14375 Strathmore Ln #303 · Delray Beach, FL 33446

$219,000

2 bd · 2.0 ba · 1,070 sqft · Condo public records · 73 Days on market

Built 1981 $620/mo HOA · 22% 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 +18.1/30.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• Appreciation +5.3/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Key facts

• $620 HOA
• Community pool
• Built 1981

Property features AI

Finance

• HOA & community: Association amenities include billiard room, clubhouse, fitness center, jogging path, pool, and pickleball courts; HOA fees paid quarterly; HOA covers grounds maintenance, water, and sewer; Senior community; Pets not allowed

Exterior

• Parking: Assigned parking; Guest parking
• Security: Security guard; Smoke detectors
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; 4-story building; Accessible elevator installed; Faces south; Resale condition
• Construction: CBS construction
• Exterior features: Waterfront property; Other roof type

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile; Wood
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Unfurnished
• Laundry & utility: Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $219k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $219k).
• Recommended offer: $206k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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: Hagen Road Elementary School (math 55% / reading 63%, grade B-, #722 of 2,144 statewide, top 34%, 773 students, 46% FRL); Carver Middle School (math 22% / reading 34%, grade F, #486 of 571 statewide, top 86%, 732 students, 73% 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 48% FRL track the district average.
• Market conditions: Rents flat; 584 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); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 43% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($2k loan paydown + $2k 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.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 4y ago; this cycle's ask is 7721% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.31% ✓
• Cap rate: 7.34%
• Cash-on-cash: 3.73%
• DSCR: 1.17
• GRM: 6.4

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: 2.1%
• Equity multiple: 1.10×
• Total profit: $6,268
• Equity at exit: $71,215

10-year hold

• IRR: 4.8%
• Equity multiple: 1.53×
• Total profit: $32,329
• Equity at exit: $91,954

Cash invested: $61,320 (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 33446

• Home prices YoY: 0.3%
• Rents YoY: 0.5%
• Active inventory: 584
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,874 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$220 /mo · $2,639/yr
• Insurance: −$91
• HOA: −$620
• Vacancy / Maint / Mgmt: −$603
• Net cashflow: $191

Break-even live

Break-even rent $2,632

Max offer price $219,000

Occupancy floor 88%

Sensitivity live

Price	-10% $315	-5% $253	+0% $191	+5% $129	+10% $67
Rent	-10% $-36	-5% $77	+0% $191	+5% $304	+10% $418
Rate	-1.0pp $301	-0.5pp $246	base $191	+0.5pp $134	+1.0pp $76

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6866 Huntington Ln #305 Delray Beach, FL	2.0	2.0	1230	$4,500	$3.66	26d	1	0.05mi
6795 Huntington Ln #406 Delray Beach, FL	2.0	2.0	990	$2,500	$2.53	22d	1	0.09mi
14475 Strathmore Ln Delray Beach, FL	2.0	2.0	1230	$2,422	$1.97	26d	2	0.18mi
7076 Huntington Ln #608 Delray Beach, FL	2.0	2.0	1230	$2,600	$2.11	26d	1	0.18mi
14307 Bedford Dr #302 Delray Beach, FL	2.0	2.0	990	$2,200	$2.22	26d	1	0.22mi
14624 Three Ponds Trl Delray Beach, FL	3.0	2.0	1411	$3,250	$2.30	19d	1	0.23mi
14556 Wiley Range Rd Delray Beach, FL	2.0	2.0	1319	$3,000	$2.27	26d	1	0.24mi
14671 Bonaire Blvd #505 Delray Beach, FL	1.0	2.0	925	$1,600	$1.73	26d	1	0.27mi
14534 Highland Center Way Delray Beach, FL	2.0	2.0	1319	$3,400	$2.58	9d	1	0.28mi
7192 Huntington Ln #307 Delray Beach, FL	2.0	2.0	1070	$3,500	$3.27	20d	1	0.28mi
31 Abbey Ln #207 Delray Beach, FL	2.0	2.0	925	$1,300	$1.41	26d	1	0.35mi
32 Abbey Ln #207 Delray Beach, FL	2.0	2.0	925	$2,500	$2.70	26d	1	0.35mi
23 Abbey Ln #208 Delray Beach, FL	2.0	2.0	925	$1,500	$1.62	4d	1	0.35mi
21 Abbey Ln #107 Delray Beach, FL	2.0	2.0	925	$1,800	$1.95	16d	1	0.38mi
7286 Huntington Ln #105 Delray Beach, FL	2.0	2.0	1070	$3,350	$3.13	26d	1	0.39mi
14509 Sloan Ridge Dr Unit 10-104 Luminosa Delray Beach, FL	3.0	2.0	1328	$3,827	$2.88	26d	1	0.40mi
14828 Golden Jax Ln Unit 8-105 Radiance Delray Beach, FL	2.0	2.0	1321	$3,948	$2.99	16d	1	0.40mi
14828 Golden Jax Ln Unit 8103 Delray Beach, FL	2.0	2.0	1321	$3,948	$2.99	0d	1	0.40mi
14828 Golden Jax Ln Unit 6-105 Radiance Delray Beach, FL	2.0	2.0	1321	$4,148	$3.14	18d	1	0.40mi
6557 Country Wood Way Delray Beach, FL	3.0	2.0	1346	$4,700	$3.49	26d	1	0.40mi
6550 Country Wood Way Delray Beach, FL	3.0	2.0	1408	$4,000	$2.84	26d	1	0.41mi
6550 Country Wood Way Delray Beach, FL	3.0	2.0	1408	$4,000	$2.84	6d	1	0.41mi
14800 Cumberland Dr Delray Beach, FL	2.0–3.0	2.0	1324	$3,827	$2.89	0d	4	0.41mi
20 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,600	$2.81	26d	1	0.41mi
19 Abbey Ln #206 Delray Beach, FL	2.0	2.0	925	$1,750	$1.89	26d	1	0.42mi
6372 Sleepy Willow Way Delray Beach, FL	2.0	2.0	1344	$3,975	$2.96	26d	1	0.45mi
6372 Sleepy Willow Way Delray Beach, FL	2.0	2.0	1344	$3,975	$2.96	16d	1	0.45mi
6396 Country Wood Way Delray Beach, FL	2.0	2.0	1364	$3,000	$2.20	26d	1	0.46mi
3 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,500	$2.70	26d	1	0.48mi
14735 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,350	$2.19	3d	1	0.49mi
6234 Pointe Regal Cir Delray Beach, FL	2.0	2.0	1217	$3,899	$3.20	26d	1	0.49mi
14608 Country Side Ln Delray Beach, FL	2.0	2.0	1303	$2,950	$2.26	26d	1	0.49mi
14 Willowbrook Ln #101 Delray Beach, FL	2.0	2.0	1005	$1,700	$1.69	7d	1	0.51mi
14747 Cumberland Dr #301 Delray Beach, FL	2.0	2.0	1044	$1,900	$1.82	26d	1	0.52mi
14832 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,500	$2.33	19d	1	0.52mi
14747 Wildflower Ln Delray Beach, FL	2.0	2.0	1229	$2,475	$2.01	26d	1	0.54mi
7310 Ashford Pl Delray Beach, FL	2.0	2.0	1230	$3,200	$2.60	9d	1	0.55mi
7310 Ashford Pl Delray Beach, FL	2.0	2.0	1230	$3,200	$2.60	17d	1	0.55mi
7310 Ashford Pl Delray Beach, FL	2.0	2.0	1230	$2,700	$2.20	20d	2	0.55mi
10 Willowbrook Ln #105 Delray Beach, FL	2.0	2.0	1005	$2,100	$2.09	12d	1	0.55mi

HOA detail condo

• Monthly dues: $620 · $7,440/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-21
   days on market $219,000 Active 73 DOM
2. 2026-06-18
   days on market $219,000 Active 70 DOM
3. 2026-06-17
   price $219,000 Active 69 DOM
4. 2026-06-17
   days on market $229,000 Active 69 DOM
5. 2026-06-16
   days on market $229,000 Active 68 DOM
6. 2026-06-15
   days on market $229,000 Active 67 DOM
7. 2026-06-13
   days on market $229,000 Active 65 DOM
8. 2026-06-09
   days on market $229,000 Active 61 DOM
9. 2026-06-08
   days on market $229,000 Active 60 DOM
10. 2026-06-07
    days on market $229,000 Active 59 DOM
11. 2026-06-04
    days on market $229,000 Active 56 DOM
12. 2026-06-03
    days on market $229,000 Active 55 DOM
13. 2026-06-02
    days on market $229,000 Active 54 DOM
14. 2026-06-01
    days on market $229,000 Active 53 DOM
15. 2026-05-31
    days on market $229,000 Active 52 DOM
16. 2026-05-08
    price $229,000
17. 2026-04-09
    listed $2,800
18. 2026-04-09
    historical $2,800
19. 2026-04-09
    listed $235,000 Active
20. 2026-03-17
    historical
21. 2026-01-12
    price $249,000
22. 2025-11-24
    price $259,000
23. 2025-10-29
    listed $2,800
24. 2025-09-26
    listed $270,000 Active
25. 2025-09-19
    historical
26. 2025-08-15
    listed $250,000 Active
27. 2025-08-14
    historical
28. 2025-06-03
    listed $275,000
29. 2024-11-22
    historical
30. 2024-11-08
    price $195,000
31. 2024-10-21
    price $220,000
32. 2024-09-13
    listed $250,000 Active
33. 2024-07-24
    historical
34. 2024-07-01
    status Active
35. 2024-06-19
    price $225,000
36. 2024-05-10
    price $270,000
37. 2024-05-02
    price $240,000
38. 2024-05-01
    price $242,500
39. 2024-04-28
    price $243,000
40. 2024-04-26
    price $243,500
41. 2024-04-25
    price $243,900
42. 2024-04-22
    price $244,500
43. 2024-04-19
    price $246,000
44. 2024-04-17
    price $246,500
45. 2024-04-15
    price $247,500
46. 2024-04-14
    price $248,250
47. 2024-04-12
    price $248,500
48. 2024-04-10
    price $248,750
49. 2024-04-03
    price $249,000
50. 2024-03-29
    price $260,000

ⓘ 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: $2,639 · $220/mo
• Projected year-2 tax: $2,639 · $220/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 · 25 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: $34,485
• − Mortgage interest: −$12,267
• − Property taxes: −$2,639
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,759
• − Management: −$2,759
• − HOA: −$7,440
• − Depreciation: −$6,371
• Taxable loss: −$845
• Est. tax savings @ 24.0%: +$203
• After-tax cash flow: $2,490/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

+30.9% since first listed

52 events — show timeline

• 2026-05-08 Price Changed $229,000 Beaches MLS
• 2026-04-09 Listed for Rent $2,800 RMLSFL
• 2026-04-09 Rental Removed $2,800 GFLMLS
• 2026-04-09 Listed $235,000 Beaches MLS
• 2026-03-17 Listing Removed — Beaches MLS
• 2026-01-12 Price Changed $249,000 Beaches MLS
• 2025-11-24 Price Changed $259,000 Beaches MLS
• 2025-10-29 Listed for Rent $2,800 GFLMLS
• 2025-09-26 Listed $270,000 Beaches MLS
• 2025-09-19 Listing Removed — Beaches MLS
• 2025-08-15 Listed $250,000 Beaches MLS
• 2025-08-14 Listing Removed — Beaches MLS
• 2025-06-03 Listed $275,000 Beaches MLS
• 2024-11-22 Listing Removed — Beaches MLS
• 2024-11-08 Price Changed $195,000 Beaches MLS
• 2024-10-21 Price Changed $220,000 Beaches MLS
• 2024-09-13 Listed $250,000 Beaches MLS
• 2024-07-24 Listing Removed — MARMLS
• 2024-07-01 Relisted — MARMLS
• 2024-06-19 Price Changed $225,000 MARMLS
• 2024-05-10 Price Changed $270,000 MARMLS
• 2024-05-02 Price Changed $240,000 MARMLS
• 2024-05-01 Price Changed $242,500 MARMLS
• 2024-04-28 Price Changed $243,000 MARMLS
• 2024-04-26 Price Changed $243,500 MARMLS
• 2024-04-25 Price Changed $243,900 MARMLS
• 2024-04-22 Price Changed $244,500 MARMLS
• 2024-04-19 Price Changed $246,000 MARMLS
• 2024-04-17 Price Changed $246,500 MARMLS
• 2024-04-15 Price Changed $247,500 MARMLS
• 2024-04-14 Price Changed $248,250 MARMLS
• 2024-04-12 Price Changed $248,500 MARMLS
• 2024-04-10 Price Changed $248,750 MARMLS
• 2024-04-03 Price Changed $249,000 MARMLS
• 2024-03-29 Price Changed $260,000 MARMLS
• 2024-03-14 Listed $265,000 MARMLS
• 2024-02-08 Listing Removed — Beaches MLS
• 2024-01-27 Price Changed $269,000 Beaches MLS
• 2023-12-27 Listed $275,000 Beaches MLS
• 2023-12-02 Listing Removed — Beaches MLS
• 2023-11-03 Price Changed $277,000 Beaches MLS
• 2023-08-15 Price Changed $279,000 Beaches MLS
• 2023-06-28 Price Changed $289,000 Beaches MLS
• 2023-06-16 Listed $295,000 Beaches MLS
• 2023-06-12 Coming Soon — Beaches MLS
• 2023-04-03 Sold (Public Records) $200,000 Public Records
• 2023-03-28 Sold (MLS) $200,000 Beaches MLS
• 2023-01-26 Pending — Beaches MLS
• 2023-01-09 Price Changed $249,000 Beaches MLS
• 2022-12-02 Price Changed $279,000 Beaches MLS
• 2022-11-07 Listed $295,000 Beaches MLS
• 2006-03-31 Sold (Public Records) $175,000 Public Records

Property tax history

+9.1%/yr

Latest (2025): $2,639 · -20.8% YoY. Source: county tax records.