21 Saxony A #21 · Delray Beach, FL 33446

$78,000

2 bd · 2.0 ba · 880 sqft · Condo · 283 Days on market

Built 1974 $806/mo HOA · 42% of rent

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Why this score? — see what drove the B- 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 +24.9/30.0
• 1% rule +10.0/10.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Listing remarks

Amazing value! Recently improved in price, well maintained first floor unit ready to be called Home. 2/2 Remodeled, fresh painted, spacious living and dining room area with an open kitchen, granite countertop, stainless steel appliances, ceramic floor throughout. No popcorn ceiling. Other fixture include new washer and dryer. Assigned parking conveniently steps from the unit. Located in a well-maintained adult gated community with fantastic amenities, club house, theater, indoor and outdoor pools, golf course, tennis, gym, cafe, salon, pickle ball court, billiards and more! Close to restaurants, shoppings, drs offices, entertainments, etc. Kings Point also provides a courtesy bus to shoppin

Key facts

• Ground floor
• Ceramic floors
• Ss appliances

Tags

• GROUND FLOOR
• OPEN KITCHEN
• SS APPLIANCES
• CERAMIC FLOORS
• NEW WASHER
• NEW DRYER

Property features AI

Finance

• Financial info: Pets allowed with restrictions or conditions
• HOA & community: Monthly association fee; Association amenities include clubhouse, fitness center, billiard room, basketball court, pickleball, pool, and tennis courts; Association fee covers amenities, common areas, and cable TV

Exterior

• Parking: Assigned parking
• Security: Secured lobby
• Utilities: Cable available
• Home design: Condominium/attached property; 2 stories; Entry on level 1; Resale property
• Construction: Block construction
• Exterior features: Fenced; Tennis court(s); Association heated pool

Interior

• Kitchen: Dishwasher; Garbage disposal
• Bedrooms: Bedroom on main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Electric heating
• Interior features: First-floor entry; Elevator; Bedroom on main level; Updated/remodeled
• Laundry & utility: Washer hookup; Dryer hookup; Dryer (present)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $78k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $78k).
• Recommended offer: $69k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 flat; 577 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); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($539 loan paydown + $536 appreciation (0.7% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.7% appreciation + 0.5% rent growth), your $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 283 days — a 12% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago; this cycle's ask has dropped $11k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $78k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 2→8/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 283 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.46% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.24%
• DSCR: 1.41
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.69% appreciation · 0.51% rent growth · sell at horizon

5-year hold

• IRR: 6.5%
• Equity multiple: 1.31×
• Total profit: $6,824
• Equity at exit: $25,364

10-year hold

• IRR: 7.5%
• Equity multiple: 1.77×
• Total profit: $16,789
• Equity at exit: $32,751

Cash invested: $21,840 (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 33446

• Home prices YoY: 0.3%
• Rents YoY: 0.5%
• Active inventory: 577
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,915 high
• Mortgage (P&I): −$409
• Tax est. 1.5%: −$98 /mo · $1,170/yr
• Insurance: −$32
• HOA: −$806
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $168

Break-even live

Break-even rent $1,703

Max offer price $78,000

Occupancy floor 86%

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
52 Saxony Cir Unit 52 Delray Beach, FL	2.0	2.0	1027	$3,200	$3.12	24d	1	0.07mi
99 Saxony C Delray Beach, FL	1.0	1.5	720	$2,500	$3.47	24d	1	0.07mi
151 Saxony D Delray Beach, FL	1.0	1.5	726	$1,500	$2.07	12d	1	0.08mi
211 Saxony Ln #211 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	7d	1	0.09mi
23 Flanders a Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	24d	1	0.11mi
669 Monaco N Delray Beach, FL	2.0	2.0	880	$1,700	$1.93	24d	1	0.12mi
321 Saxony G Delray Beach, FL	2.0	2.0	880	$2,200	$2.50	4d	1	0.13mi
352 Saxony Trl Unit 352 Delray Beach, FL	2.0	2.0	907	$2,000	$2.21	24d	1	0.13mi
370 Saxony H Delray Beach, FL	1.0	1.5	726	$1,500	$2.07	5d	1	0.15mi
29 Flanders a Delray Beach, FL	2.0	2.0	760	$1,900	$2.50	24d	1	0.15mi
23 Saxony a Delray Beach, FL	1.0	1.5	726	$1,300	$1.79	7d	1	0.16mi
594 Saxony Trl Unit 594 Delray Beach, FL	1.0	1.5	720	$1,650	$2.29	24d	1	0.16mi
662 Saxony N Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	20d	1	0.16mi
445 Saxony Way #445 Delray Beach, FL	2.0	2.0	883	$1,550	$1.76	24d	1	0.16mi
189 Saxony Trl Unit 189 Delray Beach, FL	2.0	2.0	880	$1,475	$1.68	22d	1	0.16mi
594 Saxony Trl Unit 594 Delray Beach, FL	1.0	1.5	720	$1,550	$2.15	2d	1	0.16mi
123 Saxony C Delray Beach, FL	1.0	1.5	720	$2,500	$3.47	24d	1	0.16mi
564 Saxony Dr #564 Delray Beach, FL	2.0	2.0	880	$2,200	$2.50	4d	1	0.16mi
516 Saxony K Delray Beach, FL	2.0	2.0	880	$1,450	$1.65	24d	1	0.16mi
569 Monaco L Delray Beach, FL	2.0	2.0	880	$1,500	$1.70	24d	1	0.18mi
679 Saxony Way Delray Beach, FL	1.0	1.5	720	$1,600	$2.22	5d	1	0.20mi
401 Monaco Way Unit 401 Delray Beach, FL	2.0	2.0	920	$1,950	$2.12	24d	1	0.21mi
482 Monaco Blvd #482 Delray Beach, FL	1.0	1.5	726	$1,400	$1.93	24d	1	0.22mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	18d	1	0.22mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	12d	1	0.22mi
468 Saxony J Delray Beach, FL	2.0	2.0	907	$1,850	$2.04	24d	1	0.22mi
451 Monaco Blvd Unit J Delray Beach, FL	1.0	1.5	720	$1,599	$2.22	24d	1	0.22mi
581 Monaco Blvd Unit 581 Delray Beach, FL	2.0	2.0	880	$2,000	$2.27	24d	1	0.22mi
711 Monaco O Delray Beach, FL	1.0	1.5	720	$1,550	$2.15	24d	1	0.22mi
459 Monaco Blvd Unit 459 Delray Beach, FL	1.0	1.5	720	$1,500	$2.08	20d	1	0.22mi
153 Monaco D Delray Beach, FL	2.0	2.0	880	$1,750	$1.99	16d	1	0.23mi
127 Flanders C Delray Beach, FL	1.0	1.5	760	$1,550	$2.04	24d	1	0.23mi
492 Piedmont Ct Delray Beach, FL	2.0	2.0	1040	$2,200	$2.12	24d	1	0.25mi
195 Monaco E Delray Beach, FL	1.0	1.5	728	$1,550	$2.13	24d	1	0.26mi
514 Piedmont K Delray Beach, FL	1.0	1.5	792	$1,690	$2.13	24d	1	0.26mi
514 Piedmont K Unit k Delray Beach, FL	1.0	1.5	792	$1,690	$2.13	3d	1	0.26mi
459 Monaco J #459 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	1d	1	0.27mi
185 Valencia H Delray Beach, FL	2.0	2.0	883	$1,700	$1.93	24d	1	0.28mi
175 Valencia H Delray Beach, FL	1.0	1.5	726	$1,500	$2.07	7d	1	0.28mi
344 Piedmont Trl Delray Beach, FL	2.0	2.0	910	$1,600	$1.76	24d	1	0.30mi

HOA detail condo

• Monthly dues: $806 · $9,672/yr
• Likely covers: poolgymsecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-18
   days on market $78,000 Active 283 DOM
2. 2026-06-17
   days on market $78,000 Active 282 DOM
3. 2026-06-16
   days on market $78,000 Active 281 DOM
4. 2026-06-15
   days on market $78,000 Active 280 DOM
5. 2026-06-13
   days on market $78,000 Active 278 DOM
6. 2026-06-09
   days on market $78,000 Active 274 DOM
7. 2026-06-07
   days on market $78,000 Active 272 DOM
8. 2026-06-04
   days on market $78,000 Active 269 DOM
9. 2026-06-03
   days on market $78,000 Active 268 DOM
10. 2026-06-01
    days on market $78,000 Active 266 DOM
11. 2026-05-31
    days on market $78,000 Active 265 DOM
12. 2026-04-10
    price $78,000
13. 2026-02-21
    price $79,500
14. 2026-01-27
    price $85,000
15. 2025-11-18
    price $88,000
16. 2025-09-04
    listed $89,000 Active
17. 2025-08-31
    historical
18. 2025-07-10
    price $99,000
19. 2025-05-28
    price $104,000
20. 2025-05-23
    historical $1,700
21. 2025-05-23
    price $109,000
22. 2025-04-15
    listed $1,700
23. 2025-04-05
    price $128,000
24. 2025-04-04
    listed $130 Active
25. 2025-03-31
    historical
26. 2025-02-25
    price $119,000
27. 2025-01-20
    price $128,000
28. 2024-11-14
    price $141,000
29. 2024-10-12
    price $152,000
30. 2024-09-26
    price $162,000
31. 2024-09-19
    price $175,000
32. 2024-09-19
    historical $1,700
33. 2024-09-18
    listed $195,000 Active
34. 2024-08-13
    listed $1,700
35. 2014-09-30
    soldstatus $41,500 Closed
36. 2014-08-19
    historical Contingent
37. 2014-07-02
    listed $45,500 Active

ⓘ 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 8/10 Severe 2 d/yr ≥107°F today · 8 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,986
• − Mortgage interest: −$4,369
• − Property taxes: −$1,170
• − Insurance: −$390
• − Repairs & maintenance: −$1,839
• − Management: −$1,839
• − HOA: −$9,672
• − Depreciation: −$2,269
• Taxable income: $1,438
• Est. tax owed @ 24.0%: −$345
• After-tax cash flow: $1,673/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): 28,431
• Household income: $80,187
• Rent vs Own: 11.4% rent · 88.6% own
• Severe rent burden: 494.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 13% Two or more races 9% Black 4%
• Hispanic origin (detail): Puerto Rican 3% Dominican 1%
• Common ancestry: Romanian 9% Scotch-Irish 9% Italian 2%
• Foreign-born: 20% · Canada, Jamaica, Guatemala
• Languages at home: 80% English-only · Spanish 12% Other Indo-European 2% French/Haitian/Cajun 2%

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: ▲ 0.69%
• Current HPI: 242.5138
• Rent YoY: ▲ 0.51%
• 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

+71.4% since first listed

26 events — show timeline

• 2026-04-10 Price Changed $78,000 MARMLS
• 2026-02-21 Price Changed $79,500 MARMLS
• 2026-01-27 Price Changed $85,000 MARMLS
• 2025-11-18 Price Changed $88,000 MARMLS
• 2025-09-04 Listed $89,000 MARMLS
• 2025-08-31 Listing Removed — MARMLS
• 2025-07-10 Price Changed $99,000 MARMLS
• 2025-05-28 Price Changed $104,000 MARMLS
• 2025-05-23 Rental Removed $1,700 MARMLS
• 2025-05-23 Price Changed $109,000 MARMLS
• 2025-04-15 Listed for Rent $1,700 MARMLS
• 2025-04-05 Price Changed $128,000 MARMLS
• 2025-04-04 Listed $130 MARMLS
• 2025-03-31 Listing Removed — MARMLS
• 2025-02-25 Price Changed $119,000 MARMLS
• 2025-01-20 Price Changed $128,000 MARMLS
• 2024-11-14 Price Changed $141,000 MARMLS
• 2024-10-12 Price Changed $152,000 MARMLS
• 2024-09-26 Price Changed $162,000 MARMLS
• 2024-09-19 Price Changed $175,000 MARMLS
• 2024-09-19 Rental Removed $1,700 MARMLS
• 2024-09-18 Listed $195,000 MARMLS
• 2024-08-13 Listed for Rent $1,700 MARMLS
• 2014-09-30 Sold (MLS) $41,500 Beaches MLS
• 2014-08-19 Contingent — Beaches MLS
• 2014-07-02 Listed $45,500 Beaches MLS