14475 Strathmore Ln #208 · Delray Beach, FL 33446

$279,000

2 bd · 2.0 ba · 1,230 sqft · Condo public records · 95 Days on market

Built 1981 $870/mo HOA · 30% 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).

• ARV discount +7.5/15.0
• Cash flow +7.1/30.0
• 1% rule +5.4/10.0
• 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
• DSCR +1.3/10.0

Listing remarks MLS

Corner unit with canal view in the desired 55+ Community of Huntington Lakes, just steps away from the pool. Enjoy the newly renovated Clubhouse, Indoor and outdoor pool and many more activities. No lease the first two years, sold As-is.

Key facts

• Fully renovated
• Quartz countertops
• Water views

Tags

• FULLY RENOVATED
• SCREENED BALCONY
• WATER VIEWS
• OPEN-CONCEPT KITCHEN
• WHITE SHAKER CABINETRY
• QUARTZ COUNTERTOPS

Property features AI

Finance

• Other: Senior community
• Financial info: Pets not allowed
• HOA & community: Monthly HOA fee (includes cable TV, grounds maintenance, security, sewer, trash, water, common areas, elevator); Community amenities include: billiard room, clubhouse, elevators, fitness center, indoor pool, outdoor pool, sauna, shuffleboard court, spa/hot tub, tennis courts, bocce ball, business center, internet included, library, pickleball courts

Exterior

• Parking: Assigned parking; Guest parking
• Security: Gated with guard
• Utilities: Public water; Public sewer; Sewer and water available
• Home design: Condominium; Lancaster model; 8-story building; Northeast-facing
• Construction: CBS construction
• Exterior features: Waterfront; Gated community with guard

Interior

• Kitchen: Dishwasher; Electric range; Microwave; 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 electric heating; Central electric cooling
• Interior features: Walk-in closets; Split bedroom layout; Sliding windows; Unfurnished
• 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 $279k.

Deal economics

• At list price, monthly cash flow is $-394 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (25.0% below list).
• Meets the 1% rule at list price ($3k rent vs $279k).
• Recommended offer: $209k (25.0% below list) — sets the bar for cash-flow.

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: Hagen Road Elementary School (math 55% / reading 63%, grade B-, #722 of 2,144 statewide, top 34%, 773 students, 46% FRL); Spanish River Community High School (math 64% / reading 74%, grade B, #63 of 667 statewide, top 10%, 2,578 students, 25% FRL) — zoned schools average 35% FRL vs 52% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 64% at this address vs 50% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Palm Beach average implies; a family-tenant draw the district grade alone would hide.
• 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 $4k of equity ($2k loan paydown + $2k 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.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($254k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 26y 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 $200k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $209,363 (25.0% 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 95 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
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. 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?
10. 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.
11. 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.
12. 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: 1.04% ✓
• Cap rate: 4.60%
• Cash-on-cash: -6.06%
• DSCR: 0.73
• GRM: 8.0

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: -8.1%
• Equity multiple: 0.61×
• Total profit: $-30,734
• Equity at exit: $90,726

10-year hold

• IRR: -4.4%
• Equity multiple: 0.52×
• Total profit: $-37,531
• Equity at exit: $117,146

Cash invested: $78,120 (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: 8.0×

Monthly cashflow live

• Estimated rent: $2,908 high
• Mortgage (P&I): −$1,463
• Tax from tax record: −$242 /mo · $2,908/yr
• Insurance: −$116
• HOA: −$870
• Vacancy / Maint / Mgmt: −$611
• Net cashflow: $-394

Break-even live

Break-even rent $3,407

Max offer price $209,363

Occupancy floor —

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14475 Strathmore Ln Delray Beach, FL	2.0	2.0	1230	$2,422	$1.97	24d	2	0.04mi
6866 Huntington Ln #305 Delray Beach, FL	2.0	2.0	1230	$4,500	$3.66	24d	1	0.19mi
6795 Huntington Ln #406 Delray Beach, FL	2.0	2.0	990	$2,500	$2.53	20d	1	0.21mi
14671 Bonaire Blvd #505 Delray Beach, FL	1.0	2.0	925	$1,600	$1.73	24d	1	0.23mi
6557 Country Wood Way Delray Beach, FL	3.0	2.0	1346	$4,700	$3.49	24d	1	0.27mi
6550 Country Wood Way Delray Beach, FL	3.0	2.0	1408	$4,000	$2.84	5d	1	0.28mi
6550 Country Wood Way Delray Beach, FL	3.0	2.0	1408	$4,000	$2.84	24d	1	0.28mi
14624 Three Ponds Trl Delray Beach, FL	3.0	2.0	1411	$3,250	$2.30	17d	1	0.29mi
7076 Huntington Ln #608 Delray Beach, FL	2.0	2.0	1230	$2,600	$2.11	24d	1	0.31mi
6372 Sleepy Willow Way Delray Beach, FL	2.0	2.0	1344	$3,975	$2.96	15d	1	0.31mi
6372 Sleepy Willow Way Delray Beach, FL	2.0	2.0	1344	$3,975	$2.96	24d	1	0.31mi
14556 Wiley Range Rd Delray Beach, FL	2.0	2.0	1319	$3,000	$2.27	24d	1	0.31mi
6396 Country Wood Way Delray Beach, FL	2.0	2.0	1364	$3,000	$2.20	24d	1	0.32mi
32 Abbey Ln #207 Delray Beach, FL	2.0	2.0	925	$2,500	$2.70	24d	1	0.33mi
31 Abbey Ln #207 Delray Beach, FL	2.0	2.0	925	$1,300	$1.41	24d	1	0.34mi
14608 Country Side Ln Delray Beach, FL	2.0	2.0	1303	$2,950	$2.26	24d	1	0.35mi
14307 Bedford Dr #302 Delray Beach, FL	2.0	2.0	990	$2,200	$2.22	24d	1	0.36mi
6234 Pointe Regal Cir Delray Beach, FL	2.0	2.0	1217	$3,899	$3.20	24d	1	0.36mi
14534 Highland Center Way Delray Beach, FL	2.0	2.0	1319	$3,400	$2.58	7d	1	0.36mi
23 Abbey Ln #208 Delray Beach, FL	2.0	2.0	925	$1,500	$1.62	3d	1	0.38mi
21 Abbey Ln #107 Delray Beach, FL	2.0	2.0	925	$1,800	$1.95	15d	1	0.40mi
7192 Huntington Ln #307 Delray Beach, FL	2.0	2.0	1070	$3,500	$3.27	18d	1	0.41mi
14735 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,350	$2.19	2d	1	0.42mi
19 Abbey Ln #206 Delray Beach, FL	2.0	2.0	925	$1,750	$1.89	24d	1	0.43mi
14832 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,500	$2.33	17d	1	0.44mi
20 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,600	$2.81	24d	1	0.44mi
3 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,500	$2.70	24d	1	0.46mi
6096 Kings Gate Cir Delray Beach, FL	2.0	2.0	1311	$2,500	$1.91	24d	1	0.47mi
14747 Wildflower Ln Delray Beach, FL	2.0	2.0	1229	$2,475	$2.01	24d	1	0.47mi
14800 Cumberland Dr Delray Beach, FL	2.0	2.0	1321	$4,048	$3.06	5d	4	0.48mi
14828 Golden Jax Ln Unit 8103 Delray Beach, FL	2.0	2.0	1321	$3,949	$2.99	5d	1	0.49mi
14828 Golden Jax Ln Unit 8-105 Radiance Delray Beach, FL	2.0	2.0	1321	$3,948	$2.99	15d	1	0.49mi
14828 Golden Jax Ln Unit 6-105 Radiance Delray Beach, FL	2.0	2.0	1321	$4,148	$3.14	17d	1	0.49mi
14509 Sloan Ridge Dr Unit 10-104 Luminosa Delray Beach, FL	3.0	2.0	1328	$3,827	$2.88	24d	1	0.49mi
14111 Royal Vista Dr #404 Delray Beach, FL	2.0	2.0	1392	$3,200	$2.30	24d	1	0.51mi
7286 Huntington Ln #105 Delray Beach, FL	2.0	2.0	1070	$3,350	$3.13	24d	1	0.52mi
14 Willowbrook Ln #101 Delray Beach, FL	2.0	2.0	1005	$1,700	$1.69	5d	1	0.54mi
6813 Moonlit Dr Delray Beach, FL	2.0	2.0	1148	$2,150	$1.87	24d	1	0.54mi
10 Willowbrook Ln #105 Delray Beach, FL	2.0	2.0	1005	$2,100	$2.09	11d	1	0.56mi
14747 Cumberland Dr #301 Delray Beach, FL	2.0	2.0	1044	$1,900	$1.82	24d	1	0.58mi

HOA detail condo

• Monthly dues: $870 · $10,440/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-02
   days on market $279,000 Active 95 DOM
2. 2026-06-01
   days on market $279,000 Active 94 DOM
3. 2026-05-31
   days on market $279,000 Active 93 DOM
4. 2026-02-27
   listed $279,000 Active
5. 2025-03-29
   historical
6. 2025-01-06
   price $274,900
7. 2024-12-11
   price $299,000
8. 2024-11-13
   status Active
9. 2024-11-10
   historical Active Under Contract
10. 2024-11-10
    price $315,000
11. 2024-09-01
    listed $330,000 Active
12. 2024-05-02
    soldstatus $200,000 Closed 237-char remark

    Show marketing remark (237 chars)

    Corner unit with canal view in the desired 55+ Community of Huntington Lakes, just steps away from the pool. Enjoy the newly renovated Clubhouse, Indoor and outdoor pool and many more activities. No lease the first two years, sold As-is.

13. 2024-05-02
    soldstatus $200,000

    Show marketing remark (237 chars)

    Corner unit with canal view in the desired 55+ Community of Huntington Lakes, just steps away from the pool. Enjoy the newly renovated Clubhouse, Indoor and outdoor pool and many more activities. No lease the first two years, sold As-is.

14. 2024-04-07
    historical Active Under Contract 237-char remark

    Show marketing remark (237 chars)

    Corner unit with canal view in the desired 55+ Community of Huntington Lakes, just steps away from the pool. Enjoy the newly renovated Clubhouse, Indoor and outdoor pool and many more activities. No lease the first two years, sold As-is.

15. 2024-02-19
    price $229,000 237-char remark

    Show marketing remark (237 chars)

    Corner unit with canal view in the desired 55+ Community of Huntington Lakes, just steps away from the pool. Enjoy the newly renovated Clubhouse, Indoor and outdoor pool and many more activities. No lease the first two years, sold As-is.

16. 2024-02-19
    price $209,000 237-char remark

    Show marketing remark (237 chars)

    Corner unit with canal view in the desired 55+ Community of Huntington Lakes, just steps away from the pool. Enjoy the newly renovated Clubhouse, Indoor and outdoor pool and many more activities. No lease the first two years, sold As-is.

17. 2024-01-21
    listed $229,000 Active 237-char remark

    Show marketing remark (237 chars)

    Corner unit with canal view in the desired 55+ Community of Huntington Lakes, just steps away from the pool. Enjoy the newly renovated Clubhouse, Indoor and outdoor pool and many more activities. No lease the first two years, sold As-is.

18. 2014-06-09
    soldstatus $120,000
19. 2014-05-23
    soldstatus $120,000
20. 2014-04-04
    listed $127,000
21. 2003-01-21
    soldstatus $112,000
22. 2003-01-09
    soldstatus $110,000
23. 2002-09-29
    historical
24. 2002-09-27
    listed $114,995
25. 2000-10-13
    soldstatus $80,000
26. 2000-10-10
    soldstatus $80,000
27. 2000-09-05
    historical
28. 2000-07-20
    listed $84,000

ⓘ 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: $2,908 · $242/mo
• Projected year-2 tax: $2,908 · $242/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 9/10 Extreme 7 d/yr ≥107°F today · 25 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: $34,898
• − Mortgage interest: −$15,628
• − Property taxes: −$2,908
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,792
• − Management: −$2,792
• − HOA: −$10,440
• − Depreciation: −$8,116
• Taxable loss: −$9,173
• Est. tax savings @ 24.0%: +$2,202
• After-tax cash flow: $-2,529/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

+232.1% since first listed

25 events — show timeline

• 2026-02-27 Listed $279,000 Beaches MLS
• 2025-03-29 Listing Removed — MARMLS
• 2025-01-06 Price Changed $274,900 MARMLS
• 2024-12-11 Price Changed $299,000 MARMLS
• 2024-11-13 Relisted — MARMLS
• 2024-11-10 Contingent — MARMLS
• 2024-11-10 Price Changed $315,000 MARMLS
• 2024-09-01 Listed $330,000 MARMLS
• 2024-05-02 Sold (Public Records) $200,000 Public Records
• 2024-05-02 Sold (MLS) $200,000 MARMLS
• 2024-04-07 Contingent — MARMLS
• 2024-02-19 Price Changed $229,000 MARMLS
• 2024-02-19 Price Changed $209,000 MARMLS
• 2024-01-21 Listed $229,000 MARMLS
• 2014-06-09 Sold (Public Records) $120,000 Public Records
• 2014-05-23 Sold (MLS) $120,000 Beaches MLS
• 2014-04-04 Listed $127,000 Beaches MLS
• 2003-01-21 Sold (Public Records) $112,000 Public Records
• 2003-01-09 Sold (MLS) $110,000 Beaches MLS
• 2002-09-29 Listing Removed — Beaches MLS
• 2002-09-27 Listed $114,995 Beaches MLS
• 2000-10-13 Sold (Public Records) $80,000 Public Records
• 2000-10-10 Sold (MLS) $80,000 Beaches MLS
• 2000-09-05 Listing Removed — Beaches MLS
• 2000-07-20 Listed $84,000 Beaches MLS

Property tax history

+10.0%/yr

Latest (2025): $2,908 · -10.8% YoY. Source: county tax records.