5790 Wanda Ln · Delray Beach, FL 33484

$199,000

2 bd · 2.0 ba · 1,296 sqft · SingleFamily public records · 17 Days on market

Built 1981 2,810 sqft lot Est $264k · 25% under $250/mo HOA · 9% 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 +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +8.7/10.0
• 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

While this unit needs much interior upgrading the association has just this year installed a new roof and just a few years ago a new Air Conditioning system was install. The owner has priced this unit to allow the new owners adequate funds to "restore" it to the new owners taste. Photos show rug flooring - the rugs have been replaced by porcelain tile throughout the unit. No rentals allowed first 2 years.

Key facts

• New roof
• 2,810 sq ft lot
• 2 parking spots

Tags

• NEW ROOF
• NEW AIR CONDITIONING SYSTEM
• PORCELAIN TILE FLOORING

Property features AI

Finance

• HOA & community: Community association with monthly fee ($250) including cable TV, grounds maintenance, pest control, trash, common areas and recreation facility; Community amenities: Clubhouse, fitness center, pool, community room, street lights; Pets allowed (size limits and possible restrictions); Senior community; 186 units in the community

Exterior

• Parking: Concrete driveway with 2 open parking spaces (2 parking total)
• Security: Security patrol
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Electricity connected
• Home design: Villa; Single-story; Resale; Faces north
• Construction: Concrete/CBS construction; Shingle composition roof with wood truss/rafter
• Exterior features: Open patio; Patio

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Bedroom layout is stacked; Unfurnished
• Laundry & utility: Laundry closet inside; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $196k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% 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: Banyan Creek Elementary School (math 62% / reading 64%, grade B, #582 of 2,144 statewide, top 28%, 844 students, 51% FRL); Atlantic High School (math 28% / reading 52%, grade F, #296 of 667 statewide, top 45%, 1,889 students, 59% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: Rents rising fast (+4.3%/yr); 541 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).
• At $2,718/mo this rent would consume 52% of the median local household income ($62k/yr) (locally 991% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $52k; list at $199k implies a 283% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $196,015 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.37% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.22%
• DSCR: 1.50
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $264,384
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14615 Candy Way	0.15mi	2/2.0	1,200 (-7%)	14mo	$245,000	$204	69
14589 Candy Way	0.18mi	2/2.0	1,200 (-7%)	20mo	$230,000	$192	63

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 2.1%
• Equity multiple: 1.08×
• Total profit: $4,671
• Equity at exit: $29,672

10-year hold

• IRR: 13.2%
• Equity multiple: 2.12×
• Total profit: $62,514
• Equity at exit: $17,206

Cash invested: $55,720 (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: 541
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,718 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$250 /mo · $2,997/yr
• Insurance: −$83
• HOA: −$250
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $521

Break-even live

Break-even rent $2,059

Max offer price $199,000

Occupancy floor 76%

Sensitivity live

Price	-10% $634	-5% $577	+0% $521	+5% $465	+10% $408
Rent	-10% $306	-5% $414	+0% $521	+5% $628	+10% $736
Rate	-1.0pp $621	-0.5pp $572	base $521	+0.5pp $469	+1.0pp $417

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5600 Atlantic Ave Delray Beach, FL	1.0–3.0	1.0–3.0	1147	$2,997	$2.61	0d	31	0.10mi
14696 Lucy Dr #14696 Delray Beach, FL	2.0	2.0	1200	$2,200	$1.83	8d	1	0.10mi
5884 Morningstar Cir #306 Delray Beach, FL	2.0	2.0	1113	$2,200	$1.98	25d	1	0.14mi
5910 Morningstar Cir #202 Delray Beach, FL	2.0	2.0	1120	$2,200	$1.96	25d	1	0.15mi
14606 Lucy Dr Delray Beach, FL	2.0	2.0	1200	$1,850	$1.54	25d	1	0.19mi
14716 Canalview Dr Unit D Delray Beach, FL	2.0	2.0	1186	$3,500	$2.95	13d	1	0.35mi
14464 Campanelli Dr Delray Beach, FL	2.0	2.0	1296	$2,950	$2.28	25d	1	0.36mi
15469 Lakes of Delray Blvd #102 Delray Beach, FL	2.0	2.0	976	$3,000	$3.07	25d	1	0.37mi
15449 Lakes of Delray Blvd #207 Delray Beach, FL	2.0	2.0	976	$2,950	$3.02	25d	1	0.37mi
14425 Amapola Way Delray Beach, FL	2.0	2.0	1406	$2,800	$1.99	6d	1	0.40mi
15072 Ashland Pl Delray Beach, FL	2.0	2.0	1000	$2,048	$2.05	0d	2	0.44mi
15072 Ashland Pl #132 Delray Beach, FL	2.0	2.0	1100	$2,100	$1.91	20d	1	0.44mi
6096 Kings Gate Cir Delray Beach, FL	2.0	2.0	1311	$2,500	$1.91	25d	1	0.46mi
15364 Lakes of Delray Blvd #45 Delray Beach, FL	2.0	2.0	1160	$2,000	$1.72	15d	1	0.49mi
14484 Canalview Dr Unit C Delray Beach, FL	1.0	2.0	1068	$1,700	$1.59	25d	1	0.49mi
15090 Ashland Pl Delray Beach, FL	2.0	2.0	900	$2,300	$2.56	0d	1	0.50mi
15355 Lakes of Delray Blvd #309 Delray Beach, FL	2.0	2.0	1362	$2,800	$2.06	19d	1	0.51mi
15109 Ashland Dr #323 Delray Beach, FL	2.0	2.0	998	$3,500	$3.51	25d	1	0.53mi
15108 Ashland Dr #215 Delray Beach, FL	2.0	2.0	900	$2,000	$2.22	25d	1	0.53mi
14608 Country Side Ln Delray Beach, FL	2.0	2.0	1303	$2,950	$2.26	25d	1	0.53mi
6108 Petunia Rd Delray Beach, FL	2.0	2.0	1532	$4,500	$2.94	25d	1	0.53mi
6234 Pointe Regal Cir Delray Beach, FL	2.0	2.0	1217	$3,899	$3.20	25d	1	0.57mi
15235 Lakes of Delray Blvd #299 Delray Beach, FL	2.0	2.0	900	$1,975	$2.19	19d	1	0.58mi
6372 Sleepy Willow Way Delray Beach, FL	2.0	2.0	1344	$3,975	$2.96	16d	1	0.58mi
6372 Sleepy Willow Way Delray Beach, FL	2.0	2.0	1344	$3,975	$2.96	25d	1	0.58mi
6396 Country Wood Way Delray Beach, FL	2.0	2.0	1364	$3,000	$2.20	25d	1	0.60mi
167 Gramercy Square Dr Delray Beach, FL	3.0	2.5	1758	$3,200	$1.82	6d	1	0.64mi
6557 Country Wood Way Delray Beach, FL	3.0	2.0	1346	$4,700	$3.49	25d	1	0.66mi
15301 Pembridge Ave #43 Delray Beach, FL	2.0	2.0	1150	$2,150	$1.87	25d	1	0.67mi
6550 Country Wood Way Delray Beach, FL	3.0	2.0	1408	$4,000	$2.84	6d	1	0.67mi
6550 Country Wood Way Delray Beach, FL	3.0	2.0	1408	$4,000	$2.84	25d	1	0.67mi
5550 Nepsa Way Delray Beach, FL	1.0–3.0	1.0–2.0	1035	$2,744	$2.65	0d	11	0.68mi
6549 Sleepy Willow Way #6549 Delray Beach, FL	3.0	2.0	1729	$6,000	$3.47	25d	1	0.69mi
6197 Caladium Rd Delray Beach, FL	2.0	2.0	1427	$4,000	$2.80	25d	1	0.69mi
14050 Pacific Point Pl Delray Beach, FL	1.0–3.0	1.0–2.0	1033	$2,682	$2.60	0d	29	0.73mi
6077 Lake Hibiscus Dr Unit 6077 Delray Beach, FL	3.0	2.0	1570	$3,200	$2.04	19d	1	0.74mi
14 Astor Cir Delray Beach, FL	3.0	2.5	1856	$3,400	$1.83	0d	1	0.75mi
114 E Astor Cir Delray Beach, FL	3.0	2.5	1856	$3,000	$1.62	15d	1	0.75mi
452 Normandy J Unit J Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	25d	1	0.76mi
452 Normandy J Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	25d	1	0.76mi

HOA detail

• Monthly dues: $250 · $3,000/yr

Listing history 8 events

1. 2026-05-19
   status Pending
2. 2026-05-02
   historical $2,000
3. 2026-05-01
   listed $199,000 Active
4. 2026-04-11
   listed $2,000
5. 2013-06-05
   historical
6. 2013-05-31
   listed $75,000 New
7. 2000-06-05
   soldstatus $52,000
8. 1983-03-01
   soldstatus $49,500

ⓘ 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: $2,997 · $250/mo
• Projected year-2 tax: $2,997 · $250/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 ≥106°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,616
• − Mortgage interest: −$11,147
• − Property taxes: −$2,997
• − Insurance: −$995
• − Repairs & maintenance: −$2,609
• − Management: −$2,609
• − HOA: −$3,000
• − Depreciation: −$5,789
• Taxable income: $3,469
• Est. tax owed @ 24.0%: −$832
• After-tax cash flow: $5,419/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

-96.0% since first listed

8 events — show timeline

• 2026-05-19 Pending — Beaches MLS
• 2026-05-02 Rental Removed $2,000 GFLMLS
• 2026-05-01 Listed $199,000 Beaches MLS
• 2026-04-11 Listed for Rent $2,000 GFLMLS
• 2013-06-05 Listing Removed — Beaches MLS
• 2013-05-31 Listed $75,000 Beaches MLS
• 2000-06-05 Sold (Public Records) $52,000 Public Records
• 1983-03-01 Sold (Public Records) $49,500 Public Records

Property tax history

+7.4%/yr

Latest (2025): $2,997 · +2.6% YoY. Source: county tax records.