183 Valencia #183 · Delray Beach, FL 33446

$59,900

1 bd · 1.5 ba · 726 sqft · Condo · 7 Days on market

Built 1973 Good condition $687/mo HOA · 42% 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 +28.9/30.0
• 1% rule +10.0/10.0
• DSCR +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
• Condition / age +3.8/5.0
• Rent growth +2.6/5.0

Listing remarks

Enjoy tranquil water views from this charming one bedroom, one and a half bath villa. Priced to sell, this property presents an exceptional opportunity for investors or buyers seeking to customize and add value. The enclosed back patio, complete with windows, provides a bright and inviting space for year round enjoyment. Kings Point is an active adult 55+ community with amazing amenities including a 1200 seat theatre, tennis, pickleball, indoor and outdoor pools, restaurants, gym, clubs, golf course, offsite community bus and more! Conveniently located to the Delray Marketplace, Atlantic Avenue nightlife, shops, restaurants, the beach and highways! Call to schedule your showing today!

Key facts

• Water views
• Conveniently located
• Enclosed back patio

Tags

• WATER VIEWS
• ENCLOSED BACK PATIO
• INDOOR AND OUTDOOR POOLS
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Senior community; Pets not allowed; Community contains many units
• HOA & community: Association: Valencia Area Condominium Assoc; HOA dues paid monthly; HOA covers cable TV, insurance, security, common areas and recreation facilities; Community amenities include clubhouse, fitness center, indoor pool, outdoor pool, sauna, spa/hot tub, tennis courts, pickleball and bocce courts, billiard room, library, cafe/restaurant and courtesy bus

Exterior

• Parking: Assigned parking; Guest parking; Total of 1 parking space
• Security: Gated community
• Utilities: Public water; Public sewer; Electricity connected (Three phase available)
• Home design: Condominium villa, single story; Faces west
• Construction: Stucco construction; Flat and mansard roof
• Exterior features: Covered patio; Patio with glass enclosure; Waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: One bedroom on the main level
• Flooring: Ceramic tile
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Furnished; Tankless water heater; Disposal
• Laundry & utility: In-unit laundry in a dedicated laundry room / inside unit

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $60k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 10.4% 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: Orchard View Elementary School (math 48% / reading 47%, grade D, #1,182 of 2,144 statewide, top 55%, 596 students, 76% 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 50% FRL track the district average.
• Market conditions: Rents flat; 577 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $825 of equity ($414 loan paydown + $411 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 $17k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,900

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: 2.76% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.53%
• DSCR: 1.65
• GRM: 3.0

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: 11.9%
• Equity multiple: 1.57×
• Total profit: $9,555
• Equity at exit: $19,479

10-year hold

• IRR: 12.4%
• Equity multiple: 2.26×
• Total profit: $21,180
• Equity at exit: $25,151

Cash invested: $16,772 (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: 3.0×

Monthly cashflow live

• Estimated rent: $1,651 high
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$687
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $203

Break-even live

Break-even rent $1,394

Max offer price $59,900

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
175 Valencia H Delray Beach, FL	1.0	1.5	726	$1,500	$2.07	8d	1	0.09mi
195 Monaco E Delray Beach, FL	1.0	1.5	728	$1,550	$2.13	24d	1	0.11mi
318 Seville N #318 Delray Beach, FL	1.0	1.5	720	$1,495	$2.08	24d	1	0.14mi
711 Monaco O Delray Beach, FL	1.0	1.5	720	$1,550	$2.15	24d	1	0.16mi
459 Monaco Blvd Unit 459 Delray Beach, FL	1.0	1.5	720	$1,500	$2.08	21d	1	0.16mi
451 Monaco Blvd Unit J Delray Beach, FL	1.0	1.5	720	$1,599	$2.22	24d	1	0.16mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	13d	1	0.17mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	19d	1	0.17mi
482 Monaco Blvd #482 Delray Beach, FL	1.0	1.5	726	$1,400	$1.93	24d	1	0.17mi
322 Seville N Delray Beach, FL	1.0	1.5	720	$1,495	$2.08	24d	1	0.18mi
270 Brittany F Unit F Delray Beach, FL	1.0	1.5	720	$1,600	$2.22	8d	1	0.21mi
159 Brittany Ter Unit 159 Delray Beach, FL	1.0	1.5	720	$1,795	$2.49	17d	1	0.21mi
419 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	24d	1	0.21mi
58 Monaco Blvd Unit 58 Delray Beach, FL	1.0	1.5	720	$1,650	$2.29	24d	1	0.22mi
459 Monaco J #459 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	1d	1	0.22mi
286 Monaco F Delray Beach, FL	1.0	2.0	726	$1,700	$2.34	24d	1	0.22mi
242 Seville K Unit 242 Delray Beach, FL	1.0	1.5	720	$1,380	$1.92	24d	1	0.23mi
102 Waterford D Unit 102 Delray Beach, FL	1.0	1.5	720	$1,900	$2.64	24d	1	0.28mi
11 Brittany a Delray Beach, FL	1.0	1.5	725	$1,500	$2.07	8d	1	0.29mi
679 Saxony Way Delray Beach, FL	1.0	1.5	720	$1,600	$2.22	5d	1	0.30mi
675 Brittany O Delray Beach, FL	1.0	1.5	720	$1,500	$2.08	24d	1	0.31mi
111 Normandy Ln Delray Beach, FL	1.0	1.5	726	$1,450	$2.00	2d	1	0.32mi
43 Waterford B Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	24d	1	0.32mi
154 Seville G Delray Beach, FL	1.0	1.0	720	$1,490	$2.07	15d	1	0.32mi
594 Saxony Trl Unit 594 Delray Beach, FL	1.0	1.5	720	$1,650	$2.29	24d	1	0.33mi
594 Saxony Trl Unit 594 Delray Beach, FL	1.0	1.5	720	$1,550	$2.15	2d	1	0.33mi
23 Saxony a Delray Beach, FL	1.0	1.5	726	$1,300	$1.79	8d	1	0.33mi
662 Saxony N Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	21d	1	0.33mi
123 Saxony C Delray Beach, FL	1.0	1.5	720	$2,500	$3.47	24d	1	0.33mi
370 Saxony H Delray Beach, FL	1.0	1.5	726	$1,500	$2.07	5d	1	0.34mi
686 Brittany O Delray Beach, FL	1.0	1.5	720	$1,600	$2.22	24d	1	0.35mi
99 Saxony C Delray Beach, FL	1.0	1.5	720	$2,500	$3.47	24d	1	0.36mi
126 Seville E Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	19d	1	0.36mi
151 Saxony D Delray Beach, FL	1.0	1.5	726	$1,500	$2.07	12d	1	0.38mi
718 Brittany Park #718 Delray Beach, FL	1.0	1.5	720	$1,795	$2.49	17d	1	0.38mi
211 Saxony Ln #211 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	8d	1	0.39mi
715 Saxony O Delray Beach, FL	1.0	1.5	726	$1,200	$1.65	24d	1	0.42mi
163 Tuscany C Unit C Delray Beach, FL	1.0	1.5	720	$1,300	$1.81	15d	1	0.42mi
522 Capri K Unit K Delray Beach, FL	1.0	1.5	730	$1,350	$1.85	24d	1	1.04mi

HOA detail condo

• Monthly dues: $687 · $8,244/yr
• Likely covers: waterpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-01
   status Pending
2. 2026-04-24
   listed $59,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 6 d/yr ≥107°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,808
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,585
• − Management: −$1,585
• − HOA: −$8,244
• − Depreciation: −$1,743
• Taxable income: $2,099
• Est. tax owed @ 24.0%: −$504
• After-tax cash flow: $1,933/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This charming one-bedroom villa in Kings Point offers a good condition with minor repairs needed. The enclosed back patio and tranquil water views add to its appeal. Updates to the kitchen and bathroom, along with fresh paint and landscaping, can significantly increase its resale and rental value.

Repairs flagged

• Minor kitchen cabinets — Slight wear and tear visible on cabinet doors.
• Minor bathroom fixtures — Some discoloration and wear on sink and bathtub surfaces.
• Minor kitchen appliances — Appliances appear functional but dated and may need updating for resale or rental appeal.

Value-add opportunities

• Both Paint interior walls and trim — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Replace dated kitchen appliances — Modern appliances can attract more buyers and renters.
• Both Update bathroom fixtures — Fresh, updated fixtures can improve the home's overall appeal and functionality.
• Both Landscaping improvements — A well-maintained garden can enhance the home's curb appeal and attract more buyers and renters.
• Both HVAC system maintenance — A clean and efficient HVAC system can improve comfort and energy efficiency, attracting more buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Slight wear and tear visible on cabinet doors.	Minor	$500–3,000
bathroom fixtures · Some discoloration and wear on sink and bathtub surfaces.	Minor	$500–3,000
kitchen appliances · Appliances appear functional but dated and may need updating for resale or rental appeal.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint interior walls and trim — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Replace dated kitchen appliances — Modern appliances can attract more buyers and renters. ↑
• Both Update bathroom fixtures — Fresh, updated fixtures can improve the home's overall appeal and functionality. ↑
• Both Landscaping improvements — A well-maintained garden can enhance the home's curb appeal and attract more buyers and renters. ↑
• Both HVAC system maintenance — A clean and efficient HVAC system can improve comfort and energy efficiency, attracting more buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

2 events — show timeline

• 2026-05-01 Pending — Beaches MLS
• 2026-04-24 Listed $59,900 Beaches MLS