4681 Cherry Rd

Haverhill, FL 33417

$275,000C

3 bd · 2.5 ba · 1,788 sqft · Built 1980 · Townhouse · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,384/mo
• Mortgage (P&I): −$1,442
• Tax + insurance: −$404
• HOA: −$385
• Vac / Maint / Mgmt: −$711
• Net cashflow: $442/mo
• Annual: $5,300/yr
• Cap rate: 8.22%
• Cash-on-cash: 6.88%
• DSCR: 1.31
• 1% rule: 1.23%
• Cash to close: $77,000

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $275k.
• At list price, monthly cash flow is $442 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• It's been on market 19 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $271k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#545 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+; Watch: schools D-, amenities F, commute 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 flat; 479 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 29y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $275k implies a 267% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 2→7/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $3,384/mo this rent would consume 79% of the median local household income ($52k/yr) (locally 2548% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.