5340 NW 2nd Ave #326 · Boca Raton, FL 33487

$240,000

2 bd · 2.0 ba · 1,316 sqft · Condo · 74 Days on market

Built 1985 Good condition $825/mo HOA · 28% 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 +9.2/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0
• DSCR +2.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully upgraded condo featuring an open floor plan with a split-bedroom layout. The updated kitchen includes stainless steel appliances and granite countertop. Interior highlights include a spacious walk-in closet, in-unit laundry room, and ample living space ideal for comfortable living and entertaining. Community amenities include a pool, tennis courts, and clubhouse. Conveniently located near shopping, dining, FAU and major roadways. Can be purchased with only 3% down payment for qualified first time buyers.

Key facts

• Open floor plan
• Split-bedroom layout
• Upgraded condo

Tags

• UPGRADED CONDO
• OPEN FLOOR PLAN
• SPLIT-BEDROOM LAYOUT
• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOP

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Community association managed by Exclusive Property Management; Monthly association fee (paid monthly); Association amenities include elevator(s), parking, pool and tennis courts; Association fee includes cable TV, internet, pest control, sewer, water, common areas and elevator

Exterior

• Parking: Assigned parking; Guest parking; 1 parking space
• Security: Fire sprinkler system; Smoke detectors
• Utilities: Public water; Public sewer; Electricity available
• Home design: Condominium; One level; Faces west; Resale unit; 5-story building
• Construction: Stucco construction
• Exterior features: Not waterfront; Other roof type

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile flooring; Wood flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Walk-in closets; Split bedroom layout
• Laundry & utility: Laundry room with inside laundry hook-up

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $240k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-179 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (10.8% below list).
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $214k (10.8% below list) — sets the bar for cash-flow.
• Cap rate 5.4% 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: Blue Lake Elementary (731 students, 18% 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) — zoned schools average 29% FRL vs 52% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.6%/yr); 338 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).
• This rent runs 36% of the median local income ($96k/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 $2k of loan paydown is wiped out by about $7k 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 74 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: 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 $214,085 (10.8% 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 74 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
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. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.22% ✓
• Cap rate: 5.40%
• Cash-on-cash: -3.20%
• DSCR: 0.86
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.58% rent growth · sell at horizon

5-year hold

• IRR: -20.3%
• Equity multiple: 0.29×
• Total profit: $-48,034
• Equity at exit: $35,785

10-year hold

• IRR: -11.1%
• Equity multiple: 0.30×
• Total profit: $-47,167
• Equity at exit: $20,751

Cash invested: $67,200 (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 33487

• Rents YoY: 3.6%
• Active inventory: 338
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,917 high
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• HOA: −$825
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $-179

Break-even live

Break-even rent $3,144

Max offer price $214,085

Occupancy floor —

Sensitivity live

Price	-10% $-13	-5% $-96	+0% $-179	+5% $-262	+10% $-345
Rent	-10% $-410	-5% $-294	+0% $-179	+5% $-64	+10% $51
Rate	-1.0pp $-58	-0.5pp $-118	base $-179	+0.5pp $-241	+1.0pp $-305

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5340 NW 2nd Ave #226 Boca Raton, FL	2.0	2.0	1316	$3,500	$2.66	26d	1	0.01mi
5301 NW 2nd Ave Boca Raton, FL	2.0	2.0–2.5	1300	$2,698	$2.08	9d	2	0.09mi
5301 NW 2nd Ave Boca Raton, FL	2.0	2.0–2.5	1300	$2,640	$2.03	7d	2	0.09mi
5301 NW 2nd Ave #1010 Boca Raton, FL	2.0	2.0	1300	$2,800	$2.15	26d	1	0.09mi
5301 NW 2nd Ave Apt 307 Boca Raton, FL	2.0	2.0	1300	$2,900	$2.23	26d	1	0.09mi
5500 NW 2nd Ave #514 Boca Raton, FL	3.0	2.0	1200	$2,900	$2.42	16d	1	0.10mi
5200 E Club Cir Boca Raton, FL	2.0	2.0	1200	$2,224	$1.85	26d	2	0.11mi
5121 Sabal Gardens Ln #2 Boca Raton, FL	2.0	2.5	1456	$3,200	$2.20	26d	1	0.13mi
301 Club Cir #208 Boca Raton, FL	2.0	2.0	1200	$2,300	$1.92	1d	1	0.14mi
5700 NW 2nd Ave Boca Raton, FL	2.0	2.0	1125	$2,162	$1.92	22d	4	0.15mi
5700 NW 2nd Ave Boca Raton, FL	2.0–3.0	2.0	1125	$2,200	$1.96	0d	4	0.15mi
299 NW 52nd Ter Unit PHX Boca Raton, FL	2.0	2.0	1300	$3,000	$2.31	9d	1	0.16mi
299 NW 52nd Ter Unit X Boca Raton, FL	2.0	2.0	1300	$3,000	$2.31	26d	1	0.16mi
400 Club Cir Boca Raton, FL	2.0	2.0	1200	$2,900	$2.42	26d	1	0.17mi
5501 NW 2nd Ave Boca Raton, FL	1.0–2.0	1.5–2.0	925	$2,500	$2.70	7d	3	0.17mi
400 Club Cir #101 Boca Raton, FL	2.0	2.0	1200	$2,800	$2.33	3d	1	0.18mi
350 Club Cir #208 Boca Raton, FL	2.0	2.0	1200	$2,450	$2.04	9d	1	0.18mi
351 Club Cir #208 Boca Raton, FL	2.0	2.0	1200	$2,600	$2.17	0d	1	0.19mi
5151 W Club Cir #206 Boca Raton, FL	2.0	2.0	1200	$2,500	$2.08	15d	1	0.23mi
5701 NW 2nd Ave #1140 Boca Raton, FL	2.0	2.0	1000	$2,350	$2.35	0d	1	0.24mi
4601 NW 2nd Ave #805 Boca Raton, FL	2.0	2.5	1536	$3,200	$2.08	7d	1	0.36mi
500 NW 53rd St Boca Raton, FL	2.0	2.0	1320	$3,000	$2.27	26d	1	0.37mi
516 NW 54th St Unit 516 Boca Raton, FL	3.0	2.0	1415	$4,850	$3.43	20d	1	0.38mi
516 NW 54th St Boca Raton, FL	3.0	2.0	1415	$4,650	$3.29	12d	1	0.38mi
516 NW 54th St Boca Raton, FL	3.0	2.0	1415	$4,550	$3.22	22d	1	0.38mi
524 NW 53rd St Boca Raton, FL	3.0	2.0	1758	$5,000	$2.84	14d	1	0.39mi
6000 NW 2nd Ave #437 Boca Raton, FL	2.0	2.0	1300	$2,500	$1.92	16d	1	0.41mi
4850 NE 5th Ave Boca Raton, FL	3.0	1.0–2.0	700	$2,217	$3.17	1d	3	0.41mi
380 Kingsbridge St Boca Raton, FL	3.0	2.0	1800	$2,549	$1.42	26d	1	0.42mi
564 NW 55th St Boca Raton, FL	2.0	2.0	1385	$3,200	$2.31	26d	1	0.43mi
518 NE 48th St Boca Raton, FL	2.0	2.0	1350	$3,250	$2.41	26d	1	0.46mi
518 NE 48th St Unit 518 Boca Raton, FL	2.0	2.0	1350	$3,250	$2.41	16d	1	0.46mi
5961 NW 2nd Ave Apt 108 Boca Raton, FL	2.0	2.0	1050	$2,400	$2.29	9d	1	0.47mi
530 NE 47th St Boca Raton, FL	2.0	1.0–2.0	670	$2,124	$3.17	4d	4	0.51mi
6161 NW 2nd Ave Unit 520 Boca Raton, FL	2.0	2.0	1200	$2,195	$1.83	26d	1	0.53mi
6161 NW 2nd Ave Boca Raton, FL	2.0	2.0	1200	$2,200	$1.83	0d	1	0.53mi
560 NE 46th St Unit 8 Boca Raton, FL	1.0	1.0	900	$1,800	$2.00	26d	1	0.57mi
255 Glouchester St Boca Raton, FL	3.0	2.0	1470	$3,950	$2.69	26d	1	0.62mi
6461 NW 2nd Ave Boca Raton, FL	2.0	2.0	1175	$2,238	$1.90	1d	2	0.64mi
6461 NW 2nd Ave Boca Raton, FL	2.0	2.0	1300	$2,148	$1.65	26d	2	0.64mi

HOA detail condo

• Monthly dues: $825 · $9,900/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-04
   status $240,000 Pending 74 DOM
2. 2026-06-03
   days on market $240,000 Active 74 DOM
3. 2026-06-02
   days on market $240,000 Active 73 DOM
4. 2026-06-01
   days on market $240,000 Active 72 DOM
5. 2026-05-31
   days on market $240,000 Active 71 DOM
6. 2026-03-21
   listed $240,000 Active

ⓘ 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 10/10 Extreme 7 d/yr ≥106°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,005
• − Mortgage interest: −$13,444
• − Property taxes: −$3,600
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,800
• − Management: −$2,800
• − HOA: −$9,900
• − Depreciation: −$6,982
• Taxable loss: −$5,721
• Est. tax savings @ 24.0%: +$1,373
• After-tax cash flow: $-776/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.

Condition & rehab AI · 14 photos

Good 75/100 Cosmetic rehab

This well-maintained and upgraded condo is in good condition with minimal repairs needed. It offers a good return on investment with updates that can significantly increase its value.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value
• Rental Replace worn-out carpet — Improves comfort and reduces maintenance costs

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value ↑
• Rental Replace worn-out carpet — Improves comfort and reduces maintenance costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 20,717
• Household income: $96,066
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 896.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 13% Two or more races 11% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 1%
• Common ancestry: Romanian 7% Scotch-Irish 5% Lithuanian 2%
• Foreign-born: 21% · Canada, Jamaica, China
• Languages at home: 77% English-only · Spanish 10% Other Indo-European 4% 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: ▼ -331.59%
• Current HPI: 352.5852
• Rent YoY: ▲ 3.58%
• 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

1 event — show timeline

• 2026-03-21 Listed $240,000 Beaches MLS