8349 South St · Boca Raton, FL 33433

$165,000

2 bd · 2.0 ba · 1,032 sqft · Condo public records · 117 Days on market

Built 1972 $250/mo HOA · 9% of rent ↓ 8% since listing

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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 +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Outstanding lakefront location in popular 55+ West Lakes of Boca Raton. Enjoy beautiful lake views from the kitchen's bay window and the spacious Florida room. This 2BR/2BA double-wide coach features an open living/dining area and a bright kitchen with a comfortable breakfast bar. Both bedrooms are generously sized; the master suite features a walk-in closet. The interior boasts easy-care tile throughout. This home features newer appliances, A/C, and water heater. West Lakes maintenance fees include lawn care, community pool, clubhouse, shuffleboard, laundry facilities, picnic area, and basic cable. Convenient to shopping, golf, and beaches, this lakefront gem combines comfort and unbeatabl

Key facts

• Lake views
• Walk-in closet
• Lakefront location

Tags

• LAKEFRONT LOCATION
• LAKE VIEWS
• FLORIDA ROOM
• OPEN LIVING DINING AREA
• BREAKFAST BAR
• WALK-IN CLOSET

Property features AI

Finance

• Other: Pets allowed with restrictions (breed, number, and size limits may apply)
• HOA & community: Has association; Monthly association fee of $250; Association covers cable TV, grounds maintenance, and common areas; Community amenities include clubhouse, pool, picnic area, shuffleboard court, manager on site, community room, and library; Senior community

Exterior

• Parking: Attached covered carport
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Underground utilities
• Home design: Mobile home; Single-story; Entry-level living area; South-facing
• Construction: Modular construction; Building recorded as 1,896 total area (public records); Living area reported as 1,032
• Exterior features: Screened patio; Patio; Waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Walk-in closets; Partially furnished
• Laundry & utility: Community laundry (association amenity)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $856 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $165k).
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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: Del Prado Elementary School (math 78% / reading 78%, grade A, #149 of 2,144 statewide, top 8%, 712 students, 26% 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 67% at this address vs 50% district-wide (+18 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 27d 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).
• This rent runs 38% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 0.3% rent growth), your $46k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($150k) 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 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 1972 — 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.61% ✓
• Cap rate: 12.52%
• Cash-on-cash: 22.23%
• DSCR: 1.99
• GRM: 5.2

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: 11.8%
• Equity multiple: 1.45×
• Total profit: $20,930
• Equity at exit: $24,602

10-year hold

• IRR: 18.5%
• Equity multiple: 2.34×
• Total profit: $61,787
• Equity at exit: $14,266

Cash invested: $46,200 (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: 5.2×

Monthly cashflow live

• Estimated rent: $2,659 high
• Mortgage (P&I): −$865
• Tax from tax record: −$61 /mo · $729/yr
• Insurance: −$69
• HOA: −$250
• Vacancy / Maint / Mgmt: −$558
• Net cashflow: $856

Break-even live

Break-even rent $1,576

Max offer price $165,000

Occupancy floor 63%

Sensitivity live

Price	-10% $949	-5% $903	+0% $856	+5% $809	+10% $763
Rent	-10% $646	-5% $751	+0% $856	+5% $961	+10% $1,066
Rate	-1.0pp $939	-0.5pp $898	base $856	+0.5pp $813	+1.0pp $770

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8540 Chevy Chase Dr Unit 8540 Boca Raton, FL	1.0	1.0	908	$2,000	$2.20	26d	1	0.23mi
8588 Bella Vista Dr Boca Raton, FL	2.0	2.0	1332	$2,999	$2.25	26d	1	0.26mi
8458 Boca Glades Blvd E Boca Raton, FL	2.0	2.0	1307	$3,200	$2.45	7d	1	0.28mi
8729 Chevy Chase Dr Boca Raton, FL	2.0	2.0	1332	$2,000	$1.50	26d	1	0.39mi
8732 Bella Vista Dr #42 Boca Raton, FL	2.0	2.0	908	$1,900	$2.09	26d	1	0.40mi
8744 Bella Vista Dr Boca Raton, FL	2.0	2.0	1332	$2,100	$1.58	7d	1	0.42mi
20867 Wendall Ter Boca Raton, FL	2.0	1.5	908	$1,800	$1.98	26d	1	0.42mi
20886 Vinesta Cir Unit 313 Boca Raton, FL	2.0	2.0	1332	$1,800	$1.35	26d	1	0.42mi
8440 Boca Glades Blvd E Boca Raton, FL	2.0	2.0	1307	$3,400	$2.60	24d	1	0.44mi
8657 Boca Glades Blvd E Unit C Boca Raton, FL	3.0	2.0	1098	$2,800	$2.55	26d	1	0.44mi
21214 Lago Cir Unit 8f Boca Raton, FL	2.0	2.0	1216	$4,200	$3.45	26d	1	0.50mi
8833 Bella Vista Dr #8833 Boca Raton, FL	2.0	2.0	908	$3,250	$3.58	26d	1	0.51mi
8425 Casa del Lago Unit C Boca Raton, FL	2.0	2.0	1216	$2,100	$1.73	24d	1	0.57mi
20927 Sedgewick Dr Unit 20927 Boca Raton, FL	2.0	1.0	908	$1,950	$2.15	26d	1	0.62mi
7911 Eastlake Dr Unit H Boca Raton, FL	2.0	2.0	1216	$2,200	$1.81	26d	1	0.68mi
21411 Juego Cir Unit 32b Boca Raton, FL	2.0	2.0	1216	$1,950	$1.60	26d	1	0.69mi
21542 Juego Cir Unit 27H Boca Raton, FL	2.0	2.0	1216	$2,400	$1.97	1d	1	0.69mi
21362 Juego Cir Unit 33f Boca Raton, FL	2.0	2.0	1216	$3,500	$2.88	26d	1	0.69mi
7944 Eastlake Dr Unit D Boca Raton, FL	2.0	2.0	1216	$2,100	$1.73	26d	1	0.70mi
8045 Eastlake Dr Unit 1-G Boca Raton, FL	2.0	2.0	1216	$2,750	$2.26	26d	1	0.71mi
21643 Cypress Rd Unit 14C Boca Raton, FL	2.0	2.5	1426	$2,590	$1.82	5d	1	0.73mi
8334 Cypress Ln Unit 1A Boca Raton, FL	2.0	2.0	1216	$3,000	$2.47	26d	1	0.78mi
21650 Juego Cir Unit 24b Boca Raton, FL	2.0	2.0	1216	$3,000	$2.47	26d	1	0.81mi
1405 Bridgewood Dr Unit 1405 Boca Raton, FL	2.0	2.5	1400	$3,100	$2.21	26d	1	0.82mi
1405 Bridgewood Dr Unit 1405 Boca Raton, FL	2.0	2.5	1400	$3,000	$2.14	24d	1	0.82mi
20525 S Charlston St Boca Raton, FL	2.0	2.0	1334	$4,214	$3.16	0d	2	0.85mi
2404 Bridgewood Dr Boca Raton, FL	2.0	2.5	1400	$4,700	$3.36	26d	1	0.85mi
8436 Cypress Ln Unit 7d Boca Raton, FL	2.0	2.0	1216	$2,450	$2.01	19d	1	0.87mi
8436 Cypress Ln Unit 7d Boca Raton, FL	2.0	2.0	1216	$2,450	$2.01	17d	1	0.87mi
3705 Bridgewood Dr Boca Raton, FL	2.0	2.0	1400	$3,500	$2.50	26d	1	0.91mi
21535 Cypress Hammock Dr Unit 36J Boca Raton, FL	2.0	2.0	1266	$2,200	$1.74	26d	1	0.94mi
9280 Sable Ridge Cir Apt B Boca Raton, FL	2.0	2.0	1475	$2,700	$1.83	5d	1	0.96mi
21820 Cypress Cir Unit 25e Boca Raton, FL	1.0	1.0	1216	$1,000	$0.82	24d	1	0.96mi
21529 Cypress Hammock Dr Unit 35J Boca Raton, FL	2.0	2.0	1266	$2,395	$1.89	14d	1	0.97mi
3604 Bridgewood Dr Boca Raton, FL	2.0	2.5	1400	$2,450	$1.75	26d	1	0.98mi
9256 Sabal Ridge Cir Unit D Boca Raton, FL	2.0	2.0	1475	$2,695	$1.83	26d	1	0.99mi
9292 Sabal Ridge Cir Unit D Boca Raton, FL	2.0	2.0	1475	$2,650	$1.80	13d	1	0.99mi
9292 Sabal Ridge Cir Unit D Boca Raton, FL	2.0	2.0	1475	$2,650	$1.80	26d	1	0.99mi
21500 Cypress Hammock Dr Unit 38C Boca Raton, FL	2.0	2.0	1266	$2,500	$1.97	26d	1	0.99mi
21925 Mizner Way Boca Raton, FL	2.0–3.0	2.0	1302	$2,320	$1.78	0d	16	1.00mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: watercablelandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-21
   days on market $165,000 Active 117 DOM
2. 2026-06-18
   days on market $165,000 Active 114 DOM
3. 2026-06-17
   days on market $165,000 Active 113 DOM
4. 2026-06-16
   days on market $165,000 Active 112 DOM
5. 2026-06-15
   days on market $165,000 Active 111 DOM
6. 2026-06-13
   days on market $165,000 Active 109 DOM
7. 2026-06-09
   days on market $165,000 Active 105 DOM
8. 2026-06-07
   days on market $165,000 Active 103 DOM
9. 2026-06-04
   days on market $165,000 Active 100 DOM
10. 2026-06-03
    days on market $165,000 Active 99 DOM
11. 2026-06-02
    days on market $165,000 Active 98 DOM
12. 2026-06-01
    days on market $165,000 Active 97 DOM
13. 2026-05-31
    days on market $165,000 Active 96 DOM
14. 2026-05-18
    price $165,000
15. 2026-02-22
    listed $179,000 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: $729 · $61/mo
• Projected year-2 tax: $1,370 · $114/mo
• Expected delta: +$640/yr (+$53/mo · 87.8%)

ⓘ 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 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,911
• − Mortgage interest: −$9,243
• − Property taxes: −$729
• − Insurance: −$825
• − Repairs & maintenance: −$2,553
• − Management: −$2,553
• − HOA: −$3,000
• − Depreciation: −$4,800
• Taxable income: $8,209
• Est. tax owed @ 24.0%: −$1,970
• After-tax cash flow: $8,302/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

-7.8% since first listed

2 events — show timeline

• 2026-05-18 Price Changed $165,000 Beaches MLS
• 2026-02-22 Listed $179,000 Beaches MLS

Property tax history

+1.7%/yr

Latest (2025): $729 · -5.8% YoY. Source: county tax records.