284 Flanders F · Delray Beach, FL 33484

$134,900

2 bd · 2.0 ba · 988 sqft · Condo public records · 66 Days on market

Built 1974 $787/mo HOA · 41% of rent

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Why this score? — see what drove the D 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).

• 1% rule +9.3/10.0
• Cash flow +7.7/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Step into this completely renovated, super bright, well-maintained, freshly painted, move-in ready residence in the highly desirable Kings Point community, offering modern elegance and effortless living in this stunning 2-bedroom, 2-bath condo. Thoughtfully redesigned with high-end finishes throughout, the open-concept kitchen features sleek quartz countertops, brand-new white shaker cabinetry, and all-new stainless steel appliances, perfect for both entertaining and everyday living. Luxury waterproof laminate flooring flows seamlessly through the main living areas, complemented by all-new recessed lighting, updated fixtures, modern ceiling fans, and smooth ceilings with no popcorn. Both ba

Key facts

• Quartz countertops
• Renovated residence
• Open-concept kitchen

Tags

• RENOVATED RESIDENCE
• OPEN-CONCEPT KITCHEN
• QUARTZ COUNTERTOPS
• WHITE SHAKER CABINETRY
• STAINLESS STEEL APPLIANCES
• WATERPROOF LAMINATE FLOORING

Property features AI

Finance

• Financial info: Has association (monthly HOA fee listed)
• HOA & community: Association with many amenities including clubhouse, fitness center, pool, indoor pool, spa/hot tub, tennis courts, pickleball and shuffleboard courts, bocce, putting green, golf course, billiard and game rooms, library, courtesy bus, manager on site and security; Monthly HOA fee; HOA covers cable TV, insurance, grounds maintenance, security, trash, common areas, reserves, roof repairs, recreation facilities and pool service; Pets allowed (restrictions may apply); Community is a senior community; Community contains a large number of units

Exterior

• Parking: Assigned parking; Guest parking; Open parking (1 total)
• Security: Gated community with guard; Security patrol
• Utilities: Public water; Public sewer; Cable available; Electricity available
• Home design: Condominium; Resale condition; Faces north; 2 total stories; Entry level living area on main level
• Construction: Pre-fab construction; Built-up roof; Approximate building area 988 (owner source)
• Exterior features: Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans
• Interior features: Walk-in closet(s)
• Laundry & utility: Washer hookup; Electric dryer hookup; Outdoor laundry location

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $-156 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $107k (20.4% below list).
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $107k (20.4% below list) — sets the bar for cash-flow.

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: Orchard View Elementary School (math 48% / reading 47%, grade D, #1,182 of 2,144 statewide, top 55%, 596 students, 76% 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 at 50% FRL track the district average.
• Market conditions: Rents rising fast (+4.3%/yr); 546 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 37% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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 66 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y ago; this cycle's ask is 8076% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $110k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 41% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $107,380 (20.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 1.43% ✓
• Cap rate: 4.91%
• Cash-on-cash: -4.95%
• DSCR: 0.78
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.28% rent growth · sell at horizon

5-year hold

• IRR: -21.5%
• Equity multiple: 0.24×
• Total profit: $-28,779
• Equity at exit: $20,114

10-year hold

• IRR: -9.8%
• Equity multiple: 0.33×
• Total profit: $-25,263
• Equity at exit: $11,664

Cash invested: $37,772 (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 33484

• Rents YoY: 4.3%
• Active inventory: 546
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,928 high
• Mortgage (P&I): −$707
• Tax from tax record: −$128 /mo · $1,540/yr
• Insurance: −$56
• HOA: −$787
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $-156

Break-even live

Break-even rent $2,125

Max offer price $107,380

Occupancy floor —

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
811 Flanders Q Delray Beach, FL	2.0	2.0	920	$1,700	$1.85	13d	1	0.02mi
811 Flanders Q Delray Beach, FL	2.0	2.0	920	$1,700	$1.85	3d	1	0.02mi
960 Flanders T Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	24d	1	0.07mi
205 Flanders Dr Unit 205 Delray Beach, FL	2.0	2.0	883	$1,750	$1.98	24d	1	0.14mi
177 Flanders Dr Unit 177 Delray Beach, FL	2.0	2.0	920	$1,600	$1.74	24d	1	0.15mi
697 Flanders O Delray Beach, FL	1.0	1.5	760	$1,400	$1.84	1d	1	0.15mi
173 Flanders Dr Unit 173 Delray Beach, FL	2.0	2.0	920	$2,400	$2.61	24d	1	0.15mi
278 Flanders Dr Unit 278 Delray Beach, FL	1.0	1.5	828	$1,290	$1.56	24d	1	0.15mi
457 Flanders Dr Unit 457 Delray Beach, FL	1.0	1.5	760	$2,800	$3.68	24d	1	0.15mi
719 Flanders O Delray Beach, FL	2.0	2.0	920	$1,800	$1.96	24d	1	0.22mi
166 Piedmont Way Delray Beach, FL	2.0	2.0	910	$1,600	$1.76	24d	1	0.23mi
177 Flanders D Delray Beach, FL	2.0	2.0	920	$1,600	$1.74	24d	1	0.24mi
556 Capri L Unit L Delray Beach, FL	2.0	2.0	910	$1,575	$1.73	24d	1	0.24mi
137 Piedmont Way Unit 137 Delray Beach, FL	2.0	2.0	1040	$2,300	$2.21	10d	1	0.24mi
560 Capri Ln Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	24d	1	0.26mi
98 Capri C Delray Beach, FL	1.0	1.5	795	$1,695	$2.13	24d	1	0.27mi
207 Capri E #207 Delray Beach, FL	2.0	2.0	910	$1,700	$1.87	7d	1	0.27mi
523 Piedmont E Unit 523 Delray Beach, FL	2.0	2.0	1044	$1,750	$1.68	24d	1	0.27mi
176 Piedmont D Delray Beach, FL	2.0	2.0	910	$1,600	$1.76	24d	1	0.29mi
522 Capri K Unit K Delray Beach, FL	1.0	1.5	730	$1,350	$1.85	24d	1	0.29mi
115 Capri B Unit 115 Delray Beach, FL	2.0	2.0	1044	$2,000	$1.92	24d	1	0.31mi
66 Capri B Unit B Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	14d	1	0.32mi
344 Piedmont Trl Delray Beach, FL	2.0	2.0	910	$1,600	$1.76	24d	1	0.32mi
341 Piedmont H Unit H Delray Beach, FL	2.0	2.0	907	$1,650	$1.82	13d	1	0.32mi
499 Piedmont K Delray Beach, FL	2.0	2.0	907	$2,800	$3.09	24d	1	0.32mi
224 Piedmont F #224 Delray Beach, FL	1.0	1.5	760	$1,200	$1.58	24d	1	0.32mi
974 Normandy Trl #974 Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	24d	1	0.33mi
322 Piedmont G Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	13d	1	0.33mi
322 Piedmont G Delray Beach, FL	2.0	2.0	910	$1,800	$1.98	7d	1	0.33mi
514 Piedmont K Delray Beach, FL	1.0	1.5	792	$1,690	$2.13	24d	1	0.33mi
514 Piedmont K Unit k Delray Beach, FL	1.0	1.5	792	$1,690	$2.13	3d	1	0.33mi
794 Normandy Q Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	16d	1	0.34mi
127 Flanders C Delray Beach, FL	1.0	1.5	760	$1,550	$2.04	24d	1	0.35mi
66 Capri B #66 Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	18d	1	0.36mi
509 Capri Dr Unit 509 Delray Beach, FL	2.0	2.0	910	$2,500	$2.75	1d	1	0.36mi
507 Capri Dr Delray Beach, FL	2.0	2.0	910	$2,200	$2.42	24d	1	0.36mi
468 Capri J Delray Beach, FL	2.0	2.0	910	$1,400	$1.54	24d	1	0.36mi
370 Piedmont Trl Unit 370 Delray Beach, FL	1.0	2.0	760	$1,700	$2.24	24d	1	0.37mi
492 Piedmont Ct Delray Beach, FL	2.0	2.0	1040	$2,200	$2.12	24d	1	0.37mi
120 Normandy C Delray Beach, FL	1.0	1.5	760	$1,495	$1.97	7d	1	0.38mi

HOA detail condo

• Monthly dues: $787 · $9,444/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $134,900 Active 66 DOM
2. 2026-06-17
   days on market $134,900 Active 65 DOM
3. 2026-06-16
   days on market $134,900 Active 64 DOM
4. 2026-06-15
   days on market $134,900 Active 63 DOM
5. 2026-06-13
   days on market $134,900 Active 61 DOM
6. 2026-06-09
   days on market $134,900 Active 57 DOM
7. 2026-06-08
   days on market $134,900 Active 56 DOM
8. 2026-06-07
   days on market $134,900 Active 55 DOM
9. 2026-06-04
   days on market $134,900 Active 52 DOM
10. 2026-06-03
    days on market $134,900 Active 51 DOM
11. 2026-06-02
    days on market $134,900 Active 50 DOM
12. 2026-06-01
    days on market $134,900 Active 49 DOM
13. 2026-05-31
    days on market $134,900 Active 48 DOM
14. 2026-04-23
    historical $1,650
15. 2026-04-12
    listed $1,650
16. 2026-04-10
    listed $134,900 Active
17. 2026-03-27
    historical
18. 2026-02-27
    listed $145,000 Active
19. 2026-02-08
    historical
20. 2025-09-08
    price $150,000
21. 2025-06-12
    listed $160,000 Active
22. 2025-01-16
    historical
23. 2024-11-18
    price $189,000
24. 2024-08-11
    listed $199,000 Active
25. 2023-07-28
    soldstatus $110,000
26. 2003-06-23
    historical
27. 2003-01-14
    listed $43,900

ⓘ 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: $1,540 · $128/mo
• Projected year-2 tax: $1,540 · $128/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 · 26 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: $23,137
• − Mortgage interest: −$7,556
• − Property taxes: −$1,540
• − Insurance: −$674
• − Repairs & maintenance: −$1,851
• − Management: −$1,851
• − HOA: −$9,444
• − Depreciation: −$3,924
• Taxable loss: −$3,704
• Est. tax savings @ 24.0%: +$889
• After-tax cash flow: $-980/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): 26,208
• Household income: $62,151
• Rent vs Own: 19.0% rent · 81.0% own
• Severe rent burden: 991.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 10% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Scotch-Irish 7% Romanian 6% Italian 2%
• Foreign-born: 23% · Canada, Jamaica, China
• Languages at home: 76% English-only · Spanish 13% Russian/Polish/Slavic 3% French/Haitian/Cajun 3%

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: ▼ -232.73%
• Current HPI: 254.5016
• Rent YoY: ▲ 4.28%
• 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

-96.2% since first listed

14 events — show timeline

• 2026-04-23 Rental Removed $1,650 GFLMLS
• 2026-04-12 Listed for Rent $1,650 GFLMLS
• 2026-04-10 Listed $134,900 Beaches MLS
• 2026-03-27 Listing Removed — Beaches MLS
• 2026-02-27 Listed $145,000 Beaches MLS
• 2026-02-08 Listing Removed — Beaches MLS
• 2025-09-08 Price Changed $150,000 Beaches MLS
• 2025-06-12 Listed $160,000 Beaches MLS
• 2025-01-16 Listing Removed — Beaches MLS
• 2024-11-18 Price Changed $189,000 Beaches MLS
• 2024-08-11 Listed $199,000 Beaches MLS
• 2023-07-28 Sold (Public Records) $110,000 Public Records
• 2003-06-23 Listing Removed — Beaches MLS
• 2003-01-14 Listed $43,900 Beaches MLS

Property tax history

+8.9%/yr

Latest (2025): $1,540 · -23.1% YoY. Source: county tax records.