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2811 SW 15th St
D Composite 40.31
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 +14.0/15.0
  • Cash flow +6.3/30.0
  • 1% rule +4.6/10.0
  • Condition / age +4.0/5.0
  • Schools +3.9/10.0
  • Livability +3.9/5.0
  • Rent growth +3.0/5.0
  • DSCR +0.6/10.0
  • Appreciation +0.0/10.0

$245,000

2811 SW 15th St · Delray Beach, FL 33445
2 bd · 2.0 ba · 1,167 sqft · SingleFamily · 28 Days on market
Built 1978 Good condition $210/sqft · 15% below area Est $287k · 15% under $599/mo HOA · 25% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Key facts

  • $599 HOA
  • Parking
  • Community pool

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2-bed/2.0-bath single-family listed at $245k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-431 ($-5k/yr) — negative.
  • To cash-flow at today's rent, offer at most $183k (25.4% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (3.8% below list).
  • Recommended offer: $183k (25.4% 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: 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); 432 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 53d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
  • This rent runs 36% 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 $2k of loan paydown is wiped out by about $7k 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 28 days — a 2% lower offer ($241k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

  • Watch-outs: HOA is 25% 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 $182,649 (25.4% 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 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. 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. 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?
  8. 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.
  9. 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.
  10. 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
0.96%
Cap rate
4.18%
Cash-on-cash
-7.54%
DSCR
0.66
GRM
8.7

CMA / ARV

ARV (median comp)
$286,692
List price
$245,000
Delta
-14.54%
Verdict
UNDERPRICED
Comps
20 within 1.0 mi
Show comp detail 6 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
2511 Black Olive Blvd Unit 41-C 0.25mi 2/2.0 1,167 (0%) 12mo $290,000 $249 78
2824 Crown Ct 0.16mi 2/2.0 1,050 (-10%) 5mo $279,000 $266 71
3817 Arelia Dr S 0.51mi 2/2.0 1,212 (+4%) 5mo $418,000 $345 66
1141 Boxwood Dr Unit B 0.27mi 2/1.5 982 (-16%) 5mo $125,500 $128 56
2521 Juniper Dr Unit 11-b 0.34mi 2/1.5 982 (-16%) 2mo $130,000 $132 56
2866 SW 6th St 0.81mi 2/2.0 1,369 (+17%) 6mo $415,000 $303 35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.83% rent growth · sell at horizon

5-year hold
IRR
-31.1%
Equity multiple
-0.01×
Total profit
$-69,482
Equity at exit
$36,530
10-year hold
IRR
-43.0%
Equity multiple
-0.53×
Total profit
$-105,191
Equity at exit
$21,183

Cash invested: $68,600 (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.
Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
12 active · 5 under contract
Months of supply
18.0 mo (6%/mo absorbed)
Median asking
$329,450 ($283/sqft)
Median days on market
59 d
This list price
17% of active listings are priced below it
ARV vs active asking
-13.1% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33445

Rents YoY
1.8%
Active inventory
432
Price-to-rent
8.7×

Monthly cashflow live

Estimated rent
$2,356 high interval (Pro) →
Mortgage (P&I)
$1,285
Tax est. 1.5%
$306 /mo · $3,675/yr
Insurance
$102
HOA
$599
Vacancy / Maint / Mgmt
$495
Net cashflow
$-431

Break-even live

Break-even rent $2,901
Max offer price $182,649
Occupancy floor

Sensitivity live

Price -10% $-262 -5% $-346 +0% $-431 +5% $-516 +10% $-600
Rent -10% $-617 -5% $-524 +0% $-431 +5% $-338 +10% $-245
Rate -1.0pp $-308 -0.5pp $-369 base $-431 +0.5pp $-494 +1.0pp $-559

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
$61,250
Closing costs
$7,350
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
2730 SW 13th St #203 Delray Beach, FL 2.0 2.0 1084 $2,200 $2.03 73d 1 0.07mi
2835 SW 13th St #201 Delray Beach, FL 2.0 2.0 1144 $1,975 $1.73 68d 1 0.12mi
1705 Palm Cove Blvd Unit 1-105 Delray Beach, FL 2.0 2.0 946 $2,350 $2.48 4d 1 0.15mi
1705 Palm Cove Blvd Apt 302 Delray Beach, FL 1.0 1.0 934 $2,000 $2.14 73d 1 0.15mi
1141 Calamondin Ter #203 Delray Beach, FL 2.0 2.0 1167 $1,700 $1.46 73d 1 0.17mi
1121 Cactus Ter #202 Delray Beach, FL 2.0 2.0 1167 $2,100 $1.80 73d 1 0.18mi
1780 Palm Cove Blvd Unit 6-306 Delray Beach, FL 1.0 1.0 785 $1,900 $2.42 3d 1 0.18mi
3001 San Clara Dr Unit 4A Delray Beach, FL 2.0 2.5 1500 $2,250 $1.50 64d 1 0.19mi
1725 Palm Cove Blvd Unit 2-306 Delray Beach, FL 1.0 1.0 934 $2,100 $2.25 70d 1 0.19mi
1101 Cactus Ter #203 Delray Beach, FL 2.0 2.0 1167 $2,100 $1.80 66d 1 0.20mi
1745 Palm Cove Blvd Delray Beach, FL 2.0 2.0 989 $2,750 $2.78 17d 1 0.20mi
1745 Palm Cove Blvd Unit 3-209 Delray Beach, FL 2.0 2.0 989 $2,750 $2.78 37d 1 0.20mi
1745 Palm Cove Blvd Unit 3-305 Delray Beach, FL 2.0 2.0 1042 $2,500 $2.40 37d 1 0.20mi
1760 Palm Cove Blvd Unit 5-203 Delray Beach, FL 2.0 2.0 993 $2,200 $2.22 63d 1 0.20mi
1760 Palm Cove Blvd Unit 5-203 Delray Beach, FL 2.0 2.0 992 $2,200 $2.22 73d 1 0.20mi
1740 Palm Cove Blvd Unit 4-103 Delray Beach, FL 3.0 2.0 1065 $2,900 $2.72 16d 1 0.20mi
1740 Palm Cove Blvd Unit 4-103 Delray Beach, FL 3.0 2.0 1065 $2,850 $2.68 28d 1 0.20mi
1740 Palm Cove Blvd Apt 103 Delray Beach, FL 3.0 2.0 1065 $2,900 $2.72 73d 1 0.20mi
1845 Palm Cove Blvd Delray Beach, FL 2.0 1.0 857 $2,200 $2.57 42d 1 0.20mi
2722 Peer Ln Unit 187 Delray Beach, FL 2.0 2.0 1000 $2,100 $2.10 11d 1 0.21mi
2520 Black Olive Blvd #203 Delray Beach, FL 2.0 2.0 1167 $1,799 $1.54 73d 1 0.22mi
2520 Black Olive Blvd #203 Delray Beach, FL 2.0 2.0 1167 $1,799 $1.54 53d 1 0.22mi
1130 Cactus Ter Unit 45C Delray Beach, FL 2.0 1.5 982 $2,000 $2.04 73d 1 0.22mi
1825 Palm Cove Blvd Unit 7-105 Delray Beach, FL 2.0 2.0 946 $2,000 $2.11 15d 1 0.22mi
1120 Cactus Ter Unit 46C Delray Beach, FL 2.0 2.0 982 $2,500 $2.55 4d 1 0.22mi
1845 Palm Cove Blvd Unit 8-107 Delray Beach, FL 2.0 2.0 1009 $2,200 $2.18 34d 1 0.23mi
1845 Palm Cove Blvd Unit 8-302 Delray Beach, FL 1.0 1.0 934 $2,050 $2.19 10d 1 0.23mi
1845 Palm Cove Blvd Unit 8-301 Delray Beach, FL 2.0 1.0 857 $2,100 $2.45 42d 1 0.23mi
1845 Palm Cove Blvd Unit 8-103 Delray Beach, FL 3.0 2.0 1065 $2,500 $2.35 68d 1 0.23mi
2715 Ponce de Leon Blvd Delray Beach, FL 2.0 1.0 1000 $2,200 $2.20 73d 1 0.23mi
3008 San Clara Dr Unit 12B Delray Beach, FL 2.0 2.5 1230 $2,700 $2.20 43d 1 0.24mi
2731 Knight Ln Delray Beach, FL 2.0 2.0 1050 $2,650 $2.52 37d 1 0.24mi
1850 Homewood Blvd Delray Beach, FL 2.0 2.0 1090 $2,550 $2.34 34d 1 0.25mi
1850 Homewood Blvd #2070 Delray Beach, FL 2.0 2.0 1090 $2,550 $2.34 73d 1 0.25mi
1120 Homewood Blvd Unit G204 Delray Beach, FL 2.0 2.0 1247 $2,525 $2.02 32d 1 0.27mi
2450 Black Olive Blvd Unit A Delray Beach, FL 2.0 2.0 1167 $1,950 $1.67 73d 1 0.29mi
2450 Black Olive Blvd Unit A Delray Beach, FL 2.0 2.0 1167 $1,950 $1.67 64d 1 0.29mi
1141 Violet Ter #201 Delray Beach, FL 2.0 2.0 1167 $2,200 $1.89 38d 1 0.30mi
3118 Spanish Wells Dr Unit 15B Delray Beach, FL 2.0 2.5 1230 $2,650 $2.15 73d 1 0.30mi
1460 Augusta Cir #134 Delray Beach, FL 2.0 2.5 1288 $2,750 $2.14 8d 1 0.30mi

Property features AI

Finance

Other
Senior community
Financial info
Pets not allowedCommunity contains 684 units
HOA & community
Pines of Delray West associationMonthly HOA feeAssociation amenities: clubhouse, pool, spa/hot tub, fitness center, tennis courts, shuffleboard, billiard room, game room, community room, library, manager on site, parking, sidewalks, street lights, maintenanceHOA covers: cable TV, insurance, grounds maintenance, security, sewer, trash, water, common areas

Exterior

Parking
Assigned parking and guest parking1 open parking space (total 1)
Security
Closed-circuit camerasSmoke detectorsSecurity patrol
Utilities
Public waterPublic sewerThree-phase electricCable connected
Home design
Condominium2-story buildingFaces southwestResale property
Construction
CBS constructionComposition/shingle roofBuilt as part of a 12-building community
Exterior features
WaterfrontCommunity sidewalksStreet lightsMaintenance provided

Interior

Kitchen
DisposalDishwasherElectric rangeMicrowaveRefrigeratorElectric water heater
Bedrooms
No main level bedrooms
Flooring
Ceramic tile
Bathrooms
2 full bathrooms
Heating & cooling
Central heating (electric)Central air conditioning (electric)Ceiling fans
Interior features
Walk-in closetsBlinds
Laundry & utility
Laundry inside (in kitchen)

Listing history 3 events

  1. 2026-05-31
    days on market $245,000 Active 28 DOM
  2. 2026-05-03
    listed $245,000 Active
  3. 2023-07-14
    historical

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$28,272
− Mortgage interest
−$13,724
− Property taxes
−$3,675
− Insurance
−$1,225
− Repairs & maintenance
−$2,262
− Management
−$2,262
− HOA
−$7,188
− Depreciation
−$7,127
Taxable loss
−$9,191
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$2,206
After-tax cash flow
$-2,965/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab Est. rehab $5,835–$17,505 screening

This single-family home is in good condition with modern updates and a good curb appeal. It is ready for a new owner or tenant.

Value-add opportunities

  • Both Painting exterior siding — Enhances curb appeal and value
  • Both Landscaping improvements — Enhances curb appeal and value
  • Both Replace ceiling fans with energy-efficient models — Saves on energy costs and improves comfort

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 38/100

Zoned Schools

Elementary Orchard View Elementary School D FL #1,182/2,144 Nat'l #14,382/41,679 Middle Carver Middle School F FL #486/571 Nat'l #9,545/14,009 High Atlantic High School F FL #296/667 Nat'l #8,112/17,239

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
B Composite livability gradescore 77/100

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 · 1,637,487 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
14% of renters

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

Price history

3 events — show timeline
  • 2026-05-31 Listing Removed Beaches MLS
  • 2026-05-03 Listed $245,000 Beaches MLS
  • 2023-07-14 Rental Removed RMLSFL

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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