5368 Privet Pl Unit B · Delray Beach, FL 33484

$175,000

2 bd · 2.0 ba · 1,050 sqft · Condo public records · 136 Days on market

Built 1984 $610/mo HOA · 26% 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 +17.3/30.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Villa with Large bright rooms, screened rear patio with a natural setting to look out to, new central air cond. unit. Come make this a home for yourself with all Delray Beach has to offer, close to shopping, restaurants, beaches, downtown and the towns Marketplace. Everything you could want making it yours putting your taste into this home. Call for appointment.

Key facts

• Tennis
• Clubhouse
• Private backyard

Tags

• COVERED PATIO
• PRIVATE BACKYARD
• WASHER AND DRYER
• CLUBHOUSE
• TENNIS
• PICKLEBALL

Property features AI

Finance

• HOA & community: Community has an association; Monthly HOA fee; Association amenities include a clubhouse, shuffleboard court, tennis courts, and pickleball courts; HOA covers insurance, grounds maintenance, sewer, water, common areas, and recreation facility; Senior community

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Villa; One story; North-facing
• Construction: Built with concrete block (CBS)
• Exterior features: Covered patio; Screened patio; Patio

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Heating (type: other); Central air conditioning
• Interior features: Walk-in closets; Bedroom layout is split; Drapes
• Laundry & utility: Inside laundry in a laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $128 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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 fast (+4.3%/yr); 546 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 45% 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 $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 136 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $79k; list at $175k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 1.32% ✓
• Cap rate: 7.17%
• Cash-on-cash: 3.13%
• DSCR: 1.14
• GRM: 6.3

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: -9.2%
• Equity multiple: 0.66×
• Total profit: $-16,865
• Equity at exit: $26,093

10-year hold

• IRR: 2.6%
• Equity multiple: 1.20×
• Total profit: $9,874
• Equity at exit: $15,131

Cash invested: $49,000 (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: 546
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,314 high
• Mortgage (P&I): −$918
• Tax from tax record: −$100 /mo · $1,199/yr
• Insurance: −$73
• HOA: −$610
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $128

Break-even live

Break-even rent $2,153

Max offer price $175,000

Occupancy floor 89%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13682 Via Flora Unit H Delray Beach, FL	2.0	2.0	1097	$1,900	$1.73	24d	1	0.12mi
13990 Nesting Way Unit C Delray Beach, FL	1.0	2.0	1092	$2,300	$2.11	24d	1	0.17mi
5061 Nesting Way Unit D Delray Beach, FL	2.0	2.0	1255	$2,400	$1.91	24d	1	0.20mi
13670 Via Flora Delray Beach, FL	2.0	2.0	1021	$1,400	$1.37	15d	1	0.21mi
13670 Via Flora Delray Beach, FL	2.0	2.0	1021	$1,400	$1.37	24d	1	0.21mi
5462 Via Delray #123 Delray Beach, FL	2.0	2.0	1200	$2,700	$2.25	20d	1	0.22mi
5200 Privet Pl Unit C Delray Beach, FL	2.0	2.0	1457	$1,850	$1.27	24d	1	0.23mi
13721 Flora Pl Unit D Delray Beach, FL	2.0	2.0	1097	$1,900	$1.73	5d	1	0.23mi
13721 Flora Pl Unit D Delray Beach, FL	2.0	2.0	1097	$1,850	$1.69	24d	1	0.23mi
14040 Nesting Way Unit B Delray Beach, FL	1.0	2.0	1092	$1,700	$1.56	24d	1	0.24mi
13731 Flora Pl Unit A Delray Beach, FL	2.0	2.0	1097	$1,850	$1.69	24d	1	0.28mi
13741 Flora Pl Unit B Delray Beach, FL	2.0	2.0	989	$2,100	$2.12	21d	1	0.28mi
14139 Nesting Way Unit A Delray Beach, FL	2.0	2.0	1255	$2,200	$1.75	11d	1	0.29mi
13787 Flora Pl Unit A Delray Beach, FL	2.0	2.0	1097	$2,500	$2.28	24d	1	0.31mi
13653 Jubilee Ln Delray Beach, FL	3.0	2.0	1305	$3,450	$2.64	13d	1	0.31mi
5349 Lakefront Blvd Unit B Delray Beach, FL	1.0	2.0	1068	$1,800	$1.69	24d	1	0.35mi
13419 Noble Dr Delray Beach, FL	2.0	2.0	1410	$3,600	$2.55	17d	1	0.35mi
5093 Privet Pl Unit A-1 Delray Beach, FL	2.0	2.0	1220	$2,350	$1.93	24d	1	0.36mi
13759 Date Palm Ct Unit A Delray Beach, FL	2.0	2.0	1247	$3,500	$2.81	24d	1	0.38mi
13886 Via Flora Unit A Delray Beach, FL	2.0	2.0	1097	$2,075	$1.89	24d	1	0.39mi
5260 Grande Palm Cir Delray Beach, FL	3.0	2.0	1464	$2,800	$1.91	24d	1	0.41mi
13776 Hero Path Delray Beach, FL	3.0	2.0	1319	$3,400	$2.58	24d	1	0.41mi
5655 Via Delray Delray Beach, FL	2.0	2.0	1205	$2,200	$1.83	24d	1	0.42mi
5550 Nepsa Way Delray Beach, FL	1.0–3.0	1.0–2.0	1035	$2,776	$2.68	1d	12	0.43mi
13916 Via Flora Unit F Delray Beach, FL	2.0	2.0	989	$3,000	$3.03	24d	1	0.44mi
14050 Pacific Point Pl Delray Beach, FL	1.0–3.0	1.0–2.0	1033	$2,758	$2.67	1d	22	0.45mi
13657 Night Sky Pl Delray Beach, FL	2.0	2.0	1319	$3,200	$2.43	7d	1	0.50mi
13431 Amber Waves Ave Delray Beach, FL	2.0	2.0	1390	$3,500	$2.52	24d	1	0.51mi
5265 NW 3rd St Unit C Delray Beach, FL	1.0	1.5	1080	$2,200	$2.04	24d	1	0.54mi
5169 Lakefront Blvd Unit D Delray Beach, FL	2.0	2.0	1186	$2,300	$1.94	24d	1	0.55mi
5908 Via Delray Blvd Delray Beach, FL	2.0	2.0	1221	$2,000	$1.64	24d	1	0.56mi
5675 Queen Palm Ct Delray Beach, FL	2.0	2.0	1200	$2,600	$2.17	24d	1	0.56mi
14629 Canalview Dr Unit C Delray Beach, FL	1.0	2.0	1068	$1,600	$1.50	24d	1	0.58mi
14676 Canalview Dr Unit C Delray Beach, FL	1.0	2.0	1068	$1,775	$1.66	24d	1	0.58mi
5385 Lakefront Blvd Unit A Delray Beach, FL	2.0	2.0	1186	$2,200	$1.85	24d	1	0.58mi
4477 NW 3rd Dr Delray Beach, FL	2.0	1.5	1109	$2,550	$2.30	24d	1	0.61mi
1418 W Wickham Cir Unit B Delray Beach, FL	3.0	2.5	1316	$3,200	$2.43	17d	1	0.62mi
5126 Lakefront Blvd Unit D Delray Beach, FL	2.0	2.0	1186	$2,500	$2.11	20d	1	0.63mi
4809 N Wickham Cir Unit A Delray Beach, FL	2.0	2.0	1028	$2,600	$2.53	24d	1	0.64mi
5030 Lakefront Blvd Unit D Delray Beach, FL	2.0	2.0	1287	$1,700	$1.32	24d	1	0.65mi

HOA detail condo

• Monthly dues: $610 · $7,320/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $175,000 Active 136 DOM
2. 2026-06-17
   days on market $175,000 Active 135 DOM
3. 2026-06-16
   days on market $175,000 Active 134 DOM
4. 2026-06-15
   days on market $175,000 Active 133 DOM
5. 2026-06-13
   days on market $175,000 Active 131 DOM
6. 2026-06-09
   days on market $175,000 Active 127 DOM
7. 2026-06-07
   days on market $175,000 Active 125 DOM
8. 2026-06-04
   days on market $175,000 Active 122 DOM
9. 2026-06-03
   days on market $175,000 Active 121 DOM
10. 2026-06-01
    days on market $175,000 Active 119 DOM
11. 2026-05-31
    days on market $175,000 Active 118 DOM
12. 2026-05-04
    status Active
13. 2026-05-04
    price $175,000
14. 2026-04-21
    historical
15. 2026-01-20
    listed $180,000 Active
16. 2016-12-08
    soldstatus $79,000
17. 2016-12-02
    soldstatus $79,000 Closed 364-char remark

    Show marketing remark (364 chars)

    Villa with Large bright rooms, screened rear patio with a natural setting to look out to, new central air cond. unit. Come make this a home for yourself with all Delray Beach has to offer, close to shopping, restaurants, beaches, downtown and the towns Marketplace. Everything you could want making it yours putting your taste into this home. Call for appointment.

18. 2016-10-31
    status Pending 364-char remark

    Show marketing remark (364 chars)

    Villa with Large bright rooms, screened rear patio with a natural setting to look out to, new central air cond. unit. Come make this a home for yourself with all Delray Beach has to offer, close to shopping, restaurants, beaches, downtown and the towns Marketplace. Everything you could want making it yours putting your taste into this home. Call for appointment.

19. 2016-10-11
    listed $89,000 Active 364-char remark

    Show marketing remark (364 chars)

    Villa with Large bright rooms, screened rear patio with a natural setting to look out to, new central air cond. unit. Come make this a home for yourself with all Delray Beach has to offer, close to shopping, restaurants, beaches, downtown and the towns Marketplace. Everything you could want making it yours putting your taste into this home. Call for appointment.

20. 1983-09-01
    soldstatus $64,000

ⓘ 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: $1,199 · $100/mo
• Projected year-2 tax: $1,452 · $121/mo
• Expected delta: +$254/yr (+$21/mo · 21.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 23 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: $27,772
• − Mortgage interest: −$9,803
• − Property taxes: −$1,199
• − Insurance: −$875
• − Repairs & maintenance: −$2,222
• − Management: −$2,222
• − HOA: −$7,320
• − Depreciation: −$5,091
• Taxable loss: −$959
• Est. tax savings @ 24.0%: +$230
• After-tax cash flow: $1,763/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

+173.4% since first listed

9 events — show timeline

• 2026-05-04 Relisted — Beaches MLS
• 2026-05-04 Price Changed $175,000 Beaches MLS
• 2026-04-21 Listing Removed — Beaches MLS
• 2026-01-20 Listed $180,000 Beaches MLS
• 2016-12-08 Sold (Public Records) $79,000 Public Records
• 2016-12-02 Sold (MLS) $79,000 Beaches MLS
• 2016-10-31 Pending — Beaches MLS
• 2016-10-11 Listed $89,000 Beaches MLS
• 1983-09-01 Sold (Public Records) $64,000 Public Records

Property tax history

-0.2%/yr

Latest (2025): $1,199 · +4.0% YoY. Source: county tax records.