2840 SW 13th St #103 · Delray Beach, FL 33445

$137,500

2 bd · 2.0 ba · 1,084 sqft · Condo public records · 82 Days on market

Built 1979 $599/mo HOA · 26% 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 +26.8/30.0
• 1% rule +10.0/10.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

FIRST FLOOR! 15.6 X 9.8 SCREENED PORCH!FULLY FURNISHED! DOMED EAT-IN KITCHE N! 3 FANS!QUIET LOCATION!JUST OFF THE LAKE!VACANT-LOCKBOX!

Key facts

• Garden views
• Walk-in shower
• $599 HOA

Tags

• FIRST-FLOOR OPPORTUNITY
• IN-UNIT WASHER AND DRYER
• GARDEN VIEWS
• ACCORDION HURRICANE SHUTTERS
• ACCESSIBLE FRONT ENTRY
• WALK-IN SHOWER

Property features AI

Finance

• HOA & community: HOA: Pines of Delray West; Monthly HOA fee includes cable TV, water, sewer, trash, grounds maintenance, common areas and recreation facilities; Community amenities: Clubhouse, Fitness Center, Pool, Sauna, Tennis courts, Pickleball courts, Bocce ball, Shuffleboard, Billiard room, Community room, Library, Manager on site; Senior community; Pets not allowed; 288 units in community; Monthly HOA fee: $599

Exterior

• Parking: Assigned parking; Guest parking (total 1 space)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity connected; Cable available
• Home design: Condominium; One level; Entry level: 1; Northeast-facing
• Construction: CBS construction; Shingle roof; Building has 2 stories (unit in Building 30); Resale property
• Exterior features: Covered patio; Screened patio; Patio; Landscaped grounds; Waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Electric water heater
• Bedrooms: 2 main-level bedrooms
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Walk-in closets; Blinds; Accessible entrance and grip-accessible features; Smoke detectors
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $138k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $138k).
• Recommended offer: $129k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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.
• Market conditions: Rents rising (+1.8%/yr); 354 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 35% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $951 of loan paydown is wiped out by about $4k 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 82 days — a 6% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 28y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $42k; list at $138k implies a 227% 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 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,249 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.67% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.75%
• DSCR: 1.52
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.83% rent growth · sell at horizon

5-year hold

• IRR: -0.4%
• Equity multiple: 0.98×
• Total profit: $-613
• Equity at exit: $20,502

10-year hold

• IRR: 7.7%
• Equity multiple: 1.55×
• Total profit: $21,025
• Equity at exit: $11,888

Cash invested: $38,500 (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 33445

• Rents YoY: 1.8%
• Active inventory: 354
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,296 high
• Mortgage (P&I): −$721
• Tax from tax record: −$60 /mo · $716/yr
• Insurance: −$57
• HOA: −$599
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $377

Break-even live

Break-even rent $1,819

Max offer price $137,500

Occupancy floor 79%

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: $34,375
• Closing costs: $4,125
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2835 SW 13th St #201 Delray Beach, FL	2.0	2.0	1144	$1,975	$1.73	18d	1	0.08mi
2730 SW 13th St #203 Delray Beach, FL	2.0	2.0	1084	$2,200	$2.03	24d	1	0.08mi
2715 Ponce de Leon Blvd Delray Beach, FL	2.0	1.0	1000	$2,200	$2.20	24d	1	0.17mi
2731 Knight Ln Delray Beach, FL	2.0	2.0	1050	$2,650	$2.52	24d	1	0.20mi
3001 San Clara Dr Unit 4A Delray Beach, FL	2.0	2.5	1500	$2,250	$1.50	15d	1	0.22mi
1101 Cactus Ter #203 Delray Beach, FL	2.0	2.0	1167	$2,100	$1.80	17d	1	0.23mi
1121 Cactus Ter #202 Delray Beach, FL	2.0	2.0	1167	$2,100	$1.80	24d	1	0.23mi
1705 Palm Cove Blvd Apt 302 Delray Beach, FL	1.0	1.0	934	$2,000	$2.14	24d	1	0.24mi
1141 Calamondin Ter #203 Delray Beach, FL	2.0	2.0	1167	$1,700	$1.46	24d	1	0.24mi
1120 Homewood Blvd Unit G204 Delray Beach, FL	2.0	2.0	1247	$2,550	$2.04	19d	1	0.26mi
1740 Palm Cove Blvd Apt 103 Delray Beach, FL	3.0	2.0	1065	$2,900	$2.72	24d	1	0.27mi
1760 Palm Cove Blvd Unit 5-203 Delray Beach, FL	2.0	2.0	993	$2,200	$2.22	14d	1	0.27mi
1760 Palm Cove Blvd Unit 5-203 Delray Beach, FL	2.0	2.0	992	$2,200	$2.22	24d	1	0.27mi
1725 Palm Cove Blvd Unit 2-306 Delray Beach, FL	1.0	1.0	934	$2,100	$2.25	20d	1	0.27mi
1825 Palm Cove Blvd Unit 7-105 Delray Beach, FL	2.0	2.0	946	$2,200	$2.33	15d	1	0.28mi
1130 Cactus Ter Unit 45C Delray Beach, FL	2.0	1.5	982	$2,000	$2.04	24d	1	0.28mi
1845 Palm Cove Blvd Unit 8-103 Delray Beach, FL	3.0	2.0	1065	$2,500	$2.35	18d	1	0.29mi
1060 Homewood Blvd Unit J102 Delray Beach, FL	2.0	2.0	1247	$2,450	$1.96	20d	1	0.29mi
2520 Black Olive Blvd #203 Delray Beach, FL	2.0	2.0	1167	$1,799	$1.54	24d	1	0.30mi
2520 Black Olive Blvd #203 Delray Beach, FL	2.0	2.0	1167	$1,799	$1.54	4d	1	0.30mi
1021 Flame Vine Ave Delray Beach, FL	2.0	2.0	1167	$1,750	$1.50	24d	1	0.30mi
2733 Zorno Way Delray Beach, FL	2.0	2.0	1245	$2,950	$2.37	19d	1	0.32mi
3118 Spanish Wells Dr Unit 15B Delray Beach, FL	2.0	2.5	1230	$2,650	$2.15	24d	1	0.32mi
2520 Pansy Ln Unit D Delray Beach, FL	2.0	2.0	1167	$2,150	$1.84	24d	1	0.33mi
1850 Homewood Blvd #2070 Delray Beach, FL	2.0	2.0	1090	$2,550	$2.34	24d	1	0.33mi
1001 Flame Vine Ave #202 Delray Beach, FL	2.0	2.0	1167	$2,800	$2.40	24d	1	0.34mi
2521 Pansey Ln Unit 7A Delray Beach, FL	2.0	2.0	1167	$2,100	$1.80	24d	1	0.34mi
2480 Juniper Dr #203 Delray Beach, FL	2.0	2.0	1167	$1,900	$1.63	24d	1	0.35mi
2480 Juniper Dr #204 Delray Beach, FL	2.0	2.0	1167	$1,750	$1.50	24d	1	0.35mi
1100 Boxwood Dr #101 Delray Beach, FL	2.0	2.0	1167	$1,800	$1.54	15d	1	0.35mi
2500 Fiore Way Delray Beach, FL	1.0–2.0	1.5–2.0	874	$2,150	$2.46	17d	2	0.37mi
3301 Spanish Wells Dr Unit D Delray Beach, FL	2.0	2.5	1400	$2,400	$1.71	24d	1	0.37mi
2450 Black Olive Blvd Unit A Delray Beach, FL	2.0	2.0	1167	$1,950	$1.67	15d	1	0.37mi
2450 Black Olive Blvd Unit A Delray Beach, FL	2.0	2.0	1167	$1,950	$1.67	24d	1	0.37mi
1885 Palm Cove Blvd Unit 10-203 Delray Beach, FL	2.0	2.0	992	$2,300	$2.32	5d	1	0.37mi
2500 Fiore Way #1110 Delray Beach, FL	2.0	2.0	1023	$1,850	$1.81	24d	1	0.37mi
2500 Fiore Way #109 Delray Beach, FL	1.0	1.5	825	$2,150	$2.61	11d	1	0.37mi
2070 Homewood Blvd #3150 Delray Beach, FL	2.0	2.0	1090	$2,350	$2.16	15d	1	0.38mi
2070 Homewood Blvd #214 Delray Beach, FL	2.0	2.0	1155	$2,350	$2.03	24d	1	0.39mi
2900 Fiore Way #2110 Delray Beach, FL	2.0	2.0	1023	$2,385	$2.33	4d	1	0.39mi

HOA detail condo

• Monthly dues: $599 · $7,188/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-07
   status $137,500 Pending 82 DOM
2. 2026-06-04
   days on market $137,500 Active Under Contract 82 DOM
3. 2026-06-03
   days on market $137,500 Active Under Contract 81 DOM
4. 2026-06-02
   days on market $137,500 Active Under Contract 80 DOM
5. 2026-06-01
   days on market $137,500 Active Under Contract 79 DOM
6. 2026-05-31
   days on market $137,500 Active Under Contract 78 DOM
7. 2026-04-25
   historical Active Under Contract
8. 2026-04-20
   price $137,500
9. 2026-03-15
   listed $140,000 Active
10. 1998-09-24
    soldstatus $42,000
11. 1998-09-23
    soldstatus $42,000 134-char remark

    Show marketing remark (134 chars)

    FIRST FLOOR! 15.6 X 9.8 SCREENED PORCH!FULLY FURNISHED! DOMED EAT-IN KITCHE N! 3 FANS!QUIET LOCATION!JUST OFF THE LAKE!VACANT-LOCKBOX!

12. 1998-08-05
    historical 134-char remark

    Show marketing remark (134 chars)

    FIRST FLOOR! 15.6 X 9.8 SCREENED PORCH!FULLY FURNISHED! DOMED EAT-IN KITCHE N! 3 FANS!QUIET LOCATION!JUST OFF THE LAKE!VACANT-LOCKBOX!

13. 1998-07-08
    listed $47,500 134-char remark

    Show marketing remark (134 chars)

    FIRST FLOOR! 15.6 X 9.8 SCREENED PORCH!FULLY FURNISHED! DOMED EAT-IN KITCHE N! 3 FANS!QUIET LOCATION!JUST OFF THE LAKE!VACANT-LOCKBOX!

14. 1988-04-29
    soldstatus $60,000

ⓘ 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: $716 · $60/mo
• Projected year-2 tax: $1,141 · $95/mo
• Expected delta: +$426/yr (+$35/mo · 59.5%)

ⓘ 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 10/10 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: $27,553
• − Mortgage interest: −$7,702
• − Property taxes: −$716
• − Insurance: −$688
• − Repairs & maintenance: −$2,204
• − Management: −$2,204
• − HOA: −$7,188
• − Depreciation: −$4,000
• Taxable income: $2,851
• Est. tax owed @ 24.0%: −$684
• After-tax cash flow: $3,839/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): 33,122
• Household income: $78,163
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1649.0

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 0.62)
• Race & ethnicity: White 55% Black 24% Hispanic / Latino 11% Two or more races 11% Asian 4%
• Hispanic origin (detail): Puerto Rican 3% Cuban 2%
• Common ancestry: Hispanic 14% Romanian 3% Scotch-Irish 3%
• Foreign-born: 27% · Canada, Jamaica, Dominican Republic
• Languages at home: 66% English-only · French/Haitian/Cajun 18% Spanish 9% Other Indo-European 4%

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: ▼ -258.16%
• Current HPI: 349.5505
• Rent YoY: ▲ 1.83%
• 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

+129.2% since first listed

8 events — show timeline

• 2026-04-25 Contingent — Beaches MLS
• 2026-04-20 Price Changed $137,500 Beaches MLS
• 2026-03-15 Listed $140,000 Beaches MLS
• 1998-09-24 Sold (Public Records) $42,000 Public Records
• 1998-09-23 Sold (MLS) $42,000 Beaches MLS
• 1998-08-05 Listing Removed — Beaches MLS
• 1998-07-08 Listed $47,500 Beaches MLS
• 1988-04-29 Sold (Public Records) $60,000 Public Records

Property tax history

-3.9%/yr

Latest (2025): $716 · +7.6% YoY. Source: county tax records.