506 E Capri Rd #506 · Delray Beach, FL 33484

$85,000

1 bd · 1.5 ba · 760 sqft · Condo · 7 Days on market

Built 1978 Good condition $693/mo HOA · 37% of rent

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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 +25.8/30.0
• 1% rule +10.0/10.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +3.6/5.0
• Appreciation +0.0/10.0

Listing remarks

Updated 1-Bed, 1.5-Bath Condo in Kings Point. Second-floor condo located in the highly sought-after Kings Point community. This move-in-ready residence features an updated kitchen with white cabinetry, granite countertops, a stylish tile backsplash, and SS appliances. Tile flooring extends throughout the home, and both bathrooms have been tastefully renovated. Enjoy relaxing on the screened patio, and full-size washer and dryer in the unit. Kings Point offers an exceptional lifestyle with resort-style amenities, including a multi-million-dollar clubhouse, golf courses, tennis courts, indoor and outdoor pools, a theater, fitness center, bistro, courtesy transportation, and countless social a

Key facts

• Screened patio
• Golf courses
• Updated kitchen

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• SCREENED PATIO
• FULL-SIZE WASHER AND DRYER
• MULTI-MILLION-DOLLAR CLUBHOUSE
• GOLF COURSES

Property features AI

Finance

• Other: Association fee payment is monthly
• Financial info: Not a land lease community; Pets not allowed in community; Number of units in community: 7200
• HOA & community: Has association (Wilson Landscaping & Management Corp.); Monthly HOA fee; HOA covers cable TV, grounds maintenance, water, common areas, reserve funds, and pool service; Community amenities include fitness center, parking, pool (heated), sauna, tennis courts, community room, courtesy bus, putting green, sidewalks, street lights, gated entry, and maintenance

Exterior

• Parking: Assigned open parking (1 space); Total parking spaces: 1
• Security: Gated community with guard; Community security and maintenance
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Water and sewer available
• Home design: Condominium; One- and two-level layout; Entry level is 2 (entry level living area); Faces north
• Construction: Concrete construction; Mansard roof; Concrete perimeter foundation; Built/resale condition (existing property)
• Exterior features: Covered patio; Patio; Private road frontage; Asphalt road surface; Not waterfront

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Ceramic tile
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central electric heat; Electric cooling with ceiling fan(s)
• Interior features: Electric water heater; Unfurnished; Accessible elevator installed; Accessible hallways; Accessible stairway; Smoke detector(s)
• Laundry & utility: Indoor laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $85k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Cap rate 9.2% 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); 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 50% FRL track the district average.
• 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 24d 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 $588 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 $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 37% 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 $85,000

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.21% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.41%
• DSCR: 1.46
• GRM: 3.8

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: 2.4%
• Equity multiple: 1.10×
• Total profit: $2,283
• Equity at exit: $12,674

10-year hold

• IRR: 14.4%
• Equity multiple: 2.31×
• Total profit: $31,102
• Equity at exit: $7,349

Cash invested: $23,800 (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: 3.8×

Monthly cashflow live

• Estimated rent: $1,882 high
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$693
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $206

Break-even live

Break-even rent $1,621

Max offer price $85,000

Occupancy floor 84%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
509 Capri Dr Unit 509 Delray Beach, FL	2.0	2.0	910	$2,500	$2.75	2d	1	0.03mi
507 Capri Dr Delray Beach, FL	2.0	2.0	910	$2,200	$2.42	24d	1	0.03mi
29 Burgundy a Delray Beach, FL	2.0	2.0	902	$1,800	$2.00	24d	1	0.04mi
39 Burgundy a Delray Beach, FL	2.0	2.0	902	$1,400	$1.55	24d	1	0.07mi
522 Capri K Unit K Delray Beach, FL	1.0	1.5	730	$1,350	$1.85	24d	1	0.08mi
560 Capri Ln Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	24d	1	0.12mi
556 Capri L Unit L Delray Beach, FL	2.0	2.0	910	$1,575	$1.73	24d	1	0.14mi
481 Burgundy K Delray Beach, FL	2.0	2.0	902	$1,700	$1.88	24d	1	0.14mi
207 Capri E #207 Delray Beach, FL	2.0	2.0	910	$1,700	$1.87	7d	1	0.20mi
115 Capri B Unit 115 Delray Beach, FL	2.0	2.0	1044	$2,000	$1.92	24d	1	0.24mi
66 Capri B Unit B Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	14d	1	0.27mi
468 Capri J Delray Beach, FL	2.0	2.0	910	$1,400	$1.54	24d	1	0.27mi
66 Capri B #66 Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	18d	1	0.27mi
98 Capri C Delray Beach, FL	1.0	1.5	795	$1,695	$2.13	24d	1	0.28mi
960 Flanders T Delray Beach, FL	1.0	1.5	760	$1,500	$1.97	24d	1	0.30mi
949 Normandy Trl Unit 949 Delray Beach, FL	2.0	2.0	907	$3,500	$3.86	24d	1	0.33mi
998 Normandy Trl Unit 998 Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	24d	1	0.33mi
998 Normandy Trl Unit 998 Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	15d	1	0.33mi
812 Burgundy Q Delray Beach, FL	2.0	2.0	907	$1,799	$1.98	24d	1	0.34mi
930 Normandy T Delray Beach, FL	1.0	1.5	760	$2,800	$3.68	7d	1	0.34mi
811 Flanders Q Delray Beach, FL	2.0	2.0	920	$1,700	$1.85	3d	1	0.36mi
811 Flanders Q Delray Beach, FL	2.0	2.0	920	$1,700	$1.85	14d	1	0.36mi
548 Burgundy L Delray Beach, FL	2.0	2.0	902	$1,900	$2.11	7d	1	0.37mi
519 Burgundy K Delray Beach, FL	1.0	1.5	760	$2,400	$3.16	24d	1	0.37mi
313 Burgundy G Delray Beach, FL	2.0	2.0	907	$2,050	$2.26	24d	1	0.37mi
767 Burgundy P Delray Beach, FL	2.0	2.0	902	$1,550	$1.72	24d	1	0.37mi
416 Burgundy N Unit I Delray Beach, FL	1.0	1.5	760	$2,100	$2.76	24d	1	0.38mi
542 Normandy Ln Unit 542 Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	24d	1	0.39mi
5220 Las Verdes Cir #101 Delray Beach, FL	2.0	2.0	876	$1,950	$2.23	5d	1	0.40mi
5220 Las Verdes Cir Delray Beach, FL	2.0	2.0	963	$1,825	$1.90	22d	2	0.40mi
974 Normandy Trl #974 Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	24d	1	0.41mi
595 Normandy M Delray Beach, FL	2.0	2.0	907	$1,750	$1.93	24d	1	0.42mi
5310 Las Verdes Cir #106 Delray Beach, FL	2.0	2.0	1050	$1,900	$1.81	24d	1	0.43mi
452 Normandy J Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	24d	1	0.43mi
452 Normandy J Unit J Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	24d	1	0.43mi
794 Normandy Q Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	17d	1	0.45mi
5190 Las Verdes Cir #315 Delray Beach, FL	2.0	2.0	930	$2,000	$2.15	7d	1	0.46mi
16344 Country Lake Cir Delray Beach, FL	2.0	2.0	943	$2,250	$2.39	5d	1	0.47mi
16344 Country Lake Cir Delray Beach, FL	2.0	2.0	943	$2,150	$2.28	5d	1	0.47mi
120 Normandy C Delray Beach, FL	1.0	1.5	760	$1,495	$1.97	7d	1	0.49mi

HOA detail condo

• Monthly dues: $693 · $8,316/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $85,000 Active 7 DOM
2. 2026-06-17
   days on market $85,000 Active 6 DOM
3. 2026-06-16
   days on market $85,000 Active 5 DOM
4. 2026-06-15
   days on market $85,000 Active 4 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $85,000 Active 2 DOM

ⓘ 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: $22,585
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,807
• − Management: −$1,807
• − HOA: −$8,316
• − Depreciation: −$2,473
• Taxable income: $1,721
• Est. tax owed @ 24.0%: −$413
• After-tax cash flow: $2,064/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 · 13 photos

Good 75/100 Cosmetic rehab

This move-in-ready condo in Kings Point is in good condition with updated kitchen and bathrooms. It offers a good ROI with cosmetic updates and well-maintained landscaping.

Value-add opportunities

• Both Paint exterior siding — Fresh paint can enhance curb appeal and property value.
• Both Landscaping maintenance — Well-maintained landscaping can improve curb appeal and attract potential buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Both Landscaping maintenance — Well-maintained landscaping can improve curb appeal and attract potential buyers/tenants. ↑

ⓘ 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

• 2026-06-11 Listed $85,000 Beaches MLS