3261 Scarletta Dr · Riviera Beach, FL 33404

$224,950

2 bd · 2.0 ba · 1,022 sqft · Townhouse public records · 92 Days on market

Built 2006 $390/mo HOA · 12% 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 +22.1/30.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 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

INVESTOR FRIENDLY. CAN BE RENTED OUT ASAP! 2 BD | 2 BA beautiful townhome in D R Design of Villa Rose. This home is great for first time buyers, investors or 2nd home occupants. This home features brand-new interior paint, 1-car garage and brand new carpet. The kitchen provides an open concept w/ newer appliances. Relax on the open patio with the beautiful views. This community comes w/ all the amenities you can imagine plus more. Give us a call today for your private tour. Can be rented asap! Investor friendly!

Key facts

• Gated community
• Covered balcony
• Pool

Tags

• GATED COMMUNITY
• GROUND-FLOOR ENTRANCE
• OPEN-CONCEPT LIVING
• COVERED BALCONY
• SCENIC LAKE
• POOL

Property features AI

Finance

• Financial info: Pets allowed (possible restrictions and number limits)
• HOA & community: Homeowners association with monthly fee; HOA fee: $390 monthly; Association amenities include pool, sidewalks, and street lights; HOA fee includes insurance, security, and recreation facility

Exterior

• Parking: Attached garage (1 space) plus driveway/open parking (total 2 parking spaces); Covered parking: 1 space
• Security: Gated - no guard
• Utilities: Public water; Public sewer; Electricity connected (Three Phase); Cable available
• Home design: Condominium; Multi/split levels; 2-story building; Entry level: 1; Faces east; Resale condition
• Construction: Built with CBS construction materials; Concrete and tile roof
• Exterior features: No waterfront; Road frontage west of US-1; Gated community (no guard)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central electric heating; Central air conditioning (electric)
• Interior features: Walk-in closets; Split bedroom layout; Upstairs living area
• Laundry & utility: Inside laundry in a laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $225k.

Deal economics

• At list price, monthly cash flow is $362 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $205k (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 25d 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 $3,123/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 $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 92 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 15y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,704 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 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: 1.39% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.89%
• DSCR: 1.31
• GRM: 6.0

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: -10.0%
• Equity multiple: 0.65×
• Total profit: $-22,181
• Equity at exit: $33,541

10-year hold

• IRR: -7.1%
• Equity multiple: 0.63×
• Total profit: $-23,453
• Equity at exit: $19,450

Cash invested: $62,986 (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: 6.0×

Monthly cashflow live

• Estimated rent: $3,123 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$442 /mo · $5,304/yr
• Insurance: −$94
• HOA: −$390
• Vacancy / Maint / Mgmt: −$656
• Net cashflow: $362

Break-even live

Break-even rent $2,665

Max offer price $224,950

Occupancy floor 83%

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: $56,238
• Closing costs: $6,748
• 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	24d	1	0.95mi
901 W 37th St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	24d	1	1.01mi
8731 Uranus Ter West Palm Beach, FL	2.0	1.0	900	$3,200	$3.56	24d	1	1.12mi
321 Sandtree Dr Palm Beach Gardens, FL	3.0	2.5	1480	$3,000	$2.03	11d	1	1.16mi
321 Sandtree Dr Palm Beach Gardens, FL	3.0	2.5	1480	$3,000	$2.03	24d	1	1.16mi
520 W 28th St Riviera Beach, FL	3.0	1.0	1296	$6,000	$4.63	3d	1	1.37mi
1401 W 9th St Riviera Beach, FL	3.0	2.0	1304	$3,200	$2.45	24d	1	1.48mi

HOA detail

• Monthly dues: $390 · $4,680/yr

Listing history 23 events

1. 2026-06-03
   days on market $224,950 Active 92 DOM
2. 2026-06-02
   days on market $224,950 Active 91 DOM
3. 2026-06-01
   days on market $224,950 Active 90 DOM
4. 2026-05-31
   days on market $224,950 Active 89 DOM
5. 2026-03-03
   listed $224,950 Active
6. 2026-02-26
   historical
7. 2025-12-12
   price $239,995
8. 2025-10-17
   price $249,950
9. 2025-08-26
   listed $259,950 Active
10. 2023-02-09
    soldstatus $255,000
11. 2023-02-02
    soldstatus $255,000 Closed 517-char remark

    Show marketing remark (517 chars)

    INVESTOR FRIENDLY. CAN BE RENTED OUT ASAP! 2 BD | 2 BA beautiful townhome in D R Design of Villa Rose. This home is great for first time buyers, investors or 2nd home occupants. This home features brand-new interior paint, 1-car garage and brand new carpet. The kitchen provides an open concept w/ newer appliances. Relax on the open patio with the beautiful views. This community comes w/ all the amenities you can imagine plus more. Give us a call today for your private tour. Can be rented asap! Investor friendly!

12. 2023-01-10
    status Pending 517-char remark

    Show marketing remark (517 chars)

    INVESTOR FRIENDLY. CAN BE RENTED OUT ASAP! 2 BD | 2 BA beautiful townhome in D R Design of Villa Rose. This home is great for first time buyers, investors or 2nd home occupants. This home features brand-new interior paint, 1-car garage and brand new carpet. The kitchen provides an open concept w/ newer appliances. Relax on the open patio with the beautiful views. This community comes w/ all the amenities you can imagine plus more. Give us a call today for your private tour. Can be rented asap! Investor friendly!

13. 2022-11-10
    price $280,000 517-char remark

    Show marketing remark (517 chars)

    INVESTOR FRIENDLY. CAN BE RENTED OUT ASAP! 2 BD | 2 BA beautiful townhome in D R Design of Villa Rose. This home is great for first time buyers, investors or 2nd home occupants. This home features brand-new interior paint, 1-car garage and brand new carpet. The kitchen provides an open concept w/ newer appliances. Relax on the open patio with the beautiful views. This community comes w/ all the amenities you can imagine plus more. Give us a call today for your private tour. Can be rented asap! Investor friendly!

14. 2022-10-21
    listed $299,900 Active 517-char remark

    Show marketing remark (517 chars)

    INVESTOR FRIENDLY. CAN BE RENTED OUT ASAP! 2 BD | 2 BA beautiful townhome in D R Design of Villa Rose. This home is great for first time buyers, investors or 2nd home occupants. This home features brand-new interior paint, 1-car garage and brand new carpet. The kitchen provides an open concept w/ newer appliances. Relax on the open patio with the beautiful views. This community comes w/ all the amenities you can imagine plus more. Give us a call today for your private tour. Can be rented asap! Investor friendly!

15. 2017-09-05
    soldstatus $118,000
16. 2017-09-01
    soldstatus $118,000 Closed
17. 2017-08-15
    historical Contingent
18. 2017-07-18
    listed $120,000 Active
19. 2012-05-04
    soldstatus $48,000
20. 2012-02-07
    historical
21. 2012-02-02
    historical
22. 2012-02-02
    listed $47,000
23. 2011-07-13
    listed $50,000

ⓘ 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: $5,304 · $442/mo
• Projected year-2 tax: $5,304 · $442/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 9/10 Extreme 5 d/yr ≥106°F today · 17 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: $37,475
• − Mortgage interest: −$12,601
• − Property taxes: −$5,304
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,998
• − Management: −$2,998
• − HOA: −$4,680
• − Depreciation: −$6,544
• Taxable income: $1,226
• Est. tax owed @ 24.0%: −$294
• After-tax cash flow: $4,046/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

+349.9% since first listed

19 events — show timeline

• 2026-03-03 Listed $224,950 Beaches MLS
• 2026-02-26 Listing Removed — Beaches MLS
• 2025-12-12 Price Changed $239,995 Beaches MLS
• 2025-10-17 Price Changed $249,950 Beaches MLS
• 2025-08-26 Listed $259,950 Beaches MLS
• 2023-02-09 Sold (Public Records) $255,000 Public Records
• 2023-02-02 Sold (MLS) $255,000 MARMLS
• 2023-01-10 Pending — MARMLS
• 2022-11-10 Price Changed $280,000 MARMLS
• 2022-10-21 Listed $299,900 MARMLS
• 2017-09-05 Sold (Public Records) $118,000 Public Records
• 2017-09-01 Sold (MLS) $118,000 Beaches MLS
• 2017-08-15 Contingent — Beaches MLS
• 2017-07-18 Listed $120,000 Beaches MLS
• 2012-05-04 Sold (MLS) $48,000 Beaches MLS
• 2012-02-07 Listing Removed — Beaches MLS
• 2012-02-02 Listed $47,000 Beaches MLS
• 2012-02-02 Listing Removed — Beaches MLS
• 2011-07-13 Listed $50,000 Beaches MLS

Property tax history

+12.0%/yr

Latest (2025): $5,304 · +0.1% YoY. Source: county tax records.