850 Horizon St E · Boynton Beach, FL 33435

$122,000

1 bd · 2.0 ba · 705 sqft · SingleFamily · 31 Days on market

Built 1967 Fair condition

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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 +30.0/30.0
• 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 +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

New ac/heat works great End unit so it has side windows on the first floor You can see car from the unit Steps from the water Enclosed Lania Tiled floor throughout New bathroom vanities New hot water heater

Key facts

• Side windows
• End unit
• Tiled floor

Tags

• END UNIT
• SIDE WINDOWS
• STEPS FROM THE WATER
• ENCLOSED LANAI
• TILED FLOOR
• NEW BATHROOM VANITIES

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath single-family listed at $122k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $122k).
• Recommended offer: $118k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.1% 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); 538 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 34% 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 $843 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $118,340 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.59% ✓
• Cap rate: 13.11%
• Cash-on-cash: 24.36%
• DSCR: 2.08
• GRM: 5.2

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: -0.9%
• Equity multiple: 0.96×
• Total profit: $-1,221
• Equity at exit: $18,191

10-year hold

• IRR: 9.8%
• Equity multiple: 1.80×
• Total profit: $27,246
• Equity at exit: $10,548

Cash invested: $34,160 (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: 538
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,945 high
• Mortgage (P&I): −$640
• Tax est. 1.5%: −$152 /mo · $1,830/yr
• Insurance: −$51
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $267

Break-even live

Break-even rent $1,607

Max offer price $122,000

Occupancy floor 81%

Sensitivity live

Price	-10% $351	-5% $309	+0% $267	+5% $225	+10% $183
Rent	-10% $113	-5% $190	+0% $267	+5% $344	+10% $421
Rate	-1.0pp $328	-0.5pp $298	base $267	+0.5pp $235	+1.0pp $203

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: $30,500
• Closing costs: $3,660
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
850 Horizons E #309 Boynton Beach, FL	1.0	1.5	646	$1,990	$3.08	21d	1	0.03mi
650 Horizons E #107 Boynton Beach, FL	1.0	1.0	570	$1,600	$2.81	25d	1	0.08mi
800 Horizons W #211 Boynton Beach, FL	1.0	1.0	570	$1,650	$2.89	16d	1	0.08mi
620 Horizons W #207 Boynton Beach, FL	1.0	1.0	570	$1,200	$2.11	25d	1	0.18mi
1001 S Federal Hwy Unit 3 Boynton Beach, FL	1.0	1.0	650	$1,995	$3.07	25d	1	0.25mi
240 Horizons W #108 Boynton Beach, FL	1.0	1.5	646	$1,600	$2.48	25d	1	0.29mi
640 SE 2nd Ave Unit 111 Boynton Beach, FL	1.0	1.0	650	$1,720	$2.65	4d	1	0.33mi
638 Snug Harbor Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	747	$1,600	$2.14	25d	2	0.36mi
640 Snug Harbor Dr Unit F3 Boynton Beach, FL	1.0	1.0	629	$2,500	$3.97	12d	1	0.38mi
101 S Federal Hwy Boynton Beach, FL	1.0–2.0	1.0–2.0	969	$2,012	$2.08	0d	16	0.41mi
100 NE 6th St Boynton Beach, FL	1.0	1.0	745	$2,975	$3.99	20d	3	0.45mi
100 NE 6th St Boynton Beach, FL	1.0	1.0	745	$2,975	$3.99	13d	3	0.45mi
207 SE 4th Ave Boynton Beach, FL	1.0	1.0	650	$1,795	$2.76	3d	1	0.46mi
5505 N Ocean Blvd Ocean Ridge, FL	1.0–2.0	1.0–2.0	774	$1,950	$2.52	12d	3	0.57mi
400 N Federal Hwy Unit N304 Boynton Beach, FL	1.0	1.0	640	$2,400	$3.75	25d	1	0.63mi
115 SW 1st Ave Boynton Beach, FL	1.0–2.0	1.0–2.0	804	$1,875	$2.33	16d	2	0.71mi
518 NE 4th St Unit A Boynton Beach, FL	1.0	1.0	500	$1,700	$3.40	17d	1	0.74mi
6520 N Ocean Blvd Apt 3 Ocean Ridge, FL	1.0	1.0	702	$3,500	$4.99	25d	1	0.79mi
6520 N Ocean Blvd Ocean Ridge, FL	1.0–2.0	1.0	776	$2,400	$3.09	13d	1	0.79mi
22 Oceanview Dr Ocean Ridge, FL	1.0	1.0	620	$3,500	$5.65	25d	1	0.79mi
515 SE 20th Ave Boynton Beach, FL	2.0	1.0	787	$1,719	$2.18	0d	5	0.79mi
689 NE 6th Ct #4070 Boynton Beach, FL	1.0	1.0	703	$1,900	$2.70	18d	1	0.81mi
689 NE 6th Ct #404 Boynton Beach, FL	1.0	1.0	703	$2,000	$2.84	25d	1	0.81mi
405 SE 20th Ave Unit 5F Boynton Beach, FL	—	1.0	600	$1,489	$2.48	23d	1	0.82mi
615 NE 7th Ave Boynton Beach, FL	1.0	1.0	698	$1,699	$2.43	18d	1	0.89mi
21 Ruthmary Ave Unit G Briny Breezes, FL	1.0	1.0	396	$2,850	$7.20	25d	1	0.91mi
1407 Tuscany Way #1407 Boynton Beach, FL	1.0	1.0	721	$2,100	$2.91	4d	1	0.92mi
2303 S Federal Hwy #19 Boynton Beach, FL	1.0	1.0	615	$1,450	$2.36	6d	1	0.93mi
2412 Tuscany Way Boynton Beach, FL	1.0	1.0	750	$3,000	$4.00	25d	1	0.95mi
2301 SE 4th St Unit 15 Boynton Beach, FL	1.0	1.0	573	$1,545	$2.70	25d	1	0.97mi
2301 SE 4th St #11 Boynton Beach, FL	1.0	1.0	573	$1,595	$2.78	25d	1	0.97mi
14 South Ln Unit A Boynton Beach, FL	—	1.0	430	$1,500	$3.49	0d	1	1.00mi
4603 N Ocean Blvd Unit 1018163P Boynton Beach, FL	2.0	1.0	581	$2,573	$4.43	23d	1	1.01mi
205 Coral Rd Unit 1 Boynton Beach, FL	1.0	1.0	500	$2,300	$4.60	25d	1	1.03mi
717 NE 10th Ave Unit 6 Boynton Beach, FL	1.0	1.0	700	$1,600	$2.29	8d	1	1.05mi
656 Manor Dr Unit 3 Boynton Beach, FL	—	1.0	650	$1,600	$2.46	23d	1	1.11mi
430 NW 12th Ave Unit A Boynton Beach, FL	1.0	1.0	500	$2,195	$4.39	25d	1	1.44mi
3851 N Ocean Blvd Gulf Stream, FL	1.0–2.0	1.0	677	$2,900	$4.28	25d	4	1.45mi
408 NW 13th Ave Unit 2 Boynton Beach, FL	1.0	1.0	400	$1,375	$3.44	25d	1	1.46mi

Listing history 13 events

1. 2026-06-21
   days on market $122,000 Active 31 DOM
2. 2026-06-18
   days on market $122,000 Active 28 DOM
3. 2026-06-17
   days on market $122,000 Active 27 DOM
4. 2026-06-16
   days on market $122,000 Active 26 DOM
5. 2026-06-15
   days on market $122,000 Active 25 DOM
6. 2026-06-13
   days on market $122,000 Active 23 DOM
7. 2026-06-09
   days on market $122,000 Active 19 DOM
8. 2026-06-07
   days on market $122,000 Active 17 DOM
9. 2026-06-04
   days on market $122,000 Active 14 DOM
10. 2026-06-03
    days on market $122,000 Active 13 DOM
11. 2026-06-01
    days on market $122,000 Active 11 DOM
12. 2026-05-31
    days on market $122,000 Active 10 DOM
13. 2026-05-22
    listed $122,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 97% 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,339
• − Mortgage interest: −$6,834
• − Property taxes: −$1,830
• − Insurance: −$5,728
• − Repairs & maintenance: −$1,867
• − Management: −$1,867
• − Depreciation: −$3,549
• Taxable income: $1,664
• Est. tax owed @ 24.0%: −$399
• After-tax cash flow: $2,803/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.

Condition & rehab AI · 2 photos

Fair 45/100 Cosmetic rehab

This home requires cosmetic repairs, including painting and roof replacement, to improve its curb appeal and value.

Repairs flagged

• Major roof — Signs of aging
• Major siding — Visible wear

Value-add opportunities

• Both paint exterior — Fresh paint enhances curb appeal and value
• Both replace roof — New roof improves structural integrity and boosts value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of aging	Major	$15,000–50,000
siding · Visible wear	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both paint exterior — Fresh paint enhances curb appeal and value ↑
• Both replace roof — New roof improves structural integrity and boosts value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-05-22 Listed $122,000 FSBO.com