8 Saxony A #8 · Delray Beach, FL 33446

$59,900

2 bd · 2.0 ba · 988 sqft · Condo public records · 39 Days on market

Built 1974 $806/mo HOA · 43% 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 +28.4/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

First floor 2-bedroom, 2-bathroom condo in Kings Point. Needs renovation. Priced to sell.

Key facts

• $806 HOA
• Built 1974
• Listed 39 days

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Senior community

Exterior

• Security: Security guard
• Home design: 2-story property; Attached property; Entry on level 1; Has a view
• Construction: Block construction; Resale property
• Exterior features: Canal-front waterfront; No other exterior features listed

Interior

• Kitchen: Kitchen (8 x 9)
• Bedrooms: Bedroom 2 (11 x 13)
• Bathrooms: 2 full bathrooms
• Interior features: First floor entry; Florida room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $60k.

Deal economics

• At list price, monthly cash flow is $195 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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.
• Market conditions: Rents flat; 577 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $825 of equity ($414 loan paydown + $411 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 $17k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($58k) 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.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; HOA is 43% 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 $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 3.14% ✓
• Cap rate: 10.19%
• Cash-on-cash: 13.93%
• DSCR: 1.62
• GRM: 2.7

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: 10.7%
• Equity multiple: 1.51×
• Total profit: $8,577
• Equity at exit: $19,479

10-year hold

• IRR: 10.8%
• Equity multiple: 2.07×
• Total profit: $17,928
• Equity at exit: $25,151

Cash invested: $16,772 (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: 2.7×

Monthly cashflow live

• Estimated rent: $1,882 high
• Mortgage (P&I): −$314
• Tax from tax record: −$147 /mo · $1,761/yr
• Insurance: −$25
• HOA: −$806
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $195

Break-even live

Break-even rent $1,635

Max offer price $59,900

Occupancy floor 85%

Sensitivity live

Price	-10% $229	-5% $212	+0% $195	+5% $178	+10% $161
Rent	-10% $46	-5% $120	+0% $195	+5% $269	+10% $343
Rate	-1.0pp $225	-0.5pp $210	base $195	+0.5pp $179	+1.0pp $163

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
370 Saxony H Delray Beach, FL	1.0	1.5	726	$1,500	$2.07	6d	1	0.01mi
321 Saxony G Delray Beach, FL	2.0	2.0	880	$2,200	$2.50	4d	1	0.02mi
352 Saxony Trl Unit 352 Delray Beach, FL	2.0	2.0	907	$2,000	$2.21	25d	1	0.03mi
445 Saxony Way #445 Delray Beach, FL	2.0	2.0	883	$1,550	$1.76	25d	1	0.03mi
516 Saxony K Delray Beach, FL	2.0	2.0	880	$1,450	$1.65	25d	1	0.03mi
23 Saxony a Delray Beach, FL	1.0	1.5	726	$1,300	$1.79	8d	1	0.03mi
123 Saxony C Delray Beach, FL	1.0	1.5	720	$2,500	$3.47	25d	1	0.03mi
564 Saxony Dr #564 Delray Beach, FL	2.0	2.0	880	$2,200	$2.50	5d	1	0.03mi
662 Saxony N Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	21d	1	0.03mi
594 Saxony Trl Unit 594 Delray Beach, FL	1.0	1.5	720	$1,650	$2.29	25d	1	0.03mi
189 Saxony Trl Unit 189 Delray Beach, FL	2.0	2.0	880	$1,475	$1.68	22d	1	0.03mi
594 Saxony Trl Unit 594 Delray Beach, FL	1.0	1.5	720	$1,550	$2.15	3d	1	0.03mi
468 Saxony J Delray Beach, FL	2.0	2.0	907	$1,850	$2.04	25d	1	0.09mi
679 Saxony Way Delray Beach, FL	1.0	1.5	720	$1,600	$2.22	6d	1	0.09mi
669 Monaco N Delray Beach, FL	2.0	2.0	880	$1,700	$1.93	25d	1	0.10mi
569 Monaco L Delray Beach, FL	2.0	2.0	880	$1,500	$1.70	25d	1	0.13mi
211 Saxony Ln #211 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	8d	1	0.13mi
151 Saxony D Delray Beach, FL	1.0	1.5	726	$1,500	$2.07	12d	1	0.17mi
99 Saxony C Delray Beach, FL	1.0	1.5	720	$2,500	$3.47	25d	1	0.19mi
401 Monaco Way Unit 401 Delray Beach, FL	2.0	2.0	920	$1,950	$2.12	25d	1	0.19mi
482 Monaco Blvd #482 Delray Beach, FL	1.0	1.5	726	$1,400	$1.93	25d	1	0.20mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	19d	1	0.20mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	13d	1	0.20mi
596 Saxony M Delray Beach, FL	2.0	2.0	883	$1,400	$1.59	14d	1	0.20mi
451 Monaco Blvd Unit J Delray Beach, FL	1.0	1.5	720	$1,599	$2.22	25d	1	0.20mi
711 Monaco O Delray Beach, FL	1.0	1.5	720	$1,550	$2.15	25d	1	0.20mi
459 Monaco Blvd Unit 459 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	0d	1	0.20mi
581 Monaco Blvd Unit 581 Delray Beach, FL	2.0	2.0	880	$2,000	$2.27	25d	1	0.20mi
52 Saxony Cir Unit 52 Delray Beach, FL	2.0	2.0	1027	$3,200	$3.12	25d	1	0.21mi
459 Monaco J #459 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	2d	1	0.21mi
153 Monaco D Delray Beach, FL	2.0	2.0	880	$1,750	$1.99	17d	1	0.24mi
675 Brittany O Delray Beach, FL	1.0	1.5	720	$1,500	$2.08	25d	1	0.24mi
58 Monaco Blvd Unit 58 Delray Beach, FL	1.0	1.5	720	$1,650	$2.29	25d	1	0.25mi
72 Monaco Blvd Unit 72 Delray Beach, FL	2.0	2.0	880	$1,950	$2.22	22d	1	0.25mi
23 Flanders a Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	25d	1	0.25mi
276 Monaco F Delray Beach, FL	2.0	2.0	883	$1,650	$1.87	25d	1	0.25mi
286 Monaco F Delray Beach, FL	1.0	2.0	726	$1,700	$2.34	25d	1	0.25mi
318 Monaco G Delray Beach, FL	2.0	2.0	907	$2,200	$2.43	25d	1	0.25mi
11 Brittany a Delray Beach, FL	1.0	1.5	725	$1,500	$2.07	8d	1	0.25mi
195 Monaco E Delray Beach, FL	1.0	1.5	728	$1,550	$2.13	25d	1	0.26mi

HOA detail condo

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

Listing history 7 events

1. 2026-04-10
   listed $59,900 Active
2. 2026-04-02
   historical
3. 2026-03-20
   price $59,900
4. 2026-02-18
   listed $69,900 Active
5. 2005-08-18
   soldstatus $128,500
6. 2004-07-06
   soldstatus $70,000
7. 1974-01-01
   soldstatus $19,000

ⓘ 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: $1,761 · $147/mo
• Projected year-2 tax: $1,761 · $147/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 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: $22,581
• − Mortgage interest: −$3,355
• − Property taxes: −$1,761
• − Insurance: −$300
• − Repairs & maintenance: −$1,806
• − Management: −$1,806
• − HOA: −$9,672
• − Depreciation: −$1,743
• Taxable income: $2,137
• Est. tax owed @ 24.0%: −$513
• After-tax cash flow: $1,824/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

+215.3% since first listed

7 events — show timeline

• 2026-04-10 Listed $59,900 MARMLS
• 2026-04-02 Listing Removed — Beaches MLS
• 2026-03-20 Price Changed $59,900 Beaches MLS
• 2026-02-18 Listed $69,900 Beaches MLS
• 2005-08-18 Sold (Public Records) $128,500 Public Records
• 2004-07-06 Sold (Public Records) $70,000 Public Records
• 1974-01-01 Sold (Public Records) $19,000 Public Records

Property tax history

+16.2%/yr

Latest (2025): $1,761 · +587.4% YoY. Source: county tax records.