10851 Palm Lake Ave #202 · Golf, FL 33437

$224,900

3 bd · 2.0 ba · 1,340 sqft · Condo public records · 107 Days on market

Built 1986 $900/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 +18.0/30.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• 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 MLS

YOU DON'T GET A WATER VIEW AT THIS PRICE VERY OFTEN. WILL SELL FURNISHED FOR $99,500. BEAUTIFUL FURNISHINGS. YOU MUST INCLUDE THIS UNIT FOR YOUR WINTER HIDE-A-WAY. LARGE PATIO AND ALL ROOMS OVERLOOKING LAKE.

Key facts

• Gated community
• Lake views
• Waterfront living

Tags

• GATED COMMUNITY
• WATERFRONT LIVING
• CLOSED SCREENED BALCONY
• LAKE VIEWS

Property features AI

Finance

• Other: Senior community
• Financial info: Pets not allowed; Property is resale
• HOA & community: Community association present; Monthly association fee (amount provided); Association amenities include clubhouse, fitness center, pool/spa/sauna, tennis, pickleball and shuffleboard courts, bocce ball, billiard and game rooms, jogging path, picnic area, street lights, elevators, on-site manager, management, internet included, and parking; Association fee covers cable TV, insurance, grounds maintenance, pest control, security, sewer, trash, water, common areas and recreation facilities

Exterior

• Parking: Assigned parking; Guest parking
• Security: Gated community with guard; Owned security system; Security system present; Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric; Sewer and water available
• Home design: Condominium; Multi/split levels; Two-story building; North-facing
• Construction: Stucco and CBS construction; Barrel/Spanish tile roof with wood truss/rafter
• Exterior features: Open porch; Patio; Sidewalks; Paved road; Waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: Three bedrooms on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central electric heating; Electric cooling; Ceiling fans
• Interior features: Built-in features; Walk-in closets; Split bedroom layout; Closet cabinetry; Custom mirrors; Blinds; Sliding windows
• Laundry & utility: Laundry closet located inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $205k (9.0% 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); Boynton Beach Community High (math 13% / reading 25%, grade F, #565 of 667 statewide, top 85%, 1,547 students, 65% FRL) — zoned schools average 70% FRL vs 52% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% 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); 490 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).
• At $3,116/mo this rent would consume 46% 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 $1k of equity ($2k loan paydown + $-544 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 107 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y 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 $90k; list at $225k implies a 150% gain — meaningful room to come down on a strong offer.

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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,659 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% 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. 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 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: 1.39% ✓
• Cap rate: 7.33%
• Cash-on-cash: 3.69%
• DSCR: 1.16
• GRM: 6.0

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: -0.6%
• Equity multiple: 0.97×
• Total profit: $-1,609
• Equity at exit: $62,599

10-year hold

• IRR: 3.6%
• Equity multiple: 1.35×
• Total profit: $22,095
• Equity at exit: $73,121

Cash invested: $62,972 (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: 490
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $3,116 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$95 /mo · $1,140/yr
• Insurance: −$94
• HOA: −$900
• Vacancy / Maint / Mgmt: −$654
• Net cashflow: $194

Break-even live

Break-even rent $2,871

Max offer price $224,900

Occupancy floor 89%

Sensitivity live

Price	-10% $321	-5% $257	+0% $194	+5% $130	+10% $66
Rent	-10% $-53	-5% $70	+0% $194	+5% $317	+10% $440
Rate	-1.0pp $307	-0.5pp $251	base $194	+0.5pp $135	+1.0pp $76

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11115 Oakdale Rd Boynton Beach, FL	3.0	2.0	1713	$4,200	$2.45	25d	1	0.25mi
10624 Tropic Palm Ave #202 Boynton Beach, FL	3.0	2.0	1385	$2,550	$1.84	25d	1	0.26mi
10592 Tropic Palm Ave #202 Boynton Beach, FL	2.0	2.0	1385	$2,450	$1.77	25d	1	0.28mi
10921 Royal Caribbean Cir Boynton Beach, FL	3.0	2.0	1762	$3,800	$2.16	5d	1	0.31mi
10921 Royal Caribbean Cir Boynton Beach, FL	3.0	2.0	1782	$3,800	$2.13	25d	1	0.31mi
10596 Sunset Isles Ct Boynton Beach, FL	3.0	2.0	1769	$4,500	$2.54	25d	1	0.50mi
5217 Cedar Lake Rd Boynton Beach, FL	1.0–3.0	1.0–2.0	1030	$2,811	$2.73	2d	51	0.53mi
11234 Green Lake Dr #102 Boynton Beach, FL	2.0	2.0	1196	$2,200	$1.84	25d	1	0.56mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,346	$2.34	15d	1	0.57mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,394	$2.39	4d	1	0.57mi
11211 S Military Trl Boynton Beach, FL	1.0–3.0	1.0–2.0	1033	$2,688	$2.60	0d	31	0.57mi
11282 Green Lake Dr #204 Boynton Beach, FL	2.0	2.0	1196	$3,750	$3.14	25d	1	0.57mi
11230 Green Lake Dr #204 Boynton Beach, FL	3.0	2.0	1549	$3,000	$1.94	13d	1	0.61mi
4944 Equestrian Cir Unit A Boynton Beach, FL	2.0	2.0	1400	$2,500	$1.79	8d	1	0.62mi
4907 Boxwood Cir Boynton Beach, FL	3.0	2.0	1731	$2,900	$1.68	25d	1	0.63mi
5570 Piping Rock Dr Boynton Beach, FL	2.0	2.0	1478	$2,850	$1.93	25d	1	0.64mi
5570 Piping Rock Dr Boynton Beach, FL	2.0	2.0	1478	$3,000	$2.03	0d	1	0.64mi
10187 Mangrove Dr #104 Boynton Beach, FL	2.0	2.0	1260	$2,350	$1.87	25d	1	0.65mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$2,950	$2.35	3d	1	0.74mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$3,000	$2.39	25d	1	0.74mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,757	$2.71	0d	19	0.90mi
6037 Rossmoor Lakes Ct Boynton Beach, FL	3.0	2.0	1617	$4,700	$2.91	25d	1	0.92mi
5895 Autumn Lake Ln Unit A Boynton Beach, FL	3.0	2.0	1469	$2,600	$1.77	25d	1	0.96mi
6446 Aspen Glen Cir Unit 6446 Boynton Beach, FL	3.0	2.0	1800	$4,000	$2.22	25d	1	0.98mi
6446 Aspen Glen Cir Boynton Beach, FL	3.0	2.0	1800	$3,800	$2.11	21d	1	0.98mi
4419 Sanderling Cir E Boynton Beach, FL	3.0	3.5	1866	$10,000	$5.36	25d	1	0.98mi
5133 Brisata Cir Unit P Boynton Beach, FL	3.0	2.0	1374	$2,800	$2.04	25d	1	1.09mi
5750 Fairway Park Ct #101 Boynton Beach, FL	3.0	2.0	1426	$1,850	$1.30	25d	1	1.09mi
6396 Park Lake Cir Boynton Beach, FL	3.0	2.5	1422	$2,950	$2.07	16d	1	1.10mi
10390 Utopia Cir E Unit 10390 Boynton Beach, FL	3.0	2.0	1845	$4,200	$2.28	25d	1	1.12mi
10390 Utopia Cir E Unit E Boynton Beach, FL	3.0	2.0	1845	$4,200	$2.28	4d	1	1.12mi
5157 Floria Way Unit J Boynton Beach, FL	3.0	2.0	1447	$3,300	$2.28	25d	1	1.13mi
5418 Firenze Dr Unit P Boynton Beach, FL	2.0	2.0	1139	$2,400	$2.11	4d	1	1.13mi
9935 Pineapple Tree Dr #202 Boynton Beach, FL	2.0	2.0	1008	$2,575	$2.55	16d	1	1.14mi
4249 Quail Ridge Dr N Unit A Boynton Beach, FL	2.0	2.0	1212	$4,000	$3.30	25d	1	1.15mi
9900 Pineapple Tree Dr #106 Boynton Beach, FL	2.0	2.0	1008	$2,250	$2.23	25d	1	1.20mi
5275 Europa Dr Unit I Boynton Beach, FL	3.0	2.0	1282	$2,500	$1.95	2d	1	1.23mi
12118 Country Greens Blvd Boynton Beach, FL	3.0	2.0	1566	$3,000	$1.92	11d	1	1.27mi
5155 Europa Dr Unit J Boynton Beach, FL	3.0	2.0	1333	$2,750	$2.06	25d	1	1.27mi
4525 Nutmeg Tree Ln Unit A Boynton Beach, FL	2.0	2.0	1404	$3,000	$2.14	25d	1	1.28mi

HOA detail condo

• Monthly dues: $900 · $10,800/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-21
   days on market $224,900 Active 107 DOM
2. 2026-06-18
   days on market $224,900 Active 104 DOM
3. 2026-06-17
   days on market $224,900 Active 103 DOM
4. 2026-06-16
   days on market $224,900 Active 102 DOM
5. 2026-06-15
   days on market $224,900 Active 101 DOM
6. 2026-06-13
   days on market $224,900 Active 99 DOM
7. 2026-06-09
   days on market $224,900 Active 95 DOM
8. 2026-06-08
   days on market $224,900 Active 94 DOM
9. 2026-06-07
   days on market $224,900 Active 93 DOM
10. 2026-06-04
    days on market $224,900 Active 90 DOM
11. 2026-06-03
    days on market $224,900 Active 89 DOM
12. 2026-06-02
    days on market $224,900 Active 88 DOM
13. 2026-06-01
    days on market $224,900 Active 87 DOM
14. 2026-05-31
    days on market $224,900 Active 86 DOM
15. 2026-05-21
    price $224,900
16. 2026-03-06
    listed $229,900 Active
17. 2026-01-15
    historical $3,100
18. 2025-12-31
    price $3,100
19. 2025-09-21
    listed $3,400
20. 2001-04-23
    soldstatus $90,000
21. 2001-04-04
    soldstatus $90,000 207-char remark

    Show marketing remark (207 chars)

    YOU DON'T GET A WATER VIEW AT THIS PRICE VERY OFTEN. WILL SELL FURNISHED FOR $99,500. BEAUTIFUL FURNISHINGS. YOU MUST INCLUDE THIS UNIT FOR YOUR WINTER HIDE-A-WAY. LARGE PATIO AND ALL ROOMS OVERLOOKING LAKE.

22. 2001-01-27
    historical 207-char remark

    Show marketing remark (207 chars)

    YOU DON'T GET A WATER VIEW AT THIS PRICE VERY OFTEN. WILL SELL FURNISHED FOR $99,500. BEAUTIFUL FURNISHINGS. YOU MUST INCLUDE THIS UNIT FOR YOUR WINTER HIDE-A-WAY. LARGE PATIO AND ALL ROOMS OVERLOOKING LAKE.

23. 2000-10-25
    listed $95,000 207-char remark

    Show marketing remark (207 chars)

    YOU DON'T GET A WATER VIEW AT THIS PRICE VERY OFTEN. WILL SELL FURNISHED FOR $99,500. BEAUTIFUL FURNISHINGS. YOU MUST INCLUDE THIS UNIT FOR YOUR WINTER HIDE-A-WAY. LARGE PATIO AND ALL ROOMS OVERLOOKING LAKE.

ⓘ 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: $1,140 · $95/mo
• Projected year-2 tax: $1,867 · $156/mo
• Expected delta: +$727/yr (+$61/mo · 63.8%)

ⓘ 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 · 25 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: $37,392
• − Mortgage interest: −$12,598
• − Property taxes: −$1,140
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,991
• − Management: −$2,991
• − HOA: −$10,800
• − Depreciation: −$6,543
• Taxable loss: −$795
• Est. tax savings @ 24.0%: +$191
• After-tax cash flow: $2,514/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

+136.7% since first listed

9 events — show timeline

• 2026-05-21 Price Changed $224,900 Beaches MLS
• 2026-03-06 Listed $229,900 Beaches MLS
• 2026-01-15 Rental Removed $3,100 GFLMLS
• 2025-12-31 Price Changed $3,100 GFLMLS
• 2025-09-21 Listed for Rent $3,400 GFLMLS
• 2001-04-23 Sold (Public Records) $90,000 Public Records
• 2001-04-04 Sold (MLS) $90,000 Beaches MLS
• 2001-01-27 Listing Removed — Beaches MLS
• 2000-10-25 Listed $95,000 Beaches MLS

Property tax history

+0.1%/yr

Latest (2025): $1,140 · +4.8% YoY. Source: county tax records.