688 SW 6th St · Belle Glade, FL 33430

$400,000

None bd · None ba · 2,748 sqft · MultiFamily · 50 Days on market

Built 1965 Poor condition

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Why this score? — see what drove the D- 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 +12.8/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• DSCR +3.8/10.0
• 1% rule +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• 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 MLS

AS-IS PROPERTY!! INVESTORS DREAM!! FOUR-PLEX 2/1 APARTMENTS. Prime & desirable location upcoming neighborhood, close to amenities, public transportation, schools, and business districts. Excellent Investment Opportunity the units have potential as a profitable investment, high occupancy rate, strong rental demand & potential for rent increases, opportunity for value appreciation, these units can convert into short-term rentals, co-living spaces, or mixed-use development. This is a value-add opportunity for buyers looking to increase the building capacity and add more units. There is room for expansion or additional development on the property. This apartment building has historical and architectural significance, it is a GEM to buy and preserve or own a unique piece of property. CASH ONLY!

Key facts

• Zoned r-2
• Centrally located
• Income producing

Tags

• MULTI-FAMILY PROPERTY
• INCOME PRODUCING
• STRONG RENTAL POTENTIAL
• ZONED R-2
• CENTRALLY LOCATED
• NEAR AMENITIES

Property features AI

Exterior

• Parking: 8 total parking spaces
• Utilities: Public sewer; Cable not available
• Home design: 2-story home; Effective year built listed; Shingle roof; Block construction; Zoned R2
• Construction: Block construction; Shingle roof; Effective year built listed
• Exterior features: Less than quarter acre lot; Canal-front waterfront

Interior

• Flooring: Laminate
• Heating & cooling: Wall furnace heating; Ceiling fan(s); Wall/window cooling units
• Interior features: Laminate flooring

What this means for you Summary

Snapshot

• This is a multifamily listed at $400k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-38 ($-456/yr) — negative.
• To cash-flow at today's rent, offer at most $394k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $345k (13.7% below list).
• Recommended offer: $345k (13.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#812 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, 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: 37 active listings in the ZIP; 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 $3k of loan paydown is wiped out by about $12k 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 50 days — a 3% lower offer ($388k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $270k; 48% 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $345,100 (13.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.86% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.41%
• DSCR: 0.98
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -17.0%
• Equity multiple: 0.40×
• Total profit: $-67,187
• Equity at exit: $59,641

10-year hold

• IRR: -8.8%
• Equity multiple: 0.45×
• Total profit: $-61,411
• Equity at exit: $34,585

Cash invested: $112,000 (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 33430

• Home prices YoY: -21.0%
• Active inventory: 37
• Price-to-rent: 38.6×

Monthly cashflow live

• Estimated rent: $3,451 high
• Mortgage (P&I): −$2,098
• Tax est. 1.5%: −$500 /mo · $6,000/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$725
• Net cashflow: $-38

Break-even live

Break-even rent $3,499

Max offer price $394,498

Occupancy floor 96%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,452
Total (4 units)			$3,451

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $400,000 Active 50 DOM
2. 2026-06-17
   days on market $400,000 Active 49 DOM
3. 2026-06-16
   days on market $400,000 Active 48 DOM
4. 2026-06-15
   days on market $400,000 Active 47 DOM
5. 2026-06-13
   days on market $400,000 Active 45 DOM
6. 2026-06-09
   days on market $400,000 Active 41 DOM
7. 2026-06-08
   days on market $400,000 Active 40 DOM
8. 2026-06-07
   remarks 640-char remark
9. 2026-06-07
   pricedays on market $400,000 Active 39 DOM
10. 2026-06-04
    days on market $415,000 Active 36 DOM
11. 2026-06-03
    days on market $415,000 Active 35 DOM
12. 2026-06-02
    days on market $415,000 Active 34 DOM
13. 2026-06-01
    days on market $415,000 Active 33 DOM
14. 2026-05-31
    days on market $415,000 Active 32 DOM
15. 2026-05-11
    price $415,000
16. 2026-04-29
    listed $425,000 Active
17. 2024-08-27
    soldstatus $270,000 Closed 812-char remark

    Show marketing remark (812 chars)

    AS-IS PROPERTY!! INVESTORS DREAM!! FOUR-PLEX 2/1 APARTMENTS. Prime & desirable location upcoming neighborhood, close to amenities, public transportation, schools, and business districts. Excellent Investment Opportunity the units have potential as a profitable investment, high occupancy rate, strong rental demand & potential for rent increases, opportunity for value appreciation, these units can convert into short-term rentals, co-living spaces, or mixed-use development. This is a value-add opportunity for buyers looking to increase the building capacity and add more units. There is room for expansion or additional development on the property. This apartment building has historical and architectural significance, it is a GEM to buy and preserve or own a unique piece of property. CASH ONLY!

18. 2024-06-07
    status Pending 812-char remark

    Show marketing remark (812 chars)

    AS-IS PROPERTY!! INVESTORS DREAM!! FOUR-PLEX 2/1 APARTMENTS. Prime & desirable location upcoming neighborhood, close to amenities, public transportation, schools, and business districts. Excellent Investment Opportunity the units have potential as a profitable investment, high occupancy rate, strong rental demand & potential for rent increases, opportunity for value appreciation, these units can convert into short-term rentals, co-living spaces, or mixed-use development. This is a value-add opportunity for buyers looking to increase the building capacity and add more units. There is room for expansion or additional development on the property. This apartment building has historical and architectural significance, it is a GEM to buy and preserve or own a unique piece of property. CASH ONLY!

19. 2024-06-01
    status Active 812-char remark

    Show marketing remark (812 chars)

    AS-IS PROPERTY!! INVESTORS DREAM!! FOUR-PLEX 2/1 APARTMENTS. Prime & desirable location upcoming neighborhood, close to amenities, public transportation, schools, and business districts. Excellent Investment Opportunity the units have potential as a profitable investment, high occupancy rate, strong rental demand & potential for rent increases, opportunity for value appreciation, these units can convert into short-term rentals, co-living spaces, or mixed-use development. This is a value-add opportunity for buyers looking to increase the building capacity and add more units. There is room for expansion or additional development on the property. This apartment building has historical and architectural significance, it is a GEM to buy and preserve or own a unique piece of property. CASH ONLY!

20. 2024-06-01
    price $285,000 812-char remark

    Show marketing remark (812 chars)

    AS-IS PROPERTY!! INVESTORS DREAM!! FOUR-PLEX 2/1 APARTMENTS. Prime & desirable location upcoming neighborhood, close to amenities, public transportation, schools, and business districts. Excellent Investment Opportunity the units have potential as a profitable investment, high occupancy rate, strong rental demand & potential for rent increases, opportunity for value appreciation, these units can convert into short-term rentals, co-living spaces, or mixed-use development. This is a value-add opportunity for buyers looking to increase the building capacity and add more units. There is room for expansion or additional development on the property. This apartment building has historical and architectural significance, it is a GEM to buy and preserve or own a unique piece of property. CASH ONLY!

21. 2024-01-28
    status Pending 812-char remark

    Show marketing remark (812 chars)

    AS-IS PROPERTY!! INVESTORS DREAM!! FOUR-PLEX 2/1 APARTMENTS. Prime & desirable location upcoming neighborhood, close to amenities, public transportation, schools, and business districts. Excellent Investment Opportunity the units have potential as a profitable investment, high occupancy rate, strong rental demand & potential for rent increases, opportunity for value appreciation, these units can convert into short-term rentals, co-living spaces, or mixed-use development. This is a value-add opportunity for buyers looking to increase the building capacity and add more units. There is room for expansion or additional development on the property. This apartment building has historical and architectural significance, it is a GEM to buy and preserve or own a unique piece of property. CASH ONLY!

22. 2023-12-19
    listed $310,000 Active 812-char remark

    Show marketing remark (812 chars)

    AS-IS PROPERTY!! INVESTORS DREAM!! FOUR-PLEX 2/1 APARTMENTS. Prime & desirable location upcoming neighborhood, close to amenities, public transportation, schools, and business districts. Excellent Investment Opportunity the units have potential as a profitable investment, high occupancy rate, strong rental demand & potential for rent increases, opportunity for value appreciation, these units can convert into short-term rentals, co-living spaces, or mixed-use development. This is a value-add opportunity for buyers looking to increase the building capacity and add more units. There is room for expansion or additional development on the property. This apartment building has historical and architectural significance, it is a GEM to buy and preserve or own a unique piece of property. CASH ONLY!

23. 2023-12-15
    historical
24. 2023-11-16
    historical
25. 2023-11-06
    status Active
26. 2023-08-19
    status Pending
27. 2023-08-16
    listed $310,000 Active
28. 2023-08-15
    listed $310,000 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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,412
• − Mortgage interest: −$22,406
• − Property taxes: −$6,000
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,313
• − Management: −$3,313
• − Depreciation: −$11,636
• Taxable loss: −$7,257
• Est. tax savings @ 24.0%: +$1,742
• After-tax cash flow: $1,285/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 · 1 photo

Poor 20/100 Extensive rehab

This four-unit multi-family property requires extensive repairs and renovations to bring it up to a livable and marketable condition.

Repairs flagged

• Major exterior siding — Significant damage and wear
• Major roof — No visible damage, but photos don't show
• Major interior walls/paint — No visible interior, but photos don't show
• Major bathrooms — No visible bathrooms, but photos don't show
• Major kitchen — No visible kitchen, but photos don't show
• Major systems — No visible systems, but photos don't show

Value-add opportunities

• Both exterior renovation — Improves curb appeal and rental value
• Both interior renovation — Enhances living space and rental potential
• Both roof repair — Ensures structural integrity and rental value
• Both exterior siding repair — Enhances curb appeal and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant damage and wear	Major	$15,000–50,000
roof · No visible damage, but photos don't show	Major	$15,000–50,000
interior walls/paint · No visible interior, but photos don't show	Major	$15,000–50,000
bathrooms · No visible bathrooms, but photos don't show	Major	$15,000–50,000
kitchen · No visible kitchen, but photos don't show	Major	$15,000–50,000
systems · No visible systems, but photos don't show	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both exterior renovation — Improves curb appeal and rental value ↑
• Both interior renovation — Enhances living space and rental potential ↑
• Both roof repair — Ensures structural integrity and rental value ↑
• Both exterior siding repair — Enhances curb appeal and rental value ↑

ⓘ 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 — Belle Glade

• Score: 59/100
• State rank: #812
• US rank: #19736

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A- Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belle Glade, FL
• Population (ZIP): 19,773

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 0.61)
• Race & ethnicity: Black 53% Hispanic / Latino 31% Two or more races 13% White 12% Asian 1%
• Hispanic origin (detail): Mexican 22% Puerto Rican 1% Cuban 4%
• Common ancestry: Hispanic 13%
• Foreign-born: 28% · Canada, Guatemala
• Languages at home: 56% English-only · Spanish 27% French/Haitian/Cajun 13% Arabic 3%

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: ▼ -76.12%
• Current HPI: 286.6788
• Rent YoY: —
• Metro: —
• 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

+33.9% since first listed

14 events — show timeline

• 2026-05-11 Price Changed $415,000 MARMLS
• 2026-04-29 Listed $425,000 MARMLS
• 2024-08-27 Sold (MLS) $270,000 MARMLS
• 2024-06-07 Pending — MARMLS
• 2024-06-01 Relisted — MARMLS
• 2024-06-01 Price Changed $285,000 MARMLS
• 2024-01-28 Pending — MARMLS
• 2023-12-19 Listed $310,000 MARMLS
• 2023-12-15 Listing Removed — MARMLS
• 2023-11-16 Listing Removed — MARMLS
• 2023-11-06 Relisted — MARMLS
• 2023-08-19 Pending — MARMLS
• 2023-08-16 Listed $310,000 MARMLS
• 2023-08-15 Listed $310,000 MARMLS