5869 Sugar Palm Ct Unit C · Delray Beach, FL 33484

$199,000

2 bd · 2.0 ba · 1,383 sqft · Condo public records · 90 Days on market

Built 1980 $660/mo HOA · 22% of rent

---

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 +25.3/30.0
• 1% rule +9.7/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

New Resort style Clubhouse. Corner unit 2BR/2BA 1st floor condo in a quiet court with a beautiful calm water view. The main bedroom complete with on-suite & walk-in closet. Newer A/C. Remodeled bathrooms, One of Delray Beach's most desired and vibrant 55+ communities. Enjoy the brand new state of the art clubhouse which includes heated pools (club pool, Lap pool, baby pool) café, tennis with classes, instructor, leagues, pickleball, fitness center, billiard room, card room, clubs, multi purpose room and other activities. Close to all Delray Beach has to offer, from pristine beaches to all types of restaurants, shopping, night life, and art shows, close to airports.

Key facts

• Heated pools
• Fitness center
• Calm water view

Tags

• RESORT STYLE CLUBHOUSE
• CALM WATER VIEW
• STATE OF THE ART CLUBHOUSE
• HEATED POOLS
• FITNESS CENTER
• BILLIARD ROOM

Property features AI

Finance

• Other: Pets allowed with breed restrictions; Senior community
• HOA & community: Has association; Monthly HOA fee of $660; HOA covers cable TV, internet, maintenance (grounds and structure), sewer, trash, water, common areas, reserve funds, roof repairs, and recreation facility; Community amenities: heated pool, pool, spa/hot tub, clubhouse, fitness center, tennis courts, pickleball court(s), basketball court, shuffleboard court, bocce ball, billiard room, library, community room, sidewalks, street lights, parking, management, manager on site, internet included, maintenance

Exterior

• Parking: 1 parking space; Guest parking
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable connected
• Home design: Condominium; Resale; 2-story building; Southeast facing
• Construction: CBS construction; Composition roof
• Exterior features: Not waterfront; Guest parking available

Interior

• Kitchen: Electric range; Dishwasher; Disposal; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Engineered wood
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Split bedroom layout
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $454 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $187k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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: Banyan Creek Elementary School (math 62% / reading 64%, grade B, #582 of 2,144 statewide, top 28%, 844 students, 51% FRL); Atlantic High School (math 28% / reading 52%, grade F, #296 of 667 statewide, top 45%, 1,889 students, 59% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: Rents rising fast (+4.3%/yr); 546 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); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $2,934/mo this rent would consume 57% of the median local household income ($62k/yr) (locally 991% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $66k; list at $199k implies a 202% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $187,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
9. 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.
10. 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: 1.47% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.78%
• DSCR: 1.44
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.28% rent growth · sell at horizon

5-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $844
• Equity at exit: $29,672

10-year hold

• IRR: 11.7%
• Equity multiple: 2.00×
• Total profit: $55,492
• Equity at exit: $17,206

Cash invested: $55,720 (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 33484

• Rents YoY: 4.3%
• Active inventory: 546
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,934 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$77 /mo · $928/yr
• Insurance: −$83
• HOA: −$660
• Vacancy / Maint / Mgmt: −$616
• Net cashflow: $454

Break-even live

Break-even rent $2,359

Max offer price $199,000

Occupancy floor 80%

Sensitivity live

Price	-10% $567	-5% $510	+0% $454	+5% $398	+10% $341
Rent	-10% $222	-5% $338	+0% $454	+5% $570	+10% $686
Rate	-1.0pp $554	-0.5pp $505	base $454	+0.5pp $402	+1.0pp $350

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5850 Sugar Palm Ct Delray Beach, FL	2.0	2.0	1198	$3,300	$2.75	24d	1	0.02mi
13921 Royal Palm Ct Unit D Delray Beach, FL	2.0	2.0	1205	$4,000	$3.32	8d	1	0.14mi
13817 Royal Palm Ct Unit B Delray Beach, FL	2.0	2.0	1205	$3,200	$2.66	24d	1	0.17mi
5574 Royal Lake Cir Boynton Beach, FL	3.0	2.0	1658	$5,000	$3.02	15d	1	0.26mi
5952 Regal Glen Dr #103 Boynton Beach, FL	3.0	2.0	1813	$2,550	$1.41	24d	1	0.26mi
13431 Amber Waves Ave Delray Beach, FL	2.0	2.0	1390	$3,500	$2.52	24d	1	0.32mi
13283 Pineapple Palm Ct Unit F Delray Beach, FL	2.0	2.0	1198	$2,100	$1.75	8d	1	0.34mi
13283 Pineapple Palm Ct Unit F Delray Beach, FL	2.0	2.0	1198	$2,100	$1.75	24d	1	0.34mi
5449 Grande Palm Cir Delray Beach, FL	3.0	2.5	1618	$4,000	$2.47	24d	1	0.41mi
5449 Grande Palm Cir Delray Beach, FL	3.0	2.5	1618	$4,000	$2.47	18d	1	0.41mi
13255 Royale Sabal Ct Delray Beach, FL	3.0	2.5	1618	$4,300	$2.66	24d	1	0.42mi
5655 Via Delray Delray Beach, FL	2.0	2.0	1205	$2,200	$1.83	24d	1	0.43mi
13759 Date Palm Ct Unit A Delray Beach, FL	2.0	2.0	1247	$3,500	$2.81	24d	1	0.44mi
5908 Via Delray Blvd Delray Beach, FL	2.0	2.0	1221	$2,000	$1.64	24d	1	0.45mi
5675 Queen Palm Ct Delray Beach, FL	2.0	2.0	1200	$2,600	$2.17	24d	1	0.45mi
13297 Via Vulcanus Unit B Delray Beach, FL	2.0	2.0	1527	$3,000	$1.96	8d	1	0.45mi
12547 Imperial Isle Dr Boynton Beach, FL	2.0–3.0	2.0	1500	$2,500	$1.67	24d	2	0.48mi
13653 Jubilee Ln Delray Beach, FL	3.0	2.0	1305	$3,450	$2.64	14d	1	0.57mi
12654 Via Ravenna Boynton Beach, FL	3.0	2.0	1729	$3,500	$2.02	24d	1	0.58mi
5462 Via Delray #123 Delray Beach, FL	2.0	2.0	1200	$2,700	$2.25	21d	1	0.60mi
5260 Grande Palm Cir Delray Beach, FL	3.0	2.0	1464	$2,800	$1.91	24d	1	0.62mi
13670 Via Flora Delray Beach, FL	2.0	2.0	1021	$1,400	$1.37	24d	1	0.64mi
13670 Via Flora Delray Beach, FL	2.0	2.0	1021	$1,400	$1.37	16d	1	0.64mi
13657 Night Sky Pl Delray Beach, FL	2.0	2.0	1319	$3,200	$2.43	8d	1	0.64mi
13741 Flora Pl Unit B Delray Beach, FL	2.0	2.0	989	$2,100	$2.12	22d	1	0.66mi
13731 Flora Pl Unit A Delray Beach, FL	2.0	2.0	1097	$1,850	$1.69	24d	1	0.69mi
5335 Vernio Ln Boynton Beach, FL	3.0	2.0	1798	$3,700	$2.06	24d	1	0.69mi
12390 Summer Springs Dr Boynton Beach, FL	3.0	2.0	1861	$3,300	$1.77	24d	1	0.70mi
13721 Flora Pl Unit D Delray Beach, FL	2.0	2.0	1097	$1,850	$1.69	24d	1	0.71mi
13721 Flora Pl Unit D Delray Beach, FL	2.0	2.0	1097	$1,900	$1.73	5d	1	0.71mi
13419 Noble Dr Delray Beach, FL	2.0	2.0	1410	$3,600	$2.55	18d	1	0.75mi
13787 Flora Pl Unit A Delray Beach, FL	2.0	2.0	1097	$2,500	$2.28	24d	1	0.75mi
6038 Lasalle Rd Delray Beach, FL	2.0	2.0	1475	$2,100	$1.42	5d	1	0.75mi
12299 Forest Greens Dr Boynton Beach, FL	2.0	2.0	1310	$2,450	$1.87	18d	1	0.77mi
13776 Hero Path Delray Beach, FL	3.0	2.0	1319	$3,400	$2.58	24d	1	0.78mi
13682 Via Flora Unit H Delray Beach, FL	2.0	2.0	1097	$1,900	$1.73	24d	1	0.81mi
13886 Via Flora Unit A Delray Beach, FL	2.0	2.0	1097	$2,075	$1.89	24d	1	0.84mi
5200 Privet Pl Unit C Delray Beach, FL	2.0	2.0	1457	$1,850	$1.27	24d	1	0.85mi
4809 N Wickham Cir Unit A Delray Beach, FL	2.0	2.0	1028	$2,600	$2.53	24d	1	0.85mi
1418 W Wickham Cir Unit B Delray Beach, FL	3.0	2.5	1316	$3,200	$2.43	18d	1	0.87mi

HOA detail condo

• Monthly dues: $660 · $7,920/yr
• Likely covers: waterpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $199,000 Active 90 DOM
2. 2026-06-17
   days on market $199,000 Active 89 DOM
3. 2026-06-16
   days on market $199,000 Active 88 DOM
4. 2026-06-15
   days on market $199,000 Active 87 DOM
5. 2026-06-13
   days on market $199,000 Active 85 DOM
6. 2026-06-09
   days on market $199,000 Active 81 DOM
7. 2026-06-08
   days on market $199,000 Active 80 DOM
8. 2026-06-07
   days on market $199,000 Active 79 DOM
9. 2026-06-04
   days on market $199,000 Active 76 DOM
10. 2026-06-03
    days on market $199,000 Active 75 DOM
11. 2026-06-02
    days on market $199,000 Active 74 DOM
12. 2026-06-01
    days on market $199,000 Active 73 DOM
13. 2026-05-31
    days on market $199,000 Active 72 DOM
14. 2026-04-08
    price $199,000
15. 2026-03-20
    listed $229,000 Active
16. 1999-11-03
    soldstatus $66,000

ⓘ 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: $928 · $77/mo
• Projected year-2 tax: $1,652 · $138/mo
• Expected delta: +$723/yr (+$60/mo · 77.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $35,209
• − Mortgage interest: −$11,147
• − Property taxes: −$928
• − Insurance: −$995
• − Repairs & maintenance: −$2,817
• − Management: −$2,817
• − HOA: −$7,920
• − Depreciation: −$5,789
• Taxable income: $2,796
• Est. tax owed @ 24.0%: −$671
• After-tax cash flow: $4,778/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): 26,208
• Household income: $62,151
• Rent vs Own: 19.0% rent · 81.0% own
• Severe rent burden: 991.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 10% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Scotch-Irish 7% Romanian 6% Italian 2%
• Foreign-born: 23% · Canada, Jamaica, China
• Languages at home: 76% English-only · Spanish 13% Russian/Polish/Slavic 3% French/Haitian/Cajun 3%

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: ▼ -232.73%
• Current HPI: 254.5016
• Rent YoY: ▲ 4.28%
• 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

+201.5% since first listed

3 events — show timeline

• 2026-04-08 Price Changed $199,000 Beaches MLS
• 2026-03-20 Listed $229,000 Beaches MLS
• 1999-11-03 Sold (Public Records) $66,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $928 · +2.7% YoY. Source: county tax records.