2681 Riviera Blvd · Westgate, FL 33409

$135,000

4 bd · 3.0 ba · 1,210 sqft · Manufactured · 29 Days on market

Built 1983 Good condition $1070/mo HOA · 30% 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 +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
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Centrally located with easy access to main roads, schools and shopping. Low monthly payment. Carport with space for 3 to 4 cars.

Key facts

• 4 parking spots
• Community pool
• Built 1983

Property features AI

Finance

• Financial info: Land lease in place (monthly $1,070) — lease expires 2026-03-31; Pets allowed with breed restrictions
• HOA & community: Community amenities include fitness center, game room, pool, spa/hot tub, and street lights; Association monthly fee: $1,070 (includes grounds maintenance, trash, recreation facility, and pool service)

Exterior

• Parking: Attached carport; Carport with 3 covered spaces (4 total parking spaces)
• Utilities: Public water; Public sewer; Electricity available; Water available
• Home design: Manufactured home; Double wide; One story; Model: Glen; Faces south
• Construction: Aluminum siding; Metal siding; Metal frame construction; Mobile width 48
• Exterior features: Corner lot; Zero lot line; Shingle roof; Aluminum skirt

Interior

• Kitchen: Microwave; Refrigerator; Electric cooktop
• Bedrooms: One bedroom on the main level
• Flooring: Laminate flooring; Wood flooring
• Bathrooms: Three full bathrooms (one on the main level)
• Heating & cooling: Central electric heating; Electric cooling
• Interior features: Partially furnished; Electric water heater; Microwave; Refrigerator; Electric cooktop
• Laundry & utility: Laundry room; Outside laundry access

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath manufactured listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $818 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#328 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment 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: Belvedere Elementary School (math 33% / reading 37%, grade F, #1,697 of 2,144 statewide, top 80%, 477 students, 79% FRL); Jeaga Middle School (math 18% / reading 30%, grade F, #532 of 571 statewide, top 94%, 941 students, 78% FRL); Palm Beach Lakes High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 2,688 students, 70% FRL) — zoned schools average 76% FRL vs 52% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 50% district-wide (-23 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 (-0.1%/yr); 194 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).
• At $3,571/mo this rent would consume 64% of the median local household income ($67k/yr) (locally 1333% 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 $933 of loan paydown is wiped out by about $4k 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 + 0.0% rent growth), your $38k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,975 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.65% ✓
• Cap rate: 13.56%
• Cash-on-cash: 25.97%
• DSCR: 2.16
• GRM: 3.2

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: 14.4%
• Equity multiple: 1.54×
• Total profit: $20,473
• Equity at exit: $20,129

10-year hold

• IRR: 19.2%
• Equity multiple: 2.25×
• Total profit: $47,364
• Equity at exit: $11,672

Cash invested: $37,800 (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 33409

• Home prices YoY: -25.6%
• Rents YoY: -0.1%
• Active inventory: 194
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $3,571 high
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$1,070
• Vacancy / Maint / Mgmt: −$750
• Net cashflow: $818

Break-even live

Break-even rent $2,535

Max offer price $135,000

Occupancy floor 72%

Sensitivity live

Price	-10% $911	-5% $865	+0% $818	+5% $771	+10% $725
Rent	-10% $536	-5% $677	+0% $818	+5% $959	+10% $1,100
Rate	-1.0pp $886	-0.5pp $852	base $818	+0.5pp $783	+1.0pp $747

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2018 Whitney Rd West Palm Beach, FL	3.0	2.0	1169	$3,100	$2.65	0d	1	0.20mi
2016 Kenwood Rd West Palm Beach, FL	4.0	2.0	1172	$3,900	$3.33	21d	1	0.20mi
2117 Longwood Rd West Palm Beach, FL	4.0	2.0	1112	$5,000	$4.50	25d	1	0.20mi
2615 Hiawatha Ave West Palm Beach, FL	3.0	2.0	1276	$2,950	$2.31	4d	1	0.86mi
2665 Hiawatha Ave West Palm Beach, FL	3.0	2.0	1276	$3,005	$2.36	25d	1	0.87mi
2671 Hiawatha Ave West Palm Beach, FL	3.0	2.0	1276	$3,005	$2.36	25d	1	0.88mi
2677 Hiawatha Ave West Palm Beach, FL	3.0	2.0	1276	$3,005	$2.36	25d	1	0.88mi
2683 Hiawatha Ave West Palm Beach, FL	3.0	2.0	1276	$3,005	$2.36	25d	1	0.88mi
2689 Hiawatha Ave West Palm Beach, FL	3.0	2.0	1276	$2,950	$2.31	4d	1	0.89mi
904 Ortega Rd West Palm Beach, FL	3.0	1.0	910	$3,500	$3.85	6d	1	1.29mi
833 Ardmore Rd West Palm Beach, FL	3.0	2.5	1132	$4,500	$3.98	18d	1	1.32mi
833 Ardmore Rd West Palm Beach, FL	3.0	2.5	1132	$4,500	$3.98	16d	1	1.32mi
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$3,250	$3.04	21d	19	1.46mi

HOA detail

• Monthly dues: $1,070 · $12,840/yr

Listing history 2 events

1. 2026-04-29
   status Pending
2. 2026-03-29
   listed $135,000 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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 23 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,851
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$3,428
• − Management: −$3,428
• − HOA: −$12,840
• − Depreciation: −$3,927
• Taxable income: $8,965
• Est. tax owed @ 24.0%: −$2,152
• After-tax cash flow: $7,665/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 manufactured home is in good condition with cosmetic updates needed. It offers a good investment opportunity with potential for both resale and rental value improvements.

Value-add opportunities

• Both Painting exterior siding and trim — Enhances curb appeal and value
• Both Landscaping and trimming — Improves curb appeal and rental value
• Resale Upgrading kitchen appliances — Modernizes kitchen and attracts buyers
• Resale Upgrading bathrooms with new fixtures — Enhances bathroom appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding and trim — Enhances curb appeal and value ↑
• Both Landscaping and trimming — Improves curb appeal and rental value ↑
• Resale Upgrading kitchen appliances — Modernizes kitchen and attracts buyers ↑
• Resale Upgrading bathrooms with new fixtures — Enhances bathroom appeal and value ↑

ⓘ 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 — Westgate

• Score: 72/100
• State rank: #328
• US rank: #5745

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment F 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
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,489
• Household income: $67,073
• Rent vs Own: 55.3% rent · 44.7% own
• Severe rent burden: 1333.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 36% Black 31% White 27% Two or more races 21% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 8% Dominican 1%
• Common ancestry: Hispanic 8% Romanian 1% Lithuanian 1%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 55% English-only · Spanish 30% French/Haitian/Cajun 10% Other Indo-European 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: ▼ -128.54%
• Current HPI: 374.2506
• Rent YoY: ▼ -0.15%
• 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

2 events — show timeline

• 2026-04-29 Pending — Beaches MLS
• 2026-03-29 Listed $135,000 Beaches MLS