10138 S 45th Ter · Golf, FL 33436

$159,900

2 bd · 2.0 ba · 1,238 sqft · SingleFamily · 232 Days on market

Built 1983 $682/mo HOA · 28% of rent ↓ 20% since listing

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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 +17.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well maintained 2 bedroom/2 bath villa, freshly painted and ready for you to call home. Enjoy easy living with no carpeting. This home features ceramic tile and new laminate plank flooring for a clean, modern feel and low-maintenance lifestyle. The spacious layout offers comfortable living and dining areas, a well-appointed kitchen, and two generously sized bedrooms, each with ample closet space. Maintenance includes cable, common areas, insurance on building, lawn care, maintenance -exterior, roof maintenance, sewer, trash removal, outdoor pest control and water. Community offers three heated pools (villa convenient to one of them), fitness center, tennis, pickleball, billi

Key facts

• Tennis
• Fitness center
• Ceramic tile

Tags

• CERAMIC TILE
• LAMINATE PLANK FLOORING
• WELL-APPOINTED KITCHEN
• THREE HEATED POOLS
• FITNESS CENTER
• TENNIS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $127 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#703 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, 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: Crosspointe Elementary School (math 36% / reading 45%, grade F, #1,471 of 2,144 statewide, top 69%, 652 students, 75% 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 71% FRL vs 52% district-wide (19 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 soft (-0.6%/yr); 445 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 38% 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 $1k of loan paydown is wiped out by about $5k 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 232 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 232 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.52% ✓
• Cap rate: 7.25%
• Cash-on-cash: 3.41%
• DSCR: 1.15
• GRM: 5.5

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: -16.1%
• Equity multiple: 0.45×
• Total profit: $-24,453
• Equity at exit: $23,842

10-year hold

• IRR: -19.6%
• Equity multiple: 0.19×
• Total profit: $-36,451
• Equity at exit: $13,825

Cash invested: $44,772 (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: 5.5×

Monthly cashflow live

• Estimated rent: $2,423 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• HOA: −$682
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $127

Break-even live

Break-even rent $2,262

Max offer price $159,900

Occupancy floor 90%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4525 Nutmeg Tree Ln Unit A Boynton Beach, FL	2.0	2.0	1404	$3,000	$2.14	24d	1	0.16mi
9940 Bauhinia Tree Way Unit B Boynton Beach, FL	1.0	1.0	1200	$2,000	$1.67	24d	1	0.20mi
9940 Bauhinia Tree Way Unit B Boynton Beach, FL	1.0	1.0	1200	$1,800	$1.50	7d	1	0.20mi
9900 Pineapple Tree Dr #106 Boynton Beach, FL	2.0	2.0	1008	$2,250	$2.23	24d	1	0.31mi
9935 Pineapple Tree Dr #202 Boynton Beach, FL	2.0	2.0	1008	$2,575	$2.55	15d	1	0.33mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,315	$1.93	4d	1	0.52mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,267	$1.89	22d	1	0.52mi
4944 Equestrian Cir Unit A Boynton Beach, FL	2.0	2.0	1400	$2,500	$1.79	7d	1	0.55mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,394	$2.39	3d	1	0.65mi
5020 Ashley Lake Dr Boynton Beach, FL	1.0	1.0	784	$2,074	$2.65	24d	1	0.65mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,346	$2.34	14d	1	0.65mi
5157 Floria Way Unit J Boynton Beach, FL	3.0	2.0	1447	$3,300	$2.28	24d	1	0.74mi
5217 Cedar Lake Rd Boynton Beach, FL	1.0–3.0	1.0–2.0	1030	$2,266	$2.20	1d	51	0.75mi
9498 S Military Trl #5 Boynton Beach, FL	3.0	2.5	1317	$2,900	$2.20	24d	1	0.79mi
5155 Europa Dr Unit J Boynton Beach, FL	3.0	2.0	1333	$2,750	$2.06	24d	1	0.81mi
5133 Brisata Cir Unit P Boynton Beach, FL	3.0	2.0	1374	$2,800	$2.04	24d	1	0.81mi
9746 Nickels Blvd Boynton Beach, FL	2.0	2.0	1215	$2,800	$2.30	24d	1	0.90mi
10187 Mangrove Dr #104 Boynton Beach, FL	2.0	2.0	1260	$2,350	$1.87	24d	1	0.93mi
4249 Quail Ridge Dr N Unit A Boynton Beach, FL	2.0	2.0	1212	$4,000	$3.30	24d	1	0.98mi
5418 Firenze Dr Unit P Boynton Beach, FL	2.0	2.0	1139	$2,400	$2.11	3d	1	1.01mi
10592 Tropic Palm Ave #202 Boynton Beach, FL	2.0	2.0	1385	$2,450	$1.77	24d	1	1.03mi
4116 Quail Ridge Dr N Unit A Boynton Beach, FL	2.0	2.0	1267	$3,800	$3.00	24d	1	1.03mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$2,950	$2.35	2d	1	1.04mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$3,000	$2.39	24d	1	1.04mi
10624 Tropic Palm Ave #202 Boynton Beach, FL	3.0	2.0	1385	$2,550	$1.84	24d	1	1.07mi
5275 Europa Dr Unit I Boynton Beach, FL	3.0	2.0	1282	$2,500	$1.95	1d	1	1.07mi
5373 Mirror Lakes Blvd Boynton Beach, FL	3.0	2.0	1310	$2,100	$1.60	24d	1	1.11mi
3561 Oberon Ave Boynton Beach, FL	3.0	2.0	1248	$2,850	$2.28	20d	1	1.13mi
10423 Boynton Place Cir Boynton Beach, FL	2.0	1.0	861	$2,200	$2.56	18d	1	1.14mi
10423 Boynton Place Cir Boynton Beach, FL	2.0	1.0	861	$2,200	$2.56	7d	1	1.14mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,375	$2.33	1d	19	1.16mi
401 Belmont Pl Boynton Beach, FL	2.0	2.0	1143	$2,300	$2.01	24d	1	1.20mi
1201 Belmont Pl Boynton Beach, FL	2.0	2.0	1143	$2,400	$2.10	24d	1	1.20mi
204 Belmont Pl Boynton Beach, FL	1.0	1.0	878	$2,200	$2.51	24d	1	1.20mi
1101 Belmont Pl #1101 Boynton Beach, FL	2.0	2.0	1143	$2,300	$2.01	20d	1	1.20mi
1201 Belmont Pl Boynton Beach, FL	2.0	2.0	1143	$2,400	$2.10	19d	1	1.20mi
5724 Boynton Cres Boynton Beach, FL	2.0	1.0	861	$2,300	$2.67	24d	1	1.20mi
8949 Oak St Boynton Beach, FL	2.0	2.0	1040	$1,300	$1.25	24d	1	1.23mi
3736 Coelebs Ave Boynton Beach, FL	3.0	2.0	1232	$3,000	$2.44	24d	1	1.30mi
2788 Wood Fern Dr Boynton Beach, FL	2.0	2.0	1472	$2,900	$1.97	24d	1	1.38mi

HOA detail

• Monthly dues: $682 · $8,184/yr
• Likely covers: watersewertrashcablelandscapingroofpoolgym

Listing history 5 events

1. 2026-04-24
   status Pending
2. 2026-04-21
   price $159,900
3. 2026-02-14
   price $179,900
4. 2025-10-31
   price $192,000
5. 2025-09-04
   listed $200,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 29 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: $29,077
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$800
• − Repairs & maintenance: −$2,326
• − Management: −$2,326
• − HOA: −$8,184
• − Depreciation: −$4,652
• Taxable loss: −$565
• Est. tax savings @ 24.0%: +$136
• After-tax cash flow: $1,662/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 — Golf

• Score: 63/100
• State rank: #703
• US rank: #14941

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• 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

-20.1% since first listed

5 events — show timeline

• 2026-04-24 Pending — Beaches MLS
• 2026-04-21 Price Changed $159,900 Beaches MLS
• 2026-02-14 Price Changed $179,900 Beaches MLS
• 2025-10-31 Price Changed $192,000 Beaches MLS
• 2025-09-04 Listed $200,000 Beaches MLS