1561 NW 20th Ave #101 · Delray Beach, FL 33445

$148,000

2 bd · 2.0 ba · 1,148 sqft · Condo public records · 44 Days on market

Built 1980 $599/mo HOA · 25% of rent

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Why this score? — see what drove the C+ 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 +23.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 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 MLS

BANK OWNED FORECLOSURE PRICED TO SELL QUICKLY!!! 2 bed/2 bath UNIT W/ LARGE SCREENED PATIO, HURRICANE SHUTTERS, TILED KITCH, PARQUET FLOORS IN MASTER BDRM, GATED COMM 55 AND OVER 12

Key facts

• Clubhouses renovated
• $599 HOA
• 2 parking spots

Tags

• FIRST FLOOR CORNER UNIT
• RECENTLY REPLACED ROOF
• CLUBHOUSES RENOVATED

Property features AI

Finance

• Other: Pets not allowed; Senior community
• Financial info: Not a land lease property
• HOA & community: Belongs to Pines of Delray North HOA; Monthly HOA fee; HOA amenities include clubhouse, fitness center, game room, pool (heated), spa/hot tub, tennis and shuffleboard courts, business center, community room, manager on site, parking, maintenance, internet included, gated/security, street lights, and recreation facilities; HOA fee covers cable TV, insurance, structure maintenance, pest control, security, sewer, trash, water, common areas, reserve funds, roof repairs, recreation facility and pool service

Exterior

• Parking: 2 parking spaces total; Assigned parking plus guest parking; 1 open parking space
• Security: Gated community with guard; Security gate
• Utilities: Public water; Public sewer; Cable available; Water and sewer available
• Home design: Condominium; One level living (unit in a 2-story building); Resale property; Faces southeast; Not waterfront
• Construction: Concrete/Stucco/CBS construction; Shingle roof; Slab foundation; Built as part of a 2-story building
• Exterior features: Screened patio and patio; Fenced (other); Located on a cul-de-sac; Private asphalt road

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Disposal; Water purifier (owned)
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Engineered wood
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Blinds and shutters
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $148k.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $148k).
• Recommended offer: $144k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 22d 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).
• This rent runs 37% 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 $1k of loan paydown is wiped out by about $4k 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 44 days — a 3% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• 5 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 $35k; list at $148k implies a 323% gain — meaningful room to come down on a strong offer.

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 $143,560 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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 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: 1.64% ✓
• Cap rate: 8.42%
• Cash-on-cash: 7.58%
• DSCR: 1.34
• GRM: 5.1

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: -6.4%
• Equity multiple: 0.77×
• Total profit: $-9,706
• Equity at exit: $22,067

10-year hold

• IRR: 1.3%
• Equity multiple: 1.08×
• Total profit: $3,415
• Equity at exit: $12,796

Cash invested: $41,440 (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: 5.1×

Monthly cashflow live

• Estimated rent: $2,435 high
• Mortgage (P&I): −$776
• Tax from tax record: −$225 /mo · $2,695/yr
• Insurance: −$62
• HOA: −$599
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $262

Break-even live

Break-even rent $2,103

Max offer price $148,000

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: $37,000
• Closing costs: $4,440
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1551 NW 20th Ave #102 Delray Beach, FL	2.0	2.0	1148	$1,995	$1.74	24d	1	0.02mi
1860 NW 13th St #201 Delray Beach, FL	2.0	2.0	1335	$2,800	$2.10	24d	1	0.04mi
1520 NW 19th Ter #203 Delray Beach, FL	2.0	2.0	1335	$2,200	$1.65	24d	1	0.04mi
1560 NW 18th Ave #104 Delray Beach, FL	2.0	2.0	1148	$2,100	$1.83	22d	1	0.05mi
1560 NW 18th Ave #104 Delray Beach, FL	2.0	2.0	1148	$2,100	$1.83	20d	1	0.05mi
1441 NW 19th Ter #201 Delray Beach, FL	2.0	2.0	1148	$2,250	$1.96	24d	1	0.06mi
1640 NW 19th Ter #103 Delray Beach, FL	2.0	2.0	1148	$1,950	$1.70	7d	1	0.06mi
1640 NW 19th Ter #103 Delray Beach, FL	2.0	2.0	1148	$1,950	$1.70	22d	1	0.06mi
1440 NW 20th Ave #104 Delray Beach, FL	2.0	2.0	1335	$2,650	$1.99	13d	1	0.09mi
1641 NW 19th Ter Unit 46A Delray Beach, FL	2.0	2.0	1104	$2,000	$1.81	18d	1	0.09mi
1631 NW 18th Ave #201 Delray Beach, FL	2.0	2.0	1148	$3,300	$2.87	24d	1	0.17mi
340 Lake Monterey Cir Boynton Beach, FL	2.0	2.5	1188	$2,350	$1.98	24d	1	0.34mi
169 Monterey Bay Dr Boynton Beach, FL	3.0	2.5	1389	$2,800	$2.02	24d	1	0.36mi
169 Monterey Bay Dr Boynton Beach, FL	3.0	2.5	1389	$2,800	$2.02	14d	1	0.36mi
161 Monterey Bay Dr #161 Boynton Beach, FL	2.0	2.5	1188	$2,300	$1.94	24d	1	0.37mi
161 Monterey Bay Dr #161 Boynton Beach, FL	2.0	2.5	1188	$2,250	$1.89	13d	1	0.37mi
161 Monterey Bay Dr #161 Boynton Beach, FL	2.0	2.5	1188	$2,200	$1.85	3d	1	0.37mi
161 Monterey Bay Dr Boynton Beach, FL	2.0	2.5	1188	$2,300	$1.94	18d	1	0.37mi
161 Monterey Bay Dr Boynton Beach, FL	2.0	2.5	1188	$2,300	$1.94	3d	1	0.37mi
400 Lake Monterey Cir Boynton Beach, FL	2.0	2.5	1144	$2,400	$2.10	10d	1	0.43mi
182 Lake Monterey Cir Boynton Beach, FL	2.0	2.5	1423	$2,500	$1.76	24d	1	0.51mi
182 Lake Monterey Cir Boynton Beach, FL	2.0	2.5	1423	$2,500	$1.76	22d	1	0.51mi
2583 NW 13th St Delray Beach, FL	2.0	2.0	1466	$2,600	$1.77	17d	1	0.52mi
500 N Congress Ave Delray Beach, FL	2.0–3.0	1.0–2.0	989	$2,295	$2.32	1d	6	0.68mi
2915 NW 12th St Unit D Delray Beach, FL	2.0	2.0	1499	$3,200	$2.13	7d	1	0.69mi
2622 NW 7th Ct Delray Beach, FL	2.0	2.5	1384	$2,750	$1.99	24d	1	0.73mi
872 NW 29th Ave Unit A Delray Beach, FL	2.0	2.0	1188	$2,700	$2.27	24d	1	0.76mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	24d	1	0.88mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	17d	1	0.88mi
1720 Depot Ave Delray Beach, FL	2.0	2.0	1199	$2,874	$2.40	13d	1	0.89mi
1720 Depot Ave Delray Beach, FL	2.0	2.0	1189	$2,650	$2.23	24d	1	0.89mi
1335 Lee St Delray Beach, FL	3.0	2.0	1000	$3,200	$3.20	24d	1	0.90mi
1502 NW 4th Ave Delray Beach, FL	3.0	2.0	1468	$6,800	$4.63	16d	1	0.95mi
231 NW 14th Ave Delray Beach, FL	3.0	2.0	1250	$4,950	$3.96	7d	1	1.05mi
227 Coral Trace Ln Unit 227 Delray Beach, FL	2.0	2.0	1376	$3,100	$2.25	24d	1	1.06mi
2480 S Coral Trace Cir Delray Beach, FL	2.0	2.0	1379	$2,900	$2.10	7d	1	1.11mi
210 NW 13th Ave Delray Beach, FL	2.0	1.0	800	$2,200	$2.75	24d	1	1.11mi
351 NW 8th Ave Delray Beach, FL	3.0	2.0	1348	$3,600	$2.67	1d	1	1.12mi
351 NW 8th Ave Delray Beach, FL	3.0	2.0	1348	$3,600	$2.67	10d	1	1.12mi
3996 NW 7th Ct Delray Beach, FL	3.0	2.0	1480	$5,000	$3.38	24d	1	1.17mi

HOA detail condo

• Monthly dues: $599 · $7,188/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $148,000 Active 44 DOM
2. 2026-06-17
   days on market $148,000 Active 43 DOM
3. 2026-06-16
   days on market $148,000 Active 42 DOM
4. 2026-06-15
   days on market $148,000 Active 41 DOM
5. 2026-06-13
   days on market $148,000 Active 39 DOM
6. 2026-06-09
   days on market $148,000 Active 35 DOM
7. 2026-06-08
   days on market $148,000 Active 34 DOM
8. 2026-06-07
   days on market $148,000 Active 33 DOM
9. 2026-06-04
   days on market $148,000 Active 30 DOM
10. 2026-06-03
    days on market $148,000 Active 29 DOM
11. 2026-06-02
    days on market $148,000 Active 28 DOM
12. 2026-06-01
    days on market $148,000 Active 27 DOM
13. 2026-05-31
    days on market $148,000 Active 26 DOM
14. 2026-05-01
    listed $148,000 Active
15. 2011-11-02
    historical
16. 2011-04-27
    listed $68,000
17. 2011-02-25
    soldstatus $35,000 181-char remark

    Show marketing remark (181 chars)

    BANK OWNED FORECLOSURE PRICED TO SELL QUICKLY!!! 2 bed/2 bath UNIT W/ LARGE SCREENED PATIO, HURRICANE SHUTTERS, TILED KITCH, PARQUET FLOORS IN MASTER BDRM, GATED COMM 55 AND OVER 12

18. 2011-02-11
    historical 181-char remark

    Show marketing remark (181 chars)

    BANK OWNED FORECLOSURE PRICED TO SELL QUICKLY!!! 2 bed/2 bath UNIT W/ LARGE SCREENED PATIO, HURRICANE SHUTTERS, TILED KITCH, PARQUET FLOORS IN MASTER BDRM, GATED COMM 55 AND OVER 12

19. 2010-11-20
    listed $44,900 181-char remark

    Show marketing remark (181 chars)

    BANK OWNED FORECLOSURE PRICED TO SELL QUICKLY!!! 2 bed/2 bath UNIT W/ LARGE SCREENED PATIO, HURRICANE SHUTTERS, TILED KITCH, PARQUET FLOORS IN MASTER BDRM, GATED COMM 55 AND OVER 12

20. 2004-05-05
    soldstatus $89,000
21. 2004-04-16
    soldstatus $89,000
22. 2004-03-31
    historical
23. 2004-01-23
    listed $90,900
24. 2003-08-18
    historical
25. 2003-05-20
    listed $75,900
26. 1997-10-20
    soldstatus $42,000

ⓘ 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: $2,695 · $225/mo
• Projected year-2 tax: $2,695 · $225/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 10/10 Extreme 7 d/yr ≥105°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: $29,214
• − Mortgage interest: −$8,290
• − Property taxes: −$2,695
• − Insurance: −$740
• − Repairs & maintenance: −$2,337
• − Management: −$2,337
• − HOA: −$7,188
• − Depreciation: −$4,305
• Taxable income: $1,321
• Est. tax owed @ 24.0%: −$317
• After-tax cash flow: $2,826/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

+252.4% since first listed

13 events — show timeline

• 2026-05-01 Listed $148,000 Beaches MLS
• 2011-11-02 Listing Removed — Beaches MLS
• 2011-04-27 Listed $68,000 Beaches MLS
• 2011-02-25 Sold (MLS) $35,000 Beaches MLS
• 2011-02-11 Listing Removed — Beaches MLS
• 2010-11-20 Listed $44,900 Beaches MLS
• 2004-05-05 Sold (Public Records) $89,000 Public Records
• 2004-04-16 Sold (MLS) $89,000 Beaches MLS
• 2004-03-31 Listing Removed — Beaches MLS
• 2004-01-23 Listed $90,900 Beaches MLS
• 2003-08-18 Listing Removed — Beaches MLS
• 2003-05-20 Listed $75,900 Beaches MLS
• 1997-10-20 Sold (Public Records) $42,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $2,695 · +7.7% YoY. Source: county tax records.