3240 Ridge Hill Rd Unit C · Boynton Beach, FL 33435

$112,500

1 bd · 1.5 ba · 1,002 sqft · Condo public records · 303 Days on market

Built 1978 $502/mo HOA · 25% of rent

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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 +29.7/30.0
• 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
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

BUY NOW! Bright and light 1 Bed/1.5 bath villa in a desirable 55+ community with a large Florida Room/Den. Spacious master suite with two walk-in closets. This beautifully updated condo offers comfort, style, and peace of mind with newly installed partial storm-proof compact glass windows that provide both safety and energy efficiency. The home has been freshly painted throughout, creating a clean and modern canvas ready for your personal touch. The dining room is bright and spacious, filled with natural light—perfect for gatherings, entertaining, or enjoying a quiet meal. An added highlight of this unit is the inviting Florida room, which extends your living space and can be used as

Key facts

• Clubhouse
• Great location
• Florida room

Tags

• FLORIDA ROOM
• CLUBHOUSE
• POOL
• DESIRABLE COMMUNITY
• GREAT LOCATION

Property features AI

Finance

• Other: Senior community; Pets not allowed
• HOA & community: Community has clubhouse and pool; HOA fee paid monthly; HOA includes cable TV, grounds maintenance, sewer and water

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer; Three-phase electric; Sewer available; Water available
• Home design: Condominium; One-story building; Multi/split levels; Faces west; Resale property
• Construction: CBS construction
• Exterior features: Patio; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range
• Bedrooms: 1 bedroom on main level
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet(s); Unfurnished

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $112k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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.
• Market conditions: Rents rising (+3.6%/yr); 536 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); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 36% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $778 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 + 3.6% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 303 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 27y ago; this cycle's ask is 8554% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $14k; list at $112k implies a 731% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% 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 $99,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 303 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.79% ✓
• Cap rate: 10.66%
• Cash-on-cash: 15.61%
• DSCR: 1.69
• GRM: 4.7

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: 7.6%
• Equity multiple: 1.30×
• Total profit: $9,443
• Equity at exit: $16,774

10-year hold

• IRR: 17.7%
• Equity multiple: 2.54×
• Total profit: $48,371
• Equity at exit: $9,727

Cash invested: $31,500 (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: 536
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,013 high
• Mortgage (P&I): −$590
• Tax from tax record: −$42 /mo · $502/yr
• Insurance: −$47
• HOA: −$502
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $410

Break-even live

Break-even rent $1,495

Max offer price $112,500

Occupancy floor 75%

Sensitivity live

Price	-10% $473	-5% $441	+0% $410	+5% $378	+10% $346
Rent	-10% $251	-5% $330	+0% $410	+5% $489	+10% $569
Rate	-1.0pp $466	-0.5pp $438	base $410	+0.5pp $380	+1.0pp $351

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: $28,125
• Closing costs: $3,375
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Country Ln Boynton Beach, FL	1.0	1.0	1012	$1,800	$1.78	24d	1	0.10mi
1236 Peak Rd Lantana, FL	2.0	1.0	1170	$2,150	$1.84	24d	1	0.39mi
1097 Wilkinson Rd Unit B Lantana, FL	2.0	1.0	855	$2,200	$2.57	2d	1	0.50mi
1097 Wilkinson Rd Unit B Lantana, FL	2.0	1.0	855	$2,200	$2.57	2d	1	0.50mi
3617 High Ridge Rd Unit 206 Boynton Beach, FL	1.0	1.0	833	$1,950	$2.34	4d	1	0.51mi
3609 High Ridge Rd Boynton Beach, FL	2.0	2.0	1138	$2,400	$2.11	17d	1	0.54mi
3605 High Ridge Rd Unit 204 Boynton Beach, FL	1.0	1.0	833	$1,900	$2.28	18d	1	0.60mi
3601 High Ridge Rd Unit 206 Boynton Beach, FL	1.0	1.0	833	$1,950	$2.34	15d	1	0.61mi
130 NE 26th Ave #307 Boynton Beach, FL	2.0	2.0	982	$3,500	$3.56	24d	1	0.66mi
230 NE 26th Ave Boynton Beach, FL	1.0–2.0	1.5–2.0	857	$1,600	$1.87	18d	2	0.67mi
230 NE 26th Ave #1070 Boynton Beach, FL	1.0	1.5	754	$1,620	$2.15	11d	1	0.67mi
661 Waterside Dr Hypoluxo, FL	2.0	2.0	768	$2,000	$2.60	24d	1	0.71mi
300 NE 26th Ave #1040 Boynton Beach, FL	2.0	2.0	1080	$1,559	$1.44	24d	1	0.71mi
2600 NE 1st Ln #418 Boynton Beach, FL	2.0	2.0	1182	$1,750	$1.48	24d	1	0.71mi
8076 Ambach Way Hypoluxo, FL	2.0	2.0	1243	$2,200	$1.77	24d	1	0.73mi
2615 NE 1st Ct Boynton Beach, FL	2.0	2.0	960	$1,850	$1.93	19d	2	0.73mi
2615 NE 1st Ct #403 Boynton Beach, FL	2.0	2.0	960	$2,100	$2.19	24d	1	0.73mi
330 NE 26th Ave Unit 108 Boynton Beach, FL	1.0	1.5	754	$1,600	$2.12	2d	1	0.75mi
330 NE 26th Ave Unit 108 Boynton Beach, FL	1.0	1.5	754	$1,375	$1.82	24d	1	0.75mi
2400 NE 1st Ln #206 Boynton Beach, FL	1.0	1.5	754	$1,800	$2.39	15d	1	0.79mi
2515 NE 2nd Ct #202 Boynton Beach, FL	2.0	2.0	960	$1,499	$1.56	24d	1	0.80mi
2615 NE 3rd Ct #4030 Boynton Beach, FL	2.0	2.0	960	$1,699	$1.77	5d	1	0.82mi
2601 3rd Ct NE #202 Boynton Beach, FL	2.0	2.0	982	$1,500	$1.53	19d	1	0.84mi
117 Waterside Dr #117 Hypoluxo, FL	2.0	2.0	768	$2,000	$2.60	24d	1	0.84mi
368 Waterside Dr Hypoluxo, FL	2.0	2.5	1152	$2,500	$2.17	24d	1	0.84mi
369 Waterside Dr Hypoluxo, FL	2.0	2.5	1128	$2,250	$1.99	24d	1	0.84mi
314 Waterside Dr Hypoluxo, FL	2.0	2.5	1128	$1,850	$1.64	24d	1	0.84mi
4 Crossings Cir Unit B Boynton Beach, FL	2.0	1.5	864	$1,950	$2.26	24d	1	0.91mi
103 Yacht Club Way Hypoluxo, FL	2.0	1.0	922	$2,175	$2.36	8d	2	0.94mi
111 Yacht Club Way Hypoluxo, FL	2.0	2.0	1036	$2,275	$2.20	3d	2	0.94mi
1400 S Broadway Lantana, FL	2.0	1.0	846	$1,850	$2.19	24d	1	0.94mi
117 Yacht Club Way #110 Hypoluxo, FL	2.0	2.5	1030	$2,295	$2.23	3d	1	0.95mi
7 Crossings Cir Boynton Beach, FL	2.0	1.5	864	$2,500	$2.89	24d	1	0.96mi
1000 Scotia Dr #605 Hypoluxo, FL	2.0	1.0	901	$2,190	$2.43	8d	1	0.96mi
14 Crossings Cir Unit E Boynton Beach, FL	2.0	2.0	953	$2,300	$2.41	24d	1	1.01mi
123 Yacht Club Way #206 Hypoluxo, FL	2.0	1.0	922	$2,250	$2.44	24d	1	1.01mi
127 Yacht Club Way #109 Hypoluxo, FL	2.0	2.5	1030	$2,500	$2.43	24d	1	1.01mi
17 Crossings Cir Unit E Boynton Beach, FL	2.0	2.0	864	$1,900	$2.20	24d	1	1.02mi
120 Yacht Club Way #305 Hypoluxo, FL	2.0	2.0	1105	$2,350	$2.13	24d	1	1.03mi
135 Yacht Club Way #204 Hypoluxo, FL	2.0	1.0	922	$2,600	$2.82	2d	1	1.04mi

HOA detail condo

• Monthly dues: $502 · $6,024/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 42 events

1. 2026-06-18
   days on market $112,500 Active 303 DOM
2. 2026-06-17
   days on market $112,500 Active 302 DOM
3. 2026-06-16
   days on market $112,500 Active 301 DOM
4. 2026-06-15
   days on market $112,500 Active 300 DOM
5. 2026-06-13
   days on market $112,500 Active 298 DOM
6. 2026-06-09
   days on market $112,500 Active 294 DOM
7. 2026-06-07
   days on market $112,500 Active 292 DOM
8. 2026-06-04
   days on market $112,500 Active 289 DOM
9. 2026-06-03
   days on market $112,500 Active 288 DOM
10. 2026-06-01
    days on market $112,500 Active 286 DOM
11. 2026-05-31
    days on market $112,500 Active 285 DOM
12. 2026-05-14
    price $1,295
13. 2026-05-13
    price $112,500
14. 2026-04-02
    listed $1,300
15. 2026-04-01
    price $113,500
16. 2026-03-31
    historical $1,500
17. 2026-01-27
    listed $1,500
18. 2026-01-26
    price $115,000
19. 2026-01-26
    status Active
20. 2026-01-22
    historical
21. 2025-11-21
    price $125,000
22. 2025-09-25
    price $127,000
23. 2025-08-15
    listed $129,000 Active
24. 2013-09-22
    historical
25. 2013-09-22
    historical
26. 2013-02-20
    soldstatus $13,540
27. 2013-02-05
    historical
28. 2012-11-09
    listed $11,540
29. 2005-06-23
    soldstatus $85,000
30. 2003-10-16
    historical
31. 2003-03-21
    soldstatus $46,000
32. 2003-02-16
    listed $40,000
33. 2003-01-24
    historical
34. 2003-01-09
    listed $48,000
35. 2002-12-02
    historical
36. 2002-09-13
    listed $46,900
37. 2002-01-21
    listed $53,000
38. 1999-11-10
    listed $24,000
39. 1999-11-10
    historical
40. 1999-08-15
    listed $27,300
41. 1998-05-18
    soldstatus $10,000
42. 1998-05-18
    soldstatus $10,000

ⓘ 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: $502 · $42/mo
• Projected year-2 tax: $934 · $78/mo
• Expected delta: +$431/yr (+$36/mo · 85.8%)

ⓘ 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 10/10 Extreme 7 d/yr ≥105°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 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,157
• − Mortgage interest: −$6,302
• − Property taxes: −$502
• − Insurance: −$562
• − Repairs & maintenance: −$1,933
• − Management: −$1,933
• − HOA: −$6,024
• − Depreciation: −$3,273
• Taxable income: $3,629
• Est. tax owed @ 24.0%: −$871
• After-tax cash flow: $4,045/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

-87.1% since first listed

31 events — show timeline

• 2026-05-14 Price Changed $1,295 RMLSFL
• 2026-05-13 Price Changed $112,500 Beaches MLS
• 2026-04-02 Listed for Rent $1,300 RMLSFL
• 2026-04-01 Price Changed $113,500 Beaches MLS
• 2026-03-31 Rental Removed $1,500 RMLSFL
• 2026-01-27 Listed for Rent $1,500 RMLSFL
• 2026-01-26 Price Changed $115,000 Beaches MLS
• 2026-01-26 Relisted — Beaches MLS
• 2026-01-22 Listing Removed — Beaches MLS
• 2025-11-21 Price Changed $125,000 Beaches MLS
• 2025-09-25 Price Changed $127,000 Beaches MLS
• 2025-08-15 Listed $129,000 Beaches MLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2013-02-20 Sold (MLS) $13,540 Beaches MLS
• 2013-02-05 Listing Removed — Beaches MLS
• 2012-11-09 Listed $11,540 Beaches MLS
• 2005-06-23 Sold (Public Records) $85,000 Public Records
• 2003-10-16 Listing Removed — Beaches MLS
• 2003-03-21 Sold (MLS) $46,000 Beaches MLS
• 2003-02-16 Listed $40,000 Beaches MLS
• 2003-01-24 Listing Removed — Beaches MLS
• 2003-01-09 Listed $48,000 Beaches MLS
• 2002-12-02 Listing Removed — Beaches MLS
• 2002-09-13 Listed $46,900 Beaches MLS
• 2002-01-21 Listed $53,000 Beaches MLS
• 1999-11-10 Listing Removed — Beaches MLS
• 1999-11-10 Listed $24,000 Beaches MLS
• 1999-08-15 Listed $27,300 Beaches MLS
• 1998-05-18 Sold (Public Records) $10,000 Public Records
• 1998-05-18 Sold (Public Records) $10,000 Public Records

Property tax history

-3.4%/yr

Latest (2025): $502 · +5.8% YoY. Source: county tax records.