8901 Windtree St · Boca Raton, FL 33496

$299,900

2 bd · 2.0 ba · 1,000 sqft · Condo public records · 87 Days on market

Built 1987 $197/mo HOA · 8% 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 +12.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• DSCR +3.5/10.0
• Rent growth +3.1/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0

Listing remarks

This beautifully remodeled and move-in ready 2-bedroom, 2-bathroom villa offers comfort, style, and modern upgrades, complete with a serene lake view. The spacious primary suite features a private en-suite bathroom, walk-in closet and has views of the lake. The home has been thoughtfully updated with new tile flooring throughout, impact windows, along with a fully remodeled kitchen and bathrooms featuring designer finishes and contemporary style. The kitchen is equipped with newer appliances, ample cabinetry, and plenty of storage space. Located in Whipser Walk, a desirable active 55+ gated community, residents enjoy top tier amenities including tennis and pickleball courts, a heated pool,

Key facts

• 2 parking spots
• Built 1987
• Listed 86 days

Property features AI

Finance

• Other: Senior community
• Financial info: Pets not allowed
• HOA & community: Association: Seacrest Services; Quarterly HOA fee; Association amenities include billiard room, clubhouse, fitness center, shuffleboard, spa/hot tub, tennis courts, community room, heated pool, internet included, library, maintained community, pickleball courts, sidewalks, gated community, on-site security; HOA covers cable TV, internet, grounds maintenance, structure maintenance, sewer, trash, water, common areas, roof repairs, and recreation facility

Exterior

• Parking: 2 open parking spaces; Concrete driveway
• Security: Gated community (no guard)
• Utilities: Public water; Public sewer; Cable connected; Electricity available; Sewer connected
• Home design: Villa; Single-story; Resale property; Faces south
• Construction: Built with CBS construction materials; Shingle roof; 1,000 total living area (public records)
• Exterior features: Covered patio; Patio; Waterfront (no specific waterfront features listed)

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Disposal; Refrigerator; Freezer; Electric water heater
• Bedrooms: 2 main-level bedrooms
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Central heating; Central air conditioning; Ceiling fan(s)
• Interior features: Split bedroom layout; Blinds on windows
• Laundry & utility: Hall laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $300k.

Deal economics

• At list price, monthly cash flow is $-73 ($-871/yr) — negative.
• To cash-flow at today's rent, offer at most $287k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $240k (20.1% below list).
• Recommended offer: $240k (20.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: 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); 330 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $32k of equity ($2k loan paydown + $30k 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.
• At projected returns (10.0% appreciation + 2.3% rent growth), your $84k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $185k; list at $300k implies a 62% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $239,584 (20.1% 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 87 days. Have you received any prior offers? Is the seller open to a 20% 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. 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. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.80% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.04%
• DSCR: 0.95
• GRM: 10.4

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: 23.3%
• Equity multiple: 2.87×
• Total profit: $157,029
• Equity at exit: $270,174

10-year hold

• IRR: 20.6%
• Equity multiple: 6.51×
• Total profit: $462,742
• Equity at exit: $582,640

Cash invested: $83,972 (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: 330
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,396 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$71 /mo · $848/yr
• Insurance: −$125
• HOA: −$197
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $-73

Break-even live

Break-even rent $2,488

Max offer price $287,079

Occupancy floor 98%

Sensitivity live

Price	-10% $97	-5% $12	+0% $-73	+5% $-157	+10% $-242
Rent	-10% $-262	-5% $-167	+0% $-73	+5% $22	+10% $117
Rate	-1.0pp $78	-0.5pp $4	base $-73	+0.5pp $-150	+1.0pp $-229

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8664 Jasmine Way Boca Raton, FL	2.0	2.0	1162	$1,795	$1.54	25d	1	0.12mi
8146 Windgate Dr Boca Raton, FL	2.0	2.0	1310	$5,000	$3.82	25d	1	0.20mi
8705 Via Giula #4 Boca Raton, FL	3.0	2.0	1477	$3,500	$2.37	25d	1	0.24mi
8705 Via Giula #4 Boca Raton, FL	3.0	2.0	1477	$3,400	$2.30	16d	1	0.24mi
9708 Erica Ct Boca Raton, FL	2.0	2.0	1410	$4,800	$3.40	25d	1	0.32mi
18434 Via Di Sorrento Boca Raton, FL	3.0	2.0	1480	$3,495	$2.36	9d	1	0.39mi
18595 Egret Way #18595 Boca Raton, FL	2.0	2.0	1000	$2,200	$2.20	25d	1	0.45mi
18765 Candlewick Dr Boca Raton, FL	2.0	2.0	863	$2,300	$2.67	25d	1	0.45mi
18855 Candlewick Dr Boca Raton, FL	2.0	2.0	1022	$2,600	$2.54	25d	1	0.46mi
18890 Candlewick Dr Unit B Boca Raton, FL	2.0	2.0	1044	$2,600	$2.49	25d	1	0.46mi
204 Preston Way #204 Boca Raton, FL	1.0	1.0	810	$1,500	$1.85	2d	1	0.51mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,300	$1.81	3d	1	0.51mi
74 Preston Way Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	25d	1	0.51mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,350	$1.88	25d	1	0.51mi
74 Preston Way Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	23d	1	0.51mi
84 Mansfield Dr Unit 84 Boca Raton, FL	2.0	1.5	840	$1,583	$1.88	25d	1	0.55mi
9 Mansfield B #9 Boca Raton, FL	1.0	1.5	810	$1,400	$1.73	25d	1	0.55mi
392 Mansfield I Unit I Boca Raton, FL	2.0	1.5	840	$1,850	$2.20	25d	1	0.55mi
543 Mansfield M #543 Boca Raton, FL	2.0	1.5	835	$1,890	$2.26	25d	1	0.55mi
431 Mansfield K Unit K Boca Raton, FL	2.0	1.5	835	$1,600	$1.92	23d	1	0.55mi
588 Mansfield M Unit M Boca Raton, FL	2.0	1.5	835	$1,475	$1.77	25d	1	0.55mi
445 Mansfield M Unit 445 Boca Raton, FL	2.0	1.5	840	$1,700	$2.02	9d	1	0.55mi
169 Suffolk F Unit F Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	0d	1	0.61mi
209 Suffolk F Unit F Boca Raton, FL	1.0	1.5	720	$1,400	$1.94	25d	1	0.61mi
68 Suffolk F Unit 68 Boca Raton, FL	1.0	1.5	720	$2,750	$3.82	25d	1	0.61mi
517 Mansfield M Unit 517 Boca Raton, FL	1.0	1.5	715	$1,550	$2.17	25d	1	0.61mi
171 Suffolk F #171 Boca Raton, FL	1.0	1.5	720	$1,500	$2.08	12d	1	0.61mi
250 Suffolk F #250 Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	4d	1	0.61mi
474 Mansfield L Unit L Boca Raton, FL	1.0	1.5	720	$1,400	$1.94	12d	1	0.62mi
497 Mansfield L Unit L Boca Raton, FL	1.0	1.0	810	$1,500	$1.85	0d	1	0.63mi
351 Mansfield Dr #351 Boca Raton, FL	2.0	1.5	840	$2,300	$2.74	25d	1	0.67mi
162 Preston D Boca Raton, FL	1.0	1.0	810	$1,495	$1.85	25d	1	0.67mi
9104 Affirmed Ln Boca Raton, FL	3.0	2.0	1266	$3,215	$2.54	0d	1	0.67mi
457 Mansfield I Unit 457 Boca Raton, FL	1.0	1.5	720	$1,700	$2.36	4d	1	0.67mi
144 Mansfield D Unit d Boca Raton, FL	2.0	1.5	840	$1,500	$1.79	22d	1	0.67mi
202 Mansfield E Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	0d	1	0.67mi
332 Mansfield H Boca Raton, FL	2.0	1.5	840	$1,650	$1.96	25d	1	0.67mi
99 Mansfield D #99 Boca Raton, FL	2.0	1.5	840	$1,500	$1.79	4d	1	0.71mi
84 Mansfield B #84 Boca Raton, FL	2.0	1.5	840	$1,550	$1.85	0d	1	0.72mi
256 Mansfield G Unit G Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	20d	1	0.72mi

HOA detail condo

• Monthly dues: $197 · $2,364/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $299,900 Active 87 DOM
2. 2026-06-18
   days on market $299,900 Active 84 DOM
3. 2026-06-17
   days on market $299,900 Active 83 DOM
4. 2026-06-16
   days on market $299,900 Active 82 DOM
5. 2026-06-15
   days on market $299,900 Active 81 DOM
6. 2026-06-13
   days on market $299,900 Active 79 DOM
7. 2026-06-09
   days on market $299,900 Active 75 DOM
8. 2026-06-08
   days on market $299,900 Active 74 DOM
9. 2026-06-07
   days on market $299,900 Active 73 DOM
10. 2026-06-04
    days on market $299,900 Active 70 DOM
11. 2026-06-03
    days on market $299,900 Active 69 DOM
12. 2026-06-02
    days on market $299,900 Active 68 DOM
13. 2026-06-01
    days on market $299,900 Active 67 DOM
14. 2026-05-31
    days on market $299,900 Active 66 DOM
15. 2026-05-11
    price $299,900
16. 2026-03-26
    listed $324,900 Active
17. 2026-02-18
    soldstatus $185,000

ⓘ 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: $848 · $71/mo
• Projected year-2 tax: $2,489 · $207/mo
• Expected delta: +$1,642/yr (+$137/mo · 193.7%)

ⓘ 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 ≥107°F today · 25 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: $28,750
• − Mortgage interest: −$16,799
• − Property taxes: −$848
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,300
• − Management: −$2,300
• − HOA: −$2,364
• − Depreciation: −$8,724
• Taxable loss: −$6,084
• Est. tax savings @ 24.0%: +$1,460
• After-tax cash flow: $589/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

+62.1% since first listed

3 events — show timeline

• 2026-05-11 Price Changed $299,900 Beaches MLS
• 2026-03-26 Listed $324,900 Beaches MLS
• 2026-02-18 Sold (Public Records) $185,000 Public Records

Property tax history

-0.6%/yr

Latest (2025): $848 · +2.9% YoY. Source: county tax records.