8298 Springlake Dr · Boca Raton, FL 33496

$289,000

2 bd · 2.0 ba · 1,356 sqft · Condo public records · 58 Days on market

Built 1993 $732/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 +11.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• DSCR +3.2/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0

Listing remarks

LOVELY CORNER 2 BEDS/2 BATHS VILLA situated in desirable Gated 55+ WHISPER WALK. Enjoy tranquil lake views from your spacious Florida room. Villa is bright & features an eat-in kitchen, appealing split-bedroom floor plan, 2 full baths and garage with 2 parking spaces in front. NEW ROOF installed March 2026, assessment paid by sellers. Whisper Walk 55+ Community is active, beautifully maintained with lush landscaping, scenic lakes & wide grassy parks. Amenities include internet, cable, water, insurance on outside, 6 pickleball courts, 7 tennis courts (can be lit for evening play), clubhouse, large pool & spa, sauna, fitness center, billiards room & library. Located in

Key facts

• $732 HOA
• Garage
• Community pool

Property features AI

Finance

• Other: Senior community; Pets not allowed
• HOA & community: Has association: WHISPER WALK/PARKSHORE; Quarterly HOA fee; HOA fee includes cable TV, internet, grounds maintenance, security, sewer, trash, water, common areas, reserve funds, roof repairs and recreation facility; Community amenities: clubhouse, fitness center, pool, sauna, spa/hot tub, tennis courts, pickleball courts, billiard room, library, sidewalks, management, manager on site, internet included

Exterior

• Parking: Attached 1-car garage plus covered space; 2 open parking spaces (3 total parking spaces)
• Security: Gated community; Security patrol; Security gate
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Water available
• Home design: Condominium; One story; Resale property; Faces south; Builder model: CHATEAU
• Construction: CBS construction
• Exterior features: Waterfront location; Shingle roof

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Entrance foyer; Split bedroom layout; Negotiable furnishings
• Laundry & utility: Interior laundry room; Washer/dryer in unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $289k.

Deal economics

• At list price, monthly cash flow is $-115 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (7.0% below list).
• Meets the 1% rule at list price ($3k rent vs $289k).
• Recommended offer: $269k (7.0% below list) — sets the bar for cash-flow.
• Cap rate 5.8% 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: 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); 324 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 32% 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 $31k of equity ($2k loan paydown + $29k 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 ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($280k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $109k; list at $289k implies a 165% 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 4→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $268,693 (7.0% 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. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
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: 1.05% ✓
• Cap rate: 5.82%
• Cash-on-cash: -1.70%
• DSCR: 0.92
• GRM: 8.0

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: 22.8%
• Equity multiple: 2.83×
• Total profit: $148,347
• Equity at exit: $260,354

10-year hold

• IRR: 20.2%
• Equity multiple: 6.43×
• Total profit: $439,211
• Equity at exit: $561,463

Cash invested: $80,920 (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: 324
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $3,026 high
• Mortgage (P&I): −$1,516
• Tax from tax record: −$138 /mo · $1,654/yr
• Insurance: −$120
• HOA: −$732
• Vacancy / Maint / Mgmt: −$636
• Net cashflow: $-115

Break-even live

Break-even rent $3,172

Max offer price $268,693

Occupancy floor 99%

Sensitivity live

Price	-10% $49	-5% $-33	+0% $-115	+5% $-197	+10% $-279
Rent	-10% $-354	-5% $-234	+0% $-115	+5% $5	+10% $124
Rate	-1.0pp $31	-0.5pp $-41	base $-115	+0.5pp $-190	+1.0pp $-266

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8146 Windgate Dr Boca Raton, FL	2.0	2.0	1310	$5,000	$3.82	24d	1	0.18mi
18428 Via Di Regina #18428 Boca Raton, FL	3.0	2.0	1544	$3,900	$2.53	24d	1	0.25mi
18475 Via Di Sorrento Boca Raton, FL	3.0	2.0	1544	$4,095	$2.65	8d	1	0.26mi
8664 Jasmine Way Boca Raton, FL	2.0	2.0	1162	$1,795	$1.54	24d	1	0.31mi
8550 Via Romana Boca Raton, FL	3.0	2.0	1778	$3,500	$1.97	11d	1	0.31mi
18434 Via Di Sorrento Boca Raton, FL	3.0	2.0	1480	$3,495	$2.36	8d	1	0.31mi
8550 Via Romana #2 Boca Raton, FL	3.0	2.0	1778	$3,500	$1.97	22d	1	0.31mi
8550 Via Romana #2 Boca Raton, FL	3.0	2.0	1778	$3,500	$1.97	24d	1	0.31mi
8705 Via Giula #4 Boca Raton, FL	3.0	2.0	1477	$3,500	$2.37	24d	1	0.47mi
8705 Via Giula #4 Boca Raton, FL	3.0	2.0	1477	$3,400	$2.30	15d	1	0.47mi
9708 Erica Ct Boca Raton, FL	2.0	2.0	1410	$4,800	$3.40	24d	1	0.55mi
18890 Candlewick Dr Unit B Boca Raton, FL	2.0	2.0	1044	$2,600	$2.49	24d	1	0.61mi
18855 Candlewick Dr Boca Raton, FL	2.0	2.0	1022	$2,600	$2.54	24d	1	0.61mi
18595 Egret Way #18595 Boca Raton, FL	2.0	2.0	1000	$2,200	$2.20	24d	1	0.63mi
1025 Newcastle B #1025 Boca Raton, FL	2.0	2.0	896	$1,800	$2.01	17d	1	0.63mi
2017 Newcastle A Unit 2017 Boca Raton, FL	2.0	2.0	896	$1,850	$2.06	24d	1	0.63mi
4030 Rexford A Unit 403 Boca Raton, FL	2.0	2.0	896	$1,700	$1.90	8d	1	0.64mi
4030 Rexford A Unit 403 Boca Raton, FL	2.0	2.0	896	$1,850	$2.06	24d	1	0.64mi
4278 NW 65th Rd Boca Raton, FL	3.0	2.0	1607	$16,500	$10.27	11d	1	0.65mi
2039 Rexford C Boca Raton, FL	2.0	2.0	896	$1,550	$1.73	24d	1	0.67mi
4030 Rexford B Boca Raton, FL	2.0	2.0	916	$1,700	$1.86	19d	1	0.67mi
1030 Rexford B Boca Raton, FL	2.0	2.0	896	$1,800	$2.01	24d	1	0.67mi
3049 Wolverton E Unit 3049 Boca Raton, FL	2.0	2.0	896	$2,200	$2.46	8d	1	0.68mi
4049 Wolverton C Unit C Boca Raton, FL	2.0	2.0	896	$2,500	$2.79	2d	1	0.70mi
4047 Lincoln C Unit C Boca Raton, FL	2.0	2.0	916	$2,100	$2.29	5d	1	0.71mi
4019 Lincoln A Unit A Boca Raton, FL	2.0	2.0	896	$1,600	$1.79	24d	1	0.72mi
3049 Wolverton C #3049 Boca Raton, FL	2.0	2.0	896	$2,200	$2.46	8d	1	0.75mi
4007 Yarmouth a Boca Raton, FL	2.0	2.0	1132	$2,200	$1.94	24d	1	0.76mi
9110 Fairbanks Ln #4 Boca Raton, FL	2.0	2.0	1227	$2,400	$1.96	24d	1	0.83mi
2044 Hythe C Boca Raton, FL	2.0	2.0	896	$1,825	$2.04	24d	1	0.84mi
2050 Hythe C Boca Raton, FL	2.0	2.0	880	$3,200	$3.64	24d	1	0.87mi
3032 Hythe A Unit 3032 Boca Raton, FL	2.0	2.0	896	$1,575	$1.76	24d	1	0.88mi
9104 Affirmed Ln Boca Raton, FL	3.0	2.0	1266	$3,210	$2.54	2d	1	0.88mi
4039 Exeter C Boca Raton, FL	2.0	1.5	880	$1,500	$1.70	24d	1	0.91mi
1047 Exeter C Boca Raton, FL	2.0	1.5	880	$1,850	$2.10	21d	1	0.91mi
18730 Stewart Cir #5 Boca Raton, FL	2.0	2.0	1227	$2,500	$2.04	24d	1	0.92mi
3080 Cornwall D Boca Raton, FL	2.0	1.5	880	$2,100	$2.39	15d	1	0.96mi
3080 Cornwall D Boca Raton, FL	2.0	1.5	880	$2,300	$2.61	24d	1	0.96mi
9190 Boca Gardens Pkwy Unit B Boca Raton, FL	3.0	2.5	1845	$3,500	$1.90	24d	1	0.98mi
108 Fanshaw C Boca Raton, FL	2.0	1.5	924	$1,700	$1.84	24d	1	0.99mi

HOA detail condo

• Monthly dues: $732 · $8,784/yr
• Likely covers: waterinternetcablelandscapingpoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-01
   status $289,000 Pending 58 DOM
2. 2026-05-31
   days on market $289,000 Active 58 DOM
3. 2026-05-19
   price $289,000
4. 2026-04-03
   listed $295,000 Active
5. 1993-05-14
   soldstatus $109,000

ⓘ 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: $1,654 · $138/mo
• Projected year-2 tax: $2,399 · $200/mo
• Expected delta: +$745/yr (+$62/mo · 45.0%)

ⓘ 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 4 d/yr ≥107°F today · 13 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: $36,316
• − Mortgage interest: −$16,188
• − Property taxes: −$1,654
• − Insurance: −$1,445
• − Repairs & maintenance: −$2,905
• − Management: −$2,905
• − HOA: −$8,784
• − Depreciation: −$8,407
• Taxable loss: −$5,973
• Est. tax savings @ 24.0%: +$1,433
• After-tax cash flow: $54/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

Price history

+165.1% since first listed

3 events — show timeline

• 2026-05-19 Price Changed $289,000 Beaches MLS
• 2026-04-03 Listed $295,000 Beaches MLS
• 1993-05-14 Sold (Public Records) $109,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $1,654 · +3.8% YoY. Source: county tax records.