390 Monaco Park · Delray Beach, FL 33446

$99,999

2 bd · 2.0 ba · 907 sqft · Other · 23 Days on market

Built 1977 Poor condition

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 +1.0/5.0

Listing remarks

INVESTOR OPPORTUNITY THE LOWEST PRICED GROUND FLOOR WATERFRONT 2/2 IN MONACO I TILE FLOOR THROUGHOUT, BRAND NEW REFRIGERATOR AND RANGE, CBS CONSTRUCTION WITH GORGEOUS WATER VIEW THIS ONE WILL NOT LAST !

Key facts

• Tile floor
• Gorgeous water view
• Ground floor

Tags

• GROUND FLOOR
• WATERFRONT
• TILE FLOOR
• GORGEOUS WATER VIEW

Property features AI

Finance

• HOA & community: Part of the Kings Point community

Exterior

• Home design: Built in 1977
• Construction: Living area approximately 907; Construction year 1977
• Exterior features: Located in the Kings Point subdivision

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $100k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $757 ($9k/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: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.4% 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.
• Market conditions: Rents flat; 577 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); 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 ($691 loan paydown + $687 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $98,499 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.83% ✓
• Cap rate: 15.37%
• Cash-on-cash: 32.42%
• DSCR: 2.44
• GRM: 4.5

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: 32.0%
• Equity multiple: 2.57×
• Total profit: $44,078
• Equity at exit: $32,518

10-year hold

• IRR: 33.3%
• Equity multiple: 4.57×
• Total profit: $99,979
• Equity at exit: $41,988

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 33446

• Home prices YoY: 0.3%
• Rents YoY: 0.5%
• Active inventory: 577
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,832 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $757

Break-even live

Break-even rent $875

Max offer price $99,999

Occupancy floor 54%

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
58 Monaco Blvd Unit 58 Delray Beach, FL	1.0	1.5	720	$1,650	$2.29	24d	1	0.03mi
72 Monaco Blvd Unit 72 Delray Beach, FL	2.0	2.0	880	$1,950	$2.22	22d	1	0.03mi
276 Monaco F Delray Beach, FL	2.0	2.0	883	$1,650	$1.87	24d	1	0.04mi
286 Monaco F Delray Beach, FL	1.0	2.0	726	$1,700	$2.34	24d	1	0.04mi
318 Monaco G Delray Beach, FL	2.0	2.0	907	$2,200	$2.43	24d	1	0.04mi
459 Monaco J #459 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	1d	1	0.04mi
711 Monaco O Delray Beach, FL	1.0	1.5	720	$1,550	$2.15	24d	1	0.07mi
581 Monaco Blvd Unit 581 Delray Beach, FL	2.0	2.0	880	$2,000	$2.27	24d	1	0.07mi
459 Monaco Blvd Unit 459 Delray Beach, FL	1.0	1.5	720	$1,500	$2.08	21d	1	0.07mi
451 Monaco Blvd Unit J Delray Beach, FL	1.0	1.5	720	$1,599	$2.22	24d	1	0.07mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	13d	1	0.07mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	19d	1	0.07mi
482 Monaco Blvd #482 Delray Beach, FL	1.0	1.5	726	$1,400	$1.93	24d	1	0.07mi
195 Monaco E Delray Beach, FL	1.0	1.5	728	$1,550	$2.13	24d	1	0.08mi
401 Monaco Way Unit 401 Delray Beach, FL	2.0	2.0	920	$1,950	$2.12	24d	1	0.08mi
153 Monaco D Delray Beach, FL	2.0	2.0	880	$1,750	$1.99	17d	1	0.10mi
11 Brittany a Delray Beach, FL	1.0	1.5	725	$1,500	$2.07	8d	1	0.10mi
233 Brittany Dr Unit 233 Delray Beach, FL	2.0	2.0	988	$1,700	$1.72	24d	1	0.11mi
569 Monaco L Delray Beach, FL	2.0	2.0	880	$1,500	$1.70	24d	1	0.12mi
564 Brittany L Delray Beach, FL	2.0	2.5	880	$1,800	$2.05	24d	1	0.12mi
419 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	24d	1	0.12mi
233 Brittany F Unit F Delray Beach, FL	2.0	2.0	988	$1,600	$1.62	24d	1	0.12mi
292 Brittany Ave #292 Delray Beach, FL	2.0	2.0	880	$1,700	$1.93	4d	1	0.12mi
270 Brittany F Unit F Delray Beach, FL	1.0	1.5	720	$1,600	$2.22	8d	1	0.12mi
537 Brittany K Unit 537 Delray Beach, FL	2.0	2.0	880	$1,700	$1.93	24d	1	0.12mi
568 Brittany L Delray Beach, FL	2.0	2.0	883	$1,950	$2.21	24d	1	0.12mi
159 Brittany Ter Unit 159 Delray Beach, FL	1.0	1.5	720	$1,795	$2.49	17d	1	0.12mi
233 Brittany F Unit F Delray Beach, FL	2.0	2.0	988	$1,600	$1.62	8d	1	0.12mi
260 Brittany F Unit F Delray Beach, FL	2.0	2.0	880	$1,600	$1.82	2d	1	0.12mi
675 Brittany O Delray Beach, FL	1.0	1.5	720	$1,500	$2.08	24d	1	0.13mi
417 Brittany Dr #417 Delray Beach, FL	2.0	2.0	880	$1,750	$1.99	21d	1	0.14mi
679 Saxony Way Delray Beach, FL	1.0	1.5	720	$1,600	$2.22	5d	1	0.16mi
686 Brittany O Delray Beach, FL	1.0	1.5	720	$1,600	$2.22	24d	1	0.17mi
669 Monaco N Delray Beach, FL	2.0	2.0	880	$1,700	$1.93	24d	1	0.17mi
718 Brittany Park #718 Delray Beach, FL	1.0	1.5	720	$1,795	$2.49	17d	1	0.19mi
468 Saxony J Delray Beach, FL	2.0	2.0	907	$1,850	$2.04	24d	1	0.20mi
596 Saxony M Delray Beach, FL	2.0	2.0	883	$1,400	$1.59	14d	1	0.21mi
594 Saxony Trl Unit 594 Delray Beach, FL	1.0	1.5	720	$1,650	$2.29	24d	1	0.21mi
445 Saxony Way #445 Delray Beach, FL	2.0	2.0	883	$1,550	$1.76	24d	1	0.21mi
662 Saxony N Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	21d	1	0.21mi

Listing history 12 events

1. 2026-06-18
   days on market $99,999 Active 23 DOM
2. 2026-06-17
   days on market $99,999 Active 22 DOM
3. 2026-06-16
   days on market $99,999 Active 21 DOM
4. 2026-06-15
   days on market $99,999 Active 20 DOM
5. 2026-06-13
   days on market $99,999 Active 18 DOM
6. 2026-06-09
   days on market $99,999 Active 14 DOM
7. 2026-06-07
   days on market $99,999 Active 12 DOM
8. 2026-06-04
   days on market $99,999 Active 9 DOM
9. 2026-06-03
   days on market $99,999 Active 8 DOM
10. 2026-06-01
    days on market $99,999 Active 6 DOM
11. 2026-05-31
    days on market $99,999 Active 5 DOM
12. 2026-05-26
    listed $99,999 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: $21,989
• − Mortgage interest: −$5,601
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$1,759
• − Management: −$1,759
• − Depreciation: −$2,909
• Taxable income: $7,960
• Est. tax owed @ 24.0%: −$1,910
• After-tax cash flow: $7,168/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive renovations, including the installation of kitchen appliances, bathroom fixtures, flooring, and HVAC systems, to bring it up to market standards.

Repairs flagged

• Major Kitchen appliances — No appliances are visible in the kitchen.
• Major Bathroom fixtures — No fixtures are visible in the bathroom.
• Major Flooring — No flooring is visible in the photos.
• Major Interior walls — No interior walls or paint are visible in the photos.
• Major HVAC/mechanicals — No HVAC or mechanical systems are visible in the photos.

Value-add opportunities

• Resale Install kitchen appliances — Appliances are a key selling point for potential buyers.
• Resale Install bathroom fixtures — Bathroom fixtures are essential for a functional and attractive space.
• Resale Install flooring — Flooring is a critical element in the home's appearance and functionality.
• Resale Paint interior walls — Fresh paint can significantly improve the home's curb appeal and value.
• Resale Install HVAC/mechanicals — Up-to-date HVAC and mechanical systems are crucial for comfort and energy efficiency.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen appliances · No appliances are visible in the kitchen.	Major	$15,000–50,000
Bathroom fixtures · No fixtures are visible in the bathroom.	Major	$15,000–50,000
Flooring · No flooring is visible in the photos.	Major	$15,000–50,000
Interior walls · No interior walls or paint are visible in the photos.	Major	$15,000–50,000
HVAC/mechanicals · No HVAC or mechanical systems are visible in the photos.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale Install kitchen appliances — Appliances are a key selling point for potential buyers. ↑
• Resale Install bathroom fixtures — Bathroom fixtures are essential for a functional and attractive space. ↑
• Resale Install flooring — Flooring is a critical element in the home's appearance and functionality. ↑
• Resale Paint interior walls — Fresh paint can significantly improve the home's curb appeal and value. ↑
• Resale Install HVAC/mechanicals — Up-to-date HVAC and mechanical systems are crucial for comfort and energy efficiency. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-05-26 Listed $99,999 FSBO.com