808 45th St · West Palm Beach, FL 33407

$399,000

3 bd · 1.0 ba · 962 sqft · SingleFamily public records · 58 Days on market

Built 1952 5,700 sqft 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 +13.0/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• DSCR +3.9/10.0
• 1% rule +3.5/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent opportunity to own this beautiful single family residence in West Palm Beach. This 3 bedroom, 1 bath home has been completely remodeled. Updates include flooring, kitchen, bathroom and windows. New roof, A/C was done in 2019. Large backyard with plenty of space for a pool or an attached addition. Also, an open porch to enclose for an opportunity to add an extra room. Nice quiet neighborhood in West Palm Beach, just a few blocks from the beach. Located close to Downtown West Palm Beach, shopping, restaurants and more. No HOA. Move right in and start living the lifestyle you’ve been dreaming of. Your perfect home awaits!

Key facts

• Fully renovated
• Open porch
• 5,700 sq ft lot

Tags

• FULLY RENOVATED
• GENEROUSLY SIZED BACKYARD
• OPEN PORCH
• MINUTES FROM THE BEACH
• EASY ACCESS TO SHOPPING

Property features AI

Exterior

• Parking: Covered carport for 2 cars; Covered parking; Circular driveway
• Utilities: Public water; Public sewer; Electric service with fuses
• Home design: Single-story; Faces south; Resale property
• Construction: Block construction; Shingle roof
• Exterior features: Fence; City street frontage; Less than quarter acre lot

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: First-floor entry; Attic
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $399k.

Deal economics

• At list price, monthly cash flow is $-22 ($-264/yr) — negative.
• To cash-flow at today's rent, offer at most $395k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $340k (14.7% below list).
• Recommended offer: $340k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• Zoned schools: Northmore Elementary School (math 34% / reading 29%, grade F, #1,841 of 2,144 statewide, top 86%, 628 students, 73% FRL); John F. Kennedy Middle School (math 28% / reading 29%, grade F, #482 of 571 statewide, top 85%, 826 students, 78% FRL); Palm Beach Lakes High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 2,688 students, 70% FRL) — zoned schools average 74% FRL vs 52% district-wide (22 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 rising (+3.1%/yr); 306 active listings in the ZIP; 6 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 $3,403/mo this rent would consume 68% 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 $3k of loan paydown is wiped out by about $12k 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 58 days — a 3% lower offer ($387k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $340,265 (14.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1952 — 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. 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 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: 0.85% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.24%
• DSCR: 0.99
• GRM: 9.8

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: -16.6%
• Equity multiple: 0.41×
• Total profit: $-65,760
• Equity at exit: $59,492

10-year hold

• IRR: -8.2%
• Equity multiple: 0.48×
• Total profit: $-57,849
• Equity at exit: $34,498

Cash invested: $111,720 (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: 306
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $3,403 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$451 /mo · $5,417/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$715
• Net cashflow: $-22

Break-even live

Break-even rent $3,430

Max offer price $395,114

Occupancy floor 96%

Sensitivity live

Price	-10% $204	-5% $91	+0% $-22	+5% $-135	+10% $-248
Rent	-10% $-291	-5% $-156	+0% $-22	+5% $112	+10% $247
Rate	-1.0pp $179	-0.5pp $79	base $-22	+0.5pp $-125	+1.0pp $-231

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 42nd St West Palm Beach, FL	3.0	1.0	1100	$4,950	$4.50	26d	1	0.51mi
436 51st St West Palm Beach, FL	2.0	1.0	968	$3,750	$3.87	26d	1	0.52mi
932 31st St West Palm Beach, FL	3.0	2.0	850	$3,000	$3.53	26d	1	0.75mi
933 30th Ct West Palm Beach, FL	3.0	1.5	1085	$3,100	$2.86	26d	1	0.77mi
522 W 2nd St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	26d	1	0.84mi
2585 Spruce Ave West Palm Beach, FL	1.0–2.0	1.0–2.0	841	$3,225	$3.83	1d	116	1.24mi

Listing history 25 events

1. 2026-06-21
   days on market $399,000 Active 58 DOM
2. 2026-06-18
   days on market $399,000 Active 55 DOM
3. 2026-06-17
   days on market $399,000 Active 54 DOM
4. 2026-06-16
   days on market $399,000 Active 53 DOM
5. 2026-06-15
   days on market $399,000 Active 52 DOM
6. 2026-06-13
   days on market $399,000 Active 50 DOM
7. 2026-06-09
   days on market $399,000 Active 46 DOM
8. 2026-06-08
   days on market $399,000 Active 45 DOM
9. 2026-06-07
   days on market $399,000 Active 44 DOM
10. 2026-06-04
    days on market $399,000 Active 41 DOM
11. 2026-06-03
    days on market $399,000 Active 40 DOM
12. 2026-06-02
    days on market $399,000 Active 39 DOM
13. 2026-06-01
    days on market $399,000 Active 38 DOM
14. 2026-05-31
    days on market $399,000 Active 37 DOM
15. 2026-04-24
    listed $399,000 Active
16. 2024-03-27
    soldstatus $350,000
17. 2024-03-22
    soldstatus $350,000 Closed 642-char remark

    Show marketing remark (642 chars)

    Excellent opportunity to own this beautiful single family residence in West Palm Beach. This 3 bedroom, 1 bath home has been completely remodeled. Updates include flooring, kitchen, bathroom and windows. New roof, A/C was done in 2019. Large backyard with plenty of space for a pool or an attached addition. Also, an open porch to enclose for an opportunity to add an extra room. Nice quiet neighborhood in West Palm Beach, just a few blocks from the beach. Located close to Downtown West Palm Beach, shopping, restaurants and more. No HOA. Move right in and start living the lifestyle you’ve been dreaming of. Your perfect home awaits!

18. 2024-02-12
    historical Active Under Contract 642-char remark

    Show marketing remark (642 chars)

    Excellent opportunity to own this beautiful single family residence in West Palm Beach. This 3 bedroom, 1 bath home has been completely remodeled. Updates include flooring, kitchen, bathroom and windows. New roof, A/C was done in 2019. Large backyard with plenty of space for a pool or an attached addition. Also, an open porch to enclose for an opportunity to add an extra room. Nice quiet neighborhood in West Palm Beach, just a few blocks from the beach. Located close to Downtown West Palm Beach, shopping, restaurants and more. No HOA. Move right in and start living the lifestyle you’ve been dreaming of. Your perfect home awaits!

19. 2024-02-06
    price $369,000 642-char remark

    Show marketing remark (642 chars)

    Excellent opportunity to own this beautiful single family residence in West Palm Beach. This 3 bedroom, 1 bath home has been completely remodeled. Updates include flooring, kitchen, bathroom and windows. New roof, A/C was done in 2019. Large backyard with plenty of space for a pool or an attached addition. Also, an open porch to enclose for an opportunity to add an extra room. Nice quiet neighborhood in West Palm Beach, just a few blocks from the beach. Located close to Downtown West Palm Beach, shopping, restaurants and more. No HOA. Move right in and start living the lifestyle you’ve been dreaming of. Your perfect home awaits!

20. 2024-01-17
    listed $399,000 Active 642-char remark

    Show marketing remark (642 chars)

    Excellent opportunity to own this beautiful single family residence in West Palm Beach. This 3 bedroom, 1 bath home has been completely remodeled. Updates include flooring, kitchen, bathroom and windows. New roof, A/C was done in 2019. Large backyard with plenty of space for a pool or an attached addition. Also, an open porch to enclose for an opportunity to add an extra room. Nice quiet neighborhood in West Palm Beach, just a few blocks from the beach. Located close to Downtown West Palm Beach, shopping, restaurants and more. No HOA. Move right in and start living the lifestyle you’ve been dreaming of. Your perfect home awaits!

21. 2023-07-14
    soldstatus $232,000
22. 2023-07-05
    soldstatus $210,000 Closed 255-char remark

    Show marketing remark (255 chars)

    Investors get excited! 3 bedroom 1 bath with cosmetic repairs needed like flooring, bathroom, and landscaping. The roof and AC are in good condition. With a circle driveway, carport and large backyard, once this is updated it will make a great investment.

23. 2023-01-17
    status Pending 255-char remark

    Show marketing remark (255 chars)

    Investors get excited! 3 bedroom 1 bath with cosmetic repairs needed like flooring, bathroom, and landscaping. The roof and AC are in good condition. With a circle driveway, carport and large backyard, once this is updated it will make a great investment.

24. 2023-01-12
    listed $200,000 Active 255-char remark

    Show marketing remark (255 chars)

    Investors get excited! 3 bedroom 1 bath with cosmetic repairs needed like flooring, bathroom, and landscaping. The roof and AC are in good condition. With a circle driveway, carport and large backyard, once this is updated it will make a great investment.

25. 1989-02-02
    soldstatus $28,700

ⓘ 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: $5,417 · $451/mo
• Projected year-2 tax: $5,417 · $451/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 · 25 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: $40,832
• − Mortgage interest: −$22,350
• − Property taxes: −$5,417
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,267
• − Management: −$3,267
• − Depreciation: −$11,607
• Taxable loss: −$7,071
• Est. tax savings @ 24.0%: +$1,697
• After-tax cash flow: $1,433/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

+1290.2% since first listed

11 events — show timeline

• 2026-04-24 Listed $399,000 MARMLS
• 2024-03-27 Sold (Public Records) $350,000 Public Records
• 2024-03-22 Sold (MLS) $350,000 MARMLS
• 2024-02-12 Contingent — MARMLS
• 2024-02-06 Price Changed $369,000 MARMLS
• 2024-01-17 Listed $399,000 MARMLS
• 2023-07-14 Sold (Public Records) $232,000 Public Records
• 2023-07-05 Sold (MLS) $210,000 MARMLS
• 2023-01-17 Pending — MARMLS
• 2023-01-12 Listed $200,000 MARMLS
• 1989-02-02 Sold (Public Records) $28,700 Public Records

Property tax history

+15.7%/yr

Latest (2025): $5,417 · +4.0% YoY. Source: county tax records.