39016 Gayle Bay · Boynton Beach, FL 33436

$199,900

3 bd · 2.0 ba · 1,056 sqft · Condo public records · 20 Days on market

Built 1981 $270/mo HOA · 10% 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 +26.9/30.0
• DSCR +9.3/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Prime location! Handyman special with no land lease. Situated at the end of a quiet cul-de-sac on a small canal, this home features living room, dining area, galley kitchen, two spacious bedrooms and two bathrooms, each bedroom offering walk-in closets. The main bath includes a step-in shower. Enjoy two glass-enclosed patios--perfect for relaxing or entertaining guests. Located in an active 55+ community with abundant amenities, including two heated pools, pickleball courts, shuffleboard, and a full calendar of activities.

Key facts

• Gated community
• Cul de sac
• Modern finishes

Tags

• CUL DE SAC
• CANAL VIEWS
• GATED COMMUNITY
• MODERN FINISHES
• OUTDOOR LIVING SPACES
• LUXURY VINYL FLOORING

Property features AI

Finance

• Financial info: Not a land-lease property; Pets allowed (with number and size limits)
• HOA & community: Monthly association fee of $270; Association amenities include clubhouse, pool, community room, library, billiard room, bocce ball, pickleball and shuffleboard courts, dog park, picnic area, manager on site, street lights, internet included, and management; Senior community

Exterior

• Parking: Attached carport with 2 covered spaces (2 total parking spaces); Concrete parking surface
• Security: Gated community with guard
• Utilities: Public water; Public sewer; Sewer and water available
• Home design: Manufactured home (double wide); Single-story; Resale property; West-facing
• Construction: Modular construction; Metal roof; Other skirt
• Exterior features: Open patio; Screened patio; Screened porch; Porch; Glass-enclosed porch/patio; Cul-de-sac lot; Waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 2 main-level bedrooms
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Kitchen island; Walk-in closets; Stacked bedroom layout; Sliding windows
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% 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: Hidden Oaks K-8 (math 42% / reading 53%, grade D, #1,182 of 2,144 statewide, top 55%, 785 students, 54% 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-school proficiency averages 30% at this address vs 50% district-wide (-19 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 soft (-0.6%/yr); 445 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 42% of the median local income ($76k/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 20 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $73k; list at $200k implies a 174% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,901 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.32% ✓
• Cap rate: 9.62%
• Cash-on-cash: 11.88%
• DSCR: 1.53
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.92×
• Total profit: $-4,700
• Equity at exit: $29,806

10-year hold

• IRR: 3.5%
• Equity multiple: 1.21×
• Total profit: $11,969
• Equity at exit: $17,284

Cash invested: $55,972 (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 33436

• Home prices YoY: -26.0%
• Rents YoY: -0.6%
• Active inventory: 445
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,644 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$133 /mo · $1,594/yr
• Insurance: −$83
• HOA: −$270
• Vacancy / Maint / Mgmt: −$555
• Net cashflow: $554

Break-even live

Break-even rent $1,942

Max offer price $199,900

Occupancy floor 74%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8949 Oak St Boynton Beach, FL	2.0	2.0	1040	$1,300	$1.25	24d	1	0.51mi
9498 S Military Trl #5 Boynton Beach, FL	3.0	2.5	1317	$2,900	$2.20	24d	1	0.59mi
5155 Europa Dr Unit J Boynton Beach, FL	3.0	2.0	1333	$2,750	$2.06	24d	1	0.81mi
5373 Mirror Lakes Blvd Boynton Beach, FL	3.0	2.0	1310	$2,100	$1.60	24d	1	0.85mi
9900 Pineapple Tree Dr #106 Boynton Beach, FL	2.0	2.0	1008	$2,250	$2.23	24d	1	0.93mi
5157 Floria Way Unit J Boynton Beach, FL	3.0	2.0	1447	$3,300	$2.28	24d	1	0.94mi
9935 Pineapple Tree Dr #202 Boynton Beach, FL	2.0	2.0	1008	$2,575	$2.55	14d	1	0.97mi
3736 Coelebs Ave Boynton Beach, FL	3.0	2.0	1232	$3,000	$2.44	24d	1	0.98mi
5537 Pebble Brook Ln Boynton Beach, FL	3.0	2.0	1166	$2,825	$2.42	14d	1	0.98mi
5133 Brisata Cir Unit P Boynton Beach, FL	3.0	2.0	1374	$2,800	$2.04	24d	1	1.01mi
4525 Nutmeg Tree Ln Unit A Boynton Beach, FL	2.0	2.0	1404	$3,000	$2.14	24d	1	1.03mi
5275 Europa Dr Unit I Boynton Beach, FL	3.0	2.0	1282	$2,500	$1.95	1d	1	1.04mi
5418 Firenze Dr Unit P Boynton Beach, FL	2.0	2.0	1139	$2,400	$2.11	2d	1	1.10mi
5072 Arbor Glen Cir Lake Worth, FL	3.0	2.0	1232	$3,300	$2.68	14d	1	1.10mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,315	$1.93	3d	1	1.12mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,267	$1.89	21d	1	1.12mi
3500 Sandpiper Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	1147	$2,579	$2.25	21d	22	1.13mi
920 Sun Acres Ln Boynton Beach, FL	2.0	2.0	1352	$2,200	$1.63	24d	1	1.19mi
3561 Oberon Ave Boynton Beach, FL	3.0	2.0	1248	$2,850	$2.28	20d	1	1.28mi
9746 Nickels Blvd Boynton Beach, FL	2.0	2.0	1215	$2,800	$2.30	24d	1	1.32mi
4220 Grove Park Ln Unit 1 Boynton Beach, FL	3.0	2.0	1406	$3,600	$2.56	24d	1	1.34mi
4220 Grove Park Ln Unit 1 Boynton Beach, FL	3.0	2.0	1406	$3,400	$2.42	3d	1	1.34mi
7705 Forest Green Ln Boynton Beach, FL	2.0	2.0	1379	$3,200	$2.32	17d	1	1.36mi
7705 Forest Green Ln Boynton Beach, FL	3.0	2.0	1379	$3,200	$2.32	24d	1	1.36mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,839	$2.79	1d	19	1.45mi
220 Savannah Lakes Dr Boynton Beach, FL	2.0	2.0	1098	$2,365	$2.15	2d	1	1.46mi
10187 Mangrove Dr #104 Boynton Beach, FL	2.0	2.0	1260	$2,350	$1.87	24d	1	1.48mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$2,950	$2.35	1d	1	1.48mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$3,000	$2.39	24d	1	1.48mi
4944 Equestrian Cir Unit A Boynton Beach, FL	2.0	2.0	1400	$2,500	$1.79	7d	1	1.48mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,346	$2.34	13d	1	1.49mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,394	$2.39	2d	1	1.49mi
4259 Wood Ride Unit E Boynton Beach, FL	2.0	2.0	1240	$2,350	$1.90	7d	1	1.49mi

HOA detail condo

• Monthly dues: $270 · $3,240/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-18
   days on market $199,900 Active 20 DOM
2. 2026-06-17
   days on market $199,900 Active 19 DOM
3. 2026-06-16
   days on market $199,900 Active 18 DOM
4. 2026-06-15
   days on market $199,900 Active 17 DOM
5. 2026-06-13
   days on market $199,900 Active 15 DOM
6. 2026-06-09
   days on market $199,900 Active 11 DOM
7. 2026-06-08
   days on market $199,900 Active 10 DOM
8. 2026-06-07
   days on market $199,900 Active 9 DOM
9. 2026-06-04
   days on market $199,900 Active 6 DOM
10. 2026-06-03
    days on market $199,900 Active 5 DOM
11. 2026-06-02
    days on market $199,900 Active 4 DOM
12. 2026-06-01
    days on market $199,900 Active 3 DOM
13. 2026-05-31
    days on market $199,900 Active 2 DOM

ⓘ 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: $1,594 · $133/mo
• Projected year-2 tax: $1,659 · $138/mo
• Expected delta: +$65/yr (+$5/mo · 4.1%)

ⓘ 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 6 d/yr ≥106°F today · 20 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: $31,728
• − Mortgage interest: −$11,198
• − Property taxes: −$1,594
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,538
• − Management: −$2,538
• − HOA: −$3,240
• − Depreciation: −$5,815
• Taxable income: $3,805
• Est. tax owed @ 24.0%: −$913
• After-tax cash flow: $5,739/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): 48,743
• Household income: $75,789
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 1813.0

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 0.64)
• Race & ethnicity: White 52% Black 24% Hispanic / Latino 19% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 3% Dominican 1%
• Common ancestry: Hispanic 12% Romanian 3% Scotch-Irish 2%
• Foreign-born: 27% · Canada, Jamaica, Vietnam
• Languages at home: 64% English-only · Spanish 14% French/Haitian/Cajun 13% 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: ▼ -109.59%
• Current HPI: 311.7742
• Rent YoY: ▼ -0.57%
• 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

+142.3% since first listed

5 events — show timeline

• 2026-05-29 Listed $199,900 Beaches MLS
• 2026-03-20 Sold (MLS) $73,000 Beaches MLS
• 2026-03-11 Pending — Beaches MLS
• 2026-02-24 Pending — Beaches MLS
• 2026-02-18 Listed $82,500 Beaches MLS

Property tax history

+6.1%/yr

Latest (2025): $1,594 · +3.9% YoY. Source: county tax records.