280 NW 67th St Unit B203 · Boca Raton, FL 33487

$175,000

2 bd · 2.0 ba · 1,116 sqft · Condo public records · 10 Days on market

Built 1990 $595/mo HOA · 21% 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 +26.5/30.0
• 1% rule +10.0/10.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Rare opportunity in San de Vance! This 2-bedroom, 2-bath condo with vaulted ceilings offers incredible potential and beautiful park-like views in a prime East Boca Raton location. Positioned on the second floor, the unit features a screened-in balcony overlooking a peaceful, green setting—creating the perfect backdrop for a future renovation. With its spacious layout and high ceilings, this property provides an ideal canvas to design and customize to your exact vision. The home is ready for a full renovation, making it a standout opportunity for investors, flippers, or buyers looking to create a personalized space from the ground up. Located just minutes from Boca's beaches, major hi

Key facts

• $595 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Pets allowed with restrictions (breed, number and size limits)
• HOA & community: Association with clubhouse, pool, tennis courts, on-site manager and street lights; Monthly HOA fee of $595; HOA covers cable TV, insurance, grounds maintenance, pest control, sewer, trash, water and common areas

Exterior

• Parking: Detached carport (deeded); Guest parking available; One covered carport space; Approximately 25 open parking spaces
• Security: Security lights; Gated community (no guard); Security patrol
• Utilities: Public water; Public sewer; Sewer and water available
• Home design: Condominium; Two-story building; Unit faces southeast
• Construction: Block and concrete construction; Built using plans
• Exterior features: Tile roof; Not waterfront

Interior

• Bedrooms: One bedroom on the main level
• Flooring: Concrete flooring
• Bathrooms: Two full bathrooms (one on the main level)
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Entrance foyer; High ceilings; Vaulted ceilings; Walk-in closets; Split bedroom layout; Closet cabinetry
• Laundry & utility: Washer hookup inside; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $464 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Cap rate 9.5% vs local median 2.8% 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: Boca Raton Community Middle School (math 59% / reading 61%, grade B, #135 of 571 statewide, top 24%, 1,225 students, 41% FRL); West Boca Raton High School (math 55% / reading 70%, grade B-, #93 of 667 statewide, top 14%, 2,271 students, 28% FRL) — zoned schools average 35% FRL vs 52% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.6%/yr); 330 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 35% of the median local income ($96k/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 + 3.6% rent growth), your $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 21% 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 $175,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.59% ✓
• Cap rate: 9.47%
• Cash-on-cash: 11.36%
• DSCR: 1.51
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.58% rent growth · sell at horizon

5-year hold

• IRR: 1.7%
• Equity multiple: 1.06×
• Total profit: $3,180
• Equity at exit: $26,093

10-year hold

• IRR: 12.2%
• Equity multiple: 2.00×
• Total profit: $49,054
• Equity at exit: $15,131

Cash invested: $49,000 (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 33487

• Rents YoY: 3.6%
• Active inventory: 330
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,778 high
• Mortgage (P&I): −$918
• Tax from tax record: −$145 /mo · $1,741/yr
• Insurance: −$73
• HOA: −$595
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $464

Break-even live

Break-even rent $2,191

Max offer price $175,000

Occupancy floor 78%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
380 NW 67th St Unit J204 Boca Raton, FL	3.0	2.0	1436	$3,250	$2.26	24d	1	0.12mi
380 NW 67th St Boca Raton, FL	3.0	2.0	1436	$3,250	$2.26	17d	1	0.12mi
6500 NW 2nd Ave #512 Boca Raton, FL	2.0	2.0	1316	$2,800	$2.13	24d	1	0.25mi
6500 NW 2nd Ave Unit 311 Boca Raton, FL	3.0	2.0	1316	$2,850	$2.17	3d	1	0.26mi
6461 NW 2nd Ave #501 Boca Raton, FL	2.0	2.0	1300	$2,200	$1.69	21d	1	0.26mi
6461 NW 2nd Ave Boca Raton, FL	2.0	2.0	1300	$2,148	$1.65	24d	2	0.27mi
6850 NW 2nd Ave #18 Boca Raton, FL	2.0	2.0	1420	$3,300	$2.32	21d	1	0.27mi
140 NW 70th St #2040 Boca Raton, FL	2.0	2.0	1018	$2,400	$2.36	24d	1	0.30mi
140 NW 70th St #2030 Boca Raton, FL	2.0	2.0	1018	$2,500	$2.46	5d	1	0.30mi
140 NW 70th St #1020 Boca Raton, FL	2.0	2.0	1018	$2,100	$2.06	8d	1	0.30mi
130 NW 70th St Unit 202 Boca Raton, FL	2.0	2.0	1018	$2,300	$2.26	24d	1	0.34mi
6161 NW 2nd Ave Unit 520 Boca Raton, FL	2.0	2.0	1200	$2,195	$1.83	24d	1	0.35mi
120 NW 70th St Unit 102 Boca Raton, FL	2.0	2.0	1018	$2,250	$2.21	24d	1	0.35mi
159 NW 70th St #518 Boca Raton, FL	2.0	2.0	995	$2,250	$2.26	24d	1	0.38mi
5961 NW 2nd Ave Apt 108 Boca Raton, FL	2.0	2.0	1050	$2,400	$2.29	8d	1	0.39mi
149 NW 70th St Unit 101C Boca Raton, FL	2.0	2.5	1300	$2,750	$2.12	24d	1	0.40mi
7200 NW 2nd Ave #146 Boca Raton, FL	2.0	2.0	1054	$2,300	$2.18	8d	1	0.43mi
7200 NW 2nd Ave #160 Boca Raton, FL	2.0	2.0	1054	$2,400	$2.28	21d	1	0.44mi
6000 NW 2nd Ave #437 Boca Raton, FL	2.0	2.0	1300	$2,500	$1.92	15d	1	0.47mi
92 Lariat Cir Boca Raton, FL	3.0	2.0	1237	$3,800	$3.07	21d	1	0.57mi
255 Glouchester St Boca Raton, FL	3.0	2.0	1470	$3,950	$2.69	24d	1	0.57mi
6080 Dixie Hwy Rm 3 Boca Raton, FL	1.0	1.0	800	$1,100	$1.38	24d	1	0.57mi
250 W Hidden Valley Blvd Unit 104 Boca Raton, FL	3.0	2.0	1387	$3,925	$2.83	24d	1	0.68mi
5501 NW 2nd Ave Boca Raton, FL	1.0–2.0	1.5–2.0	925	$2,500	$2.70	5d	3	0.69mi
100 W Hidden Valley Blvd Boca Raton, FL	1.0–3.0	1.5–2.0	1350	$3,104	$2.30	3d	8	0.69mi
350 W Hidden Valley Blvd Unit 104 Boca Raton, FL	3.0	2.0	1387	$3,900	$2.81	24d	1	0.70mi
5501 NW 2nd Ave Unit 111 Boca Raton, FL	1.0	1.5	850	$1,700	$2.00	8d	1	0.70mi
5501 NW 2nd Ave Unit 111 Boca Raton, FL	1.0	1.5	850	$1,700	$2.00	19d	1	0.70mi
5501 NW 2nd Ave #2130 Boca Raton, FL	2.0	2.0	850	$1,599	$1.88	8d	1	0.70mi
5700 NW 2nd Ave Boca Raton, FL	2.0	2.0	1125	$2,162	$1.92	21d	4	0.70mi
5700 NW 2nd Ave Boca Raton, FL	2.0	2.0	1125	$2,350	$2.09	18d	3	0.70mi
665 Glouchester St Boca Raton, FL	2.0	1.0	800	$2,095	$2.62	5d	2	0.73mi
5500 NW 2nd Ave #514 Boca Raton, FL	3.0	2.0	1200	$2,900	$2.42	15d	1	0.75mi
5301 NW 2nd Ave Boca Raton, FL	2.0	2.0–2.5	1300	$2,640	$2.03	5d	2	0.79mi
5301 NW 2nd Ave Boca Raton, FL	2.0	2.0–2.5	1300	$2,698	$2.08	8d	2	0.79mi
5301 NW 2nd Ave Apt 307 Boca Raton, FL	2.0	2.0	1300	$2,900	$2.23	24d	1	0.80mi
5301 NW 2nd Ave #1010 Boca Raton, FL	2.0	2.0	1300	$2,800	$2.15	24d	1	0.80mi
564 NW 55th St Boca Raton, FL	2.0	2.0	1385	$3,200	$2.31	24d	1	0.83mi
113 Palamino Cir Boca Raton, FL	1.0	1.0	1000	$2,400	$2.40	24d	1	0.83mi
5340 NW 2nd Ave #226 Boca Raton, FL	2.0	2.0	1316	$3,500	$2.66	24d	1	0.84mi

HOA detail condo

• Monthly dues: $595 · $7,140/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-05-17
   status Pending
2. 2026-05-07
   listed $175,000 Active
3. 2025-09-16
   historical
4. 2025-09-11
   listed $149,500 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: $1,741 · $145/mo
• Projected year-2 tax: $1,741 · $145/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 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 · 26 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: $33,335
• − Mortgage interest: −$9,803
• − Property taxes: −$1,741
• − Insurance: −$875
• − Repairs & maintenance: −$2,667
• − Management: −$2,667
• − HOA: −$7,140
• − Depreciation: −$5,091
• Taxable income: $3,352
• Est. tax owed @ 24.0%: −$805
• After-tax cash flow: $4,762/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): 20,717
• Household income: $96,066
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 896.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 13% Two or more races 11% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 1%
• Common ancestry: Romanian 7% Scotch-Irish 5% Lithuanian 2%
• Foreign-born: 21% · Canada, Jamaica, China
• Languages at home: 77% English-only · Spanish 10% Other Indo-European 4% 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: ▼ -331.59%
• Current HPI: 352.5852
• Rent YoY: ▲ 3.58%
• 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

+17.1% since first listed

4 events — show timeline

• 2026-05-17 Pending — Beaches MLS
• 2026-05-07 Listed $175,000 Beaches MLS
• 2025-09-16 Listing Removed — Beaches MLS
• 2025-09-11 Listed $149,500 Beaches MLS

Property tax history

+1.5%/yr

Latest (2025): $1,741 · +3.7% YoY. Source: county tax records.