494 Monaco K #494 · Delray Beach, FL 33446

$79,900

1 bd · 1.5 ba · 720 sqft · Condo · 147 Days on market

Built 1974 $685/mo HOA · 41% of rent ↓ 48% 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 +17.9/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• 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

GREAT OPPORTUNITY - Meticulously updated 1 bedroom, 1.5 bathroom, perfectly situated as a ground-level corner unit. This home has been thoughtfully remodeled, featuring a contemporary aesthetic and a brand-new electrical system for peace of mind. Updated kitchen appliances and A/C. Spacious layout with the added convenience of an in-unit washer and dryer. Enjoy quiet garden views from your porch. Located immediately near the parking lot and mailboxes, with a bus stop within easy walking distance. Enjoy the proximity of tennis courts and the pool area. This property offers and incredible value for the price. Whether you are looking for an investment or to downsize, this is a must see! Rememb

Key facts

• Pool area
• Quiet garden views
• $685 HOA

Tags

• GROUND-LEVEL CORNER UNIT
• UPDATED KITCHEN APPLIANCES
• IN-UNIT WASHER AND DRYER
• QUIET GARDEN VIEWS
• PROXIMITY OF TENNIS COURTS
• POOL AREA

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association fee includes common area maintenance, hot water, maintenance of structure, recreation facilities, sewer and water; Community amenities: business center, clubhouse, fitness center, hobby room, pool, tennis courts, transportation service

Exterior

• Parking: Detached guest garage; 1 covered garage space
• Security: Complex is fenced; Security guard; Smoke detectors
• Utilities: Water and sewer provided (association includes service)
• Home design: 2-story property; Has attached neighboring property; First-floor entry
• Construction: Block construction; Effective year built
• Exterior features: Enclosed porch; Porch with screened area; Association pool (heated); Exterior lighting

Interior

• Kitchen: Built-in oven; Self-cleaning oven; Electric range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Bedroom located on the main level
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning; Thermostat
• Interior features: Blinds on windows; Bedroom on main level; Family/Dining room; First-floor entry; Combined living and dining area
• Laundry & utility: Washer and dryer; Laundry / utility room

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $80k.

Deal economics

• At list price, monthly cash flow is $67 ($808/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 4.4% 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 20d 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 $1k of equity ($552 loan paydown + $549 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.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $9k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 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 1974 — 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: 2.07% ✓
• Cap rate: 7.30%
• Cash-on-cash: 3.61%
• DSCR: 1.16
• GRM: 4.0

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: 0.9%
• Equity multiple: 1.04×
• Total profit: $977
• Equity at exit: $25,982

10-year hold

• IRR: 2.5%
• Equity multiple: 1.27×
• Total profit: $5,955
• Equity at exit: $33,548

Cash invested: $22,372 (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: 4.0×

Monthly cashflow live

• Estimated rent: $1,651 high
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$685
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $67

Break-even live

Break-even rent $1,566

Max offer price $79,900

Occupancy floor 91%

Sensitivity live

Price	-10% $123	-5% $95	+0% $67	+5% $40	+10% $12
Rent	-10% $-63	-5% $2	+0% $67	+5% $133	+10% $198
Rate	-1.0pp $108	-0.5pp $88	base $67	+0.5pp $47	+1.0pp $26

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
459 Monaco Blvd Unit 459 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	0d	1	0.01mi
711 Monaco O Delray Beach, FL	1.0	1.5	720	$1,550	$2.15	25d	1	0.01mi
451 Monaco Blvd Unit J Delray Beach, FL	1.0	1.5	720	$1,599	$2.22	25d	1	0.01mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	13d	1	0.02mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	19d	1	0.02mi
482 Monaco Blvd #482 Delray Beach, FL	1.0	1.5	726	$1,400	$1.93	25d	1	0.02mi
195 Monaco E Delray Beach, FL	1.0	1.5	728	$1,550	$2.13	25d	1	0.04mi
459 Monaco J #459 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	2d	1	0.08mi
58 Monaco Blvd Unit 58 Delray Beach, FL	1.0	1.5	720	$1,650	$2.29	25d	1	0.09mi
286 Monaco F Delray Beach, FL	1.0	2.0	726	$1,700	$2.34	25d	1	0.10mi
679 Saxony Way Delray Beach, FL	1.0	1.5	720	$1,600	$2.22	6d	1	0.15mi
11 Brittany a Delray Beach, FL	1.0	1.5	725	$1,500	$2.07	8d	1	0.16mi
159 Brittany Ter Unit 159 Delray Beach, FL	1.0	1.5	720	$1,795	$2.49	17d	1	0.17mi
419 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	25d	1	0.17mi
270 Brittany F Unit F Delray Beach, FL	1.0	1.5	720	$1,600	$2.22	8d	1	0.17mi
675 Brittany O Delray Beach, FL	1.0	1.5	720	$1,500	$2.08	25d	1	0.18mi
123 Saxony C Delray Beach, FL	1.0	1.5	720	$2,500	$3.47	25d	1	0.19mi
662 Saxony N Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	21d	1	0.19mi
23 Saxony a Delray Beach, FL	1.0	1.5	726	$1,300	$1.79	8d	1	0.19mi
594 Saxony Trl Unit 594 Delray Beach, FL	1.0	1.5	720	$1,550	$2.15	3d	1	0.19mi
594 Saxony Trl Unit 594 Delray Beach, FL	1.0	1.5	720	$1,650	$2.29	25d	1	0.19mi
175 Valencia H Delray Beach, FL	1.0	1.5	726	$1,500	$2.07	8d	1	0.21mi
6 Brittany a Delray Beach, FL	1.0	1.5	726	$1,400	$1.93	0d	1	0.21mi
370 Saxony H Delray Beach, FL	1.0	1.5	726	$1,500	$2.07	6d	1	0.21mi
686 Brittany O Delray Beach, FL	1.0	1.5	720	$1,600	$2.22	25d	1	0.22mi
718 Brittany Park #718 Delray Beach, FL	1.0	1.5	720	$1,795	$2.49	17d	1	0.25mi
715 Saxony O Delray Beach, FL	1.0	1.5	726	$1,200	$1.65	25d	1	0.28mi
318 Seville N #318 Delray Beach, FL	1.0	1.5	720	$1,495	$2.08	25d	1	0.29mi
211 Saxony Ln #211 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	8d	1	0.30mi
99 Saxony C Delray Beach, FL	1.0	1.5	720	$2,500	$3.47	25d	1	0.30mi
151 Saxony D Delray Beach, FL	1.0	1.5	726	$1,500	$2.07	12d	1	0.30mi
322 Seville N Delray Beach, FL	1.0	1.5	720	$1,495	$2.08	25d	1	0.32mi
242 Seville K Unit 242 Delray Beach, FL	1.0	1.5	720	$1,380	$1.92	25d	1	0.38mi
102 Waterford D Unit 102 Delray Beach, FL	1.0	1.5	720	$1,900	$2.64	25d	1	0.39mi
111 Normandy Ln Delray Beach, FL	1.0	1.5	726	$1,450	$2.00	2d	1	0.42mi
111 Normandy Ln Delray Beach, FL	1.0	1.5	726	$1,450	$2.00	0d	1	0.42mi
43 Waterford B Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	25d	1	0.45mi
154 Seville G Delray Beach, FL	1.0	1.0	720	$1,490	$2.07	15d	1	0.47mi
163 Tuscany C Unit C Delray Beach, FL	1.0	1.5	720	$1,300	$1.81	15d	1	0.49mi
126 Seville E Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	19d	1	0.51mi

HOA detail condo

• Monthly dues: $685 · $8,220/yr
• Likely covers: electricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-18
   days on market $79,900 Active 147 DOM
2. 2026-06-17
   days on market $79,900 Active 146 DOM
3. 2026-06-16
   days on market $79,900 Active 145 DOM
4. 2026-06-15
   days on market $79,900 Active 144 DOM
5. 2026-06-13
   days on market $79,900 Active 142 DOM
6. 2026-06-09
   days on market $79,900 Active 138 DOM
7. 2026-06-07
   days on market $79,900 Active 136 DOM
8. 2026-06-04
   days on market $79,900 Active 133 DOM
9. 2026-06-03
   days on market $79,900 Active 132 DOM
10. 2026-06-01
    days on market $79,900 Active 130 DOM
11. 2026-05-31
    days on market $79,900 Active 129 DOM
12. 2026-05-17
    status Active
13. 2026-05-12
    historical Active Under Contract
14. 2026-05-10
    price $79,900
15. 2026-03-18
    price $85,000
16. 2026-01-21
    listed $89,000 Active
17. 2025-11-20
    historical
18. 2025-08-12
    price $99,000
19. 2025-05-28
    price $119,500
20. 2025-04-10
    listed $129,500 Active
21. 2025-04-09
    historical $1,750
22. 2025-04-02
    price $1,750
23. 2025-03-04
    price $1,800
24. 2024-11-27
    price $1,900
25. 2024-10-04
    listed $1,950
26. 2024-05-25
    price $139,900
27. 2024-05-25
    status Active
28. 2024-04-04
    price $144,900
29. 2024-03-08
    price $149,900
30. 2024-02-20
    listed $155,000 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 7 d/yr ≥107°F today · 23 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,816
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$1,585
• − Management: −$1,585
• − HOA: −$8,220
• − Depreciation: −$2,324
• Taxable income: $27
• Est. tax owed @ 24.0%: −$7
• After-tax cash flow: $802/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

-48.5% since first listed

19 events — show timeline

• 2026-05-17 Relisted — MARMLS
• 2026-05-12 Contingent — MARMLS
• 2026-05-10 Price Changed $79,900 MARMLS
• 2026-03-18 Price Changed $85,000 MARMLS
• 2026-01-21 Listed $89,000 MARMLS
• 2025-11-20 Listing Removed — MARMLS
• 2025-08-12 Price Changed $99,000 MARMLS
• 2025-05-28 Price Changed $119,500 MARMLS
• 2025-04-10 Listed $129,500 MARMLS
• 2025-04-09 Rental Removed $1,750 MARMLS
• 2025-04-02 Price Changed $1,750 MARMLS
• 2025-03-04 Price Changed $1,800 MARMLS
• 2024-11-27 Price Changed $1,900 MARMLS
• 2024-10-04 Listed for Rent $1,950 MARMLS
• 2024-05-25 Price Changed $139,900 MARMLS
• 2024-05-25 Relisted — MARMLS
• 2024-04-04 Price Changed $144,900 MARMLS
• 2024-03-08 Price Changed $149,900 MARMLS
• 2024-02-20 Listed $155,000 MARMLS