10187 Mangrove Dr #201 · Golf, FL 33437

$249,000

2 bd · 2.0 ba · 1,252 sqft · Condo public records · 2 Days on market

Built 1982 $918/mo HOA · 34% 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).

• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• 1% rule +6.0/10.0
• Appreciation +4.9/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0

Listing remarks MLS

Recently remodeled 2-bedroom, 2-bathroom condo in an active adult community. Beautifully upgraded kitchen with granite countertops, white shaker cabinets, pantry, white subway tile backsplash, and stainless steel appliances. Washer and dryer in unit! Brand new grey flooring throughout the condo. Spacious walk-in closet in the master bedroom. Guest bedroom with an updated ensuite bathroom and a walk-in closet.

Key facts

• Pantry storage
• Updated kitchen
• Granite countertops

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• WHITE SHAKER CABINETS
• PANTRY STORAGE
• SUBWAY TILE BACKSPLASH
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Other: Pets allowed with restrictions or possible restrictions (conditional)
• HOA & community: Monthly association fee of $918; HOA covers amenities, common areas, cable TV, insurance, legal/accounting, structure maintenance, pest control, security, trash, and water; Trash service provided; Senior community

Exterior

• Parking: Assigned parking; 2 covered spaces; 2-car garage
• Utilities: Cable available
• Home design: Attached property; 2 stories; Entry located on level 2; Updated/remodeled
• Construction: Resale property
• Exterior features: Balcony; Screened balcony/porch

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First-floor entry; Main living area on entry level; Living/dining room; Separate shower; Walk-in closet(s)
• Laundry & utility: Laundry/utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $249k.

Deal economics

• At list price, monthly cash flow is $-325 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (23.0% below list).
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $192k (23.0% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 63/100 on livability (#703 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute 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.
• Market conditions: Rents rising (+1.3%/yr); 479 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 41% of the median local income ($81k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $1k of equity ($2k loan paydown + $-602 appreciation (-0.2% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 26y 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.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 2→9/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $191,670 (23.0% 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. 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. 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 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: 1.10% ✓
• Cap rate: 4.73%
• Cash-on-cash: -5.59%
• DSCR: 0.75
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.24% appreciation · 1.28% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.50×
• Total profit: $-34,906
• Equity at exit: $69,307

10-year hold

• IRR: -6.5%
• Equity multiple: 0.37×
• Total profit: $-43,842
• Equity at exit: $80,957

Cash invested: $69,720 (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 33437

• Home prices YoY: -0.1%
• Rents YoY: 1.3%
• Active inventory: 479
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,731 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$155 /mo · $1,854/yr
• Insurance: −$104
• HOA: −$918
• Vacancy / Maint / Mgmt: −$574
• Net cashflow: $-325

Break-even live

Break-even rent $3,142

Max offer price $191,670

Occupancy floor —

Sensitivity live

Price	-10% $-184	-5% $-254	+0% $-325	+5% $-395	+10% $-465
Rent	-10% $-540	-5% $-432	+0% $-325	+5% $-217	+10% $-109
Rate	-1.0pp $-199	-0.5pp $-261	base $-325	+0.5pp $-389	+1.0pp $-455

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10187 Mangrove Dr #104 Boynton Beach, FL	2.0	2.0	1260	$2,350	$1.87	25d	1	0.03mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$2,950	$2.35	2d	1	0.14mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$3,000	$2.39	25d	1	0.14mi
5217 Cedar Lake Rd Boynton Beach, FL	1.0–3.0	1.0–2.0	1030	$2,266	$2.20	2d	51	0.24mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,311	$2.27	0d	19	0.32mi
10592 Tropic Palm Ave #202 Boynton Beach, FL	2.0	2.0	1385	$2,450	$1.77	25d	1	0.34mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,394	$2.39	3d	1	0.36mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,346	$2.34	14d	1	0.36mi
10624 Tropic Palm Ave #202 Boynton Beach, FL	3.0	2.0	1385	$2,550	$1.84	25d	1	0.37mi
4944 Equestrian Cir Unit A Boynton Beach, FL	2.0	2.0	1400	$2,500	$1.79	8d	1	0.48mi
5133 Brisata Cir Unit P Boynton Beach, FL	3.0	2.0	1374	$2,800	$2.04	25d	1	0.50mi
5418 Firenze Dr Unit P Boynton Beach, FL	2.0	2.0	1139	$2,400	$2.11	3d	1	0.51mi
5895 Autumn Lake Ln Unit A Boynton Beach, FL	3.0	2.0	1469	$2,600	$1.77	25d	1	0.52mi
10596 Sunset Isles Ct Boynton Beach, FL	3.0	2.0	1769	$4,500	$2.54	25d	1	0.54mi
5157 Floria Way Unit J Boynton Beach, FL	3.0	2.0	1447	$3,300	$2.28	25d	1	0.56mi
6037 Rossmoor Lakes Ct Boynton Beach, FL	3.0	2.0	1617	$4,700	$2.91	25d	1	0.60mi
5275 Europa Dr Unit I Boynton Beach, FL	3.0	2.0	1282	$2,500	$1.95	2d	1	0.61mi
4907 Boxwood Cir Boynton Beach, FL	3.0	2.0	1731	$2,900	$1.68	25d	1	0.66mi
10921 Royal Caribbean Cir Boynton Beach, FL	3.0	2.0	1762	$3,800	$2.16	4d	1	0.66mi
10921 Royal Caribbean Cir Boynton Beach, FL	3.0	2.0	1782	$3,800	$2.13	25d	1	0.66mi
5299 Europa Dr Unit P Boynton Beach, FL	3.0	2.0	1606	$3,000	$1.87	14d	1	0.68mi
5155 Europa Dr Unit J Boynton Beach, FL	3.0	2.0	1333	$2,750	$2.06	25d	1	0.70mi
5234 Europa Dr Unit A Boynton Beach, FL	3.0	2.0	1578	$2,500	$1.58	20d	1	0.72mi
9935 Pineapple Tree Dr #202 Boynton Beach, FL	2.0	2.0	1008	$2,575	$2.55	15d	1	0.75mi
5373 Mirror Lakes Blvd Boynton Beach, FL	3.0	2.0	1310	$2,100	$1.60	25d	1	0.82mi
9900 Pineapple Tree Dr #106 Boynton Beach, FL	2.0	2.0	1008	$2,250	$2.23	25d	1	0.82mi
11115 Oakdale Rd Boynton Beach, FL	3.0	2.0	1713	$4,200	$2.45	25d	1	0.84mi
9926 Watermill Cir Unit F Boynton Beach, FL	3.0	2.0	1471	$2,400	$1.63	25d	1	0.89mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	8d	1	0.89mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	21d	1	0.89mi
9498 S Military Trl #5 Boynton Beach, FL	3.0	2.5	1317	$2,900	$2.20	25d	1	0.92mi
10390 Utopia Cir E Unit E Boynton Beach, FL	3.0	2.0	1845	$4,200	$2.28	3d	1	0.92mi
10390 Utopia Cir E Unit 10390 Boynton Beach, FL	3.0	2.0	1845	$4,200	$2.28	25d	1	0.92mi
6165 Country Fair Cir Boynton Beach, FL	3.0	2.5	1656	$3,200	$1.93	25d	1	0.95mi
4525 Nutmeg Tree Ln Unit A Boynton Beach, FL	2.0	2.0	1404	$3,000	$2.14	25d	1	1.00mi
9940 Bauhinia Tree Way Unit B Boynton Beach, FL	1.0	1.0	1200	$1,800	$1.50	8d	1	1.00mi
9940 Bauhinia Tree Way Unit B Boynton Beach, FL	1.0	1.0	1200	$2,000	$1.67	25d	1	1.00mi
11234 Green Lake Dr #102 Boynton Beach, FL	2.0	2.0	1196	$2,200	$1.84	25d	1	1.01mi
6396 Park Lake Cir Boynton Beach, FL	3.0	2.5	1422	$2,950	$2.07	15d	1	1.03mi
11230 Green Lake Dr #204 Boynton Beach, FL	3.0	2.0	1549	$3,000	$1.94	12d	1	1.03mi

HOA detail condo

• Monthly dues: $918 · $11,016/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $249,000 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   pricedays on marketlisting id $249,000 Active 1 DOM
4. 2026-06-01
   days on market $259,000 Active 182 DOM
5. 2026-05-31
   days on market $259,000 Active 181 DOM
6. 2025-12-01
   listed $259,000 Active
7. 2023-12-11
   soldstatus $229,000
8. 2023-11-29
   soldstatus $229,000 Closed 416-char remark

   Show marketing remark (416 chars)

   Recently remodeled 2-bedroom, 2-bathroom condo in an active adult community. Beautifully upgraded kitchen with granite countertops, white shaker cabinets, pantry, white subway tile backsplash, and stainless steel appliances. Washer and dryer in unit! Brand new grey flooring throughout the condo. Spacious walk-in closet in the master bedroom. Guest bedroom with an updated ensuite bathroom and a walk-in closet.

9. 2023-10-25
   historical Active Under Contract 416-char remark

   Show marketing remark (416 chars)

   Recently remodeled 2-bedroom, 2-bathroom condo in an active adult community. Beautifully upgraded kitchen with granite countertops, white shaker cabinets, pantry, white subway tile backsplash, and stainless steel appliances. Washer and dryer in unit! Brand new grey flooring throughout the condo. Spacious walk-in closet in the master bedroom. Guest bedroom with an updated ensuite bathroom and a walk-in closet.

10. 2023-10-11
    price $229,000 416-char remark

    Show marketing remark (416 chars)

    Recently remodeled 2-bedroom, 2-bathroom condo in an active adult community. Beautifully upgraded kitchen with granite countertops, white shaker cabinets, pantry, white subway tile backsplash, and stainless steel appliances. Washer and dryer in unit! Brand new grey flooring throughout the condo. Spacious walk-in closet in the master bedroom. Guest bedroom with an updated ensuite bathroom and a walk-in closet.

11. 2023-09-21
    price $255,000 416-char remark

    Show marketing remark (416 chars)

    Recently remodeled 2-bedroom, 2-bathroom condo in an active adult community. Beautifully upgraded kitchen with granite countertops, white shaker cabinets, pantry, white subway tile backsplash, and stainless steel appliances. Washer and dryer in unit! Brand new grey flooring throughout the condo. Spacious walk-in closet in the master bedroom. Guest bedroom with an updated ensuite bathroom and a walk-in closet.

12. 2023-09-18
    price $265,000 416-char remark

    Show marketing remark (416 chars)

    Recently remodeled 2-bedroom, 2-bathroom condo in an active adult community. Beautifully upgraded kitchen with granite countertops, white shaker cabinets, pantry, white subway tile backsplash, and stainless steel appliances. Washer and dryer in unit! Brand new grey flooring throughout the condo. Spacious walk-in closet in the master bedroom. Guest bedroom with an updated ensuite bathroom and a walk-in closet.

13. 2023-09-16
    price $279,000 416-char remark

    Show marketing remark (416 chars)

    Recently remodeled 2-bedroom, 2-bathroom condo in an active adult community. Beautifully upgraded kitchen with granite countertops, white shaker cabinets, pantry, white subway tile backsplash, and stainless steel appliances. Washer and dryer in unit! Brand new grey flooring throughout the condo. Spacious walk-in closet in the master bedroom. Guest bedroom with an updated ensuite bathroom and a walk-in closet.

14. 2023-09-11
    listed $299,000 Active 416-char remark

    Show marketing remark (416 chars)

    Recently remodeled 2-bedroom, 2-bathroom condo in an active adult community. Beautifully upgraded kitchen with granite countertops, white shaker cabinets, pantry, white subway tile backsplash, and stainless steel appliances. Washer and dryer in unit! Brand new grey flooring throughout the condo. Spacious walk-in closet in the master bedroom. Guest bedroom with an updated ensuite bathroom and a walk-in closet.

15. 2023-03-09
    historical
16. 2023-03-02
    listed $275,000 Active
17. 2023-03-01
    historical
18. 2008-10-19
    historical
19. 2008-04-19
    listed $175,000
20. 2000-11-21
    soldstatus $66,500
21. 2000-10-17
    soldstatus $66,500
22. 2000-08-23
    historical
23. 2000-05-03
    listed $73,900
24. 1990-06-19
    soldstatus $70,000

ⓘ 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: $1,854 · $155/mo
• Projected year-2 tax: $2,067 · $172/mo
• Expected delta: +$213/yr (+$18/mo · 11.5%)

ⓘ 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 8/10 Severe 2 d/yr ≥106°F today · 9 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: $32,772
• − Mortgage interest: −$13,948
• − Property taxes: −$1,854
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,622
• − Management: −$2,622
• − HOA: −$11,016
• − Depreciation: −$7,244
• Taxable loss: −$7,778
• Est. tax savings @ 24.0%: +$1,867
• After-tax cash flow: $-2,028/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 — Golf

• Score: 63/100
• State rank: #703
• US rank: #14941

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing A+ Health & safety F 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): 37,229
• Household income: $80,710
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 902.0

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% Two or more races 13% Hispanic / Latino 12% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1% Dominican 1%
• Common ancestry: Scotch-Irish 8% Romanian 8% Hispanic 6%
• Foreign-born: 18% · Canada, Jamaica, Vietnam
• Languages at home: 78% English-only · Spanish 10% French/Haitian/Cajun 6% 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: ▼ -0.24%
• Current HPI: 257.5891
• Rent YoY: ▲ 1.28%
• 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

+270.0% since first listed

19 events — show timeline

• 2025-12-01 Listed $259,000 MARMLS
• 2023-12-11 Sold (Public Records) $229,000 Public Records
• 2023-11-29 Sold (MLS) $229,000 Beaches MLS
• 2023-10-25 Contingent — Beaches MLS
• 2023-10-11 Price Changed $229,000 Beaches MLS
• 2023-09-21 Price Changed $255,000 Beaches MLS
• 2023-09-18 Price Changed $265,000 Beaches MLS
• 2023-09-16 Price Changed $279,000 Beaches MLS
• 2023-09-11 Listed $299,000 Beaches MLS
• 2023-03-09 Listing Removed — Beaches MLS
• 2023-03-02 Listed $275,000 Beaches MLS
• 2023-03-01 Coming Soon — Beaches MLS
• 2008-10-19 Listing Removed — Beaches MLS
• 2008-04-19 Listed $175,000 Beaches MLS
• 2000-11-21 Sold (Public Records) $66,500 Public Records
• 2000-10-17 Sold (MLS) $66,500 Beaches MLS
• 2000-08-23 Listing Removed — Beaches MLS
• 2000-05-03 Listed $73,900 Beaches MLS
• 1990-06-19 Sold (Public Records) $70,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $1,854 · +3.6% YoY. Source: county tax records.