9233 SW 8th St #117 · Boca Raton, FL 33428

$99,777

1 bd · 1.5 ba · 741 sqft · Condo public records · 346 Days on market

Built 1979 Good condition $135/sqft · 45% below area Est $183k · 45% under $465/mo HOA · 24% of rent

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Why this score? — see what drove the A- 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 +28.5/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.2/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0
• Appreciation +0.0/10.0

Listing remarks

* MOTIVATED SELLER * ASSOC. says age 55+, credit 680+, 1 INDOOR CAT Allowed, LEASE after 1 yr. for 3-12 mos. Building has newer Silicon & Foam roof 2023, and new exterior paint 2024. Xfinity cable & Internet included. New pool building 2025 and HTD pool. Screened patio with pulldown shutters and W/ D closet. Tennis and garden view. New white Appl, new vinyl plank flooring, new bath vanities, ceiling fans. Also available for annual Lease at $1500/mo.

Key facts

• Screened patio
• New foam roof
• New exterior paint

Tags

• NEW SILICON ROOF
• NEW FOAM ROOF
• NEW EXTERIOR PAINT
• SCREENED PATIO
• TENNIS VIEW
• GARDEN VIEW

🏷️ Possibly a rental listed for sale. The $99,777 price doesn't fit this home's estimated sale value (~$182,950) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

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: Hammock Pointe Elementary School (math 61% / reading 63%, grade B, #608 of 2,144 statewide, top 29%, 958 students, 42% 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 33% FRL vs 52% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 62% at this address vs 50% district-wide (+13 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 (+3.7%/yr); 332 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 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 $690 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.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 346 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask is 6781% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $40k; list at $100k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,803 (12.0% below list)

Questions for the listing agent

1. It's been on market 346 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 1979 — 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: 1.90% ✓
• Cap rate: 10.21%
• Cash-on-cash: 13.98%
• DSCR: 1.62
• GRM: 4.4

CMA / ARV

• ARV (median comp): $182,950
• List price: $99,777
• Delta: -45.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9233 SW 8th St #119	0.00mi	1/1.5	741 (0%)	0mo	$105,000	$142	100
9273 SW 8th St #216	0.04mi	1/1.5	741 (0%)	4mo	$138,000	$186	94
9235 SW 8th St #509	0.12mi	1/1.5	741 (0%)	5mo	$130,000	$175	90
9273 SW 8th St #311	0.04mi	2/2.0 (+1)	900 (+22%)	5mo	$179,900	$200	62
9235 SW 8th St #403	0.12mi	2/2.0 (+1)	900 (+22%)	5mo	$200,000	$222	58
9370 SW 8th St #402	0.06mi	2/2.0 (+1)	900 (+22%)	11mo	$210,000	$233	56
9370 SW 8th St #208	0.06mi	2/2.0 (+1)	900 (+22%)	14mo	$235,000	$261	54
9355 SW 8th Street St #406	0.19mi	2/2.0 (+1)	918 (+24%)	27mo	$205,000	$223	39
9430 Boca Cove Cir #210	0.76mi	1/1.0	576 (-22%)	3mo	$186,000	$323	36
9449 Boca Cove Cir #911	0.79mi	2/2.0 (+1)	912 (+23%)	2mo	$220,000	$241	32
9480 Boca Cove Cir #416	0.78mi	2/2.0 (+1)	800 (+8%)	28mo	$245,000	$306	25
9431 Boca Cove Cir #1001	0.78mi	2/2.0 (+1)	900 (+22%)	21mo	$256,000	$284	16

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.72% rent growth · sell at horizon

5-year hold

• IRR: 5.7%
• Equity multiple: 1.22×
• Total profit: $6,279
• Equity at exit: $14,877

10-year hold

• IRR: 16.2%
• Equity multiple: 2.41×
• Total profit: $39,264
• Equity at exit: $8,627

Cash invested: $27,938 (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 →

Active competition Active MLS

• For sale now: 3 active · 1 under contract
• Median asking: $165,777 ($190/sqft)
• Median days on market: 82 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +30.2% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33428

• Rents YoY: 3.7%
• Active inventory: 332
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,899 high
• Mortgage (P&I): −$523
• Tax from tax record: −$145 /mo · $1,741/yr
• Insurance: −$42
• HOA: −$465
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $326

Break-even live

Break-even rent $1,487

Max offer price $99,777

Occupancy floor 78%

Sensitivity live

Price	-10% $382	-5% $354	+0% $326	+5% $297	+10% $269
Rent	-10% $175	-5% $251	+0% $326	+5% $401	+10% $476
Rate	-1.0pp $376	-0.5pp $351	base $326	+0.5pp $300	+1.0pp $273

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: $24,944
• Closing costs: $2,993
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9273 SW 8th St Boca Raton, FL	1.0–2.0	1.5–2.0	820	$1,690	$2.06	8d	2	0.07mi
9440 SW 8th St #417 Boca Raton, FL	1.0	1.5	741	$1,700	$2.29	3d	1	0.10mi
9260 Boca Vue Dr Boca Raton, FL	1.0–3.0	1.0–2.0	1052	$2,175	$2.07	0d	25	0.14mi
9355 SW 8th St Boca Raton, FL	1.0–2.0	1.5–2.0	780	$1,600	$2.05	3d	4	0.16mi
10132 Windtree Ln S Boca Raton, FL	1.0	1.0	550	$1,395	$2.54	24d	1	0.89mi
10534 Marina Way Boca Raton, FL	1.0	1.0	500	$1,100	$2.20	43d	1	1.30mi
5201 W Hillsboro Blvd Coconut Creek, FL	1.0–2.0	1.0–2.0	1031	$2,139	$2.07	0d	28	1.42mi

Property features AI

Finance

• Other: Building area reported by ownerBuilding has 4 total storiesElevator access available
• HOA & community: Association amenities: cabana, elevators, laundry, parking, pool, storage, tennis courts, trash chute, library, sidewalks, street lightsMonthly HOA feeAssociation fees cover cable TV, insurance, grounds maintenance, security, sewer, trash, water and common areasSenior communityPets allowed with restrictions (cats only, number limit; pet restrictions possible)

Exterior

• Parking: Assigned parkingGuest parking
• Security: Closed-circuit camerasFire alarmSmoke detectorsSecurity lightsSecurity systemEntry phone/intercomSecurity patrol
• Utilities: Public waterPublic sewerThree-phase electricCable availableSewer availableWater available
• Home design: CondominiumResale property4-story buildingFaces east
• Construction: CBS constructionOther roof typeBuilt as part of a multi-story building
• Exterior features: Covered patioScreened patioPatioCabanaSidewalksPublic road frontageNot waterfront

Interior

• Kitchen: DishwasherElectric rangeRefrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom1 half bathroom
• Heating & cooling: Central individual electric heatingCentral individual electric coolingCeiling fan(s)
• Interior features: Entrance foyerWalk-in closet(s)
• Laundry & utility: Laundry closet insideElectric water heater

HOA detail $465/mo · $5,580/yr condo

• Likely covers: internetcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $99,777 Active 346 DOM
2. 2026-08-06
   days on market $99,777 Active 344 DOM
3. 2026-08-05
   days on market $99,777 Active 343 DOM
4. 2026-08-03
   pricedays on market $99,777 Active 341 DOM
5. 2026-07-31
   days on market $99,900 Active 338 DOM
6. 2026-07-24
   days on market $99,900 Active 331 DOM
7. 2026-07-23
   days on market $99,900 Active 330 DOM
8. 2026-07-22
   days on market $99,900 Active 329 DOM
9. 2026-07-21
   days on market $99,900 Active 328 DOM
10. 2026-07-18
    days on market $99,900 Active 325 DOM
11. 2026-07-16
    days on market $99,900 Active 323 DOM
12. 2026-07-15
    days on market $99,900 Active 322 DOM
13. 2026-07-14
    days on market $99,900 Active 321 DOM
14. 2026-07-13
    days on market $99,900 Active 320 DOM
15. 2026-07-13
    days on market $99,900 Active 319 DOM
16. 2026-07-12
    days on market $99,900 Active 318 DOM
17. 2026-07-10
    days on market $99,900 Active 317 DOM
18. 2026-07-09
    days on market $99,900 Active 316 DOM
19. 2026-07-07
    days on market $99,900 Active 314 DOM
20. 2026-07-06
    days on market $99,900 Active 313 DOM
21. 2026-07-06
    days on market $99,900 Active 312 DOM
22. 2026-07-05
    days on market $99,900 Active 311 DOM
23. 2026-07-04
    days on market $99,900 Active 310 DOM
24. 2026-07-02
    days on market $99,900 Active 309 DOM
25. 2026-07-01
    days on market $99,900 Active 308 DOM
26. 2026-06-30
    days on market $99,900 Active 307 DOM
27. 2026-06-29
    days on market $99,900 Active 306 DOM
28. 2026-06-28
    days on market $99,900 Active 305 DOM
29. 2026-06-27
    days on market $99,900 Active 304 DOM
30. 2026-06-26
    days on market $99,900 Active 303 DOM
31. 2026-06-24
    days on market $99,900 Active 301 DOM
32. 2026-06-22
    days on market $99,900 Active 299 DOM
33. 2026-06-21
    days on market $99,900 Active 298 DOM
34. 2026-06-18
    days on market $99,900 Active 295 DOM
35. 2026-06-17
    days on market $99,900 Active 294 DOM
36. 2026-06-16
    days on market $99,900 Active 293 DOM
37. 2026-06-15
    days on market $99,900 Active 292 DOM
38. 2026-06-13
    days on market $99,900 Active 290 DOM
39. 2026-06-09
    days on market $99,900 Active 286 DOM
40. 2026-06-07
    days on market $99,900 Active 284 DOM
41. 2026-06-04
    days on market $99,900 Active 281 DOM
42. 2026-06-03
    days on market $99,900 Active 280 DOM
43. 2026-06-01
    days on market $99,900 Active 278 DOM
44. 2026-05-31
    days on market $99,900 Active 277 DOM
45. 2026-04-09
    listed $1,450
46. 2026-04-09
    historical $1,450
47. 2026-04-01
    listed $1,450
48. 2026-03-31
    historical $1,450
49. 2026-03-05
    price $1,450
50. 2026-02-23
    price $99,900

ⓘ 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: $1,741 · $145/mo
• Projected year-2 tax: $1,741 · $145/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 · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,792
• − Mortgage interest: −$5,589
• − Property taxes: −$1,741
• − Insurance: −$499
• − Repairs & maintenance: −$1,823
• − Management: −$1,823
• − HOA: −$5,580
• − Depreciation: −$2,903
• Taxable income: $2,833
• Est. tax owed @ 24.0%: −$680
• After-tax cash flow: $3,227/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.

Condition & rehab AI · 9 photos

Good 75/100 Cosmetic rehab Est. rehab $3,705–$11,115 screening

This townhouse is in good condition with recent updates, including a new roof, exterior paint, and flooring. It's move-in ready and would benefit from modernizing the HVAC system and adding fresh paint for a fresh look.

Value-add opportunities

• Both New air conditioning units — Modernizes the HVAC system and improves comfort ↑
• Both New vinyl plank flooring — Enhances the aesthetic and durability of the flooring ↑
• Both New paint — Freshens the interior and exterior appearance ↑
• Both New bath vanities — Updates the bathrooms and adds functionality ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 62/100

Zoned Schools

Elementary Hammock Pointe Elementary School B FL #608/2,144 Nat'l #6,217/41,679 Middle Eagles Landing Middle School A- FL #84/571 Nat'l #1,110/14,009 High Olympic Heights Community High C FL #120/667 Nat'l #3,986/17,239

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

B Composite livability gradescore 77/100

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 · 1,637,487 people
• City population: 250,102
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 47,588
• Household income: $88,543
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 15% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 50% Two or more races 23% Hispanic / Latino 22% Black 7% Asian 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Estonian 12% Romanian 3% Scotch-Irish 3%
• Foreign-born: 37% · Canada, Jamaica, Vietnam
• Languages at home: 55% English-only · Spanish 19% Other Indo-European 17% French/Haitian/Cajun 2%

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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: ▼ -299.00%
• Current HPI: 373.2649
• Rent YoY: ▲ 3.72%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Other: Building area reported by ownerBuilding has 4 total storiesElevator access available
• HOA & community: Association amenities: cabana, elevators, laundry, parking, pool, storage, tennis courts, trash chute, library, sidewalks, street lightsMonthly HOA feeAssociation fees cover cable TV, insurance, grounds maintenance, security, sewer, trash, water and common areasSenior communityPets allowed with restrictions (cats only, number limit; pet restrictions possible)

Exterior

• Parking: Assigned parkingGuest parking
• Security: Closed-circuit camerasFire alarmSmoke detectorsSecurity lightsSecurity systemEntry phone/intercomSecurity patrol
• Utilities: Public waterPublic sewerThree-phase electricCable availableSewer availableWater available
• Home design: CondominiumResale property4-story buildingFaces east
• Construction: CBS constructionOther roof typeBuilt as part of a multi-story building
• Exterior features: Covered patioScreened patioPatioCabanaSidewalksPublic road frontageNot waterfront

Interior

• Kitchen: DishwasherElectric rangeRefrigerator
• Bedrooms: 1 bedroom on the main level
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom1 half bathroom
• Heating & cooling: Central individual electric heatingCentral individual electric coolingCeiling fan(s)
• Interior features: Entrance foyerWalk-in closet(s)
• Laundry & utility: Laundry closet insideElectric water heater

Price history

-95.5% since first listed

15 events — show timeline

• 2026-04-09 Listed for Rent $1,450 RMLSFL
• 2026-04-09 Rental Removed $1,450 GFLMLS
• 2026-04-01 Listed for Rent $1,450 GFLMLS
• 2026-03-31 Rental Removed $1,450 RMLSFL
• 2026-03-05 Price Changed $1,450 RMLSFL
• 2026-02-23 Price Changed $99,900 Beaches MLS
• 2026-02-20 Price Changed $118,001 Beaches MLS
• 2026-01-02 Price Changed $118,777 Beaches MLS
• 2025-12-28 Listed for Rent $1,500 RMLSFL
• 2025-12-15 Price Changed $119,222 Beaches MLS
• 2025-11-14 Price Changed $119,777 Beaches MLS
• 2025-10-05 Price Changed $119,222 Beaches MLS
• 2025-08-27 Listed $119,777 Beaches MLS
• 2012-08-23 Sold (Public Records) $39,900 Public Records
• 1992-05-27 Sold (Public Records) $32,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $1,741 · -0.9% YoY. Source: county tax records.