5842 Crystal Shores Dr #302 · Delray Beach, FL 33437

$190,000

3 bd · 2.0 ba · 1,392 sqft · Condo public records · 72 Days on market

Built 1997 $1043/mo HOA · 32% of rent

---

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 +16.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• Appreciation +4.9/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

LOVELY SPACIOUS CONDO HAS GREAT LAKE VIEWS. UPGRADED KITCHEN CABINETS, BUILT IN EXTRA CABINET. BUYER TO PAY A 1X CAPITAL CONTRIBUTION TO CORAL LAKES ASSOC AND REGAL SHORES CONDO $1500 AT TIME OF CLOSING

Key facts

• Lakefront living
• Water views
• Ample cabinetry

Tags

• LAKEFRONT LIVING
• WATER VIEWS
• OPEN CONCEPT LAYOUT
• AMPLE CABINETRY
• RESORT STYLE AMENITIES
• INDOOR AND OUTDOOR POOLS

Property features AI

Finance

• Financial info: Pets not allowed; Senior community
• HOA & community: Community association with monthly HOA fee; HOA amenities include basketball court, billiard room, clubhouse, fitness center, game room, indoor pool, outdoor pool, tennis courts, pickleball courts, and library; HOA fee covers cable TV, security, trash, elevator, reserve funds, roof repairs, and pool service

Exterior

• Parking: 1 parking space; Guest parking available
• Security: Association provides security
• Utilities: Public water; Public sewer; Cable available; Electricity available; Phone available
• Home design: Condominium; 4-story building; Resale unit; Faces northwest
• Construction: CBS construction
• Exterior features: Waterfront property; Tar and gravel roof

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning (electric)
• Interior features: Walk-in closets; Roman tub; Furnished negotiable
• Laundry & utility: In-unit laundry in a main-level laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $113 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $179k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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); Atlantic High School (math 28% / reading 52%, grade F, #296 of 667 statewide, top 45%, 1,889 students, 59% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: Rents rising (+1.3%/yr); 479 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $3,254/mo this rent would consume 48% of the median local household income ($81k/yr) (locally 902% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $855 of equity ($1k loan paydown + $-459 appreciation (-0.2% local appreciation)).
• 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 72 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $30k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.71% ✓
• Cap rate: 7.01%
• Cash-on-cash: 2.55%
• DSCR: 1.11
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.24% appreciation · 1.28% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.90×
• Total profit: $-5,303
• Equity at exit: $52,885

10-year hold

• IRR: 1.6%
• Equity multiple: 1.16×
• Total profit: $8,271
• Equity at exit: $61,774

Cash invested: $53,200 (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 33437

• Home prices YoY: -0.1%
• Rents YoY: 1.3%
• Active inventory: 479
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $3,254 high
• Mortgage (P&I): −$996
• Tax from tax record: −$340 /mo · $4,075/yr
• Insurance: −$79
• HOA: −$1,043
• Vacancy / Maint / Mgmt: −$683
• Net cashflow: $113

Break-even live

Break-even rent $3,112

Max offer price $190,000

Occupancy floor 92%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12547 Imperial Isle Dr Boynton Beach, FL	2.0–3.0	2.0	1500	$4,500	$3.00	24d	2	0.13mi
5574 Royal Lake Cir Boynton Beach, FL	3.0	2.0	1658	$5,000	$3.02	15d	1	0.23mi
5952 Regal Glen Dr #103 Boynton Beach, FL	3.0	2.0	1813	$2,550	$1.41	24d	1	0.34mi
5850 Sugar Palm Ct Delray Beach, FL	2.0	2.0	1198	$3,300	$2.75	24d	1	0.36mi
12390 Summer Springs Dr Boynton Beach, FL	3.0	2.0	1861	$3,300	$1.77	24d	1	0.37mi
13921 Royal Palm Ct Unit D Delray Beach, FL	2.0	2.0	1205	$4,000	$3.32	8d	1	0.39mi
5335 Vernio Ln Boynton Beach, FL	3.0	2.0	1798	$3,700	$2.06	24d	1	0.41mi
12654 Via Ravenna Boynton Beach, FL	3.0	2.0	1729	$3,500	$2.02	24d	1	0.43mi
12299 Forest Greens Dr Boynton Beach, FL	2.0	2.0	1310	$2,450	$1.87	18d	1	0.43mi
13817 Royal Palm Ct Unit B Delray Beach, FL	2.0	2.0	1205	$3,200	$2.66	24d	1	0.48mi
13283 Pineapple Palm Ct Unit F Delray Beach, FL	2.0	2.0	1198	$2,100	$1.75	8d	1	0.61mi
13283 Pineapple Palm Ct Unit F Delray Beach, FL	2.0	2.0	1198	$2,100	$1.75	24d	1	0.61mi
12118 Country Greens Blvd Boynton Beach, FL	3.0	2.0	1566	$3,000	$1.92	11d	1	0.62mi
5675 Northpointe Ln Boynton Beach, FL	2.0	2.5	1163	$2,950	$2.54	24d	1	0.63mi
5675 Northpointe Ln Boynton Beach, FL	2.0	2.0	1163	$3,000	$2.58	3d	1	0.63mi
5694 Northpointe Ln Boynton Beach, FL	2.0	2.0	1125	$2,825	$2.51	8d	1	0.63mi
5734 Northpointe Ln Boynton Beach, FL	2.0	2.0	1125	$2,750	$2.44	15d	1	0.65mi
5734 Northpointe Ln Boynton Beach, FL	2.0	2.0	1125	$2,600	$2.31	4d	1	0.65mi
13431 Amber Waves Ave Delray Beach, FL	2.0	2.0	1390	$3,500	$2.52	24d	1	0.67mi
13297 Via Vulcanus Unit B Delray Beach, FL	2.0	2.0	1527	$3,000	$1.96	8d	1	0.70mi
13255 Royale Sabal Ct Delray Beach, FL	3.0	2.5	1618	$4,300	$2.66	24d	1	0.70mi
5449 Grande Palm Cir Delray Beach, FL	3.0	2.5	1618	$4,000	$2.47	24d	1	0.72mi
5449 Grande Palm Cir Delray Beach, FL	3.0	2.5	1618	$4,000	$2.47	18d	1	0.72mi
13759 Date Palm Ct Unit A Delray Beach, FL	2.0	2.0	1247	$3,500	$2.81	24d	1	0.77mi
5655 Via Delray Delray Beach, FL	2.0	2.0	1205	$2,200	$1.83	24d	1	0.78mi
5908 Via Delray Blvd Delray Beach, FL	2.0	2.0	1221	$2,000	$1.64	24d	1	0.78mi
5675 Queen Palm Ct Delray Beach, FL	2.0	2.0	1200	$2,600	$2.17	24d	1	0.78mi
5750 Fairway Park Ct #101 Boynton Beach, FL	3.0	2.0	1426	$1,850	$1.30	24d	1	0.81mi
13413 Via Vesta Unit A Delray Beach, FL	4.0	2.0	1196	$2,100	$1.76	17d	1	0.85mi
5260 Grande Palm Cir Delray Beach, FL	3.0	2.0	1464	$2,800	$1.91	24d	1	0.88mi
13653 Jubilee Ln Delray Beach, FL	3.0	2.0	1305	$3,450	$2.64	14d	1	0.91mi
5462 Via Delray #123 Delray Beach, FL	2.0	2.0	1200	$2,700	$2.25	21d	1	0.92mi
6599 Old Farm Trl #6599 Boynton Beach, FL	3.0	2.5	1441	$3,000	$2.08	24d	1	0.96mi
13657 Night Sky Pl Delray Beach, FL	2.0	2.0	1319	$3,200	$2.43	8d	1	0.98mi
13670 Via Flora Delray Beach, FL	2.0	2.0	1021	$1,400	$1.37	16d	1	0.98mi
13670 Via Flora Delray Beach, FL	2.0	2.0	1021	$1,400	$1.37	24d	1	0.98mi
13741 Flora Pl Unit B Delray Beach, FL	2.0	2.0	989	$2,100	$2.12	22d	1	1.01mi
6760 Heritage Grande #6304 Boynton Beach, FL	2.0	2.0	880	$2,000	$2.27	22d	1	1.01mi
13419 Noble Dr Delray Beach, FL	2.0	2.0	1410	$3,600	$2.55	18d	1	1.01mi
6768 Heritage Grande Boynton Beach, FL	2.0	2.0	1200	$1,800	$1.50	24d	1	1.03mi

HOA detail condo

• Monthly dues: $1,043 · $12,516/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $190,000 Active 72 DOM
2. 2026-06-17
   days on market $190,000 Active 71 DOM
3. 2026-06-16
   days on market $190,000 Active 70 DOM
4. 2026-06-15
   days on market $190,000 Active 69 DOM
5. 2026-06-13
   days on market $190,000 Active 67 DOM
6. 2026-06-09
   days on market $190,000 Active 63 DOM
7. 2026-06-08
   pricedays on market $190,000 Active 62 DOM
8. 2026-06-07
   days on market $195,000 Active 61 DOM
9. 2026-06-04
   days on market $195,000 Active 58 DOM
10. 2026-06-03
    days on market $195,000 Active 57 DOM
11. 2026-06-02
    days on market $195,000 Active 56 DOM
12. 2026-06-01
    days on market $195,000 Active 55 DOM
13. 2026-05-31
    days on market $195,000 Active 54 DOM
14. 2026-05-04
    price $195,000
15. 2026-04-23
    price $199,000
16. 2026-04-08
    listed $220,000 Active
17. 2015-05-06
    soldstatus $155,000
18. 2015-05-01
    historical 202-char remark

    Show marketing remark (202 chars)

    LOVELY SPACIOUS CONDO HAS GREAT LAKE VIEWS. UPGRADED KITCHEN CABINETS, BUILT IN EXTRA CABINET. BUYER TO PAY A 1X CAPITAL CONTRIBUTION TO CORAL LAKES ASSOC AND REGAL SHORES CONDO $1500 AT TIME OF CLOSING

19. 2015-04-30
    soldstatus $155,000 Closed 202-char remark

    Show marketing remark (202 chars)

    LOVELY SPACIOUS CONDO HAS GREAT LAKE VIEWS. UPGRADED KITCHEN CABINETS, BUILT IN EXTRA CABINET. BUYER TO PAY A 1X CAPITAL CONTRIBUTION TO CORAL LAKES ASSOC AND REGAL SHORES CONDO $1500 AT TIME OF CLOSING

20. 2015-03-26
    listed $155,000 202-char remark

    Show marketing remark (202 chars)

    LOVELY SPACIOUS CONDO HAS GREAT LAKE VIEWS. UPGRADED KITCHEN CABINETS, BUILT IN EXTRA CABINET. BUYER TO PAY A 1X CAPITAL CONTRIBUTION TO CORAL LAKES ASSOC AND REGAL SHORES CONDO $1500 AT TIME OF CLOSING

21. 2015-03-26
    historical 202-char remark

    Show marketing remark (202 chars)

    LOVELY SPACIOUS CONDO HAS GREAT LAKE VIEWS. UPGRADED KITCHEN CABINETS, BUILT IN EXTRA CABINET. BUYER TO PAY A 1X CAPITAL CONTRIBUTION TO CORAL LAKES ASSOC AND REGAL SHORES CONDO $1500 AT TIME OF CLOSING

ⓘ 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: $4,075 · $340/mo
• Projected year-2 tax: $4,075 · $340/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 5 d/yr ≥106°F today · 18 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: $39,053
• − Mortgage interest: −$10,643
• − Property taxes: −$4,075
• − Insurance: −$950
• − Repairs & maintenance: −$3,124
• − Management: −$3,124
• − HOA: −$12,516
• − Depreciation: −$5,527
• Taxable loss: −$907
• Est. tax savings @ 24.0%: +$218
• After-tax cash flow: $1,572/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): 37,229
• Household income: $80,710
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 902.0

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 (68%)
• Race & ethnicity: White 68% Two or more races 13% Hispanic / Latino 12% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1% Dominican 1%
• Common ancestry: Scotch-Irish 8% Romanian 8% Hispanic 6%
• Foreign-born: 18% · Canada, Jamaica, Vietnam
• Languages at home: 78% English-only · Spanish 10% French/Haitian/Cajun 6% Other Indo-European 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: ▼ -0.24%
• Current HPI: 257.5891
• Rent YoY: ▲ 1.28%
• 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

+25.8% since first listed

8 events — show timeline

• 2026-05-04 Price Changed $195,000 Beaches MLS
• 2026-04-23 Price Changed $199,000 Beaches MLS
• 2026-04-08 Listed $220,000 Beaches MLS
• 2015-05-06 Sold (Public Records) $155,000 Public Records
• 2015-05-01 Listing Removed — Beaches MLS
• 2015-04-30 Sold (MLS) $155,000 Beaches MLS
• 2015-03-26 Listing Removed — Beaches MLS
• 2015-03-26 Listed $155,000 Beaches MLS

Property tax history

+6.9%/yr

Latest (2025): $4,075 · +5.4% YoY. Source: county tax records.