11942 Coral Pl · Watergate, FL 33428

$323,000

3 bd · 2.0 ba · 1,512 sqft · Land · 34 Days on market

Built 1999 4,503 sqft lot

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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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +4.3/10.0
• Rent growth +3.4/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOCATION,LOCATION, LOCATION!!! QUIET SERENE STREET, HAS NEW KITCHEN, BUT OTHER UPGRADES ARE NEEDED. THIS TOOL TIME SPECIAL IS JUST WAITING FOR A FIRST TIME HOMEOWNER. DON'T LET IT SLIP AWAY - MAKE OFFER TODAY!

Key facts

• 4,503 sq ft lot
• 4 parking spots
• Built 1999

Property features AI

Finance

• Other: Pets allowed (cats and dogs, no restrictions)
• Financial info: No land lease

Exterior

• Parking: Four open parking spaces; Concrete and paver block parking surfaces
• Utilities: Public water; Public sewer; Electricity available; Water available
• Home design: Manufactured home (double wide); One story; Resale condition; Faces east
• Construction: Aluminum siding and wood frame construction; Composition shingle roof; Concrete perimeter foundation; Skirt: other
• Exterior features: Backyard with fencing and gate; Wood fence; Outbuilding / shed for storage; Fruit trees on the lot; Room for a pool; Asphalt road access

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Electric water heater
• Bedrooms: Three bedrooms on the main level
• Flooring: Concrete; Laminate; Linoleum; Parquet; Vinyl; Wood
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central air; Ceiling fans; Wall/window unit(s)
• Interior features: Walk-in closets; Split bedroom layout
• Laundry & utility: Laundry closet inside the home; Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $323k.

Deal economics

• At list price, monthly cash flow is $861 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $323k).
• Recommended offer: $313k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#585 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment 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: Coral Sunset Elementary School (math 52% / reading 59%, grade C, #855 of 2,144 statewide, top 41%, 794 students, 51% FRL); Loggers' Run Community Middle School (math 65% / reading 66%, grade A-, #95 of 571 statewide, top 17%, 1,110 students, 30% 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 36% FRL vs 52% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.7%/yr); 267 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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).
• At $3,478/mo this rent would consume 47% of the median local household income ($89k/yr) (locally 1990% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 + 3.7% rent growth), your $90k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($313k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y ago 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.
• Current owner paid $139k; list at $323k implies a 132% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $313,310 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 9.49%
• Cash-on-cash: 11.42%
• DSCR: 1.51
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.72% rent growth · sell at horizon

5-year hold

• IRR: 1.4%
• Equity multiple: 1.05×
• Total profit: $4,855
• Equity at exit: $48,160

10-year hold

• IRR: 11.6%
• Equity multiple: 1.94×
• Total profit: $84,731
• Equity at exit: $27,927

Cash invested: $90,440 (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 33428

• Rents YoY: 3.7%
• Active inventory: 267
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,478 high
• Mortgage (P&I): −$1,694
• Tax from tax record: −$58 /mo · $701/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$730
• Net cashflow: $861

Break-even live

Break-even rent $2,388

Max offer price $323,000

Occupancy floor 70%

Sensitivity live

Price	-10% $1,044	-5% $952	+0% $861	+5% $769	+10% $292
Rent	-10% $586	-5% $723	+0% $861	+5% $998	+10% $1,135
Rate	-1.0pp $1,023	-0.5pp $943	base $861	+0.5pp $777	+1.0pp $692

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: $80,750
• Closing costs: $9,690
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22974 Seaspray Pl Boca Raton, FL	3.0	2.0	1080	$2,200	$2.04	13d	1	0.35mi
6534 NW 80th Dr Parkland, FL	3.0	2.0	1661	$4,500	$2.71	14d	1	0.35mi
11143 Model Cir E Boca Raton, FL	3.0	2.0	1116	$3,350	$3.00	24d	1	0.35mi
22776 Neptune Rd Boca Raton, FL	3.0	2.0	1288	$2,900	$2.25	24d	1	0.38mi
23392 Country Club Dr E Boca Raton, FL	3.0	2.0	1200	$3,500	$2.92	19d	1	0.49mi
22592 Lombard Ave Boca Raton, FL	4.0	2.0	1369	$4,100	$2.99	24d	1	0.53mi
22592 Lombard Ave Boca Raton, FL	4.0	2.0	1369	$4,100	$2.99	2d	1	0.53mi
10457 S 228th Ln Boca Raton, FL	2.0	2.0	1104	$1,900	$1.72	8d	1	0.58mi
10669 Boca Entrada Blvd Boca Raton, FL	3.0	2.0	1083	$3,450	$3.19	24d	1	0.66mi
10323 Boca Bnd W Unit K4 Boca Raton, FL	2.0	2.0	1068	$2,600	$2.43	24d	1	0.66mi
7525 NW 61st Ter #3103 Parkland, FL	3.0	2.0	1760	$3,200	$1.82	8d	1	0.67mi
10267 Boca Bnd W Unit G4 Boca Raton, FL	2.0	2.0	1068	$2,850	$2.67	24d	1	0.72mi
10884 Gantry St Boca Raton, FL	4.0	2.0	1356	$4,200	$3.10	5d	1	0.77mi
22618 Vistawood Way Boca Raton, FL	4.0	2.0	1668	$3,400	$2.04	8d	1	0.78mi
10234 Sleepy Brook Way Boca Raton, FL	3.0	2.0	1552	$3,500	$2.26	8d	1	0.79mi
10110 Boca Entrada Blvd #305 Boca Raton, FL	2.0	2.0	1155	$2,350	$2.03	3d	1	0.82mi
10110 Boca Entrada Blvd Boca Raton, FL	2.0	2.0	1155	$2,338	$2.02	4d	2	0.83mi
10110 Boca Entrada Blvd Boca Raton, FL	2.0	2.0	1155	$2,338	$2.02	3d	2	0.83mi
22541 Vistawood Way Boca Raton, FL	3.0	2.0	1200	$2,750	$2.29	24d	1	0.84mi
10112 Aqua Vista Way Boca Raton, FL	3.0	2.0	1877	$4,800	$2.56	5d	1	0.84mi
11750 Timbers Way Boca Raton, FL	3.0	2.0	1200	$3,150	$2.62	24d	1	0.88mi
7374 NW 61st Ter Parkland, FL	3.0	2.5	1776	$3,750	$2.11	24d	1	0.95mi
5989 NW 74th St Parkland, FL	4.0	2.0	2164	$4,900	$2.26	14d	1	1.01mi
5989 NW 74th St Parkland, FL	4.0	2.0	2164	$5,200	$2.40	8d	1	1.01mi
4784 Alfresco St Boca Raton, FL	4.0	2.0	1343	$3,950	$2.94	24d	1	1.02mi
4954 Ataman St Boca Raton, FL	3.0	2.0	1819	$3,600	$1.98	8d	1	1.05mi
4538 Albedo St Boca Raton, FL	3.0	2.0	1146	$3,400	$2.97	20d	1	1.05mi
10180 Fanfare Dr Unit 10180 Boca Raton, FL	3.0	2.0	1266	$3,800	$3.00	3d	1	1.08mi
10180 Fanfare Dr Unit 10180 Boca Raton, FL	3.0	2.0	1266	$3,800	$3.00	2d	1	1.08mi
22384 Thousand Pines Ln Boca Raton, FL	4.0	3.0	1442	$4,900	$3.40	17d	1	1.09mi
22384 Thousand Pines Ln Boca Raton, FL	4.0	3.0	1442	$4,900	$3.40	8d	1	1.09mi
22735 SW 66th Ave Boca Raton, FL	2.0	2.0	1170	$2,300	$1.97	5d	1	1.09mi
23816 SW 65th Way Boca Raton, FL	2.0	2.0	1954	$900	$0.46	5d	1	1.09mi
22765 SW 66th Ave #204 Boca Raton, FL	2.0	2.0	1170	$3,000	$2.56	24d	1	1.11mi
5800 NW 74th Pl Coconut Creek, FL	1.0–2.0	1.0–2.0	1115	$2,407	$2.16	2d	17	1.23mi
22525 Swordfish Dr Boca Raton, FL	3.0	2.0	1462	$4,500	$3.08	15d	1	1.24mi
22682 Family Cir Unit 22682 Boca Raton, FL	3.0	2.0	1425	$3,400	$2.39	14d	1	1.26mi
22745 SW 65th Way Boca Raton, FL	3.0	2.0	1477	$3,500	$2.37	3d	1	1.26mi
22750 Pickerel Cir Boca Raton, FL	3.0	2.0	1385	$3,500	$2.53	24d	1	1.27mi
22062 Acapulco Ct Boca Raton, FL	3.0	2.0	1184	$3,650	$3.08	24d	1	1.35mi

Listing history 9 events

1. 2026-05-06
   status Pending
2. 2026-04-29
   historical Active Under Contract
3. 2026-04-27
   status Active
4. 2026-04-04
   historical Active Under Contract
5. 2026-04-02
   listed $323,000 Active
6. 2005-11-17
   soldstatus $139,000
7. 1999-07-08
   soldstatus $32,000 209-char remark

   Show marketing remark (209 chars)

   LOCATION,LOCATION, LOCATION!!! QUIET SERENE STREET, HAS NEW KITCHEN, BUT OTHER UPGRADES ARE NEEDED. THIS TOOL TIME SPECIAL IS JUST WAITING FOR A FIRST TIME HOMEOWNER. DON'T LET IT SLIP AWAY - MAKE OFFER TODAY!

8. 1999-05-17
   historical 209-char remark

   Show marketing remark (209 chars)

   LOCATION,LOCATION, LOCATION!!! QUIET SERENE STREET, HAS NEW KITCHEN, BUT OTHER UPGRADES ARE NEEDED. THIS TOOL TIME SPECIAL IS JUST WAITING FOR A FIRST TIME HOMEOWNER. DON'T LET IT SLIP AWAY - MAKE OFFER TODAY!

9. 1999-02-08
   listed $34,900 209-char remark

   Show marketing remark (209 chars)

   LOCATION,LOCATION, LOCATION!!! QUIET SERENE STREET, HAS NEW KITCHEN, BUT OTHER UPGRADES ARE NEEDED. THIS TOOL TIME SPECIAL IS JUST WAITING FOR A FIRST TIME HOMEOWNER. DON'T LET IT SLIP AWAY - MAKE OFFER TODAY!

ⓘ 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: $701 · $58/mo
• Projected year-2 tax: $2,681 · $223/mo
• Expected delta: +$1,980/yr (+$165/mo · 282.4%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,735
• − Mortgage interest: −$18,093
• − Property taxes: −$701
• − Insurance: −$1,615
• − Repairs & maintenance: −$3,339
• − Management: −$3,339
• − Depreciation: −$9,396
• Taxable income: $5,252
• Est. tax owed @ 24.0%: −$1,260
• After-tax cash flow: $9,068/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 — Watergate

• Score: 67/100
• State rank: #585
• US rank: #11201

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment F Housing A+ Health & safety B+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watergate, FL
• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 47,588
• Household income: $88,543
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1990.0

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 0.69)
• Race & ethnicity: White 50% Two or more races 23% Hispanic / Latino 22% Black 7% Asian 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Estonian 12% Romanian 3% Scotch-Irish 3%
• Foreign-born: 37% · Canada, Jamaica, Vietnam
• Languages at home: 55% English-only · Spanish 19% Other Indo-European 17% 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: ▼ -299.00%
• Current HPI: 373.2649
• Rent YoY: ▲ 3.72%
• 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

+825.5% since first listed

9 events — show timeline

• 2026-05-06 Pending — Beaches MLS
• 2026-04-29 Contingent — Beaches MLS
• 2026-04-27 Relisted — Beaches MLS
• 2026-04-04 Contingent — Beaches MLS
• 2026-04-02 Listed $323,000 Beaches MLS
• 2005-11-17 Sold (Public Records) $139,000 Public Records
• 1999-07-08 Sold (MLS) $32,000 Beaches MLS
• 1999-05-17 Listing Removed — Beaches MLS
• 1999-02-08 Listed $34,900 Beaches MLS

Property tax history

+0.0%/yr

Latest (2025): $701 · +5.2% YoY. Source: county tax records.