2388 Zeder Ave · Delray Beach, FL 33444

$720,000

3 bd · 2.0 ba · 2,180 sqft · SingleFamily public records · 106 Days on market

Built 1980 5,805 sqft lot

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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).

• Cash flow +13.0/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• DSCR +3.9/10.0
• Livability +3.9/5.0
• Rent growth +2.9/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

RECENTLY APPRAISED OVER ASKING PRICE. NEW ROOF 2026 IMPACT GLASS WINDOWS. Welcome to 2388 Zeder Avenue, a fully remodeled contemporary home in the heart of Delray Beach. This bright and airy residence features an open kitchen ideal for entertaining and soaring volume ceilings that create a spacious feel. The layout offers excellent separation with guest bedrooms downstairs and a private primary suite upstairs. A versatile bonus area provides space for an office, storage, or lounge. Enjoy peace of mind with a new roof and full hurricane impact windows and doors. The private fenced backyard features outdoor lighting and plenty of room to relax or entertain. Located in a non-HOA neighborhood j

Key facts

• Impact glass windows
• Versatile bonus area
• New roof

Tags

• NEW ROOF
• IMPACT GLASS WINDOWS
• OPEN KITCHEN
• PRIVATE PRIMARY SUITE
• VERSATILE BONUS AREA
• PRIVATE FENCED BACKYARD

Property features AI

Exterior

• Parking: Driveway; 2 parking spaces
• Utilities: Public water; Public sewer; Electricity connected; Water available; Sewer available
• Home design: Single family residence; 2 stories; Resale; North-facing
• Construction: Frame construction; Shingle roof
• Exterior features: Open patio; Patio; Deck; Not waterfront

Interior

• Kitchen: Disposal; Dishwasher; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Ceramic tile; Wood
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: High ceilings; Walk-in closet(s)
• Laundry & utility: Unfurnished

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $720k.

Deal economics

• At list price, monthly cash flow is $-34 ($-410/yr) — negative.
• To cash-flow at today's rent, offer at most $714k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $544k (24.5% below list).
• Recommended offer: $544k (24.5% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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: Pine Grove Elementary School (math 42% / reading 47%, grade F, #1,288 of 2,144 statewide, top 62%, 354 students, 79% FRL); Atlantic High School (math 28% / reading 52%, grade F, #296 of 667 statewide, top 45%, 1,889 students, 59% FRL) — zoned schools average 69% FRL vs 52% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.6%/yr); 233 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 $5,436/mo this rent would consume 89% of the median local household income ($73k/yr) (locally 1211% 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 $5k of loan paydown is wiped out by about $22k 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.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($655k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $75k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $117k; list at $720k implies a 515% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $543,586 (24.5% 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 106 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.75% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.20%
• DSCR: 0.99
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.63% rent growth · sell at horizon

5-year hold

• IRR: -18.0%
• Equity multiple: 0.37×
• Total profit: $-126,557
• Equity at exit: $107,354

10-year hold

• IRR: -12.9%
• Equity multiple: 0.29×
• Total profit: $-143,801
• Equity at exit: $62,252

Cash invested: $201,600 (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 33444

• Rents YoY: 1.6%
• Active inventory: 233
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $5,436 high
• Mortgage (P&I): −$3,776
• Tax from tax record: −$253 /mo · $3,033/yr
• Insurance: −$300
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,142
• Net cashflow: $-34

Break-even live

Break-even rent $5,479

Max offer price $713,959

Occupancy floor 96%

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: $180,000
• Closing costs: $21,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
522 Lucky Ln Delray Beach, FL	4.0	2.5	2034	$7,500	$3.69	24d	1	0.15mi
2541 Southridge Rd Delray Beach, FL	3.0	3.0	1630	$6,900	$4.23	24d	1	0.18mi
722 SW 9th St Delray Beach, FL	4.0	2.0	1446	$2,999	$2.07	24d	1	0.45mi
724 SW 9th St Delray Beach, FL	4.0	2.0	1519	$4,500	$2.96	24d	1	0.45mi
1015 Ventnor Ave Unit 3E Delray Beach, FL	3.0	2.5	1674	$3,000	$1.79	24d	1	0.47mi
450 Egret Cir Delray Beach, FL	2.0–3.0	2.0–2.5	1369	$5,000	$3.65	17d	3	0.55mi
450 Egret Cir Delray Beach, FL	2.0–3.0	2.0–2.5	1369	$5,000	$3.65	15d	5	0.55mi
2018 Alta Meadows Ln #405 Delray Beach, FL	3.0	2.0	1512	$3,300	$2.18	24d	1	0.61mi
1920 Spanish Trl Delray Beach, FL	3.0	2.5	1600	$7,600	$4.75	24d	1	0.62mi
118 SW 7th St Delray Beach, FL	4.0	2.0	1620	$4,000	$2.47	3d	1	0.67mi
2016 Alta Meadows Ln #703 Delray Beach, FL	2.0	2.0	1500	$3,400	$2.27	24d	1	0.69mi
2211 Florida Blvd Unit A Delray Beach, FL	4.0	3.0	1922	$7,000	$3.64	3d	1	0.70mi
213 SE 9th St Delray Beach, FL	2.0	1.0	1400	$2,200	$1.57	22d	1	0.71mi
802 Mallard Dr Delray Beach, FL	2.0	2.0	1480	$8,500	$5.74	24d	1	0.75mi
2300 Florida Blvd Unit D Delray Beach, FL	3.0	2.5	1592	$4,200	$2.64	24d	1	0.77mi
1035 SE 6th Ave #406 Delray Beach, FL	3.0	2.5	2928	$15,000	$5.12	8d	1	0.81mi
2312 Spanish Trl Delray Beach, FL	3.0	2.0	2080	$5,000	$2.40	17d	1	0.83mi
634 SE 3rd Ave Delray Beach, FL	3.0	3.5	2161	$11,000	$5.09	24d	1	0.84mi
631 Linnet Cir Delray Beach, FL	3.0	2.0	1534	$4,700	$3.06	24d	1	0.85mi
937 Banyan Dr Delray Beach, FL	3.0	2.0	1791	$9,700	$5.42	24d	1	0.87mi
640 Jaeger Dr Delray Beach, FL	3.0	2.0	1624	$3,300	$2.03	12d	1	0.88mi
640 Jaeger Dr Delray Beach, FL	3.0	2.0	1624	$3,300	$2.03	24d	1	0.88mi
671 Lindell Blvd Delray Beach, FL	3.0	2.0	1824	$5,500	$3.02	3d	1	0.92mi
2635 Frederick Blvd Delray Beach, FL	2.0–3.0	2.5	1530	$4,150	$2.71	24d	1	0.93mi
541 Ibis Dr Delray Beach, FL	3.0	2.5	1550	$8,800	$5.68	4d	1	0.97mi
661 Eagle Cir Delray Beach, FL	4.0	2.0	2039	$5,800	$2.84	12d	1	1.00mi
1033 Brooks Ln Delray Beach, FL	3.0	3.0	2608	$18,000	$6.90	24d	1	1.02mi
1315 Gallinule Dr Delray Beach, FL	3.0	2.0	1404	$4,700	$3.35	24d	1	1.03mi
1050 Brooks Ln Delray Beach, FL	4.0	3.5	2624	$28,900	$11.01	24d	1	1.03mi
1523 Gallinule Dr Delray Beach, FL	3.0	2.0	1500	$4,400	$2.93	19d	1	1.07mi
505 Heron Dr Unit 505 Delray Beach, FL	3.0	2.0	1435	$4,000	$2.79	24d	1	1.07mi
506 Heron Dr Delray Beach, FL	4.0	3.0	2396	$5,500	$2.30	24d	1	1.11mi
220 S Swinton Ave Delray Beach, FL	4.0	4.0	2954	$30,000	$10.16	24d	1	1.11mi
311 SE 3rd Ave Delray Beach, FL	4.0	2.0	1607	$8,000	$4.98	12d	1	1.11mi
226 N Latitude Cir #205 Delray Beach, FL	3.0	2.0	1496	$3,150	$2.11	10d	1	1.12mi
226 N Latitude Cir Delray Beach, FL	1.0–3.0	1.5–2.0	1240	$3,150	$2.54	14d	2	1.12mi
2904 Spanish Trl Delray Beach, FL	3.0	2.0	1500	$5,600	$3.73	24d	1	1.12mi
3120 E Latitude Cir Delray Beach, FL	3.0	2.0–3.0	1550	$4,350	$2.81	22d	2	1.13mi
3120 E Latitude Cir #307 Delray Beach, FL	3.0	3.0	1617	$5,200	$3.22	15d	1	1.13mi
2940 Florida Blvd Unit 2940 Delray Beach, FL	3.0	2.5	1958	$4,000	$2.04	24d	1	1.13mi

Listing history 22 events

1. 2026-06-18
   days on market $720,000 Active 106 DOM
2. 2026-06-17
   days on market $720,000 Active 105 DOM
3. 2026-06-16
   days on market $720,000 Active 104 DOM
4. 2026-06-15
   days on market $720,000 Active 103 DOM
5. 2026-06-13
   days on market $720,000 Active 101 DOM
6. 2026-06-09
   days on market $720,000 Active 97 DOM
7. 2026-06-08
   days on market $720,000 Active 96 DOM
8. 2026-06-07
   days on market $720,000 Active 95 DOM
9. 2026-06-04
   pricedays on market $720,000 Active 92 DOM
10. 2026-06-03
    days on market $740,000 Active 91 DOM
11. 2026-06-02
    days on market $740,000 Active 90 DOM
12. 2026-06-01
    days on market $740,000 Active 89 DOM
13. 2026-05-31
    days on market $740,000 Active 88 DOM
14. 2026-05-05
    price $740,000
15. 2026-04-22
    price $750,000
16. 2026-03-31
    price $765,000
17. 2026-03-04
    listed $795,000 Active
18. 2011-06-23
    soldstatus $117,000
19. 2011-05-15
    historical
20. 2011-05-13
    listed $109,900
21. 2005-09-07
    soldstatus $238,000
22. 1998-05-20
    soldstatus $90,000

ⓘ 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: $3,033 · $253/mo
• Projected year-2 tax: $5,976 · $498/mo
• Expected delta: +$2,943/yr (+$245/mo · 97.0%)

ⓘ 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 7 d/yr ≥106°F today · 26 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: $65,230
• − Mortgage interest: −$40,331
• − Property taxes: −$3,033
• − Insurance: −$3,600
• − Repairs & maintenance: −$5,218
• − Management: −$5,218
• − Depreciation: −$20,945
• Taxable loss: −$13,116
• Est. tax savings @ 24.0%: +$3,148
• After-tax cash flow: $2,738/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

• Census place: Delray Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 123,167
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 22,737
• Household income: $72,925
• Rent vs Own: 48.5% rent · 51.5% own
• Severe rent burden: 1211.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 48% White 35% Hispanic / Latino 13% Two or more races 10% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1% Cuban 1%
• Common ancestry: Hispanic 17% Romanian 2% Italian 2%
• Foreign-born: 24% · Canada, Jamaica
• Languages at home: 70% English-only · French/Haitian/Cajun 18% Spanish 11% Other Indo-European 1%

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: ▼ -743.16%
• Current HPI: 415.3247
• Rent YoY: ▲ 1.63%
• 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

+722.2% since first listed

9 events — show timeline

• 2026-05-05 Price Changed $740,000 Beaches MLS
• 2026-04-22 Price Changed $750,000 Beaches MLS
• 2026-03-31 Price Changed $765,000 Beaches MLS
• 2026-03-04 Listed $795,000 Beaches MLS
• 2011-06-23 Sold (MLS) $117,000 Beaches MLS
• 2011-05-15 Listing Removed — Beaches MLS
• 2011-05-13 Listed $109,900 Beaches MLS
• 2005-09-07 Sold (Public Records) $238,000 Public Records
• 1998-05-20 Sold (Public Records) $90,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $3,033 · +26.0% YoY. Source: county tax records.