1633 W 28th St Unit B · Riviera Beach, FL 33404

$245,000

4 bd · 3.0 ba · 1,768 sqft · Townhouse public records · 88 Days on market

Built 1984 880 sqft lot Est $380k · 36% 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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• 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

''PROPERTY SOLD ''''AS-IS'''''' SELLING COMMISSION UP TO 5% FOR AVAILABILITY & BIDDING REFER TO WWW. FIRSTPRESTON. COM

Key facts

• 3 parking spots
• Built 1984
• Listed 87 days

Property features AI

Finance

• Other: Pets allowed with no restrictions
• Financial info: No land lease

Exterior

• Parking: Driveway with 3 open parking spaces (3 total)
• Security: Other security features
• Utilities: Public water; Public sewer; 100 amp electric service; No listed utility hookups
• Home design: Townhouse; Two-story; First-floor entry; North-facing
• Construction: CBS construction; Shingle roof; No foundation details listed
• Exterior features: Back yard fencing; Other detached/other structures; City street frontage; Asphalt road

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Owned water purifier
• Bedrooms: One bedroom on the main level
• Flooring: Ceramic tile
• Bathrooms: Three full bathrooms (one on the main level)
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Walk-in closets; Other window features
• Laundry & utility: Laundry located in the kitchen; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath townhouse listed at $245k.

Deal economics

• At list price, monthly cash flow is $860 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $230k (6.0% 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; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $3,291/mo this rent would consume 61% 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 88 days — a 6% lower offer ($230k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 27y ago; this cycle's ask is 9323% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $199k; 23% 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 $230,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.34% ✓
• Cap rate: 10.51%
• Cash-on-cash: 15.05%
• DSCR: 1.67
• GRM: 6.2

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	0.44mi	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: 2.2%
• Equity multiple: 1.08×
• Total profit: $5,512
• Equity at exit: $36,530

10-year hold

• IRR: 8.5%
• Equity multiple: 1.56×
• Total profit: $38,381
• Equity at exit: $21,183

Cash invested: $68,600 (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: 6.2×

Monthly cashflow live

• Estimated rent: $3,291 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$353 /mo · $4,236/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$691
• Net cashflow: $860

Break-even live

Break-even rent $2,202

Max offer price $245,000

Occupancy floor 69%

Sensitivity live

Price	-10% $999	-5% $929	+0% $860	+5% $791	+10% $721
Rent	-10% $600	-5% $730	+0% $860	+5% $990	+10% $1,120
Rate	-1.0pp $983	-0.5pp $922	base $860	+0.5pp $797	+1.0pp $732

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 15 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	26d	1	0.37mi
2226 Oakmont Dr Riviera Beach, FL	3.0	2.5	1972	$2,850	$1.45	26d	1	0.54mi
815 Silver Beach Rd Lake Park, FL	4.0	3.0	1480	$3,000	$2.03	26d	1	0.89mi
520 W 28th St Riviera Beach, FL	3.0	1.0	1296	$6,000	$4.63	4d	1	1.15mi
1401 W 9th St Riviera Beach, FL	3.0	2.0	1304	$3,200	$2.45	26d	1	1.15mi
2004 Sugar Maple Dr Riviera Beach, FL	4.0	2.5	1861	$2,995	$1.61	15d	1	1.18mi
2022 Oysterwood Ln Riviera Beach, FL	3.0	3.5	1714	$2,900	$1.69	26d	1	1.21mi
3016 King Palm Way Riviera Beach, FL	3.0	2.5	1853	$3,800	$2.05	26d	1	1.35mi
810 Sandtree Dr Palm Beach Gardens, FL	4.0	2.5	1800	$3,400	$1.89	26d	1	1.36mi
4216 Leo Ln Unit 5G Riviera Beach, FL	4.0	2.0	2116	$2,900	$1.37	26d	1	1.37mi
4009 Sequoia Pl Riviera Beach, FL	4.0	2.5	1849	$4,500	$2.43	1d	1	1.37mi
8617 Pluto Ter West Palm Beach, FL	3.0	2.0	1560	$3,999	$2.56	26d	1	1.40mi
4408 Hemlock Dr Riviera Beach, FL	4.0	2.5	1861	$3,200	$1.72	22d	1	1.43mi
321 Sandtree Dr Palm Beach Gardens, FL	3.0	2.5	1480	$3,000	$2.03	12d	1	1.49mi
321 Sandtree Dr Palm Beach Gardens, FL	3.0	2.5	1480	$3,000	$2.03	26d	1	1.49mi

Listing history 27 events

1. 2026-06-21
   days on market $245,000 Active 88 DOM
2. 2026-06-18
   days on market $245,000 Active 85 DOM
3. 2026-06-17
   days on market $245,000 Active 84 DOM
4. 2026-06-16
   days on market $245,000 Active 83 DOM
5. 2026-06-15
   days on market $245,000 Active 82 DOM
6. 2026-06-13
   days on market $245,000 Active 80 DOM
7. 2026-06-09
   days on market $245,000 Active 76 DOM
8. 2026-06-08
   days on market $245,000 Active 75 DOM
9. 2026-06-07
   days on market $245,000 Active 74 DOM
10. 2026-06-04
    days on market $245,000 Active 71 DOM
11. 2026-06-03
    days on market $245,000 Active 70 DOM
12. 2026-06-02
    days on market $245,000 Active 69 DOM
13. 2026-06-01
    days on market $245,000 Active 68 DOM
14. 2026-05-31
    days on market $245,000 Active 67 DOM
15. 2026-05-24
    listed $2,600
16. 2026-05-23
    historical $2,600
17. 2026-05-20
    listed $2,600
18. 2026-04-07
    price $245,000
19. 2026-03-25
    listed $270,000 Active
20. 2021-08-12
    soldstatus $199,000
21. 2008-08-07
    soldstatus $50,000
22. 2004-06-21
    soldstatus $140,000
23. 2000-02-15
    soldstatus $23,100 124-char remark

    Show marketing remark (124 chars)

    ''PROPERTY SOLD ''''AS-IS'''''' SELLING COMMISSION UP TO 5% FOR AVAILABILITY & BIDDING REFER TO WWW. FIRSTPRESTON. COM

24. 2000-01-03
    historical 124-char remark

    Show marketing remark (124 chars)

    ''PROPERTY SOLD ''''AS-IS'''''' SELLING COMMISSION UP TO 5% FOR AVAILABILITY & BIDDING REFER TO WWW. FIRSTPRESTON. COM

25. 1999-09-17
    listed $31,571 124-char remark

    Show marketing remark (124 chars)

    ''PROPERTY SOLD ''''AS-IS'''''' SELLING COMMISSION UP TO 5% FOR AVAILABILITY & BIDDING REFER TO WWW. FIRSTPRESTON. COM

26. 1999-05-23
    soldstatus $37,300 124-char remark

    Show marketing remark (124 chars)

    ''PROPERTY SOLD ''''AS-IS'''''' SELLING COMMISSION UP TO 5% FOR AVAILABILITY & BIDDING REFER TO WWW. FIRSTPRESTON. COM

27. 1999-04-30
    listed $37,300 124-char remark

    Show marketing remark (124 chars)

    ''PROPERTY SOLD ''''AS-IS'''''' SELLING COMMISSION UP TO 5% FOR AVAILABILITY & BIDDING REFER TO WWW. FIRSTPRESTON. COM

ⓘ 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: $39,493
• − Mortgage interest: −$13,724
• − Property taxes: −$4,236
• − Insurance: −$1,225
• − Repairs & maintenance: −$3,159
• − Management: −$3,159
• − Depreciation: −$7,127
• Taxable income: $6,862
• Est. tax owed @ 24.0%: −$1,647
• After-tax cash flow: $8,674/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

-93.0% since first listed

13 events — show timeline

• 2026-05-24 Listed for Rent $2,600 GFLMLS
• 2026-05-23 Rental Removed $2,600 RMLSFL
• 2026-05-20 Listed for Rent $2,600 RMLSFL
• 2026-04-07 Price Changed $245,000 Beaches MLS
• 2026-03-25 Listed $270,000 Beaches MLS
• 2021-08-12 Sold (Public Records) $199,000 Public Records
• 2008-08-07 Sold (Public Records) $50,000 Public Records
• 2004-06-21 Sold (Public Records) $140,000 Public Records
• 2000-02-15 Sold (MLS) $23,100 Beaches MLS
• 2000-01-03 Listing Removed — Beaches MLS
• 1999-09-17 Listed $31,571 Beaches MLS
• 1999-05-23 Sold (MLS) $37,300 Beaches MLS
• 1999-04-30 Listed $37,300 Beaches MLS

Property tax history

+13.6%/yr

Latest (2025): $4,236 · +3.4% YoY. Source: county tax records.