14623 Bonaire Blvd #602 · Delray Beach, FL 33446

$145,000

2 bd · 2.0 ba · 1,060 sqft · Condo public records · 155 Days on market

Built 1979 $765/mo HOA · 28% 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 +25.0/30.0
• 1% rule +10.0/10.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 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

Listing remarks

From the wood-paneled kitchen to appliances that have clearly stood the test of time (and then some), this 2BD/2BTH is serving up vintage charm in all the right ways — and by ''charm, '' we mean great bones, unbeatable location, and a blank canvas for someone ready to roll up their sleeves. Perched six floors above the lake, the views are absolutely breathtaking and worth every step of the renovation journey. The layout is solid, the space is generous, and the potential is undeniable — this is your chance to create your own Delray Beach lifestyle exactly the way you want it. Bring ALL OFFERS! The building sits directly across from the clubhouse and pool, making it easy to enjoy

Key facts

• Wood paneled kitchen
• Community amenities
• $765 HOA

Tags

• WOOD PANELED KITCHEN
• ACROSS FROM CLUBHOUSE
• COMMUNITY AMENITIES
• STEPS FROM FRONT DOOR
• MINUTES FROM ATLANTIC AVE
• DOWNTOWN DELRAY BEACH

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Community association with monthly fee; Monthly association fee of 765; Association covers cable TV, insurance, grounds maintenance, water and common areas; Community amenities include clubhouse, elevators, pool, tennis courts, pickleball courts, shuffleboard court, and on-site manager; Senior community

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; 7-story building; Facing east
• Construction: CBS construction
• Exterior features: Waterfront; Tar/gravel roof

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Walk-in closets; Split bedroom layout; Furnished

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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.
• Market conditions: Rents flat; 577 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 40% 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 $2k of equity ($1k loan paydown + $996 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.
• At projected returns (0.7% appreciation + 0.5% rent growth), your $41k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask is 7738% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 2→6/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 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 1979 — 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: 1.85% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.27%
• DSCR: 1.41
• GRM: 4.5

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: 7.3%
• Equity multiple: 1.36×
• Total profit: $14,447
• Equity at exit: $47,152

10-year hold

• IRR: 9.1%
• Equity multiple: 1.97×
• Total profit: $39,371
• Equity at exit: $60,883

Cash invested: $40,600 (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: 577
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,690 high
• Mortgage (P&I): −$760
• Tax from tax record: −$225 /mo · $2,704/yr
• Insurance: −$60
• HOA: −$765
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $314

Break-even live

Break-even rent $2,293

Max offer price $145,000

Occupancy floor 83%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14671 Bonaire Blvd #505 Delray Beach, FL	1.0	2.0	925	$1,600	$1.73	24d	1	0.06mi
14624 Three Ponds Trl Delray Beach, FL	3.0	2.0	1411	$3,250	$2.30	17d	1	0.15mi
32 Abbey Ln #207 Delray Beach, FL	2.0	2.0	925	$2,500	$2.70	24d	1	0.15mi
31 Abbey Ln #207 Delray Beach, FL	2.0	2.0	925	$1,300	$1.41	24d	1	0.16mi
14475 Strathmore Ln Delray Beach, FL	2.0	2.0	1230	$2,422	$1.97	24d	2	0.18mi
14556 Wiley Range Rd Delray Beach, FL	2.0	2.0	1319	$3,000	$2.27	24d	1	0.18mi
23 Abbey Ln #208 Delray Beach, FL	2.0	2.0	925	$1,500	$1.62	3d	1	0.19mi
21 Abbey Ln #107 Delray Beach, FL	2.0	2.0	925	$1,800	$1.95	15d	1	0.22mi
6866 Huntington Ln #305 Delray Beach, FL	2.0	2.0	1230	$4,500	$3.66	24d	1	0.22mi
14534 Highland Center Way Delray Beach, FL	2.0	2.0	1319	$3,400	$2.58	7d	1	0.23mi
19 Abbey Ln #206 Delray Beach, FL	2.0	2.0	925	$1,750	$1.89	24d	1	0.25mi
20 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,600	$2.81	24d	1	0.25mi
7076 Huntington Ln #608 Delray Beach, FL	2.0	2.0	1230	$2,600	$2.11	24d	1	0.26mi
3 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,500	$2.70	24d	1	0.28mi
14735 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,350	$2.19	2d	1	0.28mi
6550 Country Wood Way Delray Beach, FL	3.0	2.0	1408	$4,000	$2.84	5d	1	0.28mi
6550 Country Wood Way Delray Beach, FL	3.0	2.0	1408	$4,000	$2.84	24d	1	0.28mi
6557 Country Wood Way Delray Beach, FL	3.0	2.0	1346	$4,700	$3.49	24d	1	0.29mi
6795 Huntington Ln #406 Delray Beach, FL	2.0	2.0	990	$2,500	$2.53	20d	1	0.30mi
14800 Cumberland Dr Delray Beach, FL	2.0	2.0	1321	$4,048	$3.06	5d	4	0.31mi
14832 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,500	$2.33	17d	1	0.33mi
14747 Wildflower Ln Delray Beach, FL	2.0	2.0	1229	$2,475	$2.01	24d	1	0.33mi
7192 Huntington Ln #307 Delray Beach, FL	2.0	2.0	1070	$3,500	$3.27	18d	1	0.35mi
14828 Golden Jax Ln Unit 8-105 Radiance Delray Beach, FL	2.0	2.0	1321	$3,948	$2.99	15d	1	0.35mi
14828 Golden Jax Ln Unit 6-105 Radiance Delray Beach, FL	2.0	2.0	1321	$4,148	$3.14	17d	1	0.35mi
14828 Golden Jax Ln Unit 8103 Delray Beach, FL	2.0	2.0	1321	$3,949	$2.99	5d	1	0.35mi
14509 Sloan Ridge Dr Unit 10-104 Luminosa Delray Beach, FL	3.0	2.0	1328	$3,827	$2.88	24d	1	0.35mi
6396 Country Wood Way Delray Beach, FL	2.0	2.0	1364	$3,000	$2.20	24d	1	0.35mi
14 Willowbrook Ln #101 Delray Beach, FL	2.0	2.0	1005	$1,700	$1.69	5d	1	0.36mi
14307 Bedford Dr #302 Delray Beach, FL	2.0	2.0	990	$2,200	$2.22	24d	1	0.36mi
6813 Moonlit Dr Delray Beach, FL	2.0	2.0	1148	$2,150	$1.87	24d	1	0.37mi
6372 Sleepy Willow Way Delray Beach, FL	2.0	2.0	1344	$3,975	$2.96	24d	1	0.37mi
6372 Sleepy Willow Way Delray Beach, FL	2.0	2.0	1344	$3,975	$2.96	15d	1	0.37mi
10 Willowbrook Ln #105 Delray Beach, FL	2.0	2.0	1005	$2,100	$2.09	11d	1	0.37mi
14747 Cumberland Dr #301 Delray Beach, FL	2.0	2.0	1044	$1,900	$1.82	24d	1	0.41mi
14608 Country Side Ln Delray Beach, FL	2.0	2.0	1303	$2,950	$2.26	24d	1	0.44mi
7286 Huntington Ln #105 Delray Beach, FL	2.0	2.0	1070	$3,350	$3.13	24d	1	0.44mi
14723 Cumberland Dr Unit 404 B Delray Beach, FL	1.0	2.0	912	$1,850	$2.03	24d	1	0.45mi
189 Seville Ter Unit 189 Delray Beach, FL	2.0	2.0	880	$1,900	$2.16	24d	1	0.49mi
6234 Pointe Regal Cir Delray Beach, FL	2.0	2.0	1217	$3,899	$3.20	24d	1	0.50mi

HOA detail condo

• Monthly dues: $765 · $9,180/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $145,000 Active 155 DOM
2. 2026-06-17
   days on market $145,000 Active 154 DOM
3. 2026-06-16
   days on market $145,000 Active 153 DOM
4. 2026-06-15
   days on market $145,000 Active 152 DOM
5. 2026-06-13
   days on market $145,000 Active 150 DOM
6. 2026-06-09
   days on market $145,000 Active 146 DOM
7. 2026-06-07
   days on market $145,000 Active 144 DOM
8. 2026-06-04
   days on market $145,000 Active 141 DOM
9. 2026-06-03
   days on market $145,000 Active 140 DOM
10. 2026-06-01
    days on market $145,000 Active 138 DOM
11. 2026-05-31
    days on market $145,000 Active 137 DOM
12. 2026-04-09
    listed $1,850
13. 2026-04-09
    historical $1,850
14. 2026-02-13
    listed $1,850
15. 2026-02-13
    historical $1,850
16. 2026-01-15
    listed $1,850
17. 2026-01-14
    listed $145,000 Active
18. 2023-07-05
    soldstatus $150,000
19. 1999-01-05
    soldstatus $35,000
20. 1987-04-01
    soldstatus $47,500

ⓘ 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: $2,704 · $225/mo
• Projected year-2 tax: $2,704 · $225/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 2 d/yr ≥107°F today · 6 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: $32,277
• − Mortgage interest: −$8,122
• − Property taxes: −$2,704
• − Insurance: −$725
• − Repairs & maintenance: −$2,582
• − Management: −$2,582
• − HOA: −$9,180
• − Depreciation: −$4,218
• Taxable income: $2,163
• Est. tax owed @ 24.0%: −$519
• After-tax cash flow: $3,246/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

-96.1% since first listed

9 events — show timeline

• 2026-04-09 Listed for Rent $1,850 RMLSFL
• 2026-04-09 Rental Removed $1,850 GFLMLS
• 2026-02-13 Listed for Rent $1,850 GFLMLS
• 2026-02-13 Rental Removed $1,850 RMLSFL
• 2026-01-15 Listed for Rent $1,850 RMLSFL
• 2026-01-14 Listed $145,000 Beaches MLS
• 2023-07-05 Sold (Public Records) $150,000 Public Records
• 1999-01-05 Sold (Public Records) $35,000 Public Records
• 1987-04-01 Sold (Public Records) $47,500 Public Records

Property tax history

+7.8%/yr

Latest (2025): $2,704 · -2.7% YoY. Source: county tax records.