4866 Equestrian Rd Unit A · Golf, FL 33436

$218,000

2 bd · 2.0 ba · 1,400 sqft · Condo public records · 196 Days on market

Built 1979 $580/mo HOA · 22% 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 +18.5/30.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• DSCR +5.8/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Great location, A little piece of country feeling when you enter this home. This well-maintained villa can be yours to update as you like. Priced to sell. Community amenities include: Six sparkling Pools, Exterior Maintenance, Roof Maintenance and Lawn Care, and Water, Basic Cable, and Internet. Conveniently located near I-95, the Turnpike, and local shopping.

Key facts

• Exterior maintenance
• Community amenities
• Six sparkling pools

Tags

• GREAT LOCATION
• COMMUNITY AMENITIES
• SIX SPARKLING POOLS
• EXTERIOR MAINTENANCE
• ROOF MAINTENANCE
• LAWN CARE

Property features AI

Finance

• Other: Senior community; Association fee includes cable TV, water, sewer, trash, common area maintenance, and grounds maintenance; Community contains 651 units; Pets not allowed
• Financial info: Monthly HOA fee
• HOA & community: Homeowners association (monthly dues); HOA amenities: clubhouse, pool, billiard room, library, manager on site

Exterior

• Parking: Attached 1-car garage with garage door opener; 1 covered parking space; 1 open parking space
• Utilities: Public water; Public sewer; Three-phase electric service; Cable available
• Home design: Villa; Single-story; Faces north; Resale property
• Construction: CBS construction; Composition/shingle roof
• Exterior features: No waterfront; Community sidewalks

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: Pull-down attic stairs; Partially furnished; Blinds and drapes
• Laundry & utility: Laundry area inside the home; Laundry located in the garage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $218k.

Deal economics

• At list price, monthly cash flow is $208 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $218k).
• Recommended offer: $192k (12.0% 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.
• Market conditions: Rents soft (-0.6%/yr); 457 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• This rent runs 42% of the median local income ($76k/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 $7k 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 196 days — a 12% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $71k; list at $218k implies a 207% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% 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 $191,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 196 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.21% ✓
• Cap rate: 7.44%
• Cash-on-cash: 4.09%
• DSCR: 1.18
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.52×
• Total profit: $-29,556
• Equity at exit: $32,505

10-year hold

• IRR: -12.5%
• Equity multiple: 0.38×
• Total profit: $-37,555
• Equity at exit: $18,849

Cash invested: $61,040 (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 33436

• Home prices YoY: -26.0%
• Rents YoY: -0.6%
• Active inventory: 457
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,648 high
• Mortgage (P&I): −$1,143
• Tax from tax record: −$70 /mo · $841/yr
• Insurance: −$91
• HOA: −$580
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $208

Break-even live

Break-even rent $2,385

Max offer price $218,000

Occupancy floor 87%

Sensitivity live

Price	-10% $332	-5% $270	+0% $208	+5% $146	+10% $85
Rent	-10% $-1	-5% $104	+0% $208	+5% $313	+10% $417
Rate	-1.0pp $318	-0.5pp $264	base $208	+0.5pp $152	+1.0pp $94

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: $54,500
• Closing costs: $6,540
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4907 Boxwood Cir Boynton Beach, FL	3.0	2.0	1731	$2,900	$1.68	25d	1	0.08mi
4944 Equestrian Cir Unit A Boynton Beach, FL	2.0	2.0	1400	$2,500	$1.79	8d	1	0.12mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,394	$2.39	4d	1	0.24mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,346	$2.34	15d	1	0.24mi
5217 Cedar Lake Rd Boynton Beach, FL	1.0–3.0	1.0–2.0	1030	$2,266	$2.20	3d	51	0.35mi
10592 Tropic Palm Ave #202 Boynton Beach, FL	2.0	2.0	1385	$2,450	$1.77	25d	1	0.56mi
9935 Pineapple Tree Dr #202 Boynton Beach, FL	2.0	2.0	1008	$2,575	$2.55	16d	1	0.56mi
10624 Tropic Palm Ave #202 Boynton Beach, FL	3.0	2.0	1385	$2,550	$1.84	25d	1	0.59mi
10187 Mangrove Dr #104 Boynton Beach, FL	2.0	2.0	1260	$2,350	$1.87	25d	1	0.60mi
9900 Pineapple Tree Dr #106 Boynton Beach, FL	2.0	2.0	1008	$2,250	$2.23	25d	1	0.61mi
4525 Nutmeg Tree Ln Unit A Boynton Beach, FL	2.0	2.0	1404	$3,000	$2.14	25d	1	0.64mi
9940 Bauhinia Tree Way Unit B Boynton Beach, FL	1.0	1.0	1200	$1,800	$1.50	8d	1	0.66mi
9940 Bauhinia Tree Way Unit B Boynton Beach, FL	1.0	1.0	1200	$2,000	$1.67	25d	1	0.66mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$3,000	$2.39	25d	1	0.73mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$2,950	$2.35	3d	1	0.73mi
5157 Floria Way Unit J Boynton Beach, FL	3.0	2.0	1447	$3,300	$2.28	25d	1	0.75mi
5133 Brisata Cir Unit P Boynton Beach, FL	3.0	2.0	1374	$2,800	$2.04	25d	1	0.76mi
4419 Sanderling Cir E Boynton Beach, FL	3.0	3.5	1866	$10,000	$5.36	25d	1	0.79mi
4249 Quail Ridge Dr N Unit A Boynton Beach, FL	2.0	2.0	1212	$4,000	$3.30	25d	1	0.88mi
5155 Europa Dr Unit J Boynton Beach, FL	3.0	2.0	1333	$2,750	$2.06	25d	1	0.88mi
11115 Oakdale Rd Boynton Beach, FL	3.0	2.0	1713	$4,200	$2.45	25d	1	0.89mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,311	$2.27	0d	19	0.90mi
10921 Royal Caribbean Cir Boynton Beach, FL	3.0	2.0	1782	$3,800	$2.13	25d	1	0.90mi
10921 Royal Caribbean Cir Boynton Beach, FL	3.0	2.0	1762	$3,800	$2.16	5d	1	0.90mi
5418 Firenze Dr Unit P Boynton Beach, FL	2.0	2.0	1139	$2,400	$2.11	4d	1	0.91mi
11211 S Military Trl Boynton Beach, FL	1.0–3.0	1.0–2.0	1033	$2,238	$2.17	0d	31	0.94mi
10596 Sunset Isles Ct Boynton Beach, FL	3.0	2.0	1769	$4,500	$2.54	25d	1	0.95mi
4116 Quail Ridge Dr N Unit A Boynton Beach, FL	2.0	2.0	1267	$3,800	$3.00	25d	1	0.98mi
5299 Europa Dr Unit P Boynton Beach, FL	3.0	2.0	1606	$3,000	$1.87	15d	1	0.99mi
9498 S Military Trl #5 Boynton Beach, FL	3.0	2.5	1317	$2,900	$2.20	25d	1	1.00mi
5275 Europa Dr Unit I Boynton Beach, FL	3.0	2.0	1282	$2,500	$1.95	3d	1	1.01mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,315	$1.93	5d	1	1.01mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,267	$1.89	23d	1	1.01mi
5234 Europa Dr Unit A Boynton Beach, FL	3.0	2.0	1578	$2,500	$1.58	20d	1	1.07mi
5895 Autumn Lake Ln Unit A Boynton Beach, FL	3.0	2.0	1469	$2,600	$1.77	25d	1	1.11mi
5373 Mirror Lakes Blvd Boynton Beach, FL	3.0	2.0	1310	$2,100	$1.60	25d	1	1.14mi
9842 Kamena Cir Boynton Beach, FL	3.0	2.5	1596	$2,800	$1.75	25d	1	1.18mi
9766 Kamena Cir Boynton Beach, FL	3.0	2.5	1596	$3,300	$2.07	6d	1	1.18mi
6037 Rossmoor Lakes Ct Boynton Beach, FL	3.0	2.0	1617	$4,700	$2.91	25d	1	1.18mi
10111 Quail Covey Rd Unit Hibiscus Boynton Beach, FL	2.0	2.0	1737	$4,900	$2.82	25d	1	1.18mi

HOA detail condo

• Monthly dues: $580 · $6,960/yr
• Likely covers: waterinternetcablelandscapingexterior maint.roofpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-21
   days on market $218,000 Active 196 DOM
2. 2026-06-18
   days on market $218,000 Active 193 DOM
3. 2026-06-17
   days on market $218,000 Active 192 DOM
4. 2026-06-16
   days on market $218,000 Active 191 DOM
5. 2026-06-15
   days on market $218,000 Active 190 DOM
6. 2026-06-13
   days on market $218,000 Active 188 DOM
7. 2026-06-09
   days on market $218,000 Active 184 DOM
8. 2026-06-07
   days on market $218,000 Active 182 DOM
9. 2026-06-04
   days on market $218,000 Active 179 DOM
10. 2026-06-03
    days on market $218,000 Active 178 DOM
11. 2026-06-01
    days on market $218,000 Active 176 DOM
12. 2026-05-31
    days on market $218,000 Active 175 DOM
13. 2025-12-05
    listed $228,000 Active
14. 1998-06-18
    soldstatus $71,000

ⓘ 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: $841 · $70/mo
• Projected year-2 tax: $1,809 · $151/mo
• Expected delta: +$969/yr (+$81/mo · 115.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,781
• − Mortgage interest: −$12,211
• − Property taxes: −$841
• − Insurance: −$1,090
• − Repairs & maintenance: −$2,543
• − Management: −$2,543
• − HOA: −$6,960
• − Depreciation: −$6,342
• Taxable loss: −$747
• Est. tax savings @ 24.0%: +$179
• After-tax cash flow: $2,677/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): 48,743
• Household income: $75,789
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 1813.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 52% Black 24% Hispanic / Latino 19% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 3% Dominican 1%
• Common ancestry: Hispanic 12% Romanian 3% Scotch-Irish 2%
• Foreign-born: 27% · Canada, Jamaica, Vietnam
• Languages at home: 64% English-only · Spanish 14% French/Haitian/Cajun 13% 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: ▼ -109.59%
• Current HPI: 311.7742
• Rent YoY: ▼ -0.57%
• 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

+221.1% since first listed

2 events — show timeline

• 2025-12-05 Listed $228,000 Beaches MLS
• 1998-06-18 Sold (Public Records) $71,000 Public Records

Property tax history

-0.8%/yr

Latest (2025): $841 · +2.9% YoY. Source: county tax records.