24 Abbey Ln #107 · Delray Beach, FL 33446

$199,500

2 bd · 2.0 ba · 1,006 sqft · Condo public records · 23 Days on market

Built 1979 $650/mo HOA · 25% 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 +14.4/30.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• DSCR +4.4/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Amazing oportunity to own this unit located in first floor with beautiful golf view. SELLER CONTRIBUTION REQUEST ABOVE 3% MUST INCLUDE GFE. SELLER ADDENDUMS REQUIRED UPON ACCEPTANCE & ESCROW DEPOSIT WILL BE HELD BY SELLERS TITLE AGENT. TAKE ADVANTAGE OF S ELLERS INCENTIVES. SEE ATTACHMENT FOR OFFER SUBMISSION. THIS IS A HOMESTEPS PROPERTY

Key facts

• Public golf
• Granite tops
• Lake view

Tags

• GRANITE TOPS
• FIRST FLOOR
• LAKE VIEW
• PUBLIC GOLF
• NEAR PUBLIX SHOPPING CENTER
• FITNESS

Property features AI

Finance

• Other: Senior community; Pets not allowed; Community contains about 528 units
• Financial info: Not a land lease community
• HOA & community: Association: ABBEY VILLAGE CONDO ASSN (also Oriole Village Center, HOA); Quarterly association fee; HOA fee covers cable TV, internet, water, sewer, trash, elevator, roof repairs, recreation facilities and pool service, maintenance of grounds and structure, reserve funds; Community amenities include: heated pool, pool, sauna, clubhouse, fitness center, billiard room, shuffleboard court, picnic area, bike storage, storage, community room, library, manager on site, maintenance, street lights, trash chute, parking, internet included

Exterior

• Parking: Assigned and guest parking; Asphalt parking; Approximately 40 open parking spaces (community total); Total parking spaces listed as 99
• Security: Smoke detectors; Security patrol
• Utilities: Public water; Public sewer; Cable connected; Electricity available; Water connected; Sewer available
• Home design: Condominium; One-level unit; Entry at level 1; Faces south
• Construction: CBS construction; Concrete/other roof; Built as part of a 4-story building
• Exterior features: Open patio; Patio; Landscaped grounds; Vinyl fencing; Waterfront access; Private road frontage; Asphalt/paved road surface

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Disposal; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Walk-in closets; Split bedroom layout; Blinds and shutters on windows; Single-hung metal windows
• Laundry & utility: Laundry closet in kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $39 ($468/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.5% 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); Spanish River Community High School (math 64% / reading 74%, grade B, #63 of 667 statewide, top 10%, 2,578 students, 25% FRL) — zoned schools average 35% FRL vs 52% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 64% at this address vs 50% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Palm Beach average implies; a family-tenant draw the district grade alone would hide.
• 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 $3k of equity ($1k loan paydown + $1k 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 ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $24k; list at $200k implies a 731% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% 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 $196,507 (1.5% below list)

Questions for the listing agent

1. Built in 1979 — 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: 1.28% ✓
• Cap rate: 6.53%
• Cash-on-cash: 0.84%
• DSCR: 1.04
• GRM: 6.5

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: -1.0%
• Equity multiple: 0.95×
• Total profit: $-2,663
• Equity at exit: $64,874

10-year hold

• IRR: 2.0%
• Equity multiple: 1.21×
• Total profit: $11,925
• Equity at exit: $83,766

Cash invested: $55,860 (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: 6.5×

Monthly cashflow live

• Estimated rent: $2,555 high
• Mortgage (P&I): −$1,046
• Tax from tax record: −$200 /mo · $2,399/yr
• Insurance: −$83
• HOA: −$650
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $39

Break-even live

Break-even rent $2,505

Max offer price $199,500

Occupancy floor 93%

Sensitivity live

Price	-10% $152	-5% $95	+0% $39	+5% $-17	+10% $-74
Rent	-10% $-163	-5% $-62	+0% $39	+5% $140	+10% $241
Rate	-1.0pp $139	-0.5pp $90	base $39	+0.5pp $-13	+1.0pp $-65

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: $49,875
• Closing costs: $5,985
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23 Abbey Ln #208 Delray Beach, FL	2.0	2.0	925	$1,500	$1.62	4d	1	0.04mi
21 Abbey Ln #107 Delray Beach, FL	2.0	2.0	925	$1,800	$1.95	16d	1	0.06mi
20 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,600	$2.81	25d	1	0.09mi
14624 Three Ponds Trl Delray Beach, FL	3.0	2.0	1411	$3,250	$2.30	18d	1	0.10mi
31 Abbey Ln #207 Delray Beach, FL	2.0	2.0	925	$1,300	$1.41	25d	1	0.11mi
19 Abbey Ln #206 Delray Beach, FL	2.0	2.0	925	$1,750	$1.89	25d	1	0.11mi
14556 Wiley Range Rd Delray Beach, FL	2.0	2.0	1319	$3,000	$2.27	25d	1	0.12mi
14534 Highland Center Way Delray Beach, FL	2.0	2.0	1319	$3,400	$2.58	8d	1	0.12mi
14800 Cumberland Dr Delray Beach, FL	2.0	2.0	1321	$3,948	$2.99	0d	3	0.12mi
32 Abbey Ln #207 Delray Beach, FL	2.0	2.0	925	$2,500	$2.70	25d	1	0.14mi
14 Willowbrook Ln #101 Delray Beach, FL	2.0	2.0	1005	$1,700	$1.69	6d	1	0.18mi
14828 Golden Jax Ln Unit 6-105 Radiance Delray Beach, FL	2.0	2.0	1321	$4,148	$3.14	17d	1	0.18mi
14828 Golden Jax Ln Unit 8103 Delray Beach, FL	2.0	2.0	1321	$3,948	$2.99	0d	1	0.18mi
14828 Golden Jax Ln Unit 8-105 Radiance Delray Beach, FL	2.0	2.0	1321	$3,948	$2.99	16d	1	0.18mi
14509 Sloan Ridge Dr Unit 10-104 Luminosa Delray Beach, FL	3.0	2.0	1328	$3,827	$2.88	25d	1	0.18mi
14671 Bonaire Blvd #505 Delray Beach, FL	1.0	2.0	925	$1,600	$1.73	25d	1	0.20mi
3 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,500	$2.70	25d	1	0.20mi
14747 Cumberland Dr #301 Delray Beach, FL	2.0	2.0	1044	$1,900	$1.82	25d	1	0.21mi
10 Willowbrook Ln #105 Delray Beach, FL	2.0	2.0	1005	$2,100	$2.09	12d	1	0.23mi
14723 Cumberland Dr Unit 404 B Delray Beach, FL	1.0	2.0	912	$1,850	$2.03	25d	1	0.25mi
7076 Huntington Ln #608 Delray Beach, FL	2.0	2.0	1230	$2,600	$2.11	25d	1	0.26mi
6813 Moonlit Dr Delray Beach, FL	2.0	2.0	1148	$2,150	$1.87	25d	1	0.27mi
7192 Huntington Ln #307 Delray Beach, FL	2.0	2.0	1070	$3,500	$3.27	19d	1	0.29mi
6866 Huntington Ln #305 Delray Beach, FL	2.0	2.0	1230	$4,500	$3.66	25d	1	0.32mi
14735 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,350	$2.19	3d	1	0.32mi
7286 Huntington Ln #105 Delray Beach, FL	2.0	2.0	1070	$3,350	$3.13	25d	1	0.35mi
14747 Wildflower Ln Delray Beach, FL	2.0	2.0	1229	$2,475	$2.01	25d	1	0.36mi
14475 Strathmore Ln Delray Beach, FL	2.0	2.0	1230	$2,422	$1.97	25d	2	0.37mi
14307 Bedford Dr #302 Delray Beach, FL	2.0	2.0	990	$2,200	$2.22	25d	1	0.38mi
7260 Kinghurst Dr #205 Delray Beach, FL	2.0	2.0	1230	$2,800	$2.28	19d	1	0.38mi
14896 Bal Moral Ln Delray Beach, FL	2.0	2.0	1040	$2,200	$2.12	25d	1	0.39mi
7310 Ashford Pl Delray Beach, FL	2.0	2.0	1230	$2,700	$2.20	19d	2	0.40mi
7310 Ashford Pl Delray Beach, FL	2.0	2.0	1230	$3,200	$2.60	16d	1	0.40mi
7310 Ashford Pl Delray Beach, FL	2.0	2.0	1230	$3,200	$2.60	8d	1	0.40mi
14832 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,500	$2.33	18d	1	0.40mi
6795 Huntington Ln #406 Delray Beach, FL	2.0	2.0	990	$2,500	$2.53	21d	1	0.41mi
14898 Wedgefield Dr #202 Delray Beach, FL	2.0	2.0	1103	$2,000	$1.81	18d	1	0.43mi
14895 Builtmore Way Delray Beach, FL	2.0	2.0	1103	$1,800	$1.63	25d	1	0.43mi
189 Seville Ter Unit 189 Delray Beach, FL	2.0	2.0	880	$1,900	$2.16	25d	1	0.44mi
6550 Country Wood Way Delray Beach, FL	3.0	2.0	1408	$4,000	$2.84	25d	1	0.45mi

HOA detail condo

• Monthly dues: $650 · $7,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-21
   days on market $199,500 Active 23 DOM
2. 2026-06-18
   days on market $199,500 Active 20 DOM
3. 2026-06-17
   days on market $199,500 Active 19 DOM
4. 2026-06-16
   days on market $199,500 Active 18 DOM
5. 2026-06-15
   days on market $199,500 Active 17 DOM
6. 2026-06-13
   days on market $199,500 Active 15 DOM
7. 2026-06-09
   days on market $199,500 Active 11 DOM
8. 2026-06-08
   days on market $199,500 Active 10 DOM
9. 2026-06-07
   days on market $199,500 Active 9 DOM
10. 2026-06-04
    days on market $199,500 Active 6 DOM
11. 2026-06-03
    days on market $199,500 Active 5 DOM
12. 2026-06-02
    days on market $199,500 Active 4 DOM
13. 2026-06-01
    days on market $199,500 Active 3 DOM
14. 2026-05-31
    days on market $199,500 Active 2 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: $2,399 · $200/mo
• Projected year-2 tax: $2,399 · $200/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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,657
• − Mortgage interest: −$11,175
• − Property taxes: −$2,399
• − Insurance: −$998
• − Repairs & maintenance: −$2,453
• − Management: −$2,453
• − HOA: −$7,800
• − Depreciation: −$5,804
• Taxable loss: −$2,424
• Est. tax savings @ 24.0%: +$582
• After-tax cash flow: $1,049/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

+283.7% since first listed

5 events — show timeline

• 2026-05-29 Listed $199,500 Beaches MLS
• 2011-06-27 Sold (MLS) $24,000 MARMLS
• 2005-08-23 Sold (Public Records) $140,000 Public Records
• 1986-08-01 Sold (Public Records) $47,500 Public Records
• 1983-04-01 Sold (Public Records) $52,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $2,399 · +5.0% YoY. Source: county tax records.