524 Monaco K Unit 524K · Delray Beach, FL 33446

$115,000

2 bd · 2.0 ba · 880 sqft · Condo · 332 Days on market

Built 1974 $836/mo HOA · 46% 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).

• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.8/30.0
• 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
• DSCR +1.0/10.0

Listing remarks

Beautifully Furnished 2BD/2BA in sought-after Kings Point, Monaco K - Welcome to effortless living in this fully furnished 2-bedroom, 2-bath condo located in the highly desired community of Kings Point. Situated in the Monaco K section, this bright and inviting unit offers lift access, a spacious screened-in patio, ample storage, and newer stainless steel appliances. Spacious primary suite and second bedroom. Renowned for its resort-style amenities, Kings Point offers: Two 18-hole golf courses designed by Robert Trent Jones, Sr. Four outdoor pools & one indoor pool. Tennis, pickleball, bocce, table tennis, gym, and more. Convenient to shopping, dining & highways.

Key facts

• Tennis
• Screened-in patio
• One indoor pool

Tags

• SCREENED-IN PATIO
• RESORT-STYLE AMENITIES
• TWO 18-HOLE GOLF COURSES
• FOUR OUTDOOR POOLS
• ONE INDOOR POOL
• TENNIS

Property features AI

Finance

• Other: Association pool
• HOA & community: Monthly association fee; Association fee covers common areas, cable TV, insurance, building maintenance, pool(s), security, and trash; Community amenities: fitness center, pickleball, pool, spa/hot tub; Senior community

Exterior

• Parking: Assigned parking; Open parking
• Security: Security guard
• Utilities: Cable available
• Home design: Attached property; 2-story building; Second-floor entry
• Construction: Resale property
• Exterior features: Enclosed porch; Patio; Screened porch; Shed(s)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Unfurnished; Other interior features
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $-181 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $89k (22.8% below list).
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $89k (22.8% below list) — sets the bar for cash-flow.

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 flat; 584 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); 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 $2k of equity ($795 loan paydown + $790 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 332 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 46% 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 $88,826 (22.8% 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 332 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.60% ✓
• Cap rate: 4.41%
• Cash-on-cash: -6.74%
• DSCR: 0.70
• GRM: 5.2

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: -9.8%
• Equity multiple: 0.53×
• Total profit: $-15,066
• Equity at exit: $37,396

10-year hold

• IRR: -6.9%
• Equity multiple: 0.26×
• Total profit: $-23,801
• Equity at exit: $48,286

Cash invested: $32,200 (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: 584
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,835 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$836
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $-181

Break-even live

Break-even rent $2,064

Max offer price $88,826

Occupancy floor —

Sensitivity live

Price	-10% $-101	-5% $-141	+0% $-181	+5% $-221	+10% $-260
Rent	-10% $-326	-5% $-253	+0% $-181	+5% $-108	+10% $-36
Rate	-1.0pp $-123	-0.5pp $-152	base $-181	+0.5pp $-211	+1.0pp $-241

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
679 Saxony Way Delray Beach, FL	1.0	1.5	720	$1,600	$2.22	7d	1	0.02mi
569 Monaco L Delray Beach, FL	2.0	2.0	880	$1,500	$1.70	26d	1	0.05mi
468 Saxony J Delray Beach, FL	2.0	2.0	907	$1,850	$2.04	26d	1	0.06mi
123 Saxony C Delray Beach, FL	1.0	1.5	720	$2,500	$3.47	26d	1	0.06mi
516 Saxony K Delray Beach, FL	2.0	2.0	880	$1,450	$1.65	26d	1	0.06mi
189 Saxony Trl Unit 189 Delray Beach, FL	2.0	2.0	880	$1,475	$1.68	24d	1	0.06mi
23 Saxony a Delray Beach, FL	1.0	1.5	726	$1,300	$1.79	9d	1	0.06mi
445 Saxony Way #445 Delray Beach, FL	2.0	2.0	883	$1,550	$1.76	26d	1	0.06mi
594 Saxony Trl Unit 594 Delray Beach, FL	1.0	1.5	720	$1,550	$2.15	4d	1	0.06mi
564 Saxony Dr #564 Delray Beach, FL	2.0	2.0	880	$2,200	$2.50	6d	1	0.06mi
662 Saxony N Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	22d	1	0.06mi
594 Saxony Trl Unit 594 Delray Beach, FL	1.0	1.5	720	$1,650	$2.29	26d	1	0.06mi
669 Monaco N Delray Beach, FL	2.0	2.0	880	$1,700	$1.93	26d	1	0.07mi
352 Saxony Trl Unit 352 Delray Beach, FL	2.0	2.0	907	$2,000	$2.21	26d	1	0.08mi
370 Saxony H Delray Beach, FL	1.0	1.5	726	$1,500	$2.07	7d	1	0.09mi
321 Saxony G Delray Beach, FL	2.0	2.0	880	$2,200	$2.50	6d	1	0.11mi
459 Monaco J #459 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	3d	1	0.12mi
482 Monaco Blvd #482 Delray Beach, FL	1.0	1.5	726	$1,400	$1.93	26d	1	0.12mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	20d	1	0.12mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	14d	1	0.12mi
401 Monaco Way Unit 401 Delray Beach, FL	2.0	2.0	920	$1,950	$2.12	26d	1	0.12mi
451 Monaco Blvd Unit J Delray Beach, FL	1.0	1.5	720	$1,599	$2.22	26d	1	0.12mi
711 Monaco O Delray Beach, FL	1.0	1.5	720	$1,550	$2.15	26d	1	0.13mi
581 Monaco Blvd Unit 581 Delray Beach, FL	2.0	2.0	880	$2,000	$2.27	26d	1	0.13mi
459 Monaco Blvd Unit 459 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	1d	1	0.13mi
596 Saxony M Delray Beach, FL	2.0	2.0	883	$1,400	$1.59	15d	1	0.15mi
58 Monaco Blvd Unit 58 Delray Beach, FL	1.0	1.5	720	$1,650	$2.29	26d	1	0.16mi
72 Monaco Blvd Unit 72 Delray Beach, FL	2.0	2.0	880	$1,950	$2.22	24d	1	0.16mi
276 Monaco F Delray Beach, FL	2.0	2.0	883	$1,650	$1.87	26d	1	0.16mi
286 Monaco F Delray Beach, FL	1.0	2.0	726	$1,700	$2.34	26d	1	0.16mi
318 Monaco G Delray Beach, FL	2.0	2.0	907	$2,200	$2.43	26d	1	0.16mi
675 Brittany O Delray Beach, FL	1.0	1.5	720	$1,500	$2.08	26d	1	0.16mi
11 Brittany a Delray Beach, FL	1.0	1.5	725	$1,500	$2.07	9d	1	0.16mi
153 Monaco D Delray Beach, FL	2.0	2.0	880	$1,750	$1.99	18d	1	0.17mi
195 Monaco E Delray Beach, FL	1.0	1.5	728	$1,550	$2.13	26d	1	0.18mi
686 Brittany O Delray Beach, FL	1.0	1.5	720	$1,600	$2.22	26d	1	0.20mi
211 Saxony Ln #211 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	9d	1	0.21mi
629 Saxony Pl #629 Delray Beach, FL	2.0	2.0	880	$1,550	$1.76	13d	1	0.21mi
715 Saxony O Delray Beach, FL	1.0	1.5	726	$1,200	$1.65	26d	1	0.22mi
718 Brittany Park #718 Delray Beach, FL	1.0	1.5	720	$1,795	$2.49	18d	1	0.23mi

HOA detail condo

• Monthly dues: $836 · $10,032/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-21
   days on market $115,000 Active 332 DOM
2. 2026-06-18
   days on market $115,000 Active 329 DOM
3. 2026-06-17
   days on market $115,000 Active 328 DOM
4. 2026-06-16
   days on market $115,000 Active 327 DOM
5. 2026-06-15
   days on market $115,000 Active 326 DOM
6. 2026-06-13
   days on market $115,000 Active 324 DOM
7. 2026-06-09
   days on market $115,000 Active 320 DOM
8. 2026-06-07
   days on market $115,000 Active 318 DOM
9. 2026-06-04
   days on market $115,000 Active 315 DOM
10. 2026-06-03
    days on market $115,000 Active 314 DOM
11. 2026-06-01
    days on market $115,000 Active 312 DOM
12. 2026-05-31
    days on market $115,000 Active 311 DOM
13. 2025-07-24
    listed $115,000 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: $22,023
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,762
• − Management: −$1,762
• − HOA: −$10,032
• − Depreciation: −$3,345
• Taxable loss: −$3,620
• Est. tax savings @ 24.0%: +$869
• After-tax cash flow: $-1,302/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

1 event — show timeline

• 2025-07-24 Listed $115,000 MARMLS