5196 Lake Catalina Dr Unit B · Boca Raton, FL 33496

$749,000

3 bd · 2.5 ba · 2,053 sqft · Condo public records · 13 Days on market

Built 1989 $550/mo HOA · 8% of rent

---

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 +18.5/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +4.5/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Beautiful unit 3 BR 2.5 baths. Lovely golf view. Master bath completely remodeled. Many built-ins of great quality. Closet outfitted. Shows exquisite and all in fine taste.

Key facts

• Led illuminated bar
• Two-story foyer
• Modern kitchen

Tags

• TWO-STORY FOYER
• MODERN KITCHEN
• CENTER ISLAND
• LED ILLUMINATED BAR
• ENCLOSED SCREENED-IN BALCONY
• SPA INSPIRED BATHROOM

Property features AI

Finance

• Other: Pets allowed with restrictions (breed, number, and size limits)
• Financial info: Association fee collected monthly; Association fee includes cable TV, internet, insurance, security, sewer, trash, common area maintenance, common real estate tax, legal/accounting, reserve funds, and roof repairs
• HOA & community: Association managed by Crest Management Group; Monthly association fee; Community amenities: pool, spa/hot tub, fitness center, clubhouse, tennis courts, pickleball court(s), basketball court, putting green, golf course access, playground, jogging path, sidewalks, street lights, game room, library, community room, bar, manager on site, maintenance, laundry, elevator(s), sauna, security

Exterior

• Parking: Attached garage with garage door opener (1 covered space, total parking for 1 vehicle); Driveway
• Security: Gated community with guard; Security patrol; Security system (owned); Smoke detectors
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Underground utilities; Water and sewer connected
• Home design: Condominium; One and one half levels; Resale condition; Faces east
• Construction: CBS construction
• Exterior features: Waterfront location; Tile and concrete roof

Interior

• Kitchen: Electric cooktop; Dishwasher; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: High ceilings; Closet cabinetry; Unfurnished
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $749k.

Deal economics

• At list price, monthly cash flow is $709 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $714k (4.7% below list).
• Recommended offer: $714k (4.7% below list) — sets the bar for 1% rule.

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: Calusa Elementary School (math 83% / reading 85%, grade A+, #55 of 2,144 statewide, top 3%, 867 students, 17% FRL); Omni Middle School (math 66% / reading 66%, grade A-, #93 of 571 statewide, top 16%, 1,128 students, 29% FRL); Spanish River Community High School (math 64% / reading 74%, grade B, #63 of 667 statewide, top 10%, 2,578 students, 25% FRL) — zoned schools average 24% FRL vs 52% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 73% at this address vs 50% district-wide (+24 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 (+2.3%/yr); 324 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• In year one you build about $80k of equity ($5k loan paydown + $75k appreciation (10.0% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 2.3% rent growth), your $210k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$129k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 25y 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 $235k; list at $749k implies a 219% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $713,559 (4.7% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.95% ✗
• Cap rate: 7.43%
• Cash-on-cash: 4.06%
• DSCR: 1.18
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: 27.0%
• Equity multiple: 3.14×
• Total profit: $448,117
• Equity at exit: $674,759

10-year hold

• IRR: 23.4%
• Equity multiple: 7.08×
• Total profit: $1,274,324
• Equity at exit: $1,455,142

Cash invested: $209,720 (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 33496

• Home prices YoY: 3.5%
• Rents YoY: 2.3%
• Active inventory: 324
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $7,136 high
• Mortgage (P&I): −$3,928
• Tax from tax record: −$138 /mo · $1,658/yr
• Insurance: −$312
• HOA: −$550
• Vacancy / Maint / Mgmt: −$1,498
• Net cashflow: $709

Break-even live

Break-even rent $6,238

Max offer price $749,000

Occupancy floor 85%

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: $187,250
• Closing costs: $22,470
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6213 NW 21st Ct Boca Raton, FL	3.0	4.0	2746	$10,000	$3.64	24d	1	0.51mi
4695 Brandywine Dr Boca Raton, FL	3.0	3.0	1974	$4,750	$2.41	24d	1	0.58mi
6503 N Military Trl Boca Raton, FL	1.0–2.0	1.0–2.0	1155	$3,211	$2.78	2d	52	0.63mi
2464 NW 66th Dr Boca Raton, FL	3.0	3.5	2568	$10,000	$3.89	24d	1	0.78mi
17768 Maplewood Dr Boca Raton, FL	4.0	2.0	2123	$5,200	$2.45	22d	1	0.81mi
2485 NW 66th Dr Boca Raton, FL	3.0	2.5	2472	$9,500	$3.84	11d	1	0.82mi
2485 NW 66th Dr Boca Raton, FL	3.0	2.5	2472	$9,500	$3.84	24d	1	0.82mi
5605 Forest Oaks Ter Delray Beach, FL	3.0	3.0	2092	$10,000	$4.78	14d	1	0.97mi
16843 Boca Delray Dr Delray Beach, FL	2.0	2.0	1533	$4,900	$3.20	22d	1	1.02mi
5801 NW 24th Ave #1001 Boca Raton, FL	3.0	2.5	1957	$13,000	$6.64	17d	1	1.03mi
5555 N Military Trl Boca Raton, FL	2.0–3.0	2.0–3.0	1282	$5,069	$3.95	2d	21	1.06mi
17099 Ryton Ln Boca Raton, FL	3.0	2.5	2492	$18,000	$7.22	24d	1	1.11mi
16658 La Mesa Dr Delray Beach, FL	3.0	2.0	1779	$4,000	$2.25	24d	1	1.16mi
5500 N Military Trl Boca Raton, FL	1.0–3.0	1.0–2.0	1053	$5,719	$5.43	3d	27	1.16mi
2431 NW 59th St #404 Boca Raton, FL	3.0	2.5	1957	$10,000	$5.11	24d	1	1.17mi
2237 NW 53rd St Boca Raton, FL	3.0	3.5	2305	$25,000	$10.85	24d	1	1.20mi
2093 NW 52nd St Unit 2093 Boca Raton, FL	3.0	2.5	1835	$13,000	$7.08	24d	1	1.24mi
2011 NW 53rd St Boca Raton, FL	3.0	2.5	2461	$11,000	$4.47	13d	1	1.24mi
2218 NW 52nd St Boca Raton, FL	2.0	2.5	1482	$13,000	$8.77	24d	1	1.26mi
2034 NW 52nd St Boca Raton, FL	2.0	2.5	1527	$12,000	$7.86	24d	1	1.27mi
16850 Colchester Ct Delray Beach, FL	3.0	3.5	2715	$8,000	$2.95	19d	1	1.32mi
5072 Alencia Ct Delray Beach, FL	3.0	2.0	1638	$4,500	$2.75	24d	1	1.33mi
4983 Garden Dr Delray Beach, FL	3.0	2.0	2000	$15,000	$7.50	24d	1	1.34mi
17699 Tiffany Trace Dr Boca Raton, FL	4.0	3.0	2264	$8,000	$3.53	15d	1	1.34mi
3151 Clint Moore Rd #103 Boca Raton, FL	3.0	2.0	1497	$3,145	$2.10	24d	1	1.37mi
16415 Berry Way Delray Beach, FL	4.0	2.5	1605	$3,000	$1.87	17d	1	1.39mi
4801 S Citation Dr Delray Beach, FL	1.0–3.0	1.0–2.0	1180	$3,696	$3.13	2d	38	1.46mi
17712 Candlewood Ter Boca Raton, FL	3.0	2.0	1984	$5,000	$2.52	24d	1	1.46mi
17712 Candlewood Ter Boca Raton, FL	3.0	2.0	1984	$5,000	$2.52	5d	1	1.46mi
3143 Clint Moore Rd #105 Boca Raton, FL	3.0	2.0	1497	$3,250	$2.17	24d	1	1.47mi
5500 Broken Sound Blvd NW Boca Raton, FL	1.0–3.0	1.0–3.0	1258	$4,763	$3.78	3d	22	1.49mi

HOA detail condo

• Monthly dues: $550 · $6,600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-05-14
   status Pending
2. 2026-05-01
   listed $749,000 Active
3. 2015-12-22
   soldstatus $235,100
4. 2015-11-18
   soldstatus $235,000 Closed 172-char remark

   Show marketing remark (172 chars)

   Beautiful unit 3 BR 2.5 baths. Lovely golf view. Master bath completely remodeled. Many built-ins of great quality. Closet outfitted. Shows exquisite and all in fine taste.

5. 2015-04-28
   status Pending 172-char remark

   Show marketing remark (172 chars)

   Beautiful unit 3 BR 2.5 baths. Lovely golf view. Master bath completely remodeled. Many built-ins of great quality. Closet outfitted. Shows exquisite and all in fine taste.

6. 2015-03-11
   price $249,000 172-char remark

   Show marketing remark (172 chars)

   Beautiful unit 3 BR 2.5 baths. Lovely golf view. Master bath completely remodeled. Many built-ins of great quality. Closet outfitted. Shows exquisite and all in fine taste.

7. 2015-03-09
   listed $249,900 Active 172-char remark

   Show marketing remark (172 chars)

   Beautiful unit 3 BR 2.5 baths. Lovely golf view. Master bath completely remodeled. Many built-ins of great quality. Closet outfitted. Shows exquisite and all in fine taste.

8. 2013-12-01
   historical
9. 2011-06-30
   soldstatus $195,000
10. 2011-02-28
    historical
11. 2011-02-22
    listed $239,000
12. 2004-10-27
    soldstatus $194,000
13. 2004-10-20
    soldstatus $195,000
14. 2004-09-28
    historical
15. 2004-08-25
    listed $199,900
16. 2003-10-02
    historical
17. 2002-11-26
    listed $184,900
18. 2002-10-29
    soldstatus $185,000
19. 2002-01-15
    listed $199,000
20. 2002-01-15
    historical
21. 2001-01-12
    listed $199,000
22. 1995-05-12
    soldstatus $182,000
23. 1995-05-12
    soldstatus $182,000
24. 1988-02-01
    soldstatus $189,000

ⓘ 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: $1,658 · $138/mo
• Projected year-2 tax: $6,217 · $518/mo
• Expected delta: +$4,558/yr (+$380/mo · 274.9%)

ⓘ 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 · 21 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: $85,627
• − Mortgage interest: −$41,956
• − Property taxes: −$1,658
• − Insurance: −$3,745
• − Repairs & maintenance: −$6,850
• − Management: −$6,850
• − HOA: −$6,600
• − Depreciation: −$21,789
• Taxable loss: −$3,821
• Est. tax savings @ 24.0%: +$917
• After-tax cash flow: $9,425/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): 26,579
• Household income: $114,885
• Rent vs Own: 16.5% rent · 83.5% own
• Severe rent burden: 464.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Two or more races 8% Asian 5% Black 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Scotch-Irish 13% Romanian 9% Italian 3%
• Foreign-born: 24% · Canada, Jamaica, Dominican Republic
• Languages at home: 75% English-only · Spanish 9% Other Indo-European 5% Russian/Polish/Slavic 4%

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: ▲ 10.48%
• Current HPI: 313.9058
• Rent YoY: ▲ 2.31%
• 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

+296.3% since first listed

24 events — show timeline

• 2026-05-14 Pending — Beaches MLS
• 2026-05-01 Listed $749,000 Beaches MLS
• 2015-12-22 Sold (Public Records) $235,100 Public Records
• 2015-11-18 Sold (MLS) $235,000 Beaches MLS
• 2015-04-28 Pending — Beaches MLS
• 2015-03-11 Price Changed $249,000 Beaches MLS
• 2015-03-09 Listed $249,900 Beaches MLS
• 2013-12-01 Listing Removed — Beaches MLS
• 2011-06-30 Sold (MLS) $195,000 Beaches MLS
• 2011-02-28 Listing Removed — Beaches MLS
• 2011-02-22 Listed $239,000 Beaches MLS
• 2004-10-27 Sold (Public Records) $194,000 Public Records
• 2004-10-20 Sold (MLS) $195,000 Beaches MLS
• 2004-09-28 Listing Removed — Beaches MLS
• 2004-08-25 Listed $199,900 Beaches MLS
• 2003-10-02 Listing Removed — Beaches MLS
• 2002-11-26 Listed $184,900 Beaches MLS
• 2002-10-29 Sold (Public Records) $185,000 Public Records
• 2002-01-15 Listing Removed — Beaches MLS
• 2002-01-15 Listed $199,000 Beaches MLS
• 2001-01-12 Listed $199,000 Beaches MLS
• 1995-05-12 Sold (Public Records) $182,000 Public Records
• 1995-05-12 Sold (Public Records) $182,000 Public Records
• 1988-02-01 Sold (Public Records) $189,000 Public Records

Property tax history

-3.4%/yr

Latest (2025): $1,658 · +3.6% YoY. Source: county tax records.