205 NE 3rd St #105 · Boynton Beach, FL 33435

$135,000

1 bd · 1.0 ba · 560 sqft · Condo public records · 250 Days on market

Built 1972 $425/mo HOA · 22% 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 +21.9/30.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 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

1/1 FIRST FLOOR UNIT. CONVENIENTLY SITUATED WITHIN WALKING DISTANCE TO BOYNTON BEACH DOWNTOWN AREA. CLOSE TO PUBLIC TRANSPORTATION, RESTAURANTS AND APPROX 1 MILE TO BEACH. GREAT INVESTMENT OPPORTUNITY. UNIT IS TENANT-OCCUPIED.

Key facts

• Close to restaurants
• 1 mile to beach
• First floor unit

Tags

• FIRST FLOOR UNIT
• CLOSE TO PUBLIC TRANSPORTATION
• CLOSE TO RESTAURANTS
• 1 MILE TO BEACH

Property features AI

Finance

• Other: Pets not allowed
• Financial info: No multifamily cash flow or income/expense details provided
• HOA & community: Association with monthly fee; Association fee covers water, trash, grounds maintenance, and common areas; Association provides laundry; Monthly HOA fee: $425

Exterior

• Parking: Parking details not provided
• Security: No security features listed
• Utilities: Public water; Public sewer; Three-phase electric; Sewer and water available
• Home design: Condominium; Two-story building; Resale property; Facing east
• Construction: CBS construction
• Exterior features: Not waterfront

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: One bedroom on the main level
• Flooring: Ceramic tile
• Bathrooms: One full bathroom
• Heating & cooling: Central heating; Central air conditioning (electric)
• Interior features: No interior features specified
• Laundry & utility: Laundry available through the association

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $212 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: Forest Park Elementary School (math 42% / reading 38%, grade F, #1,491 of 2,144 statewide, top 70%, 571 students, 81% 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 73% FRL vs 52% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 50% district-wide (-22 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); 539 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).
• This rent runs 35% of the median local income ($68k/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 $933 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.

Negotiation context

• It's been on market 250 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $51k; list at $135k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% 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 $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 250 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 1972 — 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: 1.46% ✓
• Cap rate: 8.18%
• Cash-on-cash: 6.73%
• DSCR: 1.30
• GRM: 5.7

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: -4.8%
• Equity multiple: 0.82×
• Total profit: $-6,807
• Equity at exit: $20,129

10-year hold

• IRR: 6.1%
• Equity multiple: 1.47×
• Total profit: $17,940
• Equity at exit: $11,672

Cash invested: $37,800 (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: 539
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,975 high
• Mortgage (P&I): −$708
• Tax from tax record: −$159 /mo · $1,909/yr
• Insurance: −$56
• HOA: −$425
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $212

Break-even live

Break-even rent $1,707

Max offer price $135,000

Occupancy floor 84%

Sensitivity live

Price	-10% $288	-5% $250	+0% $212	+5% $174	+10% $136
Rent	-10% $56	-5% $134	+0% $212	+5% $290	+10% $368
Rate	-1.0pp $280	-0.5pp $246	base $212	+0.5pp $177	+1.0pp $141

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 S Federal Hwy Boynton Beach, FL	1.0–2.0	1.0–2.0	906	$2,012	$2.22	0d	15	0.21mi
400 N Federal Hwy Unit N304 Boynton Beach, FL	1.0	1.0	640	$2,400	$3.75	26d	1	0.25mi
115 SW 1st Ave Boynton Beach, FL	1.0–2.0	1.0–2.0	804	$1,875	$2.33	16d	2	0.25mi
518 NE 4th St Unit A Boynton Beach, FL	1.0	1.0	500	$1,700	$3.40	17d	1	0.27mi
207 SE 4th Ave Boynton Beach, FL	1.0	1.0	650	$1,795	$2.76	3d	1	0.28mi
100 NE 6th St Boynton Beach, FL	1.0	1.0	745	$2,975	$3.99	13d	3	0.31mi
100 NE 6th St Boynton Beach, FL	1.0	1.0	745	$2,975	$3.99	21d	3	0.31mi
640 SE 2nd Ave Unit 111 Boynton Beach, FL	1.0	1.0	650	$1,720	$2.65	4d	1	0.31mi
240 Horizons W #108 Boynton Beach, FL	1.0	1.5	646	$1,600	$2.48	26d	1	0.33mi
620 Horizons W #207 Boynton Beach, FL	1.0	1.0	570	$1,200	$2.11	26d	1	0.44mi
615 NE 7th Ave Boynton Beach, FL	1.0	1.0	698	$1,699	$2.43	19d	1	0.45mi
689 NE 6th Ct #4070 Boynton Beach, FL	1.0	1.0	703	$1,900	$2.70	19d	1	0.52mi
689 NE 6th Ct #404 Boynton Beach, FL	1.0	1.0	703	$2,000	$2.84	26d	1	0.52mi
650 Horizons E #107 Boynton Beach, FL	1.0	1.0	570	$1,600	$2.81	26d	1	0.55mi
800 Horizons W #211 Boynton Beach, FL	1.0	1.0	570	$1,650	$2.89	16d	1	0.55mi
850 Horizons E #309 Boynton Beach, FL	1.0	1.5	646	$1,990	$3.08	22d	1	0.59mi
1001 S Federal Hwy Unit 3 Boynton Beach, FL	1.0	1.0	650	$1,995	$3.07	26d	1	0.62mi
717 NE 10th Ave Unit 6 Boynton Beach, FL	1.0	1.0	700	$1,600	$2.29	9d	1	0.67mi
656 Manor Dr Unit 3 Boynton Beach, FL	—	1.0	650	$1,600	$2.46	23d	1	0.69mi
6520 N Ocean Blvd Apt 3 Ocean Ridge, FL	1.0	1.0	702	$3,500	$4.99	26d	1	0.81mi
6520 N Ocean Blvd Ocean Ridge, FL	1.0–2.0	1.0	776	$2,400	$3.09	13d	1	0.81mi
430 NW 12th Ave Unit A Boynton Beach, FL	1.0	1.0	500	$2,195	$4.39	26d	1	0.84mi
638 Snug Harbor Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	747	$1,600	$2.14	26d	2	0.84mi
408 NW 13th Ave Unit 2 Boynton Beach, FL	1.0	1.0	400	$1,375	$3.44	26d	1	0.85mi
640 Snug Harbor Dr Unit F3 Boynton Beach, FL	1.0	1.0	629	$2,500	$3.97	12d	1	0.87mi
5505 N Ocean Blvd Ocean Ridge, FL	1.0–2.0	1.0–2.0	774	$1,950	$2.52	12d	3	1.15mi
515 SE 20th Ave Boynton Beach, FL	2.0	1.0	787	$1,719	$2.18	1d	5	1.20mi
405 SE 20th Ave Unit 5F Boynton Beach, FL	—	1.0	600	$1,489	$2.48	23d	1	1.20mi
2303 S Federal Hwy #19 Boynton Beach, FL	1.0	1.0	615	$1,450	$2.36	7d	1	1.36mi
2301 SE 4th St Unit 15 Boynton Beach, FL	1.0	1.0	573	$1,545	$2.70	26d	1	1.36mi
2301 SE 4th St #11 Boynton Beach, FL	1.0	1.0	573	$1,595	$2.78	26d	1	1.36mi
22 Oceanview Dr Ocean Ridge, FL	1.0	1.0	620	$3,500	$5.65	26d	1	1.37mi
1407 Tuscany Way #1407 Boynton Beach, FL	1.0	1.0	721	$2,100	$2.91	4d	1	1.39mi
2412 Tuscany Way Boynton Beach, FL	1.0	1.0	750	$3,000	$4.00	26d	1	1.41mi
21 Ruthmary Ave Unit G Briny Breezes, FL	1.0	1.0	396	$2,850	$7.20	26d	1	1.49mi

HOA detail condo

• Monthly dues: $425 · $5,100/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $135,000 Active 250 DOM
2. 2026-06-18
   days on market $135,000 Active 247 DOM
3. 2026-06-17
   days on market $135,000 Active 246 DOM
4. 2026-06-16
   days on market $135,000 Active 245 DOM
5. 2026-06-15
   days on market $135,000 Active 244 DOM
6. 2026-06-13
   days on market $135,000 Active 242 DOM
7. 2026-06-09
   days on market $135,000 Active 238 DOM
8. 2026-06-07
   days on market $135,000 Active 236 DOM
9. 2026-06-04
   days on market $135,000 Active 233 DOM
10. 2026-06-03
    days on market $135,000 Active 232 DOM
11. 2026-06-01
    days on market $135,000 Active 230 DOM
12. 2026-05-31
    days on market $135,000 Active 229 DOM
13. 2026-05-05
    price $135,000
14. 2026-01-05
    price $148,000
15. 2025-11-27
    price $149,000
16. 2025-10-14
    listed $162,000 Active
17. 2004-06-23
    soldstatus $51,000
18. 1993-12-30
    soldstatus $22,500

ⓘ 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: $1,909 · $159/mo
• Projected year-2 tax: $1,909 · $159/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: $23,702
• − Mortgage interest: −$7,562
• − Property taxes: −$1,909
• − Insurance: −$675
• − Repairs & maintenance: −$1,896
• − Management: −$1,896
• − HOA: −$5,100
• − Depreciation: −$3,927
• Taxable income: $735
• Est. tax owed @ 24.0%: −$177
• After-tax cash flow: $2,368/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

+500.0% since first listed

6 events — show timeline

• 2026-05-05 Price Changed $135,000 Beaches MLS
• 2026-01-05 Price Changed $148,000 Beaches MLS
• 2025-11-27 Price Changed $149,000 Beaches MLS
• 2025-10-14 Listed $162,000 Beaches MLS
• 2004-06-23 Sold (Public Records) $51,000 Public Records
• 1993-12-30 Sold (Public Records) $22,500 Public Records

Property tax history

+7.3%/yr

Latest (2025): $1,909 · -4.6% YoY. Source: county tax records.