116 Tuscany B #116 · Delray Beach, FL 33446

$132,000

2 bd · 2.0 ba · 880 sqft · Condo · 211 Days on market

Built 1973 $708/mo HOA · 35% 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 +12.4/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• DSCR +3.7/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Listing remarks

MOST AFFORDABLE 2-BEDROOM IN TUSCANY! Discover this first-floor condo in the highly desirable 55+ community of Kings Point. This first floor, 2-bedroom corner unit bright and airy residence boasts plenty of natural lighting and gentle breezes. The open-concept layout features granite countertops and bathrooms, sleek tile flooring, and recessed lighting throughout. Residents of Kings Point enjoy an impressive array of amenities, including a newly renovated clubhouse, indoor and outdoor pools, tennis, golf, pickleball, a grand theater, social clubs, and countless classes and activities. A convenient shuttle service provides easy access to nearby shopping centers and the vibrant dining and ent

Key facts

• Tennis
• Golf
• First-floor condo

Tags

• FIRST-FLOOR CONDO
• GRANITE COUNTERTOPS
• INDOOR AND OUTDOOR POOLS
• TENNIS
• GOLF
• PICKLEBALL

Property features AI

Finance

• Financial info: Lease considered; Pets allowed with restrictions or conditions
• HOA & community: Monthly association fee; Association covers amenities, common areas, and cable TV; Community amenities include basketball court, barbecue, picnic area, pool, spa/hot tub, tennis courts, and trails; Senior community

Exterior

• Parking: Two or more parking spaces
• Security: Key card entry; Security guard
• Home design: Attached property; 2 stories; Entry on level 1; Effective year built listed
• Construction: Block construction
• Exterior features: Barbecue; Tennis courts; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Icemaker; Microwave
• Flooring: Ceramic tile; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: First-floor entry; Bedroom on main level
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $132k.

Deal economics

• At list price, monthly cash flow is $-22 ($-267/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (2.4% below list).
• Meets the 1% rule at list price ($2k rent vs $132k).
• Recommended offer: $116k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.1% 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 flat; 583 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 30% 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 ($913 loan paydown + $907 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 211 days — a 12% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 27y ago; this cycle's ask is 7665% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,160 (12.0% 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 211 days. Have you received any prior offers? Is the seller open to a 12% 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. 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.
11. 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.
12. 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: 6.09%
• Cash-on-cash: -0.72%
• DSCR: 0.97
• 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: -3.1%
• Equity multiple: 0.85×
• Total profit: $-5,439
• Equity at exit: $42,924

10-year hold

• IRR: -0.4%
• Equity multiple: 0.96×
• Total profit: $-1,630
• Equity at exit: $55,424

Cash invested: $36,960 (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: 583
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,023 high
• Mortgage (P&I): −$692
• Tax est. 1.5%: −$165 /mo · $1,980/yr
• Insurance: −$55
• HOA: −$708
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $-22

Break-even live

Break-even rent $2,051

Max offer price $128,777

Occupancy floor 96%

Sensitivity live

Price	-10% $69	-5% $23	+0% $-22	+5% $-68	+10% $-113
Rent	-10% $-182	-5% $-102	+0% $-22	+5% $58	+10% $138
Rate	-1.0pp $44	-0.5pp $11	base $-22	+0.5pp $-56	+1.0pp $-91

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: $33,000
• Closing costs: $3,960
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
163 Tuscany C Unit C Delray Beach, FL	1.0	1.5	720	$1,300	$1.81	16d	1	0.13mi
15155 Michelangelo Blvd Delray Beach, FL	2.0	2.0	1079	$2,288	$2.12	9d	2	0.13mi
15155 Michelangelo Blvd Delray Beach, FL	2.0	2.0	1079	$2,288	$2.12	0d	2	0.13mi
15155 Michelangelo Blvd #106 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	21d	1	0.14mi
15155 Michelangelo Blvd #106 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	25d	1	0.14mi
213 Waterford I Delray Beach, FL	2.0	2.0	880	$1,600	$1.82	25d	1	0.14mi
102 Waterford D Unit 102 Delray Beach, FL	1.0	1.5	720	$1,900	$2.64	25d	1	0.23mi
15065 Michelangelo Blvd #105 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	3d	1	0.24mi
15065 Michelangelo Blvd #105 Delray Beach, FL	2.0	2.0	1079	$2,400	$2.22	23d	1	0.24mi
28 Seville B Delray Beach, FL	2.0	2.0	883	$1,950	$2.21	12d	1	0.25mi
43 Waterford B Delray Beach, FL	1.0	1.5	720	$1,400	$1.94	25d	1	0.25mi
15035 Michelangelo Blvd #202 Delray Beach, FL	1.0	1.0	700	$1,895	$2.71	0d	1	0.26mi
15035 Michelangelo Blvd #103 Delray Beach, FL	2.0	2.0	1079	$2,000	$1.85	25d	1	0.26mi
15055 Michelangelo Blvd Delray Beach, FL	2.0–3.0	2.0	1158	$2,125	$1.83	23d	2	0.28mi
148 Waterford D Unit 148 Delray Beach, FL	2.0	2.0	883	$1,900	$2.15	18d	1	0.29mi
189 Seville Ter Unit 189 Delray Beach, FL	2.0	2.0	880	$1,900	$2.16	25d	1	0.29mi
10 Willowbrook Ln #105 Delray Beach, FL	2.0	2.0	1005	$2,100	$2.09	12d	1	0.33mi
14896 Bal Moral Ln Delray Beach, FL	2.0	2.0	1040	$2,200	$2.12	25d	1	0.34mi
92 Seville Blvd Delray Beach, FL	2.0	2.0	880	$1,895	$2.15	25d	1	0.39mi
14 Willowbrook Ln #101 Delray Beach, FL	2.0	2.0	1005	$1,700	$1.69	6d	1	0.40mi
14898 Wedgefield Dr #202 Delray Beach, FL	2.0	2.0	1103	$2,000	$1.81	18d	1	0.41mi
14895 Builtmore Way Delray Beach, FL	2.0	2.0	1103	$1,800	$1.63	25d	1	0.41mi
3 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,500	$2.70	25d	1	0.42mi
6 Brittany a Delray Beach, FL	1.0	1.5	726	$1,400	$1.93	0d	1	0.42mi
14723 Cumberland Dr Unit 404 B Delray Beach, FL	1.0	2.0	912	$1,850	$2.03	25d	1	0.43mi
242 Seville K Unit 242 Delray Beach, FL	1.0	1.5	720	$1,380	$1.92	25d	1	0.45mi
19 Abbey Ln #206 Delray Beach, FL	2.0	2.0	925	$1,750	$1.89	25d	1	0.46mi
154 Seville G Delray Beach, FL	1.0	1.0	720	$1,490	$2.07	16d	1	0.47mi
419 Brittany I Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	25d	1	0.47mi
233 Brittany F Unit F Delray Beach, FL	2.0	2.0	988	$1,600	$1.62	25d	1	0.47mi
270 Brittany F Unit F Delray Beach, FL	1.0	1.5	720	$1,600	$2.22	9d	1	0.47mi
568 Brittany L Delray Beach, FL	2.0	2.0	883	$1,950	$2.21	25d	1	0.47mi
537 Brittany K Unit 537 Delray Beach, FL	2.0	2.0	880	$1,700	$1.93	25d	1	0.47mi
520 Brittany K Unit K Delray Beach, FL	2.0	2.0	880	$1,400	$1.59	0d	1	0.47mi
292 Brittany Ave #292 Delray Beach, FL	2.0	2.0	880	$1,700	$1.93	5d	1	0.47mi
159 Brittany Ter Unit 159 Delray Beach, FL	1.0	1.5	720	$1,795	$2.49	18d	1	0.47mi
564 Brittany L Delray Beach, FL	2.0	2.5	880	$1,800	$2.05	25d	1	0.47mi
233 Brittany F Unit F Delray Beach, FL	2.0	2.0	988	$1,600	$1.62	9d	1	0.47mi
260 Brittany F Unit F Delray Beach, FL	2.0	2.0	880	$1,600	$1.82	3d	1	0.47mi
126 Seville E Delray Beach, FL	1.0	1.5	720	$1,450	$2.01	20d	1	0.47mi

HOA detail condo

• Monthly dues: $708 · $8,496/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-21
   days on market $132,000 Active 211 DOM
2. 2026-06-18
   days on market $132,000 Active 208 DOM
3. 2026-06-17
   days on market $132,000 Active 207 DOM
4. 2026-06-16
   days on market $132,000 Active 206 DOM
5. 2026-06-15
   days on market $132,000 Active 205 DOM
6. 2026-06-13
   days on market $132,000 Active 203 DOM
7. 2026-06-09
   days on market $132,000 Active 199 DOM
8. 2026-06-07
   days on market $132,000 Active 197 DOM
9. 2026-06-04
   days on market $132,000 Active 194 DOM
10. 2026-06-03
    days on market $132,000 Active 193 DOM
11. 2026-06-01
    days on market $132,000 Active 191 DOM
12. 2026-05-31
    days on market $132,000 Active 190 DOM
13. 2026-05-21
    status Active
14. 2026-05-20
    historical
15. 2026-04-13
    price $132,000
16. 2026-03-14
    historical $1,700
17. 2026-01-01
    listed $1,700
18. 2025-12-21
    historical $1,700
19. 2025-12-18
    listed $1,700
20. 2025-12-09
    historical $1,700
21. 2025-11-21
    listed $145,000 Active
22. 2025-11-19
    listed $1,700
23. 2023-01-13
    historical
24. 2022-10-13
    listed $205,000 Active
25. 2013-09-22
    historical
26. 1999-08-04
    listed $31,900

ⓘ 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 5 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,273
• − Mortgage interest: −$7,394
• − Property taxes: −$1,980
• − Insurance: −$660
• − Repairs & maintenance: −$1,942
• − Management: −$1,942
• − HOA: −$8,496
• − Depreciation: −$3,840
• Taxable loss: −$1,981
• Est. tax savings @ 24.0%: +$475
• After-tax cash flow: $208/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

+313.8% since first listed

14 events — show timeline

• 2026-05-21 Relisted — MARMLS
• 2026-05-20 Listing Removed — MARMLS
• 2026-04-13 Price Changed $132,000 MARMLS
• 2026-03-14 Rental Removed $1,700 MARMLS
• 2026-01-01 Listed for Rent $1,700 MARMLS
• 2025-12-21 Rental Removed $1,700 MARMLS
• 2025-12-18 Listed for Rent $1,700 MARMLS
• 2025-12-09 Rental Removed $1,700 MARMLS
• 2025-11-21 Listed $145,000 MARMLS
• 2025-11-19 Listed for Rent $1,700 MARMLS
• 2023-01-13 Listing Removed — MARMLS
• 2022-10-13 Listed $205,000 MARMLS
• 2013-09-22 Listing Removed — Beaches MLS
• 1999-08-04 Listed $31,900 Beaches MLS