20911 Sunrise Dr · Boca Raton, FL 33433

$119,900

2 bd · 2.0 ba · 1,152 sqft · Condo public records · 124 Days on market

Built 1972 $250/mo HOA · 9% 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 +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-bedroom, 2-bath manufactured home located in a desirable 55+ community in the heart of Boca Raton. This unit offers a functional layout with bright living spaces and great potential for a seasonal retreat or full-time residence. The home includes a carport with storage shed, where you'll find a newer washer and dryer. Additional appliances include refrigerator and oven. A pre-sale inspection was completed in January 2026 for added transparency. Enjoy low annual property taxes and a central Boca location close to shopping, dining, medical facilities, and major roadways. Affordable living in a well-established community!

Key facts

• Close to dining
• Close to shopping
• 4,249 sq ft lot

Tags

• CARPORT WITH STORAGE SHED
• NEWER WASHER AND DRYER
• CENTRAL BOCA LOCATION
• CLOSE TO SHOPPING
• CLOSE TO DINING
• CLOSE TO MEDICAL FACILITIES

Property features AI

Finance

• HOA & community: Community has an association; Monthly association fee of $250; Association covers cable TV, maintenance of grounds, and common areas; Association amenities include clubhouse, laundry, picnic area, shuffleboard court, on-site manager, and library; Senior community; Pets allowed (breed and size restrictions may apply; pet restrictions possible)

Exterior

• Utilities: No utilities listed
• Home design: Mobile home; Single-story; Faces north; Resale condition
• Construction: Modular construction
• Exterior features: Not waterfront; No waterfront features

Interior

• Bedrooms: 2 bedrooms on the main level
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Has heating (type: other); Central individual cooling
• Interior features: Unfurnished; No notable built-in interior features listed

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.7% 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: schools A+, employment A+, health & safety A+; 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.
• Market conditions: Rents flat; 430 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 38% of the median local income ($84k/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 $829 of loan paydown is wiped out by about $4k 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 + 0.3% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. 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. 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: 2.24% ✓
• Cap rate: 17.67%
• Cash-on-cash: 40.63%
• DSCR: 2.81
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.33% rent growth · sell at horizon

5-year hold

• IRR: 33.8%
• Equity multiple: 2.37×
• Total profit: $46,075
• Equity at exit: $17,877

10-year hold

• IRR: 39.2%
• Equity multiple: 4.17×
• Total profit: $106,546
• Equity at exit: $10,367

Cash invested: $33,572 (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 33433

• Rents YoY: 0.3%
• Active inventory: 430
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,688 high
• Mortgage (P&I): −$629
• Tax from tax record: −$58 /mo · $698/yr
• Insurance: −$50
• HOA: −$250
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $1,137

Break-even live

Break-even rent $1,249

Max offer price $119,900

Occupancy floor 53%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8458 Boca Glades Blvd E Boca Raton, FL	2.0	2.0	1307	$3,200	$2.45	5d	1	0.22mi
8540 Chevy Chase Dr Unit 8540 Boca Raton, FL	1.0	1.0	908	$2,000	$2.20	24d	1	0.25mi
8588 Bella Vista Dr Boca Raton, FL	2.0	2.0	1332	$2,999	$2.25	24d	1	0.26mi
8440 Boca Glades Blvd E Boca Raton, FL	2.0	2.0	1307	$3,400	$2.60	22d	1	0.37mi
8657 Boca Glades Blvd E Unit C Boca Raton, FL	3.0	2.0	1098	$2,800	$2.55	24d	1	0.37mi
8729 Chevy Chase Dr Boca Raton, FL	2.0	2.0	1332	$2,000	$1.50	24d	1	0.38mi
8732 Bella Vista Dr #42 Boca Raton, FL	2.0	2.0	908	$1,900	$2.09	24d	1	0.39mi
20867 Wendall Ter Boca Raton, FL	2.0	1.5	908	$1,800	$1.98	24d	1	0.42mi
8744 Bella Vista Dr Boca Raton, FL	2.0	2.0	1332	$2,100	$1.58	5d	1	0.42mi
20886 Vinesta Cir Unit 313 Boca Raton, FL	2.0	2.0	1332	$1,800	$1.35	24d	1	0.42mi
8833 Bella Vista Dr #8833 Boca Raton, FL	2.0	2.0	908	$3,250	$3.58	24d	1	0.50mi
21214 Lago Cir Unit 8f Boca Raton, FL	2.0	2.0	1216	$4,200	$3.45	24d	1	0.56mi
20927 Sedgewick Dr Unit 20927 Boca Raton, FL	2.0	1.0	908	$1,950	$2.15	24d	1	0.62mi
8425 Casa del Lago Unit C Boca Raton, FL	2.0	2.0	1216	$2,100	$1.73	22d	1	0.64mi
21362 Juego Cir Unit 33f Boca Raton, FL	2.0	2.0	1216	$3,500	$2.88	24d	1	0.74mi
21411 Juego Cir Unit 32b Boca Raton, FL	2.0	2.0	1216	$1,950	$1.60	24d	1	0.74mi
7911 Eastlake Dr Unit H Boca Raton, FL	2.0	2.0	1216	$2,200	$1.81	24d	1	0.74mi
7944 Eastlake Dr Unit D Boca Raton, FL	2.0	2.0	1216	$2,100	$1.73	24d	1	0.76mi
8045 Eastlake Dr Unit 1-G Boca Raton, FL	2.0	2.0	1216	$2,750	$2.26	24d	1	0.78mi
1405 Bridgewood Dr Unit 1405 Boca Raton, FL	2.0	2.5	1400	$3,100	$2.21	24d	1	0.78mi
1405 Bridgewood Dr Unit 1405 Boca Raton, FL	2.0	2.5	1400	$3,000	$2.14	22d	1	0.78mi
21643 Cypress Rd Unit 14C Boca Raton, FL	2.0	2.5	1426	$2,590	$1.82	3d	1	0.80mi
20525 S Charlston St Boca Raton, FL	2.0–3.0	2.0	1484	$3,439	$2.32	1d	2	0.82mi
2404 Bridgewood Dr Boca Raton, FL	2.0	2.5	1400	$4,700	$3.36	24d	1	0.82mi
8334 Cypress Ln Unit 1A Boca Raton, FL	2.0	2.0	1216	$3,000	$2.47	24d	1	0.85mi
21650 Juego Cir Unit 24b Boca Raton, FL	2.0	2.0	1216	$3,000	$2.47	24d	1	0.86mi
3705 Bridgewood Dr Boca Raton, FL	2.0	2.0	1400	$3,500	$2.50	24d	1	0.89mi
8436 Cypress Ln Unit 7d Boca Raton, FL	2.0	2.0	1216	$2,450	$2.01	17d	1	0.94mi
8436 Cypress Ln Unit 7d Boca Raton, FL	2.0	2.0	1216	$2,450	$2.01	15d	1	0.94mi
9280 Sable Ridge Cir Apt B Boca Raton, FL	2.0	2.0	1475	$2,700	$1.83	3d	1	0.95mi
3604 Bridgewood Dr Boca Raton, FL	2.0	2.5	1400	$2,450	$1.75	24d	1	0.95mi
9292 Sabal Ridge Cir Unit D Boca Raton, FL	2.0	2.0	1475	$2,650	$1.80	11d	1	0.98mi
9292 Sabal Ridge Cir Unit D Boca Raton, FL	2.0	2.0	1475	$2,650	$1.80	24d	1	0.98mi
9256 Sabal Ridge Cir Unit D Boca Raton, FL	2.0	2.0	1475	$2,695	$1.83	24d	1	0.98mi
21535 Cypress Hammock Dr Unit 36J Boca Raton, FL	2.0	2.0	1266	$2,200	$1.74	24d	1	0.99mi
21529 Cypress Hammock Dr Unit 35J Boca Raton, FL	2.0	2.0	1266	$2,395	$1.89	12d	1	1.01mi
9260 Ketay Cir #2 Boca Raton, FL	2.0	2.0	1279	$2,200	$1.72	24d	1	1.01mi
21820 Cypress Cir Unit 25e Boca Raton, FL	1.0	1.0	1216	$1,000	$0.82	22d	1	1.03mi
21500 Cypress Hammock Dr Unit 38C Boca Raton, FL	2.0	2.0	1266	$2,500	$1.97	24d	1	1.03mi
3205 Bridgewood Dr #3205 Boca Raton, FL	2.0	2.5	1400	$3,200	$2.29	24d	1	1.05mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $119,900 Active 124 DOM
2. 2026-06-17
   days on market $119,900 Active 123 DOM
3. 2026-06-16
   days on market $119,900 Active 122 DOM
4. 2026-06-15
   days on market $119,900 Active 121 DOM
5. 2026-06-13
   days on market $119,900 Active 119 DOM
6. 2026-06-09
   days on market $119,900 Active 115 DOM
7. 2026-06-07
   days on market $119,900 Active 113 DOM
8. 2026-06-04
   days on market $119,900 Active 110 DOM
9. 2026-06-03
   days on market $119,900 Active 109 DOM
10. 2026-06-01
    days on market $119,900 Active 107 DOM
11. 2026-05-31
    days on market $119,900 Active 106 DOM
12. 2026-02-14
    listed $119,900 Active

ⓘ 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: $698 · $58/mo
• Projected year-2 tax: $995 · $83/mo
• Expected delta: +$298/yr (+$25/mo · 42.7%)

ⓘ 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 ≥107°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,257
• − Mortgage interest: −$6,716
• − Property taxes: −$698
• − Insurance: −$600
• − Repairs & maintenance: −$2,581
• − Management: −$2,581
• − HOA: −$3,000
• − Depreciation: −$3,488
• Taxable income: $12,595
• Est. tax owed @ 24.0%: −$3,023
• After-tax cash flow: $10,618/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

• County: Palm Beach County · 1,438,312 people
• City population: 250,102
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 47,005
• Household income: $84,091
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 2900.0

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% Hispanic / Latino 18% Two or more races 15% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 2% Dominican 1%
• Common ancestry: Romanian 6% Scotch-Irish 5% Russian 3%
• Foreign-born: 27% · Canada, Jamaica, China
• Languages at home: 65% English-only · Spanish 15% Other Indo-European 10% 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: ▼ -227.85%
• Current HPI: 306.738
• Rent YoY: ▲ 0.33%
• 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

• 2026-02-14 Listed $119,900 Beaches MLS

Property tax history

+2.8%/yr

Latest (2025): $698 · +5.0% YoY. Source: county tax records.