42016 Jima Bay · Boynton Beach, FL 33436

$149,880

3 bd · 2.0 ba · 1,344 sqft · Condo public records · 142 Days on market

Built 1980 $270/mo HOA ↓ 6% 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 +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

NO land lease and LOW HOA! Spacious and full of potential, this 2-bedroom, 2-bath home offers 1,344 sq ft of living space, one of the largest two-bedroom floor plans in the Jamaica Bay 55+ community in Boynton Beach. Located at the end of a quiet cul-de-sac, the home offers added privacy and open green space to the rear. The interior is in original condition, providing a blank canvas to enjoy as-is, update gradually, or fully remodel. The expansive layout includes generous living and dining areas with excellent flow. Both bedrooms are well sized, with the primary suite featuring an en-suite bath. Jamaica Bay is a gated, resident-owned co-op community with no land lease. HOA is approximately

Key facts

• Gated community
• Quiet cul-de-sac
• Open green space

Tags

• NO LAND LEASE
• LOW HOA
• QUIET CUL-DE-SAC
• OPEN GREEN SPACE
• GATED COMMUNITY
• RESIDENT-OWNED CO-OP

Property features AI

Finance

• Other: Pets allowed (restrictions and limits may apply)
• HOA & community: Has association; $270 monthly; Association covers maintenance of grounds, security, sewer, water, and common areas; Community amenities include clubhouse, pool, fitness center, billiard/game room, laundry, dog park, bocce, shuffleboard, pickleball courts, community room, and street lights; Senior community

Exterior

• Parking: Attached covered carport (1 space); 2 open parking spaces
• Security: Gated community with guard
• Utilities: Public water; Public sewer; Three-phase electric; Sewer and water available
• Home design: Manufactured home; Single-story; Entry-level living area; Faces east
• Construction: Modular construction; Aluminum and stone skirting; Aluminum roof; Built as resale
• Exterior features: Screened patio; Patio; Cul-de-sac lot; Waterfront

Interior

• Kitchen: Kitchen island
• Bedrooms: 2 bedrooms (all on the main level)
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Built-in features; Kitchen island; Wet bar; Walk-in closet(s); Decorative fireplace
• Laundry & utility: Inside laundry

🏢 Co-op / cooperative unit. The $149,880 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.3% 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: Hidden Oaks K-8 (math 42% / reading 53%, grade D, #1,182 of 2,144 statewide, top 55%, 785 students, 54% FRL); 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-school proficiency averages 30% at this address vs 50% district-wide (-19 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 soft (-0.6%/yr); 456 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 44% of the median local income ($76k/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 $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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($132k) 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 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,894 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 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. 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?
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: 1.83% ✓
• Cap rate: 14.30%
• Cash-on-cash: 28.58%
• DSCR: 2.27
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 19.2%
• Equity multiple: 1.75×
• Total profit: $31,452
• Equity at exit: $22,348

10-year hold

• IRR: 25.3%
• Equity multiple: 2.88×
• Total profit: $78,751
• Equity at exit: $12,959

Cash invested: $41,966 (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 33436

• Home prices YoY: -26.0%
• Rents YoY: -0.6%
• Active inventory: 456
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,748 high
• Mortgage (P&I): −$786
• Tax from tax record: −$53 /mo · $636/yr
• Insurance: −$62
• HOA: −$270
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $1,000

Break-even live

Break-even rent $1,483

Max offer price $149,880

Occupancy floor 59%

Sensitivity live

Price	-10% $1,084	-5% $1,042	+0% $1,000	+5% $957	+10% $915
Rent	-10% $783	-5% $891	+0% $1,000	+5% $1,108	+10% $1,217
Rate	-1.0pp $1,075	-0.5pp $1,038	base $1,000	+0.5pp $961	+1.0pp $921

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: $37,470
• Closing costs: $4,496
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4045 White Pine Dr Boynton Beach, FL	3.0	2.0	1566	$1,800	$1.15	3d	1	0.22mi
8949 Oak St Boynton Beach, FL	2.0	2.0	1040	$1,300	$1.25	26d	1	0.39mi
9498 S Military Trl #5 Boynton Beach, FL	3.0	2.5	1317	$2,900	$2.20	26d	1	0.65mi
8202 White Rock Cir Boynton Beach, FL	3.0	2.0	1738	$3,300	$1.90	9d	1	0.67mi
3962 Winfield Rd Unit 3962 Boynton Beach, FL	4.0	2.0	1592	$3,300	$2.07	15d	1	0.79mi
3962 Winfield Rd Boynton Beach, FL	4.0	2.0	1592	$3,300	$2.07	16d	1	0.79mi
3962 Winfield Rd Boynton Beach, FL	4.0	2.0	1592	$3,300	$2.07	1d	1	0.79mi
3736 Coelebs Ave Boynton Beach, FL	3.0	2.0	1232	$3,000	$2.44	26d	1	0.86mi
5155 Europa Dr Unit J Boynton Beach, FL	3.0	2.0	1333	$2,750	$2.06	26d	1	0.89mi
3930 Max Pl Boynton Beach, FL	3.0	2.0	1550	$2,825	$1.82	26d	1	0.94mi
3930 Max Pl Boynton Beach, FL	2.0	2.0	1250	$2,370	$1.90	1d	1	0.94mi
9900 Pineapple Tree Dr #106 Boynton Beach, FL	2.0	2.0	1008	$2,250	$2.23	26d	1	0.94mi
5373 Mirror Lakes Blvd Boynton Beach, FL	3.0	2.0	1310	$2,100	$1.60	26d	1	0.96mi
9935 Pineapple Tree Dr #202 Boynton Beach, FL	2.0	2.0	1008	$2,575	$2.55	16d	1	0.98mi
9766 Kamena Cir Boynton Beach, FL	3.0	2.5	1596	$3,300	$2.07	7d	1	1.00mi
3500 Sandpiper Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	1147	$2,579	$2.25	23d	22	1.01mi
5299 Europa Dr Unit P Boynton Beach, FL	3.0	2.0	1606	$3,000	$1.87	15d	1	1.01mi
5157 Floria Way Unit J Boynton Beach, FL	3.0	2.0	1447	$3,300	$2.28	26d	1	1.01mi
4525 Nutmeg Tree Ln Unit A Boynton Beach, FL	2.0	2.0	1404	$3,000	$2.14	26d	1	1.01mi
5234 Europa Dr Unit A Boynton Beach, FL	3.0	2.0	1578	$2,500	$1.58	21d	1	1.03mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,267	$1.89	23d	1	1.06mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,315	$1.93	5d	1	1.06mi
920 Sun Acres Ln Boynton Beach, FL	2.0	2.0	1352	$2,200	$1.63	26d	1	1.07mi
5133 Brisata Cir Unit P Boynton Beach, FL	3.0	2.0	1374	$2,800	$2.04	26d	1	1.09mi
5537 Pebble Brook Ln Boynton Beach, FL	3.0	2.0	1166	$2,825	$2.42	16d	1	1.10mi
5275 Europa Dr Unit I Boynton Beach, FL	3.0	2.0	1282	$2,500	$1.95	3d	1	1.14mi
9842 Kamena Cir Boynton Beach, FL	3.0	2.5	1596	$2,800	$1.75	26d	1	1.14mi
5072 Arbor Glen Cir Lake Worth, FL	3.0	2.0	1232	$3,300	$2.68	16d	1	1.16mi
3561 Oberon Ave Boynton Beach, FL	3.0	2.0	1248	$2,850	$2.28	22d	1	1.17mi
5418 Firenze Dr Unit P Boynton Beach, FL	2.0	2.0	1139	$2,400	$2.11	4d	1	1.19mi
9746 Nickels Blvd Boynton Beach, FL	2.0	2.0	1215	$2,800	$2.30	26d	1	1.23mi
190 Temple Ave Boynton Beach, FL	3.0	2.0	1781	$4,200	$2.36	26d	1	1.23mi
4296 Grove Park Ln Boynton Beach, FL	3.0	2.0	1696	$3,350	$1.98	26d	1	1.26mi
4220 Grove Park Ln Unit 1 Boynton Beach, FL	3.0	2.0	1406	$3,400	$2.42	5d	1	1.30mi
4220 Grove Park Ln Unit 1 Boynton Beach, FL	3.0	2.0	1406	$3,600	$2.56	26d	1	1.30mi
8520 Tourmaline Blvd Boynton Beach, FL	4.0	2.0	1699	$4,000	$2.35	20d	1	1.30mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	22d	1	1.31mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	9d	1	1.31mi
7705 Forest Green Ln Boynton Beach, FL	3.0	2.0	1379	$3,200	$2.32	26d	1	1.32mi
7705 Forest Green Ln Boynton Beach, FL	2.0	2.0	1379	$3,200	$2.32	19d	1	1.32mi

HOA detail condo

• Monthly dues: $270 · $3,240/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $149,880 Active 142 DOM
2. 2026-06-18
   days on market $149,880 Active 139 DOM
3. 2026-06-17
   days on market $149,880 Active 138 DOM
4. 2026-06-16
   days on market $149,880 Active 137 DOM
5. 2026-06-15
   days on market $149,880 Active 136 DOM
6. 2026-06-13
   days on market $149,880 Active 134 DOM
7. 2026-06-09
   days on market $149,880 Active 130 DOM
8. 2026-06-07
   days on market $149,880 Active 128 DOM
9. 2026-06-04
   days on market $149,880 Active 125 DOM
10. 2026-06-03
    days on market $149,880 Active 124 DOM
11. 2026-06-01
    days on market $149,880 Active 122 DOM
12. 2026-05-31
    days on market $149,880 Active 121 DOM
13. 2026-04-30
    price $149,890
14. 2026-04-22
    price $149,900
15. 2026-03-31
    price $154,990
16. 2026-03-01
    price $155,000
17. 2026-02-27
    price $158,990
18. 2026-01-30
    listed $159,000 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: $636 · $53/mo
• Projected year-2 tax: $1,244 · $104/mo
• Expected delta: +$608/yr (+$51/mo · 95.5%)

ⓘ 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 ≥106°F today · 20 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: $32,979
• − Mortgage interest: −$8,396
• − Property taxes: −$636
• − Insurance: −$749
• − Repairs & maintenance: −$2,638
• − Management: −$2,638
• − HOA: −$3,240
• − Depreciation: −$4,360
• Taxable income: $10,321
• Est. tax owed @ 24.0%: −$2,477
• After-tax cash flow: $9,519/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

• County: Palm Beach County · 1,438,312 people
• City population: 148,060
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 48,743
• Household income: $75,789
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 1813.0

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 0.64)
• Race & ethnicity: White 52% Black 24% Hispanic / Latino 19% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 3% Dominican 1%
• Common ancestry: Hispanic 12% Romanian 3% Scotch-Irish 2%
• Foreign-born: 27% · Canada, Jamaica, Vietnam
• Languages at home: 64% English-only · Spanish 14% French/Haitian/Cajun 13% Other Indo-European 2%

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: ▼ -109.59%
• Current HPI: 311.7742
• Rent YoY: ▼ -0.57%
• 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

-5.7% since first listed

6 events — show timeline

• 2026-04-30 Price Changed $149,890 Beaches MLS
• 2026-04-22 Price Changed $149,900 Beaches MLS
• 2026-03-31 Price Changed $154,990 Beaches MLS
• 2026-03-01 Price Changed $155,000 Beaches MLS
• 2026-02-27 Price Changed $158,990 Beaches MLS
• 2026-01-30 Listed $159,000 Beaches MLS

Property tax history

+0.8%/yr

Latest (2025): $636 · +4.1% YoY. Source: county tax records.