8025 Whispering Palm Dr

Boca Raton, FL 33496

$298,000C-

2 bd · 2.0 ba · 1,310 sqft · Built 1989 · Condo · Pending · 68 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,221/mo
• Mortgage (P&I): −$1,563
• Tax + insurance: −$309
• HOA: −$675
• Vac / Maint / Mgmt: −$676
• Net cashflow: $-3/mo
• Annual: $-31/yr
• Cap rate: 6.28%
• Cash-on-cash: -0.04%
• DSCR: 1.00
• 1% rule: 1.08%
• Cash to close: $83,440

Investor read

• This is a 2-bed/2.0-bath condo listed at $298k.
• At list price, monthly cash flow is $-3 ($-31/yr) — negative.
• To cash-flow at today's rent, offer at most $298k (0.2% below list).
• Meets the 1% rule at list price ($3k rent vs $298k).
• It's been on market 68 days — a 6% lower offer ($280k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $280k (6.0% below list) — sets the bar for market timing.
• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• 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: Whispering Pines Elementary School (math 62% / reading 69%, grade B+, #500 of 2,144 statewide, top 24%, 1,015 students, 25% FRL); Omni Middle School (math 66% / reading 66%, grade A-, #93 of 571 statewide, top 16%, 1,128 students, 29% FRL); Olympic Heights Community High (math 52% / reading 64%, grade C, #120 of 667 statewide, top 18%, 2,602 students, 30% FRL) — zoned schools average 28% FRL vs 52% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 63% at this address vs 50% district-wide (+14 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.
• Watch-outs: HOA is 21% of rent.
• Market conditions: Rents rising (+2.3%/yr); 330 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 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.
• Current owner paid $139k; list at $298k implies a 114% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 2.3% rent growth), your $83k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.