8866 Royal Manor Cir · Boynton Beach, FL 33436

$179,900

2 bd · 2.0 ba · 1,286 sqft · Manufactured · 373 Days on market

Built 2025

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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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• 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

NEW HOME Welcome to your dream home at the Palm Harbor Buena Vista II model! This charming residence boasts 1286 square feet of comfortable living space, featuring 2 bedrooms and 2 bathrooms. Situated on a desirable corner lot, this home offers both privacy and convenience. The Buena Vista II model is located in a 55+ community in a prime location near the pool, Clubhouse, and all amenities, providing easy access to recreational facilities and community events. Step inside to discover a well-designed layout with an open living area, perfect for entertaining guests or relaxing with family. The spacious master suite includes a private bathroom and ample closet space, while the second bedroom

Key facts

• Ample closet space
• Open living area
• Private bathroom

Tags

• CORNER LOT
• PRIME LOCATION
• NEAR THE POOL
• OPEN LIVING AREA
• PRIVATE BATHROOM
• AMPLE CLOSET SPACE

Property features AI

Finance

• Other: Listing status: Active
• Financial info: List price $179,900

Exterior

• Home design: Single-family residence (spec new construction)
• Construction: Living area about 1,286 square feet
• Exterior features: Property located at 8866 Royal Manor Cir, Boynton Beach, FL 33436

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Open living area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $744 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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.
• Market conditions: Rents soft (-0.6%/yr); 445 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 40% 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 $5k 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 + 0.0% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 373 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 373 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.40% ✓
• Cap rate: 11.26%
• Cash-on-cash: 17.73%
• DSCR: 1.79
• GRM: 6.0

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: 5.8%
• Equity multiple: 1.22×
• Total profit: $10,907
• Equity at exit: $26,824

10-year hold

• IRR: 12.3%
• Equity multiple: 1.84×
• Total profit: $42,186
• Equity at exit: $15,554

Cash invested: $50,372 (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: 6.0×

Monthly cashflow live

• Estimated rent: $2,516 high
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $744

Break-even live

Break-even rent $1,574

Max offer price $179,900

Occupancy floor 65%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8949 Oak St Boynton Beach, FL	2.0	2.0	1040	$1,300	$1.25	24d	1	0.19mi
4045 White Pine Dr Boynton Beach, FL	3.0	2.0	1566	$1,800	$1.15	1d	1	0.37mi
8202 White Rock Cir Boynton Beach, FL	3.0	2.0	1738	$3,300	$1.90	8d	1	0.41mi
3736 Coelebs Ave Boynton Beach, FL	3.0	2.0	1232	$3,000	$2.44	24d	1	0.66mi
3930 Max Pl Boynton Beach, FL	3.0	2.0	1550	$2,825	$1.82	24d	1	0.66mi
3930 Max Pl Boynton Beach, FL	1.0	1.0	925	$2,550	$2.76	22d	1	0.66mi
3500 Sandpiper Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	1147	$2,579	$2.25	22d	22	0.74mi
920 Sun Acres Ln Boynton Beach, FL	2.0	2.0	1352	$2,200	$1.63	24d	1	0.80mi
9498 S Military Trl #5 Boynton Beach, FL	3.0	2.5	1317	$2,900	$2.20	24d	1	0.92mi
190 Temple Ave Boynton Beach, FL	3.0	2.0	1781	$4,200	$2.36	24d	1	0.96mi
9766 Kamena Cir Boynton Beach, FL	3.0	2.5	1596	$3,300	$2.07	5d	1	1.00mi
3561 Oberon Ave Boynton Beach, FL	3.0	2.0	1248	$2,850	$2.28	21d	1	1.04mi
4296 Grove Park Ln Boynton Beach, FL	3.0	2.0	1696	$3,350	$1.98	24d	1	1.08mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,315	$1.93	4d	1	1.09mi
9873 Lawrence Rd Boynton Beach, FL	2.0	2.0	1200	$2,267	$1.89	22d	1	1.09mi
220 Savannah Lakes Dr Boynton Beach, FL	2.0	2.0	1098	$2,365	$2.15	3d	1	1.10mi
4220 Grove Park Ln Unit 1 Boynton Beach, FL	3.0	2.0	1406	$3,400	$2.42	4d	1	1.11mi
4220 Grove Park Ln Unit 1 Boynton Beach, FL	3.0	2.0	1406	$3,600	$2.56	24d	1	1.11mi
9940 Bauhinia Tree Way Unit B Boynton Beach, FL	1.0	1.0	1200	$2,000	$1.67	24d	1	1.12mi
9940 Bauhinia Tree Way Unit B Boynton Beach, FL	1.0	1.0	1200	$1,800	$1.50	8d	1	1.12mi
1515 Arezzo Cir Boynton Beach, FL	2.0	2.5	1286	$2,750	$2.14	24d	1	1.13mi
9900 Pineapple Tree Dr #106 Boynton Beach, FL	2.0	2.0	1008	$2,250	$2.23	24d	1	1.14mi
9842 Kamena Cir Boynton Beach, FL	3.0	2.5	1596	$2,800	$1.75	24d	1	1.14mi
7705 Forest Green Ln Boynton Beach, FL	2.0	2.0	1379	$3,200	$2.32	18d	1	1.15mi
7705 Forest Green Ln Boynton Beach, FL	3.0	2.0	1379	$3,200	$2.32	24d	1	1.15mi
5155 Europa Dr Unit J Boynton Beach, FL	3.0	2.0	1333	$2,750	$2.06	24d	1	1.16mi
4525 Nutmeg Tree Ln Unit A Boynton Beach, FL	2.0	2.0	1404	$3,000	$2.14	24d	1	1.16mi
9746 Nickels Blvd Boynton Beach, FL	2.0	2.0	1215	$2,800	$2.30	24d	1	1.17mi
9935 Pineapple Tree Dr #202 Boynton Beach, FL	2.0	2.0	1008	$2,575	$2.55	15d	1	1.19mi
5072 Arbor Glen Cir Lake Worth, FL	3.0	2.0	1232	$3,300	$2.68	15d	1	1.20mi
7640 Forest Green Ln Boynton Beach, FL	3.0	2.0	1696	$3,500	$2.06	24d	1	1.21mi
7640 Forest Green Ln Unit 7640 Boynton Beach, FL	3.0	2.0	1696	$3,500	$2.06	11d	1	1.21mi
4101 Mahogany Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	950	$2,169	$2.28	3d	11	1.21mi
1239 Sussex St Boynton Beach, FL	3.0	2.0	1436	$3,100	$2.16	24d	1	1.24mi
1239 Sussex St Boynton Beach, FL	3.0	2.0	1436	$3,100	$2.16	20d	1	1.24mi
2303 N Congress Ave #15 Boynton Beach, FL	2.0	1.0	925	$1,950	$2.11	24d	1	1.24mi
5373 Mirror Lakes Blvd Boynton Beach, FL	3.0	2.0	1310	$2,100	$1.60	24d	1	1.24mi
2305 N Congress Ave #18 Boynton Beach, FL	3.0	2.0	1217	$2,600	$2.14	15d	1	1.25mi
4259 Wood Ride Unit E Boynton Beach, FL	2.0	2.0	1240	$2,350	$1.90	8d	1	1.26mi
5157 Floria Way Unit J Boynton Beach, FL	3.0	2.0	1447	$3,300	$2.28	24d	1	1.27mi

Listing history 11 events

1. 2026-06-18
   days on market $179,900 Active 373 DOM
2. 2026-06-17
   days on market $179,900 Active 372 DOM
3. 2026-06-16
   days on market $179,900 Active 371 DOM
4. 2026-06-15
   days on market $179,900 Active 370 DOM
5. 2026-06-13
   days on market $179,900 Active 368 DOM
6. 2026-06-09
   days on market $179,900 Active 364 DOM
7. 2026-06-07
   days on market $179,900 Active 362 DOM
8. 2026-06-04
   days on market $179,900 Active 359 DOM
9. 2026-06-03
   days on market $179,900 Active 358 DOM
10. 2026-06-01
    days on market $179,900 Active 356 DOM
11. 2026-05-31
    days on market $179,900 Active 355 DOM

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

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 5 d/yr ≥106°F today · 18 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: $30,188
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$2,415
• − Management: −$2,415
• − Depreciation: −$5,233
• Taxable income: $6,449
• Est. tax owed @ 24.0%: −$1,548
• After-tax cash flow: $7,382/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): 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