1115 Lake Ter #210 · Boynton Beach, FL 33426

$84,900

1 bd · 1.0 ba · 675 sqft · Condo public records · 23 Days on market

Built 1973 $350/mo HOA · 18% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Take a look at this quaint unit with some impact glass, updated bathroom, laminate flooring. Kitchen is well equipped and some updates will make it a comfortable apt for a primary or second home. Bldg has waiting list but there is potential for a yearly rental so investors are welcome!

Key facts

• Laminate flooring
• Impact glass
• Updated bathroom

Tags

• IMPACT GLASS
• UPDATED BATHROOM
• LAMINATE FLOORING
• WELL EQUIPPED KITCHEN
• YEARLY RENTAL POTENTIAL

Property features AI

Finance

• Other: Pets allowed with possible restrictions (breed, number and size limits); Directions: I-95 to Boynton Beach Blvd west to Congress, left to Ocean Ave, left on Lake Terrace; building straight ahead
• HOA & community: Community of 24 units; Monthly association fee of 350; Association covers insurance, grounds maintenance, pest control, sewer, trash, water and common areas; Community amenities include pool, clubhouse, fitness center, billiard room, laundry, storage, bocce ball and recreation facilities; Senior community

Exterior

• Parking: Assigned parking; Guest parking; 1 open parking space (1 total parking)
• Utilities: Public water; Public sewer; Electricity available; Cable available
• Home design: Condominium; One story; South-facing
• Construction: Concrete/CBS construction; Slab foundation; Composition/shingle roof; Resale condition
• Exterior features: Not waterfront

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Ceramic tile; Laminate; Tile; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fan(s)
• Interior features: Unfurnished; Single-hung metal windows; Entry-level living area
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $536 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 4.3% in Boynton Beach — 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 72/100 on livability (#351 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+, cost of living B; Watch: amenities D+, crime D-, commute 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: Congress Community Middle School (math 21% / reading 28%, grade F, #522 of 571 statewide, top 93%, 988 students, 72% FRL); Boynton Beach Community High (math 13% / reading 25%, grade F, #565 of 667 statewide, top 85%, 1,547 students, 65% FRL) — zoned schools average 69% FRL vs 52% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 50% district-wide (-28 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 227 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $587 of loan paydown is wiped out by about $3k 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 + 0.9% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y 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 $58k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,626 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.25% ✓
• Cap rate: 13.86%
• Cash-on-cash: 27.04%
• DSCR: 2.20
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.93% rent growth · sell at horizon

5-year hold

• IRR: 18.0%
• Equity multiple: 1.70×
• Total profit: $16,732
• Equity at exit: $12,659

10-year hold

• IRR: 24.5%
• Equity multiple: 2.86×
• Total profit: $44,254
• Equity at exit: $7,341

Cash invested: $23,772 (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 33426

• Rents YoY: 0.9%
• Active inventory: 227
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,907 high
• Mortgage (P&I): −$445
• Tax from tax record: −$141 /mo · $1,688/yr
• Insurance: −$35
• HOA: −$350
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $536

Break-even live

Break-even rent $1,229

Max offer price $84,900

Occupancy floor 67%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4 Renaissance Way #302 Boynton Beach, FL	1.0	1.0	747	$1,945	$2.60	10d	1	0.88mi
2407 Renaissance Way Boynton Beach, FL	1.0	1.0	744	$1,950	$2.62	7d	1	0.95mi
430 NW 12th Ave Unit A Boynton Beach, FL	1.0	1.0	500	$2,195	$4.39	24d	1	1.31mi
408 NW 13th Ave Unit 2 Boynton Beach, FL	1.0	1.0	400	$1,375	$3.44	24d	1	1.37mi
115 SW 1st Ave Boynton Beach, FL	1.0–2.0	1.0–2.0	804	$1,875	$2.33	15d	2	1.45mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 38 events

1. 2026-06-18
   days on market $84,900 Active 23 DOM
2. 2026-06-17
   days on market $84,900 Active 22 DOM
3. 2026-06-16
   days on market $84,900 Active 21 DOM
4. 2026-06-15
   days on market $84,900 Active 20 DOM
5. 2026-06-13
   days on market $84,900 Active 18 DOM
6. 2026-06-09
   days on market $84,900 Active 14 DOM
7. 2026-06-08
   days on market $84,900 Active 13 DOM
8. 2026-06-07
   days on market $84,900 Active 12 DOM
9. 2026-06-04
   days on market $84,900 Active 9 DOM
10. 2026-06-03
    days on market $84,900 Active 8 DOM
11. 2026-06-02
    days on market $84,900 Active 7 DOM
12. 2026-06-01
    days on market $84,900 Active 6 DOM
13. 2026-05-31
    days on market $84,900 Active 5 DOM
14. 2026-05-25
    listed $84,900 Active
15. 2026-04-17
    listed $1,300
16. 2026-04-07
    historical $1,350
17. 2026-02-26
    price $1,350
18. 2026-02-04
    listed $1,450
19. 2026-01-31
    historical
20. 2025-12-30
    price $89,995
21. 2025-11-04
    price $95,000
22. 2025-08-15
    price $105,000
23. 2025-06-30
    price $109,900
24. 2025-05-08
    price $111,900
25. 2025-03-26
    listed $116,900 Active
26. 2025-03-24
    historical
27. 2024-10-28
    listed $116,900 Active
28. 2020-06-17
    soldstatus $58,000
29. 2020-06-15
    soldstatus $58,000 Closed
30. 2020-05-22
    status Pending
31. 2020-05-09
    listed $64,500 Active
32. 2005-04-18
    soldstatus $60,000
33. 2005-04-15
    soldstatus $60,000
34. 2005-01-18
    historical
35. 2004-10-25
    listed $64,900
36. 2004-05-19
    soldstatus $38,000
37. 1993-01-15
    soldstatus $27,200
38. 1987-10-01
    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: $1,688 · $141/mo
• Projected year-2 tax: $1,688 · $141/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥105°F today · 22 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: $22,890
• − Mortgage interest: −$4,756
• − Property taxes: −$1,688
• − Insurance: −$424
• − Repairs & maintenance: −$1,831
• − Management: −$1,831
• − HOA: −$4,200
• − Depreciation: −$2,470
• Taxable income: $5,690
• Est. tax owed @ 24.0%: −$1,365
• After-tax cash flow: $5,062/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 — Boynton Beach

• Score: 72/100
• State rank: #351
• US rank: #6098

Category grades

Amenities D+ Commute F Cost of living B Crime D- Employment C Housing A+ Health & safety B+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boynton Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 148,060
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 24,255
• Household income: $74,223
• Rent vs Own: 36.7% rent · 63.3% own
• Severe rent burden: 1417.0

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 0.66)
• Race & ethnicity: White 51% Black 23% Hispanic / Latino 17% Two or more races 14% Asian 4%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2%
• Common ancestry: Hispanic 9% Romanian 2% Lithuanian 2%
• Foreign-born: 29% · Canada, Jamaica, Vietnam
• Languages at home: 66% English-only · Spanish 16% French/Haitian/Cajun 11% Other Indo-European 5%

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: ▼ -205.96%
• Current HPI: 335.3805
• Rent YoY: ▲ 0.93%
• 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

+324.5% since first listed

25 events — show timeline

• 2026-05-25 Listed $84,900 Beaches MLS
• 2026-04-17 Listed for Rent $1,300 Avail
• 2026-04-07 Rental Removed $1,350 Avail
• 2026-02-26 Price Changed $1,350 Avail
• 2026-02-04 Listed for Rent $1,450 Avail
• 2026-01-31 Listing Removed — Beaches MLS
• 2025-12-30 Price Changed $89,995 Beaches MLS
• 2025-11-04 Price Changed $95,000 Beaches MLS
• 2025-08-15 Price Changed $105,000 Beaches MLS
• 2025-06-30 Price Changed $109,900 Beaches MLS
• 2025-05-08 Price Changed $111,900 Beaches MLS
• 2025-03-26 Listed $116,900 Beaches MLS
• 2025-03-24 Listing Removed — Beaches MLS
• 2024-10-28 Listed $116,900 Beaches MLS
• 2020-06-17 Sold (Public Records) $58,000 Public Records
• 2020-06-15 Sold (MLS) $58,000 Beaches MLS
• 2020-05-22 Pending — Beaches MLS
• 2020-05-09 Listed $64,500 Beaches MLS
• 2005-04-18 Sold (Public Records) $60,000 Public Records
• 2005-04-15 Sold (MLS) $60,000 Beaches MLS
• 2005-01-18 Listing Removed — Beaches MLS
• 2004-10-25 Listed $64,900 Beaches MLS
• 2004-05-19 Sold (Public Records) $38,000 Public Records
• 1993-01-15 Sold (Public Records) $27,200 Public Records
• 1987-10-01 Sold (Public Records) $20,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $1,688 · +2.8% YoY. Source: county tax records.