5106 Lake Catalina Dr Unit A · Boca Raton, FL 33496

$425,000

3 bd · 2.0 ba · 1,819 sqft · Condo public records · 62 Days on market

Built 1989 $550/mo HOA · 10% 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 +27.5/30.0
• Appreciation +10.0/10.0
• DSCR +9.6/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Fabulous DeLeon model, wrap around terrace

Key facts

• Split-bedroom layout
• Panoramic views
• Large walk-in closet

Tags

• WRAPAROUND ENCLOSED TERRACE
• PANORAMIC VIEWS
• DEDICATED DINING ROOM
• BAR SEATING
• SPLIT-BEDROOM LAYOUT
• LARGE WALK-IN CLOSET

Property features AI

Finance

• Other: Pets allowed (restrictions and limits may apply)
• HOA & community: Monthly HOA fee of $550; HOA includes cable TV, grounds maintenance, and trash; Community amenities include clubhouse, fitness center, golf course, pool, tennis courts, pickleball courts, and a cafe/restaurant

Exterior

• Parking: Attached 1-car garage (covered)
• Security: Gated community with guard
• Utilities: Public water; Public sewer; Three phase electric; Cable available
• Home design: Condominium; 2 stories; Faces west; Resale condition
• Construction: CBS construction
• Exterior features: Waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: High ceilings; Walk-in closet(s); Furnished
• Laundry & utility: Inside laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $425k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $425k).
• Recommended offer: $400k (6.0% below list) — sets the bar for market timing.

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: Calusa Elementary School (math 83% / reading 85%, grade A+, #55 of 2,144 statewide, top 3%, 867 students, 17% FRL); Omni Middle School (math 66% / reading 66%, grade A-, #93 of 571 statewide, top 16%, 1,128 students, 29% FRL); Spanish River Community High School (math 64% / reading 74%, grade B, #63 of 667 statewide, top 10%, 2,578 students, 25% FRL) — zoned schools average 24% FRL vs 52% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 73% at this address vs 50% district-wide (+24 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 (+2.3%/yr); 324 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• In year one you build about $45k of equity ($3k loan paydown + $42k appreciation (10.0% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 2.3% rent growth), your $119k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$73k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($400k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $425k implies a 183% 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 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $399,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.35% ✓
• Cap rate: 9.83%
• Cash-on-cash: 12.63%
• DSCR: 1.56
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: 33.2%
• Equity multiple: 3.58×
• Total profit: $307,591
• Equity at exit: $382,874

10-year hold

• IRR: 28.4%
• Equity multiple: 8.02×
• Total profit: $835,860
• Equity at exit: $825,682

Cash invested: $119,000 (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 33496

• Home prices YoY: 3.5%
• Rents YoY: 2.3%
• Active inventory: 324
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $5,718 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$309 /mo · $3,707/yr
• Insurance: −$177
• HOA: −$550
• Vacancy / Maint / Mgmt: −$1,201
• Net cashflow: $1,253

Break-even live

Break-even rent $4,133

Max offer price $425,000

Occupancy floor 73%

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4695 Brandywine Dr Boca Raton, FL	3.0	3.0	1974	$4,750	$2.41	24d	1	0.42mi
17768 Maplewood Dr Boca Raton, FL	4.0	2.0	2123	$5,200	$2.45	22d	1	0.63mi
6503 N Military Trl Boca Raton, FL	1.0–2.0	1.0–2.0	1155	$3,211	$2.78	1d	52	0.67mi
2464 NW 66th Dr Boca Raton, FL	3.0	3.5	2568	$10,000	$3.89	24d	1	0.97mi
5605 Forest Oaks Ter Delray Beach, FL	3.0	3.0	2092	$10,000	$4.78	14d	1	0.99mi
2485 NW 66th Dr Boca Raton, FL	3.0	2.5	2472	$9,500	$3.84	24d	1	1.02mi
2485 NW 66th Dr Boca Raton, FL	3.0	2.5	2472	$9,500	$3.84	10d	1	1.02mi
16843 Boca Delray Dr Delray Beach, FL	2.0	2.0	1533	$4,900	$3.20	22d	1	1.03mi
17372 Boca Club Blvd #408 Boca Raton, FL	3.0	2.0	1271	$5,000	$3.93	24d	1	1.08mi
16658 La Mesa Dr Delray Beach, FL	3.0	2.0	1779	$4,000	$2.25	24d	1	1.10mi
5555 N Military Trl Boca Raton, FL	2.0–3.0	2.0–3.0	1282	$5,069	$3.95	1d	21	1.11mi
17699 Tiffany Trace Dr Boca Raton, FL	4.0	3.0	2264	$8,000	$3.53	15d	1	1.16mi
17324 Boca Club Blvd #903 Boca Raton, FL	3.0	2.0	1347	$4,800	$3.56	24d	1	1.18mi
5500 N Military Trl Boca Raton, FL	1.0–3.0	1.0–2.0	1053	$5,719	$5.43	3d	27	1.19mi
5801 NW 24th Ave #1001 Boca Raton, FL	3.0	2.5	1957	$13,000	$6.64	17d	1	1.20mi
17099 Ryton Ln Boca Raton, FL	3.0	2.5	2492	$18,000	$7.22	24d	1	1.21mi
17274 Boca Club Blvd #2308 Boca Raton, FL	2.0	2.0	1271	$3,500	$2.75	15d	1	1.23mi
4983 Garden Dr Delray Beach, FL	3.0	2.0	2000	$15,000	$7.50	24d	1	1.24mi
5072 Alencia Ct Delray Beach, FL	3.0	2.0	1638	$4,500	$2.75	24d	1	1.25mi
17256 Boca Club Blvd #1401 Boca Raton, FL	2.0	2.0	1271	$5,800	$4.56	24d	1	1.26mi
17712 Candlewood Ter Boca Raton, FL	3.0	2.0	1984	$5,000	$2.52	5d	1	1.27mi
17712 Candlewood Ter Boca Raton, FL	3.0	2.0	1984	$5,000	$2.52	24d	1	1.27mi
2237 NW 53rd St Boca Raton, FL	3.0	3.5	2305	$25,000	$10.85	24d	1	1.29mi
2011 NW 53rd St Boca Raton, FL	3.0	2.5	2461	$11,000	$4.47	12d	1	1.30mi
2093 NW 52nd St Unit 2093 Boca Raton, FL	3.0	2.5	1835	$13,000	$7.08	24d	1	1.31mi
2034 NW 52nd St Boca Raton, FL	2.0	2.5	1527	$12,000	$7.86	24d	1	1.33mi
6750 Congress Ave Boca Raton, FL	1.0–2.0	1.0–2.0	1050	$3,464	$3.30	1d	11	1.34mi
2431 NW 59th St #404 Boca Raton, FL	3.0	2.5	1957	$10,000	$5.11	24d	1	1.34mi
2218 NW 52nd St Boca Raton, FL	2.0	2.5	1482	$13,000	$8.77	24d	1	1.35mi
16415 Berry Way Delray Beach, FL	4.0	2.5	1605	$3,000	$1.87	17d	1	1.35mi
4801 S Citation Dr Delray Beach, FL	1.0–3.0	1.0–2.0	1180	$3,696	$3.13	1d	38	1.35mi
17309 Balboa Point Way Boca Raton, FL	3.0	2.0	2013	$5,500	$2.73	24d	1	1.36mi
17317 Boca Club Blvd #8 Boca Raton, FL	3.0	2.0	1639	$3,500	$2.14	17d	1	1.36mi
17210 Boca Club Blvd #103 Boca Raton, FL	2.0	2.5	2194	$4,000	$1.82	24d	1	1.39mi
17275 Ventana Dr Boca Raton, FL	4.0	2.5	2457	$7,200	$2.93	24d	1	1.41mi
5500 Broken Sound Blvd NW Boca Raton, FL	1.0–3.0	1.0–3.0	1258	$4,763	$3.78	3d	22	1.42mi
17287 Boca Club Blvd #8 Boca Raton, FL	3.0	2.0	1976	$5,800	$2.94	24d	1	1.43mi
5241 Jog Ln Delray Beach, FL	3.0	2.5	1806	$3,650	$2.02	5d	1	1.48mi

HOA detail condo

• Monthly dues: $550 · $6,600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-05-04
   status Pending
2. 2026-04-29
   historical Active Under Contract
3. 2026-04-05
   price $425,000
4. 2026-03-02
   listed $449,900 Active
5. 2013-05-06
   soldstatus $150,000
6. 2013-05-01
   soldstatus $150,000 Sold 42-char remark

   Show marketing remark (42 chars)

   Fabulous DeLeon model, wrap around terrace

7. 2013-04-17
   historical Contingent 42-char remark

   Show marketing remark (42 chars)

   Fabulous DeLeon model, wrap around terrace

8. 2013-04-10
   listed $199,000 New 42-char remark

   Show marketing remark (42 chars)

   Fabulous DeLeon model, wrap around terrace

9. 1991-05-01
   soldstatus $182,500
10. 1989-12-28
    soldstatus $179,000

ⓘ 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: $3,707 · $309/mo
• Projected year-2 tax: $3,707 · $309/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 9/10 Extreme 6 d/yr ≥106°F today · 21 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: $68,618
• − Mortgage interest: −$23,807
• − Property taxes: −$3,707
• − Insurance: −$2,125
• − Repairs & maintenance: −$5,489
• − Management: −$5,489
• − HOA: −$6,600
• − Depreciation: −$12,364
• Taxable income: $9,037
• Est. tax owed @ 24.0%: −$2,169
• After-tax cash flow: $12,863/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): 26,579
• Household income: $114,885
• Rent vs Own: 16.5% rent · 83.5% own
• Severe rent burden: 464.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Two or more races 8% Asian 5% Black 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Scotch-Irish 13% Romanian 9% Italian 3%
• Foreign-born: 24% · Canada, Jamaica, Dominican Republic
• Languages at home: 75% English-only · Spanish 9% Other Indo-European 5% Russian/Polish/Slavic 4%

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: ▲ 10.48%
• Current HPI: 313.9058
• Rent YoY: ▲ 2.31%
• 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

+137.4% since first listed

10 events — show timeline

• 2026-05-04 Pending — Beaches MLS
• 2026-04-29 Contingent — Beaches MLS
• 2026-04-05 Price Changed $425,000 Beaches MLS
• 2026-03-02 Listed $449,900 Beaches MLS
• 2013-05-06 Sold (Public Records) $150,000 Public Records
• 2013-05-01 Sold (MLS) $150,000 Beaches MLS
• 2013-04-17 Contingent — Beaches MLS
• 2013-04-10 Listed $199,000 Beaches MLS
• 1991-05-01 Sold (Public Records) $182,500 Public Records
• 1989-12-28 Sold (Public Records) $179,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $3,707 · +3.6% YoY. Source: county tax records.