699 Flanders O · Delray Beach, FL 33484

$144,900

2 bd · 2.0 ba · 868 sqft · Condo public records · 120 Days on market

Built 1977 $660/mo HOA · 34% of rent

---

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).

• Cash flow +8.9/30.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

great privacy location. True 2nd floor corner unit overlooking the canal waterway and the open garden area. Impact glass windows along the west side of the building for hurricane protection. Southern exposure (light and bright) from your tiled screened in patio covered by plexiglass slider windowed upper panels. Updated side by side washer/dryer in the patio utiltiy closet. Updated water heater. Kitchen included a dishwasher. Primary bathroom stall shower updated in beautifu lwall tiling. Parking space # located directly next to the walkway leading to your private staircase. Neutral beige carpeting thoughout the unit. Close to Flanders Clubhouse and Flanders entrance.

Key facts

• Enclosed balcony
• Washer and dryer
• View of a canal

Tags

• LAMINATE VINYL PLANK FLOORING
• STAINLESS STEEL APPLIANCES
• ENCLOSED BALCONY
• WASHER AND DRYER
• IMPACT WINDOWS
• VIEW OF A CANAL

Property features AI

Finance

• Other: Association fee covers cable TV, grounds maintenance, security, and trash
• Financial info: Pets not allowed; Senior community
• HOA & community: Monthly association fee; Association amenities include basketball court, pickleball courts, tennis courts, fitness center, indoor pool, golf course, business center, cafe/restaurant, library, courtesy bus

Exterior

• Parking: Assigned parking; Guest parking
• Security: Community guard gate (use Flanders entrance off Linton Blvd.)
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; 2-story building; Faces north; Located west of US-1
• Construction: Concrete/CBS construction
• Exterior features: Waterfront

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Garbage disposal; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Built-in features; Walk-in closet(s); Blinds on windows
• 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 $145k.

Deal economics

• At list price, monthly cash flow is $-117 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (11.7% below list).
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (11.7% below list) — sets the bar for cash-flow.
• Cap rate 5.3% vs local median 4.3% in Delray Beach — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 $1k 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 120 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $72k; list at $145k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 34% 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 $127,941 (11.7% 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 120 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — 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: 1.35% ✓
• Cap rate: 5.32%
• Cash-on-cash: -3.47%
• DSCR: 0.85
• GRM: 6.2

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: -19.3%
• Equity multiple: 0.31×
• Total profit: $-27,960
• Equity at exit: $21,605

10-year hold

• IRR: -7.6%
• Equity multiple: 0.47×
• Total profit: $-21,453
• Equity at exit: $12,528

Cash invested: $40,572 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,955 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,174/yr
• Insurance: −$60
• HOA: −$660
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $-117

Break-even live

Break-even rent $2,103

Max offer price $127,941

Occupancy floor —

Sensitivity live

Price	-10% $-17	-5% $-67	+0% $-117	+5% $-167	+10% $-217
Rent	-10% $-272	-5% $-194	+0% $-117	+5% $-40	+10% $37
Rate	-1.0pp $-44	-0.5pp $-80	base $-117	+0.5pp $-155	+1.0pp $-193

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 Flanders Dr Unit 205 Delray Beach, FL	2.0	2.0	883	$1,750	$1.98	26d	1	0.02mi
177 Flanders Dr Unit 177 Delray Beach, FL	2.0	2.0	920	$1,600	$1.74	26d	1	0.03mi
697 Flanders O Delray Beach, FL	1.0	1.5	760	$1,400	$1.84	3d	1	0.03mi
457 Flanders Dr Unit 457 Delray Beach, FL	1.0	1.5	760	$2,800	$3.68	26d	1	0.03mi
278 Flanders Dr Unit 278 Delray Beach, FL	1.0	1.5	828	$1,290	$1.56	26d	1	0.03mi
173 Flanders Dr Unit 173 Delray Beach, FL	2.0	2.0	920	$2,400	$2.61	26d	1	0.03mi
719 Flanders O Delray Beach, FL	2.0	2.0	920	$1,800	$1.96	26d	1	0.10mi
177 Flanders D Delray Beach, FL	2.0	2.0	920	$1,600	$1.74	26d	1	0.12mi
811 Flanders Q Delray Beach, FL	2.0	2.0	920	$1,700	$1.85	5d	1	0.14mi
811 Flanders Q Delray Beach, FL	2.0	2.0	920	$1,700	$1.85	15d	1	0.14mi
166 Piedmont Way Delray Beach, FL	2.0	2.0	910	$1,600	$1.76	26d	1	0.18mi
137 Piedmont Way Unit 137 Delray Beach, FL	2.0	2.0	1040	$2,300	$2.21	12d	1	0.19mi
960 Flanders T Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	26d	1	0.19mi
523 Piedmont E Unit 523 Delray Beach, FL	2.0	2.0	1044	$1,750	$1.68	26d	1	0.20mi
344 Piedmont Trl Delray Beach, FL	2.0	2.0	910	$1,600	$1.76	26d	1	0.22mi
514 Piedmont K Unit k Delray Beach, FL	1.0	1.5	792	$1,650	$2.08	1d	1	0.23mi
514 Piedmont K Unit k Delray Beach, FL	1.0	1.5	792	$1,690	$2.13	4d	1	0.23mi
127 Flanders C Delray Beach, FL	1.0	1.5	760	$1,550	$2.04	26d	1	0.23mi
176 Piedmont D Delray Beach, FL	2.0	2.0	910	$1,600	$1.76	26d	1	0.24mi
341 Piedmont H Unit H Delray Beach, FL	2.0	2.0	907	$1,650	$1.82	15d	1	0.24mi
499 Piedmont K Delray Beach, FL	2.0	2.0	907	$2,800	$3.09	26d	1	0.24mi
224 Piedmont F #224 Delray Beach, FL	1.0	1.5	760	$1,200	$1.58	26d	1	0.24mi
322 Piedmont G Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	15d	1	0.25mi
322 Piedmont G Delray Beach, FL	2.0	2.0	910	$1,800	$1.98	9d	1	0.25mi
492 Piedmont Ct Delray Beach, FL	2.0	2.0	1040	$2,200	$2.12	26d	1	0.27mi
370 Piedmont Trl Unit 370 Delray Beach, FL	1.0	2.0	760	$1,700	$2.24	26d	1	0.29mi
370 Piedmont H Delray Beach, FL	1.0	1.5	760	$1,600	$2.11	26d	1	0.29mi
450 Piedmont J Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	1d	1	0.29mi
368 Piedmont H Unit H Delray Beach, FL	2.0	2.0	910	$1,850	$2.03	26d	1	0.30mi
18 Piedmont a Delray Beach, FL	2.0	2.0	910	$1,950	$2.14	1d	1	0.32mi
23 Flanders a Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	26d	1	0.34mi
7 Piedmont a Delray Beach, FL	2.0	2.0	910	$2,200	$2.42	4d	1	0.34mi
29 Flanders a Delray Beach, FL	2.0	2.0	760	$1,900	$2.50	26d	1	0.34mi
98 Capri C Delray Beach, FL	1.0	1.5	795	$1,695	$2.13	26d	1	0.36mi
556 Capri L Unit L Delray Beach, FL	2.0	2.0	910	$1,575	$1.73	26d	1	0.36mi
99 Saxony C Delray Beach, FL	1.0	1.5	720	$2,500	$3.47	26d	1	0.38mi
207 Capri E #207 Delray Beach, FL	2.0	2.0	910	$1,700	$1.87	9d	1	0.38mi
794 Normandy Q Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	18d	1	0.38mi
52 Saxony Cir Unit 52 Delray Beach, FL	2.0	2.0	1027	$3,200	$3.12	26d	1	0.38mi
560 Capri Ln Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	26d	1	0.38mi

HOA detail condo

• Monthly dues: $660 · $7,920/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-13
   days on market $144,900 Active 120 DOM
2. 2026-06-09
   days on market $144,900 Active 116 DOM
3. 2026-06-07
   days on market $144,900 Active 114 DOM
4. 2026-06-04
   days on market $144,900 Active 111 DOM
5. 2026-06-03
   days on market $144,900 Active 110 DOM
6. 2026-06-01
   days on market $144,900 Active 108 DOM
7. 2026-05-31
   days on market $144,900 Active 107 DOM
8. 2026-02-13
   listed $144,900 Active
9. 2025-07-25
   soldstatus $72,500
10. 2025-07-24
    soldstatus $72,500 Closed 680-char remark

    Show marketing remark (680 chars)

    great privacy location. True 2nd floor corner unit overlooking the canal waterway and the open garden area. Impact glass windows along the west side of the building for hurricane protection. Southern exposure (light and bright) from your tiled screened in patio covered by plexiglass slider windowed upper panels. Updated side by side washer/dryer in the patio utiltiy closet. Updated water heater. Kitchen included a dishwasher. Primary bathroom stall shower updated in beautifu lwall tiling. Parking space # located directly next to the walkway leading to your private staircase. Neutral beige carpeting thoughout the unit. Close to Flanders Clubhouse and Flanders entrance.

11. 2025-06-22
    status Pending 680-char remark

    Show marketing remark (680 chars)

    great privacy location. True 2nd floor corner unit overlooking the canal waterway and the open garden area. Impact glass windows along the west side of the building for hurricane protection. Southern exposure (light and bright) from your tiled screened in patio covered by plexiglass slider windowed upper panels. Updated side by side washer/dryer in the patio utiltiy closet. Updated water heater. Kitchen included a dishwasher. Primary bathroom stall shower updated in beautifu lwall tiling. Parking space # located directly next to the walkway leading to your private staircase. Neutral beige carpeting thoughout the unit. Close to Flanders Clubhouse and Flanders entrance.

12. 2025-03-29
    listed $88,000 Active 680-char remark

    Show marketing remark (680 chars)

    great privacy location. True 2nd floor corner unit overlooking the canal waterway and the open garden area. Impact glass windows along the west side of the building for hurricane protection. Southern exposure (light and bright) from your tiled screened in patio covered by plexiglass slider windowed upper panels. Updated side by side washer/dryer in the patio utiltiy closet. Updated water heater. Kitchen included a dishwasher. Primary bathroom stall shower updated in beautifu lwall tiling. Parking space # located directly next to the walkway leading to your private staircase. Neutral beige carpeting thoughout the unit. Close to Flanders Clubhouse and Flanders entrance.

13. 2004-08-10
    soldstatus $80,000
14. 1998-09-14
    soldstatus $18,900

ⓘ 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: $23,456
• − Mortgage interest: −$8,117
• − Property taxes: −$2,174
• − Insurance: −$724
• − Repairs & maintenance: −$1,876
• − Management: −$1,876
• − HOA: −$7,920
• − Depreciation: −$4,215
• Taxable loss: −$3,447
• Est. tax savings @ 24.0%: +$827
• After-tax cash flow: $-579/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

+666.7% since first listed

7 events — show timeline

• 2026-02-13 Listed $144,900 Beaches MLS
• 2025-07-25 Sold (Public Records) $72,500 Public Records
• 2025-07-24 Sold (MLS) $72,500 Beaches MLS
• 2025-06-22 Pending — Beaches MLS
• 2025-03-29 Listed $88,000 Beaches MLS
• 2004-08-10 Sold (Public Records) $80,000 Public Records
• 1998-09-14 Sold (Public Records) $18,900 Public Records

Property tax history

+1.5%/yr

Latest (2025): $264 · +3.5% YoY. Source: county tax records.