431 Mansfield Unit K · Boca Raton, FL 33434

$125,000

2 bd · 1.5 ba · 840 sqft · Condo public records · 142 Days on market

Built 1980 $780/mo HOA · 42% 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).

• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

GREAT COMMUNITY IN BEAUTIFUL SETTING OF 55 COMMUNITY FIRST FLOOR CONDO CLOSE TO SHOPPING AND DINING WITH VERY ACTIVE CLUBHOUSE WITH MANY AMENTIES POOL, WORK OUT ROOM, CARD ROOMS, THEATER.

Key facts

• Theater
• Active clubhouse
• Work out room

Tags

• FIRST FLOOR CONDO
• ACTIVE CLUBHOUSE
• POOL
• WORK OUT ROOM
• CARD ROOMS
• THEATER

Property features AI

Finance

• Other: Living area reported as 835 (building area total 925)
• Financial info: Pets not allowed
• HOA & community: HOA with monthly fee; HOA amenities include basketball court, pickleball court(s), clubhouse, fitness center, indoor pool, billiard room, game room, community room, jogging path, courtesy bus

Exterior

• Parking: Assigned parking
• Security: Located behind a gated community entrance
• Utilities: Public water; Public sewer; Three-phase electric; Sewer and water available
• Home design: Condominium; 3-story building; Resale property; Unit faces west
• Construction: CBS construction
• Exterior features: Patio; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 2 main-level bedrooms
• Flooring: Ceramic tile
• Bathrooms: 1 full bath; 1 half bath (2 total bathrooms)
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: No additional interior features listed
• Laundry & utility: No laundry equipment listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $-161 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $97k (22.7% below list).
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $97k (22.7% below list) — sets the bar for cash-flow.
• Cap rate 4.7% 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: schools A+, employment A+, health & safety A+; 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.
• Market conditions: Rents rising (+1.8%/yr); 418 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 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.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $61k; list at $125k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent.
• Climate carrying-cost: 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 $96,563 (22.7% 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 142 days. Have you received any prior offers? Is the seller open to a 23% 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: 1.50% ✓
• Cap rate: 4.75%
• Cash-on-cash: -5.52%
• DSCR: 0.75
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.81% rent growth · sell at horizon

5-year hold

• IRR: -27.9%
• Equity multiple: 0.08×
• Total profit: $-32,218
• Equity at exit: $18,638

10-year hold

• IRR: -36.2%
• Equity multiple: -0.37×
• Total profit: $-48,082
• Equity at exit: $10,808

Cash invested: $35,000 (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 33434

• Rents YoY: 1.8%
• Active inventory: 418
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,873 high
• Mortgage (P&I): −$656
• Tax from tax record: −$153 /mo · $1,834/yr
• Insurance: −$52
• HOA: −$780
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $-161

Break-even live

Break-even rent $2,077

Max offer price $96,563

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
84 Mansfield Dr Unit 84 Boca Raton, FL	2.0	1.5	840	$1,583	$1.88	24d	1	0.03mi
392 Mansfield I Unit I Boca Raton, FL	2.0	1.5	840	$1,850	$2.20	24d	1	0.03mi
431 Mansfield K Unit K Boca Raton, FL	2.0	1.5	835	$1,600	$1.92	22d	1	0.03mi
588 Mansfield M Unit M Boca Raton, FL	2.0	1.5	835	$1,475	$1.77	24d	1	0.03mi
9 Mansfield B #9 Boca Raton, FL	1.0	1.5	810	$1,400	$1.73	24d	1	0.03mi
543 Mansfield M #543 Boca Raton, FL	2.0	1.5	835	$1,890	$2.26	24d	1	0.03mi
445 Mansfield M Unit 445 Boca Raton, FL	2.0	1.5	840	$1,700	$2.02	7d	1	0.04mi
517 Mansfield M Unit 517 Boca Raton, FL	1.0	1.5	715	$1,550	$2.17	24d	1	0.10mi
74 Preston Way Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	22d	1	0.14mi
74 Preston Way Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	24d	1	0.14mi
91 Preston Way Unit 91 Boca Raton, FL	1.0	1.0	600	$1,500	$2.50	24d	1	0.14mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,350	$1.88	24d	1	0.14mi
204 Preston Way #204 Boca Raton, FL	1.0	1.0	810	$1,500	$1.85	1d	1	0.14mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,300	$1.81	2d	1	0.14mi
474 Mansfield L Unit L Boca Raton, FL	1.0	1.5	720	$1,400	$1.94	10d	1	0.14mi
457 Mansfield I Unit 457 Boca Raton, FL	1.0	1.5	720	$1,700	$2.36	3d	1	0.16mi
144 Mansfield D Unit d Boca Raton, FL	2.0	1.5	840	$1,500	$1.79	20d	1	0.16mi
332 Mansfield H Boca Raton, FL	2.0	1.5	840	$1,650	$1.96	24d	1	0.16mi
84 Mansfield B #84 Boca Raton, FL	2.0	1.5	840	$1,583	$1.88	14d	1	0.21mi
534 Mansfield M #534 Boca Raton, FL	1.0	1.5	715	$1,300	$1.82	24d	1	0.21mi
540 Mansfield M Boca Raton, FL	1.0	1.0	810	$1,400	$1.73	24d	1	0.21mi
256 Mansfield G Unit G Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	18d	1	0.21mi
445 Mansfield K #445 Boca Raton, FL	2.0	1.5	840	$1,700	$2.02	7d	1	0.21mi
86 Mansfield C Unit C Boca Raton, FL	1.0	1.5	720	$1,700	$2.36	11d	1	0.21mi
77 Preston Way #77 Boca Raton, FL	1.0	1.0	600	$1,450	$2.42	22d	1	0.21mi
162 Preston D Boca Raton, FL	1.0	1.0	810	$1,495	$1.85	24d	1	0.21mi
351 Mansfield Dr #351 Boca Raton, FL	2.0	1.5	840	$2,300	$2.74	24d	1	0.21mi
77 Preston Way #77 Boca Raton, FL	1.0	1.0	600	$1,350	$2.25	7d	1	0.21mi
99 Mansfield D #99 Boca Raton, FL	2.0	1.5	840	$1,500	$1.79	3d	1	0.22mi
1025 Newcastle B #1025 Boca Raton, FL	2.0	2.0	896	$1,800	$2.01	16d	1	0.29mi
4014 Newcastle A Unit A Boca Raton, FL	1.0	1.5	738	$1,495	$2.03	24d	1	0.29mi
2017 Newcastle A Unit 2017 Boca Raton, FL	2.0	2.0	896	$1,850	$2.06	24d	1	0.29mi
4030 Rexford A Unit 403 Boca Raton, FL	2.0	2.0	896	$1,700	$1.90	7d	1	0.33mi
4030 Rexford A Unit 403 Boca Raton, FL	2.0	2.0	896	$1,850	$2.06	24d	1	0.33mi
4030 Rexford B Boca Raton, FL	2.0	2.0	916	$1,700	$1.86	18d	1	0.35mi
2039 Rexford C Boca Raton, FL	2.0	2.0	896	$1,550	$1.73	24d	1	0.35mi
1030 Rexford B Boca Raton, FL	2.0	2.0	896	$1,800	$2.01	24d	1	0.35mi
4047 Lincoln C Unit C Boca Raton, FL	2.0	2.0	916	$2,100	$2.29	5d	1	0.38mi
209 Suffolk F Unit F Boca Raton, FL	1.0	1.5	720	$1,400	$1.94	24d	1	0.39mi
68 Suffolk F Unit 68 Boca Raton, FL	1.0	1.5	720	$2,750	$3.82	24d	1	0.39mi

HOA detail condo

• Monthly dues: $780 · $9,360/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-03
   days on market $125,000 Active 142 DOM
2. 2026-06-01
   days on market $125,000 Active 140 DOM
3. 2026-05-31
   days on market $125,000 Active 139 DOM
4. 2026-05-09
   price $125,000
5. 2026-02-23
   status Active
6. 2026-02-14
   status Pending
7. 2026-01-03
   listed $135,000 Active
8. 2019-10-24
   soldstatus $61,000

ⓘ 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: $1,834 · $153/mo
• Projected year-2 tax: $1,834 · $153/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 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 · 27 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: $22,473
• − Mortgage interest: −$7,002
• − Property taxes: −$1,834
• − Insurance: −$625
• − Repairs & maintenance: −$1,798
• − Management: −$1,798
• − HOA: −$9,360
• − Depreciation: −$3,636
• Taxable loss: −$3,580
• Est. tax savings @ 24.0%: +$859
• After-tax cash flow: $-1,072/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): 21,686
• Household income: $77,269
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 812.0

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% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 9% Scotch-Irish 8% Italian 2%
• Foreign-born: 25% · Canada, Jamaica, South Korea
• Languages at home: 73% English-only · Spanish 15% Other Indo-European 4% Russian/Polish/Slavic 1%

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: ▼ -279.89%
• Current HPI: 271.1328
• Rent YoY: ▲ 1.81%
• 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

+104.9% since first listed

5 events — show timeline

• 2026-05-09 Price Changed $125,000 Beaches MLS
• 2026-02-23 Relisted — Beaches MLS
• 2026-02-14 Pending — Beaches MLS
• 2026-01-03 Listed $135,000 Beaches MLS
• 2019-10-24 Sold (Public Records) $61,000 Public Records

Property tax history

+17.9%/yr

Latest (2025): $1,834 · -0.4% YoY. Source: county tax records.