1232 Club Dr W Unit D · Delray Beach, FL 33445

$240,900

2 bd · 2.0 ba · 1,137 sqft · Condo public records · 78 Days on market

Built 1978 $457/mo HOA · 19% of rent

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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 +11.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• DSCR +3.2/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully updated and well-maintained 2-bedroom, 2-bath villa with a bonus office/flex room in desirable High Point 55+ community. This bright and spacious home features a modern kitchen with quartz countertops, stainless steel appliances, renovated bathrooms, tile flooring, in-unit washer and dryer, storm shutters, and a comfortable Florida room/patio perfect for relaxing. Low HOA includes cable, water, landscaping, roof maintenance, pool, clubhouse, tennis courts, and more. Peaceful low-maintenance lifestyle just minutes from Downtown Delray, restaurants, shopping, and the beach. Move-in ready. Additional details available upon request.

Key facts

• Quartz countertops
• Renovated bathrooms
• Florida room

Tags

• FLORIDA ROOM
• MODERN KITCHEN
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• RENOVATED BATHROOMS
• WEST-FACING PATIO

Property features AI

Finance

• Other: No pets allowed; Senior community
• HOA & community: Monthly HOA: $457; Community amenities include pool, clubhouse, community room, billiard room, game room, laundry facilities, shuffleboard court, tennis courts, parking, on-site manager and management; HOA covers cable TV, grounds maintenance, sewer, trash, water, common area maintenance, roof repairs and recreation facilities

Exterior

• Parking: Assigned parking; Guest parking; 1 open parking space (total 1)
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Water available; Sewer available
• Home design: Villa; Multi/split levels; Resale condition; Faces east
• Construction: Block/Concrete/Stucco (CBS) construction; Flat roof; 1 story
• Exterior features: Open patio; Patio

Interior

• Kitchen: Disposal; Dishwasher; Electric range; Electric cooktop; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Ceramic tile; Tile; Vinyl; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans; Electric cooling
• Interior features: Kitchen island; Walk-in closet(s); Stacked bedroom layout
• Laundry & utility: In-unit laundry room (inside)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $241k.

Deal economics

• At list price, monthly cash flow is $-97 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (7.1% below list).
• Meets the 1% rule at list price ($2k rent vs $241k).
• Recommended offer: $224k (7.1% below list) — sets the bar for cash-flow.
• Cap rate 5.8% 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: Banyan Creek Elementary School (math 62% / reading 64%, grade B, #582 of 2,144 statewide, top 28%, 844 students, 51% FRL); Atlantic High School (math 28% / reading 52%, grade F, #296 of 667 statewide, top 45%, 1,889 students, 59% FRL) — zoned schools at 55% FRL track the district average.
• 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 25d 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 37% 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 $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 78 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y 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 $150k; list at $241k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $223,806 (7.1% 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 78 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.00% ✓
• Cap rate: 5.81%
• Cash-on-cash: -1.72%
• DSCR: 0.92
• GRM: 8.3

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: -20.6%
• Equity multiple: 0.29×
• Total profit: $-47,762
• Equity at exit: $35,919

10-year hold

• IRR: -17.0%
• Equity multiple: 0.11×
• Total profit: $-59,782
• Equity at exit: $20,829

Cash invested: $67,452 (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: 8.3×

Monthly cashflow live

• Estimated rent: $2,411 high
• Mortgage (P&I): −$1,263
• Tax from tax record: −$180 /mo · $2,166/yr
• Insurance: −$100
• HOA: −$457
• Vacancy / Maint / Mgmt: −$506
• Net cashflow: $-97

Break-even live

Break-even rent $2,533

Max offer price $223,806

Occupancy floor 99%

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: $60,225
• Closing costs: $7,227
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1252 Club Dr W Unit D Delray Beach, FL	2.0	2.0	1137	$2,100	$1.85	5d	1	0.18mi
1252 Club Dr W Unit D Delray Beach, FL	2.0	2.0	1137	$2,100	$1.85	24d	1	0.18mi
1155 South Drive Cir Unit A Delray Beach, FL	2.0	2.0	1080	$2,195	$2.03	24d	1	0.20mi
1152 Circle Dr Unit D Delray Beach, FL	2.0	2.0	1200	$2,000	$1.67	24d	1	0.20mi
1152 Circle Dr Unit D Delray Beach, FL	2.0	2.0	1200	$2,000	$1.67	12d	1	0.20mi
1142 Circle Ter W Unit C Delray Beach, FL	1.0	1.5	1080	$1,700	$1.57	3d	1	0.23mi
4310 Village Dr Unit D Delray Beach, FL	3.0	3.0	1326	$2,600	$1.96	24d	1	0.34mi
125 Via D Este Delray Beach, FL	1.0–3.0	1.0–2.0	1156	$3,290	$2.85	2d	13	0.35mi
3935 Village Dr Unit A Delray Beach, FL	3.0	3.0	1326	$2,700	$2.04	8d	1	0.36mi
3935 Village Dr Delray Beach, FL	3.0	3.0	1326	$2,700	$2.04	5d	1	0.36mi
4515 NW 3rd Ct Unit C Delray Beach, FL	1.0	2.0	1080	$1,900	$1.76	24d	1	0.37mi
215 NW 40th Ave Delray Beach, FL	3.0	2.0	1240	$3,350	$2.70	24d	1	0.39mi
212 High Point Ter W Unit C Delray Beach, FL	1.0	1.5	1122	$2,000	$1.78	22d	1	0.44mi
4510 NW 2nd St Unit A Delray Beach, FL	2.0	2.0	1080	$1,800	$1.67	24d	1	0.46mi
405 High Point Blvd Unit C Delray Beach, FL	1.0	1.5	994	$1,500	$1.51	24d	1	0.47mi
512 High Point Dr Unit C Delray Beach, FL	1.0	2.0	994	$2,100	$2.11	20d	1	0.47mi
707 High Point Blvd N Unit C Delray Beach, FL	1.0	1.5	994	$1,600	$1.61	24d	1	0.48mi
775 North Dr Unit A Delray Beach, FL	2.0	2.0	1175	$2,000	$1.70	11d	1	0.53mi
4477 NW 3rd Dr Delray Beach, FL	2.0	1.5	1109	$2,550	$2.30	24d	1	0.64mi
3996 NW 7th Ct Delray Beach, FL	3.0	2.0	1480	$5,000	$3.38	24d	1	0.67mi
305 SW 28th Ave Delray Beach, FL	2.0	2.0	1369	$4,300	$3.14	14d	1	0.67mi
354 SW 28th Ave Delray Beach, FL	2.0	2.0	1369	$5,450	$3.98	24d	1	0.67mi
5265 NW 3rd St Unit C Delray Beach, FL	1.0	1.5	1080	$2,200	$2.04	24d	1	0.72mi
5030 Lakefront Blvd Unit D Delray Beach, FL	2.0	2.0	1287	$1,700	$1.32	24d	1	0.75mi
14401 S Military Trl Delray Beach, FL	2.0–3.0	1.0–2.0	1094	$2,384	$2.18	2d	8	0.76mi
2480 S Coral Trace Cir Delray Beach, FL	2.0	2.0	1379	$2,900	$2.10	8d	1	0.78mi
227 Coral Trace Ln Unit 227 Delray Beach, FL	2.0	2.0	1376	$3,100	$2.25	24d	1	0.79mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	24d	1	0.82mi
797 NW 32nd Ave Delray Beach, FL	2.0	2.0	1480	$2,800	$1.89	17d	1	0.82mi
5126 Lakefront Blvd Unit D Delray Beach, FL	2.0	2.0	1186	$2,500	$2.11	21d	1	0.84mi
2622 NW 7th Ct Delray Beach, FL	2.0	2.5	1384	$2,750	$1.99	24d	1	0.88mi
14629 Canalview Dr Unit C Delray Beach, FL	1.0	2.0	1068	$1,600	$1.50	24d	1	0.90mi
14676 Canalview Dr Unit C Delray Beach, FL	1.0	2.0	1068	$1,775	$1.66	24d	1	0.90mi
5385 Lakefront Blvd Unit A Delray Beach, FL	2.0	2.0	1186	$2,200	$1.85	24d	1	0.90mi
5169 Lakefront Blvd Unit D Delray Beach, FL	2.0	2.0	1186	$2,300	$1.94	24d	1	0.90mi
872 NW 29th Ave Unit A Delray Beach, FL	2.0	2.0	1188	$2,700	$2.27	24d	1	0.91mi
13487 Barwick Rd Unit B Delray Beach, FL	2.0	1.5	1092	$3,900	$3.57	24d	1	0.91mi
5093 Privet Pl Unit A-1 Delray Beach, FL	2.0	2.0	1220	$2,350	$1.93	24d	1	1.04mi
5061 Nesting Way Unit D Delray Beach, FL	2.0	2.0	1255	$2,400	$1.91	24d	1	1.05mi
2915 NW 12th St Unit D Delray Beach, FL	2.0	2.0	1499	$3,200	$2.13	8d	1	1.07mi

HOA detail condo

• Monthly dues: $457 · $5,484/yr
• Likely covers: watercablelandscapingroofpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-18
   days on market $240,900 Active 78 DOM
2. 2026-06-17
   days on market $240,900 Active 77 DOM
3. 2026-06-16
   days on market $240,900 Active 76 DOM
4. 2026-06-15
   days on market $240,900 Active 75 DOM
5. 2026-06-13
   days on market $240,900 Active 73 DOM
6. 2026-06-09
   days on market $240,900 Active 69 DOM
7. 2026-06-08
   days on market $240,900 Active 68 DOM
8. 2026-06-07
   remarks 648-char remark
9. 2026-06-07
   days on market $240,900 Active 67 DOM
10. 2026-06-04
    days on market $240,900 Active 64 DOM
11. 2026-06-03
    days on market $240,900 Active 63 DOM
12. 2026-06-02
    days on market $240,900 Active 62 DOM
13. 2026-06-01
    days on market $240,900 Active 61 DOM
14. 2026-05-31
    days on market $240,900 Active 60 DOM
15. 2026-04-29
    price $240,900
16. 2026-04-01
    listed $242,000 Active
17. 2025-09-01
    historical
18. 2025-06-04
    listed $239,000 Active
19. 2024-10-03
    historical
20. 2024-08-28
    listed $269,000 Active
21. 2021-09-13
    soldstatus $150,000
22. 2021-08-31
    soldstatus $150,000 Closed
23. 2021-08-05
    historical Active Under Contract
24. 2021-07-24
    listed $159,900 Active
25. 2020-07-22
    soldstatus $105,000
26. 2020-07-17
    soldstatus $105,000 Closed
27. 2020-06-12
    historical Active Under Contract
28. 2020-06-10
    price $105,000
29. 2020-06-03
    status Active
30. 2020-05-20
    historical Active Under Contract
31. 2020-04-24
    status Active
32. 2020-03-27
    historical
33. 2020-03-06
    price $119,000
34. 2020-02-19
    price $124,900
35. 2020-02-04
    listed $129,000 Active
36. 2002-12-27
    soldstatus $74,000
37. 2000-11-29
    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: $2,166 · $180/mo
• Projected year-2 tax: $2,166 · $180/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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 27 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: $28,927
• − Mortgage interest: −$13,494
• − Property taxes: −$2,166
• − Insurance: −$1,204
• − Repairs & maintenance: −$2,314
• − Management: −$2,314
• − HOA: −$5,484
• − Depreciation: −$7,008
• Taxable loss: −$5,057
• Est. tax savings @ 24.0%: +$1,214
• After-tax cash flow: $53/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

+502.2% since first listed

23 events — show timeline

• 2026-04-29 Price Changed $240,900 Beaches MLS
• 2026-04-01 Listed $242,000 Beaches MLS
• 2025-09-01 Listing Removed — Beaches MLS
• 2025-06-04 Listed $239,000 Beaches MLS
• 2024-10-03 Listing Removed — MARMLS
• 2024-08-28 Listed $269,000 MARMLS
• 2021-09-13 Sold (Public Records) $150,000 Public Records
• 2021-08-31 Sold (MLS) $150,000 Beaches MLS
• 2021-08-05 Contingent — Beaches MLS
• 2021-07-24 Listed $159,900 Beaches MLS
• 2020-07-22 Sold (Public Records) $105,000 Public Records
• 2020-07-17 Sold (MLS) $105,000 Beaches MLS
• 2020-06-12 Contingent — Beaches MLS
• 2020-06-10 Price Changed $105,000 Beaches MLS
• 2020-06-03 Relisted — Beaches MLS
• 2020-05-20 Contingent — Beaches MLS
• 2020-04-24 Relisted — Beaches MLS
• 2020-03-27 Listing Removed — Beaches MLS
• 2020-03-06 Price Changed $119,000 Beaches MLS
• 2020-02-19 Price Changed $124,900 Beaches MLS
• 2020-02-04 Listed $129,000 Beaches MLS
• 2002-12-27 Sold (Public Records) $74,000 Public Records
• 2000-11-29 Sold (Public Records) $40,000 Public Records

Property tax history

+13.0%/yr

Latest (2025): $2,166 · +7.8% YoY. Source: county tax records.