555 NW 4 Ave #4230 · Boca Raton, FL 33432

$225,000

2 bd · 2.0 ba · 1,056 sqft · Condo public records · 5 Days on market

Built 1969 $789/mo HOA · 26% 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 +14.5/30.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2BR/2BA Condo -Boutique East Boca Building- All Assessments Paid by Seller! Freshly painted and move-in ready, this Unfurnished 2 bedroom, 2 bathroom condo checks every box. Nestled on the 4th floor of a charming 5-story boutique building, this home features a private lanai that faces East so you can enjoy the morning sunrise while being just minutes from the beach, Mizner Park, and the heart of downtown Boca Raton. Set within a welcoming 55+ active adult community, this home delivers comfort, convenience and peace of mind. Hurricane shutters, a deeded covered parking spot, and a large private storage unit are all included. Building renovations are nearly complete and the best part? The se

Key facts

• Clubhouse
• Renovated pool
• Shuffleboard

Tags

• PRIVATE LANAI
• DEEDED COVERED PARKING SPOT
• LARGE PRIVATE STORAGE UNIT
• RENOVATED POOL
• SHUFFLEBOARD
• CLUBHOUSE

Property features AI

Finance

• HOA & community: Association with monthly fee; Association amenities include pool, elevator(s), billiard room, game room, community room, shuffleboard court, storage, on-site manager, management, laundry, trash chute; HOA fee is collected monthly and includes cable TV, insurance, grounds maintenance, sewer, trash, water, common areas, and elevator; Senior community; Community has 125 units; pets not allowed

Exterior

• Parking: Assigned covered parking; Detached carport; One covered/carport space (total parking for 1)
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; One level; Resale property; Faces east
• Construction: Concrete and stucco construction; Flat roof; Block foundation; Five-story building (building name: 555)
• Exterior features: Gated fencing; Paved road frontage; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Owned water purifier; Owned water softener
• Bedrooms: One bedroom on the main level
• Flooring: Carpet; Ceramic tile / tile
• Bathrooms: Two full bathrooms; One bathroom on the main level
• Heating & cooling: Central electric heating; Central electric cooling (central air)
• Interior features: Entrance foyer; Walk-in closet(s); Split bedroom layout; Furnished; Blinds and shutters on windows
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $50 ($598/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Cap rate 6.6% 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: 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); 472 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 34% of the median local income ($107k/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 $7k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 19y 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 $88k; list at $225k implies a 154% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 26% 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 $225,000

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.33% ✓
• Cap rate: 6.56%
• Cash-on-cash: 0.95%
• DSCR: 1.04
• GRM: 6.2

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: -12.0%
• Equity multiple: 0.56×
• Total profit: $-27,990
• Equity at exit: $33,548

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $2,064
• Equity at exit: $19,454

Cash invested: $63,000 (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 33432

• Rents YoY: 4.6%
• Active inventory: 472
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $3,000 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$258 /mo · $3,091/yr
• Insurance: −$94
• HOA: −$789
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $50

Break-even live

Break-even rent $2,937

Max offer price $225,000

Occupancy floor 93%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
249 NW 4th Diagonal Boca Raton, FL	3.0	2.0	1490	$3,500	$2.35	24d	1	0.25mi
373 NW 4th Diagonal Boca Raton, FL	2.0	2.0	1000	$2,220	$2.22	24d	1	0.25mi
491 NW 2nd Ave Boca Raton, FL	2.0	1.0	1182	$3,200	$2.71	24d	1	0.31mi
491 NW 2nd Ave Boca Raton, FL	2.0	1.0	1182	$3,200	$2.71	19d	1	0.31mi
320 W Palmetto Park Rd Boca Raton, FL	3.0	1.0–3.0	1213	$3,372	$2.78	2d	27	0.34mi
461 SW 1st St Boca Raton, FL	3.0	2.0	1410	$4,600	$3.26	16d	1	0.36mi
461 SW 1st St Boca Raton, FL	3.0	2.0	1489	$4,600	$3.09	24d	1	0.36mi
50 SW 3rd Ave #2010 Boca Raton, FL	2.0	2.0	918	$1,950	$2.12	22d	1	0.40mi
50 SW 3rd Ave #311 Boca Raton, FL	2.0	2.0	918	$2,500	$2.72	11d	1	0.40mi
50 SW 3rd Ave #1060 Boca Raton, FL	2.0	2.0	918	$2,250	$2.45	24d	1	0.40mi
50 SW 3rd Ave #1060 Boca Raton, FL	2.0	2.0	918	$2,250	$2.45	22d	1	0.40mi
50 SW 3rd Ave #311 Boca Raton, FL	2.0	2.0	918	$2,500	$2.72	24d	1	0.40mi
642 NW 13th St #310 Boca Raton, FL	3.0	2.0	1286	$2,575	$2.00	24d	1	0.43mi
464 NW 11th St Boca Raton, FL	3.0	2.0	1205	$5,500	$4.56	5d	1	0.44mi
464 NW 11th St Boca Raton, FL	3.0	2.0	1205	$5,250	$4.36	22d	1	0.44mi
464 NW 11th St Boca Raton, FL	3.0	2.0	1205	$5,500	$4.56	15d	1	0.44mi
644 NW 13th St #35 Boca Raton, FL	1.0	1.0	700	$1,650	$2.36	10d	1	0.44mi
644 NW 13th St #160 Boca Raton, FL	2.0	2.0	847	$2,300	$2.72	22d	1	0.44mi
644 NW 13th St Unit 28 Boca Raton, FL	2.0	2.0	850	$2,000	$2.35	5d	1	0.44mi
644 NW 13th St #160 Boca Raton, FL	2.0	2.0	847	$2,300	$2.72	14d	1	0.44mi
272 SW 1st St Unit B Boca Raton, FL	2.0	1.0	900	$2,300	$2.56	24d	1	0.45mi
115 NW 7th St Boca Raton, FL	3.0	2.0	1008	$4,250	$4.22	4d	1	0.46mi
626 NW 13th St #310 Boca Raton, FL	3.0	2.0	1301	$2,895	$2.23	24d	1	0.47mi
626 NW 13th St #280 Boca Raton, FL	2.0	2.0	847	$2,200	$2.60	4d	1	0.47mi
230 SW 1st St Boca Raton, FL	2.0	2.0	1000	$2,850	$2.85	15d	1	0.48mi
626 NW 13th St #16 Boca Raton, FL	2.0	2.0	847	$1,950	$2.30	5d	1	0.49mi
602 NW 13th St Unit Oaks 626-31 Boca Raton, FL	3.0	2.0	1286	$2,895	$2.25	5d	1	0.49mi
606 NW 13th St #23 Boca Raton, FL	3.0	2.0	1286	$2,500	$1.94	24d	1	0.52mi
620 NW 13th St #15 Boca Raton, FL	1.0	1.0	700	$1,850	$2.64	8d	1	0.53mi
614 NW 13th St #280 Boca Raton, FL	2.0	2.0	847	$1,900	$2.24	24d	1	0.54mi
610 NW 13th St #0023 Boca Raton, FL	3.0	2.0	1286	$2,750	$2.14	24d	1	0.56mi
610 NW 13th St #210 Boca Raton, FL	2.0	2.0	847	$2,350	$2.77	8d	1	0.56mi
616 NW 13th St #250 Boca Raton, FL	1.0	1.0	700	$1,700	$2.43	24d	1	0.57mi
616 NW 13th St #24 Boca Raton, FL	1.0	1.0	700	$1,750	$2.50	24d	1	0.57mi
131 S Federal Hwy Boca Raton, FL	1.0–2.0	1.0–2.0	778	$3,149	$4.05	2d	12	0.62mi
683 NW 13th St Apt 27 Boca Raton, FL	2.0	2.0	995	$2,140	$2.15	24d	1	0.63mi
1314 NW 2nd Cir Boca Raton, FL	3.0	2.0	1382	$3,500	$2.53	17d	1	0.66mi
401 NE Mizner Blvd Boca Raton, FL	1.0–3.0	1.0–2.5	1109	$3,414	$3.08	2d	25	0.67mi
155 E Boca Raton Rd Boca Raton, FL	1.0–3.0	1.0–2.5	1411	$10,250	$7.26	14d	9	0.67mi
155 E Boca Raton Rd Boca Raton, FL	1.0–3.0	1.0–2.5	1411	$9,745	$6.90	2d	8	0.67mi

HOA detail condo

• Monthly dues: $789 · $9,468/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-18
   days on market $225,000 Active 5 DOM
2. 2026-06-17
   days on market $225,000 Active 4 DOM
3. 2026-06-16
   days on market $225,000 Active 3 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $225,000 Active 2 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: $3,091 · $258/mo
• Projected year-2 tax: $3,091 · $258/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 ≥106°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,002
• − Mortgage interest: −$12,603
• − Property taxes: −$3,091
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,880
• − Management: −$2,880
• − HOA: −$9,468
• − Depreciation: −$6,545
• Taxable loss: −$2,592
• Est. tax savings @ 24.0%: +$622
• After-tax cash flow: $1,220/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

+174.4% since first listed

7 events — show timeline

• 2026-06-12 Listed $225,000 Beaches MLS
• 2026-02-17 Listing Removed — Beaches MLS
• 2025-07-19 Listed $225,000 Beaches MLS
• 2008-02-28 Listing Removed — Beaches MLS
• 2007-08-29 Listed $279,900 Beaches MLS
• 2002-06-13 Sold (Public Records) $88,500 Public Records
• 1994-10-26 Sold (Public Records) $82,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $3,091 · +2.9% YoY. Source: county tax records.