1042 North Dr Unit A · Delray Beach, FL 33445

$200,000

2 bd · 2.0 ba · 1,295 sqft · Condo public records · 13 Days on market

Built 1971 $591/mo HOA · 22% of rent

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Why this score? — see what drove the C- 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 +17.1/30.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

BEAUTIFUL 2 BEDROOM 2 BATH END UNIT VILLA FEATURING AN OPEN AND SPACIOUS FLOOR PLAN WITH ELEGANT TRAVERTINE FLOORING THROUGH OUT. THE UPGRADED KITCHEN BOASTS GRANITE COUNTERTOPS, QUALITY THOMASVILLE CABINETRY, AND AMPLE STORAGE MAKING IT PERFECT FOR BOTH EVERYDAY LIVING AND ENTERTAINING. THE PRIMARY SUITE INCLUDES A WALK IN CLOSET WITH WASHER MACHINE WHILE REAR OPEN PATIO OFFERS A GREAT SPACE TO RELAX OUTDOORS. ADDITIONAL UPDATES INCLUDE A NEWER ROOF 2018, A/C SYSTEM 2019 AND NEW ELECTRICAL PANEL FOR ADDED PEACE OF MIND. THIS DESIRABLE END UNIT PROVIDES EXTRA PRIVACY, NATURAL LIGHT, AND COMFORTABLE LIVING IN A WELL MAINTAINED SETTING. CLOSE TO DELRAY BEACH AREA FAMOUS FOR BEACH, SHOPPING AN

Key facts

• Upgraded kitchen
• Granite countertops
• Ample storage

Tags

• OPEN AND SPACIOUS FLOOR PLAN
• ELEGANT TRAVERTINE FLOORING
• UPGRADED KITCHEN
• GRANITE COUNTERTOPS
• QUALITY THOMASVILLE CABINETRY
• AMPLE STORAGE

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association fee includes amenities, common areas, cable TV, laundry, grounds maintenance, recreation facilities, trash, water; Association amenities: clubhouse, laundry, barbecue, picnic area, pool, shuffleboard court; Senior community

Exterior

• Parking: Guest parking; One designated parking space
• Utilities: Has cooling; Has heating
• Home design: Single-story; Resale construction; Attached property; Entry level 1
• Construction: Block construction
• Exterior features: Awning(s); Patio; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom (one secondary bedroom listed — 14 x 11)
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Breakfast bar; Built-in features; First floor entry / main living area on entry level; Living/dining room; Tub/shower; Walk-in closet(s); Unfurnished
• Laundry & utility: Washer; Electric water heater; Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $139 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Cap rate 7.1% vs local median 4.3% in Delray 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 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.
• Market conditions: Rents rising (+1.8%/yr); 357 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).
• This rent runs 41% of the median local income ($78k/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 $1k of loan paydown is wiped out by about $6k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 26y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $84k; list at $200k implies a 138% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,000

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.34% ✓
• Cap rate: 7.13%
• Cash-on-cash: 2.98%
• DSCR: 1.13
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.83% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.53×
• Total profit: $-26,275
• Equity at exit: $29,821

10-year hold

• IRR: -6.7%
• Equity multiple: 0.60×
• Total profit: $-22,355
• Equity at exit: $17,292

Cash invested: $56,000 (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 33445

• Rents YoY: 1.8%
• Active inventory: 357
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,690 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$263 /mo · $3,151/yr
• Insurance: −$83
• HOA: −$591
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $139

Break-even live

Break-even rent $2,514

Max offer price $200,000

Occupancy floor 90%

Sensitivity live

Price	-10% $252	-5% $196	+0% $139	+5% $82	+10% $26
Rent	-10% $-73	-5% $33	+0% $139	+5% $245	+10% $351
Rate	-1.0pp $240	-0.5pp $190	base $139	+0.5pp $87	+1.0pp $34

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1152 Circle Dr Unit D Delray Beach, FL	2.0	2.0	1200	$2,000	$1.67	13d	1	0.21mi
1155 South Drive Cir Unit A Delray Beach, FL	2.0	2.0	1080	$2,195	$2.03	25d	1	0.21mi
1152 Circle Dr Unit D Delray Beach, FL	2.0	2.0	1200	$2,000	$1.67	25d	1	0.21mi
1142 Circle Ter W Unit C Delray Beach, FL	1.0	1.5	1080	$1,700	$1.57	4d	1	0.21mi
775 North Dr Unit A Delray Beach, FL	2.0	2.0	1175	$2,000	$1.70	12d	1	0.22mi
775 North Dr Unit A Delray Beach, FL	2.0	2.0	1175	$2,000	$1.70	0d	1	0.22mi
707 High Point Blvd N Unit C Delray Beach, FL	1.0	1.5	994	$1,600	$1.61	25d	1	0.22mi
3935 Village Dr Delray Beach, FL	3.0	3.0	1326	$2,700	$2.04	6d	1	0.24mi
3935 Village Dr Unit A Delray Beach, FL	3.0	3.0	1326	$2,700	$2.04	9d	1	0.24mi
512 High Point Dr Unit C Delray Beach, FL	1.0	2.0	994	$2,100	$2.11	21d	1	0.32mi
2941 Angler Dr Delray Beach, FL	3.0	2.0	1578	$5,000	$3.17	25d	1	0.35mi
328 W Coral Trace Cir Unit 328 Delray Beach, FL	3.0	2.5	1632	$3,500	$2.14	12d	1	0.36mi
328 W Coral Trace Cir Delray Beach, FL	3.0	2.5	1632	$3,500	$2.14	23d	1	0.36mi
405 High Point Blvd Unit C Delray Beach, FL	1.0	1.5	994	$1,500	$1.51	25d	1	0.40mi
2712 Lake Ida Rd Delray Beach, FL	3.0	2.0	1604	$4,000	$2.49	9d	1	0.40mi
1252 Club Dr W Unit D Delray Beach, FL	2.0	2.0	1137	$2,100	$1.85	6d	1	0.41mi
1252 Club Dr W Unit D Delray Beach, FL	2.0	2.0	1137	$2,100	$1.85	25d	1	0.41mi
4310 Village Dr Unit D Delray Beach, FL	3.0	3.0	1326	$2,600	$1.96	25d	1	0.44mi
3996 NW 7th Ct Delray Beach, FL	3.0	2.0	1480	$5,000	$3.38	25d	1	0.46mi
315 Coral Trace Ln Delray Beach, FL	3.0	2.0	1576	$3,800	$2.41	9d	1	0.47mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	25d	1	0.47mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	18d	1	0.47mi
2622 NW 7th Ct Delray Beach, FL	2.0	2.5	1384	$2,750	$1.99	25d	1	0.47mi
227 Coral Trace Ln Unit 227 Delray Beach, FL	2.0	2.0	1376	$3,100	$2.25	25d	1	0.48mi
2513 Coral Trace Pl Delray Beach, FL	3.0	2.5	1632	$3,500	$2.14	25d	1	0.49mi
2480 S Coral Trace Cir Delray Beach, FL	2.0	2.0	1379	$2,900	$2.10	9d	1	0.49mi
2450 S Coral Trace Cir Delray Beach, FL	3.0	2.0	1576	$2,975	$1.89	25d	1	0.52mi
872 NW 29th Ave Unit A Delray Beach, FL	2.0	2.0	1188	$2,700	$2.27	25d	1	0.53mi
4515 NW 3rd Ct Unit C Delray Beach, FL	1.0	2.0	1080	$1,900	$1.76	25d	1	0.53mi
215 NW 40th Ave Delray Beach, FL	3.0	2.0	1240	$3,350	$2.70	25d	1	0.53mi
212 High Point Ter W Unit C Delray Beach, FL	1.0	1.5	1122	$2,000	$1.78	23d	1	0.55mi
945 Sunflower Ave Delray Beach, FL	3.0	2.0	1755	$4,500	$2.56	9d	1	0.57mi
4110 NW 10th St Delray Beach, FL	3.0	2.5	1839	$4,500	$2.45	25d	1	0.63mi
125 Via D Este Delray Beach, FL	1.0–3.0	1.0–2.0	1156	$3,297	$2.85	0d	14	0.65mi
2915 NW 12th St Unit D Delray Beach, FL	2.0	2.0	1499	$3,200	$2.13	9d	1	0.71mi
4510 NW 2nd St Unit A Delray Beach, FL	2.0	2.0	1080	$1,800	$1.67	25d	1	0.72mi
500 N Congress Ave Delray Beach, FL	2.0–3.0	1.0–2.0	989	$2,295	$2.32	0d	6	0.73mi
2583 NW 13th St Delray Beach, FL	2.0	2.0	1466	$2,600	$1.77	18d	1	0.81mi
305 SW 28th Ave Delray Beach, FL	2.0	2.0	1369	$4,300	$3.14	15d	1	0.81mi
13487 Barwick Rd Unit B Delray Beach, FL	2.0	1.5	1092	$3,600	$3.30	0d	1	0.82mi

HOA detail condo

• Monthly dues: $591 · $7,092/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-21
   days on market $200,000 Active 13 DOM
2. 2026-06-18
   days on market $200,000 Active 10 DOM
3. 2026-06-17
   days on market $200,000 Active 9 DOM
4. 2026-06-16
   days on market $200,000 Active 8 DOM
5. 2026-06-15
   days on market $200,000 Active 7 DOM
6. 2026-06-13
   days on market $200,000 Active 5 DOM
7. 2026-06-08
   remarks 699-char remark
8. 2026-06-08
   listed $200,000 Active 1 DOM

ⓘ 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: $3,151 · $263/mo
• Projected year-2 tax: $3,151 · $263/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 10/10 Extreme 7 d/yr ≥106°F today · 27 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: $32,274
• − Mortgage interest: −$11,203
• − Property taxes: −$3,151
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,582
• − Management: −$2,582
• − HOA: −$7,092
• − Depreciation: −$5,818
• Taxable loss: −$1,154
• Est. tax savings @ 24.0%: +$277
• After-tax cash flow: $1,945/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

• Census place: Delray Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 123,167
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,122
• Household income: $78,163
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1649.0

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 0.62)
• Race & ethnicity: White 55% Black 24% Hispanic / Latino 11% Two or more races 11% Asian 4%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2%
• Common ancestry: Hispanic 14% Romanian 3% Scotch-Irish 3%
• Foreign-born: 27% · Canada, Jamaica, Dominican Republic
• Languages at home: 66% English-only · French/Haitian/Cajun 18% Spanish 9% Other Indo-European 4%

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: ▼ -258.16%
• Current HPI: 349.5505
• Rent YoY: ▲ 1.83%
• 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

+566.7% since first listed

15 events — show timeline

• 2026-06-08 Listed $200,000 MARMLS
• 2026-05-05 Listing Removed — Beaches MLS
• 2026-04-07 Price Changed $199,000 Beaches MLS
• 2026-03-06 Price Changed $210,000 Beaches MLS
• 2025-12-05 Price Changed $218,000 Beaches MLS
• 2025-11-13 Listed $225,000 Beaches MLS
• 2013-08-29 Sold (Public Records) $84,000 Public Records
• 2011-03-01 Sold (Public Records) $82,000 Public Records
• 2010-04-19 Listing Removed — Beaches MLS
• 2010-02-24 Listed $89,999 Beaches MLS
• 2000-08-14 Sold (Public Records) $40,000 Public Records
• 2000-08-09 Sold (MLS) $40,000 Beaches MLS
• 2000-07-09 Listing Removed — Beaches MLS
• 2000-04-03 Listed $43,900 Beaches MLS
• 1977-01-01 Sold (Public Records) $30,000 Public Records

Property tax history

+8.9%/yr

Latest (2025): $3,151 · +9.1% YoY. Source: county tax records.