10439 S Circle Lake Dr #201 · Golf, FL 33437

$215,000

3 bd · 2.0 ba · 1,648 sqft · Condo public records · 46 Days on market

Built 1988 $810/mo HOA · 24% of rent

---

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 +21.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• Appreciation +4.9/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0

Listing remarks

Lakefront Living in Palm Chase Lakes 55+ Community Discover this beautifully updated 3bed, 2bath lakefront condo in the sought-after Palm Chase Lakes community. Enjoy vaulted ceilings, an open floor plan, and breathtaking water views from your enclosed patio. The spacious master suite features dual closets, patio access, and an ensuite bath, while the second bedroom offers ample storage. The third bedroom, currently an office, can easily be converted. Upgrades include: - Brand-new A/C - New hot water heater - New bedroom floors Enjoy resort-style amenities: clubhouse, pool, hot tub, tennis, and pickleball courts. Prime location, just minutes from shopping, dining, and the beach. Don't miss

Key facts

• $810 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets allowed with breed restrictions; Senior community
• HOA & community: Homeowners association with monthly fee; Association amenities include pool, spa/hot tub, sauna, tennis and pickleball courts, shuffleboard, jogging path, billiard room, community room and library; HOA fee paid monthly

Exterior

• Parking: Assigned and guest parking; 1 open parking space (total parking 1)
• Security: Key card entry; Entry phone/intercom
• Utilities: Public water; Public sewer; Cable available; Sewer available
• Home design: Condominium; Multi/split levels; 2 total stories; South-facing
• Construction: Block and concrete construction; Owner-listed building area
• Exterior features: Waterfront (no specific waterfront features listed); Tile roof

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Cathedral and vaulted ceilings; Entrance foyer; Walk-in closets; Custom mirrors; Blinds and sliding window treatments
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $209k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#703 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, 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: Crosspointe Elementary School (math 36% / reading 45%, grade F, #1,471 of 2,144 statewide, top 69%, 652 students, 75% FRL); Carver Middle School (math 22% / reading 34%, grade F, #486 of 571 statewide, top 86%, 732 students, 73% 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 71% FRL vs 52% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 29% at this address vs 50% district-wide (-20 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 (+1.3%/yr); 489 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• At $3,358/mo this rent would consume 50% of the median local household income ($81k/yr) (locally 902% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $966 of equity ($1k loan paydown + $-520 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 46 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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 $109k; list at $215k implies a 97% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $208,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 1.56% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.44%
• DSCR: 1.29
• GRM: 5.3

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: 2.4%
• Equity multiple: 1.11×
• Total profit: $6,719
• Equity at exit: $59,844

10-year hold

• IRR: 6.3%
• Equity multiple: 1.62×
• Total profit: $37,510
• Equity at exit: $69,903

Cash invested: $60,200 (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: 489
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $3,358 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$302 /mo · $3,627/yr
• Insurance: −$90
• HOA: −$810
• Vacancy / Maint / Mgmt: −$705
• Net cashflow: $323

Break-even live

Break-even rent $2,948

Max offer price $215,000

Occupancy floor 85%

Sensitivity live

Price	-10% $445	-5% $384	+0% $323	+5% $262	+10% $201
Rent	-10% $58	-5% $191	+0% $323	+5% $456	+10% $588
Rate	-1.0pp $431	-0.5pp $378	base $323	+0.5pp $267	+1.0pp $211

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6037 Rossmoor Lakes Ct Boynton Beach, FL	3.0	2.0	1617	$4,700	$2.91	26d	1	0.19mi
5895 Autumn Lake Ln Unit A Boynton Beach, FL	3.0	2.0	1469	$2,600	$1.77	26d	1	0.24mi
10596 Sunset Isles Ct Boynton Beach, FL	3.0	2.0	1769	$4,500	$2.54	26d	1	0.32mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,757	$2.71	1d	19	0.36mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$2,950	$2.35	3d	1	0.37mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$3,000	$2.39	26d	1	0.37mi
10187 Mangrove Dr #104 Boynton Beach, FL	2.0	2.0	1260	$2,350	$1.87	26d	1	0.45mi
10390 Utopia Cir E Unit 10390 Boynton Beach, FL	3.0	2.0	1845	$4,200	$2.28	26d	1	0.49mi
10390 Utopia Cir E Unit E Boynton Beach, FL	3.0	2.0	1845	$4,200	$2.28	4d	1	0.49mi
10592 Tropic Palm Ave #202 Boynton Beach, FL	2.0	2.0	1385	$2,450	$1.77	26d	1	0.52mi
10624 Tropic Palm Ave #202 Boynton Beach, FL	3.0	2.0	1385	$2,550	$1.84	26d	1	0.52mi
9926 Watermill Cir Unit F Boynton Beach, FL	3.0	2.0	1471	$2,400	$1.63	26d	1	0.55mi
10921 Royal Caribbean Cir Boynton Beach, FL	3.0	2.0	1782	$3,800	$2.13	26d	1	0.58mi
10921 Royal Caribbean Cir Boynton Beach, FL	3.0	2.0	1762	$3,800	$2.16	5d	1	0.58mi
6396 Park Lake Cir Boynton Beach, FL	3.0	2.5	1422	$2,950	$2.07	16d	1	0.60mi
5916 Seashell Ter Boynton Beach, FL	3.0	2.0	1882	$2,900	$1.54	17d	1	0.60mi
5217 Cedar Lake Rd Boynton Beach, FL	1.0–3.0	1.0–2.0	1030	$2,811	$2.73	3d	51	0.65mi
5418 Firenze Dr Unit P Boynton Beach, FL	2.0	2.0	1139	$2,400	$2.11	4d	1	0.72mi
9654 Sun Pointe Dr Boynton Beach, FL	4.0	2.0	2142	$4,400	$2.05	26d	1	0.73mi
10839 Madison Dr Boynton Beach, FL	4.0	2.0	2079	$3,800	$1.83	3d	1	0.74mi
10839 Madison Dr Boynton Beach, FL	4.0	2.0	2079	$3,800	$1.83	12d	1	0.74mi
6165 Country Fair Cir Boynton Beach, FL	3.0	2.5	1656	$3,200	$1.93	26d	1	0.76mi
5275 Europa Dr Unit I Boynton Beach, FL	3.0	2.0	1282	$2,500	$1.95	3d	1	0.79mi
5133 Brisata Cir Unit P Boynton Beach, FL	3.0	2.0	1374	$2,800	$2.04	26d	1	0.82mi
6039 Sunberry Cir Boynton Beach, FL	4.0	2.0	2149	$3,650	$1.70	7d	1	0.84mi
11115 Oakdale Rd Boynton Beach, FL	3.0	2.0	1713	$4,200	$2.45	26d	1	0.85mi
10206 Stonehenge Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1054	$2,650	$2.51	1d	12	0.85mi
11230 Green Lake Dr #204 Boynton Beach, FL	3.0	2.0	1549	$3,000	$1.94	13d	1	0.86mi
11234 Green Lake Dr #102 Boynton Beach, FL	2.0	2.0	1196	$2,200	$1.84	26d	1	0.86mi
9629 El Clair Ranch Rd Boynton Beach, FL	4.0	2.0	2231	$4,800	$2.15	26d	1	0.89mi
4944 Equestrian Cir Unit A Boynton Beach, FL	2.0	2.0	1400	$2,500	$1.79	9d	1	0.89mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	9d	1	0.90mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	22d	1	0.90mi
5157 Floria Way Unit J Boynton Beach, FL	3.0	2.0	1447	$3,300	$2.28	26d	1	0.90mi
5299 Europa Dr Unit P Boynton Beach, FL	3.0	2.0	1606	$3,000	$1.87	15d	1	0.90mi
11282 Green Lake Dr #204 Boynton Beach, FL	2.0	2.0	1196	$3,750	$3.14	26d	1	0.91mi
5234 Europa Dr Unit A Boynton Beach, FL	3.0	2.0	1578	$2,500	$1.58	21d	1	0.91mi
11177 Aspen Glen Dr Boynton Beach, FL	3.0	2.0	1884	$3,000	$1.59	26d	1	0.92mi
6446 Aspen Glen Cir Boynton Beach, FL	3.0	2.0	1800	$3,800	$2.11	22d	1	0.92mi
6446 Aspen Glen Cir Unit 6446 Boynton Beach, FL	3.0	2.0	1800	$4,000	$2.22	26d	1	0.92mi

HOA detail condo

• Monthly dues: $810 · $9,720/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-21
   days on market $215,000 Active 46 DOM
2. 2026-06-18
   days on market $215,000 Active 43 DOM
3. 2026-06-17
   days on market $215,000 Active 42 DOM
4. 2026-06-16
   days on market $215,000 Active 41 DOM
5. 2026-06-15
   days on market $215,000 Active 40 DOM
6. 2026-06-13
   days on market $215,000 Active 38 DOM
7. 2026-06-09
   days on market $215,000 Active 34 DOM
8. 2026-06-08
   days on market $215,000 Active 33 DOM
9. 2026-06-07
   days on market $215,000 Active 32 DOM
10. 2026-06-04
    days on market $215,000 Active 29 DOM
11. 2026-06-03
    days on market $215,000 Active 28 DOM
12. 2026-06-02
    days on market $215,000 Active 27 DOM
13. 2026-06-01
    days on market $215,000 Active 26 DOM
14. 2026-05-31
    days on market $215,000 Active 25 DOM
15. 2026-05-06
    listed $215,000 Active
16. 2025-06-21
    historical
17. 2025-05-19
    historical $1,800
18. 2025-05-07
    price $1,800
19. 2025-04-03
    price $2,000
20. 2025-04-02
    price $239,000
21. 2025-03-18
    historical $2,350
22. 2025-03-14
    listed $2,350
23. 2025-03-14
    listed $2,350
24. 2025-03-12
    listed $249,000 Active
25. 2023-05-27
    historical
26. 2023-05-03
    price $290,000
27. 2023-04-17
    listed $302,500 Active
28. 2023-04-17
    historical
29. 1998-09-02
    soldstatus $109,000

ⓘ 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: $3,627 · $302/mo
• Projected year-2 tax: $3,627 · $302/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 · 27 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: $40,290
• − Mortgage interest: −$12,043
• − Property taxes: −$3,627
• − Insurance: −$1,075
• − Repairs & maintenance: −$3,223
• − Management: −$3,223
• − HOA: −$9,720
• − Depreciation: −$6,255
• Taxable income: $1,124
• Est. tax owed @ 24.0%: −$270
• After-tax cash flow: $3,608/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 — Golf

• Score: 63/100
• State rank: #703
• US rank: #14941

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• 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

+97.2% since first listed

15 events — show timeline

• 2026-05-06 Listed $215,000 Beaches MLS
• 2025-06-21 Listing Removed — Beaches MLS
• 2025-05-19 Rental Removed $1,800 GFLMLS
• 2025-05-07 Price Changed $1,800 GFLMLS
• 2025-04-03 Price Changed $2,000 GFLMLS
• 2025-04-02 Price Changed $239,000 Beaches MLS
• 2025-03-18 Rental Removed $2,350 RMLSFL
• 2025-03-14 Listed for Rent $2,350 RMLSFL
• 2025-03-14 Listed for Rent $2,350 GFLMLS
• 2025-03-12 Listed $249,000 Beaches MLS
• 2023-05-27 Listing Removed — Beaches MLS
• 2023-05-03 Price Changed $290,000 Beaches MLS
• 2023-04-17 Listed $302,500 Beaches MLS
• 2023-04-17 Coming Soon — Beaches MLS
• 1998-09-02 Sold (Public Records) $109,000 Public Records

Property tax history

+8.0%/yr

Latest (2025): $3,627 · -14.0% YoY. Source: county tax records.