2615 NE 1st Ct #201 · Boynton Beach, FL 33435

$129,999

1 bd · 1.5 ba · 874 sqft · Condo public records · 167 Days on market

Built 1976 $555/mo HOA · 29% of rent

---

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 +18.9/30.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a move-in-ready condo where you can immediately enjoy the best of 55+ living in sunny South Florida? This beautifully updated and spacious one-bedroom corner residence offers comfort, style, and peace of mind. Major improvements already taken care of: the seller has paid both the new roof (completed April 2026) and elevator (replaced July 2025) assessments. These two significant upgrades add long-term value and convenience. Inside, the home features impact windows throughout, an impact front door with keypad entry, and a bright, open layout. The kitchen was remodeled three years ago with stainless steel appliances, while both the full and half bathrooms have been tastefully upda

Key facts

• Remodeled kitchen
• Storage closet
• Key pad entry

Tags

• IMPACT WINDOWS
• REMODELED KITCHEN
• REMODELED BATHS
• KEY PAD ENTRY
• NEST THERMOSTAT
• STORAGE CLOSET

Property features AI

Finance

• Other: Senior community; Pets not allowed
• HOA & community: Has association; Monthly HOA fee of 555; Association amenities include elevator(s), fitness center, pool, pickleball court(s), laundry, and internet included; HOA covers cable TV, insurance, grounds maintenance, pest control, sewer, trash, common areas, common real estate tax, elevator, and recreation facility

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Public water; Public sewer; Three phase electric; Cable available
• Home design: Condominium; Entry level living area; Faces east; 4-story building
• Construction: CBS construction; Other roof
• Exterior features: Porch; No waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: One bedroom on the main level
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fan(s); Electric cooling
• Interior features: Walk-in closet(s); Blinds
• Laundry & utility: Laundry (association amenities include laundry facilities)

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $133 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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: Rolling Green Elementary School (math 21% / reading 26%, grade F, #2,061 of 2,144 statewide, top 96%, 692 students, 88% 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 schools average 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 50% district-wide (-27 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 rising (+3.6%/yr); 536 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k 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 167 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y 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 $72k; list at $130k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% 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 $114,399 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 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 1976 — 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: 1.46% ✓
• Cap rate: 7.52%
• Cash-on-cash: 4.40%
• DSCR: 1.20
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.64% rent growth · sell at horizon

5-year hold

• IRR: -8.1%
• Equity multiple: 0.70×
• Total profit: $-11,021
• Equity at exit: $19,383

10-year hold

• IRR: 2.8%
• Equity multiple: 1.21×
• Total profit: $7,738
• Equity at exit: $11,240

Cash invested: $36,400 (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 33435

• Rents YoY: 3.6%
• Active inventory: 536
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,897 high
• Mortgage (P&I): −$682
• Tax from tax record: −$74 /mo · $887/yr
• Insurance: −$54
• HOA: −$555
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $133

Break-even live

Break-even rent $1,728

Max offer price $129,999

Occupancy floor 88%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2615 NE 1st Ct #403 Boynton Beach, FL	2.0	2.0	960	$2,100	$2.19	24d	1	0.02mi
2615 NE 1st Ct Boynton Beach, FL	2.0	2.0	960	$1,850	$1.93	19d	2	0.03mi
230 NE 26th Ave #1070 Boynton Beach, FL	1.0	1.5	754	$1,620	$2.15	11d	1	0.07mi
300 NE 26th Ave #1040 Boynton Beach, FL	2.0	2.0	1080	$1,559	$1.44	24d	1	0.07mi
230 NE 26th Ave Boynton Beach, FL	1.0–2.0	1.5–2.0	857	$1,600	$1.87	17d	2	0.07mi
2515 NE 2nd Ct #202 Boynton Beach, FL	2.0	2.0	960	$1,499	$1.56	24d	1	0.09mi
130 NE 26th Ave #307 Boynton Beach, FL	2.0	2.0	982	$3,500	$3.56	24d	1	0.13mi
330 NE 26th Ave Unit 108 Boynton Beach, FL	1.0	1.5	754	$1,600	$2.12	2d	1	0.14mi
330 NE 26th Ave Unit 108 Boynton Beach, FL	1.0	1.5	754	$1,375	$1.82	24d	1	0.14mi
2601 3rd Ct NE #202 Boynton Beach, FL	2.0	2.0	982	$1,500	$1.53	19d	1	0.15mi
2400 NE 1st Ln #206 Boynton Beach, FL	1.0	1.5	754	$1,800	$2.39	15d	1	0.16mi
2615 NE 3rd Ct #4030 Boynton Beach, FL	2.0	2.0	960	$1,699	$1.77	5d	1	0.16mi
2213 NE 1st Ct #103 Boynton Beach, FL	1.0	1.5	624	$1,350	$2.16	24d	1	0.22mi
4 Crossings Cir Unit B Boynton Beach, FL	2.0	1.5	864	$1,950	$2.26	24d	1	0.40mi
30 Crossings Cir Unit H Boynton Beach, FL	2.0	2.0	864	$2,400	$2.78	19d	1	0.41mi
7 Crossings Cir Boynton Beach, FL	2.0	1.5	864	$2,500	$2.89	24d	1	0.41mi
108 NE 20th Ave #206 Boynton Beach, FL	2.0	2.0	860	$1,800	$2.09	20d	1	0.41mi
17 Crossings Cir Unit E Boynton Beach, FL	2.0	2.0	864	$1,900	$2.20	24d	1	0.42mi
14 Crossings Cir Unit E Boynton Beach, FL	2.0	2.0	953	$2,300	$2.41	24d	1	0.44mi
27 Crossings Cir Unit H Boynton Beach, FL	2.0	2.0	864	$1,900	$2.20	15d	1	0.45mi
661 Waterside Dr Hypoluxo, FL	2.0	2.0	768	$2,000	$2.60	24d	1	0.45mi
117 Waterside Dr #117 Hypoluxo, FL	2.0	2.0	768	$2,000	$2.60	24d	1	0.48mi
2202 NE 4th St #10 Boynton Beach, FL	2.0	1.0	757	$1,900	$2.51	3d	1	0.48mi
24 Crossings Cir Unit H Boynton Beach, FL	2.0	2.0	864	$2,050	$2.37	24d	1	0.50mi
311 NE 17th Ave #204 Boynton Beach, FL	2.0	2.0	1100	$1,650	$1.50	24d	1	0.57mi
410 NE 17th Ave #101 Boynton Beach, FL	2.0	1.5	1080	$1,500	$1.39	8d	1	0.61mi
2008 S Federal Hwy Unit C207 Boynton Beach, FL	2.0	2.0	963	$2,000	$2.08	24d	1	0.67mi
1097 Wilkinson Rd Unit B Lantana, FL	2.0	1.0	855	$2,200	$2.57	2d	1	0.72mi
1097 Wilkinson Rd Unit B Lantana, FL	2.0	1.0	855	$2,200	$2.57	2d	1	0.72mi
640 Oak St Boynton Beach, FL	2.0	1.0	765	$2,690	$3.52	8d	1	0.76mi
101 Country Ln Boynton Beach, FL	1.0	1.0	1012	$1,800	$1.78	24d	1	0.79mi
25 S Loafing St Unit 25 Hypoluxo, FL	2.0	1.0	552	$1,500	$2.72	2d	1	0.83mi
25 S Loafing St Unit 25 Hypoluxo, FL	2.0	1.0	552	$1,500	$2.72	24d	1	0.83mi
22 S Loafing St Hypoluxo, FL	2.0	1.0	696	$1,300	$1.87	24d	1	0.83mi
3601 High Ridge Rd Unit 206 Boynton Beach, FL	1.0	1.0	833	$1,950	$2.34	15d	1	0.84mi
1820 New Palm Way #201 Boynton Beach, FL	2.0	2.0	873	$3,500	$4.01	24d	1	0.85mi
3605 High Ridge Rd Unit 204 Boynton Beach, FL	1.0	1.0	833	$1,900	$2.28	17d	1	0.86mi
1632 N Federal Hwy Boynton Beach, FL	1.0–3.0	1.0–2.0	1098	$2,111	$1.92	1d	20	0.88mi
3617 High Ridge Rd Unit 206 Boynton Beach, FL	1.0	1.0	833	$1,950	$2.34	4d	1	0.88mi
65 Relaxed Cir Hypoluxo, FL	2.0	2.0	828	$2,000	$2.42	8d	1	0.89mi

HOA detail condo

• Monthly dues: $555 · $6,660/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $129,999 Active 167 DOM
2. 2026-06-17
   days on market $129,999 Active 166 DOM
3. 2026-06-16
   days on market $129,999 Active 165 DOM
4. 2026-06-15
   days on market $129,999 Active 164 DOM
5. 2026-06-13
   days on market $129,999 Active 162 DOM
6. 2026-06-09
   days on market $129,999 Active 158 DOM
7. 2026-06-07
   days on market $129,999 Active 156 DOM
8. 2026-06-04
   days on market $129,999 Active 153 DOM
9. 2026-06-03
   days on market $129,999 Active 152 DOM
10. 2026-06-01
    days on market $129,999 Active 150 DOM
11. 2026-05-31
    days on market $129,999 Active 149 DOM
12. 2026-04-29
    price $129,999
13. 2026-04-15
    price $133,000
14. 2026-03-23
    price $134,000
15. 2026-03-12
    price $134,500
16. 2026-01-01
    listed $135,000 Active
17. 2025-04-16
    historical
18. 2025-03-04
    price $105,000
19. 2025-02-10
    price $110,000
20. 2024-10-16
    listed $115,900 Active
21. 2024-10-01
    historical
22. 2024-08-19
    price $115,000
23. 2024-03-15
    listed $129,900 Active
24. 2020-08-27
    soldstatus $72,500
25. 2020-08-08
    soldstatus $72,500 Closed
26. 2020-07-27
    status Pending
27. 2020-03-23
    listed $78,900 Active
28. 2005-01-11
    soldstatus $57,000
29. 2005-01-10
    soldstatus $57,000
30. 2004-10-20
    historical
31. 2004-10-04
    listed $65,500
32. 1996-08-27
    soldstatus $18,000
33. 1993-10-25
    soldstatus $15,300

ⓘ 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: $887 · $74/mo
• Projected year-2 tax: $1,079 · $90/mo
• Expected delta: +$192/yr (+$16/mo · 21.6%)

ⓘ 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 ≥105°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,759
• − Mortgage interest: −$7,282
• − Property taxes: −$887
• − Insurance: −$650
• − Repairs & maintenance: −$1,821
• − Management: −$1,821
• − HOA: −$6,660
• − Depreciation: −$3,782
• Taxable loss: −$144
• Est. tax savings @ 24.0%: +$34
• After-tax cash flow: $1,636/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

• Census place: Boynton Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 148,060
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 37,833
• Household income: $67,979
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 1623.0

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 0.65)
• Race & ethnicity: White 41% Black 40% Hispanic / Latino 15% Two or more races 10%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Hispanic 23% Romanian 2% Lithuanian 2%
• Foreign-born: 30% · Canada, Jamaica
• Languages at home: 61% English-only · French/Haitian/Cajun 24% Spanish 11% 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: ▼ -345.86%
• Current HPI: 371.0527
• Rent YoY: ▲ 3.64%
• 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

+749.7% since first listed

22 events — show timeline

• 2026-04-29 Price Changed $129,999 Beaches MLS
• 2026-04-15 Price Changed $133,000 Beaches MLS
• 2026-03-23 Price Changed $134,000 Beaches MLS
• 2026-03-12 Price Changed $134,500 Beaches MLS
• 2026-01-01 Listed $135,000 Beaches MLS
• 2025-04-16 Listing Removed — Beaches MLS
• 2025-03-04 Price Changed $105,000 Beaches MLS
• 2025-02-10 Price Changed $110,000 Beaches MLS
• 2024-10-16 Listed $115,900 Beaches MLS
• 2024-10-01 Listing Removed — Beaches MLS
• 2024-08-19 Price Changed $115,000 Beaches MLS
• 2024-03-15 Listed $129,900 Beaches MLS
• 2020-08-27 Sold (Public Records) $72,500 Public Records
• 2020-08-08 Sold (MLS) $72,500 Beaches MLS
• 2020-07-27 Pending — Beaches MLS
• 2020-03-23 Listed $78,900 Beaches MLS
• 2005-01-11 Sold (Public Records) $57,000 Public Records
• 2005-01-10 Sold (MLS) $57,000 Beaches MLS
• 2004-10-20 Listing Removed — Beaches MLS
• 2004-10-04 Listed $65,500 Beaches MLS
• 1996-08-27 Sold (Public Records) $18,000 Public Records
• 1993-10-25 Sold (Public Records) $15,300 Public Records

Property tax history

+2.3%/yr

Latest (2025): $887 · +2.1% YoY. Source: county tax records.