18900 Stewart Cir #7 · Boca Raton, FL 33496

$300,000

2 bd · 2.0 ba · 1,227 sqft · SingleFamily public records · 45 Days on market

Built 1987 1,742 sqft lot $425/mo HOA · 16% 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 +12.3/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• 1% rule +4.0/10.0
• Livability +3.9/5.0
• DSCR +3.6/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Rehabbed 2 bedroom 2 bath villa with 1 Car garage upgraded kitchen and baths, fresh paint, carpet, and garden view. CANNOT RENT FOR 18 MONTHS. HOA PAYABLE $535 PER QUARTER.

Key facts

• Garden view
• Granite countertops
• Serene pool

Tags

• GARDEN VIEW
• SERENE POOL
• SCREENED IN FRONT PORCH
• UPDATED OPEN LAYOUT KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Other: Senior community
• Financial info: Not a land lease
• HOA & community: Association: Town Villas and Moonlake; Quarterly HOA payment; HOA covers cable TV, grounds maintenance, common areas, roof repairs, recreation facilities, and pool service; Association amenities: clubhouse, fitness center, pool (heated), spa/hot tub, tennis courts, pickleball courts, bocce ball, billiard room, game room, library, community room, manager on site, street lights

Exterior

• Parking: Attached garage with 1 garage space; Covered parking (1); Driveway; Garage door opener; Total 2 parking spaces (including open parking)
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Water available; Sewer available
• Home design: Villa; One story; Entry-level living area; Faces west; Resale condition
• Construction: Built with CBS construction; Concrete flat roof
• Exterior features: Open patio; Screened porch; Patio; Porch; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Engineered wood
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Kitchen island; Walk-in closets; Split bedroom layout; Partially furnished
• Laundry & utility: Indoor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-56 ($-668/yr) — negative.
• To cash-flow at today's rent, offer at most $290k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $271k (9.8% below list).
• Recommended offer: $271k (9.8% below list) — sets the bar for 1% rule.

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); 324 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $32k of equity ($2k loan paydown + $30k 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.
• At projected returns (10.0% appreciation + 2.3% rent growth), your $84k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y 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 $135k; list at $300k implies a 122% 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 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $270,596 (9.8% 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. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.90% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.79%
• DSCR: 0.96
• GRM: 9.2

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: 23.5%
• Equity multiple: 2.88×
• Total profit: $158,092
• Equity at exit: $270,264

10-year hold

• IRR: 20.7%
• Equity multiple: 6.53×
• Total profit: $464,890
• Equity at exit: $582,834

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 33496

• Home prices YoY: 3.5%
• Rents YoY: 2.3%
• Active inventory: 324
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,706 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$70 /mo · $842/yr
• Insurance: −$125
• HOA: −$425
• Vacancy / Maint / Mgmt: −$568
• Net cashflow: $-56

Break-even live

Break-even rent $2,776

Max offer price $290,169

Occupancy floor 97%

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
9110 Fairbanks Ln #4 Boca Raton, FL	2.0	2.0	1227	$2,400	$1.96	24d	1	0.16mi
18730 Stewart Cir #5 Boca Raton, FL	2.0	2.0	1227	$2,500	$2.04	24d	1	0.21mi
18855 Candlewick Dr Boca Raton, FL	2.0	2.0	1022	$2,600	$2.54	24d	1	0.40mi
18890 Candlewick Dr Unit B Boca Raton, FL	2.0	2.0	1044	$2,600	$2.49	24d	1	0.40mi
18765 Candlewick Dr Boca Raton, FL	2.0	2.0	863	$2,300	$2.67	24d	1	0.40mi
18595 Egret Way #18595 Boca Raton, FL	2.0	2.0	1000	$2,200	$2.20	24d	1	0.44mi
4007 Yarmouth a Boca Raton, FL	2.0	2.0	1132	$2,200	$1.94	24d	1	0.46mi
1072 Yarmouth E #1072 Boca Raton, FL	1.0	1.5	738	$1,950	$2.64	24d	1	0.51mi
4067 Yarmouth D Boca Raton, FL	1.0	1.5	738	$1,650	$2.24	3d	1	0.53mi
9104 Affirmed Ln Boca Raton, FL	3.0	2.0	1266	$3,210	$2.54	2d	1	0.54mi
9448 Saddlebrook Dr Boca Raton, FL	3.0	2.0	1243	$3,500	$2.82	20d	1	0.54mi
9448 Saddlebrook Dr Unit 9448 Boca Raton, FL	3.0	2.0	1243	$3,500	$2.82	24d	1	0.54mi
209 Suffolk F Unit F Boca Raton, FL	1.0	1.5	720	$1,400	$1.94	24d	1	0.57mi
68 Suffolk F Unit 68 Boca Raton, FL	1.0	1.5	720	$2,750	$3.82	24d	1	0.57mi
250 Suffolk F #250 Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	3d	1	0.57mi
171 Suffolk F #171 Boca Raton, FL	1.0	1.5	720	$1,500	$2.08	10d	1	0.57mi
9785 Ridgecreek Rd Boca Raton, FL	2.0	2.0	1172	$3,450	$2.94	5d	1	0.63mi
9785 Ridgecreek Rd Boca Raton, FL	3.0	2.0	1172	$3,600	$3.07	18d	1	0.63mi
9841 Ridgecreek Rd Boca Raton, FL	3.0	2.0	1435	$4,500	$3.14	24d	1	0.65mi
18917 Cloud Lake Cir Boca Raton, FL	3.0	2.0	1132	$3,350	$2.96	24d	1	0.66mi
3049 Wolverton E Unit 3049 Boca Raton, FL	2.0	2.0	896	$2,200	$2.46	7d	1	0.66mi
9850 Ridgecreek Rd Boca Raton, FL	3.0	2.0	1364	$3,600	$2.64	24d	1	0.67mi
4049 Wolverton C Unit C Boca Raton, FL	2.0	2.0	896	$2,500	$2.79	2d	1	0.68mi
9708 Erica Ct Boca Raton, FL	2.0	2.0	1410	$4,800	$3.40	24d	1	0.68mi
18813 Cloud Lake Cir Boca Raton, FL	3.0	2.0	1132	$3,400	$3.00	4d	1	0.69mi
18813 Cloud Lake Cir Boca Raton, FL	3.0	2.0	1132	$3,500	$3.09	4d	1	0.69mi
3049 Wolverton C #3049 Boca Raton, FL	2.0	2.0	896	$2,200	$2.46	7d	1	0.72mi
8664 Jasmine Way Boca Raton, FL	2.0	2.0	1162	$1,795	$1.54	24d	1	0.73mi
4067 Ainslie Dr #4067 Boca Raton, FL	2.0	1.5	861	$1,815	$2.11	24d	1	0.76mi
8705 Via Giula #4 Boca Raton, FL	3.0	2.0	1477	$3,500	$2.37	24d	1	0.79mi
8705 Via Giula #4 Boca Raton, FL	3.0	2.0	1477	$3,400	$2.30	15d	1	0.79mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,350	$1.88	24d	1	0.80mi
74 Preston Way Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	22d	1	0.80mi
204 Preston Way #204 Boca Raton, FL	1.0	1.0	810	$1,500	$1.85	1d	1	0.80mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,300	$1.81	2d	1	0.80mi
74 Preston Way Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	24d	1	0.80mi
4030 Rexford A Unit 403 Boca Raton, FL	2.0	2.0	896	$1,850	$2.06	24d	1	0.80mi
4030 Rexford A Unit 403 Boca Raton, FL	2.0	2.0	896	$1,700	$1.90	7d	1	0.80mi
9713 Boca Gardens Pkwy Unit D Boca Raton, FL	3.0	3.5	1325	$3,995	$3.02	15d	1	0.81mi
1043 Cornwall C Boca Raton, FL	2.0	1.5	861	$1,795	$2.08	15d	1	0.83mi

HOA detail

• Monthly dues: $425 · $5,100/yr

Listing history 35 events

1. 2026-06-18
   days on market $300,000 Active 45 DOM
2. 2026-06-17
   days on market $300,000 Active 44 DOM
3. 2026-06-16
   days on market $300,000 Active 43 DOM
4. 2026-06-15
   days on market $300,000 Active 42 DOM
5. 2026-06-13
   days on market $300,000 Active 40 DOM
6. 2026-06-10
   price $300,000 Active 36 DOM
7. 2026-06-09
   days on market $299,000 Active 36 DOM
8. 2026-06-08
   days on market $299,000 Active 35 DOM
9. 2026-06-07
   days on market $299,000 Active 34 DOM
10. 2026-06-04
    remarks 699-char remark
11. 2026-06-04
    days on market $299,000 Active 31 DOM
12. 2026-06-03
    days on market $299,000 Active 30 DOM
13. 2026-06-02
    days on market $299,000 Active 29 DOM
14. 2026-06-01
    days on market $299,000 Active 28 DOM
15. 2026-05-31
    days on market $299,000 Active 27 DOM
16. 2026-05-04
    listed $299,000 Active
17. 2026-04-14
    historical
18. 2026-01-28
    price $299,000
19. 2026-01-21
    price $299,900
20. 2025-12-23
    price $302,000
21. 2025-09-30
    price $305,000
22. 2025-08-21
    price $307,000
23. 2025-08-14
    price $308,000
24. 2025-07-27
    price $309,000
25. 2025-06-26
    listed $310,000 Active
26. 2014-08-08
    soldstatus $135,100 Closed 173-char remark

    Show marketing remark (173 chars)

    Rehabbed 2 bedroom 2 bath villa with 1 Car garage upgraded kitchen and baths, fresh paint, carpet, and garden view. CANNOT RENT FOR 18 MONTHS. HOA PAYABLE $535 PER QUARTER.

27. 2014-07-15
    status Pending 173-char remark

    Show marketing remark (173 chars)

    Rehabbed 2 bedroom 2 bath villa with 1 Car garage upgraded kitchen and baths, fresh paint, carpet, and garden view. CANNOT RENT FOR 18 MONTHS. HOA PAYABLE $535 PER QUARTER.

28. 2014-06-20
    historical Contingent 173-char remark

    Show marketing remark (173 chars)

    Rehabbed 2 bedroom 2 bath villa with 1 Car garage upgraded kitchen and baths, fresh paint, carpet, and garden view. CANNOT RENT FOR 18 MONTHS. HOA PAYABLE $535 PER QUARTER.

29. 2014-05-31
    listed $134,900 Active 173-char remark

    Show marketing remark (173 chars)

    Rehabbed 2 bedroom 2 bath villa with 1 Car garage upgraded kitchen and baths, fresh paint, carpet, and garden view. CANNOT RENT FOR 18 MONTHS. HOA PAYABLE $535 PER QUARTER.

30. 2006-01-18
    soldstatus $245,000
31. 2005-07-22
    soldstatus $185,000
32. 2005-07-17
    soldstatus $185,000
33. 2005-06-09
    historical
34. 2005-01-06
    listed $187,900
35. 1988-06-17
    soldstatus $68,400

ⓘ 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: $842 · $70/mo
• Projected year-2 tax: $2,490 · $208/mo
• Expected delta: +$1,648/yr (+$137/mo · 195.9%)

ⓘ 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: $32,472
• − Mortgage interest: −$16,805
• − Property taxes: −$842
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,598
• − Management: −$2,598
• − HOA: −$5,100
• − Depreciation: −$8,727
• Taxable loss: −$5,697
• Est. tax savings @ 24.0%: +$1,367
• After-tax cash flow: $700/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

+337.1% since first listed

20 events — show timeline

• 2026-05-04 Listed $299,000 Beaches MLS
• 2026-04-14 Listing Removed — Beaches MLS
• 2026-01-28 Price Changed $299,000 Beaches MLS
• 2026-01-21 Price Changed $299,900 Beaches MLS
• 2025-12-23 Price Changed $302,000 Beaches MLS
• 2025-09-30 Price Changed $305,000 Beaches MLS
• 2025-08-21 Price Changed $307,000 Beaches MLS
• 2025-08-14 Price Changed $308,000 Beaches MLS
• 2025-07-27 Price Changed $309,000 Beaches MLS
• 2025-06-26 Listed $310,000 Beaches MLS
• 2014-08-08 Sold (MLS) $135,100 Beaches MLS
• 2014-07-15 Pending — Beaches MLS
• 2014-06-20 Contingent — Beaches MLS
• 2014-05-31 Listed $134,900 Beaches MLS
• 2006-01-18 Sold (Public Records) $245,000 Public Records
• 2005-07-22 Sold (Public Records) $185,000 Public Records
• 2005-07-17 Sold (MLS) $185,000 Beaches MLS
• 2005-06-09 Listing Removed — Beaches MLS
• 2005-01-06 Listed $187,900 Beaches MLS
• 1988-06-17 Sold (Public Records) $68,400 Public Records

Property tax history

-0.4%/yr

Latest (2025): $842 · +5.3% YoY. Source: county tax records.