5842 Crystal Shores Dr #105 · Delray Beach, FL 33437

$230,000

3 bd · 2.0 ba · 1,392 sqft · Condo public records · 43 Days on market

Built 1997 $964/mo HOA · 30% 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 +18.7/30.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• Appreciation +4.9/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Desirable 1st flr, prvt courtyard entrance, beautiful water view, 2 bed/2 bath+ den and florida rm. Designer built ins in the master and den. Neutral tiled living areas. Extra storage bin. Fabulous !!

Key facts

• $964 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Located in a senior community
• Financial info: Community of 1,632 units; Pets not allowed
• HOA & community: HOA with monthly fee; Association amenities include billiard room, clubhouse, fitness center, indoor pool, sauna, tennis courts, cafe/restaurant, internet included, pickleball courts, and street lights; HOA fee includes cable TV, insurance, grounds maintenance, security, trash, water, common areas, elevator, and recreation facility

Exterior

• Parking: 1 assigned parking space; Guest parking available
• Security: Key card entry; Gated community (no guard)
• Utilities: Public water; Public sewer; Cable available; Water service available
• Home design: Condominium; Resale condition; Faces east; Total of 4 stories; Builder model: Chardonnay
• Construction: CBS construction; Spanish tile roof
• Exterior features: Open patio; Patio

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Disposal; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Kitchen island; Walk-in closets; Split bedroom layout; Blinds on windows
• Laundry & utility: Laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $223k (3.0% 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.
• Market conditions: Rents rising (+1.3%/yr); 479 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).
• At $3,254/mo this rent would consume 48% of the median local household income ($81k/yr) (locally 902% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $1k of equity ($2k loan paydown + $-556 appreciation (-0.2% 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 43 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago; this cycle's ask has dropped $50k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $223,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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: 1.41% ✓
• Cap rate: 7.47%
• Cash-on-cash: 4.20%
• DSCR: 1.19
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.24% appreciation · 1.28% rent growth · sell at horizon

5-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $13
• Equity at exit: $64,019

10-year hold

• IRR: 4.1%
• Equity multiple: 1.40×
• Total profit: $25,914
• Equity at exit: $74,780

Cash invested: $64,400 (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 33437

• Home prices YoY: -0.1%
• Rents YoY: 1.3%
• Active inventory: 479
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $3,254 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$79 /mo · $953/yr
• Insurance: −$96
• HOA: −$964
• Vacancy / Maint / Mgmt: −$683
• Net cashflow: $226

Break-even live

Break-even rent $2,969

Max offer price $230,000

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12547 Imperial Isle Dr Boynton Beach, FL	2.0–3.0	2.0	1500	$4,500	$3.00	24d	2	0.13mi
5574 Royal Lake Cir Boynton Beach, FL	3.0	2.0	1658	$5,000	$3.02	15d	1	0.23mi
5952 Regal Glen Dr #103 Boynton Beach, FL	3.0	2.0	1813	$2,550	$1.41	24d	1	0.34mi
5850 Sugar Palm Ct Delray Beach, FL	2.0	2.0	1198	$3,300	$2.75	24d	1	0.36mi
12390 Summer Springs Dr Boynton Beach, FL	3.0	2.0	1861	$3,300	$1.77	24d	1	0.37mi
13921 Royal Palm Ct Unit D Delray Beach, FL	2.0	2.0	1205	$4,000	$3.32	8d	1	0.39mi
5335 Vernio Ln Boynton Beach, FL	3.0	2.0	1798	$3,700	$2.06	24d	1	0.41mi
12654 Via Ravenna Boynton Beach, FL	3.0	2.0	1729	$3,500	$2.02	24d	1	0.43mi
12299 Forest Greens Dr Boynton Beach, FL	2.0	2.0	1310	$2,450	$1.87	17d	1	0.43mi
13817 Royal Palm Ct Unit B Delray Beach, FL	2.0	2.0	1205	$3,200	$2.66	24d	1	0.48mi
13283 Pineapple Palm Ct Unit F Delray Beach, FL	2.0	2.0	1198	$2,100	$1.75	8d	1	0.61mi
13283 Pineapple Palm Ct Unit F Delray Beach, FL	2.0	2.0	1198	$2,100	$1.75	24d	1	0.61mi
12118 Country Greens Blvd Boynton Beach, FL	3.0	2.0	1566	$3,000	$1.92	11d	1	0.62mi
5675 Northpointe Ln Boynton Beach, FL	2.0	2.5	1163	$2,950	$2.54	24d	1	0.63mi
5675 Northpointe Ln Boynton Beach, FL	2.0	2.0	1163	$3,000	$2.58	3d	1	0.63mi
5694 Northpointe Ln Boynton Beach, FL	2.0	2.0	1125	$2,825	$2.51	8d	1	0.63mi
5734 Northpointe Ln Boynton Beach, FL	2.0	2.0	1125	$2,750	$2.44	15d	1	0.65mi
5734 Northpointe Ln Boynton Beach, FL	2.0	2.0	1125	$2,600	$2.31	4d	1	0.65mi
13431 Amber Waves Ave Delray Beach, FL	2.0	2.0	1390	$3,500	$2.52	24d	1	0.67mi
13297 Via Vulcanus Unit B Delray Beach, FL	2.0	2.0	1527	$3,000	$1.96	8d	1	0.70mi
13255 Royale Sabal Ct Delray Beach, FL	3.0	2.5	1618	$4,300	$2.66	24d	1	0.70mi
5449 Grande Palm Cir Delray Beach, FL	3.0	2.5	1618	$4,000	$2.47	24d	1	0.72mi
5449 Grande Palm Cir Delray Beach, FL	3.0	2.5	1618	$4,000	$2.47	17d	1	0.72mi
13759 Date Palm Ct Unit A Delray Beach, FL	2.0	2.0	1247	$3,500	$2.81	24d	1	0.77mi
5655 Via Delray Delray Beach, FL	2.0	2.0	1205	$2,200	$1.83	24d	1	0.78mi
5908 Via Delray Blvd Delray Beach, FL	2.0	2.0	1221	$2,000	$1.64	24d	1	0.78mi
5675 Queen Palm Ct Delray Beach, FL	2.0	2.0	1200	$2,600	$2.17	24d	1	0.78mi
5750 Fairway Park Ct #101 Boynton Beach, FL	3.0	2.0	1426	$1,850	$1.30	24d	1	0.81mi
13413 Via Vesta Unit A Delray Beach, FL	4.0	2.0	1196	$2,100	$1.76	17d	1	0.85mi
5260 Grande Palm Cir Delray Beach, FL	3.0	2.0	1464	$2,800	$1.91	24d	1	0.88mi
13653 Jubilee Ln Delray Beach, FL	3.0	2.0	1305	$3,450	$2.64	14d	1	0.91mi
5462 Via Delray #123 Delray Beach, FL	2.0	2.0	1200	$2,700	$2.25	21d	1	0.92mi
6599 Old Farm Trl #6599 Boynton Beach, FL	3.0	2.5	1441	$3,000	$2.08	24d	1	0.96mi
13657 Night Sky Pl Delray Beach, FL	2.0	2.0	1319	$3,200	$2.43	8d	1	0.98mi
13670 Via Flora Delray Beach, FL	2.0	2.0	1021	$1,400	$1.37	16d	1	0.98mi
13670 Via Flora Delray Beach, FL	2.0	2.0	1021	$1,400	$1.37	24d	1	0.98mi
13741 Flora Pl Unit B Delray Beach, FL	2.0	2.0	989	$2,100	$2.12	22d	1	1.01mi
6760 Heritage Grande #6304 Boynton Beach, FL	2.0	2.0	880	$2,000	$2.27	22d	1	1.01mi
13419 Noble Dr Delray Beach, FL	2.0	2.0	1410	$3,600	$2.55	17d	1	1.01mi
6768 Heritage Grande Boynton Beach, FL	2.0	2.0	1200	$1,800	$1.50	24d	1	1.03mi

HOA detail condo

• Monthly dues: $964 · $11,568/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $230,000 Active 43 DOM
2. 2026-06-17
   days on market $230,000 Active 42 DOM
3. 2026-06-16
   days on market $230,000 Active 41 DOM
4. 2026-06-15
   days on market $230,000 Active 40 DOM
5. 2026-06-13
   days on market $230,000 Active 38 DOM
6. 2026-06-09
   days on market $230,000 Active 34 DOM
7. 2026-06-08
   days on market $230,000 Active 33 DOM
8. 2026-06-07
   days on market $230,000 Active 32 DOM
9. 2026-06-04
   pricedays on market $230,000 Active 29 DOM
10. 2026-06-03
    days on market $250,000 Active 28 DOM
11. 2026-06-02
    days on market $250,000 Active 27 DOM
12. 2026-06-01
    days on market $250,000 Active 26 DOM
13. 2026-05-31
    days on market $250,000 Active 25 DOM
14. 2026-05-13
    price $250,000
15. 2026-05-08
    price $269,000
16. 2026-05-06
    listed $280,000 Active
17. 2024-06-24
    historical
18. 2024-05-15
    price $310,000
19. 2024-04-27
    listed $319,900 Active
20. 2017-03-29
    soldstatus $155,000
21. 2009-12-28
    soldstatus $120,000 200-char remark

    Show marketing remark (200 chars)

    Desirable 1st flr, prvt courtyard entrance, beautiful water view, 2 bed/2 bath+ den and florida rm. Designer built ins in the master and den. Neutral tiled living areas. Extra storage bin. Fabulous !!

22. 2009-01-16
    listed $125,000 200-char remark

    Show marketing remark (200 chars)

    Desirable 1st flr, prvt courtyard entrance, beautiful water view, 2 bed/2 bath+ den and florida rm. Designer built ins in the master and den. Neutral tiled living areas. Extra storage bin. Fabulous !!

23. 2002-12-30
    soldstatus $175,000

ⓘ 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: $953 · $79/mo
• Projected year-2 tax: $1,909 · $159/mo
• Expected delta: +$956/yr (+$80/mo · 100.3%)

ⓘ 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 9/10 Extreme 5 d/yr ≥106°F today · 18 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: $39,053
• − Mortgage interest: −$12,884
• − Property taxes: −$953
• − Insurance: −$1,150
• − Repairs & maintenance: −$3,124
• − Management: −$3,124
• − HOA: −$11,568
• − Depreciation: −$6,691
• Taxable loss: −$442
• Est. tax savings @ 24.0%: +$106
• After-tax cash flow: $2,812/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): 37,229
• Household income: $80,710
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 902.0

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 (68%)
• Race & ethnicity: White 68% Two or more races 13% Hispanic / Latino 12% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1% Dominican 1%
• Common ancestry: Scotch-Irish 8% Romanian 8% Hispanic 6%
• Foreign-born: 18% · Canada, Jamaica, Vietnam
• Languages at home: 78% English-only · Spanish 10% French/Haitian/Cajun 6% Other Indo-European 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: ▼ -0.24%
• Current HPI: 257.5891
• Rent YoY: ▲ 1.28%
• 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

+42.9% since first listed

10 events — show timeline

• 2026-05-13 Price Changed $250,000 Beaches MLS
• 2026-05-08 Price Changed $269,000 Beaches MLS
• 2026-05-06 Listed $280,000 Beaches MLS
• 2024-06-24 Listing Removed — Beaches MLS
• 2024-05-15 Price Changed $310,000 Beaches MLS
• 2024-04-27 Listed $319,900 Beaches MLS
• 2017-03-29 Sold (Public Records) $155,000 Public Records
• 2009-12-28 Sold (MLS) $120,000 Beaches MLS
• 2009-01-16 Listed $125,000 Beaches MLS
• 2002-12-30 Sold (Public Records) $175,000 Public Records

Property tax history

-6.8%/yr

Latest (2025): $953 · +5.3% YoY. Source: county tax records.