912 South Dr Unit A · Delray Beach, FL 33445

$165,000

2 bd · 2.0 ba · 1,295 sqft · Condo public records · 20 Days on market

Built 1973 $578/mo HOA · 22% 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 +23.5/30.0
• 1% rule +10.0/10.0
• DSCR +7.6/10.0
• 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 MLS

TILED THROUGHOUT ENTIRE APT, FULLY ENCLOSED PORCH, RECENTLY PAINTED INSIDE, NEWER ROOF, CORNER UNIT, MOVE IN CONDITION, FURNITURE AVAIALBEL, VACANT ON SUPRA.

Key facts

• Florida room
• Sunny kitchen
• Open air patio

Tags

• SUNNY KITCHEN
• IMPACT WINDOWS
• OPEN AIR PATIO
• FLORIDA ROOM
• PULL DOWN ATTIC STORAGE
• EXTERIOR AWNINGS

Property features AI

Finance

• Other: Senior community
• Financial info: Not a land-lease community; Community of 248 units; Pets not allowed
• HOA & community: Condo association with on-site manager; Monthly HOA fee (paid monthly); Association amenities include: pool, clubhouse, community room, billiard and game rooms, laundry facilities, bocce and shuffleboard courts, picnic area, kitchen facilities, parking, street lights, maintenance, internet included

Exterior

• Parking: Assigned parking; Guest parking (total 2 spaces)
• Utilities: Public water; Public sewer; Cable available; Water, sewer and trash available
• Home design: Condominium; One-story; Resale; Faces east; Building identified as 912
• Construction: Stucco/CBS construction; Shingle roof
• Exterior features: Open patio; Open porch

Interior

• Kitchen: Disposal; Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Walk-in closets; Custom mirrors; Pull-down attic stairs; Blinds; Storm windows
• Laundry & utility: Laundry room (other/unspecified)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $165k).
• Recommended offer: $163k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% 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.
• 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 41% 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 $5k 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 20 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y 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 $43k; list at $165k implies a 285% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,525 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.62% ✓
• Cap rate: 8.54%
• Cash-on-cash: 8.02%
• DSCR: 1.36
• GRM: 5.2

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: -5.7%
• Equity multiple: 0.79×
• Total profit: $-9,722
• Equity at exit: $24,602

10-year hold

• IRR: 2.0%
• Equity multiple: 1.13×
• Total profit: $6,231
• Equity at exit: $14,266

Cash invested: $46,200 (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: 5.2×

Monthly cashflow live

• Estimated rent: $2,670 high
• Mortgage (P&I): −$865
• Tax from tax record: −$288 /mo · $3,458/yr
• Insurance: −$69
• HOA: −$578
• Vacancy / Maint / Mgmt: −$561
• Net cashflow: $309

Break-even live

Break-even rent $2,279

Max offer price $165,000

Occupancy floor 83%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
707 High Point Blvd N Unit C Delray Beach, FL	1.0	1.5	994	$1,600	$1.61	24d	1	0.10mi
775 North Dr Unit A Delray Beach, FL	2.0	2.0	1175	$2,000	$1.70	11d	1	0.13mi
512 High Point Dr Unit C Delray Beach, FL	1.0	2.0	994	$2,100	$2.11	19d	1	0.17mi
1152 Circle Dr Unit D Delray Beach, FL	2.0	2.0	1200	$2,000	$1.67	12d	1	0.24mi
1155 South Drive Cir Unit A Delray Beach, FL	2.0	2.0	1080	$2,195	$2.03	24d	1	0.24mi
1152 Circle Dr Unit D Delray Beach, FL	2.0	2.0	1200	$2,000	$1.67	24d	1	0.24mi
405 High Point Blvd Unit C Delray Beach, FL	1.0	1.5	994	$1,500	$1.51	24d	1	0.25mi
1142 Circle Ter W Unit C Delray Beach, FL	1.0	1.5	1080	$1,700	$1.57	3d	1	0.27mi
328 W Coral Trace Cir Unit 328 Delray Beach, FL	3.0	2.5	1632	$3,500	$2.14	11d	1	0.32mi
328 W Coral Trace Cir Delray Beach, FL	3.0	2.5	1632	$3,500	$2.14	22d	1	0.32mi
3935 Village Dr Unit A Delray Beach, FL	3.0	3.0	1326	$2,700	$2.04	7d	1	0.36mi
3935 Village Dr Delray Beach, FL	3.0	3.0	1326	$2,700	$2.04	5d	1	0.36mi
2513 Coral Trace Pl Delray Beach, FL	3.0	2.5	1632	$3,500	$2.14	24d	1	0.38mi
215 NW 40th Ave Delray Beach, FL	3.0	2.0	1240	$3,350	$2.70	24d	1	0.40mi
2480 S Coral Trace Cir Delray Beach, FL	2.0	2.0	1379	$2,900	$2.10	7d	1	0.40mi
227 Coral Trace Ln Unit 227 Delray Beach, FL	2.0	2.0	1376	$3,100	$2.25	24d	1	0.41mi
212 High Point Ter W Unit C Delray Beach, FL	1.0	1.5	1122	$2,000	$1.78	22d	1	0.42mi
315 Coral Trace Ln Delray Beach, FL	3.0	2.0	1576	$3,800	$2.41	7d	1	0.42mi
2450 S Coral Trace Cir Delray Beach, FL	3.0	2.0	1576	$2,975	$1.89	24d	1	0.44mi
1252 Club Dr W Unit D Delray Beach, FL	2.0	2.0	1137	$2,100	$1.85	24d	1	0.46mi
1252 Club Dr W Unit D Delray Beach, FL	2.0	2.0	1137	$2,100	$1.85	5d	1	0.46mi
2941 Angler Dr Delray Beach, FL	3.0	2.0	1578	$5,000	$3.17	24d	1	0.46mi
2712 Lake Ida Rd Delray Beach, FL	3.0	2.0	1604	$4,000	$2.49	7d	1	0.50mi
4310 Village Dr Unit D Delray Beach, FL	3.0	3.0	1326	$2,600	$1.96	24d	1	0.53mi
125 Via D Este Delray Beach, FL	1.0–3.0	1.0–2.0	1156	$3,290	$2.85	1d	13	0.56mi
2622 NW 7th Ct Delray Beach, FL	2.0	2.5	1384	$2,750	$1.99	24d	1	0.56mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	17d	1	0.61mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	24d	1	0.61mi
3996 NW 7th Ct Delray Beach, FL	3.0	2.0	1480	$5,000	$3.38	24d	1	0.61mi
4515 NW 3rd Ct Unit C Delray Beach, FL	1.0	2.0	1080	$1,900	$1.76	24d	1	0.62mi
872 NW 29th Ave Unit A Delray Beach, FL	2.0	2.0	1188	$2,700	$2.27	24d	1	0.65mi
305 SW 28th Ave Delray Beach, FL	2.0	2.0	1369	$4,300	$3.14	14d	1	0.67mi
354 SW 28th Ave Delray Beach, FL	2.0	2.0	1369	$5,450	$3.98	24d	1	0.69mi
378 SW 28th Ave Delray Beach, FL	3.0	2.0	1519	$3,500	$2.30	11d	1	0.72mi
945 Sunflower Ave Delray Beach, FL	3.0	2.0	1755	$4,500	$2.56	7d	1	0.72mi
500 N Congress Ave Delray Beach, FL	2.0–3.0	1.0–2.0	989	$2,295	$2.32	2d	6	0.73mi
4110 NW 10th St Delray Beach, FL	3.0	2.5	1839	$4,500	$2.45	24d	1	0.78mi
4510 NW 2nd St Unit A Delray Beach, FL	2.0	2.0	1080	$1,800	$1.67	24d	1	0.78mi
2915 NW 12th St Unit D Delray Beach, FL	2.0	2.0	1499	$3,200	$2.13	7d	1	0.84mi
2583 NW 13th St Delray Beach, FL	2.0	2.0	1466	$2,600	$1.77	17d	1	0.92mi

HOA detail condo

• Monthly dues: $578 · $6,936/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-18
   days on market $165,000 Active 20 DOM
2. 2026-06-17
   days on market $165,000 Active 19 DOM
3. 2026-06-16
   days on market $165,000 Active 18 DOM
4. 2026-06-15
   days on market $165,000 Active 17 DOM
5. 2026-06-13
   days on market $165,000 Active 15 DOM
6. 2026-06-09
   days on market $165,000 Active 11 DOM
7. 2026-06-08
   days on market $165,000 Active 10 DOM
8. 2026-06-07
   days on market $165,000 Active 9 DOM
9. 2026-06-04
   days on market $165,000 Active 6 DOM
10. 2026-06-03
    days on market $165,000 Active 5 DOM
11. 2026-06-02
    days on market $165,000 Active 4 DOM
12. 2026-06-01
    days on market $165,000 Active 3 DOM
13. 2026-05-31
    days on market $165,000 Active 2 DOM

ⓘ 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: $3,458 · $288/mo
• Projected year-2 tax: $3,458 · $288/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 · 28 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: $32,037
• − Mortgage interest: −$9,243
• − Property taxes: −$3,458
• − Insurance: −$825
• − Repairs & maintenance: −$2,563
• − Management: −$2,563
• − HOA: −$6,936
• − Depreciation: −$4,800
• Taxable income: $1,650
• Est. tax owed @ 24.0%: −$396
• After-tax cash flow: $3,311/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

+220.4% since first listed

6 events — show timeline

• 2026-05-29 Listed $165,000 Beaches MLS
• 2000-04-12 Sold (Public Records) $42,900 Public Records
• 2000-03-30 Sold (MLS) $42,900 Beaches MLS
• 2000-02-24 Listing Removed — Beaches MLS
• 1999-08-13 Listed $44,900 Beaches MLS
• 1983-12-01 Sold (Public Records) $51,500 Public Records

Property tax history

+17.3%/yr

Latest (2025): $3,458 · +3.4% YoY. Source: county tax records.