805 20th St Unit A,b,c · West Palm Beach, FL 33407

$700,000

None bd · 4.0 ba · 2,716 sqft · MultiFamily · 135 Days on market

Built 1929 5,756 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Rare investment opportunity with a front single-family home (3/1, approx. 1,600 SF) and a two-story duplex in the rear. Duplex includes a 4/2 upstairs $2,000 per month lease expires 6/30/27. 3/1 downstairs $1,800 until April 2027. Front house leased for $2,400 month-to-month creating flexibility for rental increases or future redevelopment. Total rents up to $6,200 or more. Front home features A/C (2018), . Rear units include newer wall A/Cs and water heater (2016). Below-market rents provide built-in value-add. Drive-by only--please do not disturb tenants. According to the West Palm Housing Authority, market rates for a 3-bedroom unit are $2,590 and for a 4-bedroom unit are $3,130. Addit

Key facts

• Two-story duplex
• Shared water meter
• Newer wall a/cs

Tags

• FRONT SINGLE-FAMILY HOME
• TWO-STORY DUPLEX
• NEWER WALL A/CS
• THREE SEPARATE ELECTRIC METERS
• SHARED WATER METER
• MINUTES FROM THE INTRACOASTAL

Property features AI

Finance

• Financial info: 3 total units; Gross income reported at $72,600; Net operating income reported at $62,800; Tenants pay cable TV and electricity; Pets allowed with breed restrictions

Exterior

• Utilities: Public water; Three-phase electric; Water available; 4 separate electric meters
• Home design: Triplex; 2 stories; Resale property
• Construction: Composition roof; Building area approximately 2,944 total (2,716 living area)
• Exterior features: Open porch; Porch

Interior

• Flooring: Vinyl
• Bathrooms: 4 bathrooms total
• Heating & cooling: Central heating; Window/wall heating; Central air conditioning; Wall/window air conditioning units
• Interior features: Vinyl flooring

What this means for you Summary

Snapshot

• This is a ?-bed/4.0-bath multifamily listed at $700k.

Deal economics

• At list price, monthly cash flow is $8k ($94k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $700k).
• Recommended offer: $616k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.7% 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: Pleasant City Elementary School (math 27% / reading 27%, grade F, #1,969 of 2,144 statewide, top 94%, 330 students, 94% FRL); Roosevelt Middle School (math 31% / reading 39%, grade F, #416 of 571 statewide, top 74%, 851 students, 80% 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 81% FRL vs 52% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% 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); 306 active listings in the ZIP; 14 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 $21k 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 $196k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($616k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1929 — 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 $616,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — 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. 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.
7. 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.
8. 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: 2.29% ✓
• Cap rate: 19.74%
• Cash-on-cash: 48.01%
• DSCR: 3.14
• GRM: 3.6

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: 45.6%
• Equity multiple: 2.98×
• Total profit: $387,563
• Equity at exit: $104,372

10-year hold

• IRR: 51.5%
• Equity multiple: 6.04×
• Total profit: $986,914
• Equity at exit: $60,523

Cash invested: $196,000 (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 33407

• Rents YoY: 3.1%
• Active inventory: 306
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $16,050 high
• Mortgage (P&I): −$3,671
• Tax est. 1.5%: −$875 /mo · $10,500/yr
• Insurance: −$292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,370
• Net cashflow: $7,842

Break-even live

Break-even rent $6,123

Max offer price $700,000

Occupancy floor 46%

Sensitivity live

Price	-10% $8,326	-5% $8,084	+0% $7,842	+5% $7,600	+10% $7,358
Rent	-10% $6,574	-5% $7,208	+0% $7,842	+5% $8,476	+10% $9,110
Rate	-1.0pp $8,194	-0.5pp $8,020	base $7,842	+0.5pp $7,661	+1.0pp $7,476

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$8,298
▸ 2× units	4	2	$7,752
Total (4 units)			$16,050

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: $175,000
• Closing costs: $21,000
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 26th St West Palm Beach, FL	3.0	3.5	1847	$6,900	$3.74	9d	1	0.50mi
1617 N Flagler Dr Unit 9B West Palm Beach, FL	2.0	2.5	1817	$8,900	$4.90	15d	1	0.66mi
419 30th St West Palm Beach, FL	3.0	2.5	2104	$7,700	$3.66	25d	1	0.68mi
2800 N Flagler Dr #404 West Palm Beach, FL	3.0	3.0	2063	$7,200	$3.49	25d	1	0.72mi
216 32nd St West Palm Beach, FL	3.0	3.0	1846	$6,200	$3.36	25d	1	0.87mi
406 35th St West Palm Beach, FL	3.0	2.0	1835	$8,000	$4.36	25d	1	0.90mi
409 35th St West Palm Beach, FL	3.0	2.0	2496	$7,000	$2.80	20d	1	0.93mi
575 N Lake Way Palm Beach, FL	3.0	4.5	3038	$25,000	$8.23	25d	1	1.27mi
400 N Flagler Dr #2003 West Palm Beach, FL	2.0	2.0	1797	$25,000	$13.91	25d	1	1.29mi
400 N Flagler Dr #2004 West Palm Beach, FL	2.0	2.0	1797	$25,000	$13.91	4d	1	1.29mi
264 Everglade Ave Palm Beach, FL	3.0	4.5	2903	$40,000	$13.78	25d	1	1.40mi
245 Everglade Ave Palm Beach, FL	3.0	3.5	3505	$35,000	$9.99	25d	1	1.43mi
101 N Clematis St West Palm Beach, FL	1.0–4.0	1.5–4.5	1906	$12,400	$6.50	25d	2	1.43mi
300 S Australian Ave #125 West Palm Beach, FL	2.0	2.5	1871	$7,000	$3.74	12d	1	1.48mi

Listing history 21 events

1. 2026-06-21
   days on market $700,000 Active 135 DOM
2. 2026-06-18
   days on market $700,000 Active 132 DOM
3. 2026-06-17
   days on market $700,000 Active 131 DOM
4. 2026-06-16
   days on market $700,000 Active 130 DOM
5. 2026-06-15
   days on market $700,000 Active 129 DOM
6. 2026-06-13
   days on market $700,000 Active 127 DOM
7. 2026-06-09
   days on market $700,000 Active 123 DOM
8. 2026-06-07
   days on market $700,000 Active 121 DOM
9. 2026-06-04
   days on market $700,000 Active 118 DOM
10. 2026-06-03
    days on market $700,000 Active 117 DOM
11. 2026-06-01
    days on market $700,000 Active 115 DOM
12. 2026-05-31
    days on market $700,000 Active 114 DOM
13. 2026-02-06
    historical
14. 2026-02-06
    listed $700,000 Active
15. 2025-11-27
    price $700,000
16. 2025-11-14
    price $725,000
17. 2025-03-19
    price $750,000
18. 2025-02-05
    historical
19. 2025-02-05
    listed $825,000 Active
20. 2024-11-18
    price $850,000
21. 2024-11-18
    listed $8,500,000 Active

ⓘ 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 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: $192,600
• − Mortgage interest: −$39,211
• − Property taxes: −$10,500
• − Insurance: −$3,500
• − Repairs & maintenance: −$15,408
• − Management: −$15,408
• − Depreciation: −$20,364
• Taxable income: $88,209
• Est. tax owed @ 24.0%: −$21,170
• After-tax cash flow: $72,933/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

-91.8% since first listed

9 events — show timeline

• 2026-02-06 Listing Removed — Beaches MLS
• 2026-02-06 Listed $700,000 Beaches MLS
• 2025-11-27 Price Changed $700,000 Beaches MLS
• 2025-11-14 Price Changed $725,000 Beaches MLS
• 2025-03-19 Price Changed $750,000 Beaches MLS
• 2025-02-05 Listed $825,000 Beaches MLS
• 2025-02-05 Listing Removed — Beaches MLS
• 2024-11-18 Price Changed $850,000 Beaches MLS
• 2024-11-18 Listed $8,500,000 Beaches MLS