108 NE 20th Ave NE #201 · Boynton Beach, FL 33435

$69,900

2 bd · 2.0 ba · 980 sqft · Condo public records · 115 Days on market

Built 1970 $668/mo HOA · 31% 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
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully maintained end-unit residence in Village Royale, a vibrant 55+ community in the heart of Boynton Beach. Perfectly positioned on a quiet corner, this light-filled home offers added privacy and peaceful surroundings. The unit features a brand-new refrigerator, a 2025 hot water tank, stylish new vanities, and the convenience of a washer and dryer located in the enclosed Florida room. The building is pet-friendly, making it ideal for seasonal or full-time residents who want their furry companions close by. The roof, just three years old, adds additional value and peace of mind. Enjoy relaxed South Florida living with resort-style amenities, social activities, and pro

Key facts

• Hot water tank
• Washer and dryer
• End-unit residence

Tags

• END-UNIT RESIDENCE
• BRAND-NEW REFRIGERATOR
• HOT WATER TANK
• NEW VANITIES
• WASHER AND DRYER
• ENCLOSED FLORIDA ROOM

Property features AI

Finance

• Other: Community of 248 units; Senior community; Pets allowed with no restrictions
• Financial info: Property is on a land lease
• HOA & community: Community association (Village Royale); HOA fee $668 monthly; Association amenities include clubhouse, fitness center, pool, shuffleboard court, picnic area, community room, manager on site; HOA covers cable TV, insurance, grounds and structure maintenance, sewer, trash, common areas, common real estate tax, reserve funds, roof repairs, pool service

Exterior

• Parking: Assigned open parking (1 space)
• Security: Fire sprinkler system; Smoke detectors
• Utilities: Public water; Public sewer; 100 amp electric service with circuit breakers; Cable available
• Home design: Condominium; Two levels; Entry level: 2; Faces northeast; Resale condition
• Construction: Built with CBS (concrete block and stucco) construction; Composition and rolled/hot mop roof; Block foundation; 2 total stories
• Exterior features: Screened porch; Porch

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Disposal; Refrigerator
• Bedrooms: 2 bedrooms on main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric central heating (individual unit); Electric central cooling (individual unit); Ceiling fan(s)
• Interior features: Dome kitchen; Furnished; Sliding windows
• Laundry & utility: Washer hookup inside in a laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $454 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.1% 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.
• Zoned schools: Rolling Green Elementary School (math 21% / reading 26%, grade F, #2,061 of 2,144 statewide, top 96%, 692 students, 88% FRL); Congress Community Middle School (math 21% / reading 28%, grade F, #522 of 571 statewide, top 93%, 988 students, 72% FRL); Boynton Beach Community High (math 13% / reading 25%, grade F, #565 of 667 statewide, top 85%, 1,547 students, 65% FRL) — zoned schools average 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 50% district-wide (-27 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.6%/yr); 536 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $483 of loan paydown is wiped out by about $2k 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 + 3.6% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $39k; list at $70k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; HOA is 31% 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 $63,609 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 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 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 3.05% ✓
• Cap rate: 14.09%
• Cash-on-cash: 27.84%
• DSCR: 2.24
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.64% rent growth · sell at horizon

5-year hold

• IRR: 23.7%
• Equity multiple: 1.99×
• Total profit: $19,462
• Equity at exit: $10,422

10-year hold

• IRR: 32.5%
• Equity multiple: 4.16×
• Total profit: $61,913
• Equity at exit: $6,044

Cash invested: $19,572 (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 33435

• Rents YoY: 3.6%
• Active inventory: 536
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $2,130 high
• Mortgage (P&I): −$367
• Tax from tax record: −$165 /mo · $1,977/yr
• Insurance: −$29
• HOA: −$668
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $454

Break-even live

Break-even rent $1,555

Max offer price $69,900

Occupancy floor 74%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 NE 20th Ave #206 Boynton Beach, FL	2.0	2.0	860	$1,800	$2.09	19d	1	0.03mi
2213 NE 1st Ct #103 Boynton Beach, FL	1.0	1.5	624	$1,350	$2.16	24d	1	0.19mi
2100 N Seacrest Blvd Boynton Beach, FL	3.0	1.0	1056	$2,900	$2.75	16d	1	0.21mi
311 NE 17th Ave #204 Boynton Beach, FL	2.0	2.0	1100	$1,650	$1.50	24d	1	0.26mi
410 NE 17th Ave #101 Boynton Beach, FL	2.0	1.5	1080	$1,500	$1.39	7d	1	0.31mi
2202 NE 3rd St Boynton Beach, FL	3.0	2.0	902	$3,000	$3.33	16d	1	0.32mi
2400 NE 1st Ln #206 Boynton Beach, FL	1.0	1.5	754	$1,800	$2.39	14d	1	0.33mi
2515 NE 2nd Ct #202 Boynton Beach, FL	2.0	2.0	960	$1,499	$1.56	24d	1	0.40mi
2615 NE 1st Ct Boynton Beach, FL	2.0	2.0	960	$1,850	$1.93	18d	2	0.41mi
2615 NE 1st Ct #403 Boynton Beach, FL	2.0	2.0	960	$2,100	$2.19	24d	1	0.41mi
2601 3rd Ct NE #202 Boynton Beach, FL	2.0	2.0	982	$1,500	$1.53	18d	1	0.41mi
2202 NE 4th St #10 Boynton Beach, FL	2.0	1.0	757	$1,900	$2.51	2d	1	0.42mi
2615 NE 3rd Ct #4030 Boynton Beach, FL	2.0	2.0	960	$1,699	$1.77	4d	1	0.45mi
230 NE 26th Ave #1070 Boynton Beach, FL	1.0	1.5	754	$1,620	$2.15	10d	1	0.46mi
130 NE 26th Ave #307 Boynton Beach, FL	2.0	2.0	982	$3,500	$3.56	24d	1	0.46mi
230 NE 26th Ave Boynton Beach, FL	1.0–2.0	1.5–2.0	857	$1,650	$1.93	17d	2	0.46mi
300 NE 26th Ave #1040 Boynton Beach, FL	2.0	2.0	1080	$1,559	$1.44	24d	1	0.47mi
30 Crossings Cir Unit H Boynton Beach, FL	2.0	2.0	864	$2,400	$2.78	18d	1	0.48mi
27 Crossings Cir Unit H Boynton Beach, FL	2.0	2.0	864	$1,900	$2.20	14d	1	0.48mi
330 NE 26th Ave Unit 108 Boynton Beach, FL	1.0	1.5	754	$1,600	$2.12	2d	1	0.50mi
330 NE 26th Ave Unit 108 Boynton Beach, FL	1.0	1.5	754	$1,375	$1.82	24d	1	0.50mi
24 Crossings Cir Unit H Boynton Beach, FL	2.0	2.0	864	$2,050	$2.37	24d	1	0.53mi
2008 S Federal Hwy Unit C207 Boynton Beach, FL	2.0	2.0	963	$2,000	$2.08	24d	1	0.55mi
17 Crossings Cir Unit E Boynton Beach, FL	2.0	2.0	864	$1,900	$2.20	24d	1	0.57mi
14 Crossings Cir Unit E Boynton Beach, FL	2.0	2.0	953	$2,300	$2.41	24d	1	0.61mi
640 Oak St Boynton Beach, FL	2.0	1.0	765	$2,690	$3.52	7d	1	0.62mi
7 Crossings Cir Boynton Beach, FL	2.0	1.5	864	$2,500	$2.89	24d	1	0.62mi
4 Crossings Cir Unit B Boynton Beach, FL	2.0	1.5	864	$1,950	$2.26	24d	1	0.64mi
1632 N Federal Hwy Boynton Beach, FL	1.0–3.0	1.0–2.0	1098	$2,580	$2.35	1d	20	0.68mi
1820 New Palm Way #201 Boynton Beach, FL	2.0	2.0	873	$3,500	$4.01	24d	1	0.72mi
336 NE 12th Ave Boynton Beach, FL	3.0	2.0	1040	$2,500	$2.40	7d	1	0.73mi
117 Waterside Dr #117 Hypoluxo, FL	2.0	2.0	768	$2,000	$2.60	24d	1	0.78mi
176 Waterside Dr Hypoluxo, FL	3.0	2.0	1024	$2,500	$2.44	19d	1	0.78mi
519 Martin Luther King Junior Blvd Unit B Boynton Beach, FL	2.0	1.0	800	$1,950	$2.44	24d	1	0.81mi
661 Waterside Dr Hypoluxo, FL	2.0	2.0	768	$2,000	$2.60	24d	1	0.82mi
525 NW 10th Ave Boynton Beach, FL	3.0	1.0	836	$2,300	$2.75	24d	1	0.82mi
977 Miner Rd Lantana, FL	3.0	1.0	1100	$3,195	$2.90	1d	1	0.85mi
2700 Quantum Lakes Dr Boynton Beach, FL	1.0–3.0	1.0–2.0	1328	$2,325	$1.75	1d	164	0.86mi
1214 Highview Rd Lantana, FL	3.0	2.0	768	$2,300	$2.99	1d	1	0.88mi
717 NE 10th Ave Unit 6 Boynton Beach, FL	1.0	1.0	700	$1,600	$2.29	7d	1	0.95mi

HOA detail condo

• Monthly dues: $668 · $8,016/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $69,900 Active 115 DOM
2. 2026-06-17
   days on market $69,900 Active 114 DOM
3. 2026-06-16
   days on market $69,900 Active 113 DOM
4. 2026-06-15
   days on market $69,900 Active 112 DOM
5. 2026-06-13
   days on market $69,900 Active 110 DOM
6. 2026-06-09
   days on market $69,900 Active 106 DOM
7. 2026-06-07
   days on market $69,900 Active 104 DOM
8. 2026-06-04
   days on market $69,900 Active 101 DOM
9. 2026-06-03
   days on market $69,900 Active 100 DOM
10. 2026-06-02
    days on market $69,900 Active 99 DOM
11. 2026-06-01
    days on market $69,900 Active 98 DOM
12. 2026-05-31
    days on market $69,900 Active 97 DOM
13. 2026-05-11
    price $69,900
14. 2026-02-23
    listed $77,000 Active
15. 2002-04-18
    soldstatus $39,000
16. 1998-05-29
    soldstatus $18,000

ⓘ 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: $1,977 · $165/mo
• Projected year-2 tax: $1,977 · $165/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 ≥105°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,557
• − Mortgage interest: −$3,915
• − Property taxes: −$1,977
• − Insurance: −$350
• − Repairs & maintenance: −$2,045
• − Management: −$2,045
• − HOA: −$8,016
• − Depreciation: −$2,033
• Taxable income: $5,176
• Est. tax owed @ 24.0%: −$1,242
• After-tax cash flow: $4,206/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

• Census place: Boynton Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 148,060
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 37,833
• Household income: $67,979
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 1623.0

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 0.65)
• Race & ethnicity: White 41% Black 40% Hispanic / Latino 15% Two or more races 10%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Hispanic 23% Romanian 2% Lithuanian 2%
• Foreign-born: 30% · Canada, Jamaica
• Languages at home: 61% English-only · French/Haitian/Cajun 24% Spanish 11% 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: ▼ -345.86%
• Current HPI: 371.0527
• Rent YoY: ▲ 3.64%
• 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

+288.3% since first listed

4 events — show timeline

• 2026-05-11 Price Changed $69,900 Beaches MLS
• 2026-02-23 Listed $77,000 Beaches MLS
• 2002-04-18 Sold (Public Records) $39,000 Public Records
• 1998-05-29 Sold (Public Records) $18,000 Public Records

Property tax history

+6.5%/yr

Latest (2025): $1,977 · +5.0% YoY. Source: county tax records.