12511 Imperial Isle Dr #402 · Delray Beach, FL 33437

$249,900

3 bd · 2.0 ba · 1,795 sqft · Condo public records · 22 Days on market

Built 2001 $1153/mo HOA · 32% 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 +15.2/30.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Appreciation +4.9/10.0
• DSCR +4.6/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

''A RARE PENTHOUSE MAJESTY. LAKE VIEW - 18'''' TILES - CARPETED BEDROOMS -'' UPGRADED APPLIANCES - QUICK CLOSING - BUYER SAVES - $$ CLUBHOUSE.

Key facts

• Fitness center
• Lake views
• Renovated clubhouse

Tags

• LAKE VIEWS
• SPLIT-BEDROOM FLOOR PLAN
• BRAND-NEW ROOF
• RENOVATED CLUBHOUSE
• INDOOR OUTDOOR POOLS
• FITNESS CENTER

Property features AI

Finance

• Other: Senior community; Pets allowed (restrictions possible); Approximately 1,500 units in the community
• Financial info: Not a land-lease property
• HOA & community: Community association managed by Campbell Property Management; Monthly association fee; Association amenities include: clubhouse, lobby, community room, fitness center, indoor pool, pool, spa/hot tub, sauna, tennis courts, pickleball and bocce courts, jogging path, game room, billiard room, workshop/hobby rooms, library, cafe/restaurant, elevators, trash chute, maintained community, gated with security, and maintenance services; Association fee covers: cable TV, insurance, grounds maintenance, pest control, security, trash, water, common areas, common real estate tax, and elevator

Exterior

• Parking: Covered detached carport (1 space); Guest parking
• Security: Fire alarm; Fire sprinkler system; Smoke detectors; Security system; Gated community with security gate
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; One level; North-facing
• Construction: CBS construction; Other roof
• Exterior features: Waterfront property; Paved, privately maintained road

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal; Owned water purifier
• Bedrooms: Three bedrooms on the main level
• Flooring: Ceramic tile
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans; Humidity control
• Interior features: Entrance foyer; Vaulted ceilings; Walk-in closets; Split bedroom layout
• Laundry & utility: In-unit laundry room with laundry tub; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $85 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $246k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.7% 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); Carver Middle School (math 22% / reading 34%, grade F, #486 of 571 statewide, top 86%, 732 students, 73% 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 (+1.3%/yr); 489 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); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $3,574/mo this rent would consume 53% of the median local household income ($81k/yr) (locally 902% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $1k of equity ($2k loan paydown + $-604 appreciation (-0.2% local appreciation)).
• 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 22 days — a 2% lower offer ($246k) 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 $197k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: 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.

Recommended offer $246,151 (1.5% below list)

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: 1.43% ✓
• Cap rate: 6.70%
• Cash-on-cash: 1.46%
• DSCR: 1.06
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.24% appreciation · 1.28% rent growth · sell at horizon

5-year hold

• IRR: -3.2%
• Equity multiple: 0.86×
• Total profit: $-10,122
• Equity at exit: $69,558

10-year hold

• IRR: 0.9%
• Equity multiple: 1.09×
• Total profit: $6,430
• Equity at exit: $81,250

Cash invested: $69,972 (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 33437

• Home prices YoY: -0.1%
• Rents YoY: 1.3%
• Active inventory: 489
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $3,574 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$171 /mo · $2,052/yr
• Insurance: −$104
• HOA: −$1,153
• Vacancy / Maint / Mgmt: −$751
• Net cashflow: $85

Break-even live

Break-even rent $3,467

Max offer price $249,900

Occupancy floor 93%

Sensitivity live

Price	-10% $227	-5% $156	+0% $85	+5% $14	+10% $-56
Rent	-10% $-197	-5% $-56	+0% $85	+5% $226	+10% $367
Rate	-1.0pp $211	-0.5pp $149	base $85	+0.5pp $20	+1.0pp $-46

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12547 Imperial Isle Dr Boynton Beach, FL	2.0–3.0	2.0	1500	$4,500	$3.00	26d	2	0.07mi
12390 Summer Springs Dr Boynton Beach, FL	3.0	2.0	1861	$3,300	$1.77	26d	1	0.22mi
12299 Forest Greens Dr Boynton Beach, FL	2.0	2.0	1310	$2,450	$1.87	19d	1	0.29mi
13056 Anthorne Ln Unit 113 Boynton Beach, FL	3.0	2.5	1755	$3,600	$2.05	0d	1	0.36mi
5574 Royal Lake Cir Boynton Beach, FL	3.0	2.0	1658	$5,000	$3.02	16d	1	0.37mi
5335 Vernio Ln Boynton Beach, FL	3.0	2.0	1798	$3,700	$2.06	26d	1	0.39mi
5952 Regal Glen Dr #103 Boynton Beach, FL	3.0	2.0	1813	$2,550	$1.41	26d	1	0.42mi
12654 Via Ravenna Boynton Beach, FL	3.0	2.0	1729	$3,500	$2.02	26d	1	0.49mi
12118 Country Greens Blvd Boynton Beach, FL	3.0	2.0	1566	$3,000	$1.92	12d	1	0.49mi
12932 Anthorne Ln Boynton Beach, FL	4.0	3.5	2008	$3,750	$1.87	22d	1	0.56mi
5750 Fairway Park Ct #101 Boynton Beach, FL	3.0	2.0	1426	$1,850	$1.30	26d	1	0.68mi
13297 Via Vulcanus Unit B Delray Beach, FL	2.0	2.0	1527	$3,000	$1.96	9d	1	0.79mi
13404 Brotherhood Way Delray Beach, FL	4.0	3.0	2509	$6,950	$2.77	23d	1	0.80mi
13431 Amber Waves Ave Delray Beach, FL	2.0	2.0	1390	$3,500	$2.52	26d	1	0.81mi
13255 Royale Sabal Ct Delray Beach, FL	3.0	2.5	1618	$4,300	$2.66	26d	1	0.86mi
5449 Grande Palm Cir Delray Beach, FL	3.0	2.5	1618	$4,000	$2.47	26d	1	0.87mi
5449 Grande Palm Cir Delray Beach, FL	3.0	2.5	1618	$4,000	$2.47	19d	1	0.87mi
11690 Briarwood Cir Boynton Beach, FL	3.0	2.0	1952	$3,400	$1.74	26d	1	0.88mi
6599 Old Farm Trl #6599 Boynton Beach, FL	3.0	2.5	1441	$3,000	$2.08	26d	1	0.88mi
13759 Date Palm Ct Unit A Delray Beach, FL	2.0	2.0	1247	$3,500	$2.81	26d	1	0.92mi
6633 Old Farm Trl Boynton Beach, FL	3.0	2.5	1441	$3,500	$2.43	26d	1	0.97mi
5256 Glenville Dr Boynton Beach, FL	3.0	2.0	2015	$5,000	$2.48	3d	1	1.01mi
5260 Grande Palm Cir Delray Beach, FL	3.0	2.0	1464	$2,800	$1.91	26d	1	1.03mi
13653 Jubilee Ln Delray Beach, FL	3.0	2.0	1305	$3,450	$2.64	15d	1	1.05mi
11853 Fountainside Cir Boynton Beach, FL	3.0	3.5	2410	$3,800	$1.58	26d	1	1.09mi
6685 Old Farm Trl Boynton Beach, FL	3.0	2.0	1361	$2,995	$2.20	26d	1	1.10mi
13657 Night Sky Pl Delray Beach, FL	2.0	2.0	1319	$3,200	$2.43	9d	1	1.11mi
5570 Piping Rock Dr Boynton Beach, FL	2.0	2.0	1478	$2,850	$1.93	26d	1	1.13mi
5570 Piping Rock Dr Boynton Beach, FL	2.0	2.0	1478	$3,000	$2.03	1d	1	1.13mi
13419 Noble Dr Delray Beach, FL	2.0	2.0	1410	$3,600	$2.55	19d	1	1.16mi
6038 Lasalle Rd Delray Beach, FL	2.0	2.0	1475	$2,100	$1.42	6d	1	1.18mi
6725 Old Farm Trl Boynton Beach, FL	3.0	2.5	1441	$3,000	$2.08	22d	1	1.19mi
1418 W Wickham Cir Unit B Delray Beach, FL	3.0	2.5	1316	$3,200	$2.43	19d	1	1.20mi
4574 Danson Way Delray Beach, FL	3.0	2.5	1654	$3,300	$2.00	26d	1	1.23mi
13776 Hero Path Delray Beach, FL	3.0	2.0	1319	$3,400	$2.58	26d	1	1.26mi
5200 Privet Pl Unit C Delray Beach, FL	2.0	2.0	1457	$1,850	$1.27	26d	1	1.29mi
20 Westgate Ln Unit 20G Boynton Beach, FL	2.0	2.0	1712	$7,990	$4.67	12d	1	1.34mi
11211 S Military Trl Boynton Beach, FL	1.0–3.0	1.0–2.0	1033	$2,688	$2.60	0d	31	1.38mi
1590 Verawood Ln Delray Beach, FL	3.0	2.5	2295	$4,400	$1.92	13d	1	1.39mi
19 Westgate Ln Unit 19F Boynton Beach, FL	2.0	2.0	1661	$6,750	$4.06	0d	1	1.40mi

HOA detail condo

• Monthly dues: $1,153 · $13,836/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-21
   days on market $249,900 Active 22 DOM
2. 2026-06-18
   days on market $249,900 Active 19 DOM
3. 2026-06-17
   days on market $249,900 Active 18 DOM
4. 2026-06-16
   days on market $249,900 Active 17 DOM
5. 2026-06-15
   days on market $249,900 Active 16 DOM
6. 2026-06-13
   days on market $249,900 Active 14 DOM
7. 2026-06-09
   days on market $249,900 Active 10 DOM
8. 2026-06-08
   days on market $249,900 Active 9 DOM
9. 2026-06-07
   days on market $249,900 Active 8 DOM
10. 2026-06-04
    days on market $249,900 Active 5 DOM
11. 2026-06-03
    days on market $249,900 Active 4 DOM
12. 2026-06-02
    days on market $249,900 Active 3 DOM
13. 2026-06-01
    days on market $249,900 Active 2 DOM
14. 2026-05-31
    remarks 699-char remark
15. 2026-05-31
    listed $249,900 Active 1 DOM

ⓘ 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: $2,052 · $171/mo
• Projected year-2 tax: $2,074 · $173/mo
• Expected delta: +$22/yr (+$2/mo · 1.1%)

ⓘ 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 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,892
• − Mortgage interest: −$13,998
• − Property taxes: −$2,052
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,431
• − Management: −$3,431
• − HOA: −$13,836
• − Depreciation: −$7,270
• Taxable loss: −$2,376
• Est. tax savings @ 24.0%: +$570
• After-tax cash flow: $1,591/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): 37,229
• Household income: $80,710
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 902.0

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 (68%)
• Race & ethnicity: White 68% Two or more races 13% Hispanic / Latino 12% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1% Dominican 1%
• Common ancestry: Scotch-Irish 8% Romanian 8% Hispanic 6%
• Foreign-born: 18% · Canada, Jamaica, Vietnam
• Languages at home: 78% English-only · Spanish 10% French/Haitian/Cajun 6% 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: ▼ -0.24%
• Current HPI: 257.5891
• Rent YoY: ▲ 1.28%
• 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

+66.6% since first listed

5 events — show timeline

• 2026-05-29 Listed $249,900 Beaches MLS
• 2003-06-11 Sold (Public Records) $197,000 Public Records
• 2002-01-31 Sold (MLS) $143,000 Beaches MLS
• 2001-12-03 Listing Removed — Beaches MLS
• 2001-09-10 Listed $149,999 Beaches MLS

Property tax history

+0.8%/yr

Latest (2025): $2,052 · +4.0% YoY. Source: county tax records.