527 48th St · West Palm Beach, FL 33407

$760,000

4 bd · 4.0 ba · 2,072 sqft · MultiFamily public records · 79 Days on market

Built 1954 6,098 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Turnkey, CBS, Multi Family property located in the Opportunity Zone. Featuring one 2/1 and three 1/1 with central A. C. There is a washer and dryer with a laundry room. Current income $42,000 annually with a projected income of $52,800 annually. Current cap rate is 8.49% & projected cap rate is 9.99% with new rents.

Key facts

• 6,098 sq ft lot
• Built 1954
• Listed 78 days

Property features AI

Finance

• Financial info: 4 total units; Gross income: $77,160; Net operating income: $43,906; Tenants pay cable TV and electricity; Pets allowed (pet restrictions possible); 4 units in the community

Exterior

• Utilities: Public water; Public sewer; Cable available; Electricity available; Four separate electric meters
• Home design: Quadruplex; One-story; Resale property; East of US-1 road frontage
• Construction: CBS construction; Tar/gravel roof; Built with a concrete block structure
• Exterior features: Open porch; Porch

Interior

• Flooring: Tile
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Tile flooring

What this means for you Summary

Snapshot

• This is a 1×2bd/1ba + 3×1bd/1ba units multifamily listed at $760k.

Deal economics

• At list price, monthly cash flow is $3k ($35k/yr) — positive. Per door: $734/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $760k).
• Recommended offer: $714k (6.0% below list) — sets the bar for market timing.

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: Northmore Elementary School (math 34% / reading 29%, grade F, #1,841 of 2,144 statewide, top 86%, 628 students, 73% FRL); John F. Kennedy Middle School (math 28% / reading 29%, grade F, #482 of 571 statewide, top 85%, 826 students, 78% FRL); Palm Beach Lakes High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 2,688 students, 70% 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 27% at this address vs 50% district-wide (-22 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 (+3.1%/yr); 305 active listings in the ZIP; 28 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $23k 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 + 3.1% rent growth), your $213k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($714k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y 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 $362k; list at $760k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $714,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% 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 1954 — 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: 1.34% ✓
• Cap rate: 10.93%
• Cash-on-cash: 16.55%
• DSCR: 1.74
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.08% rent growth · sell at horizon

5-year hold

• IRR: 7.8%
• Equity multiple: 1.30×
• Total profit: $64,674
• Equity at exit: $113,318

10-year hold

• IRR: 17.1%
• Equity multiple: 2.41×
• Total profit: $300,616
• Equity at exit: $65,711

Cash invested: $212,800 (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 33407

• Rents YoY: 3.1%
• Active inventory: 305
• Price-to-rent: 22.2×

Monthly cashflow live

• Estimated rent: $10,149 medium
• Mortgage (P&I): −$3,986
• Tax from tax record: −$780 /mo · $9,361/yr
• Insurance: −$317
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,131
• Net cashflow: $2,935

Break-even live

Break-even rent $6,433

Max offer price $760,000

Occupancy floor 66%

Sensitivity live

Price	-10% $3,366	-5% $3,151	+0% $2,935	+5% $2,720	+10% $2,505
Rent	-10% $2,134	-5% $2,535	+0% $2,935	+5% $3,336	+10% $3,737
Rate	-1.0pp $3,318	-0.5pp $3,129	base $2,935	+0.5pp $2,739	+1.0pp $2,538

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$2,853
▸ 3× units	1	1	$7,296
Total (4 units)			$10,149

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: $190,000
• Closing costs: $22,800
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5203 N Flagler Dr West Palm Beach, FL	3.0	1.5	1458	$6,000	$4.12	25d	1	0.22mi
5301 N Flagler Dr West Palm Beach, FL	4.0	3.0	1616	$6,000	$3.71	25d	1	0.26mi
401 42nd St West Palm Beach, FL	3.0	1.0	1400	$4,950	$3.54	16d	1	0.32mi
629 56th St West Palm Beach, FL	4.0	2.0	1689	$3,100	$1.84	16d	1	0.44mi
5605 Pinewood Ave West Palm Beach, FL	4.0	2.0	1440	$3,500	$2.43	0d	1	0.47mi
436 38th St West Palm Beach, FL	4.0	3.0	1479	$6,500	$4.39	25d	1	0.53mi
619 37th St West Palm Beach, FL	3.0	2.0	1414	$3,350	$2.37	25d	1	0.57mi
701 37th St West Palm Beach, FL	3.0	2.0	1426	$3,600	$2.52	25d	1	0.60mi
409 35th St West Palm Beach, FL	3.0	2.0	2496	$7,000	$2.80	20d	1	0.68mi
3808 Westview Ave West Palm Beach, FL	4.0	3.0	1617	$3,100	$1.92	25d	1	0.71mi
406 35th St West Palm Beach, FL	3.0	2.0	1835	$8,000	$4.36	25d	1	0.72mi
400 33rd St West Palm Beach, FL	4.0	4.0	2758	$11,000	$3.99	25d	1	0.83mi
511 32nd St West Palm Beach, FL	4.0	3.5	2052	$18,500	$9.02	6d	1	0.85mi
216 32nd St West Palm Beach, FL	3.0	3.0	1846	$6,200	$3.36	25d	1	0.94mi
202 32nd St West Palm Beach, FL	3.0	2.0	1636	$5,995	$3.66	25d	1	0.95mi
419 30th St West Palm Beach, FL	3.0	2.5	2104	$7,700	$3.66	25d	1	0.97mi
266 Colonial Ln Palm Beach, FL	3.0	2.5	2012	$45,000	$22.37	25d	1	0.97mi
241 List Rd Palm Beach, FL	4.0	3.5	2843	$30,000	$10.55	25d	1	1.03mi
230 Osceola Way Palm Beach, FL	4.0	3.0	2225	$45,000	$20.22	25d	1	1.04mi
230 Osceola Way Palm Beach, FL	3.0	3.0	2225	$30,000	$13.48	23d	1	1.04mi
119 Seagate Rd Palm Beach, FL	3.0	3.0	1513	$45,000	$29.74	25d	1	1.16mi
411 26th St West Palm Beach, FL	3.0	3.5	1847	$6,900	$3.74	9d	1	1.22mi
411 26th St West Palm Beach, FL	4.0	3.5	1847	$6,900	$3.74	25d	1	1.22mi
2800 N Flagler Dr #404 West Palm Beach, FL	3.0	3.0	2063	$7,200	$3.49	25d	1	1.24mi
1563 40th St West Palm Beach, FL	4.0	2.0	1680	$3,600	$2.14	5d	1	1.27mi
1537 39th St West Palm Beach, FL	5.0	3.0	2463	$4,800	$1.95	25d	1	1.28mi
323 Arabian Rd Palm Beach, FL	4.0	3.5	2862	$27,500	$9.61	25d	1	1.28mi
107 E Inlet Dr Palm Beach, FL	4.0	5.0	2807	$65,000	$23.16	25d	1	1.46mi

Listing history 37 events

1. 2026-06-21
   days on market $760,000 Active 79 DOM
2. 2026-06-18
   days on market $760,000 Active 76 DOM
3. 2026-06-17
   days on market $760,000 Active 75 DOM
4. 2026-06-16
   days on market $760,000 Active 74 DOM
5. 2026-06-15
   days on market $760,000 Active 73 DOM
6. 2026-06-13
   days on market $760,000 Active 71 DOM
7. 2026-06-09
   days on market $760,000 Active 67 DOM
8. 2026-06-08
   days on market $760,000 Active 66 DOM
9. 2026-06-07
   days on market $760,000 Active 65 DOM
10. 2026-06-04
    days on market $760,000 Active 62 DOM
11. 2026-06-03
    days on market $760,000 Active 61 DOM
12. 2026-06-02
    days on market $760,000 Active 60 DOM
13. 2026-06-01
    days on market $760,000 Active 59 DOM
14. 2026-05-31
    days on market $760,000 Active 58 DOM
15. 2026-04-03
    listed $760,000 Active
16. 2025-10-18
    historical
17. 2025-07-28
    status Active
18. 2025-05-31
    status Pending
19. 2025-04-17
    listed $735,000 Active
20. 2023-11-21
    historical $1,625
21. 2023-11-08
    listed $1,625
22. 2019-11-27
    soldstatus $362,000
23. 2019-11-08
    soldstatus $362,000 Closed 324-char remark

    Show marketing remark (324 chars)

    Turnkey, CBS, Multi Family property located in the Opportunity Zone. Featuring one 2/1 and three 1/1 with central A. C. There is a washer and dryer with a laundry room. Current income $42,000 annually with a projected income of $52,800 annually. Current cap rate is 8.49% & projected cap rate is 9.99% with new rents.

24. 2019-10-15
    status Pending 324-char remark

    Show marketing remark (324 chars)

    Turnkey, CBS, Multi Family property located in the Opportunity Zone. Featuring one 2/1 and three 1/1 with central A. C. There is a washer and dryer with a laundry room. Current income $42,000 annually with a projected income of $52,800 annually. Current cap rate is 8.49% & projected cap rate is 9.99% with new rents.

25. 2019-10-02
    listed $399,900 Active 324-char remark

    Show marketing remark (324 chars)

    Turnkey, CBS, Multi Family property located in the Opportunity Zone. Featuring one 2/1 and three 1/1 with central A. C. There is a washer and dryer with a laundry room. Current income $42,000 annually with a projected income of $52,800 annually. Current cap rate is 8.49% & projected cap rate is 9.99% with new rents.

26. 2011-03-03
    soldstatus $70,000
27. 2011-02-28
    soldstatus $70,000
28. 2011-02-21
    historical
29. 2010-04-28
    listed $89,900
30. 2006-12-18
    historical
31. 2006-12-14
    soldstatus $355,000
32. 2006-10-18
    listed $399,000
33. 2005-08-19
    soldstatus $279,000
34. 2003-02-26
    soldstatus $230,000
35. 2002-09-06
    soldstatus $100,000
36. 1999-10-25
    soldstatus $115,000
37. 1997-03-05
    soldstatus $87,500

ⓘ 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: $9,361 · $780/mo
• Projected year-2 tax: $9,361 · $780/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) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 26 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: $121,788
• − Mortgage interest: −$42,572
• − Property taxes: −$9,361
• − Insurance: −$3,800
• − Repairs & maintenance: −$9,743
• − Management: −$9,743
• − Depreciation: −$22,109
• Taxable income: $24,460
• Est. tax owed @ 24.0%: −$5,870
• After-tax cash flow: $29,355/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): 34,851
• Household income: $59,993
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 2157.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Black 54% White 21% Hispanic / Latino 20% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 2%
• Common ancestry: Hispanic 8% Lithuanian 1% Romanian 1%
• Foreign-born: 26% · Canada, Vietnam, Jamaica
• Languages at home: 72% English-only · Spanish 17% French/Haitian/Cajun 8% 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: ▼ -299.26%
• Current HPI: 363.3995
• Rent YoY: ▲ 3.08%
• 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

+768.6% since first listed

23 events — show timeline

• 2026-04-03 Listed $760,000 Beaches MLS
• 2025-10-18 Listing Removed — Beaches MLS
• 2025-07-28 Relisted — Beaches MLS
• 2025-05-31 Pending — Beaches MLS
• 2025-04-17 Listed $735,000 Beaches MLS
• 2023-11-21 Rental Removed $1,625 RMLSFL
• 2023-11-08 Listed for Rent $1,625 RMLSFL
• 2019-11-27 Sold (Public Records) $362,000 Public Records
• 2019-11-08 Sold (MLS) $362,000 Beaches MLS
• 2019-10-15 Pending — Beaches MLS
• 2019-10-02 Listed $399,900 Beaches MLS
• 2011-03-03 Sold (Public Records) $70,000 Public Records
• 2011-02-28 Sold (MLS) $70,000 Beaches MLS
• 2011-02-21 Listing Removed — Beaches MLS
• 2010-04-28 Listed $89,900 Beaches MLS
• 2006-12-18 Listing Removed — Beaches MLS
• 2006-12-14 Sold (Public Records) $355,000 Public Records
• 2006-10-18 Listed $399,000 Beaches MLS
• 2005-08-19 Sold (Public Records) $279,000 Public Records
• 2003-02-26 Sold (Public Records) $230,000 Public Records
• 2002-09-06 Sold (Public Records) $100,000 Public Records
• 1999-10-25 Sold (Public Records) $115,000 Public Records
• 1997-03-05 Sold (Public Records) $87,500 Public Records

Property tax history

+10.9%/yr

Latest (2025): $9,361 · +1.0% YoY. Source: county tax records.