9118 Boca Gardens Pkwy Unit F · Boca Raton, FL 33496

$549,000

3 bd · 2.5 ba · 1,788 sqft · Townhouse public records · 49 Days on market

Built 1991 1,886 sqft lot $477/mo HOA · 13% of rent

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.7/30.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +0.9/10.0

Listing remarks MLS

SPACIOUS CORNER UNIT SURROUNDED BY LAKE VIEWS - NEW A/C, MICRO AND WATER HEATER - SECURITY SYSTEM - 2 CAR GARAGE - 2 SCREENED PATIOS. WON'T LAST!!

Key facts

• $477 HOA
• 2 garage spots
• Built 1991

Property features AI

Finance

• Financial info: Pets allowed with breed restrictions
• HOA & community: Has association; Monthly HOA fee; Association amenities include basketball court, jogging path, management, parking, manager on site, sidewalks; HOA fee covers cable TV, grounds maintenance, security, and trash

Exterior

• Parking: Attached 2-car garage with garage door opener; 2 covered spaces; Guest parking
• Security: Closed circuit cameras; Smoke detectors; Gated community (no guard); Security patrol
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Water available; Sewer available
• Home design: Townhouse; Two stories; Resale condition; Faces west
• Construction: Concrete construction; Composition/shingle roof
• Exterior features: Screened porch; Porch; Corner lot; Waterfront

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Trash compactor
• Bedrooms: One main-level bedroom
• Flooring: Wood flooring
• Bathrooms: Two full bathrooms and one half bathroom; One bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; High ceilings; Kitchen island; Walk-in closet(s); Sliding windows
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $549k.

Deal economics

• At list price, monthly cash flow is $-881 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $393k (28.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $380k (30.7% below list).
• Recommended offer: $380k (30.7% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 2.8% in Boca Raton — 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 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 22d 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 $59k of equity ($4k loan paydown + $55k 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.
• By year 2, paydown + projected appreciation supports a ~$94k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($533k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y 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 $220k; list at $549k implies a 150% 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 $380,467 (30.7% 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 49 days. Have you received any prior offers? Is the seller open to a 31% 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.69% ✗
• Cap rate: 4.37%
• Cash-on-cash: -6.88%
• DSCR: 0.69
• GRM: 12.0

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: 19.2%
• Equity multiple: 2.56×
• Total profit: $240,385
• Equity at exit: $494,583

10-year hold

• IRR: 17.6%
• Equity multiple: 5.86×
• Total profit: $747,067
• Equity at exit: $1,066,586

Cash invested: $153,720 (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: 12.0×

Monthly cashflow live

• Estimated rent: $3,805 high
• Mortgage (P&I): −$2,879
• Tax from tax record: −$302 /mo · $3,622/yr
• Insurance: −$229
• HOA: −$477
• Vacancy / Maint / Mgmt: −$799
• Net cashflow: $-881

Break-even live

Break-even rent $4,920

Max offer price $393,383

Occupancy floor —

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: $137,250
• Closing costs: $16,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9190 Boca Gardens Pkwy Unit B Boca Raton, FL	3.0	2.5	1845	$3,500	$1.90	24d	1	0.09mi
9203 Boca Gardens Cir S Unit D Boca Raton, FL	3.0	2.5	2088	$3,300	$1.58	24d	1	0.11mi
9104 Affirmed Ln Boca Raton, FL	3.0	2.0	1266	$3,210	$2.54	2d	1	0.16mi
9708 Erica Ct Boca Raton, FL	2.0	2.0	1410	$4,800	$3.40	24d	1	0.36mi
9392 Affirmed Ln Boca Raton, FL	3.0	2.0	1635	$3,200	$1.96	15d	1	0.37mi
9448 Saddlebrook Dr Boca Raton, FL	3.0	2.0	1243	$3,500	$2.82	21d	1	0.42mi
9448 Saddlebrook Dr Unit 9448 Boca Raton, FL	3.0	2.0	1243	$3,500	$2.82	24d	1	0.42mi
8705 Via Giula #4 Boca Raton, FL	3.0	2.0	1477	$3,500	$2.37	24d	1	0.45mi
8705 Via Giula #4 Boca Raton, FL	3.0	2.0	1477	$3,400	$2.30	15d	1	0.45mi
18730 Stewart Cir #5 Boca Raton, FL	2.0	2.0	1227	$2,500	$2.04	24d	1	0.49mi
9585 Affirmed Ln Boca Raton, FL	4.0	2.0	1756	$3,950	$2.25	5d	1	0.55mi
9713 Boca Gardens Pkwy Unit D Boca Raton, FL	3.0	3.5	1325	$3,995	$3.02	15d	1	0.60mi
9732 Saddlebrook Dr Boca Raton, FL	4.0	2.0	1388	$3,235	$2.33	11d	1	0.66mi
8550 Via Romana #2 Boca Raton, FL	3.0	2.0	1778	$3,500	$1.97	22d	1	0.71mi
8550 Via Romana #2 Boca Raton, FL	3.0	2.0	1778	$3,500	$1.97	24d	1	0.71mi
8550 Via Romana Boca Raton, FL	3.0	2.0	1778	$3,500	$1.97	11d	1	0.71mi
9110 Fairbanks Ln #4 Boca Raton, FL	2.0	2.0	1227	$2,400	$1.96	24d	1	0.72mi
9590 Islamorada Ter Boca Raton, FL	4.0	2.5	2064	$5,000	$2.42	22d	1	0.73mi
9505 Aegean Dr Boca Raton, FL	4.0	2.5	2133	$4,200	$1.97	8d	1	0.76mi
9841 Ridgecreek Rd Boca Raton, FL	3.0	2.0	1435	$4,500	$3.14	24d	1	0.83mi
9975 Boca Gardens Trl Unit A Boca Raton, FL	3.0	2.0	1276	$3,300	$2.59	8d	1	0.84mi
8146 Windgate Dr Boca Raton, FL	2.0	2.0	1310	$5,000	$3.82	24d	1	0.85mi
9850 Ridgecreek Rd Boca Raton, FL	3.0	2.0	1364	$3,600	$2.64	24d	1	0.85mi
18428 Via Di Regina #18428 Boca Raton, FL	3.0	2.0	1544	$3,900	$2.53	24d	1	0.91mi
9636 Tavernier Dr Boca Raton, FL	3.0	2.0	1820	$4,200	$2.31	24d	1	0.92mi
9387 Richmond Cir Boca Raton, FL	3.0	2.0	1849	$4,100	$2.22	11d	1	0.95mi
9928 Moss Pond Dr Unit 9928 Boca Raton, FL	3.0	2.5	1843	$4,500	$2.44	15d	1	0.97mi
9928 Moss Pond Dr Boca Raton, FL	3.0	2.5	1843	$4,500	$2.44	24d	1	0.97mi
9928 Moss Pond Dr Boca Raton, FL	3.0	2.5	1843	$4,500	$2.44	12d	1	0.97mi
18475 Via Di Sorrento Boca Raton, FL	3.0	2.0	1544	$4,095	$2.65	8d	1	0.98mi
18434 Via Di Sorrento Boca Raton, FL	3.0	2.0	1480	$3,495	$2.36	8d	1	1.01mi
17345 Sea Blossom Way Boca Raton, FL	3.0	3.0	2240	$10,500	$4.69	18d	1	1.01mi
4278 NW 65th Rd Boca Raton, FL	3.0	2.0	1607	$16,500	$10.27	11d	1	1.18mi
18298 102nd Way S Boca Raton, FL	4.0	2.0	1853	$6,500	$3.51	24d	1	1.19mi
6540 NW 42nd Way Boca Raton, FL	3.0	3.5	2301	$2,250	$0.98	24d	1	1.24mi
9680 Lancaster Pl Boca Raton, FL	3.0	2.0	1504	$4,850	$3.22	24d	1	1.28mi
5855 NW 42nd Way Boca Raton, FL	4.0	3.5	2395	$13,900	$5.80	15d	1	1.28mi
9718 Lancaster Pl Boca Raton, FL	3.0	2.0	1773	$4,400	$2.48	24d	1	1.30mi
19323 Carolina Cir Boca Raton, FL	4.0	2.0	2300	$4,150	$1.80	13d	1	1.34mi
9940 Liberty Rd Boca Raton, FL	4.0	2.0	1674	$5,500	$3.29	24d	1	1.38mi

HOA detail

• Monthly dues: $477 · $5,724/yr
• Likely covers: watersecurity

Listing history 22 events

1. 2026-05-06
   status Pending
2. 2026-03-18
   status Active
3. 2026-02-28
   status Pending
4. 2026-02-27
   listed $549,000 Active
5. 2026-02-27
   historical
6. 2026-02-26
   historical $549,000
7. 2015-12-17
   soldstatus $220,000
8. 2009-02-15
   historical
9. 2008-02-15
   listed $269,900
10. 2004-08-09
    soldstatus $240,000
11. 2004-07-30
    soldstatus $240,000 146-char remark

    Show marketing remark (146 chars)

    SPACIOUS CORNER UNIT SURROUNDED BY LAKE VIEWS - NEW A/C, MICRO AND WATER HEATER - SECURITY SYSTEM - 2 CAR GARAGE - 2 SCREENED PATIOS. WON'T LAST!!

12. 2004-07-01
    historical 146-char remark

    Show marketing remark (146 chars)

    SPACIOUS CORNER UNIT SURROUNDED BY LAKE VIEWS - NEW A/C, MICRO AND WATER HEATER - SECURITY SYSTEM - 2 CAR GARAGE - 2 SCREENED PATIOS. WON'T LAST!!

13. 2004-05-16
    listed $250,000 146-char remark

    Show marketing remark (146 chars)

    SPACIOUS CORNER UNIT SURROUNDED BY LAKE VIEWS - NEW A/C, MICRO AND WATER HEATER - SECURITY SYSTEM - 2 CAR GARAGE - 2 SCREENED PATIOS. WON'T LAST!!

14. 2002-09-03
    soldstatus $185,000
15. 2002-08-15
    soldstatus $185,000
16. 2002-07-03
    historical
17. 2002-06-14
    listed $189,900
18. 1999-11-22
    soldstatus $135,000
19. 1999-11-12
    soldstatus $135,000
20. 1999-10-13
    historical
21. 1999-07-17
    listed $139,000
22. 1991-11-25
    soldstatus $140,000

ⓘ 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: $3,622 · $302/mo
• Projected year-2 tax: $4,557 · $380/mo
• Expected delta: +$935/yr (+$78/mo · 25.8%)

ⓘ 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 2/10 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: $45,656
• − Mortgage interest: −$30,753
• − Property taxes: −$3,622
• − Insurance: −$2,745
• − Repairs & maintenance: −$3,652
• − Management: −$3,652
• − HOA: −$5,724
• − Depreciation: −$15,971
• Taxable loss: −$20,463
• Est. tax savings @ 24.0%: +$4,911
• After-tax cash flow: $-5,660/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

+292.1% since first listed

22 events — show timeline

• 2026-05-06 Pending — Beaches MLS
• 2026-03-18 Relisted — Beaches MLS
• 2026-02-28 Pending — Beaches MLS
• 2026-02-27 Listed $549,000 Beaches MLS
• 2026-02-27 Listing Removed — Beaches MLS
• 2026-02-26 Coming Soon $549,000 Beaches MLS
• 2015-12-17 Sold (Public Records) $220,000 Public Records
• 2009-02-15 Listing Removed — Beaches MLS
• 2008-02-15 Listed $269,900 Beaches MLS
• 2004-08-09 Sold (Public Records) $240,000 Public Records
• 2004-07-30 Sold (MLS) $240,000 Beaches MLS
• 2004-07-01 Listing Removed — Beaches MLS
• 2004-05-16 Listed $250,000 Beaches MLS
• 2002-09-03 Sold (Public Records) $185,000 Public Records
• 2002-08-15 Sold (MLS) $185,000 Beaches MLS
• 2002-07-03 Listing Removed — Beaches MLS
• 2002-06-14 Listed $189,900 Beaches MLS
• 1999-11-22 Sold (Public Records) $135,000 Public Records
• 1999-11-12 Sold (MLS) $135,000 Beaches MLS
• 1999-10-13 Listing Removed — Beaches MLS
• 1999-07-17 Listed $139,000 Beaches MLS
• 1991-11-25 Sold (Public Records) $140,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $3,622 · +3.2% YoY. Source: county tax records.