5415 Verona Dr Unit I · Boynton Beach, FL 33437

$205,000

3 bd · 2.0 ba · 1,332 sqft · Condo public records · 115 Days on market

Built 1989 $935/mo HOA · 32% 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 +16.2/30.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Appreciation +4.9/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0

Listing remarks

This charming 3-bed / 2-bath condo, offers a relaxing lifestyle in a vibrant, gated, all-ages community! This 2nd floor unit offers plenty of privacy and added space, including luxurious vaulted ceilings, convenient attic access for additional storage, professionally installed closets, shelving, custom recessed lighting, and additional switches and outlets spaced throughout. ALL ROOMS have impact windows and sliding doors, with custom shelving and ample space for use as a guest bedroom or home office. The unit is very close to assigned parking, trash/recycling bins, and mailbox, and a secondary pool location! Community clubhouse features a magnificent swimming facility, fitness center, rest

Key facts

• Fitness center
• Social rooms
• Clubhouse with cafe

Tags

• FIRST CLASS AMENITIES
• CLUBHOUSE WITH CAFE
• POOL AND HOT TUB
• TENNIS AND PICKLEBALL COURTS
• FITNESS CENTER
• SOCIAL ROOMS

Property features AI

Finance

• Other: Association fee paid monthly
• HOA & community: Monthly HOA fee; Community amenities include: billiard room, clubhouse, elevators, fitness center, shuffleboard court, spa/hot tub, tennis courts, cafe/restaurant, community room, library, pickleball courts

Exterior

• Utilities: Public sewer; Sewer available
• Home design: Condominium; 2-story building; Faces south; Resale property
• Construction: CBS construction
• Exterior features: Not waterfront; Community sidewalks and street lights

Interior

• Kitchen: Dishwasher
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Partially furnished; No additional interior features listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $205k.

Deal economics

• At list price, monthly cash flow is $108 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $205k).
• Recommended offer: $187k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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 (+1.3%/yr); 490 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 43% of the median local income ($81k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $922 of equity ($1k loan paydown + $-495 appreciation (-0.2% local appreciation)).
• 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 115 days — a 9% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $70k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; list at $205k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 32% 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 $186,550 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 6.93%
• Cash-on-cash: 2.26%
• DSCR: 1.10
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.24% appreciation · 1.28% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.90×
• Total profit: $-5,850
• Equity at exit: $57,060

10-year hold

• IRR: 1.9%
• Equity multiple: 1.18×
• Total profit: $10,597
• Equity at exit: $66,651

Cash invested: $57,400 (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 33437

• Home prices YoY: -0.1%
• Rents YoY: 1.3%
• Active inventory: 490
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,903 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$90 /mo · $1,079/yr
• Insurance: −$85
• HOA: −$935
• Vacancy / Maint / Mgmt: −$610
• Net cashflow: $108

Break-even live

Break-even rent $2,766

Max offer price $205,000

Occupancy floor 91%

Sensitivity live

Price	-10% $224	-5% $166	+0% $108	+5% $50	+10% $-8
Rent	-10% $-121	-5% $-7	+0% $108	+5% $223	+10% $338
Rate	-1.0pp $211	-0.5pp $160	base $108	+0.5pp $55	+1.0pp $1

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5418 Firenze Dr Unit P Boynton Beach, FL	2.0	2.0	1139	$2,400	$2.11	4d	1	0.07mi
5133 Brisata Cir Unit P Boynton Beach, FL	3.0	2.0	1374	$2,800	$2.04	25d	1	0.13mi
5275 Europa Dr Unit I Boynton Beach, FL	3.0	2.0	1282	$2,500	$1.95	2d	1	0.16mi
5299 Europa Dr Unit P Boynton Beach, FL	3.0	2.0	1606	$3,000	$1.87	15d	1	0.19mi
5157 Floria Way Unit J Boynton Beach, FL	3.0	2.0	1447	$3,300	$2.28	25d	1	0.22mi
5234 Europa Dr Unit A Boynton Beach, FL	3.0	2.0	1578	$2,500	$1.58	20d	1	0.24mi
5155 Europa Dr Unit J Boynton Beach, FL	3.0	2.0	1333	$2,750	$2.06	25d	1	0.27mi
5373 Mirror Lakes Blvd Boynton Beach, FL	3.0	2.0	1310	$2,100	$1.60	25d	1	0.33mi
10492 Boynton Place Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1017	$2,757	$2.71	0d	19	0.38mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$2,950	$2.35	3d	1	0.42mi
10056 Boynton Place Cir Boynton Beach, FL	3.0	2.0	1253	$3,000	$2.39	25d	1	0.42mi
10187 Mangrove Dr #104 Boynton Beach, FL	2.0	2.0	1260	$2,350	$1.87	25d	1	0.46mi
9498 S Military Trl #5 Boynton Beach, FL	3.0	2.5	1317	$2,900	$2.20	25d	1	0.51mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	8d	1	0.53mi
9565 El Clair Ranch Rd Boynton Beach, FL	3.0	2.0	1867	$3,500	$1.87	21d	1	0.53mi
5217 Cedar Lake Rd Boynton Beach, FL	1.0–3.0	1.0–2.0	1030	$2,811	$2.73	2d	51	0.61mi
9935 Pineapple Tree Dr #202 Boynton Beach, FL	2.0	2.0	1008	$2,575	$2.55	16d	1	0.62mi
5895 Autumn Lake Ln Unit A Boynton Beach, FL	3.0	2.0	1469	$2,600	$1.77	25d	1	0.64mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,346	$2.34	15d	1	0.66mi
5020 Ashley Lake Dr Boynton Beach, FL	2.0	2.0	1002	$2,394	$2.39	4d	1	0.66mi
9900 Pineapple Tree Dr #106 Boynton Beach, FL	2.0	2.0	1008	$2,250	$2.23	25d	1	0.68mi
4944 Equestrian Cir Unit A Boynton Beach, FL	2.0	2.0	1400	$2,500	$1.79	8d	1	0.74mi
6165 Country Fair Cir Boynton Beach, FL	3.0	2.5	1656	$3,200	$1.93	25d	1	0.78mi
6037 Rossmoor Lakes Ct Boynton Beach, FL	3.0	2.0	1617	$4,700	$2.91	25d	1	0.81mi
10592 Tropic Palm Ave #202 Boynton Beach, FL	2.0	2.0	1385	$2,450	$1.77	25d	1	0.82mi
10624 Tropic Palm Ave #202 Boynton Beach, FL	3.0	2.0	1385	$2,550	$1.84	25d	1	0.86mi
9926 Watermill Cir Unit F Boynton Beach, FL	3.0	2.0	1471	$2,400	$1.63	25d	1	0.91mi
4525 Nutmeg Tree Ln Unit A Boynton Beach, FL	2.0	2.0	1404	$3,000	$2.14	25d	1	0.91mi
4907 Boxwood Cir Boynton Beach, FL	3.0	2.0	1731	$2,900	$1.68	25d	1	0.93mi
10596 Sunset Isles Ct Boynton Beach, FL	3.0	2.0	1769	$4,500	$2.54	25d	1	0.97mi
4045 White Pine Dr Boynton Beach, FL	3.0	2.0	1566	$1,800	$1.15	2d	1	1.10mi
9336 Water Course Way Boynton Beach, FL	3.0	2.0	1779	$3,600	$2.02	25d	1	1.12mi
9336 Water Course Way Boynton Beach, FL	3.0	2.0	1779	$3,600	$2.02	23d	1	1.12mi
10390 Utopia Cir E Unit 10390 Boynton Beach, FL	3.0	2.0	1845	$4,200	$2.28	25d	1	1.12mi
10390 Utopia Cir E Unit E Boynton Beach, FL	3.0	2.0	1845	$4,200	$2.28	4d	1	1.12mi
10921 Royal Caribbean Cir Boynton Beach, FL	3.0	2.0	1762	$3,800	$2.16	5d	1	1.14mi
10921 Royal Caribbean Cir Boynton Beach, FL	3.0	2.0	1782	$3,800	$2.13	25d	1	1.14mi
5537 Pebble Brook Ln Boynton Beach, FL	3.0	2.0	1166	$2,825	$2.42	16d	1	1.22mi
6365 Lansdowne Cir Boynton Beach, FL	3.0	2.0	1769	$3,200	$1.81	4d	1	1.23mi
6396 Park Lake Cir Boynton Beach, FL	3.0	2.5	1422	$2,950	$2.07	16d	1	1.30mi

HOA detail condo

• Monthly dues: $935 · $11,220/yr
• Likely covers: trashpoolgymsecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-21
   days on market $205,000 Active 115 DOM
2. 2026-06-18
   days on market $205,000 Active 112 DOM
3. 2026-06-17
   days on market $205,000 Active 111 DOM
4. 2026-06-16
   days on market $205,000 Active 110 DOM
5. 2026-06-15
   days on market $205,000 Active 109 DOM
6. 2026-06-13
   pricedays on market $205,000 Active 107 DOM
7. 2026-06-09
   days on market $210,000 Active 103 DOM
8. 2026-06-07
   days on market $210,000 Active 101 DOM
9. 2026-06-04
   days on market $210,000 Active 98 DOM
10. 2026-06-03
    days on market $210,000 Active 97 DOM
11. 2026-06-02
    days on market $210,000 Active 96 DOM
12. 2026-06-01
    days on market $210,000 Active 95 DOM
13. 2026-06-01
    remarks 699-char remark
14. 2026-06-01
    listed $210,000 Active 94 DOM

ⓘ 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: $1,079 · $90/mo
• Projected year-2 tax: $1,702 · $142/mo
• Expected delta: +$623/yr (+$52/mo · 57.7%)

ⓘ 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 9/10 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,838
• − Mortgage interest: −$11,483
• − Property taxes: −$1,079
• − Insurance: −$1,025
• − Repairs & maintenance: −$2,787
• − Management: −$2,787
• − HOA: −$11,220
• − Depreciation: −$5,964
• Taxable loss: −$1,507
• Est. tax savings @ 24.0%: +$362
• After-tax cash flow: $1,659/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

• County: Palm Beach County · 1,438,312 people
• City population: 148,060
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 37,229
• Household income: $80,710
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 902.0

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 (68%)
• Race & ethnicity: White 68% Two or more races 13% Hispanic / Latino 12% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1% Dominican 1%
• Common ancestry: Scotch-Irish 8% Romanian 8% Hispanic 6%
• Foreign-born: 18% · Canada, Jamaica, Vietnam
• Languages at home: 78% English-only · Spanish 10% French/Haitian/Cajun 6% 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: ▼ -0.24%
• Current HPI: 257.5891
• Rent YoY: ▲ 1.28%
• 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

+68.0% since first listed

15 events — show timeline

• 2026-05-31 Relisted — Beaches MLS
• 2026-05-21 Listing Removed — Beaches MLS
• 2026-04-13 Relisted — Beaches MLS
• 2026-04-10 Price Changed $210,000 Beaches MLS
• 2026-01-21 Listing Removed — Beaches MLS
• 2025-12-30 Price Changed $239,999 Beaches MLS
• 2025-12-18 Price Changed $249,999 Beaches MLS
• 2025-12-03 Price Changed $259,999 Beaches MLS
• 2025-11-24 Listed $274,999 Beaches MLS
• 2025-11-08 Listing Removed — Beaches MLS
• 2025-03-18 Price Changed $290,000 Beaches MLS
• 2025-02-14 Price Changed $315,000 Beaches MLS
• 2025-01-04 Price Changed $320,000 Beaches MLS
• 2024-11-08 Listed $325,000 Beaches MLS
• 2009-06-10 Sold (Public Records) $125,000 Public Records

Property tax history

-4.0%/yr

Latest (2025): $1,079 · +4.4% YoY. Source: county tax records.