652 Bayberry Dr · Lake Park, FL 33403

$420,000

None bd · 6.0 ba · 1,647 sqft · MultiFamily · 455 Days on market

Built 1956 ↓ 15% since listing

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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
• Rent growth +4.0/5.0
• Livability +3.4/5.0
• 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: 2 units. confirmed

Listing remarks

Fantastic duplex available in Lake Park. This is an ideal rental property or potential house hack opportunity. Directly across from the park. Excellent location close to the beach, I95, and shopping/dining.

Key facts

• Rental property
• Duplex
• Built 1956

Tags

• DUPLEX
• RENTAL PROPERTY
• HOUSE HACK OPPORTUNITY
• LOCATION CLOSE TO BEACH
• LOCATION CLOSE TO SHOPPING

Property features AI

Finance

• Financial info: 2 total units; Gross income reported at $40,200; Net operating income reported at $22,857; Tenants responsible for cable TV, electricity, sewer, and water; 2 units in the community
• HOA & community: Community amenities include basketball court, baseball/softball field, and sidewalks

Exterior

• Utilities: Public water; Public sewer; Three-phase electric; Sewer and water available
• Home design: Duplex; Resale condition; West of US-1 road frontage
• Construction: CBS construction; Composition roof
• Exterior features: Open patio; Patio

Interior

• Flooring: Ceramic tile; Vinyl
• Bathrooms: 3 bathrooms total
• Heating & cooling: Electric central individual heating; Central individual cooling; Wall/window units
• Interior features: Ceramic tile and vinyl flooring

What this means for you Summary

Snapshot

• This is a 2 × 2.0-bed/1.0-bath units multifamily listed at $420k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $420k).
• Recommended offer: $370k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#542 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: crime F, amenities F, commute 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 rising fast (+6.0%/yr); 134 active listings in the ZIP; 33 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 $6,736/mo this rent would consume 114% of the median local household income ($71k/yr) (locally 903% 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 $3k of loan paydown is wiped out by about $13k 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 + 6.0% rent growth), your $118k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 455 days — a 12% lower offer ($370k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $130k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• 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 $369,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 455 days. Have you received any prior offers? Is the seller open to a 12% 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 1956 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
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: 1.60% ✓
• Cap rate: 13.20%
• Cash-on-cash: 24.68%
• DSCR: 2.10
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.97% rent growth · sell at horizon

5-year hold

• IRR: 21.4%
• Equity multiple: 1.91×
• Total profit: $106,832
• Equity at exit: $62,623

10-year hold

• IRR: 31.4%
• Equity multiple: 4.25×
• Total profit: $382,224
• Equity at exit: $36,314

Cash invested: $117,600 (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 33403

• Home prices YoY: -19.6%
• Rents YoY: 6.0%
• Active inventory: 134
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $6,736 high
• Mortgage (P&I): −$2,203
• Tax est. 1.5%: −$525 /mo · $6,300/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,415
• Net cashflow: $2,419

Break-even live

Break-even rent $3,674

Max offer price $420,000

Occupancy floor 59%

Sensitivity live

Price	-10% $2,709	-5% $2,564	+0% $2,419	+5% $2,274	+10% $2,129
Rent	-10% $1,887	-5% $2,153	+0% $2,419	+5% $2,685	+10% $2,951
Rate	-1.0pp $2,630	-0.5pp $2,526	base $2,419	+0.5pp $2,310	+1.0pp $2,199

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

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1	$6,736
Total (2 units)			$6,736

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: $105,000
• Closing costs: $12,600
• Reserves months: —
• Total cash needed: —

Rent comps 33 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	0.27mi
520 W 28th St Riviera Beach, FL	3.0	1.0	1296	$6,000	$4.63	4d	1	0.66mi
301 Hawthorne Dr West Palm Beach, FL	3.0	2.0	1402	$3,200	$2.28	25d	1	0.68mi
220 Lake Shore Dr Unit 304 Lake Park, FL	2.0	2.5	1911	$11,500	$6.02	25d	1	0.84mi
220 Lake Shore Dr Lake Park, FL	1.0–3.0	1.5–3.5	2134	$14,498	$6.79	0d	19	0.84mi
301 Lake Shore Dr #802 West Palm Beach, FL	2.0	2.0	1316	$3,000	$2.28	25d	1	0.90mi
913 Lake Shore Dr Lake Park, FL	1.0–2.0	1.0–2.0	1066	$3,731	$3.50	0d	10	0.96mi
308 Southwind Ct Unit 8 North Palm Beach, FL	2.0	2.0	1100	$2,900	$2.64	25d	1	1.00mi
1060 Lake Shore Dr #201 West Palm Beach, FL	2.0	2.0	1206	$3,850	$3.19	20d	1	1.12mi
410 Wilma Cir #103 Riviera Beach, FL	2.0	2.0	1056	$4,000	$3.79	16d	1	1.13mi
620 Southwind Cir Unit A North Palm Beach, FL	3.0	2.0	1697	$4,200	$2.47	25d	1	1.14mi
624 Southwind Cir Unit 3 North Palm Beach, FL	3.0	3.0	1316	$5,500	$4.18	25d	1	1.14mi
624 Southwind Cir Apt 4 North Palm Beach, FL	3.0	2.0	1134	$4,750	$4.19	25d	1	1.14mi
1155 Lake Shore Dr #202 West Palm Beach, FL	2.0	2.0	1206	$4,750	$3.94	25d	1	1.15mi
561 Anchorage Dr North Palm Beach, FL	3.0	2.0	1924	$5,900	$3.07	0d	1	1.16mi
2226 Oakmont Dr Riviera Beach, FL	3.0	2.5	1972	$2,850	$1.45	25d	1	1.20mi
158 E 23rd St Riviera Beach, FL	2.0	2.0	1110	$2,900	$2.61	23d	1	1.25mi
158 E 23rd St Riviera Beach, FL	2.0	2.0	1110	$2,900	$2.61	25d	1	1.25mi
360 Wilma Cir #7 Riviera Beach, FL	3.0	2.0	1590	$4,500	$2.83	25d	1	1.25mi
2545 Conroy Dr West Palm Beach, FL	3.0	2.0	1066	$3,295	$3.09	25d	1	1.29mi
549 Fairwind Dr North Palm Beach, FL	3.0	2.0	1498	$5,000	$3.34	25d	1	1.32mi
2650 Lake Shore Dr #1001 Riviera Beach, FL	2.0	2.0	1742	$3,800	$2.18	25d	1	1.32mi
2650 Lake Shore Dr #803 Riviera Beach, FL	3.0	3.0	1800	$5,000	$2.78	25d	1	1.32mi
2650 Lake Shore Dr #2303 Riviera Beach, FL	3.0	3.0	1537	$4,950	$3.22	25d	1	1.32mi
2650 Lake Shore Dr #804 Riviera Beach, FL	3.0	3.5	1704	$4,500	$2.64	25d	1	1.32mi
2650 Lake Shore Dr #1203 Riviera Beach, FL	3.0	3.0	1803	$4,250	$2.36	25d	1	1.32mi
2650 Lake Shore Dr #1003 Riviera Beach, FL	3.0	3.0	1788	$4,200	$2.35	25d	1	1.32mi
2650 Lake Shore Dr #2403 Riviera Beach, FL	3.0	3.0	1788	$6,000	$3.36	25d	1	1.32mi
2640 Lake Shore Dr #1716 Riviera Beach, FL	3.0	3.0	1538	$9,500	$6.18	25d	1	1.33mi
2640 Lake Shore Dr #2312 Riviera Beach, FL	2.0	2.0	1818	$6,500	$3.58	25d	1	1.33mi
2640 Lake Shore Dr #711 Riviera Beach, FL	3.0	3.0	1848	$5,500	$2.98	25d	1	1.33mi
2640 Lake Shore Dr Riviera Beach, FL	3.0	3.0	1715	$5,500	$3.21	25d	1	1.33mi
517 Gulf Rd North Palm Beach, FL	3.0	2.0	1657	$5,500	$3.32	25d	1	1.40mi

Listing history 30 events

1. 2026-06-21
   days on market $420,000 Active 455 DOM
2. 2026-06-18
   days on market $420,000 Active 452 DOM
3. 2026-06-17
   days on market $420,000 Active 451 DOM
4. 2026-06-16
   days on market $420,000 Active 450 DOM
5. 2026-06-15
   days on market $420,000 Active 449 DOM
6. 2026-06-13
   days on market $420,000 Active 447 DOM
7. 2026-06-09
   days on market $420,000 Active 443 DOM
8. 2026-06-07
   days on market $420,000 Active 441 DOM
9. 2026-06-04
   days on market $420,000 Active 438 DOM
10. 2026-06-03
    days on market $420,000 Active 437 DOM
11. 2026-06-01
    days on market $420,000 Active 435 DOM
12. 2026-05-31
    days on market $420,000 Active 434 DOM
13. 2026-05-11
    price $425,000
14. 2026-04-13
    status Active
15. 2026-04-13
    price $440,000
16. 2026-04-07
    historical Active Under Contract
17. 2026-03-16
    price $450,000
18. 2026-02-09
    price $465,000
19. 2026-02-04
    status Active
20. 2026-02-01
    historical
21. 2026-01-12
    price $479,000
22. 2025-12-11
    price $499,000
23. 2025-09-24
    price $515,000
24. 2025-05-13
    price $530,000
25. 2025-04-25
    price $540,000
26. 2025-03-20
    listed $550,000 Active
27. 2024-11-20
    historical
28. 2024-11-20
    status Active
29. 2024-09-13
    historical
30. 2024-07-30
    listed $499,000 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 ≥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: $80,832
• − Mortgage interest: −$23,527
• − Property taxes: −$6,300
• − Insurance: −$2,100
• − Repairs & maintenance: −$6,467
• − Management: −$6,467
• − Depreciation: −$12,218
• Taxable income: $23,754
• Est. tax owed @ 24.0%: −$5,701
• After-tax cash flow: $23,326/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 — Lake Park

• Score: 67/100
• State rank: #542
• US rank: #10167

Category grades

Amenities F Commute F Cost of living A- 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: Lake Park, FL
• County: Palm Beach County · 1,438,312 people
• City population: 14,370
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 14,370
• Household income: $70,646
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 903.0

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 0.67)
• Race & ethnicity: Black 46% White 31% Hispanic / Latino 17% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 5%
• Common ancestry: Hispanic 15% Italian 2% Romanian 1%
• Foreign-born: 26% · Canada, China, Jamaica
• Languages at home: 69% English-only · French/Haitian/Cajun 17% Spanish 12% Chinese 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: ▼ -112.30%
• Current HPI: 461.4045
• Rent YoY: ▲ 5.97%
• 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

-14.8% since first listed

18 events — show timeline

• 2026-05-11 Price Changed $425,000 Beaches MLS
• 2026-04-13 Relisted — Beaches MLS
• 2026-04-13 Price Changed $440,000 Beaches MLS
• 2026-04-07 Contingent — Beaches MLS
• 2026-03-16 Price Changed $450,000 Beaches MLS
• 2026-02-09 Price Changed $465,000 Beaches MLS
• 2026-02-04 Relisted — Beaches MLS
• 2026-02-01 Listing Removed — Beaches MLS
• 2026-01-12 Price Changed $479,000 Beaches MLS
• 2025-12-11 Price Changed $499,000 Beaches MLS
• 2025-09-24 Price Changed $515,000 Beaches MLS
• 2025-05-13 Price Changed $530,000 Beaches MLS
• 2025-04-25 Price Changed $540,000 Beaches MLS
• 2025-03-20 Listed $550,000 Beaches MLS
• 2024-11-20 Listing Removed — Beaches MLS
• 2024-11-20 Relisted — Beaches MLS
• 2024-09-13 Listing Removed — Beaches MLS
• 2024-07-30 Listed $499,000 Beaches MLS