74 Burgundy B · Delray Beach, FL 33484

$98,500

2 bd · 2.0 ba · 1,010 sqft · Condo public records · 210 Days on market

Built 1978 $694/mo HOA · 34% 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 +25.2/30.0
• 1% rule +10.0/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

OMG ! Don't miss the opportunity to own this peaceful nicely renovated 2 bedrooms, 2bath condo! Have a cup of coffee with the garden view in the enclosed Florida Room ! A/C installed in 2018, the Water Heater, is 3 years old . .. Kings Point is offering the 5 * resort life : two 18-hole golf courses - indoor/outdoor pools, tennis, fitness room, pickle-ball, Theater, Billard, Library, Ping Pong, Cafe Restaurant 24 security man gated courtesy shuttle, plenty of clubs and more . .. Bored in Kings Point ? Never !

Key facts

• Garden view
• Two golf courses
• Indoor outdoor pools

Tags

• GARDEN VIEW
• ENCLOSED FLORIDA ROOM
• TWO GOLF COURSES
• INDOOR OUTDOOR POOLS
• FITNESS ROOM
• PICKLE-BALL

Property features AI

Finance

• Other: Directions: After the man gated on Lincoln Road, turn right, go straight until Capri I, turn right and left; follow the road — Burgundy B will be on your left
• Financial info: Pets not allowed; Property is part of a senior community
• HOA & community: Association: Phoenix Management; Monthly HOA fee (approx.): $694; HOA covers cable TV, insurance, grounds maintenance, security, common areas, elevator, reserves, roof repairs, recreation facilities, and pool service; Community amenities include clubhouse, fitness center, indoor pool, pool, tennis courts, pickleball courts, shuffleboard court, billiard room, library, cafe/restaurant, courtesy bus, gated access, and security

Exterior

• Parking: Assigned parking (1 open/assigned space, total 1)
• Security: Gated community with guard
• Utilities: Public water; Public sewer; Sewer available
• Home design: Condominium; Multi/split levels; North-facing; 2 total stories; Resale condition; Living area approximately 902
• Construction: Built with CBS construction; Wood truss/rafter roof
• Exterior features: Not waterfront

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on main level
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms on main level
• Heating & cooling: Central individual heating; Central individual cooling; Ceiling fans
• Interior features: Walk-in closets; Furnished
• Laundry & utility: Laundry inside unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $98k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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.
• Market conditions: Rents rising fast (+4.3%/yr); 546 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); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 39% 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 $681 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 210 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $11k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $27k; list at $98k implies a 265% 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 $86,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 210 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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. 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. 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: 2.07% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.65%
• DSCR: 1.43
• GRM: 4.0

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: 1.2%
• Equity multiple: 1.05×
• Total profit: $1,298
• Equity at exit: $14,687

10-year hold

• IRR: 13.2%
• Equity multiple: 2.18×
• Total profit: $32,433
• Equity at exit: $8,516

Cash invested: $27,580 (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: 546
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,041 high
• Mortgage (P&I): −$517
• Tax from tax record: −$139 /mo · $1,665/yr
• Insurance: −$41
• HOA: −$694
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $222

Break-even live

Break-even rent $1,760

Max offer price $98,500

Occupancy floor 84%

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: $24,625
• Closing costs: $2,955
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
39 Burgundy a Delray Beach, FL	2.0	2.0	902	$1,400	$1.55	24d	1	0.06mi
29 Burgundy a Delray Beach, FL	2.0	2.0	902	$1,800	$2.00	24d	1	0.10mi
481 Burgundy K #481 Delray Beach, FL	2.0	2.0	1200	$1,700	$1.42	19d	1	0.11mi
481 Burgundy K Delray Beach, FL	2.0	2.0	902	$1,700	$1.88	24d	1	0.11mi
509 Capri Dr Unit 509 Delray Beach, FL	2.0	2.0	910	$2,500	$2.75	2d	1	0.14mi
507 Capri Dr Delray Beach, FL	2.0	2.0	910	$2,200	$2.42	24d	1	0.14mi
522 Capri K Unit K Delray Beach, FL	1.0	1.5	730	$1,350	$1.85	24d	1	0.20mi
560 Capri Ln Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	24d	1	0.24mi
556 Capri L Unit L Delray Beach, FL	2.0	2.0	910	$1,575	$1.73	24d	1	0.26mi
16218 Sierra Palms Dr Delray Beach, FL	3.0	2.5	1474	$3,250	$2.20	20d	1	0.29mi
207 Capri E #207 Delray Beach, FL	2.0	2.0	910	$1,700	$1.87	8d	1	0.30mi
5220 Las Verdes Cir #101 Delray Beach, FL	2.0	2.0	876	$1,950	$2.23	5d	1	0.31mi
5310 Las Verdes Cir #106 Delray Beach, FL	2.0	2.0	1050	$1,900	$1.81	24d	1	0.31mi
5220 Las Verdes Cir Delray Beach, FL	2.0	2.0	963	$1,825	$1.90	22d	2	0.31mi
115 Capri B Unit 115 Delray Beach, FL	2.0	2.0	1044	$2,000	$1.92	24d	1	0.33mi
812 Burgundy Q Delray Beach, FL	2.0	2.0	907	$1,799	$1.98	24d	1	0.33mi
468 Capri J Delray Beach, FL	2.0	2.0	910	$1,400	$1.54	24d	1	0.34mi
998 Normandy Trl Unit 998 Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	24d	1	0.34mi
998 Normandy Trl Unit 998 Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	15d	1	0.34mi
66 Capri B #66 Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	19d	1	0.34mi
66 Capri B Unit B Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	15d	1	0.35mi
5241 Breadfruit Cir Delray Beach, FL	3.0	2.0	1462	$3,500	$2.39	21d	1	0.35mi
416 Burgundy N Unit I Delray Beach, FL	1.0	1.5	760	$2,100	$2.76	24d	1	0.36mi
481 Burgundy N Unit NA Delray Beach, FL	2.0	2.0	1200	$1,700	$1.42	24d	1	0.36mi
519 Burgundy K Delray Beach, FL	1.0	1.5	760	$2,400	$3.16	24d	1	0.36mi
313 Burgundy G Delray Beach, FL	2.0	2.0	907	$2,050	$2.26	24d	1	0.36mi
767 Burgundy P Delray Beach, FL	2.0	2.0	902	$1,550	$1.72	24d	1	0.36mi
599 Burgundy M Delray Beach, FL	3.0	2.0	1097	$2,100	$1.91	4d	1	0.36mi
548 Burgundy L Delray Beach, FL	2.0	2.0	902	$1,900	$2.11	8d	1	0.36mi
949 Normandy Trl Unit 949 Delray Beach, FL	2.0	2.0	907	$3,500	$3.86	24d	1	0.37mi
5190 Las Verdes Cir #315 Delray Beach, FL	2.0	2.0	930	$2,000	$2.15	8d	1	0.37mi
98 Capri C Delray Beach, FL	1.0	1.5	795	$1,695	$2.13	24d	1	0.37mi
930 Normandy T Delray Beach, FL	1.0	1.5	760	$2,800	$3.68	8d	1	0.38mi
542 Normandy Ln Unit 542 Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	24d	1	0.43mi
960 Flanders T Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	24d	1	0.43mi
16344 Country Lake Cir Delray Beach, FL	2.0	2.0	943	$2,250	$2.39	5d	1	0.43mi
16344 Country Lake Cir Delray Beach, FL	2.0	2.0	943	$2,150	$2.28	5d	1	0.43mi
5130 Las Verdes Cir #101 Delray Beach, FL	2.0	2.0	1030	$1,825	$1.77	24d	1	0.45mi
5299 Copperleaf Cir Delray Beach, FL	2.0	2.0	1070	$2,000	$1.87	24d	1	0.46mi
811 Flanders Q Delray Beach, FL	2.0	2.0	920	$1,700	$1.85	3d	1	0.48mi

HOA detail condo

• Monthly dues: $694 · $8,328/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $98,500 Active 210 DOM
2. 2026-06-17
   days on market $98,500 Active 209 DOM
3. 2026-06-16
   days on market $98,500 Active 208 DOM
4. 2026-06-15
   days on market $98,500 Active 207 DOM
5. 2026-06-13
   days on market $98,500 Active 205 DOM
6. 2026-06-09
   days on market $98,500 Active 201 DOM
7. 2026-06-07
   days on market $98,500 Active 199 DOM
8. 2026-06-04
   days on market $98,500 Active 196 DOM
9. 2026-06-03
   days on market $98,500 Active 195 DOM
10. 2026-06-01
    days on market $98,500 Active 193 DOM
11. 2026-05-31
    days on market $98,500 Active 192 DOM
12. 2026-03-17
    price $98,500
13. 2026-01-30
    price $104,500
14. 2025-11-18
    listed $109,900 Active
15. 2025-05-22
    historical
16. 2025-03-13
    status Active
17. 2025-02-17
    historical Active Under Contract
18. 2025-01-28
    price $129,500
19. 2024-12-27
    price $134,500
20. 2024-11-24
    listed $140,000 Active
21. 2024-09-01
    historical
22. 2024-02-16
    listed $174,000 Active
23. 2013-06-21
    soldstatus $27,000
24. 1994-02-17
    soldstatus $40,000

ⓘ 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: $1,665 · $139/mo
• Projected year-2 tax: $1,665 · $139/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 ≥106°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: $24,489
• − Mortgage interest: −$5,518
• − Property taxes: −$1,665
• − Insurance: −$492
• − Repairs & maintenance: −$1,959
• − Management: −$1,959
• − HOA: −$8,328
• − Depreciation: −$2,865
• Taxable income: $1,702
• Est. tax owed @ 24.0%: −$409
• After-tax cash flow: $2,254/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

+146.2% since first listed

13 events — show timeline

• 2026-03-17 Price Changed $98,500 Beaches MLS
• 2026-01-30 Price Changed $104,500 Beaches MLS
• 2025-11-18 Listed $109,900 Beaches MLS
• 2025-05-22 Listing Removed — Beaches MLS
• 2025-03-13 Relisted — Beaches MLS
• 2025-02-17 Contingent — Beaches MLS
• 2025-01-28 Price Changed $129,500 Beaches MLS
• 2024-12-27 Price Changed $134,500 Beaches MLS
• 2024-11-24 Listed $140,000 Beaches MLS
• 2024-09-01 Listing Removed — Beaches MLS
• 2024-02-16 Listed $174,000 Beaches MLS
• 2013-06-21 Sold (Public Records) $27,000 Public Records
• 1994-02-17 Sold (Public Records) $40,000 Public Records

Property tax history

+8.1%/yr

Latest (2025): $1,665 · -4.0% YoY. Source: county tax records.