2700 SW 22nd Ave #1407 · Delray Beach, FL 33445

$97,000

1 bd · 1.0 ba · 858 sqft · Condo public records · 132 Days on market

Built 1972 $514/mo HOA · 24% 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 +30.0/30.0
• 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 +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Amazing Opportunity to be in Delray Beach, 10 minutes from downotwn & 15 minutes from the beach for under $100k. First-Floor 1-bedroom, 1-bathroom condo nestled in a highly sought-after 55+ community in the heart of Delray Beach! This home offers both comfort and convenience. Step inside to find a spacious walk-in closet, a well-appointed living area, and a covered patio perfect for enjoying your morning coffee or evening breeze. The community features a refreshing pool, ideal for relaxation and socializing. Don't miss this opportunity to enjoy the best of Delray Beach living in a vibrant and welcoming community. Schedule your private showing today!

Key facts

• Refreshing pool
• Walk-in closet
• Covered patio

Tags

• WALK-IN CLOSET
• COVERED PATIO
• REFRESHING POOL

Property features AI

Finance

• HOA & community: HOA with monthly fee; Association amenities include billiard room, game room, jogging path, picnic area, pool, shuffleboard court, on-site manager, and bike storage; Senior community; Pets allowed (pet restrictions possible)

Exterior

• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; 2 total stories; North-facing
• Construction: Built with concrete/CBS and other materials
• Exterior features: Not waterfront; No waterfront features

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: 1 bedroom on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closet(s); Partially furnished

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $97k.

Deal economics

• At list price, monthly cash flow is $498 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $97k).
• Recommended offer: $85k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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.
• Zoned schools: Orchard View Elementary School (math 48% / reading 47%, grade D, #1,182 of 2,144 statewide, top 55%, 596 students, 76% FRL); Boca Raton Community Middle School (math 59% / reading 61%, grade B, #135 of 571 statewide, top 24%, 1,225 students, 41% 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 47% FRL track the district average.
• Market conditions: Rents rising (+1.8%/yr); 359 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $671 of loan paydown is wiped out by about $3k 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 + 1.8% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 6 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 $28k; list at $97k implies a 240% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% 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 $85,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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: 2.23% ✓
• Cap rate: 12.45%
• Cash-on-cash: 21.98%
• DSCR: 1.98
• GRM: 3.7

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: 13.0%
• Equity multiple: 1.51×
• Total profit: $13,816
• Equity at exit: $14,463

10-year hold

• IRR: 20.7%
• Equity multiple: 2.63×
• Total profit: $44,219
• Equity at exit: $8,387

Cash invested: $27,160 (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: 359
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,167 high
• Mortgage (P&I): −$509
• Tax from tax record: −$151 /mo · $1,812/yr
• Insurance: −$40
• HOA: −$514
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $498

Break-even live

Break-even rent $1,537

Max offer price $97,000

Occupancy floor 72%

Sensitivity live

Price	-10% $552	-5% $525	+0% $498	+5% $470	+10% $443
Rent	-10% $326	-5% $412	+0% $498	+5% $583	+10% $669
Rate	-1.0pp $546	-0.5pp $522	base $498	+0.5pp $472	+1.0pp $447

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: $24,250
• Closing costs: $2,910
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2740 SW 22nd Ave #1605 Delray Beach, FL	2.0	2.0	1013	$2,000	$1.97	9d	1	0.01mi
2660 SW 22nd Ave #1203 Delray Beach, FL	2.0	2.0	1013	$2,000	$1.97	26d	1	0.06mi
2440 SW 22nd Ave #703 Delray Beach, FL	2.0	2.0	1013	$2,025	$2.00	19d	1	0.12mi
2335 SW 22nd Ave #104 Delray Beach, FL	2.0	2.0	1120	$2,500	$2.23	26d	1	0.14mi
2315 SW 22nd Ave #2020 Delray Beach, FL	2.0	2.0	985	$2,300	$2.34	21d	1	0.17mi
2340 SW 22nd Ave #306 Delray Beach, FL	2.0	2.0	1066	$1,600	$1.50	21d	1	0.18mi
2805 SW 22nd Ave #104 Delray Beach, FL	2.0	2.0	964	$2,500	$2.59	26d	1	0.18mi
2805 SW 22nd Ave #104 Delray Beach, FL	2.0	2.0	964	$2,450	$2.54	9d	1	0.18mi
2300 SW 22nd Ave #109 Delray Beach, FL	2.0	2.0	1013	$1,899	$1.87	26d	1	0.20mi
2300 SW 22nd Ave #109 Delray Beach, FL	2.0	2.0	1013	$1,899	$1.87	9d	1	0.20mi
2955 SW 22nd Ave #2080 Delray Beach, FL	2.0	2.0	1116	$2,200	$1.97	9d	1	0.24mi
2975 SW 22nd Ave #2020 Delray Beach, FL	2.0	2.0	1096	$2,000	$1.82	22d	1	0.25mi
1874 Heron Club Dr Delray Beach, FL	2.0	1.0–2.0	889	$2,911	$3.27	1d	7	0.27mi
2906 SW 21st Ter Unit 31b2 Delray Beach, FL	2.0	2.0	1120	$2,150	$1.92	26d	1	0.32mi
3015 SW 21st Ter Unit 371B Delray Beach, FL	2.0	2.0	1120	$2,800	$2.50	5d	1	0.44mi
2070 Homewood Blvd #3150 Delray Beach, FL	2.0	2.0	1090	$2,350	$2.16	17d	1	0.53mi
1850 Homewood Blvd #2070 Delray Beach, FL	2.0	2.0	1090	$2,550	$2.34	26d	1	0.55mi
1495 Spring Harbor Dr Delray Beach, FL	1.0	1.0	764	$2,162	$2.83	0d	1	0.56mi
1885 Palm Cove Blvd Unit 10-203 Delray Beach, FL	2.0	2.0	992	$2,300	$2.32	7d	1	0.58mi
1385 Crystal Way Unit L Delray Beach, FL	1.0	1.0	560	$1,850	$3.30	26d	1	0.59mi
1725 Palm Cove Blvd Unit 2-306 Delray Beach, FL	1.0	1.0	934	$2,100	$2.25	22d	1	0.60mi
1335 Crystal Way Unit A Delray Beach, FL	2.0	2.0	978	$2,400	$2.45	1d	1	0.61mi
2201 Catherine Dr Unit 3 Delray Beach, FL	2.0	1.0	876	$2,100	$2.40	26d	1	0.62mi
1845 Palm Cove Blvd Unit 8-301 Delray Beach, FL	2.0	1.0	857	$2,200	$2.57	0d	1	0.63mi
1845 Palm Cove Blvd Unit 8-204 Delray Beach, FL	1.0	1.0	570	$1,850	$3.25	15d	1	0.63mi
2103 Catherine Dr Unit 2 Delray Beach, FL	2.0	1.5	876	$2,025	$2.31	24d	1	0.64mi
1705 Palm Cove Blvd Apt 302 Delray Beach, FL	1.0	1.0	934	$2,000	$2.14	26d	1	0.64mi
1725 Palm Cove Blvd Unit 104 Delray Beach, FL	1.0	1.0	558	$1,700	$3.05	26d	1	0.64mi
1760 Palm Cove Blvd Unit 5-203 Delray Beach, FL	2.0	2.0	993	$2,200	$2.22	16d	1	0.64mi
1760 Palm Cove Blvd Unit 5-203 Delray Beach, FL	2.0	2.0	992	$2,200	$2.22	26d	1	0.64mi
1705 Palm Cove Blvd Unit 1-206 Delray Beach, FL	1.0	1.0	636	$2,150	$3.38	26d	1	0.65mi
1825 Palm Cove Blvd Unit 7-204 Delray Beach, FL	1.0	1.0	636	$2,000	$3.14	6d	1	0.66mi
1825 Palm Cove Blvd Unit UNI8T 105 Delray Beach, FL	2.0	2.0	672	$2,200	$3.27	4d	1	0.66mi
1825 Palm Cove Blvd Unit 7-105 Delray Beach, FL	2.0	2.0	946	$2,200	$2.33	17d	1	0.66mi
2042 Alta Meadows Ln #1712 Delray Beach, FL	2.0	2.0	1058	$2,750	$2.60	26d	1	0.66mi
1780 Palm Cove Blvd Unit 6-302 Delray Beach, FL	1.0	1.0	672	$1,800	$2.68	7d	1	0.69mi
1780 Palm Cove Blvd Unit 6 Delray Beach, FL	1.0	1.0	570	$1,845	$3.24	9d	1	0.69mi
1780 Palm Cove Blvd Unit 6-202 Delray Beach, FL	1.0	1.0	672	$1,800	$2.68	26d	1	0.69mi
2109 Catherine Dr #4 Delray Beach, FL	2.0	1.0	842	$1,950	$2.32	24d	1	0.74mi
1130 Cactus Ter Unit 45C Delray Beach, FL	2.0	1.5	982	$2,000	$2.04	26d	1	0.75mi

HOA detail condo

• Monthly dues: $514 · $6,168/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-21
   days on market $97,000 Active 132 DOM
2. 2026-06-18
   days on market $97,000 Active 129 DOM
3. 2026-06-17
   days on market $97,000 Active 128 DOM
4. 2026-06-16
   days on market $97,000 Active 127 DOM
5. 2026-06-15
   days on market $97,000 Active 126 DOM
6. 2026-06-13
   days on market $97,000 Active 124 DOM
7. 2026-06-09
   days on market $97,000 Active 120 DOM
8. 2026-06-07
   days on market $97,000 Active 118 DOM
9. 2026-06-04
   days on market $97,000 Active 115 DOM
10. 2026-06-03
    days on market $97,000 Active 114 DOM
11. 2026-06-01
    days on market $97,000 Active 112 DOM
12. 2026-05-31
    days on market $97,000 Active 111 DOM
13. 2026-02-09
    historical $1,650
14. 2026-02-09
    listed $97,000 Active
15. 2026-01-21
    listed $1,650
16. 2026-01-17
    historical $1,650
17. 2025-08-01
    listed $1,650
18. 2025-08-01
    historical $1,650
19. 2025-07-31
    listed $1,650
20. 2025-06-26
    historical $1,650
21. 2025-02-21
    listed $1,650
22. 2000-03-21
    soldstatus $28,500
23. 2000-03-04
    historical
24. 1999-11-24
    listed $26,900
25. 1995-04-21
    soldstatus $27,600
26. 1989-09-12
    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: $1,812 · $151/mo
• Projected year-2 tax: $1,812 · $151/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 · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,000
• − Mortgage interest: −$5,434
• − Property taxes: −$1,812
• − Insurance: −$485
• − Repairs & maintenance: −$2,080
• − Management: −$2,080
• − HOA: −$6,168
• − Depreciation: −$2,822
• Taxable income: $5,119
• Est. tax owed @ 24.0%: −$1,229
• After-tax cash flow: $4,742/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

-95.4% since first listed

14 events — show timeline

• 2026-02-09 Rental Removed $1,650 GFLMLS
• 2026-02-09 Listed $97,000 Beaches MLS
• 2026-01-21 Listed for Rent $1,650 GFLMLS
• 2026-01-17 Rental Removed $1,650 RMLSFL
• 2025-08-01 Listed for Rent $1,650 RMLSFL
• 2025-08-01 Rental Removed $1,650 GFLMLS
• 2025-07-31 Listed for Rent $1,650 GFLMLS
• 2025-06-26 Rental Removed $1,650 RMLSFL
• 2025-02-21 Listed for Rent $1,650 RMLSFL
• 2000-03-21 Sold (Public Records) $28,500 Public Records
• 2000-03-04 Listing Removed — Beaches MLS
• 1999-11-24 Listed $26,900 Beaches MLS
• 1995-04-21 Sold (Public Records) $27,600 Public Records
• 1989-09-12 Sold (Public Records) $36,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $1,812 · +6.0% YoY. Source: county tax records.