13988 Via Flora Unit B · Delray Beach, FL 33484

$137,500

2 bd · 1.5 ba · 1,064 sqft · Condo public records · 79 Days on market

Built 1974 $580/mo HOA · 23% 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 +28.2/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to one of Delray Beach's most sought-after communities, where comfort meets resort-style living. This 2-bedroom, 1 1/2 bath villa is immaculate and offers a well-designed, solid floor plan with endless potential to make it your own. The home blends ease and style, featuring a spacious and private backyard sanctuary—perfect for relaxing or entertaining. Inside, the kitchen is both functional and inviting with sleek countertops and a cozy breakfast nook. Enjoy the convenience of a washer and dryer in the home, along with mostly tile flooring and some carpeting, including freshly installed tile in both bedrooms, creating a clean, cohesive feel throughout. The monthly HOA includes

Key facts

• Functional kitchen
• Cozy breakfast nook
• Mostly tile flooring

Tags

• PRIVATE BACKYARD SANCTUARY
• FUNCTIONAL KITCHEN
• COZY BREAKFAST NOOK
• WASHER AND DRYER
• MOSTLY TILE FLOORING
• FRESHLY INSTALLED TILE

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $138k.

Deal economics

• At list price, monthly cash flow is $435 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $138k).
• Recommended offer: $129k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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 fast (+4.3%/yr); 541 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $2,534/mo this rent would consume 49% of the median local household income ($62k/yr) (locally 991% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $951 of loan paydown is wiped out by about $4k 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 + 4.3% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $55k; list at $138k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% 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 $129,249 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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: 1.84% ✓
• Cap rate: 10.09%
• Cash-on-cash: 13.56%
• DSCR: 1.60
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.28% rent growth · sell at horizon

5-year hold

• IRR: 6.0%
• Equity multiple: 1.24×
• Total profit: $9,140
• Equity at exit: $20,502

10-year hold

• IRR: 17.1%
• Equity multiple: 2.54×
• Total profit: $59,242
• Equity at exit: $11,888

Cash invested: $38,500 (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 33484

• Rents YoY: 4.3%
• Active inventory: 541
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,534 high
• Mortgage (P&I): −$721
• Tax from tax record: −$209 /mo · $2,504/yr
• Insurance: −$57
• HOA: −$580
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $435

Break-even live

Break-even rent $1,984

Max offer price $137,500

Occupancy floor 78%

Sensitivity live

Price	-10% $513	-5% $474	+0% $435	+5% $396	+10% $357
Rent	-10% $235	-5% $335	+0% $435	+5% $535	+10% $635
Rate	-1.0pp $504	-0.5pp $470	base $435	+0.5pp $399	+1.0pp $363

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: $34,375
• Closing costs: $4,125
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13759 Date Palm Ct Unit A Delray Beach, FL	2.0	2.0	1247	$3,500	$2.81	25d	1	0.02mi
5655 Via Delray Delray Beach, FL	2.0	2.0	1205	$2,200	$1.83	25d	1	0.09mi
13431 Amber Waves Ave Delray Beach, FL	2.0	2.0	1390	$3,500	$2.52	25d	1	0.12mi
13653 Jubilee Ln Delray Beach, FL	3.0	2.0	1305	$3,450	$2.64	15d	1	0.17mi
5462 Via Delray #123 Delray Beach, FL	2.0	2.0	1200	$2,700	$2.25	22d	1	0.19mi
13670 Via Flora Delray Beach, FL	2.0	2.0	1021	$1,400	$1.37	17d	1	0.21mi
13670 Via Flora Delray Beach, FL	2.0	2.0	1021	$1,400	$1.37	25d	1	0.21mi
13741 Flora Pl Unit B Delray Beach, FL	2.0	2.0	989	$2,100	$2.12	23d	1	0.26mi
5908 Via Delray Blvd Delray Beach, FL	2.0	2.0	1221	$2,000	$1.64	25d	1	0.26mi
5675 Queen Palm Ct Delray Beach, FL	2.0	2.0	1200	$2,600	$2.17	25d	1	0.26mi
13721 Flora Pl Unit D Delray Beach, FL	2.0	2.0	1097	$1,850	$1.69	25d	1	0.29mi
13721 Flora Pl Unit D Delray Beach, FL	2.0	2.0	1097	$1,900	$1.73	6d	1	0.29mi
13731 Flora Pl Unit A Delray Beach, FL	2.0	2.0	1097	$1,850	$1.69	25d	1	0.29mi
13817 Royal Palm Ct Unit B Delray Beach, FL	2.0	2.0	1205	$3,200	$2.66	25d	1	0.30mi
13787 Flora Pl Unit A Delray Beach, FL	2.0	2.0	1097	$2,500	$2.28	25d	1	0.36mi
5260 Grande Palm Cir Delray Beach, FL	3.0	2.0	1464	$2,800	$1.91	25d	1	0.36mi
13657 Night Sky Pl Delray Beach, FL	2.0	2.0	1319	$3,200	$2.43	9d	1	0.36mi
13682 Via Flora Unit H Delray Beach, FL	2.0	2.0	1097	$1,900	$1.73	25d	1	0.38mi
13921 Royal Palm Ct Unit D Delray Beach, FL	2.0	2.0	1205	$4,000	$3.32	9d	1	0.40mi
5850 Sugar Palm Ct Delray Beach, FL	2.0	2.0	1198	$3,300	$2.75	25d	1	0.42mi
13776 Hero Path Delray Beach, FL	3.0	2.0	1319	$3,400	$2.58	25d	1	0.43mi
13283 Pineapple Palm Ct Unit F Delray Beach, FL	2.0	2.0	1198	$2,100	$1.75	25d	1	0.43mi
13283 Pineapple Palm Ct Unit F Delray Beach, FL	2.0	2.0	1198	$2,100	$1.75	9d	1	0.43mi
13419 Noble Dr Delray Beach, FL	2.0	2.0	1410	$3,600	$2.55	18d	1	0.44mi
13886 Via Flora Unit A Delray Beach, FL	2.0	2.0	1097	$2,075	$1.89	25d	1	0.46mi
5200 Privet Pl Unit C Delray Beach, FL	2.0	2.0	1457	$1,850	$1.27	25d	1	0.47mi
13916 Via Flora Unit F Delray Beach, FL	2.0	2.0	989	$3,000	$3.03	25d	1	0.52mi
6038 Lasalle Rd Delray Beach, FL	2.0	2.0	1475	$2,100	$1.42	6d	1	0.56mi
13990 Nesting Way Unit C Delray Beach, FL	1.0	2.0	1092	$2,300	$2.11	25d	1	0.56mi
5093 Privet Pl Unit A-1 Delray Beach, FL	2.0	2.0	1220	$2,350	$1.93	25d	1	0.56mi
5061 Nesting Way Unit D Delray Beach, FL	2.0	2.0	1255	$2,400	$1.91	25d	1	0.57mi
14040 Nesting Way Unit B Delray Beach, FL	1.0	2.0	1092	$1,700	$1.56	25d	1	0.62mi
14139 Nesting Way Unit A Delray Beach, FL	2.0	2.0	1255	$2,000	$1.59	0d	1	0.65mi
1418 W Wickham Cir Unit B Delray Beach, FL	3.0	2.5	1316	$3,200	$2.43	18d	1	0.67mi
14050 Pacific Point Pl Delray Beach, FL	1.0–3.0	1.0–2.0	1033	$2,682	$2.60	0d	29	0.67mi
4809 N Wickham Cir Unit A Delray Beach, FL	2.0	2.0	1028	$2,600	$2.53	25d	1	0.67mi
5349 Lakefront Blvd Unit B Delray Beach, FL	1.0	2.0	1068	$1,800	$1.69	25d	1	0.71mi
5550 Nepsa Way Delray Beach, FL	1.0–3.0	1.0–2.0	1035	$2,744	$2.65	0d	11	0.72mi
12547 Imperial Isle Dr Boynton Beach, FL	2.0–3.0	2.0	1500	$2,500	$1.67	25d	2	0.90mi
5265 NW 3rd St Unit C Delray Beach, FL	1.0	1.5	1080	$2,200	$2.04	25d	1	0.92mi

HOA detail condo

• Monthly dues: $580 · $6,960/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-04-24
   status Pending
2. 2026-04-06
   historical Active Under Contract
3. 2026-03-18
   price $137,500
4. 2026-02-16
   status Active
5. 2026-02-12
   status Pending
6. 2026-01-31
   listed $139,000 Active
7. 2012-02-15
   soldstatus $55,000
8. 1998-04-01
   soldstatus $36,000

ⓘ 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: $2,504 · $209/mo
• Projected year-2 tax: $2,504 · $209/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 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: $30,409
• − Mortgage interest: −$7,702
• − Property taxes: −$2,504
• − Insurance: −$688
• − Repairs & maintenance: −$2,433
• − Management: −$2,433
• − HOA: −$6,960
• − Depreciation: −$4,000
• Taxable income: $3,690
• Est. tax owed @ 24.0%: −$886
• After-tax cash flow: $4,333/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): 26,208
• Household income: $62,151
• Rent vs Own: 19.0% rent · 81.0% own
• Severe rent burden: 991.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 10% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Scotch-Irish 7% Romanian 6% Italian 2%
• Foreign-born: 23% · Canada, Jamaica, China
• Languages at home: 76% English-only · Spanish 13% Russian/Polish/Slavic 3% French/Haitian/Cajun 3%

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: ▼ -232.73%
• Current HPI: 254.5016
• Rent YoY: ▲ 4.28%
• 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

+281.9% since first listed

8 events — show timeline

• 2026-04-24 Pending — Beaches MLS
• 2026-04-06 Contingent — Beaches MLS
• 2026-03-18 Price Changed $137,500 Beaches MLS
• 2026-02-16 Relisted — Beaches MLS
• 2026-02-12 Pending — Beaches MLS
• 2026-01-31 Listed $139,000 Beaches MLS
• 2012-02-15 Sold (Public Records) $55,000 Public Records
• 1998-04-01 Sold (Public Records) $36,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $2,504 · -22.0% YoY. Source: county tax records.