697 Flanders O #697 · Delray Beach, FL 33484

$89,500

1 bd · 1.5 ba · 760 sqft · Condo · 40 Days on market

Built 1977 $669/mo HOA · 36% of rent

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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).

• Cash flow +23.6/30.0
• 1% rule +10.0/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NICE CONDO EXTRA CLOSETS CORNER UNIT WITH VIEW OF GOLF COURSE FROM BALCONY ELEVATOR LIFT IN AND PAID FOR VERY ACTIVE ADULT COMMUNITY FREE BUS SERVICE !!!!BRING ALL OFFERS!!!!

Key facts

• $669 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Senior community; Directions: From Jog Road, east on Linton Blvd, north into Kings Point gate; after gate follow left to Building O. Unit 697 is a 2nd-floor end unit.
• Financial info: Pets allowed with possible restrictions (breed, size, number limits); contact association for details
• HOA & community: Association: FIRST SERVICE RESIDENTIAL; Monthly association fee includes maintenance of grounds, water, common real estate tax, elevator, reserves, and pool service; Association amenities include clubhouse, fitness center, indoor pool, outdoor pool, tennis, pickleball and shuffleboard courts, basketball, bocce, billiards, library, cafe/restaurant, hobby room, courtesy bus, on-site manager, gated/security and parking; Monthly HOA fee

Exterior

• Parking: Assigned parking space (1 open parking space total)
• Security: Building security; Gated community with guard
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Water connected; Sewer connected
• Home design: Condominium; Two-story building; unit entry level is 2; One living level; Resale property; Accessible elevator installed; Faces south
• Construction: Concrete block construction (no stucco); Concrete / pre-stressed roof; Block foundation; Built as part of building named FLANERS O
• Exterior features: Covered patio; Patio with glass enclosure; Private paved road frontage; Waterfront community (no specific waterfront feature listed)

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: One bedroom on the main level
• Flooring: Ceramic tile flooring
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central heating (electric); Central air; Wall/window air conditioning units
• Interior features: No special interior features listed; Furnished status negotiable
• Laundry & utility: Laundry inside the unit

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: Orchard View Elementary School (math 48% / reading 47%, grade D, #1,182 of 2,144 statewide, top 55%, 596 students, 76% FRL); Carver Middle School (math 22% / reading 34%, grade F, #486 of 571 statewide, top 86%, 732 students, 73% FRL); Spanish River Community High School (math 64% / reading 74%, grade B, #63 of 667 statewide, top 10%, 2,578 students, 25% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 543 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $619 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y 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 $17k; list at $90k implies a 426% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 36% 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 $86,815 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 2.06% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.10%
• DSCR: 1.36
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.28% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.96×
• Total profit: $-889
• Equity at exit: $13,345

10-year hold

• IRR: 11.4%
• Equity multiple: 2.00×
• Total profit: $25,007
• Equity at exit: $7,738

Cash invested: $25,060 (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 33484

• Rents YoY: 4.3%
• Active inventory: 543
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,844 high
• Mortgage (P&I): −$469
• Tax est. 1.5%: −$112 /mo · $1,342/yr
• Insurance: −$37
• HOA: −$669
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $169

Break-even live

Break-even rent $1,630

Max offer price $89,500

Occupancy floor 86%

Sensitivity live

Price	-10% $231	-5% $200	+0% $169	+5% $138	+10% $107
Rent	-10% $23	-5% $96	+0% $169	+5% $242	+10% $315
Rate	-1.0pp $214	-0.5pp $192	base $169	+0.5pp $146	+1.0pp $122

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
960 Flanders T Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	25d	1	0.08mi
811 Flanders Q Delray Beach, FL	2.0	2.0	920	$1,700	$1.85	4d	1	0.12mi
811 Flanders Q Delray Beach, FL	2.0	2.0	920	$1,700	$1.85	15d	1	0.12mi
207 Capri E #207 Delray Beach, FL	2.0	2.0	910	$1,700	$1.87	9d	1	0.12mi
98 Capri C Delray Beach, FL	1.0	1.5	795	$1,695	$2.13	25d	1	0.14mi
556 Capri L Unit L Delray Beach, FL	2.0	2.0	910	$1,575	$1.73	25d	1	0.14mi
560 Capri Ln Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	25d	1	0.17mi
115 Capri B Unit 115 Delray Beach, FL	2.0	2.0	1044	$2,000	$1.92	25d	1	0.17mi
66 Capri B Unit B Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	16d	1	0.18mi
522 Capri K Unit K Delray Beach, FL	1.0	1.5	730	$1,350	$1.85	25d	1	0.19mi
66 Capri B #66 Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	20d	1	0.22mi
468 Capri J Delray Beach, FL	2.0	2.0	910	$1,400	$1.54	25d	1	0.22mi
507 Capri Dr Delray Beach, FL	2.0	2.0	910	$2,200	$2.42	25d	1	0.24mi
509 Capri Dr Unit 509 Delray Beach, FL	2.0	2.0	910	$2,500	$2.75	3d	1	0.24mi
974 Normandy Trl #974 Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	25d	1	0.24mi
794 Normandy Q Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	18d	1	0.27mi
177 Flanders Dr Unit 177 Delray Beach, FL	2.0	2.0	920	$1,600	$1.74	25d	1	0.27mi
697 Flanders O Delray Beach, FL	1.0	1.5	760	$1,400	$1.84	3d	1	0.27mi
173 Flanders Dr Unit 173 Delray Beach, FL	2.0	2.0	920	$2,400	$2.61	25d	1	0.28mi
278 Flanders Dr Unit 278 Delray Beach, FL	1.0	1.5	828	$1,290	$1.56	25d	1	0.28mi
457 Flanders Dr Unit 457 Delray Beach, FL	1.0	1.5	760	$2,800	$3.68	25d	1	0.28mi
205 Flanders Dr Unit 205 Delray Beach, FL	2.0	2.0	883	$1,750	$1.98	25d	1	0.28mi
29 Burgundy a Delray Beach, FL	2.0	2.0	902	$1,800	$2.00	25d	1	0.29mi
166 Piedmont Way Delray Beach, FL	2.0	2.0	910	$1,600	$1.76	25d	1	0.30mi
137 Piedmont Way Unit 137 Delray Beach, FL	2.0	2.0	1040	$2,300	$2.21	12d	1	0.30mi
120 Normandy C Delray Beach, FL	1.0	1.5	760	$1,575	$2.07	0d	1	0.31mi
595 Normandy M Delray Beach, FL	2.0	2.0	907	$1,750	$1.93	25d	1	0.32mi
930 Normandy T Delray Beach, FL	1.0	1.5	760	$2,800	$3.68	9d	1	0.32mi
39 Burgundy a Delray Beach, FL	2.0	2.0	902	$1,400	$1.55	25d	1	0.32mi
949 Normandy Trl Unit 949 Delray Beach, FL	2.0	2.0	907	$3,500	$3.86	25d	1	0.33mi
481 Burgundy K Delray Beach, FL	2.0	2.0	902	$1,700	$1.88	25d	1	0.34mi
176 Piedmont D Delray Beach, FL	2.0	2.0	910	$1,600	$1.76	25d	1	0.34mi
523 Piedmont E Unit 523 Delray Beach, FL	2.0	2.0	1044	$1,750	$1.68	25d	1	0.35mi
719 Flanders O Delray Beach, FL	2.0	2.0	920	$1,800	$1.96	25d	1	0.35mi
452 Normandy J Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	25d	1	0.36mi
452 Normandy J Unit J Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	25d	1	0.36mi
177 Flanders D Delray Beach, FL	2.0	2.0	920	$1,600	$1.74	25d	1	0.37mi
542 Normandy Ln Unit 542 Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	25d	1	0.38mi
998 Normandy Trl Unit 998 Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	25d	1	0.39mi
998 Normandy Trl Unit 998 Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	16d	1	0.39mi

HOA detail condo

• Monthly dues: $669 · $8,028/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $89,500 Active 40 DOM
2. 2026-06-18
   days on market $89,500 Active 37 DOM
3. 2026-06-17
   days on market $89,500 Active 36 DOM
4. 2026-06-16
   days on market $89,500 Active 35 DOM
5. 2026-06-15
   days on market $89,500 Active 34 DOM
6. 2026-06-13
   days on market $89,500 Active 32 DOM
7. 2026-06-09
   days on market $89,500 Active 28 DOM
8. 2026-06-08
   days on market $89,500 Active 27 DOM
9. 2026-06-07
   days on market $89,500 Active 26 DOM
10. 2026-06-04
    days on market $89,500 Active 23 DOM
11. 2026-06-03
    days on market $89,500 Active 22 DOM
12. 2026-06-02
    days on market $89,500 Active 21 DOM
13. 2026-06-01
    days on market $89,500 Active 20 DOM
14. 2026-05-31
    days on market $89,500 Active 19 DOM
15. 2026-05-12
    listed $89,500 Active
16. 2001-11-14
    soldstatus $17,000 174-char remark

    Show marketing remark (174 chars)

    NICE CONDO EXTRA CLOSETS CORNER UNIT WITH VIEW OF GOLF COURSE FROM BALCONY ELEVATOR LIFT IN AND PAID FOR VERY ACTIVE ADULT COMMUNITY FREE BUS SERVICE !!!!BRING ALL OFFERS!!!!

17. 2001-11-06
    historical 174-char remark

    Show marketing remark (174 chars)

    NICE CONDO EXTRA CLOSETS CORNER UNIT WITH VIEW OF GOLF COURSE FROM BALCONY ELEVATOR LIFT IN AND PAID FOR VERY ACTIVE ADULT COMMUNITY FREE BUS SERVICE !!!!BRING ALL OFFERS!!!!

18. 2001-08-27
    listed $19,900 174-char remark

    Show marketing remark (174 chars)

    NICE CONDO EXTRA CLOSETS CORNER UNIT WITH VIEW OF GOLF COURSE FROM BALCONY ELEVATOR LIFT IN AND PAID FOR VERY ACTIVE ADULT COMMUNITY FREE BUS SERVICE !!!!BRING ALL OFFERS!!!!

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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: $22,126
• − Mortgage interest: −$5,013
• − Property taxes: −$1,342
• − Insurance: −$448
• − Repairs & maintenance: −$1,770
• − Management: −$1,770
• − HOA: −$8,028
• − Depreciation: −$2,604
• Taxable income: $1,151
• Est. tax owed @ 24.0%: −$276
• After-tax cash flow: $1,753/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): 26,208
• Household income: $62,151
• Rent vs Own: 19.0% rent · 81.0% own
• Severe rent burden: 991.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 10% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Scotch-Irish 7% Romanian 6% Italian 2%
• Foreign-born: 23% · Canada, Jamaica, China
• Languages at home: 76% English-only · Spanish 13% Russian/Polish/Slavic 3% French/Haitian/Cajun 3%

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: ▼ -232.73%
• Current HPI: 254.5016
• Rent YoY: ▲ 4.28%
• 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

+349.7% since first listed

4 events — show timeline

• 2026-05-12 Listed $89,500 Beaches MLS
• 2001-11-14 Sold (MLS) $17,000 Beaches MLS
• 2001-11-06 Listing Removed — Beaches MLS
• 2001-08-27 Listed $19,900 Beaches MLS