14895 Builtmore Way #107 · Delray Beach, FL 33446

$149,900

2 bd · 2.0 ba · 1,040 sqft · Condo public records · 147 Days on market

Built 1987 $718/mo HOA · 29% of rent

---

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 +24.8/30.0
• 1% rule +10.0/10.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to the International Club at Villages of Oriole! This desirable 55+ first-floor condo features 2 bedrooms, 2 bathrooms, and valuable upgrades throughout. The kitchen was beautifully remodeled 3 years ago, boasting sleek quartz countertops, new appliances, bar seating, and an enlarged pantry. Enjoy peace of mind with hurricane windows installed approximately 10 years ago. The functional layout includes a combined living and dining area leading to an enclosed patio with roll-up shutters for year-round relaxation, while the primary bedroom offers a spacious walk-in closet for ample storage. Beyond the unit, the lifestyle here is exceptional. You will have access to a pool exclusively f

Key facts

• Hurricane windows
• First-floor condo
• Walk-in closet

Tags

• FIRST-FLOOR CONDO
• REMODELED KITCHEN
• HURRICANE WINDOWS
• ENCLOSED PATIO
• WALK-IN CLOSET
• NEAR AMENITIES

Property features AI

Finance

• HOA & community: Association with monthly fee; HOA amenities include pool, spa/hot tub, fitness center, clubhouse, game room, billiard room, library, jogging path, trails, tennis courts, pickleball court, basketball and shuffleboard courts, elevator access, sauna, parking, and more; HOA fee billed monthly; HOA covers cable TV, insurance, grounds maintenance, pest control, sewer, trash, water, and common area maintenance; Pets allowed with size limits; Community of 104 units; Senior community

Exterior

• Parking: Assigned parking; Guest parking available
• Security: Fire alarm; Smoke detectors; Security lights; Security patrol
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Multi-level/split layout; Entry-level living area; Faces west; Resale property
• Construction: CBS construction; Composition and rolled/hot mop roofing; Built as part of a multi-story building (2 total stories)
• Exterior features: Covered patio; Screened patio; Open porch; Patio and porch space; Outbuilding on property; Corner lot with sidewalks; Paved road frontage; Not waterfront

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Garbage disposal; Refrigerator; Electric water heater
• Bedrooms: Two bedrooms on the main level
• Bathrooms: Two full bathrooms, both on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans; Humidity control
• Interior features: Built-in features throughout; Entrance foyer; Walk-in closets; Split bedroom layout; Closet cabinetry; Blinds on windows
• Laundry & utility: Inside laundry closet with washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $319 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.

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: Hagen Road Elementary School (math 55% / reading 63%, grade B-, #722 of 2,144 statewide, top 34%, 773 students, 46% FRL); Spanish River Community High School (math 64% / reading 74%, grade B, #63 of 667 statewide, top 10%, 2,578 students, 25% FRL) — zoned schools average 35% FRL vs 52% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 64% at this address vs 50% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Palm Beach average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 577 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $1k appreciation (0.7% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.7% appreciation + 0.5% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 25y ago; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $101k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 1.67% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.12%
• DSCR: 1.41
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.69% appreciation · 0.51% rent growth · sell at horizon

5-year hold

• IRR: 7.4%
• Equity multiple: 1.36×
• Total profit: $15,138
• Equity at exit: $48,745

10-year hold

• IRR: 9.5%
• Equity multiple: 2.01×
• Total profit: $42,532
• Equity at exit: $62,940

Cash invested: $41,972 (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 33446

• Home prices YoY: 0.3%
• Rents YoY: 0.5%
• Active inventory: 577
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,504 high
• Mortgage (P&I): −$786
• Tax from tax record: −$93 /mo · $1,112/yr
• Insurance: −$62
• HOA: −$718
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $319

Break-even live

Break-even rent $2,100

Max offer price $149,900

Occupancy floor 82%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14895 Builtmore Way Delray Beach, FL	2.0	2.0	1103	$1,800	$1.63	24d	1	0.02mi
14898 Wedgefield Dr #202 Delray Beach, FL	2.0	2.0	1103	$2,000	$1.81	17d	1	0.02mi
14896 Bal Moral Ln Delray Beach, FL	2.0	2.0	1040	$2,200	$2.12	24d	1	0.09mi
14723 Cumberland Dr Unit 404 B Delray Beach, FL	1.0	2.0	912	$1,850	$2.03	24d	1	0.17mi
15035 Michelangelo Blvd #103 Delray Beach, FL	2.0	2.0	1079	$2,000	$1.85	24d	1	0.22mi
14747 Cumberland Dr #301 Delray Beach, FL	2.0	2.0	1044	$1,900	$1.82	24d	1	0.22mi
15015 Michelangelo Blvd #102 Delray Beach, FL	3.0	2.0	1238	$2,499	$2.02	24d	1	0.23mi
15015 Michelangelo Blvd #102 Delray Beach, FL	3.0	2.0	1238	$2,499	$2.02	3d	1	0.23mi
7260 Kinghurst Dr #205 Delray Beach, FL	2.0	2.0	1230	$2,800	$2.28	19d	1	0.23mi
15055 Michelangelo Blvd Delray Beach, FL	2.0–3.0	2.0	1158	$2,125	$1.83	22d	2	0.25mi
15065 Michelangelo Blvd #105 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	22d	1	0.25mi
15065 Michelangelo Blvd #105 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	2d	1	0.25mi
7515 S Oriole Blvd Delray Beach, FL	2.0	2.0	850	$1,700	$2.00	24d	1	0.25mi
15005 Michelangelo Blvd Delray Beach, FL	2.0–3.0	2.0	1234	$2,050	$1.66	2d	22	0.28mi
14 Willowbrook Ln #101 Delray Beach, FL	2.0	2.0	1005	$1,700	$1.69	5d	1	0.28mi
15085 Michelangelo Blvd #202 Delray Beach, FL	3.0	2.0	1238	$2,700	$2.18	22d	1	0.31mi
14800 Cumberland Dr Delray Beach, FL	2.0	2.0	1321	$4,048	$3.06	5d	4	0.32mi
7350 Kinghurst Dr #305 Delray Beach, FL	2.0	2.0	1220	$4,500	$3.69	22d	1	0.33mi
7350 Kinghurst Dr Delray Beach, FL	2.0	2.0	1220	$4,500	$3.69	15d	1	0.33mi
10 Willowbrook Ln #105 Delray Beach, FL	2.0	2.0	1005	$2,100	$2.09	11d	1	0.33mi
14828 Golden Jax Ln Unit 6-105 Radiance Delray Beach, FL	2.0	2.0	1321	$4,148	$3.14	17d	1	0.36mi
14828 Golden Jax Ln Unit 8-105 Radiance Delray Beach, FL	2.0	2.0	1321	$3,948	$2.99	15d	1	0.36mi
14828 Golden Jax Ln Unit 8103 Delray Beach, FL	2.0	2.0	1321	$3,949	$2.99	5d	1	0.36mi
14509 Sloan Ridge Dr Unit 10-104 Luminosa Delray Beach, FL	3.0	2.0	1328	$3,827	$2.88	24d	1	0.36mi
15155 Michelangelo Blvd Delray Beach, FL	2.0	2.0	1079	$2,288	$2.12	8d	2	0.36mi
15155 Michelangelo Blvd #106 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	20d	1	0.36mi
15155 Michelangelo Blvd #106 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	24d	1	0.36mi
20 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,600	$2.81	24d	1	0.38mi
7310 Ashford Pl Delray Beach, FL	2.0	2.0	1230	$3,200	$2.60	15d	1	0.39mi
7310 Ashford Pl Delray Beach, FL	2.0	2.0	1230	$3,200	$2.60	8d	1	0.39mi
7310 Ashford Pl Delray Beach, FL	2.0	2.0	1230	$2,700	$2.20	19d	2	0.39mi
15145 Michelangelo Blvd #102 Delray Beach, FL	3.0	2.0	1238	$2,600	$2.10	24d	1	0.40mi
15145 Michelangelo Blvd #102 Delray Beach, FL	3.0	2.0	1238	$2,600	$2.10	3d	1	0.40mi
7512 Eagle Point Dr Unit 7512 Delray Beach, FL	3.0	2.0	1463	$4,000	$2.73	19d	1	0.40mi
7512 Eagle Point Dr Delray Beach, FL	3.0	2.0	1463	$4,000	$2.73	4d	1	0.40mi
19 Abbey Ln #206 Delray Beach, FL	2.0	2.0	925	$1,750	$1.89	24d	1	0.40mi
7607 Atlantic Ave Delray Beach, FL	1.0–2.0	1.0–2.0	1086	$3,494	$3.22	2d	6	0.41mi
21 Abbey Ln #107 Delray Beach, FL	2.0	2.0	925	$1,800	$1.95	15d	1	0.41mi
6813 Moonlit Dr Delray Beach, FL	2.0	2.0	1148	$2,150	$1.87	24d	1	0.41mi
23 Abbey Ln #208 Delray Beach, FL	2.0	2.0	925	$1,500	$1.62	3d	1	0.43mi

HOA detail condo

• Monthly dues: $718 · $8,616/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-18
   days on market $149,900 Active 147 DOM
2. 2026-06-17
   days on market $149,900 Active 146 DOM
3. 2026-06-16
   days on market $149,900 Active 145 DOM
4. 2026-06-15
   days on market $149,900 Active 144 DOM
5. 2026-06-13
   days on market $149,900 Active 142 DOM
6. 2026-06-09
   days on market $149,900 Active 138 DOM
7. 2026-06-07
   days on market $149,900 Active 136 DOM
8. 2026-06-04
   days on market $149,900 Active 133 DOM
9. 2026-06-03
   days on market $149,900 Active 132 DOM
10. 2026-06-01
    days on market $149,900 Active 130 DOM
11. 2026-05-31
    days on market $149,900 Active 129 DOM
12. 2026-05-01
    price $149,900
13. 2026-04-03
    price $159,900
14. 2026-03-07
    price $173,000
15. 2026-01-22
    listed $175,000 Active
16. 2026-01-03
    historical
17. 2025-10-02
    listed $199,999 Active
18. 2025-09-29
    historical
19. 2025-07-05
    status Active
20. 2025-06-29
    historical
21. 2025-06-01
    status Active
22. 2025-05-29
    historical
23. 2025-03-30
    listed $212,000 Active
24. 2025-03-30
    historical
25. 2018-10-18
    soldstatus $101,000
26. 2018-10-12
    soldstatus $101,000 Closed
27. 2018-08-14
    historical Active Under Contract
28. 2018-08-03
    listed $99,000 Active
29. 2002-03-08
    soldstatus $55,000
30. 2002-02-26
    soldstatus $55,000
31. 2002-01-29
    historical
32. 2001-10-08
    listed $59,900

ⓘ 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: $1,112 · $93/mo
• Projected year-2 tax: $1,244 · $104/mo
• Expected delta: +$132/yr (+$11/mo · 11.9%)

ⓘ 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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,049
• − Mortgage interest: −$8,397
• − Property taxes: −$1,112
• − Insurance: −$750
• − Repairs & maintenance: −$2,404
• − Management: −$2,404
• − HOA: −$8,616
• − Depreciation: −$4,361
• Taxable income: $2,006
• Est. tax owed @ 24.0%: −$482
• After-tax cash flow: $3,347/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): 28,431
• Household income: $80,187
• Rent vs Own: 11.4% rent · 88.6% own
• Severe rent burden: 494.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 13% Two or more races 9% Black 4%
• Hispanic origin (detail): Puerto Rican 3% Dominican 1%
• Common ancestry: Romanian 9% Scotch-Irish 9% Italian 2%
• Foreign-born: 20% · Canada, Jamaica, Guatemala
• Languages at home: 80% English-only · Spanish 12% Other Indo-European 2% French/Haitian/Cajun 2%

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: ▲ 0.69%
• Current HPI: 242.5138
• Rent YoY: ▲ 0.51%
• 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

+150.3% since first listed

21 events — show timeline

• 2026-05-01 Price Changed $149,900 Beaches MLS
• 2026-04-03 Price Changed $159,900 Beaches MLS
• 2026-03-07 Price Changed $173,000 Beaches MLS
• 2026-01-22 Listed $175,000 Beaches MLS
• 2026-01-03 Listing Removed — Beaches MLS
• 2025-10-02 Listed $199,999 Beaches MLS
• 2025-09-29 Listing Removed — Beaches MLS
• 2025-07-05 Relisted — Beaches MLS
• 2025-06-29 Listing Removed — Beaches MLS
• 2025-06-01 Relisted — Beaches MLS
• 2025-05-29 Listing Removed — Beaches MLS
• 2025-03-30 Listed $212,000 Beaches MLS
• 2025-03-30 Coming Soon — Beaches MLS
• 2018-10-18 Sold (Public Records) $101,000 Public Records
• 2018-10-12 Sold (MLS) $101,000 Beaches MLS
• 2018-08-14 Contingent — Beaches MLS
• 2018-08-03 Listed $99,000 Beaches MLS
• 2002-03-08 Sold (Public Records) $55,000 Public Records
• 2002-02-26 Sold (MLS) $55,000 Beaches MLS
• 2002-01-29 Listing Removed — Beaches MLS
• 2001-10-08 Listed $59,900 Beaches MLS

Property tax history

+1.3%/yr

Latest (2025): $1,112 · +4.1% YoY. Source: county tax records.