503 58th St · West Palm Beach, FL 33407

$399,000

3 bd · 2.0 ba · 1,062 sqft · SingleFamily public records · 239 Days on market

Built 1928 4,903 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 +18.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +4.7/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice single family home in west palm beach! Close to downtown West Palm Beach, Cityplace, intracoastal and Ocean. Fully repaired and updated, freshly painted. Move in ready! Great deal wont last long!

Key facts

• 4,903 sq ft lot
• Parking
• Built 1928

Property features AI

Finance

• HOA & community: Community amenities include boating, dog park, jogging path, park, sidewalks, and street lights; Pets allowed

Exterior

• Parking: Attached carport; Covered carport (1 space)
• Utilities: Public water; Public sewer; Cable available; Water available; Sewer available
• Home design: Single family residence; Single-story; Resale property; Faces south
• Construction: CBS construction
• Exterior features: Patio; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Split bedroom layout; Unfurnished

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $399k.

Deal economics

• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $387k (3.0% below list).
• Recommended offer: $351k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 3.8% in West Palm 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 82/100 on livability (#75 in FL, #1,255 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, crime 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.
• Market conditions: Rents rising (+3.1%/yr); 305 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $3,870/mo this rent would consume 77% of the median local household income ($60k/yr) (locally 2157% 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 $3k of loan paydown is wiped out by about $12k 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 239 days — a 12% lower offer ($351k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $81k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $57k; list at $399k implies a 600% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• 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 $351,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 239 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 7.44%
• Cash-on-cash: 4.11%
• DSCR: 1.18
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.08% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.64×
• Total profit: $-39,954
• Equity at exit: $59,492

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-2,084
• Equity at exit: $34,498

Cash invested: $111,720 (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 33407

• Rents YoY: 3.1%
• Active inventory: 305
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $3,870 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$416 /mo · $4,992/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$813
• Net cashflow: $383

Break-even live

Break-even rent $3,386

Max offer price $399,000

Occupancy floor 85%

Sensitivity live

Price	-10% $609	-5% $496	+0% $383	+5% $270	+10% $157
Rent	-10% $77	-5% $230	+0% $383	+5% $536	+10% $689
Rate	-1.0pp $584	-0.5pp $484	base $383	+0.5pp $279	+1.0pp $174

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
510 56th St West Palm Beach, FL	2.0	1.0	1152	$3,800	$3.30	22d	1	0.16mi
517 55th St West Palm Beach, FL	2.0	2.0	1238	$4,550	$3.68	24d	1	0.18mi
5600 N Flagler Dr West Palm Beach, FL	1.0–3.0	2.0	1192	$6,000	$5.03	21d	8	0.24mi
5203 N Flagler Dr West Palm Beach, FL	3.0	1.5	1458	$6,000	$4.12	24d	1	0.38mi
424 51st St Unit 426 West Palm Beach, FL	3.0	2.0	1230	$3,500	$2.85	11d	1	0.41mi
436 51st St West Palm Beach, FL	2.0	1.0	968	$3,750	$3.87	24d	1	0.41mi
5101 Spruce Ave West Palm Beach, FL	3.0	3.0	1151	$3,100	$2.69	24d	1	0.42mi
5200 N Flagler Dr #2004 West Palm Beach, FL	2.0	2.0	1235	$3,800	$3.08	8d	1	0.43mi
5200 N Flagler Dr West Palm Beach, FL	2.0	2.0	1233	$3,375	$2.74	24d	2	0.44mi
522 W 2nd St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	24d	1	0.45mi
4444 N Flagler Dr West Palm Beach, FL	2.0	2.0	1300	$4,579	$3.52	24d	1	0.78mi
401 42nd St West Palm Beach, FL	3.0	1.0	1100	$4,950	$4.50	24d	1	0.85mi
401 42nd St West Palm Beach, FL	3.0	1.0	1400	$4,950	$3.54	15d	1	0.85mi
65 W 16th St Apt 1 Riviera Beach, FL	4.0	2.0	1200	$3,500	$2.92	8d	1	0.91mi
65 W 16th St Apt 1 Riviera Beach, FL	4.0	2.0	1232	$3,500	$2.84	17d	1	0.91mi
436 38th St West Palm Beach, FL	4.0	3.0	1479	$6,500	$4.39	24d	1	1.08mi
619 37th St West Palm Beach, FL	3.0	2.0	1414	$3,350	$2.37	24d	1	1.13mi
701 37th St West Palm Beach, FL	3.0	2.0	1426	$3,600	$2.52	24d	1	1.14mi
230 Colonial Ln Palm Beach, FL	2.0	2.0	1436	$20,000	$13.93	24d	1	1.20mi
636 35th St West Palm Beach, FL	3.0	2.0	1133	$3,500	$3.09	24d	1	1.28mi
158 E 23rd St Riviera Beach, FL	2.0	2.0	1110	$2,900	$2.61	24d	1	1.28mi
158 E 23rd St Riviera Beach, FL	2.0	2.0	1110	$2,900	$2.61	22d	1	1.28mi
306 34th St West Palm Beach, FL	2.0	1.0	1443	$4,650	$3.22	24d	1	1.31mi
3415 N Flagler Dr West Palm Beach, FL	2.0	2.0	1174	$9,950	$8.48	8d	1	1.33mi
3410 Poinsettia Ave West Palm Beach, FL	2.0	1.0	1257	$3,350	$2.67	12d	1	1.33mi
1401 W 9th St Riviera Beach, FL	3.0	2.0	1304	$3,200	$2.45	24d	1	1.36mi
120 Inlet Way #204 Palm Beach Shores, FL	2.0	2.0	1345	$10,000	$7.43	24d	1	1.45mi
517 31st St West Palm Beach, FL	2.0	1.5	1406	$3,150	$2.24	24d	1	1.46mi

Listing history 22 events

1. 2026-06-13
   statusdays on market $399,000 Pending 239 DOM
2. 2026-06-09
   days on market $399,000 Active 237 DOM
3. 2026-06-07
   days on market $399,000 Active 235 DOM
4. 2026-06-04
   days on market $399,000 Active 232 DOM
5. 2026-06-03
   days on market $399,000 Active 231 DOM
6. 2026-06-01
   days on market $399,000 Active 229 DOM
7. 2026-05-31
   days on market $399,000 Active 228 DOM
8. 2026-04-17
   price $399,000
9. 2026-02-09
   price $429,000
10. 2026-01-23
    price $449,000
11. 2025-11-22
    price $469,900
12. 2025-10-15
    listed $479,900 Active
13. 2013-09-22
    historical
14. 2013-06-22
    soldstatus $57,000 Closed 200-char remark

    Show marketing remark (200 chars)

    Nice single family home in west palm beach! Close to downtown West Palm Beach, Cityplace, intracoastal and Ocean. Fully repaired and updated, freshly painted. Move in ready! Great deal wont last long!

15. 2013-06-22
    status Pending 200-char remark

    Show marketing remark (200 chars)

    Nice single family home in west palm beach! Close to downtown West Palm Beach, Cityplace, intracoastal and Ocean. Fully repaired and updated, freshly painted. Move in ready! Great deal wont last long!

16. 2013-06-13
    soldstatus $57,000 200-char remark

    Show marketing remark (200 chars)

    Nice single family home in west palm beach! Close to downtown West Palm Beach, Cityplace, intracoastal and Ocean. Fully repaired and updated, freshly painted. Move in ready! Great deal wont last long!

17. 2013-06-11
    status Pending 200-char remark

    Show marketing remark (200 chars)

    Nice single family home in west palm beach! Close to downtown West Palm Beach, Cityplace, intracoastal and Ocean. Fully repaired and updated, freshly painted. Move in ready! Great deal wont last long!

18. 2013-05-22
    historical Contingent 200-char remark

    Show marketing remark (200 chars)

    Nice single family home in west palm beach! Close to downtown West Palm Beach, Cityplace, intracoastal and Ocean. Fully repaired and updated, freshly painted. Move in ready! Great deal wont last long!

19. 2013-05-15
    price $64,900 Price Change 200-char remark

    Show marketing remark (200 chars)

    Nice single family home in west palm beach! Close to downtown West Palm Beach, Cityplace, intracoastal and Ocean. Fully repaired and updated, freshly painted. Move in ready! Great deal wont last long!

20. 2013-01-07
    listed $67,500 Price Change 200-char remark

    Show marketing remark (200 chars)

    Nice single family home in west palm beach! Close to downtown West Palm Beach, Cityplace, intracoastal and Ocean. Fully repaired and updated, freshly painted. Move in ready! Great deal wont last long!

21. 2004-05-23
    listed $129,900
22. 1991-02-20
    soldstatus $21,000

ⓘ 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: $4,992 · $416/mo
• Projected year-2 tax: $4,992 · $416/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 3/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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: $46,442
• − Mortgage interest: −$22,350
• − Property taxes: −$4,992
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,715
• − Management: −$3,715
• − Depreciation: −$11,607
• Taxable loss: −$1,933
• Est. tax savings @ 24.0%: +$464
• After-tax cash flow: $5,058/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 — West Palm Beach

• Score: 82/100
• State rank: #75
• US rank: #1255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 34,851
• Household income: $59,993
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 2157.0

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 0.62)
• Race & ethnicity: Black 54% White 21% Hispanic / Latino 20% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 2%
• Common ancestry: Hispanic 8% Lithuanian 1% Romanian 1%
• Foreign-born: 26% · Canada, Vietnam, Jamaica
• Languages at home: 72% English-only · Spanish 17% French/Haitian/Cajun 8% 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: ▼ -299.26%
• Current HPI: 363.3995
• Rent YoY: ▲ 3.08%
• 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

+1800.0% since first listed

15 events — show timeline

• 2026-04-17 Price Changed $399,000 Beaches MLS
• 2026-02-09 Price Changed $429,000 Beaches MLS
• 2026-01-23 Price Changed $449,000 Beaches MLS
• 2025-11-22 Price Changed $469,900 Beaches MLS
• 2025-10-15 Listed $479,900 Beaches MLS
• 2013-09-22 Listing Removed — Beaches MLS
• 2013-06-22 Sold (MLS) $57,000 Beaches MLS
• 2013-06-22 Pending — Beaches MLS
• 2013-06-13 Sold (MLS) $57,000 Beaches MLS
• 2013-06-11 Pending — Beaches MLS
• 2013-05-22 Contingent — Beaches MLS
• 2013-05-15 Price Changed $64,900 Beaches MLS
• 2013-01-07 Listed $67,500 Beaches MLS
• 2004-05-23 Listed $129,900 Beaches MLS
• 1991-02-20 Sold (Public Records) $21,000 Public Records

Property tax history

+12.9%/yr

Latest (2025): $4,992 · -0.8% YoY. Source: county tax records.