2840 Avenue S · Riviera Beach, FL 33404

$1,150,000

None bd · None ba · 3,108 sqft · MultiFamily · 75 Days on market

Built 1965 8,886 sqft lot

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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 +19.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Excellent, Turn-Key Investment opportunity. TRUE 10% CAP RATE. This 4-plex has been completely renovated this year at a cost of over $120,000. Two - 2-bed/1 bath Units; Two 3 bed/1 bath units. All units have laminate flooring throughout, knock down finish on walls and ceiling, freshly painted, new kitchen cabinets, new appliances, new bathroom tile and fixtures, new central AC units, new water heaters. All code compliance work done! Unit 2 Leased at $900 per month, Section 8, Unit 3 lease pending at $900 per month. Units 1 & 4 listed for $1,200 per month. Owner is being very selective with tenants to assure a turn-key investment to your buyer. See attached pro forma for projected returns and detailed expenses.

Key facts

• 8,886 sq ft lot
• Built 1965
• Listed 74 days

Property features AI

Finance

• Financial info: Four-unit property; Tenants responsible for cable TV, electricity, water and repairs; No pets allowed

Exterior

• Utilities: Public water; Public sewer; Electricity available; Four separate electric meters; Water available; Four separate water meters
• Home design: Quadruplex; One story; Updated/remodeled condition; City street frontage, west of US-1
• Construction: Block/Concrete/CBS construction with stucco; Flat roof; Slab foundation; Building area approximately 3,108 total
• Exterior features: Corner lot; Chain link and front-yard fencing; Public paved asphalt road frontage; Not waterfront

Interior

• Flooring: Laminate
• Heating & cooling: Individual central heating; Individual central cooling
• Interior features: Laminate flooring

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 2×3bd/1ba units multifamily listed at $1.15M.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $324/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $1.15M).
• Recommended offer: $1.08M (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#581 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: employment D, crime F, 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: John F. Kennedy Middle School (math 28% / reading 29%, grade F, #482 of 571 statewide, top 85%, 826 students, 78% FRL); Palm Beach Gardens High School (math 19% / reading 40%, grade F, #447 of 667 statewide, top 68%, 2,570 students, 61% FRL) — zoned schools average 70% FRL vs 52% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 29% at this address vs 50% district-wide (-20 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.7%/yr); 506 active listings in the ZIP; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $11,702/mo this rent would consume 216% of the median local household income ($65k/yr) (locally 1838% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $34k 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 75 days — a 6% lower offer ($1.08M) is reasonable based on typical stale-listing flexibility.
• 4 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 $295k; list at $1.15M implies a 290% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,081,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F 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: 1.02% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.83%
• DSCR: 1.22
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.57×
• Total profit: $-137,848
• Equity at exit: $171,469

10-year hold

• IRR: -8.4%
• Equity multiple: 0.55×
• Total profit: $-145,466
• Equity at exit: $99,431

Cash invested: $322,000 (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 33404

• Home prices YoY: -31.1%
• Rents YoY: -0.7%
• Active inventory: 506
• Price-to-rent: 35.2×

Monthly cashflow live

• Estimated rent: $11,702 medium
• Mortgage (P&I): −$6,031
• Tax est. 1.5%: −$1,438 /mo · $17,250/yr
• Insurance: −$479
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,457
• Net cashflow: $1,297

Break-even live

Break-even rent $10,060

Max offer price $1,150,000

Occupancy floor 84%

Sensitivity live

Price	-10% $2,092	-5% $1,695	+0% $1,297	+5% $900	+10% $502
Rent	-10% $373	-5% $835	+0% $1,297	+5% $1,759	+10% $2,222
Rate	-1.0pp $1,876	-0.5pp $1,590	base $1,297	+0.5pp $999	+1.0pp $696

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,438
▸ 2× units	3	1	$6,264
Total (4 units)			$11,702

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: $287,500
• Closing costs: $34,500
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $1,150,000 Active 75 DOM
2. 2026-06-18
   days on market $1,150,000 Active 72 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   days on market $1,150,000 Active 71 DOM
5. 2026-06-16
   days on market $1,150,000 Active 70 DOM
6. 2026-06-15
   days on market $1,150,000 Active 69 DOM
7. 2026-06-13
   days on market $1,150,000 Active 67 DOM
8. 2026-06-09
   days on market $1,150,000 Active 63 DOM
9. 2026-06-08
   days on market $1,150,000 Active 62 DOM
10. 2026-06-07
    pricedays on market $1,150,000 Active 61 DOM
11. 2026-06-04
    days on market $1,200,000 Active 58 DOM
12. 2026-06-03
    days on market $1,200,000 Active 57 DOM
13. 2026-06-02
    days on market $1,200,000 Active 56 DOM
14. 2026-06-01
    days on market $1,200,000 Active 55 DOM
15. 2026-05-31
    days on market $1,200,000 Active 54 DOM
16. 2026-04-07
    listed $1,200,000 Active
17. 2016-11-23
    soldstatus $295,000 Closed 726-char remark

    Show marketing remark (726 chars)

    Excellent, Turn-Key Investment opportunity. TRUE 10% CAP RATE. This 4-plex has been completely renovated this year at a cost of over $120,000. Two - 2-bed/1 bath Units; Two 3 bed/1 bath units. All units have laminate flooring throughout, knock down finish on walls and ceiling, freshly painted, new kitchen cabinets, new appliances, new bathroom tile and fixtures, new central AC units, new water heaters. All code compliance work done! Unit 2 Leased at $900 per month, Section 8, Unit 3 lease pending at $900 per month. Units 1 & 4 listed for $1,200 per month. Owner is being very selective with tenants to assure a turn-key investment to your buyer. See attached pro forma for projected returns and detailed expenses.

18. 2016-11-09
    status Pending 726-char remark

    Show marketing remark (726 chars)

    Excellent, Turn-Key Investment opportunity. TRUE 10% CAP RATE. This 4-plex has been completely renovated this year at a cost of over $120,000. Two - 2-bed/1 bath Units; Two 3 bed/1 bath units. All units have laminate flooring throughout, knock down finish on walls and ceiling, freshly painted, new kitchen cabinets, new appliances, new bathroom tile and fixtures, new central AC units, new water heaters. All code compliance work done! Unit 2 Leased at $900 per month, Section 8, Unit 3 lease pending at $900 per month. Units 1 & 4 listed for $1,200 per month. Owner is being very selective with tenants to assure a turn-key investment to your buyer. See attached pro forma for projected returns and detailed expenses.

19. 2016-10-11
    price $319,500 726-char remark

    Show marketing remark (726 chars)

    Excellent, Turn-Key Investment opportunity. TRUE 10% CAP RATE. This 4-plex has been completely renovated this year at a cost of over $120,000. Two - 2-bed/1 bath Units; Two 3 bed/1 bath units. All units have laminate flooring throughout, knock down finish on walls and ceiling, freshly painted, new kitchen cabinets, new appliances, new bathroom tile and fixtures, new central AC units, new water heaters. All code compliance work done! Unit 2 Leased at $900 per month, Section 8, Unit 3 lease pending at $900 per month. Units 1 & 4 listed for $1,200 per month. Owner is being very selective with tenants to assure a turn-key investment to your buyer. See attached pro forma for projected returns and detailed expenses.

20. 2016-08-24
    status Active 726-char remark

    Show marketing remark (726 chars)

    Excellent, Turn-Key Investment opportunity. TRUE 10% CAP RATE. This 4-plex has been completely renovated this year at a cost of over $120,000. Two - 2-bed/1 bath Units; Two 3 bed/1 bath units. All units have laminate flooring throughout, knock down finish on walls and ceiling, freshly painted, new kitchen cabinets, new appliances, new bathroom tile and fixtures, new central AC units, new water heaters. All code compliance work done! Unit 2 Leased at $900 per month, Section 8, Unit 3 lease pending at $900 per month. Units 1 & 4 listed for $1,200 per month. Owner is being very selective with tenants to assure a turn-key investment to your buyer. See attached pro forma for projected returns and detailed expenses.

21. 2016-07-11
    status Pending 726-char remark

    Show marketing remark (726 chars)

    Excellent, Turn-Key Investment opportunity. TRUE 10% CAP RATE. This 4-plex has been completely renovated this year at a cost of over $120,000. Two - 2-bed/1 bath Units; Two 3 bed/1 bath units. All units have laminate flooring throughout, knock down finish on walls and ceiling, freshly painted, new kitchen cabinets, new appliances, new bathroom tile and fixtures, new central AC units, new water heaters. All code compliance work done! Unit 2 Leased at $900 per month, Section 8, Unit 3 lease pending at $900 per month. Units 1 & 4 listed for $1,200 per month. Owner is being very selective with tenants to assure a turn-key investment to your buyer. See attached pro forma for projected returns and detailed expenses.

22. 2016-06-01
    listed $330,000 Active 726-char remark

    Show marketing remark (726 chars)

    Excellent, Turn-Key Investment opportunity. TRUE 10% CAP RATE. This 4-plex has been completely renovated this year at a cost of over $120,000. Two - 2-bed/1 bath Units; Two 3 bed/1 bath units. All units have laminate flooring throughout, knock down finish on walls and ceiling, freshly painted, new kitchen cabinets, new appliances, new bathroom tile and fixtures, new central AC units, new water heaters. All code compliance work done! Unit 2 Leased at $900 per month, Section 8, Unit 3 lease pending at $900 per month. Units 1 & 4 listed for $1,200 per month. Owner is being very selective with tenants to assure a turn-key investment to your buyer. See attached pro forma for projected returns and detailed expenses.

23. 2013-09-22
    historical 193-char remark

    Show marketing remark (193 chars)

    THIS OFFERING CONSISTS OF 4 UNITS FULLY RENTED CAP RATE 13%. ALSO AVAILABLE IS ADDITIONAL 32 UNITS WHICH IS BEING OFFERED IN BLOCKS OF 16 UNITS. PLEASE CALL LISTING AGENT TO INSPECT PROPERTIES.

24. 2001-08-14
    listed $139,600 193-char remark

    Show marketing remark (193 chars)

    THIS OFFERING CONSISTS OF 4 UNITS FULLY RENTED CAP RATE 13%. ALSO AVAILABLE IS ADDITIONAL 32 UNITS WHICH IS BEING OFFERED IN BLOCKS OF 16 UNITS. PLEASE CALL LISTING AGENT TO INSPECT PROPERTIES.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 24 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $140,424
• − Mortgage interest: −$64,418
• − Property taxes: −$17,250
• − Insurance: −$5,750
• − Repairs & maintenance: −$11,234
• − Management: −$11,234
• − Depreciation: −$33,455
• Taxable loss: −$2,916
• Est. tax savings @ 24.0%: +$700
• After-tax cash flow: $16,266/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 — Riviera Beach

• Score: 67/100
• State rank: #581
• US rank: #11060

Category grades

Amenities F Commute F Cost of living A- Crime F Employment D Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Riviera Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 30,912
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 30,912
• Household income: $65,063
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 1838.0

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: Majority Black (64%)
• Race & ethnicity: Black 64% White 22% Hispanic / Latino 9% Two or more races 8%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Hispanic 8% Romanian 1% Italian 1%
• Foreign-born: 21% · Canada, Jamaica
• Languages at home: 82% English-only · Spanish 8% French/Haitian/Cajun 7% Other Indo-European 1%

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: ▼ -153.74%
• Current HPI: 341.1761
• Rent YoY: ▼ -0.72%
• 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

+759.6% since first listed

9 events — show timeline

• 2026-04-07 Listed $1,200,000 Beaches MLS
• 2016-11-23 Sold (MLS) $295,000 Beaches MLS
• 2016-11-09 Pending — Beaches MLS
• 2016-10-11 Price Changed $319,500 Beaches MLS
• 2016-08-24 Relisted — Beaches MLS
• 2016-07-11 Pending — Beaches MLS
• 2016-06-01 Listed $330,000 Beaches MLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2001-08-14 Listed $139,600 Beaches MLS