620 51st St #620 · West Palm Beach, FL 33407

$350,000

4 bd · 2.0 ba · 572 sqft · SingleFamily · 100 Days on market

Built 1954 Fair condition 5,149 sqft lot ↓ 11% since listing

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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 +11.7/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Rent growth +3.3/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Rare investment opportunity - single family home and cottage! Located in the up and coming Northend of West Palm Beach this investor friendly home is priced to sell and presents a rare opportunity to become a part of the Northend progress! The home and cottage are both 2/1. The main house is currently rented for $1,500. The cottage is currently rented for $1,100. Leases available upon request. Located just down the street from Northwood Village shops, and dining, less than 5 minutes to La Marina, and Safe Harbor Rybovich, and less than 10 minutes to NORA and Downtown West Palm Beach!

Key facts

• Safe harbor rybovich
• La marina
• 5,149 sq ft lot

Tags

• NORTHEND OF WEST PALM BEACH
• NORTHWOOD VILLAGE SHOPS
• LA MARINA
• SAFE HARBOR RYBOVICH
• DOWNTOWN WEST PALM BEACH

Property features AI

Finance

• Other: Pets allowed (contact listing for details)
• Financial info: No investor or rental income/expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: Two parking spaces total; Attached carport (1 covered carport space); Driveway and on-street parking available; One open parking space
• Security: No security features specified
• Utilities: Public water; Public sewer; 100 amp electric service; Cable, electricity, and sewer are connected
• Home design: Single family residence; One story; Faces north; Resale condition
• Construction: Wood frame construction; Built on a single-story structure
• Exterior features: Not waterfront; Flat roof

Interior

• Kitchen: Refrigerator included
• Bedrooms: Three bedrooms, all on the main level
• Flooring: Wood flooring
• Bathrooms: Two full bathrooms, both on the main level
• Heating & cooling: Window/wall heating; Wall/window cooling units
• Interior features: No built-in interior features specified
• Laundry & utility: No laundry or utility appliances specified

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $350k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-103 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $335k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $293k (16.2% below list).
• Recommended offer: $293k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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: West Riviera Elementary School (math 26% / reading 22%, grade F, #2,057 of 2,144 statewide, top 96%, 487 students, 83% 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 77% FRL vs 52% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 25% at this address vs 50% district-wide (-25 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; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $2,932/mo this rent would consume 59% 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.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($318k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — 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 $293,183 (16.2% 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 100 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1954 — 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. 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?
9. 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.
10. 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.
11. 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: 0.84% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.26%
• DSCR: 0.94
• GRM: 9.9

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: -18.3%
• Equity multiple: 0.36×
• Total profit: $-62,971
• Equity at exit: $52,186

10-year hold

• IRR: -10.4%
• Equity multiple: 0.37×
• Total profit: $-62,100
• Equity at exit: $30,262

Cash invested: $98,000 (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: 306
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,932 medium
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$438 /mo · $5,250/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$616
• Net cashflow: $-103

Break-even live

Break-even rent $3,062

Max offer price $335,150

Occupancy floor 98%

Sensitivity live

Price	-10% $139	-5% $18	+0% $-103	+5% $-224	+10% $-345
Rent	-10% $-334	-5% $-218	+0% $-103	+5% $13	+10% $129
Rate	-1.0pp $74	-0.5pp $-14	base $-103	+0.5pp $-193	+1.0pp $-286

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $350,000 Active 100 DOM
2. 2026-06-18
   days on market $350,000 Active 97 DOM
3. 2026-06-17
   days on market $350,000 Active 96 DOM
4. 2026-06-16
   days on market $350,000 Active 95 DOM
5. 2026-06-15
   days on market $350,000 Active 94 DOM
6. 2026-06-13
   days on market $350,000 Active 92 DOM
7. 2026-06-09
   days on market $350,000 Active 88 DOM
8. 2026-06-08
   pricedays on market $350,000 Active 87 DOM
9. 2026-06-07
   days on market $400,000 Active 86 DOM
10. 2026-06-04
    days on market $400,000 Active 83 DOM
11. 2026-06-03
    days on market $400,000 Active 82 DOM
12. 2026-06-02
    days on market $400,000 Active 81 DOM
13. 2026-06-01
    days on market $400,000 Active 80 DOM
14. 2026-05-31
    days on market $400,000 Active 79 DOM
15. 2026-04-03
    price $400,000
16. 2026-03-09
    listed $450,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $35,182
• − Mortgage interest: −$19,605
• − Property taxes: −$5,250
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,815
• − Management: −$2,815
• − Depreciation: −$10,182
• Taxable loss: −$7,234
• Est. tax savings @ 24.0%: +$1,736
• After-tax cash flow: $505/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.

Condition & rehab AI · 6 photos

Fair 45/100 Moderate rehab

This single-family home requires moderate repairs and maintenance to improve its condition and value. Key areas for attention include the roof, exterior siding, and driveway. Painting and landscaping would significantly enhance its curb appeal and value.

Repairs flagged

• Major roof — Significant wear and tear
• Major exterior siding — Peeling paint and visible wear
• Minor concrete driveway — Cracks present

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Repair driveway cracks — Improves safety and aesthetics
• Both Landscaping — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant wear and tear	Major	$15,000–50,000
exterior siding · Peeling paint and visible wear	Major	$15,000–50,000
concrete driveway · Cracks present	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Repair driveway cracks — Improves safety and aesthetics ↑
• Both Landscaping — Enhances curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-11.1% since first listed

2 events — show timeline

• 2026-04-03 Price Changed $400,000 Beaches MLS
• 2026-03-09 Listed $450,000 Beaches MLS