897 Flanders S #897 · Delray Beach, FL 33484

$140,000

2 bd · 2.0 ba · 760 sqft · Condo · 109 Days on market

Built 1978 $743/mo HOA · 38% of rent

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Why this score? — see what drove the D- 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).

• 1% rule +8.9/10.0
• Cash flow +7.5/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

You will look forward to your morning coffee from the screened in terrace with its relaxing garden view. 2 bedrooms and 2 full baths on 2nd floor. Freshly painted interior. Come live at Kings Point with Amazing amenities including Gym, indoor and outdoor pool, clubhouse, lots of guest parking, tennis courts. Must see to appreciate. 55+ community.

Key facts

• Updated appliances
• New a/c unit
• Private balcony

Tags

• PRIVATE BALCONY
• NEW A/C UNIT
• UPDATED APPLIANCES
• LAUNDRY CLOSET
• CHAMPIONSHIP GOLF CLUB
• SPARKLING SWIMMING POOLS

Property features AI

Finance

• HOA & community: HOA with monthly fee; HOA includes insurance and recreation facility; Community amenities: fitness center, pool, cafe/restaurant, courtesy bus, pickleball courts, putting green, street lights; Senior community; Pets not allowed

Exterior

• Parking: 1 open parking space
• Security: Gated community with guard
• Utilities: Public sewer; Cable available; Water available; Sewer available
• Home design: Condominium; Single-story; North-facing; Resale
• Construction: Concrete construction
• Exterior features: Screened patio; Patio; Zero lot line

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Electric cooling; Ceiling fans
• Interior features: Walk-in closets; Custom mirrors; Furnished
• Laundry & utility: Laundry closet inside the unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $-172 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (17.8% below list).
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $115k (17.8% below list) — sets the bar for cash-flow.

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: Orchard View Elementary School (math 48% / reading 47%, grade D, #1,182 of 2,144 statewide, top 55%, 596 students, 76% FRL); Carver Middle School (math 22% / reading 34%, grade F, #486 of 571 statewide, top 86%, 732 students, 73% FRL); Spanish River Community High School (math 64% / reading 74%, grade B, #63 of 667 statewide, top 10%, 2,578 students, 25% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 543 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 38% of the median local income ($62k/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 $968 of loan paydown is wiped out by about $4k 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 109 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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: HOA is 38% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,115 (17.8% below list)

Questions for the listing agent

1. 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?
2. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
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: 1.39% ✓
• Cap rate: 4.82%
• Cash-on-cash: -5.26%
• DSCR: 0.77
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.28% rent growth · sell at horizon

5-year hold

• IRR: -22.1%
• Equity multiple: 0.22×
• Total profit: $-30,613
• Equity at exit: $20,874

10-year hold

• IRR: -10.6%
• Equity multiple: 0.28×
• Total profit: $-28,088
• Equity at exit: $12,105

Cash invested: $39,200 (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 33484

• Rents YoY: 4.3%
• Active inventory: 543
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,948 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$743
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $-172

Break-even live

Break-even rent $2,165

Max offer price $115,115

Occupancy floor —

Sensitivity live

Price	-10% $-75	-5% $-124	+0% $-172	+5% $-220	+10% $-269
Rent	-10% $-326	-5% $-249	+0% $-172	+5% $-95	+10% $-18
Rate	-1.0pp $-101	-0.5pp $-136	base $-172	+0.5pp $-208	+1.0pp $-245

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
960 Flanders T Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	26d	1	0.05mi
811 Flanders Q Delray Beach, FL	2.0	2.0	920	$1,700	$1.85	5d	1	0.07mi
811 Flanders Q Delray Beach, FL	2.0	2.0	920	$1,700	$1.85	15d	1	0.07mi
98 Capri C Delray Beach, FL	1.0	1.5	795	$1,695	$2.13	26d	1	0.17mi
207 Capri E #207 Delray Beach, FL	2.0	2.0	910	$1,700	$1.87	9d	1	0.18mi
556 Capri L Unit L Delray Beach, FL	2.0	2.0	910	$1,575	$1.73	26d	1	0.20mi
177 Flanders Dr Unit 177 Delray Beach, FL	2.0	2.0	920	$1,600	$1.74	26d	1	0.21mi
697 Flanders O Delray Beach, FL	1.0	1.5	760	$1,400	$1.84	3d	1	0.21mi
278 Flanders Dr Unit 278 Delray Beach, FL	1.0	1.5	828	$1,290	$1.56	26d	1	0.22mi
173 Flanders Dr Unit 173 Delray Beach, FL	2.0	2.0	920	$2,400	$2.61	26d	1	0.22mi
457 Flanders Dr Unit 457 Delray Beach, FL	1.0	1.5	760	$2,800	$3.68	26d	1	0.22mi
115 Capri B Unit 115 Delray Beach, FL	2.0	2.0	1044	$2,000	$1.92	26d	1	0.22mi
205 Flanders Dr Unit 205 Delray Beach, FL	2.0	2.0	883	$1,750	$1.98	26d	1	0.22mi
560 Capri Ln Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	26d	1	0.22mi
66 Capri B Unit B Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	16d	1	0.22mi
166 Piedmont Way Delray Beach, FL	2.0	2.0	910	$1,600	$1.76	26d	1	0.24mi
137 Piedmont Way Unit 137 Delray Beach, FL	2.0	2.0	1040	$2,300	$2.21	12d	1	0.24mi
974 Normandy Trl #974 Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	26d	1	0.25mi
522 Capri K Unit K Delray Beach, FL	1.0	1.5	730	$1,350	$1.85	26d	1	0.25mi
794 Normandy Q Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	18d	1	0.26mi
66 Capri B #66 Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	20d	1	0.26mi
468 Capri J Delray Beach, FL	2.0	2.0	910	$1,400	$1.54	26d	1	0.27mi
176 Piedmont D Delray Beach, FL	2.0	2.0	910	$1,600	$1.76	26d	1	0.29mi
719 Flanders O Delray Beach, FL	2.0	2.0	920	$1,800	$1.96	26d	1	0.29mi
523 Piedmont E Unit 523 Delray Beach, FL	2.0	2.0	1044	$1,750	$1.68	26d	1	0.29mi
507 Capri Dr Delray Beach, FL	2.0	2.0	910	$2,200	$2.42	26d	1	0.30mi
509 Capri Dr Unit 509 Delray Beach, FL	2.0	2.0	910	$2,500	$2.75	3d	1	0.30mi
120 Normandy C Delray Beach, FL	1.0	1.5	760	$1,575	$2.07	1d	1	0.30mi
177 Flanders D Delray Beach, FL	2.0	2.0	920	$1,600	$1.74	26d	1	0.31mi
595 Normandy M Delray Beach, FL	2.0	2.0	907	$1,750	$1.93	26d	1	0.34mi
224 Piedmont F #224 Delray Beach, FL	1.0	1.5	760	$1,200	$1.58	26d	1	0.34mi
341 Piedmont H Unit H Delray Beach, FL	2.0	2.0	907	$1,650	$1.82	15d	1	0.34mi
499 Piedmont K Delray Beach, FL	2.0	2.0	907	$2,800	$3.09	26d	1	0.34mi
344 Piedmont Trl Delray Beach, FL	2.0	2.0	910	$1,600	$1.76	26d	1	0.35mi
322 Piedmont G Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	15d	1	0.35mi
322 Piedmont G Delray Beach, FL	2.0	2.0	910	$1,800	$1.98	9d	1	0.35mi
29 Burgundy a Delray Beach, FL	2.0	2.0	902	$1,800	$2.00	26d	1	0.35mi
930 Normandy T Delray Beach, FL	1.0	1.5	760	$2,800	$3.68	9d	1	0.36mi
949 Normandy Trl Unit 949 Delray Beach, FL	2.0	2.0	907	$3,500	$3.86	26d	1	0.37mi
514 Piedmont K Unit k Delray Beach, FL	1.0	1.5	792	$1,690	$2.13	4d	1	0.37mi

HOA detail condo

• Monthly dues: $743 · $8,916/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-21
   days on market $140,000 Active 109 DOM
2. 2026-06-18
   days on market $140,000 Active 106 DOM
3. 2026-06-17
   days on market $140,000 Active 105 DOM
4. 2026-06-16
   days on market $140,000 Active 104 DOM
5. 2026-06-15
   days on market $140,000 Active 103 DOM
6. 2026-06-13
   days on market $140,000 Active 101 DOM
7. 2026-06-09
   days on market $140,000 Active 97 DOM
8. 2026-06-08
   days on market $140,000 Active 96 DOM
9. 2026-06-07
   days on market $140,000 Active 95 DOM
10. 2026-06-04
    days on market $140,000 Active 92 DOM
11. 2026-06-03
    days on market $140,000 Active 91 DOM
12. 2026-06-02
    days on market $140,000 Active 90 DOM
13. 2026-06-01
    days on market $140,000 Active 89 DOM
14. 2026-05-31
    days on market $140,000 Active 88 DOM
15. 2026-03-04
    historical
16. 2026-03-04
    listed $140,000 Active
17. 2025-09-03
    listed $140,000 Active
18. 2022-05-13
    soldstatus $130,000 Closed 348-char remark

    Show marketing remark (348 chars)

    You will look forward to your morning coffee from the screened in terrace with its relaxing garden view. 2 bedrooms and 2 full baths on 2nd floor. Freshly painted interior. Come live at Kings Point with Amazing amenities including Gym, indoor and outdoor pool, clubhouse, lots of guest parking, tennis courts. Must see to appreciate. 55+ community.

19. 2022-04-13
    status Pending 348-char remark

    Show marketing remark (348 chars)

    You will look forward to your morning coffee from the screened in terrace with its relaxing garden view. 2 bedrooms and 2 full baths on 2nd floor. Freshly painted interior. Come live at Kings Point with Amazing amenities including Gym, indoor and outdoor pool, clubhouse, lots of guest parking, tennis courts. Must see to appreciate. 55+ community.

20. 2022-04-10
    listed $139,000 Active 348-char remark

    Show marketing remark (348 chars)

    You will look forward to your morning coffee from the screened in terrace with its relaxing garden view. 2 bedrooms and 2 full baths on 2nd floor. Freshly painted interior. Come live at Kings Point with Amazing amenities including Gym, indoor and outdoor pool, clubhouse, lots of guest parking, tennis courts. Must see to appreciate. 55+ community.

21. 2022-04-07
    historical $139,000 348-char remark

    Show marketing remark (348 chars)

    You will look forward to your morning coffee from the screened in terrace with its relaxing garden view. 2 bedrooms and 2 full baths on 2nd floor. Freshly painted interior. Come live at Kings Point with Amazing amenities including Gym, indoor and outdoor pool, clubhouse, lots of guest parking, tennis courts. Must see to appreciate. 55+ community.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥107°F today · 26 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: $23,370
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,870
• − Management: −$1,870
• − HOA: −$8,916
• − Depreciation: −$4,073
• Taxable loss: −$4,000
• Est. tax savings @ 24.0%: +$960
• After-tax cash flow: $-1,104/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): 26,208
• Household income: $62,151
• Rent vs Own: 19.0% rent · 81.0% own
• Severe rent burden: 991.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 10% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Scotch-Irish 7% Romanian 6% Italian 2%
• Foreign-born: 23% · Canada, Jamaica, China
• Languages at home: 76% English-only · Spanish 13% Russian/Polish/Slavic 3% French/Haitian/Cajun 3%

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: ▼ -232.73%
• Current HPI: 254.5016
• Rent YoY: ▲ 4.28%
• 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

+0.7% since first listed

7 events — show timeline

• 2026-03-04 Listing Removed — Beaches MLS
• 2026-03-04 Listed $140,000 Beaches MLS
• 2025-09-03 Listed $140,000 Beaches MLS
• 2022-05-13 Sold (MLS) $130,000 Beaches MLS
• 2022-04-13 Pending — Beaches MLS
• 2022-04-10 Listed $139,000 Beaches MLS
• 2022-04-07 Coming Soon $139,000 Beaches MLS