805 S H St · Lake Worth Beach, FL 33460

$3,800,000

1024 bd · 512.0 ba · 13,068 sqft · MultiFamily · 72 Days on market

Built 1970

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• 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

THIS OFFERING IS PART OF A 32-UniT Apartment Portfolio comprising of 927 S Pine St, 714 South F, and 805-809-817-821 South H RARE 16-UNIT MULTIFAMILY OPPORTUNITY – FOUR SOLID CBS QUADPLEXES IN A TENANT-MAGNET LOCATION Exceptional opportunity to acquire four concrete block quadplexes located at 805, 809, 817, and 821 South H Street in Lake Worth. This investment consists of 16 large 2-bedroom / 1-bath apartments, each offering over 815 square feet of living space, a highly desirable layout that consistently attracts long-term tenants. Ownership has already addressed several major expense items, dramatically reducing near-term capital risk: Brand new roofs New central A/C sy

Key facts

• Brand new roofs
• 20 parking spots
• Built 1970

Tags

• FOUR SOLID CBS QUADPLEXES
• BRAND NEW ROOFS
• NEW CENTRAL A C SYSTEMS
• INDIVIDUALLY METERED UTILITIES
• MAJOR TRANSPORTATION CORRIDORS

Property features AI

Finance

• Other: Zoning: TOD-E (c
• Financial info: Rent includes trash collection; Example unit type: 16 unfurnished units, each about 815 area with typical rent reported at $1,900 (unit is leased)

Exterior

• Parking: Approximately 20 parking spaces; Open parking
• Utilities: Cable available; Public sewer
• Home design: Single-story building; Effective year built
• Construction: Block construction; Built-up, flat, and tar/gravel roofing
• Exterior features: Less than quarter acre lot; Open parking

Interior

• Bedrooms: Units with 2 bedrooms (16 units of this type)
• Flooring: Concrete; Ceramic tile; Laminate
• Bathrooms: Units with 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Concrete, ceramic tile, and laminate flooring

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $3.80M.

Deal economics

• At list price, monthly cash flow is $-18k ($-218k/yr) — negative. Per door: $-5k/mo.
• To cash-flow at today's rent, offer at most $1.18M (69.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.03M (72.9% below list).
• Recommended offer: $1.03M (72.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• 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 (+3.5%/yr); 249 active listings in the ZIP; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $10,288/mo this rent would consume 199% of the median local household income ($62k/yr) (locally 2429% 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 $26k of loan paydown is wiped out by about $114k 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 72 days — a 6% lower offer ($3.57M) 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 $1,028,800 (72.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 73% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.27% ✗
• Cap rate: 0.57%
• Cash-on-cash: -20.45%
• DSCR: 0.09
• GRM: 30.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.53% rent growth · sell at horizon

5-year hold

• IRR: -58.6%
• Equity multiple: -0.66×
• Total profit: $-1,765,020
• Equity at exit: $566,592

10-year hold

• IRR: —
• Equity multiple: -1.82×
• Total profit: $-3,000,596
• Equity at exit: $328,555

Cash invested: $1,064,000 (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 33460

• Rents YoY: 3.5%
• Active inventory: 249
• Price-to-rent: 123.1×

Monthly cashflow live

• Estimated rent: $10,288 medium
• Mortgage (P&I): −$19,928
• Tax est. 1.5%: −$4,750 /mo · $57,000/yr
• Insurance: −$1,583
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,160
• Net cashflow: $-18,133

Break-even live

Break-even rent $33,242

Max offer price $1,176,065

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$10,288
Total (4 units)			$10,288

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: $950,000
• Closing costs: $114,000
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-20
   status Pending
2. 2026-03-09
   listed $3,800,000 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 10/10 Extreme 7 d/yr ≥105°F today · 26 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $123,456
• − Mortgage interest: −$212,859
• − Property taxes: −$57,000
• − Insurance: −$19,000
• − Repairs & maintenance: −$9,876
• − Management: −$9,876
• − Depreciation: −$110,545
• Taxable loss: −$295,701
• Est. tax savings @ 24.0%: +$70,968
• After-tax cash flow: $-146,633/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 — Lake Worth Beach

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Lake Worth Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 129,577
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 37,795
• Household income: $62,090
• Rent vs Own: 55.6% rent · 44.4% own
• Severe rent burden: 2429.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Hispanic / Latino 49% White 30% Two or more races 21% Black 17%
• Hispanic origin (detail): Mexican 5% Puerto Rican 5% Cuban 5% Dominican 2%
• Common ancestry: Hispanic 8% Lithuanian 2% Slovak 1%
• Foreign-born: 40% · Canada, Jamaica
• Languages at home: 44% English-only · Spanish 42% French/Haitian/Cajun 9% 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: ▼ -345.65%
• Current HPI: 484.2793
• Rent YoY: ▲ 3.53%
• 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

• 2026-05-20 Pending — MARMLS
• 2026-03-09 Listed $3,800,000 MARMLS