18375 104th Ter S · Boca Raton, FL 33498

$750,000

4 bd · 2.0 ba · 2,040 sqft · SingleFamily public records · 9 Days on market

Built 1983 0.30 ac lot $65/mo HOA · 1% 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 +9.1/30.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0

Listing remarks

Welcome to this meticulously maintained 3-bedroom, 2-bathroom Boca Raton home at 18375 104th Ter S. The property features a dedicated home office, offering a quiet, functional workspace without sacrificing bedroom privacy. True pride of ownership shines through the bright, airy open-concept living spaces. Step outside to your own private South Florida oasis, complete with a beautifully kept pool and a spacious screened porch & acirc; & euro; & rdquo; ideal for seamless indoor-outdoor entertaining, dining, or relaxing in comfort. Situated in a highly desirable neighborhood in West Boca Raton.

Key facts

• Roof 2018
• 0.3 acre lot
• 2 garage spots

Tags

• CONCRETE BLOCK CONSTRUCTION
• ROOF 2018
• AIR CONDITIONING 2019
• HOT WATER HEATER 2020
• ELECTRICAL PANEL REPLACED
• WINDOWS AND DOORS REPLACED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $750k.

Deal economics

• At list price, monthly cash flow is $-579 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $648k (13.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $514k (31.4% below list).
• Recommended offer: $514k (31.4% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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: Sunrise Park Elementary School (math 80% / reading 81%, grade A+, #104 of 2,144 statewide, top 5%, 1,074 students, 23% FRL); Eagles Landing Middle School (math 66% / reading 67%, grade A-, #84 of 571 statewide, top 16%, 1,508 students, 27% 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 27% FRL vs 52% district-wide (25 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 68% at this address vs 50% district-wide (+19 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: 95 active listings in the ZIP; 32 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).
• This rent runs 42% of the median local income ($147k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $40k of equity ($5k loan paydown + $35k appreciation (4.7% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$65k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $237k; list at $750k implies a 216% 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; moderate wildfire risk; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $514,472 (31.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.69% ✗
• Cap rate: 5.37%
• Cash-on-cash: -3.31%
• DSCR: 0.85
• GRM: 12.1

CMA / ARV

• ARV (on-the-fly): $493,680
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10608 180th Pl S	0.36mi	3/2.0 (-1)	1,857 (-9%)	9mo	$450,000	$242	56

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.2%
• Equity multiple: 1.58×
• Total profit: $122,038
• Equity at exit: $410,455

10-year hold

• IRR: 10.9%
• Equity multiple: 2.94×
• Total profit: $407,183
• Equity at exit: $696,633

Cash invested: $210,000 (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 33498

• Home prices YoY: 1.5%
• Active inventory: 95
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $5,145 high
• Mortgage (P&I): −$3,933
• Tax from tax record: −$333 /mo · $3,995/yr
• Insurance: −$312
• HOA: −$65
• Vacancy / Maint / Mgmt: −$1,080
• Net cashflow: $-579

Break-even live

Break-even rent $5,878

Max offer price $647,693

Occupancy floor —

Sensitivity live

Price	-10% $-155	-5% $-367	+0% $-579	+5% $-791	+10% $-1,004
Rent	-10% $-986	-5% $-782	+0% $-579	+5% $-376	+10% $-173
Rate	-1.0pp $-201	-0.5pp $-388	base $-579	+0.5pp $-773	+1.0pp $-971

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18298 102nd Way S Boca Raton, FL	4.0	2.0	1853	$6,500	$3.51	26d	1	0.19mi
10780 Cypress Lake Ter Boca Raton, FL	3.0	2.0	1450	$3,500	$2.41	9d	1	0.29mi
10781 Cypress Lake Ter Boca Raton, FL	3.0	2.0	1450	$3,800	$2.62	20d	1	0.30mi
10781 Cypress Lake Ter Boca Raton, FL	3.0	2.0	1450	$3,600	$2.48	19d	1	0.30mi
10758 Lake Jasmine Dr Boca Raton, FL	4.0	2.5	1927	$4,350	$2.26	26d	1	0.34mi
10902 Tamoron Ln Boca Raton, FL	4.0	3.0	2673	$4,800	$1.80	26d	1	0.47mi
18474 Old Princeton Ln Boca Raton, FL	4.0	2.5	2330	$4,800	$2.06	15d	1	0.55mi
9928 Moss Pond Dr Boca Raton, FL	3.0	2.5	1843	$4,500	$2.44	13d	1	0.62mi
9928 Moss Pond Dr Unit 9928 Boca Raton, FL	3.0	2.5	1843	$4,500	$2.44	16d	1	0.62mi
9928 Moss Pond Dr Boca Raton, FL	3.0	2.5	1843	$4,500	$2.44	26d	1	0.62mi
18280 Coral Isles Dr Unit 18280 Boca Raton, FL	4.0	2.5	2728	$5,500	$2.02	5d	1	0.67mi
18280 Coral Isles Dr Boca Raton, FL	4.0	2.5	2728	$5,500	$2.02	26d	1	0.67mi
9841 Ridgecreek Rd Boca Raton, FL	3.0	2.0	1435	$4,500	$3.14	26d	1	0.70mi
10766 Crescendo Cir Unit X Boca Raton, FL	3.0	2.5	2223	$4,500	$2.02	26d	1	0.75mi
18965 Adagio Dr Boca Raton, FL	3.0	2.0	1795	$5,250	$2.92	26d	1	0.82mi
9585 Affirmed Ln Boca Raton, FL	4.0	2.0	1756	$3,950	$2.25	7d	1	0.83mi
9590 Islamorada Ter Boca Raton, FL	4.0	2.5	2064	$5,000	$2.42	23d	1	0.96mi
9636 Tavernier Dr Boca Raton, FL	3.0	2.0	1820	$4,200	$2.31	26d	1	0.98mi
21461 Sawmill Ct Boca Raton, FL	4.0	2.5	2107	$4,100	$1.95	26d	1	1.01mi
9392 Affirmed Ln Boca Raton, FL	3.0	2.0	1635	$3,200	$1.96	16d	1	1.03mi
9940 Liberty Rd Boca Raton, FL	4.0	2.0	1674	$5,500	$3.29	26d	1	1.07mi
9505 Aegean Dr Boca Raton, FL	4.0	2.5	2133	$4,200	$1.97	9d	1	1.11mi
19356 Cherry Hills Ter Boca Raton, FL	3.0	2.0	2150	$4,000	$1.86	26d	1	1.12mi
19323 Carolina Cir Boca Raton, FL	4.0	2.0	2300	$4,150	$1.80	14d	1	1.19mi
19323 Carolina Cir Boca Raton, FL	4.0	2.0	2301	$3,955	$1.72	1d	1	1.19mi
9203 Boca Gardens Cir S Unit D Boca Raton, FL	3.0	2.5	2088	$3,300	$1.58	26d	1	1.28mi
9718 Lancaster Pl Boca Raton, FL	3.0	2.0	1773	$4,400	$2.48	26d	1	1.28mi
9190 Boca Gardens Pkwy Unit B Boca Raton, FL	3.0	2.5	1845	$3,500	$1.90	26d	1	1.28mi
9680 Lancaster Pl Boca Raton, FL	3.0	2.0	1504	$4,850	$3.22	26d	1	1.31mi
19084 Skyridge Cir Boca Raton, FL	4.0	3.0	2700	$5,700	$2.11	9d	1	1.39mi
9387 Richmond Cir Boca Raton, FL	3.0	2.0	1849	$4,100	$2.22	12d	1	1.40mi
9387 Richmond Cir Boca Raton, FL	3.0	2.0	1849	$4,100	$2.22	1d	1	1.40mi

HOA detail

• Monthly dues: $65 · $780/yr
• Likely covers: pool

Listing history 8 events

1. 2026-06-17
   status $750,000 Pending 9 DOM
2. 2026-06-17
   days on market $750,000 Active 9 DOM
3. 2026-06-16
   days on market $750,000 Active 8 DOM
4. 2026-06-15
   days on market $750,000 Active 7 DOM
5. 2026-06-13
   days on market $750,000 Active 5 DOM
6. 2026-06-08
   days on marketlisting id $750,000 Active 1 DOM
7. 2026-06-07
   remarks 598-char remark
8. 2026-06-07
   listed $750,000 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: $3,995 · $333/mo
• Projected year-2 tax: $6,225 · $519/mo
• Expected delta: +$2,230/yr (+$186/mo · 55.8%)

ⓘ 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 5/10 Major
• 🌡 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: $61,737
• − Mortgage interest: −$42,012
• − Property taxes: −$3,995
• − Insurance: −$3,750
• − Repairs & maintenance: −$4,939
• − Management: −$4,939
• − HOA: −$780
• − Depreciation: −$21,818
• Taxable loss: −$20,496
• Est. tax savings @ 24.0%: +$4,919
• After-tax cash flow: $-2,031/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): 16,853
• Household income: $146,765
• Rent vs Own: 5.3% rent · 94.7% own
• Severe rent burden: 65.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 20% Two or more races 16% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 2% Cuban 6%
• Common ancestry: Romanian 17% Scotch-Irish 6% Italian 3%
• Foreign-born: 28% · Canada, Dominican Republic, China
• Languages at home: 72% English-only · Spanish 12% Other Indo-European 6% Russian/Polish/Slavic 5%

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: ▲ 4.68%
• Current HPI: 325.4026
• Rent YoY: —
• 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

+538.3% since first listed

5 events — show timeline

• 2026-06-06 Listed $750,000 FSBO.com
• 2002-04-12 Sold (Public Records) $237,000 Public Records
• 1991-05-20 Sold (Public Records) $142,800 Public Records
• 1988-07-18 Sold (Public Records) $172,000 Public Records
• 1983-05-01 Sold (Public Records) $117,500 Public Records

Property tax history

+0.6%/yr

Latest (2025): $3,995 · +3.2% YoY. Source: county tax records.