37006 Exuma Bay · Boynton Beach, FL 33436

$279,500

2 bd · 2.0 ba · 966 sqft · Manufactured public records · 224 Days on market

Built 2023 3,920 sqft lot $270/mo HOA · 13% of rent

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

• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Rent growth +2.4/5.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

BRAND NEW 2024 Furnished Home in desirable 55+ Community. NO LAND LEASE. Low monthly fee. 24 Hour Manned Gated community with Heated Pools, Active Clubhouse, Library, Billiards, Bingo, Shuffleboard, Pickleball and more. Everything in this home less than 2 years old. Come and enjoy your screened Front Porch with picturesque views of the South Florida sunsets. Home features Kitchen with White Cabinets, Large Pantry, SS Appliances. Vinyl Flooring throughout. Dual Pane windows with drop down for easy cleaning, Open floor plan with plenty of natural lighting. Master Bedroom has walk in closet, Master Bathroom has dual sinks and step shower for easy access. Spacious Guest Bedroom and Guest Bathro

Key facts

• Heated pools
• Active clubhouse
• Billiards

Tags

• 24 HOUR MANNED GATED
• HEATED POOLS
• ACTIVE CLUBHOUSE
• LIBRARY
• BILLIARDS
• BINGO

Property features AI

Finance

• Other: Located in a senior community
• Financial info: Pets allowed (with number limit)
• HOA & community: Has association; Monthly HOA fee (approx.): $270; HOA covers maintenance of grounds, security, sewer, water and common areas; Community amenities include: clubhouse, pool, fitness center, billiard room, bocce, shuffleboard, pickleball courts, dog park, community room, library, internet included, manager on site, street lights

Exterior

• Parking: Attached carport; Carport
• Security: Gated community with guard
• Utilities: Public water; Public sewer; Sewer and water available
• Home design: Manufactured home, resale; Single-story; Faces west
• Construction: Modular construction; Composition/shingle roof
• Exterior features: Screened porch; Porch; Shed(s); Not waterfront

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Walk-in closets; Split bedroom layout; Furnished
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $280k.

Deal economics

• At list price, monthly cash flow is $-362 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $215k (22.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (25.5% below list).
• Recommended offer: $208k (25.5% below list) — sets the bar for 1% rule.

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 soft (-0.6%/yr); 445 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).
• This rent runs 33% of the median local income ($76k/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 $2k of loan paydown is wiped out by about $8k 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

• It's been on market 224 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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 $44k; list at $280k implies a 535% 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 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $208,154 (25.5% 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 224 days. Have you received any prior offers? Is the seller open to a 26% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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 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: 0.74% ✗
• Cap rate: 4.74%
• Cash-on-cash: -5.56%
• DSCR: 0.75
• GRM: 11.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -29.3%
• Equity multiple: 0.05×
• Total profit: $-74,396
• Equity at exit: $41,674

10-year hold

• IRR: -49.2%
• Equity multiple: -0.50×
• Total profit: $-117,764
• Equity at exit: $24,166

Cash invested: $78,260 (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 33436

• Home prices YoY: -26.0%
• Rents YoY: -0.6%
• Active inventory: 445
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,082 high
• Mortgage (P&I): −$1,466
• Tax from tax record: −$155 /mo · $1,856/yr
• Insurance: −$116
• HOA: −$270
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $-362

Break-even live

Break-even rent $2,540

Max offer price $215,478

Occupancy floor —

Sensitivity live

Price	-10% $-204	-5% $-283	+0% $-362	+5% $-442	+10% $-521
Rent	-10% $-527	-5% $-445	+0% $-362	+5% $-280	+10% $-198
Rate	-1.0pp $-222	-0.5pp $-291	base $-362	+0.5pp $-435	+1.0pp $-509

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: $69,875
• Closing costs: $8,385
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4482 King Theodore Dr Boynton Beach, FL	1.0	1.0	800	$1,795	$2.24	25d	1	0.36mi
8949 Oak St Boynton Beach, FL	2.0	2.0	1040	$1,300	$1.25	25d	1	0.58mi
9900 Pineapple Tree Dr #106 Boynton Beach, FL	2.0	2.0	1008	$2,250	$2.23	25d	1	1.00mi
9935 Pineapple Tree Dr #202 Boynton Beach, FL	2.0	2.0	1008	$2,575	$2.55	15d	1	1.03mi
3930 Max Pl Boynton Beach, FL	1.0	1.0	925	$2,550	$2.76	22d	1	1.10mi
3500 Sandpiper Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	1147	$2,579	$2.25	22d	22	1.18mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,311	$2.27	0d	19	1.46mi

HOA detail

• Monthly dues: $270 · $3,240/yr
• Likely covers: poolsecurity

Listing history 29 events

1. 2026-06-18
   days on market $279,500 Active 224 DOM
2. 2026-06-17
   days on market $279,500 Active 223 DOM
3. 2026-06-16
   days on market $279,500 Active 222 DOM
4. 2026-06-15
   days on market $279,500 Active 221 DOM
5. 2026-06-13
   days on market $279,500 Active 219 DOM
6. 2026-06-09
   days on market $279,500 Active 215 DOM
7. 2026-06-07
   days on market $279,500 Active 213 DOM
8. 2026-06-04
   days on market $279,500 Active 210 DOM
9. 2026-06-03
   days on market $279,500 Active 209 DOM
10. 2026-06-01
    days on market $279,500 Active 207 DOM
11. 2026-05-31
    days on market $279,500 Active 206 DOM
12. 2025-11-16
    price $279,500
13. 2025-11-06
    listed $287,500 Active
14. 2025-05-11
    historical
15. 2025-04-07
    price $288,000
16. 2025-03-16
    price $295,000
17. 2025-02-10
    price $299,000
18. 2025-01-16
    price $317,500
19. 2024-11-01
    price $320,000
20. 2024-10-07
    listed $329,900 Active
21. 2013-09-21
    historical
22. 2011-11-14
    historical
23. 2009-09-14
    listed $39,900
24. 2008-02-29
    historical
25. 2008-01-22
    historical
26. 2007-08-29
    listed $69,900
27. 2007-01-22
    listed $69,900
28. 2005-12-18
    listed $70,000
29. 1993-07-01
    soldstatus $44,000

ⓘ 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: $1,856 · $155/mo
• Projected year-2 tax: $2,320 · $193/mo
• Expected delta: +$464/yr (+$39/mo · 25.0%)

ⓘ 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 6 d/yr ≥106°F today · 20 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: $24,978
• − Mortgage interest: −$15,656
• − Property taxes: −$1,856
• − Insurance: −$1,398
• − Repairs & maintenance: −$1,998
• − Management: −$1,998
• − HOA: −$3,240
• − Depreciation: −$8,131
• Taxable loss: −$9,299
• Est. tax savings @ 24.0%: +$2,232
• After-tax cash flow: $-2,117/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

• County: Palm Beach County · 1,438,312 people
• City population: 148,060
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 48,743
• Household income: $75,789
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 1813.0

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 0.64)
• Race & ethnicity: White 52% Black 24% Hispanic / Latino 19% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 3% Dominican 1%
• Common ancestry: Hispanic 12% Romanian 3% Scotch-Irish 2%
• Foreign-born: 27% · Canada, Jamaica, Vietnam
• Languages at home: 64% English-only · Spanish 14% French/Haitian/Cajun 13% 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: ▼ -109.59%
• Current HPI: 311.7742
• Rent YoY: ▼ -0.57%
• 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

+535.2% since first listed

18 events — show timeline

• 2025-11-16 Price Changed $279,500 Beaches MLS
• 2025-11-06 Listed $287,500 Beaches MLS
• 2025-05-11 Listing Removed — Beaches MLS
• 2025-04-07 Price Changed $288,000 Beaches MLS
• 2025-03-16 Price Changed $295,000 Beaches MLS
• 2025-02-10 Price Changed $299,000 Beaches MLS
• 2025-01-16 Price Changed $317,500 Beaches MLS
• 2024-11-01 Price Changed $320,000 Beaches MLS
• 2024-10-07 Listed $329,900 Beaches MLS
• 2013-09-21 Listing Removed — Beaches MLS
• 2011-11-14 Listing Removed — Beaches MLS
• 2009-09-14 Listed $39,900 Beaches MLS
• 2008-02-29 Listing Removed — Beaches MLS
• 2008-01-22 Listing Removed — Beaches MLS
• 2007-08-29 Listed $69,900 Beaches MLS
• 2007-01-22 Listed $69,900 Beaches MLS
• 2005-12-18 Listed $70,000 Beaches MLS
• 1993-07-01 Sold (Public Records) $44,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $1,856 · +4.2% YoY. Source: county tax records.