4209 Royal Manor Blvd #136 · Boynton Beach, FL 33436

$149,000

2 bd · 2.0 ba · 1,230 sqft · Manufactured · 69 Days on market

Built 2018 Good condition

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

BEAUTIFUL HOME, WELL MAINTAINED, WITH 2 BEDROOMS, 2 BATHS, HURRICANE PROTECTION WINDOWS AND LARGE ENCLOSED PORCH OFFERING GREAT COMFORT AND SERENITY. THIS HOME HAS ALL THE SPACE FOR RELAXATION AND DELIGHTFUL. LOCATED IN A 55+ COMMUNITY, SEA MEADOW IS LESS THEN THREE MILES FORM THE HEART OF BOYTON BEACH. THIS COMMUNITY OFFERS A VARIETY OF AMENITIES SUCH AS CLUBHOUSE, SWIMMING POOL, FITNESS CENTER, PICKLEBALL, SHUFFLEBOARD, BILLIARD ROOM, BBQ AREA AND WALKING TRAILS FOR THE RESIDENTS. NOTHING TO DO BUT MOVE IN. LOT RENTAL IS $1,050 INCLUDING BASIC CABLE, LAWN CARE AND ALL AMENTITIES.

Key facts

• Fitness center
• Clubhouse
• Pickleball

Tags

• HURRICANE PROTECTION WINDOWS
• LARGE ENCLOSED PORCH
• CLUBHOUSE
• SWIMMING POOL
• FITNESS CENTER
• PICKLEBALL

Property features AI

Finance

• Financial info: Land lease of $1,050 monthly (lease expires 2026-04-30)
• HOA & community: Located in a senior community; Pets allowed with breed restrictions

Exterior

• Parking: Total 3 parking spaces; Attached carport (2 covered spaces); Driveway; Concrete surface; Open parking
• Utilities: Public water; Public sewer; Sewer and water available
• Home design: Manufactured home (double wide); One story; Faces west; Resale condition
• Construction: Metal siding; Vinyl siding
• Exterior features: No waterfront; Shingle roof; Skirted

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator; Electric cooktop; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Walk-in closets; Double-pane windows; Furnished
• Laundry & utility: Laundry located in carport

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $149k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $819 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $140k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 4.3% in Boynton Beach — 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 72/100 on livability (#351 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+, cost of living B; Watch: amenities D+, crime D-, commute 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: Citrus Cove Elementary School (math 47% / reading 57%, grade C-, #990 of 2,144 statewide, top 48%, 1,026 students, 59% FRL); Congress Community Middle School (math 21% / reading 28%, grade F, #522 of 571 statewide, top 93%, 988 students, 72% FRL); Boynton Beach Community High (math 13% / reading 25%, grade F, #565 of 667 statewide, top 85%, 1,547 students, 65% FRL).
• Zoned-school proficiency averages 32% at this address vs 50% district-wide (-18 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.6%/yr); 456 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 37% of the median local income ($76k/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 $1k of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($140k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 1.57% ✓
• Cap rate: 12.89%
• Cash-on-cash: 23.57%
• DSCR: 2.05
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 13.2%
• Equity multiple: 1.51×
• Total profit: $21,219
• Equity at exit: $22,216

10-year hold

• IRR: 19.7%
• Equity multiple: 2.42×
• Total profit: $59,312
• Equity at exit: $12,883

Cash invested: $41,720 (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 33436

• Home prices YoY: -26.0%
• Rents YoY: -0.6%
• Active inventory: 456
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,341 high
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,235/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $819

Break-even live

Break-even rent $1,303

Max offer price $149,000

Occupancy floor 60%

Sensitivity live

Price	-10% $922	-5% $871	+0% $819	+5% $768	+10% $716
Rent	-10% $634	-5% $727	+0% $819	+5% $912	+10% $1,004
Rate	-1.0pp $894	-0.5pp $857	base $819	+0.5pp $781	+1.0pp $742

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8949 Oak St Boynton Beach, FL	2.0	2.0	1040	$1,300	$1.25	26d	1	0.19mi
4482 King Theodore Dr Boynton Beach, FL	1.0	1.0	800	$1,795	$2.24	26d	1	0.25mi
3930 Max Pl Boynton Beach, FL	2.0	2.0	1250	$2,370	$1.90	1d	1	0.53mi
3930 Max Pl Boynton Beach, FL	1.0	1.0	925	$2,550	$2.76	23d	1	0.53mi
3736 Coelebs Ave Boynton Beach, FL	3.0	2.0	1232	$3,000	$2.44	26d	1	0.59mi
3500 Sandpiper Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	1147	$2,579	$2.25	23d	22	0.62mi
920 Sun Acres Ln Boynton Beach, FL	2.0	2.0	1352	$2,200	$1.63	26d	1	0.67mi
1515 Arezzo Cir Boynton Beach, FL	2.0	2.5	1286	$2,750	$2.14	26d	1	0.99mi
220 Savannah Lakes Dr Boynton Beach, FL	2.0	2.0	1098	$2,365	$2.15	4d	1	0.99mi
3561 Oberon Ave Boynton Beach, FL	3.0	2.0	1248	$2,850	$2.28	22d	1	1.01mi
4220 Grove Park Ln Unit 1 Boynton Beach, FL	3.0	2.0	1406	$3,600	$2.56	26d	1	1.03mi
4220 Grove Park Ln Unit 1 Boynton Beach, FL	3.0	2.0	1406	$3,400	$2.42	5d	1	1.03mi
9498 S Military Trl #5 Boynton Beach, FL	3.0	2.5	1317	$2,900	$2.20	26d	1	1.05mi
7705 Forest Green Ln Boynton Beach, FL	3.0	2.0	1379	$3,200	$2.32	26d	1	1.08mi
7705 Forest Green Ln Boynton Beach, FL	2.0	2.0	1379	$3,200	$2.32	19d	1	1.08mi
4101 Mahogany Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	950	$2,159	$2.27	1d	12	1.08mi
2303 N Congress Ave #15 Boynton Beach, FL	2.0	1.0	925	$1,950	$2.11	26d	1	1.11mi
2305 N Congress Ave #18 Boynton Beach, FL	3.0	2.0	1217	$2,600	$2.14	16d	1	1.11mi
2313 N Congress Ave #18 Boynton Beach, FL	2.0	1.0	758	$1,950	$2.57	16d	1	1.12mi
1239 Sussex St Boynton Beach, FL	3.0	2.0	1436	$3,100	$2.16	26d	1	1.13mi
1239 Sussex St Boynton Beach, FL	3.0	2.0	1436	$3,100	$2.16	21d	1	1.13mi
107 Buttonwood Ln Unit 107 Boynton Beach, FL	2.0	2.5	1264	$2,600	$2.06	26d	1	1.14mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,315	$1.93	5d	1	1.14mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,267	$1.89	23d	1	1.14mi
2307 N Congress Ave #24 Boynton Beach, FL	2.0	1.0	902	$1,700	$1.88	4d	1	1.15mi
9746 Nickels Blvd Boynton Beach, FL	2.0	2.0	1215	$2,800	$2.30	26d	1	1.17mi
2301 N Congress Ave #25 Boynton Beach, FL	2.0	1.0	758	$2,000	$2.64	26d	1	1.17mi
2317 N Congress Ave #24 Boynton Beach, FL	2.0	1.0	902	$2,300	$2.55	7d	1	1.17mi
4259 Wood Ride Unit E Boynton Beach, FL	2.0	2.0	1240	$2,350	$1.90	9d	1	1.18mi
2319 N Congress Ave #28 Boynton Beach, FL	2.0	2.0	1172	$1,945	$1.66	9d	1	1.20mi
9940 Bauhinia Tree Way Unit B Boynton Beach, FL	1.0	1.0	1200	$2,000	$1.67	26d	1	1.22mi
9940 Bauhinia Tree Way Unit B Boynton Beach, FL	1.0	1.0	1200	$1,800	$1.50	9d	1	1.22mi
9900 Pineapple Tree Dr #106 Boynton Beach, FL	2.0	2.0	1008	$2,250	$2.23	26d	1	1.25mi
4525 Nutmeg Tree Ln Unit A Boynton Beach, FL	2.0	2.0	1404	$3,000	$2.14	26d	1	1.25mi
5072 Arbor Glen Cir Lake Worth, FL	3.0	2.0	1232	$3,300	$2.68	16d	1	1.25mi
5155 Europa Dr Unit J Boynton Beach, FL	3.0	2.0	1333	$2,750	$2.06	26d	1	1.29mi
2 Renaissance Way #409 Boynton Beach, FL	1.0	1.0	817	$1,900	$2.33	0d	1	1.30mi
9935 Pineapple Tree Dr #202 Boynton Beach, FL	2.0	2.0	1008	$2,575	$2.55	16d	1	1.30mi
4408 Renaissance Way Unit 408 Boynton Beach, FL	2.0	2.0	1048	$2,350	$2.24	18d	1	1.30mi
2401 Renaissance Way Boynton Beach, FL	2.0	2.0	1048	$2,400	$2.29	26d	1	1.30mi

Listing history 15 events

1. 2026-06-21
   days on market $149,000 Active 69 DOM
2. 2026-06-18
   days on market $149,000 Active 66 DOM
3. 2026-06-17
   days on market $149,000 Active 65 DOM
4. 2026-06-16
   days on market $149,000 Active 64 DOM
5. 2026-06-15
   days on market $149,000 Active 63 DOM
6. 2026-06-13
   days on market $149,000 Active 61 DOM
7. 2026-06-09
   days on market $149,000 Active 57 DOM
8. 2026-06-08
   days on market $149,000 Active 56 DOM
9. 2026-06-07
   days on market $149,000 Active 55 DOM
10. 2026-06-04
    days on market $149,000 Active 52 DOM
11. 2026-06-03
    days on market $149,000 Active 51 DOM
12. 2026-06-02
    days on market $149,000 Active 50 DOM
13. 2026-06-01
    days on market $149,000 Active 49 DOM
14. 2026-05-31
    days on market $149,000 Active 48 DOM
15. 2026-04-13
    listed $149,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 5 d/yr ≥106°F today · 18 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: $28,088
• − Mortgage interest: −$8,346
• − Property taxes: −$2,235
• − Insurance: −$745
• − Repairs & maintenance: −$2,247
• − Management: −$2,247
• − Depreciation: −$4,335
• Taxable income: $7,933
• Est. tax owed @ 24.0%: −$1,904
• After-tax cash flow: $7,929/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained manufactured home in a 55+ community offers a serene and comfortable living space. Minor updates to lighting and decor in the kitchen and bathrooms, along with replacing worn carpet, can significantly enhance its resale and rental value.

Repairs flagged

• Minor kitchen lighting — Outdated lighting in kitchen.
• Minor bathroom lighting — Outdated lighting in bathrooms.
• Minor kitchen decor — Outdated decor in kitchen.
• Minor bathroom decor — Outdated decor in bathrooms.

Value-add opportunities

• Both Update kitchen lighting and decor — Enhances curb appeal and interior aesthetics.
• Both Update bathroom lighting and decor — Enhances curb appeal and interior aesthetics.
• Both Replace worn carpet in kitchen and bathrooms — Improves comfort and appearance, attracting more buyers/renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen lighting · Outdated lighting in kitchen.	Minor	$500–3,000
bathroom lighting · Outdated lighting in bathrooms.	Minor	$500–3,000
kitchen decor · Outdated decor in kitchen.	Minor	$500–3,000
bathroom decor · Outdated decor in bathrooms.	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Both Update kitchen lighting and decor — Enhances curb appeal and interior aesthetics. ↑
• Both Update bathroom lighting and decor — Enhances curb appeal and interior aesthetics. ↑
• Both Replace worn carpet in kitchen and bathrooms — Improves comfort and appearance, attracting more buyers/renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Boynton Beach

• Score: 72/100
• State rank: #351
• US rank: #6098

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boynton Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 148,060
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 48,743
• Household income: $75,789
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 1813.0

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 0.64)
• Race & ethnicity: White 52% Black 24% Hispanic / Latino 19% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 3% Dominican 1%
• Common ancestry: Hispanic 12% Romanian 3% Scotch-Irish 2%
• Foreign-born: 27% · Canada, Jamaica, Vietnam
• Languages at home: 64% English-only · Spanish 14% French/Haitian/Cajun 13% 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: ▼ -109.59%
• Current HPI: 311.7742
• Rent YoY: ▼ -0.57%
• 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

1 event — show timeline

• 2026-04-13 Listed $149,000 Beaches MLS