9788 Marina Blvd #313 · Hillsboro Pines, FL 33428

$119,900

2 bd · 2.0 ba · 1,028 sqft · Condo public records · 102 Days on market

Built 1972 $548/mo HOA · 23% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

FIRST FLOOR. INCREDIBLE DEAL ON A 2 BEDROOM 2 BATH. BEAUTIFUL FLOORS, FLORIDA ROOM, EAT IN KITCHEN, SPLIT BEDROOM FLOOR PLAN, ENTRY FOYER. SHORT WALK TO CLUBHOUSE AND BEAUTIFUL LARGE POOL, SPA AND COVERED PATIO AREA. BEST DEAL IN TOWN. GAS BBQ GRILL AND PICNIC TABLES OVERLOOKING THE CANAL. Sandalfoot South One Condo Inc IS ONE OF THE VERY FEW COMMUNITIES THAT IS A SHORT WALK TO A COMPLETE SHOPPINGS CENTER. 2 BUS STATIONS UP FRONT Palm Beach County and Broward County on SW 18th Street. Sandalfoot South One Condo Inc is all 2 story buildings and is an independant condominium. There is no master association. ( Landlords . .. No annual rentals at all ever. ) I-95 TO PALMETTO PARK RD. WEST TO L

Key facts

• Large pool
• Eat in kitchen
• Entry foyer

Tags

• FLORIDA ROOM
• EAT IN KITCHEN
• ENTRY FOYER
• LARGE POOL
• COVERED PATIO
• GAS BBQ GRILL

Property features AI

Finance

• Other: Senior community
• Financial info: Not a land-lease property; Community has about 100 units; Pets not allowed
• HOA & community: SANDALFOOT SOUTH ONE association; Monthly HOA fee; Association amenities: Clubhouse, Laundry, Picnic area, Parking, Pool, Storage, Community room, Kitchen facilities, Maintained community, Street lights; HOA fee includes: Insurance, Grounds maintenance, Structure maintenance, Sewer, Trash, Water, Hot water, Legal/accounting, Reserve funds, Roof repairs, Recreation facility, Pool service

Exterior

• Parking: Assigned parking; Guest parking; Asphalt parking; 1 parking space
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Phone available; Underground utilities; Water connected; Sewer connected
• Home design: Condominium; One level (first floor entry, foyer entry); Faces south; Resale property; Near clubhouse and pool (1st floor near clubhouse, pool)
• Construction: Block/Concrete/CBS construction; Concrete, flat roof; Slab foundation; Building has 2 stories
• Exterior features: Covered patio; Screened porch; Patio; Porch; Glass-enclosed porch; Fruit trees on lot; County road frontage; Asphalt road

Interior

• Kitchen: Disposal; Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air; Ceiling fan(s); Paddle fan(s)
• Interior features: Entrance foyer; Walk-in closet(s); Split bedroom layout; Dome kitchen; Furnished
• Laundry & utility: Laundry in common area (lower level)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $334 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 78/100 on livability (#173 in FL, #2,634 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities 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.
• Market conditions: Rents rising (+3.7%/yr); 268 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 32% of the median local income ($89k/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 $829 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.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $75k; list at $120k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo; HOA is 23% of rent.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance); 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 $109,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 2.00% ✓
• Cap rate: 10.86%
• Cash-on-cash: 16.32%
• DSCR: 1.73
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.72% rent growth · sell at horizon

5-year hold

• IRR: 3.1%
• Equity multiple: 1.12×
• Total profit: $4,101
• Equity at exit: $17,877

10-year hold

• IRR: 14.0%
• Equity multiple: 2.20×
• Total profit: $40,236
• Equity at exit: $10,367

Cash invested: $33,572 (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 33428

• Rents YoY: 3.7%
• Active inventory: 268
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $2,394 high
• Mortgage (P&I): −$629
• Tax from tax record: −$208 /mo · $2,496/yr
• Insurance: −$50
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$548
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $334

Break-even live

Break-even rent $1,971

Max offer price $119,900

Occupancy floor 81%

Sensitivity live

Price	-10% $402	-5% $368	+0% $334	+5% $300	+10% $267
Rent	-10% $145	-5% $240	+0% $334	+5% $429	+10% $524
Rate	-1.0pp $395	-0.5pp $365	base $334	+0.5pp $303	+1.0pp $272

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9780 Marina Blvd #415 Boca Raton, FL	2.0	2.0	955	$2,000	$2.09	25d	1	0.05mi
9826 Marina Blvd #1027 Boca Raton, FL	2.0	2.0	955	$2,500	$2.62	25d	1	0.09mi
1620 SW 64th Way Unit H Boca Raton, FL	2.0	2.0	1008	$2,250	$2.23	25d	1	0.24mi
9503 Boca Cove Cir #603 Boca Raton, FL	2.0	2.0	912	$2,200	$2.41	23d	1	0.30mi
10110 Boca Entrada Blvd Boca Raton, FL	2.0	2.0	1155	$2,338	$2.02	4d	2	0.34mi
10110 Boca Entrada Blvd Boca Raton, FL	2.0	2.0	1155	$2,338	$2.02	5d	2	0.34mi
23305 Barwood Ln N #207 Boca Raton, FL	2.0	2.0	1300	$1,875	$1.44	9d	1	0.35mi
23305 Barwood Ln N #207 Boca Raton, FL	2.0	2.0	1300	$1,875	$1.44	25d	1	0.35mi
10110 Boca Entrada Blvd #305 Boca Raton, FL	2.0	2.0	1155	$2,350	$2.03	4d	1	0.35mi
9466 Boca Cove Cir #310 Boca Raton, FL	2.0	2.0	770	$2,000	$2.60	25d	1	0.36mi
9949 Sandalfoot Blvd #531 Boca Raton, FL	2.0	2.0	820	$2,200	$2.68	25d	1	0.47mi
9949 Sandalfoot Blvd Boca Raton, FL	2.0	1.5–2.0	818	$2,000	$2.44	14d	2	0.47mi
9915 Sandalfoot Blvd Boca Raton, FL	2.0	1.0	777	$2,000	$2.57	12d	2	0.48mi
10669 Boca Entrada Blvd Boca Raton, FL	3.0	2.0	1083	$3,450	$3.19	25d	1	0.51mi
5800 NW 74th Pl Coconut Creek, FL	1.0–2.0	1.0–2.0	1115	$2,564	$2.30	0d	17	0.51mi
10166 Marlin Cir Unit 2 Boca Raton, FL	2.0	1.0	789	$1,450	$1.84	17d	1	0.53mi
22765 SW 66th Ave #204 Boca Raton, FL	2.0	2.0	1170	$3,000	$2.56	25d	1	0.54mi
10267 Boca Bnd W Unit G4 Boca Raton, FL	2.0	2.0	1068	$2,850	$2.67	25d	1	0.54mi
22735 SW 66th Ave Boca Raton, FL	2.0	2.0	1170	$2,300	$1.97	6d	1	0.54mi
22745 SW 65th Way Boca Raton, FL	3.0	2.0	1477	$3,500	$2.37	4d	1	0.57mi
10323 Boca Bnd W Unit K4 Boca Raton, FL	2.0	2.0	1068	$2,500	$2.34	0d	1	0.58mi
9993 Three Lakes Cir Boca Raton, FL	3.0	2.0	972	$2,600	$2.67	15d	1	0.60mi
9973 Three Lakes Cir Boca Raton, FL	2.0	2.0	1026	$2,500	$2.44	25d	1	0.62mi
10132 Windtree Ln S Boca Raton, FL	1.0	1.0	1374	$1,450	$1.06	6d	1	0.62mi
9921 Three Lakes Cir Unit 9921 Boca Raton, FL	3.0	2.0	967	$2,700	$2.79	25d	1	0.64mi
22682 Family Cir Unit 22682 Boca Raton, FL	3.0	2.0	1425	$3,400	$2.39	15d	1	0.64mi
9355 SW 8th St Boca Raton, FL	1.0–2.0	1.5–2.0	780	$1,975	$2.53	2d	4	0.69mi
22605 SW 66th Ave #403 Boca Raton, FL	2.0	2.0	1030	$2,100	$2.04	25d	1	0.71mi
22605 SW 66th Ave #206 Boca Raton, FL	1.0	1.5	960	$1,650	$1.72	6d	1	0.71mi
10457 S 228th Ln Boca Raton, FL	2.0	2.0	1104	$1,900	$1.72	9d	1	0.76mi
9273 SW 8th St Boca Raton, FL	1.0–2.0	1.5–2.0	878	$2,200	$2.51	4d	3	0.77mi
9370 SW 8th St #107 Boca Raton, FL	2.0	2.0	900	$2,150	$2.39	16d	1	0.82mi
9370 SW 8th St #107 Boca Raton, FL	2.0	2.0	900	$2,100	$2.33	6d	1	0.82mi
5201 W Hillsboro Blvd Coconut Creek, FL	1.0–3.0	1.0–2.0	1072	$2,835	$2.64	0d	28	0.84mi
9233 SW 8th St #110 Boca Raton, FL	2.0	2.0	979	$1,800	$1.84	9d	1	0.86mi
22974 Seaspray Pl Boca Raton, FL	3.0	2.0	1080	$2,200	$2.04	14d	1	0.86mi
23398 Lyons Rd #309 Boca Raton, FL	2.0	2.0	988	$2,200	$2.23	15d	1	0.86mi
23398 SW 57th Ave Boca Raton, FL	2.0	2.0	988	$2,150	$2.18	6d	2	0.86mi
23442 Lyons Rd #406 Boca Raton, FL	2.0	2.0	1218	$2,300	$1.89	25d	1	0.87mi
23466 Lyons Rd #504 Boca Raton, FL	2.0	2.0	1127	$2,300	$2.04	25d	1	0.88mi

HOA detail condo

• Monthly dues: $548 · $6,576/yr
• Likely covers: gaspool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $119,900 Active 102 DOM
2. 2026-06-18
   days on market $119,900 Active 99 DOM
3. 2026-06-17
   days on market $119,900 Active 98 DOM
4. 2026-06-16
   days on market $119,900 Active 97 DOM
5. 2026-06-15
   remarks 699-char remark
6. 2026-06-15
   days on market $119,900 Active 96 DOM
7. 2026-06-13
   days on market $119,900 Active 94 DOM
8. 2026-06-09
   days on market $119,900 Active 90 DOM
9. 2026-06-08
   days on market $119,900 Active 89 DOM
10. 2026-06-07
    days on market $119,900 Active 88 DOM
11. 2026-06-04
    days on market $119,900 Active 85 DOM
12. 2026-06-03
    days on market $119,900 Active 84 DOM
13. 2026-06-02
    days on market $119,900 Active 83 DOM
14. 2026-06-01
    days on market $119,900 Active 82 DOM
15. 2026-05-31
    days on market $119,900 Active 81 DOM
16. 2026-01-20
    listed $119,900 Active
17. 2018-08-27
    soldstatus $75,000
18. 1989-02-21
    soldstatus $47,000

ⓘ 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: $2,496 · $208/mo
• Projected year-2 tax: $2,496 · $208/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 AO · 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,730
• − Mortgage interest: −$6,716
• − Property taxes: −$2,496
• − Insurance: −$2,067
• − Repairs & maintenance: −$2,298
• − Management: −$2,298
• − HOA: −$6,576
• − Depreciation: −$3,488
• Taxable income: $2,790
• Est. tax owed @ 24.0%: −$670
• After-tax cash flow: $3,343/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 — Hillsboro Pines

• Score: 78/100
• State rank: #173
• US rank: #2634

Category grades

Amenities F Commute A Cost of living F Crime A+ Employment A+ Housing B- Health & safety A+ 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): 47,588
• Household income: $88,543
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 1990.0

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 0.69)
• Race & ethnicity: White 50% Two or more races 23% Hispanic / Latino 22% Black 7% Asian 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Estonian 12% Romanian 3% Scotch-Irish 3%
• Foreign-born: 37% · Canada, Jamaica, Vietnam
• Languages at home: 55% English-only · Spanish 19% Other Indo-European 17% 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: ▼ -299.00%
• Current HPI: 373.2649
• Rent YoY: ▲ 3.72%
• 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

+155.1% since first listed

3 events — show timeline

• 2026-01-20 Listed $119,900 Beaches MLS
• 2018-08-27 Sold (Public Records) $75,000 Public Records
• 1989-02-21 Sold (Public Records) $47,000 Public Records

Property tax history

+16.0%/yr

Latest (2025): $2,496 · +5.2% YoY. Source: county tax records.