5951 Wellesley Park Dr #507 · Boca Raton, FL 33433

$333,000

2 bd · 2.0 ba · 1,600 sqft · Condo public records · 16 Days on market

Built 1982 $850/mo HOA · 24% of rent

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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).

• Cash flow +11.9/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• DSCR +3.5/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Corner Unit in the Heart of Boca Raton! Located in all-age community of Wellesley Park, spacious condo offers breathtaking sunset views from two oversized private screened balconies. Open living and dining areas flow seamlessly into the kitchen, creating an inviting space for both everyday living and entertaining. A full-size washer & dryer add convenience. Expansive primary suite features a beautifully remodeled en-suite bathroom and a generous walk-in closet. Tile flooring runs throughout the home, while the desirable split-bedroom floor plan provides privacy and flexibility. Large sliding patio doors fill the residence with natural light, and as high-end hurricane-impact offer adde

Key facts

• Corner unit
• Tile flooring
• $850 HOA

Tags

• CORNER UNIT
• OPEN LIVING AND DINING AREAS
• FULL-SIZE WASHER AND DRYER
• REMODELED EN-SUITE BATHROOM
• GENEROUS WALK-IN CLOSET
• TILE FLOORING

Property features AI

Finance

• Other: Public records list living area/building area as 1,600
• HOA & community: Association managed by Grant Property Management Company; Monthly HOA fee of 850; HOA covers cable TV, insurance, grounds maintenance, trash, common areas, and elevator; Community amenities include elevator(s), parking, pool, spa/hot tub, and lobby; 53 units in the community; Pets not allowed

Exterior

• Parking: Covered and open guest parking; Total 1 assigned parking (plus 53 open parking spaces in community)
• Security: Closed-circuit cameras; Smoke detectors; Entry phone/intercom
• Utilities: Public water; Public sewer; Electricity available; Cable available; Phone connected
• Home design: Condominium; One-level residence; Resale property; Located on entry level 5; Faces north; Building name: WELLESLEY PARK; 7-story building
• Construction: Concrete/CBS construction; Composition shingle roof
• Exterior features: Covered patio; Screened patio; Patio; Cul-de-sac setting; Sidewalks; Landscaped grounds; City street frontage; Not waterfront

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Disposal
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Tile; Wood
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air; Ceiling fan(s); Electric cooling
• Interior features: Entrance foyer; Walk-in closets; Split bedroom layout; Closet cabinetry
• Laundry & utility: Washer hookup; Laundry closet inside (in kitchen)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $333k.

Deal economics

• At list price, monthly cash flow is $-83 ($-998/yr) — negative.
• To cash-flow at today's rent, offer at most $318k (4.4% below list).
• Meets the 1% rule at list price ($4k rent vs $333k).
• Recommended offer: $318k (4.4% below list) — sets the bar for cash-flow.
• Cap rate 6.0% 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: Verde K-8 (math 72% / reading 74%, grade A, #271 of 2,144 statewide, top 13%, 1,296 students, 28% 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 32% FRL vs 52% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 65% at this address vs 50% district-wide (+16 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 flat; 436 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $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 16 days — a 2% lower offer ($328k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 27y 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 $85k; list at $333k implies a 292% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% 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 $318,306 (4.4% 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. 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. 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 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: 1.06% ✓
• Cap rate: 5.99%
• Cash-on-cash: -1.07%
• DSCR: 0.95
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.33% rent growth · sell at horizon

5-year hold

• IRR: -21.7%
• Equity multiple: 0.27×
• Total profit: $-68,081
• Equity at exit: $49,651

10-year hold

• IRR: -26.4%
• Equity multiple: -0.08×
• Total profit: $-100,357
• Equity at exit: $28,792

Cash invested: $93,240 (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 33433

• Rents YoY: 0.3%
• Active inventory: 436
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $3,525 high
• Mortgage (P&I): −$1,746
• Tax from tax record: −$133 /mo · $1,597/yr
• Insurance: −$139
• HOA: −$850
• Vacancy / Maint / Mgmt: −$740
• Net cashflow: $-83

Break-even live

Break-even rent $3,631

Max offer price $318,306

Occupancy floor 97%

Sensitivity live

Price	-10% $105	-5% $11	+0% $-83	+5% $-177	+10% $-272
Rent	-10% $-362	-5% $-222	+0% $-83	+5% $56	+10% $195
Rate	-1.0pp $85	-0.5pp $2	base $-83	+0.5pp $-169	+1.0pp $-257

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: $83,250
• Closing costs: $9,990
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5653 Stradella Dr Boca Raton, FL	3.0	2.5	1826	$5,450	$2.98	6d	1	0.21mi
5653 Stradella Dr Boca Raton, FL	3.0	2.5	1826	$5,450	$2.98	26d	1	0.21mi
6075 Glendale Dr Unit 6075 Boca Raton, FL	3.0	2.5	2105	$3,960	$1.88	18d	1	0.22mi
5851 Camino del Sol #203 Boca Raton, FL	2.0	2.0	1254	$2,800	$2.23	26d	1	0.22mi
23085 Aqua Vw #3 Boca Raton, FL	3.0	2.5	1625	$3,500	$2.15	26d	1	0.24mi
22861 Ironwedge Dr Boca Raton, FL	3.0	2.5	2105	$4,500	$2.14	20d	1	0.24mi
566401 Arbor Club Way Boca Raton, FL	1.0–2.0	1.0–2.0	917	$3,033	$3.31	1d	24	0.25mi
5749 Camino del Sol #202 Boca Raton, FL	2.0	2.0	1254	$3,000	$2.39	26d	1	0.25mi
22655 Camino del Mar Boca Raton, FL	3.0–5.0	2.5–3.0	2173	$4,925	$2.27	3d	11	0.32mi
23126 Post Gardens Way Boca Raton, FL	1.0–2.0	1.0–2.0	883	$2,095	$2.37	1d	8	0.32mi
5800 Camino del Sol #306 Boca Raton, FL	2.0	2.0	1230	$2,775	$2.26	26d	1	0.35mi
5900 Camino del Sol #206 Boca Raton, FL	2.0	2.0	1230	$2,450	$1.99	26d	1	0.35mi
22812 Caciano Rd Boca Raton, FL	3.0	2.5	2102	$6,110	$2.91	4d	1	0.35mi
5500 Pacific Blvd Boca Raton, FL	1.0–2.0	1.0–2.0	1063	$2,625	$2.47	0d	13	0.40mi
5714 Veranda Way Unit 2 Boca Raton, FL	3.0	2.5	1640	$5,160	$3.15	26d	1	0.43mi
5515 Pacific Blvd Boca Raton, FL	1.0–2.0	1.0–2.0	910	$2,530	$2.78	0d	17	0.45mi
6168 La Vida Ter Boca Raton, FL	3.0	3.0	2170	$4,200	$1.94	6d	1	0.49mi
22864 Marbella Cir Boca Raton, FL	3.0	2.0	1872	$4,500	$2.40	5d	1	0.53mi
6061 Balboa Cir #206 Boca Raton, FL	2.0	2.0	1385	$2,650	$1.91	0d	1	0.55mi
6372 La Costa Dr #306 Boca Raton, FL	2.0	2.0	1388	$2,750	$1.98	26d	1	0.57mi
6049 Balboa Cir #302 Boca Raton, FL	2.0	2.0	1385	$2,600	$1.88	22d	1	0.57mi
6463 La Costa Dr #203 Boca Raton, FL	2.0	2.0	1310	$2,400	$1.83	5d	1	0.66mi
6463 La Costa Dr #301 Boca Raton, FL	2.0	2.0	1388	$2,900	$2.09	26d	1	0.66mi
6553 Via Regina Boca Raton, FL	2.0	2.0	1126	$3,500	$3.11	26d	1	0.75mi
6707 Via Regina Boca Raton, FL	2.0	2.0	1126	$4,000	$3.55	26d	1	0.75mi
6682 Via Regina Boca Raton, FL	3.0	3.0	1630	$3,350	$2.06	13d	1	0.75mi
6817 Via Regina Boca Raton, FL	3.0	2.5	1728	$4,200	$2.43	26d	1	0.75mi
6688 Via Regina Boca Raton, FL	2.0	3.0	1985	$4,500	$2.27	26d	1	0.75mi
6630 Via Regina Boca Raton, FL	2.0	2.0	1126	$2,500	$2.22	26d	1	0.75mi
6703 Via Regina Boca Raton, FL	2.0	2.0	1126	$2,700	$2.40	26d	1	0.75mi
6526 Via Regina Boca Raton, FL	2.0	2.0	1090	$2,750	$2.52	26d	1	0.75mi
23045 Clear Echo Dr #76 Boca Raton, FL	3.0	2.5	2106	$4,500	$2.14	26d	1	0.75mi
6540 Via Rosa Boca Raton, FL	2.0	2.0	1831	$3,500	$1.91	1d	1	0.76mi
665 Deer Creek Hollows Cir Deerfield Beach, FL	3.0	2.0	1615	$4,500	$2.79	7d	1	0.77mi
22148 Boca Place Dr Boca Raton, FL	1.0–3.0	1.0–2.0	985	$2,534	$2.57	0d	22	0.79mi
6061 Boca Colony Dr Boca Raton, FL	1.0–3.0	1.0–2.0	972	$2,289	$2.35	0d	20	0.84mi
6620 Tiburon Cir Unit 3 Boca Raton, FL	2.0	2.0	1382	$2,900	$2.10	6d	1	0.89mi
6620 Tiburon Cir Unit 3 Boca Raton, FL	2.0	2.0	1382	$2,900	$2.10	16d	1	0.89mi
6314 Longboat Ln W Boca Raton, FL	2.0	2.0	1368	$3,300	$2.41	1d	1	0.95mi
6530 Boca del Mar Dr #336 Boca Raton, FL	2.0	2.0	1339	$2,600	$1.94	19d	1	0.97mi

HOA detail condo

• Monthly dues: $850 · $10,200/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-21
   days on market $333,000 Active 16 DOM
2. 2026-06-18
   days on market $333,000 Active 13 DOM
3. 2026-06-17
   days on market $333,000 Active 12 DOM
4. 2026-06-16
   days on market $333,000 Active 11 DOM
5. 2026-06-15
   days on market $333,000 Active 10 DOM
6. 2026-06-13
   days on market $333,000 Active 8 DOM
7. 2026-06-09
   days on market $333,000 Active 4 DOM
8. 2026-06-08
   days on market $333,000 Active 3 DOM
9. 2026-06-07
   remarks 695-char remark
10. 2026-06-07
    listed $333,000 Active 2 DOM

ⓘ 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: $1,597 · $133/mo
• Projected year-2 tax: $2,764 · $230/mo
• Expected delta: +$1,167/yr (+$97/mo · 73.1%)

ⓘ 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 ≥107°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,303
• − Mortgage interest: −$18,653
• − Property taxes: −$1,597
• − Insurance: −$1,665
• − Repairs & maintenance: −$3,384
• − Management: −$3,384
• − HOA: −$10,200
• − Depreciation: −$9,687
• Taxable loss: −$6,268
• Est. tax savings @ 24.0%: +$1,504
• After-tax cash flow: $506/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): 47,005
• Household income: $84,091
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 2900.0

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% Hispanic / Latino 18% Two or more races 15% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 2% Dominican 1%
• Common ancestry: Romanian 6% Scotch-Irish 5% Russian 3%
• Foreign-born: 27% · Canada, Jamaica, China
• Languages at home: 65% English-only · Spanish 15% Other Indo-European 10% Russian/Polish/Slavic 3%

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: ▼ -227.85%
• Current HPI: 306.738
• Rent YoY: ▲ 0.33%
• 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

+250.5% since first listed

9 events — show timeline

• 2026-06-05 Listed $333,000 Beaches MLS
• 2014-10-15 Listing Removed — Beaches MLS
• 2013-12-02 Listing Removed — Beaches MLS
• 2007-03-03 Listed $279,000 Beaches MLS
• 2006-08-04 Listed $299,000 Beaches MLS
• 1999-11-20 Sold (Public Records) $85,000 Public Records
• 1999-11-12 Sold (MLS) $85,000 Beaches MLS
• 1999-10-19 Listing Removed — Beaches MLS
• 1999-08-31 Listed $95,000 Beaches MLS

Property tax history

+1.7%/yr

Latest (2025): $1,597 · +3.7% YoY. Source: county tax records.