5590 Via Delray Unit B · Delray Beach, FL 33484

$199,000

2 bd · 2.0 ba · 1,221 sqft · Condo public records · 23 Days on market

Built 1974 $360/mo HOA · 14% 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 +18.3/30.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• 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 MLS

Beautiful, updated 2BR/2BA condo with enclosed patio, for a total of over 1,300 SqFt under air. In one of the most popular sections of Villa Delray as it's walking distance to the clubhouse. Light and bright, the all-impact windows are plentiful. The condo's centerpiece is the renovated kitchen boasting granite counter tops, glass mosaic backsplash, dark wood and glass cabinets with pull-outs, undermount, inside cabinet and recessed ceiling lighting, SS appliances, and custom W/ D cabinet. All open to the dining area and living room, there's a wonderful feeling of spaciousness. Primary bedroom has custom closets. Both primary and guest bathrooms are updated as well. Come check out the best in 55+ living today!

Key facts

• Gated community
• Community amenities
• $360 HOA

Tags

• GATED COMMUNITY
• COMMUNITY AMENITIES

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee of $360; Association covers common areas, cable TV, insurance, structure maintenance, roof, and water; Senior community

Exterior

• Parking: Assigned parking
• Home design: 2-story property; Entry on level 2; Attached property
• Construction: Block construction; Effective year built
• Exterior features: Lakefront; Has a view

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator
• Bedrooms: Primary bedroom on upper level
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Eat-in kitchen; Living/dining room; Pantry; Split bedrooms; Upper-level primary bedroom; Walk-in closet(s); Blinds; Impact glass
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $196k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.4% 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); 546 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $2,532/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 $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.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 18y 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.

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 $196,015 (1.5% below list)

Questions for the listing agent

1. Built in 1974 — 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: 1.27% ✓
• Cap rate: 7.39%
• Cash-on-cash: 3.91%
• DSCR: 1.17
• GRM: 6.5

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: -8.2%
• Equity multiple: 0.69×
• Total profit: $-17,061
• Equity at exit: $29,672

10-year hold

• IRR: 3.5%
• Equity multiple: 1.27×
• Total profit: $15,217
• Equity at exit: $17,206

Cash invested: $55,720 (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: 546
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,532 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$332 /mo · $3,984/yr
• Insurance: −$83
• HOA: −$360
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $182

Break-even live

Break-even rent $2,302

Max offer price $199,000

Occupancy floor 88%

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: $49,750
• Closing costs: $5,970
• 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	24d	1	0.07mi
5655 Via Delray Delray Beach, FL	2.0	2.0	1205	$2,200	$1.83	24d	1	0.10mi
13653 Jubilee Ln Delray Beach, FL	3.0	2.0	1305	$3,450	$2.64	13d	1	0.10mi
13670 Via Flora Delray Beach, FL	2.0	2.0	1021	$1,400	$1.37	24d	1	0.14mi
13670 Via Flora Delray Beach, FL	2.0	2.0	1021	$1,400	$1.37	15d	1	0.14mi
5462 Via Delray #123 Delray Beach, FL	2.0	2.0	1200	$2,700	$2.25	20d	1	0.15mi
13431 Amber Waves Ave Delray Beach, FL	2.0	2.0	1390	$3,500	$2.52	24d	1	0.18mi
13741 Flora Pl Unit B Delray Beach, FL	2.0	2.0	989	$2,100	$2.12	21d	1	0.19mi
13721 Flora Pl Unit D Delray Beach, FL	2.0	2.0	1097	$1,900	$1.73	5d	1	0.22mi
13721 Flora Pl Unit D Delray Beach, FL	2.0	2.0	1097	$1,850	$1.69	24d	1	0.22mi
13731 Flora Pl Unit A Delray Beach, FL	2.0	2.0	1097	$1,850	$1.69	24d	1	0.23mi
5908 Via Delray Blvd Delray Beach, FL	2.0	2.0	1221	$2,000	$1.64	24d	1	0.27mi
5675 Queen Palm Ct Delray Beach, FL	2.0	2.0	1200	$2,600	$2.17	24d	1	0.27mi
13787 Flora Pl Unit A Delray Beach, FL	2.0	2.0	1097	$2,500	$2.28	24d	1	0.30mi
13682 Via Flora Unit H Delray Beach, FL	2.0	2.0	1097	$1,900	$1.73	24d	1	0.31mi
13657 Night Sky Pl Delray Beach, FL	2.0	2.0	1319	$3,200	$2.43	7d	1	0.33mi
13817 Royal Palm Ct Unit B Delray Beach, FL	2.0	2.0	1205	$3,200	$2.66	24d	1	0.36mi
13776 Hero Path Delray Beach, FL	3.0	2.0	1319	$3,400	$2.58	24d	1	0.37mi
5260 Grande Palm Cir Delray Beach, FL	3.0	2.0	1464	$2,800	$1.91	24d	1	0.37mi
13886 Via Flora Unit A Delray Beach, FL	2.0	2.0	1097	$2,075	$1.89	24d	1	0.40mi
13419 Noble Dr Delray Beach, FL	2.0	2.0	1410	$3,600	$2.55	17d	1	0.43mi
5200 Privet Pl Unit C Delray Beach, FL	2.0	2.0	1457	$1,850	$1.27	24d	1	0.44mi
13916 Via Flora Unit F Delray Beach, FL	2.0	2.0	989	$3,000	$3.03	24d	1	0.46mi
13921 Royal Palm Ct Unit D Delray Beach, FL	2.0	2.0	1205	$4,000	$3.32	7d	1	0.47mi
13283 Pineapple Palm Ct Unit F Delray Beach, FL	2.0	2.0	1198	$2,100	$1.75	7d	1	0.47mi
13283 Pineapple Palm Ct Unit F Delray Beach, FL	2.0	2.0	1198	$2,100	$1.75	24d	1	0.47mi
5850 Sugar Palm Ct Delray Beach, FL	2.0	2.0	1198	$3,300	$2.75	24d	1	0.48mi
13990 Nesting Way Unit C Delray Beach, FL	1.0	2.0	1092	$2,300	$2.11	24d	1	0.50mi
5061 Nesting Way Unit D Delray Beach, FL	2.0	2.0	1255	$2,400	$1.91	24d	1	0.52mi
6038 Lasalle Rd Delray Beach, FL	2.0	2.0	1475	$2,100	$1.42	4d	1	0.53mi
5093 Privet Pl Unit A-1 Delray Beach, FL	2.0	2.0	1220	$2,350	$1.93	24d	1	0.54mi
14040 Nesting Way Unit B Delray Beach, FL	1.0	2.0	1092	$1,700	$1.56	24d	1	0.56mi
14139 Nesting Way Unit A Delray Beach, FL	2.0	2.0	1255	$2,200	$1.75	11d	1	0.58mi
14050 Pacific Point Pl Delray Beach, FL	1.0–3.0	1.0–2.0	1033	$2,758	$2.67	1d	22	0.60mi
5349 Lakefront Blvd Unit B Delray Beach, FL	1.0	2.0	1068	$1,800	$1.69	24d	1	0.64mi
5550 Nepsa Way Delray Beach, FL	1.0–3.0	1.0–2.0	1035	$2,776	$2.68	1d	12	0.65mi
1418 W Wickham Cir Unit B Delray Beach, FL	3.0	2.5	1316	$3,200	$2.43	17d	1	0.67mi
4809 N Wickham Cir Unit A Delray Beach, FL	2.0	2.0	1028	$2,600	$2.53	24d	1	0.68mi
5265 NW 3rd St Unit C Delray Beach, FL	1.0	1.5	1080	$2,200	$2.04	24d	1	0.87mi
14111 Royal Vista Dr #404 Delray Beach, FL	2.0	2.0	1392	$3,200	$2.30	24d	1	0.87mi

HOA detail condo

• Monthly dues: $360 · $4,320/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-18
   days on market $199,000 Active 23 DOM
2. 2026-06-17
   days on market $199,000 Active 22 DOM
3. 2026-06-16
   days on market $199,000 Active 21 DOM
4. 2026-06-15
   days on market $199,000 Active 20 DOM
5. 2026-06-13
   days on market $199,000 Active 18 DOM
6. 2026-06-09
   days on market $199,000 Active 14 DOM
7. 2026-06-08
   days on market $199,000 Active 13 DOM
8. 2026-06-07
   days on market $199,000 Active 12 DOM
9. 2026-06-04
   days on market $199,000 Active 9 DOM
10. 2026-06-03
    days on market $199,000 Active 8 DOM
11. 2026-06-02
    days on market $199,000 Active 7 DOM
12. 2026-06-01
    days on market $199,000 Active 6 DOM
13. 2026-05-31
    days on market $199,000 Active 5 DOM
14. 2026-05-26
    listed $199,000 Active
15. 2023-12-21
    historical $2,100
16. 2023-11-23
    listed $2,100
17. 2023-09-01
    soldstatus $252,000
18. 2023-03-13
    historical
19. 2023-03-01
    price $274,900
20. 2023-03-01
    status Active
21. 2023-01-30
    historical
22. 2023-01-13
    price $299,900
23. 2022-12-15
    listed $325,000 Active
24. 2022-11-01
    soldstatus $255,000
25. 2022-10-24
    soldstatus $255,000 Closed 720-char remark

    Show marketing remark (720 chars)

    Beautiful, updated 2BR/2BA condo with enclosed patio, for a total of over 1,300 SqFt under air. In one of the most popular sections of Villa Delray as it's walking distance to the clubhouse. Light and bright, the all-impact windows are plentiful. The condo's centerpiece is the renovated kitchen boasting granite counter tops, glass mosaic backsplash, dark wood and glass cabinets with pull-outs, undermount, inside cabinet and recessed ceiling lighting, SS appliances, and custom W/ D cabinet. All open to the dining area and living room, there's a wonderful feeling of spaciousness. Primary bedroom has custom closets. Both primary and guest bathrooms are updated as well. Come check out the best in 55+ living today!

26. 2022-10-10
    historical Active Under Contract 720-char remark

    Show marketing remark (720 chars)

    Beautiful, updated 2BR/2BA condo with enclosed patio, for a total of over 1,300 SqFt under air. In one of the most popular sections of Villa Delray as it's walking distance to the clubhouse. Light and bright, the all-impact windows are plentiful. The condo's centerpiece is the renovated kitchen boasting granite counter tops, glass mosaic backsplash, dark wood and glass cabinets with pull-outs, undermount, inside cabinet and recessed ceiling lighting, SS appliances, and custom W/ D cabinet. All open to the dining area and living room, there's a wonderful feeling of spaciousness. Primary bedroom has custom closets. Both primary and guest bathrooms are updated as well. Come check out the best in 55+ living today!

27. 2022-09-27
    listed $255,000 Active 720-char remark

    Show marketing remark (720 chars)

    Beautiful, updated 2BR/2BA condo with enclosed patio, for a total of over 1,300 SqFt under air. In one of the most popular sections of Villa Delray as it's walking distance to the clubhouse. Light and bright, the all-impact windows are plentiful. The condo's centerpiece is the renovated kitchen boasting granite counter tops, glass mosaic backsplash, dark wood and glass cabinets with pull-outs, undermount, inside cabinet and recessed ceiling lighting, SS appliances, and custom W/ D cabinet. All open to the dining area and living room, there's a wonderful feeling of spaciousness. Primary bedroom has custom closets. Both primary and guest bathrooms are updated as well. Come check out the best in 55+ living today!

28. 2020-08-21
    historical
29. 2020-08-04
    listed $174,900 Active
30. 2019-03-11
    historical
31. 2019-03-01
    status Active
32. 2019-02-12
    historical
33. 2018-11-24
    price $170,000
34. 2018-10-22
    listed $175,000 Active
35. 2010-04-29
    historical
36. 2009-10-29
    listed $129,900
37. 2008-11-03
    soldstatus $60,000
38. 2008-10-29
    soldstatus $60,000
39. 2008-09-05
    historical
40. 2008-03-27
    listed $79,900

ⓘ 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: $3,984 · $332/mo
• Projected year-2 tax: $3,984 · $332/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: $30,383
• − Mortgage interest: −$11,147
• − Property taxes: −$3,984
• − Insurance: −$995
• − Repairs & maintenance: −$2,431
• − Management: −$2,431
• − HOA: −$4,320
• − Depreciation: −$5,789
• Taxable loss: −$714
• Est. tax savings @ 24.0%: +$171
• After-tax cash flow: $2,352/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

+149.1% since first listed

27 events — show timeline

• 2026-05-26 Listed $199,000 MARMLS
• 2023-12-21 Rental Removed $2,100 TURBOTENANT
• 2023-11-23 Listed for Rent $2,100 TURBOTENANT
• 2023-09-01 Sold (Public Records) $252,000 Public Records
• 2023-03-13 Listing Removed — Beaches MLS
• 2023-03-01 Price Changed $274,900 Beaches MLS
• 2023-03-01 Relisted — Beaches MLS
• 2023-01-30 Listing Removed — Beaches MLS
• 2023-01-13 Price Changed $299,900 Beaches MLS
• 2022-12-15 Listed $325,000 Beaches MLS
• 2022-11-01 Sold (Public Records) $255,000 Public Records
• 2022-10-24 Sold (MLS) $255,000 Beaches MLS
• 2022-10-10 Contingent — Beaches MLS
• 2022-09-27 Listed $255,000 Beaches MLS
• 2020-08-21 Listing Removed — Beaches MLS
• 2020-08-04 Listed $174,900 Beaches MLS
• 2019-03-11 Listing Removed — Beaches MLS
• 2019-03-01 Relisted — Beaches MLS
• 2019-02-12 Listing Removed — Beaches MLS
• 2018-11-24 Price Changed $170,000 Beaches MLS
• 2018-10-22 Listed $175,000 Beaches MLS
• 2010-04-29 Listing Removed — Beaches MLS
• 2009-10-29 Listed $129,900 Beaches MLS
• 2008-11-03 Sold (Public Records) $60,000 Public Records
• 2008-10-29 Sold (MLS) $60,000 Beaches MLS
• 2008-09-05 Listing Removed — Beaches MLS
• 2008-03-27 Listed $79,900 Beaches MLS

Property tax history

+9.1%/yr

Latest (2025): $3,984 · +1.9% YoY. Source: county tax records.