3268 Mirella Dr · Riviera Beach, FL 33404

$265,000

2 bd · 2.5 ba · 1,199 sqft · Townhouse public records · 112 Days on market

Built 2006 849 sqft lot $390/mo HOA · 12% of rent

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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 +17.4/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• DSCR +5.4/10.0
• 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

Listing remarks MLS

Fabulous Townhouse in Villa Rosa. Community close to everything. Two suites with 1 car garage. Low HOA The Community offers beautiful pools and other amenities Call today to schedule your showing and bring us an offer

Key facts

• Gated community
• Community pool
• Large island

Tags

• GATED COMMUNITY
• PRIVATE PAVED PATIO
• COMMUNITY POOL
• CLUBHOUSE OVERLOOKING LAKE
• NEW LAMINATE FLOORING
• LARGE ISLAND

Property features AI

Finance

• Other: Pets allowed (with number limit)
• HOA & community: Monthly HOA ($390) covering insurance, grounds maintenance, security, sewer, trash and common areas; Community clubhouse, playground and pool

Exterior

• Parking: Attached garage (1 covered space); On-street parking
• Security: Closed-circuit camera system; Gated community (no guard)
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Townhouse; Two-story; Entry level living area; Faces south
• Construction: Built with CBS construction; Barrel roof
• Exterior features: Open patio; Patio

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Electric water heater
• Bedrooms: No main-level bedrooms
• Flooring: Laminate flooring
• Bathrooms: Two full bathrooms and one half bathroom (three total)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Entrance foyer; Kitchen island; Walk-in closet(s); Blinds and drapes
• Laundry & utility: Laundry closet inside the unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $265k.

Deal economics

• At list price, monthly cash flow is $198 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $241k (9.0% 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: Washington Elementary Magnet School (math 42% / reading 37%, grade F, #1,513 of 2,144 statewide, top 73%, 253 students, 85% FRL); John F. Kennedy Middle School (math 28% / reading 29%, grade F, #482 of 571 statewide, top 85%, 826 students, 78% 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 32% at this address vs 50% district-wide (-17 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; 7 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 $3,158/mo this rent would consume 58% 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 $2k of loan paydown is wiped out by about $8k 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 112 days — a 9% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $34k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; list at $265k implies a 112% gain — meaningful room to come down on a strong offer.

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 $241,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.19% ✓
• Cap rate: 7.19%
• Cash-on-cash: 3.20%
• DSCR: 1.14
• GRM: 7.0

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: -15.4%
• Equity multiple: 0.47×
• Total profit: $-39,257
• Equity at exit: $39,512

10-year hold

• IRR: -14.9%
• Equity multiple: 0.29×
• Total profit: $-52,361
• Equity at exit: $22,912

Cash invested: $74,200 (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: 7.0×

Monthly cashflow live

• Estimated rent: $3,158 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$407 /mo · $4,879/yr
• Insurance: −$110
• HOA: −$390
• Vacancy / Maint / Mgmt: −$663
• Net cashflow: $198

Break-even live

Break-even rent $2,907

Max offer price $265,000

Occupancy floor 89%

Sensitivity live

Price	-10% $348	-5% $273	+0% $198	+5% $123	+10% $48
Rent	-10% $-52	-5% $73	+0% $198	+5% $323	+10% $447
Rate	-1.0pp $331	-0.5pp $265	base $198	+0.5pp $129	+1.0pp $59

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
855 Date Palm Dr West Palm Beach, FL	3.0	3.0	1216	$3,150	$2.59	26d	1	0.89mi
901 W 37th St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	26d	1	0.95mi
8731 Uranus Ter West Palm Beach, FL	2.0	1.0	900	$3,200	$3.56	26d	1	1.15mi
321 Sandtree Dr Palm Beach Gardens, FL	3.0	2.5	1480	$3,000	$2.03	26d	1	1.20mi
321 Sandtree Dr Palm Beach Gardens, FL	3.0	2.5	1480	$3,000	$2.03	12d	1	1.20mi
520 W 28th St Riviera Beach, FL	3.0	1.0	1296	$6,000	$4.63	4d	1	1.31mi
1401 W 9th St Riviera Beach, FL	3.0	2.0	1304	$3,200	$2.45	26d	1	1.45mi

HOA detail

• Monthly dues: $390 · $4,680/yr
• Likely covers: pool

Listing history 25 events

1. 2026-06-21
   pricedays on market $265,000 Active 112 DOM
2. 2026-06-18
   days on market $279,000 Active 109 DOM
3. 2026-06-17
   days on market $279,000 Active 108 DOM
4. 2026-06-16
   days on market $279,000 Active 107 DOM
5. 2026-06-15
   days on market $279,000 Active 106 DOM
6. 2026-06-13
   statusdays on market $279,000 Active 104 DOM
7. 2026-06-09
   days on market $279,000 Active Under Contract 100 DOM
8. 2026-06-08
   days on market $279,000 Active Under Contract 99 DOM
9. 2026-06-07
   statusdays on market $279,000 Active Under Contract 98 DOM
10. 2026-06-04
    days on market $279,000 Active 95 DOM
11. 2026-06-03
    days on market $279,000 Active 94 DOM
12. 2026-06-02
    days on market $279,000 Active 93 DOM
13. 2026-06-01
    days on market $279,000 Active 92 DOM
14. 2026-05-31
    days on market $279,000 Active 91 DOM
15. 2026-04-04
    price $279,000
16. 2026-03-01
    listed $299,000 Active
17. 2019-01-16
    soldstatus $125,000
18. 2019-01-15
    soldstatus $125,000 Closed 225-char remark

    Show marketing remark (225 chars)

    Fabulous Townhouse in Villa Rosa. Community close to everything. Two suites with 1 car garage. Low HOA The Community offers beautiful pools and other amenities Call today to schedule your showing and bring us an offer

19. 2019-01-02
    historical Active Under Contract 225-char remark

    Show marketing remark (225 chars)

    Fabulous Townhouse in Villa Rosa. Community close to everything. Two suites with 1 car garage. Low HOA The Community offers beautiful pools and other amenities Call today to schedule your showing and bring us an offer

20. 2018-07-02
    listed $139,000 Active 225-char remark

    Show marketing remark (225 chars)

    Fabulous Townhouse in Villa Rosa. Community close to everything. Two suites with 1 car garage. Low HOA The Community offers beautiful pools and other amenities Call today to schedule your showing and bring us an offer

21. 2010-02-16
    soldstatus $65,000 317-char remark

    Show marketing remark (317 chars)

    FABULOUS TOWNHOUSE IN VILLA ROSA - POND VIEW, DON'T MISS SHOWING THIS GEM AND SELLING IT! SUBJECT TO THIRD PARTY APPROVAL THIS IS A GREAT TOWNHOUSE IN VILLA ROSA COMMUNITY, CLOSE TO EVERYTHING YOU CAN IMAGINE. TWO SUITES WITH 1 CAR GARAGE AND FACING A POND. CALL TODAY TO SCHEDULE YOUR SHOWINGS AND BRING US AN OFFER!

22. 2010-02-01
    historical 317-char remark

    Show marketing remark (317 chars)

    FABULOUS TOWNHOUSE IN VILLA ROSA - POND VIEW, DON'T MISS SHOWING THIS GEM AND SELLING IT! SUBJECT TO THIRD PARTY APPROVAL THIS IS A GREAT TOWNHOUSE IN VILLA ROSA COMMUNITY, CLOSE TO EVERYTHING YOU CAN IMAGINE. TWO SUITES WITH 1 CAR GARAGE AND FACING A POND. CALL TODAY TO SCHEDULE YOUR SHOWINGS AND BRING US AN OFFER!

23. 2009-04-27
    listed $70,000 317-char remark

    Show marketing remark (317 chars)

    FABULOUS TOWNHOUSE IN VILLA ROSA - POND VIEW, DON'T MISS SHOWING THIS GEM AND SELLING IT! SUBJECT TO THIRD PARTY APPROVAL THIS IS A GREAT TOWNHOUSE IN VILLA ROSA COMMUNITY, CLOSE TO EVERYTHING YOU CAN IMAGINE. TWO SUITES WITH 1 CAR GARAGE AND FACING A POND. CALL TODAY TO SCHEDULE YOUR SHOWINGS AND BRING US AN OFFER!

24. 2008-04-15
    historical
25. 2007-09-15
    listed $230,000

ⓘ 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: $4,879 · $407/mo
• Projected year-2 tax: $4,879 · $407/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: $37,893
• − Mortgage interest: −$14,844
• − Property taxes: −$4,879
• − Insurance: −$1,325
• − Repairs & maintenance: −$3,031
• − Management: −$3,031
• − HOA: −$4,680
• − Depreciation: −$7,709
• Taxable loss: −$1,607
• Est. tax savings @ 24.0%: +$386
• After-tax cash flow: $2,761/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

+21.3% since first listed

11 events — show timeline

• 2026-04-04 Price Changed $279,000 Beaches MLS
• 2026-03-01 Listed $299,000 Beaches MLS
• 2019-01-16 Sold (Public Records) $125,000 Public Records
• 2019-01-15 Sold (MLS) $125,000 Beaches MLS
• 2019-01-02 Contingent — Beaches MLS
• 2018-07-02 Listed $139,000 Beaches MLS
• 2010-02-16 Sold (MLS) $65,000 Beaches MLS
• 2010-02-01 Listing Removed — Beaches MLS
• 2009-04-27 Listed $70,000 Beaches MLS
• 2008-04-15 Listing Removed — Beaches MLS
• 2007-09-15 Listed $230,000 Beaches MLS

Property tax history

+6.8%/yr

Latest (2025): $4,879 · +5.3% YoY. Source: county tax records.