1401 S Ocean Blvd #1060 · Boca Raton, FL 33432

$479,000

2 bd · 2.5 ba · 1,864 sqft · Condo public records · 4 Days on market

Built 1982 $1794/mo HOA · 31% 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).

• Cash flow +9.6/30.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This beautiful 2-bed, 2.5-bath residence is located in of Boca Raton's most desirable ocean area buildings with deeded beach access. This first floor unit features a covered patio with lush landscaping & an open patio area as well, a rare feature in most condominiums. This light & bright unit includes a kitchen with stainless steel appliances, wood cabinetry, granite counters & granite backsplash. Gorgeous marble flooring fills the common areas, while plush carpeting is in the bedroom suites. The oversized primary suite includes tropical garden views, ensuite bath & walk-in closet w/ custom built-ins. The laundry room includes a full-size washer/dryer, laundry tub an

Key facts

• Marble flooring
• Deeded beach access
• Open patio area

Tags

• DEEDED BEACH ACCESS
• COVERED PATIO
• OPEN PATIO AREA
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERS
• MARBLE FLOORING

Property features AI

Finance

• HOA & community: Mayfair of Boca Raton association; Monthly HOA fee (monthly) includes maintenance of grounds, pest control, security, trash, common areas, elevator, and pool service; Community amenities: elevator, game room, parking, pool, spa/hot tub, storage, tennis courts, trash chute, bike storage, community room, lobby, maintained community, sidewalks, street lights, security; 55 units in the community; Pets not allowed

Exterior

• Parking: Assigned covered parking; Attached 1-car garage
• Security: Fire sprinkler system; Smoke detectors; Community security (as part of association)
• Utilities: Public water; Public sewer; Cable available; Electricity available
• Home design: Condominium; One level; Resale; Faces east; Building name: Mayfair; 5-story building
• Construction: CBS construction; Concrete roof; Building area about 1,864 (per public records)
• Exterior features: Covered patio; Open patio; Patio; Sidewalks; Landscaped grounds; Deeded beach access; Publicly maintained road frontage (east of US-1)

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms and 1 half bathroom (3 total); 2 bathrooms on the main level
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Walk-in closets; Sliding windows
• Laundry & utility: Inside laundry room with sink; In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $479k.

Deal economics

• At list price, monthly cash flow is $-323 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $422k (11.9% below list).
• Meets the 1% rule at list price ($6k rent vs $479k).
• Recommended offer: $422k (11.9% below list) — sets the bar for cash-flow.
• Cap rate 5.5% vs local median 2.7% 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: Boca Raton Elementary School (math 47% / reading 52%, grade D, #1,088 of 2,144 statewide, top 53%, 365 students, 62% FRL); Boca Raton Community Middle School (math 59% / reading 61%, grade B, #135 of 571 statewide, top 24%, 1,225 students, 41% FRL); West Boca Raton High School (math 55% / reading 70%, grade B-, #93 of 667 statewide, top 14%, 2,271 students, 28% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 475 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); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $5,732/mo this rent would consume 64% of the median local household income ($107k/yr) (locally 1461% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $223k; list at $479k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• 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 $421,882 (11.9% 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. 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. 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 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: 1.20% ✓
• Cap rate: 5.48%
• Cash-on-cash: -2.89%
• DSCR: 0.87
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.56% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.34×
• Total profit: $-88,042
• Equity at exit: $71,420

10-year hold

• IRR: -6.3%
• Equity multiple: 0.55×
• Total profit: $-60,281
• Equity at exit: $41,415

Cash invested: $134,120 (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 33432

• Rents YoY: 4.6%
• Active inventory: 475
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $5,732 high
• Mortgage (P&I): −$2,512
• Tax from tax record: −$346 /mo · $4,151/yr
• Insurance: −$200
• HOA: −$1,794
• Vacancy / Maint / Mgmt: −$1,204
• Net cashflow: $-323

Break-even live

Break-even rent $6,141

Max offer price $421,882

Occupancy floor —

Sensitivity live

Price	-10% $-52	-5% $-188	+0% $-323	+5% $-459	+10% $-594
Rent	-10% $-776	-5% $-550	+0% $-323	+5% $-97	+10% $129
Rate	-1.0pp $-82	-0.5pp $-202	base $-323	+0.5pp $-447	+1.0pp $-574

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: $119,750
• Closing costs: $14,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1500 S Ocean Blvd #704 Boca Raton, FL	2.0	2.5	2156	$12,500	$5.80	6d	1	0.11mi
1350 Spanish River Rd Boca Raton, FL	3.0	3.5	2405	$7,000	$2.91	21d	1	0.19mi
1200 S Ocean Blvd Unit 17C Boca Raton, FL	2.0	2.0	1230	$4,500	$3.66	26d	1	0.20mi
1180 S Ocean Blvd #55 Boca Raton, FL	2.0	2.0	1300	$4,000	$3.08	19d	1	0.24mi
950 De Soto Rd Unit 2B Boca Raton, FL	3.0	2.0	2307	$8,500	$3.68	12d	1	0.25mi
2679 S Ocean Blvd #31 Boca Raton, FL	3.0	3.0	2290	$6,300	$2.75	19d	1	0.33mi
1111 S Ocean Blvd Boca Raton, FL	2.0–3.0	2.0–2.5	1313	$2,500	$1.90	26d	3	0.36mi
1111 S Ocean Blvd Boca Raton, FL	2.0–3.0	2.0–2.5	1352	$2,995	$2.22	17d	2	0.36mi
2700 Spanish River Rd Boca Raton, FL	3.0	3.0	2134	$7,200	$3.37	26d	1	0.41mi
2851 S Ocean Blvd #122 Boca Raton, FL	2.0	2.0	1356	$3,000	$2.21	24d	1	0.46mi
2851 S Ocean Blvd Boca Raton, FL	1.0–2.0	1.0–2.0	1260	$5,500	$4.37	0d	4	0.47mi
800 E Camino Real #408 Boca Raton, FL	2.0	2.0	1400	$4,000	$2.86	26d	1	0.55mi
3000 S Ocean Blvd Boca Raton, FL	2.0	2.0	1418	$10,250	$7.23	26d	1	0.57mi
1000 Spanish River Rd Boca Raton, FL	2.0	2.0	1377	$2,525	$1.83	6d	4	0.58mi
2999 Banyan Rd Boca Raton, FL	3.0	3.0	2389	$9,200	$3.85	26d	1	0.59mi
5610 S Ocean Blvd Boca Raton, FL	3.0	3.0	1700	$7,500	$4.41	26d	1	0.63mi
901 E Camino Real Boca Raton, FL	1.0–3.0	1.0–3.0	1800	$15,000	$8.33	1d	2	0.66mi
901 E Camino Real Boca Raton, FL	3.0	3.0	2430	$18,000	$7.41	14d	1	0.66mi
901 E Camino Real Boca Raton, FL	3.0	3.0	2430	$18,000	$7.41	16d	1	0.66mi
505 NE 20th Ave Deerfield Beach, FL	1.0–3.0	1.0–2.0	1227	$2,588	$2.11	9d	2	0.71mi
505 NE 20th Ave Deerfield Beach, FL	3.0	2.0	1791	$3,200	$1.79	16d	1	0.72mi
505 NE 20th Ave #201 Deerfield Beach, FL	3.0	2.0	1791	$3,200	$1.79	26d	1	0.74mi
1955 NE 4th St #2 Deerfield Beach, FL	1.0	2.0	1275	$4,500	$3.53	26d	1	0.82mi
1955 NE 4th St #1 Deerfield Beach, FL	2.0	1.0	1275	$4,500	$3.53	26d	1	0.82mi
1851 Thatch Palm Dr Boca Raton, FL	3.0	2.0	2460	$12,500	$5.08	22d	1	0.83mi
1917 NE 3rd St #109 Deerfield Beach, FL	2.0	2.5	1258	$3,080	$2.45	24d	1	0.89mi
1917 NE 3rd St #103 Deerfield Beach, FL	2.0	2.5	1258	$2,985	$2.37	6d	1	0.89mi
1917 NE 3rd St #104 Deerfield Beach, FL	2.0	2.5	1258	$3,100	$2.46	26d	1	0.89mi
1401 S Federal Hwy Boca Raton, FL	2.0	2.5	1281	$2,350	$1.83	4d	2	0.91mi
1401 S Federal Hwy Boca Raton, FL	2.0	2.5	1248	$2,500	$2.00	17d	2	0.91mi
1401 S Federal Hwy Boca Raton, FL	2.0	2.5	1248	$2,500	$2.00	18d	2	0.91mi
550 S Ocean Blvd #1009 Boca Raton, FL	2.0	2.0	1351	$10,000	$7.40	26d	1	1.03mi
101 E Camino Real Boca Raton, FL	3.0	1.0–2.5	1077	$5,871	$5.45	1d	7	1.04mi
500 S Ocean Blvd #1009 Boca Raton, FL	2.0	2.0	1351	$10,000	$7.40	9d	1	1.06mi
500 S Ocean Blvd #1207 Boca Raton, FL	2.0	2.0	1446	$14,000	$9.68	26d	1	1.06mi
100 SW 14th St Boca Raton, FL	3.0	2.0	1250	$3,185	$2.55	12d	1	1.08mi
300 SE 5th Ave Boca Raton, FL	3.0	4.5	2504	$12,500	$4.99	24d	2	1.10mi
300 SE 5th Ave Boca Raton, FL	2.0–3.0	3.5–4.5	2243	$13,000	$5.79	6d	2	1.10mi
1631 Riverview Rd #505 Deerfield Beach, FL	2.0	2.0	1420	$4,000	$2.82	26d	1	1.12mi
1629 Riverview Rd #221 Deerfield Beach, FL	3.0	2.0	1446	$3,800	$2.63	26d	1	1.13mi

HOA detail condo

• Monthly dues: $1,794 · $21,528/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-21
   days on market $479,000 Active 4 DOM
2. 2026-06-17
   remarks 683-char remark
3. 2026-06-17
   listed $479,000 Active 1 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: $4,151 · $346/mo
• Projected year-2 tax: $4,151 · $346/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 3/10 Moderate FEMA zone X (shaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°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 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $68,781
• − Mortgage interest: −$26,831
• − Property taxes: −$4,151
• − Insurance: −$2,395
• − Repairs & maintenance: −$5,502
• − Management: −$5,502
• − HOA: −$21,528
• − Depreciation: −$13,935
• Taxable loss: −$11,064
• Est. tax savings @ 24.0%: +$2,655
• After-tax cash flow: $-1,225/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

• Census place: Boca Raton, FL
• County: Palm Beach County · 1,438,312 people
• City population: 250,102
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 21,834
• Household income: $107,045
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1461.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 18% Two or more races 13% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Cuban 3%
• Common ancestry: Scotch-Irish 4% Subsaharan African 4% Romanian 4%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 77% English-only · Spanish 13% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -565.03%
• Current HPI: 391.7799
• Rent YoY: ▲ 4.56%
• 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

+204.1% since first listed

3 events — show timeline

• 2026-06-17 Listed $479,000 Beaches MLS
• 2001-06-19 Sold (Public Records) $223,000 Public Records
• 1993-05-17 Sold (Public Records) $157,500 Public Records

Property tax history

-0.0%/yr

Latest (2025): $4,151 · +3.2% YoY. Source: county tax records.