7485 Glendevon Ln #1108 · Boca Raton, FL 33446

$369,900

3 bd · 3.0 ba · 2,025 sqft · Condo public records · 66 Days on market

Built 1985 $786/mo HOA · 17% 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Appreciation +5.3/10.0
• DSCR +4.6/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Listing remarks

Largest condo in the prestigious GlenEagles neighborhood! This spacious 3-bedroom, 3-bath residence offers stunning views of the lush tropical pool area and features elegant interior finishes throughout. Enjoy the wraparound patio with beautiful night lighting perfect for entertaining or relaxing with a glass of wine. GlenEagles boasts two championship 18-hole golf courses, 19 newly renovated Har-Tru tennis courts with night lighting, 8 pickleball courts, and 8 sparkling community pools. The impressive 90,000-square-foot clubhouse includes three exceptional restaurants serving gourmet cuisine and will soon begin an $11 million renovation. Additional amenities include inviting card rooms, co

Key facts

• Pickleball courts
• Tropical pool area
• Wraparound patio

Tags

• WRAPAROUND PATIO
• TROPICAL POOL AREA
• CHAMPIONSHIP GOLF COURSES
• HAR-TRU TENNIS COURTS
• PICKLEBALL COURTS
• COMMUNITY POOLS

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $370k.

Deal economics

• At list price, monthly cash flow is $115 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $370k).
• Recommended offer: $348k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.7% 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.

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: Orchard View Elementary School (math 48% / reading 47%, grade D, #1,182 of 2,144 statewide, top 55%, 596 students, 76% FRL); Carver Middle School (math 22% / reading 34%, grade F, #486 of 571 statewide, top 86%, 732 students, 73% FRL); Spanish River Community High School (math 64% / reading 74%, grade B, #63 of 667 statewide, top 10%, 2,578 students, 25% FRL).
• Market conditions: Rents flat; 586 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).
• At $4,502/mo this rent would consume 67% of the median local household income ($80k/yr) (locally 494% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $5k of equity ($3k loan paydown + $3k appreciation (0.7% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• 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 $347,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.22% ✓
• Cap rate: 6.67%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.69% appreciation · 0.51% rent growth · sell at horizon

5-year hold

• IRR: -0.4%
• Equity multiple: 0.98×
• Total profit: $-1,774
• Equity at exit: $120,286

10-year hold

• IRR: 2.7%
• Equity multiple: 1.29×
• Total profit: $30,039
• Equity at exit: $155,313

Cash invested: $103,572 (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 33446

• Home prices YoY: 0.3%
• Rents YoY: 0.5%
• Active inventory: 586
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $4,502 high
• Mortgage (P&I): −$1,940
• Tax from tax record: −$562 /mo · $6,739/yr
• Insurance: −$154
• HOA: −$786
• Vacancy / Maint / Mgmt: −$945
• Net cashflow: $115

Break-even live

Break-even rent $4,356

Max offer price $369,900

Occupancy floor 92%

Sensitivity live

Price	-10% $325	-5% $220	+0% $115	+5% $10	+10% $-94
Rent	-10% $-241	-5% $-63	+0% $115	+5% $293	+10% $471
Rate	-1.0pp $301	-0.5pp $209	base $115	+0.5pp $19	+1.0pp $-78

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: $92,475
• Closing costs: $11,097
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15694 Loch Maree Ln #5903 Delray Beach, FL	2.0	2.0	1705	$9,000	$5.28	17d	1	0.28mi
15711 Loch Maree Ln #4702 Delray Beach, FL	2.0	2.0	1688	$10,000	$5.92	26d	1	0.33mi
15426 Fiorenza Cir Delray Beach, FL	2.0	2.0	1883	$3,750	$1.99	10d	1	0.36mi
15323 Fiorenza Cir Delray Beach, FL	2.0	2.0	2057	$6,000	$2.92	26d	1	0.42mi
7512 Eagle Point Dr Delray Beach, FL	3.0	2.0	1463	$4,000	$2.73	6d	1	0.50mi
7512 Eagle Point Dr Delray Beach, FL	3.0	2.0	1461	$4,000	$2.74	1d	1	0.50mi
7512 Eagle Point Dr Unit 7512 Delray Beach, FL	3.0	2.0	1463	$4,000	$2.73	21d	1	0.50mi
7657 Lexington Club Blvd Delray Beach, FL	3.0	2.0	1645	$4,500	$2.74	26d	1	0.51mi
15845 Vivanco St Delray Beach, FL	3.0	2.5	2149	$4,000	$1.86	26d	1	0.52mi
16032 Lomond Hills Trl #152 Delray Beach, FL	2.0	2.0	1415	$10,000	$7.07	23d	1	0.53mi
15018 Three Ponds Trl Delray Beach, FL	3.0	2.0	1703	$4,150	$2.44	26d	1	0.87mi
15018 Three Ponds Trl Delray Beach, FL	3.0	2.0	1703	$4,150	$2.44	14d	1	0.87mi
14856 Barletta Way Delray Beach, FL	2.0	2.0	1406	$3,200	$2.28	26d	1	1.00mi
14624 Three Ponds Trl Delray Beach, FL	3.0	2.0	1411	$3,250	$2.30	20d	1	1.22mi
6197 Caladium Rd Delray Beach, FL	2.0	2.0	1427	$4,000	$2.80	26d	1	1.33mi
16089 Poppyseed Cir #2006 Delray Beach, FL	3.0	2.5	1652	$3,200	$1.94	26d	1	1.35mi
14184 Rock Salt Rd Delray Beach, FL	4.0	3.0	2305	$5,450	$2.36	26d	1	1.40mi
6550 Country Wood Way Delray Beach, FL	3.0	2.0	1408	$4,000	$2.84	26d	1	1.42mi
6550 Country Wood Way Delray Beach, FL	3.0	2.0	1408	$4,000	$2.84	7d	1	1.42mi
6549 Sleepy Willow Way #6549 Delray Beach, FL	3.0	2.0	1729	$6,000	$3.47	26d	1	1.47mi
16129 Poppyseed Cir #1603 Delray Beach, FL	3.0	2.5	1652	$3,350	$2.03	23d	1	1.47mi
16129 Poppyseed Cir #1603 Delray Beach, FL	3.0	2.5	1652	$3,250	$1.97	5d	1	1.47mi
6579 Country Wood Way Delray Beach, FL	4.0	2.0	1914	$4,100	$2.14	1d	1	1.47mi
6108 Petunia Rd Delray Beach, FL	2.0	2.0	1532	$4,500	$2.94	26d	1	1.48mi
14131 Rock Salt Rd Delray Beach, FL	3.0	2.0	1490	$4,800	$3.22	4d	1	1.49mi
14131 Rock Salt Rd Delray Beach, FL	3.0	2.0	1490	$4,800	$3.22	1d	1	1.49mi

HOA detail condo

• Monthly dues: $786 · $9,432/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-04-19
   status Pending
2. 2026-02-11
   listed $369,900 Active
3. 2024-12-17
   historical $8,499
4. 2024-11-10
   price $8,499
5. 2024-10-05
   listed $9,000
6. 2023-03-31
   historical
7. 2023-01-25
   price $439,900
8. 2022-10-14
   listed $465,000 Active
9. 2022-10-07
   historical
10. 2022-04-07
    soldstatus $349,000
11. 2005-06-02
    soldstatus $255,000
12. 1995-04-04
    soldstatus $125,000

ⓘ 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: $6,739 · $562/mo
• Projected year-2 tax: $6,739 · $562/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 4/10 Moderate
• 🌡 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: $54,026
• − Mortgage interest: −$20,720
• − Property taxes: −$6,739
• − Insurance: −$1,850
• − Repairs & maintenance: −$4,322
• − Management: −$4,322
• − HOA: −$9,432
• − Depreciation: −$10,761
• Taxable loss: −$4,120
• Est. tax savings @ 24.0%: +$989
• After-tax cash flow: $2,371/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): 28,431
• Household income: $80,187
• Rent vs Own: 11.4% rent · 88.6% own
• Severe rent burden: 494.0

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 13% Two or more races 9% Black 4%
• Hispanic origin (detail): Puerto Rican 3% Dominican 1%
• Common ancestry: Romanian 9% Scotch-Irish 9% Italian 2%
• Foreign-born: 20% · Canada, Jamaica, Guatemala
• Languages at home: 80% English-only · Spanish 12% Other Indo-European 2% French/Haitian/Cajun 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: ▲ 0.69%
• Current HPI: 242.5138
• Rent YoY: ▲ 0.51%
• 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

+195.9% since first listed

12 events — show timeline

• 2026-04-19 Pending — Beaches MLS
• 2026-02-11 Listed $369,900 Beaches MLS
• 2024-12-17 Rental Removed $8,499 RMLSFL
• 2024-11-10 Price Changed $8,499 RMLSFL
• 2024-10-05 Listed for Rent $9,000 RMLSFL
• 2023-03-31 Listing Removed — Beaches MLS
• 2023-01-25 Price Changed $439,900 Beaches MLS
• 2022-10-14 Listed $465,000 Beaches MLS
• 2022-10-07 Coming Soon — Beaches MLS
• 2022-04-07 Sold (Public Records) $349,000 Public Records
• 2005-06-02 Sold (Public Records) $255,000 Public Records
• 1995-04-04 Sold (Public Records) $125,000 Public Records

Property tax history

+8.0%/yr

Latest (2025): $6,739 · +11.7% YoY. Source: county tax records.