it's only a 20-minute drive to Ocean Front Beach Park.

19. 2002-01-14
    soldstatus $100,000
20. 2002-01-10
    soldstatus $100,000 204-char remark

    Show marketing remark (204 chars)

    LOVELY SPACIOUS CONDO IN VERY DESIREABLE ACTIVE COMMUNITY TENNIS 4 COMMUNIT POOLS LOTS OF ACTIVITIES. NOT AGE RESTRICTED, GUARDGATE- NEAR BOYNTON MALL EVERYONE WANTS TO BE IN PLATINA THIS WON'T LAST LONG.

21. 2001-12-21
    historical 204-char remark

    Show marketing remark (204 chars)

    LOVELY SPACIOUS CONDO IN VERY DESIREABLE ACTIVE COMMUNITY TENNIS 4 COMMUNIT POOLS LOTS OF ACTIVITIES. NOT AGE RESTRICTED, GUARDGATE- NEAR BOYNTON MALL EVERYONE WANTS TO BE IN PLATINA THIS WON'T LAST LONG.

22. 2001-10-03
    listed $102,900 204-char remark

    Show marketing remark (204 chars)

    LOVELY SPACIOUS CONDO IN VERY DESIREABLE ACTIVE COMMUNITY TENNIS 4 COMMUNIT POOLS LOTS OF ACTIVITIES. NOT AGE RESTRICTED, GUARDGATE- NEAR BOYNTON MALL EVERYONE WANTS TO BE IN PLATINA THIS WON'T LAST LONG.

ⓘ 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: $2,531 · $211/mo
• Projected year-2 tax: $2,531 · $211/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 · 26 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: $32,531
• − Mortgage interest: −$12,323
• − Property taxes: −$2,531
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,603
• − Management: −$2,603
• − HOA: −$10,008
• − Depreciation: −$6,400
• Taxable loss: −$5,036
• Est. tax savings @ 24.0%: +$1,209
• After-tax cash flow: $-575/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

+113.8% since first listed

11 events — show timeline

• 2026-04-09 Price Changed $220,000 Beaches MLS
• 2025-12-29 Price Changed $230,000 Beaches MLS
• 2025-10-17 Listed $240,000 Beaches MLS
• 2023-05-09 Sold (Public Records) $201,000 Public Records
• 2023-04-26 Sold (MLS) $201,000 Beaches MLS
• 2023-03-12 Contingent — Beaches MLS
• 2023-03-08 Listed $195,000 Beaches MLS
• 2002-01-14 Sold (Public Records) $100,000 Public Records
• 2002-01-10 Sold (MLS) $100,000 Beaches MLS
• 2001-12-21 Listing Removed — Beaches MLS
• 2001-10-03 Listed $102,900 Beaches MLS

Property tax history

+6.6%/yr

Latest (2025): $2,531 · -13.8% YoY. Source: county tax records.