14527 Bonaire Blvd #203 · Delray Beach, FL 33446

$125,000

2 bd · 2.0 ba · 1,060 sqft · Condo public records · 11 Days on market

Built 1980 $720/mo HOA · 26% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +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
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This is a very well maintained unit--Nice view of the water-hurricane Shutters on the balcony-Very clean & ready to move in!!--AC shows a manufacturer date of 11/2003

Key facts

• Water views
• Enclosed balcony
• Fitness center

Tags

• WATERFRONT LIVING
• WATER VIEWS
• ENCLOSED BALCONY
• RESORT STYLE AMENITIES
• CLUBHOUSE
• FITNESS CENTER

Property features AI

Finance

• Other: Senior community; Pets not allowed
• HOA & community: Community has clubhouse, pool, community room, and trash chute; HOA includes cable TV, insurance, grounds maintenance, trash, water, common area maintenance, and elevator; Monthly HOA fee

Exterior

• Parking: Assigned parking; Guest parking; 1 parking space
• Utilities: Cable available
• Home design: Condominium; 7-story building; Resale unit; Faces south
• Construction: Block/CBS construction
• Exterior features: Waterfront property

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Walk-in closets
• Laundry & utility: Laundry inside the unit

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $125k).
• Cap rate 11.6% 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: Hagen Road Elementary School (math 55% / reading 63%, grade B-, #722 of 2,144 statewide, top 34%, 773 students, 46% 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 average 35% FRL vs 52% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 64% at this address vs 50% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Palm Beach average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 577 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).

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 ~5 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 29y ago; this cycle's ask has dropped $55k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $47k; list at $125k implies a 166% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 26% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.22% ✓
• Cap rate: 11.57%
• Cash-on-cash: 18.83%
• DSCR: 1.84
• GRM: 3.8

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: 17.2%
• Equity multiple: 1.83×
• Total profit: $29,159
• Equity at exit: $40,648

10-year hold

• IRR: 18.4%
• Equity multiple: 2.92×
• Total profit: $67,250
• 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.

Methodology + full state rankings →

ZIP-level market 33446

• Home prices YoY: 0.3%
• Rents YoY: 0.5%
• Active inventory: 577
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,772 high
• Mortgage (P&I): −$656
• Tax from tax record: −$213 /mo · $2,558/yr
• Insurance: −$52
• HOA: −$720
• Vacancy / Maint / Mgmt: −$582
• Net cashflow: $549

Break-even live

Break-even rent $2,077

Max offer price $125,000

Occupancy floor 75%

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: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14475 Strathmore Ln Delray Beach, FL	2.0	2.0	1230	$2,422	$1.97	24d	2	0.09mi
14671 Bonaire Blvd #505 Delray Beach, FL	1.0	2.0	925	$1,600	$1.73	24d	1	0.14mi
6866 Huntington Ln #305 Delray Beach, FL	2.0	2.0	1230	$4,500	$3.66	24d	1	0.18mi
14624 Three Ponds Trl Delray Beach, FL	3.0	2.0	1411	$3,250	$2.30	17d	1	0.21mi
14556 Wiley Range Rd Delray Beach, FL	2.0	2.0	1319	$3,000	$2.27	24d	1	0.24mi
6795 Huntington Ln #406 Delray Beach, FL	2.0	2.0	990	$2,500	$2.53	21d	1	0.24mi
32 Abbey Ln #207 Delray Beach, FL	2.0	2.0	925	$2,500	$2.70	24d	1	0.24mi
31 Abbey Ln #207 Delray Beach, FL	2.0	2.0	925	$1,300	$1.41	24d	1	0.25mi
6557 Country Wood Way Delray Beach, FL	3.0	2.0	1346	$4,700	$3.49	24d	1	0.26mi
6550 Country Wood Way Delray Beach, FL	3.0	2.0	1408	$4,000	$2.84	5d	1	0.27mi
6550 Country Wood Way Delray Beach, FL	3.0	2.0	1408	$4,000	$2.84	24d	1	0.27mi
7076 Huntington Ln #608 Delray Beach, FL	2.0	2.0	1230	$2,600	$2.11	24d	1	0.27mi
23 Abbey Ln #208 Delray Beach, FL	2.0	2.0	925	$1,500	$1.62	3d	1	0.28mi
14534 Highland Center Way Delray Beach, FL	2.0	2.0	1319	$3,400	$2.58	8d	1	0.29mi
21 Abbey Ln #107 Delray Beach, FL	2.0	2.0	925	$1,800	$1.95	15d	1	0.31mi
6396 Country Wood Way Delray Beach, FL	2.0	2.0	1364	$3,000	$2.20	24d	1	0.32mi
6372 Sleepy Willow Way Delray Beach, FL	2.0	2.0	1344	$3,975	$2.96	24d	1	0.33mi
6372 Sleepy Willow Way Delray Beach, FL	2.0	2.0	1344	$3,975	$2.96	15d	1	0.33mi
19 Abbey Ln #206 Delray Beach, FL	2.0	2.0	925	$1,750	$1.89	24d	1	0.34mi
14735 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,350	$2.19	2d	1	0.34mi
20 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,600	$2.81	24d	1	0.35mi
14307 Bedford Dr #302 Delray Beach, FL	2.0	2.0	990	$2,200	$2.22	24d	1	0.35mi
3 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,500	$2.70	24d	1	0.37mi
7192 Huntington Ln #307 Delray Beach, FL	2.0	2.0	1070	$3,500	$3.27	18d	1	0.37mi
14832 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,500	$2.33	17d	1	0.37mi
14608 Country Side Ln Delray Beach, FL	2.0	2.0	1303	$2,950	$2.26	24d	1	0.38mi
14800 Cumberland Dr Delray Beach, FL	2.0	2.0	1321	$4,048	$3.06	5d	4	0.39mi
14747 Wildflower Ln Delray Beach, FL	2.0	2.0	1229	$2,475	$2.01	24d	1	0.40mi
14828 Golden Jax Ln Unit 8-105 Radiance Delray Beach, FL	2.0	2.0	1321	$3,948	$2.99	15d	1	0.41mi
14828 Golden Jax Ln Unit 8103 Delray Beach, FL	2.0	2.0	1321	$3,949	$2.99	5d	1	0.41mi
14828 Golden Jax Ln Unit 6-105 Radiance Delray Beach, FL	2.0	2.0	1321	$4,148	$3.14	17d	1	0.41mi
14509 Sloan Ridge Dr Unit 10-104 Luminosa Delray Beach, FL	3.0	2.0	1328	$3,827	$2.88	24d	1	0.41mi
6234 Pointe Regal Cir Delray Beach, FL	2.0	2.0	1217	$3,899	$3.20	24d	1	0.43mi
14 Willowbrook Ln #101 Delray Beach, FL	2.0	2.0	1005	$1,700	$1.69	5d	1	0.45mi
6813 Moonlit Dr Delray Beach, FL	2.0	2.0	1148	$2,150	$1.87	24d	1	0.45mi
10 Willowbrook Ln #105 Delray Beach, FL	2.0	2.0	1005	$2,100	$2.09	11d	1	0.47mi
7286 Huntington Ln #105 Delray Beach, FL	2.0	2.0	1070	$3,350	$3.13	24d	1	0.47mi
14747 Cumberland Dr #301 Delray Beach, FL	2.0	2.0	1044	$1,900	$1.82	24d	1	0.49mi
6096 Kings Gate Cir Delray Beach, FL	2.0	2.0	1311	$2,500	$1.91	24d	1	0.53mi
14723 Cumberland Dr Unit 404 B Delray Beach, FL	1.0	2.0	912	$1,850	$2.03	24d	1	0.54mi

HOA detail condo

• Monthly dues: $720 · $8,640/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $125,000 Active 11 DOM
2. 2026-06-17
   days on market $125,000 Active 10 DOM
3. 2026-06-16
   days on market $125,000 Active 9 DOM
4. 2026-06-15
   days on market $125,000 Active 8 DOM
5. 2026-06-13
   days on market $125,000 Active 6 DOM
6. 2026-06-09
   days on market $125,000 Active 2 DOM
7. 2026-06-08
   pricedays on marketlisting id $125,000 Active 1 DOM
8. 2026-04-21
   price $129,900
9. 2026-03-19
   price $149,900
10. 2026-01-13
    price $165,000
11. 2025-11-17
    price $175,000
12. 2025-09-19
    listed $180,000 Active
13. 2012-01-26
    soldstatus $47,000
14. 2012-01-19
    soldstatus $47,000 172-char remark

    Show marketing remark (172 chars)

    This is a very well maintained unit--Nice view of the water-hurricane Shutters on the balcony-Very clean & ready to move in!!--AC shows a manufacturer date of 11/2003

15. 2011-10-08
    listed $51,900 172-char remark

    Show marketing remark (172 chars)

    This is a very well maintained unit--Nice view of the water-hurricane Shutters on the balcony-Very clean & ready to move in!!--AC shows a manufacturer date of 11/2003

16. 2011-07-07
    historical 358-char remark

    Show marketing remark (358 chars)

    Enjoy breakfast in the Florida room w/ plexiglass sliders offering a lovely view of the water(canal), green & walking path. 2/2 w/ updated AC, frig & washer/dryer. fans, walk in closet, 2nd floor unit. Active community w/ pool & clubhouse, exercise rm + more Elevator building (2 elevators) w/ trash chute, storage & plenty of parking

17. 2011-01-11
    historical
18. 2011-01-03
    listed $62,000

    Show marketing remark (358 chars)

    Enjoy breakfast in the Florida room w/ plexiglass sliders offering a lovely view of the water(canal), green & walking path. 2/2 w/ updated AC, frig & washer/dryer. fans, walk in closet, 2nd floor unit. Active community w/ pool & clubhouse, exercise rm + more Elevator building (2 elevators) w/ trash chute, storage & plenty of parking

19. 2011-01-03
    listed $53,000 358-char remark

    Show marketing remark (358 chars)

    Enjoy breakfast in the Florida room w/ plexiglass sliders offering a lovely view of the water(canal), green & walking path. 2/2 w/ updated AC, frig & washer/dryer. fans, walk in closet, 2nd floor unit. Active community w/ pool & clubhouse, exercise rm + more Elevator building (2 elevators) w/ trash chute, storage & plenty of parking

20. 1998-10-15
    soldstatus $51,000
21. 1998-08-27
    soldstatus $51,000
22. 1998-08-01
    historical
23. 1997-08-29
    listed $52,500
24. 1988-06-13
    soldstatus $52,000

ⓘ 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: $2,558 · $213/mo
• Projected year-2 tax: $2,558 · $213/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) · 20% 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

Taxation est. · year 1

• Rental income: $33,266
• − Mortgage interest: −$7,002
• − Property taxes: −$2,558
• − Insurance: −$625
• − Repairs & maintenance: −$2,661
• − Management: −$2,661
• − HOA: −$8,640
• − Depreciation: −$3,636
• Taxable income: $5,482
• Est. tax owed @ 24.0%: −$1,316
• After-tax cash flow: $5,275/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

+149.8% since first listed

17 events — show timeline

• 2026-04-21 Price Changed $129,900 Beaches MLS
• 2026-03-19 Price Changed $149,900 Beaches MLS
• 2026-01-13 Price Changed $165,000 Beaches MLS
• 2025-11-17 Price Changed $175,000 Beaches MLS
• 2025-09-19 Listed $180,000 Beaches MLS
• 2012-01-26 Sold (Public Records) $47,000 Public Records
• 2012-01-19 Sold (MLS) $47,000 Beaches MLS
• 2011-10-08 Listed $51,900 Beaches MLS
• 2011-07-07 Listing Removed — Beaches MLS
• 2011-01-11 Listing Removed — Beaches MLS
• 2011-01-03 Listed $53,000 Beaches MLS
• 2011-01-03 Listed $62,000 Beaches MLS
• 1998-10-15 Sold (Public Records) $51,000 Public Records
• 1998-08-27 Sold (MLS) $51,000 Beaches MLS
• 1998-08-01 Listing Removed — Beaches MLS
• 1997-08-29 Listed $52,500 Beaches MLS
• 1988-06-13 Sold (Public Records) $52,000 Public Records

Property tax history

+8.1%/yr

Latest (2025): $2,558 · +4.1% YoY. Source: county tax records.