6420 Boca Del Mar Dr #301 · Boca Raton, FL 33433

$209,990

3 bd · 2.0 ba · 1,582 sqft · Condo public records · 15 Days on market

Built 1980 $1030/mo HOA · 32% 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 +16.9/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience elevated 55+ living in this bright and airy third-floor corner unit, perfectly positioned to overlook the lush, rolling greens of the prestigious Via Mizner golf course. This highly sought-after floor plan features a versatile den that can easily be converted into a third bedroom or a quiet home office, offering the flexibility to suit your specific needs. The interior is bathed in natural light, highlighting a desirable split-bedroom layout and an open-concept living area. There is plenty of room for a formal dining table, a separate laundry room featuring additional utility storage and the kitchen has a spacious pantry and a sunny breakfast nook.   Retreat to the primary

Key facts

• Versatile den
• Overlook golf course
• Split bedroom layout

Tags

• THIRD FLOOR CORNER UNIT
• OVERLOOK GOLF COURSE
• VERSATILE DEN
• SPLIT BEDROOM LAYOUT
• OPEN CONCEPT LIVING AREA
• SEPARATE LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $210k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $207k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 2.8% in Boca Raton — 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 77/100 on livability (#192 in FL, #3,070 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, health & safety A+; 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.
• Market conditions: Rents flat; 430 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $3,192/mo this rent would consume 46% of the median local household income ($84k/yr) (locally 2900% 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 $1k of loan paydown is wiped out by about $6k 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 15 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $130k; list at $210k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 32% 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 $206,840 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.52% ✓
• Cap rate: 7.08%
• Cash-on-cash: 2.79%
• DSCR: 1.12
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.33% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.44×
• Total profit: $-33,041
• Equity at exit: $31,310

10-year hold

• IRR: -18.5%
• Equity multiple: 0.19×
• Total profit: $-47,509
• Equity at exit: $18,156

Cash invested: $58,797 (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 33433

• Rents YoY: 0.3%
• Active inventory: 430
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $3,192 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$166 /mo · $1,992/yr
• Insurance: −$87
• HOA: −$1,030
• Vacancy / Maint / Mgmt: −$670
• Net cashflow: $137

Break-even live

Break-even rent $3,019

Max offer price $209,990

Occupancy floor 91%

Sensitivity live

Price	-10% $256	-5% $196	+0% $137	+5% $77	+10% $18
Rent	-10% $-115	-5% $11	+0% $137	+5% $263	+10% $389
Rate	-1.0pp $243	-0.5pp $190	base $137	+0.5pp $82	+1.0pp $27

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: $52,498
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6314 Longboat Ln W Boca Raton, FL	2.0	2.0	1368	$3,300	$2.41	0d	1	0.05mi
6328 Longboat Ln W #403 Boca Raton, FL	2.0	2.0	1536	$3,000	$1.95	8d	1	0.07mi
6530 Boca del Mar Dr #336 Boca Raton, FL	2.0	2.0	1339	$2,600	$1.94	18d	1	0.14mi
22148 Boca Place Dr Boca Raton, FL	1.0–3.0	1.0–2.0	985	$3,097	$3.14	0d	22	0.19mi
6514 Spring Bottom Way #125 Boca Raton, FL	2.0	2.0	1500	$2,300	$1.53	11d	1	0.21mi
6397 Boca Cir Boca Raton, FL	2.0	2.5	1296	$2,300	$1.77	20d	1	0.29mi
6215 Old Court Rd #505 Boca Raton, FL	3.0	2.5	1602	$3,300	$2.06	25d	1	0.29mi
6061 Boca Colony Dr Boca Raton, FL	1.0–3.0	1.0–2.0	972	$2,606	$2.68	0d	21	0.31mi
6049 Balboa Cir #302 Boca Raton, FL	2.0	2.0	1385	$2,600	$1.88	21d	1	0.35mi
6620 Tiburon Cir Unit 3 Boca Raton, FL	2.0	2.0	1382	$2,900	$2.10	5d	1	0.41mi
6620 Tiburon Cir Unit 3 Boca Raton, FL	2.0	2.0	1382	$2,900	$2.10	15d	1	0.41mi
6463 La Costa Dr #301 Boca Raton, FL	2.0	2.0	1388	$2,900	$2.09	25d	1	0.43mi
6463 La Costa Dr #203 Boca Raton, FL	2.0	2.0	1310	$2,400	$1.83	4d	1	0.43mi
6372 La Costa Dr #306 Boca Raton, FL	2.0	2.0	1388	$2,750	$1.98	25d	1	0.48mi
6925 Town Harbour Blvd Boca Raton, FL	1.0–2.0	1.5–2.5	1187	$2,865	$2.41	0d	15	0.56mi
5900 Camino del Sol #206 Boca Raton, FL	2.0	2.0	1230	$2,450	$1.99	25d	1	0.58mi
22655 Camino del Mar Boca Raton, FL	3.0–5.0	2.5–3.0	2173	$4,925	$2.27	2d	11	0.61mi
6050 Amberwoods Dr Boca Raton, FL	3.0	2.0	1654	$3,995	$2.42	22d	1	0.61mi
22864 Marbella Cir Boca Raton, FL	3.0	2.0	1872	$4,500	$2.40	4d	1	0.64mi
5801 Coach House Cir Unit B Boca Raton, FL	2.0	2.0	1269	$2,800	$2.21	8d	1	0.64mi
5800 Camino del Sol #306 Boca Raton, FL	2.0	2.0	1230	$2,775	$2.26	25d	1	0.65mi
5520 Coach House Cir Unit G Boca Raton, FL	2.0	2.0	1110	$3,000	$2.70	6d	1	0.67mi
6874 Palmetto Cir S Boca Raton, FL	2.0	2.0	1260	$2,775	$2.20	22d	1	0.68mi
5530 Coach House Cir Boca Raton, FL	3.0	2.0	1765	$3,200	$1.81	19d	1	0.68mi
5660 Golfway Dr Boca Raton, FL	4.0	2.0	2152	$8,000	$3.72	25d	1	0.69mi
6860 Calle del Paz S Boca Raton, FL	3.0	2.5	1895	$5,300	$2.80	8d	1	0.70mi
5580 Coach House Cir Unit F Boca Raton, FL	2.0	2.0	1110	$2,850	$2.57	25d	1	0.70mi
5851 Camino del Sol #203 Boca Raton, FL	2.0	2.0	1254	$2,800	$2.23	25d	1	0.71mi
6875 Calle del Paz S Boca Raton, FL	3.0	2.0	1839	$4,240	$2.31	8d	1	0.71mi
22322 Pineapple Walk Dr Boca Raton, FL	3.0	3.0	1367	$2,950	$2.16	15d	1	0.72mi
22322 Pineapple Walk Dr Boca Raton, FL	3.0	3.0	1367	$3,275	$2.40	25d	1	0.72mi
5590 Coach House Cir Unit A Boca Raton, FL	2.0	2.0	1241	$3,200	$2.58	25d	1	0.73mi
5590 Coach House Cir Unit A Boca Raton, FL	2.0	2.0	1242	$3,200	$2.58	22d	1	0.73mi
22861 Ironwedge Dr Boca Raton, FL	3.0	2.5	2105	$4,500	$2.14	19d	1	0.74mi
6420 Via Tierra Boca Raton, FL	3.0	2.0	2094	$3,900	$1.86	11d	1	0.75mi
5750 Coach House Cir Unit G Boca Raton, FL	2.0	2.0	1110	$3,000	$2.70	2d	1	0.76mi
5750 Coach House Cir Unit G Boca Raton, FL	2.0	2.0	1110	$3,000	$2.70	0d	1	0.76mi
5749 Camino del Sol #202 Boca Raton, FL	2.0	2.0	1254	$3,000	$2.39	25d	1	0.79mi
22356 Calibre Ct Unit 401 Boca Raton, FL	2.0	2.0	1075	$2,720	$2.53	17d	1	0.81mi
22356 Calibre Ct Unit 504 Boca Raton, FL	2.0	2.0	1075	$2,295	$2.13	25d	1	0.81mi

HOA detail condo

• Monthly dues: $1,030 · $12,360/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-04-09
   status Pending
2. 2026-03-24
   listed $209,990 Active
3. 1989-04-12
   soldstatus $129,500
4. 1984-10-01
   soldstatus $95,000

ⓘ 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: $1,992 · $166/mo
• Projected year-2 tax: $1,992 · $166/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 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 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,302
• − Mortgage interest: −$11,763
• − Property taxes: −$1,992
• − Insurance: −$1,050
• − Repairs & maintenance: −$3,064
• − Management: −$3,064
• − HOA: −$12,360
• − Depreciation: −$6,109
• Taxable loss: −$1,100
• Est. tax savings @ 24.0%: +$264
• After-tax cash flow: $1,906/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): 47,005
• Household income: $84,091
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 2900.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 18% Two or more races 15% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 2% Dominican 1%
• Common ancestry: Romanian 6% Scotch-Irish 5% Russian 3%
• Foreign-born: 27% · Canada, Jamaica, China
• Languages at home: 65% English-only · Spanish 15% Other Indo-European 10% Russian/Polish/Slavic 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: ▼ -227.85%
• Current HPI: 306.738
• Rent YoY: ▲ 0.33%
• 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

+121.0% since first listed

4 events — show timeline

• 2026-04-09 Pending — MARMLS
• 2026-03-24 Listed $209,990 MARMLS
• 1989-04-12 Sold (Public Records) $129,500 Public Records
• 1984-10-01 Sold (Public Records) $95,000 Public Records

Property tax history

+0.0%/yr

Latest (2025): $1,992 · +3.7% YoY. Source: county tax records.