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14671 Bonaire Blvd #709 🌊 Lakefront
B- Composite 68.99
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 +20.4/30.0
  • ARV discount +15.0/15.0
  • 1% rule +7.5/10.0
  • DSCR +6.8/10.0
  • Appreciation +5.3/10.0
  • Schools +5.2/10.0
  • Livability +3.9/5.0
  • Rent growth +2.6/5.0
  • Condition / age +2.2/5.0

$125,000

14671 Bonaire Blvd #709 · Delray Beach, FL 33446
2 bd · 2.0 ba · 1,060 sqft · Condo public records · 8 Days on market
55+ age-restricted Built 1979 Fair condition $118/sqft · 33% below area Est $187k · 33% under · waterfront $720/mo HOA · 29% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Welcome to this beautifully maintained 2-bedroom, 2-bath penthouse condominium in the highly desirable Villages of Oriole Bonaire, one of Delray Beach's most sought-after active adult communities. Located on the 7th floor, this light and bright residence features a spacious split-bedroom floor plan with approximately 1,060 square feet of comfortable living space. Enjoy peaceful lake views from your private patio, creating the perfect setting for your morning coffee or evening relaxation.

Key facts

  • Fitness center
  • Clubhouse
  • Lake views

Tags

LAKE VIEWSPRIVATE PATIORESORT-STYLE AMENITIESCLUBHOUSESWIMMING POOLFITNESS CENTER

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2-bed/2.0-bath condo listed at $125k. Condition is rated fair.

Deal economics

  • At list price, monthly cash flow is $304 ($4k/yr) — positive.
  • The deal already cash-flows at list — no discount required.
  • Meets the 1% rule at list price ($2k rent vs $125k).
  • Cap rate 9.2% vs local median 4.2% 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: Hagen Road Elementary School (math 55% / reading 63%, grade B-, #722 of 2,144 statewide, top 34%, 773 students, 46% 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) — zoned schools at 48% FRL track the district average.
  • Market conditions: Rents flat; 706 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 52d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
  • This rent runs 37% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

  • In year one you build about $2k of equity ($864 loan paydown + $859 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 $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

  • Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
  • 5 sale attempts; this cycle's ask is 6479% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
  • Current owner paid $80k; list at $125k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

  • Watch-outs: HOA is 29% of rent.
  • Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 2→6/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer $125,000

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 1979 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  6. 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?
  7. 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?
  8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
  9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
  10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
  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
1.97%
Cap rate
9.21%
Cash-on-cash
10.41%
DSCR
1.46
GRM
4.2

CMA / ARV

ARV (median comp)
$186,870
List price
$125,000
Delta
-33.11%
Verdict
UNDERPRICED
Comps
20 within 1.0 mi

Projected returns pro-forma

0.69% appreciation · 0.51% rent growth · sell at horizon

5-year hold
IRR
8.4%
Equity multiple
1.41×
Total profit
$14,265
Equity at exit
$40,648
10-year hold
IRR
10.0%
Equity multiple
2.06×
Total profit
$37,047
Equity at exit
$52,485

Cash invested: $35,000 (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.

Active competition Active MLS

For sale now
9 active · 7 under contract
Median asking
$159,000 ($172/sqft)
Median days on market
106 d
This list price
33% of active listings are priced below it
ARV vs active asking
+2.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33446

Home prices YoY
0.3%
Rents YoY
0.5%
Active inventory
706
Price-to-rent
4.2×

Monthly cashflow live

Estimated rent
$2,468 high interval (Pro) →
Mortgage (P&I)
$656
Tax from tax record
$218 /mo · $2,618/yr
Insurance
$52
HOA
$720
Vacancy / Maint / Mgmt
$518
Net cashflow
$304

Break-even live

Break-even rent $2,083
Max offer price $125,000
Occupancy floor 83%

Sensitivity live

Price -10% $375 -5% $339 +0% $304 +5% $268 +10% $233
Rent -10% $109 -5% $206 +0% $304 +5% $401 +10% $499
Rate -1.0pp $367 -0.5pp $336 base $304 +0.5pp $271 +1.0pp $238

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
$31,250
Closing costs
$3,750
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
14671 Bonaire Blvd #505 Delray Beach, FL 1.0 2.0 925 $1,600 $1.73 73d 1 0.02mi
32 Abbey Ln #207 Delray Beach, FL 2.0 2.0 925 $2,500 $2.70 73d 1 0.09mi
14790 Bonaire Blvd #202 Delray Beach, FL 1.0 1.5 765 $1,750 $2.29 36d 1 0.09mi
31 Abbey Ln #207 Delray Beach, FL 2.0 2.0 925 $1,300 $1.41 73d 1 0.11mi
23 Abbey Ln #208 Delray Beach, FL 2.0 2.0 925 $1,500 $1.62 52d 1 0.17mi
21 Abbey Ln Delray Beach, FL 2.0 2.0 925 $1,700 $1.84 15d 1 0.17mi
21 Abbey Ln Delray Beach, FL 2.0 2.0 925 $1,700 $1.84 4d 1 0.17mi
6673 Moonlit Dr Delray Beach, FL 3.0 2.0 1288 $2,350 $1.82 10d 1 0.17mi
6673 Moonlit Dr Delray Beach, FL 3.0 2.0 1288 $2,500 $1.94 11d 1 0.17mi
14624 Three Ponds Trl Delray Beach, FL 3.0 2.0 1411 $3,250 $2.30 66d 1 0.17mi
21 Abbey Ln #107 Delray Beach, FL 2.0 2.0 925 $1,700 $1.84 7d 1 0.18mi
19 Abbey Ln #206 Delray Beach, FL 2.0 2.0 925 $1,750 $1.89 73d 1 0.20mi
14556 Wiley Range Rd Delray Beach, FL 2.0 2.0 1319 $3,000 $2.27 37d 1 0.21mi
14735 Wildflower Ln Delray Beach, FL 2.0 2.0 1073 $2,350 $2.19 37d 1 0.22mi
3 Abbey Ln #102 Delray Beach, FL 2.0 2.0 925 $2,500 $2.70 73d 1 0.22mi
20 Abbey Ln #102 Delray Beach, FL 2.0 2.0 925 $2,600 $2.81 73d 1 0.22mi
14475 Strathmore Ln Delray Beach, FL 2.0 2.0 1230 $2,225 $1.81 4d 2 0.22mi
14475 Strathmore Ln Delray Beach, FL 2.0 2.0 1230 $2,225 $1.81 29d 2 0.22mi
14475 Strathmore Ln Delray Beach, FL 2.0 2.0 1230 $2,325 $1.89 43d 2 0.22mi
14475 Strathmore Ln #602 Delray Beach, FL 2.0 2.0 1230 $2,550 $2.07 0d 1 0.23mi
14534 Highland Center Way Delray Beach, FL 2.0 2.0 1319 $3,400 $2.58 57d 1 0.25mi
6550 Country Wood Way Delray Beach, FL 3.0 2.0 1408 $4,000 $2.84 73d 1 0.27mi
6550 Country Wood Way Delray Beach, FL 3.0 2.0 1408 $4,000 $2.84 16d 1 0.27mi
6550 Country Wood Way Delray Beach, FL 3.0 2.0 1408 $4,000 $2.84 54d 1 0.27mi
14747 Wildflower Ln Delray Beach, FL 2.0 2.0 1229 $2,475 $2.01 37d 1 0.27mi
14832 Wildflower Ln Delray Beach, FL 2.0 2.0 1073 $2,500 $2.33 66d 1 0.27mi
15 Willowbrook Ln #204 Delray Beach, FL 2.0 2.0 1005 $2,999 $2.98 28d 1 0.28mi
6557 Country Wood Way Delray Beach, FL 3.0 2.0 1346 $4,600 $3.42 32d 1 0.28mi
15 Willowbrook Ln Delray Beach, FL 2.0 2.0 1005 $2,999 $2.98 16d 1 0.28mi
6813 Moonlit Dr Delray Beach, FL 2.0 2.0 1148 $2,150 $1.87 73d 1 0.30mi
7076 Huntington Ln #608 Delray Beach, FL 2.0 2.0 1230 $2,600 $2.11 73d 1 0.31mi
14 Willowbrook Ln #101 Delray Beach, FL 2.0 2.0 1005 $1,700 $1.69 54d 1 0.32mi
10 Willowbrook Ln Delray Beach, FL 2.0 2.0 1005 $2,100 $2.09 37d 1 0.32mi
10 Willowbrook Ln #105 Delray Beach, FL 2.0 2.0 1005 $2,100 $2.09 60d 1 0.32mi
6396 Country Wood Way Delray Beach, FL 2.0 2.0 1364 $2,600 $1.91 25d 1 0.34mi
14828 Golden Jax Ln Unit 12-103 Radiance Delray Beach, FL 2.0 2.0 1321 $3,950 $2.99 4d 1 0.36mi
14828 Golden Jax Ln Unit 8-105 Radiance Delray Beach, FL 2.0 2.0 1321 $3,948 $2.99 64d 1 0.36mi
14828 Golden Jax Ln Unit 6-105 Radiance Delray Beach, FL 2.0 2.0 1321 $4,148 $3.14 66d 1 0.36mi
14509 Sloan Ridge Dr Unit 10-104 Luminosa Delray Beach, FL 3.0 2.0 1328 $3,827 $2.88 73d 1 0.36mi
6372 Sleepy Willow Way Delray Beach, FL 2.0 2.0 1344 $3,975 $2.96 64d 1 0.36mi

Property features AI

Finance

Other
Pets not allowed
HOA & community
Monthly association feeAssociation amenities include pool, sauna, and trash chuteAssociation covers grounds and structure maintenance, sewer, elevator, and roof repairsHas associationSenior community

Exterior

Parking
Assigned parkingGuest parking (total 1 parking space)
Security
Other security features (unspecified)
Utilities
Public waterPublic sewerCable availableElectricity connectedPhone availableSewer connectedWater available
Home design
Condominium7-story buildingEast-facing
Construction
CBS constructionOther roof typeBuilding area approximately 1,060 (public records)
Exterior features
Screened patioPatioWaterfront property (no specific waterfront features listed)

Interior

Kitchen
DishwasherElectric rangeRefrigerator
Bedrooms
2 bedrooms on the main level
Flooring
Ceramic tile
Bathrooms
2 full bathrooms on the main level
Heating & cooling
Central electric heatingCentral electric cooling
Interior features
Split bedroom layout
Laundry & utility
In-unit laundry

HOA detail $720/mo · $8,640/yr condo

Assessments
None detected in remarks — confirm with the listing agent.

Listing history 26 events

  1. 2026-08-08
    days on market $125,000 Active 8 DOM
  2. 2026-08-06
    days on market $125,000 Active 6 DOM
  3. 2026-08-05
    days on market $125,000 Active 5 DOM
  4. 2026-08-04
    days on market $125,000 Active 4 DOM
  5. 2026-08-03
    days on marketlisting id $125,000 Active 3 DOM
  6. 2026-06-21
    days on market $125,000 Active 130 DOM
  7. 2026-06-18
    days on market $125,000 Active 127 DOM
  8. 2026-06-17
    days on market $125,000 Active 126 DOM
  9. 2026-06-16
    days on market $125,000 Active 125 DOM
  10. 2026-06-15
    days on market $125,000 Active 124 DOM
  11. 2026-06-13
    days on market $125,000 Active 122 DOM
  12. 2026-06-09
    days on market $125,000 Active 118 DOM
  13. 2026-06-07
    days on market $125,000 Active 116 DOM
  14. 2026-06-04
    days on market $125,000 Active 113 DOM
  15. 2026-06-03
    days on market $125,000 Active 112 DOM
  16. 2026-06-01
    days on market $125,000 Active 110 DOM
  17. 2026-06-01
    price $125,000 Active 109 DOM
  18. 2026-05-31
    days on market $129,500 Active 109 DOM
  19. 2026-03-02
    price $129,500
  20. 2026-02-11
    listed $139,500 Active
  21. 2025-12-24
    historical $2,200
  22. 2025-12-24
    historical
  23. 2025-08-02
    listed $2,200
  24. 2025-07-31
    listed $229,000 Active
  25. 2015-06-01
    soldstatus $79,500
  26. 1997-09-10
    soldstatus $48,000

ⓘ 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
$2,618 · $218/mo
Projected year-2 tax
$2,618 · $218/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) · 22% chance over 30 yrs
  • 🔥 Wildfire 1/10 Low
  • 🌡 Heat 8/10 Severe 2 d/yr ≥107°F today · 6 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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$29,613
− Mortgage interest
−$7,002
− Property taxes
−$2,618
− Insurance
−$625
− Repairs & maintenance
−$2,369
− Management
−$2,369
− HOA
−$8,640
− Depreciation
−$3,636
Taxable income
$2,353
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$565
After-tax cash flow
$3,080/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 · 9 photos

Fair 45/100 Cosmetic rehab Est. rehab $5,300–$15,900 screening

This 2-bedroom, 2-bathroom condo offers a lakefront view and is in fair condition with some minor repairs and maintenance needed. Painting and landscaping improvements can significantly boost its value.

Components & finishes AI

Flooring tile

Repairs flagged

  • Minor Paint — Paint appears faded in some areas
  • Minor Landscaping — Trees and grass appear somewhat unkempt

Value-add opportunities

  • Resale Painting and touch-ups — Fresh paint can significantly improve the home's curb appeal and value
  • Both Landscaping improvements — Well-maintained landscaping can enhance both resale and rental value

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 52/100

Zoned Schools

Elementary Hagen Road Elementary School B- FL #722/2,144 Nat'l #8,048/41,679 Middle Carver Middle School F FL #486/571 Nat'l #9,545/14,009 High Spanish River Community High School B FL #63/667 Nat'l #2,354/17,239

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
B Composite livability gradescore 77/100

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 · 1,637,487 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
24% of renters

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

Price history

-96.0% since first listed
12 events — show timeline
  • 2026-08-01 Listed for Rent $1,900 RMLSFL
  • 2026-07-31 Listed $125,000 Beaches MLS
  • 2026-06-22 Listing Removed MARMLS
  • 2026-05-31 Price Changed $125,000 MARMLS
  • 2026-03-02 Price Changed $129,500 MARMLS
  • 2026-02-11 Listed $139,500 MARMLS
  • 2025-12-24 Rental Removed $2,200 RMLSFL
  • 2025-12-24 Listing Removed Beaches MLS
  • 2025-08-02 Listed for Rent $2,200 RMLSFL
  • 2025-07-31 Listed $229,000 Beaches MLS
  • 2015-06-01 Sold (Public Records) $79,500 Public Records
  • 1997-09-10 Sold (Public Records) $48,000 Public Records

Property tax history

+15.4%/yr

Latest (2025): $2,618 · +4.1% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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