797 North Dr Unit C · Delray Beach, FL 33445

$169,000

1 bd · 1.5 ba · 1,122 sqft · Condo public records · 1 Days on market

Built 1973 $512/mo HOA · 23% 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 +8.4/10.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 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

Spacious 1BR/2BA condo with over 1,100 sq. ft. of living space! Features a large primary suite with 2 closets and en-suite bath, open floor plan, alley-style kitchen, expansive living/dining area, and oversized Florida room. Shared laundry with only 3 neighboring units. Located in a desirable 55+ community with pool and great amenities. Prime Delray Beach location close to shopping, dining, golf, and beaches. Great opportunity to enjoy South Florida living!

Key facts

• Open floor plan
• En-suite bath
• Large primary suite

Tags

• LARGE PRIMARY SUITE
• EN-SUITE BATH
• OPEN FLOOR PLAN
• ALLEY-STYLE KITCHEN
• EXPANSIVE LIVING DINING AREA
• OVERSIZED FLORIDA ROOM

Property features AI

Finance

• HOA & community: HOA with monthly fee ($512) covering cable TV, internet, grounds maintenance, trash, water, common areas and recreation facilities; Community amenities include clubhouse, fitness center, jogging path, laundry, management, parking, pool, shuffleboard court, on-site manager, community room and recreation facilities; Pets allowed (restrictions possible); Senior community

Exterior

• Parking: Assigned parking; Guest parking (total 1 parking space)
• Utilities: Public water; Public sewer; Utilities: Other
• Home design: Condominium; One story; Entry-level living area; North-facing
• Construction: Stucco construction; Shingle roof; Built as resale
• Exterior features: Covered patio; Screened patio; Patio

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Freezer
• Bedrooms: 1 main-level bedroom
• Flooring: Tile; Wood
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fan(s)
• Interior features: Built-in features; Walk-in closet(s); Custom mirrors
• Laundry & utility: Community laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $169k.

Deal economics

• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• 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.
• 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 24d 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 35% 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 15 sale attempts since 20y 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

• 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,000

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: 1.34% ✓
• Cap rate: 7.40%
• Cash-on-cash: 3.94%
• DSCR: 1.18
• GRM: 6.2

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: -11.7%
• Equity multiple: 0.58×
• Total profit: $-19,809
• Equity at exit: $25,198

10-year hold

• IRR: -4.7%
• Equity multiple: 0.71×
• Total profit: $-13,759
• Equity at exit: $14,612

Cash invested: $47,320 (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: 6.2×

Monthly cashflow live

• Estimated rent: $2,257 high
• Mortgage (P&I): −$886
• Tax from tax record: −$159 /mo · $1,907/yr
• Insurance: −$70
• HOA: −$512
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $155

Break-even live

Break-even rent $2,060

Max offer price $169,000

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
775 North Dr Unit A Delray Beach, FL	2.0	2.0	1175	$2,000	$1.70	10d	1	0.10mi
707 High Point Blvd N Unit C Delray Beach, FL	1.0	1.5	994	$1,600	$1.61	24d	1	0.16mi
512 High Point Dr Unit C Delray Beach, FL	1.0	2.0	994	$2,100	$2.11	19d	1	0.28mi
227 Coral Trace Ln Unit 227 Delray Beach, FL	2.0	2.0	1376	$3,100	$2.25	24d	1	0.30mi
2480 S Coral Trace Cir Delray Beach, FL	2.0	2.0	1379	$2,900	$2.10	7d	1	0.32mi
405 High Point Blvd Unit C Delray Beach, FL	1.0	1.5	994	$1,500	$1.51	24d	1	0.38mi
1152 Circle Dr Unit D Delray Beach, FL	2.0	2.0	1200	$2,000	$1.67	24d	1	0.38mi
1152 Circle Dr Unit D Delray Beach, FL	2.0	2.0	1200	$2,000	$1.67	12d	1	0.38mi
1155 South Drive Cir Unit A Delray Beach, FL	2.0	2.0	1080	$2,195	$2.03	24d	1	0.38mi
2622 NW 7th Ct Delray Beach, FL	2.0	2.5	1384	$2,750	$1.99	24d	1	0.39mi
1142 Circle Ter W Unit C Delray Beach, FL	1.0	1.5	1080	$1,700	$1.57	2d	1	0.39mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	24d	1	0.49mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	17d	1	0.49mi
872 NW 29th Ave Unit A Delray Beach, FL	2.0	2.0	1188	$2,700	$2.27	24d	1	0.51mi
500 N Congress Ave Delray Beach, FL	2.0–3.0	1.0–2.0	989	$2,295	$2.32	1d	6	0.55mi
212 High Point Ter W Unit C Delray Beach, FL	1.0	1.5	1122	$2,000	$1.78	21d	1	0.57mi
1252 Club Dr W Unit D Delray Beach, FL	2.0	2.0	1137	$2,100	$1.85	24d	1	0.59mi
1252 Club Dr W Unit D Delray Beach, FL	2.0	2.0	1137	$2,100	$1.85	5d	1	0.59mi
2915 NW 12th St Unit D Delray Beach, FL	2.0	2.0	1499	$3,200	$2.13	7d	1	0.70mi
4515 NW 3rd Ct Unit C Delray Beach, FL	1.0	2.0	1080	$1,900	$1.76	24d	1	0.72mi
125 Via D Este Delray Beach, FL	1.0–3.0	1.0–2.0	1156	$2,450	$2.12	1d	13	0.74mi
2583 NW 13th St Delray Beach, FL	2.0	2.0	1466	$2,600	$1.77	17d	1	0.75mi
1720 Depot Ave Delray Beach, FL	2.0	2.0	1189	$2,650	$2.23	24d	1	0.78mi
1720 Depot Ave Delray Beach, FL	2.0	2.0	1199	$2,874	$2.40	13d	1	0.78mi
305 SW 28th Ave Delray Beach, FL	2.0	2.0	1369	$4,300	$3.14	13d	1	0.81mi
354 SW 28th Ave Delray Beach, FL	2.0	2.0	1369	$5,450	$3.98	24d	1	0.84mi
4510 NW 2nd St Unit A Delray Beach, FL	2.0	2.0	1080	$1,800	$1.67	24d	1	0.90mi
13487 Barwick Rd Unit B Delray Beach, FL	2.0	1.5	1092	$3,900	$3.57	24d	1	0.95mi
1440 NW 20th Ave #104 Delray Beach, FL	2.0	2.0	1335	$2,650	$1.99	13d	1	1.01mi
210 NW 13th Ave Delray Beach, FL	2.0	1.0	800	$2,200	$2.75	24d	1	1.02mi
250 Congress Park Dr Delray Beach, FL	1.0–2.0	1.0–2.0	972	$2,180	$2.24	3d	6	1.03mi
4477 NW 3rd Dr Delray Beach, FL	2.0	1.5	1109	$2,550	$2.30	24d	1	1.05mi
1441 NW 19th Ter #201 Delray Beach, FL	2.0	2.0	1148	$2,250	$1.96	24d	1	1.06mi
1860 NW 13th St #201 Delray Beach, FL	2.0	2.0	1335	$2,800	$2.10	24d	1	1.09mi
1520 NW 19th Ter #203 Delray Beach, FL	2.0	2.0	1335	$2,200	$1.65	24d	1	1.09mi
1551 NW 20th Ave #102 Delray Beach, FL	2.0	2.0	1148	$1,995	$1.74	24d	1	1.09mi
1560 NW 18th Ave #104 Delray Beach, FL	2.0	2.0	1148	$2,100	$1.83	21d	1	1.11mi
1560 NW 18th Ave #104 Delray Beach, FL	2.0	2.0	1148	$2,100	$1.83	20d	1	1.11mi
1640 NW 19th Ter #103 Delray Beach, FL	2.0	2.0	1148	$1,950	$1.70	21d	1	1.13mi
1640 NW 19th Ter #103 Delray Beach, FL	2.0	2.0	1148	$1,950	$1.70	7d	1	1.13mi

HOA detail condo

• Monthly dues: $512 · $6,144/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-18
   remarks 461-char remark
2. 2026-06-18
   listed $169,000 Active 1 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: $1,907 · $159/mo
• Projected year-2 tax: $1,907 · $159/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: $27,080
• − Mortgage interest: −$9,467
• − Property taxes: −$1,907
• − Insurance: −$845
• − Repairs & maintenance: −$2,166
• − Management: −$2,166
• − HOA: −$6,144
• − Depreciation: −$4,916
• Taxable loss: −$531
• Est. tax savings @ 24.0%: +$128
• After-tax cash flow: $1,990/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

+61.1% since first listed

35 events — show timeline

• 2026-06-18 Listed $169,000 Beaches MLS
• 2024-02-12 Listing Removed — Beaches MLS
• 2023-11-20 Rental Removed $1,800 RENT.
• 2023-11-20 Listed $229,000 Beaches MLS
• 2023-10-24 Price Changed $1,800 RENT.
• 2023-10-24 Listed for Rent — RENT.
• 2023-09-14 Listing Removed — Beaches MLS
• 2023-07-28 Rental Removed — RENT.
• 2023-07-17 Listed $215,000 Beaches MLS
• 2023-04-21 Listing Removed — Beaches MLS
• 2023-02-09 Listed $200,000 Beaches MLS
• 2018-08-03 Listing Removed — Beaches MLS
• 2018-07-09 Listed $95,000 Beaches MLS
• 2018-05-25 Listing Removed — Beaches MLS
• 2017-10-29 Price Changed $100,000 Beaches MLS
• 2017-10-01 Relisted — Beaches MLS
• 2017-09-22 Contingent — Beaches MLS
• 2017-07-18 Price Changed $104,000 Beaches MLS
• 2017-04-13 Price Changed $114,000 Beaches MLS
• 2017-04-12 Listed $100,000 Beaches MLS
• 2017-03-01 Listing Removed — Beaches MLS
• 2016-12-05 Price Changed $96,424 Beaches MLS
• 2016-10-19 Relisted — Beaches MLS
• 2016-10-13 Contingent — Beaches MLS
• 2016-09-21 Listed $98,424 Beaches MLS
• 2015-10-06 Listing Removed — Beaches MLS
• 2015-06-03 Relisted — Beaches MLS
• 2015-04-28 Listing Removed — Beaches MLS
• 2014-12-09 Listed $89,999 Beaches MLS
• 2014-10-14 Listing Removed — Beaches MLS
• 2013-12-02 Listing Removed — Beaches MLS
• 2013-02-15 Listing Removed — Beaches MLS
• 2012-09-26 Listed $65,000 Beaches MLS
• 2007-03-19 Listed $89,000 Beaches MLS
• 2006-11-07 Listed $104,900 Beaches MLS

Property tax history

+6.6%/yr

Latest (2025): $1,907 · +3.8% YoY. Source: county tax records.