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11196 Mandalay Way
Score
0
Boynton Beach, FL

11196 Mandalay Way

544K
3 bd • 2 ba • 2,097 sf

This analysis was generated 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detailed information on its features, utilities, and systems, which raises concerns about potential hidden issues or outdated amenities.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.

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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

Property History

Price History
Ownership Timeline
$0Cash Purchase
Sep 7, 2010
Mildred F KamhiMildred F Kamhi, Alan Kamhi
Intrafamily Transfer
Non-Arm's Length Transactions
$219,700Financed
Jan 1, 1970
G L Homes Of Boynton Beach Assoc IvJulius B Kamhi, Mildred Kamhi
Deed
Standard Sale (Purchase/Resales)

Sunlight Analysis

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Sunlight Analysis

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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.

Cost & Affordability

Monthly Costs

Breakdown of estimated monthly expenses for this property

Monthly Payment
$0
* Estimated at 1% of home value annually. Actual costs may vary.
Not Included in Estimate
• Utilities (electricity, gas, water, internet)
• Home improvements and upgrades
• Landscaping and yard maintenance
• Pest control and home services
• Emergency repairs and replacements

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$544 monthly
$83 monthly

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Schools

Hagen Road Elementary School

Public•Grades PK-5
7/10
Elementary
762 students

Boynton Beach Community High School

Public•Grades 9-12
2/10
High
1,691 students

Odyssey Middle School

Public•Grades 6-8
0/10
Middle
689 students

Financials

Monthly Costs
Market Rent (3 bed)

$2,770

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Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Subject Property

Price
$544,200
Price/sqft
$260
Layout
3 bd•2 ba

Stats in the Area

Based on 6 comparable properties nearby

Average Price

$497,500

9.4%

Your price is 9.4% above average

Median Price

$540,000

0.8%

Based on 6 recent sales

Price per Sq.Ft

$243

6.8%

Your price is 6.8% above average $/sqft

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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