1125 Crystal Way Unit N · Delray Beach, FL 33444

$195,000

1 bd · 1.0 ba · 560 sqft · Condo public records · 32 Days on market

Built 1989

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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 +21.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.4/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

on1 bedroom 1 bath condo located in a gated community. 2nd floor unit. Don't miss out on this great opportunity. Upgraded kitchen and bathroom. The seller may take up to 10 days to respond to offers. Please download the required offer documents from either the attachments section of MLS or the Taza Link located in the broker remarks. Please make sure all of the required documents listed on the coversheet are included in your offer submission. Please make sure all documents are uploaded as ONE file to Taza.

Key facts

• Gated community
• Minutes from beach
• Close to i-95

Tags

• GATED COMMUNITY
• ADDITIONAL STORAGE CLOSET
• CLOSE TO SHOPPING
• CLOSE TO DINING
• CLOSE TO I-95
• MINUTES FROM BEACH

Property features AI

Finance

• Financial info: Pets allowed with restrictions or possible restrictions (conditional)
• HOA & community: Monthly HOA fee (paid monthly)

Exterior

• Parking: Attached garage; Assigned parking; Guest parking; 1 covered garage space
• Home design: Condo (Bahia at Delray model); 2 stories; Entry on first level
• Construction: Block construction; Resale property
• Exterior features: Attached property (condo); Faces south; Entry at level 1

Interior

• Kitchen: Electric range; Refrigerator
• Bathrooms: 1 full bathroom
• Interior features: First-floor entry; Other interior features
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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.
• Market conditions: Rents rising (+1.6%/yr); 233 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 33% of the median local income ($73k/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

• It's been on market 32 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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 $47k; list at $195k implies a 315% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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.

Recommended offer $189,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.04% ✓
• Cap rate: 7.98%
• Cash-on-cash: 6.03%
• DSCR: 1.27
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.63% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.69×
• Total profit: $-16,876
• Equity at exit: $29,075

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-3,159
• Equity at exit: $16,860

Cash invested: $54,600 (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 33444

• Rents YoY: 1.6%
• Active inventory: 233
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,034 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$229 /mo · $2,747/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $274

Break-even live

Break-even rent $1,687

Max offer price $195,000

Occupancy floor 82%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1125 Crystal Way Delray Beach, FL	1.0–2.0	1.0	560	$2,000	$3.57	2d	2	0.03mi
1011 Crystal Way Delray Beach, FL	1.0	1.0	663	$1,875	$2.83	8d	2	0.16mi
1385 Crystal Way Unit L Delray Beach, FL	1.0	1.0	560	$1,850	$3.30	24d	1	0.16mi
1011 Crystal Way Unit D Delray Beach, FL	1.0	1.0	630	$1,850	$2.94	24d	1	0.16mi
1011 Crystal Way Unit C Delray Beach, FL	1.0	1.0	696	$1,900	$2.73	13d	1	0.16mi
1001 Crystal Way Unit E Delray Beach, FL	1.0	1.0	696	$1,880	$2.70	24d	1	0.19mi
2255 Lindell Blvd Delray Beach, FL	1.0–2.0	1.0–2.5	1007	$1,900	$1.89	15d	8	0.30mi
1915 Lavers Cir Delray Beach, FL	1.0–2.0	1.0–2.0	990	$1,995	$2.02	11d	5	0.48mi
1874 Heron Club Dr Delray Beach, FL	2.0	1.0–2.0	889	$2,998	$3.37	2d	5	0.57mi
820 Lavers Cir Unit G311 Delray Beach, FL	1.0	1.0	731	$2,000	$2.74	24d	1	0.58mi
7801 N Federal Hwy Boca Raton, FL	1.0–3.0	1.0–3.5	1375	$2,175	$1.58	2d	29	1.03mi
1705 Palm Cove Blvd Unit 1-206 Delray Beach, FL	1.0	1.0	636	$2,150	$3.38	24d	1	1.22mi
1725 Palm Cove Blvd Unit 104 Delray Beach, FL	1.0	1.0	558	$1,700	$3.05	24d	1	1.26mi
1845 Palm Cove Blvd Unit 8-204 Delray Beach, FL	1.0	1.0	570	$1,850	$3.25	13d	1	1.26mi
1825 Palm Cove Blvd Unit UNI8T 105 Delray Beach, FL	2.0	2.0	672	$2,200	$3.27	2d	1	1.29mi
1825 Palm Cove Blvd Unit 7-204 Delray Beach, FL	1.0	1.0	636	$2,000	$3.14	4d	1	1.29mi
1780 Palm Cove Blvd Unit 6-302 Delray Beach, FL	1.0	1.0	672	$1,800	$2.68	5d	1	1.30mi
1780 Palm Cove Blvd Unit 6 Delray Beach, FL	1.0	1.0	570	$1,845	$3.24	8d	1	1.30mi
1780 Palm Cove Blvd Unit 6-202 Delray Beach, FL	1.0	1.0	672	$1,800	$2.68	24d	1	1.30mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-17
   status $195,000 Pending 32 DOM
2. 2026-06-16
   days on market $195,000 Active 32 DOM
3. 2026-06-15
   days on market $195,000 Active 31 DOM
4. 2026-06-13
   days on market $195,000 Active 29 DOM
5. 2026-06-09
   days on market $195,000 Active 25 DOM
6. 2026-06-08
   pricedays on market $195,000 Active 24 DOM
7. 2026-06-07
   days on market $200,000 Active 23 DOM
8. 2026-06-04
   days on market $200,000 Active 20 DOM
9. 2026-06-03
   days on market $200,000 Active 19 DOM
10. 2026-06-02
    days on market $200,000 Active 18 DOM
11. 2026-06-01
    days on market $200,000 Active 17 DOM
12. 2026-05-31
    days on market $200,000 Active 16 DOM
13. 2026-05-15
    listed $200,000 Active
14. 2025-07-27
    historical $1,700
15. 2025-07-16
    listed $1,700
16. 2011-09-08
    soldstatus $47,000 511-char remark

    Show marketing remark (511 chars)

    on1 bedroom 1 bath condo located in a gated community. 2nd floor unit. Don't miss out on this great opportunity. Upgraded kitchen and bathroom. The seller may take up to 10 days to respond to offers. Please download the required offer documents from either the attachments section of MLS or the Taza Link located in the broker remarks. Please make sure all of the required documents listed on the coversheet are included in your offer submission. Please make sure all documents are uploaded as ONE file to Taza.

17. 2011-08-01
    historical 511-char remark

    Show marketing remark (511 chars)

    on1 bedroom 1 bath condo located in a gated community. 2nd floor unit. Don't miss out on this great opportunity. Upgraded kitchen and bathroom. The seller may take up to 10 days to respond to offers. Please download the required offer documents from either the attachments section of MLS or the Taza Link located in the broker remarks. Please make sure all of the required documents listed on the coversheet are included in your offer submission. Please make sure all documents are uploaded as ONE file to Taza.

18. 2011-07-11
    listed $46,000 511-char remark

    Show marketing remark (511 chars)

    on1 bedroom 1 bath condo located in a gated community. 2nd floor unit. Don't miss out on this great opportunity. Upgraded kitchen and bathroom. The seller may take up to 10 days to respond to offers. Please download the required offer documents from either the attachments section of MLS or the Taza Link located in the broker remarks. Please make sure all of the required documents listed on the coversheet are included in your offer submission. Please make sure all documents are uploaded as ONE file to Taza.

19. 2011-04-12
    historical
20. 2010-04-12
    listed $40,000

ⓘ 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: $2,747 · $229/mo
• Projected year-2 tax: $2,747 · $229/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 ≥106°F today · 24 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: $24,411
• − Mortgage interest: −$10,923
• − Property taxes: −$2,747
• − Insurance: −$975
• − Repairs & maintenance: −$1,953
• − Management: −$1,953
• − Depreciation: −$5,673
• Taxable income: $187
• Est. tax owed @ 24.0%: −$45
• After-tax cash flow: $3,246/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): 22,737
• Household income: $72,925
• Rent vs Own: 48.5% rent · 51.5% own
• Severe rent burden: 1211.0

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 0.64)
• Race & ethnicity: Black 48% White 35% Hispanic / Latino 13% Two or more races 10% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1% Cuban 1%
• Common ancestry: Hispanic 17% Romanian 2% Italian 2%
• Foreign-born: 24% · Canada, Jamaica
• Languages at home: 70% English-only · French/Haitian/Cajun 18% Spanish 11% Other Indo-European 1%

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: ▼ -743.16%
• Current HPI: 415.3247
• Rent YoY: ▲ 1.63%
• 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

+400.0% since first listed

8 events — show timeline

• 2026-05-15 Listed $200,000 MARMLS
• 2025-07-27 Rental Removed $1,700 MARMLS
• 2025-07-16 Listed for Rent $1,700 MARMLS
• 2011-09-08 Sold (MLS) $47,000 Beaches MLS
• 2011-08-01 Listing Removed — Beaches MLS
• 2011-07-11 Listed $46,000 Beaches MLS
• 2011-04-12 Listing Removed — Beaches MLS
• 2010-04-12 Listed $40,000 Beaches MLS

Property tax history

+7.2%/yr

Latest (2025): $2,747 · +5.6% YoY. Source: county tax records.