4453 Stevens Rd · Palm Springs, FL 33461

$690,000

5 bd · 3.0 ba · 2,576 sqft · MultiFamily public records · 26 Days on market

Built 1977 0.35 ac lot

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Why this score? — see what drove the D 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 +14.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Schools +4.3/10.0
• 1% rule +3.9/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

This is a short sale. It has been approved for 150K.Ready to close, good investment, all units rented,there is parking for 8 cars and fully fenced.

Key facts

• Three separate units
• No hoa
• New roof

Tags

• NEW ROOF
• THREE SEPARATE UNITS
• NO HOA

Property features AI

Finance

• Other: Lot size approximately 0.35 acre; Publicly maintained road access; Not waterfront
• Financial info: Four total units; Tenants pay cable TV, electricity, and water; Pets allowed with no restrictions; Three units in the community; No land lease

Exterior

• Utilities: Well water; Septic tank sewer; Cable available; Electricity available; Water available; Three separate electric meters; Three separate water meters
• Home design: Triplex; One story; Resale property; Located on a city street west of US-1
• Construction: CBS construction; Composition roof; Building area about 3,104 total (public records); Living area about 2,576
• Exterior features: Open patio; Patio

Interior

• Flooring: Ceramic tile
• Heating & cooling: Window/wall heating; Wall/window cooling units
• Interior features: Ceramic tile flooring

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1-bath units multifamily listed at $690k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/yr) — positive. Per door: $35/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $613k (11.1% below list).
• Recommended offer: $613k (11.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#297 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment 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.
• Zoned schools: Palm Springs Elementary School (math 27% / reading 32%, grade F, #1,896 of 2,144 statewide, top 90%, 1,010 students, 79% FRL); Lake Worth Community Middle (math 17% / reading 23%, grade F, #558 of 571 statewide, top 98%, 1,249 students, 75% FRL); Lake Worth High School (math 16% / reading 27%, grade F, #546 of 667 statewide, top 82%, 2,683 students, 71% FRL) — zoned schools average 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 50% district-wide (-26 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 (-2.5%/yr); 276 active listings in the ZIP; 5 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).
• At $6,133/mo this rent would consume 119% of the median local household income ($62k/yr) (locally 2663% 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 $5k of loan paydown is wiped out by about $21k 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 26 days — a 2% lower offer ($680k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 24y 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 $100k; list at $690k implies a 590% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $613,300 (11.1% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 9.4

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: -18.6%
• Equity multiple: 0.36×
• Total profit: $-122,968
• Equity at exit: $102,881

10-year hold

• IRR: -18.6%
• Equity multiple: 0.13×
• Total profit: $-167,557
• Equity at exit: $59,659

Cash invested: $193,200 (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 33461

• Rents YoY: -2.5%
• Active inventory: 276
• Price-to-rent: 28.1×

Monthly cashflow live

• Estimated rent: $6,133 high
• Mortgage (P&I): −$3,618
• Tax from tax record: −$833 /mo · $10,000/yr
• Insurance: −$288
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,288
• Net cashflow: $106

Break-even live

Break-even rent $5,999

Max offer price $690,000

Occupancy floor 93%

Sensitivity live

Price	-10% $496	-5% $301	+0% $106	+5% $-89	+10% $-285
Rent	-10% $-379	-5% $-136	+0% $106	+5% $348	+10% $590
Rate	-1.0pp $453	-0.5pp $281	base $106	+0.5pp $-73	+1.0pp $-255

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,132
Total (3 units)			$6,133

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: $172,500
• Closing costs: $20,700
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4425 Steven Rd Lake Worth, FL	5.0	3.0	2304	$2,900	$1.26	26d	1	0.06mi
4820 Vermont Ave Lake Worth, FL	5.0	3.0	1948	$5,500	$2.82	1d	1	0.25mi
417 N Country Club Dr Lake Worth, FL	4.0	3.5	2868	$7,250	$2.53	26d	1	0.95mi
5029 Starblaze Dr Greenacres, FL	4.0	2.5	2077	$3,500	$1.69	24d	1	1.39mi
5049 Starblaze Dr Greenacres, FL	4.0	2.5	2077	$3,100	$1.49	26d	1	1.46mi

Listing history 40 events

1. 2026-06-21
   days on market $690,000 Active 26 DOM
2. 2026-06-18
   days on market $690,000 Active 23 DOM
3. 2026-06-17
   days on market $690,000 Active 22 DOM
4. 2026-06-16
   days on market $690,000 Active 21 DOM
5. 2026-06-15
   days on market $690,000 Active 20 DOM
6. 2026-06-13
   days on market $690,000 Active 18 DOM
7. 2026-06-09
   days on market $690,000 Active 14 DOM
8. 2026-06-08
   days on market $690,000 Active 13 DOM
9. 2026-06-07
   days on market $690,000 Active 12 DOM
10. 2026-06-04
    days on market $690,000 Active 9 DOM
11. 2026-06-03
    days on market $690,000 Active 8 DOM
12. 2026-06-02
    days on market $690,000 Active 7 DOM
13. 2026-06-01
    days on market $690,000 Active 6 DOM
14. 2026-05-31
    days on market $690,000 Active 5 DOM
15. 2026-05-26
    listed $690,000 Active
16. 2011-09-27
    soldstatus $100,000
17. 2011-09-22
    soldstatus $100,000 147-char remark

    Show marketing remark (147 chars)

    This is a short sale. It has been approved for 150K.Ready to close, good investment, all units rented,there is parking for 8 cars and fully fenced.

18. 2011-08-24
    historical 147-char remark

    Show marketing remark (147 chars)

    This is a short sale. It has been approved for 150K.Ready to close, good investment, all units rented,there is parking for 8 cars and fully fenced.

19. 2010-06-14
    listed $120,000 147-char remark

    Show marketing remark (147 chars)

    This is a short sale. It has been approved for 150K.Ready to close, good investment, all units rented,there is parking for 8 cars and fully fenced.

20. 2010-06-12
    historical
21. 2009-04-30
    listed $183,000
22. 2009-03-11
    historical
23. 2008-12-01
    historical
24. 2008-03-11
    listed $260,000
25. 2007-11-30
    listed $349,000
26. 2005-01-24
    soldstatus $335,000
27. 2005-01-11
    soldstatus $335,000
28. 2004-12-06
    historical
29. 2004-10-10
    listed $345,000
30. 2003-12-02
    soldstatus $265,000
31. 2003-11-20
    soldstatus $265,000
32. 2003-10-01
    historical
33. 2003-08-07
    listed $269,999
34. 2003-02-25
    soldstatus $179,900
35. 2003-02-14
    soldstatus $179,900
36. 2002-12-13
    historical
37. 2002-01-15
    listed $179,900
38. 1987-12-01
    soldstatus $129,000
39. 1987-01-01
    soldstatus $129,000
40. 1986-12-01
    soldstatus $129,000

ⓘ 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: $10,000 · $833/mo
• Projected year-2 tax: $10,000 · $833/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 27 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: $73,596
• − Mortgage interest: −$38,651
• − Property taxes: −$10,000
• − Insurance: −$3,450
• − Repairs & maintenance: −$5,888
• − Management: −$5,888
• − Depreciation: −$20,073
• Taxable loss: −$10,353
• Est. tax savings @ 24.0%: +$2,485
• After-tax cash flow: $3,754/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 Springs

• Score: 73/100
• State rank: #297
• US rank: #5045

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment D+ 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
• City population: 49,443
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 49,443
• Household income: $61,963
• Rent vs Own: 48.2% rent · 51.8% own
• Severe rent burden: 2663.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 59% Two or more races 26% White 20% Black 17% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 6% Cuban 16% Dominican 2%
• Common ancestry: Hispanic 9% Romanian 1% Lithuanian 1%
• Foreign-born: 52% · Canada, Jamaica
• Languages at home: 31% English-only · Spanish 54% 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: ▼ -269.03%
• Current HPI: 493.0041
• Rent YoY: ▼ -2.47%
• 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

+434.9% since first listed

26 events — show timeline

• 2026-05-26 Listed $690,000 Beaches MLS
• 2011-09-27 Sold (Public Records) $100,000 Public Records
• 2011-09-22 Sold (MLS) $100,000 Beaches MLS
• 2011-08-24 Listing Removed — Beaches MLS
• 2010-06-14 Listed $120,000 Beaches MLS
• 2010-06-12 Listing Removed — Beaches MLS
• 2009-04-30 Listed $183,000 Beaches MLS
• 2009-03-11 Listing Removed — Beaches MLS
• 2008-12-01 Listing Removed — Beaches MLS
• 2008-03-11 Listed $260,000 Beaches MLS
• 2007-11-30 Listed $349,000 Beaches MLS
• 2005-01-24 Sold (Public Records) $335,000 Public Records
• 2005-01-11 Sold (MLS) $335,000 Beaches MLS
• 2004-12-06 Listing Removed — Beaches MLS
• 2004-10-10 Listed $345,000 Beaches MLS
• 2003-12-02 Sold (Public Records) $265,000 Public Records
• 2003-11-20 Sold (MLS) $265,000 Beaches MLS
• 2003-10-01 Listing Removed — Beaches MLS
• 2003-08-07 Listed $269,999 Beaches MLS
• 2003-02-25 Sold (Public Records) $179,900 Public Records
• 2003-02-14 Sold (MLS) $179,900 Beaches MLS
• 2002-12-13 Listing Removed — Beaches MLS
• 2002-01-15 Listed $179,900 Beaches MLS
• 1987-12-01 Sold (Public Records) $129,000 Public Records
• 1987-01-01 Sold (Public Records) $129,000 Public Records
• 1986-12-01 Sold (Public Records) $129,000 Public Records

Property tax history

+9.0%/yr

Latest (2025): $10,000 · +11.5% YoY. Source: county tax records.