18720 Schooner Dr · Boca Raton, FL 33496

$259,900

2 bd · 2.0 ba · 863 sqft · Condo public records · 5 Days on market

Built 1984 $590/mo HOA · 27% 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +7.0/30.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• 1% rule +3.5/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• DSCR +1.2/10.0

Listing remarks

Welcome to this charming updated villa in the gated community of Whisper Walk. This single-story residence features 2 spacious bedrooms and 2 master bathrooms with 863 square feet of thoughtfully designed living space. New Roof! All New! Stainless Steel appliances, quartz countertops, breakfast bar, Vinyl flooring, electrical box, light fixtures, A/C 2023, and much more. The efficient floor plan maximizes comfort and convenience for everyday living. This villa presents an excellent opportunity for those seeking an updated residence in Boca Raton. Don't miss this one! Call Today!

Key facts

• Gated community
• Quartz countertops
• Vinyl flooring

Tags

• GATED COMMUNITY
• STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERTOPS
• BREAKFAST BAR
• VINYL FLOORING
• LIGHT FIXTURES

Property features AI

Finance

• Other: Senior community
• Financial info: Not a land lease; Pets not allowed
• HOA & community: Part of an association (Greenleaf At Whisper Walk); Monthly HOA fee; Association amenities include clubhouse, community room, jogging path, shuffleboard court, pickleball courts, sidewalks, street lights, gated entry, security, and pool/recreation services; HOA fee covers cable TV, grounds maintenance, common areas, common real estate tax, reserve funds, recreation facility, and pool service

Exterior

• Parking: Two open parking spaces on concrete
• Security: Security gate; Security patrol
• Utilities: Public water; Public sewer; Cable available; Electricity available; Sewer connected; Water available
• Home design: Villa; One-story; Resale, updated/remodeled; Faces west
• Construction: CBS construction; Composition/shingle roof; Slab foundation; Built as a single-story villa
• Exterior features: Open patio and open porch; Patio and porch; Waterfront location; Asphalt road surface

Interior

• Kitchen: Dishwasher; Garbage disposal; Electric water heater
• Bedrooms: One bedroom on the main level
• Flooring: Tile; Vinyl
• Bathrooms: Two full bathrooms (one on the main level)
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Walk-in closets; Double-hung metal and sliding windows
• Laundry & utility: Indoor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $260k.

Deal economics

• At list price, monthly cash flow is $-387 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (26.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (15.0% below list).
• Recommended offer: $192k (26.3% below list) — sets the bar for cash-flow.
• Cap rate 4.5% vs local median 2.7% 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: employment A+, health & safety A+, crime B+; 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.
• Zoned schools: Whispering Pines Elementary School (math 62% / reading 69%, grade B+, #500 of 2,144 statewide, top 24%, 1,015 students, 25% FRL); Omni Middle School (math 66% / reading 66%, grade A-, #93 of 571 statewide, top 16%, 1,128 students, 29% 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 28% FRL vs 52% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 63% at this address vs 50% district-wide (+14 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 (+2.3%/yr); 330 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $100k; list at $260k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% 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 $191,560 (26.3% 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. 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. 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?
6. 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?
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: 0.85% ✗
• Cap rate: 4.51%
• Cash-on-cash: -6.38%
• DSCR: 0.72
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 2.59×
• Total profit: $115,626
• Equity at exit: $234,139

10-year hold

• IRR: 17.8%
• Equity multiple: 5.91×
• Total profit: $357,347
• Equity at exit: $504,929

Cash invested: $72,772 (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 33496

• Home prices YoY: 3.5%
• Rents YoY: 2.3%
• Active inventory: 330
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,210 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$71 /mo · $854/yr
• Insurance: −$108
• HOA: −$590
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $-387

Break-even live

Break-even rent $2,699

Max offer price $191,560

Occupancy floor —

Sensitivity live

Price	-10% $-240	-5% $-313	+0% $-387	+5% $-460	+10% $-534
Rent	-10% $-561	-5% $-474	+0% $-387	+5% $-300	+10% $-212
Rate	-1.0pp $-256	-0.5pp $-321	base $-387	+0.5pp $-454	+1.0pp $-523

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18855 Candlewick Dr Boca Raton, FL	2.0	2.0	1022	$2,600	$2.54	26d	1	0.03mi
18890 Candlewick Dr Unit B Boca Raton, FL	2.0	2.0	1044	$2,600	$2.49	26d	1	0.03mi
18765 Candlewick Dr Boca Raton, FL	2.0	2.0	863	$2,300	$2.67	26d	1	0.03mi
18595 Egret Way #18595 Boca Raton, FL	2.0	2.0	1000	$2,200	$2.20	26d	1	0.11mi
68 Suffolk F Unit 68 Boca Raton, FL	1.0	1.5	720	$2,750	$3.82	26d	1	0.44mi
169 Suffolk F Unit F Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	1d	1	0.44mi
209 Suffolk F Unit F Boca Raton, FL	1.0	1.5	720	$1,400	$1.94	26d	1	0.44mi
250 Suffolk F #250 Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	4d	1	0.44mi
171 Suffolk F #171 Boca Raton, FL	1.0	1.5	720	$1,500	$2.08	12d	1	0.44mi
1072 Yarmouth E #1072 Boca Raton, FL	1.0	1.5	738	$1,950	$2.64	26d	1	0.48mi
4067 Yarmouth D Boca Raton, FL	1.0	1.5	738	$1,650	$2.24	5d	1	0.50mi
3057 Yarmouth C Boca Raton, FL	2.0	2.0	916	$2,450	$2.67	1d	1	0.55mi
74 Preston Way Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	24d	1	0.57mi
74 Preston Way Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	26d	1	0.57mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,350	$1.88	26d	1	0.57mi
91 Preston Way Unit 91 Boca Raton, FL	1.0	1.0	600	$1,500	$2.50	26d	1	0.57mi
204 Preston Way #204 Boca Raton, FL	1.0	1.0	810	$1,500	$1.85	3d	1	0.57mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,300	$1.81	4d	1	0.57mi
3049 Wolverton E Unit 3049 Boca Raton, FL	2.0	2.0	896	$2,200	$2.46	9d	1	0.59mi
4049 Wolverton C Unit C Boca Raton, FL	2.0	2.0	896	$2,500	$2.79	4d	1	0.61mi
3049 Wolverton C #3049 Boca Raton, FL	2.0	2.0	896	$2,200	$2.46	9d	1	0.67mi
77 Preston Way #77 Boca Raton, FL	1.0	1.0	600	$1,450	$2.42	24d	1	0.68mi
162 Preston D Boca Raton, FL	1.0	1.0	810	$1,495	$1.85	26d	1	0.68mi
77 Preston Way #77 Boca Raton, FL	1.0	1.0	600	$1,350	$2.25	9d	1	0.68mi
351 Mansfield Dr #351 Boca Raton, FL	2.0	1.5	840	$2,300	$2.74	26d	1	0.68mi
4030 Rexford A Unit 403 Boca Raton, FL	2.0	2.0	896	$1,700	$1.90	9d	1	0.68mi
4030 Rexford A Unit 403 Boca Raton, FL	2.0	2.0	896	$1,850	$2.06	26d	1	0.68mi
84 Mansfield Dr Unit 84 Boca Raton, FL	2.0	1.5	840	$1,583	$1.88	26d	1	0.70mi
543 Mansfield M #543 Boca Raton, FL	2.0	1.5	835	$1,890	$2.26	26d	1	0.70mi
431 Mansfield K Unit K Boca Raton, FL	2.0	1.5	835	$1,600	$1.92	24d	1	0.70mi
588 Mansfield M Unit M Boca Raton, FL	2.0	1.5	835	$1,475	$1.77	26d	1	0.70mi
9 Mansfield B #9 Boca Raton, FL	1.0	1.5	810	$1,400	$1.73	26d	1	0.70mi
392 Mansfield I Unit I Boca Raton, FL	2.0	1.5	840	$1,850	$2.20	26d	1	0.70mi
445 Mansfield M Unit 445 Boca Raton, FL	2.0	1.5	840	$1,700	$2.02	9d	1	0.70mi
1030 Rexford B Boca Raton, FL	2.0	2.0	896	$1,800	$2.01	26d	1	0.74mi
4030 Rexford B Boca Raton, FL	2.0	2.0	916	$1,700	$1.86	20d	1	0.74mi
2039 Rexford C Boca Raton, FL	2.0	2.0	896	$1,550	$1.73	26d	1	0.74mi
517 Mansfield M Unit 517 Boca Raton, FL	1.0	1.5	715	$1,550	$2.17	26d	1	0.77mi
1043 Cornwall C Boca Raton, FL	2.0	1.5	861	$1,795	$2.08	16d	1	0.80mi
2043 Cornwall C #2043 Boca Raton, FL	2.0	1.5	861	$1,800	$2.09	26d	1	0.80mi

HOA detail condo

• Monthly dues: $590 · $7,080/yr
• Likely covers: electricsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-06-21
   days on market $259,900 Active 5 DOM
2. 2026-06-18
   days on market $259,900 Active 2 DOM
3. 2026-06-17
   remarks 585-char remark
4. 2026-06-17
   listed $259,900 Active 1 DOM

ⓘ 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: $854 · $71/mo
• Projected year-2 tax: $2,157 · $180/mo
• Expected delta: +$1,303/yr (+$109/mo · 152.5%)

ⓘ 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 ≥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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,515
• − Mortgage interest: −$14,558
• − Property taxes: −$854
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,121
• − Management: −$2,121
• − HOA: −$7,080
• − Depreciation: −$7,561
• Taxable loss: −$9,080
• Est. tax savings @ 24.0%: +$2,179
• After-tax cash flow: $-2,463/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): 26,579
• Household income: $114,885
• Rent vs Own: 16.5% rent · 83.5% own
• Severe rent burden: 464.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Two or more races 8% Asian 5% Black 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Scotch-Irish 13% Romanian 9% Italian 3%
• Foreign-born: 24% · Canada, Jamaica, Dominican Republic
• Languages at home: 75% English-only · Spanish 9% Other Indo-European 5% Russian/Polish/Slavic 4%

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: ▲ 10.48%
• Current HPI: 313.9058
• Rent YoY: ▲ 2.31%
• 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

+333.2% since first listed

3 events — show timeline

• 2026-06-15 Listed $259,900 Beaches MLS
• 2026-04-08 Sold (Public Records) $100,000 Public Records
• 1986-11-01 Sold (Public Records) $60,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $854 · +2.6% YoY. Source: county tax records.