600 SW 2nd 2390 Ave #2390 · Boca Raton, FL 33432

$149,000

1 bd · 1.5 ba · 762 sqft · Timeshare public records · 322 Days on market

Built 1971 578 sqft lot $578/mo HOA · 23% 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 +23.5/30.0
• 1% rule +10.0/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great 1 BR apartment in the heart of downtown Boca Raton! Great investment opportunity. Tenant pays $1500. Cap rate 5%. Located just a walk away from Mizner Park, IPIC movie theater, post office, restaurants shops, and next to the future Boca Raton Brightline station. The unit is 1 bedroom, 1 bathroom, with a spacious living area, updated bathroom, and plenty of storage. The kitchen & appliances are in great condition. These buildings have common laundry on each floor, and this unit is located just a steps away from the shared laundry facility making it very convenient. The unit comes with one assigned parking space, and there is plenty of guest spaces.

Key facts

• Plenty of storage
• Updated bathroom
• $578 HOA

Tags

• HEART OF DOWNTOWN BOCA RATON
• UPDATED BATHROOM
• PLENTY OF STORAGE
• ONE ASSIGNED PARKING SPACE

Property features AI

Finance

• Other: Association fee paid monthly
• Financial info: Pets not allowed
• HOA & community: Community pool; Jogging path; Sidewalks; Monthly HOA fee

Exterior

• Parking: Assigned parking; Guest parking
• Security: Smoke detector(s)
• Utilities: Cable available
• Home design: Condominium; 2 stories; Faces east; Resale condition
• Construction: Other construction materials
• Exterior features: Not waterfront

Interior

• Kitchen: Dishwasher; Disposal; Refrigerator
• Bedrooms: No main-level bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Electric cooling
• Interior features: Closet cabinetry; Unfurnished
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath timeshare listed at $149k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $149k).
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: Boca Raton Elementary School (math 47% / reading 52%, grade D, #1,088 of 2,144 statewide, top 53%, 365 students, 62% 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).
• Market conditions: Rents rising fast (+4.6%/yr); 472 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $1k of loan paydown is wiped out by about $4k 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 + 4.6% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 322 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 3y ago; this cycle's ask is 6830% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• 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 $131,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 322 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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. 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 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: 1.68% ✓
• Cap rate: 8.54%
• Cash-on-cash: 8.04%
• DSCR: 1.36
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.56% rent growth · sell at horizon

5-year hold

• IRR: -1.2%
• Equity multiple: 0.95×
• Total profit: $-1,898
• Equity at exit: $22,216

10-year hold

• IRR: 11.0%
• Equity multiple: 1.96×
• Total profit: $40,040
• Equity at exit: $12,883

Cash invested: $41,720 (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 33432

• Rents YoY: 4.6%
• Active inventory: 472
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,509 high
• Mortgage (P&I): −$781
• Tax from tax record: −$282 /mo · $3,378/yr
• Insurance: −$62
• HOA: −$578
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $279

Break-even live

Break-even rent $2,156

Max offer price $149,000

Occupancy floor 84%

Sensitivity live

Price	-10% $364	-5% $322	+0% $279	+5% $237	+10% $195
Rent	-10% $81	-5% $180	+0% $279	+5% $379	+10% $478
Rate	-1.0pp $354	-0.5pp $317	base $279	+0.5pp $241	+1.0pp $202

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
650 SW 2nd Ave Unit 252 Boca Raton, FL	2.0	1.5	803	$2,000	$2.49	14d	1	0.03mi
600 SW 2nd Ave Unit 240 Boca Raton, FL	2.0	2.0	864	$2,700	$3.12	15d	1	0.04mi
550 SW 2nd Ave #1210 Boca Raton, FL	2.0	2.0	864	$2,150	$2.49	25d	1	0.06mi
33 SE 8th St Boca Raton, FL	2.0	1.0–2.0	816	$2,884	$3.53	0d	19	0.12mi
299 SW 7th St #103 Boca Raton, FL	2.0	2.0	888	$1,850	$2.08	25d	1	0.14mi
299 SW 7th St #1040 Boca Raton, FL	2.0	2.0	888	$2,100	$2.36	25d	1	0.14mi
298 SW 6th St #204 Boca Raton, FL	1.0	1.5	735	$1,875	$2.55	0d	1	0.14mi
371 SW 8th St Unit 2-H-W Boca Raton, FL	2.0	1.0	863	$1,850	$2.14	25d	1	0.25mi
101 E Camino Real Boca Raton, FL	3.0	1.0–2.5	1077	$4,312	$4.00	0d	7	0.26mi
233 S Federal Hwy Boca Raton, FL	2.0–3.0	2.0	1222	$4,000	$3.27	22d	2	0.27mi
233 S Federal Hwy Boca Raton, FL	2.0–3.0	2.0	1181	$3,900	$3.30	0d	4	0.27mi
230 SW 1st St Boca Raton, FL	2.0	2.0	1000	$2,850	$2.85	15d	1	0.31mi
131 S Federal Hwy Boca Raton, FL	1.0–2.0	1.0–2.0	778	$2,139	$2.75	0d	13	0.32mi
101 SW 12th St Boca Raton, FL	1.0	1.0	575	$1,848	$3.21	0d	10	0.33mi
272 SW 1st St Unit B Boca Raton, FL	2.0	1.0	900	$2,300	$2.56	25d	1	0.33mi
50 SE 12th St #2260 Boca Raton, FL	2.0	2.0	870	$4,000	$4.60	25d	1	0.34mi
50 SE 12th St #1520 Boca Raton, FL	1.0	1.0	675	$1,750	$2.59	20d	1	0.34mi
50 SE 12th St #145 Boca Raton, FL	2.0	1.0	800	$1,949	$2.44	25d	1	0.34mi
431 W Camino Real Boca Raton, FL	1.0	1.0	600	$1,925	$3.21	0d	3	0.34mi
101 Plaza Real S Boca Raton, FL	1.0–3.0	1.0–2.0	1188	$3,000	$2.53	4d	6	0.38mi
422 SW 9th St Unit 6 Boca Raton, FL	1.0	2.0	914	$2,095	$2.29	25d	1	0.38mi
50 SW 3rd Ave #1060 Boca Raton, FL	2.0	2.0	918	$2,250	$2.45	22d	1	0.38mi
50 SW 3rd Ave #2010 Boca Raton, FL	2.0	2.0	918	$1,950	$2.12	22d	1	0.38mi
50 SW 3rd Ave #311 Boca Raton, FL	2.0	2.0	918	$2,500	$2.72	11d	1	0.38mi
50 SW 3rd Ave #1060 Boca Raton, FL	2.0	2.0	918	$2,250	$2.45	25d	1	0.38mi
50 SW 3rd Ave #311 Boca Raton, FL	2.0	2.0	918	$2,500	$2.72	25d	1	0.38mi
50 SW 3rd Ave #311 Boca Raton, FL	2.0	2.0	918	$2,500	$2.72	0d	1	0.38mi
30 SE 13th St Unit A2 Boca Raton, FL	1.0	1.0	704	$1,600	$2.27	25d	1	0.42mi
9 Plaza Real S Boca Raton, FL	2.0	1.0–2.0	795	$3,285	$4.13	0d	13	0.43mi
55 SE 14th St #1120 Boca Raton, FL	2.0	2.0	1053	$2,375	$2.26	15d	1	0.44mi
55 SE 14th St #1120 Boca Raton, FL	2.0	2.0	1053	$2,400	$2.28	25d	1	0.44mi
320 W Palmetto Park Rd Boca Raton, FL	3.0	1.0–3.0	1213	$2,697	$2.22	0d	27	0.44mi
1361 S Federal Hwy Boca Raton, FL	1.0	1.0	750	$2,324	$3.10	8d	1	0.45mi
99 SE Mizner Blvd Boca Raton, FL	1.0–2.0	1.0–2.0	1100	$3,250	$2.95	14d	5	0.47mi
99 SE Mizner Blvd Boca Raton, FL	1.0–2.0	1.0–2.0	1100	$3,900	$3.55	16d	4	0.47mi
99 SE Mizner Blvd Boca Raton, FL	1.0–2.0	1.0–2.0	1100	$3,250	$2.95	19d	5	0.47mi
100 SW 14th St Boca Raton, FL	1.0–3.0	1.0–2.0	917	$1,713	$1.87	3d	1	0.49mi
200 E Royal Palm Rd #4080 Boca Raton, FL	1.0	1.5	733	$2,499	$3.41	25d	1	0.53mi
200 E Royal Palm Rd Boca Raton, FL	2.0	2.0	1008	$3,200	$3.17	25d	1	0.53mi
155 E Boca Raton Rd Boca Raton, FL	1.0–3.0	1.0–2.5	1411	$6,990	$4.95	2d	8	0.60mi

HOA detail

• Monthly dues: $578 · $6,936/yr
• Likely covers: parking

Listing history 50 events

1. 2026-06-18
   days on market $149,000 Active 322 DOM
2. 2026-06-17
   days on market $149,000 Active 321 DOM
3. 2026-06-16
   days on market $149,000 Active 320 DOM
4. 2026-06-15
   days on market $149,000 Active 319 DOM
5. 2026-06-13
   days on market $149,000 Active 317 DOM
6. 2026-06-09
   days on market $149,000 Active 313 DOM
7. 2026-06-07
   days on market $149,000 Active 311 DOM
8. 2026-06-04
   days on market $149,000 Active 308 DOM
9. 2026-06-03
   days on market $149,000 Active 307 DOM
10. 2026-05-31
    days on market $149,000 Active 306 DOM
11. 2026-05-25
    historical $2,150
12. 2026-05-05
    price $149,000
13. 2026-04-01
    status Active
14. 2026-03-31
    historical
15. 2026-03-14
    listed $2,150
16. 2026-01-10
    price $155,000
17. 2026-01-03
    status Active
18. 2026-01-01
    historical
19. 2025-11-11
    price $159,000
20. 2025-10-08
    status Active
21. 2025-10-01
    historical
22. 2025-09-17
    price $167,500
23. 2025-09-06
    price $170,000
24. 2025-08-24
    price $175,000
25. 2025-08-05
    price $177,500
26. 2025-07-19
    historical
27. 2025-07-19
    listed $179,500 Active
28. 2025-07-08
    price $179,750
29. 2025-06-20
    price $182,500
30. 2025-05-16
    listed $185,000 Active
31. 2024-10-12
    historical $1,650
32. 2024-10-09
    listed $1,650
33. 2024-09-20
    historical $1,650
34. 2024-09-10
    listed $1,650
35. 2024-08-08
    historical $1,650
36. 2024-08-06
    listed $1,650
37. 2024-07-31
    historical $1,650
38. 2024-07-19
    listed $1,650
39. 2024-05-08
    historical $1,650
40. 2024-05-04
    listed $1,650
41. 2024-05-03
    historical $1,650
42. 2024-05-01
    listed $1,650
43. 2024-04-23
    historical $1,650
44. 2024-04-14
    listed $1,650
45. 2024-04-04
    historical $1,650
46. 2024-03-29
    listed $1,650
47. 2023-11-15
    historical $1,775
48. 2023-11-02
    price $1,775
49. 2023-10-20
    price $1,800
50. 2023-10-04
    listed $1,850

ⓘ 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: $3,378 · $282/mo
• Projected year-2 tax: $3,378 · $282/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 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,112
• − Mortgage interest: −$8,346
• − Property taxes: −$3,378
• − Insurance: −$745
• − Repairs & maintenance: −$2,409
• − Management: −$2,409
• − HOA: −$6,936
• − Depreciation: −$4,335
• Taxable income: $1,554
• Est. tax owed @ 24.0%: −$373
• After-tax cash flow: $2,980/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): 21,834
• Household income: $107,045
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1461.0

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% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Cuban 3%
• Common ancestry: Scotch-Irish 4% Subsaharan African 4% Romanian 4%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 77% English-only · Spanish 13% Other Indo-European 3% 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: ▼ -565.03%
• Current HPI: 391.7799
• Rent YoY: ▲ 4.56%
• 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

+16.2% since first listed

40 events — show timeline

• 2026-05-25 Rental Removed $2,150 SHOWMOJO
• 2026-05-05 Price Changed $149,000 Beaches MLS
• 2026-04-01 Relisted — Beaches MLS
• 2026-03-31 Listing Removed — Beaches MLS
• 2026-03-14 Listed for Rent $2,150 SHOWMOJO
• 2026-01-10 Price Changed $155,000 Beaches MLS
• 2026-01-03 Relisted — Beaches MLS
• 2026-01-01 Listing Removed — Beaches MLS
• 2025-11-11 Price Changed $159,000 Beaches MLS
• 2025-10-08 Relisted — Beaches MLS
• 2025-10-01 Listing Removed — Beaches MLS
• 2025-09-17 Price Changed $167,500 Beaches MLS
• 2025-09-06 Price Changed $170,000 Beaches MLS
• 2025-08-24 Price Changed $175,000 Beaches MLS
• 2025-08-05 Price Changed $177,500 Beaches MLS
• 2025-07-19 Listing Removed — Beaches MLS
• 2025-07-19 Listed $179,500 Beaches MLS
• 2025-07-08 Price Changed $179,750 Beaches MLS
• 2025-06-20 Price Changed $182,500 Beaches MLS
• 2025-05-16 Listed $185,000 Beaches MLS
• 2024-10-12 Rental Removed $1,650 LISTANZA
• 2024-10-09 Listed for Rent $1,650 LISTANZA
• 2024-09-20 Rental Removed $1,650 LISTANZA
• 2024-09-10 Listed for Rent $1,650 LISTANZA
• 2024-08-08 Rental Removed $1,650 RMLSFL
• 2024-08-06 Listed for Rent $1,650 RMLSFL
• 2024-07-31 Rental Removed $1,650 RMLSFL
• 2024-07-19 Listed for Rent $1,650 RMLSFL
• 2024-05-08 Rental Removed $1,650 LISTANZA
• 2024-05-04 Listed for Rent $1,650 LISTANZA
• 2024-05-03 Rental Removed $1,650 RMLSFL
• 2024-05-01 Listed for Rent $1,650 RMLSFL
• 2024-04-23 Rental Removed $1,650 RMLSFL
• 2024-04-14 Listed for Rent $1,650 RMLSFL
• 2024-04-04 Rental Removed $1,650 RMLSFL
• 2024-03-29 Listed for Rent $1,650 RMLSFL
• 2023-11-15 Rental Removed $1,775 RMLSFL
• 2023-11-02 Price Changed $1,775 RMLSFL
• 2023-10-20 Price Changed $1,800 RMLSFL
• 2023-10-04 Listed for Rent $1,850 RMLSFL

Property tax history

+19.2%/yr

Latest (2016): $3,378 · +19.2% YoY. Source: county tax records.