5965 Caribbean Blvd · Riviera Beach, FL 33407

$279,900

2 bd · 1.0 ba · 950 sqft · SingleFamily public records · 20 Days on market

Built 1978 3,210 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 +13.6/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• 1% rule +4.1/10.0
• DSCR +4.1/10.0
• Livability +3.4/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

NEWER METAL ROOF AND ALMOST ALL IMPACT WINDOWS! Welcome to this charming villa in Gramercy Park Unit 5, located in West Palm Beach, FL. This single-story residence offers 950 square feet of finished living space with two bedrooms and one bathroom, providing an efficient and comfortable layout. The villa design delivers practical living in an established community setting. This property presents an excellent opportunity to be near major roads, shopping highways and more

Key facts

• 3,210 sq ft lot
• 2 parking spots
• Built 1978

Property features AI

Finance

• Other: Pets allowed (cats and dogs, no restrictions)

Exterior

• Parking: Driveway with two open parking spaces
• Utilities: Public water; Public sewer; Cable available; Electricity connected; Phone available; Sewer connected; Water connected
• Home design: Villa; Single-story; Faces southeast; Resale property; City street frontage
• Construction: Concrete block with stucco construction; Metal roof; Built as a 1-story structure
• Exterior features: Shed(s); Located on a cul-de-sac; Zero lot line

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: Two bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No notable built-in interior features listed; Unfurnished
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $18 ($210/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $254k (9.2% below list).
• Recommended offer: $254k (9.2% below list) — sets the bar for 1% rule.

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: Grove Park Elementary School (math 33% / reading 33%, grade F, #1,773 of 2,144 statewide, top 83%, 511 students, 79% 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 76% FRL vs 52% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% 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; 1 comparable units currently listed for rent nearby; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $2,541/mo this rent would consume 51% 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 $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 20 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $46k; list at $280k implies a 502% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $254,142 (9.2% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.91% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• GRM: 9.2

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: -15.8%
• Equity multiple: 0.44×
• Total profit: $-43,963
• Equity at exit: $41,734

10-year hold

• IRR: -7.1%
• Equity multiple: 0.54×
• Total profit: $-35,710
• Equity at exit: $24,201

Cash invested: $78,372 (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: 9.2×

Monthly cashflow live

• Estimated rent: $2,541 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$406 /mo · $4,869/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$534
• Net cashflow: $18

Break-even live

Break-even rent $2,519

Max offer price $279,900

Occupancy floor 94%

Sensitivity live

Price	-10% $176	-5% $97	+0% $18	+5% $-62	+10% $-141
Rent	-10% $-183	-5% $-83	+0% $18	+5% $118	+10% $218
Rate	-1.0pp $158	-0.5pp $89	base $18	+0.5pp $-55	+1.0pp $-129

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3590 Village Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1074	$2,785	$2.59	1d	30	1.41mi

Listing history 15 events

1. 2026-06-21
   days on market $279,900 Active 20 DOM
2. 2026-06-18
   days on market $279,900 Active 17 DOM
3. 2026-06-17
   days on market $279,900 Active 16 DOM
4. 2026-06-16
   days on market $279,900 Active 15 DOM
5. 2026-06-15
   days on market $279,900 Active 14 DOM
6. 2026-06-13
   days on market $279,900 Active 12 DOM
7. 2026-06-09
   days on market $279,900 Active 8 DOM
8. 2026-06-08
   days on market $279,900 Active 7 DOM
9. 2026-06-07
   remarks 473-char remark
10. 2026-06-07
    days on market $279,900 Active 6 DOM
11. 2026-06-04
    days on market $279,900 Active 3 DOM
12. 2026-06-03
    days on market $279,900 Active 2 DOM
13. 2026-06-02
    remarks 276-char remark
14. 2026-06-02
    remarks 155-char remark
15. 2026-06-02
    listed $279,900 Active 1 DOM

ⓘ 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: $4,869 · $406/mo
• Projected year-2 tax: $4,869 · $406/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 2/10 Low FEMA zone X (unshaded) · 7% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $30,497
• − Mortgage interest: −$15,679
• − Property taxes: −$4,869
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,440
• − Management: −$2,440
• − Depreciation: −$8,143
• Taxable loss: −$4,472
• Est. tax savings @ 24.0%: +$1,073
• After-tax cash flow: $1,283/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

• County: Palm Beach County · 1,438,312 people
• City population: 30,912
• 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

+501.9% since first listed

2 events — show timeline

• 2026-06-01 Listed $279,900 Beaches MLS
• 2000-11-27 Sold (Public Records) $46,500 Public Records

Property tax history

+11.2%/yr

Latest (2025): $4,869 · +1.6% YoY. Source: county tax records.