510 High Point Dr Unit D · Delray Beach, FL 33445

$189,000

2 bd · 2.0 ba · 1,295 sqft · Condo public records · 219 Days on market

Built 1973 $550/mo HOA · 21% of rent

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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 +18.6/30.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover this charmingly updated corner villa located in High Point Delray. Bright and open, it features an open-concept kitchen equipped with stainless steel appliances and an eat-in bar, which flows seamlessly into the spacious dining and living areas. The enclosed patio offers extra living space to unwind and soak in the Florida lifestyle. The primary suite includes a walk-in closet and an updated bathroom, while the guest bedroom provides ample space for visitors. With a light, airy feel throughout, this villa combines comfort and convenience in the heart of Delray Beach, with convenient access to fine-dining and shopping nearby. High Point is an active community featuring a pool, clubh

Key facts

• Open-concept kitchen
• Walk-in closet
• Pool

Tags

• OPEN-CONCEPT KITCHEN
• STAINLESS STEEL APPLIANCES
• ENCLOSED PATIO
• WALK-IN CLOSET
• UPDATED BATHROOM
• POOL

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: Community association with on-site manager; Monthly HOA fee; Association amenities include clubhouse, tennis courts, community room, internet included, street lights; HOA covers insurance, grounds maintenance, water, and common areas; Senior community

Exterior

• Parking: Assigned and open parking; One open parking space
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Villa; Single-story; Entry-level living area; Facing east
• Construction: Concrete/CBS construction; Composition/shingle roof; Resale property; Built on a foundation (public records)
• Exterior features: Open patio; Patio

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Built-in features; Walk-in closet(s); Blinds on windows

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $189k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $189k).
• Recommended offer: $166k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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: Crosspointe Elementary School (math 36% / reading 45%, grade F, #1,471 of 2,144 statewide, top 69%, 652 students, 75% FRL); Atlantic High School (math 28% / reading 52%, grade F, #296 of 667 statewide, top 45%, 1,889 students, 59% FRL) — zoned schools average 67% FRL vs 52% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 354 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• This rent runs 41% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 219 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 219 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 1973 — 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: 1.40% ✓
• Cap rate: 7.45%
• Cash-on-cash: 4.15%
• DSCR: 1.18
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.83% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.59×
• Total profit: $-21,644
• Equity at exit: $28,181

10-year hold

• IRR: -4.5%
• Equity multiple: 0.73×
• Total profit: $-14,522
• Equity at exit: $16,341

Cash invested: $52,920 (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 33445

• Rents YoY: 1.8%
• Active inventory: 354
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,647 high
• Mortgage (P&I): −$991
• Tax from tax record: −$288 /mo · $3,458/yr
• Insurance: −$79
• HOA: −$550
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $183

Break-even live

Break-even rent $2,415

Max offer price $189,000

Occupancy floor 88%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
512 High Point Dr Unit C Delray Beach, FL	1.0	2.0	994	$2,100	$2.11	19d	1	0.04mi
405 High Point Blvd Unit C Delray Beach, FL	1.0	1.5	994	$1,500	$1.51	24d	1	0.10mi
707 High Point Blvd N Unit C Delray Beach, FL	1.0	1.5	994	$1,600	$1.61	24d	1	0.12mi
775 North Dr Unit A Delray Beach, FL	2.0	2.0	1175	$2,000	$1.70	10d	1	0.19mi
212 High Point Ter W Unit C Delray Beach, FL	1.0	1.5	1122	$2,000	$1.78	22d	1	0.29mi
215 NW 40th Ave Delray Beach, FL	3.0	2.0	1240	$3,350	$2.70	24d	1	0.29mi
2513 Coral Trace Pl Delray Beach, FL	3.0	2.5	1632	$3,500	$2.14	24d	1	0.31mi
1152 Circle Dr Unit D Delray Beach, FL	2.0	2.0	1200	$2,000	$1.67	12d	1	0.34mi
1152 Circle Dr Unit D Delray Beach, FL	2.0	2.0	1200	$2,000	$1.67	24d	1	0.34mi
1155 South Drive Cir Unit A Delray Beach, FL	2.0	2.0	1080	$2,195	$2.03	24d	1	0.34mi
328 W Coral Trace Cir Unit 328 Delray Beach, FL	3.0	2.5	1632	$3,500	$2.14	10d	1	0.35mi
328 W Coral Trace Cir Delray Beach, FL	3.0	2.5	1632	$3,500	$2.14	22d	1	0.35mi
2480 S Coral Trace Cir Delray Beach, FL	2.0	2.0	1379	$2,900	$2.10	7d	1	0.36mi
1142 Circle Ter W Unit C Delray Beach, FL	1.0	1.5	1080	$1,700	$1.57	2d	1	0.38mi
227 Coral Trace Ln Unit 227 Delray Beach, FL	2.0	2.0	1376	$3,100	$2.25	24d	1	0.38mi
2450 S Coral Trace Cir Delray Beach, FL	3.0	2.0	1576	$2,975	$1.89	24d	1	0.39mi
315 Coral Trace Ln Delray Beach, FL	3.0	2.0	1576	$3,800	$2.41	7d	1	0.42mi
125 Via D Este Delray Beach, FL	1.0–3.0	1.0–2.0	1156	$3,290	$2.85	1d	13	0.48mi
3935 Village Dr Delray Beach, FL	3.0	3.0	1326	$2,700	$2.04	5d	1	0.49mi
3935 Village Dr Unit A Delray Beach, FL	3.0	3.0	1326	$2,700	$2.04	7d	1	0.49mi
305 SW 28th Ave Delray Beach, FL	2.0	2.0	1369	$4,300	$3.14	13d	1	0.53mi
1252 Club Dr W Unit D Delray Beach, FL	2.0	2.0	1137	$2,100	$1.85	24d	1	0.54mi
1252 Club Dr W Unit D Delray Beach, FL	2.0	2.0	1137	$2,100	$1.85	5d	1	0.54mi
354 SW 28th Ave Delray Beach, FL	2.0	2.0	1369	$5,450	$3.98	24d	1	0.56mi
378 SW 28th Ave Delray Beach, FL	3.0	2.0	1519	$3,500	$2.30	10d	1	0.58mi
2941 Angler Dr Delray Beach, FL	3.0	2.0	1578	$5,000	$3.17	24d	1	0.59mi
2712 Lake Ida Rd Delray Beach, FL	3.0	2.0	1604	$4,000	$2.49	7d	1	0.62mi
4310 Village Dr Unit D Delray Beach, FL	3.0	3.0	1326	$2,600	$1.96	24d	1	0.65mi
2622 NW 7th Ct Delray Beach, FL	2.0	2.5	1384	$2,750	$1.99	24d	1	0.67mi
4515 NW 3rd Ct Unit C Delray Beach, FL	1.0	2.0	1080	$1,900	$1.76	24d	1	0.72mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	24d	1	0.75mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	17d	1	0.75mi
500 N Congress Ave Delray Beach, FL	2.0–3.0	1.0–2.0	989	$2,295	$2.32	1d	6	0.76mi
3996 NW 7th Ct Delray Beach, FL	3.0	2.0	1480	$5,000	$3.38	24d	1	0.76mi
872 NW 29th Ave Unit A Delray Beach, FL	2.0	2.0	1188	$2,700	$2.27	24d	1	0.78mi
250 Congress Park Dr Delray Beach, FL	1.0–2.0	1.0–2.0	972	$2,950	$3.03	3d	6	0.84mi
945 Sunflower Ave Delray Beach, FL	3.0	2.0	1755	$4,500	$2.56	7d	1	0.87mi
4510 NW 2nd St Unit A Delray Beach, FL	2.0	2.0	1080	$1,800	$1.67	24d	1	0.87mi
1720 Depot Ave Delray Beach, FL	2.0	2.0	1199	$2,874	$2.40	13d	1	0.89mi
1720 Depot Ave Delray Beach, FL	2.0	2.0	1189	$2,650	$2.23	24d	1	0.89mi

HOA detail condo

• Monthly dues: $550 · $6,600/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $189,000 Active 219 DOM
2. 2026-06-17
   days on market $189,000 Active 218 DOM
3. 2026-06-16
   days on market $189,000 Active 217 DOM
4. 2026-06-15
   days on market $189,000 Active 216 DOM
5. 2026-06-13
   days on market $189,000 Active 214 DOM
6. 2026-06-09
   days on market $189,000 Active 210 DOM
7. 2026-06-07
   days on market $189,000 Active 208 DOM
8. 2026-06-04
   days on market $189,000 Active 205 DOM
9. 2026-06-03
   days on market $189,000 Active 204 DOM
10. 2026-06-01
    days on market $189,000 Active 202 DOM
11. 2026-05-31
    days on market $189,000 Active 201 DOM
12. 2026-05-04
    status Active
13. 2026-04-30
    historical
14. 2026-04-08
    price $189,000
15. 2026-01-27
    price $199,900
16. 2025-12-11
    price $206,000
17. 2025-11-07
    listed $219,000 Active
18. 2023-12-20
    soldstatus $200,000
19. 2022-04-14
    soldstatus $150,000
20. 1999-04-28
    soldstatus $43,000

ⓘ 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: $3,458 · $288/mo
• Projected year-2 tax: $3,458 · $288/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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 28 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: $31,762
• − Mortgage interest: −$10,587
• − Property taxes: −$3,458
• − Insurance: −$945
• − Repairs & maintenance: −$2,541
• − Management: −$2,541
• − HOA: −$6,600
• − Depreciation: −$5,498
• Taxable loss: −$408
• Est. tax savings @ 24.0%: +$98
• After-tax cash flow: $2,293/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

• Census place: Delray Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 123,167
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,122
• Household income: $78,163
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1649.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 55% Black 24% Hispanic / Latino 11% Two or more races 11% Asian 4%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2%
• Common ancestry: Hispanic 14% Romanian 3% Scotch-Irish 3%
• Foreign-born: 27% · Canada, Jamaica, Dominican Republic
• Languages at home: 66% English-only · French/Haitian/Cajun 18% Spanish 9% Other Indo-European 4%

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: ▼ -258.16%
• Current HPI: 349.5505
• Rent YoY: ▲ 1.83%
• 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

+339.5% since first listed

9 events — show timeline

• 2026-05-04 Relisted — Beaches MLS
• 2026-04-30 Listing Removed — Beaches MLS
• 2026-04-08 Price Changed $189,000 Beaches MLS
• 2026-01-27 Price Changed $199,900 Beaches MLS
• 2025-12-11 Price Changed $206,000 Beaches MLS
• 2025-11-07 Listed $219,000 Beaches MLS
• 2023-12-20 Sold (Public Records) $200,000 Public Records
• 2022-04-14 Sold (Public Records) $150,000 Public Records
• 1999-04-28 Sold (Public Records) $43,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $3,458 · +3.4% YoY. Source: county tax records.