523 SW 1st Ct · Boynton Beach, FL 33435

$160,000

2 bd · 1.5 ba · 1,248 sqft · Condo public records · 109 Days on market

Built 1974 $750/mo HOA · 26% 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 +25.1/30.0
• 1% rule +10.0/10.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

IDEAL INVESTORS. VACANT PROPERTY. READY TO MOVE IN. FAST CLOSING. DEASTICALLY REDUCED. OWNER WILL CNSIDER ANY OFFER.

Key facts

• $750 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets allowed with restrictions or conditional (possible restrictions)
• HOA & community: Monthly association fee of $750; Association covers common areas; Community pool

Exterior

• Parking: One parking space
• Utilities: Public water and sewer; Electric service (central heating/cooling)
• Home design: Attached property; 2 stories; Entry on first floor; Effective year built
• Construction: Block construction
• Exterior features: Fence; Patio; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: Upper-level primary
• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: First floor entry; Kitchen island; Upper-level primary bedroom
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $146k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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 rising (+3.6%/yr); 536 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); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $2,921/mo this rent would consume 52% of the median local household income ($68k/yr) (locally 1623% 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 $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 + 3.6% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 15y ago; this cycle's ask has dropped $35k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 26% 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 $145,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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: 1.83% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.52%
• DSCR: 1.42
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.64% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-828
• Equity at exit: $23,857

10-year hold

• IRR: 10.5%
• Equity multiple: 1.86×
• Total profit: $38,597
• Equity at exit: $13,834

Cash invested: $44,800 (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 33435

• Rents YoY: 3.6%
• Active inventory: 536
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,921 high
• Mortgage (P&I): −$839
• Tax from tax record: −$297 /mo · $3,560/yr
• Insurance: −$67
• HOA: −$750
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $355

Break-even live

Break-even rent $2,471

Max offer price $160,000

Occupancy floor 83%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
605 SW 1st Ct Boynton Beach, FL	2.0	1.5	1248	$2,050	$1.64	24d	1	0.04mi
113 SE 8th Ave Boynton Beach, FL	3.0	2.0	1002	$3,050	$3.04	22d	1	0.21mi
115 SW 1st Ave Boynton Beach, FL	1.0–2.0	1.0–2.0	804	$2,250	$2.80	15d	2	0.24mi
217 SE 2nd Ave Boynton Beach, FL	2.0	2.0	832	$2,900	$3.49	24d	1	0.29mi
127 SW 10th Ave Boynton Beach, FL	2.0	1.5	754	$3,500	$4.64	15d	1	0.29mi
140 SE 9th Ave Boynton Beach, FL	3.0	2.0	1292	$3,250	$2.52	17d	1	0.31mi
140 SE 9th Ave Boynton Beach, FL	3.0	2.0	1292	$3,000	$2.32	8d	1	0.31mi
140 SE 9th Ave Unit 140 Boynton Beach, FL	3.0	2.0	1292	$3,250	$2.52	14d	1	0.31mi
222 SE 3rd St Boynton Beach, FL	3.0	2.0	1466	$3,600	$2.46	24d	1	0.33mi
701 SE 4th St Apt W Boynton Beach, FL	2.0	1.0	924	$2,200	$2.38	24d	1	0.35mi
1006 SE 4th St Boynton Beach, FL	2.0	1.0	900	$2,300	$2.56	24d	1	0.45mi
101 S Federal Hwy Boynton Beach, FL	1.0–2.0	1.0–2.0	969	$2,794	$2.88	2d	17	0.46mi
226 SW 13th Ave Unit 226 Boynton Beach, FL	3.0	2.0	1284	$3,999	$3.11	24d	1	0.50mi
1351 S Federal Hwy Boynton Beach, FL	1.0–3.0	1.0–2.0	1394	$3,046	$2.18	2d	32	0.55mi
100 NE 6th St Boynton Beach, FL	1.0	1.0	745	$2,975	$3.99	20d	3	0.63mi
100 NE 6th St Boynton Beach, FL	1.0	1.0	745	$2,975	$3.99	12d	3	0.63mi
624 Snug Harbor Dr Unit B7 Boynton Beach, FL	2.0	2.0	858	$1,950	$2.27	24d	1	0.64mi
625 Casa Loma Blvd #1504 Boynton Beach, FL	2.0	2.0	1130	$3,500	$3.10	24d	1	0.65mi
625 Casa Loma Blvd #304 Boynton Beach, FL	2.0	2.0	1130	$4,500	$3.98	5d	1	0.65mi
625 Casa Loma Blvd #705 Boynton Beach, FL	2.0	2.0	1206	$2,750	$2.28	22d	1	0.65mi
625 Casa Loma Blvd #207 Boynton Beach, FL	1.0	1.0	782	$2,200	$2.81	2d	1	0.65mi
625 Casa Loma Blvd #304 Boynton Beach, FL	2.0	2.0	1130	$4,500	$3.98	19d	1	0.65mi
625 Casa Loma Blvd #1206 Boynton Beach, FL	2.0	2.0	1206	$3,650	$3.03	24d	1	0.65mi
625 Casa Loma Blvd #1507 Boynton Beach, FL	1.0	1.0	782	$2,400	$3.07	24d	1	0.65mi
350 N Federal Hwy #9 Boynton Beach, FL	2.0	2.0	1350	$4,500	$3.33	24d	1	0.65mi
450 N Federal Hwy Boynton Beach, FL	2.0	2.0–2.5	1439	$3,450	$2.40	17d	2	0.65mi
405 SE 20th Ave Unit 12E Boynton Beach, FL	2.0	1.0	975	$1,889	$1.94	24d	1	0.66mi
350 N Federal Hwy Boynton Beach, FL	2.0	2.0	1289	$3,550	$2.75	11d	3	0.66mi
638 Snug Harbor Dr Boynton Beach, FL	1.0–2.0	1.0–2.0	747	$2,300	$3.08	24d	2	0.67mi
740 E Ocean Ave #407 Boynton Beach, FL	2.0	2.0	908	$2,800	$3.08	24d	1	0.68mi
700 E Boynton Beach Blvd #405 Boynton Beach, FL	2.0	2.0	1200	$3,495	$2.91	19d	1	0.69mi
700 E Boynton Beach Blvd #1509 Boynton Beach, FL	2.0	2.0	1129	$4,200	$3.72	24d	1	0.69mi
700 E Boynton Beach Blvd #203 Boynton Beach, FL	2.0	2.0	1130	$2,650	$2.35	24d	1	0.69mi
700 E Boynton Beach Blvd #1203 Boynton Beach, FL	2.0	2.0	1130	$4,000	$3.54	24d	1	0.69mi
700 E Boynton Beach Blvd #105 Boynton Beach, FL	1.0	1.0	762	$2,100	$2.76	24d	1	0.69mi
700 E Boynton Beach Blvd #510 Boynton Beach, FL	2.0	2.0	1153	$3,000	$2.60	24d	1	0.69mi
700 E Boynton Beach Blvd #1408 Boynton Beach, FL	3.0	2.0	1385	$3,500	$2.53	24d	1	0.69mi
700 E Boynton Beach Blvd #1007 Boynton Beach, FL	1.0	1.0	782	$3,950	$5.05	24d	1	0.69mi
700 E Boynton Beach Blvd #511 Boynton Beach, FL	2.0	2.0	1153	$5,000	$4.34	24d	1	0.69mi
700 E Boynton Beach Blvd #1507 Boynton Beach, FL	1.0	1.0	782	$3,800	$4.86	24d	1	0.69mi

HOA detail condo

• Monthly dues: $750 · $9,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 46 events

1. 2026-05-06
   status Pending
2. 2026-03-30
   price $160,000
3. 2026-03-13
   price $165,000
4. 2026-02-26
   price $168,900
5. 2026-02-13
   price $175,000
6. 2026-01-26
   price $189,900
7. 2026-01-16
   listed $195,000 Active
8. 2025-03-27
   historical $2,100
9. 2025-03-12
   listed $210,000 Active
10. 2025-03-01
    historical
11. 2025-01-30
    price $2,100
12. 2025-01-29
    price $199,000
13. 2024-12-18
    listed $2,200
14. 2024-12-18
    status Active
15. 2024-11-22
    historical $2,200
16. 2024-11-21
    status Pending
17. 2024-11-18
    listed $2,200
18. 2024-11-06
    price $210,000
19. 2024-10-10
    price $205,000
20. 2024-08-06
    status Active
21. 2024-07-26
    historical $2,100
22. 2024-07-19
    status Pending
23. 2024-07-03
    price $2,100
24. 2024-06-19
    status Active
25. 2024-06-19
    price $195,000
26. 2024-05-24
    listed $2,200
27. 2024-04-27
    price $220,000
28. 2024-04-16
    price $224,000
29. 2024-03-29
    price $224,500
30. 2024-02-12
    price $225,000
31. 2024-01-09
    price $232,900
32. 2023-11-30
    status Active
33. 2023-08-12
    status Pending
34. 2023-08-03
    listed $235,000 Active
35. 2022-03-23
    soldstatus $151,000
36. 2022-03-08
    soldstatus $151,000 Closed
37. 2021-12-27
    status Pending
38. 2021-11-23
    status Active
39. 2021-11-10
    historical Active Under Contract
40. 2021-11-02
    status Active
41. 2021-10-29
    historical Active Under Contract
42. 2021-10-26
    listed $149,000 Active
43. 2016-09-23
    soldstatus $78,000
44. 2011-06-09
    soldstatus $28,200
45. 2011-05-11
    historical
46. 2011-05-02
    listed $25,000

ⓘ 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: $3,560 · $297/mo
• Projected year-2 tax: $3,560 · $297/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,057
• − Mortgage interest: −$8,962
• − Property taxes: −$3,560
• − Insurance: −$800
• − Repairs & maintenance: −$2,805
• − Management: −$2,805
• − HOA: −$9,000
• − Depreciation: −$4,655
• Taxable income: $2,470
• Est. tax owed @ 24.0%: −$593
• After-tax cash flow: $3,673/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): 37,833
• Household income: $67,979
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 1623.0

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 0.65)
• Race & ethnicity: White 41% Black 40% Hispanic / Latino 15% Two or more races 10%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Hispanic 23% Romanian 2% Lithuanian 2%
• Foreign-born: 30% · Canada, Jamaica
• Languages at home: 61% English-only · French/Haitian/Cajun 24% Spanish 11% 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: ▼ -345.86%
• Current HPI: 371.0527
• Rent YoY: ▲ 3.64%
• 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

+540.0% since first listed

46 events — show timeline

• 2026-05-06 Pending — MARMLS
• 2026-03-30 Price Changed $160,000 MARMLS
• 2026-03-13 Price Changed $165,000 MARMLS
• 2026-02-26 Price Changed $168,900 MARMLS
• 2026-02-13 Price Changed $175,000 MARMLS
• 2026-01-26 Price Changed $189,900 MARMLS
• 2026-01-16 Listed $195,000 MARMLS
• 2025-03-27 Rental Removed $2,100 MARMLS
• 2025-03-12 Listed $210,000 MARMLS
• 2025-03-01 Listing Removed — MARMLS
• 2025-01-30 Price Changed $2,100 MARMLS
• 2025-01-29 Price Changed $199,000 MARMLS
• 2024-12-18 Listed for Rent $2,200 MARMLS
• 2024-12-18 Relisted — MARMLS
• 2024-11-22 Rental Removed $2,200 MARMLS
• 2024-11-21 Pending — MARMLS
• 2024-11-18 Listed for Rent $2,200 MARMLS
• 2024-11-06 Price Changed $210,000 MARMLS
• 2024-10-10 Price Changed $205,000 MARMLS
• 2024-08-06 Relisted — MARMLS
• 2024-07-26 Rental Removed $2,100 MARMLS
• 2024-07-19 Pending — MARMLS
• 2024-07-03 Price Changed $2,100 MARMLS
• 2024-06-19 Relisted — MARMLS
• 2024-06-19 Price Changed $195,000 MARMLS
• 2024-05-24 Listed for Rent $2,200 MARMLS
• 2024-04-27 Price Changed $220,000 MARMLS
• 2024-04-16 Price Changed $224,000 MARMLS
• 2024-03-29 Price Changed $224,500 MARMLS
• 2024-02-12 Price Changed $225,000 MARMLS
• 2024-01-09 Price Changed $232,900 MARMLS
• 2023-11-30 Relisted — MARMLS
• 2023-08-12 Pending — MARMLS
• 2023-08-03 Listed $235,000 MARMLS
• 2022-03-23 Sold (Public Records) $151,000 Public Records
• 2022-03-08 Sold (MLS) $151,000 MARMLS
• 2021-12-27 Pending — MARMLS
• 2021-11-23 Relisted — MARMLS
• 2021-11-10 Contingent — MARMLS
• 2021-11-02 Relisted — MARMLS
• 2021-10-29 Contingent — MARMLS
• 2021-10-26 Listed $149,000 MARMLS
• 2016-09-23 Sold (Public Records) $78,000 Public Records
• 2011-06-09 Sold (MLS) $28,200 Beaches MLS
• 2011-05-11 Listing Removed — Beaches MLS
• 2011-05-02 Listed $25,000 Beaches MLS

Property tax history

+12.0%/yr

Latest (2025): $3,560 · +4.4% YoY. Source: county tax records.