191 E Preston E #191 · Boca Raton, FL 33434

$85,000

1 bd · 1.5 ba · 720 sqft · Manufactured · 200 Days on market

Built 1980 $722/mo HOA · 42% 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 +15.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• 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

Beautifully remodeled unit. Wood floor, new kitchen, updated bathrooms. Spacious living room. A must see.

Key facts

• Updated floors
• Updated kitchen
• $722 HOA

Tags

• UPDATED FLOORS
• UPDATED KITCHEN
• UNIT ENTRANCE FACES CANAL

Property features AI

Finance

• Other: Pets allowed (dogs OK)
• Financial info: Association fee: $722 monthly
• HOA & community: Monthly association fee; Association fee includes cable TV; Community amenities: Clubhouse, Fitness Center, Trails, Transportation Service; Senior community

Exterior

• Parking: Assigned parking (one space)
• Security: Complex fenced; Security guard
• Utilities: Cable available
• Home design: Attached property; 3 stories; Entry on 3rd floor
• Construction: Block construction; Year built: Unknown
• Exterior features: Fence; Patio

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Flooring: Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Third-floor entry; Laminate flooring; Has view
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath manufactured listed at $85k.

Deal economics

• At list price, monthly cash flow is $37 ($442/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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: 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); 421 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $588 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 200 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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.
• Current owner paid $47k; list at $85k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 42% 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 $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 200 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.00% ✓
• Cap rate: 6.81%
• Cash-on-cash: 1.86%
• DSCR: 1.08
• GRM: 4.2

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: -15.6%
• Equity multiple: 0.45×
• Total profit: $-12,976
• Equity at exit: $12,674

10-year hold

• IRR: -11.1%
• Equity multiple: 0.39×
• Total profit: $-14,452
• Equity at exit: $7,349

Cash invested: $23,800 (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: 421
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,704 high
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$722
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $37

Break-even live

Break-even rent $1,657

Max offer price $85,000

Occupancy floor 93%

Sensitivity live

Price	-10% $96	-5% $66	+0% $37	+5% $7	+10% $-22
Rent	-10% $-98	-5% $-30	+0% $37	+5% $104	+10% $171
Rate	-1.0pp $80	-0.5pp $58	base $37	+0.5pp $15	+1.0pp $-8

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: $21,250
• Closing costs: $2,550
• 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	$1,350	$2.25	9d	1	0.03mi
77 Preston Way #77 Boca Raton, FL	1.0	1.0	600	$1,450	$2.42	23d	1	0.03mi
4014 Newcastle A Unit A Boca Raton, FL	1.0	1.5	738	$1,495	$2.03	25d	1	0.17mi
91 Preston Way Unit 91 Boca Raton, FL	1.0	1.0	600	$1,500	$2.50	25d	1	0.18mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,300	$1.81	3d	1	0.18mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,350	$1.88	25d	1	0.18mi
534 Mansfield M #534 Boca Raton, FL	1.0	1.5	715	$1,300	$1.82	25d	1	0.20mi
86 Mansfield C Unit C Boca Raton, FL	1.0	1.5	720	$1,700	$2.36	13d	1	0.20mi
517 Mansfield M Unit 517 Boca Raton, FL	1.0	1.5	715	$1,550	$2.17	25d	1	0.24mi
202 Mansfield E Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	0d	1	0.25mi
457 Mansfield I Unit 457 Boca Raton, FL	1.0	1.5	720	$1,700	$2.36	4d	1	0.25mi
250 Suffolk F #250 Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	4d	1	0.28mi
171 Suffolk F #171 Boca Raton, FL	1.0	1.5	720	$1,500	$2.08	12d	1	0.28mi
209 Suffolk F Unit F Boca Raton, FL	1.0	1.5	720	$1,400	$1.94	25d	1	0.28mi
68 Suffolk F Unit 68 Boca Raton, FL	1.0	1.5	720	$2,750	$3.82	25d	1	0.28mi
474 Mansfield L Unit L Boca Raton, FL	1.0	1.5	720	$1,400	$1.94	12d	1	0.30mi
3031 Cornwall B Boca Raton, FL	1.0	1.5	738	$1,550	$2.10	25d	1	0.35mi
4067 Yarmouth D Boca Raton, FL	1.0	1.5	738	$1,650	$2.24	4d	1	0.35mi
1072 Yarmouth E #1072 Boca Raton, FL	1.0	1.5	738	$1,950	$2.64	25d	1	0.36mi
4074 Cornwall D Boca Raton, FL	1.0	1.5	738	$1,450	$1.96	25d	1	0.38mi
3070 Cornwall D Boca Raton, FL	1.0	1.5	738	$3,200	$4.34	25d	1	0.40mi
2052 Cornwall Dr Unit 2052 Boca Raton, FL	1.0	1.5	738	$3,150	$4.27	25d	1	0.40mi
3014 Cornwall a Boca Raton, FL	1.0	1.5	738	$1,775	$2.41	3d	1	0.40mi
3014 Cornwall a Boca Raton, FL	1.0	1.5	738	$1,650	$2.24	3d	1	0.40mi
4008 Cornwall a Boca Raton, FL	1.0	1.5	738	$1,600	$2.17	25d	1	0.46mi
147 Fanshaw D Boca Raton, FL	1.0	1.0	601	$1,350	$2.25	25d	1	0.48mi
119 Fanshaw C Unit 119 Boca Raton, FL	1.0	1.0	585	$1,299	$2.22	25d	1	0.48mi
454 Fanshaw K Unit K Boca Raton, FL	1.0	1.5	715	$1,500	$2.10	16d	1	0.48mi
96 Fanshaw C Boca Raton, FL	1.0	1.5	702	$1,500	$2.14	0d	1	0.48mi
8 Fanshaw Dr Unit 8 Boca Raton, FL	1.0	1.0	585	$1,300	$2.22	9d	1	0.51mi
321 Dorset Dr Boca Raton, FL	1.0	1.5	720	$1,590	$2.21	25d	1	0.54mi
314 Brighton H Unit H Boca Raton, FL	1.0	1.5	720	$1,500	$2.08	15d	1	0.60mi
251 Brighton F Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	25d	1	0.60mi
129 Brighton D Boca Raton, FL	1.0	1.5	720	$1,300	$1.81	25d	1	0.60mi
359 Brighton I Unit I Boca Raton, FL	1.0	1.5	735	$1,550	$2.11	25d	1	0.60mi
251 Brighton Dr Unit 251 Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	9d	1	0.62mi
156 Brighton Dr Unit 156 Boca Raton, FL	1.0	1.5	720	$1,350	$1.88	25d	1	0.62mi
82 Fanshaw Dr Unit 82 Boca Raton, FL	1.0	1.5	702	$1,250	$1.78	25d	1	0.63mi
119 Dorset Dr Unit 119 Boca Raton, FL	1.0	1.0	600	$1,400	$2.33	25d	1	0.63mi
22 Brighton Dr Unit 22 Boca Raton, FL	1.0	1.0	600	$1,300	$2.17	9d	1	0.64mi

HOA detail

• Monthly dues: $722 · $8,664/yr

Listing history 32 events

1. 2026-06-21
   days on market $85,000 Active 200 DOM
2. 2026-06-18
   days on market $85,000 Active 197 DOM
3. 2026-06-17
   days on market $85,000 Active 196 DOM
4. 2026-06-16
   days on market $85,000 Active 195 DOM
5. 2026-06-15
   days on market $85,000 Active 194 DOM
6. 2026-06-13
   days on market $85,000 Active 192 DOM
7. 2026-06-09
   days on market $85,000 Active 188 DOM
8. 2026-06-07
   days on market $85,000 Active 186 DOM
9. 2026-06-04
   days on market $85,000 Active 183 DOM
10. 2026-06-03
    days on market $85,000 Active 182 DOM
11. 2026-06-01
    days on market $85,000 Active 180 DOM
12. 2026-05-31
    days on market $85,000 Active 179 DOM
13. 2025-12-03
    listed $85,000 Active
14. 2018-11-06
    historical
15. 2018-10-08
    price $60,000
16. 2018-06-26
    listed $65,000 Active
17. 2015-10-09
    soldstatus $47,000 Closed 105-char remark

    Show marketing remark (105 chars)

    Beautifully remodeled unit. Wood floor, new kitchen, updated bathrooms. Spacious living room. A must see.

18. 2015-09-17
    status Pending 105-char remark

    Show marketing remark (105 chars)

    Beautifully remodeled unit. Wood floor, new kitchen, updated bathrooms. Spacious living room. A must see.

19. 2015-08-18
    price $51,900 105-char remark

    Show marketing remark (105 chars)

    Beautifully remodeled unit. Wood floor, new kitchen, updated bathrooms. Spacious living room. A must see.

20. 2015-07-02
    price $54,900 105-char remark

    Show marketing remark (105 chars)

    Beautifully remodeled unit. Wood floor, new kitchen, updated bathrooms. Spacious living room. A must see.

21. 2015-06-06
    listed $59,900 Active 105-char remark

    Show marketing remark (105 chars)

    Beautifully remodeled unit. Wood floor, new kitchen, updated bathrooms. Spacious living room. A must see.

22. 2015-05-18
    historical
23. 2015-05-06
    price $52,900
24. 2015-04-22
    listed $54,900 Active
25. 2013-07-16
    soldstatus $18,000 Closed
26. 2013-06-22
    status Pending
27. 2013-06-10
    status Pending
28. 2013-05-22
    price $19,900 Price Change
29. 2013-05-13
    price $20,900
30. 2013-05-07
    price $23,500 Price Change
31. 2013-04-20
    price $24,900 Price Change
32. 2013-01-29
    listed $26,400 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $20,449
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,636
• − Management: −$1,636
• − HOA: −$8,664
• − Depreciation: −$2,473
• Taxable loss: −$421
• Est. tax savings @ 24.0%: +$101
• After-tax cash flow: $543/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

+222.0% since first listed

20 events — show timeline

• 2025-12-03 Listed $85,000 MARMLS
• 2018-11-06 Listing Removed — Beaches MLS
• 2018-10-08 Price Changed $60,000 Beaches MLS
• 2018-06-26 Listed $65,000 Beaches MLS
• 2015-10-09 Sold (MLS) $47,000 Beaches MLS
• 2015-09-17 Pending — Beaches MLS
• 2015-08-18 Price Changed $51,900 Beaches MLS
• 2015-07-02 Price Changed $54,900 Beaches MLS
• 2015-06-06 Listed $59,900 Beaches MLS
• 2015-05-18 Listing Removed — Beaches MLS
• 2015-05-06 Price Changed $52,900 Beaches MLS
• 2015-04-22 Listed $54,900 Beaches MLS
• 2013-07-16 Sold (MLS) $18,000 Beaches MLS
• 2013-06-22 Pending — Beaches MLS
• 2013-06-10 Pending — Beaches MLS
• 2013-05-22 Price Changed $19,900 Beaches MLS
• 2013-05-13 Price Changed $20,900 Beaches MLS
• 2013-05-07 Price Changed $23,500 Beaches MLS
• 2013-04-20 Price Changed $24,900 Beaches MLS
• 2013-01-29 Listed $26,400 Beaches MLS