2087 Exeter E · Boca Raton, FL 33434

$98,000

2 bd · 1.5 ba · 861 sqft · Condo public records · 173 Days on market

Built 1980 $547/mo HOA · 29% 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 +25.4/30.0
• 1% rule +10.0/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Priced to sell, this 2BR, 1.5BA lakefront condo in Century Village Boca is a standout opportunity. With solid bones and room for updates, it's ideal for non corporate investors or buyers ready to add their own touch. Enjoy tranquil lake views and access to world-class amenities in Boca's premier 55+ community. Don't miss the chance to capture instant value.

Key facts

• Tranquil lake views
• Lakefront condo
• $547 HOA

Tags

• LAKEFRONT CONDO
• TRANQUIL LAKE VIEWS
• WORLD-CLASS AMENITIES

Property features AI

Finance

• Financial info: Pets not allowed; Senior community
• HOA & community: Monthly HOA fee; Building amenities include elevator(s), fitness center, laundry, pool, tennis courts, pickleball and shuffleboard courts, picnic area, bike storage, trash chute, library, internet included, and street lights; HOA covers cable TV, insurance, grounds maintenance, common area maintenance, and elevator

Exterior

• Parking: Street lights (community amenity)
• Security: Gated community with guard
• Utilities: Public water; Three-phase electric; Cable available; Water available
• Home design: Condominium; Resale property; Faces east; 4-story building
• Construction: CBS construction
• Exterior features: Waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet
• Bathrooms: 1 full bathroom; 1 half bathroom (2 total)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets
• Laundry & utility: Laundry facilities (building amenity)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $98k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $86k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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: schools A+, employment A+, health & safety A+; 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.
• Market conditions: Rents rising (+1.8%/yr); 418 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $678 of loan paydown is wiped out by about $3k 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 173 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• 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 $86,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 173 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.93% ✓
• Cap rate: 9.06%
• Cash-on-cash: 9.90%
• DSCR: 1.44
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.81% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-3,310
• Equity at exit: $14,612

10-year hold

• IRR: 4.5%
• Equity multiple: 1.30×
• Total profit: $8,311
• Equity at exit: $8,473

Cash invested: $27,440 (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 33434

• Rents YoY: 1.8%
• Active inventory: 418
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,889 high
• Mortgage (P&I): −$514
• Tax from tax record: −$164 /mo · $1,967/yr
• Insurance: −$41
• HOA: −$547
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $226

Break-even live

Break-even rent $1,602

Max offer price $98,000

Occupancy floor 83%

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3043 Exeter Boca Raton, FL	2.0	1.5	861	$1,949	$2.26	24d	1	0.05mi
4042 Exeter C Boca Raton, FL	2.0	1.5	861	$1,500	$1.74	24d	1	0.07mi
1047 Exeter C Boca Raton, FL	2.0	1.5	880	$1,850	$2.10	20d	1	0.07mi
4039 Exeter C Boca Raton, FL	2.0	1.5	880	$1,500	$1.70	24d	1	0.07mi
4078 Exeter Unit E Boca Raton, FL	2.0	1.5	861	$1,475	$1.71	3d	1	0.09mi
8 Fanshaw Dr Unit 8 Boca Raton, FL	1.0	1.0	585	$1,300	$2.22	7d	1	0.12mi
2027 Exeter B Boca Raton, FL	2.0	1.5	861	$1,650	$1.92	24d	1	0.12mi
4070 Exeter D Boca Raton, FL	2.0	1.5	861	$1,600	$1.86	24d	1	0.12mi
33 Fanshaw Dr Unit 33 Boca Raton, FL	2.0	1.5	835	$1,975	$2.37	24d	1	0.15mi
170 Dorset E Boca Raton, FL	2.0	1.5	835	$1,525	$1.83	24d	1	0.17mi
186 Dorset E Boca Raton, FL	2.0	1.5	835	$1,550	$1.86	24d	1	0.17mi
52 Dorset B Boca Raton, FL	2.0	1.5	840	$1,575	$1.88	19d	1	0.17mi
32 Fanshaw Dr Unit 32 Boca Raton, FL	2.0	1.5	819	$1,975	$2.41	10d	1	0.17mi
4008 Cornwall a Boca Raton, FL	1.0	1.5	738	$1,600	$2.17	24d	1	0.18mi
3031 Cornwall B Boca Raton, FL	1.0	1.5	738	$1,550	$2.10	24d	1	0.19mi
67 Fanshaw Dr Unit 670 Boca Raton, FL	2.0	1.5	835	$1,750	$2.10	15d	1	0.20mi
536 Fanshaw M Boca Raton, FL	2.0	2.0	819	$1,850	$2.26	24d	1	0.20mi
389 Fanshaw J #389 Boca Raton, FL	2.0	1.5	819	$1,800	$2.20	3d	1	0.20mi
108 Fanshaw C Boca Raton, FL	2.0	1.5	924	$1,700	$1.84	24d	1	0.20mi
96 Fanshaw C Boca Raton, FL	1.0	1.5	702	$1,650	$2.35	15d	1	0.20mi
449 Fanshaw K #449 Boca Raton, FL	2.0	1.5	819	$1,850	$2.26	19d	1	0.20mi
251 Fanshaw F Boca Raton, FL	2.0	1.5	819	$1,450	$1.77	16d	1	0.20mi
454 Fanshaw K Unit K Boca Raton, FL	1.0	1.5	715	$1,500	$2.10	15d	1	0.20mi
57 Dorset B Boca Raton, FL	2.0	1.5	840	$1,600	$1.90	24d	1	0.21mi
3014 Cornwall a Boca Raton, FL	1.0	1.5	738	$1,775	$2.41	2d	1	0.21mi
2052 Cornwall Dr Unit 2052 Boca Raton, FL	1.0	1.5	738	$3,150	$4.27	24d	1	0.21mi
3014 Cornwall a Boca Raton, FL	1.0	1.5	738	$1,650	$2.24	1d	1	0.21mi
3070 Cornwall D Boca Raton, FL	1.0	1.5	738	$3,200	$4.34	24d	1	0.21mi
531 Fanshaw M Unit 531 Boca Raton, FL	2.0	1.5	819	$1,500	$1.83	1d	1	0.21mi
531 Fanshaw M Unit 531 Boca Raton, FL	2.0	1.5	819	$1,500	$1.83	24d	1	0.21mi
4079 Cornwall Dr Unit 4079 Boca Raton, FL	2.0	1.5	861	$1,500	$1.74	24d	1	0.22mi
17 Fanshaw a Boca Raton, FL	2.0	1.5	819	$1,750	$2.14	22d	1	0.22mi
257 Fanshaw G Boca Raton, FL	2.0	2.0	819	$1,750	$2.14	24d	1	0.22mi
43 Fanshaw B Boca Raton, FL	2.0	1.5	819	$1,625	$1.98	24d	1	0.22mi
137 Fanshaw D Boca Raton, FL	2.0	1.5	819	$1,800	$2.20	10d	1	0.22mi
119 Fanshaw C Unit 119 Boca Raton, FL	1.0	1.0	585	$1,299	$2.22	24d	1	0.22mi
560 Fanshaw N #560 Boca Raton, FL	2.0	1.5	819	$1,500	$1.83	24d	1	0.22mi
195 Fanshaw E #195 Boca Raton, FL	1.0	1.5	792	$1,300	$1.64	7d	1	0.22mi
493 Fanshaw L #493 Boca Raton, FL	2.0	1.5	819	$2,300	$2.81	2d	1	0.22mi
147 Fanshaw D Boca Raton, FL	1.0	1.0	601	$1,350	$2.25	24d	1	0.22mi

HOA detail condo

• Monthly dues: $547 · $6,564/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-13
   status Pending
2. 2025-11-21
   listed $98,000 Active

ⓘ 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: $1,967 · $164/mo
• Projected year-2 tax: $1,967 · $164/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 ≥107°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,664
• − Mortgage interest: −$5,490
• − Property taxes: −$1,967
• − Insurance: −$490
• − Repairs & maintenance: −$1,813
• − Management: −$1,813
• − HOA: −$6,564
• − Depreciation: −$2,851
• Taxable income: $1,676
• Est. tax owed @ 24.0%: −$402
• After-tax cash flow: $2,314/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): 21,686
• Household income: $77,269
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 812.0

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% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 9% Scotch-Irish 8% Italian 2%
• Foreign-born: 25% · Canada, Jamaica, South Korea
• Languages at home: 73% English-only · Spanish 15% Other Indo-European 4% Russian/Polish/Slavic 1%

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: ▼ -279.89%
• Current HPI: 271.1328
• Rent YoY: ▲ 1.81%
• 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

2 events — show timeline

• 2026-05-13 Pending — Beaches MLS
• 2025-11-21 Listed $98,000 Beaches MLS

Property tax history

+14.9%/yr

Latest (2025): $1,967 · -3.7% YoY. Source: county tax records.