8690 Sunset Dr A · Palm Beach Gardens, FL 33410

$900,000

5 bd · 2.0 ba · 1,932 sqft · MultiFamily public records · 161 Days on market

Built 1973

---

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 +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

INCOME PRODUCING TRIPLEX, Unit #1: 2/1 $1,750.00 Lease ends 11/14/2026., Unit#2: 3/2 $2,300.00 Lease ends 07/19/2026., Unit #3: 2/1 $1,750.00 Lease ends 04/30/2027., Total monthly income $5,800.00, Gross annual income $69,600.00, long-term tenants, looking to stay and renew the leases, a new roof on both buildings in 2021, a new Septic Drain field in June 2020, new paint, some updating to kitchens and baths, plenty of parking, all with separate electric and water meters. Sold As Is with the right to inspect. Seller is firm on price. No showings without an accepted offer and proof of funds. Showing will be scheduled at the time of inspection only.

Key facts

• Updating to kitchens
• New paint
• New roof

Tags

• INCOME PRODUCING TRIPLEX
• NEW ROOF
• NEW SEPTIC DRAIN FIELD
• NEW PAINT
• UPDATING TO KITCHENS
• UPDATING TO BATHS

Property features AI

Finance

• Financial info: Total actual rent: $70,200; Operating expenses: $15,000; Rents by unit type — 2-bed units renting around $1,750–$1,800 and 3-bed units around $2,300; Gardener service included in rent

Exterior

• Parking: Open parking with a total of 6 spaces
• Utilities: Public water; Septic tank sewer; Cable available
• Home design: Single-story property; Resale; Zoned RM
• Construction: Block, stucco, and wood siding construction; Shingle roof
• Exterior features: Fenced yard; Porch; Patio (open)

Interior

• Kitchen: Kitchens included in each unit; Separate dining area in some units
• Bedrooms: Three 2-bedroom units; Two 3-bedroom units
• Flooring: Tile flooring; Vinyl flooring
• Bathrooms: Three 1-bath units; Two 2-bath units
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Double-hung and metal windows; Tile and vinyl flooring
• Laundry & utility: Washer provided in each unit

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/2.7-bath units multifamily listed at $900k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $676/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $900k).
• Recommended offer: $792k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#464 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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 (+2.5%/yr); 303 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $10,270/mo this rent would consume 130% of the median local household income ($95k/yr) (locally 1429% 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 $6k of loan paydown is wiped out by about $27k 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 161 days — a 12% lower offer ($792k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $700k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $792,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% 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 1973 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.14% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.66%
• DSCR: 1.43
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.49% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-21,872
• Equity at exit: $134,193

10-year hold

• IRR: 6.8%
• Equity multiple: 1.50×
• Total profit: $126,238
• Equity at exit: $77,816

Cash invested: $252,000 (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 33410

• Rents YoY: 2.5%
• Active inventory: 303
• Price-to-rent: 21.9×

Monthly cashflow live

• Estimated rent: $10,270 medium
• Mortgage (P&I): −$4,720
• Tax from tax record: −$991 /mo · $11,892/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,157
• Net cashflow: $2,028

Break-even live

Break-even rent $7,703

Max offer price $900,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	2.7	$10,269
Total (3 units)			$10,270

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: $225,000
• Closing costs: $27,000
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
810 Sandtree Dr Palm Beach Gardens, FL	4.0	2.5	1800	$3,400	$1.89	24d	1	0.38mi
3836 Dove Landing Rd West Palm Beach, FL	4.0	2.0	1790	$3,400	$1.90	7d	1	0.79mi
3836 Dove Landing Rd West Palm Beach, FL	4.0	2.0	1790	$3,400	$1.90	24d	1	0.79mi
9130 E Highland Pines Blvd Unit 1326856P Palm Beach Gardens, FL	2.0–4.0	2.0–4.0	1721	$7,420	$4.31	2d	2	0.81mi
9519 Birmingham Dr Palm Beach Gardens, FL	4.0	2.0	1355	$3,195	$2.36	5d	1	0.85mi
4216 Leo Ln Unit 5G Riviera Beach, FL	4.0	2.0	2116	$2,900	$1.37	24d	1	0.87mi
4408 Hemlock Dr Riviera Beach, FL	4.0	2.5	1861	$3,200	$1.72	20d	1	0.97mi
2004 Sugar Maple Dr Riviera Beach, FL	4.0	2.5	1861	$2,995	$1.61	13d	1	1.08mi
4193 Hyacinth Cir N Palm Beach Gardens, FL	4.0	2.0	1640	$7,500	$4.57	24d	1	1.24mi
4317 Honeysuckle Ave Palm Beach Gardens, FL	4.0	2.0	1885	$3,291	$1.75	13d	1	1.31mi
379 Garden Blvd Palm Beach Gardens, FL	4.0	2.0	1642	$4,500	$2.74	24d	1	1.40mi
10044 Dasheen Ave Palm Beach Gardens, FL	4.0	2.0	1642	$4,500	$2.74	24d	1	1.40mi
337 Balsam St Palm Beach Gardens, FL	4.0	2.0	1426	$5,500	$3.86	18d	1	1.41mi
343 Balsam St Palm Beach Gardens, FL	4.0	2.0	1414	$4,000	$2.83	24d	1	1.42mi

Listing history 24 events

1. 2026-06-18
   days on market $900,000 Active 161 DOM
2. 2026-06-17
   days on market $900,000 Active 160 DOM
3. 2026-06-16
   days on market $900,000 Active 159 DOM
4. 2026-06-15
   days on market $900,000 Active 158 DOM
5. 2026-06-13
   days on market $900,000 Active 156 DOM
6. 2026-06-09
   days on market $900,000 Active 152 DOM
7. 2026-06-07
   days on market $900,000 Active 150 DOM
8. 2026-06-04
   days on market $900,000 Active 147 DOM
9. 2026-06-03
   days on market $900,000 Active 146 DOM
10. 2026-06-01
    days on market $900,000 Active 144 DOM
11. 2026-05-31
    days on market $900,000 Active 143 DOM
12. 2026-01-08
    listed $900,000 Active
13. 2025-12-31
    historical
14. 2025-09-30
    price $900,000
15. 2025-09-30
    status Active
16. 2025-02-21
    status Active
17. 2025-02-21
    status Pending
18. 2025-02-05
    listed $950,000 Active
19. 2025-01-31
    historical
20. 2024-03-22
    listed $950,000 Active
21. 2023-07-21
    historical
22. 2022-05-04
    soldstatus $700,000
23. 2019-10-23
    soldstatus $300,000
24. 1988-11-21
    soldstatus $127,000

ⓘ 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: $11,892 · $991/mo
• Projected year-2 tax: $11,892 · $991/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 4/10 Moderate FEMA zone X (unshaded) · 24% 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: $123,240
• − Mortgage interest: −$50,414
• − Property taxes: −$11,892
• − Insurance: −$4,500
• − Repairs & maintenance: −$9,859
• − Management: −$9,859
• − Depreciation: −$26,182
• Taxable income: $10,533
• Est. tax owed @ 24.0%: −$2,528
• After-tax cash flow: $21,803/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 — Palm Beach Gardens

• Score: 69/100
• State rank: #464
• US rank: #8366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Beach Gardens, FL
• County: Palm Beach County · 1,438,312 people
• City population: 96,294
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 36,759
• Household income: $94,530
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 1429.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 15% Two or more races 13% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 17% · Canada, Jamaica, Vietnam
• Languages at home: 78% English-only · Spanish 13% French/Haitian/Cajun 3% 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: ▼ -346.12%
• Current HPI: 375.5381
• Rent YoY: ▲ 2.49%
• 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

+608.7% since first listed

13 events — show timeline

• 2026-01-08 Listed $900,000 MARMLS
• 2025-12-31 Listing Removed — MARMLS
• 2025-09-30 Price Changed $900,000 MARMLS
• 2025-09-30 Relisted — MARMLS
• 2025-02-21 Relisted — MARMLS
• 2025-02-21 Pending — MARMLS
• 2025-02-05 Listed $950,000 MARMLS
• 2025-01-31 Listing Removed — MARMLS
• 2024-03-22 Listed $950,000 MARMLS
• 2023-07-21 Rental Removed — MARMLS
• 2022-05-04 Sold (Public Records) $700,000 Public Records
• 2019-10-23 Sold (Public Records) $300,000 Public Records
• 1988-11-21 Sold (Public Records) $127,000 Public Records

Property tax history

+9.4%/yr

Latest (2025): $11,892 · -0.9% YoY. Source: county tax records.