10415 S Circle Lake Dr #201 · Golf, FL 33437

$220,000

3 bd · 2.0 ba · 1,648 sqft · Condo public records · 81 Days on market

Built 1989 $933/mo HOA · 28% 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 +21.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• Appreciation +4.9/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0

Listing remarks

Enjoy a relaxing evening on your expansive balcony, whether with loved ones, friends, or simply your favorite beverage or book, as you take in the beautiful lake view at sunset. This bright and cheerful second-floor corner unit has the living room, dining room and kitchen bathed in natural light throughout the day, creating a warm and inviting atmosphere. Featuring vaulted ceilings and an oversized balcony with hurricane impact sliding doors for comfort and peace of mind. Inside, you will find three spacious bedrooms and two full baths, plus an open-concept living and dining area that flows into an eat-in kitchen, perfect for hosting gatherings or enjoying daily meals. Simply bring your sui

Key facts

• Expansive balcony
• Oversized balcony
• Lake view

Tags

• EXPANSIVE BALCONY
• LAKE VIEW
• VAULTED CEILINGS
• OVERSIZED BALCONY
• HURRICANE IMPACT SLIDING DOORS
• OPEN-CONCEPT LIVING

Property features AI

Finance

• Other: Senior community; Pets allowed with possible restrictions (number and size limits may apply)
• Financial info: Not a land lease community
• HOA & community: Active association with on-site management; Monthly HOA fee (paid monthly); HOA covers cable TV, insurance, grounds maintenance, pest control, trash, water and recreation facilities; Community amenities include pool, spa/hot tub, fitness center, clubhouse, billiard room, library, community room, tennis and pickleball courts, sidewalks and street lights

Exterior

• Parking: Assigned and guest parking; Detached carport (1 covered carport space)
• Security: Gated community (no guard)
• Utilities: Public water; Public sewer; Three-phase electric service; Cable available
• Home design: Condominium; One level; Faces east; Resale unit; Building name: Bldg 129
• Construction: Stucco and CBS construction; Two-story building (unit on main level); Built with public-records listed living area
• Exterior features: Waterfront; Barrel roof

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning (electric)
• Interior features: Cathedral and vaulted ceilings; Walk-in closets; Split bedroom layout; Storm, casement and sliding windows; Furnished
• Laundry & utility: Laundry closet with washer hookup located inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $220k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $207k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#703 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute 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.
• Market conditions: Rents rising (+1.3%/yr); 479 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $3,373/mo this rent would consume 50% of the median local household income ($81k/yr) (locally 902% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $989 of equity ($2k loan paydown + $-532 appreciation (-0.2% local appreciation)).
• 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 81 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $104k; list at $220k implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 28% 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 $206,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.53% ✓
• Cap rate: 8.14%
• Cash-on-cash: 6.59%
• DSCR: 1.29
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.24% appreciation · 1.28% rent growth · sell at horizon

5-year hold

• IRR: 2.6%
• Equity multiple: 1.12×
• Total profit: $7,417
• Equity at exit: $61,235

10-year hold

• IRR: 6.5%
• Equity multiple: 1.65×
• Total profit: $39,740
• Equity at exit: $71,528

Cash invested: $61,600 (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 33437

• Home prices YoY: -0.1%
• Rents YoY: 1.3%
• Active inventory: 479
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $3,373 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$148 /mo · $1,774/yr
• Insurance: −$92
• HOA: −$933
• Vacancy / Maint / Mgmt: −$708
• Net cashflow: $338

Break-even live

Break-even rent $2,945

Max offer price $220,000

Occupancy floor 85%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6037 Rossmoor Lakes Ct Boynton Beach, FL	3.0	2.0	1617	$4,700	$2.91	24d	1	0.22mi
10596 Sunset Isles Ct Boynton Beach, FL	3.0	2.0	1769	$4,500	$2.54	24d	1	0.25mi
5895 Autumn Lake Ln Unit A Boynton Beach, FL	3.0	2.0	1469	$2,600	$1.77	24d	1	0.31mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$3,000	$2.39	24d	1	0.40mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$2,950	$2.35	2d	1	0.40mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,839	$2.79	2d	19	0.42mi
10187 Mangrove Dr #104 Boynton Beach, FL	2.0	2.0	1260	$2,350	$1.87	24d	1	0.47mi
10624 Tropic Palm Ave #202 Boynton Beach, FL	3.0	2.0	1385	$2,550	$1.84	24d	1	0.49mi
10390 Utopia Cir E Unit 10390 Boynton Beach, FL	3.0	2.0	1845	$4,200	$2.28	24d	1	0.49mi
10390 Utopia Cir E Unit E Boynton Beach, FL	3.0	2.0	1845	$4,200	$2.28	3d	1	0.49mi
10592 Tropic Palm Ave #202 Boynton Beach, FL	2.0	2.0	1385	$2,450	$1.77	24d	1	0.49mi
10921 Royal Caribbean Cir Boynton Beach, FL	3.0	2.0	1762	$3,800	$2.16	4d	1	0.51mi
10921 Royal Caribbean Cir Boynton Beach, FL	3.0	2.0	1782	$3,800	$2.13	24d	1	0.51mi
5916 Seashell Ter Boynton Beach, FL	3.0	2.0	1882	$2,900	$1.54	15d	1	0.54mi
6396 Park Lake Cir Boynton Beach, FL	3.0	2.5	1422	$2,950	$2.07	15d	1	0.58mi
9926 Watermill Cir Unit F Boynton Beach, FL	3.0	2.0	1471	$2,400	$1.63	24d	1	0.60mi
5217 Cedar Lake Rd Boynton Beach, FL	1.0–3.0	1.0–2.0	1030	$2,811	$2.73	2d	51	0.65mi
10839 Madison Dr Boynton Beach, FL	4.0	2.0	2079	$3,800	$1.83	1d	1	0.69mi
10839 Madison Dr Boynton Beach, FL	4.0	2.0	2079	$3,800	$1.83	11d	1	0.69mi
5418 Firenze Dr Unit P Boynton Beach, FL	2.0	2.0	1139	$2,400	$2.11	3d	1	0.77mi
11230 Green Lake Dr #204 Boynton Beach, FL	3.0	2.0	1549	$3,000	$1.94	12d	1	0.79mi
11234 Green Lake Dr #102 Boynton Beach, FL	2.0	2.0	1196	$2,200	$1.84	24d	1	0.79mi
11115 Oakdale Rd Boynton Beach, FL	3.0	2.0	1713	$4,200	$2.45	24d	1	0.79mi
9654 Sun Pointe Dr Boynton Beach, FL	4.0	2.0	2142	$4,400	$2.05	24d	1	0.80mi
6165 Country Fair Cir Boynton Beach, FL	3.0	2.5	1656	$3,200	$1.93	24d	1	0.82mi
11282 Green Lake Dr #204 Boynton Beach, FL	2.0	2.0	1196	$3,750	$3.14	24d	1	0.84mi
5275 Europa Dr Unit I Boynton Beach, FL	3.0	2.0	1282	$2,500	$1.95	2d	1	0.85mi
6446 Aspen Glen Cir Unit 6446 Boynton Beach, FL	3.0	2.0	1800	$4,000	$2.22	24d	1	0.86mi
6446 Aspen Glen Cir Boynton Beach, FL	3.0	2.0	1800	$3,800	$2.11	21d	1	0.86mi
11177 Aspen Glen Dr Boynton Beach, FL	3.0	2.0	1884	$3,000	$1.59	24d	1	0.86mi
5133 Brisata Cir Unit P Boynton Beach, FL	3.0	2.0	1374	$2,800	$2.04	24d	1	0.86mi
10206 Stonehenge Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1054	$2,825	$2.68	2d	13	0.88mi
4944 Equestrian Cir Unit A Boynton Beach, FL	2.0	2.0	1400	$2,500	$1.79	8d	1	0.89mi
6039 Sunberry Cir Boynton Beach, FL	4.0	2.0	2149	$3,650	$1.70	5d	1	0.91mi
5157 Floria Way Unit J Boynton Beach, FL	3.0	2.0	1447	$3,300	$2.28	24d	1	0.95mi
9629 El Clair Ranch Rd Boynton Beach, FL	4.0	2.0	2231	$4,800	$2.15	24d	1	0.96mi
5299 Europa Dr Unit P Boynton Beach, FL	3.0	2.0	1606	$3,000	$1.87	14d	1	0.96mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	21d	1	0.96mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	8d	1	0.96mi
5234 Europa Dr Unit A Boynton Beach, FL	3.0	2.0	1578	$2,500	$1.58	20d	1	0.97mi

HOA detail condo

• Monthly dues: $933 · $11,196/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-05-16
   status Pending
2. 2026-04-23
   price $220,000
3. 2026-04-06
   price $230,888
4. 2026-03-26
   price $250,000
5. 2026-02-24
   listed $260,000 Active
6. 1989-06-01
   soldstatus $104,000

ⓘ 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: $1,774 · $148/mo
• Projected year-2 tax: $1,826 · $152/mo
• Expected delta: +$52/yr (+$4/mo · 2.9%)

ⓘ 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 ≥106°F today · 27 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: $40,471
• − Mortgage interest: −$12,323
• − Property taxes: −$1,774
• − Insurance: −$1,100
• − Repairs & maintenance: −$3,238
• − Management: −$3,238
• − HOA: −$11,196
• − Depreciation: −$6,400
• Taxable income: $1,202
• Est. tax owed @ 24.0%: −$288
• After-tax cash flow: $3,769/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 — Golf

• Score: 63/100
• State rank: #703
• US rank: #14941

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing A+ Health & safety F 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): 37,229
• Household income: $80,710
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 902.0

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 (68%)
• Race & ethnicity: White 68% Two or more races 13% Hispanic / Latino 12% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1% Dominican 1%
• Common ancestry: Scotch-Irish 8% Romanian 8% Hispanic 6%
• Foreign-born: 18% · Canada, Jamaica, Vietnam
• Languages at home: 78% English-only · Spanish 10% French/Haitian/Cajun 6% 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: ▼ -0.24%
• Current HPI: 257.5891
• Rent YoY: ▲ 1.28%
• 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

+111.5% since first listed

6 events — show timeline

• 2026-05-16 Pending — Beaches MLS
• 2026-04-23 Price Changed $220,000 Beaches MLS
• 2026-04-06 Price Changed $230,888 Beaches MLS
• 2026-03-26 Price Changed $250,000 Beaches MLS
• 2026-02-24 Listed $260,000 Beaches MLS
• 1989-06-01 Sold (Public Records) $104,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $1,774 · +3.7% YoY. Source: county tax records.