2205 Bridgewood Dr · Boca Raton, FL 33434

$199,900

2 bd · 2.5 ba · 1,400 sqft · Condo public records

Built 1979 $1196/mo HOA · 36% 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 +20.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2BR2/. 5 BA GR FL TOWNHOME TRANQUIL GOLF VIEW FROM SCREENED IN PORCH. . PART OF THE WALL IN THE KITCHEN HAS BEEN REMOVED, TO OPEN UP LIVING AREA 1ST FL ALL TILED. CARPET STEPS HALL & BEDROOMS MUST SEE SHOWS VERY WELL

Key facts

• $1,196 HOA
• Community pool
• Built 1979

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Cap rate 7.8% 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: 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); Spanish River Community High School (math 64% / reading 74%, grade B, #63 of 667 statewide, top 10%, 2,578 students, 25% FRL) — zoned schools average 26% FRL vs 52% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 67% at this address vs 50% district-wide (+17 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 (+1.8%/yr); 418 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $3,335/mo this rent would consume 52% of the median local household income ($77k/yr) (locally 812% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 23y 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 $150k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,900

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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 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: 1.67% ✓
• Cap rate: 7.76%
• Cash-on-cash: 5.24%
• DSCR: 1.23
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.81% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.64×
• Total profit: $-20,101
• Equity at exit: $29,806

10-year hold

• IRR: -3.0%
• Equity multiple: 0.81×
• Total profit: $-10,545
• Equity at exit: $17,284

Cash invested: $55,972 (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 33434

• Rents YoY: 1.8%
• Active inventory: 418
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $3,335 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$63 /mo · $751/yr
• Insurance: −$83
• HOA: −$1,196
• Vacancy / Maint / Mgmt: −$700
• Net cashflow: $244

Break-even live

Break-even rent $3,026

Max offer price $199,900

Occupancy floor 88%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2404 Bridgewood Dr Boca Raton, FL	2.0	2.5	1400	$4,700	$3.36	24d	1	0.13mi
1405 Bridgewood Dr Unit 1405 Boca Raton, FL	2.0	2.5	1400	$3,000	$2.14	22d	1	0.17mi
1405 Bridgewood Dr Unit 1405 Boca Raton, FL	2.0	2.5	1400	$3,100	$2.21	24d	1	0.17mi
1002 Bridgewood Pl #1002 Boca Raton, FL	3.0	2.5	1550	$3,500	$2.26	24d	1	0.17mi
3205 Bridgewood Dr #3205 Boca Raton, FL	2.0	2.5	1400	$3,200	$2.29	24d	1	0.17mi
3604 Bridgewood Dr Boca Raton, FL	2.0	2.5	1400	$2,450	$1.75	24d	1	0.21mi
3705 Bridgewood Dr Boca Raton, FL	2.0	2.0	1400	$3,500	$2.50	24d	1	0.26mi
7738 Lakeside Blvd #373 Boca Raton, FL	2.0	2.0	1050	$2,200	$2.10	24d	1	0.49mi
7835 Lakeside Blvd #946 Boca Raton, FL	2.0	2.0	1050	$3,800	$3.62	5d	1	0.53mi
7754 Lakeside Blvd #446 Boca Raton, FL	2.0	2.0	1050	$3,500	$3.33	24d	1	0.56mi
7754 Lakeside Blvd #483 Boca Raton, FL	2.0	2.0	1050	$2,700	$2.57	2d	1	0.56mi
19809 Boca West Dr Unit 4043 Boca Raton, FL	2.0	2.0	1400	$3,100	$2.21	24d	1	0.71mi
10235 Entrada Pl Boca Raton, FL	1.0–3.0	1.0–2.0	952	$2,349	$2.47	2d	26	0.74mi
8657 Boca Glades Blvd E Unit C Boca Raton, FL	3.0	2.0	1098	$2,800	$2.55	24d	1	0.79mi
8440 Boca Glades Blvd E Boca Raton, FL	2.0	2.0	1307	$3,400	$2.60	22d	1	0.79mi
6797 Willow Wood Dr #6034 Boca Raton, FL	2.0	2.0	1260	$4,900	$3.89	24d	1	0.80mi
7067 Rain Forest Dr Boca Raton, FL	2.0	2.0	1271	$3,000	$2.36	24d	1	0.87mi
6805 Willow Wood Dr #5042 Boca Raton, FL	2.0	2.0	1260	$5,500	$4.37	22d	1	0.88mi
8458 Boca Glades Blvd E Boca Raton, FL	2.0	2.0	1307	$3,200	$2.45	5d	1	0.95mi
21018 Via Eden Boca Raton, FL	3.0	2.5	1552	$3,350	$2.16	24d	1	0.96mi
8289 Via Serena Boca Raton, FL	3.0	2.5	1687	$3,300	$1.96	12d	1	0.99mi
8289 Via Serena Boca Raton, FL	3.0	2.5	1687	$3,300	$1.96	24d	1	0.99mi
8272 Via Serena Boca Raton, FL	3.0	2.5	1553	$3,300	$2.12	15d	1	1.00mi
21102 Via Eden Boca Raton, FL	3.0	2.5	1702	$3,250	$1.91	18d	1	1.01mi
8320 Via Serena Boca Raton, FL	3.0	2.5	1687	$3,400	$2.02	5d	1	1.03mi
8320 Via Serena Boca Raton, FL	3.0	2.5	1687	$3,500	$2.07	21d	1	1.03mi
21115 Via Eden Boca Raton, FL	3.0	2.5	1553	$3,500	$2.25	24d	1	1.03mi
108 Fanshaw C Boca Raton, FL	2.0	1.5	924	$1,700	$1.84	24d	1	1.08mi
3032 Hythe A Unit 3032 Boca Raton, FL	2.0	2.0	896	$1,575	$1.76	24d	1	1.10mi
21270 Via Eden Boca Raton, FL	3.0	2.5	1812	$3,400	$1.88	8d	1	1.10mi
8410 Brussels Way Boca Raton, FL	3.0	2.0	1763	$5,999	$3.40	5d	1	1.12mi
2050 Hythe C Boca Raton, FL	2.0	2.0	880	$3,200	$3.64	24d	1	1.13mi
2044 Hythe C Boca Raton, FL	2.0	2.0	896	$1,825	$2.04	24d	1	1.15mi
8588 Bella Vista Dr Boca Raton, FL	2.0	2.0	1332	$2,999	$2.25	24d	1	1.18mi
8540 Chevy Chase Dr Unit 8540 Boca Raton, FL	1.0	1.0	908	$2,000	$2.20	24d	1	1.19mi
21583 Villa Nova Dr Boca Raton, FL	3.0	2.0	1620	$4,650	$2.87	24d	1	1.21mi
21583 Villa Nova Dr Boca Raton, FL	3.0	2.0	1620	$4,500	$2.78	5d	1	1.21mi
8534 Via D Oro Boca Raton, FL	3.0	2.0	1866	$5,500	$2.95	19d	1	1.22mi
8534 Via D Oro Boca Raton, FL	3.0	2.0	1866	$5,500	$2.95	4d	1	1.22mi
19550 Sawgrass Dr #2102 Boca Raton, FL	2.0	2.0	1460	$5,500	$3.77	24d	1	1.24mi

HOA detail condo

• Monthly dues: $1,196 · $14,352/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-03-11
   status Pending
2. 2026-03-05
   historical
3. 2026-03-05
   listed $199,900
4. 2016-05-02
   historical 222-char remark

   Show marketing remark (222 chars)

   2BR2/. 5 BA GR FL TOWNHOME TRANQUIL GOLF VIEW FROM SCREENED IN PORCH. . PART OF THE WALL IN THE KITCHEN HAS BEEN REMOVED, TO OPEN UP LIVING AREA 1ST FL ALL TILED. CARPET STEPS HALL & BEDROOMS MUST SEE SHOWS VERY WELL

5. 2005-10-03
   soldstatus $150,000
6. 2005-09-28
   soldstatus $150,000 218-char remark

   Show marketing remark (218 chars)

   2 BEDROOM - 2.5 BATH TOWNHOME TRANQUIL GOLF VIEW SCREENED IN PROCH PART OF THE WALL TAKEN DOWN IN THE KITCHEN HAS BEEN REMOVED TO OPEN UP ONTO LIVING AREA 1ST FLOOR ALL TILED CARPET STEPS HALL & BEDROOMS MUST SEE

7. 2005-08-23
   historical 218-char remark

   Show marketing remark (218 chars)

   2 BEDROOM - 2.5 BATH TOWNHOME TRANQUIL GOLF VIEW SCREENED IN PROCH PART OF THE WALL TAKEN DOWN IN THE KITCHEN HAS BEEN REMOVED TO OPEN UP ONTO LIVING AREA 1ST FLOOR ALL TILED CARPET STEPS HALL & BEDROOMS MUST SEE

8. 2005-08-15
   listed $139,000 218-char remark

   Show marketing remark (218 chars)

   2 BEDROOM - 2.5 BATH TOWNHOME TRANQUIL GOLF VIEW SCREENED IN PROCH PART OF THE WALL TAKEN DOWN IN THE KITCHEN HAS BEEN REMOVED TO OPEN UP ONTO LIVING AREA 1ST FLOOR ALL TILED CARPET STEPS HALL & BEDROOMS MUST SEE

9. 2004-01-17
   listed $130,000 222-char remark

   Show marketing remark (222 chars)

   2BR2/. 5 BA GR FL TOWNHOME TRANQUIL GOLF VIEW FROM SCREENED IN PORCH. . PART OF THE WALL IN THE KITCHEN HAS BEEN REMOVED, TO OPEN UP LIVING AREA 1ST FL ALL TILED. CARPET STEPS HALL & BEDROOMS MUST SEE SHOWS VERY WELL

10. 2003-03-12
    historical
11. 2003-03-05
    listed $159,000
12. 1997-12-29
    soldstatus $62,000
13. 1989-08-23
    soldstatus $20,000

ⓘ 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: $751 · $63/mo
• Projected year-2 tax: $1,659 · $138/mo
• Expected delta: +$908/yr (+$76/mo · 120.8%)

ⓘ 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 6 d/yr ≥107°F today · 21 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: $40,020
• − Mortgage interest: −$11,198
• − Property taxes: −$751
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,202
• − Management: −$3,202
• − HOA: −$14,352
• − Depreciation: −$5,815
• Taxable income: $501
• Est. tax owed @ 24.0%: −$120
• After-tax cash flow: $2,813/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): 21,686
• Household income: $77,269
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 812.0

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% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 9% Scotch-Irish 8% Italian 2%
• Foreign-born: 25% · Canada, Jamaica, South Korea
• Languages at home: 73% English-only · Spanish 15% Other Indo-European 4% Russian/Polish/Slavic 1%

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: ▼ -279.89%
• Current HPI: 271.1328
• Rent YoY: ▲ 1.81%
• 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

+899.5% since first listed

13 events — show timeline

• 2026-03-11 Pending — Beaches MLS
• 2026-03-05 Listed $199,900 Beaches MLS
• 2026-03-05 Listing Removed — Beaches MLS
• 2016-05-02 Listing Removed — Beaches MLS
• 2005-10-03 Sold (Public Records) $150,000 Public Records
• 2005-09-28 Sold (MLS) $150,000 Beaches MLS
• 2005-08-23 Listing Removed — Beaches MLS
• 2005-08-15 Listed $139,000 Beaches MLS
• 2004-01-17 Listed $130,000 Beaches MLS
• 2003-03-12 Listing Removed — Beaches MLS
• 2003-03-05 Listed $159,000 Beaches MLS
• 1997-12-29 Sold (Public Records) $62,000 Public Records
• 1989-08-23 Sold (Public Records) $20,000 Public Records

Property tax history

-1.0%/yr

Latest (2025): $751 · -11.5% YoY. Source: county tax records.