148 Preston Way #148 · Boca Raton, FL 33434

$63,800

1 bd · 1.0 ba · 600 sqft · Condo · 34 Days on market

Built 1981 $662/mo HOA · 39% 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 +29.6/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Enjoy the best of Boca Raton living in this move-in ready 1-bedroom, 1-bath condo located on the 2nd floor with convenient elevator access in the highly sought-after 55+ community of Century Village. This bright and inviting residence offers a peaceful lifestyle paired with outstanding resort-style amenities including a clubhouse, heated pool, fitness center, social and event rooms, and complimentary transportation throughout the community and to nearby shopping centers. Ideally situated just minutes from Town Center Mall, Mizner Park, Publix, dining, entertainment, and major highways. Experience secure, active adult living in one of Boca Raton's most desirable communities!

Key facts

• Fitness center
• Elevator access
• Heated pool

Tags

• ELEVATOR ACCESS
• RESORT STYLE AMENITIES
• HEATED POOL
• FITNESS CENTER
• SOCIAL AND EVENT ROOMS
• COMPLIMENTARY TRANSPORTATION

Property features AI

Finance

• Financial info: Pets not allowed (per association)
• HOA & community: Has homeowners association; Monthly HOA fee (paid monthly) covering cable TV, roof repairs, trash, common areas, structure maintenance, recreation facility; Association amenities include pool, clubhouse, laundry, picnic area, parking, sidewalks, billiard room

Exterior

• Parking: Assigned parking; Guest parking; Total of 1 assigned parking space
• Utilities: Public water; Public sewer; Other utilities
• Home design: Condominium; 3-story building; Faces north; Resale property
• Construction: CBS construction; Tile roof; Appraiser reported living area
• Exterior features: Not waterfront; Pool; Clubhouse; Picnic area; Sidewalks; Billiard room; Common areas maintained by association; Parking available for guests

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Ceiling fan(s); Wall/window unit(s)
• Interior features: Ceiling fans; Wall/window cooling units; Common area laundry; Tile and vinyl flooring
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $64k.

Deal economics

• At list price, monthly cash flow is $231 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $64k).
• Recommended offer: $62k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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: Whispering Pines Elementary School (math 62% / reading 69%, grade B+, #500 of 2,144 statewide, top 24%, 1,015 students, 25% 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 63% at this address vs 50% district-wide (+14 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 (+1.8%/yr); 418 active listings in the ZIP; 39 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $441 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $18k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y ago; this cycle's ask has dropped $25k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,886 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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. 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 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: 2.65% ✓
• Cap rate: 10.64%
• Cash-on-cash: 15.53%
• DSCR: 1.69
• GRM: 3.1

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: 4.2%
• Equity multiple: 1.16×
• Total profit: $2,822
• Equity at exit: $9,513

10-year hold

• IRR: 11.8%
• Equity multiple: 1.85×
• Total profit: $15,169
• Equity at exit: $5,516

Cash invested: $17,864 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,689 high
• Mortgage (P&I): −$335
• Tax est. 1.5%: −$80 /mo · $957/yr
• Insurance: −$27
• HOA: −$662
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $231

Break-even live

Break-even rent $1,396

Max offer price $63,800

Occupancy floor 81%

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: $15,950
• Closing costs: $1,914
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,300	$1.81	2d	1	0.03mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,350	$1.88	24d	1	0.03mi
91 Preston Way Unit 91 Boca Raton, FL	1.0	1.0	600	$1,500	$2.50	24d	1	0.03mi
77 Preston Way #77 Boca Raton, FL	1.0	1.0	600	$1,450	$2.42	22d	1	0.18mi
77 Preston Way #77 Boca Raton, FL	1.0	1.0	600	$1,350	$2.25	8d	1	0.18mi
517 Mansfield M Unit 517 Boca Raton, FL	1.0	1.5	715	$1,550	$2.17	24d	1	0.21mi
474 Mansfield L Unit L Boca Raton, FL	1.0	1.5	720	$1,400	$1.94	11d	1	0.26mi
457 Mansfield I Unit 457 Boca Raton, FL	1.0	1.5	720	$1,700	$2.36	3d	1	0.27mi
68 Suffolk F Unit 68 Boca Raton, FL	1.0	1.5	720	$2,750	$3.82	24d	1	0.27mi
209 Suffolk F Unit F Boca Raton, FL	1.0	1.5	720	$1,400	$1.94	24d	1	0.27mi
171 Suffolk F #171 Boca Raton, FL	1.0	1.5	720	$1,500	$2.08	11d	1	0.27mi
250 Suffolk F #250 Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	3d	1	0.27mi
534 Mansfield M #534 Boca Raton, FL	1.0	1.5	715	$1,300	$1.82	24d	1	0.28mi
86 Mansfield C Unit C Boca Raton, FL	1.0	1.5	720	$1,700	$2.36	12d	1	0.28mi
4014 Newcastle A Unit A Boca Raton, FL	1.0	1.5	738	$1,495	$2.03	24d	1	0.32mi
1072 Yarmouth E #1072 Boca Raton, FL	1.0	1.5	738	$1,950	$2.64	24d	1	0.40mi
4067 Yarmouth D Boca Raton, FL	1.0	1.5	738	$1,650	$2.24	3d	1	0.41mi
3031 Cornwall B Boca Raton, FL	1.0	1.5	738	$1,550	$2.10	24d	1	0.54mi
4074 Cornwall D Boca Raton, FL	1.0	1.5	738	$1,450	$1.96	24d	1	0.57mi
2052 Cornwall Dr Unit 2052 Boca Raton, FL	1.0	1.5	738	$3,150	$4.27	24d	1	0.59mi
3014 Cornwall a Boca Raton, FL	1.0	1.5	738	$1,775	$2.41	2d	1	0.59mi
3070 Cornwall D Boca Raton, FL	1.0	1.5	738	$3,200	$4.34	24d	1	0.59mi
3014 Cornwall a Boca Raton, FL	1.0	1.5	738	$1,650	$2.24	2d	1	0.59mi
4008 Cornwall a Boca Raton, FL	1.0	1.5	738	$1,600	$2.17	24d	1	0.66mi
119 Fanshaw C Unit 119 Boca Raton, FL	1.0	1.0	585	$1,299	$2.22	24d	1	0.67mi
147 Fanshaw D Boca Raton, FL	1.0	1.0	601	$1,350	$2.25	24d	1	0.67mi
96 Fanshaw C Boca Raton, FL	1.0	1.5	702	$1,650	$2.35	15d	1	0.68mi
454 Fanshaw K Unit K Boca Raton, FL	1.0	1.5	715	$1,500	$2.10	15d	1	0.68mi
8 Fanshaw Dr Unit 8 Boca Raton, FL	1.0	1.0	585	$1,300	$2.22	8d	1	0.71mi
321 Dorset Dr Boca Raton, FL	1.0	1.5	720	$1,590	$2.21	24d	1	0.74mi
314 Brighton H Unit H Boca Raton, FL	1.0	1.5	720	$1,500	$2.08	14d	1	0.77mi
251 Brighton F Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	24d	1	0.77mi
359 Brighton I Unit I Boca Raton, FL	1.0	1.5	735	$1,550	$2.11	24d	1	0.78mi
129 Brighton D Boca Raton, FL	1.0	1.5	720	$1,300	$1.81	24d	1	0.78mi
251 Brighton Dr Unit 251 Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	8d	1	0.79mi
156 Brighton Dr Unit 156 Boca Raton, FL	1.0	1.5	720	$1,350	$1.88	24d	1	0.79mi
22 Brighton Dr Unit 22 Boca Raton, FL	1.0	1.0	600	$1,300	$2.17	8d	1	0.82mi
119 Dorset Dr Unit 119 Boca Raton, FL	1.0	1.0	600	$1,400	$2.33	24d	1	0.83mi
82 Fanshaw Dr Unit 82 Boca Raton, FL	1.0	1.5	702	$1,250	$1.78	24d	1	0.84mi

HOA detail condo

• Monthly dues: $662 · $7,944/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $63,800 Active 34 DOM
2. 2026-06-17
   days on market $63,800 Active 33 DOM
3. 2026-06-16
   days on market $63,800 Active 32 DOM
4. 2026-06-16
   price $63,800 Active 31 DOM
5. 2026-06-15
   days on market $69,900 Active 31 DOM
6. 2026-06-13
   days on market $69,900 Active 29 DOM
7. 2026-06-09
   days on market $69,900 Active 25 DOM
8. 2026-06-08
   days on market $69,900 Active 24 DOM
9. 2026-06-07
   days on market $69,900 Active 23 DOM
10. 2026-06-04
    days on market $69,900 Active 20 DOM
11. 2026-06-03
    days on market $69,900 Active 19 DOM
12. 2026-06-02
    days on market $69,900 Active 18 DOM
13. 2026-06-01
    days on market $69,900 Active 17 DOM
14. 2026-05-31
    days on market $69,900 Active 16 DOM
15. 2026-05-15
    listed $88,900 Active
16. 2025-11-23
    historical $1,300
17. 2025-10-31
    price $1,300
18. 2025-08-17
    listed $1,450
19. 2013-09-22
    historical
20. 1999-01-22
    listed $19,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 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: $20,265
• − Mortgage interest: −$3,574
• − Property taxes: −$957
• − Insurance: −$319
• − Repairs & maintenance: −$1,621
• − Management: −$1,621
• − HOA: −$7,944
• − Depreciation: −$1,856
• Taxable income: $2,373
• Est. tax owed @ 24.0%: −$569
• After-tax cash flow: $2,205/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

+346.7% since first listed

6 events — show timeline

• 2026-05-15 Listed $88,900 Beaches MLS
• 2025-11-23 Rental Removed $1,300 RMLSFL
• 2025-10-31 Price Changed $1,300 RMLSFL
• 2025-08-17 Listed for Rent $1,450 RMLSFL
• 2013-09-22 Listing Removed — Beaches MLS
• 1999-01-22 Listed $19,900 Beaches MLS