865 NW 29th Ave Unit A · Delray Beach, FL 33445

$200,000

2 bd · 2.5 ba · 1,384 sqft · Townhouse public records · 38 Days on market

Built 1979 1,015 sqft lot $632/mo HOA · 21% 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 +27.7/30.0
• 1% rule +10.0/10.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This beautiful 2-bedroom, 2.5-bathroom townhouse offers a perfect blend of style and functionality. Step into the inviting foyer and be greeted by an open-concept living space, seamlessly connecting the living, dining, and kitchen area. Upstairs, you'll find two spacious bedrooms. Enjoy the Florida sunshine on your private patio or balcony, perfect for morning coffee or evening relaxation. Community offers pool, tennis courts and clubhouse. HOA fee includes Insurance on the building/ roof maintenance.

Key facts

• Clubhouse
• Community pool
• Tennis courts

Tags

• OPEN-CONCEPT LIVING SPACE
• PRIVATE PATIO
• COMMUNITY POOL
• TENNIS COURTS
• CLUBHOUSE

Property features AI

Finance

• Other: Property listed as resale; Located in a senior community
• Financial info: Not a land-lease property; Pets allowed (with size limits)
• HOA & community: Community association with amenities including pool, spa/hot tub, sauna, fitness center, clubhouse, community room, billiard and game rooms, library, cabana, management/manager on site, jogging path, bocce ball, tennis courts, pickleball courts and pickleball; Monthly HOA fee (listed): $632 (monthly); HOA covers maintenance of grounds, pest control, security, trash, common areas, and roof repairs

Exterior

• Parking: Assigned parking and guest parking (2 total spaces); No carport
• Security: Closed-circuit cameras; Security guard; Security fence
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Townhouse; Two-level property (listed as two levels), first-floor entry; Faces east
• Construction: Built with brick and CBS construction materials; Mansard and shingle roof; Single-story building unit within a multi-level property (stories total: 1)
• Exterior features: Open patio and open porch; Patio and porch

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: No main-level bedrooms
• Flooring: Carpet; Laminate; Tile; Wood
• Bathrooms: 2 full bathrooms and 1 half bathroom (3 total); one bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: No notable built-in interior features listed; Blinds, drapes with rods on windows
• Laundry & utility: In-unit laundry located inside (laundry room and/or in bathroom)

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $200k.

Deal economics

• At list price, monthly cash flow is $601 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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.
• Zoned schools: Crosspointe Elementary School (math 36% / reading 45%, grade F, #1,471 of 2,144 statewide, top 69%, 652 students, 75% FRL); Atlantic High School (math 28% / reading 52%, grade F, #296 of 667 statewide, top 45%, 1,889 students, 59% FRL) — zoned schools average 67% FRL vs 52% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 354 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).
• At $3,061/mo this rent would consume 47% of the median local household income ($78k/yr) (locally 1649% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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

• It's been on market 38 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 9 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 $54k; list at $200k implies a 270% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% 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 $194,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.53% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.88%
• DSCR: 1.57
• GRM: 5.4

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: 1.2%
• Equity multiple: 1.05×
• Total profit: $2,617
• Equity at exit: $29,821

10-year hold

• IRR: 9.5%
• Equity multiple: 1.69×
• Total profit: $38,562
• Equity at exit: $17,292

Cash invested: $56,000 (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: 354
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $3,061 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$53 /mo · $634/yr
• Insurance: −$83
• HOA: −$632
• Vacancy / Maint / Mgmt: −$643
• Net cashflow: $601

Break-even live

Break-even rent $2,300

Max offer price $200,000

Occupancy floor 75%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
872 NW 29th Ave Unit A Delray Beach, FL	2.0	2.0	1188	$2,700	$2.27	24d	1	0.04mi
2622 NW 7th Ct Delray Beach, FL	2.0	2.5	1384	$2,750	$1.99	24d	1	0.15mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	17d	1	0.15mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	24d	1	0.15mi
2712 Lake Ida Rd Delray Beach, FL	3.0	2.0	1604	$4,000	$2.49	8d	1	0.15mi
2941 Angler Dr Delray Beach, FL	3.0	2.0	1578	$5,000	$3.17	24d	1	0.17mi
2915 NW 12th St Unit D Delray Beach, FL	2.0	2.0	1499	$3,200	$2.13	8d	1	0.22mi
2583 NW 13th St Delray Beach, FL	2.0	2.0	1466	$2,600	$1.77	17d	1	0.29mi
945 Sunflower Ave Delray Beach, FL	3.0	2.0	1755	$4,500	$2.56	8d	1	0.39mi
3996 NW 7th Ct Delray Beach, FL	3.0	2.0	1480	$5,000	$3.38	24d	1	0.44mi
4110 NW 10th St Delray Beach, FL	3.0	2.5	1839	$4,500	$2.45	24d	1	0.52mi
328 W Coral Trace Cir Delray Beach, FL	3.0	2.5	1632	$3,500	$2.14	22d	1	0.53mi
328 W Coral Trace Cir Unit 328 Delray Beach, FL	3.0	2.5	1632	$3,500	$2.14	11d	1	0.53mi
1630 NW 22nd Ave Delray Beach, FL	3.0	2.0	1560	$4,200	$2.69	24d	1	0.55mi
500 N Congress Ave Delray Beach, FL	2.0–3.0	1.0–2.0	989	$2,295	$2.32	2d	6	0.57mi
3935 Village Dr Delray Beach, FL	3.0	3.0	1326	$2,700	$2.04	5d	1	0.58mi
3935 Village Dr Unit A Delray Beach, FL	3.0	3.0	1326	$2,700	$2.04	8d	1	0.58mi
775 North Dr Unit A Delray Beach, FL	2.0	2.0	1175	$2,000	$1.70	11d	1	0.58mi
315 Coral Trace Ln Delray Beach, FL	3.0	2.0	1576	$3,800	$2.41	8d	1	0.59mi
1225 E Magnolia Cir Delray Beach, FL	3.0	2.0	1705	$3,700	$2.17	24d	1	0.64mi
707 High Point Blvd N Unit C Delray Beach, FL	1.0	1.5	994	$1,600	$1.61	24d	1	0.64mi
1440 NW 20th Ave #104 Delray Beach, FL	2.0	2.0	1335	$2,650	$1.99	14d	1	0.66mi
227 Coral Trace Ln Unit 227 Delray Beach, FL	2.0	2.0	1376	$3,100	$2.25	24d	1	0.66mi
1770 NW 22nd Ave Delray Beach, FL	3.0	2.0	1850	$7,000	$3.78	17d	1	0.66mi
1142 Circle Ter W Unit C Delray Beach, FL	1.0	1.5	1080	$1,700	$1.57	3d	1	0.68mi
2480 S Coral Trace Cir Delray Beach, FL	2.0	2.0	1379	$2,900	$2.10	8d	1	0.70mi
1152 Circle Dr Unit D Delray Beach, FL	2.0	2.0	1200	$2,000	$1.67	24d	1	0.70mi
1155 South Drive Cir Unit A Delray Beach, FL	2.0	2.0	1080	$2,195	$2.03	24d	1	0.70mi
1152 Circle Dr Unit D Delray Beach, FL	2.0	2.0	1200	$2,000	$1.67	12d	1	0.70mi
2450 S Coral Trace Cir Delray Beach, FL	3.0	2.0	1576	$2,975	$1.89	24d	1	0.72mi
4311 N Magnolia Cir Delray Beach, FL	3.0	2.0	1705	$3,100	$1.82	24d	1	0.74mi
1441 NW 19th Ter #201 Delray Beach, FL	2.0	2.0	1148	$2,250	$1.96	24d	1	0.74mi
1551 NW 20th Ave #102 Delray Beach, FL	2.0	2.0	1148	$1,995	$1.74	24d	1	0.74mi
13487 Barwick Rd Unit B Delray Beach, FL	2.0	1.5	1092	$3,900	$3.57	24d	1	0.75mi
1860 NW 13th St #201 Delray Beach, FL	2.0	2.0	1335	$2,800	$2.10	24d	1	0.76mi
1520 NW 19th Ter #203 Delray Beach, FL	2.0	2.0	1335	$2,200	$1.65	24d	1	0.76mi
2513 Coral Trace Pl Delray Beach, FL	3.0	2.5	1632	$3,500	$2.14	24d	1	0.76mi
4310 Village Dr Unit D Delray Beach, FL	3.0	3.0	1326	$2,600	$1.96	24d	1	0.76mi
512 High Point Dr Unit C Delray Beach, FL	1.0	2.0	994	$2,100	$2.11	20d	1	0.76mi
1640 NW 19th Ter #103 Delray Beach, FL	2.0	2.0	1148	$1,950	$1.70	8d	1	0.77mi

HOA detail

• Monthly dues: $632 · $7,584/yr
• Likely covers: roofpool

Listing history 36 events

1. 2026-06-18
   days on market $200,000 Active 38 DOM
2. 2026-06-17
   days on market $200,000 Active 37 DOM
3. 2026-06-16
   days on market $200,000 Active 36 DOM
4. 2026-06-15
   days on market $200,000 Active 35 DOM
5. 2026-06-13
   days on market $200,000 Active 33 DOM
6. 2026-06-09
   days on market $200,000 Active 29 DOM
7. 2026-06-08
   days on market $200,000 Active 28 DOM
8. 2026-06-07
   days on market $200,000 Active 27 DOM
9. 2026-06-04
   days on market $200,000 Active 24 DOM
10. 2026-06-03
    days on market $200,000 Active 23 DOM
11. 2026-06-02
    days on market $200,000 Active 22 DOM
12. 2026-06-01
    days on market $200,000 Active 21 DOM
13. 2026-05-31
    days on market $200,000 Active 20 DOM
14. 2026-05-08
    listed $200,000 Active
15. 2023-08-06
    historical
16. 2023-04-14
    price $284,900
17. 2023-04-07
    price $289,900
18. 2023-02-07
    listed $295,000 Active
19. 2020-08-31
    historical
20. 2020-08-31
    status Active
21. 2020-07-25
    status Active
22. 2020-04-09
    status Active
23. 2020-03-17
    historical Hold
24. 2020-03-10
    status Active
25. 2020-02-04
    historical Hold
26. 2020-02-01
    status Active
27. 2020-01-16
    historical Hold
28. 2019-12-10
    price $159,999
29. 2019-11-30
    price $162,500
30. 2019-11-23
    listed $167,500 Active
31. 2003-03-31
    soldstatus $54,000
32. 2003-02-17
    historical
33. 2003-02-11
    listed $55,000
34. 2001-02-20
    soldstatus $62,000
35. 1996-06-03
    soldstatus $52,000
36. 1989-03-15
    soldstatus $70,000

ⓘ 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: $634 · $53/mo
• Projected year-2 tax: $1,660 · $138/mo
• Expected delta: +$1,026/yr (+$86/mo · 162.0%)

ⓘ 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 ≥106°F today · 26 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: $36,727
• − Mortgage interest: −$11,203
• − Property taxes: −$634
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,938
• − Management: −$2,938
• − HOA: −$7,584
• − Depreciation: −$5,818
• Taxable income: $4,612
• Est. tax owed @ 24.0%: −$1,107
• After-tax cash flow: $6,104/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

+185.7% since first listed

23 events — show timeline

• 2026-05-08 Listed $200,000 Beaches MLS
• 2023-08-06 Listing Removed — MARMLS
• 2023-04-14 Price Changed $284,900 MARMLS
• 2023-04-07 Price Changed $289,900 MARMLS
• 2023-02-07 Listed $295,000 MARMLS
• 2020-08-31 Listing Removed — MARMLS
• 2020-08-31 Relisted — MARMLS
• 2020-07-25 Relisted — MARMLS
• 2020-04-09 Relisted — MARMLS
• 2020-03-17 Delisted — MARMLS
• 2020-03-10 Relisted — MARMLS
• 2020-02-04 Delisted — MARMLS
• 2020-02-01 Relisted — MARMLS
• 2020-01-16 Delisted — MARMLS
• 2019-12-10 Price Changed $159,999 MARMLS
• 2019-11-30 Price Changed $162,500 MARMLS
• 2019-11-23 Listed $167,500 MARMLS
• 2003-03-31 Sold (MLS) $54,000 Beaches MLS
• 2003-02-17 Listing Removed — Beaches MLS
• 2003-02-11 Listed $55,000 Beaches MLS
• 2001-02-20 Sold (Public Records) $62,000 Public Records
• 1996-06-03 Sold (Public Records) $52,000 Public Records
• 1989-03-15 Sold (Public Records) $70,000 Public Records

Property tax history

-2.4%/yr

Latest (2025): $634 · +26.8% YoY. Source: county tax records.