5106 Lake Catalina Dr Unit C · Boca Raton, FL 33496

$399,000

3 bd · 2.0 ba · 1,819 sqft · Condo public records · 4 Days on market

Built 1989 $550/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 +29.3/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

ENJOY LAKE AND GOLF VIEWS FROM THIS GROUND FLOOR GOLF VILLA APARTMENT. 3 BEDROOMS, 2 FULL BATHS AND GLASS ENCLOSED WRAP AROUND PATIO. KITCHEN UPGRADED WITH GRANITE COUNTERS. MANDATORY MEMBERSHIP REQUIRED. The Polo Club of Boca Raton provides its members with two premier Championship Golf Courses, a nationally recognized tennis facility with 27 Har-Tru courts, & a 35,000 square foot world-class Spa & Fitness Center.

Key facts

• $550 HOA
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $399k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $399k).
• Cap rate 10.5% vs local median 2.7% 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: Calusa Elementary School (math 83% / reading 85%, grade A+, #55 of 2,144 statewide, top 3%, 867 students, 17% FRL); Omni Middle School (math 66% / reading 66%, grade A-, #93 of 571 statewide, top 16%, 1,128 students, 29% FRL); Spanish River Community High School (math 64% / reading 74%, grade B, #63 of 667 statewide, top 10%, 2,578 students, 25% FRL) — zoned schools average 24% FRL vs 52% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 73% at this address vs 50% district-wide (+24 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: Rents rising (+2.3%/yr); 330 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $43k of equity ($3k loan paydown + $40k appreciation (10.0% 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 (10.0% appreciation + 2.3% rent growth), your $112k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 28y 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 $115k; list at $399k implies a 247% 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 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $399,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.43% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.02%
• DSCR: 1.67
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: 35.0%
• Equity multiple: 3.71×
• Total profit: $302,716
• Equity at exit: $359,451

10-year hold

• IRR: 29.9%
• Equity multiple: 8.29×
• Total profit: $814,261
• Equity at exit: $775,169

Cash invested: $111,720 (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 33496

• Home prices YoY: 3.5%
• Rents YoY: 2.3%
• Active inventory: 330
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $5,716 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$309 /mo · $3,707/yr
• Insurance: −$166
• HOA: −$550
• Vacancy / Maint / Mgmt: −$1,200
• Net cashflow: $1,398

Break-even live

Break-even rent $3,946

Max offer price $399,000

Occupancy floor 71%

Sensitivity live

Price	-10% $1,624	-5% $1,511	+0% $1,398	+5% $1,285	+10% $1,172
Rent	-10% $947	-5% $1,172	+0% $1,398	+5% $1,624	+10% $1,850
Rate	-1.0pp $1,599	-0.5pp $1,500	base $1,398	+0.5pp $1,295	+1.0pp $1,189

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4695 Brandywine Dr Boca Raton, FL	3.0	3.0	1974	$4,750	$2.41	26d	1	0.42mi
17768 Maplewood Dr Boca Raton, FL	4.0	2.0	2123	$5,200	$2.45	23d	1	0.63mi
6503 N Military Trl Boca Raton, FL	1.0–2.0	1.0–2.0	1155	$3,211	$2.78	1d	51	0.67mi
2464 NW 66th Dr Boca Raton, FL	3.0	3.5	2568	$10,000	$3.89	26d	1	0.97mi
5605 Forest Oaks Ter Delray Beach, FL	3.0	3.0	2092	$10,000	$4.78	15d	1	0.99mi
2485 NW 66th Dr Boca Raton, FL	3.0	2.5	2472	$9,500	$3.84	12d	1	1.02mi
2485 NW 66th Dr Boca Raton, FL	3.0	2.5	2472	$9,500	$3.84	26d	1	1.02mi
16843 Boca Delray Dr Delray Beach, FL	2.0	2.0	1533	$4,900	$3.20	23d	1	1.03mi
17372 Boca Club Blvd #408 Boca Raton, FL	3.0	2.0	1271	$5,000	$3.93	26d	1	1.08mi
16658 La Mesa Dr Delray Beach, FL	3.0	2.0	1779	$4,000	$2.25	26d	1	1.10mi
5555 N Military Trl Boca Raton, FL	2.0–3.0	2.0–3.0	1282	$5,069	$3.95	3d	21	1.11mi
17699 Tiffany Trace Dr Boca Raton, FL	4.0	3.0	2264	$8,000	$3.53	17d	1	1.16mi
17324 Boca Club Blvd #903 Boca Raton, FL	3.0	2.0	1347	$4,800	$3.56	26d	1	1.18mi
5500 N Military Trl Boca Raton, FL	1.0–3.0	1.0–2.0	1053	$5,619	$5.33	1d	26	1.19mi
5801 NW 24th Ave #1001 Boca Raton, FL	3.0	2.5	1957	$13,000	$6.64	18d	1	1.20mi
17099 Ryton Ln Boca Raton, FL	3.0	2.5	2492	$18,000	$7.22	26d	1	1.21mi
17274 Boca Club Blvd #2308 Boca Raton, FL	2.0	2.0	1271	$3,500	$2.75	16d	1	1.23mi
4983 Garden Dr Delray Beach, FL	3.0	2.0	2000	$15,000	$7.50	26d	1	1.24mi
5072 Alencia Ct Delray Beach, FL	3.0	2.0	1638	$4,500	$2.75	26d	1	1.25mi
17256 Boca Club Blvd #1401 Boca Raton, FL	2.0	2.0	1271	$5,800	$4.56	26d	1	1.26mi
17712 Candlewood Ter Boca Raton, FL	3.0	2.0	1984	$5,000	$2.52	26d	1	1.27mi
17712 Candlewood Ter Boca Raton, FL	3.0	2.0	1984	$5,000	$2.52	7d	1	1.27mi
2237 NW 53rd St Boca Raton, FL	3.0	3.5	2305	$25,000	$10.85	26d	1	1.29mi
2011 NW 53rd St Boca Raton, FL	3.0	2.5	2461	$11,000	$4.47	14d	1	1.30mi
2093 NW 52nd St Unit 2093 Boca Raton, FL	3.0	2.5	1835	$13,000	$7.08	26d	1	1.31mi
2034 NW 52nd St Boca Raton, FL	2.0	2.5	1527	$12,000	$7.86	26d	1	1.33mi
6750 Congress Ave Boca Raton, FL	1.0–2.0	1.0–2.0	1050	$3,453	$3.29	1d	10	1.34mi
2431 NW 59th St #404 Boca Raton, FL	3.0	2.5	1957	$10,000	$5.11	26d	1	1.34mi
2218 NW 52nd St Boca Raton, FL	2.0	2.5	1482	$13,000	$8.77	26d	1	1.35mi
16415 Berry Way Delray Beach, FL	4.0	2.5	1605	$3,000	$1.87	18d	1	1.35mi
4801 S Citation Dr Delray Beach, FL	1.0–3.0	1.0–2.0	1180	$3,745	$3.17	0d	36	1.35mi
17309 Balboa Point Way Boca Raton, FL	3.0	2.0	2013	$5,500	$2.73	26d	1	1.36mi
17317 Boca Club Blvd #8 Boca Raton, FL	3.0	2.0	1639	$3,500	$2.14	18d	1	1.36mi
17210 Boca Club Blvd #103 Boca Raton, FL	2.0	2.5	2194	$4,000	$1.82	26d	1	1.39mi
17275 Ventana Dr Boca Raton, FL	4.0	2.5	2457	$7,200	$2.93	26d	1	1.41mi
5500 Broken Sound Blvd NW Boca Raton, FL	1.0–3.0	1.0–3.0	1258	$4,688	$3.73	0d	25	1.42mi
17287 Boca Club Blvd #8 Boca Raton, FL	3.0	2.0	1976	$5,800	$2.94	26d	1	1.43mi
5241 Jog Ln Delray Beach, FL	3.0	2.5	1806	$3,650	$2.02	7d	1	1.48mi

HOA detail condo

• Monthly dues: $550 · $6,600/yr
• Likely covers: gym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-04-17
   status Pending
2. 2026-04-13
   listed $399,000 Active
3. 2019-04-08
   historical 429-char remark

   Show marketing remark (429 chars)

   ENJOY LAKE AND GOLF VIEWS FROM THIS GROUND FLOOR GOLF VILLA APARTMENT. 3 BEDROOMS, 2 FULL BATHS AND GLASS ENCLOSED WRAP AROUND PATIO. KITCHEN UPGRADED WITH GRANITE COUNTERS. MANDATORY MEMBERSHIP REQUIRED. The Polo Club of Boca Raton provides its members with two premier Championship Golf Courses, a nationally recognized tennis facility with 27 Har-Tru courts, & a 35,000 square foot world-class Spa & Fitness Center.

4. 2018-10-01
   price $98,000 429-char remark

   Show marketing remark (429 chars)

   ENJOY LAKE AND GOLF VIEWS FROM THIS GROUND FLOOR GOLF VILLA APARTMENT. 3 BEDROOMS, 2 FULL BATHS AND GLASS ENCLOSED WRAP AROUND PATIO. KITCHEN UPGRADED WITH GRANITE COUNTERS. MANDATORY MEMBERSHIP REQUIRED. The Polo Club of Boca Raton provides its members with two premier Championship Golf Courses, a nationally recognized tennis facility with 27 Har-Tru courts, & a 35,000 square foot world-class Spa & Fitness Center.

5. 2017-12-08
   listed $125,000 Active 429-char remark

   Show marketing remark (429 chars)

   ENJOY LAKE AND GOLF VIEWS FROM THIS GROUND FLOOR GOLF VILLA APARTMENT. 3 BEDROOMS, 2 FULL BATHS AND GLASS ENCLOSED WRAP AROUND PATIO. KITCHEN UPGRADED WITH GRANITE COUNTERS. MANDATORY MEMBERSHIP REQUIRED. The Polo Club of Boca Raton provides its members with two premier Championship Golf Courses, a nationally recognized tennis facility with 27 Har-Tru courts, & a 35,000 square foot world-class Spa & Fitness Center.

6. 2013-09-21
   historical
7. 2013-09-21
   historical
8. 2011-06-30
   soldstatus $115,000
9. 2011-06-15
   soldstatus $115,000
10. 2011-05-04
    historical
11. 2010-03-19
    listed $169,000
12. 2010-01-27
    historical
13. 2009-06-28
    listed $174,900
14. 2009-02-14
    historical
15. 2008-08-14
    listed $219,950
16. 2008-07-08
    historical
17. 2008-01-08
    listed $249,900
18. 2007-05-17
    listed $340,000
19. 2006-08-22
    listed $475,500
20. 2005-02-16
    soldstatus $228,000
21. 2005-01-05
    historical
22. 2004-11-09
    listed $238,500
23. 2001-02-12
    soldstatus $125,000
24. 2001-01-31
    soldstatus $125,000
25. 2001-01-11
    historical
26. 2000-09-25
    listed $129,900
27. 1999-09-20
    soldstatus $130,000
28. 1999-09-16
    soldstatus $130,000
29. 1999-08-27
    historical
30. 1998-10-29
    listed $159,900
31. 1997-12-03
    soldstatus $142,500
32. 1990-01-02
    soldstatus $179,000

ⓘ 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: $3,707 · $309/mo
• Projected year-2 tax: $3,707 · $309/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 6 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $68,592
• − Mortgage interest: −$22,350
• − Property taxes: −$3,707
• − Insurance: −$1,995
• − Repairs & maintenance: −$5,487
• − Management: −$5,487
• − HOA: −$6,600
• − Depreciation: −$11,607
• Taxable income: $11,358
• Est. tax owed @ 24.0%: −$2,726
• After-tax cash flow: $14,051/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): 26,579
• Household income: $114,885
• Rent vs Own: 16.5% rent · 83.5% own
• Severe rent burden: 464.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Two or more races 8% Asian 5% Black 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Scotch-Irish 13% Romanian 9% Italian 3%
• Foreign-born: 24% · Canada, Jamaica, Dominican Republic
• Languages at home: 75% English-only · Spanish 9% Other Indo-European 5% Russian/Polish/Slavic 4%

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: ▲ 10.48%
• Current HPI: 313.9058
• Rent YoY: ▲ 2.31%
• 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

+122.9% since first listed

32 events — show timeline

• 2026-04-17 Pending — Beaches MLS
• 2026-04-13 Listed $399,000 Beaches MLS
• 2019-04-08 Listing Removed — Beaches MLS
• 2018-10-01 Price Changed $98,000 Beaches MLS
• 2017-12-08 Listed $125,000 Beaches MLS
• 2013-09-21 Listing Removed — Beaches MLS
• 2013-09-21 Listing Removed — Beaches MLS
• 2011-06-30 Sold (Public Records) $115,000 Public Records
• 2011-06-15 Sold (MLS) $115,000 Beaches MLS
• 2011-05-04 Listing Removed — Beaches MLS
• 2010-03-19 Listed $169,000 Beaches MLS
• 2010-01-27 Listing Removed — Beaches MLS
• 2009-06-28 Listed $174,900 Beaches MLS
• 2009-02-14 Listing Removed — Beaches MLS
• 2008-08-14 Listed $219,950 Beaches MLS
• 2008-07-08 Listing Removed — Beaches MLS
• 2008-01-08 Listed $249,900 Beaches MLS
• 2007-05-17 Listed $340,000 Beaches MLS
• 2006-08-22 Listed $475,500 Beaches MLS
• 2005-02-16 Sold (Public Records) $228,000 Public Records
• 2005-01-05 Listing Removed — Beaches MLS
• 2004-11-09 Listed $238,500 Beaches MLS
• 2001-02-12 Sold (Public Records) $125,000 Public Records
• 2001-01-31 Sold (MLS) $125,000 Beaches MLS
• 2001-01-11 Listing Removed — Beaches MLS
• 2000-09-25 Listed $129,900 Beaches MLS
• 1999-09-20 Sold (Public Records) $130,000 Public Records
• 1999-09-16 Sold (MLS) $130,000 Beaches MLS
• 1999-08-27 Listing Removed — Beaches MLS
• 1998-10-29 Listed $159,900 Beaches MLS
• 1997-12-03 Sold (Public Records) $142,500 Public Records
• 1990-01-02 Sold (Public Records) $179,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $3,707 · +3.6% YoY. Source: county tax records.