359 Capri Dr · Delray Beach, FL 33484

$62,000

1 bd · 2.0 ba · 760 sqft · Other · 23 Days on market

Built 1978 Fair condition

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into Resort Style Living on a Budget. This 1 bd 1.5 BA Single level home on the first floor, and assigned parking is adjacent to the condo. It is Freshly Painted neutral, floors are tiled and newly carpeted (bedroom). Has new bathroom fixtures, full sized washer & amp; dryer and comes with a full Home warranty protection. Call for appointment for a viewing.

Key facts

• Built 1978
• Listed 23 days

Property features AI

Exterior

• Home design: Built in 1978
• Construction: Living area approximately 760
• Exterior features: Located in the Kings Point subdivision

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath other listed at $62k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $62k).
• Recommended offer: $61k (1.5% below list) — sets the bar for market timing.
• Cap rate 26.3% 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.
• Market conditions: Rents rising fast (+4.3%/yr); 546 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).
• This rent runs 36% of the median local income ($62k/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 $429 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($61k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $61,070 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 2.98% ✓
• Cap rate: 26.28%
• Cash-on-cash: 71.37%
• DSCR: 4.18
• GRM: 2.8

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: 72.5%
• Equity multiple: 4.35×
• Total profit: $58,149
• Equity at exit: $9,244

10-year hold

• IRR: 76.7%
• Equity multiple: 9.39×
• Total profit: $145,578
• Equity at exit: $5,361

Cash invested: $17,360 (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: 546
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,849 high
• Mortgage (P&I): −$325
• Tax est. 1.5%: −$78 /mo · $930/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $1,032

Break-even live

Break-even rent $542

Max offer price $62,000

Occupancy floor 39%

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
207 Capri E #207 Delray Beach, FL	2.0	2.0	910	$1,700	$1.87	8d	1	0.08mi
556 Capri L Unit L Delray Beach, FL	2.0	2.0	910	$1,575	$1.73	24d	1	0.10mi
98 Capri C Delray Beach, FL	1.0	1.5	795	$1,695	$2.13	24d	1	0.13mi
960 Flanders T Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	24d	1	0.13mi
560 Capri Ln Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	24d	1	0.13mi
522 Capri K Unit K Delray Beach, FL	1.0	1.5	730	$1,350	$1.85	24d	1	0.14mi
115 Capri B Unit 115 Delray Beach, FL	2.0	2.0	1044	$2,000	$1.92	24d	1	0.14mi
66 Capri B Unit B Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	15d	1	0.16mi
509 Capri Dr Unit 509 Delray Beach, FL	2.0	2.0	910	$2,500	$2.75	2d	1	0.18mi
507 Capri Dr Delray Beach, FL	2.0	2.0	910	$2,200	$2.42	24d	1	0.18mi
811 Flanders Q Delray Beach, FL	2.0	2.0	920	$1,700	$1.85	3d	1	0.18mi
811 Flanders Q Delray Beach, FL	2.0	2.0	920	$1,700	$1.85	14d	1	0.18mi
66 Capri B #66 Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	19d	1	0.19mi
468 Capri J Delray Beach, FL	2.0	2.0	910	$1,400	$1.54	24d	1	0.19mi
29 Burgundy a Delray Beach, FL	2.0	2.0	902	$1,800	$2.00	24d	1	0.23mi
974 Normandy Trl #974 Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	24d	1	0.25mi
39 Burgundy a Delray Beach, FL	2.0	2.0	902	$1,400	$1.55	24d	1	0.26mi
481 Burgundy K Delray Beach, FL	2.0	2.0	902	$1,700	$1.88	24d	1	0.28mi
930 Normandy T Delray Beach, FL	1.0	1.5	760	$2,800	$3.68	8d	1	0.29mi
794 Normandy Q Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	17d	1	0.29mi
949 Normandy Trl Unit 949 Delray Beach, FL	2.0	2.0	907	$3,500	$3.86	24d	1	0.29mi
595 Normandy M Delray Beach, FL	2.0	2.0	907	$1,750	$1.93	24d	1	0.31mi
120 Normandy C Delray Beach, FL	1.0	1.5	760	$1,495	$1.97	8d	1	0.33mi
177 Flanders Dr Unit 177 Delray Beach, FL	2.0	2.0	920	$1,600	$1.74	24d	1	0.33mi
697 Flanders O Delray Beach, FL	1.0	1.5	760	$1,400	$1.84	2d	1	0.34mi
457 Flanders Dr Unit 457 Delray Beach, FL	1.0	1.5	760	$2,800	$3.68	24d	1	0.34mi
278 Flanders Dr Unit 278 Delray Beach, FL	1.0	1.5	828	$1,290	$1.56	24d	1	0.34mi
173 Flanders Dr Unit 173 Delray Beach, FL	2.0	2.0	920	$2,400	$2.61	24d	1	0.34mi
205 Flanders Dr Unit 205 Delray Beach, FL	2.0	2.0	883	$1,750	$1.98	24d	1	0.34mi
998 Normandy Trl Unit 998 Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	24d	1	0.34mi
998 Normandy Trl Unit 998 Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	15d	1	0.34mi
452 Normandy J Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	24d	1	0.35mi
452 Normandy J Unit J Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	24d	1	0.35mi
542 Normandy Ln Unit 542 Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	24d	1	0.35mi
166 Piedmont Way Delray Beach, FL	2.0	2.0	910	$1,600	$1.76	24d	1	0.35mi
137 Piedmont Way Unit 137 Delray Beach, FL	2.0	2.0	1040	$2,300	$2.21	11d	1	0.36mi
812 Burgundy Q Delray Beach, FL	2.0	2.0	907	$1,799	$1.98	24d	1	0.37mi
176 Piedmont D Delray Beach, FL	2.0	2.0	910	$1,600	$1.76	24d	1	0.40mi
313 Burgundy G Delray Beach, FL	2.0	2.0	907	$2,050	$2.26	24d	1	0.41mi
767 Burgundy P Delray Beach, FL	2.0	2.0	902	$1,550	$1.72	24d	1	0.41mi

Listing history 12 events

1. 2026-06-18
   days on market $62,000 Active 23 DOM
2. 2026-06-17
   days on market $62,000 Active 22 DOM
3. 2026-06-16
   days on market $62,000 Active 21 DOM
4. 2026-06-15
   days on market $62,000 Active 20 DOM
5. 2026-06-13
   days on market $62,000 Active 18 DOM
6. 2026-06-09
   days on market $62,000 Active 14 DOM
7. 2026-06-07
   days on market $62,000 Active 12 DOM
8. 2026-06-04
   days on market $62,000 Active 9 DOM
9. 2026-06-03
   days on market $62,000 Active 8 DOM
10. 2026-06-01
    days on market $62,000 Active 6 DOM
11. 2026-05-31
    days on market $62,000 Active 5 DOM
12. 2026-05-26
    listed $62,000 Active

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°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: $22,191
• − Mortgage interest: −$3,473
• − Property taxes: −$930
• − Insurance: −$310
• − Repairs & maintenance: −$1,775
• − Management: −$1,775
• − Depreciation: −$1,804
• Taxable income: $12,124
• Est. tax owed @ 24.0%: −$2,910
• After-tax cash flow: $9,479/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 · 1 photo

Fair 40/100 Cosmetic rehab

Blurred exterior image suggests potential major repairs needed. Interior details are not visible. Painting and exterior repairs would significantly improve the home's value.

Repairs flagged

• Major exterior siding — Blurred image, no clear view of exterior
• Minor interior walls — No visible interior details

Value-add opportunities

• Both paint exterior and interior — Painting will improve curb appeal and interior aesthetics
• Both repair exterior siding — Repairing the siding will address a major issue and improve the home's appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Blurred image, no clear view of exterior	Major	$15,000–50,000
interior walls · No visible interior details	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both paint exterior and interior — Painting will improve curb appeal and interior aesthetics ↑
• Both repair exterior siding — Repairing the siding will address a major issue and improve the home's appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-05-26 Listed $62,000 FSBO.com