188 Piedmont D #188 · Delray Beach, FL 33484

$100,000

2 bd · 2.0 ba · 910 sqft · Condo · 58 Days on market

Built 1980 $821/mo HOA · 41% of rent ↓ 26% since listing

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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 +16.1/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GARDEN VIEW, 2ND FLOOR - ENJOY VERY ACTIVE LIFESTYLE - BUS SERVICE - ''SOLD ''''AS IS'''' - NEAR ELEVATOR. '' SQUARE FOOTAGE DETERMINED BY TAX RECORDS - NOT GUARANTEED AS TO ACCURACY.

Key facts

• $821 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Senior community; Pets not allowed; Community contains many units (community unit count listed)
• HOA & community: Has association; Monthly HOA fee; Association amenities include clubhouse, elevators, fitness center, golf course, game room, parking, pool, tennis courts, community room, courtesy bus, heated pool, maintained community, pickleball courts, sidewalks, street lights, security, maintenance, and recreation facilities; HOA covers insurance, grounds maintenance, pest control, security, sewer, trash, water, common areas, elevator, golf, roof repairs, recreation facility, and pool service

Exterior

• Parking: 1 parking space; No carport
• Security: Gated community with guard; Community security included in association
• Utilities: Public water; Public sewer; Cable available; Electricity available
• Home design: Condominium; Resale property; 2-story building; Faces east; Building D
• Construction: Concrete block with stucco construction; Built with assessor-recorded living area of 910; Total building area 1,044
• Exterior features: Waterfront community (no direct waterfront on the unit); Gated community with guard; Exterior wheelchair lift; Other roof type

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Walk-in closets; Stacked bedroom layout; Dome kitchen; Upstairs living area; Furnished
• Laundry & utility: Laundry closet inside the unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $51 ($613/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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.
• 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 rising fast (+4.3%/yr); 546 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); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 38% of the median local income ($62k/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 $691 of loan paydown is wiped out by about $3k 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

• It's been on market 58 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $21k; list at $100k implies a 376% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 41% 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 $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.98% ✓
• Cap rate: 6.91%
• Cash-on-cash: 2.19%
• DSCR: 1.10
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.28% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.65×
• Total profit: $-9,837
• Equity at exit: $14,910

10-year hold

• IRR: 3.8%
• Equity multiple: 1.31×
• Total profit: $8,663
• Equity at exit: $8,646

Cash invested: $28,000 (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 33484

• Rents YoY: 4.3%
• Active inventory: 546
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,979 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$821
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $51

Break-even live

Break-even rent $1,914

Max offer price $100,000

Occupancy floor 92%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
341 Piedmont H Unit H Delray Beach, FL	2.0	2.0	907	$1,650	$1.82	14d	1	0.01mi
224 Piedmont F #224 Delray Beach, FL	1.0	1.5	760	$1,200	$1.58	24d	1	0.01mi
499 Piedmont K Delray Beach, FL	2.0	2.0	907	$2,800	$3.09	24d	1	0.01mi
322 Piedmont G Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	14d	1	0.01mi
322 Piedmont G Delray Beach, FL	2.0	2.0	910	$1,800	$1.98	7d	1	0.01mi
344 Piedmont Trl Delray Beach, FL	2.0	2.0	910	$1,600	$1.76	24d	1	0.04mi
523 Piedmont E Unit 523 Delray Beach, FL	2.0	2.0	1044	$1,750	$1.68	24d	1	0.05mi
370 Piedmont Trl Unit 370 Delray Beach, FL	1.0	2.0	760	$1,700	$2.24	24d	1	0.05mi
370 Piedmont H Delray Beach, FL	1.0	1.5	760	$1,600	$2.11	24d	1	0.06mi
368 Piedmont H Unit H Delray Beach, FL	2.0	2.0	910	$1,850	$2.03	24d	1	0.06mi
176 Piedmont D Delray Beach, FL	2.0	2.0	910	$1,600	$1.76	24d	1	0.07mi
514 Piedmont K Delray Beach, FL	1.0	1.5	792	$1,690	$2.13	24d	1	0.09mi
514 Piedmont K Unit k Delray Beach, FL	1.0	1.5	792	$1,690	$2.13	3d	1	0.09mi
492 Piedmont Ct Delray Beach, FL	2.0	2.0	1040	$2,200	$2.12	24d	1	0.09mi
137 Piedmont Way Unit 137 Delray Beach, FL	2.0	2.0	1040	$2,300	$2.21	11d	1	0.10mi
166 Piedmont Way Delray Beach, FL	2.0	2.0	910	$1,600	$1.76	24d	1	0.10mi
7 Piedmont a Delray Beach, FL	2.0	2.0	910	$2,200	$2.42	3d	1	0.11mi
29 Flanders a Delray Beach, FL	2.0	2.0	760	$1,900	$2.50	24d	1	0.19mi
719 Flanders O Delray Beach, FL	2.0	2.0	920	$1,800	$1.96	24d	1	0.21mi
278 Flanders Dr Unit 278 Delray Beach, FL	1.0	1.5	828	$1,290	$1.56	24d	1	0.21mi
173 Flanders Dr Unit 173 Delray Beach, FL	2.0	2.0	920	$2,400	$2.61	24d	1	0.21mi
457 Flanders Dr Unit 457 Delray Beach, FL	1.0	1.5	760	$2,800	$3.68	24d	1	0.21mi
697 Flanders O Delray Beach, FL	1.0	1.5	760	$1,400	$1.84	2d	1	0.21mi
177 Flanders Dr Unit 177 Delray Beach, FL	2.0	2.0	920	$1,600	$1.74	24d	1	0.22mi
825 Normandy R Delray Beach, FL	2.0	2.0	905	$3,350	$3.70	17d	1	0.22mi
729 Normandy P Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	24d	1	0.22mi
708 Normandy O Delray Beach, FL	2.0	2.0	907	$3,000	$3.31	24d	1	0.22mi
900 Normandy S Delray Beach, FL	2.0	2.0	907	$1,500	$1.65	24d	1	0.22mi
70 Normandy B Delray Beach, FL	2.0	2.0	907	$1,695	$1.87	24d	1	0.22mi
122 Normandy C Delray Beach, FL	2.0	2.0	907	$1,450	$1.60	5d	1	0.22mi
816 Normandy Q Delray Beach, FL	1.0	1.5	760	$1,475	$1.94	3d	1	0.22mi
705 Normandy Ln Unit 705 Delray Beach, FL	2.0	2.0	907	$2,600	$2.87	24d	1	0.22mi
864 Normandy Ln Unit 864 Delray Beach, FL	1.0	1.5	760	$1,750	$2.30	24d	1	0.22mi
185 Normandy D Delray Beach, FL	1.0	1.5	760	$1,499	$1.97	14d	1	0.22mi
226 Normandy E Delray Beach, FL	1.0	1.5	760	$1,200	$1.58	24d	1	0.22mi
137 Normandy Ln Unit 137 Delray Beach, FL	2.0	2.0	906	$1,895	$2.09	24d	1	0.22mi
394 Normandy I Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	24d	1	0.22mi
122 Normandy C Delray Beach, FL	2.0	2.0	907	$1,500	$1.65	22d	1	0.22mi
122 Normandy C Delray Beach, FL	2.0	2.0	907	$1,450	$1.60	12d	1	0.22mi
586 Normandy Ln #586 Delray Beach, FL	2.0	2.0	907	$1,750	$1.93	24d	1	0.22mi

HOA detail condo

• Monthly dues: $821 · $9,852/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $100,000 Active 58 DOM
2. 2026-06-17
   days on market $100,000 Active 57 DOM
3. 2026-06-16
   days on market $100,000 Active 56 DOM
4. 2026-06-15
   days on market $100,000 Active 55 DOM
5. 2026-06-13
   days on market $100,000 Active 53 DOM
6. 2026-06-09
   days on market $100,000 Active 49 DOM
7. 2026-06-08
   days on market $100,000 Active 48 DOM
8. 2026-06-07
   days on market $100,000 Active 47 DOM
9. 2026-06-04
   days on market $100,000 Active 44 DOM
10. 2026-06-03
    days on market $100,000 Active 43 DOM
11. 2026-06-02
    days on market $100,000 Active 42 DOM
12. 2026-06-01
    days on market $100,000 Active 41 DOM
13. 2026-05-31
    days on market $100,000 Active 40 DOM
14. 2026-05-25
    price $100,000
15. 2026-04-21
    listed $110,000 Active
16. 2014-10-20
    historical 183-char remark

    Show marketing remark (183 chars)

    GARDEN VIEW, 2ND FLOOR - ENJOY VERY ACTIVE LIFESTYLE - BUS SERVICE - ''SOLD ''''AS IS'''' - NEAR ELEVATOR. '' SQUARE FOOTAGE DETERMINED BY TAX RECORDS - NOT GUARANTEED AS TO ACCURACY.

17. 2010-10-29
    soldstatus $21,000 460-char remark

    Show marketing remark (460 chars)

    NOT ALL BUILDINGS IN KINGS POINT ARE TRUE CBS CONSTRUCTION - THIS ONE IS! THIS BUILDING ALSO HAS AN ELECTRIC LIFT. NO WAIT PERIOD TO LEASE IN THIS BUILDING! BROWARD FACTORY HOME MAINTENANCE PROGRAM. GREAT VIEW FROM BALCONY WITH CROSS BREEZES! OWNER IS SELLING THIS UNIT FURNISHED. NEW BLINDS AT DINING AREA + KITCHEN WINDOWS. BALCONY HAS NEW COPPER COLOR INDOOR-OUTDOOR CARPET + MATCHING ROLL DOWN BLINDS * * * * * * * * * * QUICK CLOSING PREFERRED!

18. 2010-09-29
    historical 460-char remark

    Show marketing remark (460 chars)

    NOT ALL BUILDINGS IN KINGS POINT ARE TRUE CBS CONSTRUCTION - THIS ONE IS! THIS BUILDING ALSO HAS AN ELECTRIC LIFT. NO WAIT PERIOD TO LEASE IN THIS BUILDING! BROWARD FACTORY HOME MAINTENANCE PROGRAM. GREAT VIEW FROM BALCONY WITH CROSS BREEZES! OWNER IS SELLING THIS UNIT FURNISHED. NEW BLINDS AT DINING AREA + KITCHEN WINDOWS. BALCONY HAS NEW COPPER COLOR INDOOR-OUTDOOR CARPET + MATCHING ROLL DOWN BLINDS * * * * * * * * * * QUICK CLOSING PREFERRED!

19. 2010-04-12
    listed $24,500 460-char remark

    Show marketing remark (460 chars)

    NOT ALL BUILDINGS IN KINGS POINT ARE TRUE CBS CONSTRUCTION - THIS ONE IS! THIS BUILDING ALSO HAS AN ELECTRIC LIFT. NO WAIT PERIOD TO LEASE IN THIS BUILDING! BROWARD FACTORY HOME MAINTENANCE PROGRAM. GREAT VIEW FROM BALCONY WITH CROSS BREEZES! OWNER IS SELLING THIS UNIT FURNISHED. NEW BLINDS AT DINING AREA + KITCHEN WINDOWS. BALCONY HAS NEW COPPER COLOR INDOOR-OUTDOOR CARPET + MATCHING ROLL DOWN BLINDS * * * * * * * * * * QUICK CLOSING PREFERRED!

20. 2005-09-06
    listed $134,900 183-char remark

    Show marketing remark (183 chars)

    GARDEN VIEW, 2ND FLOOR - ENJOY VERY ACTIVE LIFESTYLE - BUS SERVICE - ''SOLD ''''AS IS'''' - NEAR ELEVATOR. '' SQUARE FOOTAGE DETERMINED BY TAX RECORDS - NOT GUARANTEED AS TO ACCURACY.

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,744
• − Mortgage interest: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$1,900
• − Management: −$1,900
• − HOA: −$9,852
• − Depreciation: −$2,909
• Taxable loss: −$418
• Est. tax savings @ 24.0%: +$100
• After-tax cash flow: $713/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): 26,208
• Household income: $62,151
• Rent vs Own: 19.0% rent · 81.0% own
• Severe rent burden: 991.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 10% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Scotch-Irish 7% Romanian 6% Italian 2%
• Foreign-born: 23% · Canada, Jamaica, China
• Languages at home: 76% English-only · Spanish 13% Russian/Polish/Slavic 3% French/Haitian/Cajun 3%

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: ▼ -232.73%
• Current HPI: 254.5016
• Rent YoY: ▲ 4.28%
• 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

-25.9% since first listed

7 events — show timeline

• 2026-05-25 Price Changed $100,000 Beaches MLS
• 2026-04-21 Listed $110,000 Beaches MLS
• 2014-10-20 Listing Removed — Beaches MLS
• 2010-10-29 Sold (MLS) $21,000 Beaches MLS
• 2010-09-29 Listing Removed — Beaches MLS
• 2010-04-12 Listed $24,500 Beaches MLS
• 2005-09-06 Listed $134,900 Beaches MLS