1328 Lee St · Delray Beach, FL 33444

$365,000

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 37 Days on market

Built 1959 7,492 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 +13.2/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• 1% rule +4.0/10.0
• DSCR +4.0/10.0
• Livability +3.9/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great 3/1 Rental Lease expires 3/31/2022 Current rent $1,900 tenant pays all utilities. Newer Kitchen and appliances, new A/C in 2018, Roof 2013 and all cast iron pipes replaced with PVC this year.

Key facts

• Atlantic ave
• Delray beach
• East of 95

Tags

• BEST LOCATION
• EAST OF 95
• ATLANTIC AVE
• DELRAY BEACH
• VALUABLE PROPERTY

Property features AI

Finance

• Other: Pets allowed with no restrictions

Exterior

• Parking: 2 parking spaces total; Attached carport (1 covered space); Driveway
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Single-family residence; One story; North-facing
• Construction: Built with CBS construction; Composition/shingle roof; 1 story total
• Exterior features: Not waterfront; No waterfront features

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: No notable interior features listed; Drapes on windows
• Laundry & utility: Laundry closet inside the home

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $365k.

Deal economics

• At list price, monthly cash flow is $-5 ($-59/yr) — negative.
• To cash-flow at today's rent, offer at most $364k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $328k (10.2% below list).
• Recommended offer: $328k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: Plumosa School of The Arts (math 34% / reading 43%, grade F, #1,575 of 2,144 statewide, top 74%, 779 students, 68% FRL); Atlantic High School (math 28% / reading 52%, grade F, #296 of 667 statewide, top 45%, 1,889 students, 59% FRL).
• 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 $3,279/mo this rent would consume 54% 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 $3k of loan paydown is wiped out by about $11k 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 37 days — a 3% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y 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 $250k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• 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 $327,909 (10.2% 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 37 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.90% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.06%
• DSCR: 1.00
• GRM: 9.3

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: 0.38×
• Total profit: $-63,823
• Equity at exit: $54,423

10-year hold

• IRR: -13.1%
• Equity multiple: 0.28×
• Total profit: $-73,395
• Equity at exit: $31,559

Cash invested: $102,200 (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: 9.3×

Monthly cashflow live

• Estimated rent: $3,279 high
• Mortgage (P&I): −$1,914
• Tax from tax record: −$529 /mo · $6,350/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$689
• Net cashflow: $-5

Break-even live

Break-even rent $3,285

Max offer price $364,135

Occupancy floor 95%

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1335 Lee St Delray Beach, FL	3.0	2.0	1000	$3,200	$3.20	24d	1	0.07mi
210 NW 13th Ave Delray Beach, FL	2.0	1.0	800	$2,200	$2.75	24d	1	0.15mi
27 NW 11th Ave Delray Beach, FL	2.0	1.0	1040	$2,150	$2.07	24d	1	0.42mi
320 NW 6th Ave Delray Beach, FL	3.0	2.0	1032	$3,400	$3.29	24d	1	0.46mi
239 NW 6th Ave Delray Beach, FL	4.0	2.5	962	$3,700	$3.85	24d	1	0.50mi
500 N Congress Ave Delray Beach, FL	2.0–3.0	1.0–2.0	989	$3,073	$3.11	2d	6	0.53mi
26 SW 10th Ave Delray Beach, FL	2.0	1.0	600	$1,850	$3.08	24d	1	0.54mi
602 NW 1st St Delray Beach, FL	3.0	2.0	1032	$3,400	$3.29	24d	1	0.57mi
517 NW 1st St Delray Beach, FL	3.0	2.0	888	$4,125	$4.65	2d	1	0.58mi
517 NW 1st St Delray Beach, FL	3.0	2.0	888	$4,225	$4.76	3d	1	0.58mi
322 NW 4th Ave Delray Beach, FL	2.0	1.0	971	$7,500	$7.72	21d	1	0.59mi
135 NW 5th Ave Apt 3 Delray Beach, FL	2.0	1.0	875	$2,200	$2.51	24d	1	0.60mi
320 NW 3rd Ave Delray Beach, FL	3.0	2.0	1107	$4,500	$4.07	24d	1	0.65mi
137 SW 9th Ave Delray Beach, FL	2.0	1.0	736	$2,200	$2.99	18d	1	0.73mi
142 SW 8th Ave Unit D Delray Beach, FL	2.0	1.0	912	$2,250	$2.47	24d	1	0.75mi
24 SW 4th Ave Delray Beach, FL	3.0	2.0	948	$3,100	$3.27	24d	1	0.77mi
240 SW 15th Ave Unit 242 Delray Beach, FL	2.0	1.0	648	$2,250	$3.47	24d	1	0.81mi
320 NE 1st Ave Delray Beach, FL	2.0	1.0	1000	$2,900	$2.90	24d	1	0.90mi
200 NE 2nd Ave Delray Beach, FL	1.0–2.0	1.0–2.0	1133	$4,200	$3.71	2d	2	0.98mi
200 NE 2nd Ave Delray Beach, FL	1.0–2.0	1.0–2.0	1133	$4,500	$3.97	24d	2	0.98mi
250 Congress Park Dr Delray Beach, FL	1.0–2.0	1.0–2.0	972	$2,950	$3.03	3d	6	1.04mi
1641 NW 19th Ter Unit 46A Delray Beach, FL	2.0	2.0	1104	$2,000	$1.81	19d	1	1.04mi
336 SW 5th Ave Delray Beach, FL	3.0	2.0	1080	$3,300	$3.06	21d	1	1.05mi
32 SE 2nd Ave Delray Beach, FL	1.0–2.0	1.0–2.0	1230	$4,075	$3.31	2d	10	1.08mi
111 SE 1st Ave Delray Beach, FL	1.0–3.0	1.0–3.0	1116	$12,000	$10.75	24d	7	1.13mi
185 NE 4th Ave Delray Beach, FL	1.0–2.0	1.5–2.0	1406	$8,000	$5.69	14d	2	1.14mi
111 SE 2nd St Delray Beach, FL	1.0–2.0	2.0	827	$4,200	$5.08	21d	2	1.16mi
111 SE 2nd St #201 Delray Beach, FL	2.0	2.0	1083	$4,200	$3.88	22d	1	1.16mi
238 SE 1st Ave Unit 10 Delray Beach, FL	2.0	1.0	700	$2,600	$3.71	24d	1	1.20mi
1201 NE 2nd Ave Delray Beach, FL	2.0	1.0	700	$2,400	$3.43	8d	1	1.20mi
625 SW 20th Ct #80 Delray Beach, FL	2.0	1.0	777	$2,300	$2.96	24d	1	1.22mi
151 SE 3rd Ave Delray Beach, FL	2.0	1.0–2.0	919	$3,859	$4.20	3d	20	1.24mi
242 NE 12th St #2 Delray Beach, FL	2.0	1.0	1000	$2,100	$2.10	21d	1	1.27mi
338 NE 7th Ave Unit A Delray Beach, FL	2.0	2.0	837	$4,500	$5.38	18d	1	1.27mi
340 NE 7th Ave Delray Beach, FL	2.0	1.5	1082	$5,300	$4.90	8d	1	1.28mi
226 NE 7th Ave Delray Beach, FL	2.0	1.0	860	$3,500	$4.07	24d	1	1.29mi
342 NE 7th Ave Delray Beach, FL	2.0	1.5	1082	$5,400	$4.99	24d	1	1.29mi
233 NE 13th St Unit 2335 Delray Beach, FL	2.0	1.0	840	$2,450	$2.92	19d	1	1.29mi
323 NE 7th Ave Unit B Delray Beach, FL	2.0	1.0	800	$3,950	$4.94	24d	1	1.31mi
1155 South Drive Cir Unit A Delray Beach, FL	2.0	2.0	1080	$2,195	$2.03	24d	1	1.36mi

Listing history 28 events

1. 2026-06-18
   days on market $365,000 Active 37 DOM
2. 2026-06-17
   days on market $365,000 Active 36 DOM
3. 2026-06-16
   days on market $365,000 Active 35 DOM
4. 2026-06-15
   days on market $365,000 Active 34 DOM
5. 2026-06-13
   days on market $365,000 Active 32 DOM
6. 2026-06-09
   days on market $365,000 Active 28 DOM
7. 2026-06-08
   days on market $365,000 Active 27 DOM
8. 2026-06-07
   days on market $365,000 Active 26 DOM
9. 2026-06-04
   days on market $365,000 Active 23 DOM
10. 2026-06-03
    days on market $365,000 Active 22 DOM
11. 2026-06-02
    days on market $365,000 Active 21 DOM
12. 2026-06-01
    days on market $365,000 Active 20 DOM
13. 2026-05-31
    days on market $365,000 Active 19 DOM
14. 2026-05-12
    listed $365,000 Active
15. 2021-12-15
    soldstatus $250,000 Closed 199-char remark

    Show marketing remark (199 chars)

    Great 3/1 Rental Lease expires 3/31/2022 Current rent $1,900 tenant pays all utilities. Newer Kitchen and appliances, new A/C in 2018, Roof 2013 and all cast iron pipes replaced with PVC this year.

16. 2021-11-19
    status Pending 199-char remark

    Show marketing remark (199 chars)

    Great 3/1 Rental Lease expires 3/31/2022 Current rent $1,900 tenant pays all utilities. Newer Kitchen and appliances, new A/C in 2018, Roof 2013 and all cast iron pipes replaced with PVC this year.

17. 2021-11-02
    listed $260,000 Active 199-char remark

    Show marketing remark (199 chars)

    Great 3/1 Rental Lease expires 3/31/2022 Current rent $1,900 tenant pays all utilities. Newer Kitchen and appliances, new A/C in 2018, Roof 2013 and all cast iron pipes replaced with PVC this year.

18. 2018-06-06
    soldstatus $155,000
19. 2018-05-31
    soldstatus $155,000 Closed 367-char remark

    Show marketing remark (367 chars)

    3 bed 2 bath single family home located near everything Delray Beach has to offer. NEW roof and enormous backyard with plenty of space for entertaining! Great location with easy access to major highways including I-95. Minutes away from the beach, Downtown Delray, and Atlantic Ave - offering world class shopping, dining, and entertainment. Schedule a showing today!

20. 2018-05-03
    historical Active Under Contract 367-char remark

    Show marketing remark (367 chars)

    3 bed 2 bath single family home located near everything Delray Beach has to offer. NEW roof and enormous backyard with plenty of space for entertaining! Great location with easy access to major highways including I-95. Minutes away from the beach, Downtown Delray, and Atlantic Ave - offering world class shopping, dining, and entertainment. Schedule a showing today!

21. 2018-02-06
    listed $160,000 Active 367-char remark

    Show marketing remark (367 chars)

    3 bed 2 bath single family home located near everything Delray Beach has to offer. NEW roof and enormous backyard with plenty of space for entertaining! Great location with easy access to major highways including I-95. Minutes away from the beach, Downtown Delray, and Atlantic Ave - offering world class shopping, dining, and entertainment. Schedule a showing today!

22. 2011-10-02
    historical
23. 2010-10-08
    listed $60,000
24. 2003-11-12
    soldstatus $113,900
25. 2003-11-05
    soldstatus $113,900
26. 2003-09-30
    historical
27. 2003-08-26
    listed $113,900
28. 1990-07-10
    soldstatus $40,000

ⓘ 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: $6,350 · $529/mo
• Projected year-2 tax: $6,350 · $529/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 26 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: $39,349
• − Mortgage interest: −$20,446
• − Property taxes: −$6,350
• − Insurance: −$1,825
• − Repairs & maintenance: −$3,148
• − Management: −$3,148
• − Depreciation: −$10,618
• Taxable loss: −$6,186
• Est. tax savings @ 24.0%: +$1,485
• After-tax cash flow: $1,426/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

+812.5% since first listed

15 events — show timeline

• 2026-05-12 Listed $365,000 Beaches MLS
• 2021-12-15 Sold (MLS) $250,000 Beaches MLS
• 2021-11-19 Pending — Beaches MLS
• 2021-11-02 Listed $260,000 Beaches MLS
• 2018-06-06 Sold (Public Records) $155,000 Public Records
• 2018-05-31 Sold (MLS) $155,000 Beaches MLS
• 2018-05-03 Contingent — Beaches MLS
• 2018-02-06 Listed $160,000 Beaches MLS
• 2011-10-02 Listing Removed — Beaches MLS
• 2010-10-08 Listed $60,000 Beaches MLS
• 2003-11-12 Sold (Public Records) $113,900 Public Records
• 2003-11-05 Sold (MLS) $113,900 Beaches MLS
• 2003-09-30 Listing Removed — Beaches MLS
• 2003-08-26 Listed $113,900 Beaches MLS
• 1990-07-10 Sold (Public Records) $40,000 Public Records

Property tax history

+10.4%/yr

Latest (2025): $6,350 · +13.1% YoY. Source: county tax records.