9233 SW 8th St #119 · Hillsboro Pines, FL 33428

$115,000

1 bd · 1.5 ba · 741 sqft · Condo public records · 686 Days on market

Built 1979 $465/mo HOA · 23% of rent

---

Why this score? — see what drove the B- 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 +26.6/30.0
• 1% rule +10.0/10.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * Motivated Sellers * * ASSOC. says age 55+, credit 680+, 1 INDOOR CAT Allowed; LEASE after 1 yr. for 3 - 12 mo; Xfinity Cable TV & Internet included; Building has new Silicon & Foam roof 2023 and new exterior paint 2024; New pool building; HTD pool. Screened patio with W/ D and tennis/garden view. A/C- 2022, new vanities & flooring in bathrooms, new carpet in bedroom, Water Htr - 2025.

Key facts

• $465 HOA
• Community pool
• Built 1979

Property features AI

Finance

• HOA & community: Monthly association fee; Association amenities: cabana, elevators, laundry, parking, storage, tennis courts, trash chute, heated pool, library, sidewalks, street lights; Association fee covers cable TV, insurance, internet, grounds maintenance, security, sewer, trash, water, common areas, elevator, and pool service; Pets allowed (cats only; pet restrictions possible); Community has 606 units; Senior community

Exterior

• Parking: Assigned parking; Guest parking
• Security: Closed-circuit cameras; Fire alarm; Smoke detectors; Security lights; Entry phone/intercom; Security patrol
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Water and sewer available
• Home design: Condominium (resale); Faces east; 4-story building
• Construction: Concrete block with stucco construction; Other roof type
• Exterior features: Covered and screened patio; Patio; Pool house; Sidewalks; Landscaped grounds; Not waterfront

Interior

• Kitchen: Electric range; Dishwasher; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom on the main level
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric heating (central individual); Central individual cooling with ceiling fans
• Interior features: Entrance foyer; Walk-in closet(s); Partially furnished; Blinds and double-hung metal and sliding windows
• Laundry & utility: Common area laundry; Laundry closet; Outdoor laundry access

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 78/100 on livability (#173 in FL, #2,634 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A+; Watch: amenities F, 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.
• Zoned schools: Hammock Pointe Elementary School (math 61% / reading 63%, grade B, #608 of 2,144 statewide, top 29%, 958 students, 42% FRL); Eagles Landing Middle School (math 66% / reading 67%, grade A-, #84 of 571 statewide, top 16%, 1,508 students, 27% FRL); Olympic Heights Community High (math 52% / reading 64%, grade C, #120 of 667 statewide, top 18%, 2,602 students, 30% FRL) — zoned schools average 33% FRL vs 52% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 62% at this address vs 50% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Palm Beach average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.7%/yr); 267 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $795 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 686 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y ago; this cycle's ask has dropped $60k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $97k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 686 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 1979 — 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. 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?
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: 1.72% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.48%
• DSCR: 1.51
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.72% rent growth · sell at horizon

5-year hold

• IRR: 2.2%
• Equity multiple: 1.09×
• Total profit: $2,744
• Equity at exit: $17,147

10-year hold

• IRR: 12.9%
• Equity multiple: 2.09×
• Total profit: $34,942
• Equity at exit: $9,943

Cash invested: $32,200 (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 33428

• Rents YoY: 3.7%
• Active inventory: 267
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,980 high
• Mortgage (P&I): −$603
• Tax from tax record: −$140 /mo · $1,678/yr
• Insurance: −$48
• HOA: −$465
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $308

Break-even live

Break-even rent $1,590

Max offer price $115,000

Occupancy floor 79%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9273 SW 8th St Boca Raton, FL	1.0–2.0	1.5–2.0	878	$1,700	$1.94	3d	3	0.07mi
9440 SW 8th St Boca Raton, FL	1.0–2.0	1.5–2.0	878	$1,900	$2.16	2d	2	0.11mi
9260 Boca Vue Dr Boca Raton, FL	1.0–3.0	1.0–2.0	1052	$2,342	$2.23	1d	33	0.14mi
9355 SW 8th St Boca Raton, FL	1.0–2.0	1.5–2.0	780	$1,600	$2.05	1d	4	0.16mi
5201 W Hillsboro Blvd Coconut Creek, FL	1.0–3.0	1.0–2.0	1072	$2,029	$1.89	2d	28	1.42mi

HOA detail condo

• Monthly dues: $465 · $5,580/yr
• Likely covers: waterinternetcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-18
   days on market $115,000 Active 686 DOM
2. 2026-06-17
   days on market $115,000 Active 685 DOM
3. 2026-06-16
   days on market $115,000 Active 684 DOM
4. 2026-06-15
   days on market $115,000 Active 683 DOM
5. 2026-06-13
   days on market $115,000 Active 681 DOM
6. 2026-06-09
   days on market $115,000 Active 677 DOM
7. 2026-06-07
   days on market $115,000 Active 675 DOM
8. 2026-06-04
   days on market $115,000 Active 672 DOM
9. 2026-06-03
   days on market $115,000 Active 671 DOM
10. 2026-06-01
    days on market $115,000 Active 669 DOM
11. 2026-05-31
    days on market $115,000 Active 668 DOM
12. 2026-02-21
    price $115,000
13. 2026-02-20
    price $117,990
14. 2026-01-27
    price $118,000
15. 2025-12-22
    price $118,777
16. 2025-12-15
    price $117,900
17. 2025-11-14
    price $118,222
18. 2025-09-07
    price $118,000
19. 2025-05-31
    price $139,222
20. 2025-03-05
    price $139,777
21. 2025-01-09
    price $159,007
22. 2024-11-20
    price $159,777
23. 2024-08-01
    listed $174,777 Active
24. 2024-07-01
    historical
25. 2024-04-02
    price $179,777
26. 2024-01-29
    price $198,777
27. 2024-01-06
    price $199,777
28. 2023-11-02
    price $220,777
29. 2023-06-23
    listed $222,777 Active
30. 2013-09-22
    historical
31. 2005-05-26
    soldstatus $97,000
32. 2000-02-29
    soldstatus $33,500
33. 1999-09-01
    listed $37,500
34. 1989-10-12
    soldstatus $32,000

ⓘ 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: $1,678 · $140/mo
• Projected year-2 tax: $1,678 · $140/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 · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,756
• − Mortgage interest: −$6,442
• − Property taxes: −$1,678
• − Insurance: −$575
• − Repairs & maintenance: −$1,900
• − Management: −$1,900
• − HOA: −$5,580
• − Depreciation: −$3,345
• Taxable income: $2,334
• Est. tax owed @ 24.0%: −$560
• After-tax cash flow: $3,137/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 — Hillsboro Pines

• Score: 78/100
• State rank: #173
• US rank: #2634

Category grades

Amenities F Commute A Cost of living F Crime A+ Employment A+ Housing B- Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 47,588
• Household income: $88,543
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1990.0

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 0.69)
• Race & ethnicity: White 50% Two or more races 23% Hispanic / Latino 22% Black 7% Asian 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Estonian 12% Romanian 3% Scotch-Irish 3%
• Foreign-born: 37% · Canada, Jamaica, Vietnam
• Languages at home: 55% English-only · Spanish 19% Other Indo-European 17% French/Haitian/Cajun 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: ▼ -299.00%
• Current HPI: 373.2649
• Rent YoY: ▲ 3.72%
• 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

+259.4% since first listed

23 events — show timeline

• 2026-02-21 Price Changed $115,000 Beaches MLS
• 2026-02-20 Price Changed $117,990 Beaches MLS
• 2026-01-27 Price Changed $118,000 Beaches MLS
• 2025-12-22 Price Changed $118,777 Beaches MLS
• 2025-12-15 Price Changed $117,900 Beaches MLS
• 2025-11-14 Price Changed $118,222 Beaches MLS
• 2025-09-07 Price Changed $118,000 Beaches MLS
• 2025-05-31 Price Changed $139,222 Beaches MLS
• 2025-03-05 Price Changed $139,777 Beaches MLS
• 2025-01-09 Price Changed $159,007 Beaches MLS
• 2024-11-20 Price Changed $159,777 Beaches MLS
• 2024-08-01 Listed $174,777 Beaches MLS
• 2024-07-01 Listing Removed — Beaches MLS
• 2024-04-02 Price Changed $179,777 Beaches MLS
• 2024-01-29 Price Changed $198,777 Beaches MLS
• 2024-01-06 Price Changed $199,777 Beaches MLS
• 2023-11-02 Price Changed $220,777 Beaches MLS
• 2023-06-23 Listed $222,777 Beaches MLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2005-05-26 Sold (Public Records) $97,000 Public Records
• 2000-02-29 Sold (Public Records) $33,500 Public Records
• 1999-09-01 Listed $37,500 Beaches MLS
• 1989-10-12 Sold (Public Records) $32,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $1,678 · -1.1% YoY. Source: county tax records.