2540 Boundbrook Blvd #205 · Palm Springs, FL 33406

$114,000

2 bd · 1.5 ba · 920 sqft · Condo public records · 6 Days on market

Built 1970 $500/mo HOA · 25% of rent

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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 +28.6/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Boundbrook Condominiums! This bright and well-maintained second-floor condo offers 2 bedrooms, 1.5 bathrooms, and approximately 920 square feet of comfortable living space. Featuring an open living and dining area, abundant natural light, and a functional floor plan, this residence is perfect for year-round living or a seasonal retreat. Enjoy relaxing views from the balcony and the convenience of in-unit laundry. Located in the desirable 55+ Boundbrook community, residents enjoy amenities including a clubhouse, community pool, and beautifully maintained grounds. Conveniently situated near shopping, dining, major highways, Palm Beach International Airport, and South Florida's beau

Key facts

• Clubhouse
• Community pool
• Balcony views

Tags

• OPEN LIVING AND DINING AREA
• ABUNDANT NATURAL LIGHT
• BALCONY VIEWS
• IN-UNIT LAUNDRY
• CLUBHOUSE
• COMMUNITY POOL

Property features AI

Finance

• Other: Pets allowed with possible restrictions (cats only noted); Located in a senior community
• HOA & community: HOA with on-site manager; Monthly association fee (listed) includes cable TV, grounds maintenance, pest control, trash, common areas, and common real estate tax; Community amenities: pool, game room, community room, library, sidewalks, street lights, management

Exterior

• Parking: Two assigned parking spaces; Guest parking available
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Water and sewer available
• Home design: Condominium; Two-story building; Resale property; Faces west
• Construction: CBS construction; Barrel, composition and rolled/hot mop roofs; Built as part of condominium (resale)
• Exterior features: Open and screened patio; Open and screened porch

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Two bedrooms on main level
• Flooring: Carpet; Laminate; Tile; Wood
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Cathedral ceilings; High ceilings; Vaulted ceilings; Stacked bedroom layout
• Laundry & utility: Washer hookup inside

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $114k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).

Location & tenants

• Location reads 73/100 on livability (#297 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D+, amenities F, 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: Meadow Park Elementary School (math 64% / reading 73%, grade B+, #409 of 2,144 statewide, top 20%, 809 students, 65% FRL); Forest Hill Community High School (math 20% / reading 41%, grade F, #434 of 667 statewide, top 66%, 2,407 students, 66% FRL).
• Market conditions: Rents flat; 100 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 31% of the median local income ($77k/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 $788 of loan paydown is wiped out by about $3k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 26y ago; this cycle's ask is 7500% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $68k; list at $114k implies a 68% 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 $114,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.73% ✓
• Cap rate: 10.26%
• Cash-on-cash: 14.17%
• DSCR: 1.63
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.68% rent growth · sell at horizon

5-year hold

• IRR: 1.1%
• Equity multiple: 1.04×
• Total profit: $1,305
• Equity at exit: $16,998

10-year hold

• IRR: 7.5%
• Equity multiple: 1.49×
• Total profit: $15,516
• Equity at exit: $9,857

Cash invested: $31,920 (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 33406

• Rents YoY: 0.7%
• Active inventory: 100
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,974 high
• Mortgage (P&I): −$598
• Tax from tax record: −$37 /mo · $449/yr
• Insurance: −$48
• HOA: −$500
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $377

Break-even live

Break-even rent $1,497

Max offer price $114,000

Occupancy floor 76%

Sensitivity live

Price	-10% $442	-5% $409	+0% $377	+5% $345	+10% $312
Rent	-10% $221	-5% $299	+0% $377	+5% $455	+10% $533
Rate	-1.0pp $434	-0.5pp $406	base $377	+0.5pp $347	+1.0pp $317

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	16d	1	0.20mi
2581 Garden Dr N #203 Lake Worth, FL	2.0	2.0	894	$1,650	$1.85	9d	1	0.20mi
2791 S Florida Mango Rd Lake Worth, FL	2.0	2.0	1100	$1,995	$1.81	22d	1	0.21mi
2721 Garden Dr N #105 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	22d	1	0.26mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	5d	1	0.28mi
2668 Garden Dr N #312 Lake Worth, FL	2.0	2.0	1080	$1,500	$1.39	3d	1	0.28mi
2566 Garden Dr S Lake Worth Beach, FL	1.0	1.0	744	$1,395	$1.88	25d	1	0.38mi
2724 Garden Dr S #207 Lake Worth, FL	1.0	1.0	744	$1,850	$2.49	0d	1	0.42mi
2856 Garden Dr S #112 Lake Worth, FL	2.0	1.0	894	$1,800	$2.01	25d	1	0.48mi
1755 Forest Hill Blvd Lake Clarke Shores, FL	1.0	1.0	662	$1,595	$2.41	9d	1	0.60mi
1742 W Terrace Dr Lake Worth Beach, FL	2.0	1.5	1000	$2,700	$2.70	25d	1	0.64mi
100 Rex Ave Palm Springs, FL	2.0	2.0	1000	$1,850	$1.85	25d	3	0.66mi
2508 10th Ave N Lake Worth Beach, FL	3.0	2.0	1025	$2,557	$2.49	25d	1	0.71mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,746	$2.18	15d	1	0.71mi
2508 10th Ave N Lake Worth Beach, FL	2.0	1.0	800	$1,672	$2.09	12d	1	0.71mi
910 Rudolf Rd Lake Worth, FL	3.0	1.0	1000	$2,500	$2.50	25d	1	0.74mi
2901 10th Ave N Palm Springs, FL	2.0	1.0	900	$1,795	$1.99	25d	1	0.76mi
2085 S Congress Ave Palm Springs, FL	1.0–3.0	1.0–2.0	963	$2,595	$2.69	0d	12	0.76mi
220 Henthorne Dr Palm Springs, FL	1.0–2.0	1.5–2.0	900	$1,850	$2.06	25d	4	0.76mi
3386 Rudolph Rd Lake Worth Beach, FL	2.0	1.0	840	$2,100	$2.50	4d	1	0.82mi
3300 Boutwell Rd Lake Worth Beach, FL	1.0–2.0	1.0–2.0	765	$2,720	$3.56	25d	1	0.83mi
225 Bonnie Blvd #116 Palm Springs, FL	2.0	2.0	988	$1,850	$1.87	20d	1	0.84mi
225 Bonnie Blvd Palm Springs, FL	1.0–2.0	1.5–2.0	944	$1,850	$1.96	25d	2	0.84mi
124 Abaco Dr Palm Springs, FL	3.0	2.0	988	$2,900	$2.94	16d	1	0.88mi
3440 Rudolph Rd Unit 3440-03 Lake Worth Beach, FL	2.0	2.0	935	$2,100	$2.25	20d	1	0.89mi
3431 Helena Dr Unit 3481-11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	25d	1	0.90mi
3431 Helena Dr Lake Worth, FL	2.0	2.0	935	$2,075	$2.22	15d	2	0.90mi
3481 Helena Dr Unit 11 Lake Worth Beach, FL	2.0	2.0	935	$2,050	$2.19	25d	1	0.92mi
240 Alemeda Dr Palm Springs, FL	1.0–2.0	1.0–2.0	825	$1,850	$2.24	25d	3	0.92mi
246 Cypress Ln Lake Worth Beach, FL	1.0–2.0	1.0	850	$1,750	$2.06	25d	2	0.93mi
247 Cypress Ln Unit 246-C06 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	25d	1	0.94mi
247 Cypress Ln Unit 246-C12 Palm Springs, FL	2.0	1.0	850	$1,750	$2.06	6d	1	0.94mi
200 Bonnie Blvd #132 Palm Springs, FL	1.0	1.0	577	$1,500	$2.60	23d	1	0.96mi
500 Bonnie Blvd #165 Palm Springs, FL	1.0	1.5	782	$1,350	$1.73	25d	1	0.97mi
701 Lori Dr #204 Palm Springs, FL	2.0	2.0	994	$1,700	$1.71	25d	1	0.98mi
1719 15th Ave N Lake Worth Beach, FL	3.0	2.0	1014	$3,150	$3.11	0d	1	1.00mi
3031 French Ave Lake Worth, FL	3.0	1.0	840	$2,400	$2.86	9d	1	1.00mi
965 Manor Dr Palm Springs, FL	2.0	1.0	687	$1,995	$2.90	2d	5	1.01mi
504 Davis Rd #96 Palm Springs, FL	2.0	2.0	1080	$2,000	$1.85	25d	1	1.01mi
300 Bonnie Blvd #144 Palm Springs, FL	1.0	1.0	702	$1,350	$1.92	25d	1	1.01mi

HOA detail condo

• Monthly dues: $500 · $6,000/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 36 events

1. 2026-06-21
   days on market $114,000 Active 6 DOM
2. 2026-06-18
   days on market $114,000 Active 3 DOM
3. 2026-06-17
   days on market $114,000 Active 2 DOM
4. 2026-06-15
   pricedays on marketlisting id $114,000 Active 1 DOM
5. 2026-06-09
   days on market $115,000 Active 46 DOM
6. 2026-06-08
   days on market $115,000 Active 45 DOM
7. 2026-06-07
   days on market $115,000 Active 44 DOM
8. 2026-06-04
   days on market $115,000 Active 41 DOM
9. 2026-06-03
   days on market $115,000 Active 40 DOM
10. 2026-06-02
    days on market $115,000 Active 39 DOM
11. 2026-06-01
    days on market $115,000 Active 38 DOM
12. 2026-05-31
    days on market $115,000 Active 37 DOM
13. 2026-05-01
    price $1,800
14. 2026-04-30
    price $159,000
15. 2026-04-25
    listed $1,500
16. 2026-04-23
    listed $110,000 Active
17. 2024-10-05
    historical
18. 2024-04-03
    listed $165,000 Active
19. 2023-10-23
    historical
20. 2023-05-16
    listed $180,000 Active
21. 2021-09-02
    historical
22. 2021-03-03
    listed $115,000 Active
23. 2019-01-15
    soldstatus $68,000
24. 2019-01-11
    soldstatus $68,000 Closed
25. 2018-11-29
    status Pending
26. 2018-11-04
    listed $70,000 Active
27. 2018-04-18
    historical
28. 2018-02-28
    price $74,500
29. 2017-11-03
    listed $76,500 Active
30. 2001-04-24
    soldstatus $40,000
31. 2001-04-23
    soldstatus $40,000
32. 2001-03-23
    historical
33. 2000-11-13
    listed $41,900
34. 2000-10-20
    historical
35. 2000-04-17
    listed $43,900
36. 1983-09-01
    soldstatus $43,800

ⓘ 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: $449 · $37/mo
• Projected year-2 tax: $946 · $79/mo
• Expected delta: +$497/yr (+$41/mo · 110.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,693
• − Mortgage interest: −$6,386
• − Property taxes: −$449
• − Insurance: −$570
• − Repairs & maintenance: −$1,895
• − Management: −$1,895
• − HOA: −$6,000
• − Depreciation: −$3,316
• Taxable income: $3,180
• Est. tax owed @ 24.0%: −$763
• After-tax cash flow: $3,761/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 — Palm Springs

• Score: 73/100
• State rank: #297
• US rank: #5045

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment D+ Housing A+ 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
• City population: 49,443
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 26,945
• Household income: $77,075
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 768.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 54% White 33% Two or more races 29% Black 8% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5% Cuban 17% Dominican 5% Salvadoran 1%
• Common ancestry: Hispanic 3% Lithuanian 2% Romanian 1%
• Foreign-born: 39% · Canada, Jamaica, Vietnam
• Languages at home: 45% English-only · Spanish 49% French/Haitian/Cajun 2% Other Indo-European 1%

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: ▼ -384.39%
• Current HPI: 441.2523
• Rent YoY: ▲ 0.68%
• 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

-95.9% since first listed

24 events — show timeline

• 2026-05-01 Price Changed $1,800 RMLSFL
• 2026-04-30 Price Changed $159,000 Beaches MLS
• 2026-04-25 Listed for Rent $1,500 RMLSFL
• 2026-04-23 Listed $110,000 Beaches MLS
• 2024-10-05 Listing Removed — Beaches MLS
• 2024-04-03 Listed $165,000 Beaches MLS
• 2023-10-23 Listing Removed — MARMLS
• 2023-05-16 Listed $180,000 MARMLS
• 2021-09-02 Listing Removed — Beaches MLS
• 2021-03-03 Listed $115,000 Beaches MLS
• 2019-01-15 Sold (Public Records) $68,000 Public Records
• 2019-01-11 Sold (MLS) $68,000 Beaches MLS
• 2018-11-29 Pending — Beaches MLS
• 2018-11-04 Listed $70,000 Beaches MLS
• 2018-04-18 Listing Removed — Beaches MLS
• 2018-02-28 Price Changed $74,500 Beaches MLS
• 2017-11-03 Listed $76,500 Beaches MLS
• 2001-04-24 Sold (Public Records) $40,000 Public Records
• 2001-04-23 Sold (MLS) $40,000 Beaches MLS
• 2001-03-23 Listing Removed — Beaches MLS
• 2000-11-13 Listed $41,900 Beaches MLS
• 2000-10-20 Listing Removed — Beaches MLS
• 2000-04-17 Listed $43,900 Beaches MLS
• 1983-09-01 Sold (Public Records) $43,800 Public Records

Property tax history

+0.7%/yr

Latest (2025): $449 · +5.8% YoY. Source: county tax records.