6217 Balboa Cir #106 · Boca Raton, FL 33433

$249,900

2 bd · 2.0 ba · 1,385 sqft · Condo public records · 51 Days on market

Built 1985 $636/mo HOA · 22% of rent

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Why this score? — see what drove the D+ 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 +16.8/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• DSCR +5.2/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

LOCATION, LOCATION, LOCATION. Rarely available ground floor, corner unit with tranquil lake and garden views in the centrally located Whitehall of Camino Real. 2 bedrooms, 2 bathrooms. Spacious laundry room + an extra den that makes for an amazing home office or storage/den. Two Private patios overlooking the lake from the living room and the primary bedroom. Spacious grass area right outside your door for dogs or loved ones to enjoy. Primary suite includes a large walk-in closet, additional linen closet, vanity space and a separate washroom. Open Living and Dinning room with crown molding. Corner unit with only a short walk to both of the community pools. Very well maintained condo with up

Key facts

• $636 HOA
• 2 parking spots
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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: Verde K-8 (math 72% / reading 74%, grade A, #271 of 2,144 statewide, top 13%, 1,296 students, 28% FRL); Boca Raton Community Middle School (math 59% / reading 61%, grade B, #135 of 571 statewide, top 24%, 1,225 students, 41% FRL); West Boca Raton High School (math 55% / reading 70%, grade B-, #93 of 667 statewide, top 14%, 2,271 students, 28% FRL) — zoned schools average 32% FRL vs 52% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 65% at this address vs 50% district-wide (+16 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 flat; 430 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 42% of the median local income ($84k/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 51 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $85k; list at $250k implies a 194% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.18% ✓
• Cap rate: 7.05%
• Cash-on-cash: 2.71%
• DSCR: 1.12
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.33% rent growth · sell at horizon

5-year hold

• IRR: -15.7%
• Equity multiple: 0.46×
• Total profit: $-37,815
• Equity at exit: $37,261

10-year hold

• IRR: -14.2%
• Equity multiple: 0.30×
• Total profit: $-48,666
• Equity at exit: $21,607

Cash invested: $69,972 (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 33433

• Rents YoY: 0.3%
• Active inventory: 430
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,947 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$119 /mo · $1,431/yr
• Insurance: −$104
• HOA: −$636
• Vacancy / Maint / Mgmt: −$619
• Net cashflow: $158

Break-even live

Break-even rent $2,747

Max offer price $249,900

Occupancy floor 90%

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6049 Balboa Cir #302 Boca Raton, FL	2.0	2.0	1385	$2,600	$1.88	21d	1	0.14mi
6372 La Costa Dr #306 Boca Raton, FL	2.0	2.0	1388	$2,750	$1.98	24d	1	0.24mi
6463 La Costa Dr #203 Boca Raton, FL	2.0	2.0	1310	$2,400	$1.83	4d	1	0.24mi
6463 La Costa Dr #301 Boca Raton, FL	2.0	2.0	1388	$2,900	$2.09	24d	1	0.24mi
22148 Boca Place Dr Boca Raton, FL	1.0–3.0	1.0–2.0	985	$2,537	$2.58	1d	22	0.26mi
22655 Camino del Mar Boca Raton, FL	3.0–5.0	2.5–3.0	2173	$4,925	$2.27	2d	11	0.31mi
5900 Camino del Sol #206 Boca Raton, FL	2.0	2.0	1230	$2,450	$1.99	24d	1	0.31mi
6530 Boca del Mar Dr #336 Boca Raton, FL	2.0	2.0	1339	$2,600	$1.94	18d	1	0.36mi
6328 Longboat Ln W #403 Boca Raton, FL	2.0	2.0	1536	$3,000	$1.95	8d	1	0.37mi
22136 Palms Way #103 Boca Raton, FL	2.0	2.0	958	$2,500	$2.61	24d	1	0.38mi
22136 Palms Way #103 Boca Raton, FL	2.0	2.0	958	$2,500	$2.61	15d	1	0.38mi
6061 Boca Colony Dr Boca Raton, FL	1.0–3.0	1.0–2.0	972	$2,289	$2.35	2d	20	0.39mi
22864 Marbella Cir Boca Raton, FL	3.0	2.0	1872	$4,500	$2.40	4d	1	0.39mi
6620 Tiburon Cir Unit 3 Boca Raton, FL	2.0	2.0	1382	$2,900	$2.10	15d	1	0.40mi
6620 Tiburon Cir Unit 3 Boca Raton, FL	2.0	2.0	1382	$2,900	$2.10	5d	1	0.40mi
5800 Camino del Sol #306 Boca Raton, FL	2.0	2.0	1230	$2,775	$2.26	24d	1	0.41mi
5851 Camino del Sol #203 Boca Raton, FL	2.0	2.0	1254	$2,800	$2.23	24d	1	0.42mi
6514 Spring Bottom Way #125 Boca Raton, FL	2.0	2.0	1500	$2,300	$1.53	11d	1	0.49mi
5749 Camino del Sol #202 Boca Raton, FL	2.0	2.0	1254	$3,000	$2.39	24d	1	0.53mi
6215 Old Court Rd #505 Boca Raton, FL	3.0	2.5	1602	$3,300	$2.06	24d	1	0.54mi
21950 Soundview Ter #209 Boca Raton, FL	2.0	2.0	950	$2,200	$2.32	8d	1	0.58mi
6397 Boca Cir Boca Raton, FL	2.0	2.5	1296	$2,300	$1.77	20d	1	0.59mi
5714 Veranda Way Unit 2 Boca Raton, FL	3.0	2.5	1640	$5,160	$3.15	24d	1	0.63mi
21951 Soundview Ter #203 Boca Raton, FL	2.0	2.0	950	$2,800	$2.95	24d	1	0.65mi
6550 Somerset Dr Unit K-104 Boca Raton, FL	2.0	2.0	950	$2,300	$2.42	24d	1	0.66mi
6875 Calle del Paz S Boca Raton, FL	3.0	2.0	1839	$4,240	$2.31	8d	1	0.68mi
5653 Stradella Dr Boca Raton, FL	3.0	2.5	1826	$5,450	$2.98	24d	1	0.70mi
5653 Stradella Dr Boca Raton, FL	3.0	2.5	1826	$5,450	$2.98	5d	1	0.70mi
5515 Pacific Blvd Boca Raton, FL	1.0–2.0	1.0–2.0	910	$2,608	$2.87	2d	22	0.71mi
5801 Coach House Cir Unit B Boca Raton, FL	2.0	2.0	1269	$2,800	$2.21	8d	1	0.72mi
5500 Pacific Blvd Boca Raton, FL	1.0–2.0	1.0–2.0	1063	$2,625	$2.47	2d	17	0.73mi
23085 Aqua Vw #3 Boca Raton, FL	3.0	2.5	1625	$3,500	$2.15	24d	1	0.74mi
6707 Via Regina Boca Raton, FL	2.0	2.0	1126	$4,000	$3.55	24d	1	0.75mi
6553 Via Regina Boca Raton, FL	2.0	2.0	1126	$3,500	$3.11	24d	1	0.75mi
6526 Via Regina Boca Raton, FL	2.0	2.0	1090	$2,750	$2.52	24d	1	0.75mi
6682 Via Regina Boca Raton, FL	3.0	3.0	1630	$3,350	$2.06	12d	1	0.75mi
6703 Via Regina Boca Raton, FL	2.0	2.0	1126	$2,700	$2.40	24d	1	0.75mi
6817 Via Regina Boca Raton, FL	3.0	2.5	1728	$4,200	$2.43	24d	1	0.75mi
6630 Via Regina Boca Raton, FL	2.0	2.0	1126	$2,500	$2.22	24d	1	0.75mi
6925 Town Harbour Blvd Boca Raton, FL	1.0–2.0	1.5–2.5	1187	$2,845	$2.40	2d	17	0.76mi

HOA detail condo

• Monthly dues: $636 · $7,632/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-04-22
   status Pending
2. 2026-03-26
   price $249,900
3. 2026-03-02
   listed $259,900 Active
4. 2026-02-23
   historical $259,900
5. 1994-05-17
   soldstatus $85,000

ⓘ 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: $1,431 · $119/mo
• Projected year-2 tax: $2,074 · $173/mo
• Expected delta: +$643/yr (+$54/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 7 d/yr ≥107°F today · 25 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,362
• − Mortgage interest: −$13,998
• − Property taxes: −$1,431
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,829
• − Management: −$2,829
• − HOA: −$7,632
• − Depreciation: −$7,270
• Taxable loss: −$1,876
• Est. tax savings @ 24.0%: +$450
• After-tax cash flow: $2,348/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): 47,005
• Household income: $84,091
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 2900.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 18% Two or more races 15% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 2% Dominican 1%
• Common ancestry: Romanian 6% Scotch-Irish 5% Russian 3%
• Foreign-born: 27% · Canada, Jamaica, China
• Languages at home: 65% English-only · Spanish 15% Other Indo-European 10% Russian/Polish/Slavic 3%

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: ▼ -227.85%
• Current HPI: 306.738
• Rent YoY: ▲ 0.33%
• 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

+194.0% since first listed

5 events — show timeline

• 2026-04-22 Pending — Beaches MLS
• 2026-03-26 Price Changed $249,900 Beaches MLS
• 2026-03-02 Listed $259,900 Beaches MLS
• 2026-02-23 Coming Soon $259,900 Beaches MLS
• 1994-05-17 Sold (Public Records) $85,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $1,431 · +4.5% YoY. Source: county tax records.