298 SW 6th St #1030 · Boca Raton, FL 33432

$149,900

1 bd · 1.5 ba · 735 sqft · Condo public records · 3 Days on market

Built 1972 $516/mo HOA · 23% 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 +20.8/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

CASH ONLY! Affordable opportunity in East Boca just minutes from downtown dining, shopping, entertainment, beaches. and Mizner Park. This Ground-floor unit features Impact Hurricane Windows, a New Water Heater (2024), Spacious Primary bedroom with Walk-in closet and Ensuite bath, Guest half bath, Additional storage closet, Dining area, Galley Kitchen, and Vinyl flooring throughout. Ideal for a Primary residence or Investment property. Investor friendly with immediate rental eligibility. Community Pool and Washer & Dryer~Immaculate~Great opportunity to own in a desirable East Boca location at an attractive price point. Nearby Community Center, Skate Park and Children’s Museum~Fas

Key facts

• Vinyl flooring
• Community pool
• Galley kitchen

Tags

• IMPACT HURRICANE WINDOWS
• NEW WATER HEATER
• COMMUNITY POOL
• GALLEY KITCHEN
• VINYL FLOORING
• ADDITIONAL STORAGE CLOSET

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Quarterly association fee; Association fee covers common areas, insurance, parking, pool(s), roof, sewer and trash; Community pool

Exterior

• Parking: Assigned parking; Guest parking
• Security: Smoke detector(s)
• Utilities: Has heating; Has cooling
• Home design: 2-story property; Attached property; Entry on first level
• Construction: Block construction; Resale property
• Exterior features: Courtyard; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: Bedroom located on the main level
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Blinds on windows; Bedroom on main level; First-floor entry

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 7.9% 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: Boca Raton Elementary School (math 47% / reading 52%, grade D, #1,088 of 2,144 statewide, top 53%, 365 students, 62% FRL); Boca Raton Community Middle School (math 59% / reading 61%, grade B, #135 of 571 statewide, top 24%, 1,225 students, 41% FRL); West Boca Raton High School (math 55% / reading 70%, grade B-, #93 of 667 statewide, top 14%, 2,271 students, 28% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 475 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 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 $1k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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 $104k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 23% 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 $149,900

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.52% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.91%
• DSCR: 1.26
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.56% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.83×
• Total profit: $-7,117
• Equity at exit: $22,351

10-year hold

• IRR: 7.8%
• Equity multiple: 1.66×
• Total profit: $27,644
• Equity at exit: $12,961

Cash invested: $41,972 (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 33432

• Rents YoY: 4.6%
• Active inventory: 475
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,274 high
• Mortgage (P&I): −$786
• Tax from tax record: −$225 /mo · $2,703/yr
• Insurance: −$62
• HOA: −$516
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $207

Break-even live

Break-even rent $2,012

Max offer price $149,900

Occupancy floor 86%

Sensitivity live

Price	-10% $292	-5% $249	+0% $207	+5% $164	+10% $122
Rent	-10% $27	-5% $117	+0% $207	+5% $297	+10% $386
Rate	-1.0pp $282	-0.5pp $245	base $207	+0.5pp $168	+1.0pp $128

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
298 SW 6th St #204 Boca Raton, FL	1.0	1.5	735	$1,875	$2.55	1d	1	0.03mi
431 W Camino Real Boca Raton, FL	1.0	1.0	600	$1,925	$3.21	1d	3	0.23mi
33 SE 8th St Boca Raton, FL	2.0	1.0–2.0	816	$2,884	$3.53	1d	19	0.24mi
101 SW 12th St Boca Raton, FL	1.0	1.0	575	$1,848	$3.21	1d	10	0.32mi
101 E Camino Real Boca Raton, FL	3.0	1.0–2.5	1077	$4,312	$4.00	1d	7	0.37mi
50 SE 12th St #1520 Boca Raton, FL	1.0	1.0	675	$1,750	$2.59	21d	1	0.37mi
131 S Federal Hwy Boca Raton, FL	1.0–2.0	1.0–2.0	875	$2,149	$2.45	0d	14	0.38mi
320 W Palmetto Park Rd Boca Raton, FL	3.0	1.0–3.0	1213	$2,697	$2.22	1d	27	0.39mi
550 SW 2nd St #125 Boca Raton, FL	1.0	1.0	374	$2,195	$5.87	1d	1	0.42mi
30 SE 13th St Unit A2 Boca Raton, FL	1.0	1.0	704	$1,600	$2.27	26d	1	0.45mi
100 SW 14th St Boca Raton, FL	1.0–3.0	1.0–2.0	917	$1,713	$1.87	4d	1	0.48mi
1361 S Federal Hwy Boca Raton, FL	1.0	1.0	750	$2,324	$3.10	9d	1	0.50mi
9 Plaza Real S Boca Raton, FL	2.0	1.0–2.0	795	$3,285	$4.13	1d	13	0.51mi
200 E Royal Palm Rd #4080 Boca Raton, FL	1.0	1.5	733	$2,499	$3.41	26d	1	0.62mi
333 E Palmetto Park Rd Boca Raton, FL	1.0–3.0	1.0–2.5	1431	$3,148	$2.20	1d	26	0.83mi
373 NW 4th Diagonal Boca Raton, FL	1.0	1.0	600	$1,793	$2.99	23d	1	0.93mi
1075 Spanish River Rd Unit 7 Boca Raton, FL	1.0	1.0	500	$4,975	$9.95	26d	1	0.96mi
55 NE Spanish Trl #1030 Boca Raton, FL	1.0	1.0	584	$2,400	$4.11	26d	1	1.10mi
642 NW 13th St #35 Boca Raton, FL	1.0	1.0	635	$1,750	$2.76	22d	1	1.15mi
644 NW 13th St #35 Boca Raton, FL	1.0	1.0	700	$1,650	$2.36	12d	1	1.17mi
624 NW 13th St #22 Boca Raton, FL	—	1.0	432	$1,500	$3.47	26d	1	1.19mi
620 NW 13th St #15 Boca Raton, FL	1.0	1.0	700	$1,850	$2.64	9d	1	1.25mi
616 NW 13th St #250 Boca Raton, FL	1.0	1.0	700	$1,700	$2.43	26d	1	1.30mi
616 NW 13th St #24 Boca Raton, FL	1.0	1.0	700	$1,750	$2.50	26d	1	1.30mi
201 S Ocean Blvd Apt 2 Boca Raton, FL	—	1.0	600	$2,000	$3.33	26d	1	1.30mi
201 S Ocean Blvd Unit 7 Boca Raton, FL	—	1.0	600	$2,000	$3.33	15d	1	1.30mi
1721 NW 15th Vis Boca Raton, FL	—	1.0	550	$1,695	$3.08	21d	1	1.48mi

HOA detail condo

• Monthly dues: $516 · $6,192/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-13
   remarks 689-char remark
2. 2026-06-13
   listed $149,900 Active 3 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: $2,703 · $225/mo
• Projected year-2 tax: $2,703 · $225/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 ≥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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,290
• − Mortgage interest: −$8,397
• − Property taxes: −$2,703
• − Insurance: −$750
• − Repairs & maintenance: −$2,183
• − Management: −$2,183
• − HOA: −$6,192
• − Depreciation: −$4,361
• Taxable income: $522
• Est. tax owed @ 24.0%: −$125
• After-tax cash flow: $2,357/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

• Census place: Boca Raton, FL
• County: Palm Beach County · 1,438,312 people
• City population: 250,102
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 21,834
• Household income: $107,045
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1461.0

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% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Cuban 3%
• Common ancestry: Scotch-Irish 4% Subsaharan African 4% Romanian 4%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 77% English-only · Spanish 13% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -565.03%
• Current HPI: 391.7799
• Rent YoY: ▲ 4.56%
• 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

+233.1% since first listed

7 events — show timeline

• 2026-06-09 Listed $149,900 MARMLS
• 2017-12-11 Sold (Public Records) $104,000 Public Records
• 2017-03-13 Listing Removed — Beaches MLS
• 2017-01-12 Price Changed $119,900 Beaches MLS
• 2016-10-25 Listed $129,900 Beaches MLS
• 2002-12-18 Sold (Public Records) $55,000 Public Records
• 2001-11-08 Sold (Public Records) $45,000 Public Records

Property tax history

+21.4%/yr

Latest (2025): $2,703 · +5.3% YoY. Source: county tax records.