2929 S Ocean Blvd #2110 · Boca Raton, FL 33432

$322,500

1 bd · 1.5 ba · 760 sqft · Condo public records · 56 Days on market

Built 1974

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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 +12.5/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• DSCR +3.7/10.0
• Rent growth +3.6/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Large one bedroom 1.5 Bath Open Floor Plan condo! Across the Beach and Ocean. Unit is facing the pool and the Laundry Room is on the same floor. The unit is Fully Furnished so EVERYTHING you need is inside! with large Walk-in closet. A must see unit! Please note this is a SMOKE FREE BUILDING and NO PETS Policy! New AC 2025!

Key facts

• Open floor plan
• Large walk-in closet
• New ac

Tags

• OPEN FLOOR PLAN
• LAUNDRY ROOM ON THE SAME FLOOR
• FULLY FURNISHED
• LARGE WALK-IN CLOSET
• NEW AC

Property features AI

Finance

• HOA & community: Pets not allowed

Exterior

• Parking: Assigned and guest parking; Detached garage available; Has garage (1 parking space)
• Security: Other security features
• Utilities: Public water; Public sewer; Electricity connected; Sewer available
• Home design: Condominium; 4-story building; Second floor entry; Faces east
• Construction: Brick construction; Flat roof; Block foundation; Building name: Boca South Condominiums; Updated/remodeled
• Exterior features: Second-floor entry; Not waterfront

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator
• Bedrooms: One main-level bedroom (entry level 2)
• Flooring: Concrete; Tile; Wood
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central heating; Other heating; Central air conditioning; Ceiling fans; Electric cooling; Wall/window unit(s)
• Interior features: Partially furnished; Disposal; Updated/remodeled unit
• Laundry & utility: Common area laundry room with multiple locations; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $322k.

Deal economics

• At list price, monthly cash flow is $-46 ($-551/yr) — negative.
• To cash-flow at today's rent, offer at most $314k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (16.3% below list).
• Recommended offer: $270k (16.3% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 2.8% 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: Boca Raton Elementary School (math 47% / reading 52%, grade D, #1,088 of 2,144 statewide, top 53%, 365 students, 62% 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).
• Market conditions: Rents rising fast (+4.6%/yr); 472 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 30% of the median local income ($107k/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 $2k of loan paydown is wiped out by about $10k 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 56 days — a 3% lower offer ($313k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $198k; list at $322k implies a 63% 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 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $269,813 (16.3% 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 56 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.84% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.61%
• DSCR: 0.97
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.56% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.44×
• Total profit: $-50,874
• Equity at exit: $48,086

10-year hold

• IRR: -4.7%
• Equity multiple: 0.67×
• Total profit: $-29,810
• Equity at exit: $27,884

Cash invested: $90,300 (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 33432

• Rents YoY: 4.6%
• Active inventory: 472
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,698 high
• Mortgage (P&I): −$1,691
• Tax from tax record: −$352 /mo · $4,222/yr
• Insurance: −$134
• HOA: −$0
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $-46

Break-even live

Break-even rent $2,756

Max offer price $314,387

Occupancy floor 97%

Sensitivity live

Price	-10% $137	-5% $45	+0% $-46	+5% $-137	+10% $-228
Rent	-10% $-259	-5% $-153	+0% $-46	+5% $61	+10% $167
Rate	-1.0pp $116	-0.5pp $36	base $-46	+0.5pp $-129	+1.0pp $-215

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: $80,625
• Closing costs: $9,675
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2929 S Ocean Blvd Boca Raton, FL	1.0	1.5	761	$2,825	$3.71	15d	2	0.05mi
2851 S Ocean Blvd Boca Raton, FL	1.0–2.0	1.0–2.0	1260	$2,800	$2.22	15d	3	0.09mi
3096 Cadiz Rd Boca Raton, FL	1.0	1.0	750	$2,700	$3.60	25d	1	0.11mi
2760 Banyan Rd Unit 25A Boca Raton, FL	2.0	2.0	905	$2,500	$2.76	19d	1	0.14mi
505 NE 20th Ave Deerfield Beach, FL	1.0–3.0	1.0–2.0	1227	$1,975	$1.61	8d	2	0.16mi
2730 Banyan Rd Boca Raton, FL	2.0	2.0	935	$4,000	$4.28	25d	2	0.17mi
2730 Banyan Rd #26 Boca Raton, FL	2.0	2.0	905	$5,400	$5.97	4d	1	0.17mi
1932 NE 7th St #1 Deerfield Beach, FL	1.0	1.0	600	$2,099	$3.50	25d	1	0.18mi
333 NE 21st Ave Deerfield Beach, FL	1.0–2.0	1.5–2.5	870	$2,500	$2.87	14d	6	0.27mi
1969 NE 4th St Deerfield Beach, FL	2.0	1.0	1100	$3,200	$2.91	25d	1	0.27mi
1910 NE 5th St Unit 8 Deerfield Beach, FL	1.0	1.5	1000	$2,800	$2.80	8d	1	0.31mi
1910 NE 5th St Unit 8 Deerfield Beach, FL	1.0	1.5	1000	$2,800	$2.80	25d	1	0.31mi
1913 NE 4th St Unit 1-9 Deerfield Beach, FL	1.0	1.0	859	$2,000	$2.33	18d	1	0.33mi
1931 NE 2nd St Deerfield Beach, FL	2.0	2.0	1001	$5,000	$5.00	25d	2	0.41mi
1907 NE 2nd St Deerfield Beach, FL	1.0	1.0	675	$2,050	$3.04	11d	1	0.43mi
1960 NE 1st St Apt D7 Deerfield Beach, FL	1.0	1.0	600	$2,700	$4.50	25d	1	0.48mi
2080 E Hillsboro Blvd #108 Deerfield Beach, FL	1.0	2.0	696	$5,000	$7.18	8d	1	0.54mi
330 SE 20th Ave Deerfield Beach, FL	2.0	2.0–2.5	1099	$3,998	$3.64	25d	2	0.74mi
330 SE 20th Ave Deerfield Beach, FL	2.0	2.0–2.5	1099	$3,948	$3.59	20d	2	0.74mi
445 SE 21st Ave #201 Deerfield Beach, FL	2.0	2.0	1065	$3,100	$2.91	25d	1	0.79mi
500 SE 21st Ave #509 Deerfield Beach, FL	1.0	1.0	900	$3,000	$3.33	25d	1	0.82mi
230 N Federal Hwy #305 Deerfield Beach, FL	2.0	2.0	993	$2,600	$2.62	15d	1	0.83mi
230 N Federal Hwy #205 Deerfield Beach, FL	2.0	2.0	993	$2,600	$2.62	25d	1	0.83mi
1420 SE 3rd St Unit 24 Deerfield Beach, FL	1.0	1.0	575	$1,700	$2.96	25d	1	0.84mi
1341 SE 3rd St Deerfield Beach, FL	2.0	1.0	750	$3,250	$4.33	25d	1	0.85mi
381 SE 15th Ave Unit 1 Deerfield Beach, FL	2.0	1.0	900	$3,300	$3.67	25d	1	0.87mi
322 N Federal Hwy #137 Deerfield Beach, FL	2.0	2.0	950	$2,400	$2.53	25d	1	0.87mi
1221 SE 3rd St #3 Deerfield Beach, FL	2.0	2.0	941	$2,600	$2.76	15d	1	0.88mi
1221 SE 3rd St Unit 4 Deerfield Beach, FL	2.0	2.0	941	$2,400	$2.55	25d	1	0.88mi
1111 S Ocean Blvd Boca Raton, FL	2.0–3.0	2.0–2.5	1313	$2,500	$1.90	25d	3	0.91mi
1261 SE 4th St #2 Deerfield Beach, FL	2.0	2.0	771	$2,200	$2.85	15d	1	0.92mi
950 Ponce de Leon Rd Boca Raton, FL	2.0	2.0	1093	$2,525	$2.31	10d	1	0.95mi
1017 SE 3rd St Unit 3 Deerfield Beach, FL	—	1.0	700	$1,750	$2.50	14d	1	0.96mi
1102 SE 3rd St Unit 8 Deerfield Beach, FL	—	1.0	550	$1,400	$2.55	14d	1	0.98mi
745 SE 19th Ave #112 Deerfield Beach, FL	2.0	2.0	870	$2,100	$2.41	25d	1	1.01mi
800 SE 20th Ave Deerfield Beach, FL	1.0–2.0	1.5–2.0	1087	$2,750	$2.53	19d	2	1.02mi
224 SE 9th Ave Deerfield Beach, FL	1.0	1.0	650	$1,645	$2.53	25d	1	1.08mi
100 Royal Palm Way #2040 Boca Raton, FL	1.0	1.5	900	$1,195	$1.33	25d	1	1.09mi
236 SE 9th Ave Deerfield Beach, FL	1.0	1.0	650	$1,645	$2.53	14d	1	1.09mi
27 Royal Palm Way #503 Boca Raton, FL	2.0	2.0	1081	$2,500	$2.31	5d	1	1.09mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $322,500 Active 56 DOM
2. 2026-06-17
   days on market $322,500 Active 55 DOM
3. 2026-06-16
   days on market $322,500 Active 54 DOM
4. 2026-06-15
   days on market $322,500 Active 53 DOM
5. 2026-06-13
   days on market $322,500 Active 51 DOM
6. 2026-06-09
   days on market $322,500 Active 47 DOM
7. 2026-06-08
   days on market $322,500 Active 46 DOM
8. 2026-06-07
   days on market $322,500 Active 45 DOM
9. 2026-06-04
   pricedays on market $322,500 Active 42 DOM
10. 2026-06-03
    days on market $324,500 Active 41 DOM
11. 2026-06-02
    days on market $324,500 Active 40 DOM
12. 2026-06-01
    days on market $324,500 Active 39 DOM
13. 2026-05-31
    days on market $324,500 Active 38 DOM
14. 2026-05-18
    price $324,500
15. 2026-05-04
    price $325,000
16. 2026-04-23
    listed $327,500 Active
17. 2017-01-05
    soldstatus $198,000
18. 2000-03-07
    soldstatus $68,300
19. 1999-03-16
    soldstatus $65,000
20. 1989-03-13
    soldstatus $75,000

ⓘ 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: $4,222 · $352/mo
• Projected year-2 tax: $4,222 · $352/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 3/10 Moderate FEMA zone X (unshaded) · 10% 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,378
• − Mortgage interest: −$18,065
• − Property taxes: −$4,222
• − Insurance: −$1,612
• − Repairs & maintenance: −$2,590
• − Management: −$2,590
• − Depreciation: −$9,382
• Taxable loss: −$6,084
• Est. tax savings @ 24.0%: +$1,460
• After-tax cash flow: $909/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 — 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 · 1,438,312 people
• City population: 250,102
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 21,834
• Household income: $107,045
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1461.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 18% Two or more races 13% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Cuban 3%
• Common ancestry: Scotch-Irish 4% Subsaharan African 4% Romanian 4%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 77% English-only · Spanish 13% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -565.03%
• Current HPI: 391.7799
• Rent YoY: ▲ 4.56%
• 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

+332.7% since first listed

7 events — show timeline

• 2026-05-18 Price Changed $324,500 Beaches MLS
• 2026-05-04 Price Changed $325,000 Beaches MLS
• 2026-04-23 Listed $327,500 Beaches MLS
• 2017-01-05 Sold (Public Records) $198,000 Public Records
• 2000-03-07 Sold (Public Records) $68,300 Public Records
• 1999-03-16 Sold (Public Records) $65,000 Public Records
• 1989-03-13 Sold (Public Records) $75,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $4,222 · +5.5% YoY. Source: county tax records.