6500 NW 2nd Ave · Boca Raton, FL 33487

$350,000

3 bd · 2.0 ba · 1,414 sqft · SingleFamily · 34 Days on market

Built 1980 Poor condition $248/sqft · 47% below area Est $656k · 47% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +12.3/30.0
• Schools +6.1/10.0
• Livability +3.9/5.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Rent growth +3.4/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Super location, not directly on the road and back faces East with view of the community pool. GORGEOUS, HUGE, DELUXE CORNER, Condo!! Features 2 spacious master bedrooms, 2 full baths, a separate dining room, laundry room, and a convertible den (easily converted into a 3rd bedroom). Ideally located in East Boca Raton. Tile throughout Newer Appliances the best floor plan in Boca Teeca with den that can be converted to a 3rd bedroom. Large eat-in kitchen and laundry room with full size washer and dryer. Being sold Furnished. Self managed community with manager on sight. No equity required, all age community, no pets, elevator, maintenance fee includes building insurance, water, cable, inside pest control, and much much more.

Key facts

• Garden view
• Pool view
• Large screened patio

Tags

• CORNER UNIT
• NEW APPLIANCES
• IMPACT WINDOWS
• GARDEN VIEW
• POOL VIEW
• LARGE SCREENED PATIO

🏷️ Possibly a rental listed for sale. The $350,000 price doesn't fit this home's estimated sale value (~$656,297) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $350k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-65 ($-778/yr) — negative.
• To cash-flow at today's rent, offer at most $341k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $298k (14.9% below list).
• Recommended offer: $298k (14.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.3% 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: Blue Lake Elementary (731 students, 18% FRL); Boca Raton Community Middle School (math 59% / reading 61%, grade B, #135 of 571 statewide, top 24%, 1,225 students, 41% FRL); West Boca Raton High School (math 55% / reading 70%, grade B-, #93 of 667 statewide, top 14%, 2,271 students, 28% FRL) — zoned schools average 29% FRL vs 52% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.6%/yr); 456 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 51d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 37% of the median local income ($96k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 34 days — a 3% lower offer ($340k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask is 12400% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $160k; list at $350k implies a 119% 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 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $297,966 (14.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.79%
• DSCR: 0.96
• GRM: 9.8

CMA / ARV

• ARV (median comp): $656,297
• List price: $350,000
• Delta: -46.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
801 Berkeley St	0.63mi	3/2.0	1,392 (-2%)	2mo	$945,000	$679	66
7601 Texas Trl	0.76mi	3/2.0	1,422 (+1%)	7mo	$535,000	$376	58
8099 Santa Fe Trl	0.97mi	3/2.0	1,520 (+8%)	1mo	$775,000	$510	51
7195 NW 5th Ave	0.53mi	3/2.0	1,679 (+19%)	1mo	$605,000	$360	49
354 Manchester St	0.72mi	3/2.0	1,197 (-15%)	5mo	$455,000	$380	37
325 Jeffery St	0.51mi	2/2.0 (-1)	1,175 (-17%)	13mo	$430,000	$366	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.58% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.40×
• Total profit: $-59,051
• Equity at exit: $52,186

10-year hold

• IRR: -7.8%
• Equity multiple: 0.50×
• Total profit: $-49,294
• Equity at exit: $30,262

Cash invested: $98,000 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 11 active · 4 under contract
• Months of supply: 13.2 mo (8%/mo absorbed)
• Median asking: $875,000 ($520/sqft)
• Median days on market: 35 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -10.8% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33487

• Rents YoY: 3.6%
• Active inventory: 456
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,980 high
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$438 /mo · $5,250/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$626
• Net cashflow: $-65

Break-even live

Break-even rent $3,062

Max offer price $340,618

Occupancy floor 97%

Sensitivity live

Price	-10% $177	-5% $56	+0% $-65	+5% $-186	+10% $-307
Rent	-10% $-300	-5% $-183	+0% $-65	+5% $53	+10% $171
Rate	-1.0pp $111	-0.5pp $24	base $-65	+0.5pp $-156	+1.0pp $-248

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: $87,500
• Closing costs: $10,500
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6500 NW 2nd Ave #512 Boca Raton, FL	2.0	2.0	1316	$2,800	$2.13	51d	1	0.03mi
6500 NW 2nd Ave #512 Boca Raton, FL	2.0	2.0	1316	$2,800	$2.13	120d	1	0.03mi
6500 NW 2nd Ave Unit 311 Boca Raton, FL	3.0	2.0	1316	$2,850	$2.17	98d	1	0.03mi
140 NW 70th St #1020 Boca Raton, FL	2.0	2.0	1018	$2,100	$2.06	103d	1	0.09mi
140 NW 70th St #2030 Boca Raton, FL	2.0	2.0	1018	$2,500	$2.46	100d	1	0.09mi
140 NW 70th St #2040 Boca Raton, FL	2.0	2.0	1018	$2,400	$2.36	120d	1	0.09mi
6400 NW 2nd Ave #217 Boca Raton, FL	3.0	2.0	1414	$2,850	$2.02	11d	1	0.09mi
130 NW 70th St Unit 202 Boca Raton, FL	2.0	2.0	1018	$2,300	$2.26	120d	1	0.12mi
6850 NW 2nd Ave #18 Boca Raton, FL	2.0	2.0	1420	$3,300	$2.32	116d	1	0.12mi
6850 NW 2nd Ave #18 Boca Raton, FL	2.0	2.0	1420	$3,300	$2.32	50d	1	0.12mi
120 NW 70th St #103 Boca Raton, FL	2.0	2.0	1018	$2,300	$2.26	6d	1	0.14mi
120 NW 70th St #103 Boca Raton, FL	2.0	2.0	1018	$2,300	$2.26	51d	1	0.14mi
170 NW 70th St #1030 Boca Raton, FL	2.0	2.0	1018	$2,300	$2.26	10d	1	0.14mi
120 NW 70th St Unit 102 Boca Raton, FL	2.0	2.0	1018	$2,250	$2.21	120d	1	0.15mi
120 NW 70th St #1040 Boca Raton, FL	2.0	2.0	1018	$2,600	$2.55	29d	1	0.15mi
6300 NW 2nd Ave Boca Raton, FL	3.0	2.0	1300	$2,699	$2.08	39d	1	0.17mi
6300 NW 2nd Ave Boca Raton, FL	3.0	3.0	1750	$3,750	$2.14	45d	1	0.17mi
110 NW 70th St #1030 Boca Raton, FL	2.0	2.0	1018	$2,550	$2.50	87d	1	0.18mi
6461 NW 2nd Ave #1050 Boca Raton, FL	3.0	2.0	1300	$2,800	$2.15	28d	1	0.19mi
6461 NW 2nd Ave Boca Raton, FL	2.0	2.0	1300	$2,148	$1.65	120d	2	0.19mi
6461 NW 2nd Ave Boca Raton, FL	2.0–3.0	2.0	1175	$2,700	$2.30	11d	3	0.19mi
159 NW 70th St #416 Boca Raton, FL	2.0	2.0	995	$2,700	$2.71	61d	1	0.25mi
149 NW 70th St Unit 101C Boca Raton, FL	2.0	2.5	1300	$2,750	$2.12	27d	1	0.25mi
149 NW 70th St Unit 101C Boca Raton, FL	2.0	2.5	1300	$2,750	$2.12	120d	1	0.25mi
6200 NW 2nd Ave Apt 316 Boca Raton, FL	2.0	2.0	1305	$2,350	$1.80	7d	1	0.26mi
209 Coventry St Boca Raton, FL	3.0	2.0	1147	$3,500	$3.05	36d	1	0.26mi
209 Coventry St Boca Raton, FL	3.0	2.0	1147	$3,500	$3.05	41d	1	0.26mi
209 Coventry St Boca Raton, FL	3.0	2.0	1147	$3,500	$3.05	61d	1	0.26mi
6420 N Dixie Hwy Boca Raton, FL	4.0	2.0	1456	$3,500	$2.40	42d	1	0.27mi
6410 N Dixie Hwy Boca Raton, FL	2.0	1.5	1108	$2,100	$1.90	30d	1	0.27mi
159 NW 70th St Boca Raton, FL	2.0	2.0	995	$2,450	$2.46	48d	2	0.29mi
159 NW 70th St Boca Raton, FL	2.0	2.0	995	$2,350	$2.36	33d	2	0.29mi
159 NW 70th St Boca Raton, FL	2.0	2.0	995	$2,275	$2.29	83d	2	0.29mi
6161 NW 2nd Ave Unit 520 Boca Raton, FL	2.0	2.0	1200	$2,195	$1.83	120d	1	0.31mi
6161 NW 2nd Ave Boca Raton, FL	2.0	2.0	1200	$2,200	$1.83	94d	1	0.31mi
6161 NW 2nd Ave Boca Raton, FL	2.0	2.0	1050	$2,450	$2.33	45d	1	0.31mi
6000 NW 2nd Ave Unit 338 Boca Raton, FL	2.0	2.0	1300	$2,450	$1.88	79d	1	0.31mi
6100 NW 2nd Ave Unit 329 Boca Raton, FL	2.0	2.0	1300	$2,800	$2.15	58d	1	0.32mi
7200 NW 2nd Ave #260 Boca Raton, FL	2.0	2.0	1054	$2,400	$2.28	49d	1	0.32mi
7200 NW 2nd Ave #160 Boca Raton, FL	2.0	2.0	1054	$2,400	$2.28	116d	1	0.32mi

Listing history 18 events

1. 2026-06-15
   days on market $350,000 Active 34 DOM
2. 2026-06-13
   days on market $350,000 Active 32 DOM
3. 2026-06-09
   days on market $350,000 Active 28 DOM
4. 2026-06-07
   days on market $350,000 Active 26 DOM
5. 2026-06-04
   days on market $350,000 Active 23 DOM
6. 2026-06-03
   days on market $350,000 Active 22 DOM
7. 2026-06-01
   days on market $350,000 Active 20 DOM
8. 2026-05-31
   days on market $350,000 Active 19 DOM
9. 2026-05-12
   listed $350,000 Active
10. 2026-05-08
    historical $2,800
11. 2026-03-14
    listed $2,800
12. 2024-04-22
    historical $3,000
13. 2024-03-19
    listed $3,000
14. 2023-11-18
    historical $3,000
15. 2023-09-25
    listed $3,000
16. 2014-03-12
    soldstatus $160,000 Closed 731-char remark

    Show marketing remark (731 chars)

    Super location, not directly on the road and back faces East with view of the community pool. GORGEOUS, HUGE, DELUXE CORNER, Condo!! Features 2 spacious master bedrooms, 2 full baths, a separate dining room, laundry room, and a convertible den (easily converted into a 3rd bedroom). Ideally located in East Boca Raton. Tile throughout Newer Appliances the best floor plan in Boca Teeca with den that can be converted to a 3rd bedroom. Large eat-in kitchen and laundry room with full size washer and dryer. Being sold Furnished. Self managed community with manager on sight. No equity required, all age community, no pets, elevator, maintenance fee includes building insurance, water, cable, inside pest control, and much much more.

17. 2014-02-24
    status Pending 731-char remark

    Show marketing remark (731 chars)

    Super location, not directly on the road and back faces East with view of the community pool. GORGEOUS, HUGE, DELUXE CORNER, Condo!! Features 2 spacious master bedrooms, 2 full baths, a separate dining room, laundry room, and a convertible den (easily converted into a 3rd bedroom). Ideally located in East Boca Raton. Tile throughout Newer Appliances the best floor plan in Boca Teeca with den that can be converted to a 3rd bedroom. Large eat-in kitchen and laundry room with full size washer and dryer. Being sold Furnished. Self managed community with manager on sight. No equity required, all age community, no pets, elevator, maintenance fee includes building insurance, water, cable, inside pest control, and much much more.

18. 2014-01-09
    listed $169,900 Active 731-char remark

    Show marketing remark (731 chars)

    Super location, not directly on the road and back faces East with view of the community pool. GORGEOUS, HUGE, DELUXE CORNER, Condo!! Features 2 spacious master bedrooms, 2 full baths, a separate dining room, laundry room, and a convertible den (easily converted into a 3rd bedroom). Ideally located in East Boca Raton. Tile throughout Newer Appliances the best floor plan in Boca Teeca with den that can be converted to a 3rd bedroom. Large eat-in kitchen and laundry room with full size washer and dryer. Being sold Furnished. Self managed community with manager on sight. No equity required, all age community, no pets, elevator, maintenance fee includes building insurance, water, cable, inside pest control, and much much more.

ⓘ 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 ≥106°F today · 23 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: $35,756
• − Mortgage interest: −$19,605
• − Property taxes: −$5,250
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,860
• − Management: −$2,860
• − Depreciation: −$10,182
• Taxable loss: −$6,752
• Est. tax savings @ 24.0%: +$1,621
• After-tax cash flow: $842/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab Est. rehab $70,700–$127,260 screening

This corner unit requires extensive repairs and maintenance, including exterior painting, landscaping, and structural repairs, to become move-in ready and increase its value.

Repairs flagged

• Major exterior siding — Severe weathering and peeling
• Major exterior paint — Severe peeling and discoloration
• Major landscaping — Overgrown bushes and poor curb appeal

Value-add opportunities

• Both exterior painting — Enhances curb appeal and resale value ↑
• Both landscaping — Improves curb appeal and rental value ↑
• Both exterior repairs — Restores structural integrity and enhances resale value ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 61/100

Zoned Schools

Elementary Blue Lake Elementary Middle Boca Raton Community Middle School B FL #135/571 Nat'l #1,793/14,009 High West Boca Raton High School B- FL #93/667 Nat'l #3,176/17,239

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

B Composite livability gradescore 77/100

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

• Census place: Boca Raton, FL
• County: Palm Beach County · 1,637,487 people
• City population: 250,102
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 20,717
• Household income: $96,066
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 14% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 13% Two or more races 11% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 1%
• Common ancestry: Romanian 7% Scotch-Irish 5% Lithuanian 2%
• Foreign-born: 21% · Canada, Jamaica, China
• Languages at home: 77% English-only · Spanish 10% Other Indo-European 4% Russian/Polish/Slavic 3%

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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: ▼ -331.59%
• Current HPI: 352.5852
• Rent YoY: ▲ 3.58%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

-98.4% since first listed

9 events — show timeline

• 2026-05-08 Rental Removed $2,800 SHOWMOJO
• 2026-03-14 Listed for Rent $2,800 SHOWMOJO
• 2024-04-22 Rental Removed $3,000 RMLSFL
• 2024-03-19 Listed for Rent $3,000 RMLSFL
• 2023-11-18 Rental Removed $3,000 RMLSFL
• 2023-09-25 Listed for Rent $3,000 RMLSFL
• 2014-03-12 Sold (MLS) $160,000 Beaches MLS
• 2014-02-24 Pending — Beaches MLS
• 2014-01-09 Listed $169,900 Beaches MLS