1101 Cactus Ter #203 · Delray Beach, FL 33445

$189,000

2 bd · 2.0 ba · 1,167 sqft · Condo public records · 9 Days on market

Built 1979 $595/mo HOA · 27% of rent

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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 +10.7/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• DSCR +3.1/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

LOW 3% DOWN PAYMENT AVAILABLE, DO YOU NEED HELP WITH CLOSING COSTS, WE CAN BE CREATIVE. Welcome to effortless South Florida living! This beautifully renovated 2-bedroom, 2-bathroom residence is truly move-in ready and offers exceptional value in one of the area's most amenity-rich active adult communities. Every major update has already been completed, including a brand-new roof, stylish flooring, fresh interior paint, updated bathrooms, and a stunning modern kitchen featuring stainless steel appliances, stone countertops, and abundant cabinet space. The bright and open floor plan is filled with natural light and includes the convenience of an in-unit washer and dryer. Enjoy a maintenance-f

Key facts

• Brand new roof
• Stone countertops
• Modern kitchen

Tags

• BRAND NEW ROOF
• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES
• STONE COUNTERTOPS
• ABUNDANT CABINET SPACE
• IN UNIT WASHER AND DRYER

Property features AI

Finance

• Other: Road frontage west of US-1
• Financial info: Senior community; Pets allowed with restrictions (cats only, number limits; no dogs; pet restrictions possible)
• HOA & community: Community of 684 units; Monthly HOA ($595) covering cable TV, insurance, grounds maintenance, pest control, security, sewer, trash, water and recreation facility; On-site manager; Amenities include pool, spa/hot tub, fitness center, billiard and game rooms, tennis courts, pickleball and bocce courts, shuffleboard, street lights

Exterior

• Parking: Assigned parking; Guest parking; Open parking (2 spaces)
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electricity; Cable available
• Home design: Condominium; Multi/split levels; Entry-level living area; Faces east
• Construction: Block, concrete and stucco construction; Composition/shingle roof; 1 story (building has single level); Built as resale property
• Exterior features: Paved road access; No waterfront

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 2 bedrooms (main level)
• Flooring: Laminate; Vinyl
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Built-in features; Walk-in closets; Unfurnished
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $189k.

Deal economics

• At list price, monthly cash flow is $-91 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (8.5% below list).
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $173k (8.5% below list) — sets the bar for cash-flow.
• Cap rate 5.7% 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.
• 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); Atlantic High School (math 28% / reading 52%, grade F, #296 of 667 statewide, top 45%, 1,889 students, 59% FRL) — zoned schools average 69% FRL vs 52% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 359 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); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 34% 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 $6k 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 23y 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 $45k; list at $189k implies a 320% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,906 (8.5% 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. 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. 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?
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: 1.18% ✓
• Cap rate: 5.71%
• Cash-on-cash: -2.07%
• DSCR: 0.91
• GRM: 7.1

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: -21.4%
• Equity multiple: 0.27×
• Total profit: $-38,651
• Equity at exit: $28,181

10-year hold

• IRR: -18.8%
• Equity multiple: 0.05×
• Total profit: $-50,016
• Equity at exit: $16,341

Cash invested: $52,920 (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: 359
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,226 high
• Mortgage (P&I): −$991
• Tax from tax record: −$184 /mo · $2,213/yr
• Insurance: −$79
• HOA: −$595
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $-91

Break-even live

Break-even rent $2,341

Max offer price $172,906

Occupancy floor 99%

Sensitivity live

Price	-10% $16	-5% $-38	+0% $-91	+5% $-145	+10% $-198
Rent	-10% $-267	-5% $-179	+0% $-91	+5% $-3	+10% $85
Rate	-1.0pp $4	-0.5pp $-43	base $-91	+0.5pp $-140	+1.0pp $-190

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1101 Cactus Ter #203 Delray Beach, FL	2.0	2.0	1167	$2,100	$1.80	19d	1	0.04mi
2480 Juniper Dr #203 Delray Beach, FL	2.0	2.0	1167	$1,900	$1.63	26d	1	0.09mi
2480 Juniper Dr #204 Delray Beach, FL	2.0	2.0	1167	$1,750	$1.50	26d	1	0.09mi
1100 Boxwood Dr #101 Delray Beach, FL	2.0	2.0	1167	$1,800	$1.54	16d	1	0.10mi
1121 Cactus Ter #202 Delray Beach, FL	2.0	2.0	1167	$2,100	$1.80	26d	1	0.10mi
1130 Cactus Ter Unit 45C Delray Beach, FL	2.0	1.5	982	$2,000	$2.04	26d	1	0.10mi
2520 Pansy Ln Unit D Delray Beach, FL	2.0	2.0	1167	$2,150	$1.84	26d	1	0.11mi
1120 Homewood Blvd Unit G204 Delray Beach, FL	2.0	2.0	1247	$2,550	$2.04	21d	1	0.11mi
1021 Flame Vine Ave Delray Beach, FL	2.0	2.0	1167	$1,750	$1.50	26d	1	0.13mi
2521 Pansey Ln Unit 7A Delray Beach, FL	2.0	2.0	1167	$2,100	$1.80	26d	1	0.14mi
1141 Calamondin Ter #203 Delray Beach, FL	2.0	2.0	1167	$1,700	$1.46	26d	1	0.15mi
1060 Homewood Blvd Unit J102 Delray Beach, FL	2.0	2.0	1247	$2,450	$1.96	22d	1	0.16mi
2731 Knight Ln Delray Beach, FL	2.0	2.0	1050	$2,650	$2.52	26d	1	0.17mi
1020 Silk Oak Ter #104 Delray Beach, FL	2.0	2.0	1167	$2,500	$2.14	26d	1	0.18mi
1001 Flame Vine Ave #202 Delray Beach, FL	2.0	2.0	1167	$2,800	$2.40	26d	1	0.18mi
2730 SW 13th St #203 Delray Beach, FL	2.0	2.0	1084	$2,200	$2.03	26d	1	0.18mi
2381 Papaya Dr Unit 92C Delray Beach, FL	2.0	2.0	1100	$1,795	$1.63	26d	1	0.19mi
2381 Papaya Dr Unit C Delray Beach, FL	2.0	2.0	1100	$1,795	$1.63	9d	1	0.19mi
2835 SW 13th St #201 Delray Beach, FL	2.0	2.0	1144	$1,975	$1.73	20d	1	0.19mi
2715 Ponce de Leon Blvd Delray Beach, FL	2.0	1.0	1000	$2,200	$2.20	26d	1	0.21mi
2520 Black Olive Blvd #203 Delray Beach, FL	2.0	2.0	1167	$1,799	$1.54	6d	1	0.22mi
2520 Black Olive Blvd #203 Delray Beach, FL	2.0	2.0	1167	$1,799	$1.54	26d	1	0.22mi
2450 Black Olive Blvd Unit A Delray Beach, FL	2.0	2.0	1167	$1,950	$1.67	16d	1	0.23mi
2450 Black Olive Blvd Unit A Delray Beach, FL	2.0	2.0	1167	$1,950	$1.67	26d	1	0.23mi
1140 Mahogany Way #204 Delray Beach, FL	2.0	2.0	1167	$2,700	$2.31	26d	1	0.24mi
2500 Fiore Way Delray Beach, FL	1.0–2.0	1.5–2.0	874	$2,150	$2.46	19d	2	0.29mi
2500 Fiore Way #1110 Delray Beach, FL	2.0	2.0	1023	$1,850	$1.81	26d	1	0.30mi
2733 Zorno Way Delray Beach, FL	2.0	2.0	1245	$2,950	$2.37	21d	1	0.30mi
2500 Fiore Way #109 Delray Beach, FL	1.0	1.5	825	$2,150	$2.61	13d	1	0.31mi
2403 Lowson Blvd Unit C Delray Beach, FL	1.0	1.5	821	$1,650	$2.01	24d	1	0.31mi
2403 Lowson Blvd Unit D Delray Beach, FL	2.0	2.0	1020	$2,200	$2.16	26d	1	0.31mi
1705 Palm Cove Blvd Apt 302 Delray Beach, FL	1.0	1.0	934	$2,000	$2.14	26d	1	0.33mi
2201 Catherine Dr Unit 3 Delray Beach, FL	2.0	1.0	876	$2,100	$2.40	26d	1	0.33mi
2303 Lowson Blvd Unit D Delray Beach, FL	2.0	2.0	1020	$2,500	$2.45	0d	1	0.35mi
1725 Palm Cove Blvd Unit 2-306 Delray Beach, FL	1.0	1.0	934	$2,100	$2.25	22d	1	0.35mi
2700 Fiore Way #2020 Delray Beach, FL	2.0	2.0	1023	$2,500	$2.44	7d	1	0.35mi
2600 Fiore Way #2140 Delray Beach, FL	2.0	2.0	1023	$2,175	$2.13	5d	1	0.36mi
1760 Palm Cove Blvd Unit 5-203 Delray Beach, FL	2.0	2.0	992	$2,200	$2.22	26d	1	0.40mi
1760 Palm Cove Blvd Unit 5-203 Delray Beach, FL	2.0	2.0	993	$2,200	$2.22	15d	1	0.40mi
1740 Palm Cove Blvd Apt 103 Delray Beach, FL	3.0	2.0	1065	$2,900	$2.72	26d	1	0.40mi

HOA detail condo

• Monthly dues: $595 · $7,140/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-21
   days on market $189,000 Active 9 DOM
2. 2026-06-18
   days on market $189,000 Active 6 DOM
3. 2026-06-17
   days on market $189,000 Active 5 DOM
4. 2026-06-16
   days on market $189,000 Active 4 DOM
5. 2026-06-15
   days on market $189,000 Active 3 DOM
6. 2026-06-13
   pricedays on marketlisting id $189,000 Active 1 DOM
7. 2026-06-01
   days on market $195,000 Active 149 DOM
8. 2026-05-31
   days on market $195,000 Active 148 DOM
9. 2026-04-01
   status Active
10. 2026-03-31
    historical
11. 2026-01-02
    listed $195,000 Active
12. 2026-01-01
    historical
13. 2025-11-18
    listed $195,000 Active
14. 2025-09-02
    price $2,100
15. 2025-08-10
    historical
16. 2025-04-17
    price $200,000
17. 2025-03-10
    listed $220,000 Active
18. 2025-01-27
    listed $2,600
19. 2025-01-06
    historical
20. 2024-11-01
    soldstatus $45,000
21. 2024-09-05
    price $219,000
22. 2024-08-05
    listed $229,900 Active
23. 2023-09-08
    soldstatus $135,000
24. 2017-06-20
    soldstatus $71,000
25. 2004-04-06
    soldstatus $66,000
26. 2004-04-02
    soldstatus $66,000
27. 2004-02-06
    historical
28. 2003-12-01
    listed $69,900
29. 1980-07-01
    soldstatus $48,000

ⓘ 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: $2,213 · $184/mo
• Projected year-2 tax: $2,213 · $184/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 · 28 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: $26,707
• − Mortgage interest: −$10,587
• − Property taxes: −$2,213
• − Insurance: −$945
• − Repairs & maintenance: −$2,137
• − Management: −$2,137
• − HOA: −$7,140
• − Depreciation: −$5,498
• Taxable loss: −$3,949
• Est. tax savings @ 24.0%: +$948
• After-tax cash flow: $-145/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

+306.2% since first listed

21 events — show timeline

• 2026-04-01 Relisted — Beaches MLS
• 2026-03-31 Listing Removed — Beaches MLS
• 2026-01-02 Listed $195,000 Beaches MLS
• 2026-01-01 Listing Removed — Beaches MLS
• 2025-11-18 Listed $195,000 Beaches MLS
• 2025-09-02 Price Changed $2,100 REDFIN
• 2025-08-10 Listing Removed — MARMLS
• 2025-04-17 Price Changed $200,000 MARMLS
• 2025-03-10 Listed $220,000 MARMLS
• 2025-01-27 Listed for Rent $2,600 REDFIN
• 2025-01-06 Listing Removed — Beaches MLS
• 2024-11-01 Sold (Public Records) $45,000 Public Records
• 2024-09-05 Price Changed $219,000 Beaches MLS
• 2024-08-05 Listed $229,900 Beaches MLS
• 2023-09-08 Sold (Public Records) $135,000 Public Records
• 2017-06-20 Sold (Public Records) $71,000 Public Records
• 2004-04-06 Sold (Public Records) $66,000 Public Records
• 2004-04-02 Sold (MLS) $66,000 Beaches MLS
• 2004-02-06 Listing Removed — Beaches MLS
• 2003-12-01 Listed $69,900 Beaches MLS
• 1980-07-01 Sold (Public Records) $48,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $2,213 · -23.2% YoY. Source: county tax records.