635 48th St · West Palm Beach, FL 33407

$325,000

3 bd · 1.5 ba · 1,100 sqft · SingleFamily public records · 407 Days on market

Built 1950 5,260 sqft lot

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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 +26.2/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Single family home with huge back yard. Perfect for starting family. completely fenced. 2 bedrooms plus a Florida room. Alarm system.

Key facts

• 5,260 sq ft lot
• 2 parking spots
• Built 1950

Property features AI

Finance

• Other: Living area reported as 1,100; Building area reported as 1,280
• Financial info: Pets allowed
• HOA & community: No association amenities

Exterior

• Parking: On-street parking; 2 open parking spaces
• Security: No security features listed
• Utilities: No utilities specified
• Home design: Single-family residence; Single-story; Faces south; Resale condition
• Construction: Built with CBS construction; 1-story building
• Exterior features: Not waterfront; Lot dimensions approximately 50 ft x 105 ft

Interior

• Kitchen: Disposal; Dishwasher; Gas range; Refrigerator
• Bedrooms: 1 main-level bedroom
• Flooring: Ceramic tile flooring
• Bathrooms: 1 full bathroom; 1 half bathroom (2 total bathrooms)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No additional interior features listed
• Laundry & utility: No laundry/utility appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $834 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Recommended offer: $286k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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 (+3.1%/yr); 305 active listings in the ZIP; 28 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 $3,821/mo this rent would consume 76% of the median local household income ($60k/yr) (locally 2157% 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 $2k of loan paydown is wiped out by about $10k 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 + 3.1% rent growth), your $91k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 407 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $25k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $325k implies a 225% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $286,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 407 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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.

Investment metrics

• 1% rule: 1.18% ✓
• Cap rate: 9.37%
• Cash-on-cash: 10.99%
• DSCR: 1.49
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.08% rent growth · sell at horizon

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $756
• Equity at exit: $48,459

10-year hold

• IRR: 10.0%
• Equity multiple: 1.77×
• Total profit: $70,369
• Equity at exit: $28,100

Cash invested: $91,000 (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 33407

• Rents YoY: 3.1%
• Active inventory: 305
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $3,821 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$345 /mo · $4,140/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$802
• Net cashflow: $834

Break-even live

Break-even rent $2,766

Max offer price $325,000

Occupancy floor 73%

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5101 Spruce Ave West Palm Beach, FL	3.0	3.0	1151	$3,100	$2.69	24d	1	0.21mi
436 51st St West Palm Beach, FL	2.0	1.0	968	$3,750	$3.87	24d	1	0.24mi
424 51st St Unit 426 West Palm Beach, FL	3.0	2.0	1230	$3,500	$2.85	11d	1	0.25mi
5203 N Flagler Dr West Palm Beach, FL	3.0	1.5	1458	$6,000	$4.12	24d	1	0.31mi
5200 N Flagler Dr West Palm Beach, FL	2.0	2.0	1233	$3,375	$2.74	24d	2	0.37mi
4444 N Flagler Dr West Palm Beach, FL	2.0	2.0	1300	$4,579	$3.52	24d	1	0.37mi
5200 N Flagler Dr #2004 West Palm Beach, FL	2.0	2.0	1235	$3,800	$3.08	8d	1	0.38mi
401 42nd St West Palm Beach, FL	3.0	1.0	1100	$4,950	$4.50	24d	1	0.38mi
401 42nd St West Palm Beach, FL	3.0	1.0	1400	$4,950	$3.54	15d	1	0.38mi
517 55th St West Palm Beach, FL	2.0	2.0	1238	$4,550	$3.68	24d	1	0.40mi
510 56th St West Palm Beach, FL	2.0	1.0	1152	$3,800	$3.30	22d	1	0.43mi
5600 N Flagler Dr West Palm Beach, FL	1.0–3.0	2.0	1192	$6,000	$5.03	21d	8	0.49mi
619 37th St West Palm Beach, FL	3.0	2.0	1414	$3,350	$2.37	24d	1	0.55mi
701 37th St West Palm Beach, FL	3.0	2.0	1426	$3,600	$2.52	24d	1	0.56mi
436 38th St West Palm Beach, FL	4.0	3.0	1479	$6,500	$4.39	24d	1	0.56mi
636 35th St West Palm Beach, FL	3.0	2.0	1133	$3,500	$3.09	24d	1	0.70mi
522 W 2nd St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	24d	1	0.74mi
306 34th St West Palm Beach, FL	2.0	1.0	1443	$4,650	$3.22	24d	1	0.82mi
3410 Poinsettia Ave West Palm Beach, FL	2.0	1.0	1257	$3,350	$2.67	12d	1	0.83mi
3415 N Flagler Dr West Palm Beach, FL	2.0	2.0	1174	$9,950	$8.48	8d	1	0.87mi
517 31st St West Palm Beach, FL	2.0	1.5	1406	$3,150	$2.24	24d	1	0.91mi
932 31st St West Palm Beach, FL	3.0	2.0	850	$3,000	$3.53	24d	1	0.95mi
933 30th Ct West Palm Beach, FL	3.0	1.5	1085	$3,100	$2.86	24d	1	0.97mi
245 30th St West Palm Beach, FL	2.0	2.0	1271	$9,000	$7.08	24d	1	1.03mi
230 Colonial Ln Palm Beach, FL	2.0	2.0	1436	$20,000	$13.93	24d	1	1.18mi
2585 Spruce Ave West Palm Beach, FL	1.0–2.0	1.0–2.0	841	$3,225	$3.83	1d	122	1.32mi
65 W 16th St Apt 1 Riviera Beach, FL	4.0	2.0	1200	$3,500	$2.92	8d	1	1.45mi
65 W 16th St Apt 1 Riviera Beach, FL	4.0	2.0	1232	$3,500	$2.84	17d	1	1.45mi

Listing history 25 events

1. 2026-06-18
   days on market $325,000 Active 407 DOM
2. 2026-06-17
   days on market $325,000 Active 406 DOM
3. 2026-06-16
   days on market $325,000 Active 405 DOM
4. 2026-06-15
   days on market $325,000 Active 404 DOM
5. 2026-06-13
   days on market $325,000 Active 402 DOM
6. 2026-06-09
   days on market $325,000 Active 398 DOM
7. 2026-06-07
   days on market $325,000 Active 396 DOM
8. 2026-06-04
   days on market $325,000 Active 393 DOM
9. 2026-06-03
   days on market $325,000 Active 392 DOM
10. 2026-06-01
    days on market $325,000 Active 390 DOM
11. 2026-05-31
    days on market $325,000 Active 389 DOM
12. 2026-01-16
    price $325,000
13. 2025-12-08
    status Active
14. 2025-12-06
    historical
15. 2025-05-05
    listed $350,000 Active
16. 2022-06-28
    historical
17. 2022-03-28
    listed $330,000 Active
18. 2017-10-13
    soldstatus $99,900
19. 2017-10-02
    soldstatus $90,000
20. 2017-09-27
    soldstatus $90,000 Closed 136-char remark

    Show marketing remark (136 chars)

    Single family home with huge back yard. Perfect for starting family. completely fenced. 2 bedrooms plus a Florida room. Alarm system.

21. 2017-05-23
    historical Contingent 136-char remark

    Show marketing remark (136 chars)

    Single family home with huge back yard. Perfect for starting family. completely fenced. 2 bedrooms plus a Florida room. Alarm system.

22. 2017-05-22
    price $100,000 136-char remark

    Show marketing remark (136 chars)

    Single family home with huge back yard. Perfect for starting family. completely fenced. 2 bedrooms plus a Florida room. Alarm system.

23. 2017-04-15
    listed $149,000 Active 136-char remark

    Show marketing remark (136 chars)

    Single family home with huge back yard. Perfect for starting family. completely fenced. 2 bedrooms plus a Florida room. Alarm system.

24. 2006-09-20
    soldstatus $173,000
25. 1978-01-01
    soldstatus $28,000

ⓘ 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: $4,140 · $345/mo
• Projected year-2 tax: $4,140 · $345/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,848
• − Mortgage interest: −$18,205
• − Property taxes: −$4,140
• − Insurance: −$1,625
• − Repairs & maintenance: −$3,668
• − Management: −$3,668
• − Depreciation: −$9,455
• Taxable income: $5,088
• Est. tax owed @ 24.0%: −$1,221
• After-tax cash flow: $8,782/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): 34,851
• Household income: $59,993
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 2157.0

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 0.62)
• Race & ethnicity: Black 54% White 21% Hispanic / Latino 20% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 2%
• Common ancestry: Hispanic 8% Lithuanian 1% Romanian 1%
• Foreign-born: 26% · Canada, Vietnam, Jamaica
• Languages at home: 72% English-only · Spanish 17% French/Haitian/Cajun 8% 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: ▼ -299.26%
• Current HPI: 363.3995
• Rent YoY: ▲ 3.08%
• 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

+1060.7% since first listed

14 events — show timeline

• 2026-01-16 Price Changed $325,000 Beaches MLS
• 2025-12-08 Relisted — Beaches MLS
• 2025-12-06 Listing Removed — Beaches MLS
• 2025-05-05 Listed $350,000 Beaches MLS
• 2022-06-28 Listing Removed — Beaches MLS
• 2022-03-28 Listed $330,000 Beaches MLS
• 2017-10-13 Sold (Public Records) $99,900 Public Records
• 2017-10-02 Sold (Public Records) $90,000 Public Records
• 2017-09-27 Sold (MLS) $90,000 Beaches MLS
• 2017-05-23 Contingent — Beaches MLS
• 2017-05-22 Price Changed $100,000 Beaches MLS
• 2017-04-15 Listed $149,000 Beaches MLS
• 2006-09-20 Sold (Public Records) $173,000 Public Records
• 1978-01-01 Sold (Public Records) $28,000 Public Records

Property tax history

+13.3%/yr

Latest (2025): $4,140 · +7.6% YoY. Source: county tax records.