11 SW 4th Ave #10 · Boca Raton, FL 33432

$149,900

1 bd · 1.0 ba · 567 sqft · Condo public records · 99 Days on market

Built 1963 $300/mo HOA · 14% 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 +27.4/30.0
• 1% rule +9.7/10.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

LOVELY 1 BR / 1 Bath unit located in EAST BOCA. LOCATION, LOCATION, LOCATION: located just west of Federal Highway and South of Palmetto Park Road. This boutique complex is close to BOCA's beautiful BEACH, MIZNER PARK shopping area and Amphitheater. Live in EAST BOCA without breaking the bank! Low HOA Fees! Numerous shops and restaurants in the area. BRIGHTLINE Station less than a mile away. NO LEASING, NO PETS, 53+ COMMUNITY. NO LAND LEASE! Must see to appreciate!

Key facts

• Low hoa fees
• Boutique complex
• restaurants

Tags

• BOUTIQUE COMPLEX
• LOW HOA FEES
• NUMEROUS SHOPS
• RESTAURANTS
• BRIGHTLINE STATION

Property features AI

Finance

• Other: Building area reported as 568 total; living area reported as 567
• Financial info: No land lease
• HOA & community: Association exists; monthly fee $300; HOA fee covers insurance, grounds maintenance, structure maintenance, sewer, water, common areas, and roof repairs; Community is a senior community; Association amenity: parking

Exterior

• Parking: Assigned parking plus guest parking (total 1 open parking space)
• Security: No pets allowed
• Utilities: Public water; Public sewer; Cable available; Electricity available; Water available; Sewer available
• Home design: Stock cooperative; Resale unit; 2-story building; Faces south; West of US-1 frontage
• Construction: Block construction
• Exterior features: Not waterfront

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Wall/window air conditioning units
• Interior features: No interior features listed; Furnishings negotiable
• Laundry & utility: Common area laundry; Outdoor laundry area; Electric water heater (owned); Water heater owned

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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: schools A+, employment A+, health & safety A+; 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.
• Market conditions: Rents rising fast (+4.6%/yr); 472 active listings in the ZIP; 37 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 $1k of loan paydown is wiped out by about $4k 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 + 4.6% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — 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. 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?
8. 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.
9. 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.
10. 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: 1.47% ✓
• Cap rate: 9.81%
• Cash-on-cash: 12.56%
• DSCR: 1.56
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.56% rent growth · sell at horizon

5-year hold

• IRR: 4.5%
• Equity multiple: 1.18×
• Total profit: $7,404
• Equity at exit: $22,351

10-year hold

• IRR: 15.6%
• Equity multiple: 2.39×
• Total profit: $58,191
• Equity at exit: $12,961

Cash invested: $41,972 (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 33432

• Rents YoY: 4.6%
• Active inventory: 472
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,209 high
• Mortgage (P&I): −$786
• Tax from tax record: −$157 /mo · $1,884/yr
• Insurance: −$62
• HOA: −$300
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $439

Break-even live

Break-even rent $1,653

Max offer price $149,900

Occupancy floor 75%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
320 W Palmetto Park Rd Boca Raton, FL	3.0	1.0–3.0	1213	$2,663	$2.19	2d	27	0.08mi
550 SW 2nd St #125 Boca Raton, FL	1.0	1.0	374	$2,150	$5.75	5d	1	0.26mi
131 S Federal Hwy Boca Raton, FL	1.0–2.0	1.0–2.0	778	$2,149	$2.76	2d	12	0.44mi
373 NW 4th Diagonal Boca Raton, FL	1.0	1.0	600	$1,793	$2.99	22d	1	0.51mi
431 W Camino Real Boca Raton, FL	1.0	1.0	500	$1,600	$3.20	24d	1	0.52mi
9 Plaza Real S Boca Raton, FL	2.0	1.0–2.0	795	$3,275	$4.12	3d	15	0.56mi
33 SE 8th St Boca Raton, FL	3.0	1.0–2.0	915	$2,927	$3.20	1d	20	0.63mi
200 E Royal Palm Rd #4080 Boca Raton, FL	1.0	1.5	733	$2,499	$3.41	24d	1	0.69mi
642 NW 13th St #35 Boca Raton, FL	1.0	1.0	635	$1,750	$2.76	21d	1	0.70mi
644 NW 13th St #35 Boca Raton, FL	1.0	1.0	700	$1,650	$2.36	11d	1	0.71mi
624 NW 13th St #22 Boca Raton, FL	—	1.0	432	$1,500	$3.47	24d	1	0.74mi
101 SW 12th St Boca Raton, FL	1.0	1.0	575	$1,813	$3.15	2d	8	0.76mi
101 E Camino Real Boca Raton, FL	3.0	1.0–2.5	1077	$4,312	$4.00	2d	8	0.77mi
620 NW 13th St #15 Boca Raton, FL	1.0	1.0	700	$1,850	$2.64	8d	1	0.80mi
50 SE 12th St #1520 Boca Raton, FL	1.0	1.0	675	$1,750	$2.59	20d	1	0.82mi
616 NW 13th St #250 Boca Raton, FL	1.0	1.0	700	$1,700	$2.43	24d	1	0.84mi
616 NW 13th St #24 Boca Raton, FL	1.0	1.0	700	$1,750	$2.50	24d	1	0.84mi
333 E Palmetto Park Rd Boca Raton, FL	1.0–3.0	1.0–2.5	1432	$3,159	$2.21	2d	24	0.86mi
30 SE 13th St Unit A2 Boca Raton, FL	1.0	1.0	704	$1,600	$2.27	24d	1	0.91mi
100 SW 14th St Boca Raton, FL	1.0–3.0	1.0–2.0	917	$1,713	$1.87	2d	1	0.92mi
1361 S Federal Hwy Boca Raton, FL	1.0	1.0	750	$2,324	$3.10	8d	1	0.95mi
1721 NW 15th Vis Boca Raton, FL	—	1.0	550	$1,695	$3.08	20d	1	1.07mi
1675 NW 4th Ave Boca Raton, FL	1.0	1.0	710	$2,115	$2.98	22d	10	1.12mi
340 NW 19th St #2030 Boca Raton, FL	1.0	1.0	552	$1,900	$3.44	18d	1	1.15mi
260 NW 19th St #27 Boca Raton, FL	2.0	1.0	750	$2,000	$2.67	5d	1	1.16mi
260 NW 19th St #290 Boca Raton, FL	2.0	1.0	750	$1,950	$2.60	24d	1	1.16mi
55 NE Spanish Trl #1030 Boca Raton, FL	1.0	1.0	584	$2,400	$4.11	24d	1	1.18mi
289 NW 19th St Boca Raton, FL	1.0	1.0	720	$1,745	$2.42	24d	1	1.21mi
1908 NW 4th Ave Boca Raton, FL	1.0–3.0	1.0–2.0	820	$1,695	$2.07	24d	1	1.26mi
289 NE 15th Ter Unit 3 Boca Raton, FL	—	1.0	400	$1,200	$3.00	24d	1	1.26mi
1200 NW 13th St Boca Raton, FL	1.0–2.0	1.0	700	$1,675	$2.39	15d	1	1.28mi
200 NE 20th St Boca Raton, FL	1.0–2.0	1.0	784	$2,020	$2.58	22d	3	1.31mi
1075 Spanish River Rd Unit 7 Boca Raton, FL	1.0	1.0	500	$4,975	$9.95	24d	1	1.35mi
1271 NW 13th St Boca Raton, FL	1.0	1.0	729	$1,872	$2.57	18d	2	1.40mi
1271 NW 13th St Boca Raton, FL	1.0	1.0	729	$1,825	$2.50	11d	2	1.40mi
201 S Ocean Blvd Unit 7 Boca Raton, FL	—	1.0	600	$2,000	$3.33	14d	1	1.45mi
201 S Ocean Blvd Apt 2 Boca Raton, FL	—	1.0	600	$2,000	$3.33	24d	1	1.45mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $149,900 Active 99 DOM
2. 2026-06-17
   days on market $149,900 Active 98 DOM
3. 2026-06-16
   days on market $149,900 Active 97 DOM
4. 2026-06-15
   days on market $149,900 Active 96 DOM
5. 2026-06-13
   days on market $149,900 Active 94 DOM
6. 2026-06-09
   days on market $149,900 Active 90 DOM
7. 2026-06-08
   days on market $149,900 Active 89 DOM
8. 2026-06-07
   days on market $149,900 Active 88 DOM
9. 2026-06-04
   days on market $149,900 Active 85 DOM
10. 2026-06-03
    days on market $149,900 Active 84 DOM
11. 2026-06-02
    days on market $149,900 Active 83 DOM
12. 2026-06-01
    days on market $149,900 Active 82 DOM
13. 2026-05-31
    days on market $149,900 Active 81 DOM
14. 2025-01-15
    listed $149,900 Active

ⓘ 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: $1,884 · $157/mo
• Projected year-2 tax: $1,884 · $157/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 7 d/yr ≥106°F today · 25 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: $26,503
• − Mortgage interest: −$8,397
• − Property taxes: −$1,884
• − Insurance: −$750
• − Repairs & maintenance: −$2,120
• − Management: −$2,120
• − HOA: −$3,600
• − Depreciation: −$4,361
• Taxable income: $3,272
• Est. tax owed @ 24.0%: −$785
• After-tax cash flow: $4,486/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

• Census place: Boca Raton, FL
• County: Palm Beach County · 1,438,312 people
• City population: 250,102
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 21,834
• Household income: $107,045
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1461.0

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% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Cuban 3%
• Common ancestry: Scotch-Irish 4% Subsaharan African 4% Romanian 4%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 77% English-only · Spanish 13% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -565.03%
• Current HPI: 391.7799
• Rent YoY: ▲ 4.56%
• 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

1 event — show timeline

• 2025-01-15 Listed $149,900 Beaches MLS

Property tax history

+5.6%/yr

Latest (2025): $1,884 · +3.2% YoY. Source: county tax records.