5235 Europa Dr Apt L · Boynton Beach, FL 33437

$290,000

3 bd · 2.0 ba · 1,657 sqft · Condo public records · 43 Days on market

Built 1992 $954/mo HOA · 31% 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 +8.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Appreciation +4.9/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0

Listing remarks MLS

Sought after 2nd floor unit with elevator and great canal view from the terrace. 2 bedroom 2 bath with a den in an all age section. Good bones that needs some updating and wall paper removal. Original just about everything but newer water heater and A/C. Priced accordingly. Platina is a fantastic community with a totally remodeled clubhouse with huge Performance Center/Social Hall. Loads of activities, cafe, fitness center with one section overlooking the pool. Tennis and bocce will keep you busy when you're not participating in many of the other club activities. Only one pet, under 20 lbs. Schedule a showing today.

Key facts

• Water views
• Glass-enclosed patio
• Private elevator

Tags

• PRIVATE ELEVATOR
• UPDATED WOOD-LOOK FLOORING
• RENOVATED EAT-IN KITCHEN
• STAINLESS STEEL APPLIANCES
• GLASS-ENCLOSED PATIO
• WATER VIEWS

Property features AI

Finance

• Other: Pets allowed with possible restrictions and limits
• Financial info: Quarterly association fee (HOA) reported
• HOA & community: Carrara Village Condominium Association and Platina Community Master Association; Quarterly HOA payments; HOA covers cable TV, internet, water, sewer, maintenance of grounds, pest control, roof repairs, common areas, recreation facilities; On-site manager

Exterior

• Parking: Assigned parking; Guest parking; 1 open parking space (1 total parking)
• Security: Gated with guard; Security gate
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; Two levels; Resale condition; Faces west; Gated community with guard and security gate
• Construction: Built with CBS construction
• Exterior features: Waterfront property; Other waterfront features; Barrel roof

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Bedrooms located on upper level
• Flooring: Ceramic tile; Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Entrance foyer; Walk-in closet(s); Split bedroom layout; Roman tub
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $290k.

Deal economics

• At list price, monthly cash flow is $-280 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (17.0% below list).
• Meets the 1% rule at list price ($3k rent vs $290k).
• Recommended offer: $241k (17.0% below list) — sets the bar for cash-flow.

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: Crystal Lakes Elementary School (math 55% / reading 64%, grade B-, #690 of 2,144 statewide, top 34%, 788 students, 37% FRL); Boynton Beach Community High (math 13% / reading 25%, grade F, #565 of 667 statewide, top 85%, 1,547 students, 65% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: Rents rising (+1.3%/yr); 489 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• At $3,063/mo this rent would consume 46% of the median local household income ($81k/yr) (locally 902% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $1k of equity ($2k loan paydown + $-701 appreciation (-0.2% local appreciation)).
• 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 43 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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 $154k; list at $290k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% 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 $240,567 (17.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.06% ✓
• Cap rate: 5.14%
• Cash-on-cash: -4.14%
• DSCR: 0.82
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.24% appreciation · 1.28% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.58×
• Total profit: $-34,323
• Equity at exit: $80,719

10-year hold

• IRR: -4.7%
• Equity multiple: 0.54×
• Total profit: $-37,190
• Equity at exit: $94,287

Cash invested: $81,200 (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 33437

• Home prices YoY: -0.1%
• Rents YoY: 1.3%
• Active inventory: 489
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $3,063 high
• Mortgage (P&I): −$1,521
• Tax from tax record: −$104 /mo · $1,250/yr
• Insurance: −$121
• HOA: −$954
• Vacancy / Maint / Mgmt: −$643
• Net cashflow: $-280

Break-even live

Break-even rent $3,417

Max offer price $240,567

Occupancy floor —

Sensitivity live

Price	-10% $-116	-5% $-198	+0% $-280	+5% $-362	+10% $-444
Rent	-10% $-522	-5% $-401	+0% $-280	+5% $-159	+10% $-38
Rate	-1.0pp $-134	-0.5pp $-206	base $-280	+0.5pp $-355	+1.0pp $-431

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5234 Europa Dr Unit A Boynton Beach, FL	3.0	2.0	1578	$2,500	$1.58	21d	1	0.06mi
5373 Mirror Lakes Blvd Boynton Beach, FL	3.0	2.0	1310	$2,100	$1.60	26d	1	0.06mi
5299 Europa Dr Unit P Boynton Beach, FL	3.0	2.0	1606	$3,000	$1.87	16d	1	0.09mi
5275 Europa Dr Unit I Boynton Beach, FL	3.0	2.0	1282	$2,500	$1.95	3d	1	0.18mi
5418 Firenze Dr Unit P Boynton Beach, FL	2.0	2.0	1139	$2,400	$2.11	4d	1	0.26mi
5155 Europa Dr Unit J Boynton Beach, FL	3.0	2.0	1333	$2,750	$2.06	26d	1	0.26mi
5133 Brisata Cir Unit P Boynton Beach, FL	3.0	2.0	1374	$2,800	$2.04	26d	1	0.32mi
5157 Floria Way Unit J Boynton Beach, FL	3.0	2.0	1447	$3,300	$2.28	26d	1	0.35mi
9498 S Military Trl #5 Boynton Beach, FL	3.0	2.5	1317	$2,900	$2.20	26d	1	0.41mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	9d	1	0.42mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	22d	1	0.42mi
9215 Sun Pointe Dr Boynton Beach, FL	4.0	2.0	2142	$4,650	$2.17	12d	1	0.44mi
9215 Sun Pointe Dr Boynton Beach, FL	4.0	2.0	2142	$4,650	$2.17	26d	1	0.44mi
9654 Sun Pointe Dr Boynton Beach, FL	4.0	2.0	2142	$4,400	$2.05	26d	1	0.46mi
9629 El Clair Ranch Rd Boynton Beach, FL	4.0	2.0	2231	$4,800	$2.15	26d	1	0.55mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,757	$2.71	1d	19	0.60mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$3,000	$2.39	26d	1	0.68mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$2,950	$2.35	4d	1	0.68mi
6039 Sunberry Cir Boynton Beach, FL	4.0	2.0	2149	$3,650	$1.70	7d	1	0.70mi
10187 Mangrove Dr #104 Boynton Beach, FL	2.0	2.0	1260	$2,350	$1.87	26d	1	0.73mi
6165 Country Fair Cir Boynton Beach, FL	3.0	2.5	1656	$3,200	$1.93	26d	1	0.77mi
5895 Autumn Lake Ln Unit A Boynton Beach, FL	3.0	2.0	1469	$2,600	$1.77	26d	1	0.81mi
5217 Cedar Lake Rd Boynton Beach, FL	1.0–3.0	1.0–2.0	1030	$2,811	$2.73	3d	51	0.88mi
8657 Rosalie Ct Boynton Beach, FL	4.0	2.0	2021	$3,499	$1.73	20d	1	0.91mi
5537 Pebble Brook Ln Boynton Beach, FL	3.0	2.0	1166	$2,825	$2.42	17d	1	0.95mi
4045 White Pine Dr Boynton Beach, FL	3.0	2.0	1566	$1,800	$1.15	3d	1	0.97mi
4944 Equestrian Cir Unit A Boynton Beach, FL	2.0	2.0	1400	$2,500	$1.79	9d	1	0.98mi
9926 Watermill Cir Unit F Boynton Beach, FL	3.0	2.0	1471	$2,400	$1.63	26d	1	1.00mi
6037 Rossmoor Lakes Ct Boynton Beach, FL	3.0	2.0	1617	$4,700	$2.91	26d	1	1.00mi
4525 Nutmeg Tree Ln Unit A Boynton Beach, FL	2.0	2.0	1404	$3,000	$2.14	26d	1	1.00mi
9121 Paragon Way Boynton Beach, FL	4.0	2.0	2154	$4,950	$2.30	26d	1	1.01mi
8520 Tourmaline Blvd Boynton Beach, FL	4.0	2.0	1699	$4,000	$2.35	20d	1	1.05mi
6365 Lansdowne Cir Boynton Beach, FL	3.0	2.0	1769	$3,200	$1.81	4d	1	1.05mi
9336 Water Course Way Boynton Beach, FL	3.0	2.0	1779	$3,600	$2.02	24d	1	1.06mi
9336 Water Course Way Boynton Beach, FL	3.0	2.0	1779	$3,600	$2.02	26d	1	1.06mi
10592 Tropic Palm Ave #202 Boynton Beach, FL	2.0	2.0	1385	$2,450	$1.77	26d	1	1.10mi
10624 Tropic Palm Ave #202 Boynton Beach, FL	3.0	2.0	1385	$2,550	$1.84	26d	1	1.13mi
4907 Boxwood Cir Boynton Beach, FL	3.0	2.0	1731	$2,900	$1.68	26d	1	1.17mi
10596 Sunset Isles Ct Boynton Beach, FL	3.0	2.0	1769	$4,500	$2.54	26d	1	1.22mi
10390 Utopia Cir E Unit 10390 Boynton Beach, FL	3.0	2.0	1845	$4,200	$2.28	26d	1	1.28mi

HOA detail condo

• Monthly dues: $954 · $11,448/yr
• Likely covers: waterpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $290,000 Active 43 DOM
2. 2026-06-18
   days on market $290,000 Active 40 DOM
3. 2026-06-17
   days on market $290,000 Active 39 DOM
4. 2026-06-16
   days on market $290,000 Active 38 DOM
5. 2026-06-15
   days on market $290,000 Active 37 DOM
6. 2026-06-13
   days on market $290,000 Active 35 DOM
7. 2026-06-09
   days on market $290,000 Active 31 DOM
8. 2026-06-08
   days on market $290,000 Active 30 DOM
9. 2026-06-07
   days on market $290,000 Active 29 DOM
10. 2026-06-04
    days on market $290,000 Active 26 DOM
11. 2026-06-03
    days on market $290,000 Active 25 DOM
12. 2026-06-02
    days on market $290,000 Active 24 DOM
13. 2026-06-01
    days on market $290,000 Active 23 DOM
14. 2026-05-31
    days on market $290,000 Active 22 DOM
15. 2026-05-09
    listed $290,000 Active
16. 2017-07-24
    soldstatus $154,000
17. 2017-07-13
    soldstatus $154,000 Closed 624-char remark

    Show marketing remark (624 chars)

    Sought after 2nd floor unit with elevator and great canal view from the terrace. 2 bedroom 2 bath with a den in an all age section. Good bones that needs some updating and wall paper removal. Original just about everything but newer water heater and A/C. Priced accordingly. Platina is a fantastic community with a totally remodeled clubhouse with huge Performance Center/Social Hall. Loads of activities, cafe, fitness center with one section overlooking the pool. Tennis and bocce will keep you busy when you're not participating in many of the other club activities. Only one pet, under 20 lbs. Schedule a showing today.

18. 2017-06-03
    historical Contingent 624-char remark

    Show marketing remark (624 chars)

    Sought after 2nd floor unit with elevator and great canal view from the terrace. 2 bedroom 2 bath with a den in an all age section. Good bones that needs some updating and wall paper removal. Original just about everything but newer water heater and A/C. Priced accordingly. Platina is a fantastic community with a totally remodeled clubhouse with huge Performance Center/Social Hall. Loads of activities, cafe, fitness center with one section overlooking the pool. Tennis and bocce will keep you busy when you're not participating in many of the other club activities. Only one pet, under 20 lbs. Schedule a showing today.

19. 2017-05-31
    listed $155,000 Active 624-char remark

    Show marketing remark (624 chars)

    Sought after 2nd floor unit with elevator and great canal view from the terrace. 2 bedroom 2 bath with a den in an all age section. Good bones that needs some updating and wall paper removal. Original just about everything but newer water heater and A/C. Priced accordingly. Platina is a fantastic community with a totally remodeled clubhouse with huge Performance Center/Social Hall. Loads of activities, cafe, fitness center with one section overlooking the pool. Tennis and bocce will keep you busy when you're not participating in many of the other club activities. Only one pet, under 20 lbs. Schedule a showing today.

ⓘ 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: $1,250 · $104/mo
• Projected year-2 tax: $2,407 · $201/mo
• Expected delta: +$1,157/yr (+$96/mo · 92.6%)

ⓘ 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 ≥106°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,759
• − Mortgage interest: −$16,245
• − Property taxes: −$1,250
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,941
• − Management: −$2,941
• − HOA: −$11,448
• − Depreciation: −$8,436
• Taxable loss: −$7,951
• Est. tax savings @ 24.0%: +$1,908
• After-tax cash flow: $-1,450/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

• County: Palm Beach County · 1,438,312 people
• City population: 148,060
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 37,229
• Household income: $80,710
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 902.0

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 (68%)
• Race & ethnicity: White 68% Two or more races 13% Hispanic / Latino 12% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1% Dominican 1%
• Common ancestry: Scotch-Irish 8% Romanian 8% Hispanic 6%
• Foreign-born: 18% · Canada, Jamaica, Vietnam
• Languages at home: 78% English-only · Spanish 10% French/Haitian/Cajun 6% 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: ▼ -0.24%
• Current HPI: 257.5891
• Rent YoY: ▲ 1.28%
• 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

+87.1% since first listed

5 events — show timeline

• 2026-05-09 Listed $290,000 Beaches MLS
• 2017-07-24 Sold (Public Records) $154,000 Public Records
• 2017-07-13 Sold (MLS) $154,000 Beaches MLS
• 2017-06-03 Contingent — Beaches MLS
• 2017-05-31 Listed $155,000 Beaches MLS

Property tax history

-0.8%/yr

Latest (2025): $1,250 · +4.5% YoY. Source: county tax records.