9622 Boca Gardens Pkwy · Boca Raton, FL 33496

$489,000

3 bd · 3.5 ba · 1,325 sqft · Townhouse · 1 Days on market

Built 1986 2,531 sqft lot $477/mo HOA · 13% 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.9/30.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +0.3/10.0

Listing remarks

Rare opportunity to own a private pool home in Boca Gardens. This move-in ready residence has been thoughtfully updated and offers a desirable combination of indoor comfort and outdoor living. The remodeled kitchen features stainless steel appliances, updated cabinetry, and ample workspace. New waterproof luxury vinyl plank flooring throughout the main living areas on the first floor creates a fresh, contemporary feel, while the renovated primary bathroom showcases updated fixtures and finishes. A newer air-conditioning system provides added peace of mind. The spacious layout is filled with natural light and flows seamlessly to the private outdoor retreat. Enjoy your own screened private po

Key facts

• $477 HOA
• Garage
• Pool

Property features AI

Finance

• Other: No land lease
• HOA & community: Homeowners association (Boca Gardens HOA/Castle Group); Monthly HOA fee; Community amenities include pool, tennis courts, pickleball courts, basketball court, jogging path, playground, picnic area, sidewalks, street lights, community room, manager on site, maintained community and parking; HOA fee covers cable TV, insurance, grounds maintenance, security, sewer, trash, common areas, common real estate tax, reserve funds, and roof repairs; Pets allowed (restrictions possible); Approximately 700 units in the community

Exterior

• Parking: Assigned parking with driveway and guest spaces; Attached 2-car garage; Two covered spaces; Two open parking spaces; Concrete parking surfaces
• Security: Smoke detectors; Security patrol; Community security
• Utilities: Public water; Public sewer; 150 amp electric service; Cable available; Phone available; Electricity connected; Sewer connected; Water available
• Home design: Townhouse; Two-story; Entry level: 1; Faces northeast
• Construction: Brick/CBS construction; Shingle roof; Slab foundation; Built as part of building/complex 9622
• Exterior features: Corner lot, landscaped; Fenced backyard with vinyl fence and gate; In-ground private free-form pool with concrete deck and automatic chlorination; Gate entry

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Garbage disposal; Refrigerator; Electric water heater
• Bedrooms: Two main level bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: Three full bathrooms; One half bathroom; Two bathrooms on main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Entrance foyer; High ceilings; Kitchen island; Split bedroom layout; Cabana bath; Skylights; Blinds
• Laundry & utility: Laundry inside (main and lower level) and in garage

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath townhouse listed at $489k.

Deal economics

• At list price, monthly cash flow is $-957 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $351k (28.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $367k (24.9% below list).
• Recommended offer: $351k (28.3% below list) — sets the bar for cash-flow.
• Cap rate 3.9% vs local median 2.7% in Boca Raton — 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 77/100 on livability (#192 in FL, #3,070 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, health & safety A+, crime B+; Watch: amenities D, 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: Whispering Pines Elementary School (math 62% / reading 69%, grade B+, #500 of 2,144 statewide, top 24%, 1,015 students, 25% FRL); Omni Middle School (math 66% / reading 66%, grade A-, #93 of 571 statewide, top 16%, 1,128 students, 29% 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 28% FRL vs 52% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 63% at this address vs 50% district-wide (+14 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 (+2.3%/yr); 330 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); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 38% of the median local income ($115k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $52k of equity ($3k loan paydown + $49k appreciation (10.0% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$84k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $350,577 (28.3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 0.75% ✗
• Cap rate: 3.95%
• Cash-on-cash: -8.38%
• DSCR: 0.63
• GRM: 11.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: 18.2%
• Equity multiple: 2.48×
• Total profit: $203,213
• Equity at exit: $440,530

10-year hold

• IRR: 16.9%
• Equity multiple: 5.69×
• Total profit: $642,041
• Equity at exit: $950,019

Cash invested: $136,920 (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 33496

• Home prices YoY: 3.5%
• Rents YoY: 2.3%
• Active inventory: 330
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $3,671 high
• Mortgage (P&I): −$2,564
• Tax est. 1.5%: −$611 /mo · $7,335/yr
• Insurance: −$204
• HOA: −$477
• Vacancy / Maint / Mgmt: −$771
• Net cashflow: $-957

Break-even live

Break-even rent $4,881

Max offer price $350,577

Occupancy floor —

Sensitivity live

Price	-10% $-619	-5% $-788	+0% $-957	+5% $-1,126	+10% $-1,295
Rent	-10% $-1,247	-5% $-1,102	+0% $-957	+5% $-812	+10% $-667
Rate	-1.0pp $-710	-0.5pp $-832	base $-957	+0.5pp $-1,083	+1.0pp $-1,212

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: $122,250
• Closing costs: $14,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9585 Affirmed Ln Boca Raton, FL	4.0	2.0	1756	$3,950	$2.25	6d	1	0.07mi
9713 Boca Gardens Pkwy Unit D Boca Raton, FL	3.0	3.5	1325	$3,995	$3.02	16d	1	0.11mi
9732 Saddlebrook Dr Boca Raton, FL	4.0	2.0	1388	$3,235	$2.33	12d	1	0.18mi
9392 Affirmed Ln Boca Raton, FL	3.0	2.0	1635	$3,200	$1.96	16d	1	0.19mi
9448 Saddlebrook Dr Unit 9448 Boca Raton, FL	3.0	2.0	1243	$3,500	$2.82	25d	1	0.19mi
9448 Saddlebrook Dr Boca Raton, FL	3.0	2.0	1243	$3,500	$2.82	22d	1	0.19mi
9975 Boca Gardens Trl Unit A Boca Raton, FL	3.0	2.0	1276	$3,300	$2.59	9d	1	0.35mi
9841 Ridgecreek Rd Boca Raton, FL	3.0	2.0	1435	$4,500	$3.14	25d	1	0.41mi
9190 Boca Gardens Pkwy Unit B Boca Raton, FL	3.0	2.5	1845	$3,500	$1.90	25d	1	0.41mi
9238 Vineland Ct Unit G Boca Raton, FL	3.0	2.0	1318	$3,100	$2.35	0d	1	0.42mi
9850 Ridgecreek Rd Boca Raton, FL	3.0	2.0	1364	$3,600	$2.64	25d	1	0.44mi
9104 Affirmed Ln Boca Raton, FL	3.0	2.0	1266	$3,215	$2.54	0d	1	0.47mi
9785 Ridgecreek Rd Boca Raton, FL	2.0	2.0	1172	$3,450	$2.94	6d	1	0.47mi
9785 Ridgecreek Rd Boca Raton, FL	3.0	2.0	1172	$3,600	$3.07	20d	1	0.47mi
9928 Moss Pond Dr Unit 9928 Boca Raton, FL	3.0	2.5	1843	$4,500	$2.44	16d	1	0.54mi
9928 Moss Pond Dr Boca Raton, FL	3.0	2.5	1843	$4,500	$2.44	13d	1	0.54mi
9928 Moss Pond Dr Boca Raton, FL	3.0	2.5	1843	$4,500	$2.44	25d	1	0.54mi
18730 Stewart Cir #5 Boca Raton, FL	2.0	2.0	1227	$2,500	$2.04	25d	1	0.56mi
18813 Cloud Lake Cir Boca Raton, FL	3.0	2.0	1132	$3,400	$3.00	5d	1	0.58mi
18813 Cloud Lake Cir Boca Raton, FL	3.0	2.0	1132	$3,500	$3.09	5d	1	0.58mi
9636 Tavernier Dr Boca Raton, FL	3.0	2.0	1820	$4,200	$2.31	25d	1	0.66mi
18298 102nd Way S Boca Raton, FL	4.0	2.0	1853	$6,500	$3.51	25d	1	0.70mi
18917 Cloud Lake Cir Boca Raton, FL	3.0	2.0	1132	$3,350	$2.96	25d	1	0.71mi
18595 Egret Way #18595 Boca Raton, FL	2.0	2.0	1000	$2,200	$2.20	25d	1	0.74mi
18855 Candlewick Dr Boca Raton, FL	2.0	2.0	1022	$2,600	$2.54	25d	1	0.80mi
18890 Candlewick Dr Unit B Boca Raton, FL	2.0	2.0	1044	$2,600	$2.49	25d	1	0.80mi
9708 Erica Ct Boca Raton, FL	2.0	2.0	1410	$4,800	$3.40	25d	1	0.82mi
9110 Fairbanks Ln #4 Boca Raton, FL	2.0	2.0	1227	$2,400	$1.96	25d	1	0.84mi
9387 Richmond Cir Boca Raton, FL	3.0	2.0	1849	$4,100	$2.22	0d	1	0.91mi
9387 Richmond Cir Boca Raton, FL	3.0	2.0	1849	$4,100	$2.22	12d	1	0.91mi
8705 Via Giula #4 Boca Raton, FL	3.0	2.0	1477	$3,500	$2.37	25d	1	0.93mi
8705 Via Giula #4 Boca Raton, FL	3.0	2.0	1477	$3,400	$2.30	16d	1	0.93mi
8664 Jasmine Way Boca Raton, FL	2.0	2.0	1162	$1,795	$1.54	25d	1	1.04mi
9940 Liberty Rd Boca Raton, FL	4.0	2.0	1674	$5,500	$3.29	25d	1	1.08mi
9680 Lancaster Pl Boca Raton, FL	3.0	2.0	1504	$4,850	$3.22	25d	1	1.09mi
9718 Lancaster Pl Boca Raton, FL	3.0	2.0	1773	$4,400	$2.48	25d	1	1.09mi
19287 Liberty Rd Boca Raton, FL	3.0	2.0	1327	$3,450	$2.60	25d	1	1.13mi
19287 Liberty Rd Boca Raton, FL	3.0	3.0	1327	$3,450	$2.60	6d	1	1.13mi
19287 Liberty Rd Boca Raton, FL	3.0	3.0	1327	$3,450	$2.60	12d	1	1.13mi
10780 Cypress Lake Ter Boca Raton, FL	3.0	2.0	1450	$3,500	$2.41	9d	1	1.15mi

HOA detail

• Monthly dues: $477 · $5,724/yr
• Likely covers: waterpool

Listing history 2 events

1. 2026-06-16
   remarks 699-char remark
2. 2026-06-16
   listed $489,000 Active 1 DOM

ⓘ 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 4/10 Moderate
• 🌡 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,047
• − Mortgage interest: −$27,392
• − Property taxes: −$7,335
• − Insurance: −$2,445
• − Repairs & maintenance: −$3,524
• − Management: −$3,524
• − HOA: −$5,724
• − Depreciation: −$14,225
• Taxable loss: −$20,122
• Est. tax savings @ 24.0%: +$4,829
• After-tax cash flow: $-6,650/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 — Boca Raton

• Score: 77/100
• State rank: #192
• US rank: #3070

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• City population: 250,102
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 26,579
• Household income: $114,885
• Rent vs Own: 16.5% rent · 83.5% own
• Severe rent burden: 464.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Two or more races 8% Asian 5% Black 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Scotch-Irish 13% Romanian 9% Italian 3%
• Foreign-born: 24% · Canada, Jamaica, Dominican Republic
• Languages at home: 75% English-only · Spanish 9% Other Indo-European 5% Russian/Polish/Slavic 4%

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: ▲ 10.48%
• Current HPI: 313.9058
• Rent YoY: ▲ 2.31%
• 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