381 Fanshaw J #381 · Boca Raton, FL 33434

$119,000

1 bd · 1.5 ba · 702 sqft · Condo · 431 Days on market

Built 1980 $382/mo HOA · 23% 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 +18.7/30.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 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

Recently rennovated. Tennant occupied until January 2023 for $1085.

Key facts

• Sauna
• First floor unit
• Club house

Tags

• CLUB HOUSE
• INSIDE POOL
• SAUNA
• STATE OF THE ART EXERCISE ROOM
• FIRST FLOOR UNIT
• CAN BE RENTED IMMEDIATELY

Property features AI

Finance

• Financial info: Lease considered; No pets allowed
• HOA & community: Monthly association fees (multiple amounts listed); Senior community

Exterior

• Parking: Has a carport; 1 covered parking space; One parking space total
• Security: Fenced complex
• Home design: 3-story building; Attached property; Entry on level 1
• Construction: Block construction; Effective year built
• Exterior features: Complex is fenced

Interior

• Bedrooms: Bedroom located on the main level
• Flooring: Ceramic tile flooring; Laminate flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: First-floor entry; Bedroom on main level; Other interior features

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $117 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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: Whispering Pines Elementary School (math 62% / reading 69%, grade B+, #500 of 2,144 statewide, top 24%, 1,015 students, 25% FRL); Eagles Landing Middle School (math 66% / reading 67%, grade A-, #84 of 571 statewide, top 16%, 1,508 students, 27% 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 27% FRL vs 52% district-wide (25 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 (+1.8%/yr); 421 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 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.

Negotiation context

• It's been on market 431 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y ago; this cycle's ask has dropped $31k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• 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 $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 431 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.41% ✓
• Cap rate: 7.48%
• Cash-on-cash: 4.22%
• DSCR: 1.19
• GRM: 5.9

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: -11.4%
• Equity multiple: 0.59×
• Total profit: $-13,536
• Equity at exit: $17,743

10-year hold

• IRR: -4.4%
• Equity multiple: 0.73×
• Total profit: $-9,048
• Equity at exit: $10,289

Cash invested: $33,320 (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: 421
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,673 high
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$382
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $117

Break-even live

Break-even rent $1,525

Max offer price $119,000

Occupancy floor 88%

Sensitivity live

Price	-10% $199	-5% $158	+0% $117	+5% $76	+10% $35
Rent	-10% $-15	-5% $51	+0% $117	+5% $183	+10% $249
Rate	-1.0pp $177	-0.5pp $147	base $117	+0.5pp $86	+1.0pp $55

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 Fanshaw C Unit 119 Boca Raton, FL	1.0	1.0	585	$1,299	$2.22	27d	1	0.03mi
147 Fanshaw D Boca Raton, FL	1.0	1.0	601	$1,350	$2.25	27d	1	0.03mi
96 Fanshaw C Boca Raton, FL	1.0	1.5	702	$1,500	$2.14	2d	1	0.05mi
454 Fanshaw K Unit K Boca Raton, FL	1.0	1.5	715	$1,500	$2.10	17d	1	0.05mi
8 Fanshaw Dr Unit 8 Boca Raton, FL	1.0	1.0	585	$1,300	$2.22	10d	1	0.19mi
82 Fanshaw Dr Unit 82 Boca Raton, FL	1.0	1.5	702	$1,250	$1.78	27d	1	0.27mi
4014 Newcastle A Unit A Boca Raton, FL	1.0	1.5	738	$1,495	$2.03	27d	1	0.35mi
3031 Cornwall B Boca Raton, FL	1.0	1.5	738	$1,550	$2.10	27d	1	0.42mi
4008 Cornwall a Boca Raton, FL	1.0	1.5	738	$1,600	$2.17	27d	1	0.43mi
86 Mansfield C Unit C Boca Raton, FL	1.0	1.5	720	$1,700	$2.36	14d	1	0.43mi
534 Mansfield M #534 Boca Raton, FL	1.0	1.5	715	$1,300	$1.82	27d	1	0.43mi
3014 Cornwall a Boca Raton, FL	1.0	1.5	738	$1,775	$2.41	5d	1	0.45mi
3014 Cornwall a Boca Raton, FL	1.0	1.5	738	$1,650	$2.24	4d	1	0.45mi
2052 Cornwall Dr Unit 2052 Boca Raton, FL	1.0	1.5	738	$3,150	$4.27	27d	1	0.45mi
3070 Cornwall D Boca Raton, FL	1.0	1.5	738	$3,200	$4.34	27d	1	0.45mi
321 Dorset Dr Boca Raton, FL	1.0	1.5	720	$1,590	$2.21	27d	1	0.47mi
4074 Cornwall D Boca Raton, FL	1.0	1.5	738	$1,450	$1.96	27d	1	0.48mi
119 Dorset Dr Unit 119 Boca Raton, FL	1.0	1.0	600	$1,400	$2.33	27d	1	0.49mi
77 Preston Way #77 Boca Raton, FL	1.0	1.0	600	$1,450	$2.42	24d	1	0.50mi
77 Preston Way #77 Boca Raton, FL	1.0	1.0	600	$1,350	$2.25	10d	1	0.50mi
202 Mansfield E Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	2d	1	0.50mi
457 Mansfield I Unit 457 Boca Raton, FL	1.0	1.5	720	$1,700	$2.36	5d	1	0.50mi
517 Mansfield M Unit 517 Boca Raton, FL	1.0	1.5	715	$1,550	$2.17	27d	1	0.56mi
474 Mansfield L Unit L Boca Raton, FL	1.0	1.5	720	$1,400	$1.94	13d	1	0.56mi
359 Brighton I Unit I Boca Raton, FL	1.0	1.5	735	$1,550	$2.11	27d	1	0.59mi
129 Brighton D Boca Raton, FL	1.0	1.5	720	$1,300	$1.81	27d	1	0.59mi
251 Brighton Dr Unit 251 Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	10d	1	0.62mi
156 Brighton Dr Unit 156 Boca Raton, FL	1.0	1.5	720	$1,350	$1.88	27d	1	0.62mi
22 Brighton Dr Unit 22 Boca Raton, FL	1.0	1.0	600	$1,300	$2.17	10d	1	0.62mi
314 Brighton H Unit H Boca Raton, FL	1.0	1.5	720	$1,500	$2.08	16d	1	0.63mi
251 Brighton F Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	27d	1	0.63mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,300	$1.81	5d	1	0.65mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,350	$1.88	27d	1	0.65mi
91 Preston Way Unit 91 Boca Raton, FL	1.0	1.0	600	$1,500	$2.50	27d	1	0.65mi
171 Suffolk F #171 Boca Raton, FL	1.0	1.5	720	$1,500	$2.08	13d	1	0.73mi
250 Suffolk F #250 Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	5d	1	0.73mi
209 Suffolk F Unit F Boca Raton, FL	1.0	1.5	720	$1,400	$1.94	27d	1	0.73mi
68 Suffolk F Unit 68 Boca Raton, FL	1.0	1.5	720	$2,750	$3.82	27d	1	0.73mi
4067 Yarmouth D Boca Raton, FL	1.0	1.5	738	$1,650	$2.24	6d	1	0.73mi
1072 Yarmouth E #1072 Boca Raton, FL	1.0	1.5	738	$1,950	$2.64	27d	1	0.75mi

HOA detail condo

• Monthly dues: $382 · $4,584/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-22
   days on market $119,000 Active 431 DOM
2. 2026-06-21
   days on market $119,000 Active 430 DOM
3. 2026-06-18
   days on market $119,000 Active 427 DOM
4. 2026-06-17
   days on market $119,000 Active 426 DOM
5. 2026-06-16
   days on market $119,000 Active 425 DOM
6. 2026-06-15
   days on market $119,000 Active 424 DOM
7. 2026-06-13
   days on market $119,000 Active 422 DOM
8. 2026-06-09
   days on market $119,000 Active 418 DOM
9. 2026-06-07
   days on market $119,000 Active 416 DOM
10. 2026-06-04
    days on market $119,000 Active 413 DOM
11. 2026-06-03
    days on market $119,000 Active 412 DOM
12. 2026-06-01
    days on market $119,000 Active 410 DOM
13. 2026-05-31
    days on market $119,000 Active 409 DOM
14. 2026-05-07
    price $119,000
15. 2026-03-25
    price $125,000
16. 2025-08-26
    price $129,000
17. 2025-08-25
    price $139,000
18. 2025-08-04
    price $145,000
19. 2025-04-17
    listed $150,000 Active
20. 2025-03-15
    historical
21. 2022-10-17
    listed $195,000 Active
22. 2022-09-29
    soldstatus $130,000 Closed 67-char remark

    Show marketing remark (67 chars)

    Recently rennovated. Tennant occupied until January 2023 for $1085.

23. 2022-09-15
    status Pending 67-char remark

    Show marketing remark (67 chars)

    Recently rennovated. Tennant occupied until January 2023 for $1085.

24. 2022-08-17
    price $135,000 67-char remark

    Show marketing remark (67 chars)

    Recently rennovated. Tennant occupied until January 2023 for $1085.

25. 2022-06-06
    listed $160,000 Active 67-char remark

    Show marketing remark (67 chars)

    Recently rennovated. Tennant occupied until January 2023 for $1085.

26. 2009-09-15
    soldstatus $27,000
27. 2009-08-11
    historical
28. 2009-02-26
    listed $28,900
29. 2009-02-23
    historical
30. 2008-04-28
    listed $39,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $20,075
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$1,606
• − Management: −$1,606
• − HOA: −$4,584
• − Depreciation: −$3,462
• Taxable loss: −$229
• Est. tax savings @ 24.0%: +$55
• After-tax cash flow: $1,462/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

+198.2% since first listed

17 events — show timeline

• 2026-05-07 Price Changed $119,000 MARMLS
• 2026-03-25 Price Changed $125,000 MARMLS
• 2025-08-26 Price Changed $129,000 MARMLS
• 2025-08-25 Price Changed $139,000 MARMLS
• 2025-08-04 Price Changed $145,000 MARMLS
• 2025-04-17 Listed $150,000 MARMLS
• 2025-03-15 Listing Removed — MARMLS
• 2022-10-17 Listed $195,000 MARMLS
• 2022-09-29 Sold (MLS) $130,000 MARMLS
• 2022-09-15 Pending — MARMLS
• 2022-08-17 Price Changed $135,000 MARMLS
• 2022-06-06 Listed $160,000 MARMLS
• 2009-09-15 Sold (MLS) $27,000 Beaches MLS
• 2009-08-11 Listing Removed — Beaches MLS
• 2009-02-26 Listed $28,900 Beaches MLS
• 2009-02-23 Listing Removed — Beaches MLS
• 2008-04-28 Listed $39,900 Beaches MLS