293 Seville M #293 · Delray Beach, FL 33446

$119,000

2 bd · 2.0 ba · 880 sqft · Condo · 194 Days on market

Built 1973 $824/mo HOA · 45% 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 +6.4/30.0
• 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 +0.7/10.0

Listing remarks

CORNER ONE STORY VILLA, 55+ COMMUNITY , CLOSE TO MAIN CLUB HOUSE; IMPACT WINDOWS, ALL TILED, NEW APPLIANCES, GRANITE COUNTER TOPS AND BACKSPLASH IN KITCHEN, FEW YEARS OLD CENTRAL AIR CONDITIONING, GLASS ENCLOSED PATIO WITH WALL AIR CONDITIONIG, RESORT STYLE AMENITIES: CLUB HOUSE, GOLF, TENNIS COURTS , FITNESS CENTER, PICKLEBALL, THEATER, INDOOR AND OUTDOOR POOLS, CAFES, BILLIARDS, COURTESY BUS SERVICE, SHOWS, MOVIES AND CLUB ACTIVITIES, FEW MINUTES TO DELRAY DOWNTOWN, 5 MILES TO BEACH. 650 MINIMUM CREDIT SCORE, $2,000 CAPITAL CONTRIBUTION /PROCESSING FEE TO KINGS POINT WITH SUBMISSION OF APPLICATION

Key facts

• Glass enclosed patio
• Granite counter tops
• 5 miles to beach

Tags

• IMPACT WINDOWS
• GRANITE COUNTER TOPS
• GLASS ENCLOSED PATIO
• RESORT STYLE AMENITIES
• FEW MINUTES TO DELRAY DOWNTOWN
• 5 MILES TO BEACH

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee; Association fee includes maintenance (grounds & structure), parking, pest control, pool(s), sewer, water, trash, and golf; Community amenities: clubhouse, fitness center, billiard room, pool, tennis courts, pickleball, golf course; Golf course community; Senior community

Exterior

• Parking: Assigned parking; Guest parking; One assigned space
• Security: Security guard
• Utilities: Cable available
• Home design: Attached property; Single-story; Entry on level 1
• Construction: Modular/prefab construction; Resale property
• Exterior features: Patio; Heated pool

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Wall/window unit(s)
• Interior features: First floor entry; Bedroom on main level; Walk-in closet(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $-206 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $89k (25.0% below list).
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $89k (25.0% 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 ($823 loan paydown + $817 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 194 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 45% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,260 (25.0% 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 194 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — 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: 1.53% ✓
• Cap rate: 4.22%
• Cash-on-cash: -7.40%
• DSCR: 0.67
• GRM: 5.4

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: -10.4%
• Equity multiple: 0.50×
• Total profit: $-16,601
• Equity at exit: $38,697

10-year hold

• IRR: -7.4%
• Equity multiple: 0.21×
• Total profit: $-26,404
• Equity at exit: $49,966

Cash invested: $33,320 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,824 high
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$824
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $-206

Break-even live

Break-even rent $2,084

Max offer price $89,260

Occupancy floor —

Sensitivity live

Price	-10% $-123	-5% $-164	+0% $-206	+5% $-247	+10% $-288
Rent	-10% $-350	-5% $-278	+0% $-206	+5% $-133	+10% $-61
Rate	-1.0pp $-146	-0.5pp $-175	base $-206	+0.5pp $-236	+1.0pp $-268

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
322 Seville N Delray Beach, FL	1.0	1.5	720	$1,495	$2.08	26d	1	0.03mi
318 Seville N #318 Delray Beach, FL	1.0	1.5	720	$1,495	$2.08	26d	1	0.05mi
242 Seville K Unit 242 Delray Beach, FL	1.0	1.5	720	$1,380	$1.92	26d	1	0.08mi
175 Valencia H Delray Beach, FL	1.0	1.5	726	$1,500	$2.07	9d	1	0.14mi
185 Valencia H Delray Beach, FL	2.0	2.0	883	$1,700	$1.93	26d	1	0.14mi
154 Seville G Delray Beach, FL	1.0	1.0	720	$1,490	$2.07	16d	1	0.15mi
126 Seville E Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	20d	1	0.19mi
111 Normandy Ln Delray Beach, FL	1.0	1.5	726	$1,450	$2.00	3d	1	0.20mi
111 Normandy Ln Delray Beach, FL	1.0	1.5	726	$1,450	$2.00	1d	1	0.20mi
92 Seville Blvd Delray Beach, FL	2.0	2.0	880	$1,895	$2.15	26d	1	0.21mi
148 Waterford D Unit 148 Delray Beach, FL	2.0	2.0	883	$1,900	$2.15	19d	1	0.24mi
43 Waterford B Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	26d	1	0.27mi
153 Monaco D Delray Beach, FL	2.0	2.0	880	$1,750	$1.99	18d	1	0.29mi
195 Monaco E Delray Beach, FL	1.0	1.5	728	$1,550	$2.13	26d	1	0.30mi
102 Waterford D Unit 102 Delray Beach, FL	1.0	1.5	720	$1,900	$2.64	26d	1	0.30mi
7 Piedmont a Delray Beach, FL	2.0	2.0	910	$2,200	$2.42	4d	1	0.31mi
401 Monaco Way Unit 401 Delray Beach, FL	2.0	2.0	920	$1,950	$2.12	26d	1	0.34mi
711 Monaco O Delray Beach, FL	1.0	1.5	720	$1,550	$2.15	26d	1	0.34mi
581 Monaco Blvd Unit 581 Delray Beach, FL	2.0	2.0	880	$2,000	$2.27	26d	1	0.34mi
459 Monaco Blvd Unit 459 Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	1d	1	0.34mi
451 Monaco Blvd Unit J Delray Beach, FL	1.0	1.5	720	$1,599	$2.22	26d	1	0.34mi
18 Piedmont a Delray Beach, FL	2.0	2.0	910	$1,950	$2.14	1d	1	0.34mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	14d	1	0.35mi
399 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	20d	1	0.35mi
482 Monaco Blvd #482 Delray Beach, FL	1.0	1.5	726	$1,400	$1.93	26d	1	0.35mi
368 Piedmont H Unit H Delray Beach, FL	2.0	2.0	910	$1,850	$2.03	26d	1	0.35mi
29 Flanders a Delray Beach, FL	2.0	2.0	760	$1,900	$2.50	26d	1	0.35mi
900 Normandy S Delray Beach, FL	2.0	2.0	907	$1,500	$1.65	26d	1	0.36mi
122 Normandy C Delray Beach, FL	2.0	2.0	907	$1,450	$1.60	6d	1	0.36mi
122 Normandy C Delray Beach, FL	2.0	2.0	907	$1,500	$1.65	23d	1	0.36mi
394 Normandy I Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	26d	1	0.36mi
122 Normandy C Delray Beach, FL	2.0	2.0	907	$1,450	$1.60	13d	1	0.36mi
70 Normandy B Delray Beach, FL	2.0	2.0	907	$1,695	$1.87	26d	1	0.36mi
137 Normandy Ln Unit 137 Delray Beach, FL	2.0	2.0	906	$1,895	$2.09	26d	1	0.36mi
185 Normandy D Delray Beach, FL	1.0	1.5	760	$1,499	$1.97	15d	1	0.36mi
226 Normandy E Delray Beach, FL	1.0	1.5	760	$1,200	$1.58	26d	1	0.36mi
705 Normandy Ln Unit 705 Delray Beach, FL	2.0	2.0	907	$2,600	$2.87	26d	1	0.36mi
864 Normandy Ln Unit 864 Delray Beach, FL	1.0	1.5	760	$1,750	$2.30	26d	1	0.36mi
816 Normandy Q Delray Beach, FL	1.0	1.5	760	$1,475	$1.94	4d	1	0.36mi
825 Normandy R Delray Beach, FL	2.0	2.0	905	$3,350	$3.70	19d	1	0.36mi

HOA detail condo

• Monthly dues: $824 · $9,888/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   days on market $119,000 Active 194 DOM
2. 2026-06-18
   days on market $119,000 Active 191 DOM
3. 2026-06-17
   days on market $119,000 Active 190 DOM
4. 2026-06-16
   days on market $119,000 Active 189 DOM
5. 2026-06-15
   days on market $119,000 Active 188 DOM
6. 2026-06-13
   days on market $119,000 Active 186 DOM
7. 2026-06-09
   days on market $119,000 Active 182 DOM
8. 2026-06-07
   days on market $119,000 Active 180 DOM
9. 2026-06-04
   days on market $119,000 Active 177 DOM
10. 2026-06-03
    days on market $119,000 Active 176 DOM
11. 2026-06-01
    days on market $119,000 Active 174 DOM
12. 2026-05-31
    days on market $119,000 Active 173 DOM
13. 2026-01-08
    price $119,000
14. 2025-12-09
    listed $129,000 Active
15. 2013-09-22
    historical
16. 2001-08-23
    listed $45,000

ⓘ 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 · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,886
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$1,751
• − Management: −$1,751
• − HOA: −$9,888
• − Depreciation: −$3,462
• Taxable loss: −$4,011
• Est. tax savings @ 24.0%: +$963
• After-tax cash flow: $-1,504/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

+164.4% since first listed

4 events — show timeline

• 2026-01-08 Price Changed $119,000 MARMLS
• 2025-12-09 Listed $129,000 MARMLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2001-08-23 Listed $45,000 Beaches MLS