5844 Areca Palm Ct., Unit B · Delray Beach, FL 33484

$270,000

2 bd · 2.0 ba · 1,383 sqft · Condo public records · 139 Days on market

Built 1980 $660/mo HOA · 24% 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).

• Cash flow +10.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BEAUTIFUL UPDATED 2 BEDROOM, TWO BATH CONDO WITH NEWER AAPLIANCES AND GRANITE COUTER TOPS, NEW VIEWS OF LARGE LAKE. PATIO IS ENCLOSED WITH IMPACT WINDOWS. BATHROOMS UPDATED, NEW FLOORS, NO POPCORN. REALLY LOVELY CONDO A REAL MUST SEE

Key facts

• Renovated
• Clubhouse
• Club pool

Tags

• WATER VIEW
• RENOVATED
• IMPACT WINDOWS
• SCREENED-IN BALCONY
• CLUBHOUSE
• CLUB POOL

Property features AI

Finance

• Other: Association fee payment is monthly
• Financial info: Pets not allowed
• HOA & community: Community amenities include pool, spa/hot tub, fitness center, clubhouse, tennis courts, pickleball court(s), shuffleboard court, basketball court, bocce ball, billiard & game rooms, library, cafe/restaurant, trails, management and on-site manager; HOA dues paid monthly; HOA includes cable TV, insurance, sewer, trash, water, common areas and recreation facilities; Internet included; Senior community

Exterior

• Parking: Assigned parking; Guest parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Multi-level / split levels; Faces south
• Construction: Built with CBS and other materials; Composition/shingle roof; 2 stories
• Exterior features: Waterfront property

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Garbage disposal; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile; Vinyl
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Walk-in closets; Split bedroom layout; Unfurnished
• Laundry & utility: Washer hookup inside (laundry closet)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $270k.

Deal economics

• At list price, monthly cash flow is $-161 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $242k (10.5% below list).
• Meets the 1% rule at list price ($3k rent vs $270k).
• Recommended offer: $238k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.6% vs local median 4.4% in Delray Beach — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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).
• At $2,778/mo this rent would consume 54% of the median local household income ($62k/yr) (locally 991% 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 $2k of loan paydown is wiped out by about $8k 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 139 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y ago; this cycle's ask is 50% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 24% 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 $237,600 (12.0% 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 139 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.03% ✓
• Cap rate: 5.58%
• Cash-on-cash: -2.55%
• DSCR: 0.89
• GRM: 8.1

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: -18.6%
• Equity multiple: 0.34×
• Total profit: $-50,029
• Equity at exit: $40,258

10-year hold

• IRR: -7.8%
• Equity multiple: 0.47×
• Total profit: $-40,100
• Equity at exit: $23,345

Cash invested: $75,600 (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.

Methodology + full state rankings →

ZIP-level market 33484

• Rents YoY: 4.3%
• Active inventory: 546
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,778 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$167 /mo · $2,008/yr
• Insurance: −$112
• HOA: −$660
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $-161

Break-even live

Break-even rent $2,982

Max offer price $241,586

Occupancy floor —

Sensitivity live

Price	-10% $-8	-5% $-84	+0% $-161	+5% $-237	+10% $-314
Rent	-10% $-380	-5% $-271	+0% $-161	+5% $-51	+10% $59
Rate	-1.0pp $-25	-0.5pp $-92	base $-161	+0.5pp $-231	+1.0pp $-302

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13759 Date Palm Ct Unit A Delray Beach, FL	2.0	2.0	1247	$3,500	$2.81	25d	1	0.02mi
5655 Via Delray Delray Beach, FL	2.0	2.0	1205	$2,200	$1.83	25d	1	0.09mi
13431 Amber Waves Ave Delray Beach, FL	2.0	2.0	1390	$3,500	$2.52	25d	1	0.12mi
5449 Grande Palm Cir Delray Beach, FL	3.0	2.5	1618	$4,000	$2.47	25d	1	0.16mi
5449 Grande Palm Cir Delray Beach, FL	3.0	2.5	1618	$4,000	$2.47	18d	1	0.16mi
13653 Jubilee Ln Delray Beach, FL	3.0	2.0	1305	$3,450	$2.64	14d	1	0.17mi
5462 Via Delray #123 Delray Beach, FL	2.0	2.0	1200	$2,700	$2.25	21d	1	0.19mi
13255 Royale Sabal Ct Delray Beach, FL	3.0	2.5	1618	$4,300	$2.66	25d	1	0.21mi
13670 Via Flora Delray Beach, FL	2.0	2.0	1021	$1,400	$1.37	16d	1	0.21mi
13670 Via Flora Delray Beach, FL	2.0	2.0	1021	$1,400	$1.37	25d	1	0.21mi
13741 Flora Pl Unit B Delray Beach, FL	2.0	2.0	989	$2,100	$2.12	22d	1	0.26mi
5675 Queen Palm Ct Delray Beach, FL	2.0	2.0	1200	$2,600	$2.17	25d	1	0.26mi
5908 Via Delray Blvd Delray Beach, FL	2.0	2.0	1221	$2,000	$1.64	25d	1	0.26mi
13721 Flora Pl Unit D Delray Beach, FL	2.0	2.0	1097	$1,900	$1.73	6d	1	0.29mi
13721 Flora Pl Unit D Delray Beach, FL	2.0	2.0	1097	$1,850	$1.69	25d	1	0.29mi
13731 Flora Pl Unit A Delray Beach, FL	2.0	2.0	1097	$1,850	$1.69	25d	1	0.29mi
13817 Royal Palm Ct Unit B Delray Beach, FL	2.0	2.0	1205	$3,200	$2.66	25d	1	0.30mi
13787 Flora Pl Unit A Delray Beach, FL	2.0	2.0	1097	$2,500	$2.28	25d	1	0.36mi
5260 Grande Palm Cir Delray Beach, FL	3.0	2.0	1464	$2,800	$1.91	25d	1	0.36mi
13657 Night Sky Pl Delray Beach, FL	2.0	2.0	1319	$3,200	$2.43	8d	1	0.36mi
13682 Via Flora Unit H Delray Beach, FL	2.0	2.0	1097	$1,900	$1.73	25d	1	0.38mi
13921 Royal Palm Ct Unit D Delray Beach, FL	2.0	2.0	1205	$4,000	$3.32	8d	1	0.40mi
5850 Sugar Palm Ct Delray Beach, FL	2.0	2.0	1198	$3,300	$2.75	25d	1	0.42mi
13776 Hero Path Delray Beach, FL	3.0	2.0	1319	$3,400	$2.58	25d	1	0.43mi
13283 Pineapple Palm Ct Unit F Delray Beach, FL	2.0	2.0	1198	$2,100	$1.75	8d	1	0.43mi
13283 Pineapple Palm Ct Unit F Delray Beach, FL	2.0	2.0	1198	$2,100	$1.75	25d	1	0.43mi
13419 Noble Dr Delray Beach, FL	2.0	2.0	1410	$3,600	$2.55	18d	1	0.44mi
13886 Via Flora Unit A Delray Beach, FL	2.0	2.0	1097	$2,075	$1.89	25d	1	0.46mi
5200 Privet Pl Unit C Delray Beach, FL	2.0	2.0	1457	$1,850	$1.27	25d	1	0.47mi
13297 Via Vulcanus Unit B Delray Beach, FL	2.0	2.0	1527	$3,000	$1.96	8d	1	0.52mi
13916 Via Flora Unit F Delray Beach, FL	2.0	2.0	989	$3,000	$3.03	25d	1	0.52mi
6038 Lasalle Rd Delray Beach, FL	2.0	2.0	1475	$2,100	$1.42	5d	1	0.56mi
13990 Nesting Way Unit C Delray Beach, FL	1.0	2.0	1092	$2,300	$2.11	25d	1	0.56mi
5093 Privet Pl Unit A-1 Delray Beach, FL	2.0	2.0	1220	$2,350	$1.93	25d	1	0.56mi
5061 Nesting Way Unit D Delray Beach, FL	2.0	2.0	1255	$2,400	$1.91	25d	1	0.57mi
5574 Royal Lake Cir Boynton Beach, FL	3.0	2.0	1658	$5,000	$3.02	15d	1	0.61mi
14040 Nesting Way Unit B Delray Beach, FL	1.0	2.0	1092	$1,700	$1.56	25d	1	0.62mi
5952 Regal Glen Dr #103 Boynton Beach, FL	3.0	2.0	1813	$2,550	$1.41	25d	1	0.63mi
14139 Nesting Way Unit A Delray Beach, FL	2.0	2.0	1255	$2,200	$1.75	12d	1	0.65mi
1418 W Wickham Cir Unit B Delray Beach, FL	3.0	2.5	1316	$3,200	$2.43	18d	1	0.67mi

HOA detail condo

• Monthly dues: $660 · $7,920/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $270,000 Active 139 DOM
2. 2026-06-17
   days on market $270,000 Active 138 DOM
3. 2026-06-16
   days on market $270,000 Active 137 DOM
4. 2026-06-15
   days on market $270,000 Active 136 DOM
5. 2026-06-13
   days on market $270,000 Active 134 DOM
6. 2026-06-09
   days on market $270,000 Active 130 DOM
7. 2026-06-07
   days on market $270,000 Active 128 DOM
8. 2026-06-04
   days on market $270,000 Active 125 DOM
9. 2026-06-03
   days on market $270,000 Active 124 DOM
10. 2026-06-01
    days on market $270,000 Active 122 DOM
11. 2026-05-31
    days on market $270,000 Active 121 DOM
12. 2026-03-19
    price $270,000
13. 2026-01-31
    price $280,000
14. 2026-01-30
    listed $180,000 Active
15. 2025-10-24
    historical
16. 2025-07-31
    listed $285,000 Active
17. 2023-07-20
    soldstatus $240,000
18. 2023-07-14
    soldstatus $240,000 Closed 234-char remark

    Show marketing remark (234 chars)

    BEAUTIFUL UPDATED 2 BEDROOM, TWO BATH CONDO WITH NEWER AAPLIANCES AND GRANITE COUTER TOPS, NEW VIEWS OF LARGE LAKE. PATIO IS ENCLOSED WITH IMPACT WINDOWS. BATHROOMS UPDATED, NEW FLOORS, NO POPCORN. REALLY LOVELY CONDO A REAL MUST SEE

19. 2023-04-21
    historical Active Under Contract 234-char remark

    Show marketing remark (234 chars)

    BEAUTIFUL UPDATED 2 BEDROOM, TWO BATH CONDO WITH NEWER AAPLIANCES AND GRANITE COUTER TOPS, NEW VIEWS OF LARGE LAKE. PATIO IS ENCLOSED WITH IMPACT WINDOWS. BATHROOMS UPDATED, NEW FLOORS, NO POPCORN. REALLY LOVELY CONDO A REAL MUST SEE

20. 2023-04-11
    listed $254,900 Active 234-char remark

    Show marketing remark (234 chars)

    BEAUTIFUL UPDATED 2 BEDROOM, TWO BATH CONDO WITH NEWER AAPLIANCES AND GRANITE COUTER TOPS, NEW VIEWS OF LARGE LAKE. PATIO IS ENCLOSED WITH IMPACT WINDOWS. BATHROOMS UPDATED, NEW FLOORS, NO POPCORN. REALLY LOVELY CONDO A REAL MUST SEE

21. 2018-06-11
    soldstatus $125,000
22. 2018-06-08
    soldstatus $125,000 Closed
23. 2018-05-16
    historical Contingent
24. 2018-04-15
    status Pending
25. 2018-04-14
    listed $130,450 Active
26. 2016-08-08
    soldstatus $80,000
27. 2016-08-05
    soldstatus $80,000 Closed
28. 2016-07-08
    historical Active Under Contract
29. 2016-06-03
    listed $104,888 Active
30. 2016-06-02
    historical
31. 2016-05-04
    listed $114,900 Active

ⓘ 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: $2,008 · $167/mo
• Projected year-2 tax: $2,241 · $187/mo
• Expected delta: +$233/yr (+$19/mo · 11.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,340
• − Mortgage interest: −$15,124
• − Property taxes: −$2,008
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,667
• − Management: −$2,667
• − HOA: −$7,920
• − Depreciation: −$7,855
• Taxable loss: −$6,251
• Est. tax savings @ 24.0%: +$1,500
• After-tax cash flow: $-430/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

+135.0% since first listed

20 events — show timeline

• 2026-03-19 Price Changed $270,000 Beaches MLS
• 2026-01-31 Price Changed $280,000 Beaches MLS
• 2026-01-30 Listed $180,000 Beaches MLS
• 2025-10-24 Listing Removed — Beaches MLS
• 2025-07-31 Listed $285,000 Beaches MLS
• 2023-07-20 Sold (Public Records) $240,000 Public Records
• 2023-07-14 Sold (MLS) $240,000 Beaches MLS
• 2023-04-21 Contingent — Beaches MLS
• 2023-04-11 Listed $254,900 Beaches MLS
• 2018-06-11 Sold (Public Records) $125,000 Public Records
• 2018-06-08 Sold (MLS) $125,000 Beaches MLS
• 2018-05-16 Contingent — Beaches MLS
• 2018-04-15 Pending — Beaches MLS
• 2018-04-14 Listed $130,450 Beaches MLS
• 2016-08-08 Sold (Public Records) $80,000 Public Records
• 2016-08-05 Sold (MLS) $80,000 Beaches MLS
• 2016-07-08 Contingent — Beaches MLS
• 2016-06-03 Listed $104,888 Beaches MLS
• 2016-06-02 Listing Removed — Beaches MLS
• 2016-05-04 Listed $114,900 Beaches MLS

Property tax history

+9.6%/yr

Latest (2025): $2,008 · +3.5% YoY. Source: county tax records.