10884 Waterberry Ct · Boca Raton, FL 33498

$299,000

2 bd · 2.0 ba · 1,327 sqft · Townhouse public records · 86 Days on market

Built 1985 1,559 sqft lot $353/mo HOA · 10% of rent

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Why this score? — see what drove the B- 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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• 1% rule +7.0/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to Waterberry at Boca Chase, a gated 55+ community in desirable West Boca. This 2BR/2BA villa is tucked on a quiet cul-de-sac and features a bright split-bedroom layout with vaulted ceilings, an eat-in pass-through kitchen, indoor laundry, and an enclosed Florida room under A/C with closet—perfect flex space. Clean and well maintained in original condition, offering an excellent opportunity to personalize and update to your own style. New Rheem A/C (2024) and two assigned parking spaces. Enjoy resort-style amenities including clubhouse, pool, hot tub, fitness center, sauna, tennis, pickleball, and more. Vacant and easy to show—schedule your private tour today. Seller is

Key facts

• Gated community
• Split-bedroom layout
• Quiet cul-de-sac

Tags

• GATED COMMUNITY
• QUIET CUL-DE-SAC
• SPLIT-BEDROOM LAYOUT
• EAT-IN KITCHEN
• INDOOR LAUNDRY
• ENCLOSED FLORIDA ROOM

Property features AI

Finance

• Financial info: No land lease; Pets allowed with possible restrictions (number/size limits); Community contains 90 units
• HOA & community: Part of Waterberry at Boca Chase and Boca Chase Property Owners Association; Monthly association fee; Community amenities include clubhouse, pool, spa/hot tub, sauna, fitness center, tennis courts, shuffleboard, billiard/game rooms, jogging path, sidewalks, street lights, gated entry, management and on-site manager, community room, maintained grounds, parking and recreation facilities; HOA fee covers cable TV, ground and structure maintenance, security, trash, common areas and taxes, reserve funds, pool service

Exterior

• Parking: Assigned, guest and open parking available; 2 open parking spaces (total 2 parking)
• Security: Key card entry; Gated community (no guard)
• Utilities: Public water; Public sewer; Electricity with circuit breakers; Cable available; Phone available
• Home design: Villa; Single-story (one level); Ground-level entry; North-facing
• Construction: Stucco/CBS construction; Composition shingle roof; Slab foundation; Built as resale
• Exterior features: Covered patio; Patio with glass enclosure; Located on a cul-de-sac; Interior lot; Private asphalt road frontage; Private maintained road; Not waterfront

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Garbage disposal; Refrigerator; Electric water heater
• Bedrooms: 2 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: Entrance foyer; High ceilings; Vaulted ceilings; Walk-in closets; Split bedroom layout; Custom mirrors; Blinds on windows
• Laundry & utility: Indoor laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $299k.

Deal economics

• At list price, monthly cash flow is $720 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Recommended offer: $281k (6.0% below list) — sets the bar for market timing.

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: Sunrise Park Elementary School (math 80% / reading 81%, grade A+, #104 of 2,144 statewide, top 5%, 1,074 students, 23% FRL); Eagles Landing Middle School (math 66% / reading 67%, grade A-, #84 of 571 statewide, top 16%, 1,508 students, 27% 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 27% FRL vs 52% district-wide (25 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 68% at this address vs 50% district-wide (+19 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.
• Market conditions: 92 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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).

Forward outlook

• In year one you build about $16k of equity ($2k loan paydown + $14k appreciation (4.7% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.7% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $85k; list at $299k implies a 252% 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; moderate wildfire risk; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $281,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.32%
• DSCR: 1.46
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.0%
• Equity multiple: 2.31×
• Total profit: $109,406
• Equity at exit: $163,635

10-year hold

• IRR: 20.9%
• Equity multiple: 4.51×
• Total profit: $293,994
• Equity at exit: $277,724

Cash invested: $83,720 (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 33498

• Home prices YoY: 1.5%
• Active inventory: 92
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $3,601 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$79 /mo · $947/yr
• Insurance: −$125
• HOA: −$353
• Vacancy / Maint / Mgmt: −$756
• Net cashflow: $720

Break-even live

Break-even rent $2,689

Max offer price $299,000

Occupancy floor 75%

Sensitivity live

Price	-10% $889	-5% $805	+0% $720	+5% $635	+10% $551
Rent	-10% $436	-5% $578	+0% $720	+5% $862	+10% $1,004
Rate	-1.0pp $871	-0.5pp $796	base $720	+0.5pp $643	+1.0pp $564

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10875 Lake Front Pl Unit 10875 Boca Raton, FL	2.0	2.0	1204	$2,300	$1.91	25d	1	0.10mi
10781 Cypress Lake Ter Boca Raton, FL	3.0	2.0	1450	$3,800	$2.62	19d	1	0.31mi
10781 Cypress Lake Ter Boca Raton, FL	3.0	2.0	1450	$3,600	$2.48	18d	1	0.31mi
10780 Cypress Lake Ter Boca Raton, FL	3.0	2.0	1450	$3,500	$2.41	8d	1	0.33mi
18965 Adagio Dr Boca Raton, FL	3.0	2.0	1795	$5,250	$2.92	25d	1	0.98mi
9975 Boca Gardens Trl Unit A Boca Raton, FL	3.0	2.0	1276	$3,300	$2.59	8d	1	1.06mi
9928 Moss Pond Dr Boca Raton, FL	3.0	2.5	1843	$4,500	$2.44	25d	1	1.23mi
9928 Moss Pond Dr Boca Raton, FL	3.0	2.5	1843	$4,500	$2.44	12d	1	1.23mi
9928 Moss Pond Dr Unit 9928 Boca Raton, FL	3.0	2.5	1843	$4,500	$2.44	15d	1	1.23mi
9713 Boca Gardens Pkwy Unit D Boca Raton, FL	3.0	3.5	1325	$3,995	$3.02	15d	1	1.28mi
9850 Ridgecreek Rd Boca Raton, FL	3.0	2.0	1364	$3,600	$2.64	25d	1	1.29mi
9841 Ridgecreek Rd Boca Raton, FL	3.0	2.0	1435	$4,500	$3.14	25d	1	1.30mi
18813 Cloud Lake Cir Boca Raton, FL	3.0	2.0	1132	$3,500	$3.09	5d	1	1.31mi
18813 Cloud Lake Cir Boca Raton, FL	3.0	2.0	1132	$3,400	$3.00	5d	1	1.31mi
9785 Ridgecreek Rd Boca Raton, FL	3.0	2.0	1172	$3,600	$3.07	19d	1	1.33mi
9785 Ridgecreek Rd Boca Raton, FL	2.0	2.0	1172	$3,450	$2.94	5d	1	1.33mi
18917 Cloud Lake Cir Boca Raton, FL	3.0	2.0	1132	$3,350	$2.96	25d	1	1.42mi

HOA detail

• Monthly dues: $353 · $4,236/yr
• Likely covers: waterpoolgymsecurityparking

Listing history 19 events

1. 2026-06-18
   days on market $299,000 Active 86 DOM
2. 2026-06-17
   days on market $299,000 Active 85 DOM
3. 2026-06-16
   days on market $299,000 Active 84 DOM
4. 2026-06-15
   days on market $299,000 Active 83 DOM
5. 2026-06-13
   days on market $299,000 Active 81 DOM
6. 2026-06-09
   days on market $299,000 Active 77 DOM
7. 2026-06-08
   days on market $299,000 Active 76 DOM
8. 2026-06-07
   days on market $299,000 Active 75 DOM
9. 2026-06-04
   days on market $299,000 Active 72 DOM
10. 2026-06-03
    days on market $299,000 Active 71 DOM
11. 2026-06-02
    days on market $299,000 Active 70 DOM
12. 2026-06-01
    days on market $299,000 Active 69 DOM
13. 2026-05-31
    days on market $299,000 Active 68 DOM
14. 2026-03-24
    listed $299,000 Active
15. 2024-11-02
    historical
16. 2024-05-13
    price $315,000
17. 2024-04-12
    listed $325,000 Active
18. 1998-10-16
    soldstatus $85,000
19. 1985-05-01
    soldstatus $71,900

ⓘ 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: $947 · $79/mo
• Projected year-2 tax: $2,482 · $207/mo
• Expected delta: +$1,535/yr (+$128/mo · 162.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,208
• − Mortgage interest: −$16,749
• − Property taxes: −$947
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,457
• − Management: −$3,457
• − HOA: −$4,236
• − Depreciation: −$8,698
• Taxable income: $4,169
• Est. tax owed @ 24.0%: −$1,001
• After-tax cash flow: $7,639/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

• County: Palm Beach County · 1,438,312 people
• City population: 250,102
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 16,853
• Household income: $146,765
• Rent vs Own: 5.3% rent · 94.7% own
• Severe rent burden: 65.0

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% Hispanic / Latino 20% Two or more races 16% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 2% Cuban 6%
• Common ancestry: Romanian 17% Scotch-Irish 6% Italian 3%
• Foreign-born: 28% · Canada, Dominican Republic, China
• Languages at home: 72% English-only · Spanish 12% Other Indo-European 6% Russian/Polish/Slavic 5%

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: ▲ 4.68%
• Current HPI: 325.4026
• Rent YoY: —
• 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

+315.9% since first listed

6 events — show timeline

• 2026-03-24 Listed $299,000 Beaches MLS
• 2024-11-02 Listing Removed — Beaches MLS
• 2024-05-13 Price Changed $315,000 Beaches MLS
• 2024-04-12 Listed $325,000 Beaches MLS
• 1998-10-16 Sold (Public Records) $85,000 Public Records
• 1985-05-01 Sold (Public Records) $71,900 Public Records

Property tax history

-0.1%/yr

Latest (2025): $947 · +3.2% YoY. Source: county tax records.