2 Eastgate Dr Unit C · Boynton Beach, FL 33436

$95,000

3 bd · 2.0 ba · 1,809 sqft · Condo public records · 15 Days on market

Built 1986 $1843/mo HOA · 51% of rent ↓ 45% since listing

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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 +27.9/30.0
• 1% rule +10.0/10.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful, bright first-floor corner unit with an open floor plan and panoramic lake and golf course views from a huge screened-in lanai. Lovingly maintained by its original owner — Mrs. Clean lived here — this home is in impeccable condition for its age, reflecting pride of ownership throughout. Offered as-is at an exceptional value, this residence also presents a rare opportunity to update and customize finishes to your taste, transforming a true blank canvas into your own personal masterpiece. The layout features 2 bedrooms, 2 baths, plus a den/convertible 3rd bedroom, with sweeping vistas from nearly every room. The screened-in lanai is the perfect setting for morning coffee

Key facts

• Community pool
• Eat in kitchen
• Panoramic lake views

Tags

• FIRST FLOOR CORNER UNIT
• PANORAMIC LAKE VIEWS
• HUGE SCREENED IN LANAI
• LARGE PRIVATE SIDE PATIO
• EAT IN KITCHEN
• COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $95k.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 soft (-0.6%/yr); 445 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $3,585/mo this rent would consume 57% of the median local household income ($76k/yr) (locally 1813% 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 $657 of loan paydown is wiped out by about $3k 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 15 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 51% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,575 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 3.77% ✓
• Cap rate: 10.00%
• Cash-on-cash: 13.25%
• DSCR: 1.59
• GRM: 2.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.7%
• Equity multiple: 0.78×
• Total profit: $-5,979
• Equity at exit: $14,165

10-year hold

• IRR: -38.0%
• Equity multiple: 0.37×
• Total profit: $-16,798
• Equity at exit: $8,214

Cash invested: $26,600 (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 33436

• Home prices YoY: -26.0%
• Rents YoY: -0.6%
• Active inventory: 445
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $3,585 high
• Mortgage (P&I): −$498
• Tax from tax record: −$158 /mo · $1,890/yr
• Insurance: −$40
• HOA: −$1,843
• Vacancy / Maint / Mgmt: −$753
• Net cashflow: $294

Break-even live

Break-even rent $3,213

Max offer price $95,000

Occupancy floor 87%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
61 Eastgate Dr Unit A Boynton Beach, FL	2.0	2.0	1572	$7,000	$4.45	24d	1	0.21mi
1770 NW 22nd Ave Delray Beach, FL	3.0	2.0	1850	$7,000	$3.78	16d	1	0.21mi
1630 NW 22nd Ave Delray Beach, FL	3.0	2.0	1560	$4,200	$2.69	24d	1	0.33mi
1440 NW 20th Ave #104 Delray Beach, FL	2.0	2.0	1335	$2,650	$1.99	13d	1	0.40mi
1860 NW 13th St #201 Delray Beach, FL	2.0	2.0	1335	$2,800	$2.10	24d	1	0.43mi
1520 NW 19th Ter #203 Delray Beach, FL	2.0	2.0	1335	$2,200	$1.65	24d	1	0.43mi
169 Monterey Bay Dr Boynton Beach, FL	3.0	2.5	1389	$2,800	$2.02	14d	1	0.45mi
169 Monterey Bay Dr Boynton Beach, FL	3.0	2.5	1389	$2,800	$2.02	24d	1	0.45mi
138 Monterey Bay Dr Boynton Beach, FL	3.0	2.5	1551	$2,800	$1.81	1d	1	0.47mi
101 Lake Monterey Cir Boynton Beach, FL	3.0	3.0	1584	$2,999	$1.89	20d	1	0.50mi
2583 NW 13th St Delray Beach, FL	2.0	2.0	1466	$2,600	$1.77	17d	1	0.58mi
81 Nottingham Pl Boynton Beach, FL	3.0	2.5	2209	$3,500	$1.58	17d	1	0.60mi
81 Nottingham Pl Boynton Beach, FL	3.0	2.5	2209	$3,500	$1.58	22d	1	0.60mi
183 Lake Monterey Cir Boynton Beach, FL	3.0	3.0	1584	$2,800	$1.77	24d	1	0.60mi
182 Lake Monterey Cir Boynton Beach, FL	2.0	2.5	1423	$2,500	$1.76	22d	1	0.60mi
182 Lake Monterey Cir Boynton Beach, FL	2.0	2.5	1423	$2,500	$1.76	24d	1	0.60mi
2915 NW 12th St Unit D Delray Beach, FL	2.0	2.0	1499	$3,200	$2.13	7d	1	0.72mi
30 Beechdale Ln Boynton Beach, FL	3.0	2.5	2226	$3,300	$1.48	22d	1	0.73mi
2622 NW 7th Ct Delray Beach, FL	2.0	2.5	1384	$2,750	$1.99	24d	1	0.92mi
4020 Sabal Lakes Rd Delray Beach, FL	4.0	2.5	2310	$4,050	$1.75	24d	1	0.96mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	17d	1	0.97mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	24d	1	0.97mi
2712 Lake Ida Rd Delray Beach, FL	3.0	2.0	1604	$4,000	$2.49	7d	1	0.99mi
17 Country Lake Cir Boynton Beach, FL	3.0	2.5	2312	$4,250	$1.84	22d	1	1.02mi
17 Country Lake Cir Boynton Beach, FL	3.0	2.5	2312	$4,250	$1.84	24d	1	1.02mi
2941 Angler Dr Delray Beach, FL	3.0	2.0	1578	$5,000	$3.17	24d	1	1.04mi
945 Sunflower Ave Delray Beach, FL	3.0	2.0	1755	$4,500	$2.56	7d	1	1.09mi
20 Westgate Ln Unit 20G Boynton Beach, FL	2.0	2.0	1712	$7,990	$4.67	10d	1	1.10mi
1105 Anchor Pt Delray Beach, FL	3.0	2.0	1641	$5,700	$3.47	18d	1	1.13mi
494 Enfield Ct Unit Na Delray Beach, FL	3.0	2.0	1641	$6,500	$3.96	24d	1	1.14mi
1590 Verawood Ln Delray Beach, FL	3.0	2.5	2295	$4,400	$1.92	11d	1	1.15mi
1225 E Magnolia Cir Delray Beach, FL	3.0	2.0	1705	$3,700	$2.17	24d	1	1.15mi
514 NW 13th St Delray Beach, FL	4.0	2.5	2563	$25,000	$9.75	24d	1	1.16mi
4311 N Magnolia Cir Delray Beach, FL	3.0	2.0	1705	$3,100	$1.82	24d	1	1.17mi
4110 NW 10th St Delray Beach, FL	3.0	2.5	1839	$4,500	$2.45	24d	1	1.18mi
1502 NW 4th Ave Delray Beach, FL	3.0	2.0	1468	$6,800	$4.63	16d	1	1.19mi
1201 SW 28th Ave Boynton Beach, FL	3.0	2.0	1558	$4,500	$2.89	5d	1	1.21mi
3996 NW 7th Ct Delray Beach, FL	3.0	2.0	1480	$5,000	$3.38	24d	1	1.21mi
302 NW 16th St Delray Beach, FL	4.0	3.0	2304	$15,500	$6.73	24d	1	1.25mi
328 W Coral Trace Cir Delray Beach, FL	3.0	2.5	1632	$3,500	$2.14	22d	1	1.28mi

HOA detail condo

• Monthly dues: $1,843 · $22,116/yr
• Likely covers: cable
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-03-16
   soldstatus $90,000
2. 2026-02-07
   status Pending
3. 2026-01-20
   listed $95,000 Active
4. 2004-12-15
   soldstatus $195,000
5. 1986-11-01
   soldstatus $165,000

ⓘ 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: $1,890 · $158/mo
• Projected year-2 tax: $1,890 · $158/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 9/10 Extreme 5 d/yr ≥105°F today · 18 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: $43,019
• − Mortgage interest: −$5,321
• − Property taxes: −$1,890
• − Insurance: −$475
• − Repairs & maintenance: −$3,442
• − Management: −$3,442
• − HOA: −$22,116
• − Depreciation: −$2,764
• Taxable income: $3,569
• Est. tax owed @ 24.0%: −$857
• After-tax cash flow: $2,669/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
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 48,743
• Household income: $75,789
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 1813.0

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 0.64)
• Race & ethnicity: White 52% Black 24% Hispanic / Latino 19% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 3% Dominican 1%
• Common ancestry: Hispanic 12% Romanian 3% Scotch-Irish 2%
• Foreign-born: 27% · Canada, Jamaica, Vietnam
• Languages at home: 64% English-only · Spanish 14% French/Haitian/Cajun 13% 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: ▼ -109.59%
• Current HPI: 311.7742
• Rent YoY: ▼ -0.57%
• 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

-45.5% since first listed

5 events — show timeline

• 2026-03-16 Sold (Public Records) $90,000 Public Records
• 2026-02-07 Pending — MARMLS
• 2026-01-20 Listed $95,000 MARMLS
• 2004-12-15 Sold (Public Records) $195,000 Public Records
• 1986-11-01 Sold (Public Records) $165,000 Public Records

Property tax history

-1.6%/yr

Latest (2025): $1,890 · +3.4% YoY. Source: county tax records.