1401 S Federal Hwy #102 · Boca Raton, FL 33432

$374,900

3 bd · 3.0 ba · 1,860 sqft · Condo public records · 59 Days on market

Built 1975 $753/mo HOA · 14% of rent

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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 +26.1/30.0
• 1% rule +9.2/10.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

East Boca Raton! 3Bd/3Bath. Condo Corner Unit with Two Balconies. All Ages Welcome! Washer/dryer in unit, Central AC and heat, Brand new Luxury Vinyl Flooring, new quartz counter tops throughout the kitchen and bathroom's, Stainless Steel Appliances, Double oven, 2 mater suites, all one one floor with 1860 sq ft, storage. .. .. BUILDING CERTIFICATION IS COMPLETED AND ROOF, PAINT AND PARKING LOT ARE BEING DONE IN 2026.. .. . 5 min drive to the beach, Brightline transportation, University, A+ School Disctrict, marinas, yacht & golf clubs. Two Blocks Away from a brand new Mandarin Oriental, Publix, TJs, Fresh Market, Mizner plaza, Royal Palm Plaza, pharmacies, banks and upcoming develop

Key facts

• Two balconies
• Condo corner unit
• Central ac and heat

Tags

• CONDO CORNER UNIT
• TWO BALCONIES
• WASHER DRYER IN UNIT
• CENTRAL AC AND HEAT
• LUXURY VINYL FLOORING
• QUARTZ COUNTER TOPS

Property features AI

Finance

• Other: Pets allowed (call for details)
• HOA & community: Association managed by Pheonix Management; HOA includes common areas; Monthly HOA fee; Community amenities: Pool, Tennis court(s)

Exterior

• Parking: Assigned parking; Guest parking; 2 parking spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Condominium; Resale; Faces east; 4-story building
• Construction: Block construction; Concrete roof
• Exterior features: Paved road access; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms (all on main level)
• Flooring: Tile; Vinyl
• Bathrooms: 3 full bathrooms (all on main level)
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Walk-in closets; Smoke detector(s)
• Laundry & utility: Laundry inside (in kitchen / laundry room)

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $375k.

Deal economics

• At list price, monthly cash flow is $942 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $375k).
• Recommended offer: $364k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 2.8% 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: Boca Raton Elementary School (math 47% / reading 52%, grade D, #1,088 of 2,144 statewide, top 53%, 365 students, 62% FRL); Boca Raton Community Middle School (math 59% / reading 61%, grade B, #135 of 571 statewide, top 24%, 1,225 students, 41% FRL); West Boca Raton High School (math 55% / reading 70%, grade B-, #93 of 667 statewide, top 14%, 2,271 students, 28% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 472 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $5,342/mo this rent would consume 60% of the median local household income ($107k/yr) (locally 1461% 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 $3k of loan paydown is wiped out by about $11k 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 + 4.6% rent growth), your $105k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 23y ago; this cycle's ask is 14319% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $228k; list at $375k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $363,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.42% ✓
• Cap rate: 9.31%
• Cash-on-cash: 10.77%
• DSCR: 1.48
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.56% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $8,248
• Equity at exit: $55,899

10-year hold

• IRR: 13.4%
• Equity multiple: 2.17×
• Total profit: $122,528
• Equity at exit: $32,415

Cash invested: $104,972 (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 33432

• Rents YoY: 4.6%
• Active inventory: 472
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $5,342 high
• Mortgage (P&I): −$1,966
• Tax from tax record: −$403 /mo · $4,835/yr
• Insurance: −$156
• HOA: −$753
• Vacancy / Maint / Mgmt: −$1,122
• Net cashflow: $942

Break-even live

Break-even rent $4,150

Max offer price $374,900

Occupancy floor 77%

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: $93,725
• Closing costs: $11,247
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1401 S Federal Hwy Boca Raton, FL	2.0	2.5	1248	$2,500	$2.00	15d	2	0.03mi
1401 S Federal Hwy Boca Raton, FL	2.0	2.5	1248	$2,500	$2.00	17d	2	0.03mi
1401 S Federal Hwy Boca Raton, FL	2.0	2.5	1281	$2,350	$1.83	2d	2	0.03mi
100 SW 14th St Boca Raton, FL	3.0	2.0	1250	$3,185	$2.55	10d	1	0.16mi
1851 Thatch Palm Dr Boca Raton, FL	3.0	2.0	2460	$12,500	$5.08	20d	1	0.25mi
103 W Camino Real Boca Raton, FL	2.0	3.0	2008	$4,909	$2.44	14d	1	0.30mi
103 W Camino Real Boca Raton, FL	2.0	3.0	1885	$5,192	$2.75	24d	1	0.30mi
399 SW 15th St Boca Raton, FL	4.0	4.0	2609	$9,750	$3.74	24d	1	0.31mi
101 E Camino Real Boca Raton, FL	3.0	1.0–2.5	1077	$7,430	$6.90	2d	8	0.35mi
33 SE 8th St Boca Raton, FL	3.0	1.0–2.0	915	$3,988	$4.36	1d	20	0.42mi
240 SW 7th St #10 Boca Raton, FL	3.0	2.0	1500	$1,200	$0.80	24d	1	0.46mi
363 W Camino Real #4 Boca Raton, FL	3.0	3.0	1831	$3,650	$1.99	20d	1	0.48mi
1755 SW 4th Ave Boca Raton, FL	3.0	3.0	2407	$18,000	$7.48	11d	1	0.52mi
550 SE Mizner Blvd Unit B501 Boca Raton, FL	2.0	2.5	1986	$8,500	$4.28	24d	1	0.61mi
200 SW 4th St Boca Raton, FL	3.0	2.0	1541	$3,100	$2.01	24d	1	0.62mi
233 S Federal Hwy Boca Raton, FL	2.0–3.0	2.0	1181	$4,000	$3.39	17d	3	0.72mi
233 S Federal Hwy Boca Raton, FL	2.0–3.0	2.0	1222	$4,000	$3.27	22d	2	0.72mi
1000 Spanish River Rd Boca Raton, FL	2.0	2.0	1377	$2,525	$1.83	4d	4	0.74mi
220 SE Mizner Blvd Boca Raton, FL	2.0–3.0	2.5–3.5	2388	$40,000	$16.75	2d	3	0.75mi
220 SE Mizner Blvd Boca Raton, FL	2.0–3.0	2.5–3.5	2526	$40,000	$15.84	24d	2	0.75mi
1350 Spanish River Rd Boca Raton, FL	3.0	3.5	2405	$7,000	$2.91	19d	1	0.76mi
101 Plaza Real S Boca Raton, FL	1.0–3.0	1.0–2.0	1188	$5,500	$4.63	3d	6	0.78mi
200 SE Mizner Blvd Boca Raton, FL	1.0–3.0	2.0–3.0	1563	$19,000	$12.16	22d	2	0.79mi
880 Hickory Ter Boca Raton, FL	2.0	2.0	1813	$7,650	$4.22	18d	1	0.80mi
950 De Soto Rd Unit 2B Boca Raton, FL	3.0	2.0	2307	$8,500	$3.68	11d	1	0.82mi
800 E Camino Real #408 Boca Raton, FL	2.0	2.0	1400	$4,000	$2.86	24d	1	0.83mi
1111 S Ocean Blvd Boca Raton, FL	2.0–3.0	2.0–2.5	1313	$5,000	$3.81	24d	3	0.84mi
1111 S Ocean Blvd Boca Raton, FL	2.0–3.0	2.0–2.5	1352	$5,000	$3.70	15d	2	0.84mi
99 SE Mizner Blvd Boca Raton, FL	1.0–2.0	1.0–2.0	1100	$5,900	$5.36	18d	5	0.88mi
99 SE Mizner Blvd Boca Raton, FL	1.0–2.0	1.0–2.0	1100	$5,900	$5.36	15d	4	0.88mi
99 SE Mizner Blvd Boca Raton, FL	1.0–2.0	1.0–2.0	1100	$5,900	$5.36	14d	5	0.88mi
99 SE Mizner Blvd #16 Boca Raton, FL	2.0	2.5	1816	$6,500	$3.58	22d	1	0.88mi
99 SE Mizner Blvd #40 Boca Raton, FL	2.0	2.5	1816	$7,775	$4.28	5d	1	0.88mi
901 E Camino Real Boca Raton, FL	3.0	3.0	2430	$18,000	$7.41	12d	1	0.89mi
901 E Camino Real Boca Raton, FL	3.0	3.0	2430	$18,000	$7.41	14d	1	0.90mi
320 W Palmetto Park Rd Boca Raton, FL	3.0	1.0–3.0	1213	$4,080	$3.36	1d	27	0.90mi
461 SW 1st St Boca Raton, FL	3.0	2.0	1489	$4,600	$3.09	24d	1	0.93mi
461 SW 1st St Boca Raton, FL	3.0	2.0	1410	$4,600	$3.26	16d	1	0.93mi
300 SE 5th Ave Boca Raton, FL	3.0	4.5	2504	$12,500	$4.99	22d	2	0.93mi
300 SE 5th Ave Boca Raton, FL	2.0–3.0	3.5–4.5	2243	$18,000	$8.02	4d	2	0.93mi

HOA detail condo

• Monthly dues: $753 · $9,036/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-07
   status $374,900 Pending 59 DOM
2. 2026-06-04
   days on market $374,900 Active 59 DOM
3. 2026-06-03
   days on market $374,900 Active 58 DOM
4. 2026-06-02
   days on market $374,900 Active 57 DOM
5. 2026-06-01
   days on market $374,900 Active 56 DOM
6. 2026-05-31
   days on market $374,900 Active 55 DOM
7. 2026-05-20
   price $2,800
8. 2026-05-19
   price $374,900
9. 2026-05-14
   listed $2,600
10. 2026-05-06
    price $379,900
11. 2026-04-06
    listed $389,900 Active
12. 2026-03-26
    historical $2,800
13. 2026-01-11
    listed $2,800
14. 2026-01-01
    historical $2,800
15. 2025-12-30
    listed $2,800
16. 2025-12-29
    historical
17. 2025-12-17
    historical $2,800
18. 2025-10-24
    historical $2,800
19. 2025-10-24
    listed $2,800
20. 2025-10-18
    listed $2,800
21. 2025-10-16
    price $350,000
22. 2025-09-30
    price $374,000
23. 2025-08-18
    price $379,000
24. 2025-07-22
    price $389,000
25. 2025-06-10
    listed $400,000 Active
26. 2013-03-14
    historical
27. 2013-02-06
    listed $215,000
28. 2003-12-08
    soldstatus $227,500
29. 2003-11-26
    soldstatus $227,500
30. 2003-11-01
    historical
31. 2003-06-28
    listed $239,900
32. 1998-02-27
    soldstatus $85,000

ⓘ 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: $4,835 · $403/mo
• Projected year-2 tax: $4,835 · $403/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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $64,100
• − Mortgage interest: −$21,000
• − Property taxes: −$4,835
• − Insurance: −$1,874
• − Repairs & maintenance: −$5,128
• − Management: −$5,128
• − HOA: −$9,036
• − Depreciation: −$10,906
• Taxable income: $6,192
• Est. tax owed @ 24.0%: −$1,486
• After-tax cash flow: $9,815/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

• Census place: Boca Raton, FL
• County: Palm Beach County · 1,438,312 people
• City population: 250,102
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 21,834
• Household income: $107,045
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1461.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 18% Two or more races 13% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Cuban 3%
• Common ancestry: Scotch-Irish 4% Subsaharan African 4% Romanian 4%
• Foreign-born: 20% · Canada, Jamaica, China
• Languages at home: 77% English-only · Spanish 13% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -565.03%
• Current HPI: 391.7799
• Rent YoY: ▲ 4.56%
• 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

-96.7% since first listed

26 events — show timeline

• 2026-05-20 Price Changed $2,800 GFLMLS
• 2026-05-19 Price Changed $374,900 Beaches MLS
• 2026-05-14 Listed for Rent $2,600 GFLMLS
• 2026-05-06 Price Changed $379,900 Beaches MLS
• 2026-04-06 Listed $389,900 Beaches MLS
• 2026-03-26 Rental Removed $2,800 APPFOLIO
• 2026-01-11 Listed for Rent $2,800 APPFOLIO
• 2026-01-01 Rental Removed $2,800 Avail
• 2025-12-30 Listed for Rent $2,800 Avail
• 2025-12-29 Listing Removed — Beaches MLS
• 2025-12-17 Rental Removed $2,800 GFLMLS
• 2025-10-24 Rental Removed $2,800 RMLSFL
• 2025-10-24 Listed for Rent $2,800 RMLSFL
• 2025-10-18 Listed for Rent $2,800 GFLMLS
• 2025-10-16 Price Changed $350,000 Beaches MLS
• 2025-09-30 Price Changed $374,000 Beaches MLS
• 2025-08-18 Price Changed $379,000 Beaches MLS
• 2025-07-22 Price Changed $389,000 Beaches MLS
• 2025-06-10 Listed $400,000 Beaches MLS
• 2013-03-14 Listing Removed — Beaches MLS
• 2013-02-06 Listed $215,000 Beaches MLS
• 2003-12-08 Sold (Public Records) $227,500 Public Records
• 2003-11-26 Sold (MLS) $227,500 Beaches MLS
• 2003-11-01 Listing Removed — Beaches MLS
• 2003-06-28 Listed $239,900 Beaches MLS
• 1998-02-27 Sold (Public Records) $85,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $4,835 · +3.6% YoY. Source: county tax records.