8786 Belle Aire Dr · Boca Raton, FL 33433

$279,000

2 bd · 2.0 ba · 1,332 sqft · Condo public records · 135 Days on market

Built 1979 $599/mo HOA · 22% of rent

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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 +11.3/30.0
• ARV discount +7.5/15.0
• 1% rule +4.7/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• DSCR +3.3/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2/2 corner unit, 24hr manned-gated for security. Unit has Washer/Dryer, scr. patio with serene view. 55+ comm. w/ clubhouse, heated pool & tennis

Key facts

• Gated community
• Beautiful kitchen
• Newer appliances

Tags

• GATED COMMUNITY
• UPDATED UNIT
• BEAUTIFUL KITCHEN
• NEWER APPLIANCES
• GRANITE COUNTERTOPS
• CERAMIC TILE

Property features AI

Finance

• Other: Directions: Glades Rd. west of Fla. Tpke., east of Lyons Rd.; south side of Glades Rd.
• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Clubhouse; Pool; Tennis courts; Shuffleboard court; On-site manager; Street lights; Association covers cable TV, insurance, grounds maintenance, pest control, sewer, and common areas; Senior community

Exterior

• Parking: Assigned parking; Guest parking
• Security: Owned security system; Security patrol; Gated (no guard); Window bars; Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium villa; Multi/split levels; Single-story structure; North-facing
• Construction: Built with frame, stucco, and CBS construction; Composition/shingle roof
• Exterior features: Screened patio; Patio; Waterfront property

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Electric water heater
• Bedrooms: One bedroom on the main level
• Flooring: Ceramic tile; Sliding window treatments
• Bathrooms: Two full bathrooms (one on the main level)
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Walk-in closets; Split bedroom layout; Partially furnished; Blinds and sliding windows
• Laundry & utility: Inside laundry with washer and dryer hookups

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $279k.

Deal economics

• At list price, monthly cash flow is $-103 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $261k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $272k (2.6% below list).
• Recommended offer: $246k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.8% 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); Olympic Heights Community High (math 52% / reading 64%, grade C, #120 of 667 statewide, top 18%, 2,602 students, 30% FRL) — zoned schools average 28% FRL vs 52% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 67% at this address vs 50% district-wide (+18 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 26d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 135 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago; this cycle's ask has dropped $21k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $279k implies a 365% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $245,520 (12.0% below list)

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. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
10. 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.
11. 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.
12. 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: 0.97% ✗
• Cap rate: 5.85%
• Cash-on-cash: -1.59%
• DSCR: 0.93
• GRM: 8.6

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: -22.4%
• Equity multiple: 0.25×
• Total profit: $-58,655
• Equity at exit: $41,600

10-year hold

• IRR: -27.1%
• Equity multiple: -0.10×
• Total profit: $-86,226
• Equity at exit: $24,123

Cash invested: $78,120 (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: 8.6×

Monthly cashflow live

• Estimated rent: $2,717 high
• Mortgage (P&I): −$1,463
• Tax from tax record: −$71 /mo · $853/yr
• Insurance: −$116
• HOA: −$599
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $-103

Break-even live

Break-even rent $2,847

Max offer price $260,763

Occupancy floor 99%

Sensitivity live

Price	-10% $55	-5% $-24	+0% $-103	+5% $-182	+10% $-261
Rent	-10% $-318	-5% $-211	+0% $-103	+5% $4	+10% $111
Rate	-1.0pp $37	-0.5pp $-32	base $-103	+0.5pp $-176	+1.0pp $-249

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20886 Vinesta Cir Unit 313 Boca Raton, FL	2.0	2.0	1332	$1,800	$1.35	26d	1	0.09mi
8744 Bella Vista Dr Boca Raton, FL	2.0	2.0	1332	$2,100	$1.58	7d	1	0.09mi
20867 Wendall Ter Boca Raton, FL	2.0	1.5	908	$1,800	$1.98	26d	1	0.09mi
8729 Chevy Chase Dr Boca Raton, FL	2.0	2.0	1332	$2,000	$1.50	26d	1	0.16mi
8732 Bella Vista Dr #42 Boca Raton, FL	2.0	2.0	908	$1,900	$2.09	26d	1	0.17mi
20927 Sedgewick Dr Unit 20927 Boca Raton, FL	2.0	1.0	908	$1,950	$2.15	26d	1	0.20mi
8588 Bella Vista Dr Boca Raton, FL	2.0	2.0	1332	$2,999	$2.25	26d	1	0.21mi
8540 Chevy Chase Dr Unit 8540 Boca Raton, FL	1.0	1.0	908	$2,000	$2.20	26d	1	0.21mi
8833 Bella Vista Dr #8833 Boca Raton, FL	2.0	2.0	908	$3,250	$3.58	26d	1	0.22mi
8534 Via D Oro Boca Raton, FL	3.0	2.0	1866	$5,500	$2.95	5d	1	0.36mi
8534 Via D Oro Boca Raton, FL	3.0	2.0	1866	$5,500	$2.95	20d	1	0.36mi
21362 Juego Cir Unit 33f Boca Raton, FL	2.0	2.0	1216	$3,500	$2.88	26d	1	0.39mi
21411 Juego Cir Unit 32b Boca Raton, FL	2.0	2.0	1216	$1,950	$1.60	26d	1	0.43mi
21542 Juego Cir Unit 27H Boca Raton, FL	2.0	2.0	1216	$2,400	$1.97	1d	1	0.43mi
8320 Via Serena Boca Raton, FL	3.0	2.5	1687	$3,500	$2.07	22d	1	0.45mi
8320 Via Serena Boca Raton, FL	3.0	2.5	1687	$3,400	$2.02	7d	1	0.45mi
8458 Boca Glades Blvd E Boca Raton, FL	2.0	2.0	1307	$3,200	$2.45	7d	1	0.47mi
8289 Via Serena Boca Raton, FL	3.0	2.5	1687	$3,300	$1.96	13d	1	0.48mi
8289 Via Serena Boca Raton, FL	3.0	2.5	1687	$3,300	$1.96	26d	1	0.48mi
9316 Ketay Cir Boca Raton, FL	3.0	2.5	1587	$3,500	$2.21	5d	1	0.49mi
8272 Via Serena Boca Raton, FL	3.0	2.5	1553	$3,300	$2.12	16d	1	0.49mi
21115 Via Eden Boca Raton, FL	3.0	2.5	1553	$3,500	$2.25	26d	1	0.50mi
9180 Pine Springs Dr Boca Raton, FL	3.0	2.0	1797	$4,175	$2.32	1d	1	0.51mi
21018 Via Eden Boca Raton, FL	3.0	2.5	1552	$3,350	$2.16	26d	1	0.52mi
21650 Juego Cir Unit 24b Boca Raton, FL	2.0	2.0	1216	$3,000	$2.47	26d	1	0.53mi
21102 Via Eden Boca Raton, FL	3.0	2.5	1702	$3,250	$1.91	19d	1	0.53mi
21214 Lago Cir Unit 8f Boca Raton, FL	2.0	2.0	1216	$4,200	$3.45	26d	1	0.54mi
21270 Via Eden Boca Raton, FL	3.0	2.5	1812	$3,400	$1.88	9d	1	0.55mi
9280 Sable Ridge Cir Apt B Boca Raton, FL	2.0	2.0	1475	$2,700	$1.83	4d	1	0.56mi
8425 Casa del Lago Unit C Boca Raton, FL	2.0	2.0	1216	$2,100	$1.73	23d	1	0.57mi
20525 S Charlston St Boca Raton, FL	2.0	2.0	1334	$4,214	$3.16	0d	2	0.58mi
9292 Sabal Ridge Cir Unit D Boca Raton, FL	2.0	2.0	1475	$2,650	$1.80	12d	1	0.58mi
9292 Sabal Ridge Cir Unit D Boca Raton, FL	2.0	2.0	1475	$2,650	$1.80	26d	1	0.58mi
9256 Sabal Ridge Cir Unit D Boca Raton, FL	2.0	2.0	1475	$2,695	$1.83	26d	1	0.58mi
9260 Ketay Cir #2 Boca Raton, FL	2.0	2.0	1279	$2,200	$1.72	26d	1	0.59mi
9364 Ketay Cir Unit 5 Boca Raton, FL	3.0	2.5	1587	$3,200	$2.02	16d	1	0.60mi
9364 Ketay Cir Unit 5 Boca Raton, FL	3.0	2.5	1587	$3,300	$2.08	23d	1	0.60mi
21535 Cypress Hammock Dr Unit 36J Boca Raton, FL	2.0	2.0	1266	$2,200	$1.74	26d	1	0.62mi
9319 Pecky Cypress Ln Unit 19D Boca Raton, FL	2.0	2.0	1266	$3,500	$2.76	26d	1	0.63mi
21529 Cypress Hammock Dr Unit 35J Boca Raton, FL	2.0	2.0	1266	$2,395	$1.89	14d	1	0.63mi

HOA detail condo

• Monthly dues: $599 · $7,188/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $279,000 Active 135 DOM
2. 2026-06-18
   days on market $279,000 Active 132 DOM
3. 2026-06-17
   days on market $279,000 Active 131 DOM
4. 2026-06-16
   days on market $279,000 Active 130 DOM
5. 2026-06-15
   days on market $279,000 Active 129 DOM
6. 2026-06-13
   days on market $279,000 Active 127 DOM
7. 2026-06-09
   days on market $279,000 Active 123 DOM
8. 2026-06-07
   days on market $279,000 Active 121 DOM
9. 2026-06-04
   days on market $279,000 Active 118 DOM
10. 2026-06-03
    days on market $279,000 Active 117 DOM
11. 2026-06-01
    days on market $279,000 Active 115 DOM
12. 2026-05-31
    days on market $279,000 Active 114 DOM
13. 2026-03-04
    price $279,000
14. 2026-02-06
    listed $299,900 Active
15. 2010-11-18
    soldstatus $60,000 151-char remark

    Show marketing remark (151 chars)

    2/2 corner unit, 24hr manned-gated for security. Unit has Washer/Dryer, scr. patio with serene view. 55+ comm. w/ clubhouse, heated pool & tennis

16. 2010-10-20
    historical 151-char remark

    Show marketing remark (151 chars)

    2/2 corner unit, 24hr manned-gated for security. Unit has Washer/Dryer, scr. patio with serene view. 55+ comm. w/ clubhouse, heated pool & tennis

17. 2010-09-13
    listed $74,900 151-char remark

    Show marketing remark (151 chars)

    2/2 corner unit, 24hr manned-gated for security. Unit has Washer/Dryer, scr. patio with serene view. 55+ comm. w/ clubhouse, heated pool & tennis

18. 1990-10-03
    soldstatus $65,000

ⓘ 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: $853 · $71/mo
• Projected year-2 tax: $2,316 · $193/mo
• Expected delta: +$1,463/yr (+$122/mo · 171.6%)

ⓘ 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 ≥107°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,600
• − Mortgage interest: −$15,628
• − Property taxes: −$853
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,608
• − Management: −$2,608
• − HOA: −$7,188
• − Depreciation: −$8,116
• Taxable loss: −$5,796
• Est. tax savings @ 24.0%: +$1,391
• After-tax cash flow: $152/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

Price history

+329.2% since first listed

6 events — show timeline

• 2026-03-04 Price Changed $279,000 Beaches MLS
• 2026-02-06 Listed $299,900 Beaches MLS
• 2010-11-18 Sold (MLS) $60,000 Beaches MLS
• 2010-10-20 Listing Removed — Beaches MLS
• 2010-09-13 Listed $74,900 Beaches MLS
• 1990-10-03 Sold (Public Records) $65,000 Public Records

Property tax history

-3.8%/yr

Latest (2025): $853 · +2.9% YoY. Source: county tax records.