505 Monaco K · Delray Beach, FL 33446

$103,900

2 bd · 2.0 ba · 988 sqft · Condo public records · 106 Days on market

Built 1974 $816/mo HOA · 45% 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 +11.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• DSCR +3.4/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Experience maintenance free living at it's finest! Come see this pristine residence with elevator in sought after ''Monaco'' of Kings Point. Classy updated Kitchen, ceramic tile & new laminate flooring. Fully renovated master bath and new washer/dryer. Monaco has its own clubhouse, pool & Bistro! You'll enjoy delicious meals delivered right to your door! The three clubhouses in the community house all of the amenities ensuring residents always have options to stay socially and physically active. For a full description of this communities active myriad of resort style amenities please visit www. kingspointdelray.com. You'll love it here!

Key facts

• New fpl disconnect
• Replaced roof
• Updated kitchen

Tags

• UPDATED KITCHEN
• SHAKER-STYLE CABINETS
• NICELY REMODELED BATHROOMS
• NEW ELECTRICAL PANEL
• NEW FPL DISCONNECT
• REPLACED ROOF

Property features AI

Finance

• Other: Not a pet-friendly unit (pets not allowed); Senior community
• HOA & community: Association: Vesta Property Services; Monthly HOA fee; HOA covers cable TV, insurance, grounds maintenance, common areas, and roof repairs; Community amenities include clubhouse, fitness center, indoor pool, heated pool, spa/hot tub, tennis courts, pickleball courts, shuffleboard, billiard and game rooms, library, cafe/restaurant, courtesy bus, maintained community, elevator(s), and security

Exterior

• Parking: Assigned parking; Guest parking; 1 open parking space
• Security: Gated community with guard
• Utilities: Public water; Public sewer; Three-phase electric available; Cable available
• Home design: Condominium; One level (single-story living); Faces west; Updated/remodeled condition; Resale property
• Construction: Frame and stucco construction; Flat roof; 2 total stories in building; Building name: K
• Exterior features: Screened porch; Porch

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Walk-in closets; Stacked bedroom layout; Blinds on windows
• Laundry & utility: In-unit laundry with washer hookup; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $104k.

Deal economics

• At list price, monthly cash flow is $-32 ($-382/yr) — negative.
• To cash-flow at today's rent, offer at most $98k (5.4% below list).
• Meets the 1% rule at list price ($2k rent vs $104k).
• Recommended offer: $95k (9.0% below list) — sets the bar for market timing.
• Cap rate 5.9% vs local median 4.4% 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 25d 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

• In year one you build about $1k of equity ($718 loan paydown + $714 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.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $11k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 45% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $94,549 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.76% ✓
• Cap rate: 5.93%
• Cash-on-cash: -1.31%
• DSCR: 0.94
• 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: -4.0%
• Equity multiple: 0.81×
• Total profit: $-5,651
• Equity at exit: $33,787

10-year hold

• IRR: -1.8%
• Equity multiple: 0.81×
• Total profit: $-5,422
• Equity at exit: $43,625

Cash invested: $29,092 (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: $1,833 high
• Mortgage (P&I): −$545
• Tax from tax record: −$76 /mo · $912/yr
• Insurance: −$43
• HOA: −$816
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $-32

Break-even live

Break-even rent $1,874

Max offer price $98,280

Occupancy floor 97%

Sensitivity live

Price	-10% $27	-5% $-2	+0% $-32	+5% $-61	+10% $-91
Rent	-10% $-177	-5% $-104	+0% $-32	+5% $41	+10% $113
Rate	-1.0pp $21	-0.5pp $-5	base $-32	+0.5pp $-59	+1.0pp $-86

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: $25,975
• Closing costs: $3,117
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
581 Monaco Blvd Unit 581 Delray Beach, FL	2.0	2.0	880	$2,000	$2.27	25d	1	0.01mi
711 Monaco O Delray Beach, FL	1.0	1.5	720	$1,550	$2.15	25d	1	0.01mi
459 Monaco Blvd Unit 459 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	0d	1	0.01mi
451 Monaco Blvd Unit J Delray Beach, FL	1.0	1.5	720	$1,599	$2.22	25d	1	0.01mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	19d	1	0.02mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	13d	1	0.02mi
482 Monaco Blvd #482 Delray Beach, FL	1.0	1.5	726	$1,400	$1.93	25d	1	0.02mi
401 Monaco Way Unit 401 Delray Beach, FL	2.0	2.0	920	$1,950	$2.12	25d	1	0.03mi
153 Monaco D Delray Beach, FL	2.0	2.0	880	$1,750	$1.99	17d	1	0.04mi
195 Monaco E Delray Beach, FL	1.0	1.5	728	$1,550	$2.13	25d	1	0.04mi
459 Monaco J #459 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	2d	1	0.08mi
569 Monaco L Delray Beach, FL	2.0	2.0	880	$1,500	$1.70	25d	1	0.09mi
58 Monaco Blvd Unit 58 Delray Beach, FL	1.0	1.5	720	$1,650	$2.29	25d	1	0.09mi
72 Monaco Blvd Unit 72 Delray Beach, FL	2.0	2.0	880	$1,950	$2.22	23d	1	0.09mi
276 Monaco F Delray Beach, FL	2.0	2.0	883	$1,650	$1.87	25d	1	0.10mi
286 Monaco F Delray Beach, FL	1.0	2.0	726	$1,700	$2.34	25d	1	0.10mi
318 Monaco G Delray Beach, FL	2.0	2.0	907	$2,200	$2.43	25d	1	0.10mi
669 Monaco N Delray Beach, FL	2.0	2.0	880	$1,700	$1.93	25d	1	0.13mi
679 Saxony Way Delray Beach, FL	1.0	1.5	720	$1,600	$2.22	6d	1	0.15mi
11 Brittany a Delray Beach, FL	1.0	1.5	725	$1,500	$2.07	8d	1	0.16mi
233 Brittany Dr Unit 233 Delray Beach, FL	2.0	2.0	988	$1,700	$1.72	25d	1	0.17mi
564 Brittany L Delray Beach, FL	2.0	2.5	880	$1,800	$2.05	25d	1	0.17mi
419 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	25d	1	0.17mi
520 Brittany K Unit K Delray Beach, FL	2.0	2.0	880	$1,400	$1.59	0d	1	0.17mi
233 Brittany F Unit F Delray Beach, FL	2.0	2.0	988	$1,600	$1.62	25d	1	0.17mi
292 Brittany Ave #292 Delray Beach, FL	2.0	2.0	880	$1,700	$1.93	4d	1	0.17mi
537 Brittany K Unit 537 Delray Beach, FL	2.0	2.0	880	$1,700	$1.93	25d	1	0.17mi
568 Brittany L Delray Beach, FL	2.0	2.0	883	$1,950	$2.21	25d	1	0.17mi
159 Brittany Ter Unit 159 Delray Beach, FL	1.0	1.5	720	$1,795	$2.49	17d	1	0.17mi
233 Brittany F Unit F Delray Beach, FL	2.0	2.0	988	$1,600	$1.62	8d	1	0.17mi
260 Brittany F Unit F Delray Beach, FL	2.0	2.0	880	$1,600	$1.82	3d	1	0.17mi
270 Brittany F Unit F Delray Beach, FL	1.0	1.5	720	$1,600	$2.22	8d	1	0.17mi
675 Brittany O Delray Beach, FL	1.0	1.5	720	$1,500	$2.08	25d	1	0.18mi
352 Saxony Trl Unit 352 Delray Beach, FL	2.0	2.0	907	$2,000	$2.21	25d	1	0.19mi
23 Saxony a Delray Beach, FL	1.0	1.5	726	$1,300	$1.79	8d	1	0.19mi
594 Saxony Trl Unit 594 Delray Beach, FL	1.0	1.5	720	$1,550	$2.15	3d	1	0.19mi
123 Saxony C Delray Beach, FL	1.0	1.5	720	$2,500	$3.47	25d	1	0.19mi
594 Saxony Trl Unit 594 Delray Beach, FL	1.0	1.5	720	$1,650	$2.29	25d	1	0.19mi
445 Saxony Way #445 Delray Beach, FL	2.0	2.0	883	$1,550	$1.76	25d	1	0.19mi
662 Saxony N Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	21d	1	0.19mi

HOA detail condo

• Monthly dues: $816 · $9,792/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-21
   days on market $103,900 Active 106 DOM
2. 2026-06-18
   days on market $103,900 Active 103 DOM
3. 2026-06-17
   days on market $103,900 Active 102 DOM
4. 2026-06-16
   days on market $103,900 Active 101 DOM
5. 2026-06-15
   days on market $103,900 Active 100 DOM
6. 2026-06-13
   days on market $103,900 Active 98 DOM
7. 2026-06-09
   days on market $103,900 Active 94 DOM
8. 2026-06-08
   days on market $103,900 Active 93 DOM
9. 2026-06-07
   days on market $103,900 Active 92 DOM
10. 2026-06-04
    days on market $103,900 Active 89 DOM
11. 2026-06-03
    days on market $103,900 Active 88 DOM
12. 2026-06-02
    days on market $103,900 Active 87 DOM
13. 2026-06-01
    days on market $103,900 Active 86 DOM
14. 2026-05-31
    days on market $103,900 Active 85 DOM
15. 2026-05-01
    price $103,900
16. 2026-03-30
    price $109,900
17. 2026-03-07
    listed $114,900 Active
18. 2021-08-27
    soldstatus $119,900 Closed 656-char remark

    Show marketing remark (656 chars)

    Experience maintenance free living at it's finest! Come see this pristine residence with elevator in sought after ''Monaco'' of Kings Point. Classy updated Kitchen, ceramic tile & new laminate flooring. Fully renovated master bath and new washer/dryer. Monaco has its own clubhouse, pool & Bistro! You'll enjoy delicious meals delivered right to your door! The three clubhouses in the community house all of the amenities ensuring residents always have options to stay socially and physically active. For a full description of this communities active myriad of resort style amenities please visit www. kingspointdelray.com. You'll love it here!

19. 2021-07-20
    historical Active Under Contract 656-char remark

    Show marketing remark (656 chars)

    Experience maintenance free living at it's finest! Come see this pristine residence with elevator in sought after ''Monaco'' of Kings Point. Classy updated Kitchen, ceramic tile & new laminate flooring. Fully renovated master bath and new washer/dryer. Monaco has its own clubhouse, pool & Bistro! You'll enjoy delicious meals delivered right to your door! The three clubhouses in the community house all of the amenities ensuring residents always have options to stay socially and physically active. For a full description of this communities active myriad of resort style amenities please visit www. kingspointdelray.com. You'll love it here!

20. 2021-06-28
    listed $119,900 Active 656-char remark

    Show marketing remark (656 chars)

    Experience maintenance free living at it's finest! Come see this pristine residence with elevator in sought after ''Monaco'' of Kings Point. Classy updated Kitchen, ceramic tile & new laminate flooring. Fully renovated master bath and new washer/dryer. Monaco has its own clubhouse, pool & Bistro! You'll enjoy delicious meals delivered right to your door! The three clubhouses in the community house all of the amenities ensuring residents always have options to stay socially and physically active. For a full description of this communities active myriad of resort style amenities please visit www. kingspointdelray.com. You'll love it here!

21. 1984-12-01
    soldstatus $43,000

ⓘ 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: $912 · $76/mo
• Projected year-2 tax: $912 · $76/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 9/10 Extreme 7 d/yr ≥107°F today · 23 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,000
• − Mortgage interest: −$5,820
• − Property taxes: −$912
• − Insurance: −$520
• − Repairs & maintenance: −$1,760
• − Management: −$1,760
• − HOA: −$9,792
• − Depreciation: −$3,023
• Taxable loss: −$1,586
• Est. tax savings @ 24.0%: +$381
• After-tax cash flow: $-1/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

+141.6% since first listed

7 events — show timeline

• 2026-05-01 Price Changed $103,900 Beaches MLS
• 2026-03-30 Price Changed $109,900 Beaches MLS
• 2026-03-07 Listed $114,900 Beaches MLS
• 2021-08-27 Sold (MLS) $119,900 Beaches MLS
• 2021-07-20 Contingent — Beaches MLS
• 2021-06-28 Listed $119,900 Beaches MLS
• 1984-12-01 Sold (Public Records) $43,000 Public Records

Property tax history

+10.9%/yr

Latest (2025): $912 · -34.0% YoY. Source: county tax records.