5135 Floria Dr Unit G · Boynton Beach, FL 33437

$215,000

3 bd · 2.0 ba · 1,657 sqft · Condo public records · 399 Days on market

Built 1995 $904/mo HOA · 29% of rent ↓ 22% since listing

---

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 +18.7/30.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• Appreciation +4.9/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0

Listing remarks

All age, guard gated community with a beautiful clubhouse, pool and tennis area. Be ready to enjoy social activities, card rooms, a theatre with live shows, a cafe, an art room with a kiln, gym, pickleball, and an on site manager. Lovely first floor unit has an enclosed Florida room with extra storage. Immaculate, large open bright living and dining room plus eat in kitchen with pantry. Plenty of closets. Den could be a 3rd bedroom. Full size washer dryer. Close to all the amenities Palm Beach County Florida has to offer. World class shopping, dining, beaches, parks, water sports, boating and fishing, plus Florida Atlantic University close by. Perfect place to call home. Live, work, play in

Key facts

• $904 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets allowed with restrictions (breed, number and size limits possible)
• HOA & community: HOA with monthly fee; Community clubhouse; Fitness center; Pool; Tennis courts; Pickleball courts; Manager on site; Cafe/restaurant; Community room; Library; HOA covers insurance, grounds maintenance, security and common areas

Exterior

• Parking: Guest parking; Open parking (1 space)
• Security: Gated community with guard
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; 2-story building; Faces south; Resale property
• Construction: Concrete construction
• Exterior features: Porch; Glass-enclosed porch

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Split bedroom layout; Partially furnished; Blinds; Sliding windows

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $189k (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: Crystal Lakes Elementary School (math 55% / reading 64%, grade B-, #690 of 2,144 statewide, top 34%, 788 students, 37% FRL); Boynton Beach Community High (math 13% / reading 25%, grade F, #565 of 667 statewide, top 85%, 1,547 students, 65% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: Rents rising (+1.3%/yr); 479 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $3,082/mo this rent would consume 46% of the median local household income ($81k/yr) (locally 902% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $966 of equity ($1k loan paydown + $-520 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.

Negotiation context

• It's been on market 399 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.

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 $189,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 399 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.43% ✓
• Cap rate: 7.49%
• Cash-on-cash: 4.26%
• DSCR: 1.19
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.24% appreciation · 1.28% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $157
• Equity at exit: $59,844

10-year hold

• IRR: 4.1%
• Equity multiple: 1.41×
• Total profit: $24,404
• Equity at exit: $69,903

Cash invested: $60,200 (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 33437

• Home prices YoY: -0.1%
• Rents YoY: 1.3%
• Active inventory: 479
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $3,082 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$100 /mo · $1,201/yr
• Insurance: −$90
• HOA: −$904
• Vacancy / Maint / Mgmt: −$647
• Net cashflow: $214

Break-even live

Break-even rent $2,812

Max offer price $215,000

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5157 Floria Way Unit J Boynton Beach, FL	3.0	2.0	1447	$3,300	$2.28	24d	1	0.08mi
5133 Brisata Cir Unit P Boynton Beach, FL	3.0	2.0	1374	$2,800	$2.04	24d	1	0.13mi
5155 Europa Dr Unit J Boynton Beach, FL	3.0	2.0	1333	$2,750	$2.06	24d	1	0.22mi
5418 Firenze Dr Unit P Boynton Beach, FL	2.0	2.0	1139	$2,400	$2.11	3d	1	0.33mi
5299 Europa Dr Unit P Boynton Beach, FL	3.0	2.0	1606	$3,000	$1.87	14d	1	0.34mi
5275 Europa Dr Unit I Boynton Beach, FL	3.0	2.0	1282	$2,500	$1.95	2d	1	0.40mi
9498 S Military Trl #5 Boynton Beach, FL	3.0	2.5	1317	$2,900	$2.20	24d	1	0.41mi
5234 Europa Dr Unit A Boynton Beach, FL	3.0	2.0	1578	$2,500	$1.58	19d	1	0.42mi
5373 Mirror Lakes Blvd Boynton Beach, FL	3.0	2.0	1310	$2,100	$1.60	24d	1	0.48mi
10187 Mangrove Dr #104 Boynton Beach, FL	2.0	2.0	1260	$2,350	$1.87	24d	1	0.49mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$3,000	$2.39	24d	1	0.52mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$2,950	$2.35	2d	1	0.52mi
5217 Cedar Lake Rd Boynton Beach, FL	1.0–3.0	1.0–2.0	1030	$2,811	$2.73	2d	51	0.53mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,839	$2.79	1d	19	0.57mi
4944 Equestrian Cir Unit A Boynton Beach, FL	2.0	2.0	1400	$2,500	$1.79	7d	1	0.57mi
4525 Nutmeg Tree Ln Unit A Boynton Beach, FL	2.0	2.0	1404	$3,000	$2.14	24d	1	0.65mi
9654 Sun Pointe Dr Boynton Beach, FL	4.0	2.0	2142	$4,400	$2.05	24d	1	0.74mi
4907 Boxwood Cir Boynton Beach, FL	3.0	2.0	1731	$2,900	$1.68	24d	1	0.75mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	7d	1	0.78mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	20d	1	0.78mi
10592 Tropic Palm Ave #202 Boynton Beach, FL	2.0	2.0	1385	$2,450	$1.77	24d	1	0.81mi
9215 Sun Pointe Dr Boynton Beach, FL	4.0	2.0	2142	$4,650	$2.17	11d	1	0.82mi
9215 Sun Pointe Dr Boynton Beach, FL	4.0	2.0	2142	$4,650	$2.17	24d	1	0.82mi
5895 Autumn Lake Ln Unit A Boynton Beach, FL	3.0	2.0	1469	$2,600	$1.77	24d	1	0.84mi
10624 Tropic Palm Ave #202 Boynton Beach, FL	3.0	2.0	1385	$2,550	$1.84	24d	1	0.85mi
9629 El Clair Ranch Rd Boynton Beach, FL	4.0	2.0	2231	$4,800	$2.15	24d	1	0.89mi
4045 White Pine Dr Boynton Beach, FL	3.0	2.0	1566	$1,800	$1.15	1d	1	0.96mi
6037 Rossmoor Lakes Ct Boynton Beach, FL	3.0	2.0	1617	$4,700	$2.91	24d	1	1.00mi
6039 Sunberry Cir Boynton Beach, FL	4.0	2.0	2149	$3,650	$1.70	5d	1	1.01mi
6165 Country Fair Cir Boynton Beach, FL	3.0	2.5	1656	$3,200	$1.93	24d	1	1.04mi
10596 Sunset Isles Ct Boynton Beach, FL	3.0	2.0	1769	$4,500	$2.54	24d	1	1.05mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,315	$1.93	4d	1	1.07mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,267	$1.89	22d	1	1.07mi
9926 Watermill Cir Unit F Boynton Beach, FL	3.0	2.0	1471	$2,400	$1.63	24d	1	1.14mi
10921 Royal Caribbean Cir Boynton Beach, FL	3.0	2.0	1782	$3,800	$2.13	24d	1	1.17mi
10921 Royal Caribbean Cir Boynton Beach, FL	3.0	2.0	1762	$3,800	$2.16	4d	1	1.17mi
9766 Kamena Cir Boynton Beach, FL	3.0	2.5	1596	$3,300	$2.07	5d	1	1.18mi
8657 Rosalie Ct Boynton Beach, FL	4.0	2.0	2021	$3,499	$1.73	18d	1	1.22mi
9842 Kamena Cir Boynton Beach, FL	3.0	2.5	1596	$2,800	$1.75	24d	1	1.25mi
3962 Winfield Rd Unit 3962 Boynton Beach, FL	4.0	2.0	1592	$3,300	$2.07	14d	1	1.26mi

HOA detail condo

• Monthly dues: $904 · $10,848/yr
• Likely covers: waterpoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $215,000 Active 399 DOM
2. 2026-06-17
   days on market $215,000 Active 398 DOM
3. 2026-06-16
   days on market $215,000 Active 397 DOM
4. 2026-06-15
   days on market $215,000 Active 396 DOM
5. 2026-06-13
   days on market $215,000 Active 394 DOM
6. 2026-06-09
   days on market $215,000 Active 390 DOM
7. 2026-06-07
   days on market $215,000 Active 388 DOM
8. 2026-06-04
   days on market $215,000 Active 385 DOM
9. 2026-06-03
   days on market $215,000 Active 384 DOM
10. 2026-06-01
    days on market $215,000 Active 382 DOM
11. 2026-05-31
    days on market $215,000 Active 381 DOM
12. 2026-05-22
    price $215,000
13. 2026-01-29
    price $225,000
14. 2026-01-07
    price $235,000
15. 2025-10-04
    price $250,000
16. 2025-05-15
    listed $275,000 Active
17. 2025-04-30
    historical $275,000

ⓘ 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: $1,201 · $100/mo
• Projected year-2 tax: $1,784 · $149/mo
• Expected delta: +$583/yr (+$49/mo · 48.5%)

ⓘ 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 ≥106°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,989
• − Mortgage interest: −$12,043
• − Property taxes: −$1,201
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,959
• − Management: −$2,959
• − HOA: −$10,848
• − Depreciation: −$6,255
• Taxable loss: −$352
• Est. tax savings @ 24.0%: +$84
• After-tax cash flow: $2,651/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): 37,229
• Household income: $80,710
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 902.0

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% Two or more races 13% Hispanic / Latino 12% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1% Dominican 1%
• Common ancestry: Scotch-Irish 8% Romanian 8% Hispanic 6%
• Foreign-born: 18% · Canada, Jamaica, Vietnam
• Languages at home: 78% English-only · Spanish 10% French/Haitian/Cajun 6% 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: ▼ -0.24%
• Current HPI: 257.5891
• Rent YoY: ▲ 1.28%
• 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

-21.8% since first listed

6 events — show timeline

• 2026-05-22 Price Changed $215,000 Beaches MLS
• 2026-01-29 Price Changed $225,000 Beaches MLS
• 2026-01-07 Price Changed $235,000 Beaches MLS
• 2025-10-04 Price Changed $250,000 Beaches MLS
• 2025-05-15 Listed $275,000 Beaches MLS
• 2025-04-30 Coming Soon $275,000 Beaches MLS

Property tax history

-0.5%/yr

Latest (2025): $1,201 · +4.2% YoY. Source: county tax records.