58009 Bahama Bay · Boynton Beach, FL 33436

$112,900

2 bd · 2.0 ba · 880 sqft · Condo public records · 106 Days on market

Built 1978 $270/mo HOA

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

24 hour manned 55 plus gated community CASH PURCHASE ONLY HANDYMAN SPECIAL - Large Single Wide needs TLC perfect for year round living or the Winter S Florida getaway. Oversize Florida Room for additional entertaining boasting over 264 sq ft. Corner Lot with gorgeous landscaping and great curb appeal 2 pets 20 lbs ONLY Development offers many social activities, Clubhouse, 2 pools, billiards, bocce ball, shuffleboard, on-site library and so much more... 55 Plus Co-Op Community in Central Boynton Beach close to 95/turnpike/Beach many shops and great restaurants.

Key facts

• Gated security
• Boat and rv parking
• Carpeted screen room

Tags

• GATED SECURITY
• CARPETED SCREEN ROOM
• WORKING GAS GENERATOR
• INTERIOR TRANSFER SWITCH
• BOAT AND RV PARKING
• NEW PICKLE-BOARD COURTS

Property features AI

Finance

• Other: Road frontage on a county road; Lot with many trees, asphalt road surface; Not waterfront
• Financial info: Senior community; Pets allowed with possible number/size limits
• HOA & community: Community association with monthly fee; Association amenities include clubhouse, heated pool, pool, recreation facilities, bocce ball, pickleball, shuffleboard, game & community rooms, billiard room, library, playground, picnic area, dog park, maintained grounds, street lights, manager on site, parking, internet included, laundry, management and other services; Monthly association fee (listed)

Exterior

• Parking: Total 2 parking spaces; Attached carport (1 carport space), covered parking and driveway; Open parking available; Golf cart parking; Concrete surface
• Security: Gated community with guard; Closed-circuit cameras; Security lights; Smoke detectors
• Utilities: Public water; Public sewer; Electric service with 220 volts and three phase available; Cable connected, phone available, underground utilities, water & sewer available
• Home design: Manufactured home (single wide / expando); One story; Faces north; Resale condition; Owner-reported building area
• Construction: Modular construction; Aluminum roof; Slab foundation; Exterior skirting (other)
• Exterior features: Covered patio, screened patio; Patio

Interior

• Kitchen: Dishwasher; Electric range; Electric cooktop; Microwave; Refrigerator; Freezer; Electric water heater (owned)
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Vinyl; Wood
• Bathrooms: 2 full bathrooms and 1 half bathroom (3 total); 2 bathrooms on the main level
• Heating & cooling: Central heating (electric) and space heater; Central air conditioning with zoned/individual controls; Ceiling fans and paddle fans
• Interior features: Partially furnished; No additional built-in interior features listed; Blinds and single-hung & sliding windows
• Laundry & utility: Washer hookup on main level; Electric dryer hookup

🏢 Co-op / cooperative unit. The $112,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $113k.

Deal economics

• At list price, monthly cash flow is $695 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $113k).
• Recommended offer: $103k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.7% 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; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $781 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 + 0.0% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $12k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $83k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $102,739 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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. 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?
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: 1.87% ✓
• Cap rate: 13.68%
• Cash-on-cash: 26.37%
• DSCR: 2.17
• GRM: 4.5

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: 16.3%
• Equity multiple: 1.63×
• Total profit: $19,918
• Equity at exit: $16,834

10-year hold

• IRR: 22.3%
• Equity multiple: 2.61×
• Total profit: $51,024
• Equity at exit: $9,762

Cash invested: $31,612 (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: 4.5×

Monthly cashflow live

• Estimated rent: $2,111 high
• Mortgage (P&I): −$592
• Tax from tax record: −$64 /mo · $765/yr
• Insurance: −$47
• HOA: −$270
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $695

Break-even live

Break-even rent $1,231

Max offer price $112,900

Occupancy floor 62%

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: $28,225
• Closing costs: $3,387
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4482 King Theodore Dr Boynton Beach, FL	1.0	1.0	800	$1,795	$2.24	24d	1	0.51mi
8949 Oak St Boynton Beach, FL	2.0	2.0	1040	$1,300	$1.25	24d	1	0.77mi
9900 Pineapple Tree Dr #106 Boynton Beach, FL	2.0	2.0	1008	$2,250	$2.23	24d	1	1.10mi
9935 Pineapple Tree Dr #202 Boynton Beach, FL	2.0	2.0	1008	$2,575	$2.55	15d	1	1.12mi
3930 Max Pl Boynton Beach, FL	1.0	1.0	925	$2,550	$2.76	22d	1	1.28mi
3500 Sandpiper Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	1147	$2,579	$2.25	22d	22	1.36mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,375	$2.33	1d	19	1.41mi

HOA detail condo

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

Listing history 19 events

1. 2026-06-18
   days on market $112,900 Active 106 DOM
2. 2026-06-17
   days on market $112,900 Active 105 DOM
3. 2026-06-16
   days on market $112,900 Active 104 DOM
4. 2026-06-15
   days on market $112,900 Active 103 DOM
5. 2026-06-13
   days on market $112,900 Active 101 DOM
6. 2026-06-09
   days on market $112,900 Active 97 DOM
7. 2026-06-08
   days on market $112,900 Active 96 DOM
8. 2026-06-07
   days on market $112,900 Active 95 DOM
9. 2026-06-04
   days on market $112,900 Active 92 DOM
10. 2026-06-03
    days on market $112,900 Active 91 DOM
11. 2026-06-02
    days on market $112,900 Active 90 DOM
12. 2026-06-01
    days on market $112,900 Active 89 DOM
13. 2026-05-31
    days on market $112,900 Active 88 DOM
14. 2026-04-30
    price $112,900
15. 2026-03-04
    listed $124,900 Active
16. 2023-03-15
    soldstatus $83,000 Closed 572-char remark

    Show marketing remark (572 chars)

    24 hour manned 55 plus gated community CASH PURCHASE ONLY HANDYMAN SPECIAL - Large Single Wide needs TLC perfect for year round living or the Winter S Florida getaway. Oversize Florida Room for additional entertaining boasting over 264 sq ft. Corner Lot with gorgeous landscaping and great curb appeal 2 pets 20 lbs ONLY Development offers many social activities, Clubhouse, 2 pools, billiards, bocce ball, shuffleboard, on-site library and so much more... 55 Plus Co-Op Community in Central Boynton Beach close to 95/turnpike/Beach many shops and great restaurants.

17. 2023-02-21
    historical Active Under Contract 572-char remark

    Show marketing remark (572 chars)

    24 hour manned 55 plus gated community CASH PURCHASE ONLY HANDYMAN SPECIAL - Large Single Wide needs TLC perfect for year round living or the Winter S Florida getaway. Oversize Florida Room for additional entertaining boasting over 264 sq ft. Corner Lot with gorgeous landscaping and great curb appeal 2 pets 20 lbs ONLY Development offers many social activities, Clubhouse, 2 pools, billiards, bocce ball, shuffleboard, on-site library and so much more... 55 Plus Co-Op Community in Central Boynton Beach close to 95/turnpike/Beach many shops and great restaurants.

18. 2023-02-08
    price $89,900 572-char remark

    Show marketing remark (572 chars)

    24 hour manned 55 plus gated community CASH PURCHASE ONLY HANDYMAN SPECIAL - Large Single Wide needs TLC perfect for year round living or the Winter S Florida getaway. Oversize Florida Room for additional entertaining boasting over 264 sq ft. Corner Lot with gorgeous landscaping and great curb appeal 2 pets 20 lbs ONLY Development offers many social activities, Clubhouse, 2 pools, billiards, bocce ball, shuffleboard, on-site library and so much more... 55 Plus Co-Op Community in Central Boynton Beach close to 95/turnpike/Beach many shops and great restaurants.

19. 2023-01-13
    listed $99,900 Active 572-char remark

    Show marketing remark (572 chars)

    24 hour manned 55 plus gated community CASH PURCHASE ONLY HANDYMAN SPECIAL - Large Single Wide needs TLC perfect for year round living or the Winter S Florida getaway. Oversize Florida Room for additional entertaining boasting over 264 sq ft. Corner Lot with gorgeous landscaping and great curb appeal 2 pets 20 lbs ONLY Development offers many social activities, Clubhouse, 2 pools, billiards, bocce ball, shuffleboard, on-site library and so much more... 55 Plus Co-Op Community in Central Boynton Beach close to 95/turnpike/Beach many shops and great restaurants.

ⓘ 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: $765 · $64/mo
• Projected year-2 tax: $937 · $78/mo
• Expected delta: +$172/yr (+$14/mo · 22.5%)

ⓘ 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 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: $25,331
• − Mortgage interest: −$6,324
• − Property taxes: −$765
• − Insurance: −$564
• − Repairs & maintenance: −$2,026
• − Management: −$2,026
• − HOA: −$3,240
• − Depreciation: −$3,284
• Taxable income: $7,100
• Est. tax owed @ 24.0%: −$1,704
• After-tax cash flow: $6,633/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

+13.0% since first listed

6 events — show timeline

• 2026-04-30 Price Changed $112,900 Beaches MLS
• 2026-03-04 Listed $124,900 Beaches MLS
• 2023-03-15 Sold (MLS) $83,000 Beaches MLS
• 2023-02-21 Contingent — Beaches MLS
• 2023-02-08 Price Changed $89,900 Beaches MLS
• 2023-01-13 Listed $99,900 Beaches MLS

Property tax history

+2.7%/yr

Latest (2025): $765 · +3.6% YoY. Source: county tax records.