9729 Lemonwood Way · Golf, FL 33437

$379,000

3 bd · 2.0 ba · 1,972 sqft · SingleFamily public records · 5 Days on market

Built 1996 6,837 sqft lot $522/mo HOA · 14% 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 +14.4/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• Appreciation +4.9/10.0
• DSCR +4.4/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to The Grove in Boynton Beach! Situated on a desirable corner lot, this 3-bedroom, 2-bath home offers a fantastic opportunity to create the home you've always envisioned. With great bones and endless potential, to make this residence your dream home. Located in the highly sought-after 55+ gated community of The Grove, residents enjoy an active and vibrant lifestyle with a beautifully renovated clubhouse, resort-style pool and spa, fitness center, tennis and pickleball courts, billiards, card rooms, arts and crafts studio, library, and a full calendar of social events, clubs, shows, and activities. Conveniently located near shopping, dining, medical facilities, and major highways, an

Key facts

• Fitness center
• Renovated clubhouse
• Resort style pool

Tags

• CORNER LOT
• 55 GATED COMMUNITY
• RENOVATED CLUBHOUSE
• RESORT STYLE POOL
• FITNESS CENTER
• TENNIS COURTS

Property features AI

Finance

• Other: Not a land lease
• Financial info: Pets allowed (pet restrictions possible)
• HOA & community: Community: The Grove at Boynton Beach; Monthly HOA fee includes cable, internet, grounds maintenance, security, trash, common areas, reserve funds, and recreation facilities; Association amenities include clubhouse, fitness center, pool (heated), spa/hot tub, sauna, billiard and game rooms, tennis and pickleball courts, shuffleboard, sidewalks, street lights, gated entry, on-site manager, and other recreation facilities; Monthly HOA fee

Exterior

• Parking: Attached 2-car garage; Driveway with paver block; 2 covered parking spaces
• Security: Gated community with guard; Security gate; Security system
• Utilities: Public water; Public sewer; Cable available; Electricity available
• Home design: Single-family residence; One-story; Resale property; Faces south
• Construction: Stucco over concrete block construction; Barrel tile roof; Block and slab foundation; Built in public records (living area 1,972)
• Exterior features: Covered and screened patio; Additional patio; Storage structure; Corner lot; Asphalt road (private maintained)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Built-in features; Cathedral and vaulted ceilings; Entrance foyer; High ceilings; Kitchen island; Walk-in closets; Split bedroom layout; Closet cabinetry
• Laundry & utility: Laundry room with washer and electric dryer hookups (inside)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $379k.

Deal economics

• At list price, monthly cash flow is $75 ($899/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $375k (1.1% below list).
• Recommended offer: $375k (1.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#703 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, 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: Crystal Lakes Elementary School (math 55% / reading 64%, grade B-, #690 of 2,144 statewide, top 34%, 788 students, 37% FRL); Park Vista Community High School (math 43% / reading 64%, grade C-, #146 of 667 statewide, top 22%, 3,191 students, 28% FRL) — zoned schools average 33% FRL vs 52% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.3%/yr); 490 active listings in the ZIP; 25 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).
• At $3,747/mo this rent would consume 56% of the median local household income ($81k/yr) (locally 902% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $2k of equity ($3k loan paydown + $-916 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.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

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 $374,696 (1.1% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.99% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.85%
• DSCR: 1.04
• GRM: 8.4

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: -3.5%
• Equity multiple: 0.84×
• Total profit: $-16,755
• Equity at exit: $105,492

10-year hold

• IRR: 1.1%
• Equity multiple: 1.11×
• Total profit: $12,111
• Equity at exit: $123,224

Cash invested: $106,120 (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: 8.4×

Monthly cashflow live

• Estimated rent: $3,747 high
• Mortgage (P&I): −$1,988
• Tax from tax record: −$218 /mo · $2,613/yr
• Insurance: −$158
• HOA: −$522
• Vacancy / Maint / Mgmt: −$787
• Net cashflow: $75

Break-even live

Break-even rent $3,652

Max offer price $379,000

Occupancy floor 93%

Sensitivity live

Price	-10% $289	-5% $182	+0% $75	+5% $-32	+10% $-140
Rent	-10% $-221	-5% $-73	+0% $75	+5% $223	+10% $371
Rate	-1.0pp $266	-0.5pp $171	base $75	+0.5pp $-23	+1.0pp $-123

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: $94,750
• Closing costs: $11,370
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7891 Sailing Shores Ter Boynton Beach, FL	3.0	2.0	2011	$3,400	$1.69	18d	1	0.48mi
7891 Sailing Shores Ter Unit 7891 Boynton Beach, FL	3.0	2.0	2011	$3,000	$1.49	8d	1	0.48mi
9650 Harbour Lake Cir Boynton Beach, FL	3.0	2.0	1937	$2,975	$1.54	25d	1	0.51mi
7933 Venture Center Way Boynton Beach, FL	1.0–3.0	1.0–2.0	1120	$2,911	$2.60	0d	17	0.54mi
7275 Summer Tree Dr Boynton Beach, FL	2.0	2.0	1722	$4,300	$2.50	25d	1	0.55mi
7577 Caprio Dr Boynton Beach, FL	3.0	2.0	1884	$3,200	$1.70	15d	1	0.62mi
7577 Caprio Dr Boynton Beach, FL	3.0	2.0	1884	$3,200	$1.70	4d	1	0.62mi
7192 Summer Tree Dr Boynton Beach, FL	2.0	2.0	1722	$3,000	$1.74	25d	1	0.65mi
7662 Spatterdock Dr Boynton Beach, FL	4.0	2.5	1966	$3,600	$1.83	0d	1	0.80mi
8884 Shoal Creek Ln Boynton Beach, FL	3.0	2.0	1936	$4,750	$2.45	0d	1	0.82mi
8884 Shoal Creek Ln Boynton Beach, FL	3.0	2.0	1936	$4,900	$2.53	25d	1	0.82mi
8884 Shoal Creek Ln Boynton Beach, FL	3.0	2.0	1936	$5,000	$2.58	12d	1	0.82mi
7832 Rockford Rd Boynton Beach, FL	3.0	2.0	1598	$3,800	$2.38	23d	1	0.83mi
7725 Rockford Rd Boynton Beach, FL	3.0	2.5	2249	$10,000	$4.45	4d	1	0.96mi
7936 Rockford Rd Boynton Beach, FL	3.0	2.0	1871	$9,000	$4.81	23d	1	1.00mi
10206 Stonehenge Cir Boynton Beach, FL	1.0–3.0	1.0–2.0	1054	$2,650	$2.51	0d	12	1.08mi
7975 Rockford Rd Boynton Beach, FL	2.0	2.0	1720	$3,700	$2.15	25d	1	1.09mi
7821 Dorchester Rd Boynton Beach, FL	3.0	3.0	2325	$11,000	$4.73	25d	1	1.16mi
9336 Water Course Way Boynton Beach, FL	3.0	2.0	1779	$3,600	$2.02	25d	1	1.36mi
9336 Water Course Way Boynton Beach, FL	3.0	2.0	1779	$3,600	$2.02	23d	1	1.36mi
7816 Bridlington Dr Boynton Beach, FL	3.0	3.0	2330	$12,000	$5.15	25d	1	1.37mi
8895 Chestnut Ridge Way Boynton Beach, FL	4.0	3.0	2530	$4,500	$1.78	25d	1	1.41mi
9926 Watermill Cir Unit F Boynton Beach, FL	3.0	2.0	1471	$2,400	$1.63	25d	1	1.47mi
10390 Utopia Cir E Unit E Boynton Beach, FL	3.0	2.0	1845	$4,200	$2.28	4d	1	1.48mi
10390 Utopia Cir E Unit 10390 Boynton Beach, FL	3.0	2.0	1845	$4,200	$2.28	25d	1	1.48mi

HOA detail

• Monthly dues: $522 · $6,264/yr
• Likely covers: poolgymsecurity

Listing history 5 events

1. 2026-06-21
   days on market $379,000 Active 5 DOM
2. 2026-06-18
   days on market $379,000 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   remarks 696-char remark
5. 2026-06-17
   listed $379,000 Active 1 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: $2,613 · $218/mo
• Projected year-2 tax: $3,146 · $262/mo
• Expected delta: +$533/yr (+$44/mo · 20.4%)

ⓘ 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 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,964
• − Mortgage interest: −$21,230
• − Property taxes: −$2,613
• − Insurance: −$1,895
• − Repairs & maintenance: −$3,597
• − Management: −$3,597
• − HOA: −$6,264
• − Depreciation: −$11,025
• Taxable loss: −$5,258
• Est. tax savings @ 24.0%: +$1,262
• After-tax cash flow: $2,161/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 — Golf

• Score: 63/100
• State rank: #703
• US rank: #14941

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• 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

1 event — show timeline

• 2026-06-16 Listed $379,000 Beaches MLS

Property tax history

+1.5%/yr

Latest (2025): $2,613 · +3.4% YoY. Source: county tax records.