283 Saxony F · Delray Beach, FL 33446

$79,000

1 bd · 1.5 ba · 828 sqft · Condo public records · 40 Days on market

Built 1983 $674/mo HOA · 37% 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 +27.1/30.0
• 1% rule +10.0/10.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 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

Live the Florida lifestyle, in this renovated 2nd floor apartment in Kings Point, Delray Beach. This tastefully updated 1 bed/1.5 bath unit features tile flooring throughout and fully tiled bathrooms. Enjoy the convenience of a washer and dryer on the screened patio. The community offers complimentary transportation to shopping, indoor and outdoor pools, a theatre, tennis, bocce, golf, and more. The home may be purchased with the current tenant in place. HOA/management: Castle Group Properties Inc. . Leasing is permitted after two years of ownership, tenant is grandfathered in. . Current rent is $1,500 starting January 2026. The unit can be delivered vacant at closing, tenant will stay if b

Key facts

• Screened patio
• Washer and dryer
• Renovated apartment

Tags

• RENOVATED APARTMENT
• TILE FLOORING
• FULLY TILED BATHROOMS
• WASHER AND DRYER
• SCREENED PATIO
• INDOOR AND OUTDOOR POOLS

Property features AI

Finance

• Other: Community contains approximately 7,200 units; Senior community
• Financial info: No land lease; Pets not allowed
• HOA & community: Association: Saxony F; Monthly HOA fee; Association amenities include: clubhouse, fitness center, indoor pool, heated pool, spa/hot tub, sauna, tennis courts, pickleball and bocce courts, shuffleboard, putting green, golf course and putting green amenities, basketball court, billiard/game rooms, library, hobby/workshop rooms, community room, cafe/restaurant, car wash area, storage, manager on site, courtesy bus, maintenance and security services, street lights, maintained community, recreation facilities

Exterior

• Parking: Assigned parking; Deeded parking; Guest parking; One parking space total
• Security: Gated community with guard; Security gate; Security guard and patrol; Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric service; Cable available; Electricity connected; Phone connected; Water available; Sewer available
• Home design: Condominium; One level; Two-story building; Faces northwest; Resale, updated/remodeled
• Construction: Concrete construction; Permanent foundation; Other roof
• Exterior features: Waterfront (no specific waterfront features listed); Asphalt road frontage; Private maintained road

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: One main-level bedroom
• Flooring: Tile; Vinyl; Wood
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Dome kitchen; Blinds on windows; Furnished negotiable
• Laundry & utility: In-unit laundry (inside)

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $79k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Recommended offer: $77k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 ($546 loan paydown + $543 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 $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y 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 $65k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 37% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 2→8/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $76,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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: 2.28% ✓
• Cap rate: 9.69%
• Cash-on-cash: 12.14%
• DSCR: 1.54
• GRM: 3.7

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: 9.9%
• Equity multiple: 1.48×
• Total profit: $10,561
• Equity at exit: $25,690

10-year hold

• IRR: 11.1%
• Equity multiple: 2.15×
• Total profit: $25,496
• Equity at exit: $33,170

Cash invested: $22,120 (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: 3.7×

Monthly cashflow live

• Estimated rent: $1,799 high
• Mortgage (P&I): −$414
• Tax from tax record: −$76 /mo · $913/yr
• Insurance: −$33
• HOA: −$674
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $224

Break-even live

Break-even rent $1,516

Max offer price $79,000

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
669 Monaco N Delray Beach, FL	2.0	2.0	880	$1,700	$1.93	24d	1	0.06mi
352 Saxony Trl Unit 352 Delray Beach, FL	2.0	2.0	907	$2,000	$2.21	24d	1	0.07mi
321 Saxony G Delray Beach, FL	2.0	2.0	880	$2,200	$2.50	4d	1	0.08mi
370 Saxony H Delray Beach, FL	1.0	1.5	726	$1,500	$2.07	5d	1	0.10mi
564 Saxony Dr #564 Delray Beach, FL	2.0	2.0	880	$2,200	$2.50	5d	1	0.10mi
594 Saxony Trl Unit 594 Delray Beach, FL	1.0	1.5	720	$1,550	$2.15	2d	1	0.10mi
23 Saxony a Delray Beach, FL	1.0	1.5	726	$1,300	$1.79	7d	1	0.10mi
123 Saxony C Delray Beach, FL	1.0	1.5	720	$2,500	$3.47	24d	1	0.10mi
445 Saxony Way #445 Delray Beach, FL	2.0	2.0	883	$1,550	$1.76	24d	1	0.10mi
662 Saxony N Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	20d	1	0.10mi
516 Saxony K Delray Beach, FL	2.0	2.0	880	$1,450	$1.65	24d	1	0.10mi
594 Saxony Trl Unit 594 Delray Beach, FL	1.0	1.5	720	$1,650	$2.29	24d	1	0.10mi
189 Saxony Trl Unit 189 Delray Beach, FL	2.0	2.0	880	$1,475	$1.68	22d	1	0.10mi
211 Saxony Ln #211 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	7d	1	0.11mi
569 Monaco L Delray Beach, FL	2.0	2.0	880	$1,500	$1.70	24d	1	0.12mi
151 Saxony D Delray Beach, FL	1.0	1.5	726	$1,500	$2.07	12d	1	0.12mi
99 Saxony C Delray Beach, FL	1.0	1.5	720	$2,500	$3.47	24d	1	0.12mi
52 Saxony Cir Unit 52 Delray Beach, FL	2.0	2.0	1027	$3,200	$3.12	24d	1	0.13mi
679 Saxony Way Delray Beach, FL	1.0	1.5	720	$1,600	$2.22	5d	1	0.14mi
468 Saxony J Delray Beach, FL	2.0	2.0	907	$1,850	$2.04	24d	1	0.16mi
401 Monaco Way Unit 401 Delray Beach, FL	2.0	2.0	920	$1,950	$2.12	24d	1	0.16mi
482 Monaco Blvd #482 Delray Beach, FL	1.0	1.5	726	$1,400	$1.93	24d	1	0.17mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	12d	1	0.17mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	18d	1	0.17mi
23 Flanders a Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	24d	1	0.17mi
451 Monaco Blvd Unit J Delray Beach, FL	1.0	1.5	720	$1,599	$2.22	24d	1	0.17mi
459 Monaco Blvd Unit 459 Delray Beach, FL	1.0	1.5	720	$1,500	$2.08	20d	1	0.17mi
711 Monaco O Delray Beach, FL	1.0	1.5	720	$1,550	$2.15	24d	1	0.17mi
581 Monaco Blvd Unit 581 Delray Beach, FL	2.0	2.0	880	$2,000	$2.27	24d	1	0.17mi
153 Monaco D Delray Beach, FL	2.0	2.0	880	$1,750	$1.99	17d	1	0.19mi
29 Flanders a Delray Beach, FL	2.0	2.0	760	$1,900	$2.50	24d	1	0.20mi
459 Monaco J #459 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	1d	1	0.21mi
195 Monaco E Delray Beach, FL	1.0	1.5	728	$1,550	$2.13	24d	1	0.22mi
58 Monaco Blvd Unit 58 Delray Beach, FL	1.0	1.5	720	$1,650	$2.29	24d	1	0.25mi
72 Monaco Blvd Unit 72 Delray Beach, FL	2.0	2.0	880	$1,950	$2.22	22d	1	0.25mi
276 Monaco F Delray Beach, FL	2.0	2.0	883	$1,650	$1.87	24d	1	0.25mi
286 Monaco F Delray Beach, FL	1.0	2.0	726	$1,700	$2.34	24d	1	0.25mi
318 Monaco G Delray Beach, FL	2.0	2.0	907	$2,200	$2.43	24d	1	0.25mi
596 Saxony M Delray Beach, FL	2.0	2.0	883	$1,400	$1.59	14d	1	0.27mi
675 Brittany O Delray Beach, FL	1.0	1.5	720	$1,500	$2.08	24d	1	0.28mi

HOA detail condo

• Monthly dues: $674 · $8,088/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $79,000 Active 40 DOM
2. 2026-06-17
   days on market $79,000 Active 39 DOM
3. 2026-06-16
   days on market $79,000 Active 38 DOM
4. 2026-06-15
   days on market $79,000 Active 37 DOM
5. 2026-06-13
   days on market $79,000 Active 35 DOM
6. 2026-06-09
   days on market $79,000 Active 31 DOM
7. 2026-06-08
   days on market $79,000 Active 30 DOM
8. 2026-06-07
   days on market $79,000 Active 29 DOM
9. 2026-06-04
   days on market $79,000 Active 26 DOM
10. 2026-06-03
    days on market $79,000 Active 25 DOM
11. 2026-06-02
    days on market $79,000 Active 24 DOM
12. 2026-06-01
    days on market $79,000 Active 23 DOM
13. 2026-05-31
    days on market $79,000 Active 22 DOM
14. 2026-05-09
    listed $79,000 Active
15. 2021-03-01
    historical
16. 2021-03-01
    price $98,000
17. 2021-02-28
    listed $149,000 Active
18. 2013-09-21
    historical
19. 2009-06-27
    historical
20. 2008-07-09
    listed $25,000
21. 2008-06-12
    historical
22. 2007-06-13
    listed $79,900
23. 2005-07-12
    listed $110,000
24. 2005-04-06
    soldstatus $65,000
25. 1994-05-23
    soldstatus $19,500

ⓘ 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: $913 · $76/mo
• Projected year-2 tax: $913 · $76/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 8/10 Severe 2 d/yr ≥107°F today · 8 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: $21,586
• − Mortgage interest: −$4,425
• − Property taxes: −$913
• − Insurance: −$395
• − Repairs & maintenance: −$1,727
• − Management: −$1,727
• − HOA: −$8,088
• − Depreciation: −$2,298
• Taxable income: $2,013
• Est. tax owed @ 24.0%: −$483
• After-tax cash flow: $2,203/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

+305.1% since first listed

12 events — show timeline

• 2026-05-09 Listed $79,000 Beaches MLS
• 2021-03-01 Listing Removed — Beaches MLS
• 2021-03-01 Price Changed $98,000 Beaches MLS
• 2021-02-28 Listed $149,000 Beaches MLS
• 2013-09-21 Listing Removed — Beaches MLS
• 2009-06-27 Listing Removed — Beaches MLS
• 2008-07-09 Listed $25,000 Beaches MLS
• 2008-06-12 Listing Removed — Beaches MLS
• 2007-06-13 Listed $79,900 Beaches MLS
• 2005-07-12 Listed $110,000 Beaches MLS
• 2005-04-06 Sold (Public Records) $65,000 Public Records
• 1994-05-23 Sold (Public Records) $19,500 Public Records

Property tax history

+6.7%/yr

Latest (2025): $913 · -10.4% YoY. Source: county tax records.