18007 Huapi Bay · Boynton Beach, FL 33436

$163,000

2 bd · 2.0 ba · 960 sqft · Condo public records · 73 Days on market

Built 1977 $270/mo HOA · 13% of rent

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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 +26.0/30.0
• DSCR +8.7/10.0
• 1% rule +7.9/10.0
• 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

Location, location, location! Nestled in a quiet area at the end of a cul de sac, this charming home offers comfort and privacy. Filled with natural light, the spacious layout features a bright kitchen with ample counter space and a built-in breakfast nook. The living room boasts new flooring and opens to a screened-in patio, perfect for relaxing or entertaining. A dedicated dining area includes a built-in buffet for added storage. The primary bedroom offers generous closet space and an en-suite bath with a step-in shower, while the second bedroom is ideal for guests or a home office. Enjoy outdoor living under the covered carport, plus a convenient shed with washer, dryer, and extra storag

Key facts

• 4,356 sq ft lot
• 2 parking spots
• Community pool

Property features AI

Finance

• Other: Association fee: $270 monthly
• Financial info: Not a land-lease property; Pets allowed (with number and size limits)
• HOA & community: Association with monthly fee (community amenities include clubhouse, pool, heated pool, pickleball, shuffleboard, bocce, dog park, laundry, management/manager on site, library, billiard room, picnic area, storage, street lights, gated access, recreation facilities, internet included, security, common areas, reserve funds)

Exterior

• Parking: Attached covered carport; 2 covered/carport spaces; Driveway parking; Total 2 parking spaces
• Security: Gated with guard
• Utilities: Public water; Public sewer; Electricity connected; Water available; Sewer available
• Home design: Manufactured home (double wide); Single-story; Faces south; Resale property
• Construction: Vinyl siding; Metal roof
• Exterior features: Located on a cul-de-sac; Not waterfront; Mobile home on property; Gated community with guard

Interior

• Kitchen: Electric range; Refrigerator; Electric water heater
• Bedrooms: 2 main-level bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Vaulted ceilings; Walk-in closets; Stacked bedroom layout; Furnished
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $163k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $163k).
• Recommended offer: $153k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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); 445 active listings in the ZIP; 14 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 33% 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 $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.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($153k) 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 $153,220 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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. 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?
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: 1.29% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.61%
• DSCR: 1.47
• GRM: 6.5

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: -4.1%
• Equity multiple: 0.85×
• Total profit: $-6,744
• Equity at exit: $24,304

10-year hold

• IRR: 1.4%
• Equity multiple: 1.09×
• Total profit: $3,909
• Equity at exit: $14,093

Cash invested: $45,640 (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: 445
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,099 high
• Mortgage (P&I): −$855
• Tax from tax record: −$62 /mo · $740/yr
• Insurance: −$68
• HOA: −$270
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $404

Break-even live

Break-even rent $1,588

Max offer price $163,000

Occupancy floor 76%

Sensitivity live

Price	-10% $496	-5% $450	+0% $404	+5% $358	+10% $311
Rent	-10% $238	-5% $321	+0% $404	+5% $487	+10% $569
Rate	-1.0pp $486	-0.5pp $445	base $404	+0.5pp $361	+1.0pp $318

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: $40,750
• Closing costs: $4,890
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8949 Oak St Boynton Beach, FL	2.0	2.0	1040	$1,300	$1.25	24d	1	0.36mi
4482 King Theodore Dr Boynton Beach, FL	1.0	1.0	800	$1,795	$2.24	24d	1	0.39mi
9900 Pineapple Tree Dr #106 Boynton Beach, FL	2.0	2.0	1008	$2,250	$2.23	24d	1	0.82mi
9935 Pineapple Tree Dr #202 Boynton Beach, FL	2.0	2.0	1008	$2,575	$2.55	15d	1	0.87mi
3930 Max Pl Boynton Beach, FL	1.0	1.0	925	$2,550	$2.76	22d	1	0.93mi
3500 Sandpiper Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	1147	$2,579	$2.25	22d	22	0.98mi
220 Savannah Lakes Dr Boynton Beach, FL	2.0	2.0	1098	$2,365	$2.15	3d	1	1.29mi
5020 Ashley Lake Dr Boynton Beach, FL	1.0	1.0	784	$2,074	$2.65	24d	1	1.42mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,346	$2.34	14d	1	1.42mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,394	$2.39	3d	1	1.42mi
4101 Mahogany Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	950	$2,169	$2.28	4d	11	1.45mi
5217 Cedar Lake Rd Boynton Beach, FL	1.0–3.0	1.0–2.0	1030	$2,266	$2.20	2d	51	1.46mi
2303 N Congress Ave #15 Boynton Beach, FL	2.0	1.0	925	$1,950	$2.11	24d	1	1.49mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,375	$2.33	2d	19	1.49mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-18
   days on market $163,000 Active 73 DOM
2. 2026-06-17
   days on market $163,000 Active 72 DOM
3. 2026-06-16
   days on market $163,000 Active 71 DOM
4. 2026-06-15
   days on market $163,000 Active 70 DOM
5. 2026-06-13
   days on market $163,000 Active 68 DOM
6. 2026-06-09
   days on market $163,000 Active 64 DOM
7. 2026-06-08
   days on market $163,000 Active 63 DOM
8. 2026-06-07
   days on market $163,000 Active 62 DOM
9. 2026-06-04
   days on market $163,000 Active 59 DOM
10. 2026-06-03
    days on market $163,000 Active 58 DOM
11. 2026-06-02
    days on market $163,000 Active 57 DOM
12. 2026-06-01
    days on market $163,000 Active 56 DOM
13. 2026-05-31
    days on market $163,000 Active 55 DOM
14. 2026-04-06
    listed $170,000 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: $740 · $62/mo
• Projected year-2 tax: $1,353 · $113/mo
• Expected delta: +$613/yr (+$51/mo · 82.8%)

ⓘ 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: $25,186
• − Mortgage interest: −$9,131
• − Property taxes: −$740
• − Insurance: −$815
• − Repairs & maintenance: −$2,015
• − Management: −$2,015
• − HOA: −$3,240
• − Depreciation: −$4,742
• Taxable income: $2,488
• Est. tax owed @ 24.0%: −$597
• After-tax cash flow: $4,247/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

1 event — show timeline

• 2026-04-06 Listed $170,000 Beaches MLS

Property tax history

+2.1%/yr

Latest (2025): $740 · +4.9% YoY. Source: county tax records.