400 NE 20th St Unit C311 · Boca Raton, FL 33431

$234,900

2 bd · 2.0 ba · 1,014 sqft · Condo public records · 97 Days on market

Built 1966 $528/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 +21.0/30.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• Schools +4.3/10.0
• Rent growth +4.2/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

MOTIVATEDSELLER!!!Charming and affordable living in this renowned East Boca location! take the elevator to this immaculate 2BED/2Bath condo in the desirable 55+ community. Less than a mile from the beach and steps to the 5th Avenue Shops, and dining. Minutes away from Mizner Park, offering chic boutiques, dining and a movie theater. This Light bright and open floor plan is completely updated. Tile floors throughout. Custom remote controlled blinds. One of the lucky owners who have covered parking. Community features lush gardens, a heated pool, shuffleboard, BBQ area, Library and a welcoming Clubhouse offering a variety of organized activities. HOA includes cable, water & internet. L

Key facts

• Updated floor plan
• Tile floors
• East boca location

Tags

• EAST BOCA LOCATION
• STEPS TO 5TH AVENUE SHOPS
• MINUTES FROM MIZNER PARK
• UPDATED FLOOR PLAN
• TILE FLOORS
• REMOTE CONTROLLED BLINDS

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Association: Boca Verde East Condo; Monthly HOA fee of $528; HOA covers grounds and building maintenance, sewer, trash, water, elevator, and pool service; Community amenities include pool, fitness center, clubhouse, billiard room, business center, community room, library, storage, bike storage, and car wash area; Senior community

Exterior

• Parking: Carport (1 covered space)
• Security: Fire alarm
• Utilities: Public water; Public sewer
• Home design: Condominium; One-level living; Resale property; 3-story building
• Construction: Block/CBS construction
• Exterior features: Porch with glass-enclosed area; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Disposal; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Split bedroom layout; Unfurnished

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $332 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $214k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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: 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 fast (+6.8%/yr); 178 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); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 34% of the median local income ($108k/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.
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $66k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($214k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $102k; list at $235k implies a 129% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $213,759 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.30% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.06%
• DSCR: 1.27
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.83% rent growth · sell at horizon

5-year hold

• IRR: -1.7%
• Equity multiple: 0.93×
• Total profit: $-4,328
• Equity at exit: $35,024

10-year hold

• IRR: 12.5%
• Equity multiple: 2.20×
• Total profit: $79,238
• Equity at exit: $20,310

Cash invested: $65,772 (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 33431

• Rents YoY: 6.8%
• Active inventory: 178
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $3,063 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$230 /mo · $2,759/yr
• Insurance: −$98
• HOA: −$528
• Vacancy / Maint / Mgmt: −$643
• Net cashflow: $332

Break-even live

Break-even rent $2,643

Max offer price $234,900

Occupancy floor 84%

Sensitivity live

Price	-10% $465	-5% $399	+0% $332	+5% $266	+10% $199
Rent	-10% $90	-5% $211	+0% $332	+5% $453	+10% $574
Rate	-1.0pp $450	-0.5pp $392	base $332	+0.5pp $271	+1.0pp $209

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 NE 20th St #3030 Boca Raton, FL	2.0	2.0	1080	$2,500	$2.31	24d	1	0.19mi
250 NE 20th St #4190 Boca Raton, FL	2.0	2.0	1080	$4,000	$3.70	24d	1	0.19mi
1401 N Federal Hwy Unit 4024370 Boca Raton, FL	1.0	1.5	960	$2,000	$2.08	24d	1	0.19mi
541 NE 18th St Boca Raton, FL	2.0	2.0	1221	$4,300	$3.52	24d	1	0.22mi
235 NE 20th St Boca Raton, FL	2.0	2.0	1204	$4,250	$3.53	18d	1	0.22mi
200 NE 20th St Boca Raton, FL	1.0–2.0	1.0	784	$2,350	$3.00	22d	3	0.26mi
2325 NE 4th Ave Boca Raton, FL	3.0	2.0	1241	$4,000	$3.22	24d	1	0.30mi
2499 NE 2nd Ave Unit B Boca Raton, FL	2.0	1.0	1454	$2,500	$1.72	2d	1	0.53mi
2500 N Federal Hwy Boca Raton, FL	1.0	1.0	750	$2,040	$2.72	22d	1	0.56mi
2500 N Federal Hwy Boca Raton, FL	2.0	2.0	1200	$2,550	$2.12	24d	1	0.56mi
2751 NE 26th Ter Boca Raton, FL	3.0	2.0	1454	$4,495	$3.09	24d	1	0.63mi
198 NE 28th St Boca Raton, FL	2.0	1.0	840	$2,350	$2.80	17d	1	0.67mi
196 NE 28th St Boca Raton, FL	2.0	2.0	840	$2,650	$3.15	17d	1	0.67mi
196 NE 28th St Boca Raton, FL	2.0	2.0	950	$2,600	$2.74	8d	1	0.67mi
260 NW 19th St #27 Boca Raton, FL	2.0	1.0	750	$2,000	$2.67	5d	1	0.69mi
260 NW 19th St #290 Boca Raton, FL	2.0	1.0	750	$1,950	$2.60	24d	1	0.70mi
101 NE 28th St Boca Raton, FL	3.0	2.5	1400	$2,995	$2.14	8d	1	0.70mi
1798 NW 15th Vis Unit 5 Boca Raton, FL	2.0	1.0	1000	$2,695	$2.69	24d	1	0.70mi
289 NW 19th St Boca Raton, FL	1.0	1.0	720	$1,745	$2.42	24d	1	0.71mi
1908 NW 4th Ave Boca Raton, FL	1.0–3.0	1.0–2.0	820	$2,345	$2.86	24d	1	0.72mi
2824 N Dixie Hwy Unit 2824 Boca Raton, FL	2.0	2.0	1184	$2,450	$2.07	15d	1	0.74mi
399 NW 19th St Boca Raton, FL	2.0	2.0	1000	$2,000	$2.00	24d	1	0.76mi
1800 NW 4th Ave Boca Raton, FL	2.0	1.5	880	$4,000	$4.55	24d	1	0.78mi
1314 NW 2nd Cir Boca Raton, FL	3.0	2.0	1382	$3,500	$2.53	17d	1	0.79mi
330 NW 20th St Boca Raton, FL	2.0	1.0	800	$2,095	$2.62	8d	1	0.79mi
1720 NW 4th Ave Boca Raton, FL	2.0	2.5	1335	$2,795	$2.09	24d	1	0.80mi
2121 N Ocean Blvd Unit 1507W Boca Raton, FL	2.0	2.0	1031	$5,500	$5.33	8d	1	0.80mi
2121 N Ocean Blvd Unit 805W Boca Raton, FL	2.0	2.0	1031	$3,500	$3.39	8d	1	0.80mi
2121 N Ocean Blvd Unit 407W Boca Raton, FL	2.0	2.0	1031	$6,000	$5.82	24d	1	0.80mi
2121 N Ocean Blvd Unit 201W Boca Raton, FL	2.0	2.0	1078	$2,600	$2.41	24d	1	0.80mi
2121 N Ocean Blvd Unit 1103W Boca Raton, FL	1.0	1.5	734	$3,500	$4.77	24d	1	0.80mi
2121 N Ocean Blvd Unit 1105W Boca Raton, FL	2.0	2.0	1031	$3,750	$3.64	24d	1	0.80mi
2121 N Ocean Blvd Unit 1204E Boca Raton, FL	2.0	2.0	1031	$3,000	$2.91	24d	1	0.80mi
2121 N Ocean Blvd Unit 1006E Boca Raton, FL	2.0	2.0	1031	$6,500	$6.30	24d	1	0.80mi
2650 Greenwood Ter #2160 Boca Raton, FL	2.0	2.0	938	$2,600	$2.77	17d	1	0.81mi
2650 Greenwood Ter Boca Raton, FL	2.0	2.0	938	$2,500	$2.67	5d	1	0.81mi
115 NW 7th St Boca Raton, FL	3.0	2.0	1008	$4,250	$4.22	4d	1	0.81mi
2899 NE 2nd Ave Boca Raton, FL	2.0	2.0	1377	$2,700	$1.96	24d	1	0.81mi
1845 NW 4th Ave #17 Boca Raton, FL	3.0	3.0	1428	$3,500	$2.45	24d	1	0.83mi
401 NE Mizner Blvd Boca Raton, FL	1.0–3.0	1.0–2.5	1109	$3,414	$3.08	2d	25	0.84mi

HOA detail condo

• Monthly dues: $528 · $6,336/yr
• Likely covers: waterinternetcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $234,900 Active 97 DOM
2. 2026-06-17
   days on market $234,900 Active 96 DOM
3. 2026-06-16
   days on market $234,900 Active 95 DOM
4. 2026-06-15
   days on market $234,900 Active 94 DOM
5. 2026-06-13
   days on market $234,900 Active 92 DOM
6. 2026-06-09
   days on market $234,900 Active 88 DOM
7. 2026-06-08
   days on market $234,900 Active 87 DOM
8. 2026-06-07
   days on market $234,900 Active 86 DOM
9. 2026-06-04
   days on market $234,900 Active 83 DOM
10. 2026-06-03
    days on market $234,900 Active 82 DOM
11. 2026-06-02
    days on market $234,900 Active 81 DOM
12. 2026-06-01
    days on market $234,900 Active 80 DOM
13. 2026-05-31
    days on market $234,900 Active 79 DOM
14. 2026-05-18
    status Active
15. 2026-05-16
    historical
16. 2026-03-30
    price $234,900
17. 2026-02-22
    listed $240,000 Active
18. 2016-05-19
    soldstatus $102,500
19. 1999-01-11
    soldstatus $42,000

ⓘ 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: $2,759 · $230/mo
• Projected year-2 tax: $2,759 · $230/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 10/10 Extreme 7 d/yr ≥106°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,755
• − Mortgage interest: −$13,158
• − Property taxes: −$2,759
• − Insurance: −$1,174
• − Repairs & maintenance: −$2,940
• − Management: −$2,940
• − HOA: −$6,336
• − Depreciation: −$6,833
• Taxable income: $613
• Est. tax owed @ 24.0%: −$147
• After-tax cash flow: $3,837/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

• Census place: Boca Raton, FL
• County: Palm Beach County · 1,438,312 people
• City population: 250,102
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 24,608
• Household income: $107,896
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 872.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 63% Hispanic / Latino 15% Black 14% Two or more races 10% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1% Cuban 3%
• Common ancestry: Hispanic 9% Scotch-Irish 5% Romanian 5%
• Foreign-born: 15% · Canada, Jamaica, Vietnam
• Languages at home: 77% English-only · Spanish 11% Other Indo-European 5% 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: ▼ -425.66%
• Current HPI: 342.0339
• Rent YoY: ▲ 6.83%
• 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

+459.3% since first listed

6 events — show timeline

• 2026-05-18 Relisted — Beaches MLS
• 2026-05-16 Listing Removed — Beaches MLS
• 2026-03-30 Price Changed $234,900 Beaches MLS
• 2026-02-22 Listed $240,000 Beaches MLS
• 2016-05-19 Sold (Public Records) $102,500 Public Records
• 1999-01-11 Sold (Public Records) $42,000 Public Records

Property tax history

+9.5%/yr

Latest (2025): $2,759 · +2.9% YoY. Source: county tax records.