34003 Baez Bay · Boynton Beach, FL 33436

$119,000

3 bd · 1.5 ba · 744 sqft · Condo public records · 221 Days on market

Built 1971 $270/mo HOA · 10% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

OWNER MUST SELL this 3 Bedrooms, 1 1/2 Bath split plan home! Very close to the club house. Double roof. Laminate floors throughout.

Key facts

• Open floor plan
• Storage shed
• Long driveway

Tags

• OPEN FLOOR PLAN
• ENCLOSED PATIO
• LONG DRIVEWAY
• STORAGE SHED
• 24 HOUR MANNED GATED COMMUNITY
• TWO HEATED POOLS

Property features AI

Finance

• Other: Located in a senior community
• Financial info: Association allows pets with limits on number and size
• HOA & community: Community association with monthly fee; Association amenities include pool, clubhouse, community room, billiard room, library, dog park, picnic area, bocce ball, shuffleboard, pickleball, street lights, management, on-site manager, internet included, and security; Association fee paid monthly

Exterior

• Parking: Parking details not provided
• Security: Gated community with guard
• Utilities: Public water; Public sewer; Sewer available; Water available
• Home design: Manufactured home; One story; Faces south; Resale property
• Construction: Modular construction; Metal roof; Built as a single-level structure
• Exterior features: Open patio; Patio; Porch; Glass-enclosed porch

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Flooring: Vinyl
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central electric heating; Central air conditioning (electric)
• Interior features: Split bedroom layout; Furnished
• Laundry & utility: Indoor laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $119k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.0% vs local median 4.3% in Boynton Beach — 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 72/100 on livability (#351 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety B+, cost of living B; Watch: amenities D+, crime D-, commute 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 soft (-0.6%/yr); 445 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 45% of the median local income ($76k/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 $823 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 + 0.0% rent growth), your $33k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 221 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $40k; list at $119k implies a 198% 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 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 221 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. 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.37% ✓
• Cap rate: 18.00%
• Cash-on-cash: 41.80%
• DSCR: 2.86
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 34.6%
• Equity multiple: 2.40×
• Total profit: $46,571
• Equity at exit: $17,743

10-year hold

• IRR: 39.7%
• Equity multiple: 4.14×
• Total profit: $104,606
• Equity at exit: $10,289

Cash invested: $33,320 (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 33436

• Home prices YoY: -26.0%
• Rents YoY: -0.6%
• Active inventory: 445
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $2,817 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$121 /mo · $1,458/yr
• Insurance: −$50
• HOA: −$270
• Vacancy / Maint / Mgmt: −$592
• Net cashflow: $1,161

Break-even live

Break-even rent $1,348

Max offer price $119,000

Occupancy floor 54%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,839	$2.79	1d	19	1.37mi
5217 Cedar Lake Rd Boynton Beach, FL	1.0–3.0	1.0–2.0	1030	$2,811	$2.73	1d	51	1.47mi

HOA detail condo

• Monthly dues: $270 · $3,240/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $119,000 Active 221 DOM
2. 2026-06-17
   days on market $119,000 Active 220 DOM
3. 2026-06-16
   days on market $119,000 Active 219 DOM
4. 2026-06-15
   days on market $119,000 Active 218 DOM
5. 2026-06-13
   days on market $119,000 Active 216 DOM
6. 2026-06-09
   days on market $119,000 Active 212 DOM
7. 2026-06-07
   days on market $119,000 Active 210 DOM
8. 2026-06-04
   days on market $119,000 Active 207 DOM
9. 2026-06-03
   days on market $119,000 Active 206 DOM
10. 2026-06-01
    days on market $119,000 Active 204 DOM
11. 2026-05-31
    days on market $119,000 Active 203 DOM
12. 2026-05-20
    status Active
13. 2026-05-19
    historical
14. 2026-03-23
    price $119,000
15. 2025-11-07
    listed $124,000 Active
16. 2020-03-26
    soldstatus $40,000 Closed 134-char remark

    Show marketing remark (134 chars)

    OWNER MUST SELL this 3 Bedrooms, 1 1/2 Bath split plan home! Very close to the club house. Double roof. Laminate floors throughout.

17. 2020-03-10
    status Pending 134-char remark

    Show marketing remark (134 chars)

    OWNER MUST SELL this 3 Bedrooms, 1 1/2 Bath split plan home! Very close to the club house. Double roof. Laminate floors throughout.

18. 2020-02-21
    price $49,900 134-char remark

    Show marketing remark (134 chars)

    OWNER MUST SELL this 3 Bedrooms, 1 1/2 Bath split plan home! Very close to the club house. Double roof. Laminate floors throughout.

19. 2020-02-04
    price $54,900 134-char remark

    Show marketing remark (134 chars)

    OWNER MUST SELL this 3 Bedrooms, 1 1/2 Bath split plan home! Very close to the club house. Double roof. Laminate floors throughout.

20. 2020-01-10
    listed $59,900 Active 134-char remark

    Show marketing remark (134 chars)

    OWNER MUST SELL this 3 Bedrooms, 1 1/2 Bath split plan home! Very close to the club house. Double roof. Laminate floors throughout.

ⓘ 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: $1,458 · $121/mo
• Projected year-2 tax: $1,458 · $121/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 9/10 Extreme 6 d/yr ≥106°F today · 20 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,808
• − Mortgage interest: −$6,666
• − Property taxes: −$1,458
• − Insurance: −$595
• − Repairs & maintenance: −$2,705
• − Management: −$2,705
• − HOA: −$3,240
• − Depreciation: −$3,462
• Taxable income: $12,978
• Est. tax owed @ 24.0%: −$3,115
• After-tax cash flow: $10,812/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 — Boynton Beach

• Score: 72/100
• State rank: #351
• US rank: #6098

Category grades

Amenities D+ Commute F Cost of living B Crime D- Employment C Housing A+ Health & safety B+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• City population: 148,060
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 48,743
• Household income: $75,789
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 1813.0

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 0.64)
• Race & ethnicity: White 52% Black 24% Hispanic / Latino 19% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 3% Dominican 1%
• Common ancestry: Hispanic 12% Romanian 3% Scotch-Irish 2%
• Foreign-born: 27% · Canada, Jamaica, Vietnam
• Languages at home: 64% English-only · Spanish 14% French/Haitian/Cajun 13% Other Indo-European 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: ▼ -109.59%
• Current HPI: 311.7742
• Rent YoY: ▼ -0.57%
• 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

+98.7% since first listed

9 events — show timeline

• 2026-05-20 Relisted — Beaches MLS
• 2026-05-19 Listing Removed — Beaches MLS
• 2026-03-23 Price Changed $119,000 Beaches MLS
• 2025-11-07 Listed $124,000 Beaches MLS
• 2020-03-26 Sold (MLS) $40,000 Beaches MLS
• 2020-03-10 Pending — Beaches MLS
• 2020-02-21 Price Changed $49,900 Beaches MLS
• 2020-02-04 Price Changed $54,900 Beaches MLS
• 2020-01-10 Listed $59,900 Beaches MLS

Property tax history

+4.3%/yr

Latest (2025): $1,458 · +6.2% YoY. Source: county tax records.