638 Snug Harbor Dr Unit E11 · Boynton Beach, FL 33435

$134,900

2 bd · 2.0 ba · 990 sqft · Condo public records · 4 Days on market

Built 1971 $718/mo HOA · 28% 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 +28.3/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Snug Harbor! This cozy smaller 55+ waterfront community is a popular choice. Come see this well-kept 2 bed 2 bath with a fabulously updated kitchen featuring blue coastal accents. This all tile condo is delivered unfurnished with a newer AC, water heater, and electrical components including lighting, switches and sockets. Easy to own and care free. The star of the show is the extra large lounge-ready front screened porch that Snug Harbor is famous for. While out about you'll find shopping and dining within walking distance. When at home visit the intra-coastal front pool to relax and watch the boats pass by. Schedule a showing today!

Key facts

• Updated kitchen
• $718 HOA
• Parking

Tags

• UPDATED KITCHEN
• INTRA-COASTAL FRONT POOL

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Community amenities: clubhouse, fitness center, pool, community room; HOA fee $718.10 per month (includes cable TV, sewer, trash, water, common areas); Senior community

Exterior

• Parking: Assigned parking (1 space)
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Resale condition; 2 stories; Faces east
• Construction: CBS construction; Flat roof; 990 total building area (public records); Living area 858
• Exterior features: Screened porch; Porch; Intracoastal waterfront

Interior

• Kitchen: Disposal; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $430 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $135k).
• Cap rate 10.1% 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: Forest Park Elementary School (math 42% / reading 38%, grade F, #1,491 of 2,144 statewide, top 70%, 571 students, 81% 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 schools average 73% FRL vs 52% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 50% district-wide (-22 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 rising (+3.6%/yr); 538 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 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 + 3.6% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 14y 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 $112k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,900

Questions for the listing agent

1. Built in 1971 — 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. 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?
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: 1.90% ✓
• Cap rate: 10.12%
• Cash-on-cash: 13.67%
• DSCR: 1.61
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.64% rent growth · sell at horizon

5-year hold

• IRR: 5.2%
• Equity multiple: 1.20×
• Total profit: $7,657
• Equity at exit: $20,114

10-year hold

• IRR: 15.6%
• Equity multiple: 2.34×
• Total profit: $50,682
• Equity at exit: $11,664

Cash invested: $37,772 (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 33435

• Rents YoY: 3.6%
• Active inventory: 538
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,564 high
• Mortgage (P&I): −$707
• Tax from tax record: −$114 /mo · $1,364/yr
• Insurance: −$56
• HOA: −$718
• Vacancy / Maint / Mgmt: −$538
• Net cashflow: $430

Break-even live

Break-even rent $2,019

Max offer price $134,900

Occupancy floor 78%

Sensitivity live

Price	-10% $507	-5% $469	+0% $430	+5% $392	+10% $354
Rent	-10% $228	-5% $329	+0% $430	+5% $532	+10% $633
Rate	-1.0pp $498	-0.5pp $465	base $430	+0.5pp $395	+1.0pp $360

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
640 Snug Harbor Dr Unit F3 Boynton Beach, FL	1.0	1.0	629	$2,500	$3.97	12d	1	0.02mi
638 Snug Harbor Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	747	$2,300	$3.08	25d	2	0.02mi
631 E Woolbright Rd Boynton Beach, FL	1.0	1.0	786	$3,025	$3.85	25d	1	0.06mi
661 E Woolbright Rd Boynton Beach, FL	2.0	2.0	1095	$3,093	$2.82	4d	1	0.09mi
624 Snug Harbor Dr Unit B7 Boynton Beach, FL	2.0	2.0	858	$1,950	$2.27	25d	1	0.09mi
651 E Woolbright Rd #103 Boynton Beach, FL	2.0	2.0	1009	$2,650	$2.63	18d	1	0.10mi
630 E Woolbright Rd Apt 220 Boynton Beach, FL	1.0	1.0	768	$2,915	$3.80	17d	1	0.14mi
630 E Woolbright Rd Apt 412 Boynton Beach, FL	1.0	1.0	768	$2,699	$3.51	0d	1	0.14mi
630 E Woolbright Rd Apt 902 Boynton Beach, FL	1.0	1.0	768	$3,040	$3.96	25d	1	0.14mi
1351 S Federal Hwy Boynton Beach, FL	1.0–3.0	1.0–2.0	1394	$3,088	$2.21	0d	35	0.19mi
1001 S Federal Hwy Unit 3 Boynton Beach, FL	1.0	1.0	650	$1,995	$3.07	25d	1	0.25mi
1006 SE 4th St Boynton Beach, FL	2.0	1.0	900	$2,300	$2.56	25d	1	0.26mi
5530 N Ocean Blvd #106 Ocean Ridge, FL	2.0	2.5	1100	$2,700	$2.45	25d	1	0.29mi
5550 N Ocean Blvd #106 Ocean Ridge, FL	1.0	1.5	825	$3,400	$4.12	25d	1	0.29mi
5520 N Ocean Blvd #208 Ocean Ridge, FL	1.0	1.0	786	$3,000	$3.82	25d	1	0.32mi
5520 N Ocean Blvd #109 Ocean Ridge, FL	1.0	1.5	765	$2,200	$2.88	14d	1	0.32mi
5505 N Ocean Blvd Ocean Ridge, FL	1.0–2.0	1.0–2.0	774	$2,300	$2.97	12d	3	0.32mi
800 Horizons W #211 Boynton Beach, FL	1.0	1.0	570	$1,650	$2.89	16d	1	0.36mi
2004 S Federal Hwy #102 Boynton Beach, FL	2.0	2.0	963	$2,400	$2.49	25d	1	0.36mi
850 Horizons E #309 Boynton Beach, FL	1.0	1.5	646	$1,990	$3.08	22d	1	0.36mi
11 Sailfish Ln Ocean Ridge, FL	2.0	2.0	992	$3,500	$3.53	25d	1	0.40mi
13 Sailfish Ln Ocean Ridge, FL	2.0	2.0	992	$3,800	$3.83	25d	1	0.41mi
2006 S Federal Hwy #401 Boynton Beach, FL	2.0	2.0	963	$2,400	$2.49	25d	1	0.41mi
701 SE 4th St Apt W Boynton Beach, FL	2.0	1.0	924	$2,200	$2.38	25d	1	0.41mi
405 SE 20th Ave Unit 12E Boynton Beach, FL	2.0	1.0	975	$1,889	$1.94	25d	1	0.42mi
515 SE 20th Ave Boynton Beach, FL	2.0	1.0	787	$1,949	$2.47	0d	5	0.43mi
650 Horizons E #107 Boynton Beach, FL	1.0	1.0	570	$1,600	$2.81	25d	1	0.44mi
620 Horizons W #207 Boynton Beach, FL	1.0	1.0	570	$1,200	$2.11	25d	1	0.44mi
523 SE 20th Ct Unit 5 Boynton Beach, FL	1.0	1.0	755	$1,750	$2.32	25d	1	0.46mi
2016 S Federal Hwy #204 Boynton Beach, FL	2.0	2.0	963	$1,995	$2.07	9d	1	0.46mi
2016 S Federal Hwy #404 Boynton Beach, FL	2.0	2.0	963	$2,300	$2.39	16d	1	0.46mi
2016 S Federal Hwy #206 Boynton Beach, FL	2.0	2.0	963	$2,300	$2.39	25d	1	0.46mi
405 SE 20th Ave Unit 6D Boynton Beach, FL	2.0	1.0	975	$1,889	$1.94	9d	1	0.47mi
405 SE 20th Ave Apt 1C Boynton Beach, FL	2.0	1.0	975	$1,949	$2.00	25d	1	0.47mi
113 SE 8th Ave Boynton Beach, FL	3.0	2.0	1002	$3,050	$3.04	23d	1	0.49mi
3302 Tuscany Way Boynton Beach, FL	2.0	1.0	933	$2,900	$3.11	25d	1	0.51mi
49 Douglas Dr Ocean Ridge, FL	2.0	2.0	767	$4,200	$5.48	25d	1	0.52mi
22 Oceanview Dr Ocean Ridge, FL	1.0	1.0	620	$3,500	$5.65	25d	1	0.53mi
127 SW 10th Ave Boynton Beach, FL	2.0	1.5	754	$3,500	$4.64	16d	1	0.53mi
4411 Tuscany Way #4411 Boynton Beach, FL	2.0	2.0	1030	$2,400	$2.33	25d	1	0.56mi

HOA detail condo

• Monthly dues: $718 · $8,616/yr
• Likely covers: waterelectricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-21
   days on market $134,900 Active 4 DOM
2. 2026-06-17
   remarks 652-char remark
3. 2026-06-17
   listed $134,900 Active 1 DOM

ⓘ 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: $1,364 · $114/mo
• Projected year-2 tax: $1,364 · $114/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 6/10 Major FEMA zone X (shaded) · 56% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 29 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: $30,769
• − Mortgage interest: −$7,556
• − Property taxes: −$1,364
• − Insurance: −$674
• − Repairs & maintenance: −$2,462
• − Management: −$2,462
• − HOA: −$8,616
• − Depreciation: −$3,924
• Taxable income: $3,711
• Est. tax owed @ 24.0%: −$891
• After-tax cash flow: $4,274/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 — 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): 37,833
• Household income: $67,979
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 1623.0

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 0.65)
• Race & ethnicity: White 41% Black 40% Hispanic / Latino 15% Two or more races 10%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Hispanic 23% Romanian 2% Lithuanian 2%
• Foreign-born: 30% · Canada, Jamaica
• Languages at home: 61% English-only · French/Haitian/Cajun 24% Spanish 11% 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: ▼ -345.86%
• Current HPI: 371.0527
• Rent YoY: ▲ 3.64%
• 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

+124.8% since first listed

24 events — show timeline

• 2026-06-17 Listed $134,900 Beaches MLS
• 2026-05-15 Listing Removed — Beaches MLS
• 2026-04-29 Price Changed $134,900 Beaches MLS
• 2026-03-02 Price Changed $149,000 Beaches MLS
• 2026-01-19 Price Changed $159,900 Beaches MLS
• 2025-11-19 Listed $169,900 Beaches MLS
• 2025-08-31 Listing Removed — Beaches MLS
• 2025-05-13 Price Changed $169,900 Beaches MLS
• 2025-03-17 Price Changed $179,000 Beaches MLS
• 2025-02-13 Listed $189,000 Beaches MLS
• 2018-03-07 Sold (Public Records) $112,000 Public Records
• 2018-01-29 Listing Removed — Beaches MLS
• 2018-01-17 Price Changed $117,000 Beaches MLS
• 2017-10-16 Listed $119,000 Beaches MLS
• 2016-02-18 Listing Removed — Beaches MLS
• 2016-01-28 Listed $104,500 Beaches MLS
• 2015-06-29 Sold (Public Records) $85,000 Public Records
• 2015-06-26 Sold (MLS) $85,000 Beaches MLS
• 2015-06-01 Contingent — Beaches MLS
• 2015-05-27 Listed $85,000 Beaches MLS
• 2013-03-12 Listing Removed — Beaches MLS
• 2012-05-22 Listed $115,000 Beaches MLS
• 1995-07-18 Sold (Public Records) $50,000 Public Records
• 1993-04-22 Sold (Public Records) $60,000 Public Records

Property tax history

-1.7%/yr

Latest (2025): $1,364 · +3.8% YoY. Source: county tax records.