2069 Exeter Unit D · Boca Raton, FL 33434

$124,500

2 bd · 1.5 ba · 861 sqft · Condo public records · 462 Days on market

Built 1979 $547/mo HOA · 28% 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 +19.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 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 MLS

2ND FLOOR WITH NEW APPLICANCE, CAPET, PAINTED, ENCLOSED PATIO CLOSET ON PATIO - A PERFECT PRICE FOR A PERFECT UNIT - SUPRA NO APPOINTMENT.

Key facts

• Theater
• Clubhouse
• Screened balcony

Tags

• VIEW OF THE LAKE
• SCREENED BALCONY
• CLUBHOUSE
• THEATER
• TENNIS COURTS
• POOLS

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee (primary): $547; Additional monthly association fee: $285; Association covers management, grounds maintenance, structure maintenance, security, laundry, elevator service, and utilities as listed; Community amenities include clubhouse, fitness center, billiard room, pool, sauna, spa/hot tub, tennis courts, transportation service and elevator(s); Senior community

Exterior

• Parking: Assigned parking (one space)
• Security: Key card entry; On-site security guard; Smoke detectors
• Utilities: Water included in association fee; Sewer included in association fee; Cable TV included in association fee; Internet included in association fee; Hot water included in association fee; Trash service included in association fee; Power: central systems
• Home design: Attached property; 4-story building; Entry located on level 2; Has a view
• Construction: Block construction; Resale property
• Exterior features: Balcony; Screened balcony; Association pool

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Entry on level 2
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds on windows; Closet cabinetry; Combined living/dining room
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $124k.

Deal economics

• At list price, monthly cash flow is $147 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $124k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 2.8% 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: schools A+, employment A+, health & safety A+; 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.
• 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 25d 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 31% of the median local income ($77k/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 $861 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 462 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 28y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $124k implies a 66% gain — meaningful room to come down on a strong offer.

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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 462 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 1979 — 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. 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?
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: 1.59% ✓
• Cap rate: 7.71%
• Cash-on-cash: 5.04%
• DSCR: 1.22
• GRM: 5.2

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: -10.2%
• Equity multiple: 0.63×
• Total profit: $-12,813
• Equity at exit: $18,563

10-year hold

• IRR: -3.2%
• Equity multiple: 0.80×
• Total profit: $-7,012
• Equity at exit: $10,764

Cash invested: $34,860 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,979 high
• Mortgage (P&I): −$653
• Tax from tax record: −$165 /mo · $1,981/yr
• Insurance: −$52
• HOA: −$547
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $147

Break-even live

Break-even rent $1,793

Max offer price $124,500

Occupancy floor 88%

Sensitivity live

Price	-10% $217	-5% $182	+0% $147	+5% $111	+10% $76
Rent	-10% $-10	-5% $68	+0% $147	+5% $225	+10% $303
Rate	-1.0pp $209	-0.5pp $178	base $147	+0.5pp $114	+1.0pp $81

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: $31,125
• Closing costs: $3,735
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2027 Exeter B Boca Raton, FL	2.0	1.5	861	$1,650	$1.92	25d	1	0.02mi
4070 Exeter D Boca Raton, FL	2.0	1.5	861	$1,600	$1.86	25d	1	0.02mi
4039 Exeter C Boca Raton, FL	2.0	1.5	880	$1,500	$1.70	25d	1	0.07mi
1047 Exeter C Boca Raton, FL	2.0	1.5	880	$1,850	$2.10	21d	1	0.07mi
4042 Exeter C Boca Raton, FL	2.0	1.5	861	$1,500	$1.74	25d	1	0.07mi
3037 Cornwall B Boca Raton, FL	2.0	1.5	861	$3,000	$3.48	15d	1	0.15mi
3043 Exeter Boca Raton, FL	2.0	1.5	861	$1,949	$2.26	25d	1	0.16mi
3031 Cornwall B Boca Raton, FL	1.0	1.5	738	$1,550	$2.10	25d	1	0.16mi
4043 Cornwall C #4043 Boca Raton, FL	2.0	1.5	861	$2,450	$2.85	25d	1	0.16mi
2043 Cornwall C #2043 Boca Raton, FL	2.0	1.5	861	$1,800	$2.09	25d	1	0.16mi
1043 Cornwall C Boca Raton, FL	2.0	1.5	861	$1,795	$2.08	15d	1	0.16mi
2039 Rexford C Boca Raton, FL	2.0	2.0	896	$1,550	$1.73	25d	1	0.18mi
4030 Rexford B Boca Raton, FL	2.0	2.0	916	$1,700	$1.86	19d	1	0.18mi
1030 Rexford B Boca Raton, FL	2.0	2.0	896	$1,800	$2.01	25d	1	0.18mi
4079 Cornwall Dr Unit 4079 Boca Raton, FL	2.0	1.5	861	$1,500	$1.74	25d	1	0.20mi
4078 Exeter Unit E Boca Raton, FL	2.0	1.5	861	$1,475	$1.71	3d	1	0.21mi
2052 Cornwall Dr Unit 2052 Boca Raton, FL	1.0	1.5	738	$3,150	$4.27	25d	1	0.21mi
3014 Cornwall a Boca Raton, FL	1.0	1.5	738	$1,650	$2.24	2d	1	0.21mi
3014 Cornwall a Boca Raton, FL	1.0	1.5	738	$1,775	$2.41	3d	1	0.21mi
3070 Cornwall D Boca Raton, FL	1.0	1.5	738	$3,200	$4.34	25d	1	0.21mi
4074 Cornwall D Boca Raton, FL	1.0	1.5	738	$1,450	$1.96	25d	1	0.22mi
4030 Rexford A Unit 403 Boca Raton, FL	2.0	2.0	896	$1,700	$1.90	8d	1	0.23mi
4030 Rexford A Unit 403 Boca Raton, FL	2.0	2.0	896	$1,850	$2.06	25d	1	0.23mi
3080 Cornwall D Boca Raton, FL	2.0	1.5	880	$2,300	$2.61	25d	1	0.23mi
3080 Cornwall D Boca Raton, FL	2.0	1.5	880	$2,100	$2.39	16d	1	0.23mi
4008 Cornwall a Boca Raton, FL	1.0	1.5	738	$1,600	$2.17	25d	1	0.23mi
8 Fanshaw Dr Unit 8 Boca Raton, FL	1.0	1.0	585	$1,300	$2.22	8d	1	0.24mi
1025 Newcastle B #1025 Boca Raton, FL	2.0	2.0	896	$1,800	$2.01	17d	1	0.25mi
4014 Newcastle A Unit A Boca Raton, FL	1.0	1.5	738	$1,495	$2.03	25d	1	0.25mi
2017 Newcastle A Unit 2017 Boca Raton, FL	2.0	2.0	896	$1,850	$2.06	25d	1	0.25mi
3085 Cornwall E Boca Raton, FL	2.0	1.5	880	$1,699	$1.93	25d	1	0.26mi
3082 Cornwall E Boca Raton, FL	2.0	1.5	880	$1,550	$1.76	19d	1	0.26mi
531 Fanshaw M Unit 531 Boca Raton, FL	2.0	1.5	819	$1,500	$1.83	2d	1	0.26mi
531 Fanshaw M Unit 531 Boca Raton, FL	2.0	1.5	819	$1,500	$1.83	25d	1	0.26mi
3049 Wolverton C #3049 Boca Raton, FL	2.0	2.0	896	$2,200	$2.46	8d	1	0.26mi
4085 Cornwall E Boca Raton, FL	2.0	1.5	880	$1,650	$1.88	25d	1	0.26mi
536 Fanshaw M Boca Raton, FL	2.0	2.0	819	$1,850	$2.26	25d	1	0.26mi
251 Fanshaw F Boca Raton, FL	2.0	1.5	819	$1,450	$1.77	17d	1	0.26mi
108 Fanshaw C Boca Raton, FL	2.0	1.5	924	$1,700	$1.84	25d	1	0.26mi
449 Fanshaw K #449 Boca Raton, FL	2.0	1.5	819	$1,850	$2.26	20d	1	0.26mi

HOA detail condo

• Monthly dues: $547 · $6,564/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $124,500 Active 462 DOM
2. 2026-06-18
   days on market $124,500 Active 459 DOM
3. 2026-06-17
   days on market $124,500 Active 458 DOM
4. 2026-06-16
   days on market $124,500 Active 457 DOM
5. 2026-06-15
   days on market $124,500 Active 456 DOM
6. 2026-06-13
   days on market $124,500 Active 454 DOM
7. 2026-06-09
   days on market $124,500 Active 450 DOM
8. 2026-06-07
   days on market $124,500 Active 448 DOM
9. 2026-06-04
   days on market $124,500 Active 445 DOM
10. 2026-06-03
    days on market $124,500 Active 444 DOM
11. 2026-06-01
    days on market $124,500 Active 442 DOM
12. 2026-05-31
    days on market $124,500 Active 441 DOM
13. 2026-05-06
    price $124,500
14. 2025-01-12
    listed $135,000 Active
15. 2016-12-22
    soldstatus $75,000
16. 1999-02-04
    soldstatus $55,000
17. 1999-01-28
    soldstatus $55,000 138-char remark

    Show marketing remark (138 chars)

    2ND FLOOR WITH NEW APPLICANCE, CAPET, PAINTED, ENCLOSED PATIO CLOSET ON PATIO - A PERFECT PRICE FOR A PERFECT UNIT - SUPRA NO APPOINTMENT.

18. 1999-01-14
    historical 138-char remark

    Show marketing remark (138 chars)

    2ND FLOOR WITH NEW APPLICANCE, CAPET, PAINTED, ENCLOSED PATIO CLOSET ON PATIO - A PERFECT PRICE FOR A PERFECT UNIT - SUPRA NO APPOINTMENT.

19. 1998-12-07
    listed $59,750 138-char remark

    Show marketing remark (138 chars)

    2ND FLOOR WITH NEW APPLICANCE, CAPET, PAINTED, ENCLOSED PATIO CLOSET ON PATIO - A PERFECT PRICE FOR A PERFECT UNIT - SUPRA NO APPOINTMENT.

ⓘ 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: $1,981 · $165/mo
• Projected year-2 tax: $1,981 · $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 9/10 Extreme 7 d/yr ≥107°F today · 26 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: $23,747
• − Mortgage interest: −$6,974
• − Property taxes: −$1,981
• − Insurance: −$622
• − Repairs & maintenance: −$1,900
• − Management: −$1,900
• − HOA: −$6,564
• − Depreciation: −$3,622
• Taxable income: $185
• Est. tax owed @ 24.0%: −$44
• After-tax cash flow: $1,714/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

+108.4% since first listed

7 events — show timeline

• 2026-05-06 Price Changed $124,500 MARMLS
• 2025-01-12 Listed $135,000 MARMLS
• 2016-12-22 Sold (Public Records) $75,000 Public Records
• 1999-02-04 Sold (Public Records) $55,000 Public Records
• 1999-01-28 Sold (MLS) $55,000 Beaches MLS
• 1999-01-14 Listing Removed — Beaches MLS
• 1998-12-07 Listed $59,750 Beaches MLS

Property tax history

+6.8%/yr

Latest (2025): $1,981 · -3.6% YoY. Source: county tax records.