1116 Lake Ter #214 · Boynton Beach, FL 33426

$135,000

2 bd · 1.0 ba · 729 sqft · Condo public records · 17 Days on market

Built 1973 $492/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 +23.2/30.0
• 1% rule +10.0/10.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Embrace a fantastic opportunity to own a beautiful two-bedroom, one-bathroom condo with captivating views overlooking the serene 55+ community of Leisure Lake. This meticulously updated haven boasts an inviting kitchen, thoughtfully designed to inspire your culinary endeavors. The modern bathroom, featuring a step-in shower, is a luxurious retreat in itself. Revel in the elegance of tile floors that not only enhance the aesthetics but also promise easy maintenance. Experience a vibrant community that caters to your lifestyle desires. Stay active and energized with access to a contemporary fitness center, not one, but three inviting pools, and three well-appointed clubhouses. Golf enthusiasts will find their paradise with an 18-hole golf course just waiting to be conquered. But it's not just about the facilities; it's about the life you'll lead here. Engage in a multitude of social activities that enrich your days and create lasting memories. Don't miss out on this unique chance to own a slice of Florida paradise. The combination of modern elegance, a thriving community, and the joy of lakefront living makes this condo a true gem. Seize the moment and arrange a showing today! Your new adventure awaits.

Key facts

• Renovated bathroom
• Fitness center
• Lake views

Tags

• LAKE VIEWS
• UPDATED KITCHEN
• RENOVATED BATHROOM
• WALK-IN SHOWER
• FITNESS CENTER
• SWIMMING POOLS

Property features AI

Finance

• Other: Directions: Boynton Beach Blvd to Congress Ave, go south to Ocean Dr then left; first left to Lake Terrace (or use GPS)
• Financial info: No land lease; Pets not allowed
• HOA & community: Association: Leisureville Lake Condominium Association; Monthly HOA fee of $492; HOA includes cable TV, grounds and structure maintenance, sewer, trash, water, common areas, golf, reserve funds, roof repairs, recreation facility, and pool service; Community amenities: Fitness center, golf course, laundry, management, pool, manager on site, community room, maintained community, sidewalks, street lights, maintenance; Senior community

Exterior

• Parking: Assigned parking and guest parking; 20 open parking spaces (total parking 20)
• Security: Smoke detector(s); Security patrol
• Utilities: Public water; Public sewer; 100 amp electric service; Cable available; Sewer available
• Home design: Condominium; Two-story building; unit entry on the second floor; Facing east; Resale property; Entry level: 2
• Construction: Built with CBS construction materials; Flat and tile roof
• Exterior features: Open porch; Porch; Waterfront: Yes (no specific waterfront features listed)

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Electric cooling; Ceiling fan(s)
• Interior features: Walk-in closet(s); Blinds; Unfurnished
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.3% in Boynton Beach — 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 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: 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 69% FRL vs 52% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 50% district-wide (-28 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 flat; 231 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 35% of the median local income ($74k/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 $933 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 17 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 28y 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.

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 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,975 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — 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. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.62% ✓
• Cap rate: 8.47%
• Cash-on-cash: 7.76%
• DSCR: 1.35
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.93% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.73×
• Total profit: $-10,392
• Equity at exit: $20,129

10-year hold

• IRR: -2.3%
• Equity multiple: 0.87×
• Total profit: $-5,037
• Equity at exit: $11,672

Cash invested: $37,800 (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 33426

• Rents YoY: 0.9%
• Active inventory: 231
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,183 high
• Mortgage (P&I): −$708
• Tax from tax record: −$224 /mo · $2,686/yr
• Insurance: −$56
• HOA: −$492
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $244

Break-even live

Break-even rent $1,873

Max offer price $135,000

Occupancy floor 84%

Sensitivity live

Price	-10% $321	-5% $283	+0% $244	+5% $206	+10% $168
Rent	-10% $72	-5% $158	+0% $244	+5% $331	+10% $417
Rate	-1.0pp $312	-0.5pp $279	base $244	+0.5pp $209	+1.0pp $174

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1100 Audace Ave Boynton Beach, FL	1.0–3.0	1.0–2.0	1021	$2,646	$2.59	0d	22	0.73mi
4 Renaissance Way #302 Boynton Beach, FL	1.0	1.0	747	$1,945	$2.60	12d	1	0.95mi
2407 Renaissance Way Boynton Beach, FL	1.0	1.0	744	$1,950	$2.62	9d	1	1.03mi
1660 Renaissance Commons Blvd Boynton Beach, FL	1.0	1.0	798	$1,962	$2.46	0d	2	1.13mi
1690 Renaissance Commons Blvd Boynton Beach, FL	2.0–3.0	2.0	940	$2,300	$2.45	0d	3	1.13mi
430 NW 12th Ave Unit A Boynton Beach, FL	1.0	1.0	500	$2,195	$4.39	25d	1	1.29mi
408 NW 13th Ave Unit 2 Boynton Beach, FL	1.0	1.0	400	$1,375	$3.44	25d	1	1.36mi
115 SW 1st Ave Boynton Beach, FL	1.0–2.0	1.0–2.0	804	$2,250	$2.80	16d	2	1.38mi

HOA detail condo

• Monthly dues: $492 · $5,904/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-21
   days on market $135,000 Active 17 DOM
2. 2026-06-18
   days on market $135,000 Active 14 DOM
3. 2026-06-17
   days on market $135,000 Active 13 DOM
4. 2026-06-16
   days on market $135,000 Active 12 DOM
5. 2026-06-15
   days on market $135,000 Active 11 DOM
6. 2026-06-13
   days on market $135,000 Active 9 DOM
7. 2026-06-09
   days on market $135,000 Active 5 DOM
8. 2026-06-08
   days on market $135,000 Active 4 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $135,000 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: $2,686 · $224/mo
• Projected year-2 tax: $2,686 · $224/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥105°F today · 22 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: $26,195
• − Mortgage interest: −$7,562
• − Property taxes: −$2,686
• − Insurance: −$675
• − Repairs & maintenance: −$2,096
• − Management: −$2,096
• − HOA: −$5,904
• − Depreciation: −$3,927
• Taxable income: $1,249
• Est. tax owed @ 24.0%: −$300
• After-tax cash flow: $2,634/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

• Census place: Boynton Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 148,060
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 24,255
• Household income: $74,223
• Rent vs Own: 36.7% rent · 63.3% own
• Severe rent burden: 1417.0

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 0.66)
• Race & ethnicity: White 51% Black 23% Hispanic / Latino 17% Two or more races 14% Asian 4%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2%
• Common ancestry: Hispanic 9% Romanian 2% Lithuanian 2%
• Foreign-born: 29% · Canada, Jamaica, Vietnam
• Languages at home: 66% English-only · Spanish 16% French/Haitian/Cajun 11% Other Indo-European 5%

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: ▼ -205.96%
• Current HPI: 335.3805
• Rent YoY: ▲ 0.93%
• 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

+241.8% since first listed

54 events — show timeline

• 2026-06-04 Listed $135,000 Beaches MLS
• 2026-05-30 Listed for Rent $1,700 GFLMLS
• 2025-07-19 Rental Removed $1,400 GFLMLS
• 2025-06-19 Price Changed $1,400 GFLMLS
• 2025-06-07 Price Changed $1,450 GFLMLS
• 2025-05-24 Price Changed $1,500 GFLMLS
• 2025-05-15 Price Changed $1,590 GFLMLS
• 2025-05-01 Listed for Rent $1,650 GFLMLS
• 2025-04-29 Rental Removed $1,650 GFLMLS
• 2025-04-11 Listed for Rent $1,650 GFLMLS
• 2025-04-10 Rental Removed $1,650 GFLMLS
• 2025-03-28 Price Changed $1,650 GFLMLS
• 2025-03-26 Price Changed $1,690 GFLMLS
• 2025-03-19 Listed for Rent $1,700 GFLMLS
• 2025-03-18 Rental Removed $1,700 GFLMLS
• 2025-02-27 Listed for Rent $1,700 GFLMLS
• 2025-02-27 Rental Removed $1,690 GFLMLS
• 2025-02-14 Listed for Rent $1,690 GFLMLS
• 2025-02-14 Rental Removed $1,700 GFLMLS
• 2025-01-28 Price Changed $1,700 GFLMLS
• 2025-01-11 Listed for Rent $1,750 GFLMLS
• 2024-04-02 Rental Removed $1,600 GFLMLS
• 2024-03-27 Listed for Rent $1,600 GFLMLS
• 2024-03-27 Rental Removed $1,600 GFLMLS
• 2024-03-19 Listed for Rent $1,600 GFLMLS
• 2024-01-05 Sold (Public Records) $120,000 Public Records
• 2023-12-26 Sold (MLS) $120,000 Beaches MLS
• 2023-11-28 Contingent — Beaches MLS
• 2023-11-14 Price Changed $120,000 Beaches MLS
• 2023-11-02 Price Changed $130,000 Beaches MLS
• 2023-10-18 Price Changed $134,900 Beaches MLS
• 2023-10-16 Price Changed $139,900 Beaches MLS
• 2023-09-25 Price Changed $144,900 Beaches MLS
• 2023-09-18 Price Changed $149,900 Beaches MLS
• 2023-09-13 Price Changed $154,900 Beaches MLS
• 2023-08-29 Price Changed $160,000 Beaches MLS
• 2023-08-25 Listed $174,900 Beaches MLS
• 2018-03-06 Sold (Public Records) $89,900 Public Records
• 2018-02-28 Sold (MLS) $89,900 Beaches MLS
• 2018-01-15 Contingent — Beaches MLS
• 2017-11-06 Listed $89,900 Beaches MLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2002-05-15 Sold (MLS) $45,000 Beaches MLS
• 2002-05-10 Sold (Public Records) $45,000 Public Records
• 2001-12-26 Listing Removed — Beaches MLS
• 2001-12-18 Listed $52,900 Beaches MLS
• 2001-12-13 Listing Removed — Beaches MLS
• 2001-06-13 Listed $52,900 Beaches MLS
• 2000-04-27 Listed $49,900 Beaches MLS
• 1998-11-30 Sold (Public Records) $35,000 Public Records
• 1998-11-30 Sold (Public Records) $35,000 Public Records
• 1998-11-13 Sold (MLS) $35,000 Beaches MLS
• 1998-10-15 Listing Removed — Beaches MLS
• 1998-09-28 Listed $39,500 Beaches MLS

Property tax history

+7.5%/yr

Latest (2025): $2,686 · -3.5% YoY. Source: county tax records.