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11196 Mandalay Way
Boynton Beach, FL

11196 Mandalay Way

$544,200
3 bd • 2 ba • 2,097 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$544,200

Price/Sq.Ft

$260

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

The property at 11196 Mandalay Way boasts a spacious 2,097 sqft layout, which is approximately 40% larger than the average 3-bedroom home in Boynton Beach (1,500 sqft). At $259.51/sqft, it's priced 15% below the area average of $305/sqft, suggesting good value. The location appears to be in a well-planned community with ample water features, potentially offering scenic views and recreational opportunities. The aerial image shows proximity to a golf course (visible in the bottom right), adding to its appeal for golf enthusiasts. The property's 3 bed/2 bath configuration aligns well with the highest rental demand in the area, as evidenced by the $2,770 average rent for 3-bedroom homes.

The Bad

The property lacks detailed information on its features, utilities, and systems, which raises concerns about potential hidden issues or outdated amenities. The year built is unknown, which could indicate an older property requiring significant updates or maintenance. The aerial view suggests a densely packed neighborhood, which may lead to privacy concerns and potential noise issues. The $544,200 price point, while competitive on a per-square-foot basis, is still 8.2 times the median income of $66,272, potentially limiting the pool of qualified buyers.

The Ugly

The area's susceptibility to hurricanes and flooding presents significant risks. Insurance costs could be substantially higher than average, potentially adding $3,000-$5,000 annually to ownership costs. The dense layout of water features surrounding the homes suggests a high water table, which could lead to foundation issues or increased flood risk. Long-term climate change and sea-level rise pose existential threats to property values in this low-lying area. The community's reliance on HOAs (evident from the uniform appearance) could lead to unexpected special assessments or restrictive rules.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is best suited for buyers with household incomes of $150,000+ (based on a 28% front-end DTI ratio for a $435,360 mortgage at 6% interest). It's ideal for families or couples who need extra space and appreciate water views. Golf enthusiasts will value the proximity to the course. Investors could potentially earn a 6.1% gross yield based on the average 3-bedroom rental rate, making it attractive for long-term rental strategies. The property could also appeal to out-of-state buyers looking for a spacious winter home in a planned community.

Not For

This property is not suitable for first-time homebuyers or those with incomes below $150,000 due to the high purchase price and potential for additional costs. It's not ideal for those seeking a low-maintenance lifestyle, as the water features and potential for storm damage may require ongoing attention. Buyers with mobility issues should be cautious, as the multi-level homes visible in the image suggest stairs may be a common feature. Those highly concerned about climate change and long-term property appreciation in flood-prone areas should look elsewhere.
Demographics
Area Median Income

$66,272

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Risk Assessment

Risk Analysis

Hurricane risk is a major concern, with potential for severe damage and evacuations. Flood risk is high due to the low-lying area and numerous water features, potentially leading to property damage and increasing insurance costs. The dense community layout could lead to parking issues and traffic congestion. Property values may be vulnerable to climate change impacts, potentially affecting long-term appreciation. The unknown build year raises concerns about potential systemic issues (plumbing, electrical, structural) that could require costly repairs. The community's uniformity suggests strict HOA regulations, which could limit property alterations and lead to assessment risks.

Financials

Monthly Costs
Market Rent (3 bed)

$2,770

Get a detailed rental estimate on Zillow®

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$497,500

-8.6% below list price

Median Price

$540,000

Based on 6 recent sales

Price per Sq.Ft

$243

Comparable Properties

11302 Kona Court, Boynton Beach, FL 33437
Price: $550,000
Sq.Ft: 2,327
Beds/Baths: 3/2
$/Sq.Ft:
$2368.9%
Sale Date: 11/23/2024
11610 Briarwood 4 Circle #4, Boynton Beach, FL 33437
Price: $520,000
Sq.Ft: 2,227
Beds/Baths: 3/2
$/Sq.Ft:
$23310.0%
Sale Date: 10/15/2024
7137 Haviland Circle, Boynton Beach, FL 33437
Price: $555,000
Sq.Ft: 1,918
Beds/Baths: 3/2
$/Sq.Ft:
$28911.5%
Sale Date: 10/15/2024
10434 Utopia Circle E, Boynton Beach, FL 33437
Price: $505,000
Sq.Ft: 2,172
Beds/Baths: 3/2
$/Sq.Ft:
$23310.4%
Sale Date: 9/24/2024
10622 Silverton Lane, Boynton Beach, FL 33437
Price: $540,000
Sq.Ft: 1,782
Beds/Baths: 3/2
$/Sq.Ft:
$30316.8%
Sale Date: 10/27/2024
11738 Briarwood Circle #4, Boynton Beach, FL 33437
Price: $315,000
Sq.Ft: 1,952
Beds/Baths: 3/2
$/Sq.Ft:
$16137.8%
Sale Date: 9/16/2024

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