1421 NW 20th Ave #204 · Delray Beach, FL 33445

$169,000

2 bd · 2.0 ba · 1,148 sqft · Condo public records · 58 Days on market

Built 1979 $587/mo HOA · 23% of rent

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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 +20.2/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Sunny and Bright end unit condo available in the meticulously maintained over 55 community, The Pines of Delray North. This is a very active community including clubs, activities and amenities to appeal to the active adult. The Pines is under 3 miles to the infamous Atlantic Avenue for shopping, art galleries and popular restaurants appealing to all tastes. To enjoy those sunny days, the beautiful Delray Beaches also a short trip from home!

Key facts

• $587 HOA
• 2 parking spots
• Community pool

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Has association; monthly fee; Association amenities include pool, spa/hot tub, sauna, fitness center, clubhouse, community room, library, billiard and game rooms, management/on-site manager, picnic area, putting green, bocce ball, tennis courts, pickleball courts, shuffleboard court; HOA fee covers cable TV, maintenance of grounds, security, sewer, trash, water, and common areas; Community contains approximately 700 units; Senior community

Exterior

• Parking: 2 parking spaces; Assigned parking and guest parking
• Security: Gated community with guard; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; Water and sewer available
• Home design: Condominium; Multi/split levels; 2 total stories; Faces east
• Construction: CBS construction; Composition/shingle roof
• Exterior features: Entry-level living area; Not waterfront

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fan(s); Humidity control
• Interior features: Walk-in closet(s); Blinds
• Laundry & utility: Inside laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $169k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $169k).
• Recommended offer: $164k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 4.4% 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: Crosspointe Elementary School (math 36% / reading 45%, grade F, #1,471 of 2,144 statewide, top 69%, 652 students, 75% FRL); Atlantic High School (math 28% / reading 52%, grade F, #296 of 667 statewide, top 45%, 1,889 students, 59% FRL) — zoned schools average 67% FRL vs 52% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 354 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).
• This rent runs 39% of the median local income ($78k/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 $5k 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 58 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 27y ago; this cycle's ask is 9289% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $108k; list at $169k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% 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 $163,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 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 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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. 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.
9. 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.
10. 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: 1.50% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.44%
• DSCR: 1.24
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.83% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.66×
• Total profit: $-16,254
• Equity at exit: $25,198

10-year hold

• IRR: -2.2%
• Equity multiple: 0.86×
• Total profit: $-6,669
• Equity at exit: $14,612

Cash invested: $47,320 (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 33445

• Rents YoY: 1.8%
• Active inventory: 354
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,529 high
• Mortgage (P&I): −$886
• Tax from tax record: −$240 /mo · $2,875/yr
• Insurance: −$70
• HOA: −$587
• Vacancy / Maint / Mgmt: −$531
• Net cashflow: $214

Break-even live

Break-even rent $2,257

Max offer price $169,000

Occupancy floor 87%

Sensitivity live

Price	-10% $310	-5% $262	+0% $214	+5% $167	+10% $119
Rent	-10% $15	-5% $115	+0% $214	+5% $314	+10% $414
Rate	-1.0pp $300	-0.5pp $257	base $214	+0.5pp $171	+1.0pp $126

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1631 NW 18th Ave #201 Delray Beach, FL	2.0	2.0	1148	$3,300	$2.87	25d	1	0.17mi
1441 NW 19th Ter #201 Delray Beach, FL	2.0	2.0	1148	$2,250	$1.96	25d	1	0.18mi
1560 NW 18th Ave #104 Delray Beach, FL	2.0	2.0	1148	$2,100	$1.83	22d	1	0.19mi
1560 NW 18th Ave #104 Delray Beach, FL	2.0	2.0	1148	$2,100	$1.83	21d	1	0.19mi
1520 NW 19th Ter #203 Delray Beach, FL	2.0	2.0	1335	$2,200	$1.65	25d	1	0.19mi
1860 NW 13th St #201 Delray Beach, FL	2.0	2.0	1335	$2,800	$2.10	25d	1	0.19mi
1551 NW 20th Ave #102 Delray Beach, FL	2.0	2.0	1148	$1,995	$1.74	25d	1	0.25mi
1641 NW 19th Ter Unit 46A Delray Beach, FL	2.0	2.0	1104	$2,000	$1.81	19d	1	0.28mi
1640 NW 19th Ter #103 Delray Beach, FL	2.0	2.0	1148	$1,950	$1.70	8d	1	0.28mi
1640 NW 19th Ter #103 Delray Beach, FL	2.0	2.0	1148	$1,950	$1.70	22d	1	0.28mi
1440 NW 20th Ave #104 Delray Beach, FL	2.0	2.0	1335	$2,650	$1.99	14d	1	0.28mi
169 Monterey Bay Dr Boynton Beach, FL	3.0	2.5	1389	$2,800	$2.02	25d	1	0.39mi
169 Monterey Bay Dr Boynton Beach, FL	3.0	2.5	1389	$2,800	$2.02	15d	1	0.39mi
340 Lake Monterey Cir Boynton Beach, FL	2.0	2.5	1188	$2,350	$1.98	25d	1	0.40mi
161 Monterey Bay Dr #161 Boynton Beach, FL	2.0	2.5	1188	$2,300	$1.94	25d	1	0.41mi
161 Monterey Bay Dr #161 Boynton Beach, FL	2.0	2.5	1188	$2,200	$1.85	3d	1	0.41mi
161 Monterey Bay Dr #161 Boynton Beach, FL	2.0	2.5	1188	$2,250	$1.89	14d	1	0.41mi
161 Monterey Bay Dr Boynton Beach, FL	2.0	2.5	1188	$2,300	$1.94	4d	1	0.41mi
161 Monterey Bay Dr Boynton Beach, FL	2.0	2.5	1188	$2,300	$1.94	19d	1	0.41mi
182 Lake Monterey Cir Boynton Beach, FL	2.0	2.5	1423	$2,500	$1.76	25d	1	0.49mi
182 Lake Monterey Cir Boynton Beach, FL	2.0	2.5	1423	$2,500	$1.76	22d	1	0.49mi
400 Lake Monterey Cir Boynton Beach, FL	2.0	2.5	1144	$2,400	$2.10	11d	1	0.49mi
500 N Congress Ave Delray Beach, FL	2.0–3.0	1.0–2.0	989	$2,295	$2.32	0d	6	0.61mi
2583 NW 13th St Delray Beach, FL	2.0	2.0	1466	$2,600	$1.77	18d	1	0.68mi
1335 Lee St Delray Beach, FL	3.0	2.0	1000	$3,200	$3.20	25d	1	0.71mi
1720 Depot Ave Delray Beach, FL	2.0	2.0	1189	$2,650	$2.23	25d	1	0.74mi
1720 Depot Ave Delray Beach, FL	2.0	2.0	1199	$2,874	$2.40	14d	1	0.74mi
1502 NW 4th Ave Delray Beach, FL	3.0	2.0	1468	$6,800	$4.63	17d	1	0.77mi
2622 NW 7th Ct Delray Beach, FL	2.0	2.5	1384	$2,750	$1.99	25d	1	0.80mi
2915 NW 12th St Unit D Delray Beach, FL	2.0	2.0	1499	$3,200	$2.13	8d	1	0.85mi
872 NW 29th Ave Unit A Delray Beach, FL	2.0	2.0	1188	$2,700	$2.27	25d	1	0.87mi
231 NW 14th Ave Delray Beach, FL	3.0	2.0	1250	$4,950	$3.96	8d	1	0.87mi
351 NW 8th Ave Delray Beach, FL	3.0	2.0	1348	$3,600	$2.67	11d	1	0.90mi
351 NW 8th Ave Delray Beach, FL	3.0	2.0	1348	$3,600	$2.67	2d	1	0.90mi
210 NW 13th Ave Delray Beach, FL	2.0	1.0	800	$2,200	$2.75	25d	1	0.93mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	18d	1	1.00mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	25d	1	1.00mi
320 NW 6th Ave Delray Beach, FL	3.0	2.0	1032	$3,400	$3.29	25d	1	1.01mi
227 Coral Trace Ln Unit 227 Delray Beach, FL	2.0	2.0	1376	$3,100	$2.25	25d	1	1.01mi
2480 S Coral Trace Cir Delray Beach, FL	2.0	2.0	1379	$2,900	$2.10	8d	1	1.06mi

HOA detail condo

• Monthly dues: $587 · $7,044/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 36 events

1. 2026-06-18
   days on market $169,000 Active 58 DOM
2. 2026-06-17
   days on market $169,000 Active 57 DOM
3. 2026-06-16
   days on market $169,000 Active 56 DOM
4. 2026-06-15
   days on market $169,000 Active 55 DOM
5. 2026-06-13
   days on market $169,000 Active 53 DOM
6. 2026-06-09
   days on market $169,000 Active 49 DOM
7. 2026-06-08
   days on market $169,000 Active 48 DOM
8. 2026-06-07
   days on market $169,000 Active 47 DOM
9. 2026-06-04
   days on market $169,000 Active 44 DOM
10. 2026-06-03
    days on market $169,000 Active 43 DOM
11. 2026-06-02
    days on market $169,000 Active 42 DOM
12. 2026-06-01
    days on market $169,000 Active 41 DOM
13. 2026-05-31
    days on market $169,000 Active 40 DOM
14. 2026-04-23
    listed $1,800
15. 2026-04-21
    listed $169,000 Active
16. 2026-03-20
    historical $1,800
17. 2026-02-12
    historical
18. 2025-09-20
    listed $1,800
19. 2025-08-11
    listed $175,000 Active
20. 2019-05-15
    soldstatus $108,500
21. 2017-05-16
    historical
22. 2014-10-30
    historical
23. 2004-04-20
    listed $105,000
24. 2003-07-28
    soldstatus $78,000
25. 2003-07-18
    soldstatus $78,000
26. 2003-05-15
    historical
27. 2003-03-24
    listed $83,900
28. 2001-12-14
    listed $54,900
29. 2001-12-14
    historical
30. 2001-10-15
    listed $54,900
31. 2001-10-15
    historical
32. 2001-08-07
    listed $54,900
33. 2000-03-08
    soldstatus $32,000
34. 2000-03-02
    soldstatus $32,000
35. 2000-02-01
    historical
36. 1999-01-21
    listed $36,900

ⓘ 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: $2,875 · $240/mo
• Projected year-2 tax: $2,875 · $240/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 10/10 Extreme 7 d/yr ≥105°F today · 26 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: $30,345
• − Mortgage interest: −$9,467
• − Property taxes: −$2,875
• − Insurance: −$845
• − Repairs & maintenance: −$2,428
• − Management: −$2,428
• − HOA: −$7,044
• − Depreciation: −$4,916
• Taxable income: $343
• Est. tax owed @ 24.0%: −$82
• After-tax cash flow: $2,491/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): 33,122
• Household income: $78,163
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1649.0

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 0.62)
• Race & ethnicity: White 55% Black 24% Hispanic / Latino 11% Two or more races 11% Asian 4%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2%
• Common ancestry: Hispanic 14% Romanian 3% Scotch-Irish 3%
• Foreign-born: 27% · Canada, Jamaica, Dominican Republic
• Languages at home: 66% English-only · French/Haitian/Cajun 18% Spanish 9% Other Indo-European 4%

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: ▼ -258.16%
• Current HPI: 349.5505
• Rent YoY: ▲ 1.83%
• 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

-95.1% since first listed

23 events — show timeline

• 2026-04-23 Listed for Rent $1,800 RMLSFL
• 2026-04-21 Listed $169,000 Beaches MLS
• 2026-03-20 Rental Removed $1,800 GFLMLS
• 2026-02-12 Listing Removed — Beaches MLS
• 2025-09-20 Listed for Rent $1,800 GFLMLS
• 2025-08-11 Listed $175,000 Beaches MLS
• 2019-05-15 Sold (Public Records) $108,500 Public Records
• 2017-05-16 Listing Removed — Beaches MLS
• 2014-10-30 Listing Removed — Beaches MLS
• 2004-04-20 Listed $105,000 Beaches MLS
• 2003-07-28 Sold (Public Records) $78,000 Public Records
• 2003-07-18 Sold (MLS) $78,000 Beaches MLS
• 2003-05-15 Listing Removed — Beaches MLS
• 2003-03-24 Listed $83,900 Beaches MLS
• 2001-12-14 Listing Removed — Beaches MLS
• 2001-12-14 Listed $54,900 Beaches MLS
• 2001-10-15 Listing Removed — Beaches MLS
• 2001-10-15 Listed $54,900 Beaches MLS
• 2001-08-07 Listed $54,900 Beaches MLS
• 2000-03-08 Sold (Public Records) $32,000 Public Records
• 2000-03-02 Sold (MLS) $32,000 Beaches MLS
• 2000-02-01 Listing Removed — Beaches MLS
• 1999-01-21 Listed $36,900 Beaches MLS

Property tax history

+14.4%/yr

Latest (2025): $2,875 · +7.6% YoY. Source: county tax records.