736 Omar Rd · West Palm Beach, FL 33405

$950,000

4 bd · 4.0 ba · 2,720 sqft · MultiFamily public records · 98 Days on market

Built 1925

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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 +26.0/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 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 MLS

Turnkey fourplex available in West Palm Beach. All 1/1 units and fully occupied. Solid rental property in a convenient location close to downtown, shopping, restaurants, I95.

Key facts

• Built 1925
• Listed 98 days

Tags

• INCOME PRODUCING PROPERTY
• STABLE RENTAL REVENUE
• IDEALLY LOCATED NEAR DOWNTOWN
• CONVENIENT ACCESS TO I95

Property features AI

Finance

• Financial info: 4 total units; Gross income listed as $76,800; Net operating income listed as $76,800; Tenants responsible for electricity, sewer, and water; 4 units in community
• HOA & community: No association amenities

Exterior

• Utilities: Public water; Three-phase electric; Cable available; Water service available
• Home design: Quadruplex; Resale property; Living area recorded from plans
• Construction: Frame construction; Building area approximately 2,816 (from plans)
• Exterior features: Flat roof; Not waterfront

Interior

• Flooring: Clay; Tile; Wood
• Bathrooms: 4 bathrooms total
• Heating & cooling: Window/Wall heating; Wall/Window cooling units
• Interior features: Clay, tile, and wood flooring

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1.0-bath units multifamily listed at $950k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $590/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $950k).
• Recommended offer: $864k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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 (+3.4%/yr); 212 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $11,014/mo this rent would consume 151% of the median local household income ($87k/yr) (locally 1055% 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 $7k of loan paydown is wiped out by about $28k 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.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $266k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($864k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 25y 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 $760k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• 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 $864,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% 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 1925 — 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. 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?
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: 1.16% ✓
• Cap rate: 9.27%
• Cash-on-cash: 10.65%
• DSCR: 1.47
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.44% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $1,342
• Equity at exit: $141,648

10-year hold

• IRR: 10.2%
• Equity multiple: 1.81×
• Total profit: $215,168
• Equity at exit: $82,139

Cash invested: $266,000 (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 33405

• Rents YoY: 3.4%
• Active inventory: 212
• Price-to-rent: 28.8×

Monthly cashflow live

• Estimated rent: $11,014 high
• Mortgage (P&I): −$4,982
• Tax from tax record: −$963 /mo · $11,551/yr
• Insurance: −$396
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,313
• Net cashflow: $2,361

Break-even live

Break-even rent $8,026

Max offer price $950,000

Occupancy floor 74%

Sensitivity live

Price	-10% $2,899	-5% $2,630	+0% $2,361	+5% $2,092	+10% $1,823
Rent	-10% $1,491	-5% $1,926	+0% $2,361	+5% $2,796	+10% $3,231
Rate	-1.0pp $2,839	-0.5pp $2,602	base $2,361	+0.5pp $2,115	+1.0pp $1,864

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$11,012
Total (4 units)			$11,014

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: $237,500
• Closing costs: $28,500
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
748 Tallapoosa St West Palm Beach, FL	3.0	2.0	1877	$3,500	$1.86	25d	1	0.11mi
746 Upland Rd West Palm Beach, FL	3.0	2.5	2672	$17,000	$6.36	18d	1	0.33mi
710 Claremore Dr West Palm Beach, FL	4.0	4.0	2920	$12,450	$4.26	25d	1	0.45mi
727 Claremore Dr West Palm Beach, FL	4.0	3.0	2469	$13,500	$5.47	22d	1	0.47mi
412 El Prado West Palm Beach, FL	4.0	3.5	2111	$11,000	$5.21	8d	1	0.53mi
2233 Dock St West Palm Beach, FL	4.0	3.0	1926	$5,300	$2.75	25d	1	0.58mi
325 Greymon Dr West Palm Beach, FL	4.0	3.5	2280	$14,500	$6.36	25d	1	0.59mi
236 Greymon Dr West Palm Beach, FL	3.0	2.0	1813	$8,500	$4.69	25d	1	0.68mi
1901 Dock St West Palm Beach, FL	3.0	3.5	2375	$16,500	$6.95	6d	1	0.68mi
1901 Dock St West Palm Beach, FL	3.0	3.5	2375	$13,500	$5.68	5d	1	0.68mi
3663 Vintage Way West Palm Beach, FL	3.0	3.5	3013	$4,850	$1.61	25d	1	0.75mi
3860 Lambert Ave West Palm Beach, FL	3.0	2.5	2262	$6,000	$2.65	25d	1	0.82mi
340 Walton Blvd West Palm Beach, FL	3.0	2.5	1854	$4,000	$2.16	8d	1	0.85mi
200 Arkona Ct #804 West Palm Beach, FL	3.0	3.5	2992	$29,000	$9.69	8d	1	0.97mi
3901 S Flagler Dr West Palm Beach, FL	2.0–5.0	2.0–5.0	2266	$9,167	$4.05	22d	6	1.05mi
3901 S Flagler Dr West Palm Beach, FL	2.0–5.0	2.0–5.0	2266	$9,000	$3.97	3d	6	1.05mi
4015 Washington Rd West Palm Beach, FL	4.0	3.0	2199	$12,500	$5.68	25d	1	1.06mi
4110 Washington Rd West Palm Beach, FL	3.0	2.5	1971	$12,500	$6.34	25d	1	1.11mi
4210 Washington Rd West Palm Beach, FL	4.0	4.0	2692	$12,000	$4.46	25d	1	1.15mi
4300 Washington Rd West Palm Beach, FL	3.0	2.5	1892	$9,800	$5.18	25d	1	1.17mi
136 Worth Ct S West Palm Beach, FL	3.0	3.5	2690	$21,500	$7.99	25d	1	1.27mi
801 S Olive Ave #427 West Palm Beach, FL	3.0	3.0	1982	$12,000	$6.05	25d	1	1.31mi
1041 W Lakewood Rd West Palm Beach, FL	3.0	2.5	1857	$4,300	$2.32	25d	1	1.31mi
210 Russlyn Dr West Palm Beach, FL	3.0	2.0	2653	$8,000	$3.02	25d	1	1.37mi
417 Peruvian Ave #1 Palm Beach, FL	3.0	3.0	1942	$37,000	$19.05	25d	1	1.47mi
375 Plymouth Rd West Palm Beach, FL	3.0	2.5	1967	$10,000	$5.08	25d	1	1.48mi

Listing history 19 events

1. 2026-02-16
   listed $950,000 Active
2. 2024-09-09
   soldstatus $759,792
3. 2024-08-30
   soldstatus $759,792 Closed 174-char remark

   Show marketing remark (174 chars)

   Turnkey fourplex available in West Palm Beach. All 1/1 units and fully occupied. Solid rental property in a convenient location close to downtown, shopping, restaurants, I95.

4. 2024-07-15
   historical Active Under Contract 174-char remark

   Show marketing remark (174 chars)

   Turnkey fourplex available in West Palm Beach. All 1/1 units and fully occupied. Solid rental property in a convenient location close to downtown, shopping, restaurants, I95.

5. 2024-07-08
   status Active 174-char remark

   Show marketing remark (174 chars)

   Turnkey fourplex available in West Palm Beach. All 1/1 units and fully occupied. Solid rental property in a convenient location close to downtown, shopping, restaurants, I95.

6. 2024-06-24
   historical Active Under Contract 174-char remark

   Show marketing remark (174 chars)

   Turnkey fourplex available in West Palm Beach. All 1/1 units and fully occupied. Solid rental property in a convenient location close to downtown, shopping, restaurants, I95.

7. 2024-05-15
   listed $775,000 Active 174-char remark

   Show marketing remark (174 chars)

   Turnkey fourplex available in West Palm Beach. All 1/1 units and fully occupied. Solid rental property in a convenient location close to downtown, shopping, restaurants, I95.

8. 2024-03-19
   historical $1,600
9. 2024-03-14
   listed $1,600
10. 2023-11-28
    historical $1,650
11. 2023-11-27
    listed $1,650
12. 2023-11-18
    historical $1,650
13. 2023-10-28
    listed $1,650
14. 2022-09-09
    soldstatus $322,222
15. 2019-05-23
    soldstatus $244,000
16. 2002-06-11
    soldstatus $92,000
17. 2001-05-31
    soldstatus $92,000 173-char remark

    Show marketing remark (173 chars)

    2 STORY SPANISH APARTMENT HOUSE W/ DETACHED GARAGE AND EFFICIENCY. LG. APTS 3 MONTH TO MONTH TENANTS PAYING WAY UNDER MARKET VALUE. NEEDS SOME WORK BUT A GREAT INVESTMENT!!!

18. 2001-02-27
    historical 173-char remark

    Show marketing remark (173 chars)

    2 STORY SPANISH APARTMENT HOUSE W/ DETACHED GARAGE AND EFFICIENCY. LG. APTS 3 MONTH TO MONTH TENANTS PAYING WAY UNDER MARKET VALUE. NEEDS SOME WORK BUT A GREAT INVESTMENT!!!

19. 2001-02-24
    listed $169,000 173-char remark

    Show marketing remark (173 chars)

    2 STORY SPANISH APARTMENT HOUSE W/ DETACHED GARAGE AND EFFICIENCY. LG. APTS 3 MONTH TO MONTH TENANTS PAYING WAY UNDER MARKET VALUE. NEEDS SOME WORK BUT A GREAT INVESTMENT!!!

ⓘ 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: $11,551 · $963/mo
• Projected year-2 tax: $11,551 · $963/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 · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $132,168
• − Mortgage interest: −$53,215
• − Property taxes: −$11,551
• − Insurance: −$4,750
• − Repairs & maintenance: −$10,573
• − Management: −$10,573
• − Depreciation: −$27,636
• Taxable income: $13,869
• Est. tax owed @ 24.0%: −$3,329
• After-tax cash flow: $25,000/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): 19,780
• Household income: $87,341
• Rent vs Own: 43.7% rent · 56.3% own
• Severe rent burden: 1055.0

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: Majority Hispanic (51%)
• Race & ethnicity: Hispanic / Latino 51% White 44% Two or more races 24% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 5% Cuban 17% Dominican 2%
• Common ancestry: Scotch-Irish 2% Slovak 2% Romanian 2%
• Foreign-born: 37% · Canada, Guatemala, Jamaica
• Languages at home: 50% English-only · Spanish 44% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -662.68%
• Current HPI: 509.781
• Rent YoY: ▲ 3.44%
• 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

+462.1% since first listed

19 events — show timeline

• 2026-02-16 Listed $950,000 Beaches MLS
• 2024-09-09 Sold (Public Records) $759,792 Public Records
• 2024-08-30 Sold (MLS) $759,792 Beaches MLS
• 2024-07-15 Contingent — Beaches MLS
• 2024-07-08 Relisted — Beaches MLS
• 2024-06-24 Contingent — Beaches MLS
• 2024-05-15 Listed $775,000 Beaches MLS
• 2024-03-19 Rental Removed $1,600 RMLSFL
• 2024-03-14 Listed for Rent $1,600 RMLSFL
• 2023-11-28 Rental Removed $1,650 RMLSFL
• 2023-11-27 Listed for Rent $1,650 RMLSFL
• 2023-11-18 Rental Removed $1,650 RMLSFL
• 2023-10-28 Listed for Rent $1,650 RMLSFL
• 2022-09-09 Sold (Public Records) $322,222 Public Records
• 2019-05-23 Sold (Public Records) $244,000 Public Records
• 2002-06-11 Sold (Public Records) $92,000 Public Records
• 2001-05-31 Sold (MLS) $92,000 Beaches MLS
• 2001-02-27 Listing Removed — Beaches MLS
• 2001-02-24 Listed $169,000 Beaches MLS

Property tax history

+12.9%/yr

Latest (2025): $11,551 · +50.0% YoY. Source: county tax records.