23247 N Barwood Ln Ln N #305 · Hillsboro Pines, FL 33428

$240,000

2 bd · 2.0 ba · 1,444 sqft · Condo public records · 51 Days on market

Built 1979 $627/mo HOA · 25% 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 +11.4/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• DSCR +3.4/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully renovated 2BR/2BA condo in Boca Raton's 55+ Barwood community. This building requires 5% down. This spacious 3rd-floor unit features durable vinyl plank flooring, a modern kitchen with stone-look countertops, white cabinetry, and appliances. The living and dining areas connect to a screened balcony with peaceful green views. The oversized primary suite includes a walk-in closet and an updated bath with a step-in shower. The guest bedroom is ideal for visitors or a home office. Additional highlights include in-unit laundry, assigned covered parking, a community pool, clubhouse, tennis courts, and walking paths. Located close to shopping, dining, and major roads. Move-in ready!

Key facts

• Renovated condo
• Screened balcony
• In-unit laundry

Tags

• RENOVATED CONDO
• MODERN KITCHEN
• SCREENED BALCONY
• OVERSIZED PRIMARY SUITE
• IN-UNIT LAUNDRY
• ASSIGNED COVERED PARKING

Property features AI

Finance

• Other: Property is in a senior community; Pets not allowed
• HOA & community: Association: Boca Barwood Condo IV (monthly HOA fee); Association amenities include clubhouse, pool, elevator(s), shuffleboard court and library; HOA fee covers cable TV, pest control, trash, elevator and hot water; Secondary association listed as BCIA (monthly)

Exterior

• Parking: Covered detached carport; 1 carport space (covered)
• Utilities: Public water; Public sewer; Cable available; Water available
• Home design: Condominium; Resale property; Faces southeast; 4-story building
• Construction: Stucco and CBS construction; Composition and rolled/hot mop roof
• Exterior features: No waterfront; no waterfront features listed; Pool; Shuffleboard court; Clubhouse; Library; Elevator(s)

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: No additional interior features listed; Blinds on windows
• Laundry & utility: Laundry closet inside unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $240k.

Deal economics

• At list price, monthly cash flow is $-81 ($-978/yr) — negative.
• To cash-flow at today's rent, offer at most $226k (6.0% below list).
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $226k (6.0% below list) — sets the bar for cash-flow.

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 at typical pace (median 16d 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 ($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 $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

• It's been on market 51 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y 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 $144k; list at $240k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% 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 $225,603 (6.0% 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 51 days. Have you received any prior offers? Is the seller open to a 6% 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. 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: 1.05% ✓
• Cap rate: 5.89%
• Cash-on-cash: -1.46%
• DSCR: 0.94
• GRM: 8.0

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: -17.5%
• Equity multiple: 0.38×
• Total profit: $-41,964
• Equity at exit: $35,785

10-year hold

• IRR: -7.8%
• Equity multiple: 0.49×
• Total profit: $-34,438
• Equity at exit: $20,751

Cash invested: $67,200 (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: 8.0×

Monthly cashflow live

• Estimated rent: $2,509 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$78 /mo · $934/yr
• Insurance: −$100
• HOA: −$627
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $-81

Break-even live

Break-even rent $2,612

Max offer price $225,603

Occupancy floor 98%

Sensitivity live

Price	-10% $54	-5% $-14	+0% $-81	+5% $-149	+10% $-217
Rent	-10% $-280	-5% $-181	+0% $-81	+5% $18	+10% $117
Rate	-1.0pp $39	-0.5pp $-20	base $-81	+0.5pp $-144	+1.0pp $-207

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9503 Boca Cove Cir #603 Boca Raton, FL	2.0	2.0	912	$2,200	$2.41	24d	1	0.14mi
23305 Barwood Ln N #207 Boca Raton, FL	2.0	2.0	1300	$1,875	$1.44	26d	1	0.16mi
23305 Barwood Ln N #207 Boca Raton, FL	2.0	2.0	1300	$1,875	$1.44	9d	1	0.16mi
9780 Marina Blvd #415 Boca Raton, FL	2.0	2.0	955	$2,000	$2.09	26d	1	0.18mi
1620 SW 64th Way Unit H Boca Raton, FL	2.0	2.0	1008	$2,250	$2.23	26d	1	0.19mi
9826 Marina Blvd #1027 Boca Raton, FL	2.0	2.0	955	$2,500	$2.62	26d	1	0.21mi
10111 Akenside Dr Unit 10111 Boca Raton, FL	3.0	2.5	1728	$3,600	$2.08	16d	1	0.36mi
10111 Akenside Dr Unit 10111 Boca Raton, FL	3.0	2.5	1728	$3,600	$2.08	5d	1	0.36mi
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
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
9355 SW 8th St Boca Raton, FL	1.0–2.0	1.5–2.0	780	$1,975	$2.53	3d	4	0.60mi
9993 Three Lakes Cir Boca Raton, FL	3.0	2.0	972	$2,600	$2.67	15d	1	0.64mi
22682 Family Cir Unit 22682 Boca Raton, FL	3.0	2.0	1425	$3,400	$2.39	15d	1	0.64mi
9973 Three Lakes Cir Boca Raton, FL	2.0	2.0	1026	$2,500	$2.44	26d	1	0.66mi
9273 SW 8th St Boca Raton, FL	1.0–2.0	1.5–2.0	878	$2,200	$2.51	4d	3	0.66mi
23398 Lyons Rd #309 Boca Raton, FL	2.0	2.0	988	$2,200	$2.23	15d	1	0.68mi
23398 SW 57th Ave Boca Raton, FL	2.0	2.0	988	$2,150	$2.18	6d	2	0.68mi
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
9370 SW 8th St #107 Boca Raton, FL	2.0	2.0	900	$2,150	$2.39	16d	1	0.70mi
9370 SW 8th St #107 Boca Raton, FL	2.0	2.0	900	$2,100	$2.33	7d	1	0.70mi
23466 Lyons Rd #504 Boca Raton, FL	2.0	2.0	1127	$2,300	$2.04	26d	1	0.70mi
9921 Three Lakes Cir Unit 9921 Boca Raton, FL	3.0	2.0	967	$2,700	$2.79	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
22605 SW 66th Ave #403 Boca Raton, FL	2.0	2.0	1030	$2,100	$2.04	26d	1	0.74mi
22605 SW 66th Ave #206 Boca Raton, FL	1.0	1.5	960	$1,650	$1.72	7d	1	0.74mi
9233 SW 8th St #110 Boca Raton, FL	2.0	2.0	979	$1,800	$1.84	9d	1	0.75mi
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

HOA detail condo

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

Listing history 38 events

1. 2026-06-21
   days on market $240,000 Active 51 DOM
2. 2026-06-18
   days on market $240,000 Active 48 DOM
3. 2026-06-17
   days on market $240,000 Active 47 DOM
4. 2026-06-16
   days on market $240,000 Active 46 DOM
5. 2026-06-15
   days on market $240,000 Active 45 DOM
6. 2026-06-13
   pricedays on market $240,000 Active 43 DOM
7. 2026-06-09
   days on market $250,000 Active 39 DOM
8. 2026-06-08
   days on market $250,000 Active 38 DOM
9. 2026-06-07
   days on market $250,000 Active 37 DOM
10. 2026-06-04
    days on market $250,000 Active 34 DOM
11. 2026-06-03
    days on market $250,000 Active 33 DOM
12. 2026-06-02
    days on market $250,000 Active 32 DOM
13. 2026-06-01
    days on market $250,000 Active 31 DOM
14. 2026-05-31
    days on market $250,000 Active 30 DOM
15. 2026-05-01
    listed $250,000 Active
16. 2026-04-13
    status Active
17. 2026-03-29
    historical Active Under Contract
18. 2026-03-29
    historical
19. 2026-03-26
    listed $250,000 Active
20. 2026-01-01
    historical
21. 2025-11-26
    price $250,000
22. 2025-10-27
    price $240,000
23. 2025-10-07
    price $215,000
24. 2025-09-20
    price $225,000
25. 2025-07-09
    price $232,000
26. 2025-06-17
    price $243,000
27. 2025-05-23
    listed $250,000 Active
28. 2025-03-31
    historical
29. 2025-02-19
    price $259,000
30. 2024-12-07
    price $269,000
31. 2024-10-30
    price $275,000
32. 2024-10-03
    listed $285,000 Active
33. 2021-05-04
    soldstatus $144,000
34. 2021-04-28
    soldstatus $144,000 Closed
35. 2021-03-29
    historical Active Under Contract
36. 2021-03-16
    listed $149,750 Active
37. 2004-11-18
    soldstatus $125,000
38. 1996-03-12
    soldstatus $63,000

ⓘ 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: $934 · $78/mo
• Projected year-2 tax: $1,992 · $166/mo
• Expected delta: +$1,058/yr (+$88/mo · 113.2%)

ⓘ 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: $30,106
• − Mortgage interest: −$13,444
• − Property taxes: −$934
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,408
• − Management: −$2,408
• − HOA: −$7,524
• − Depreciation: −$6,982
• Taxable loss: −$4,795
• Est. tax savings @ 24.0%: +$1,151
• After-tax cash flow: $173/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

+296.8% since first listed

24 events — show timeline

• 2026-05-01 Listed $250,000 Beaches MLS
• 2026-04-13 Relisted — Beaches MLS
• 2026-03-29 Contingent — Beaches MLS
• 2026-03-29 Listing Removed — Beaches MLS
• 2026-03-26 Listed $250,000 Beaches MLS
• 2026-01-01 Listing Removed — Beaches MLS
• 2025-11-26 Price Changed $250,000 Beaches MLS
• 2025-10-27 Price Changed $240,000 Beaches MLS
• 2025-10-07 Price Changed $215,000 Beaches MLS
• 2025-09-20 Price Changed $225,000 Beaches MLS
• 2025-07-09 Price Changed $232,000 Beaches MLS
• 2025-06-17 Price Changed $243,000 Beaches MLS
• 2025-05-23 Listed $250,000 Beaches MLS
• 2025-03-31 Listing Removed — Beaches MLS
• 2025-02-19 Price Changed $259,000 Beaches MLS
• 2024-12-07 Price Changed $269,000 Beaches MLS
• 2024-10-30 Price Changed $275,000 Beaches MLS
• 2024-10-03 Listed $285,000 Beaches MLS
• 2021-05-04 Sold (Public Records) $144,000 Public Records
• 2021-04-28 Sold (MLS) $144,000 Beaches MLS
• 2021-03-29 Contingent — Beaches MLS
• 2021-03-16 Listed $149,750 Beaches MLS
• 2004-11-18 Sold (Public Records) $125,000 Public Records
• 1996-03-12 Sold (Public Records) $63,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $934 · +4.4% YoY. Source: county tax records.