6586 Southurst Ter #103 · Delray Beach, FL 33446

$100,000

2 bd · 2.0 ba · 1,040 sqft · Condo public records · 28 Days on market

Built 1986 $718/mo HOA · 28% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

FANTASTIC 2 BEDROOM 2 BATH 1ST FLOOR CONDO IN INTERNATIONAL CLUB! WASHER AND DRYER IN UNIT. WALK TO COMM POOL, SHOPS, RESTAURANTS, & FULL USE OF HUNTINGTON LAKES CLUBHOUSE!GREAT LOCATION CONVENIENT TO EVERYTHING! SELLER CONTRIBUTION REQUEST ABOVE 3% MUST INCLUDE GFE. SELLER ADDENDUMS REQUIRED UPON ACCEPTANCE & ESCROW DEPOSIT WILL BE HELD BY SELLERS TITLE AGENT. TAKE ADVANAGE OF SELLERS INCENTIVES. SEE ATTACHMENT FOR OFFER SUBMISSION. THIS IS A HOMESTEPS PROPERTY. First Look period Expires 08/09/2012

Key facts

• Screened patio
• Updated water heater
• Updated a/c

Tags

• FIRST-FLOOR CONVENIENCE
• PEACEFUL GARDEN VIEWS
• UPDATED A/C
• UPDATED WATER HEATER
• SCREENED PATIO
• RESORT-STYLE AMENITIES

Property features AI

Finance

• Financial info: Pets not allowed; Monthly association fee
• HOA & community: Association with monthly fee; Association amenities include clubhouse, fitness center, game room, laundry, pool, sauna, spa/hot tub, tennis courts, workshop area, courtesy bus, and library; HOA pays for cable TV, insurance, grounds maintenance, water, and common area maintenance

Exterior

• Parking: Assigned parking; Guest parking; 1 parking space total
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available; Electricity available
• Home design: Condominium; Multi/split levels; 2 total stories; Faces south; Resale condition
• Construction: Built with CBS construction materials; Concrete and tile roof
• Exterior features: Covered patio; Screened patio; Patio with glass-enclosed area; Not waterfront

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Tile; Wood
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans; Electric cooling; Humidity control
• Interior features: Entrance foyer; Walk-in closets; Split bedroom layout; Partially furnished
• Laundry & utility: Laundry closet inside unit; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#202 in FL, #3,160 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, commute A-; Watch: cost of living C-, crime D-, amenities 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: Hagen Road Elementary School (math 55% / reading 63%, grade B-, #722 of 2,144 statewide, top 34%, 773 students, 46% FRL); Spanish River Community High School (math 64% / reading 74%, grade B, #63 of 667 statewide, top 10%, 2,578 students, 25% FRL) — zoned schools average 35% FRL vs 52% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 64% at this address vs 50% district-wide (+14 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 flat; 577 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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).

Forward outlook

• In year one you build about $1k of equity ($691 loan paydown + $687 appreciation (0.7% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.7% appreciation + 0.5% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $100k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,500 (1.5% 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. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. 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?
6. 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.
7. 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.
8. 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: 2.56% ✓
• Cap rate: 12.94%
• Cash-on-cash: 23.75%
• DSCR: 2.06
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.69% appreciation · 0.51% rent growth · sell at horizon

5-year hold

• IRR: 22.0%
• Equity multiple: 2.07×
• Total profit: $29,892
• Equity at exit: $32,518

10-year hold

• IRR: 22.8%
• Equity multiple: 3.36×
• Total profit: $66,046
• Equity at exit: $41,988

Cash invested: $28,000 (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 33446

• Home prices YoY: 0.3%
• Rents YoY: 0.5%
• Active inventory: 577
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $2,563 high
• Mortgage (P&I): −$524
• Tax from tax record: −$187 /mo · $2,239/yr
• Insurance: −$42
• HOA: −$718
• Vacancy / Maint / Mgmt: −$538
• Net cashflow: $554

Break-even live

Break-even rent $1,862

Max offer price $100,000

Occupancy floor 73%

Sensitivity live

Price	-10% $611	-5% $582	+0% $554	+5% $526	+10% $498
Rent	-10% $352	-5% $453	+0% $554	+5% $655	+10% $757
Rate	-1.0pp $604	-0.5pp $580	base $554	+0.5pp $528	+1.0pp $502

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14895 Builtmore Way Delray Beach, FL	2.0	2.0	1103	$1,800	$1.63	25d	1	0.02mi
14898 Wedgefield Dr #202 Delray Beach, FL	2.0	2.0	1103	$2,000	$1.81	18d	1	0.02mi
14896 Bal Moral Ln Delray Beach, FL	2.0	2.0	1040	$2,200	$2.12	25d	1	0.09mi
14723 Cumberland Dr Unit 404 B Delray Beach, FL	1.0	2.0	912	$1,850	$2.03	25d	1	0.17mi
15035 Michelangelo Blvd #103 Delray Beach, FL	2.0	2.0	1079	$2,000	$1.85	25d	1	0.22mi
14747 Cumberland Dr #301 Delray Beach, FL	2.0	2.0	1044	$1,900	$1.82	25d	1	0.22mi
15015 Michelangelo Blvd #102 Delray Beach, FL	3.0	2.0	1238	$2,499	$2.02	4d	1	0.23mi
15015 Michelangelo Blvd #102 Delray Beach, FL	3.0	2.0	1238	$2,499	$2.02	25d	1	0.23mi
7260 Kinghurst Dr #205 Delray Beach, FL	2.0	2.0	1230	$2,800	$2.28	19d	1	0.23mi
15055 Michelangelo Blvd #208 Delray Beach, FL	3.0	2.0	1238	$2,500	$2.02	0d	1	0.24mi
15055 Michelangelo Blvd Delray Beach, FL	2.0–3.0	2.0	1158	$2,125	$1.83	22d	2	0.25mi
15065 Michelangelo Blvd #105 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	22d	1	0.25mi
15065 Michelangelo Blvd #105 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	3d	1	0.25mi
7515 S Oriole Blvd Delray Beach, FL	2.0	2.0	850	$1,700	$2.00	25d	1	0.25mi
15005 Michelangelo Blvd Delray Beach, FL	2.0–3.0	2.0	1234	$2,050	$1.66	0d	21	0.28mi
14 Willowbrook Ln #101 Delray Beach, FL	2.0	2.0	1005	$1,700	$1.69	6d	1	0.28mi
15085 Michelangelo Blvd #202 Delray Beach, FL	3.0	2.0	1238	$2,700	$2.18	22d	1	0.31mi
14800 Cumberland Dr Delray Beach, FL	2.0	2.0	1321	$3,948	$2.99	0d	3	0.32mi
7350 Kinghurst Dr #305 Delray Beach, FL	2.0	2.0	1220	$4,500	$3.69	0d	1	0.33mi
7350 Kinghurst Dr #305 Delray Beach, FL	2.0	2.0	1220	$4,500	$3.69	22d	1	0.33mi
7350 Kinghurst Dr Delray Beach, FL	2.0	2.0	1220	$4,500	$3.69	16d	1	0.33mi
10 Willowbrook Ln #105 Delray Beach, FL	2.0	2.0	1005	$2,100	$2.09	11d	1	0.33mi
14828 Golden Jax Ln Unit 6-105 Radiance Delray Beach, FL	2.0	2.0	1321	$4,148	$3.14	17d	1	0.36mi
14828 Golden Jax Ln Unit 8103 Delray Beach, FL	2.0	2.0	1321	$3,949	$2.99	5d	1	0.36mi
14828 Golden Jax Ln Unit 8-105 Radiance Delray Beach, FL	2.0	2.0	1321	$3,948	$2.99	15d	1	0.36mi
14509 Sloan Ridge Dr Unit 10-104 Luminosa Delray Beach, FL	3.0	2.0	1328	$3,827	$2.88	25d	1	0.36mi
15155 Michelangelo Blvd Delray Beach, FL	2.0	2.0	1079	$2,288	$2.12	8d	2	0.36mi
15155 Michelangelo Blvd #106 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	21d	1	0.36mi
15155 Michelangelo Blvd #106 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	25d	1	0.36mi
20 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,600	$2.81	25d	1	0.38mi
7310 Ashford Pl Delray Beach, FL	2.0	2.0	1230	$2,700	$2.20	19d	2	0.39mi
7310 Ashford Pl Delray Beach, FL	2.0	2.0	1230	$3,200	$2.60	8d	1	0.39mi
7310 Ashford Pl Delray Beach, FL	2.0	2.0	1230	$3,200	$2.60	16d	1	0.39mi
15145 Michelangelo Blvd #102 Delray Beach, FL	3.0	2.0	1238	$2,600	$2.10	0d	1	0.40mi
15145 Michelangelo Blvd #102 Delray Beach, FL	3.0	2.0	1238	$2,600	$2.10	25d	1	0.40mi
15145 Michelangelo Blvd #102 Delray Beach, FL	3.0	2.0	1238	$2,600	$2.10	3d	1	0.40mi
7512 Eagle Point Dr Unit 7512 Delray Beach, FL	3.0	2.0	1463	$4,000	$2.73	19d	1	0.40mi
7512 Eagle Point Dr Delray Beach, FL	3.0	2.0	1461	$4,000	$2.74	0d	1	0.40mi
7512 Eagle Point Dr Delray Beach, FL	3.0	2.0	1463	$4,000	$2.73	4d	1	0.40mi
19 Abbey Ln #206 Delray Beach, FL	2.0	2.0	925	$1,750	$1.89	25d	1	0.40mi

HOA detail condo

• Monthly dues: $718 · $8,616/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $100,000 Active 28 DOM
2. 2026-06-17
   days on market $100,000 Active 27 DOM
3. 2026-06-16
   days on market $100,000 Active 26 DOM
4. 2026-06-15
   days on market $100,000 Active 25 DOM
5. 2026-06-13
   days on market $100,000 Active 23 DOM
6. 2026-06-09
   days on market $100,000 Active 19 DOM
7. 2026-06-08
   days on market $100,000 Active 18 DOM
8. 2026-06-07
   days on market $100,000 Active 17 DOM
9. 2026-06-04
   pricedays on market $100,000 Active 14 DOM
10. 2026-06-03
    days on market $110,000 Active 13 DOM
11. 2026-06-02
    days on market $110,000 Active 12 DOM
12. 2026-06-01
    days on market $110,000 Active 11 DOM
13. 2026-05-31
    days on market $110,000 Active 10 DOM
14. 2026-05-21
    listed $110,000 Active
15. 2012-10-15
    soldstatus $35,000 517-char remark

    Show marketing remark (517 chars)

    FANTASTIC 2 BEDROOM 2 BATH 1ST FLOOR CONDO IN INTERNATIONAL CLUB! WASHER AND DRYER IN UNIT. WALK TO COMM POOL, SHOPS, RESTAURANTS, & FULL USE OF HUNTINGTON LAKES CLUBHOUSE!GREAT LOCATION CONVENIENT TO EVERYTHING! SELLER CONTRIBUTION REQUEST ABOVE 3% MUST INCLUDE GFE. SELLER ADDENDUMS REQUIRED UPON ACCEPTANCE & ESCROW DEPOSIT WILL BE HELD BY SELLERS TITLE AGENT. TAKE ADVANAGE OF SELLERS INCENTIVES. SEE ATTACHMENT FOR OFFER SUBMISSION. THIS IS A HOMESTEPS PROPERTY. First Look period Expires 08/09/2012

16. 2007-07-02
    soldstatus $120,000
17. 2006-03-05
    historical
18. 2006-01-19
    listed $174,900
19. 2006-01-09
    historical
20. 2005-09-19
    listed $179,000
21. 2003-05-05
    soldstatus $70,000
22. 2003-03-31
    soldstatus $70,000
23. 2003-03-26
    historical
24. 2003-02-23
    listed $79,900

ⓘ 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: $2,239 · $187/mo
• Projected year-2 tax: $2,239 · $187/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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 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: $30,757
• − Mortgage interest: −$5,602
• − Property taxes: −$2,239
• − Insurance: −$500
• − Repairs & maintenance: −$2,461
• − Management: −$2,461
• − HOA: −$8,616
• − Depreciation: −$2,909
• Taxable income: $5,970
• Est. tax owed @ 24.0%: −$1,433
• After-tax cash flow: $5,217/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 — Delray Beach

• Score: 77/100
• State rank: #202
• US rank: #3160

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• City population: 123,167
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 28,431
• Household income: $80,187
• Rent vs Own: 11.4% rent · 88.6% own
• Severe rent burden: 494.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 13% Two or more races 9% Black 4%
• Hispanic origin (detail): Puerto Rican 3% Dominican 1%
• Common ancestry: Romanian 9% Scotch-Irish 9% Italian 2%
• Foreign-born: 20% · Canada, Jamaica, Guatemala
• Languages at home: 80% English-only · Spanish 12% Other Indo-European 2% French/Haitian/Cajun 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: ▲ 0.69%
• Current HPI: 242.5138
• Rent YoY: ▲ 0.51%
• 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

+37.7% since first listed

11 events — show timeline

• 2026-05-21 Listed $110,000 Beaches MLS
• 2012-10-15 Sold (MLS) $35,000 MARMLS
• 2007-07-02 Sold (Public Records) $120,000 Public Records
• 2006-03-05 Listing Removed — Beaches MLS
• 2006-01-19 Listed $174,900 Beaches MLS
• 2006-01-09 Listing Removed — Beaches MLS
• 2005-09-19 Listed $179,000 Beaches MLS
• 2003-05-05 Sold (Public Records) $70,000 Public Records
• 2003-03-31 Sold (MLS) $70,000 Beaches MLS
• 2003-03-26 Listing Removed — Beaches MLS
• 2003-02-23 Listed $79,900 Beaches MLS

Property tax history

+6.8%/yr

Latest (2025): $2,239 · +4.6% YoY. Source: county tax records.