12614 Tiboli Chase Ct #1

Boca Raton, FL 33496

$450,000D

3 bd · 2.0 ba · 1,577 sqft · Built 1995 · Condo · Active · 96 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,714/mo
• Mortgage (P&I): −$2,360
• Tax + insurance: −$750
• HOA: −$650
• Vac / Maint / Mgmt: −$780
• Net cashflow: $-825/mo
• Annual: $-9,905/yr
• Cap rate: 4.09%
• Cash-on-cash: -7.86%
• DSCR: 0.65
• 1% rule: 0.83%
• Cash to close: $126,000

Investor read

• This is a 3-bed/2.0-bath condo listed at $450k.
• At list price, monthly cash flow is $-825 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $331k (26.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $371k (17.5% below list).
• It's been on market 96 days — a 9% lower offer ($410k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $331k (26.5% below list) — sets the bar for cash-flow.
• In year one you build about $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• 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 (+2.3%/yr); 330 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• 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 ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.1% 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.
• This rent runs 39% of the median local income ($115k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 96 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?