59005 Captiva Bay · Boynton Beach, FL 33436

$139,000

2 bd · 1.5 ba · 972 sqft · Condo public records · 391 Days on market

Built 1972 $270/mo HOA · 13% 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 +29.3/30.0
• 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
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located on a cul-de-sac, this two-bedroom home has a front living room lots of windows for lots of light, and a million-dollar breeze! Double Roof. Laminate Floors. Stack washer & dryer inside the home. Vinyl sliders on the screened patio.

Key facts

• Plenty of storage
• Barbecue area
• New bahama shutters

Tags

• COMPLETELY RENOVATED
• PLENTY OF STORAGE
• NEW INSULATION
• DOUBLE HUNG VINYL WINDOWS
• NEW BAHAMA SHUTTERS
• BARBECUE AREA

Property features AI

Finance

• Other: Association fee includes maintenance of grounds, security, sewer, trash, water and common areas
• Financial info: Pets allowed (restrictions and limits may apply); Property is in a senior community
• HOA & community: Homeowners association with monthly fee; Association amenities include pool, clubhouse, cabana, community room, manager on site, dog park, bocce, putting green, shuffleboard court, billiard room, library, picnic area, storage, street lights, internet included; HOA fee billed monthly (amount listed separately)

Exterior

• Parking: Attached covered carport; Driveway; Decorative parking features
• Security: Closed-circuit cameras; Gated with guard; Window bars
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Mobile home (resale); Single-story; Multi/split levels; Entry-level living area; Faces south (direction)
• Construction: Modular/mixed construction; Aluminum roof (roof-over); Other skirt; Built 1,350 sq. ft. building area (public records)
• Exterior features: Covered patio; Patio; Shed(s); Cul-de-sac lot; Paved road frontage; Not waterfront

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Carpet; Laminate; Wood
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating; Central air; Ceiling fans; Wall/window units; Paddle fans
• Interior features: Built-in features; Kitchen island; Closet cabinetry; Unfurnished
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $139k.

Deal economics

• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $122k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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.
• Market conditions: Rents soft (-0.6%/yr); 445 active listings in the ZIP; 9 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 34% of the median local income ($76k/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 $961 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.

Negotiation context

• It's been on market 391 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y ago; this cycle's ask has dropped $30k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $139k implies a 209% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 391 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.54% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.04%
• DSCR: 1.67
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 1.7%
• Equity multiple: 1.06×
• Total profit: $2,469
• Equity at exit: $20,725

10-year hold

• IRR: 7.5%
• Equity multiple: 1.48×
• Total profit: $18,709
• Equity at exit: $12,018

Cash invested: $38,920 (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 33436

• Home prices YoY: -26.0%
• Rents YoY: -0.6%
• Active inventory: 445
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,134 high
• Mortgage (P&I): −$729
• Tax from tax record: −$141 /mo · $1,696/yr
• Insurance: −$58
• HOA: −$270
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $488

Break-even live

Break-even rent $1,517

Max offer price $139,000

Occupancy floor 72%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4482 King Theodore Dr Boynton Beach, FL	1.0	1.0	800	$1,795	$2.24	24d	1	0.53mi
8949 Oak St Boynton Beach, FL	2.0	2.0	1040	$1,300	$1.25	24d	1	0.76mi
9900 Pineapple Tree Dr #106 Boynton Beach, FL	2.0	2.0	1008	$2,250	$2.23	24d	1	1.03mi
9935 Pineapple Tree Dr #202 Boynton Beach, FL	2.0	2.0	1008	$2,575	$2.55	15d	1	1.05mi
3930 Max Pl Boynton Beach, FL	1.0	1.0	925	$2,550	$2.76	22d	1	1.29mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,375	$2.33	1d	19	1.36mi
3500 Sandpiper Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	1147	$2,579	$2.25	22d	22	1.37mi
10423 Boynton Place Cir Boynton Beach, FL	2.0	1.0	861	$2,200	$2.56	7d	1	1.48mi
10423 Boynton Place Cir Boynton Beach, FL	2.0	1.0	861	$2,200	$2.56	18d	1	1.48mi

HOA detail condo

• Monthly dues: $270 · $3,240/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $139,000 Active 391 DOM
2. 2026-06-17
   days on market $139,000 Active 390 DOM
3. 2026-06-16
   days on market $139,000 Active 389 DOM
4. 2026-06-15
   days on market $139,000 Active 388 DOM
5. 2026-06-13
   days on market $139,000 Active 386 DOM
6. 2026-06-09
   pricedays on market $139,000 Active 382 DOM
7. 2026-06-07
   days on market $144,000 Active 380 DOM
8. 2026-06-04
   days on market $144,000 Active 377 DOM
9. 2026-06-03
   days on market $144,000 Active 376 DOM
10. 2026-06-01
    days on market $144,000 Active 374 DOM
11. 2026-05-31
    days on market $144,000 Active 373 DOM
12. 2026-05-22
    price $144,000
13. 2026-04-21
    price $146,000
14. 2026-03-27
    price $148,000
15. 2026-02-17
    price $149,000
16. 2026-01-17
    price $154,000
17. 2025-12-01
    price $159,900
18. 2025-10-24
    price $164,900
19. 2025-09-29
    price $166,900
20. 2025-05-23
    listed $169,000 Active
21. 2020-05-26
    historical
22. 2020-02-24
    listed $54,900 Active
23. 2018-12-03
    status Pending 247-char remark

    Show marketing remark (247 chars)

    Located on a cul-de-sac, this two-bedroom home has a front living room lots of windows for lots of light, and a million-dollar breeze! Double Roof. Laminate Floors. Stack washer & dryer inside the home. Vinyl sliders on the screened patio.

24. 2018-12-03
    soldstatus $45,000 Closed 247-char remark

    Show marketing remark (247 chars)

    Located on a cul-de-sac, this two-bedroom home has a front living room lots of windows for lots of light, and a million-dollar breeze! Double Roof. Laminate Floors. Stack washer & dryer inside the home. Vinyl sliders on the screened patio.

25. 2018-11-28
    historical Contingent 247-char remark

    Show marketing remark (247 chars)

    Located on a cul-de-sac, this two-bedroom home has a front living room lots of windows for lots of light, and a million-dollar breeze! Double Roof. Laminate Floors. Stack washer & dryer inside the home. Vinyl sliders on the screened patio.

26. 2018-04-16
    listed $51,900 Active 247-char remark

    Show marketing remark (247 chars)

    Located on a cul-de-sac, this two-bedroom home has a front living room lots of windows for lots of light, and a million-dollar breeze! Double Roof. Laminate Floors. Stack washer & dryer inside the home. Vinyl sliders on the screened patio.

27. 2015-02-13
    soldstatus $33,000 Closed
28. 2015-01-28
    status Pending
29. 2015-01-19
    historical Contingent
30. 2015-01-13
    listed $34,900 Active
31. 2009-09-23
    soldstatus $15,000
32. 2009-09-22
    historical
33. 2008-03-05
    listed $25,900

ⓘ 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: $1,696 · $141/mo
• Projected year-2 tax: $1,696 · $141/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥106°F today · 20 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: $25,611
• − Mortgage interest: −$7,786
• − Property taxes: −$1,696
• − Insurance: −$695
• − Repairs & maintenance: −$2,049
• − Management: −$2,049
• − HOA: −$3,240
• − Depreciation: −$4,044
• Taxable income: $4,052
• Est. tax owed @ 24.0%: −$972
• After-tax cash flow: $4,881/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

• County: Palm Beach County · 1,438,312 people
• City population: 148,060
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 48,743
• Household income: $75,789
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 1813.0

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 0.64)
• Race & ethnicity: White 52% Black 24% Hispanic / Latino 19% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 3% Dominican 1%
• Common ancestry: Hispanic 12% Romanian 3% Scotch-Irish 2%
• Foreign-born: 27% · Canada, Jamaica, Vietnam
• Languages at home: 64% English-only · Spanish 14% French/Haitian/Cajun 13% 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: ▼ -109.59%
• Current HPI: 311.7742
• Rent YoY: ▼ -0.57%
• 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

+456.0% since first listed

22 events — show timeline

• 2026-05-22 Price Changed $144,000 Beaches MLS
• 2026-04-21 Price Changed $146,000 Beaches MLS
• 2026-03-27 Price Changed $148,000 Beaches MLS
• 2026-02-17 Price Changed $149,000 Beaches MLS
• 2026-01-17 Price Changed $154,000 Beaches MLS
• 2025-12-01 Price Changed $159,900 Beaches MLS
• 2025-10-24 Price Changed $164,900 Beaches MLS
• 2025-09-29 Price Changed $166,900 Beaches MLS
• 2025-05-23 Listed $169,000 Beaches MLS
• 2020-05-26 Listing Removed — Beaches MLS
• 2020-02-24 Listed $54,900 Beaches MLS
• 2018-12-03 Pending — Beaches MLS
• 2018-12-03 Sold (MLS) $45,000 Beaches MLS
• 2018-11-28 Contingent — Beaches MLS
• 2018-04-16 Listed $51,900 Beaches MLS
• 2015-02-13 Sold (MLS) $33,000 Beaches MLS
• 2015-01-28 Pending — Beaches MLS
• 2015-01-19 Contingent — Beaches MLS
• 2015-01-13 Listed $34,900 Beaches MLS
• 2009-09-23 Sold (MLS) $15,000 Beaches MLS
• 2009-09-22 Listing Removed — Beaches MLS
• 2008-03-05 Listed $25,900 Beaches MLS

Property tax history

+6.2%/yr

Latest (2025): $1,696 · +14.2% YoY. Source: county tax records.