2615 NE 3rd Ct #3140 · Boynton Beach, FL 33435

$79,500

1 bd · 1.5 ba · 874 sqft · Condo public records · 102 Days on market

Built 1974 $478/mo HOA · 25% 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 +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
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this pristine and move-in ready, 1 bedroom 1.5 bathroom condo unit in 55+ Village Royale Greenwood offering resort-style living. Tile flooring throughout, abundant cabinetry, and a bright, airy unit with plentiful natural light. Unit also features a newer AC unit, Enjoy peaceful views and low-maintenance living in a community designed for comfort, connection, and convenience, with two clubhouses, pool, pickleball, shuffleboard, card rooms, library, billiards, computer room, theatre, and more. UNIT 314.

Key facts

• Newer ac unit
• Two clubhouses
• Pickleball

Tags

• TILE FLOORING
• ABUNDANT CABINETRY
• NEWER AC UNIT
• TWO CLUBHOUSES
• POOL
• PICKLEBALL

Property features AI

Finance

• Other: Senior community; Directions: Use GPS
• HOA & community: Has association; Monthly HOA fee of 478; Association amenities include billiard room, fitness center, parking, pool, business center, pickleball courts, maintenance; HOA covers maintenance (grounds and structure), trash, common areas, reserve funds, roof repairs, and recreation facility

Exterior

• Parking: Assigned parking
• Security: Security system
• Utilities: Cable available
• Home design: Condominium; Resale property; 4-story building
• Construction: Block construction
• Exterior features: Not waterfront

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom on main level
• Flooring: Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; Furnished negotiable; Security system
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $80k.

Deal economics

• At list price, monthly cash flow is $417 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $72k (9.0% below list) — sets the bar for market timing.

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: Rolling Green Elementary School (math 21% / reading 26%, grade F, #2,061 of 2,144 statewide, top 96%, 692 students, 88% 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 schools average 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 50% district-wide (-27 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 rising (+3.6%/yr); 538 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $550 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $59k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $72,345 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 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: 2.36% ✓
• Cap rate: 12.59%
• Cash-on-cash: 22.48%
• DSCR: 2.00
• GRM: 3.5

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: 16.7%
• Equity multiple: 1.68×
• Total profit: $15,238
• Equity at exit: $11,854

10-year hold

• IRR: 26.1%
• Equity multiple: 3.42×
• Total profit: $53,934
• Equity at exit: $6,874

Cash invested: $22,260 (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: 538
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,879 high
• Mortgage (P&I): −$417
• Tax from tax record: −$139 /mo · $1,673/yr
• Insurance: −$33
• HOA: −$478
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $417

Break-even live

Break-even rent $1,351

Max offer price $79,500

Occupancy floor 73%

Sensitivity live

Price	-10% $462	-5% $439	+0% $417	+5% $394	+10% $372
Rent	-10% $269	-5% $343	+0% $417	+5% $491	+10% $565
Rate	-1.0pp $457	-0.5pp $437	base $417	+0.5pp $396	+1.0pp $375

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: $19,875
• Closing costs: $2,385
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2615 NE 3rd Ct #4030 Boynton Beach, FL	2.0	2.0	960	$1,699	$1.77	6d	1	0.03mi
330 NE 26th Ave Unit 108 Boynton Beach, FL	1.0	1.5	754	$1,375	$1.82	25d	1	0.07mi
330 NE 26th Ave Unit 108 Boynton Beach, FL	1.0	1.5	754	$1,600	$2.12	3d	1	0.07mi
2601 3rd Ct NE #202 Boynton Beach, FL	2.0	2.0	982	$1,500	$1.53	20d	1	0.07mi
2515 NE 2nd Ct #202 Boynton Beach, FL	2.0	2.0	960	$1,499	$1.56	25d	1	0.11mi
300 NE 26th Ave #1040 Boynton Beach, FL	2.0	2.0	1080	$1,559	$1.44	25d	1	0.14mi
2615 NE 1st Ct #403 Boynton Beach, FL	2.0	2.0	960	$2,100	$2.19	25d	1	0.21mi
2615 NE 1st Ct Boynton Beach, FL	2.0	2.0	960	$1,850	$1.93	20d	2	0.21mi
4 Crossings Cir Unit B Boynton Beach, FL	2.0	1.5	864	$1,950	$2.26	25d	1	0.21mi
7 Crossings Cir Boynton Beach, FL	2.0	1.5	864	$2,500	$2.89	25d	1	0.22mi
230 NE 26th Ave #1070 Boynton Beach, FL	1.0	1.5	754	$1,620	$2.15	12d	1	0.24mi
17 Crossings Cir Unit E Boynton Beach, FL	2.0	2.0	864	$1,900	$2.20	25d	1	0.24mi
230 NE 26th Ave Boynton Beach, FL	1.0–2.0	1.5–2.0	857	$1,600	$1.87	18d	2	0.25mi
14 Crossings Cir Unit E Boynton Beach, FL	2.0	2.0	953	$2,300	$2.41	25d	1	0.25mi
30 Crossings Cir Unit H Boynton Beach, FL	2.0	2.0	864	$2,400	$2.78	20d	1	0.26mi
2213 NE 1st Ct #103 Boynton Beach, FL	1.0	1.5	624	$1,350	$2.16	25d	1	0.31mi
27 Crossings Cir Unit H Boynton Beach, FL	2.0	2.0	864	$1,900	$2.20	16d	1	0.31mi
130 NE 26th Ave #307 Boynton Beach, FL	2.0	2.0	982	$3,500	$3.56	25d	1	0.31mi
117 Waterside Dr #117 Hypoluxo, FL	2.0	2.0	768	$2,000	$2.60	25d	1	0.32mi
2400 NE 1st Ln #206 Boynton Beach, FL	1.0	1.5	754	$1,800	$2.39	16d	1	0.33mi
661 Waterside Dr Hypoluxo, FL	2.0	2.0	768	$2,000	$2.60	25d	1	0.34mi
24 Crossings Cir Unit H Boynton Beach, FL	2.0	2.0	864	$2,050	$2.37	25d	1	0.35mi
2202 NE 4th St #10 Boynton Beach, FL	2.0	1.0	757	$1,900	$2.51	4d	1	0.37mi
108 NE 20th Ave #206 Boynton Beach, FL	2.0	2.0	860	$1,800	$2.09	21d	1	0.46mi
2008 S Federal Hwy Unit C207 Boynton Beach, FL	2.0	2.0	963	$2,000	$2.08	25d	1	0.55mi
311 NE 17th Ave #204 Boynton Beach, FL	2.0	2.0	1100	$1,650	$1.50	25d	1	0.55mi
410 NE 17th Ave #101 Boynton Beach, FL	2.0	1.5	1080	$1,500	$1.39	9d	1	0.57mi
640 Oak St Boynton Beach, FL	2.0	1.0	765	$2,690	$3.52	9d	1	0.64mi
1097 Wilkinson Rd Unit B Lantana, FL	2.0	1.0	855	$2,200	$2.57	3d	1	0.68mi
1097 Wilkinson Rd Unit B Lantana, FL	2.0	1.0	855	$2,200	$2.57	3d	1	0.68mi
25 S Loafing St Unit 25 Hypoluxo, FL	2.0	1.0	552	$1,500	$2.72	25d	1	0.68mi
25 S Loafing St Unit 25 Hypoluxo, FL	2.0	1.0	552	$1,500	$2.72	3d	1	0.68mi
22 S Loafing St Hypoluxo, FL	2.0	1.0	696	$1,300	$1.87	25d	1	0.68mi
1820 New Palm Way #201 Boynton Beach, FL	2.0	2.0	873	$3,500	$4.01	25d	1	0.72mi
65 Relaxed Cir Hypoluxo, FL	2.0	2.0	828	$2,000	$2.42	9d	1	0.73mi
1632 N Federal Hwy Boynton Beach, FL	1.0–3.0	1.0–2.0	1098	$2,098	$1.91	0d	19	0.77mi
1000 Scotia Dr #605 Hypoluxo, FL	2.0	1.0	901	$2,190	$2.43	9d	1	0.78mi
101 Country Ln Boynton Beach, FL	1.0	1.0	1012	$1,500	$1.48	0d	1	0.85mi
111 Yacht Club Way #107 Hypoluxo, FL	2.0	2.0	1036	$2,050	$1.98	0d	1	0.99mi
3601 High Ridge Rd Unit 206 Boynton Beach, FL	1.0	1.0	833	$1,950	$2.34	16d	1	1.01mi

HOA detail condo

• Monthly dues: $478 · $5,736/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   days on market $79,500 Active 102 DOM
2. 2026-06-18
   days on market $79,500 Active 99 DOM
3. 2026-06-17
   days on market $79,500 Active 98 DOM
4. 2026-06-16
   days on market $79,500 Active 97 DOM
5. 2026-06-15
   days on market $79,500 Active 96 DOM
6. 2026-06-13
   days on market $79,500 Active 94 DOM
7. 2026-06-09
   days on market $79,500 Active 90 DOM
8. 2026-06-08
   days on market $79,500 Active 89 DOM
9. 2026-06-07
   days on market $79,500 Active 88 DOM
10. 2026-06-04
    days on market $79,500 Active 85 DOM
11. 2026-06-03
    days on market $79,500 Active 84 DOM
12. 2026-06-02
    days on market $79,500 Active 83 DOM
13. 2026-06-01
    days on market $79,500 Active 82 DOM
14. 2026-05-31
    days on market $79,500 Active 81 DOM
15. 2026-02-24
    listed $79,500 Active
16. 2026-02-15
    historical
17. 2026-01-30
    listed $84,999 Active
18. 2024-11-01
    historical
19. 2024-02-07
    listed $112,000 Active
20. 2020-10-16
    soldstatus $59,000
21. 2009-04-07
    soldstatus $24,000
22. 2001-09-24
    soldstatus $26,800

ⓘ 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: $1,673 · $139/mo
• Projected year-2 tax: $1,673 · $139/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) · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,548
• − Mortgage interest: −$4,453
• − Property taxes: −$1,673
• − Insurance: −$398
• − Repairs & maintenance: −$1,804
• − Management: −$1,804
• − HOA: −$5,736
• − Depreciation: −$2,313
• Taxable income: $4,368
• Est. tax owed @ 24.0%: −$1,048
• After-tax cash flow: $3,955/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

+196.6% since first listed

8 events — show timeline

• 2026-02-24 Listed $79,500 Beaches MLS
• 2026-02-15 Listing Removed — Beaches MLS
• 2026-01-30 Listed $84,999 Beaches MLS
• 2024-11-01 Listing Removed — Beaches MLS
• 2024-02-07 Listed $112,000 Beaches MLS
• 2020-10-16 Sold (Public Records) $59,000 Public Records
• 2009-04-07 Sold (Public Records) $24,000 Public Records
• 2001-09-24 Sold (Public Records) $26,800 Public Records

Property tax history

+7.4%/yr

Latest (2025): $1,673 · +3.2% YoY. Source: county tax records.