1047 Lincoln C · Boca Raton, FL 33434

$110,000

2 bd · 2.0 ba · 896 sqft · Condo public records · 72 Days on market

Built 1980 $845/mo HOA · 44% 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).

• 1% rule +10.0/10.0
• Cash flow +8.1/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2/2,immaculate apt,park right outside your door,beautiful lake view,updated kitchen with newer appliances,water filter in kitchen,extra cabinet in kitchen on wheels so you can move it,nicely furnished,textured walls,flat screen TV's,tile throughout except master bedroom has newer carpet,ceiling fans,this home is nicely furnished, come see and then check out the clubhouse to see all it has to offer.

Key facts

• $845 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: HOA managed by First Service Residential; Monthly HOA fee; Association amenities include: pool, tennis courts, clubhouse, billiard room, library, hobby room, laundry, storage, elevators, jog/path, picnic area, sidewalks, recreation facilities, courtesy bus, maintained community, gated access, security, trash service, parking, and internet included; HOA covers insurance, internet, grounds and structure maintenance, sewer, trash, common areas, elevator, roof repairs, recreation facility, and pool service

Exterior

• Parking: Assigned parking; Common parking; Driveway; Open parking (1 total)
• Security: Gated community with guard; Security gate
• Utilities: Public water; Public sewer; Electricity connected; Water available
• Home design: Condominium; Resale condition; First-floor entry; Faces north; 4-story building
• Construction: CBS construction; Concrete roof
• Exterior features: Screened patio and screened porch; Patio; Porch; Waterfront (no specific waterfront features listed)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fan(s); Humidity control
• Interior features: Walk-in closet(s); Furnished; Blinds on windows
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $-108 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $91k (17.3% below list).
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $91k (17.3% below list) — sets the bar for cash-flow.
• Cap rate 5.1% 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: Whispering Pines Elementary School (math 62% / reading 69%, grade B+, #500 of 2,144 statewide, top 24%, 1,015 students, 25% FRL); Eagles Landing Middle School (math 66% / reading 67%, grade A-, #84 of 571 statewide, top 16%, 1,508 students, 27% FRL); Olympic Heights Community High (math 52% / reading 64%, grade C, #120 of 667 statewide, top 18%, 2,602 students, 30% FRL) — zoned schools average 27% FRL vs 52% district-wide (25 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 63% at this address vs 50% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Palm Beach average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.8%/yr); 421 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 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 72 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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 $74k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 44% 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 $90,998 (17.3% 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 72 days. Have you received any prior offers? Is the seller open to a 17% 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 1.77% ✓
• Cap rate: 5.12%
• Cash-on-cash: -4.19%
• DSCR: 0.81
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.81% rent growth · sell at horizon

5-year hold

• IRR: -25.8%
• Equity multiple: 0.14×
• Total profit: $-26,403
• Equity at exit: $16,401

10-year hold

• IRR: -31.1%
• Equity multiple: -0.26×
• Total profit: $-38,699
• Equity at exit: $9,511

Cash invested: $30,800 (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 33434

• Rents YoY: 1.8%
• Active inventory: 421
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,942 high
• Mortgage (P&I): −$577
• Tax from tax record: −$174 /mo · $2,087/yr
• Insurance: −$46
• HOA: −$845
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $-108

Break-even live

Break-even rent $2,078

Max offer price $90,998

Occupancy floor —

Sensitivity live

Price	-10% $-45	-5% $-76	+0% $-108	+5% $-139	+10% $-170
Rent	-10% $-261	-5% $-184	+0% $-108	+5% $-31	+10% $46
Rate	-1.0pp $-52	-0.5pp $-80	base $-108	+0.5pp $-136	+1.0pp $-165

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4047 Lincoln C Unit C Boca Raton, FL	2.0	2.0	916	$2,100	$2.29	7d	1	0.01mi
4019 Lincoln A Unit A Boca Raton, FL	2.0	2.0	896	$1,600	$1.79	26d	1	0.04mi
2044 Hythe C Boca Raton, FL	2.0	2.0	896	$1,825	$2.04	26d	1	0.12mi
2050 Hythe C Boca Raton, FL	2.0	2.0	880	$3,200	$3.64	26d	1	0.16mi
3032 Hythe A Unit 3032 Boca Raton, FL	2.0	2.0	896	$1,575	$1.76	26d	1	0.17mi
4014 Newcastle A Unit A Boca Raton, FL	1.0	1.5	738	$1,495	$2.03	26d	1	0.17mi
1025 Newcastle B #1025 Boca Raton, FL	2.0	2.0	896	$1,800	$2.01	18d	1	0.17mi
2017 Newcastle A Unit 2017 Boca Raton, FL	2.0	2.0	896	$1,850	$2.06	26d	1	0.17mi
540 Mansfield M Boca Raton, FL	1.0	1.0	810	$1,400	$1.73	26d	1	0.19mi
86 Mansfield C Unit C Boca Raton, FL	1.0	1.5	720	$1,700	$2.36	13d	1	0.19mi
534 Mansfield M #534 Boca Raton, FL	1.0	1.5	715	$1,300	$1.82	26d	1	0.19mi
445 Mansfield K #445 Boca Raton, FL	2.0	1.5	840	$1,700	$2.02	9d	1	0.19mi
375 Mansfield I Unit I Boca Raton, FL	2.0	1.5	840	$1,625	$1.93	1d	1	0.19mi
256 Mansfield G Unit G Boca Raton, FL	2.0	1.5	840	$1,750	$2.08	20d	1	0.19mi
84 Mansfield B #84 Boca Raton, FL	2.0	1.5	840	$1,550	$1.85	1d	1	0.19mi
99 Mansfield D #99 Boca Raton, FL	2.0	1.5	840	$1,500	$1.79	4d	1	0.21mi
332 Mansfield H Boca Raton, FL	2.0	1.5	840	$1,650	$1.96	26d	1	0.24mi
202 Mansfield E Boca Raton, FL	1.0	1.5	720	$1,450	$2.01	1d	1	0.24mi
144 Mansfield D Unit d Boca Raton, FL	2.0	1.5	840	$1,500	$1.79	22d	1	0.24mi
457 Mansfield I Unit 457 Boca Raton, FL	1.0	1.5	720	$1,700	$2.36	4d	1	0.24mi
497 Mansfield L Unit L Boca Raton, FL	1.0	1.0	810	$1,500	$1.85	1d	1	0.29mi
474 Mansfield L Unit L Boca Raton, FL	1.0	1.5	720	$1,400	$1.94	12d	1	0.29mi
613 Fanshaw N Boca Raton, FL	2.0	1.5	819	$1,700	$2.08	4d	1	0.29mi
613 Fanshaw N Boca Raton, FL	2.0	1.5	819	$1,750	$2.14	4d	1	0.29mi
517 Mansfield M Unit 517 Boca Raton, FL	1.0	1.5	715	$1,550	$2.17	26d	1	0.30mi
43 Fanshaw B Boca Raton, FL	2.0	1.5	819	$1,625	$1.98	26d	1	0.30mi
147 Fanshaw D Boca Raton, FL	1.0	1.0	601	$1,350	$2.25	26d	1	0.30mi
560 Fanshaw N #560 Boca Raton, FL	2.0	1.5	819	$1,500	$1.83	26d	1	0.30mi
493 Fanshaw L #493 Boca Raton, FL	2.0	1.5	819	$2,300	$2.81	3d	1	0.30mi
320 Fanshaw H #320 Boca Raton, FL	2.0	1.5	835	$1,500	$1.80	9d	1	0.30mi
119 Fanshaw C Unit 119 Boca Raton, FL	1.0	1.0	585	$1,299	$2.22	26d	1	0.30mi
137 Fanshaw D Boca Raton, FL	2.0	1.5	819	$1,800	$2.20	12d	1	0.30mi
195 Fanshaw E #195 Boca Raton, FL	1.0	1.5	792	$1,300	$1.64	9d	1	0.30mi
17 Fanshaw a Boca Raton, FL	2.0	1.5	819	$1,750	$2.14	23d	1	0.30mi
257 Fanshaw G Boca Raton, FL	2.0	2.0	819	$1,750	$2.14	26d	1	0.30mi
531 Fanshaw M Unit 531 Boca Raton, FL	2.0	1.5	819	$1,500	$1.83	26d	1	0.30mi
531 Fanshaw M Unit 531 Boca Raton, FL	2.0	1.5	819	$1,500	$1.83	3d	1	0.30mi
536 Fanshaw M Boca Raton, FL	2.0	2.0	819	$1,850	$2.26	26d	1	0.32mi
449 Fanshaw K #449 Boca Raton, FL	2.0	1.5	819	$1,850	$2.26	21d	1	0.32mi
108 Fanshaw C Boca Raton, FL	2.0	1.5	924	$1,700	$1.84	26d	1	0.32mi

HOA detail condo

• Monthly dues: $845 · $10,140/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-13
   statusdays on market $110,000 Pending 72 DOM
2. 2026-06-09
   days on market $110,000 Active 71 DOM
3. 2026-06-08
   days on market $110,000 Active 70 DOM
4. 2026-06-07
   days on market $110,000 Active 69 DOM
5. 2026-06-04
   days on market $110,000 Active 66 DOM
6. 2026-06-03
   days on market $110,000 Active 65 DOM
7. 2026-06-02
   days on market $110,000 Active 64 DOM
8. 2026-06-01
   days on market $110,000 Active 63 DOM
9. 2026-05-31
   days on market $110,000 Active 62 DOM
10. 2026-04-13
    status Active
11. 2026-04-08
    historical Active Under Contract
12. 2026-03-30
    listed $110,000 Active
13. 2015-04-23
    soldstatus $74,000
14. 2015-04-17
    soldstatus $74,000 Closed 401-char remark

    Show marketing remark (401 chars)

    2/2,immaculate apt,park right outside your door,beautiful lake view,updated kitchen with newer appliances,water filter in kitchen,extra cabinet in kitchen on wheels so you can move it,nicely furnished,textured walls,flat screen TV's,tile throughout except master bedroom has newer carpet,ceiling fans,this home is nicely furnished, come see and then check out the clubhouse to see all it has to offer.

15. 2015-03-13
    status Pending 401-char remark

    Show marketing remark (401 chars)

    2/2,immaculate apt,park right outside your door,beautiful lake view,updated kitchen with newer appliances,water filter in kitchen,extra cabinet in kitchen on wheels so you can move it,nicely furnished,textured walls,flat screen TV's,tile throughout except master bedroom has newer carpet,ceiling fans,this home is nicely furnished, come see and then check out the clubhouse to see all it has to offer.

16. 2015-03-06
    status Active 401-char remark

    Show marketing remark (401 chars)

    2/2,immaculate apt,park right outside your door,beautiful lake view,updated kitchen with newer appliances,water filter in kitchen,extra cabinet in kitchen on wheels so you can move it,nicely furnished,textured walls,flat screen TV's,tile throughout except master bedroom has newer carpet,ceiling fans,this home is nicely furnished, come see and then check out the clubhouse to see all it has to offer.

17. 2015-03-01
    status Pending 401-char remark

    Show marketing remark (401 chars)

    2/2,immaculate apt,park right outside your door,beautiful lake view,updated kitchen with newer appliances,water filter in kitchen,extra cabinet in kitchen on wheels so you can move it,nicely furnished,textured walls,flat screen TV's,tile throughout except master bedroom has newer carpet,ceiling fans,this home is nicely furnished, come see and then check out the clubhouse to see all it has to offer.

18. 2015-02-03
    listed $77,000 Active 401-char remark

    Show marketing remark (401 chars)

    2/2,immaculate apt,park right outside your door,beautiful lake view,updated kitchen with newer appliances,water filter in kitchen,extra cabinet in kitchen on wheels so you can move it,nicely furnished,textured walls,flat screen TV's,tile throughout except master bedroom has newer carpet,ceiling fans,this home is nicely furnished, come see and then check out the clubhouse to see all it has to offer.

19. 1983-12-01
    soldstatus $47,000
20. 1981-07-01
    soldstatus $49,500

ⓘ 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: $2,087 · $174/mo
• Projected year-2 tax: $2,087 · $174/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 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: $23,302
• − Mortgage interest: −$6,162
• − Property taxes: −$2,087
• − Insurance: −$550
• − Repairs & maintenance: −$1,864
• − Management: −$1,864
• − HOA: −$10,140
• − Depreciation: −$3,200
• Taxable loss: −$2,565
• Est. tax savings @ 24.0%: +$616
• After-tax cash flow: $-675/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): 21,686
• Household income: $77,269
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 812.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 18% Two or more races 13% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 9% Scotch-Irish 8% Italian 2%
• Foreign-born: 25% · Canada, Jamaica, South Korea
• Languages at home: 73% English-only · Spanish 15% Other Indo-European 4% Russian/Polish/Slavic 1%

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: ▼ -279.89%
• Current HPI: 271.1328
• Rent YoY: ▲ 1.81%
• 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

+122.2% since first listed

11 events — show timeline

• 2026-04-13 Relisted — Beaches MLS
• 2026-04-08 Contingent — Beaches MLS
• 2026-03-30 Listed $110,000 Beaches MLS
• 2015-04-23 Sold (Public Records) $74,000 Public Records
• 2015-04-17 Sold (MLS) $74,000 Beaches MLS
• 2015-03-13 Pending — Beaches MLS
• 2015-03-06 Relisted — Beaches MLS
• 2015-03-01 Pending — Beaches MLS
• 2015-02-03 Listed $77,000 Beaches MLS
• 1983-12-01 Sold (Public Records) $47,000 Public Records
• 1981-07-01 Sold (Public Records) $49,500 Public Records

Property tax history

+6.6%/yr

Latest (2025): $2,087 · -4.9% YoY. Source: county tax records.