7942 La Mirada Dr · Boca Raton, FL 33433

$349,900

2 bd · 2.0 ba · 1,300 sqft · Condo public records · 2 Days on market

Built 1985

---

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 +7.9/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to La Mirada at Boca Pointe, a beautifully updated condo in sunny Boca Raton with new Hurricane Impact Windows and Doors! This spacious 1,300 sq. ft. home offers a modern and comfortable lifestyle with thoughtfully designed rooms. Featuring 2 bedrooms and 2 renovated bathrooms, this property is perfect for those seeking both style and convenience. Step inside to discover a fully renovated kitchen complete with a range, refrigerator, dishwasher, and a generous pantry. The kitchen dining space is ideal for cozy meals, while the formal dining room is perfect for hosting guests. The living area boasts a charming fireplace, adding warmth and ambiance to the space. The outdoor patio provi

Key facts

• Garage
• Pool
• Built 1985

Property features AI

Exterior

• Parking: Garage
• Home design: Condo; Single-story building
• Exterior features: Community swimming pool

Interior

• Kitchen: Dishwasher
• Bedrooms: 2 bedrooms
• Bathrooms: 2 bathrooms
• Heating & cooling: Air conditioning
• Interior features: Fireplace; 7 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $350k.

Deal economics

• At list price, monthly cash flow is $-373 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Cap rate 5.0% 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: Del Prado Elementary School (math 78% / reading 78%, grade A, #149 of 2,144 statewide, top 8%, 712 students, 26% FRL); Omni Middle School (math 66% / reading 66%, grade A-, #93 of 571 statewide, top 16%, 1,128 students, 29% FRL); Spanish River Community High School (math 64% / reading 74%, grade B, #63 of 667 statewide, top 10%, 2,578 students, 25% FRL) — zoned schools average 27% FRL vs 52% district-wide (25 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 71% at this address vs 50% district-wide (+22 pts) — the actual schools serving this property are materially stronger than the Palm Beach average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 436 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $3,601/mo this rent would consume 51% of the median local household income ($84k/yr) (locally 2900% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $349,900

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. 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. 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?
7. 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.
8. 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.
9. 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: 1.03% ✓
• Cap rate: 5.02%
• Cash-on-cash: -4.56%
• DSCR: 0.80
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.33% rent growth · sell at horizon

5-year hold

• IRR: -28.0%
• Equity multiple: 0.09×
• Total profit: $-89,302
• Equity at exit: $52,171

10-year hold

• IRR: -48.9%
• Equity multiple: -0.46×
• Total profit: $-142,749
• Equity at exit: $30,253

Cash invested: $97,972 (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 33433

• Rents YoY: 0.3%
• Active inventory: 436
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $3,601 high
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$437 /mo · $5,248/yr
• Insurance: −$146
• HOA est. from 1 same-building comp: −$799
• Vacancy / Maint / Mgmt: −$756
• Net cashflow: $-373

Break-even live

Break-even rent $4,072

Max offer price $295,995

Occupancy floor —

Sensitivity live

Price	-10% $-131	-5% $-252	+0% $-373	+5% $-493	+10% $-614
Rent	-10% $-657	-5% $-515	+0% $-373	+5% $-230	+10% $-88
Rate	-1.0pp $-196	-0.5pp $-284	base $-373	+0.5pp $-463	+1.0pp $-555

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7741 La Mirada Dr Boca Raton, FL	2.0	2.0	1300	$3,700	$2.85	15d	1	0.01mi
7743 La Mirada Dr Boca Raton, FL	3.0	2.0	1572	$4,888	$3.11	0d	1	0.01mi
7935 La Mirada Dr Boca Raton, FL	3.0	2.0	1572	$3,650	$2.32	14d	1	0.05mi
7546 La Paz Blvd #108 Boca Raton, FL	3.0	2.0	1742	$3,800	$2.18	9d	1	0.13mi
7875 La Mirada Dr Boca Raton, FL	2.0	2.0	1300	$5,700	$4.38	23d	1	0.14mi
7865 La Mirada Dr Boca Raton, FL	3.0	2.5	1823	$5,500	$3.02	26d	1	0.15mi
7773 La Mirada Dr Boca Raton, FL	2.0	2.0	1300	$4,500	$3.46	12d	1	0.17mi
7906 Granada Pl #1201 Boca Raton, FL	2.0	2.0	1309	$3,950	$3.02	12d	1	0.18mi
7644 Elmridge Dr Boca Raton, FL	2.0	2.0	1629	$3,600	$2.21	26d	1	0.20mi
7535 La Paz Blvd #307 Boca Raton, FL	2.0	2.0	1208	$2,200	$1.82	26d	1	0.20mi
7870 Granada Pl #602 Boca Raton, FL	2.0	2.0	1373	$3,500	$2.55	18d	1	0.23mi
7507 La Paz Blvd #407 Boca Raton, FL	2.0	2.0	1382	$2,750	$1.99	26d	1	0.29mi
7582 Regency Lake Dr Boca Raton, FL	3.0	2.5	1595	$4,600	$2.88	16d	1	0.33mi
7484 La Paz Blvd #101 Boca Raton, FL	3.0	3.0	1710	$4,000	$2.34	26d	1	0.33mi
22710 Meridiana Dr Boca Raton, FL	2.0	2.0	1327	$3,200	$2.41	26d	1	0.34mi
7460 La Paz Blvd Boca Raton, FL	1.0–2.0	1.5–2.0	1206	$5,000	$4.15	22d	1	0.35mi
7460 La Paz Blvd Boca Raton, FL	1.0–3.0	1.5–3.0	1206	$3,950	$3.28	26d	2	0.35mi
7460 La Paz Blvd Boca Raton, FL	1.0–2.0	1.5–2.0	1206	$5,000	$4.15	2d	2	0.35mi
8099 Severn Dr Unit D Boca Raton, FL	2.0	2.5	1302	$2,600	$2.00	12d	1	0.41mi
8117 Severn Dr Unit C Boca Raton, FL	2.0	2.5	1302	$2,350	$1.80	26d	1	0.42mi
23106 Oxford Pl Unit D Boca Raton, FL	2.0	2.5	1302	$2,600	$2.00	6d	1	0.42mi
8123 Severn Dr Unit C Boca Raton, FL	2.0	2.5	1302	$2,550	$1.96	20d	1	0.43mi
22667 Meridiana Dr Boca Raton, FL	2.0	2.0	1616	$3,300	$2.04	16d	1	0.45mi
7218 Panache Way Boca Raton, FL	3.0	2.5	1614	$3,900	$2.42	5d	1	0.48mi
7218 Panache Way Boca Raton, FL	3.0	2.5	1614	$3,900	$2.42	18d	1	0.48mi
8206 Severn Dr Unit C Boca Raton, FL	3.0	3.0	1364	$2,950	$2.16	26d	1	0.52mi
8165 Severn Dr Unit D Boca Raton, FL	2.0	2.5	1302	$2,400	$1.84	26d	1	0.53mi
7194 Promenade Dr Boca Raton, FL	3.0	2.5	1870	$5,150	$2.75	6d	1	0.59mi
7129 Promenade Dr #802 Boca Raton, FL	3.0	2.0	1628	$3,800	$2.33	26d	1	0.59mi
7145 Promenade Dr #702 Boca Raton, FL	3.0	2.5	1870	$4,800	$2.57	12d	1	0.59mi
8254 Severn Dr Unit A Boca Raton, FL	3.0	3.0	1364	$2,700	$1.98	9d	1	0.59mi
8285 Severn Dr Unit B Boca Raton, FL	2.0	2.5	1302	$2,500	$1.92	26d	1	0.61mi
8273 Severn Dr Unit D Boca Raton, FL	2.0	2.5	1302	$2,450	$1.88	5d	1	0.62mi
7890 Lago del Mar Dr #142 Boca Raton, FL	3.0	2.5	1420	$3,600	$2.54	26d	1	0.64mi
22365 Dorado Dr Boca Raton, FL	3.0	2.0	1871	$2,200	$1.18	26d	1	0.68mi
8353 Trent Ct Unit C Boca Raton, FL	2.0	2.5	1312	$2,400	$1.83	26d	1	0.69mi
8361 Trent Ct Unit A Boca Raton, FL	2.0	2.5	1302	$2,475	$1.90	6d	1	0.71mi
7690 Lago del Mar Dr #410 Boca Raton, FL	3.0	2.5	1600	$3,750	$2.34	26d	1	0.71mi
4170 NW 6th St Deerfield Beach, FL	3.0	2.0	1655	$3,350	$2.02	15d	1	0.81mi
22182 Bella Lago Dr Boca Raton, FL	2.0–4.0	2.0–3.5	1614	$3,464	$2.15	3d	18	0.86mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-17
   days on market $349,900 Coming Soon 2 DOM
2. 2026-06-15
   remarks 699-char remark
3. 2026-06-15
   listed $349,900 Coming Soon 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $43,208
• − Mortgage interest: −$19,600
• − Property taxes: −$5,248
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,457
• − Management: −$3,457
• − HOA: −$9,588
• − Depreciation: −$10,179
• Taxable loss: −$10,070
• Est. tax savings @ 24.0%: +$2,417
• After-tax cash flow: $-2,054/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): 47,005
• Household income: $84,091
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 2900.0

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% Hispanic / Latino 18% Two or more races 15% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 2% Dominican 1%
• Common ancestry: Romanian 6% Scotch-Irish 5% Russian 3%
• Foreign-born: 27% · Canada, Jamaica, China
• Languages at home: 65% English-only · Spanish 15% Other Indo-European 10% Russian/Polish/Slavic 3%

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: ▼ -227.85%
• Current HPI: 306.738
• Rent YoY: ▲ 0.33%
• 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