6248 Petunia Rd · Delray Beach, FL 33484

$349,000

2 bd · 2.0 ba · 1,539 sqft · Townhouse public records · 105 Days on market

Built 2001 3,167 sqft lot Est $363k · at est. $431/mo HOA · 14% of rent

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Why this score? — see what drove the D 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 +10.9/30.0
• ARV discount +9.3/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Rent growth +3.6/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

THIS BEAUTIFUL HOME HAS TWO BEDROOMS, TWO BATHS, UPDATED KITCHEN AND BATH, OVERSIZED ONE CAR GARAGE AND AN ENCLOSED PATIO. THE OWNER IS UNDER CONTRACT TO HAVE A NEW ROOF INSTALLED. LARGE EAT-IN-KITCHEN, ACCORDIAN STORM SHUTTERS, MOVE IN READY. FLORAL LAKES IS A VERY ACTIVE HOA COMMUNITY, FHA AND VA APPROVED FOR 55+ RESIDENTS. UPDATED CLUBHOUSE, TWO POOLS, HOT TUB, SAUNAS, TENNIS AND PICKLEBALL, VERY CONVENIENT TO SHOPPING, RESTAURANTS, DOWNTOWN DELRAY AND MINUTES TO THE BEACH! PET FRIENDLY, YOU CAN HAVE TWO DOGS UP TP 40 POUNDS EACH. THIS HOME IS MOVE IN READY, EASY TO SEE!

Key facts

• Updated clubhouse
• Updated kitchen
• Active hoa community

Tags

• UPDATED KITCHEN
• ENCLOSED PATIO
• NEW ROOF
• ACCORDION STORM SHUTTERS
• ACTIVE HOA COMMUNITY
• UPDATED CLUBHOUSE

Property features AI

Finance

• Other: Senior community; Pets allowed with restrictions (cats and dogs OK, breed and number limits)
• Financial info: Not a land-lease property
• HOA & community: Part of FLORAL LAKES association; Monthly HOA fee of $431; Association amenities: clubhouse, fitness center, pool, spa/hot tub, sauna, tennis courts, pickleball courts, bocce, shuffleboard, billiard room, game room, library, community room, management/manager on site, internet included, gated, on-site management

Exterior

• Parking: Attached 1-car garage; 2 open parking spaces; 1 covered parking space
• Security: Smoke detectors; Gated community (no guard)
• Utilities: Public water; Public sewer; Three-phase electric; Sewer and water available
• Home design: Villa; Single-story; Entry level living area; North-facing
• Construction: CBS construction; Spanish tile roof; Resale property; Built as The Iris LE model
• Exterior features: Patio; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Cathedral ceilings; Vaulted ceilings; Entrance foyer; Split bedroom layout
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $349k.

Deal economics

• At list price, monthly cash flow is $-155 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $322k (7.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $307k (12.0% below list).
• Recommended offer: $307k (12.0% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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); Carver Middle School (math 22% / reading 34%, grade F, #486 of 571 statewide, top 86%, 732 students, 73% FRL); Spanish River Community High School (math 64% / reading 74%, grade B, #63 of 667 statewide, top 10%, 2,578 students, 25% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 543 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $3,071/mo this rent would consume 59% 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 $2k of loan paydown is wiped out by about $10k 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 105 days — a 9% lower offer ($318k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $198k; list at $349k implies a 77% 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 $307,089 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.88% ✗
• Cap rate: 5.76%
• Cash-on-cash: -1.90%
• DSCR: 0.92
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $363,204
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6105 Lake Hibiscus Dr #0	0.36mi	2/2.0	1,378 (-10%)	2mo	$325,000	$236	64
15244 Lakes Of Delray Blvd #108	0.61mi	2/2.0	1,362 (-12%)	4mo	$305,000	$224	49

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: -17.9%
• Equity multiple: 0.36×
• Total profit: $-62,263
• Equity at exit: $52,037

10-year hold

• IRR: -7.5%
• Equity multiple: 0.49×
• Total profit: $-49,442
• Equity at exit: $30,175

Cash invested: $97,720 (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: 543
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $3,071 high
• Mortgage (P&I): −$1,830
• Tax from tax record: −$174 /mo · $2,092/yr
• Insurance: −$145
• HOA: −$431
• Vacancy / Maint / Mgmt: −$645
• Net cashflow: $-155

Break-even live

Break-even rent $3,267

Max offer price $321,636

Occupancy floor —

Sensitivity live

Price	-10% $43	-5% $-56	+0% $-155	+5% $-254	+10% $-352
Rent	-10% $-398	-5% $-276	+0% $-155	+5% $-34	+10% $88
Rate	-1.0pp $21	-0.5pp $-66	base $-155	+0.5pp $-245	+1.0pp $-337

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6197 Caladium Rd Delray Beach, FL	2.0	2.0	1427	$4,000	$2.80	26d	1	0.09mi
6108 Petunia Rd Delray Beach, FL	2.0	2.0	1532	$4,500	$2.94	26d	1	0.19mi
15072 Ashland Pl #132 Delray Beach, FL	2.0	2.0	1100	$2,100	$1.91	21d	1	0.37mi
6077 Lake Hibiscus Dr Unit 6077 Delray Beach, FL	3.0	2.0	1570	$3,200	$2.04	20d	1	0.37mi
15072 Ashland Pl Delray Beach, FL	2.0	2.0	1000	$2,048	$2.05	0d	2	0.38mi
14832 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,500	$2.33	19d	1	0.40mi
14747 Wildflower Ln Delray Beach, FL	2.0	2.0	1229	$2,475	$2.01	26d	1	0.43mi
14735 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,350	$2.19	4d	1	0.46mi
15301 Pembridge Ave #43 Delray Beach, FL	2.0	2.0	1150	$2,150	$1.87	26d	1	0.49mi
6396 Country Wood Way Delray Beach, FL	2.0	2.0	1364	$3,000	$2.20	26d	1	0.52mi
6550 Country Wood Way Delray Beach, FL	3.0	2.0	1408	$4,000	$2.84	6d	1	0.52mi
6550 Country Wood Way Delray Beach, FL	3.0	2.0	1408	$4,000	$2.84	26d	1	0.52mi
6557 Country Wood Way Delray Beach, FL	3.0	2.0	1346	$4,700	$3.49	26d	1	0.55mi
6372 Sleepy Willow Way Delray Beach, FL	2.0	2.0	1344	$3,975	$2.96	26d	1	0.56mi
6372 Sleepy Willow Way Delray Beach, FL	2.0	2.0	1344	$3,975	$2.96	16d	1	0.56mi
5884 Morningstar Cir #306 Delray Beach, FL	2.0	2.0	1113	$2,200	$1.98	26d	1	0.57mi
5910 Morningstar Cir #202 Delray Beach, FL	2.0	2.0	1120	$2,200	$1.96	26d	1	0.57mi
6813 Moonlit Dr Delray Beach, FL	2.0	2.0	1148	$2,150	$1.87	26d	1	0.60mi
14608 Country Side Ln Delray Beach, FL	2.0	2.0	1303	$2,950	$2.26	26d	1	0.60mi
6549 Sleepy Willow Way #6549 Delray Beach, FL	3.0	2.0	1729	$6,000	$3.47	26d	1	0.60mi
15355 Lakes of Delray Blvd #309 Delray Beach, FL	2.0	2.0	1362	$2,800	$2.06	20d	1	0.66mi
5600 Atlantic Ave Delray Beach, FL	1.0–3.0	1.0–3.0	1147	$2,997	$2.61	0d	29	0.68mi
6096 Kings Gate Cir Delray Beach, FL	2.0	2.0	1311	$2,500	$1.91	26d	1	0.75mi
14475 Strathmore Ln Delray Beach, FL	2.0	2.0	1230	$2,422	$1.97	26d	2	0.76mi
15364 Lakes of Delray Blvd #45 Delray Beach, FL	2.0	2.0	1160	$2,000	$1.72	15d	1	0.76mi
6234 Pointe Regal Cir Delray Beach, FL	2.0	2.0	1217	$3,899	$3.20	26d	1	0.77mi
14696 Lucy Dr #14696 Delray Beach, FL	2.0	2.0	1200	$2,200	$1.83	9d	1	0.78mi
15155 Michelangelo Blvd Delray Beach, FL	2.0	2.0	1079	$2,288	$2.12	0d	2	0.81mi
15155 Michelangelo Blvd Delray Beach, FL	2.0	2.0	1079	$2,288	$2.12	9d	2	0.81mi
15155 Michelangelo Blvd #106 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	26d	1	0.82mi
15155 Michelangelo Blvd #106 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	22d	1	0.82mi
14624 Three Ponds Trl Delray Beach, FL	3.0	2.0	1411	$3,250	$2.30	19d	1	0.82mi
14606 Lucy Dr Delray Beach, FL	2.0	2.0	1200	$1,850	$1.54	26d	1	0.84mi
16089 Poppyseed Cir #2006 Delray Beach, FL	3.0	2.5	1652	$3,200	$1.94	26d	1	0.85mi
15145 Michelangelo Blvd #102 Delray Beach, FL	3.0	2.0	1238	$2,600	$2.10	5d	1	0.86mi
15145 Michelangelo Blvd #102 Delray Beach, FL	3.0	2.0	1238	$2,600	$2.10	26d	1	0.86mi
15145 Michelangelo Blvd #102 Delray Beach, FL	3.0	2.0	1238	$2,600	$2.10	1d	1	0.86mi
14464 Campanelli Dr Delray Beach, FL	2.0	2.0	1296	$2,950	$2.28	26d	1	0.86mi
14556 Wiley Range Rd Delray Beach, FL	2.0	2.0	1319	$3,000	$2.27	26d	1	0.86mi
15015 Michelangelo Blvd #102 Delray Beach, FL	3.0	2.0	1238	$2,499	$2.02	26d	1	0.86mi

HOA detail

• Monthly dues: $431 · $5,172/yr
• Likely covers: pool

Listing history 16 events

1. 2026-06-21
   days on market $349,000 Active 105 DOM
2. 2026-06-18
   days on market $349,000 Active 102 DOM
3. 2026-06-17
   days on market $349,000 Active 101 DOM
4. 2026-06-16
   days on market $349,000 Active 100 DOM
5. 2026-06-15
   days on market $349,000 Active 99 DOM
6. 2026-06-13
   days on market $349,000 Active 97 DOM
7. 2026-06-09
   days on market $349,000 Active 93 DOM
8. 2026-06-08
   days on market $349,000 Active 92 DOM
9. 2026-06-07
   days on market $349,000 Active 91 DOM
10. 2026-06-04
    days on market $349,000 Active 88 DOM
11. 2026-06-03
    days on market $349,000 Active 87 DOM
12. 2026-06-02
    days on market $349,000 Active 86 DOM
13. 2026-06-01
    days on market $349,000 Active 85 DOM
14. 2026-05-31
    days on market $349,000 Active 84 DOM
15. 2026-03-08
    listed $349,000 Active
16. 2004-03-31
    soldstatus $197,500

ⓘ 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: $2,092 · $174/mo
• Projected year-2 tax: $2,897 · $241/mo
• Expected delta: +$805/yr (+$67/mo · 38.5%)

ⓘ 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 ≥107°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: $36,851
• − Mortgage interest: −$19,549
• − Property taxes: −$2,092
• − Insurance: −$1,745
• − Repairs & maintenance: −$2,948
• − Management: −$2,948
• − HOA: −$5,172
• − Depreciation: −$10,153
• Taxable loss: −$7,756
• Est. tax savings @ 24.0%: +$1,861
• After-tax cash flow: $3/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

+76.7% since first listed

2 events — show timeline

• 2026-03-08 Listed $349,000 Beaches MLS
• 2004-03-31 Sold (Public Records) $197,500 Public Records

Property tax history

+1.3%/yr

Latest (2025): $2,092 · +3.6% YoY. Source: county tax records.