1117 Lake Ter #105 · Boynton Beach, FL 33426

$109,000

1 bd · 1.0 ba · 675 sqft · Condo public records · 445 Days on market

Built 1973 $472/mo HOA · 24% 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 +26.8/30.0
• 1% rule +10.0/10.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great first floor large one bedroom one bath condo which allow a small pet. Kitchen has been remodeled and newer bathroom. Wood laminate and carpet. Furniture is for sale.

Key facts

• Newer flooring
• Private backyard
• Accordion shutters

Tags

• FIRST FLOOR UNIT
• PRIVATE BACKYARD
• ACCORDION SHUTTERS
• NEWER FLOORING

Property features AI

Finance

• HOA & community: Monthly association fee of $472; Association covers sewer, trash and water; Community amenities include clubhouse, pool, and shuffleboard court; Senior community; Pets allowed (with number and size limits)

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer; Sewer and water available
• Home design: Condominium; Single-story; Faces east; Resale property
• Construction: CBS construction; Built on a CBS foundation
• Exterior features: Open patio; Patio; Porch; Entry-level living area; Not waterfront

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 1 bedroom on the main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Walk-in closet(s); Single-hung metal and sliding windows

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $109k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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.
• Zoned schools: Galaxy Elementary School (math 36% / reading 39%, grade F, #1,596 of 2,144 statewide, top 75%, 617 students, 87% FRL); Congress Community Middle School (math 21% / reading 28%, grade F, #522 of 571 statewide, top 93%, 988 students, 72% FRL); Boynton Beach Community High (math 13% / reading 25%, grade F, #565 of 667 statewide, top 85%, 1,547 students, 65% FRL) — zoned schools average 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 50% district-wide (-22 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 232 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $754 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 445 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y ago; this cycle's ask has dropped $16k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $86k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 445 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 1973 — 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. 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?
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: 1.82% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.68%
• DSCR: 1.52
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.93% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-2,444
• Equity at exit: $16,252

10-year hold

• IRR: 4.0%
• Equity multiple: 1.25×
• Total profit: $7,691
• Equity at exit: $9,424

Cash invested: $30,520 (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 33426

• Rents YoY: 0.9%
• Active inventory: 232
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,988 high
• Mortgage (P&I): −$572
• Tax from tax record: −$185 /mo · $2,216/yr
• Insurance: −$45
• HOA: −$472
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $297

Break-even live

Break-even rent $1,612

Max offer price $109,000

Occupancy floor 80%

Sensitivity live

Price	-10% $359	-5% $328	+0% $297	+5% $266	+10% $235
Rent	-10% $140	-5% $219	+0% $297	+5% $376	+10% $454
Rate	-1.0pp $352	-0.5pp $325	base $297	+0.5pp $269	+1.0pp $240

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1100 Audace Ave Boynton Beach, FL	1.0–3.0	1.0–2.0	1021	$2,329	$2.28	0d	23	0.79mi
4 Renaissance Way #302 Boynton Beach, FL	1.0	1.0	747	$1,945	$2.60	13d	1	1.02mi
2407 Renaissance Way Boynton Beach, FL	1.0	1.0	744	$1,950	$2.62	9d	1	1.09mi
1660 Renaissance Commons Blvd Boynton Beach, FL	1.0	1.0	798	$1,962	$2.46	1d	2	1.20mi
1690 Renaissance Commons Blvd Boynton Beach, FL	2.0–3.0	2.0	940	$2,300	$2.45	1d	3	1.20mi
430 NW 12th Ave Unit A Boynton Beach, FL	1.0	1.0	500	$2,195	$4.39	26d	1	1.38mi
115 SW 1st Ave Boynton Beach, FL	1.0–2.0	1.0–2.0	804	$1,875	$2.33	17d	2	1.44mi
408 NW 13th Ave Unit 2 Boynton Beach, FL	1.0	1.0	400	$1,375	$3.44	26d	1	1.45mi

HOA detail condo

• Monthly dues: $472 · $5,664/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-21
   days on market $109,000 Active 445 DOM
2. 2026-06-18
   days on market $109,000 Active 442 DOM
3. 2026-06-17
   days on market $109,000 Active 441 DOM
4. 2026-06-16
   days on market $109,000 Active 440 DOM
5. 2026-06-15
   days on market $109,000 Active 439 DOM
6. 2026-06-13
   days on market $109,000 Active 437 DOM
7. 2026-06-09
   days on market $109,000 Active 433 DOM
8. 2026-06-07
   days on market $109,000 Active 431 DOM
9. 2026-06-04
   days on market $109,000 Active 428 DOM
10. 2026-06-03
    days on market $109,000 Active 427 DOM
11. 2026-06-01
    days on market $109,000 Active 425 DOM
12. 2026-05-31
    days on market $109,000 Active 424 DOM
13. 2025-11-04
    price $109,000
14. 2025-05-08
    price $119,900
15. 2025-04-01
    listed $124,900 Active
16. 2024-05-31
    historical $1,450
17. 2024-04-30
    price $1,450
18. 2024-02-12
    listed $1,500
19. 2023-04-10
    soldstatus $86,000
20. 2016-05-06
    soldstatus $56,000
21. 2014-12-16
    soldstatus $28,500
22. 2014-11-26
    soldstatus $28,500 Closed 171-char remark

    Show marketing remark (171 chars)

    Great first floor large one bedroom one bath condo which allow a small pet. Kitchen has been remodeled and newer bathroom. Wood laminate and carpet. Furniture is for sale.

23. 2014-11-12
    historical Contingent 171-char remark

    Show marketing remark (171 chars)

    Great first floor large one bedroom one bath condo which allow a small pet. Kitchen has been remodeled and newer bathroom. Wood laminate and carpet. Furniture is for sale.

24. 2014-11-05
    listed $33,000 Active 171-char remark

    Show marketing remark (171 chars)

    Great first floor large one bedroom one bath condo which allow a small pet. Kitchen has been remodeled and newer bathroom. Wood laminate and carpet. Furniture is for sale.

25. 2010-01-11
    soldstatus $26,000
26. 2009-12-22
    soldstatus $26,000 306-char remark

    Show marketing remark (306 chars)

    Beautiful first floor one large bedroom, one bath condo with new refrigerator in 2009, new ac in 2009. Building allows small pet. Roof replaced on building 2009, Laundry steps away. assigned parking Flooring carpet and wood laminate. $$$$thousands in upgrades. New kitchen, flooring . .. .ready to move in.

27. 2009-11-30
    historical 306-char remark

    Show marketing remark (306 chars)

    Beautiful first floor one large bedroom, one bath condo with new refrigerator in 2009, new ac in 2009. Building allows small pet. Roof replaced on building 2009, Laundry steps away. assigned parking Flooring carpet and wood laminate. $$$$thousands in upgrades. New kitchen, flooring . .. .ready to move in.

28. 2009-09-06
    listed $27,000 306-char remark

    Show marketing remark (306 chars)

    Beautiful first floor one large bedroom, one bath condo with new refrigerator in 2009, new ac in 2009. Building allows small pet. Roof replaced on building 2009, Laundry steps away. assigned parking Flooring carpet and wood laminate. $$$$thousands in upgrades. New kitchen, flooring . .. .ready to move in.

29. 2001-05-02
    soldstatus $15,000
30. 2001-04-10
    soldstatus $15,000
31. 2001-03-27
    historical
32. 2001-03-16
    listed $20,000

ⓘ 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: $2,216 · $185/mo
• Projected year-2 tax: $2,216 · $185/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥105°F today · 22 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: $23,861
• − Mortgage interest: −$6,106
• − Property taxes: −$2,216
• − Insurance: −$545
• − Repairs & maintenance: −$1,909
• − Management: −$1,909
• − HOA: −$5,664
• − Depreciation: −$3,171
• Taxable income: $2,342
• Est. tax owed @ 24.0%: −$562
• After-tax cash flow: $3,004/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
• City population: 148,060
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 24,255
• Household income: $74,223
• Rent vs Own: 36.7% rent · 63.3% own
• Severe rent burden: 1417.0

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 0.66)
• Race & ethnicity: White 51% Black 23% Hispanic / Latino 17% Two or more races 14% Asian 4%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2%
• Common ancestry: Hispanic 9% Romanian 2% Lithuanian 2%
• Foreign-born: 29% · Canada, Jamaica, Vietnam
• Languages at home: 66% English-only · Spanish 16% French/Haitian/Cajun 11% Other Indo-European 5%

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: ▼ -205.96%
• Current HPI: 335.3805
• Rent YoY: ▲ 0.93%
• 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

+445.0% since first listed

20 events — show timeline

• 2025-11-04 Price Changed $109,000 Beaches MLS
• 2025-05-08 Price Changed $119,900 Beaches MLS
• 2025-04-01 Listed $124,900 Beaches MLS
• 2024-05-31 Rental Removed $1,450 Avail
• 2024-04-30 Price Changed $1,450 Avail
• 2024-02-12 Listed for Rent $1,500 Avail
• 2023-04-10 Sold (Public Records) $86,000 Public Records
• 2016-05-06 Sold (Public Records) $56,000 Public Records
• 2014-12-16 Sold (Public Records) $28,500 Public Records
• 2014-11-26 Sold (MLS) $28,500 Beaches MLS
• 2014-11-12 Contingent — Beaches MLS
• 2014-11-05 Listed $33,000 Beaches MLS
• 2010-01-11 Sold (Public Records) $26,000 Public Records
• 2009-12-22 Sold (MLS) $26,000 Beaches MLS
• 2009-11-30 Listing Removed — Beaches MLS
• 2009-09-06 Listed $27,000 Beaches MLS
• 2001-05-02 Sold (Public Records) $15,000 Public Records
• 2001-04-10 Sold (MLS) $15,000 Beaches MLS
• 2001-03-27 Listing Removed — Beaches MLS
• 2001-03-16 Listed $20,000 Beaches MLS

Property tax history

+17.7%/yr

Latest (2025): $2,216 · -4.2% YoY. Source: county tax records.