23247 Barwood Ln N #205 · Hillsboro Pines, FL 33428

$287,500

2 bd · 2.0 ba · 1,560 sqft · Condo public records · 163 Days on market

Built 1979 $627/mo HOA · 21% of rent

---

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 +10.8/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Completely remodeled and fully permitted, this secluded 2nd-floor Boca Barwood condo offers peace, privacy, and modern upgrades throughout. This building requires 5% down. Features include a brand-new kitchen with quartz countertops, new appliances, fully renovated bathrooms, new washer and dryer, new A/C, new electrical panel, and Honey Oak luxury vinyl flooring. Boca Barwood is a well-maintained 55+ community surrounded by mature landscaping and offers a clubhouse, heated pool, sauna, tennis and pickleball courts, shuffleboard, walking paths, and an active women's club. Conveniently located near shopping, dining, golf, and beaches—ideal for full-time or seasonal living.

Key facts

• $627 HOA
• Parking
• Community pool

Property features AI

Finance

• HOA & community: HOA with monthly fee; Community amenities include pool, tennis courts, pickleball courts, shuffleboard, billiard room, game room, community room, elevator(s), storage, parking, trash chute and recreation facilities; Association fee covers cable TV, insurance, grounds maintenance, pest control, trash, water, hot water, and common areas; Senior community; 216 units in the community; Pets not allowed

Exterior

• Parking: Covered carport (deeded) with 1 carport space; Guest parking available
• Security: Fire alarm; Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Resale; Faces east; 4-story building
• Construction: Concrete/CBS construction; Composition and rolled/hot mop roofs; Built as part of a multi-story building
• Exterior features: Covered patio; Screened patio; Patio; Located on a golf course; Paved road frontage (west of US-1)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central individual heating; Central individual cooling
• Interior features: Split bedroom layout; Fire alarm; Smoke detectors
• Laundry & utility: Laundry closet with washer hookup inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $288k.

Deal economics

• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $264k (8.1% below list).
• Meets the 1% rule at list price ($3k rent vs $288k).
• Recommended offer: $253k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 78/100 on livability (#173 in FL, #2,634 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A+; Watch: amenities F, 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: Hammock Pointe Elementary School (math 61% / reading 63%, grade B, #608 of 2,144 statewide, top 29%, 958 students, 42% 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 33% FRL vs 52% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 62% at this address vs 50% district-wide (+13 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: Rents rising (+3.7%/yr); 268 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 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 41% of the median local income ($89k/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 $9k 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 163 days — a 12% lower offer ($253k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $165k; list at $288k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% 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 $253,000 (12.0% 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 163 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.05% ✓
• Cap rate: 5.74%
• Cash-on-cash: -1.96%
• DSCR: 0.91
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.72% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.35×
• Total profit: $-52,365
• Equity at exit: $42,867

10-year hold

• IRR: -8.7%
• Equity multiple: 0.43×
• Total profit: $-45,646
• Equity at exit: $24,858

Cash invested: $80,500 (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 33428

• Rents YoY: 3.7%
• Active inventory: 268
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $3,027 high
• Mortgage (P&I): −$1,508
• Tax from tax record: −$268 /mo · $3,218/yr
• Insurance: −$120
• HOA: −$627
• Vacancy / Maint / Mgmt: −$636
• Net cashflow: $-131

Break-even live

Break-even rent $3,193

Max offer price $264,309

Occupancy floor 99%

Sensitivity live

Price	-10% $31	-5% $-50	+0% $-131	+5% $-213	+10% $-294
Rent	-10% $-370	-5% $-251	+0% $-131	+5% $-12	+10% $108
Rate	-1.0pp $14	-0.5pp $-58	base $-131	+0.5pp $-206	+1.0pp $-282

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: $71,875
• Closing costs: $8,625
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23305 Barwood Ln N #207 Boca Raton, FL	2.0	2.0	1300	$1,875	$1.44	9d	1	0.16mi
23305 Barwood Ln N #207 Boca Raton, FL	2.0	2.0	1300	$1,875	$1.44	26d	1	0.16mi
10222 Akenside Dr Boca Raton, FL	3.0	2.5	2131	$4,975	$2.33	26d	1	0.24mi
10199 Akenside Dr Boca Raton, FL	3.0	2.5	2020	$4,850	$2.40	9d	1	0.26mi
10106 Akenside Dr Boca Raton, FL	3.0	2.5	2131	$4,500	$2.11	0d	1	0.36mi
10111 Akenside Dr Unit 10111 Boca Raton, FL	3.0	2.5	1728	$3,600	$2.08	5d	1	0.36mi
10111 Akenside Dr Unit 10111 Boca Raton, FL	3.0	2.5	1728	$3,600	$2.08	16d	1	0.36mi
10098 Akenside Dr Boca Raton, FL	3.0	2.5	2131	$4,500	$2.11	7d	1	0.37mi
23816 SW 65th Way Boca Raton, FL	2.0	2.0	1954	$900	$0.46	7d	1	0.39mi
10110 Boca Entrada Blvd Boca Raton, FL	2.0	2.0	1155	$2,338	$2.02	4d	2	0.51mi
10110 Boca Entrada Blvd Boca Raton, FL	2.0	2.0	1155	$2,338	$2.02	5d	2	0.51mi
10112 Aqua Vista Way Boca Raton, FL	3.0	2.0	1877	$4,800	$2.56	7d	1	0.52mi
10110 Boca Entrada Blvd #305 Boca Raton, FL	2.0	2.0	1155	$2,350	$2.03	5d	1	0.52mi
22745 SW 65th Way Boca Raton, FL	3.0	2.0	1477	$3,500	$2.37	4d	1	0.57mi
5800 NW 74th Pl Coconut Creek, FL	1.0–2.0	1.0–2.0	1115	$2,564	$2.30	0d	17	0.58mi
22765 SW 66th Ave #204 Boca Raton, FL	2.0	2.0	1170	$3,000	$2.56	26d	1	0.59mi
22735 SW 66th Ave Boca Raton, FL	2.0	2.0	1170	$2,300	$1.97	7d	1	0.60mi
22682 Family Cir Unit 22682 Boca Raton, FL	3.0	2.0	1425	$3,400	$2.39	15d	1	0.64mi
23442 Lyons Rd #406 Boca Raton, FL	2.0	2.0	1218	$2,300	$1.89	26d	1	0.68mi
10669 Boca Entrada Blvd Boca Raton, FL	3.0	2.0	1083	$3,450	$3.19	26d	1	0.69mi
10267 Boca Bnd W Unit G4 Boca Raton, FL	2.0	2.0	1068	$2,850	$2.67	26d	1	0.69mi
23466 Lyons Rd #504 Boca Raton, FL	2.0	2.0	1127	$2,300	$2.04	26d	1	0.70mi
9380 SW 61st Way Unit B Boca Raton, FL	3.0	2.5	1593	$2,900	$1.82	26d	1	0.73mi
10132 Windtree Ln S Boca Raton, FL	1.0	1.0	1374	$1,450	$1.06	7d	1	0.73mi
10323 Boca Bnd W Unit K4 Boca Raton, FL	2.0	2.0	1068	$2,500	$2.34	1d	1	0.74mi
8951 SW 19th St Unit A Boca Raton, FL	2.0	2.0	1196	$2,800	$2.34	18d	1	0.74mi
9330 SW 61st Way Unit D Boca Raton, FL	2.0	2.5	1593	$2,600	$1.63	18d	1	0.76mi
9440 SW 8th St Boca Raton, FL	1.0–2.0	1.5–2.0	895	$2,400	$2.68	0d	3	0.77mi
5201 W Hillsboro Blvd Coconut Creek, FL	1.0–3.0	1.0–2.0	1072	$2,835	$2.64	0d	28	0.79mi
10234 Sleepy Brook Way Boca Raton, FL	3.0	2.0	1552	$3,500	$2.26	9d	1	0.81mi
9460 SW 61st Way Unit D Boca Raton, FL	3.0	2.5	1600	$2,900	$1.81	26d	1	0.82mi
9235 SW 8th St Boca Raton, FL	2.0	2.0	1045	$2,175	$2.08	12d	4	0.83mi
9260 Boca Vue Dr Boca Raton, FL	1.0–3.0	1.0–2.0	1052	$3,306	$3.14	0d	31	0.86mi
7374 NW 61st Ter Parkland, FL	3.0	2.5	1776	$3,750	$2.11	26d	1	0.87mi
22465 SW 61st Way #247 Boca Raton, FL	3.0	2.0	1407	$2,700	$1.92	26d	1	0.89mi
22465 SW 61st Way #247 Boca Raton, FL	3.0	2.0	1407	$2,600	$1.85	5d	1	0.89mi
23312 SW 53rd Ave Unit C Boca Raton, FL	3.0	2.5	1412	$3,100	$2.20	26d	1	0.89mi
10457 S 228th Ln Boca Raton, FL	2.0	2.0	1104	$1,900	$1.72	9d	1	0.91mi
6950 Long Pine Cir Unit 6950 Coconut Creek, FL	3.0	2.5	1449	$3,200	$2.21	16d	1	0.93mi
22800 SW 54th Way Boca Raton, FL	3.0	2.0	1554	$3,400	$2.19	18d	1	0.96mi

HOA detail condo

• Monthly dues: $627 · $7,524/yr
• Likely covers: electriclandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $287,500 Active 163 DOM
2. 2026-06-18
   days on market $287,500 Active 160 DOM
3. 2026-06-17
   days on market $287,500 Active 159 DOM
4. 2026-06-16
   days on market $287,500 Active 158 DOM
5. 2026-06-15
   days on market $287,500 Active 157 DOM
6. 2026-06-13
   pricedays on market $287,500 Active 155 DOM
7. 2026-06-09
   days on market $290,000 Active 151 DOM
8. 2026-06-07
   days on market $290,000 Active 149 DOM
9. 2026-06-04
   days on market $290,000 Active 146 DOM
10. 2026-06-03
    days on market $290,000 Active 145 DOM
11. 2026-06-01
    days on market $290,000 Active 143 DOM
12. 2026-05-31
    days on market $290,000 Active 142 DOM
13. 2026-03-30
    price $290,000
14. 2026-01-09
    listed $295,000 Active
15. 2026-01-08
    historical $295,000
16. 2024-12-30
    soldstatus $165,000
17. 1996-07-02
    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: $3,218 · $268/mo
• Projected year-2 tax: $3,218 · $268/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 · 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: $36,324
• − Mortgage interest: −$16,104
• − Property taxes: −$3,218
• − Insurance: −$1,438
• − Repairs & maintenance: −$2,906
• − Management: −$2,906
• − HOA: −$7,524
• − Depreciation: −$8,364
• Taxable loss: −$6,135
• Est. tax savings @ 24.0%: +$1,472
• After-tax cash flow: $-103/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 — Hillsboro Pines

• Score: 78/100
• State rank: #173
• US rank: #2634

Category grades

Amenities F Commute A Cost of living F Crime A+ Employment A+ Housing B- Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 47,588
• Household income: $88,543
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1990.0

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 0.69)
• Race & ethnicity: White 50% Two or more races 23% Hispanic / Latino 22% Black 7% Asian 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Estonian 12% Romanian 3% Scotch-Irish 3%
• Foreign-born: 37% · Canada, Jamaica, Vietnam
• Languages at home: 55% English-only · Spanish 19% Other Indo-European 17% 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: ▼ -299.00%
• Current HPI: 373.2649
• Rent YoY: ▲ 3.72%
• 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

+375.4% since first listed

5 events — show timeline

• 2026-03-30 Price Changed $290,000 Beaches MLS
• 2026-01-09 Listed $295,000 Beaches MLS
• 2026-01-08 Coming Soon $295,000 Beaches MLS
• 2024-12-30 Sold (Public Records) $165,000 Public Records
• 1996-07-02 Sold (Public Records) $61,000 Public Records

Property tax history

+15.1%/yr

Latest (2025): $3,218 · +415.0% YoY. Source: county tax records.