180 W 15th St · Riviera Beach, FL 33404

$450,000

None bd · 4.0 ba · 1,467 sqft · MultiFamily · 129 Days on market

Built 1931

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Well-maintained detached duplex near Riviera Beach Marina, offering strong investment potential. This property features new stucco, fresh interior and exterior paint, impact windows, tankless water heater, and central A/C in both units. Each unit includes a renovated kitchen and functional layout, providing reliable rental appeal. The duplex consists of two units (3/1 and 2/1) and is ideally located just minutes from the beach. Excellent opportunity for investors seeking steady income or owner-occupants looking to offset expenses. Approximate gross annual income: $43,500

Key facts

• Built 1931
• Listed 129 days

Property features AI

Finance

• Financial info: Two total units; Gross income reported at $435,000; Net operating income reported at $31,559
• HOA & community: No association amenities

Exterior

• Utilities: Public water; Public sewer; Three-phase electric; Sewer and water available
• Home design: Duplex; Resale property; West of US-1 frontage
• Construction: Frame and stucco construction; Composition roof; Total building area approximately 1,467 (source: Other)
• Exterior features: Fenced yard; Room for pool

Interior

• Flooring: Laminate
• Bathrooms: 2 total bathrooms
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Laminate flooring

What this means for you Summary

Snapshot

• This is a 1×3bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $450k).
• Recommended offer: $396k (12.0% 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.
• Market conditions: Rents soft (-0.7%/yr); 506 active listings in the ZIP; 40 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 $6,943/mo this rent would consume 128% 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 $3k of loan paydown is wiped out by about $14k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $126k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($396k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 24y 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.
• Current owner paid $305k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• 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 $396,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1931 — 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. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.54% ✓
• Cap rate: 12.63%
• Cash-on-cash: 22.62%
• DSCR: 2.01
• GRM: 5.4

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: 12.1%
• Equity multiple: 1.46×
• Total profit: $58,111
• Equity at exit: $67,096

10-year hold

• IRR: 18.5%
• Equity multiple: 2.33×
• Total profit: $167,181
• Equity at exit: $38,908

Cash invested: $126,000 (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 33404

• Home prices YoY: -31.1%
• Rents YoY: -0.7%
• Active inventory: 506
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $6,943 medium
• Mortgage (P&I): −$2,360
• Tax est. 1.5%: −$562 /mo · $6,750/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,458
• Net cashflow: $2,375

Break-even live

Break-even rent $3,937

Max offer price $450,000

Occupancy floor 61%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1	$3,111
1× unit	2	1	$3,832
Total (2 units)			$6,943

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
158 E 23rd St Riviera Beach, FL	2.0	2.0	1110	$2,900	$2.61	24d	1	0.52mi
158 E 23rd St Riviera Beach, FL	2.0	2.0	1110	$2,900	$2.61	22d	1	0.52mi
520 W 28th St Riviera Beach, FL	3.0	1.0	1296	$6,000	$4.63	2d	1	0.70mi
522 W 2nd St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	24d	1	0.77mi
2650 Lake Shore Dr #804 Riviera Beach, FL	3.0	3.5	1704	$4,500	$2.64	24d	1	0.80mi
2650 Lake Shore Dr #2403 Riviera Beach, FL	3.0	3.0	1788	$6,000	$3.36	24d	1	0.80mi
2650 Lake Shore Dr #1001 Riviera Beach, FL	2.0	2.0	1742	$3,800	$2.18	24d	1	0.80mi
2650 Lake Shore Dr #1003 Riviera Beach, FL	3.0	3.0	1788	$4,200	$2.35	24d	1	0.80mi
2650 Lake Shore Dr #803 Riviera Beach, FL	3.0	3.0	1800	$5,000	$2.78	24d	1	0.80mi
2650 Lake Shore Dr #2303 Riviera Beach, FL	3.0	3.0	1537	$4,950	$3.22	24d	1	0.80mi
2650 Lake Shore Dr #1203 Riviera Beach, FL	3.0	3.0	1803	$4,250	$2.36	24d	1	0.80mi
2640 Lake Shore Dr Riviera Beach, FL	3.0	3.0	1715	$5,500	$3.21	24d	1	0.82mi
2640 Lake Shore Dr #2312 Riviera Beach, FL	2.0	2.0	1818	$6,500	$3.58	24d	1	0.82mi
2640 Lake Shore Dr #1716 Riviera Beach, FL	3.0	3.0	1538	$9,500	$6.18	24d	1	0.82mi
2640 Lake Shore Dr #711 Riviera Beach, FL	3.0	3.0	1848	$5,500	$2.98	24d	1	0.82mi
410 Wilma Cir #103 Riviera Beach, FL	2.0	2.0	1056	$4,000	$3.79	14d	1	0.85mi
360 Wilma Cir #7 Riviera Beach, FL	3.0	2.0	1590	$4,500	$2.83	24d	1	0.87mi
510 56th St West Palm Beach, FL	2.0	1.0	1152	$3,800	$3.30	22d	1	1.07mi
517 55th St West Palm Beach, FL	2.0	2.0	1238	$4,550	$3.68	24d	1	1.09mi
1401 W 9th St Riviera Beach, FL	3.0	2.0	1304	$3,200	$2.45	24d	1	1.09mi
5600 N Flagler Dr West Palm Beach, FL	1.0–3.0	2.0	1192	$4,500	$3.77	20d	8	1.15mi
220 Lake Dr #206 Palm Beach Shores, FL	2.0	2.0	1241	$4,000	$3.22	12d	1	1.21mi
901 W 37th St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	24d	1	1.23mi
314 Inlet Way #303 Palm Beach Shores, FL	3.0	2.5	1702	$6,750	$3.97	10d	1	1.26mi
314 Inlet Way #201 Palm Beach Shores, FL	3.0	2.5	1694	$6,000	$3.54	24d	1	1.26mi
220 Lake Shore Dr Lake Park, FL	1.0–3.0	1.5–3.5	1575	$14,498	$9.20	4d	18	1.28mi
5203 N Flagler Dr West Palm Beach, FL	3.0	1.5	1458	$6,000	$4.12	24d	1	1.31mi
1025 Sugar Sands Blvd #159 Riviera Beach, FL	1.0	1.0	987	$4,200	$4.26	24d	1	1.31mi
424 51st St Unit 426 West Palm Beach, FL	3.0	2.0	1230	$3,500	$2.85	10d	1	1.33mi
436 51st St West Palm Beach, FL	2.0	1.0	968	$3,750	$3.87	24d	1	1.33mi
5101 Spruce Ave West Palm Beach, FL	3.0	3.0	1151	$3,100	$2.69	24d	1	1.34mi
1030 Sugar Sands Blvd #171 Riviera Beach, FL	2.0	2.0	1143	$5,000	$4.37	24d	1	1.34mi
5200 N Flagler Dr #2004 West Palm Beach, FL	2.0	2.0	1235	$3,800	$3.08	7d	1	1.36mi
5200 N Flagler Dr West Palm Beach, FL	2.0	2.0	1233	$3,375	$2.74	24d	2	1.36mi
1050 Sugar Sands Blvd #174 Riviera Beach, FL	3.0	2.0	1490	$5,500	$3.69	24d	1	1.37mi
301 Lake Shore Dr #802 West Palm Beach, FL	2.0	2.0	1316	$3,000	$2.28	24d	1	1.39mi
1236 Beach Rd Unit 4 Riviera Beach, FL	2.0	1.5	912	$3,170	$3.48	24d	1	1.41mi
1236 Beach Rd Unit 3 Riviera Beach, FL	2.0	1.5	912	$2,950	$3.23	24d	1	1.41mi
1279 Beach Rd Unit 3 West Palm Beach, FL	3.0	2.0	1250	$3,250	$2.60	7d	1	1.44mi
120 Inlet Way #204 Palm Beach Shores, FL	2.0	2.0	1345	$10,000	$7.43	24d	1	1.48mi

Listing history 50 events

1. 2026-06-18
   days on market $450,000 Active 129 DOM
2. 2026-06-17
   days on market $450,000 Active 128 DOM
3. 2026-06-16
   days on market $450,000 Active 127 DOM
4. 2026-06-15
   days on market $450,000 Active 126 DOM
5. 2026-06-13
   days on market $450,000 Active 124 DOM
6. 2026-06-09
   days on market $450,000 Active 120 DOM
7. 2026-06-07
   days on market $450,000 Active 118 DOM
8. 2026-06-04
   days on market $450,000 Active 115 DOM
9. 2026-06-03
   days on market $450,000 Active 114 DOM
10. 2026-06-01
    days on market $450,000 Active 112 DOM
11. 2026-05-31
    days on market $450,000 Active 111 DOM
12. 2026-02-09
    listed $450,000 Active
13. 2025-03-01
    historical
14. 2025-02-17
    status Active
15. 2025-02-11
    status Pending
16. 2025-02-11
    status Active
17. 2025-01-27
    historical
18. 2025-01-27
    historical
19. 2025-01-19
    price $475,000
20. 2025-01-19
    price $475,000
21. 2024-11-12
    price $485,000
22. 2024-11-12
    price $485,000
23. 2024-10-17
    price $495,000
24. 2024-10-17
    price $495,000
25. 2024-10-02
    price $500,000
26. 2024-10-02
    price $500,000
27. 2024-09-30
    price $539,000
28. 2024-09-30
    price $539,000
29. 2024-08-27
    listed $549,000 Active
30. 2024-08-27
    listed $549,000 Active
31. 2024-08-25
    historical
32. 2024-08-25
    historical
33. 2024-05-28
    soldstatus $305,000 Closed
34. 2024-05-16
    historical $1,650
35. 2024-05-03
    listed $1,650
36. 2024-05-03
    historical $1,650
37. 2024-04-30
    status Pending
38. 2024-04-23
    listed $1,650
39. 2024-04-23
    historical $1,650
40. 2024-04-23
    status Active
41. 2024-04-17
    historical Active Under Contract
42. 2024-04-11
    listed $320,000 Active
43. 2024-03-05
    listed $1,650
44. 2024-02-20
    historical $2,000
45. 2024-01-17
    listed $2,000
46. 2021-05-21
    soldstatus $205,500 Closed
47. 2021-05-21
    soldstatus $205,500 Closed
48. 2021-04-13
    historical Active Under Contract
49. 2021-03-29
    price $214,000
50. 2021-03-29
    price $214,000

ⓘ 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 · 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: $83,316
• − Mortgage interest: −$25,207
• − Property taxes: −$6,750
• − Insurance: −$2,250
• − Repairs & maintenance: −$6,665
• − Management: −$6,665
• − Depreciation: −$13,091
• Taxable income: $22,688
• Est. tax owed @ 24.0%: −$5,445
• After-tax cash flow: $23,056/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

+1405.0% since first listed

60 events — show timeline

• 2026-02-09 Listed $450,000 Beaches MLS
• 2025-03-01 Listing Removed — Beaches MLS
• 2025-02-17 Relisted — Beaches MLS
• 2025-02-11 Pending — Beaches MLS
• 2025-02-11 Relisted — Beaches MLS
• 2025-01-27 Listing Removed — Beaches MLS
• 2025-01-27 Listing Removed — Beaches MLS
• 2025-01-19 Price Changed $475,000 Beaches MLS
• 2025-01-19 Price Changed $475,000 Beaches MLS
• 2024-11-12 Price Changed $485,000 Beaches MLS
• 2024-11-12 Price Changed $485,000 Beaches MLS
• 2024-10-17 Price Changed $495,000 Beaches MLS
• 2024-10-17 Price Changed $495,000 Beaches MLS
• 2024-10-02 Price Changed $500,000 Beaches MLS
• 2024-10-02 Price Changed $500,000 Beaches MLS
• 2024-09-30 Price Changed $539,000 Beaches MLS
• 2024-09-30 Price Changed $539,000 Beaches MLS
• 2024-08-27 Listed $549,000 Beaches MLS
• 2024-08-27 Listed $549,000 Beaches MLS
• 2024-08-25 Coming Soon — Beaches MLS
• 2024-08-25 Coming Soon — Beaches MLS
• 2024-05-28 Sold (MLS) $305,000 MARMLS
• 2024-05-16 Rental Removed $1,650 REALLYO
• 2024-05-03 Listed for Rent $1,650 REALLYO
• 2024-05-03 Rental Removed $1,650 REALLYO
• 2024-04-30 Pending — MARMLS
• 2024-04-23 Listed for Rent $1,650 REALLYO
• 2024-04-23 Rental Removed $1,650 REALLYO
• 2024-04-23 Relisted — MARMLS
• 2024-04-17 Contingent — MARMLS
• 2024-04-11 Listed $320,000 MARMLS
• 2024-03-05 Listed for Rent $1,650 REALLYO
• 2024-02-20 Rental Removed $2,000 RMLSFL
• 2024-01-17 Listed for Rent $2,000 RMLSFL
• 2021-05-21 Sold (MLS) $205,500 Beaches MLS
• 2021-05-21 Sold (MLS) $205,500 Beaches MLS
• 2021-04-13 Contingent — Beaches MLS
• 2021-03-29 Price Changed $214,000 Beaches MLS
• 2021-03-29 Price Changed $214,000 Beaches MLS
• 2021-03-29 Relisted — Beaches MLS
• 2021-03-29 Relisted — Beaches MLS
• 2021-03-27 Contingent — Beaches MLS
• 2021-03-27 Contingent — Beaches MLS
• 2021-02-27 Price Changed $209,000 Beaches MLS
• 2021-02-27 Price Changed $209,000 Beaches MLS
• 2021-02-26 Relisted — Beaches MLS
• 2021-02-26 Relisted — Beaches MLS
• 2021-02-09 Pending — Beaches MLS
• 2021-02-09 Pending — Beaches MLS
• 2021-01-04 Price Changed $198,000 Beaches MLS
• 2021-01-04 Price Changed $198,000 Beaches MLS
• 2020-11-20 Listed $229,000 Beaches MLS
• 2020-11-20 Listed $229,000 Beaches MLS
• 2008-12-31 Listing Removed — Beaches MLS
• 2008-05-14 Listing Removed — Beaches MLS
• 2008-05-14 Listed $69,000 Beaches MLS
• 2007-08-16 Listed $79,900 Beaches MLS
• 2003-06-05 Sold (MLS) $20,000 Beaches MLS
• 2003-05-19 Listing Removed — Beaches MLS
• 2002-08-28 Listed $29,900 Beaches MLS