1609 W 28th A St Unit A · Riviera Beach, FL 33404

$275,000

4 bd · 3.0 ba · 1,768 sqft · Townhouse public records · 107 Days on market

Built 1984 890 sqft lot Est $380k · 28% under

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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 +25.5/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +6.7/10.0
• 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

Huge townhouse in good condition. Is it rented and brings in a good income. This unit can be purchased on it's own or with Unit B as well, which is also rented. These two units can be converted back into a quadplex, if need be. This is a great investment for an investor.

Key facts

• Townhouse
• Built 1984
• Listed 107 days

Tags

• TOWNHOUSE

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath townhouse listed at $275k.

Deal economics

• At list price, monthly cash flow is $642 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $250k (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.
• Market conditions: Rents soft (-0.7%/yr); 506 active listings in the ZIP; 14 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 $3,230/mo this rent would consume 60% 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 107 days — a 9% lower offer ($250k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y 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 $190k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $250,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.17% ✓
• Cap rate: 9.09%
• Cash-on-cash: 10.00%
• DSCR: 1.45
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $380,120
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3627 Oleander Ter	0.45mi	3/2.5 (-1)	1,556 (-12%)	11mo	$335,000	$215	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.83×
• Total profit: $-13,093
• Equity at exit: $41,003

10-year hold

• IRR: 1.0%
• Equity multiple: 1.06×
• Total profit: $4,880
• Equity at exit: $23,777

Cash invested: $77,000 (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: 7.1×

Monthly cashflow live

• Estimated rent: $3,230 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$353 /mo · $4,236/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$678
• Net cashflow: $642

Break-even live

Break-even rent $2,417

Max offer price $275,000

Occupancy floor 75%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1389 W 33rd St Riviera Beach, FL	4.0	3.0	1737	$3,000	$1.73	24d	1	0.37mi
2226 Oakmont Dr Riviera Beach, FL	3.0	2.5	1972	$2,850	$1.45	24d	1	0.54mi
815 Silver Beach Rd Lake Park, FL	4.0	3.0	1480	$3,000	$2.03	24d	1	0.89mi
520 W 28th St Riviera Beach, FL	3.0	1.0	1296	$6,000	$4.63	3d	1	1.15mi
1401 W 9th St Riviera Beach, FL	3.0	2.0	1304	$3,200	$2.45	24d	1	1.15mi
2004 Sugar Maple Dr Riviera Beach, FL	4.0	2.5	1861	$2,995	$1.61	14d	1	1.18mi
2022 Oysterwood Ln Riviera Beach, FL	3.0	3.5	1714	$2,900	$1.69	24d	1	1.21mi
3016 King Palm Way Riviera Beach, FL	3.0	2.5	1853	$3,800	$2.05	24d	1	1.35mi
810 Sandtree Dr Palm Beach Gardens, FL	4.0	2.5	1800	$3,400	$1.89	24d	1	1.36mi
4216 Leo Ln Unit 5G Riviera Beach, FL	4.0	2.0	2116	$2,900	$1.37	24d	1	1.37mi
8617 Pluto Ter West Palm Beach, FL	3.0	2.0	1560	$3,999	$2.56	24d	1	1.40mi
4408 Hemlock Dr Riviera Beach, FL	4.0	2.5	1861	$3,200	$1.72	20d	1	1.43mi
321 Sandtree Dr Palm Beach Gardens, FL	3.0	2.5	1480	$3,000	$2.03	24d	1	1.49mi
321 Sandtree Dr Palm Beach Gardens, FL	3.0	2.5	1480	$3,000	$2.03	11d	1	1.49mi

Listing history 22 events

1. 2026-03-11
   status Pending
2. 2025-02-06
   status Pending
3. 2024-10-18
   listed $275,000 Active
4. 2021-10-18
   soldstatus $190,000
5. 2021-10-08
   soldstatus $597,000 Closed 272-char remark

   Show marketing remark (272 chars)

   Huge townhouse in good condition. Is it rented and brings in a good income. This unit can be purchased on it's own or with Unit B as well, which is also rented. These two units can be converted back into a quadplex, if need be. This is a great investment for an investor.

6. 2021-09-14
   status Pending 272-char remark

   Show marketing remark (272 chars)

   Huge townhouse in good condition. Is it rented and brings in a good income. This unit can be purchased on it's own or with Unit B as well, which is also rented. These two units can be converted back into a quadplex, if need be. This is a great investment for an investor.

7. 2021-07-26
   listed $200,000 Active 272-char remark

   Show marketing remark (272 chars)

   Huge townhouse in good condition. Is it rented and brings in a good income. This unit can be purchased on it's own or with Unit B as well, which is also rented. These two units can be converted back into a quadplex, if need be. This is a great investment for an investor.

8. 2017-08-31
   soldstatus $140,000
9. 2017-08-29
   soldstatus $121,250
10. 2017-08-25
    soldstatus $123,000 Closed 268-char remark

    Show marketing remark (268 chars)

    This is a bundle of 3 houses:2 have 4 BR and 3 BA rented section8 at $1600/month. Tenants pay their own electric and water. 1 attached house has 3 BR and 1 BA rented $1100/month. Total income: $4300/month. Total amount of units: 3We will entertain offers per house too

11. 2017-07-21
    status Pending 268-char remark

    Show marketing remark (268 chars)

    This is a bundle of 3 houses:2 have 4 BR and 3 BA rented section8 at $1600/month. Tenants pay their own electric and water. 1 attached house has 3 BR and 1 BA rented $1100/month. Total income: $4300/month. Total amount of units: 3We will entertain offers per house too

12. 2017-06-16
    price $375,000 268-char remark

    Show marketing remark (268 chars)

    This is a bundle of 3 houses:2 have 4 BR and 3 BA rented section8 at $1600/month. Tenants pay their own electric and water. 1 attached house has 3 BR and 1 BA rented $1100/month. Total income: $4300/month. Total amount of units: 3We will entertain offers per house too

13. 2017-06-16
    listed $345,000 Active 268-char remark

    Show marketing remark (268 chars)

    This is a bundle of 3 houses:2 have 4 BR and 3 BA rented section8 at $1600/month. Tenants pay their own electric and water. 1 attached house has 3 BR and 1 BA rented $1100/month. Total income: $4300/month. Total amount of units: 3We will entertain offers per house too

14. 2017-03-02
    historical
15. 2017-01-12
    listed $69,000 Active
16. 2004-10-25
    soldstatus $95,000
17. 2004-10-14
    soldstatus $190,000
18. 2004-10-11
    historical
19. 2004-07-08
    listed $215,000
20. 2000-02-29
    soldstatus $32,324
21. 1999-12-27
    historical
22. 1999-06-30
    listed $33,856

ⓘ 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: $4,236 · $353/mo
• Projected year-2 tax: $4,236 · $353/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: $38,757
• − Mortgage interest: −$15,404
• − Property taxes: −$4,236
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,101
• − Management: −$3,101
• − Depreciation: −$8,000
• Taxable income: $3,541
• Est. tax owed @ 24.0%: −$850
• After-tax cash flow: $6,852/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

+712.3% since first listed

22 events — show timeline

• 2026-03-11 Pending — Beaches MLS
• 2025-02-06 Pending — Beaches MLS
• 2024-10-18 Listed $275,000 Beaches MLS
• 2021-10-18 Sold (Public Records) $190,000 Public Records
• 2021-10-08 Sold (MLS) $597,000 Beaches MLS
• 2021-09-14 Pending — Beaches MLS
• 2021-07-26 Listed $200,000 Beaches MLS
• 2017-08-31 Sold (Public Records) $140,000 Public Records
• 2017-08-29 Sold (Public Records) $121,250 Public Records
• 2017-08-25 Sold (MLS) $123,000 Beaches MLS
• 2017-07-21 Pending — Beaches MLS
• 2017-06-16 Price Changed $375,000 Beaches MLS
• 2017-06-16 Listed $345,000 Beaches MLS
• 2017-03-02 Listing Removed — Beaches MLS
• 2017-01-12 Listed $69,000 Beaches MLS
• 2004-10-25 Sold (Public Records) $95,000 Public Records
• 2004-10-14 Sold (MLS) $190,000 Beaches MLS
• 2004-10-11 Listing Removed — Beaches MLS
• 2004-07-08 Listed $215,000 Beaches MLS
• 2000-02-29 Sold (MLS) $32,324 Beaches MLS
• 1999-12-27 Listing Removed — Beaches MLS
• 1999-06-30 Listed $33,856 Beaches MLS

Property tax history

+13.6%/yr

Latest (2025): $4,236 · +2.8% YoY. Source: county tax records.