14323 Via Royale #2 · Delray Beach, FL 33446

$329,000

3 bd · 2.0 ba · 1,706 sqft · Condo public records · 20 Days on market

Built 1994 $756/mo HOA · 22% of rent

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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 +12.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Appreciation +5.3/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• DSCR +3.6/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Listing remarks

Rare opportunity to buy a single story Ruby Model in the community of Emerald Pointe where this only 14 of these in the community. This model has 1,706 sq. ft. of living space with vaulted ceilings throughout. The Ruby Garden Villa has 2 bedroom 2 Baths with a den room. You also have a covered patio with a lake view. New kitchen and baths this unit is ready for you to make it your home.

Key facts

• $756 HOA
• 4 parking spots
• Community pool

Property features AI

Finance

• Other: Senior community
• Financial info: Pets allowed (cats and dogs OK; pet restrictions possible)
• HOA & community: Association: Emerald Pointe Condo Association; Quarterly HOA fee; Association amenities include: clubhouse, heated pool, spa/hot tub, sauna, fitness center, tennis courts, pickleball and shuffleboard courts, billiard room, library, community room, jogging paths/sidewalks, street lights, management and on-site manager, gated community, parking, recreation facilities, pool service, internet included; Association fees cover cable TV, insurance, internet, grounds maintenance, security, sewer, roof repairs, reserve funds, and recreation facility

Exterior

• Parking: Total 4 parking spaces; 2 covered spaces in a detached carport; 2 open/assigned asphalt spaces
• Security: Smoke detectors; Entry phone/intercom; Gated community (no guard)
• Utilities: Public water; Public sewer; Electric service with circuit breakers; Cable available
• Home design: Condominium; One story; Resale property; Unit faces north
• Construction: Stucco and CBS construction
• Exterior features: Zero lot line; Waterfront; Concrete and tile roof

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal; Trash compactor; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Electric central heating (individual unit); Central air conditioning with ceiling fans
• Interior features: Cathedral ceilings and vaulted/high ceilings; Walk-in closets; Split bedroom layout
• Laundry & utility: Laundry closet with inside washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $329k.

Deal economics

• At list price, monthly cash flow is $-73 ($-872/yr) — negative.
• To cash-flow at today's rent, offer at most $316k (3.9% below list).
• Meets the 1% rule at list price ($3k rent vs $329k).
• Recommended offer: $316k (3.9% below list) — sets the bar for cash-flow.
• Cap rate 6.0% 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: Hagen Road Elementary School (math 55% / reading 63%, grade B-, #722 of 2,144 statewide, top 34%, 773 students, 46% FRL); Carver Middle School (math 22% / reading 34%, grade F, #486 of 571 statewide, top 86%, 732 students, 73% 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 at 48% FRL track the district average.
• Market conditions: Rents flat; 584 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 $5k of equity ($2k loan paydown + $2k 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.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($324k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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 $144k; list at $329k implies a 128% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% 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 $316,168 (3.9% 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. 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. 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 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: 1.04% ✓
• Cap rate: 6.03%
• Cash-on-cash: -0.95%
• DSCR: 0.96
• GRM: 8.0

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: -2.6%
• Equity multiple: 0.88×
• Total profit: $-11,477
• Equity at exit: $106,986

10-year hold

• IRR: 0.8%
• Equity multiple: 1.09×
• Total profit: $8,596
• Equity at exit: $138,140

Cash invested: $92,120 (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: 584
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $3,416 high
• Mortgage (P&I): −$1,725
• Tax from tax record: −$153 /mo · $1,833/yr
• Insurance: −$137
• HOA: −$756
• Vacancy / Maint / Mgmt: −$717
• Net cashflow: $-73

Break-even live

Break-even rent $3,508

Max offer price $316,168

Occupancy floor 97%

Sensitivity live

Price	-10% $114	-5% $20	+0% $-73	+5% $-166	+10% $-259
Rent	-10% $-342	-5% $-208	+0% $-73	+5% $62	+10% $197
Rate	-1.0pp $93	-0.5pp $11	base $-73	+0.5pp $-158	+1.0pp $-245

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: $82,250
• Closing costs: $9,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14856 Barletta Way Delray Beach, FL	2.0	2.0	1406	$3,200	$2.28	26d	1	0.29mi
14131 Rock Salt Rd Delray Beach, FL	3.0	2.0	1490	$4,800	$3.22	3d	1	0.32mi
14131 Rock Salt Rd Delray Beach, FL	3.0	2.0	1490	$4,800	$3.22	1d	1	0.32mi
8085 Tumblestone Ct Delray Beach, FL	2.0	2.0	1097	$2,679	$2.44	26d	1	0.33mi
8085 Tumblestone Ct Delray Beach, FL	3.0	2.0	1242	$2,998	$2.41	3d	1	0.33mi
8085 Tumblestone Ct Delray Beach, FL	2.0	2.0	1076	$2,668	$2.48	4d	1	0.33mi
7350 Kinghurst Dr Delray Beach, FL	2.0	2.0	1220	$4,500	$3.69	17d	1	0.46mi
7350 Kinghurst Dr #305 Delray Beach, FL	2.0	2.0	1220	$4,500	$3.69	1d	1	0.46mi
7350 Kinghurst Dr #305 Delray Beach, FL	2.0	2.0	1220	$4,500	$3.69	23d	1	0.46mi
7301 Amberly Ln #304 Delray Beach, FL	2.0	2.0	1080	$1,495	$1.38	9d	1	0.46mi
8061 Red Jasper Ln Delray Beach, FL	2.0	2.0	1153	$3,002	$2.60	4d	1	0.47mi
8061 Red Jasper Ln Delray Beach, FL	2.0	2.0	1097	$2,892	$2.64	13d	1	0.47mi
8061 Red Jasper Ln Delray Beach, FL	2.0	2.0	1097	$2,877	$2.62	26d	1	0.47mi
13851 Oneida Dr Unit D2 Delray Beach, FL	3.0	2.0	1557	$2,850	$1.83	5d	1	0.53mi
7904 Mansfield Hollow Rd Delray Beach, FL	3.0	2.0	1865	$3,950	$2.12	26d	1	0.55mi
7310 Ashford Pl Delray Beach, FL	2.0	2.0	1230	$2,700	$2.20	20d	2	0.60mi
7310 Ashford Pl Delray Beach, FL	2.0	2.0	1230	$3,200	$2.60	17d	1	0.60mi
7310 Ashford Pl Delray Beach, FL	2.0	2.0	1230	$3,200	$2.60	9d	1	0.60mi
13811 Oneida Dr Unit H2 Delray Beach, FL	2.0	2.0	1078	$2,100	$1.95	26d	1	0.61mi
7260 Kinghurst Dr #205 Delray Beach, FL	2.0	2.0	1230	$2,800	$2.28	20d	1	0.63mi
15018 Three Ponds Trl Delray Beach, FL	3.0	2.0	1703	$4,150	$2.44	13d	1	0.67mi
15018 Three Ponds Trl Delray Beach, FL	3.0	2.0	1703	$4,150	$2.44	26d	1	0.67mi
7286 Huntington Ln #105 Delray Beach, FL	2.0	2.0	1070	$3,350	$3.13	26d	1	0.73mi
7512 Eagle Point Dr Unit 7512 Delray Beach, FL	3.0	2.0	1463	$4,000	$2.73	20d	1	0.77mi
7512 Eagle Point Dr Delray Beach, FL	3.0	2.0	1461	$4,000	$2.74	1d	1	0.77mi
7512 Eagle Point Dr Delray Beach, FL	3.0	2.0	1463	$4,000	$2.73	5d	1	0.77mi
7657 Lexington Club Blvd Delray Beach, FL	3.0	2.0	1645	$4,500	$2.74	26d	1	0.79mi
14895 Builtmore Way Delray Beach, FL	2.0	2.0	1103	$1,800	$1.63	26d	1	0.80mi
14898 Wedgefield Dr #202 Delray Beach, FL	2.0	2.0	1103	$2,000	$1.81	19d	1	0.80mi
14509 Sloan Ridge Dr Unit 10-104 Luminosa Delray Beach, FL	3.0	2.0	1328	$3,827	$2.88	26d	1	0.81mi
14828 Golden Jax Ln Unit 6-105 Radiance Delray Beach, FL	2.0	2.0	1321	$4,148	$3.14	18d	1	0.81mi
14828 Golden Jax Ln Unit 8103 Delray Beach, FL	2.0	2.0	1321	$3,948	$2.99	0d	1	0.81mi
14828 Golden Jax Ln Unit 8-105 Radiance Delray Beach, FL	2.0	2.0	1321	$3,948	$2.99	16d	1	0.81mi
7192 Huntington Ln #307 Delray Beach, FL	2.0	2.0	1070	$3,500	$3.27	20d	1	0.83mi
13542 Weyburne Dr Delray Beach, FL	3.0	2.0	1727	$3,145	$1.82	23d	1	0.85mi
14800 Cumberland Dr Delray Beach, FL	2.0–3.0	2.0	1324	$3,948	$2.98	0d	4	0.88mi
14534 Highland Center Way Delray Beach, FL	2.0	2.0	1319	$3,400	$2.58	9d	1	0.92mi
7076 Huntington Ln #608 Delray Beach, FL	2.0	2.0	1230	$2,600	$2.11	26d	1	0.94mi
15035 Michelangelo Blvd #103 Delray Beach, FL	2.0	2.0	1079	$2,000	$1.85	26d	1	0.96mi
15055 Michelangelo Blvd #208 Delray Beach, FL	3.0	2.0	1238	$2,500	$2.02	1d	1	0.96mi

HOA detail condo

• Monthly dues: $756 · $9,072/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-05-06
   listed $329,000 Active
2. 2007-11-26
   historical
3. 2007-05-04
   listed $254,900
4. 1994-06-20
   soldstatus $144,500

ⓘ 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: $1,833 · $153/mo
• Projected year-2 tax: $2,731 · $228/mo
• Expected delta: +$898/yr (+$75/mo · 49.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,990
• − Mortgage interest: −$18,429
• − Property taxes: −$1,833
• − Insurance: −$1,645
• − Repairs & maintenance: −$3,279
• − Management: −$3,279
• − HOA: −$9,072
• − Depreciation: −$9,571
• Taxable loss: −$6,118
• Est. tax savings @ 24.0%: +$1,468
• After-tax cash flow: $597/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

+127.7% since first listed

4 events — show timeline

• 2026-05-06 Listed $329,000 Beaches MLS
• 2007-11-26 Listing Removed — Beaches MLS
• 2007-05-04 Listed $254,900 Beaches MLS
• 1994-06-20 Sold (Public Records) $144,500 Public Records

Property tax history

-1.6%/yr

Latest (2025): $1,833 · +3.7% YoY. Source: county tax records.