14567 Sunset Dr · Delray Beach, FL 33445

$192,500

3 bd · 2.0 ba · 1,176 sqft · Land public records · 449 Days on market

Built 2006 4,545 sqft lot $185/mo HOA · 7% 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 +29.4/30.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• 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

Brand New Roof! Charming 2-Bed, 2-Bath Doublewide in Sought-After Highland Park! Discover this beautifully maintained 2006 doublewide home in Highland Park, offering 2 spacious bedrooms and 2 full baths. Protect your vehicle from the Florida sun with an extra-long carport, partially covered and large enough to accommodate multiple cars—a rare find! Inside, enjoy an updated kitchen and laundry room, perfect for modern living. The new A/C installed in 2018 ensures year-round comfort. What truly sets Highland Park apart is ownership of the land—no lot fees—and a low HOA. Enjoy access to top-notch amenities, including a clubhouse, pool, and shuffleboard courts, fostering an ac

Key facts

• Clubhouse
• Updated kitchen
• Pool

Tags

• EXTRA-LONG CARPORT
• UPDATED KITCHEN
• OWNERSHIP OF THE LAND
• LOW HOA
• CLUBHOUSE
• POOL

Property features AI

Finance

• HOA & community: Association with monthly fee of $185; Association covers grounds maintenance, water, and pool service; Community amenities: clubhouse, picnic area, pool, shuffleboard court, bike storage, street lights; Senior community; Pets allowed with breed restrictions

Exterior

• Parking: 4 parking spaces total; Attached carport (1 covered space)
• Utilities: Public water; Public sewer; Electricity connected (three phase)
• Home design: Manufactured home; Single-story; Entry level living area; Faces east; Resale condition
• Construction: Vinyl siding; Modular construction; Shingle roof; Slab foundation; Built in public records
• Exterior features: Open patio; Open porch; Deck; Patio; Porch; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; Walk-in closet(s); Split bedroom layout; Partially furnished; Single-hung metal windows
• Laundry & utility: Laundry closet inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $192k.

Deal economics

• At list price, monthly cash flow is $682 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $192k).
• Recommended offer: $169k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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 (+1.8%/yr); 354 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); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 43% 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 $6k 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 + 1.8% rent growth), your $54k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 449 days — a 12% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $192k implies a 381% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $169,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 449 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.45% ✓
• Cap rate: 10.55%
• Cash-on-cash: 15.19%
• DSCR: 1.68
• GRM: 5.7

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: 4.5%
• Equity multiple: 1.17×
• Total profit: $9,158
• Equity at exit: $28,702

10-year hold

• IRR: 12.8%
• Equity multiple: 1.96×
• Total profit: $51,526
• Equity at exit: $16,644

Cash invested: $53,900 (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: 5.7×

Monthly cashflow live

• Estimated rent: $2,800 high
• Mortgage (P&I): −$1,009
• Tax from tax record: −$255 /mo · $3,064/yr
• Insurance: −$80
• HOA: −$185
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $682

Break-even live

Break-even rent $1,937

Max offer price $192,500

Occupancy floor 71%

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: $48,125
• Closing costs: $5,775
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 Via D Este Delray Beach, FL	1.0–3.0	1.0–2.0	1156	$4,129	$3.57	2d	13	0.40mi
14401 S Military Trl Delray Beach, FL	2.0–3.0	1.0–2.0	1094	$3,051	$2.79	2d	8	0.48mi
1252 Club Dr W Unit D Delray Beach, FL	2.0	2.0	1137	$2,100	$1.85	5d	1	0.49mi
1252 Club Dr W Unit D Delray Beach, FL	2.0	2.0	1137	$2,100	$1.85	24d	1	0.49mi
4510 NW 2nd St Unit A Delray Beach, FL	2.0	2.0	1080	$1,800	$1.67	24d	1	0.51mi
5030 Lakefront Blvd Unit D Delray Beach, FL	2.0	2.0	1287	$1,700	$1.32	24d	1	0.53mi
5126 Lakefront Blvd Unit D Delray Beach, FL	2.0	2.0	1186	$2,500	$2.11	21d	1	0.59mi
215 NW 40th Ave Delray Beach, FL	3.0	2.0	1240	$3,350	$2.70	24d	1	0.60mi
1152 Circle Dr Unit D Delray Beach, FL	2.0	2.0	1200	$2,000	$1.67	24d	1	0.62mi
1152 Circle Dr Unit D Delray Beach, FL	2.0	2.0	1200	$2,000	$1.67	12d	1	0.62mi
1155 South Drive Cir Unit A Delray Beach, FL	2.0	2.0	1080	$2,195	$2.03	24d	1	0.62mi
4310 Village Dr Unit D Delray Beach, FL	3.0	3.0	1326	$2,600	$1.96	24d	1	0.62mi
4477 NW 3rd Dr Delray Beach, FL	2.0	1.5	1109	$2,550	$2.30	24d	1	0.64mi
5385 Lakefront Blvd Unit A Delray Beach, FL	2.0	2.0	1186	$2,200	$1.85	24d	1	0.66mi
5169 Lakefront Blvd Unit D Delray Beach, FL	2.0	2.0	1186	$2,300	$1.94	24d	1	0.68mi
3935 Village Dr Delray Beach, FL	3.0	3.0	1326	$2,700	$2.04	5d	1	0.74mi
3935 Village Dr Unit A Delray Beach, FL	3.0	3.0	1326	$2,700	$2.04	8d	1	0.74mi
354 SW 28th Ave Delray Beach, FL	2.0	2.0	1369	$5,450	$3.98	24d	1	0.75mi
305 SW 28th Ave Delray Beach, FL	2.0	2.0	1369	$4,300	$3.14	14d	1	0.76mi
14716 Canalview Dr Unit D Delray Beach, FL	2.0	2.0	1186	$3,500	$2.95	13d	1	0.86mi
775 North Dr Unit A Delray Beach, FL	2.0	2.0	1175	$2,000	$1.70	11d	1	0.93mi
5061 Nesting Way Unit D Delray Beach, FL	2.0	2.0	1255	$2,400	$1.91	24d	1	0.96mi
14139 Nesting Way Unit A Delray Beach, FL	2.0	2.0	1255	$2,200	$1.75	12d	1	1.01mi
3996 NW 7th Ct Delray Beach, FL	3.0	2.0	1480	$5,000	$3.38	24d	1	1.01mi
829 Camino Rd Unit 206C Delray Beach, FL	2.0	2.0	1023	$2,400	$2.35	24d	1	1.02mi
829 Camino Rd Delray Beach, FL	2.0	2.0	1023	$2,262	$2.21	24d	2	1.02mi
2828 Casita Way #1020 Delray Beach, FL	2.0	2.0	1023	$2,000	$1.96	21d	1	1.06mi
5093 Privet Pl Unit A-1 Delray Beach, FL	2.0	2.0	1220	$2,350	$1.93	24d	1	1.07mi
2828 Casita Way #214 Delray Beach, FL	2.0	2.0	1023	$2,300	$2.25	15d	1	1.07mi
2828 Casita Way Delray Beach, FL	2.0	2.0	1023	$2,248	$2.20	24d	2	1.07mi
2900 Fiore Way #2110 Delray Beach, FL	2.0	2.0	1023	$2,385	$2.33	4d	1	1.09mi
5200 Privet Pl Unit C Delray Beach, FL	2.0	2.0	1457	$1,850	$1.27	24d	1	1.09mi
15548 Bottlebrush Cir Delray Beach, FL	2.0	2.0	1169	$2,200	$1.88	24d	1	1.11mi
5085 Bottlebrush St Delray Beach, FL	2.0	2.0	1165	$2,300	$1.97	22d	1	1.11mi
5550 Nepsa Way Delray Beach, FL	1.0–3.0	1.0–2.0	1035	$3,389	$3.27	1d	12	1.12mi
14606 Lucy Dr Delray Beach, FL	2.0	2.0	1200	$1,850	$1.54	24d	1	1.15mi
2480 S Coral Trace Cir Delray Beach, FL	2.0	2.0	1379	$2,900	$2.10	8d	1	1.15mi
14696 Lucy Dr #14696 Delray Beach, FL	2.0	2.0	1200	$2,200	$1.83	8d	1	1.15mi
2700 Fiore Way #2020 Delray Beach, FL	2.0	2.0	1023	$2,500	$2.44	5d	1	1.15mi
13487 Barwick Rd Unit B Delray Beach, FL	2.0	1.5	1092	$3,900	$3.57	24d	1	1.16mi

HOA detail

• Monthly dues: $185 · $2,220/yr
• Likely covers: pool

Listing history 15 events

1. 2026-06-18
   days on market $192,500 Active 449 DOM
2. 2026-06-17
   days on market $192,500 Active 448 DOM
3. 2026-06-16
   days on market $192,500 Active 447 DOM
4. 2026-06-15
   days on market $192,500 Active 446 DOM
5. 2026-06-13
   days on market $192,500 Active 444 DOM
6. 2026-06-09
   days on market $192,500 Active 440 DOM
7. 2026-06-07
   days on market $192,500 Active 438 DOM
8. 2026-06-04
   days on market $192,500 Active 435 DOM
9. 2026-06-03
   days on market $192,500 Active 434 DOM
10. 2026-06-01
    days on market $192,500 Active 432 DOM
11. 2026-05-31
    days on market $192,500 Active 431 DOM
12. 2026-04-21
    price $192,500
13. 2026-01-13
    price $195,000
14. 2025-03-26
    listed $197,000 Active
15. 1991-04-05
    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: $3,064 · $255/mo
• Projected year-2 tax: $3,064 · $255/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 ≥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: $33,603
• − Mortgage interest: −$10,783
• − Property taxes: −$3,064
• − Insurance: −$962
• − Repairs & maintenance: −$2,688
• − Management: −$2,688
• − HOA: −$2,220
• − Depreciation: −$5,600
• Taxable income: $5,597
• Est. tax owed @ 24.0%: −$1,343
• After-tax cash flow: $6,842/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

+381.2% since first listed

4 events — show timeline

• 2026-04-21 Price Changed $192,500 Beaches MLS
• 2026-01-13 Price Changed $195,000 Beaches MLS
• 2025-03-26 Listed $197,000 Beaches MLS
• 1991-04-05 Sold (Public Records) $40,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $3,064 · +16.3% YoY. Source: county tax records.