112 Preston Way Unit 112 C · Boca Raton, FL 33434

$139,900

2 bd · 1.5 ba · 840 sqft · Condo public records · 15 Days on market

Built 1981 $484/mo HOA · 26% of rent

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Why this score? — see what drove the D+ 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 +15.1/30.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this two-bedroom, one-and-a-half-bath waterfront condominium nestled in the vibrant Century Village/Preston community of Boca Raton, Florida. This charming three-story residence spans 835 square feet of thoughtfully designed living space, offering an efficient floor plan perfect for comfortable daily living. As a waterfront property, this condo provides the unique advantage of aquatic access and scenic vistas. Located within the established Century Village/Preston community, residents enjoy convenient access to all that the area has to offer. This waterfront condominium presents an excellent opportunity for those seeking a well-positioned property in Boca Raton. Details, Measurem

Key facts

• Aquatic access
• Scenic vistas
• $484 HOA

Tags

• WATERFRONT CONDOMINIUM
• AQUATIC ACCESS
• SCENIC VISTAS

Property features AI

Finance

• Other: Association amenities include internet included
• Financial info: Pets not allowed
• HOA & community: Has association (Preston / First Service); Monthly HOA fee; HOA includes cable TV, insurance, internet, grounds maintenance, security, sewer, trash, water, elevator, and recreation facilities; Community amenities: clubhouse, fitness center, pool, tennis courts, pickleball and shuffleboard courts, bocce ball, billiard room, community room, picnic area, car wash area, courtesy bus, street lights, recreation facilities, parking; Community of 5,712 units; Senior community

Exterior

• Parking: Assigned parking; Guest parking; Total of 1 parking space
• Security: Gated community with guard; Security gate
• Utilities: Public water; Public sewer; Cable available; Electricity available
• Home design: Condominium; Resale condition; Three-story building; Building labeled C; Faces east; West of US-1 road frontage
• Construction: Block construction; Low VOC insulation; Tar/gravel roof; Built with public-records listed living area of 835
• Exterior features: Covered patio; Screened patio; Patio; Waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Two main-level bedrooms
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: One full bath; One half bath
• Heating & cooling: Central heating; Central air conditioning; Has heating and cooling
• Interior features: Walk-in closets; Stacked bedroom layout; Custom mirrors; Furnished
• Laundry & utility: Community laundry available; Cable connected; Water connected; Sewer available; Electricity available

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $46 ($547/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 2.7% 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: Whispering Pines Elementary School (math 62% / reading 69%, grade B+, #500 of 2,144 statewide, top 24%, 1,015 students, 25% FRL); Eagles Landing Middle School (math 66% / reading 67%, grade A-, #84 of 571 statewide, top 16%, 1,508 students, 27% FRL); Olympic Heights Community High (math 52% / reading 64%, grade C, #120 of 667 statewide, top 18%, 2,602 students, 30% FRL) — zoned schools average 27% FRL vs 52% district-wide (25 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 63% at this address vs 50% district-wide (+14 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 (+1.8%/yr); 421 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $967 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 15 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y 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 $65k; list at $140k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 26% 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 $137,801 (1.5% 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 1.33% ✓
• Cap rate: 6.68%
• Cash-on-cash: 1.40%
• DSCR: 1.06
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.81% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.45×
• Total profit: $-21,661
• Equity at exit: $20,860

10-year hold

• IRR: -10.2%
• Equity multiple: 0.42×
• Total profit: $-22,699
• Equity at exit: $12,096

Cash invested: $39,172 (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 33434

• Rents YoY: 1.8%
• Active inventory: 421
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,865 high
• Mortgage (P&I): −$734
• Tax from tax record: −$152 /mo · $1,820/yr
• Insurance: −$58
• HOA: −$484
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $46

Break-even live

Break-even rent $1,807

Max offer price $139,900

Occupancy floor 93%

Sensitivity live

Price	-10% $125	-5% $85	+0% $46	+5% $6	+10% $-34
Rent	-10% $-102	-5% $-28	+0% $46	+5% $119	+10% $193
Rate	-1.0pp $116	-0.5pp $81	base $46	+0.5pp $9	+1.0pp $-28

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
74 Preston Way Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	23d	1	0.03mi
74 Preston Way Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	25d	1	0.03mi
91 Preston Way Unit 91 Boca Raton, FL	1.0	1.0	600	$1,500	$2.50	25d	1	0.03mi
204 Preston Way #204 Boca Raton, FL	1.0	1.0	810	$1,500	$1.85	2d	1	0.03mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,350	$1.88	25d	1	0.03mi
149 Preston Way #149 Boca Raton, FL	1.0	1.5	720	$1,300	$1.81	3d	1	0.03mi
84 Mansfield Dr Unit 84 Boca Raton, FL	2.0	1.5	840	$1,583	$1.88	25d	1	0.14mi
9 Mansfield B #9 Boca Raton, FL	1.0	1.5	810	$1,400	$1.73	25d	1	0.14mi
431 Mansfield K Unit K Boca Raton, FL	2.0	1.5	835	$1,600	$1.92	23d	1	0.14mi
392 Mansfield I Unit I Boca Raton, FL	2.0	1.5	840	$1,850	$2.20	25d	1	0.14mi
543 Mansfield M #543 Boca Raton, FL	2.0	1.5	835	$1,890	$2.26	25d	1	0.14mi
588 Mansfield M Unit M Boca Raton, FL	2.0	1.5	835	$1,475	$1.77	25d	1	0.14mi
445 Mansfield M Unit 445 Boca Raton, FL	2.0	1.5	840	$1,700	$2.02	9d	1	0.14mi
162 Preston D Boca Raton, FL	1.0	1.0	810	$1,495	$1.85	25d	1	0.18mi
77 Preston Way #77 Boca Raton, FL	1.0	1.0	600	$1,350	$2.25	9d	1	0.18mi
351 Mansfield Dr #351 Boca Raton, FL	2.0	1.5	840	$2,300	$2.74	25d	1	0.18mi
77 Preston Way #77 Boca Raton, FL	1.0	1.0	600	$1,450	$2.42	23d	1	0.18mi
517 Mansfield M Unit 517 Boca Raton, FL	1.0	1.5	715	$1,550	$2.17	25d	1	0.21mi
474 Mansfield L Unit L Boca Raton, FL	1.0	1.5	720	$1,400	$1.94	12d	1	0.26mi
457 Mansfield I Unit 457 Boca Raton, FL	1.0	1.5	720	$1,700	$2.36	4d	1	0.27mi
144 Mansfield D Unit d Boca Raton, FL	2.0	1.5	840	$1,500	$1.79	22d	1	0.27mi
202 Mansfield E Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	0d	1	0.27mi
332 Mansfield H Boca Raton, FL	2.0	1.5	840	$1,650	$1.96	25d	1	0.27mi
209 Suffolk F Unit F Boca Raton, FL	1.0	1.5	720	$1,400	$1.94	25d	1	0.27mi
169 Suffolk F Unit F Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	0d	1	0.27mi
68 Suffolk F Unit 68 Boca Raton, FL	1.0	1.5	720	$2,750	$3.82	25d	1	0.27mi
250 Suffolk F #250 Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	4d	1	0.27mi
171 Suffolk F #171 Boca Raton, FL	1.0	1.5	720	$1,500	$2.08	12d	1	0.27mi
84 Mansfield B #84 Boca Raton, FL	2.0	1.5	840	$1,550	$1.85	0d	1	0.28mi
4030 Rexford A Unit 403 Boca Raton, FL	2.0	2.0	896	$1,700	$1.90	9d	1	0.28mi
4030 Rexford A Unit 403 Boca Raton, FL	2.0	2.0	896	$1,850	$2.06	25d	1	0.28mi
445 Mansfield K #445 Boca Raton, FL	2.0	1.5	840	$1,700	$2.02	9d	1	0.28mi
256 Mansfield G Unit G Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	20d	1	0.28mi
540 Mansfield M Boca Raton, FL	1.0	1.0	810	$1,400	$1.73	25d	1	0.28mi
86 Mansfield C Unit C Boca Raton, FL	1.0	1.5	720	$1,700	$2.36	13d	1	0.28mi
534 Mansfield M #534 Boca Raton, FL	1.0	1.5	715	$1,300	$1.82	25d	1	0.28mi
375 Mansfield I Unit I Boca Raton, FL	2.0	1.5	840	$1,625	$1.93	0d	1	0.28mi
497 Mansfield L Unit L Boca Raton, FL	1.0	1.0	810	$1,500	$1.85	0d	1	0.28mi
1030 Rexford B Boca Raton, FL	2.0	2.0	896	$1,800	$2.01	25d	1	0.31mi
4030 Rexford B Boca Raton, FL	2.0	2.0	916	$1,700	$1.86	20d	1	0.31mi

HOA detail condo

• Monthly dues: $484 · $5,808/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-21
   days on market $139,900 Active 15 DOM
2. 2026-06-18
   days on market $139,900 Active 12 DOM
3. 2026-06-17
   days on market $139,900 Active 11 DOM
4. 2026-06-16
   days on market $139,900 Active 10 DOM
5. 2026-06-15
   days on market $139,900 Active 9 DOM
6. 2026-06-13
   days on market $139,900 Active 7 DOM
7. 2026-06-09
   days on market $139,900 Active 3 DOM
8. 2026-06-08
   days on market $139,900 Active 2 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $139,900 Active 1 DOM

ⓘ 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: $1,820 · $152/mo
• Projected year-2 tax: $1,820 · $152/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 7 d/yr ≥107°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,378
• − Mortgage interest: −$7,837
• − Property taxes: −$1,820
• − Insurance: −$700
• − Repairs & maintenance: −$1,790
• − Management: −$1,790
• − HOA: −$5,808
• − Depreciation: −$4,070
• Taxable loss: −$1,437
• Est. tax savings @ 24.0%: +$345
• After-tax cash flow: $892/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): 21,686
• Household income: $77,269
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 812.0

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% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 9% Scotch-Irish 8% Italian 2%
• Foreign-born: 25% · Canada, Jamaica, South Korea
• Languages at home: 73% English-only · Spanish 15% Other Indo-European 4% Russian/Polish/Slavic 1%

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: ▼ -279.89%
• Current HPI: 271.1328
• Rent YoY: ▲ 1.81%
• 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

+129.3% since first listed

20 events — show timeline

• 2026-06-05 Listed $139,900 Beaches MLS
• 2025-11-13 Rental Removed $2,200 RMLSFL
• 2025-10-22 Listed for Rent $2,200 RMLSFL
• 2025-10-10 Rental Removed $2,200 RMLSFL
• 2025-09-17 Price Changed $2,200 RMLSFL
• 2025-07-30 Listed for Rent $2,800 RMLSFL
• 2024-03-02 Rental Removed $2,499 GFLMLS
• 2023-12-06 Price Changed $2,499 GFLMLS
• 2023-11-18 Listed for Rent $2,900 GFLMLS
• 2015-02-06 Listing Removed — Beaches MLS
• 2014-08-04 Relisted — Beaches MLS
• 2014-08-04 Price Changed $58,900 Beaches MLS
• 2013-12-18 Listing Removed — Beaches MLS
• 2013-10-28 Contingent — Beaches MLS
• 2013-08-12 Listed $65,000 Beaches MLS
• 2008-01-15 Sold (Public Records) $65,000 Public Records
• 2004-05-05 Sold (Public Records) $66,000 Public Records
• 2003-07-07 Sold (Public Records) $51,000 Public Records
• 1994-03-21 Sold (Public Records) $59,500 Public Records
• 1988-04-01 Sold (Public Records) $61,000 Public Records

Property tax history

+7.1%/yr

Latest (2025): $1,820 · -0.6% YoY. Source: county tax records.