9172 Boca Gardens Pkwy Unit B · Boca Raton, FL 33496

$579,900

3 bd · 2.5 ba · 2,268 sqft · Townhouse public records · 14 Days on market

Built 1992 1,612 sqft lot $477/mo HOA · 12% 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.8/30.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.0/10.0

Listing remarks MLS

Great unit with the best views in the complex with the largest square footage. Two Story unit with ceramic tile floors thru out living area, hardwood floors on stairs and carpets in loft and bedrooms. Kitchen has wood cabinets and granite counters. Screened patio area overlooking lake plus an added den area located off the dining area. Unit is in good condition and ready for the new owners. Community offers 3 pools with exercise facility and Tennis courts.

Key facts

• Water views
• New water heater
• New ac system

Tags

• WATER VIEWS
• WALKING DISTANCE TO EAST POOL
• SPACIOUS UPSTAIRS LOFT
• NEW ROOF
• NEW AC SYSTEM
• NEW WATER HEATER

Property features AI

Finance

• Other: Pets allowed with breed restrictions
• HOA & community: Part of an association (Boca Gardens Homeowners Association); HOA fee paid monthly; HOA amenities include pool, clubhouse, fitness center, tennis and basketball courts, jogging path, community room, sidewalks, street lights, on-site manager/management

Exterior

• Parking: Attached garage (1 garage space); Driveway; Covered parking (1 space); Total parking for 2 vehicles
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Water available; Sewer available
• Home design: Townhouse; Two levels; North-facing; Resale property
• Construction: Built with CBS (concrete block construction); Composition/shingle roof; 1 story in building (property spans two levels)
• Exterior features: Covered patio; Screened patio; Patio; Waterfront property

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Electric water heater
• Bedrooms: No main-level bedrooms (all bedrooms on upper level)
• Flooring: Ceramic tile; Laminate; Wood
• Bathrooms: 2 full bathrooms and 1 half bathroom (3 total), with one bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans; Electric cooling
• Interior features: Cathedral and vaulted ceilings; Walk-in closets; Sliding windows; Unfurnished
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $580k.

Deal economics

• At list price, monthly cash flow is $-912 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $419k (27.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $400k (30.9% below list).
• Recommended offer: $400k (30.9% below list) — sets the bar for 1% rule.
• Cap rate 4.4% 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); Omni Middle School (math 66% / reading 66%, grade A-, #93 of 571 statewide, top 16%, 1,128 students, 29% 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 28% FRL vs 52% district-wide (24 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 (+2.3%/yr); 324 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• In year one you build about $62k of equity ($4k loan paydown + $58k appreciation (10.0% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$100k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 21y 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 $255k; list at $580k implies a 127% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $400,500 (30.9% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 0.69% ✗
• Cap rate: 4.40%
• Cash-on-cash: -6.74%
• DSCR: 0.70
• GRM: 12.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: 19.3%
• Equity multiple: 2.57×
• Total profit: $255,053
• Equity at exit: $522,420

10-year hold

• IRR: 17.7%
• Equity multiple: 5.87×
• Total profit: $791,548
• Equity at exit: $1,126,618

Cash invested: $162,372 (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 33496

• Home prices YoY: 3.5%
• Rents YoY: 2.3%
• Active inventory: 324
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $4,005 high
• Mortgage (P&I): −$3,041
• Tax from tax record: −$317 /mo · $3,801/yr
• Insurance: −$242
• HOA: −$477
• Vacancy / Maint / Mgmt: −$841
• Net cashflow: $-912

Break-even live

Break-even rent $5,160

Max offer price $418,705

Occupancy floor —

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: $144,975
• Closing costs: $17,397
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9190 Boca Gardens Pkwy Unit B Boca Raton, FL	3.0	2.5	1845	$3,500	$1.90	24d	1	0.03mi
9203 Boca Gardens Cir S Unit D Boca Raton, FL	3.0	2.5	2088	$3,300	$1.58	24d	1	0.07mi
9067 Long Lake Palm Dr Boca Raton, FL	4.0	3.5	3014	$6,875	$2.28	24d	1	0.22mi
9392 Affirmed Ln Boca Raton, FL	3.0	2.0	1635	$3,200	$1.96	14d	1	0.31mi
9585 Affirmed Ln Boca Raton, FL	4.0	2.0	1756	$3,950	$2.25	5d	1	0.49mi
9590 Islamorada Ter Boca Raton, FL	4.0	2.5	2064	$5,000	$2.42	21d	1	0.69mi
9505 Aegean Dr Boca Raton, FL	4.0	2.5	2133	$4,200	$1.97	7d	1	0.73mi
8550 Via Romana #2 Boca Raton, FL	3.0	2.0	1778	$3,500	$1.97	24d	1	0.77mi
8550 Via Romana #2 Boca Raton, FL	3.0	2.0	1778	$3,500	$1.97	21d	1	0.77mi
8550 Via Romana Boca Raton, FL	3.0	2.0	1778	$3,500	$1.97	10d	1	0.77mi
9636 Tavernier Dr Boca Raton, FL	3.0	2.0	1820	$4,200	$2.31	24d	1	0.88mi
9928 Moss Pond Dr Unit 9928 Boca Raton, FL	3.0	2.5	1843	$4,500	$2.44	14d	1	0.92mi
9928 Moss Pond Dr Boca Raton, FL	3.0	2.5	1843	$4,500	$2.44	24d	1	0.92mi
9928 Moss Pond Dr Boca Raton, FL	3.0	2.5	1843	$4,500	$2.44	11d	1	0.92mi
9387 Richmond Cir Boca Raton, FL	3.0	2.0	1849	$4,100	$2.22	10d	1	0.94mi
17345 Sea Blossom Way Boca Raton, FL	3.0	3.0	2240	$10,500	$4.69	17d	1	1.04mi
18298 102nd Way S Boca Raton, FL	4.0	2.0	1853	$6,500	$3.51	24d	1	1.13mi
4278 NW 65th Rd Boca Raton, FL	3.0	2.0	1607	$16,500	$10.27	10d	1	1.24mi
4285 NW 62nd Rd Boca Raton, FL	3.0	2.5	2999	$15,000	$5.00	24d	1	1.25mi
9718 Lancaster Pl Boca Raton, FL	3.0	2.0	1773	$4,400	$2.48	24d	1	1.27mi
6540 NW 42nd Way Boca Raton, FL	3.0	3.5	2301	$2,250	$0.98	24d	1	1.30mi
19323 Carolina Cir Boca Raton, FL	4.0	2.0	2300	$4,150	$1.80	12d	1	1.30mi
5855 NW 42nd Way Boca Raton, FL	4.0	3.5	2395	$13,900	$5.80	14d	1	1.34mi
9940 Liberty Rd Boca Raton, FL	4.0	2.0	1674	$5,500	$3.29	24d	1	1.34mi
4088 NW Briarcliff Cir Boca Raton, FL	4.0	3.0	2613	$18,000	$6.89	24d	1	1.45mi

HOA detail

• Monthly dues: $477 · $5,724/yr
• Likely covers: pool

Listing history 9 events

1. 2026-06-18
   days on market $579,900 Active 14 DOM
2. 2026-06-17
   days on market $579,900 Active 13 DOM
3. 2026-06-16
   days on market $579,900 Active 12 DOM
4. 2026-06-15
   days on market $579,900 Active 11 DOM
5. 2026-06-13
   days on market $579,900 Active 9 DOM
6. 2026-06-09
   days on market $579,900 Active 5 DOM
7. 2026-06-08
   days on market $579,900 Active 4 DOM
8. 2026-06-07
   remarks 699-char remark
9. 2026-06-07
   listed $579,900 Active 3 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: $3,801 · $317/mo
• Projected year-2 tax: $4,813 · $401/mo
• Expected delta: +$1,012/yr (+$84/mo · 26.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,060
• − Mortgage interest: −$32,483
• − Property taxes: −$3,801
• − Insurance: −$2,900
• − Repairs & maintenance: −$3,845
• − Management: −$3,845
• − HOA: −$5,724
• − Depreciation: −$16,870
• Taxable loss: −$21,407
• Est. tax savings @ 24.0%: +$5,138
• After-tax cash flow: $-5,812/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): 26,579
• Household income: $114,885
• Rent vs Own: 16.5% rent · 83.5% own
• Severe rent burden: 464.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Two or more races 8% Asian 5% Black 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Scotch-Irish 13% Romanian 9% Italian 3%
• Foreign-born: 24% · Canada, Jamaica, Dominican Republic
• Languages at home: 75% English-only · Spanish 9% Other Indo-European 5% Russian/Polish/Slavic 4%

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: ▲ 10.48%
• Current HPI: 313.9058
• Rent YoY: ▲ 2.31%
• 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

+348.8% since first listed

13 events — show timeline

• 2026-06-04 Listed $579,900 Beaches MLS
• 2024-11-25 Listing Removed — Beaches MLS
• 2024-11-13 Listed $599,999 Beaches MLS
• 2015-10-09 Sold (MLS) $255,000 Beaches MLS
• 2015-09-23 Pending — Beaches MLS
• 2015-09-21 Relisted — Beaches MLS
• 2015-09-16 Pending — Beaches MLS
• 2015-08-19 Listed $259,900 Beaches MLS
• 2005-12-06 Sold (Public Records) $383,000 Public Records
• 2005-12-01 Sold (MLS) $383,000 Beaches MLS
• 2005-09-23 Listing Removed — Beaches MLS
• 2005-07-26 Listed $399,950 Beaches MLS
• 1993-01-07 Sold (Public Records) $129,200 Public Records

Property tax history

+2.1%/yr

Latest (2025): $3,801 · +3.2% YoY. Source: county tax records.