110 N Delaware Blvd Unit 13a

Jupiter, FL 33458

$324,499D

2 bd · 2.5 ba · 1,320 sqft · Built 1981 · Townhouse · Pending · 60 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,005/mo
• Mortgage (P&I): −$1,702
• Tax + insurance: −$349
• HOA: −$390
• Vac / Maint / Mgmt: −$631
• Net cashflow: $-66/mo
• Annual: $-797/yr
• Cap rate: 6.05%
• Cash-on-cash: -0.88%
• DSCR: 0.96
• 1% rule: 0.93%
• Cash to close: $90,860

Investor read

• This is a 2-bed/2.5-bath townhouse listed at $324k.
• At list price, monthly cash flow is $-66 ($-797/yr) — negative.
• To cash-flow at today's rent, offer at most $313k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $300k (7.4% below list).
• It's been on market 60 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $300k (7.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#415 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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: Jerry Thomas Elementary School (math 60% / reading 67%, grade B, #564 of 2,144 statewide, top 27%, 718 students, 41% FRL); Independence Middle School (math 71% / reading 67%, grade A, #68 of 571 statewide, top 12%, 1,166 students, 25% FRL); Jupiter High School (math 56% / reading 64%, grade C+, #106 of 667 statewide, top 16%, 3,087 students, 28% FRL) — zoned schools average 31% FRL vs 52% district-wide (21 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 (+15 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 rising (+1.9%/yr); 321 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).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $36k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $201k; list at $324k implies a 61% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 2.7% in Jupiter — 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.
• This rent runs 33% of the median local income ($110k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 60 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• 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?
• 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.
• 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.