3401 Spanish Trl Unit 348g · Delray Beach, FL
Flood risk 6/10 · Moderate
- FEMA flood zone
- AE
- Chance of flooding over 30 yrs
- 0.66%
- Est. flood insurance / yr
- $1,737 – $8,500
Fire risk 1/10 · Minimal
- Est. fire insurance / yr
- $947 – $1,759
Heat risk 9/10 · Severe
- Hot days now (above 106°F)
- 7 days/yr
- Hot days in 30 yrs
- 25 days/yr
Wind risk 10/10 · Severe
- Chance of severe wind over 30 yrs
- 99.0%
Air-quality risk 3/10 · Minor
- Unhealthy air days now
- 2 days/yr
- Unhealthy air days in 30 yrs
- 3 days/yr
Risk factors via First Street. Map © Google.
Why this score? — see what drove the C- 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).
- ARV discount +15.0/15.0
- Cash flow +11.4/30.0
- 1% rule +6.2/10.0
- Schools +5.6/10.0
- Rent growth +4.2/5.0
- Condition / age +4.0/5.0
- Livability +3.9/5.0
- DSCR +3.4/10.0
- Appreciation +0.0/10.0
$247,000
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
Listing remarks
Tropic Harbor is a 55+ waterfront hidden gem on the Intracoastal in Delray Beach! Rare 3rd-floor corner unit with bird's-eye water views from the living room and primary bedroom. This bright 2BR/2BA is ready for renovation, bring your vision and create a custom retreat! Accordion shutters on all windows. Boaters will love dockage when available, no fixed bridges and boats up to 50 ft. Enjoy 2 pools, new gym, renovated clubhouse, card/library room and shuffleboard. Concrete restoration completed. East of Federal, minutes to the beach, Downtown Delray and Atlantic Ave dining and nightlife. Washer/dryer on floor. Assigned covered parking #153 near elevator with new carport. Priced to sell!
Key facts
- No fixed bridges
- Accordion shutters
- 2 pools
Tags
Neighborhood map
What this means for you Summary
Snapshot
- This is a 2-bed/2.0-bath condo listed at $247k. Condition is rated good.
Deal economics
- At list price, monthly cash flow is $-705 ($-8k/yr) — negative.
- To cash-flow at today's rent, offer at most $145k (41.3% below list).
- Meets the 1% rule at list price ($3k rent vs $247k).
- Recommended offer: $145k (41.3% below list) — sets the bar for cash-flow.
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); Boca Raton Community Middle School (math 59% / reading 61%, grade B, #135 of 571 statewide, top 24%, 1,225 students, 41% FRL); West Boca Raton High School (math 55% / reading 70%, grade B-, #93 of 667 statewide, top 14%, 2,271 students, 28% FRL) — zoned schools at 49% FRL track the district average.
- Market conditions: Rents rising fast (+6.9%/yr); 442 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 57d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
- This rent runs 31% of the median local income ($116k/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 $2k of loan paydown is wiped out by about $7k 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 39 days — a 3% lower offer ($240k) is reasonable based on typical stale-listing flexibility.
- 2 sale attempts 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.
Risks & watch-outs
- Watch-outs: flood insurance adds $427/mo; HOA is 32% of rent.
- Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Questions for the listing agent
- 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?
- It's been on market 39 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
- Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
- What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
- What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
- 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?
- Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
- 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?
- 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?
- 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.
- 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.
- 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
- 1.23% ✓
- Cap rate
- 4.94%
- Cash-on-cash
- -4.84%
- DSCR
- 0.78
- GRM
- 6.8
CMA / ARV
- ARV (median comp)
- $327,478
- List price
- $247,000
- Delta
- -24.58%
- Verdict
- UNDERPRICED
- Comps
- 20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
| Address | Dist | Beds/Ba | Sqft | Sold | Price | $/sf | Match |
|---|---|---|---|---|---|---|---|
| 3101 S Ocean Blvd #318 | 0.47mi | 2/2.0 | 1,076 (+8%) | 0mo | $622,000 | $578 | 65 |
| 3215 S Ocean Blvd #906 | 0.59mi | 2/2.0 | 1,050 (+5%) | 0mo | $432,000 | $411 | 64 |
| 3301 S Ocean Blvd #810 | 0.63mi | 2/2.0 | 1,050 (+5%) | 0mo | $780,000 | $743 | 62 |
| 3114 S Ocean Blvd #509 | 0.45mi | 2/2.0 | 1,102 (+10%) | 0mo | $515,000 | $467 | 62 |
| 2717 Florida Blvd #125 | 0.43mi | 2/2.0 | 1,200 (+20%) | 0mo | $400,000 | $333 | 54 |
| 1 Harbourside Dr #3403 | 1.39mi | 2/2.0 | 1,092 (+9%) | 0mo | $620,000 | $568 | 49 |
| 280 NW 67th St Unit B207 | 1.42mi | 2/2.0 | 1,116 (+12%) | 0mo | $226,000 | $203 | 46 |
| 450 Egret Cir #9309 | 0.85mi | 2/2.0 | 1,175 (+18%) | 0mo | $235,000 | $200 | 40 |
| 450 Egret Cir #9403 | 0.85mi | 2/2.0 | 1,175 (+18%) | 0mo | $272,000 | $231 | 40 |
| 2225 S Ocean Blvd #2 | 0.77mi | 2/1.0 | 756 (-24%) | 0mo | $1,500,000 | $1,984 | 36 |
| 755 Dotterel Rd #1206 | 0.89mi | 1/1.5 (-1) | 758 (-24%) | 0mo | $175,000 | $231 | 33 |
| 2455 Lindell Blvd #3511 | 0.99mi | 1/1.0 (-1) | 758 (-24%) | 0mo | $205,000 | $270 | 31 |
Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.
Projected returns pro-forma
-3.0% appreciation · 6.87% rent growth · sell at horizon
- IRR
- -29.3%
- Equity multiple
- -0.04×
- Total profit
- $-71,719
- Equity at exit
- $36,829
- IRR
- -11.3%
- Equity multiple
- 0.11×
- Total profit
- $-61,830
- Equity at exit
- $21,356
Cash invested: $69,160 (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
Active competition Active MLS
- For sale now
- 1 active · 3 under contract
- Median asking
- $230,000 ($219/sqft)
- Median days on market
- 82 d
- This list price
- 100% of active listings are priced below it
- ARV vs active asking
- +49.2% above current asking $/sqft
Closed sales set the value; these active listings set current market conditions and a practical price ceiling.
ZIP-level market 33483
- Rents YoY
- 6.9%
- Active inventory
- 442
- Price-to-rent
- 6.8×
Monthly cashflow live
- Estimated rent
- $3,047 high interval (Pro) →
- Mortgage (P&I)
- −$1,295
- Tax est. 1.5%
- −$309 /mo · $3,705/yr
- Insurance
- −$103
- Flood insurance flood zone
- −$427 /mo · $5,118/yr
- HOA
- −$979
- Lot rent
- −$0
- Vacancy / Maint / Mgmt
- −$640
- Net cashflow
- $-705
Break-even live
Sensitivity live
| Price | -10% $-535 | -5% $-620 | +0% $-705 | +5% $-791 | +10% $-876 |
|---|---|---|---|---|---|
| Rent | -10% $-946 | -5% $-826 | +0% $-705 | +5% $-585 | +10% $-465 |
| Rate | -1.0pp $-581 | -0.5pp $-643 | base $-705 | +0.5pp $-769 | +1.0pp $-835 |
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
- $61,750
- Closing costs
- $7,410
- Club membership (one-time)
- —
- Reserves months
- —
- Total cash needed
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
Rent comps 40 comps
| Address | Beds | Baths | Sqft | Rent | $/sqft | DOM | Units | Dist |
|---|---|---|---|---|---|---|---|---|
| 207 Tropic Isle Dr #210 Delray Beach, FL | 2.0 | 1.5 | 931 | $2,200 | $2.36 | 37d | 1 | 0.02mi |
| 207 Tropic Isle Dr #210 Delray Beach, FL | 2.0 | 1.5 | 931 | $2,200 | $2.36 | 10d | 1 | 0.02mi |
| 3401 Spanish Trl #148 Delray Beach, FL | 2.0 | 2.0 | 1175 | $2,500 | $2.13 | 160d | 1 | 0.03mi |
| 207 Tropic Isle Dr #2050 Delray Beach, FL | 1.0 | 1.0 | 836 | $2,500 | $2.99 | 10d | 1 | 0.04mi |
| 207 Tropic Isle Dr #2050 Delray Beach, FL | 1.0 | 1.0 | 836 | $2,500 | $2.99 | 56d | 1 | 0.04mi |
| 207 Tropic Isle Dr #2100 Delray Beach, FL | 2.0 | 2.0 | 931 | $2,550 | $2.74 | 37d | 1 | 0.04mi |
| 3275 Frederick Blvd Unit 17U Delray Beach, FL | 2.0 | 2.0 | 899 | $2,550 | $2.84 | 10d | 1 | 0.06mi |
| 3275 Frederick Blvd Unit 12D Delray Beach, FL | 2.0 | 2.0 | 899 | $2,400 | $2.67 | 80d | 1 | 0.06mi |
| 3351 Spanish Trl #212 Delray Beach, FL | 2.0 | 2.0 | 1175 | $3,500 | $2.98 | 165d | 1 | 0.06mi |
| 3137 Spanish Trl #19 Delray Beach, FL | 2.0 | 2.5 | 1152 | $3,800 | $3.30 | 57d | 1 | 0.09mi |
| 701 Avenue L Delray Beach, FL | 2.0 | 2.0 | 1248 | $2,500 | $2.00 | 153d | 1 | 0.11mi |
| 100 Pelican Pointe Dr #103 Delray Beach, FL | 2.0 | 2.0 | 1135 | $2,950 | $2.60 | 165d | 1 | 0.12mi |
| 85 Pelican Pointe Dr #103 Delray Beach, FL | 2.0 | 2.0 | 1135 | $4,000 | $3.52 | 10d | 1 | 0.13mi |
| 85 Pelican Pointe Dr #103 Delray Beach, FL | 2.0 | 2.0 | 1135 | $4,000 | $3.52 | 27d | 1 | 0.13mi |
| 3101 Florida Blvd Unit 1 Delray Beach, FL | 2.0 | 2.0 | 1100 | $2,700 | $2.45 | 31d | 1 | 0.15mi |
| 3101 Florida Blvd Unit 1 Delray Beach, FL | 2.0 | 2.0 | 1100 | $2,700 | $2.45 | 10d | 1 | 0.15mi |
| 65 Pelican Pointe Dr #2030 Delray Beach, FL | 2.0 | 2.0 | 1135 | $3,000 | $2.64 | 10d | 1 | 0.15mi |
| 60 Pelican Pointe Dr #201 Delray Beach, FL | 3.0 | 2.0 | 1413 | $3,500 | $2.48 | 57d | 1 | 0.15mi |
| 65 Pelican Pointe Dr Unit 202 Delray Beach, FL | 2.0 | 2.0 | 1135 | $3,200 | $2.82 | 89d | 1 | 0.15mi |
| 3020 Florida Blvd Unit 203C Delray Beach, FL | 2.0 | 2.0 | 1248 | $2,150 | $1.72 | 3d | 1 | 0.17mi |
| 30 Pelican Pointe Dr #201 Delray Beach, FL | 3.0 | 2.0 | 1413 | $3,800 | $2.69 | 3d | 1 | 0.20mi |
| 30 Pelican Pointe Dr #201 Delray Beach, FL | 3.0 | 2.0 | 1413 | $3,800 | $2.69 | 10d | 1 | 0.20mi |
| 30 Pelican Pointe Dr #201 Delray Beach, FL | 3.0 | 2.0 | 1413 | $3,800 | $2.69 | 57d | 1 | 0.20mi |
| 30 Pelican Pointe Dr #201 Delray Beach, FL | 3.0 | 2.0 | 1413 | $3,800 | $2.69 | 2d | 1 | 0.20mi |
| 2920 Florida Blvd #216 Delray Beach, FL | 2.0 | 2.0 | 1226 | $2,495 | $2.04 | 165d | 1 | 0.26mi |
| 2904 Spanish Trl Delray Beach, FL | 3.0 | 2.0 | 1500 | $5,500 | $3.67 | 10d | 1 | 0.27mi |
| 2904 Spanish Trl Delray Beach, FL | 3.0 | 2.0 | 1500 | $5,600 | $3.73 | 165d | 1 | 0.27mi |
| 3360 Delray Bay Dr Delray Beach, FL | 1.0–3.0 | 1.0–2.0 | 1312 | $3,034 | $2.31 | 0d | 26 | 0.29mi |
| 3120 E Latitude Cir Unit 101S Delray Beach, FL | 1.0 | 1.0 | 1053 | $2,500 | $2.37 | 118d | 1 | 0.30mi |
| 3120 E Latitude Cir Delray Beach, FL | 3.0 | 2.0–3.0 | 1550 | $4,350 | $2.81 | 163d | 2 | 0.30mi |
| 225 S Latitude Cir Delray Beach, FL | 1.0–2.0 | 1.0–2.0 | 1075 | $2,950 | $2.74 | 80d | 2 | 0.32mi |
| 225 S Latitude Cir #306 Delray Beach, FL | 2.0 | 2.0 | 1193 | $2,850 | $2.39 | 10d | 1 | 0.32mi |
| 225 S Latitude Cir Apt 402 Delray Beach, FL | 2.0 | 2.0 | 1193 | $2,850 | $2.39 | 6d | 1 | 0.33mi |
| 226 N Latitude Cir #205 Delray Beach, FL | 3.0 | 2.0 | 1496 | $3,150 | $2.11 | 151d | 1 | 0.33mi |
| 226 N Latitude Cir Delray Beach, FL | 1.0–3.0 | 1.5–2.0 | 1240 | $2,675 | $2.16 | 154d | 2 | 0.33mi |
| 3130 W Latitude Cir #306 Delray Beach, FL | 2.0 | 2.0 | 1193 | $2,850 | $2.39 | 10d | 1 | 0.37mi |
| 3130 W Latitude Cir Delray Beach, FL | 1.0–3.0 | 1.0–2.5 | 1300 | $2,925 | $2.25 | 96d | 2 | 0.37mi |
| 2909 S Ocean Blvd Unit 1B1 Highland Beach, FL | 2.0 | 2.0 | 1176 | $4,900 | $4.17 | 165d | 1 | 0.42mi |
| 931 Gardenia Dr #269 Delray Beach, FL | 2.0 | 2.0 | 1200 | $2,550 | $2.12 | 69d | 1 | 0.42mi |
| 931 Gardenia Dr #269 Delray Beach, FL | 2.0 | 2.0 | 1200 | $2,400 | $2.00 | 165d | 1 | 0.42mi |
Property features AI
Finance
- Other
- Pets not allowedSenior community
- HOA & community
- Association: Tropic HarborMonthly HOA feeAssociation amenities include elevator(s), fitness center, pool, on-site manager, laundry, library, recreation facilities, management and maintenance servicesHOA fees cover cable TV, insurance, grounds and structure maintenance, sewer, trash, water, common areas, elevator and recreation facility
Exterior
- Parking
- Attached carport (assigned, open) with 1 covered space
- Utilities
- Public waterPublic sewerCable available
- Home design
- CondominiumOne levelWest-facing
- Construction
- Concrete block construction with stuccoConcrete / pre-stressed roofBuilding named Tropic Harbor (4 stories)
- Exterior features
- Marina access with no fixed bridgeNo waterfront on property
Interior
- Kitchen
- DishwasherGarbage disposalRefrigeratorElectric water heater
- Bedrooms
- 2 bedrooms (both on the main level)
- Flooring
- CarpetCeramic tile
- Bathrooms
- 2 full bathrooms (both on the main level)
- Heating & cooling
- Electric heatingElectric cooling
- Interior features
- Walk-in closetsSplit bedroom layoutBlinds and shutters on windows
- Laundry & utility
- Laundry in common area
HOA detail $979/mo · $11,748/yr condo
- Likely covers
- waterpoolgym
- Assessments
- None detected in remarks — confirm with the listing agent.
Listing history 50 events
-
2026-11-08days on market $247,000 Active 39 DOM
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2026-11-07days on market $247,000 Active 38 DOM
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2026-11-06days on market $247,000 Active 37 DOM
-
2026-11-05days on market $247,000 Active 36 DOM
-
2026-11-04days on market $247,000 Active 35 DOM
-
2026-11-02days on market $247,000 Active 33 DOM
-
2026-11-01days on market $247,000 Active 32 DOM
-
2026-10-31days on market $247,000 Active 31 DOM
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2026-10-30days on market $247,000 Active 30 DOM
-
2026-10-29days on market $247,000 Active 29 DOM
-
2026-10-28days on market $247,000 Active 28 DOM
-
2026-10-27days on market $247,000 Active 27 DOM
-
2026-10-26days on market $247,000 Active 26 DOM
-
2026-10-26days on market $247,000 Active 25 DOM
-
2026-10-24days on market $247,000 Active 24 DOM
-
2026-10-23days on market $247,000 Active 23 DOM
-
2026-10-22days on market $247,000 Active 22 DOM
-
2026-10-21days on market $247,000 Active 21 DOM
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2026-10-20days on market $247,000 Active 20 DOM
-
2026-10-19days on market $247,000 Active 19 DOM
-
2026-10-18days on market $247,000 Active 18 DOM
-
2026-10-17days on market $247,000 Active 17 DOM
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2026-10-16days on market $247,000 Active 16 DOM
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2026-10-15days on market $247,000 Active 15 DOM
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2026-10-14days on market $247,000 Active 14 DOM
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2026-10-13days on market $247,000 Active 13 DOM
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2026-10-12days on market $247,000 Active 12 DOM
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2026-10-11days on market $247,000 Active 11 DOM
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2026-10-10days on market $247,000 Active 10 DOM
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2026-10-09days on market $247,000 Active 9 DOM
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2026-10-08days on market $247,000 Active 8 DOM
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2026-10-07days on market $247,000 Active 7 DOM
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2026-10-06days on market $247,000 Active 6 DOM
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2026-10-05days on market $247,000 Active 5 DOM
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2026-10-04days on market $247,000 Active 4 DOM
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2026-10-04days on market $247,000 Active 3 DOM
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2026-10-02days on market $247,000 Active 2 DOM
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2026-10-01pricedays on market $247,000 Active 1 DOM
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2026-06-26days on market $257,000 Active 81 DOM
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2026-06-24days on market $257,000 Active 79 DOM
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2026-06-22days on market $257,000 Active 77 DOM
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2026-06-21days on market $257,000 Active 76 DOM
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2026-06-18days on market $257,000 Active 73 DOM
-
2026-06-17days on market $257,000 Active 72 DOM
-
2026-06-16days on market $257,000 Active 71 DOM
-
2026-06-15days on market $257,000 Active 70 DOM
-
2026-06-13days on market $257,000 Active 68 DOM
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2026-06-09days on market $257,000 Active 64 DOM
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2026-06-08days on market $257,000 Active 63 DOM
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2026-06-07days on market $257,000 Active 62 DOM
ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot
backfill from property_details.listing_events for pre-trigger history.
Climate risk First Street
- Flood 6/10 Major FEMA zone AE · 66% chance over 30 yrs
- Wildfire 1/10 Low
- Heat 9/10 Extreme 7 d/yr ≥106°F today · 25 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
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
Loading nearby amenities…
Taxation est. · year 1
- Rental income
- $36,563
- − Mortgage interest
- −$13,836
- − Property taxes
- −$3,705
- − Insurance
- −$6,354
- − Repairs & maintenance
- −$2,925
- − Management
- −$2,925
- − HOA
- −$11,748
- − Depreciation
- −$7,185
- Taxable loss
- −$12,115
- Est. tax savings @ 24.0%
- +$2,908
- After-tax cash flow
- $-5,558/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.
Condition & rehab AI · 12 photos
This 55+ waterfront condo is in good condition with a good condition score of 80. It offers a great location and amenities, making it a good investment opportunity.
Value-add opportunities
- Both Painting — Enhances curb appeal and interior aesthetics ↑
- Both New flooring — Improves living space and resale value ↑
- Both Kitchen and bathroom updates — Modernizes spaces and increases value ↑
- Both HVAC upgrade — Improves comfort and energy efficiency ↑
- Both Landscaping and curb appeal — Enhances property's visual appeal ↑
ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.
Zoned Schools
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
Schools grade is shown separately in the Schools card above.
Census & demographics
- Census place
- Delray Beach, FL
- County
- Palm Beach County · 1,637,487 people
- City population
- 123,167
- Metro
- Miami-Fort Lauderdale-Pompano Beach, FL
- Population (ZIP)
- 12,669
- Household income
- $116,115
- Rent vs Own
- Severe rent burden
- 13% of renters
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 (80%)
- Race & ethnicity
- White 80% Black 9% Two or more races 5% Hispanic / Latino 5% Asian 2%
- Hispanic origin (detail)
- Puerto Rican 1%
- Languages at home
- 85% English-only · French/Haitian/Cajun 7% Spanish 4% Other Indo-European 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
- ▼ -362.41%
- Current HPI
- 415.6944
- Rent YoY
- ▲ 6.87%
- 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 |
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| Insurance | 2 | $17B |
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| Retail | 1 | $60B |
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| Technology Distribution | 1 | $58B |
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| Homebuilding | 1 | $35B |
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| Technology Manufacturing | 1 | $35B |
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Price history
-6.8% since first listed4 events — show timeline
- 2026-09-28 Listed $247,000 Beaches MLS
- 2026-06-26 Listing Removed — Beaches MLS
- 2026-06-03 Price Changed $257,000 Beaches MLS
- 2026-04-06 Listed $265,000 Beaches MLS
Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…