None · Boca Raton, FL 33431

$225,900

2 bd · 2.0 ba · 1,014 sqft · Condo · 53 Days on market

Built 1966 Good condition $528/mo HOA · 19% of rent ↓ 4% since listing

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Why this score? — see what drove the C- 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 +16.1/30.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Rent growth +4.2/5.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Appreciation +0.0/10.0

Listing remarks

The Best unit, in the Best Building, top Floor and an Extra Nice New Kitchen! Just a few steps to one of the nicest pools in East Boca. If you don’t know about the Boca Verde East community, “Then Get Ready to Smile”, the most affordable 2 bedroom 2 Bath condo in EAST Boca Raton and reasonable condo fees. This community is nestled on NE 20th street. You are probably familar with the exotic Banyan trees that enchant the winding road and continue into this plush & impeccable grounds of the community. Discover the Best Value & 5-Star location in the city. This condo whispers Romance from the second you enter the foyer, but you’re gong to have to come look to

Key facts

• 5-star location
• Plush grounds
• Exotic banyan trees

Tags

• EXTRA NICE NEW KITCHEN
• BOCA VERDE EAST COMMUNITY
• EXOTIC BANYAN TREES
• PLUSH GROUNDS
• 5-STAR LOCATION

Property features AI

Finance

• Other: Resale condition; Is a senior community
• HOA & community: Has association; Monthly HOA fee: $528; HOA includes maintenance (grounds & structure), sewer, trash, water, common areas, elevator, and pool service; Association amenities: pool, billiard room, shuffleboard court, community room, kitchen facilities, library, bike storage, storage, picnic area, car wash area, internet included

Exterior

• Parking: Assigned parking; Guest parking
• Security: Security fence
• Utilities: Water included in association; Sewer included in association; Trash service included in association; Elevator (building amenity)
• Home design: Condominium; 3-story building; Entry on third floor; North-facing
• Construction: Block construction
• Exterior features: Third-floor entry; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Disposal
• Bedrooms: 2 bedrooms (main level)
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Unfurnished; Security fence
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $226k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $114 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $226k).
• Recommended offer: $219k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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: schools A+, employment A+, health & safety A+; 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.
• Market conditions: Rents rising fast (+6.8%/yr); 181 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 ($108k/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 53 days — a 3% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $219,123 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.23% ✓
• Cap rate: 6.90%
• Cash-on-cash: 2.16%
• DSCR: 1.10
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.83% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.72×
• Total profit: $-17,828
• Equity at exit: $33,682

10-year hold

• IRR: 7.7%
• Equity multiple: 1.71×
• Total profit: $44,858
• Equity at exit: $19,532

Cash invested: $63,252 (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 33431

• Rents YoY: 6.8%
• Active inventory: 181
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,789 high
• Mortgage (P&I): −$1,185
• Tax est. 1.5%: −$282 /mo · $3,388/yr
• Insurance: −$94
• HOA: −$528
• Vacancy / Maint / Mgmt: −$586
• Net cashflow: $114

Break-even live

Break-even rent $2,644

Max offer price $225,900

Occupancy floor 91%

Sensitivity live

Price	-10% $270	-5% $192	+0% $114	+5% $36	+10% $-42
Rent	-10% $-106	-5% $4	+0% $114	+5% $224	+10% $334
Rate	-1.0pp $228	-0.5pp $171	base $114	+0.5pp $55	+1.0pp $-4

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: $56,475
• Closing costs: $6,777
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
480 Hardwood Pl Boca Raton, FL	3.0	2.0	1286	$3,000	$2.33	25d	1	0.72mi
3149 Kingswood Ter Boca Raton, FL	2.0	2.0	1354	$2,800	$2.07	25d	1	0.76mi
441 Ashwood Pl Boca Raton, FL	2.0	2.0	1236	$3,500	$2.83	25d	1	0.77mi
432 Ashwood Pl Boca Raton, FL	3.0	2.0	1384	$3,700	$2.67	25d	1	0.78mi
3080 Inglewood Ter Boca Raton, FL	3.0	2.0	1229	$3,200	$2.60	16d	1	0.79mi
3072 Inglewood Ter Boca Raton, FL	2.0	2.0	1200	$3,200	$2.67	21d	1	0.79mi
3355 Jaywood Ter #1130 Boca Raton, FL	3.0	2.0	1170	$1,200	$1.03	12d	1	0.82mi
3325 Jaywood Ter #1090 Boca Raton, FL	2.0	2.0	920	$2,000	$2.17	8d	1	0.82mi
490 NW 20th St Boca Raton, FL	1.0–2.0	1.0–2.0	1018	$2,500	$2.46	3d	2	0.82mi
490 NW 20th St Boca Raton, FL	1.0–2.0	1.0–2.0	1018	$2,500	$2.46	21d	3	0.82mi
490 NW 20th St #1030 Boca Raton, FL	2.0	2.0	936	$2,200	$2.35	25d	1	0.83mi
1999 NW 4th Ave Unit C Boca Raton, FL	2.0	2.0	1250	$2,600	$2.08	25d	1	0.84mi
389 Driftwood Ter Unit D-23 Boca Raton, FL	2.0	2.0	1200	$2,950	$2.46	8d	1	0.84mi
3300 Jaywood Ter #2160 Boca Raton, FL	3.0	2.0	1170	$3,300	$2.82	25d	1	0.85mi
3350 Jaywood Ter Unit J221 Boca Raton, FL	2.0	2.0	935	$2,750	$2.94	16d	1	0.87mi
3350 Jaywood Ter Unit J122 Boca Raton, FL	2.0	2.0	920	$2,700	$2.93	25d	1	0.87mi
3350 Jaywood Ter Unit J221 Boca Raton, FL	2.0	2.0	935	$2,750	$2.94	6d	1	0.87mi
3350 Jaywood Ter Unit J221 Boca Raton, FL	2.0	2.0	935	$2,750	$2.94	25d	1	0.87mi
450 NW 20th St Boca Raton, FL	2.0	2.0	958	$2,275	$2.37	0d	3	0.87mi
3151 Leewood Ter Unit L228 Boca Raton, FL	3.0	2.0	1178	$3,400	$2.89	6d	1	0.88mi
3151 Leewood Ter Unit L229 Boca Raton, FL	3.0	2.0	1178	$3,450	$2.93	3d	1	0.88mi
480 NW 20th St Boca Raton, FL	2.0	2.0	936	$2,200	$2.35	3d	2	0.88mi
460 NW 20th St #1100 Boca Raton, FL	2.0	2.0	936	$2,300	$2.46	25d	1	0.88mi
3139 Millwood Ter Unit 230 Boca Raton, FL	2.0	2.0	920	$2,850	$3.10	23d	1	0.90mi
3171 Leewood Ter Unit L234 Boca Raton, FL	3.0	2.0	1178	$3,300	$2.80	19d	1	0.91mi
3171 Leewood Ter Unit L134 Boca Raton, FL	3.0	2.0	1178	$3,400	$2.89	8d	1	0.91mi
470 NW 20th St #3020 Boca Raton, FL	2.0	2.0	936	$2,400	$2.56	8d	1	0.92mi
330 NW 20th St Boca Raton, FL	2.0	1.0	800	$2,095	$2.62	8d	1	0.92mi
3129 Millwood Ter #2340 Boca Raton, FL	2.0	2.0	920	$2,380	$2.59	25d	1	0.93mi
3149 Millwood Ter #2210 Boca Raton, FL	2.0	2.0	920	$2,400	$2.61	0d	1	0.93mi
1675 NW 4th Ave Boca Raton, FL	1.0	1.0	710	$2,115	$2.98	23d	10	0.94mi
3119 Millwood Ter Unit M141 Boca Raton, FL	2.0	2.0	920	$2,250	$2.45	23d	1	0.94mi
3355 Jaywood Ter Unit J-113 Boca Raton, FL	3.0	2.0	1170	$3,450	$2.95	16d	1	0.95mi
1845 NW 4th Ave #17 Boca Raton, FL	3.0	3.0	1428	$3,500	$2.45	25d	1	0.95mi
3130 Millwood Ter #2120 Boca Raton, FL	2.0	2.0	920	$2,500	$2.72	3d	1	0.98mi
3130 Millwood Ter #2120 Boca Raton, FL	2.0	2.0	920	$2,550	$2.77	25d	1	0.98mi
3130 Millwood Ter #1110 Boca Raton, FL	2.0	2.0	920	$2,200	$2.39	18d	1	0.98mi
3130 Millwood Ter #2160 Boca Raton, FL	2.0	2.0	920	$2,900	$3.15	25d	1	0.98mi
3130 Millwood Ter #2120 Boca Raton, FL	2.0	2.0	920	$2,500	$2.72	16d	1	0.98mi
399 NW 19th St Boca Raton, FL	2.0	2.0	1000	$2,000	$2.00	25d	1	0.98mi

HOA detail condo

• Monthly dues: $528 · $6,336/yr
• Likely covers: cablelandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-05-12
   status Pending
2. 2026-05-09
   status Active
3. 2026-04-30
   historical
4. 2026-04-22
   price $225,900
5. 2026-01-24
   listed $235,900 Active

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

Taxation est. · year 1

• Rental income: $33,463
• − Mortgage interest: −$12,654
• − Property taxes: −$3,388
• − Insurance: −$1,130
• − Repairs & maintenance: −$2,677
• − Management: −$2,677
• − HOA: −$6,336
• − Depreciation: −$6,572
• Taxable loss: −$1,970
• Est. tax savings @ 24.0%: +$473
• After-tax cash flow: $1,839/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained townhouse in Boca Raton is in good condition with modern appliances and a clean interior. It offers a good investment opportunity with potential for value-add improvements.

Value-add opportunities

• Both Paint the exterior walls — Enhances curb appeal and resale value
• Both Replace the ceiling fan in the living room — Improves aesthetics and energy efficiency
• Both Upgrade the kitchen appliances — Modernizes the kitchen and enhances resale value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior walls — Enhances curb appeal and resale value ↑
• Both Replace the ceiling fan in the living room — Improves aesthetics and energy efficiency ↑
• Both Upgrade the kitchen appliances — Modernizes the kitchen and enhances resale value ↑

ⓘ 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 — 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

• Census place: Boca Raton, FL
• County: Palm Beach County · 1,438,312 people
• City population: 250,102
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 24,608
• Household income: $107,896
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 872.0

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 0.56)
• Race & ethnicity: White 63% Hispanic / Latino 15% Black 14% Two or more races 10% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1% Cuban 3%
• Common ancestry: Hispanic 9% Scotch-Irish 5% Romanian 5%
• Foreign-born: 15% · Canada, Jamaica, Vietnam
• Languages at home: 77% English-only · Spanish 11% Other Indo-European 5% 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: ▼ -425.66%
• Current HPI: 342.0339
• Rent YoY: ▲ 6.83%
• 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

-4.2% since first listed

5 events — show timeline

• 2026-05-12 Pending — Beaches MLS
• 2026-05-09 Relisted — Beaches MLS
• 2026-04-30 Listing Removed — Beaches MLS
• 2026-04-22 Price Changed $225,900 Beaches MLS
• 2026-01-24 Listed $235,900 Beaches MLS