1992 Alamanda Way #1992 · Riviera Beach, FL 33404

$239,000

2 bd · 2.5 ba · 1,227 sqft · Townhouse · 99 Days on market

Built 2006 $452/mo HOA · 15% of rent

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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 +19.8/30.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 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

SELLER FINANCING WITH EXCELLENT TERMS! PRICE IMPROVEMENT!! This lovely townhome is move-in ready! It offers a functional open floor plan, sunny kitchen with newer SS appliances, spacious living/dining area, half bath, and private patio with storage closet. The upstairs features two ensuite bedrooms and a third open bedroom that can be used as an office or playroom. Sonoma Bay has so much to offer! A resort-style pool and spa, clubhouse with kitchen, fitness center, tennis and basketball court, playground, and ample parking. Close to the beach, boating, shopping and dining. Easy to rent. GREAT INVESTMENT OPPORTUNITY!!

Key facts

• Open floor plan
• Ensuite bedrooms
• Fitness center

Tags

• OPEN FLOOR PLAN
• SUNNY KITCHEN
• PRIVATE PATIO
• ENSUITE BEDROOMS
• RESORT STYLE POOL
• FITNESS CENTER

Property features AI

Finance

• Financial info: Community of 302 units; Pets allowed with restrictions (breed, number, and size limits)
• HOA & community: Part of Sonoma Bay association; Monthly HOA fee (paid monthly); Community amenities include basketball court, clubhouse, fitness center, playground, parking, pool, and spa/hot tub; HOA fee covers insurance, sewer, common areas, reserves, roof repairs, and recreation facility

Exterior

• Parking: Assigned parking; Guest parking (1 open space total)
• Security: Smoke detectors; Security fence; Entry phone/intercom; Security gate (gated community, no guard)
• Utilities: Public water; Public sewer; Cable available; Electricity available
• Home design: Townhouse; Two levels; First-floor entry; South-facing
• Construction: Stucco and concrete block (CBS) construction; Tile roof; Block foundation; Built as Alamanda model
• Exterior features: Open patio; Patio; Cul-de-sac lot; Paved, privately maintained road; Not waterfront

Interior

• Kitchen: Electric range; Dishwasher; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Bedrooms: No main-level bedrooms
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 2 full bathrooms and 1 half bathroom
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Entrance foyer; High ceilings; Split bedroom layout; Upstairs living area
• Laundry & utility: In-unit laundry; Laundry closet in kitchen on main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $239k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $239k).
• Recommended offer: $217k (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; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $3,021/mo this rent would consume 56% 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 $7k 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 99 days — a 9% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 11y ago; this cycle's ask has dropped $26k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $117k; list at $239k implies a 104% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $217,490 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 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. 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: 1.26% ✓
• Cap rate: 7.72%
• Cash-on-cash: 5.08%
• DSCR: 1.23
• GRM: 6.6

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: -12.5%
• Equity multiple: 0.56×
• Total profit: $-29,220
• Equity at exit: $35,636

10-year hold

• IRR: -10.4%
• Equity multiple: 0.48×
• Total profit: $-35,121
• Equity at exit: $20,664

Cash invested: $66,920 (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: 6.6×

Monthly cashflow live

• Estimated rent: $3,021 high
• Mortgage (P&I): −$1,253
• Tax est. 1.5%: −$299 /mo · $3,585/yr
• Insurance: −$100
• HOA: −$452
• Vacancy / Maint / Mgmt: −$634
• Net cashflow: $283

Break-even live

Break-even rent $2,663

Max offer price $239,000

Occupancy floor 86%

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8731 Uranus Ter West Palm Beach, FL	2.0	1.0	900	$3,200	$3.56	24d	1	0.91mi
855 Date Palm Dr West Palm Beach, FL	3.0	3.0	1216	$3,150	$2.59	24d	1	0.93mi
321 Sandtree Dr Palm Beach Gardens, FL	3.0	2.5	1480	$3,000	$2.03	24d	1	0.96mi
321 Sandtree Dr Palm Beach Gardens, FL	3.0	2.5	1480	$3,000	$2.03	10d	1	0.96mi
901 W 37th St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	24d	1	1.07mi
4289 S Mary Cir Palm Beach Gardens, FL	2.0	2.0	1246	$2,850	$2.29	24d	1	1.42mi
2545 Conroy Dr West Palm Beach, FL	3.0	2.0	1066	$3,295	$3.09	24d	1	1.43mi
9000 Woodbine Trl Riviera Beach, FL	1.0–3.0	1.0–2.0	1031	$2,360	$2.29	1d	1	1.46mi
520 W 28th St Riviera Beach, FL	3.0	1.0	1296	$6,000	$4.63	2d	1	1.49mi

HOA detail

• Monthly dues: $452 · $5,424/yr
• Likely covers: poolgym

Listing history 38 events

1. 2026-06-18
   days on market $239,000 Active 99 DOM
2. 2026-06-17
   days on market $239,000 Active 98 DOM
3. 2026-06-16
   days on market $239,000 Active 97 DOM
4. 2026-06-15
   days on market $239,000 Active 96 DOM
5. 2026-06-13
   days on market $239,000 Active 94 DOM
6. 2026-06-09
   days on market $239,000 Active 90 DOM
7. 2026-06-08
   days on market $239,000 Active 89 DOM
8. 2026-06-07
   days on market $239,000 Active 88 DOM
9. 2026-06-04
   days on market $239,000 Active 85 DOM
10. 2026-06-03
    days on market $239,000 Active 84 DOM
11. 2026-06-02
    days on market $239,000 Active 83 DOM
12. 2026-06-01
    days on market $239,000 Active 82 DOM
13. 2026-05-31
    days on market $239,000 Active 81 DOM
14. 2026-05-06
    price $239,000
15. 2026-04-04
    price $249,000
16. 2026-03-12
    price $257,500
17. 2026-02-23
    listed $265,000 Active
18. 2026-01-01
    historical $2,000
19. 2025-11-21
    listed $2,000
20. 2021-01-11
    soldstatus $117,000 Closed
21. 2020-12-27
    status Pending
22. 2020-12-22
    historical
23. 2020-12-22
    historical
24. 2020-12-22
    listed $124,000 Active
25. 2020-09-01
    historical Contingent
26. 2020-08-28
    price $124,000
27. 2020-08-24
    listed $117,000 Active
28. 2020-05-23
    historical Contingent
29. 2020-05-13
    price $117,000
30. 2020-02-08
    listed $130,000 Active
31. 2019-01-24
    soldstatus $117,000 Sold
32. 2019-01-17
    status Pending
33. 2018-11-08
    status Active
34. 2018-10-18
    status Pending
35. 2018-09-05
    price $129,900
36. 2018-08-03
    listed $134,900 Active
37. 2015-07-14
    historical
38. 2015-04-24
    listed $119,995 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 ≥106°F today · 22 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: $36,257
• − Mortgage interest: −$13,388
• − Property taxes: −$3,585
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,901
• − Management: −$2,901
• − HOA: −$5,424
• − Depreciation: −$6,953
• Taxable loss: −$89
• Est. tax savings @ 24.0%: +$21
• After-tax cash flow: $3,420/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

+99.2% since first listed

25 events — show timeline

• 2026-05-06 Price Changed $239,000 Beaches MLS
• 2026-04-04 Price Changed $249,000 Beaches MLS
• 2026-03-12 Price Changed $257,500 Beaches MLS
• 2026-02-23 Listed $265,000 Beaches MLS
• 2026-01-01 Rental Removed $2,000 SHOWMOJO
• 2025-11-21 Listed for Rent $2,000 SHOWMOJO
• 2021-01-11 Sold (MLS) $117,000 Beaches MLS
• 2020-12-27 Pending — Beaches MLS
• 2020-12-22 Listing Removed — Beaches MLS
• 2020-12-22 Listing Removed — Beaches MLS
• 2020-12-22 Listed $124,000 Beaches MLS
• 2020-09-01 Contingent — Beaches MLS
• 2020-08-28 Price Changed $124,000 Beaches MLS
• 2020-08-24 Listed $117,000 Beaches MLS
• 2020-05-23 Contingent — Beaches MLS
• 2020-05-13 Price Changed $117,000 Beaches MLS
• 2020-02-08 Listed $130,000 Beaches MLS
• 2019-01-24 Sold (MLS) $117,000 MARMLS
• 2019-01-17 Pending — MARMLS
• 2018-11-08 Relisted — MARMLS
• 2018-10-18 Pending — MARMLS
• 2018-09-05 Price Changed $129,900 MARMLS
• 2018-08-03 Listed $134,900 MARMLS
• 2015-07-14 Listing Removed — MARMLS
• 2015-04-24 Listed $119,995 MARMLS