33 Preston A · Boca Raton, FL 33434

$112,500

2 bd · 1.5 ba · 840 sqft · Condo public records · 106 Days on market

Built 1981 $469/mo HOA · 24% of rent

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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 +25.2/30.0
• 1% rule +10.0/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

TOP FLOOR CORNER. NEWER FRIDGE. WALK TO CLUBHOUSE. FURNISHED OR UNFURNISHED SAME PRICE. FREE BUS SERVICE. FREE CABLE TV. ACTIVE CLUBHOUSE OFFERS LIVE ENTERTAINMENT, MOVIES, CLUBS, FITNESS AREA, TENNIS, 2 OLYMPIC SIZE POOLS. CLOSE TO SHOPPING CENTERS.

Key facts

• Fitness center
• Lake view
• Enclosed patio

Tags

• LAKE VIEW
• ENCLOSED PATIO
• HURRICANE-IMPACT WINDOWS
• STAINLESS STEEL APPLIANCES
• FITNESS CENTER

Property features AI

Finance

• Other: Senior community
• Financial info: No pets allowed; Community contains multiple units (large association)
• HOA & community: Community has an association; Monthly association fee (approx.) $480.50; Association amenities include: billiard room, clubhouse, elevator(s), fitness center, golf course, game room, laundry, picnic area, parking, pool, shuffleboard court, tennis courts, trash chute, courtesy bus, sidewalks; Association fee includes cable TV, grounds maintenance, pest control, security, sewer, trash, water, common areas, and recreation facility

Exterior

• Parking: Assigned parking; Guest parking available
• Security: Gated community with guard; Security included in association services
• Utilities: Cable available
• Home design: Condominium; Multi/split levels; Entry-level living area; Faces east
• Construction: CBS construction
• Exterior features: Porch with glass enclosure; Sidewalks; Paved road access; Not waterfront

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Electric range; Refrigerator; Unfurnished; Carpet flooring
• Laundry & utility: Community laundry available

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $112k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Recommended offer: $102k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 2.8% 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); Eagles Landing Middle School (math 66% / reading 67%, grade A-, #84 of 571 statewide, top 16%, 1,508 students, 27% 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 27% FRL vs 52% district-wide (25 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 (+1.8%/yr); 418 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $778 of loan paydown is wiped out by about $3k 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 106 days — a 9% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $16k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $52k; list at $112k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• 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 $102,375 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.71% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.66%
• DSCR: 1.43
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.81% rent growth · sell at horizon

5-year hold

• IRR: -3.5%
• Equity multiple: 0.87×
• Total profit: $-4,029
• Equity at exit: $16,774

10-year hold

• IRR: 4.4%
• Equity multiple: 1.30×
• Total profit: $9,503
• Equity at exit: $9,727

Cash invested: $31,500 (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 33434

• Rents YoY: 1.8%
• Active inventory: 418
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,924 high
• Mortgage (P&I): −$590
• Tax from tax record: −$160 /mo · $1,923/yr
• Insurance: −$47
• HOA: −$469
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $254

Break-even live

Break-even rent $1,603

Max offer price $112,500

Occupancy floor 82%

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: $28,125
• Closing costs: $3,375
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
77 Preston Way #77 Boca Raton, FL	1.0	1.0	600	$1,450	$2.42	22d	1	0.08mi
77 Preston Way #77 Boca Raton, FL	1.0	1.0	600	$1,350	$2.25	7d	1	0.08mi
162 Preston D Boca Raton, FL	1.0	1.0	810	$1,495	$1.85	24d	1	0.08mi
351 Mansfield Dr #351 Boca Raton, FL	2.0	1.5	840	$2,300	$2.74	24d	1	0.08mi
74 Preston Way Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	22d	1	0.12mi
204 Preston Way #204 Boca Raton, FL	1.0	1.0	810	$1,500	$1.85	1d	1	0.12mi
91 Preston Way Unit 91 Boca Raton, FL	1.0	1.0	600	$1,500	$2.50	24d	1	0.12mi
74 Preston Way Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	24d	1	0.12mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,300	$1.81	2d	1	0.12mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,350	$1.88	24d	1	0.12mi
4030 Rexford A Unit 403 Boca Raton, FL	2.0	2.0	896	$1,700	$1.90	7d	1	0.13mi
4030 Rexford A Unit 403 Boca Raton, FL	2.0	2.0	896	$1,850	$2.06	24d	1	0.13mi
1030 Rexford B Boca Raton, FL	2.0	2.0	896	$1,800	$2.01	24d	1	0.17mi
2039 Rexford C Boca Raton, FL	2.0	2.0	896	$1,550	$1.73	24d	1	0.17mi
4030 Rexford B Boca Raton, FL	2.0	2.0	916	$1,700	$1.86	18d	1	0.17mi
3049 Wolverton E Unit 3049 Boca Raton, FL	2.0	2.0	896	$2,200	$2.46	7d	1	0.19mi
250 Suffolk F #250 Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	3d	1	0.20mi
171 Suffolk F #171 Boca Raton, FL	1.0	1.5	720	$1,500	$2.08	11d	1	0.20mi
209 Suffolk F Unit F Boca Raton, FL	1.0	1.5	720	$1,400	$1.94	24d	1	0.20mi
68 Suffolk F Unit 68 Boca Raton, FL	1.0	1.5	720	$2,750	$3.82	24d	1	0.20mi
4049 Wolverton C Unit C Boca Raton, FL	2.0	2.0	896	$2,500	$2.79	2d	1	0.20mi
445 Mansfield M Unit 445 Boca Raton, FL	2.0	1.5	840	$1,700	$2.02	7d	1	0.22mi
84 Mansfield Dr Unit 84 Boca Raton, FL	2.0	1.5	840	$1,583	$1.88	24d	1	0.23mi
588 Mansfield M Unit M Boca Raton, FL	2.0	1.5	835	$1,475	$1.77	24d	1	0.23mi
543 Mansfield M #543 Boca Raton, FL	2.0	1.5	835	$1,890	$2.26	24d	1	0.23mi
431 Mansfield K Unit K Boca Raton, FL	2.0	1.5	835	$1,600	$1.92	22d	1	0.23mi
392 Mansfield I Unit I Boca Raton, FL	2.0	1.5	840	$1,850	$2.20	24d	1	0.23mi
9 Mansfield B #9 Boca Raton, FL	1.0	1.5	810	$1,400	$1.73	24d	1	0.23mi
3049 Wolverton C #3049 Boca Raton, FL	2.0	2.0	896	$2,200	$2.46	7d	1	0.24mi
4014 Newcastle A Unit A Boca Raton, FL	1.0	1.5	738	$1,495	$2.03	24d	1	0.26mi
1025 Newcastle B #1025 Boca Raton, FL	2.0	2.0	896	$1,800	$2.01	17d	1	0.26mi
2017 Newcastle A Unit 2017 Boca Raton, FL	2.0	2.0	896	$1,850	$2.06	24d	1	0.26mi
517 Mansfield M Unit 517 Boca Raton, FL	1.0	1.5	715	$1,550	$2.17	24d	1	0.27mi
84 Mansfield B #84 Boca Raton, FL	2.0	1.5	840	$1,583	$1.88	14d	1	0.27mi
256 Mansfield G Unit G Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	18d	1	0.27mi
540 Mansfield M Boca Raton, FL	1.0	1.0	810	$1,400	$1.73	24d	1	0.27mi
86 Mansfield C Unit C Boca Raton, FL	1.0	1.5	720	$1,700	$2.36	11d	1	0.27mi
445 Mansfield K #445 Boca Raton, FL	2.0	1.5	840	$1,700	$2.02	7d	1	0.27mi
534 Mansfield M #534 Boca Raton, FL	1.0	1.5	715	$1,300	$1.82	24d	1	0.27mi
4067 Yarmouth D Boca Raton, FL	1.0	1.5	738	$1,650	$2.24	3d	1	0.30mi

HOA detail condo

• Monthly dues: $469 · $5,628/yr
• Likely covers: cablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $112,500 Active 106 DOM
2. 2026-06-17
   days on market $112,500 Active 105 DOM
3. 2026-06-16
   days on market $112,500 Active 104 DOM
4. 2026-06-15
   days on market $112,500 Active 103 DOM
5. 2026-06-13
   pricedays on market $112,500 Active 101 DOM
6. 2026-06-09
   days on market $114,999 Active 97 DOM
7. 2026-06-08
   days on market $114,999 Active 96 DOM
8. 2026-06-07
   days on market $114,999 Active 95 DOM
9. 2026-06-04
   days on market $114,999 Active 92 DOM
10. 2026-06-03
    days on market $114,999 Active 91 DOM
11. 2026-06-02
    days on market $114,999 Active 90 DOM
12. 2026-06-01
    days on market $114,999 Active 89 DOM
13. 2026-05-31
    days on market $114,999 Active 88 DOM
14. 2026-05-20
    price $114,999
15. 2026-05-04
    price $118,000
16. 2026-04-04
    price $118,999
17. 2026-03-04
    listed $129,000 Active
18. 2018-02-17
    historical
19. 2018-01-04
    price $75,000
20. 2018-01-03
    price $72,500
21. 2017-10-08
    price $75,000
22. 2017-09-01
    listed $80,000 Active
23. 2016-08-15
    soldstatus $52,500
24. 2006-08-15
    historical 250-char remark

    Show marketing remark (250 chars)

    TOP FLOOR CORNER. NEWER FRIDGE. WALK TO CLUBHOUSE. FURNISHED OR UNFURNISHED SAME PRICE. FREE BUS SERVICE. FREE CABLE TV. ACTIVE CLUBHOUSE OFFERS LIVE ENTERTAINMENT, MOVIES, CLUBS, FITNESS AREA, TENNIS, 2 OLYMPIC SIZE POOLS. CLOSE TO SHOPPING CENTERS.

25. 2006-07-31
    listed $119,000 250-char remark

    Show marketing remark (250 chars)

    TOP FLOOR CORNER. NEWER FRIDGE. WALK TO CLUBHOUSE. FURNISHED OR UNFURNISHED SAME PRICE. FREE BUS SERVICE. FREE CABLE TV. ACTIVE CLUBHOUSE OFFERS LIVE ENTERTAINMENT, MOVIES, CLUBS, FITNESS AREA, TENNIS, 2 OLYMPIC SIZE POOLS. CLOSE TO SHOPPING CENTERS.

26. 2001-10-29
    soldstatus $48,000
27. 1998-09-21
    soldstatus $32,000

ⓘ 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: $1,923 · $160/mo
• Projected year-2 tax: $1,923 · $160/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 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: $23,083
• − Mortgage interest: −$6,302
• − Property taxes: −$1,923
• − Insurance: −$562
• − Repairs & maintenance: −$1,847
• − Management: −$1,847
• − HOA: −$5,628
• − Depreciation: −$3,273
• Taxable income: $1,702
• Est. tax owed @ 24.0%: −$408
• After-tax cash flow: $2,634/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): 21,686
• Household income: $77,269
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 812.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 18% Two or more races 13% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 9% Scotch-Irish 8% Italian 2%
• Foreign-born: 25% · Canada, Jamaica, South Korea
• Languages at home: 73% English-only · Spanish 15% Other Indo-European 4% Russian/Polish/Slavic 1%

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: ▼ -279.89%
• Current HPI: 271.1328
• Rent YoY: ▲ 1.81%
• 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

+259.4% since first listed

14 events — show timeline

• 2026-05-20 Price Changed $114,999 Beaches MLS
• 2026-05-04 Price Changed $118,000 Beaches MLS
• 2026-04-04 Price Changed $118,999 Beaches MLS
• 2026-03-04 Listed $129,000 Beaches MLS
• 2018-02-17 Listing Removed — Beaches MLS
• 2018-01-04 Price Changed $75,000 Beaches MLS
• 2018-01-03 Price Changed $72,500 Beaches MLS
• 2017-10-08 Price Changed $75,000 Beaches MLS
• 2017-09-01 Listed $80,000 Beaches MLS
• 2016-08-15 Sold (Public Records) $52,500 Public Records
• 2006-08-15 Listing Removed — Beaches MLS
• 2006-07-31 Listed $119,000 Beaches MLS
• 2001-10-29 Sold (Public Records) $48,000 Public Records
• 1998-09-21 Sold (Public Records) $32,000 Public Records

Property tax history

+7.3%/yr

Latest (2025): $1,923 · -0.1% YoY. Source: county tax records.