1172 W 34th St #1 · Riviera Beach, FL 33404

$735,000

4 bd · 2.0 ba · 1,612 sqft · MultiFamily public records · 30 Days on market

Built 1960 7,513 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 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

Investor Opportunity | 4-Unit Multifamily | Riviera Beach, FL Prime income-producing quadruplex in Riviera Beach's Pleasant Heights subdivision. Features (3) 2bed/1bath and (1) 3bed/1bath units across ±3,000 sq ft on a 0.17-acre lot. Annual leases in place. Minutes from Singer Island beaches, shopping, dining, and easy access to I-95 and Blue Heron Blvd. Excellent value-add potential in one of Palm Beach County's most affordable multifamily markets. Schedule your showing today!

Key facts

• Value add potential
• Multifamily
• Income producing

Tags

• MULTIFAMILY
• INCOME PRODUCING
• PLEASANT HEIGHTS
• VALUE ADD POTENTIAL
• EASY ACCESS TO I95

What this means for you Summary

Snapshot

• This is a 3×2bd/1ba + 1×3bd/1ba units multifamily listed at $735k.

Deal economics

• At list price, monthly cash flow is $3k ($35k/yr) — positive. Per door: $724/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $735k).
• Recommended offer: $724k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#581 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: employment D, crime F, amenities 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: Dr. Mary Mcleod Bethune Elementary (math 28% / reading 25%, grade F, #2,009 of 2,144 statewide, top 94%, 540 students, 87% FRL); Howell L. Watkins Middle School (math 18% / reading 33%, grade F, #512 of 571 statewide, top 90%, 794 students, 76% FRL); Palm Beach Gardens High School (math 19% / reading 40%, grade F, #447 of 667 statewide, top 68%, 2,570 students, 61% 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 27% at this address vs 50% district-wide (-22 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 (-0.7%/yr); 506 active listings in the ZIP; 27 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 $10,100/mo this rent would consume 186% of the median local household income ($65k/yr) (locally 1838% 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 $22k 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 + 0.0% rent growth), your $206k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($724k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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.

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 $723,975 (1.5% 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 1960 — 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. 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 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: 1.37% ✓
• Cap rate: 11.02%
• Cash-on-cash: 16.89%
• DSCR: 1.75
• GRM: 6.1

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: 4.7%
• Equity multiple: 1.17×
• Total profit: $35,956
• Equity at exit: $109,591

10-year hold

• IRR: 11.2%
• Equity multiple: 1.75×
• Total profit: $155,122
• Equity at exit: $63,549

Cash invested: $205,800 (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 33404

• Home prices YoY: -31.1%
• Rents YoY: -0.7%
• Active inventory: 506
• Price-to-rent: 25.7×

Monthly cashflow live

• Estimated rent: $10,100 medium
• Mortgage (P&I): −$3,854
• Tax from tax record: −$921 /mo · $11,058/yr
• Insurance: −$306
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,121
• Net cashflow: $2,897

Break-even live

Break-even rent $6,433

Max offer price $735,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$7,158
1× unit	3	1	$2,941
Total (4 units)			$10,100

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: $183,750
• Closing costs: $22,050
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1389 W 33rd St Riviera Beach, FL	4.0	3.0	1737	$3,000	$1.73	24d	1	0.27mi
815 Silver Beach Rd Lake Park, FL	4.0	3.0	1480	$3,000	$2.03	24d	1	0.29mi
1400 W 28th St Unit 1 Riviera Beach, FL	4.0	2.0	1100	$3,200	$2.91	24d	1	0.39mi
855 Date Palm Dr West Palm Beach, FL	3.0	3.0	1216	$3,150	$2.59	24d	1	0.45mi
520 W 28th St Riviera Beach, FL	3.0	1.0	1296	$6,000	$4.63	3d	1	0.67mi
2226 Oakmont Dr Riviera Beach, FL	3.0	2.5	1972	$2,850	$1.45	24d	1	0.90mi
2016 Avenue S Riviera Beach, FL	4.0	3.0	1128	$3,800	$3.37	24d	1	0.91mi
111 W 35th St Riviera Beach, FL	4.0	2.0	1600	$3,000	$1.88	11d	1	0.95mi
250 Foresteria Dr West Palm Beach, FL	4.0	3.0	2080	$11,500	$5.53	20d	1	1.02mi
301 Hawthorne Dr West Palm Beach, FL	3.0	2.0	1402	$3,200	$2.28	24d	1	1.10mi
220 Lake Shore Dr Lake Park, FL	1.0–3.0	1.5–3.5	1575	$25,000	$15.87	5d	18	1.19mi
135 E 28th St Riviera Beach, FL	4.0	2.0	1711	$3,200	$1.87	24d	1	1.25mi
1401 W 9th St Riviera Beach, FL	3.0	2.0	1304	$3,200	$2.45	24d	1	1.36mi
65 W 16th St Apt 1 Riviera Beach, FL	4.0	2.0	1232	$3,500	$2.84	17d	1	1.37mi
65 W 16th St Apt 1 Riviera Beach, FL	4.0	2.0	1200	$3,500	$2.92	7d	1	1.37mi
620 Southwind Cir Unit A North Palm Beach, FL	3.0	2.0	1697	$4,200	$2.47	24d	1	1.45mi
624 Southwind Cir Apt 4 North Palm Beach, FL	3.0	2.0	1134	$4,750	$4.19	24d	1	1.45mi
624 Southwind Cir Unit 3 North Palm Beach, FL	3.0	3.0	1316	$5,500	$4.18	24d	1	1.45mi
360 Wilma Cir #7 Riviera Beach, FL	3.0	2.0	1590	$4,500	$2.83	24d	1	1.45mi
2545 Conroy Dr West Palm Beach, FL	3.0	2.0	1066	$3,295	$3.09	24d	1	1.48mi
2573 Conroy Dr West Palm Beach, FL	5.0	3.0	2153	$5,950	$2.76	24d	1	1.49mi
2650 Lake Shore Dr #2303 Riviera Beach, FL	3.0	3.0	1537	$4,950	$3.22	24d	1	1.49mi
2650 Lake Shore Dr #1003 Riviera Beach, FL	3.0	3.0	1788	$4,200	$2.35	24d	1	1.49mi
2650 Lake Shore Dr #1203 Riviera Beach, FL	3.0	3.0	1803	$4,250	$2.36	24d	1	1.49mi
2650 Lake Shore Dr #2403 Riviera Beach, FL	3.0	3.0	1788	$6,000	$3.36	24d	1	1.49mi
2650 Lake Shore Dr #804 Riviera Beach, FL	3.0	3.5	1704	$4,500	$2.64	24d	1	1.49mi
2650 Lake Shore Dr #803 Riviera Beach, FL	3.0	3.0	1800	$5,000	$2.78	24d	1	1.49mi

Listing history 29 events

1. 2026-06-18
   days on market $735,000 Active 30 DOM
2. 2026-06-17
   days on market $735,000 Active 29 DOM
3. 2026-06-16
   days on market $735,000 Active 28 DOM
4. 2026-06-15
   days on market $735,000 Active 27 DOM
5. 2026-06-13
   days on market $735,000 Active 25 DOM
6. 2026-06-09
   days on market $735,000 Active 21 DOM
7. 2026-06-08
   days on market $735,000 Active 20 DOM
8. 2026-06-07
   days on market $735,000 Active 19 DOM
9. 2026-06-04
   days on market $735,000 Active 16 DOM
10. 2026-06-03
    days on market $735,000 Active 15 DOM
11. 2026-06-02
    days on market $735,000 Active 14 DOM
12. 2026-06-01
    days on market $735,000 Active 13 DOM
13. 2026-05-31
    days on market $735,000 Active 12 DOM
14. 2026-04-23
    status Pending
15. 2026-04-13
    listed $735,000 Active
16. 2025-11-19
    historical $2,500
17. 2025-10-17
    listed $2,500
18. 2023-07-17
    soldstatus $650,000
19. 2022-12-02
    historical
20. 2022-11-01
    status Active
21. 2022-10-30
    historical
22. 2022-09-27
    price $629,000
23. 2022-08-04
    price $642,000
24. 2022-07-25
    status Active
25. 2022-07-14
    status Pending
26. 2022-07-01
    listed $650,000 Active
27. 2016-07-22
    soldstatus $230,000
28. 2015-02-11
    soldstatus $136,000
29. 2015-02-11
    soldstatus $162,900

ⓘ 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: $11,058 · $921/mo
• Projected year-2 tax: $11,058 · $921/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 ≥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: $121,200
• − Mortgage interest: −$41,171
• − Property taxes: −$11,058
• − Insurance: −$3,675
• − Repairs & maintenance: −$9,696
• − Management: −$9,696
• − Depreciation: −$21,382
• Taxable income: $24,522
• Est. tax owed @ 24.0%: −$5,885
• After-tax cash flow: $28,877/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 — Riviera Beach

• Score: 67/100
• State rank: #581
• US rank: #11060

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Riviera Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 30,912
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 30,912
• Household income: $65,063
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 1838.0

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 Black (64%)
• Race & ethnicity: Black 64% White 22% Hispanic / Latino 9% Two or more races 8%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Hispanic 8% Romanian 1% Italian 1%
• Foreign-born: 21% · Canada, Jamaica
• Languages at home: 82% English-only · Spanish 8% French/Haitian/Cajun 7% 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: ▼ -153.74%
• Current HPI: 341.1761
• Rent YoY: ▼ -0.72%
• 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

+440.4% since first listed

16 events — show timeline

• 2026-04-23 Pending — Beaches MLS
• 2026-04-13 Listed $735,000 Beaches MLS
• 2025-11-19 Rental Removed $2,500 RMLSFL
• 2025-10-17 Listed for Rent $2,500 RMLSFL
• 2023-07-17 Sold (Public Records) $650,000 Public Records
• 2022-12-02 Listing Removed — Beaches MLS
• 2022-11-01 Relisted — Beaches MLS
• 2022-10-30 Listing Removed — Beaches MLS
• 2022-09-27 Price Changed $629,000 Beaches MLS
• 2022-08-04 Price Changed $642,000 Beaches MLS
• 2022-07-25 Relisted — Beaches MLS
• 2022-07-14 Pending — Beaches MLS
• 2022-07-01 Listed $650,000 Beaches MLS
• 2016-07-22 Sold (Public Records) $230,000 Public Records
• 2015-02-11 Sold (Public Records) $162,900 Public Records
• 2015-02-11 Sold (Public Records) $136,000 Public Records

Property tax history

+14.1%/yr

Latest (2025): $11,058 · -1.6% YoY. Source: county tax records.