9002 Fomento Bay · Boynton Beach, FL 33436

$299,999

3 bd · 2.0 ba · 1,960 sqft · Condo public records · 50 Days on market

Built 2005 $270/mo HOA · 8% 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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.7/10.0
• 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 MLS

Over 1900 sq' under air in this big, beautiful, handicap accessible, 3-Bedroom home! Drywall construction, newer roof, vinyl lap siding, and all-around hurricane protection. 3/4''x4'' oak hardwood floors in all rooms with ceramic tile in both baths. Both baths have 36'' vanities. A/C is 3yrs old. Kitchen has 36'' counters with Corian tops. Walls & ceilings are double-insulated. 8000-watt electric-start generator. Paddle fans in all rooms including the raised porch. Porch is enclosed with glass windows. Lawn sprinkler system. Kenmore Elite refrigerator, dishwasher, range, microwave, washer & dryer. HUGE carport with a wheelchair lift.

Key facts

• 3,485 sq ft lot
• 3 parking spots
• Community pool

Property features AI

Finance

• Other: Located on a privately maintained asphalt road; Not waterfront; Senior community
• Financial info: Not a land-lease property; Pets allowed with possible breed, number, and size restrictions
• HOA & community: Part of Jamaica Bay Inc. association; Monthly HOA fee of $270; HOA includes internet, water, sewer, trash, common areas, recreation facilities, pool service, and reserve funds; Community amenities include clubhouse, pool, billiard room, bocce ball, pickleball and shuffleboard courts, dog park, library, community room, manager on site, and internet included

Exterior

• Parking: Attached carport (covered) providing 3 parking spaces
• Security: Gated community with guard
• Utilities: Public water; Public sewer (sewer connected)
• Home design: Manufactured home (double wide); Single-story; Resale condition; Faces east
• Construction: Vinyl siding; Shingle roof; Skirt: Other; Foundation: see remarks; Total building area reported as 2,800 (source: appraiser); living area reported as 1,960
• Exterior features: Open porch; Shed(s)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: One bedroom on the main level
• Flooring: Other flooring
• Bathrooms: Two full bathrooms (one on the main level)
• Heating & cooling: Central electric heating (individual unit); Central air conditioning with ceiling fans (individual unit)
• Interior features: High ceilings; Accessible entrance with customized wheelchair-accessible and grip-accessible features; Security system owned
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $300k.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $291k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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.
• 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $3,223/mo this rent would consume 51% of the median local household income ($76k/yr) (locally 1813% 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 $2k of loan paydown is wiped out by about $9k 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 50 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $160k; list at $300k implies a 87% 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $290,999 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.07% ✓
• Cap rate: 8.19%
• Cash-on-cash: 6.78%
• DSCR: 1.30
• GRM: 7.8

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: -9.3%
• Equity multiple: 0.67×
• Total profit: $-27,794
• Equity at exit: $44,731

10-year hold

• IRR: -4.5%
• Equity multiple: 0.74×
• Total profit: $-21,601
• Equity at exit: $25,938

Cash invested: $84,000 (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 33436

• Home prices YoY: -26.0%
• Rents YoY: -0.6%
• Active inventory: 445
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $3,223 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$103 /mo · $1,240/yr
• Insurance: −$125
• HOA: −$270
• Vacancy / Maint / Mgmt: −$677
• Net cashflow: $474

Break-even live

Break-even rent $2,622

Max offer price $299,999

Occupancy floor 80%

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4045 White Pine Dr Boynton Beach, FL	3.0	2.0	1566	$1,800	$1.15	1d	1	0.31mi
9498 S Military Trl #5 Boynton Beach, FL	3.0	2.5	1317	$2,900	$2.20	24d	1	0.50mi
8657 Rosalie Ct Boynton Beach, FL	4.0	2.0	2021	$3,499	$1.73	18d	1	0.55mi
5155 Europa Dr Unit J Boynton Beach, FL	3.0	2.0	1333	$2,750	$2.06	24d	1	0.72mi
5373 Mirror Lakes Blvd Boynton Beach, FL	3.0	2.0	1310	$2,100	$1.60	24d	1	0.76mi
5299 Europa Dr Unit P Boynton Beach, FL	3.0	2.0	1606	$3,000	$1.87	13d	1	0.82mi
5234 Europa Dr Unit A Boynton Beach, FL	3.0	2.0	1578	$2,500	$1.58	19d	1	0.84mi
8202 White Rock Cir Boynton Beach, FL	3.0	2.0	1738	$3,300	$1.90	7d	1	0.85mi
5157 Floria Way Unit J Boynton Beach, FL	3.0	2.0	1447	$3,300	$2.28	24d	1	0.85mi
3962 Winfield Rd Boynton Beach, FL	4.0	2.0	1592	$3,300	$2.07	14d	1	0.91mi
3962 Winfield Rd Unit 3962 Boynton Beach, FL	4.0	2.0	1592	$3,300	$2.07	13d	1	0.91mi
5133 Brisata Cir Unit P Boynton Beach, FL	3.0	2.0	1374	$2,800	$2.04	24d	1	0.92mi
9476 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	2302	$3,850	$1.67	1d	1	0.95mi
5275 Europa Dr Unit I Boynton Beach, FL	3.0	2.0	1282	$2,500	$1.95	1d	1	0.95mi
4525 Nutmeg Tree Ln Unit A Boynton Beach, FL	2.0	2.0	1404	$3,000	$2.14	24d	1	0.98mi
3736 Coelebs Ave Boynton Beach, FL	3.0	2.0	1232	$3,000	$2.44	24d	1	1.03mi
9766 Kamena Cir Boynton Beach, FL	3.0	2.5	1596	$3,300	$2.07	5d	1	1.08mi
9215 Sun Pointe Dr Boynton Beach, FL	4.0	2.0	2142	$4,650	$2.17	24d	1	1.08mi
9215 Sun Pointe Dr Boynton Beach, FL	4.0	2.0	2142	$4,650	$2.17	10d	1	1.08mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	7d	1	1.11mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	20d	1	1.11mi
3930 Max Pl Boynton Beach, FL	3.0	2.0	1550	$2,825	$1.82	24d	1	1.14mi
5072 Arbor Glen Cir Lake Worth, FL	3.0	2.0	1232	$3,300	$2.68	14d	1	1.14mi
8520 Tourmaline Blvd Boynton Beach, FL	4.0	2.0	1699	$4,000	$2.35	18d	1	1.15mi
9284 Laurel Green Dr Boynton Beach, FL	3.0	2.0	2302	$4,200	$1.82	1d	1	1.19mi
9284 Laurel Green Dr Boynton Beach, FL	3.0	2.0	2302	$4,200	$1.82	10d	1	1.19mi
9284 Laurel Green Dr Boynton Beach, FL	3.0	2.0	2302	$4,300	$1.87	21d	1	1.19mi
7823 Patriot St Unit 7823 Greenacres, FL	4.0	2.0	2037	$4,800	$2.36	24d	1	1.20mi
3500 Sandpiper Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	1147	$2,579	$2.25	21d	22	1.20mi
9842 Kamena Cir Boynton Beach, FL	3.0	2.5	1596	$2,800	$1.75	24d	1	1.22mi
9654 Sun Pointe Dr Boynton Beach, FL	4.0	2.0	2142	$4,400	$2.05	24d	1	1.22mi
7715 Colony Lake Dr Boynton Beach, FL	4.0	3.0	2406	$3,900	$1.62	24d	1	1.24mi
9629 El Clair Ranch Rd Boynton Beach, FL	4.0	2.0	2231	$4,800	$2.15	24d	1	1.24mi
920 Sun Acres Ln Boynton Beach, FL	2.0	2.0	1352	$2,200	$1.63	24d	1	1.27mi
85 Citrus Park Ln Boynton Beach, FL	4.0	3.0	2208	$4,450	$2.02	24d	1	1.29mi
85 Citrus Park Ln Boynton Beach, FL	4.0	3.0	2208	$4,250	$1.92	14d	1	1.29mi
3561 Oberon Ave Boynton Beach, FL	3.0	2.0	1248	$2,850	$2.28	20d	1	1.30mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,839	$2.79	1d	19	1.36mi
4180 Manor Forest Trl Boynton Beach, FL	3.0	3.0	2021	$4,000	$1.98	18d	1	1.37mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$3,000	$2.39	24d	1	1.39mi

HOA detail condo

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

Listing history 17 events

1. 2026-06-18
   days on market $299,999 Active 50 DOM
2. 2026-06-17
   days on market $299,999 Active 49 DOM
3. 2026-06-16
   days on market $299,999 Active 48 DOM
4. 2026-06-15
   days on market $299,999 Active 47 DOM
5. 2026-06-13
   days on market $299,999 Active 45 DOM
6. 2026-06-09
   days on market $299,999 Active 41 DOM
7. 2026-06-08
   days on market $299,999 Active 40 DOM
8. 2026-06-07
   days on market $299,999 Active 39 DOM
9. 2026-06-04
   days on market $299,999 Active 36 DOM
10. 2026-06-03
    days on market $299,999 Active 35 DOM
11. 2026-06-02
    days on market $299,999 Active 34 DOM
12. 2026-06-01
    days on market $299,999 Active 33 DOM
13. 2026-05-31
    days on market $299,999 Active 32 DOM
14. 2026-04-29
    listed $299,999 Active
15. 2021-04-20
    soldstatus $160,000 Closed 661-char remark

    Show marketing remark (661 chars)

    Over 1900 sq' under air in this big, beautiful, handicap accessible, 3-Bedroom home! Drywall construction, newer roof, vinyl lap siding, and all-around hurricane protection. 3/4''x4'' oak hardwood floors in all rooms with ceramic tile in both baths. Both baths have 36'' vanities. A/C is 3yrs old. Kitchen has 36'' counters with Corian tops. Walls & ceilings are double-insulated. 8000-watt electric-start generator. Paddle fans in all rooms including the raised porch. Porch is enclosed with glass windows. Lawn sprinkler system. Kenmore Elite refrigerator, dishwasher, range, microwave, washer & dryer. HUGE carport with a wheelchair lift.

16. 2021-03-05
    status Pending 661-char remark

    Show marketing remark (661 chars)

    Over 1900 sq' under air in this big, beautiful, handicap accessible, 3-Bedroom home! Drywall construction, newer roof, vinyl lap siding, and all-around hurricane protection. 3/4''x4'' oak hardwood floors in all rooms with ceramic tile in both baths. Both baths have 36'' vanities. A/C is 3yrs old. Kitchen has 36'' counters with Corian tops. Walls & ceilings are double-insulated. 8000-watt electric-start generator. Paddle fans in all rooms including the raised porch. Porch is enclosed with glass windows. Lawn sprinkler system. Kenmore Elite refrigerator, dishwasher, range, microwave, washer & dryer. HUGE carport with a wheelchair lift.

17. 2021-02-24
    listed $164,900 Active 661-char remark

    Show marketing remark (661 chars)

    Over 1900 sq' under air in this big, beautiful, handicap accessible, 3-Bedroom home! Drywall construction, newer roof, vinyl lap siding, and all-around hurricane protection. 3/4''x4'' oak hardwood floors in all rooms with ceramic tile in both baths. Both baths have 36'' vanities. A/C is 3yrs old. Kitchen has 36'' counters with Corian tops. Walls & ceilings are double-insulated. 8000-watt electric-start generator. Paddle fans in all rooms including the raised porch. Porch is enclosed with glass windows. Lawn sprinkler system. Kenmore Elite refrigerator, dishwasher, range, microwave, washer & dryer. HUGE carport with a wheelchair lift.

ⓘ 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: $1,240 · $103/mo
• Projected year-2 tax: $2,490 · $207/mo
• Expected delta: +$1,250/yr (+$104/mo · 100.8%)

ⓘ 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: $38,673
• − Mortgage interest: −$16,805
• − Property taxes: −$1,240
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,094
• − Management: −$3,094
• − HOA: −$3,240
• − Depreciation: −$8,727
• Taxable income: $973
• Est. tax owed @ 24.0%: −$234
• After-tax cash flow: $5,459/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

+81.9% since first listed

4 events — show timeline

• 2026-04-29 Listed $299,999 Beaches MLS
• 2021-04-20 Sold (MLS) $160,000 Beaches MLS
• 2021-03-05 Pending — Beaches MLS
• 2021-02-24 Listed $164,900 Beaches MLS

Property tax history

+0.3%/yr

Latest (2025): $1,240 · +4.3% YoY. Source: county tax records.