14527 Bonaire Blvd #408 · Delray Beach, FL 33446

$174,800

2 bd · 2.0 ba · 1,060 sqft · Condo public records · 149 Days on market

Built 1980 $720/mo HOA · 26% 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 +21.3/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• Appreciation +5.3/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to Florida living at its best! this 2 bedroom, 2 bathroom condo is centrally located in the heart of Delray Beach, just a few miles to the beautiful beach, shopping, fine dining, street festivals, art galleries and enterntainment. Enjoy the beautiful view from your condo overlooking the lake. The pool is just a short walk to the clubhouse offering a fitness center, billiards and auditorium for events & activities offered. Community has a lovely path that is tree lined and winds around the lake. Don't miss this wonderful opportunity. Call today for your private showing.

Key facts

• Billiards
• Shuffleboards
• Library

Tags

• CUSTOM STORM WINDOWS
• CLUBHOUSE WITH POOL
• SHUFFLEBOARDS
• BILLIARDS
• LIBRARY
• INTERNET CABLE INCLUDED

Property features AI

Finance

• Financial info: Pets not allowed; Senior community
• HOA & community: Community with association; Monthly HOA fee; HOA includes cable TV, insurance, grounds maintenance, sewer, trash, water, common areas, elevator, and recreation facilities; Community amenities: billiard room, clubhouse, fitness center, pool, tennis courts, pickleball courts, trails, library, parking, street lights, trash chute, internet included

Exterior

• Parking: Assigned parking; 1 open parking space
• Security: Fire sprinkler system; Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Water available; Sewer available
• Home design: Condominium; 7-story building; Entry-level living area; Faces south
• Construction: Block/Concrete/CBS construction
• Exterior features: Porch; Waterfront

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms (main level)
• Flooring: Laminate flooring; Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans; Electric cooling
• Interior features: Walk-in closets; Satellite dish; Unfurnished
• Laundry & utility: Laundry closet inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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); Spanish River Community High School (math 64% / reading 74%, grade B, #63 of 667 statewide, top 10%, 2,578 students, 25% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: Rents flat; 584 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).
• This rent runs 41% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $1k appreciation (0.7% local appreciation)).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.7% appreciation + 0.5% rent growth), your $49k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 2→6/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $153,824 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.58% ✓
• Cap rate: 8.06%
• Cash-on-cash: 6.29%
• DSCR: 1.28
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.69% appreciation · 0.51% rent growth · sell at horizon

5-year hold

• IRR: 4.5%
• Equity multiple: 1.22×
• Total profit: $10,672
• Equity at exit: $56,842

10-year hold

• IRR: 6.7%
• Equity multiple: 1.72×
• Total profit: $35,484
• Equity at exit: $73,395

Cash invested: $48,944 (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 33446

• Home prices YoY: 0.3%
• Rents YoY: 0.5%
• Active inventory: 584
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,769 high
• Mortgage (P&I): −$917
• Tax from tax record: −$221 /mo · $2,656/yr
• Insurance: −$73
• HOA: −$720
• Vacancy / Maint / Mgmt: −$581
• Net cashflow: $257

Break-even live

Break-even rent $2,444

Max offer price $174,800

Occupancy floor 86%

Sensitivity live

Price	-10% $356	-5% $306	+0% $257	+5% $207	+10% $158
Rent	-10% $38	-5% $147	+0% $257	+5% $366	+10% $475
Rate	-1.0pp $345	-0.5pp $301	base $257	+0.5pp $211	+1.0pp $165

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: $43,700
• Closing costs: $5,244
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14475 Strathmore Ln Delray Beach, FL	2.0	2.0	1230	$2,422	$1.97	25d	2	0.09mi
14671 Bonaire Blvd #505 Delray Beach, FL	1.0	2.0	925	$1,600	$1.73	25d	1	0.14mi
6866 Huntington Ln #305 Delray Beach, FL	2.0	2.0	1230	$4,500	$3.66	25d	1	0.18mi
14624 Three Ponds Trl Delray Beach, FL	3.0	2.0	1411	$3,250	$2.30	19d	1	0.21mi
14556 Wiley Range Rd Delray Beach, FL	2.0	2.0	1319	$3,000	$2.27	25d	1	0.24mi
6795 Huntington Ln #406 Delray Beach, FL	2.0	2.0	990	$2,500	$2.53	22d	1	0.24mi
32 Abbey Ln #207 Delray Beach, FL	2.0	2.0	925	$2,500	$2.70	25d	1	0.24mi
31 Abbey Ln #207 Delray Beach, FL	2.0	2.0	925	$1,300	$1.41	25d	1	0.25mi
6557 Country Wood Way Delray Beach, FL	3.0	2.0	1346	$4,700	$3.49	25d	1	0.26mi
6550 Country Wood Way Delray Beach, FL	3.0	2.0	1408	$4,000	$2.84	6d	1	0.27mi
6550 Country Wood Way Delray Beach, FL	3.0	2.0	1408	$4,000	$2.84	25d	1	0.27mi
7076 Huntington Ln #608 Delray Beach, FL	2.0	2.0	1230	$2,600	$2.11	25d	1	0.27mi
23 Abbey Ln #208 Delray Beach, FL	2.0	2.0	925	$1,500	$1.62	4d	1	0.28mi
14534 Highland Center Way Delray Beach, FL	2.0	2.0	1319	$3,400	$2.58	9d	1	0.29mi
21 Abbey Ln #107 Delray Beach, FL	2.0	2.0	925	$1,800	$1.95	16d	1	0.31mi
6396 Country Wood Way Delray Beach, FL	2.0	2.0	1364	$3,000	$2.20	25d	1	0.32mi
6372 Sleepy Willow Way Delray Beach, FL	2.0	2.0	1344	$3,975	$2.96	25d	1	0.33mi
6372 Sleepy Willow Way Delray Beach, FL	2.0	2.0	1344	$3,975	$2.96	16d	1	0.33mi
19 Abbey Ln #206 Delray Beach, FL	2.0	2.0	925	$1,750	$1.89	25d	1	0.34mi
14735 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,350	$2.19	3d	1	0.34mi
20 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,600	$2.81	25d	1	0.35mi
14307 Bedford Dr #302 Delray Beach, FL	2.0	2.0	990	$2,200	$2.22	25d	1	0.35mi
3 Abbey Ln #102 Delray Beach, FL	2.0	2.0	925	$2,500	$2.70	25d	1	0.37mi
7192 Huntington Ln #307 Delray Beach, FL	2.0	2.0	1070	$3,500	$3.27	19d	1	0.37mi
14832 Wildflower Ln Delray Beach, FL	2.0	2.0	1073	$2,500	$2.33	19d	1	0.37mi
14608 Country Side Ln Delray Beach, FL	2.0	2.0	1303	$2,950	$2.26	25d	1	0.38mi
14800 Cumberland Dr Delray Beach, FL	2.0–3.0	2.0	1324	$3,827	$2.89	0d	4	0.39mi
14747 Wildflower Ln Delray Beach, FL	2.0	2.0	1229	$2,475	$2.01	25d	1	0.40mi
14828 Golden Jax Ln Unit 8103 Delray Beach, FL	2.0	2.0	1321	$3,948	$2.99	0d	1	0.41mi
14828 Golden Jax Ln Unit 8-105 Radiance Delray Beach, FL	2.0	2.0	1321	$3,948	$2.99	16d	1	0.41mi
14828 Golden Jax Ln Unit 6-105 Radiance Delray Beach, FL	2.0	2.0	1321	$4,148	$3.14	18d	1	0.41mi
14509 Sloan Ridge Dr Unit 10-104 Luminosa Delray Beach, FL	3.0	2.0	1328	$3,827	$2.88	25d	1	0.41mi
6234 Pointe Regal Cir Delray Beach, FL	2.0	2.0	1217	$3,899	$3.20	25d	1	0.43mi
14 Willowbrook Ln #101 Delray Beach, FL	2.0	2.0	1005	$1,700	$1.69	6d	1	0.45mi
6813 Moonlit Dr Delray Beach, FL	2.0	2.0	1148	$2,150	$1.87	25d	1	0.45mi
10 Willowbrook Ln #105 Delray Beach, FL	2.0	2.0	1005	$2,100	$2.09	12d	1	0.47mi
7286 Huntington Ln #105 Delray Beach, FL	2.0	2.0	1070	$3,350	$3.13	25d	1	0.47mi
14747 Cumberland Dr #301 Delray Beach, FL	2.0	2.0	1044	$1,900	$1.82	25d	1	0.49mi
6096 Kings Gate Cir Delray Beach, FL	2.0	2.0	1311	$2,500	$1.91	25d	1	0.53mi
14723 Cumberland Dr Unit 404 B Delray Beach, FL	1.0	2.0	912	$1,850	$2.03	25d	1	0.54mi

HOA detail condo

• Monthly dues: $720 · $8,640/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-21
   days on market $174,800 Active 149 DOM
2. 2026-06-18
   days on market $174,800 Active 146 DOM
3. 2026-06-17
   days on market $174,800 Active 145 DOM
4. 2026-06-16
   days on market $174,800 Active 144 DOM
5. 2026-06-15
   days on market $174,800 Active 143 DOM
6. 2026-06-13
   days on market $174,800 Active 141 DOM
7. 2026-06-09
   days on market $174,800 Active 137 DOM
8. 2026-06-07
   days on market $174,800 Active 135 DOM
9. 2026-06-04
   days on market $174,800 Active 132 DOM
10. 2026-06-03
    days on market $174,800 Active 131 DOM
11. 2026-06-01
    days on market $174,800 Active 129 DOM
12. 2026-05-31
    days on market $174,800 Active 128 DOM
13. 2026-05-11
    price $174,800
14. 2026-01-23
    listed $189,900 Active
15. 2023-05-25
    soldstatus $185,000
16. 2023-05-19
    soldstatus $185,000 Closed 592-char remark

    Show marketing remark (592 chars)

    Welcome to Florida living at its best! this 2 bedroom, 2 bathroom condo is centrally located in the heart of Delray Beach, just a few miles to the beautiful beach, shopping, fine dining, street festivals, art galleries and enterntainment. Enjoy the beautiful view from your condo overlooking the lake. The pool is just a short walk to the clubhouse offering a fitness center, billiards and auditorium for events & activities offered. Community has a lovely path that is tree lined and winds around the lake. Don't miss this wonderful opportunity. Call today for your private showing.

17. 2023-04-13
    historical Active Under Contract 592-char remark

    Show marketing remark (592 chars)

    Welcome to Florida living at its best! this 2 bedroom, 2 bathroom condo is centrally located in the heart of Delray Beach, just a few miles to the beautiful beach, shopping, fine dining, street festivals, art galleries and enterntainment. Enjoy the beautiful view from your condo overlooking the lake. The pool is just a short walk to the clubhouse offering a fitness center, billiards and auditorium for events & activities offered. Community has a lovely path that is tree lined and winds around the lake. Don't miss this wonderful opportunity. Call today for your private showing.

18. 2023-03-06
    listed $190,900 Active 592-char remark

    Show marketing remark (592 chars)

    Welcome to Florida living at its best! this 2 bedroom, 2 bathroom condo is centrally located in the heart of Delray Beach, just a few miles to the beautiful beach, shopping, fine dining, street festivals, art galleries and enterntainment. Enjoy the beautiful view from your condo overlooking the lake. The pool is just a short walk to the clubhouse offering a fitness center, billiards and auditorium for events & activities offered. Community has a lovely path that is tree lined and winds around the lake. Don't miss this wonderful opportunity. Call today for your private showing.

19. 2010-05-26
    soldstatus $37,000 360-char remark

    Show marketing remark (360 chars)

    This beautiful 2 bedroom and 2 Full Bath condo is located in a 55+ community. Enjoy your evenings from your screened in patio which overlooks the Lake or relax at the community pool. Located close to the shopping & restaurants of Downtown Delray Beach The Hoa fees includes: Cable, water, roof maintenance, insurance on the building and the community pool

20. 2010-04-16
    historical 360-char remark

    Show marketing remark (360 chars)

    This beautiful 2 bedroom and 2 Full Bath condo is located in a 55+ community. Enjoy your evenings from your screened in patio which overlooks the Lake or relax at the community pool. Located close to the shopping & restaurants of Downtown Delray Beach The Hoa fees includes: Cable, water, roof maintenance, insurance on the building and the community pool

21. 2010-02-23
    listed $38,800 360-char remark

    Show marketing remark (360 chars)

    This beautiful 2 bedroom and 2 Full Bath condo is located in a 55+ community. Enjoy your evenings from your screened in patio which overlooks the Lake or relax at the community pool. Located close to the shopping & restaurants of Downtown Delray Beach The Hoa fees includes: Cable, water, roof maintenance, insurance on the building and the community pool

22. 2008-06-07
    historical
23. 2007-06-08
    listed $147,900
24. 2007-01-07
    historical
25. 2006-08-01
    listed $152,500
26. 2005-01-04
    soldstatus $115,000
27. 2004-12-16
    soldstatus $115,000
28. 2004-12-02
    historical
29. 2004-12-01
    listed $119,900

ⓘ 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: $2,656 · $221/mo
• Projected year-2 tax: $2,656 · $221/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 2 d/yr ≥107°F today · 6 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: $33,228
• − Mortgage interest: −$9,792
• − Property taxes: −$2,656
• − Insurance: −$874
• − Repairs & maintenance: −$2,658
• − Management: −$2,658
• − HOA: −$8,640
• − Depreciation: −$5,085
• Taxable income: $865
• Est. tax owed @ 24.0%: −$208
• After-tax cash flow: $2,873/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): 28,431
• Household income: $80,187
• Rent vs Own: 11.4% rent · 88.6% own
• Severe rent burden: 494.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 13% Two or more races 9% Black 4%
• Hispanic origin (detail): Puerto Rican 3% Dominican 1%
• Common ancestry: Romanian 9% Scotch-Irish 9% Italian 2%
• Foreign-born: 20% · Canada, Jamaica, Guatemala
• Languages at home: 80% English-only · Spanish 12% Other Indo-European 2% French/Haitian/Cajun 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: ▲ 0.69%
• Current HPI: 242.5138
• Rent YoY: ▲ 0.51%
• 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

+45.8% since first listed

17 events — show timeline

• 2026-05-11 Price Changed $174,800 Beaches MLS
• 2026-01-23 Listed $189,900 Beaches MLS
• 2023-05-25 Sold (Public Records) $185,000 Public Records
• 2023-05-19 Sold (MLS) $185,000 Beaches MLS
• 2023-04-13 Contingent — Beaches MLS
• 2023-03-06 Listed $190,900 Beaches MLS
• 2010-05-26 Sold (MLS) $37,000 Beaches MLS
• 2010-04-16 Listing Removed — Beaches MLS
• 2010-02-23 Listed $38,800 Beaches MLS
• 2008-06-07 Listing Removed — Beaches MLS
• 2007-06-08 Listed $147,900 Beaches MLS
• 2007-01-07 Listing Removed — Beaches MLS
• 2006-08-01 Listed $152,500 Beaches MLS
• 2005-01-04 Sold (Public Records) $115,000 Public Records
• 2004-12-16 Sold (MLS) $115,000 Beaches MLS
• 2004-12-02 Listing Removed — Beaches MLS
• 2004-12-01 Listed $119,900 Beaches MLS

Property tax history

+14.9%/yr

Latest (2025): $2,656 · -2.7% YoY. Source: county tax records.