Casa Marina - Elite Plan · Riviera Beach, FL 33404

$179,900

2 bd · 2.0 ba · 1,408 sqft · Manufactured · 184 Days on market

Excellent condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

55+ age qualified community. We work with multiple lenders to provide you financing options. Inquire today to learn how to purchase with as little as 5% down! BRAND NEW HOME AVAILABLE! Welcome to Palm Lake Estates, a vibrant 55+ active community where comfort, style, and convenience come together. This stunning 2025 2-bedroom, 2-bath home offers 1,408 sq. ft. of thoughtfully designed living space. Located near Riviera Beach, it perfectly combines modern features with timeless charm. Step inside to enjoy an open-concept layout with high ceilings, natural light, and quality finishes throughout. The adjective kitchen features quartz countertops, stainless steel appliances, and custom cabinetr

Key facts

• Fitness center
• Private backyard
• Resort style pool

Tags

• OPEN CONCEPT LAYOUT
• PRIVATE BACKYARD
• COVERED PATIO
• LOW MAINTENANCE LANDSCAPING
• RESORT STYLE POOL
• FITNESS CENTER

Property features AI

Finance

• Other: Active listing; Virtual tour available
• Financial info: List price: $179,900

Exterior

• Home design: New construction plan; Address: West Palm Beach, FL (Casa Marina - Elite Plan)
• Exterior features: Living area: 1408 (listed)

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Plan model: Casa Marina - Elite

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $180k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $158k (12.0% 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: Grove Park Elementary School (math 33% / reading 33%, grade F, #1,773 of 2,144 statewide, top 83%, 511 students, 79% 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 73% FRL vs 52% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% at this address vs 50% district-wide (-19 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; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 27d 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 $2,952/mo this rent would consume 54% 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 $1k of loan paydown is wiped out by about $5k 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 + 0.0% rent growth), your $50k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 184 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

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 $158,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.64% ✓
• Cap rate: 13.56%
• Cash-on-cash: 25.94%
• DSCR: 2.15
• GRM: 5.1

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: 16.2%
• Equity multiple: 1.63×
• Total profit: $31,592
• Equity at exit: $26,824

10-year hold

• IRR: 22.5%
• Equity multiple: 2.66×
• Total profit: $83,556
• Equity at exit: $15,554

Cash invested: $50,372 (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: 5.1×

Monthly cashflow live

• Estimated rent: $2,952 high
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$620
• Net cashflow: $1,089

Break-even live

Break-even rent $1,574

Max offer price $179,900

Occupancy floor 58%

Sensitivity live

Price	-10% $1,213	-5% $1,151	+0% $1,089	+5% $1,027	+10% $965
Rent	-10% $856	-5% $972	+0% $1,089	+5% $1,205	+10% $1,322
Rate	-1.0pp $1,179	-0.5pp $1,135	base $1,089	+0.5pp $1,042	+1.0pp $995

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2022 Oysterwood Ln Riviera Beach, FL	3.0	3.5	1714	$2,900	$1.69	26d	1	0.32mi
3016 King Palm Way Riviera Beach, FL	3.0	2.5	1853	$3,800	$2.05	26d	1	0.34mi
9000 Woodbine Trl Riviera Beach, FL	1.0–3.0	1.0–2.0	1031	$2,356	$2.29	1d	1	0.54mi
1107 Big Torch St Riviera Beach, FL	3.0	2.0	1670	$3,500	$2.10	1d	1	0.84mi
321 Sandtree Dr Palm Beach Gardens, FL	3.0	2.5	1480	$3,000	$2.03	13d	1	1.40mi
321 Sandtree Dr Palm Beach Gardens, FL	3.0	2.5	1480	$3,000	$2.03	26d	1	1.40mi
8617 Pluto Ter West Palm Beach, FL	3.0	2.0	1560	$3,999	$2.56	26d	1	1.46mi
4289 S Mary Cir Palm Beach Gardens, FL	2.0	2.0	1246	$2,850	$2.29	26d	1	1.50mi

Listing history 12 events

1. 2026-06-21
   days on market $179,900 Active 184 DOM
2. 2026-06-18
   days on market $179,900 Active 181 DOM
3. 2026-06-17
   days on market $179,900 Active 180 DOM
4. 2026-06-16
   days on market $179,900 Active 179 DOM
5. 2026-06-15
   days on market $179,900 Active 178 DOM
6. 2026-06-13
   days on market $179,900 Active 176 DOM
7. 2026-06-09
   days on market $179,900 Active 172 DOM
8. 2026-06-07
   days on market $179,900 Active 170 DOM
9. 2026-06-04
   days on market $179,900 Active 167 DOM
10. 2026-06-03
    days on market $179,900 Active 166 DOM
11. 2026-06-01
    days on market $179,900 Active 164 DOM
12. 2026-05-31
    days on market $179,900 Active 163 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $35,424
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$2,834
• − Management: −$2,834
• − Depreciation: −$5,233
• Taxable income: $10,848
• Est. tax owed @ 24.0%: −$2,603
• After-tax cash flow: $10,463/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.

Condition & rehab AI · 13 photos

Excellent 95/100 None rehab

This 2025 manufactured home in Palm Lake Estates is in excellent condition with no visible repairs needed. It offers a modern and well-maintained living space, perfect for both resale and rental markets.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances both resale and rental value.
• Both Painting exterior and interior walls — Fresh paint can make a significant impact on curb appeal and interior aesthetics.
• Both Landscaping and pool maintenance — Maintaining the pool and landscaping can attract more potential buyers and renters.
• Both HVAC maintenance and tune-up — Ensures the HVAC system is running efficiently and can prevent costly repairs in the future.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances both resale and rental value. ↑
• Both Painting exterior and interior walls — Fresh paint can make a significant impact on curb appeal and interior aesthetics. ↑
• Both Landscaping and pool maintenance — Maintaining the pool and landscaping can attract more potential buyers and renters. ↑
• Both HVAC maintenance and tune-up — Ensures the HVAC system is running efficiently and can prevent costly repairs in the future. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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