14721 Bonaire Blvd #309 · Delray Beach, FL 33446

$70,000

2 bd · 2.0 ba · 920 sqft · Condo public records · 51 Days on market

Built 1977 $687/mo HOA · 33% 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

Key facts

• $687 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets not allowed; Resale property
• HOA & community: Condo association: Bonaire Village Condo Assoc. Inc; Monthly association fee; Association amenities include pool, fitness center, billiard room and community room; Association fee includes cable TV, insurance, grounds maintenance, sewer, trash and water

Exterior

• Parking: Assigned parking (1 space)
• Utilities: Public water; Public sewer; Cable available; Water available; Sewer available
• Home design: Condominium; Multi/split levels; 3-story building; North-facing
• Construction: Concrete and stucco/CBS construction; Concrete roof; Built with public-records area of 920 (building area)
• Exterior features: Screened patio; Patio; Waterfront

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 2 bedrooms on main level
• Flooring: Carpet; Tile; Wood
• Bathrooms: 2 full bathrooms on main level
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Walk-in closets; Unfurnished
• Laundry & utility: Laundry inside unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.2% 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.
• 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 24d 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 $965 of equity ($484 loan paydown + $481 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 $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 27y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; HOA is 33% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 2→6/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 3.01% ✓
• Cap rate: 13.24%
• Cash-on-cash: 24.81%
• DSCR: 2.10
• GRM: 2.8

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: 22.6%
• Equity multiple: 2.09×
• Total profit: $21,418
• Equity at exit: $22,763

10-year hold

• IRR: 23.1%
• Equity multiple: 3.33×
• Total profit: $45,717
• Equity at exit: $29,392

Cash invested: $19,600 (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: 2.8×

Monthly cashflow live

• Estimated rent: $2,104 high
• Mortgage (P&I): −$367
• Tax from tax record: −$174 /mo · $2,083/yr
• Insurance: −$29
• HOA: −$687
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $405

Break-even live

Break-even rent $1,591

Max offer price $70,000

Occupancy floor 76%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32 Abbey Ln #207 Delray Beach, FL	2.0	2.0	925	$2,500	$2.70	24d	1	0.06mi
14671 Bonaire Blvd #505 Delray Beach, FL	1.0	2.0	925	$1,600	$1.73	24d	1	0.08mi
31 Abbey Ln #207 Delray Beach, FL	2.0	2.0	925	$1,300	$1.41	24d	1	0.09mi
14735 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,350	$2.19	2d	1	0.15mi
3 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,500	$2.70	24d	1	0.16mi
23 Abbey Ln #208 Delray Beach, FL	2.0	2.0	925	$1,500	$1.62	2d	1	0.16mi
21 Abbey Ln #107 Delray Beach, FL	2.0	2.0	925	$1,800	$1.95	14d	1	0.17mi
19 Abbey Ln #206 Delray Beach, FL	2.0	2.0	925	$1,750	$1.89	24d	1	0.18mi
20 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,600	$2.81	24d	1	0.20mi
14832 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,500	$2.33	17d	1	0.21mi
10 Willowbrook Ln #105 Delray Beach, FL	2.0	2.0	1005	$2,100	$2.09	10d	1	0.28mi
14 Willowbrook Ln #101 Delray Beach, FL	2.0	2.0	1005	$1,700	$1.69	5d	1	0.29mi
189 Seville Ter Unit 189 Delray Beach, FL	2.0	2.0	880	$1,900	$2.16	24d	1	0.36mi
14747 Cumberland Dr #301 Delray Beach, FL	2.0	2.0	1044	$1,900	$1.82	24d	1	0.38mi
28 Seville B Delray Beach, FL	2.0	2.0	883	$1,950	$2.21	10d	1	0.39mi
14723 Cumberland Dr Unit 404 B Delray Beach, FL	1.0	2.0	912	$1,850	$2.03	24d	1	0.41mi
6795 Huntington Ln #406 Delray Beach, FL	2.0	2.0	990	$2,500	$2.53	20d	1	0.43mi
7192 Huntington Ln #307 Delray Beach, FL	2.0	2.0	1070	$3,500	$3.27	18d	1	0.44mi
14307 Bedford Dr #302 Delray Beach, FL	2.0	2.0	990	$2,200	$2.22	24d	1	0.48mi
14896 Bal Moral Ln Delray Beach, FL	2.0	2.0	1040	$2,200	$2.12	24d	1	0.52mi
7286 Huntington Ln #105 Delray Beach, FL	2.0	2.0	1070	$3,350	$3.13	24d	1	0.52mi
92 Seville Blvd Delray Beach, FL	2.0	2.0	880	$1,895	$2.15	24d	1	0.56mi
14898 Wedgefield Dr #202 Delray Beach, FL	2.0	2.0	1103	$2,000	$1.81	17d	1	0.58mi
14895 Builtmore Way Delray Beach, FL	2.0	2.0	1103	$1,800	$1.63	24d	1	0.58mi
43 Waterford B Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	24d	1	0.59mi
126 Seville E Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	18d	1	0.59mi
213 Waterford I Delray Beach, FL	2.0	2.0	880	$1,600	$1.82	24d	1	0.61mi
154 Seville G Delray Beach, FL	1.0	1.0	720	$1,490	$2.07	14d	1	0.62mi
15035 Michelangelo Blvd #103 Delray Beach, FL	2.0	2.0	1079	$2,000	$1.85	24d	1	0.64mi
15155 Michelangelo Blvd Delray Beach, FL	2.0	2.0	1079	$2,288	$2.12	7d	2	0.65mi
15155 Michelangelo Blvd #106 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	20d	1	0.66mi
15155 Michelangelo Blvd #106 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	24d	1	0.66mi
15065 Michelangelo Blvd #105 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	22d	1	0.66mi
15065 Michelangelo Blvd #105 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	2d	1	0.66mi
102 Waterford D Unit 102 Delray Beach, FL	1.0	1.5	720	$1,900	$2.64	24d	1	0.67mi
163 Tuscany C Unit C Delray Beach, FL	1.0	1.5	720	$1,300	$1.81	14d	1	0.68mi
15055 Michelangelo Blvd Delray Beach, FL	2.0–3.0	2.0	1158	$2,125	$1.83	22d	2	0.69mi
148 Waterford D Unit 148 Delray Beach, FL	2.0	2.0	883	$1,900	$2.15	17d	1	0.69mi
242 Seville K Unit 242 Delray Beach, FL	1.0	1.5	720	$1,380	$1.92	24d	1	0.69mi
7301 Amberly Ln #304 Delray Beach, FL	2.0	2.0	1080	$1,495	$1.38	7d	1	0.73mi

HOA detail condo

• Monthly dues: $687 · $8,244/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $70,000 Active 51 DOM
2. 2026-06-17
   days on market $70,000 Active 50 DOM
3. 2026-06-16
   days on market $70,000 Active 49 DOM
4. 2026-06-15
   days on market $70,000 Active 48 DOM
5. 2026-06-13
   days on market $70,000 Active 46 DOM
6. 2026-06-09
   days on market $70,000 Active 42 DOM
7. 2026-06-08
   days on market $70,000 Active 41 DOM
8. 2026-06-07
   days on market $70,000 Active 40 DOM
9. 2026-06-04
   days on market $70,000 Active 37 DOM
10. 2026-06-03
    days on market $70,000 Active 36 DOM
11. 2026-06-02
    days on market $70,000 Active 35 DOM
12. 2026-06-01
    days on market $70,000 Active 34 DOM
13. 2026-05-31
    days on market $70,000 Active 33 DOM
14. 2026-04-24
    listed $70,000 Active
15. 2026-03-13
    historical
16. 2026-03-05
    price $86,500
17. 2026-03-04
    listed $125,000 Active
18. 2026-03-03
    historical
19. 2026-01-04
    listed $89,000
20. 2019-06-26
    soldstatus $80,000
21. 2019-06-03
    soldstatus $80,000 Closed
22. 2019-05-22
    historical Active Under Contract
23. 2019-05-14
    price $89,488
24. 2019-05-08
    price $89,588
25. 2019-04-27
    price $89,888
26. 2019-04-15
    price $89,899
27. 2019-04-03
    price $89,900
28. 2019-03-24
    price $89,980
29. 2019-03-13
    price $89,990
30. 2019-03-06
    price $89,995
31. 2019-02-28
    price $89,999
32. 2019-02-28
    price $94,500
33. 2019-02-22
    status Active
34. 2019-01-23
    historical Active Under Contract
35. 2019-01-19
    status Pending
36. 2019-01-11
    price $89,945
37. 2019-01-08
    price $89,949
38. 2019-01-03
    price $89,950
39. 2018-12-29
    price $92,488
40. 2018-12-24
    price $92,499
41. 2018-12-07
    price $92,500
42. 2018-11-24
    listed $94,999 Active
43. 2015-04-01
    soldstatus $62,500
44. 2013-12-12
    soldstatus $39,900 Closed
45. 2013-12-04
    soldstatus $39,000
46. 2013-09-22
    historical
47. 2013-09-01
    status Pending
48. 2013-07-25
    price $39,999
49. 2013-06-26
    listed $49,900 Active
50. 1999-11-04
    listed $41,900

ⓘ 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: $2,083 · $174/mo
• Projected year-2 tax: $2,083 · $174/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 2 d/yr ≥107°F today · 6 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: $25,248
• − Mortgage interest: −$3,921
• − Property taxes: −$2,083
• − Insurance: −$350
• − Repairs & maintenance: −$2,020
• − Management: −$2,020
• − HOA: −$8,244
• − Depreciation: −$2,036
• Taxable income: $4,573
• Est. tax owed @ 24.0%: −$1,098
• After-tax cash flow: $3,766/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

+133.3% since first listed

38 events — show timeline

• 2026-04-24 Listed $70,000 Beaches MLS
• 2026-03-13 Listing Removed — Beaches MLS
• 2026-03-05 Price Changed $86,500 Beaches MLS
• 2026-03-04 Listed $125,000 Beaches MLS
• 2026-03-03 Listing Removed — Beaches MLS
• 2026-01-04 Listed $89,000 Beaches MLS
• 2019-06-26 Sold (Public Records) $80,000 Public Records
• 2019-06-03 Sold (MLS) $80,000 Beaches MLS
• 2019-05-22 Contingent — Beaches MLS
• 2019-05-14 Price Changed $89,488 Beaches MLS
• 2019-05-08 Price Changed $89,588 Beaches MLS
• 2019-04-27 Price Changed $89,888 Beaches MLS
• 2019-04-15 Price Changed $89,899 Beaches MLS
• 2019-04-03 Price Changed $89,900 Beaches MLS
• 2019-03-24 Price Changed $89,980 Beaches MLS
• 2019-03-13 Price Changed $89,990 Beaches MLS
• 2019-03-06 Price Changed $89,995 Beaches MLS
• 2019-02-28 Price Changed $89,999 Beaches MLS
• 2019-02-28 Price Changed $94,500 Beaches MLS
• 2019-02-22 Relisted — Beaches MLS
• 2019-01-23 Contingent — Beaches MLS
• 2019-01-19 Pending — Beaches MLS
• 2019-01-11 Price Changed $89,945 Beaches MLS
• 2019-01-08 Price Changed $89,949 Beaches MLS
• 2019-01-03 Price Changed $89,950 Beaches MLS
• 2018-12-29 Price Changed $92,488 Beaches MLS
• 2018-12-24 Price Changed $92,499 Beaches MLS
• 2018-12-07 Price Changed $92,500 Beaches MLS
• 2018-11-24 Listed $94,999 Beaches MLS
• 2015-04-01 Sold (Public Records) $62,500 Public Records
• 2013-12-12 Sold (MLS) $39,900 Beaches MLS
• 2013-12-04 Sold (Public Records) $39,000 Public Records
• 2013-09-22 Listing Removed — Beaches MLS
• 2013-09-01 Pending — Beaches MLS
• 2013-07-25 Price Changed $39,999 Beaches MLS
• 2013-06-26 Listed $49,900 Beaches MLS
• 1999-11-04 Listed $41,900 Beaches MLS
• 1993-06-18 Sold (Public Records) $30,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $2,083 · +1.9% YoY. Source: county tax records.