1935 Gardenia Ct #1935 · Riviera Beach, FL 33404

$234,000

2 bd · 2.5 ba · 1,227 sqft · Townhouse · 627 Days on market

Built 2006 $452/mo HOA · 14% of rent ↓ 9% since listing

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Why this score? — see what drove the C 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 +23.4/30.0
• 1% rule +8.5/10.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 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

Rented until December 31st 2026 at $1,850 per month (read Broker remarks). Very low HOA fee. Very spacious 2 stories townhome, with 2 bedrooms, 2 full bathrooms upstairs and 1/2 bathroom downstairs. Freshly painted and ready to become your home! 2006 construction, great community in a very convenient location. Lots of amenities. Everything in working condition. Send your offer before we rent it! FHA, VA, CONVENTIONAL, CASH Welcome. * * * AGENTS SEE BROKER REMARKS * * * Video tour link available upon request.

Key facts

• $452 HOA
• 2 parking spots
• Community pool

Property features AI

Finance

• Financial info: Pets allowed with restrictions/conditions
• HOA & community: Monthly association fee; Association fees cover amenities, common areas, structure maintenance, pool(s) and roof; Community amenities include clubhouse, fitness center, barbecue, picnic area, playground, pool and tennis courts

Exterior

• Parking: Guest parking available; Two or more parking spaces
• Security: Complex fenced
• Utilities: Electric cooling and heating
• Home design: Attached property; 2 stories; Entry on level 1
• Construction: Block construction; Resale property
• Exterior features: Patio; Association pool; Complex is fenced

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal; Electric water heater
• Flooring: Carpet; Ceramic tile; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: First-floor entry; Other interior features
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $234k.

Deal economics

• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $234k).
• Recommended offer: $206k (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.
• Market conditions: Rents soft (-0.7%/yr); 506 active listings in the ZIP; 6 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 $3,169/mo this rent would consume 58% 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 627 days — a 12% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $23k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 627 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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: 1.35% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.95%
• DSCR: 1.35
• GRM: 6.2

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: -8.3%
• Equity multiple: 0.71×
• Total profit: $-19,228
• Equity at exit: $34,890

10-year hold

• IRR: -4.4%
• Equity multiple: 0.76×
• Total profit: $-15,704
• Equity at exit: $20,232

Cash invested: $65,520 (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: $3,169 high
• Mortgage (P&I): −$1,227
• Tax est. 1.5%: −$292 /mo · $3,510/yr
• Insurance: −$98
• HOA: −$452
• Vacancy / Maint / Mgmt: −$665
• Net cashflow: $434

Break-even live

Break-even rent $2,619

Max offer price $234,000

Occupancy floor 81%

Sensitivity live

Price	-10% $596	-5% $515	+0% $434	+5% $353	+10% $272
Rent	-10% $184	-5% $309	+0% $434	+5% $559	+10% $684
Rate	-1.0pp $552	-0.5pp $494	base $434	+0.5pp $374	+1.0pp $312

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: $58,500
• Closing costs: $7,020
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
855 Date Palm Dr West Palm Beach, FL	3.0	3.0	1216	$3,150	$2.59	25d	1	0.92mi
901 W 37th St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	25d	1	1.01mi
8731 Uranus Ter West Palm Beach, FL	2.0	1.0	900	$3,200	$3.56	25d	1	1.06mi
321 Sandtree Dr Palm Beach Gardens, FL	3.0	2.5	1480	$3,000	$2.03	12d	1	1.11mi
321 Sandtree Dr Palm Beach Gardens, FL	3.0	2.5	1480	$3,000	$2.03	25d	1	1.11mi
520 W 28th St Riviera Beach, FL	3.0	1.0	1296	$6,000	$4.63	4d	1	1.39mi

HOA detail

• Monthly dues: $452 · $5,424/yr

Listing history 23 events

1. 2026-06-21
   days on market $234,000 Active 627 DOM
2. 2026-06-18
   days on market $234,000 Active 624 DOM
3. 2026-06-17
   days on market $234,000 Active 623 DOM
4. 2026-06-16
   days on market $234,000 Active 622 DOM
5. 2026-06-15
   days on market $234,000 Active 621 DOM
6. 2026-06-13
   days on market $234,000 Active 619 DOM
7. 2026-06-09
   days on market $234,000 Active 615 DOM
8. 2026-06-07
   days on market $234,000 Active 613 DOM
9. 2026-06-04
   days on market $234,000 Active 610 DOM
10. 2026-06-03
    days on market $234,000 Active 609 DOM
11. 2026-06-01
    days on market $234,000 Active 607 DOM
12. 2026-05-31
    days on market $234,000 Active 606 DOM
13. 2026-05-09
    status Active
14. 2026-03-11
    price $234,000
15. 2025-10-07
    price $235,000
16. 2025-10-02
    status Active
17. 2025-09-28
    historical Active Under Contract
18. 2025-05-09
    status Active
19. 2025-04-25
    price $230,000
20. 2025-04-08
    historical Active Under Contract
21. 2024-11-15
    price $240,000
22. 2024-10-22
    price $245,000
23. 2024-10-01
    listed $257,000 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 6 d/yr ≥106°F today · 20 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: $38,024
• − Mortgage interest: −$13,108
• − Property taxes: −$3,510
• − Insurance: −$1,170
• − Repairs & maintenance: −$3,042
• − Management: −$3,042
• − HOA: −$5,424
• − Depreciation: −$6,807
• Taxable income: $1,921
• Est. tax owed @ 24.0%: −$461
• After-tax cash flow: $4,748/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

-8.9% since first listed

11 events — show timeline

• 2026-05-09 Relisted — MARMLS
• 2026-03-11 Price Changed $234,000 MARMLS
• 2025-10-07 Price Changed $235,000 MARMLS
• 2025-10-02 Relisted — MARMLS
• 2025-09-28 Contingent — MARMLS
• 2025-05-09 Relisted — MARMLS
• 2025-04-25 Price Changed $230,000 MARMLS
• 2025-04-08 Contingent — MARMLS
• 2024-11-15 Price Changed $240,000 MARMLS
• 2024-10-22 Price Changed $245,000 MARMLS
• 2024-10-01 Listed $257,000 MARMLS