400 NE 20th St Unit A207 · Boca Raton, FL 33431

$200,000

2 bd · 2.0 ba · 1,014 sqft · Condo public records · 261 Days on market

Built 1966 $528/mo HOA · 17% 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 +26.2/30.0
• 1% rule +10.0/10.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Rent growth +4.2/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Renovated and Beautifully decorated 2/2 Bedroom unit on the second floor. Nice garden views. Large living room with separate media area. Elevated 2 floor building with active club house. Handicap accessible. A Must See! Walk to shopping and many restaurants. Mizner Park and Boca Beaches a short drive. 55+ comm. No leasing 1st year

Key facts

• Updated baths
• Updated kitchen
• Updated balcony

Tags

• UPDATED KITCHEN
• UPDATED BATHS
• REAL WOOD FLOORS
• NEW IMPACT WINDOWS
• UPDATED BALCONY
• POOL

Property features AI

Finance

• Other: Senior community; Association fee paid monthly
• Financial info: Pets allowed with possible number/size limits and restrictions
• HOA & community: Has association; Monthly HOA fee; Association amenities: billiard room, clubhouse, elevators, fitness center, laundry, pool, shuffleboard court, trash chute, community room, library; HOA fee covers cable TV, insurance, grounds maintenance, common area maintenance

Exterior

• Parking: Assigned parking; Guest parking; Open parking
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Resale property; Faces north; 3-story building
• Construction: CBS construction
• Exterior features: Entry-level living area; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning; Ceiling fan(s); Electric cooling
• Interior features: Built-in features; Walk-in closet(s); Split bedroom layout; Plantation shutters; Furnished
• Laundry & utility: Laundry in building / community

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $509 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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: schools A+, employment A+, health & safety A+; 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.
• Market conditions: Rents rising fast (+6.8%/yr); 181 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 34% of the median local income ($108k/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 $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.
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $56k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 261 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago; this cycle's ask has dropped $60k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $120k; list at $200k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 261 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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. 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.
9. 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.
10. 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: 1.53% ✓
• Cap rate: 9.35%
• Cash-on-cash: 10.90%
• DSCR: 1.49
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.83% rent growth · sell at horizon

5-year hold

• IRR: 5.5%
• Equity multiple: 1.23×
• Total profit: $12,614
• Equity at exit: $29,821

10-year hold

• IRR: 18.9%
• Equity multiple: 2.94×
• Total profit: $108,620
• Equity at exit: $17,292

Cash invested: $56,000 (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 33431

• Rents YoY: 6.8%
• Active inventory: 181
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $3,062 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$528
• Vacancy / Maint / Mgmt: −$643
• Net cashflow: $509

Break-even live

Break-even rent $2,418

Max offer price $200,000

Occupancy floor 78%

Sensitivity live

Price	-10% $647	-5% $578	+0% $509	+5% $440	+10% $370
Rent	-10% $267	-5% $388	+0% $509	+5% $630	+10% $751
Rate	-1.0pp $609	-0.5pp $560	base $509	+0.5pp $457	+1.0pp $404

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 NE 20th St #4190 Boca Raton, FL	2.0	2.0	1080	$4,000	$3.70	25d	1	0.19mi
250 NE 20th St #3030 Boca Raton, FL	2.0	2.0	1080	$2,500	$2.31	25d	1	0.19mi
1401 N Federal Hwy Unit 4024370 Boca Raton, FL	1.0	1.5	960	$2,000	$2.08	25d	1	0.19mi
541 NE 18th St Boca Raton, FL	2.0	2.0	1221	$4,300	$3.52	25d	1	0.22mi
235 NE 20th St Boca Raton, FL	2.0	2.0	1204	$4,250	$3.53	18d	1	0.22mi
200 NE 20th St Boca Raton, FL	1.0–2.0	1.0	784	$2,350	$3.00	23d	3	0.26mi
2325 NE 4th Ave Boca Raton, FL	3.0	2.0	1241	$4,000	$3.22	25d	1	0.30mi
2499 NE 2nd Ave Unit B Boca Raton, FL	2.0	1.0	1454	$2,500	$1.72	3d	1	0.53mi
2500 N Federal Hwy Boca Raton, FL	2.0	2.0	1200	$2,550	$2.12	25d	1	0.56mi
2500 N Federal Hwy Boca Raton, FL	1.0	1.0	750	$2,040	$2.72	23d	1	0.56mi
2751 NE 26th Ter Boca Raton, FL	3.0	2.0	1454	$4,495	$3.09	25d	1	0.63mi
198 NE 28th St Boca Raton, FL	2.0	1.0	840	$2,350	$2.80	18d	1	0.67mi
196 NE 28th St Boca Raton, FL	2.0	2.0	840	$2,650	$3.15	18d	1	0.67mi
196 NE 28th St Boca Raton, FL	2.0	2.0	950	$2,600	$2.74	9d	1	0.67mi
260 NW 19th St #27 Boca Raton, FL	2.0	1.0	750	$2,000	$2.67	6d	1	0.69mi
260 NW 19th St #290 Boca Raton, FL	2.0	1.0	750	$1,875	$2.50	0d	1	0.70mi
101 NE 28th St Boca Raton, FL	3.0	2.5	1400	$2,995	$2.14	9d	1	0.70mi
1798 NW 15th Vis Unit 5 Boca Raton, FL	2.0	1.0	1000	$2,695	$2.69	25d	1	0.70mi
289 NW 19th St Boca Raton, FL	1.0	1.0	720	$1,745	$2.42	25d	1	0.71mi
1908 NW 4th Ave Boca Raton, FL	3.0	2.0	1150	$2,995	$2.60	0d	1	0.72mi
1908 NW 4th Ave Boca Raton, FL	1.0–3.0	1.0–2.0	820	$2,345	$2.86	25d	1	0.72mi
2824 N Dixie Hwy Unit 2824 Boca Raton, FL	2.0	2.0	1184	$2,450	$2.07	16d	1	0.74mi
399 NW 19th St Boca Raton, FL	2.0	2.0	1000	$2,000	$2.00	25d	1	0.76mi
1800 NW 4th Ave Boca Raton, FL	2.0	1.5	880	$4,000	$4.55	25d	1	0.78mi
1314 NW 2nd Cir Boca Raton, FL	3.0	2.0	1382	$3,500	$2.53	18d	1	0.79mi
330 NW 20th St Boca Raton, FL	2.0	1.0	800	$2,095	$2.62	9d	1	0.79mi
1720 NW 4th Ave Boca Raton, FL	2.0	2.5	1335	$2,795	$2.09	25d	1	0.80mi
2121 N Ocean Blvd Unit 805W Boca Raton, FL	2.0	2.0	1031	$3,500	$3.39	9d	1	0.80mi
2121 N Ocean Blvd Unit 407W Boca Raton, FL	2.0	2.0	1031	$6,000	$5.82	25d	1	0.80mi
2121 N Ocean Blvd Unit 1507W Boca Raton, FL	2.0	2.0	1031	$5,500	$5.33	9d	1	0.80mi
2121 N Ocean Blvd Unit 201W Boca Raton, FL	2.0	2.0	1078	$2,600	$2.41	25d	1	0.80mi
2121 N Ocean Blvd Unit 1103W Boca Raton, FL	1.0	1.5	734	$3,500	$4.77	25d	1	0.80mi
2121 N Ocean Blvd Unit 1105W Boca Raton, FL	2.0	2.0	1031	$3,750	$3.64	25d	1	0.80mi
2121 N Ocean Blvd Unit 1204E Boca Raton, FL	2.0	2.0	1031	$3,000	$2.91	25d	1	0.80mi
2121 N Ocean Blvd Unit 1006E Boca Raton, FL	2.0	2.0	1031	$6,500	$6.30	25d	1	0.80mi
2650 Greenwood Ter #2160 Boca Raton, FL	2.0	2.0	938	$2,600	$2.77	18d	1	0.81mi
2650 Greenwood Ter Boca Raton, FL	2.0	2.0	938	$2,500	$2.67	6d	1	0.81mi
115 NW 7th St Boca Raton, FL	3.0	2.0	1008	$4,250	$4.22	5d	1	0.81mi
2899 NE 2nd Ave Boca Raton, FL	2.0	2.0	1377	$2,700	$1.96	25d	1	0.81mi
455 NE 29th St Boca Raton, FL	2.0	2.0	1298	$3,950	$3.04	0d	1	0.83mi

HOA detail condo

• Monthly dues: $528 · $6,336/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-21
   days on market $200,000 Active 261 DOM
2. 2026-06-18
   days on market $200,000 Active 258 DOM
3. 2026-06-17
   remarks 588-char remark
4. 2026-06-17
   status $200,000 Active 257 DOM
5. 2026-06-17
   days on market $200,000 Active Under Contract 257 DOM
6. 2026-06-16
   days on market $200,000 Active Under Contract 256 DOM
7. 2026-06-15
   days on market $200,000 Active Under Contract 255 DOM
8. 2026-06-13
   days on market $200,000 Active Under Contract 253 DOM
9. 2026-06-09
   days on market $200,000 Active Under Contract 249 DOM
10. 2026-06-07
    days on market $200,000 Active Under Contract 247 DOM
11. 2026-06-04
    days on market $200,000 Active Under Contract 244 DOM
12. 2026-06-03
    days on market $200,000 Active Under Contract 243 DOM
13. 2026-06-01
    days on market $200,000 Active Under Contract 241 DOM
14. 2026-05-31
    days on market $200,000 Active Under Contract 240 DOM
15. 2026-05-22
    historical Active Under Contract
16. 2026-05-06
    status Active
17. 2026-05-01
    historical Active Under Contract
18. 2026-03-27
    price $200,000
19. 2025-10-03
    listed $260,000 Active
20. 2019-11-04
    soldstatus $120,000
21. 2017-02-03
    soldstatus $112,000
22. 2016-11-21
    historical
23. 2016-08-15
    listed $115,000 Active
24. 2014-11-05
    soldstatus $100,000
25. 2014-11-03
    soldstatus $100,000 Closed 334-char remark

    Show marketing remark (334 chars)

    Renovated and Beautifully decorated 2/2 Bedroom unit on the second floor. Nice garden views. Large living room with separate media area. Elevated 2 floor building with active club house. Handicap accessible. A Must See! Walk to shopping and many restaurants. Mizner Park and Boca Beaches a short drive. 55+ comm. No leasing 1st year

26. 2014-10-08
    status Pending 334-char remark

    Show marketing remark (334 chars)

    Renovated and Beautifully decorated 2/2 Bedroom unit on the second floor. Nice garden views. Large living room with separate media area. Elevated 2 floor building with active club house. Handicap accessible. A Must See! Walk to shopping and many restaurants. Mizner Park and Boca Beaches a short drive. 55+ comm. No leasing 1st year

27. 2014-07-30
    status Active 334-char remark

    Show marketing remark (334 chars)

    Renovated and Beautifully decorated 2/2 Bedroom unit on the second floor. Nice garden views. Large living room with separate media area. Elevated 2 floor building with active club house. Handicap accessible. A Must See! Walk to shopping and many restaurants. Mizner Park and Boca Beaches a short drive. 55+ comm. No leasing 1st year

28. 2014-07-27
    status Pending 334-char remark

    Show marketing remark (334 chars)

    Renovated and Beautifully decorated 2/2 Bedroom unit on the second floor. Nice garden views. Large living room with separate media area. Elevated 2 floor building with active club house. Handicap accessible. A Must See! Walk to shopping and many restaurants. Mizner Park and Boca Beaches a short drive. 55+ comm. No leasing 1st year

29. 2014-06-04
    status Active 334-char remark

    Show marketing remark (334 chars)

    Renovated and Beautifully decorated 2/2 Bedroom unit on the second floor. Nice garden views. Large living room with separate media area. Elevated 2 floor building with active club house. Handicap accessible. A Must See! Walk to shopping and many restaurants. Mizner Park and Boca Beaches a short drive. 55+ comm. No leasing 1st year

30. 2014-05-11
    status Pending 334-char remark

    Show marketing remark (334 chars)

    Renovated and Beautifully decorated 2/2 Bedroom unit on the second floor. Nice garden views. Large living room with separate media area. Elevated 2 floor building with active club house. Handicap accessible. A Must See! Walk to shopping and many restaurants. Mizner Park and Boca Beaches a short drive. 55+ comm. No leasing 1st year

31. 2014-03-24
    listed $109,000 Active 334-char remark

    Show marketing remark (334 chars)

    Renovated and Beautifully decorated 2/2 Bedroom unit on the second floor. Nice garden views. Large living room with separate media area. Elevated 2 floor building with active club house. Handicap accessible. A Must See! Walk to shopping and many restaurants. Mizner Park and Boca Beaches a short drive. 55+ comm. No leasing 1st year

32. 2008-05-01
    soldstatus $124,000
33. 2005-01-24
    soldstatus $120,000
34. 1985-04-01
    soldstatus $50,800

ⓘ 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 10/10 Extreme 7 d/yr ≥106°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,742
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,939
• − Management: −$2,939
• − HOA: −$6,336
• − Depreciation: −$5,818
• Taxable income: $3,506
• Est. tax owed @ 24.0%: −$841
• After-tax cash flow: $5,263/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

• Census place: Boca Raton, FL
• County: Palm Beach County · 1,438,312 people
• City population: 250,102
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 24,608
• Household income: $107,896
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 872.0

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 0.56)
• Race & ethnicity: White 63% Hispanic / Latino 15% Black 14% Two or more races 10% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1% Cuban 3%
• Common ancestry: Hispanic 9% Scotch-Irish 5% Romanian 5%
• Foreign-born: 15% · Canada, Jamaica, Vietnam
• Languages at home: 77% English-only · Spanish 11% Other Indo-European 5% French/Haitian/Cajun 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: ▼ -425.66%
• Current HPI: 342.0339
• Rent YoY: ▲ 6.83%
• 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

+293.7% since first listed

20 events — show timeline

• 2026-05-22 Contingent — Beaches MLS
• 2026-05-06 Relisted — Beaches MLS
• 2026-05-01 Contingent — Beaches MLS
• 2026-03-27 Price Changed $200,000 Beaches MLS
• 2025-10-03 Listed $260,000 Beaches MLS
• 2019-11-04 Sold (Public Records) $120,000 Public Records
• 2017-02-03 Sold (Public Records) $112,000 Public Records
• 2016-11-21 Listing Removed — Beaches MLS
• 2016-08-15 Listed $115,000 Beaches MLS
• 2014-11-05 Sold (Public Records) $100,000 Public Records
• 2014-11-03 Sold (MLS) $100,000 Beaches MLS
• 2014-10-08 Pending — Beaches MLS
• 2014-07-30 Relisted — Beaches MLS
• 2014-07-27 Pending — Beaches MLS
• 2014-06-04 Relisted — Beaches MLS
• 2014-05-11 Pending — Beaches MLS
• 2014-03-24 Listed $109,000 Beaches MLS
• 2008-05-01 Sold (Public Records) $124,000 Public Records
• 2005-01-24 Sold (Public Records) $120,000 Public Records
• 1985-04-01 Sold (Public Records) $50,800 Public Records

Property tax history

-11.1%/yr

Latest (2025): $269 · +2.7% YoY. Source: county tax records.