3003 Bimini Bay · Boynton Beach, FL 33436

$146,500

2 bd · 1.0 ba · 720 sqft · Condo public records · 191 Days on market

Built 1972 $270/mo HOA · 12% of rent ↓ 14% since listing

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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 +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

This beautifully remodeled home in a desirable gated community comes with NO land lease and has been upgraded from top to bottom. The kitchen showcases white shaker-style cabinets with sleek black handles, new appliances, abundant counter space, a breakfast bar, and a dining area. The open floor plan flows into a spacious living room that connects to a freshly screened patio, perfect for relaxing or entertaining. Inside, you'll find brand new vinyl flooring, updated drywall, ¾-inch plywood subflooring, fresh insulation, new windows, a tankless water heater, and a washer and dryer conveniently located within the home. The interior has been freshly painted and exterior has new vinyl si

Key facts

• Gated community
• Breakfast bar
• 3,920 sq ft lot

Tags

• GATED COMMUNITY
• WHITE SHAKER-STYLE CABINETS
• BREAKFAST BAR
• FRESHLY SCREENED PATIO
• BRAND NEW VINYL FLOORING
• TANKLESS WATER HEATER

Property features AI

Finance

• Other: Property located in a gated, amenity-rich community; directions: SE corner of Military Trail and Gateway Blvd (enter community south of Gateway Blvd off Military Trail)
• Financial info: Pets allowed with number and size limits
• HOA & community: Has association; Monthly HOA fee of 270; HOA covers grounds maintenance, security, sewer, water, and common areas; Community amenities include: clubhouse, pool, picnic area, bocce, shuffleboard, pickleball courts, billiard room, dog park, library, community room, manager on site, internet included, and street lights; Senior community

Exterior

• Parking: Attached carport; Covered carport with 2 spaces (total parking for 2)
• Security: Gated community with guard
• Utilities: Public water; Public sewer; Sewer and water available
• Home design: Manufactured home; Single-story; North-facing; Resale condition
• Construction: Modular construction; Metal roof; Building area reported as 1,390 (public records); Living area reported as 720; Built as a manufactured structure
• Exterior features: Screened patio and screened porch; Patio; Porch; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Vinyl
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central electric heating; Central electric cooling (air conditioning)
• Interior features: Split bedroom layout; Insulated windows
• Laundry & utility: Inside laundry in a laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $146k.

Deal economics

• At list price, monthly cash flow is $562 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $146k).
• Recommended offer: $129k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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: Hidden Oaks K-8 (math 42% / reading 53%, grade D, #1,182 of 2,144 statewide, top 55%, 785 students, 54% FRL); 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-school proficiency averages 30% at this address vs 50% district-wide (-19 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 soft (-0.6%/yr); 445 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 36% of the median local income ($76k/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 $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

• It's been on market 191 days — a 12% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $23k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $128,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 191 days. Have you received any prior offers? Is the seller open to a 12% 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 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.54% ✓
• Cap rate: 10.89%
• Cash-on-cash: 16.43%
• DSCR: 1.73
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.14×
• Total profit: $5,573
• Equity at exit: $21,844

10-year hold

• IRR: 9.7%
• Equity multiple: 1.63×
• Total profit: $25,992
• Equity at exit: $12,667

Cash invested: $41,020 (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 33436

• Home prices YoY: -26.0%
• Rents YoY: -0.6%
• Active inventory: 445
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,259 medium
• Mortgage (P&I): −$768
• Tax from tax record: −$124 /mo · $1,483/yr
• Insurance: −$61
• HOA: −$270
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $562

Break-even live

Break-even rent $1,548

Max offer price $146,500

Occupancy floor 70%

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: $36,625
• Closing costs: $4,395
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,375	$2.33	1d	19	1.28mi
5217 Cedar Lake Rd Boynton Beach, FL	1.0–3.0	1.0–2.0	1030	$2,266	$2.20	1d	51	1.39mi

HOA detail condo

• Monthly dues: $270 · $3,240/yr
• Likely covers: watersecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $146,500 Active 191 DOM
2. 2026-06-17
   days on market $146,500 Active 190 DOM
3. 2026-06-16
   days on market $146,500 Active 189 DOM
4. 2026-06-15
   days on market $146,500 Active 188 DOM
5. 2026-06-13
   days on market $146,500 Active 186 DOM
6. 2026-06-09
   days on market $146,500 Active 182 DOM
7. 2026-06-08
   days on market $146,500 Active 180 DOM
8. 2026-06-01
   days on market $146,500 Active 179 DOM
9. 2026-05-31
   days on market $146,500 Active 178 DOM
10. 2026-04-21
    price $146,500
11. 2026-03-24
    price $154,500
12. 2026-03-12
    price $158,500
13. 2026-03-07
    price $163,000
14. 2026-02-27
    price $163,900
15. 2026-01-21
    price $164,900
16. 2025-12-04
    listed $169,500 Active
17. 2025-10-29
    historical
18. 2025-04-28
    listed $169,900 Active

ⓘ 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: $1,483 · $124/mo
• Projected year-2 tax: $1,483 · $124/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $27,106
• − Mortgage interest: −$8,206
• − Property taxes: −$1,483
• − Insurance: −$732
• − Repairs & maintenance: −$2,169
• − Management: −$2,169
• − HOA: −$3,240
• − Depreciation: −$4,262
• Taxable income: $4,846
• Est. tax owed @ 24.0%: −$1,163
• After-tax cash flow: $5,576/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): 48,743
• Household income: $75,789
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 1813.0

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 0.64)
• Race & ethnicity: White 52% Black 24% Hispanic / Latino 19% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 3% Dominican 1%
• Common ancestry: Hispanic 12% Romanian 3% Scotch-Irish 2%
• Foreign-born: 27% · Canada, Jamaica, Vietnam
• Languages at home: 64% English-only · Spanish 14% French/Haitian/Cajun 13% 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: ▼ -109.59%
• Current HPI: 311.7742
• Rent YoY: ▼ -0.57%
• 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

-13.8% since first listed

9 events — show timeline

• 2026-04-21 Price Changed $146,500 Beaches MLS
• 2026-03-24 Price Changed $154,500 Beaches MLS
• 2026-03-12 Price Changed $158,500 Beaches MLS
• 2026-03-07 Price Changed $163,000 Beaches MLS
• 2026-02-27 Price Changed $163,900 Beaches MLS
• 2026-01-21 Price Changed $164,900 Beaches MLS
• 2025-12-04 Listed $169,500 Beaches MLS
• 2025-10-29 Listing Removed — Beaches MLS
• 2025-04-28 Listed $169,900 Beaches MLS

Property tax history

+11.0%/yr

Latest (2025): $1,483 · +13.2% YoY. Source: county tax records.