31 Abbey Ln #101 · Delray Beach, FL 33446

$118,999

2 bd · 2.0 ba · 925 sqft · Condo public records · 113 Days on market

Built 1979 $613/mo HOA · 29% 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 +22.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 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 this bright and inviting first-floor corner unit in Delray Beach! Offering 2 bedrooms and 2 baths, this beautifully maintained condo is filled with abundant natural light and relaxed coastal charm. The spacious primary suite features new laminate flooring and an updated bath. The second bedroom and its tastefully updated bath feature a hallway door that, when closed, provides guests with their own private suite. Tile & laminate flooring run throughout the condo with no popcorn ceilings, adding to the clean, modern feel. Enjoy peaceful garden views from the enclosed lanai, the perfect spot to unwind on warm Florida evenings. This well-maintained community offers fantastic am

Key facts

• Updated bath
• Garden views
• Private suite

Tags

• FIRST FLOOR CORNER UNIT
• NEW LAMINATE FLOORING
• UPDATED BATH
• PRIVATE SUITE
• NO POPCORN CEILINGS
• GARDEN VIEWS

Property features AI

Finance

• Other: Senior community
• Financial info: Pets not allowed; Association fee paid monthly
• HOA & community: HOA with monthly fee; Community amenities include pool, clubhouse, fitness center, sauna, billiard room, jogging path, storage, sidewalks, and internet included; HOA covers cable TV, insurance, internet, grounds maintenance, trash, water, common areas and recreation facilities

Exterior

• Parking: Assigned parking; Guest parking
• Utilities: Three-phase electric; Cable available; Municipal water available
• Home design: Condominium; Resale property; South-facing; 2-story building; Living area approximately 925
• Construction: Built with concrete block (CBS)
• Exterior features: Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: Walk-in closets; Split bedroom layout; Blinds on windows

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $108k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 flat; 583 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 31% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($822 loan paydown + $817 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 $33k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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 $70k; list at $119k implies a 70% gain — meaningful room to come down on a strong offer.

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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,289 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
10. 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.
11. 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: 1.77% ✓
• Cap rate: 8.30%
• Cash-on-cash: 7.18%
• DSCR: 1.32
• GRM: 4.7

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: 5.2%
• Equity multiple: 1.25×
• Total profit: $8,392
• Equity at exit: $38,697

10-year hold

• IRR: 7.2%
• Equity multiple: 1.76×
• Total profit: $25,450
• Equity at exit: $49,965

Cash invested: $33,320 (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: 583
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,104 high
• Mortgage (P&I): −$624
• Tax from tax record: −$176 /mo · $2,113/yr
• Insurance: −$50
• HOA: −$613
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $199

Break-even live

Break-even rent $1,852

Max offer price $118,999

Occupancy floor 86%

Sensitivity live

Price	-10% $267	-5% $233	+0% $199	+5% $166	+10% $132
Rent	-10% $33	-5% $116	+0% $199	+5% $282	+10% $366
Rate	-1.0pp $259	-0.5pp $230	base $199	+0.5pp $169	+1.0pp $137

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32 Abbey Ln #207 Delray Beach, FL	2.0	2.0	925	$2,500	$2.70	25d	1	0.00mi
31 Abbey Ln #207 Delray Beach, FL	2.0	2.0	925	$1,300	$1.41	25d	1	0.03mi
23 Abbey Ln #208 Delray Beach, FL	2.0	2.0	925	$1,500	$1.62	4d	1	0.10mi
14671 Bonaire Blvd #505 Delray Beach, FL	1.0	2.0	925	$1,600	$1.73	25d	1	0.11mi
21 Abbey Ln #107 Delray Beach, FL	2.0	2.0	925	$1,800	$1.95	16d	1	0.11mi
19 Abbey Ln #206 Delray Beach, FL	2.0	2.0	925	$1,750	$1.89	25d	1	0.12mi
3 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,500	$2.70	25d	1	0.13mi
20 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,600	$2.81	25d	1	0.14mi
14735 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,350	$2.19	3d	1	0.18mi
10 Willowbrook Ln #105 Delray Beach, FL	2.0	2.0	1005	$2,100	$2.09	12d	1	0.23mi
14 Willowbrook Ln #101 Delray Beach, FL	2.0	2.0	1005	$1,700	$1.69	6d	1	0.23mi
14832 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,500	$2.33	18d	1	0.26mi
14747 Cumberland Dr #301 Delray Beach, FL	2.0	2.0	1044	$1,900	$1.82	25d	1	0.32mi
14723 Cumberland Dr Unit 404 B Delray Beach, FL	1.0	2.0	912	$1,850	$2.03	25d	1	0.35mi
189 Seville Ter Unit 189 Delray Beach, FL	2.0	2.0	880	$1,900	$2.16	25d	1	0.35mi
28 Seville B Delray Beach, FL	2.0	2.0	883	$1,950	$2.21	12d	1	0.38mi
7192 Huntington Ln #307 Delray Beach, FL	2.0	2.0	1070	$3,500	$3.27	19d	1	0.41mi
6795 Huntington Ln #406 Delray Beach, FL	2.0	2.0	990	$2,500	$2.53	22d	1	0.44mi
14896 Bal Moral Ln Delray Beach, FL	2.0	2.0	1040	$2,200	$2.12	25d	1	0.46mi
14307 Bedford Dr #302 Delray Beach, FL	2.0	2.0	990	$2,200	$2.22	25d	1	0.46mi
7286 Huntington Ln #105 Delray Beach, FL	2.0	2.0	1070	$3,350	$3.13	25d	1	0.48mi
14898 Wedgefield Dr #202 Delray Beach, FL	2.0	2.0	1103	$2,000	$1.81	18d	1	0.52mi
14895 Builtmore Way Delray Beach, FL	2.0	2.0	1103	$1,800	$1.63	25d	1	0.52mi
92 Seville Blvd Delray Beach, FL	2.0	2.0	880	$1,895	$2.15	25d	1	0.57mi
43 Waterford B Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	25d	1	0.58mi
213 Waterford I Delray Beach, FL	2.0	2.0	880	$1,600	$1.82	25d	1	0.59mi
15035 Michelangelo Blvd #103 Delray Beach, FL	2.0	2.0	1079	$2,000	$1.85	25d	1	0.59mi
15035 Michelangelo Blvd #202 Delray Beach, FL	1.0	1.0	700	$1,895	$2.71	0d	1	0.59mi
15155 Michelangelo Blvd Delray Beach, FL	2.0	2.0	1079	$2,288	$2.12	9d	2	0.61mi
15155 Michelangelo Blvd Delray Beach, FL	2.0	2.0	1079	$2,288	$2.12	0d	2	0.61mi
126 Seville E Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	20d	1	0.61mi
15065 Michelangelo Blvd #105 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	3d	1	0.61mi
15065 Michelangelo Blvd #105 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	23d	1	0.61mi
15155 Michelangelo Blvd #106 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	25d	1	0.62mi
15155 Michelangelo Blvd #106 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	21d	1	0.62mi
15055 Michelangelo Blvd Delray Beach, FL	2.0–3.0	2.0	1158	$2,125	$1.83	23d	2	0.64mi
154 Seville G Delray Beach, FL	1.0	1.0	720	$1,490	$2.07	16d	1	0.64mi
163 Tuscany C Unit C Delray Beach, FL	1.0	1.5	720	$1,300	$1.81	16d	1	0.66mi
102 Waterford D Unit 102 Delray Beach, FL	1.0	1.5	720	$1,900	$2.64	25d	1	0.66mi
7301 Amberly Ln #304 Delray Beach, FL	2.0	2.0	1080	$1,495	$1.38	9d	1	0.68mi

HOA detail condo

• Monthly dues: $613 · $7,356/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-09
   days on market $118,999 Active 113 DOM
2. 2026-06-07
   days on market $118,999 Active 111 DOM
3. 2026-06-04
   days on market $118,999 Active 108 DOM
4. 2026-06-03
   days on market $118,999 Active 107 DOM
5. 2026-06-01
   days on market $118,999 Active 105 DOM
6. 2026-05-31
   days on market $118,999 Active 104 DOM
7. 2026-02-16
   listed $118,999 Active
8. 2025-05-24
   historical
9. 2025-05-17
   listed $135,000 Active
10. 2025-03-11
    historical
11. 2024-10-21
    listed $149,500 Active
12. 2024-05-09
    historical
13. 2024-02-03
    price $165,000
14. 2024-01-15
    price $175,000
15. 2024-01-10
    listed $185,000 Active
16. 2017-02-16
    soldstatus $70,000
17. 2017-02-13
    soldstatus $70,000 Closed
18. 2016-09-26
    status Pending
19. 2016-08-26
    price $74,900
20. 2016-08-08
    price $79,900
21. 2016-06-17
    listed $84,900 Active
22. 2000-09-05
    soldstatus $41,000

ⓘ 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: $2,113 · $176/mo
• Projected year-2 tax: $2,113 · $176/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 2/10 Low
• 🌡 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: $25,247
• − Mortgage interest: −$6,666
• − Property taxes: −$2,113
• − Insurance: −$595
• − Repairs & maintenance: −$2,020
• − Management: −$2,020
• − HOA: −$7,356
• − Depreciation: −$3,462
• Taxable income: $1,015
• Est. tax owed @ 24.0%: −$244
• After-tax cash flow: $2,148/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

+190.2% since first listed

16 events — show timeline

• 2026-02-16 Listed $118,999 Beaches MLS
• 2025-05-24 Listing Removed — Beaches MLS
• 2025-05-17 Listed $135,000 Beaches MLS
• 2025-03-11 Listing Removed — MARMLS
• 2024-10-21 Listed $149,500 MARMLS
• 2024-05-09 Listing Removed — Beaches MLS
• 2024-02-03 Price Changed $165,000 Beaches MLS
• 2024-01-15 Price Changed $175,000 Beaches MLS
• 2024-01-10 Listed $185,000 Beaches MLS
• 2017-02-16 Sold (Public Records) $70,000 Public Records
• 2017-02-13 Sold (MLS) $70,000 Beaches MLS
• 2016-09-26 Pending — Beaches MLS
• 2016-08-26 Price Changed $74,900 Beaches MLS
• 2016-08-08 Price Changed $79,900 Beaches MLS
• 2016-06-17 Listed $84,900 Beaches MLS
• 2000-09-05 Sold (Public Records) $41,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $2,113 · +0.7% YoY. Source: county tax records.