5815 Garden Ave · West Palm Beach, FL 33405

$435,000

3 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 270 Days on market

Built 1948 6,042 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 +14.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• 1% rule +3.6/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute little house in West Palm Beach corner lot

Key facts

• Large corner lot
• Remodeled bathroom
• Updated kitchen

Tags

• LARGE CORNER LOT
• TREE LINED NEIGHBORHOOD
• NEW ROOF
• REMODELED BATHROOM
• UPDATED KITCHEN
• SEPARATE LAUNDRY ROOM

Property features AI

Finance

• Other: Pets allowed with no restrictions; Property is a single-unit community
• Financial info: Not a land lease

Exterior

• Parking: Attached carport; Covered parking (2 spaces); On-street parking; Open parking (2 spaces)
• Security: Smoke detector(s); Security lights
• Utilities: Public water; Public sewer; Three phase electric; Cable available; Water available; Sewer available
• Home design: Single family residence; One story; Resale property; Faces east
• Construction: Stucco construction; Built-up/Composition/Shingle roof; Combination foundation; Built in 1,790 sq ft building area (public records)
• Exterior features: Covered patio; Patio; Corner lot; Sidewalks; City street frontage; West of US-1; Paved public road

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Central electric heating; Central air conditioning; Electric cooling; Paddle fan(s)
• Interior features: Built-in features; Walk-in closet(s); Stacked bedroom layout; Closet cabinetry; Blinds; Single-hung metal windows
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $435k.

Deal economics

• At list price, monthly cash flow is $88 ($1k/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 $373k (14.4% below list).
• Recommended offer: $373k (14.4% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.8% in West Palm Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#75 in FL, #1,255 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, crime 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: Palmetto Elementary School (math 34% / reading 40%, grade F, #1,609 of 2,144 statewide, top 77%, 537 students, 82% FRL); Conniston Middle School (math 35% / reading 38%, grade F, #405 of 571 statewide, top 72%, 1,075 students, 74% FRL); Forest Hill Community High School (math 20% / reading 41%, grade F, #434 of 667 statewide, top 66%, 2,407 students, 66% FRL) — zoned schools average 74% FRL vs 52% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 35% at this address vs 50% district-wide (-15 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 (+3.4%/yr); 211 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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 270 days — a 12% lower offer ($383k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 24y ago; this cycle's ask is 13494% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $50k; list at $435k implies a 761% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $372,571 (14.4% below list)

Questions for the listing agent

1. It's been on market 270 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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.
8. 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.
9. 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: 0.86% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.86%
• DSCR: 1.04
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.44% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-63,293
• Equity at exit: $64,860

10-year hold

• IRR: -5.1%
• Equity multiple: 0.66×
• Total profit: $-41,224
• Equity at exit: $37,611

Cash invested: $121,800 (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 33405

• Rents YoY: 3.4%
• Active inventory: 211
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $3,726 high
• Mortgage (P&I): −$2,281
• Tax from tax record: −$393 /mo · $4,720/yr
• Insurance: −$181
• HOA: −$0
• Vacancy / Maint / Mgmt: −$782
• Net cashflow: $88

Break-even live

Break-even rent $3,615

Max offer price $435,000

Occupancy floor 93%

Sensitivity live

Price	-10% $334	-5% $211	+0% $88	+5% $-36	+10% $-159
Rent	-10% $-207	-5% $-60	+0% $88	+5% $235	+10% $382
Rate	-1.0pp $307	-0.5pp $198	base $88	+0.5pp $-25	+1.0pp $-140

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: $108,750
• Closing costs: $13,050
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
727 Bunker Rd West Palm Beach, FL	3.0	1.0	875	$3,200	$3.66	22d	1	0.21mi
512 Revere Rd West Palm Beach, FL	4.0	2.0	1371	$3,395	$2.48	17d	1	0.22mi
512 Revere Rd West Palm Beach, FL	4.0	2.0	1371	$3,395	$2.48	26d	1	0.22mi
410 Franklin Rd West Palm Beach, FL	4.0	2.0	1388	$3,300	$2.38	26d	1	0.39mi
360 Palmetto St West Palm Beach, FL	2.0	2.0	1318	$3,600	$2.73	4d	1	0.42mi
802 Lytle St West Palm Beach, FL	2.0	2.0	832	$4,000	$4.81	4d	1	0.43mi
5003 Garden Ave West Palm Beach, FL	4.0	2.0	1220	$2,950	$2.42	16d	1	0.45mi
621 Forest Hill Blvd West Palm Beach, FL	2.0	2.0	1400	$3,000	$2.14	20d	1	0.46mi
5008 Parker Ave West Palm Beach, FL	3.0	2.0	1318	$4,000	$3.03	26d	1	0.48mi
733 Green St West Palm Beach, FL	2.0	1.0	1116	$3,400	$3.05	4d	1	0.48mi
824 Winters St West Palm Beach, FL	3.0	2.0	1370	$3,000	$2.19	26d	1	0.55mi
353 E Lakewood Rd West Palm Beach, FL	3.0	2.0	1440	$5,650	$3.92	26d	1	0.64mi
350 Forest Hill Blvd West Palm Beach, FL	3.0	1.0	1295	$6,500	$5.02	1d	1	0.66mi
374 Maddock St West Palm Beach, FL	3.0	2.0	1466	$6,500	$4.43	26d	1	0.70mi
719 Briggs St West Palm Beach, FL	3.0	2.0	1328	$3,500	$2.64	22d	1	0.73mi
340 Summa St West Palm Beach, FL	3.0	2.0	1362	$5,750	$4.22	4d	1	0.92mi
7704 Martin Ave West Palm Beach, FL	2.0	2.0	1288	$20,000	$15.53	26d	1	1.10mi
110 Wilson Rd West Palm Beach, FL	3.0	1.0	1433	$8,000	$5.58	26d	1	1.11mi
218 Seville Rd West Palm Beach, FL	2.0	1.0	1036	$3,250	$3.14	9d	1	1.12mi
214 Seville Rd West Palm Beach, FL	3.0	2.0	1388	$4,250	$3.06	26d	1	1.12mi
3901 S Flagler Dr West Palm Beach, FL	2.0–5.0	2.0–5.0	2266	$6,000	$2.65	4d	6	1.23mi
3901 S Flagler Dr West Palm Beach, FL	2.0–5.0	2.0–5.0	2266	$6,333	$2.79	24d	6	1.23mi
3800 Washington Rd West Palm Beach, FL	2.0–3.0	2.0	1318	$10,000	$7.59	3d	6	1.27mi
3800 Washington Rd West Palm Beach, FL	2.0–3.0	2.0	1318	$10,000	$7.59	22d	4	1.27mi
3800 Washington Rd West Palm Beach, FL	2.0–3.0	2.0	1318	$10,000	$7.59	9d	5	1.27mi
3331 Lake Ave West Palm Beach, FL	2.0	1.0	775	$3,500	$4.52	26d	1	1.35mi
3701 S Flagler Dr Unit B303 West Palm Beach, FL	2.0	2.0	1290	$3,850	$2.98	5d	1	1.35mi

Listing history 30 events

1. 2026-06-16
   days on market $435,000 Active 270 DOM
2. 2026-06-15
   days on market $435,000 Active 269 DOM
3. 2026-06-13
   days on market $435,000 Active 267 DOM
4. 2026-06-09
   days on market $435,000 Active 263 DOM
5. 2026-06-07
   days on market $435,000 Active 261 DOM
6. 2026-06-04
   days on market $435,000 Active 258 DOM
7. 2026-06-03
   days on market $435,000 Active 257 DOM
8. 2026-06-01
   days on market $435,000 Active 255 DOM
9. 2026-05-31
   days on market $435,000 Active 254 DOM
10. 2026-05-07
    status Active
11. 2026-05-02
    historical
12. 2026-04-01
    listed $3,200
13. 2026-04-01
    historical $3,200
14. 2026-03-25
    price $435,000
15. 2025-09-13
    listed $485,000 Active
16. 2025-07-01
    listed $3,200
17. 2025-06-16
    historical $3,200
18. 2025-05-25
    price $3,200
19. 2025-05-13
    listed $3,500
20. 2013-09-21
    historical
21. 2011-06-27
    soldstatus $50,500 47-char remark

    Show marketing remark (47 chars)

    Cute little house in West Palm Beach corner lot

22. 2011-04-27
    historical 47-char remark

    Show marketing remark (47 chars)

    Cute little house in West Palm Beach corner lot

23. 2011-04-20
    listed $45,900 47-char remark

    Show marketing remark (47 chars)

    Cute little house in West Palm Beach corner lot

24. 2006-09-30
    listed $249,000
25. 2003-06-17
    soldstatus $130,000
26. 2003-04-15
    historical
27. 2003-03-06
    historical
28. 2002-12-05
    listed $159,900
29. 2002-12-05
    listed $149,900
30. 2002-09-27
    soldstatus $74,000

ⓘ 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: $4,720 · $393/mo
• Projected year-2 tax: $4,720 · $393/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,709
• − Mortgage interest: −$24,367
• − Property taxes: −$4,720
• − Insurance: −$2,175
• − Repairs & maintenance: −$3,577
• − Management: −$3,577
• − Depreciation: −$12,655
• Taxable loss: −$6,361
• Est. tax savings @ 24.0%: +$1,527
• After-tax cash flow: $2,577/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 — West Palm Beach

• Score: 82/100
• State rank: #75
• US rank: #1255

Category grades

Amenities A- Commute A+ Cost of living B- Crime F Employment C- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 19,780
• Household income: $87,341
• Rent vs Own: 43.7% rent · 56.3% own
• Severe rent burden: 1055.0

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 Hispanic (51%)
• Race & ethnicity: Hispanic / Latino 51% White 44% Two or more races 24% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 5% Cuban 17% Dominican 2%
• Common ancestry: Scotch-Irish 2% Slovak 2% Romanian 2%
• Foreign-born: 37% · Canada, Guatemala, Jamaica
• Languages at home: 50% English-only · Spanish 44% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -662.68%
• Current HPI: 509.781
• Rent YoY: ▲ 3.44%
• 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

-95.7% since first listed

21 events — show timeline

• 2026-05-07 Relisted — Beaches MLS
• 2026-05-02 Listing Removed — Beaches MLS
• 2026-04-01 Listed for Rent $3,200 RMLSFL
• 2026-04-01 Rental Removed $3,200 GFLMLS
• 2026-03-25 Price Changed $435,000 Beaches MLS
• 2025-09-13 Listed $485,000 Beaches MLS
• 2025-07-01 Listed for Rent $3,200 GFLMLS
• 2025-06-16 Rental Removed $3,200 GFLMLS
• 2025-05-25 Price Changed $3,200 GFLMLS
• 2025-05-13 Listed for Rent $3,500 GFLMLS
• 2013-09-21 Listing Removed — Beaches MLS
• 2011-06-27 Sold (MLS) $50,500 Beaches MLS
• 2011-04-27 Listing Removed — Beaches MLS
• 2011-04-20 Listed $45,900 Beaches MLS
• 2006-09-30 Listed $249,000 Beaches MLS
• 2003-06-17 Sold (MLS) $130,000 Beaches MLS
• 2003-04-15 Listing Removed — Beaches MLS
• 2003-03-06 Listing Removed — Beaches MLS
• 2002-12-05 Listed $149,900 Beaches MLS
• 2002-12-05 Listed $159,900 Beaches MLS
• 2002-09-27 Sold (Public Records) $74,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $4,720 · +7.2% YoY. Source: county tax records.