8304 Waterline Dr #103 · Boynton Beach, FL 33472

$355,000

3 bd · 2.0 ba · 1,750 sqft · Condo public records · 450 Days on market

Built 1994 $917/mo HOA · 24% of rent

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Why this score? — see what drove the D+ 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 +13.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Appreciation +5.1/10.0
• Schools +4.3/10.0
• DSCR +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

.. Rarely available Santa Barbara model in the Harbours @ Aberdeen East. This 3 bedroom/2 bath home is tiled throughout. The third bedroom is being used as a den but can be converted. Beautiful plantation shutters throughout the home. The glass and screen enclosed air-conditioned Lanai is not included in the square footage but adds to your comfortable living space. Relaxing lake views in your backyard from your Lanai. Vaulted ceilings make this unit light and bright. Newer AC and HWH in 2024. Full accordion storm protection. Enjoy the many amenities with NO MEMBERSHIP FEES. The clubhouse amenities are all included in your HOA fee. Aberdeen East is a beautifully landscaped 55+ community tha

Key facts

• Landscaped community
• Lake views
• Plantation shutters

Tags

• PLANTATION SHUTTERS
• LAKE VIEWS
• VAULTED CEILINGS
• ACCORDION STORM PROTECTION
• CLUBHOUSE AMENITIES
• LANDSCAPED COMMUNITY

Property features AI

Finance

• HOA & community: Community association with monthly fee; Association fee covers cable TV, insurance, grounds maintenance, sewer, water, common real estate tax, and recreation facilities; Community amenities include clubhouse, fitness center, pool, spa/hot tub, tennis courts, pickleball courts, billiard room, and library; Community of 105 units; Senior community; Pets allowed (restrictions apply)

Exterior

• Parking: Attached garage with one covered space and garage door opener
• Security: Smoke detectors; Security system
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium villa; Multi/split levels; Single-story building (unit in a multi-story community); Faces northeast
• Construction: CBS construction; Barrel roof
• Exterior features: Screened patio; Patio; Waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Cathedral and vaulted ceilings; Walk-in closets; Unfurnished
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $355k.

Deal economics

• At list price, monthly cash flow is $-16 ($-196/yr) — negative.
• To cash-flow at today's rent, offer at most $352k (0.8% below list).
• Meets the 1% rule at list price ($4k rent vs $355k).
• Recommended offer: $312k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% 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.
• Market conditions: 169 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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

• In year one you build about $3k of equity ($2k loan paydown + $703 appreciation (0.2% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 450 days — a 12% lower offer ($312k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $156k; list at $355k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $312,400 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 450 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 1.09% ✓
• Cap rate: 6.24%
• Cash-on-cash: -0.20%
• DSCR: 0.99
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.92×
• Total profit: $-7,663
• Equity at exit: $106,611

10-year hold

• IRR: 4.0%
• Equity multiple: 1.44×
• Total profit: $44,142
• Equity at exit: $131,004

Cash invested: $99,400 (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 33472

• Home prices YoY: 0.1%
• Active inventory: 169
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,877 high
• Mortgage (P&I): −$1,862
• Tax from tax record: −$153 /mo · $1,835/yr
• Insurance: −$148
• HOA: −$917
• Vacancy / Maint / Mgmt: −$814
• Net cashflow: $-16

Break-even live

Break-even rent $3,898

Max offer price $352,115

Occupancy floor 95%

Sensitivity live

Price	-10% $185	-5% $84	+0% $-16	+5% $-117	+10% $-217
Rent	-10% $-323	-5% $-169	+0% $-16	+5% $137	+10% $290
Rate	-1.0pp $162	-0.5pp $74	base $-16	+0.5pp $-108	+1.0pp $-202

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: $88,750
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6581 Marissa Cir Lake Worth, FL	3.0	2.0	1414	$3,300	$2.33	19d	1	0.42mi
8082 Aberdeen Dr #102 Boynton Beach, FL	2.0	2.0	1619	$8,500	$5.25	25d	1	0.42mi
6143 Windlass Cir Boynton Beach, FL	4.0	2.5	2245	$4,200	$1.87	19d	1	0.50mi
6731 Southport Dr Boynton Beach, FL	3.0	2.0	1727	$3,600	$2.08	25d	1	0.59mi
7705 Thornlee Dr Lake Worth, FL	4.0	2.5	2382	$3,500	$1.47	2d	1	0.78mi
8520 Tourmaline Blvd Boynton Beach, FL	4.0	2.0	1699	$4,000	$2.35	19d	1	0.79mi
6365 Lansdowne Cir Boynton Beach, FL	3.0	2.0	1769	$3,200	$1.81	3d	1	0.88mi
7366 Ashley Shores Cir Lake Worth, FL	3.0	2.5	1945	$4,200	$2.16	8d	1	0.89mi
9121 Paragon Way Boynton Beach, FL	4.0	2.0	2154	$4,950	$2.30	25d	1	0.99mi
6836 Long Key St Lake Worth, FL	3.0	2.5	1637	$2,950	$1.80	18d	1	0.99mi
7418 Wescott Ter Lake Worth, FL	3.0	2.5	2170	$3,250	$1.50	8d	1	1.01mi
5072 Arbor Glen Cir Lake Worth, FL	3.0	2.0	1232	$3,300	$2.68	15d	1	1.25mi
9336 Water Course Way Boynton Beach, FL	3.0	2.0	1779	$3,600	$2.02	22d	1	1.32mi
9336 Water Course Way Boynton Beach, FL	3.0	2.0	1779	$3,600	$2.02	25d	1	1.32mi
9284 Laurel Green Dr Boynton Beach, FL	3.0	2.0	2302	$4,200	$1.82	11d	1	1.40mi
9284 Laurel Green Dr Boynton Beach, FL	3.0	2.0	2302	$4,200	$1.82	2d	1	1.40mi
9284 Laurel Green Dr Boynton Beach, FL	3.0	2.0	2302	$4,300	$1.87	22d	1	1.40mi
8657 Rosalie Ct Boynton Beach, FL	4.0	2.0	2021	$3,499	$1.73	19d	1	1.41mi
9215 Sun Pointe Dr Boynton Beach, FL	4.0	2.0	2142	$4,650	$2.17	11d	1	1.44mi
9215 Sun Pointe Dr Boynton Beach, FL	4.0	2.0	2142	$4,650	$2.17	25d	1	1.44mi
9629 El Clair Ranch Rd Boynton Beach, FL	4.0	2.0	2231	$4,800	$2.15	25d	1	1.47mi
8884 Shoal Creek Ln Boynton Beach, FL	3.0	2.0	1936	$4,900	$2.53	25d	1	1.48mi
8884 Shoal Creek Ln Boynton Beach, FL	3.0	2.0	1936	$4,750	$2.45	0d	1	1.48mi
8884 Shoal Creek Ln Boynton Beach, FL	3.0	2.0	1936	$5,000	$2.58	11d	1	1.48mi
7218 Michigan Isle Rd Lake Worth, FL	3.0	2.0	1656	$3,500	$2.11	14d	1	1.49mi
7218 Michigan Isle Rd Lake Worth, FL	3.0	2.0	1656	$3,500	$2.11	15d	1	1.49mi
6039 Sunberry Cir Boynton Beach, FL	4.0	2.0	2149	$3,650	$1.70	6d	1	1.50mi

HOA detail condo

• Monthly dues: $917 · $11,004/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $355,000 Active 450 DOM
2. 2026-06-17
   days on market $355,000 Active 449 DOM
3. 2026-06-16
   days on market $355,000 Active 448 DOM
4. 2026-06-15
   days on market $355,000 Active 447 DOM
5. 2026-06-13
   days on market $355,000 Active 445 DOM
6. 2026-06-09
   days on market $355,000 Active 441 DOM
7. 2026-06-07
   days on market $355,000 Active 439 DOM
8. 2026-06-04
   days on market $355,000 Active 436 DOM
9. 2026-06-03
   days on market $355,000 Active 435 DOM
10. 2026-06-01
    days on market $355,000 Active 433 DOM
11. 2026-05-31
    days on market $355,000 Active 432 DOM
12. 2026-02-23
    price $355,000
13. 2025-06-26
    price $365,000
14. 2025-03-25
    listed $375,000 Active
15. 1994-08-03
    soldstatus $156,400

ⓘ 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: $1,835 · $153/mo
• Projected year-2 tax: $2,946 · $246/mo
• Expected delta: +$1,112/yr (+$93/mo · 60.6%)

ⓘ 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 6 d/yr ≥106°F today · 22 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: $46,529
• − Mortgage interest: −$19,886
• − Property taxes: −$1,835
• − Insurance: −$1,775
• − Repairs & maintenance: −$3,722
• − Management: −$3,722
• − HOA: −$11,004
• − Depreciation: −$10,327
• Taxable loss: −$5,742
• Est. tax savings @ 24.0%: +$1,378
• After-tax cash flow: $1,182/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

• City population: 148,060
• Population (ZIP): 18,689

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 0.56)
• Race & ethnicity: White 63% Hispanic / Latino 18% Two or more races 14% Black 10% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 7%
• Common ancestry: Romanian 5% Scotch-Irish 4% Hispanic 3%
• Foreign-born: 24% · Canada, China, Jamaica
• Languages at home: 77% English-only · Spanish 11% Other Indo-European 4% French/Haitian/Cajun 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: ▲ 0.20%
• Current HPI: 268.1142
• Rent YoY: —
• Metro: —
• 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

+127.0% since first listed

4 events — show timeline

• 2026-02-23 Price Changed $355,000 Beaches MLS
• 2025-06-26 Price Changed $365,000 Beaches MLS
• 2025-03-25 Listed $375,000 Beaches MLS
• 1994-08-03 Sold (Public Records) $156,400 Public Records

Property tax history

+0.3%/yr

Latest (2025): $1,835 · +3.7% YoY. Source: county tax records.