620 Horizon W #202 · Boynton Beach, FL 33435

$120,000

1 bd · 1.5 ba · 718 sqft · Condo public records · 23 Days on market

Built 1966 $660/mo HOA · 34% 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 +16.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sterling Village is located near up and coming Downtown Boynton Beach. Close to shops and dining. Minutes to the beach and shopping. Great unit, fully furnished ready for its next owner. Come see this unit!

Key facts

• $660 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Senior community; Pets not allowed; Approximately 840 units in the community; Private road with asphalt surface and private maintenance
• Financial info: Not a land lease community
• HOA & community: Association with monthly fee; HOA fee: $660 monthly; HOA includes cable TV, internet, grounds and structure maintenance, pest control, security, sewer, trash, water, common areas, elevator, legal/accounting, reserve funds, roof repairs, recreation facility and pool service; Community amenities: clubhouse, car wash area, elevators, fitness center, game room, hot water, laundry, management, picnic area, parking, pool, sauna, shuffleboard, storage, manager on site, bike storage, bocce ball, community room, heated pool, hobby room, internet included, kitchen facilities, library, maintained community, pickleball courts, putting green, sidewalks, street lights, gated community, maintenance

Exterior

• Parking: 1 parking space; Asphalt parking; Guest parking
• Security: Key card entry; Security fence; Security gate; Gated (no guard)
• Utilities: Public water; Public sewer; 100 amp electric service with circuit breakers; Cable connected; Electricity available; Phone available; Sewer connected; Water connected
• Home design: Condominium; One level (entry level 2); Faces south; Resale; Central living area accessibility; Walker-accessible stairs
• Construction: Built with block, frame, cement siding and stucco; Concrete, composition and tar/gravel roof; Foundation: block, brick/mortar, permanent, slab and piling; 2 total stories
• Exterior features: Screened patio; Screened porch; Patio; Porch; Back yard fencing (fenced)

Interior

• Kitchen: Electric range; Electric cooktop; Microwave; Refrigerator
• Bedrooms: 1 main-level bedroom
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom (2 total bathrooms)
• Heating & cooling: Central electric heating; Central air conditioning with humidity control
• Interior features: Kitchen island; Walk-in closet(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $72 ($863/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.0% 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: Forest Park Elementary School (math 42% / reading 38%, grade F, #1,491 of 2,144 statewide, top 70%, 571 students, 81% 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 schools average 73% FRL vs 52% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 50% district-wide (-22 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 rising (+3.6%/yr); 538 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $830 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y 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 $55k; list at $120k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,200 (1.5% below list)

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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 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: 1.60% ✓
• Cap rate: 7.01%
• Cash-on-cash: 2.57%
• DSCR: 1.11
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.64% rent growth · sell at horizon

5-year hold

• IRR: -10.7%
• Equity multiple: 0.61×
• Total profit: $-13,217
• Equity at exit: $17,892

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $1,200
• Equity at exit: $10,375

Cash invested: $33,600 (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 33435

• Rents YoY: 3.6%
• Active inventory: 538
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,917 high
• Mortgage (P&I): −$629
• Tax from tax record: −$103 /mo · $1,235/yr
• Insurance: −$50
• HOA: −$660
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $72

Break-even live

Break-even rent $1,826

Max offer price $120,000

Occupancy floor 91%

Sensitivity live

Price	-10% $140	-5% $106	+0% $72	+5% $38	+10% $4
Rent	-10% $-79	-5% $-4	+0% $72	+5% $148	+10% $223
Rate	-1.0pp $132	-0.5pp $102	base $72	+0.5pp $41	+1.0pp $9

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
620 Horizons W #207 Boynton Beach, FL	1.0	1.0	570	$1,200	$2.11	25d	1	0.04mi
800 Horizons W #211 Boynton Beach, FL	1.0	1.0	570	$1,650	$2.89	16d	1	0.07mi
850 Horizons E #309 Boynton Beach, FL	1.0	1.5	646	$1,990	$3.08	22d	1	0.12mi
650 Horizons E #107 Boynton Beach, FL	1.0	1.0	570	$1,600	$2.81	25d	1	0.12mi
240 Horizons W #108 Boynton Beach, FL	1.0	1.5	646	$1,600	$2.48	25d	1	0.19mi
1001 S Federal Hwy Unit 3 Boynton Beach, FL	1.0	1.0	650	$1,995	$3.07	25d	1	0.21mi
640 SE 2nd Ave Unit 111 Boynton Beach, FL	1.0	1.0	650	$1,720	$2.65	4d	1	0.24mi
101 S Federal Hwy Boynton Beach, FL	1.0–2.0	1.0–2.0	906	$2,012	$2.22	0d	15	0.29mi
207 SE 4th Ave Boynton Beach, FL	1.0	1.0	650	$1,795	$2.76	3d	1	0.32mi
100 NE 6th St Boynton Beach, FL	1.0	1.0	745	$2,975	$3.99	21d	3	0.38mi
100 NE 6th St Boynton Beach, FL	1.0	1.0	745	$2,975	$3.99	13d	3	0.38mi
638 Snug Harbor Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	747	$1,600	$2.14	25d	2	0.40mi
640 Snug Harbor Dr Unit F3 Boynton Beach, FL	1.0	1.0	629	$2,500	$3.97	12d	1	0.43mi
400 N Federal Hwy Unit N304 Boynton Beach, FL	1.0	1.0	640	$2,400	$3.75	25d	1	0.54mi
115 SW 1st Ave Boynton Beach, FL	1.0–2.0	1.0–2.0	804	$1,875	$2.33	16d	2	0.57mi
518 NE 4th St Unit A Boynton Beach, FL	1.0	1.0	500	$1,700	$3.40	17d	1	0.64mi
5505 N Ocean Blvd Ocean Ridge, FL	1.0–2.0	1.0–2.0	774	$1,950	$2.52	12d	3	0.67mi
689 NE 6th Ct #4070 Boynton Beach, FL	1.0	1.0	703	$1,900	$2.70	18d	1	0.76mi
689 NE 6th Ct #404 Boynton Beach, FL	1.0	1.0	703	$2,000	$2.84	25d	1	0.76mi
615 NE 7th Ave Boynton Beach, FL	1.0	1.0	698	$1,699	$2.43	18d	1	0.81mi
6520 N Ocean Blvd Apt 3 Ocean Ridge, FL	1.0	1.0	702	$3,500	$4.99	25d	1	0.81mi
6520 N Ocean Blvd Ocean Ridge, FL	1.0–2.0	1.0	776	$2,400	$3.09	13d	1	0.81mi
515 SE 20th Ave Boynton Beach, FL	2.0	1.0	787	$1,719	$2.18	0d	5	0.81mi
405 SE 20th Ave Unit 5F Boynton Beach, FL	—	1.0	600	$1,489	$2.48	23d	1	0.83mi
22 Oceanview Dr Ocean Ridge, FL	1.0	1.0	620	$3,500	$5.65	25d	1	0.90mi
2303 S Federal Hwy #19 Boynton Beach, FL	1.0	1.0	615	$1,450	$2.36	6d	1	0.97mi
1407 Tuscany Way #1407 Boynton Beach, FL	1.0	1.0	721	$2,100	$2.91	4d	1	0.97mi
2301 SE 4th St Unit 15 Boynton Beach, FL	1.0	1.0	573	$1,545	$2.70	25d	1	0.99mi
2301 SE 4th St #11 Boynton Beach, FL	1.0	1.0	573	$1,595	$2.78	25d	1	0.99mi
717 NE 10th Ave Unit 6 Boynton Beach, FL	1.0	1.0	700	$1,600	$2.29	9d	1	0.99mi
2412 Tuscany Way Boynton Beach, FL	1.0	1.0	750	$3,000	$4.00	25d	1	0.99mi
21 Ruthmary Ave Unit G Briny Breezes, FL	1.0	1.0	396	$2,850	$7.20	25d	1	1.01mi
656 Manor Dr Unit 3 Boynton Beach, FL	—	1.0	650	$1,600	$2.46	23d	1	1.04mi
14 South Ln Unit A Boynton Beach, FL	—	1.0	430	$1,500	$3.49	0d	1	1.09mi
4603 N Ocean Blvd Unit 1018163P Boynton Beach, FL	2.0	1.0	581	$2,573	$4.43	23d	1	1.10mi
205 Coral Rd Unit 1 Boynton Beach, FL	1.0	1.0	500	$2,300	$4.60	25d	1	1.13mi
430 NW 12th Ave Unit A Boynton Beach, FL	1.0	1.0	500	$2,195	$4.39	25d	1	1.31mi
408 NW 13th Ave Unit 2 Boynton Beach, FL	1.0	1.0	400	$1,375	$3.44	25d	1	1.33mi

HOA detail condo

• Monthly dues: $660 · $7,920/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-21
   days on market $120,000 Active 23 DOM
2. 2026-06-18
   days on market $120,000 Active 20 DOM
3. 2026-06-17
   days on market $120,000 Active 19 DOM
4. 2026-06-16
   days on market $120,000 Active 18 DOM
5. 2026-06-15
   days on market $120,000 Active 17 DOM
6. 2026-06-13
   days on market $120,000 Active 15 DOM
7. 2026-06-09
   days on market $120,000 Active 11 DOM
8. 2026-06-08
   days on market $120,000 Active 10 DOM
9. 2026-06-07
   days on market $120,000 Active 9 DOM
10. 2026-06-04
    days on market $120,000 Active 6 DOM
11. 2026-06-03
    days on market $120,000 Active 5 DOM
12. 2026-06-02
    days on market $120,000 Active 4 DOM
13. 2026-06-01
    days on market $120,000 Active 3 DOM
14. 2026-05-31
    days on market $120,000 Active 2 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: $1,235 · $103/mo
• Projected year-2 tax: $1,235 · $103/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 6/10 Major FEMA zone X (shaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 28 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: $22,999
• − Mortgage interest: −$6,722
• − Property taxes: −$1,235
• − Insurance: −$600
• − Repairs & maintenance: −$1,840
• − Management: −$1,840
• − HOA: −$7,920
• − Depreciation: −$3,491
• Taxable loss: −$648
• Est. tax savings @ 24.0%: +$156
• After-tax cash flow: $1,019/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

• Census place: Boynton Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 148,060
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 37,833
• Household income: $67,979
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 1623.0

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 0.65)
• Race & ethnicity: White 41% Black 40% Hispanic / Latino 15% Two or more races 10%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Hispanic 23% Romanian 2% Lithuanian 2%
• Foreign-born: 30% · Canada, Jamaica
• Languages at home: 61% English-only · French/Haitian/Cajun 24% Spanish 11% 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: ▼ -345.86%
• Current HPI: 371.0527
• Rent YoY: ▲ 3.64%
• 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

+306.8% since first listed

19 events — show timeline

• 2026-05-28 Listed $120,000 Beaches MLS
• 2018-12-14 Sold (Public Records) $55,000 Public Records
• 2018-12-10 Sold (MLS) $55,000 Beaches MLS
• 2018-11-19 Pending — Beaches MLS
• 2018-10-10 Listed $59,900 Beaches MLS
• 2018-10-10 Listing Removed — Beaches MLS
• 2018-10-10 Listed $57,500 Beaches MLS
• 2017-12-27 Listing Removed — Beaches MLS
• 2017-11-14 Price Changed $57,900 Beaches MLS
• 2017-05-12 Price Changed $65,000 Beaches MLS
• 2016-06-30 Relisted — Beaches MLS
• 2016-06-24 Listing Removed — Beaches MLS
• 2016-06-23 Price Changed $68,900 Beaches MLS
• 2016-04-22 Listed $69,900 Beaches MLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2001-05-07 Sold (Public Records) $36,000 Public Records
• 2000-02-14 Listed $39,900 Beaches MLS
• 1991-05-16 Sold (Public Records) $33,500 Public Records
• 1988-06-23 Sold (Public Records) $29,500 Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,235 · +6.2% YoY. Source: county tax records.