968 W 9th St · Riviera Beach, FL 33404

$475,000

4 bd · 2.0 ba · 1,248 sqft · MultiFamily · 142 Days on market

Built 1962

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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 +26.2/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

BEAUTIFUL DUPLEX FOR SALE! 2 BEDROOMS 1 BATH , PER UNIT, IN RIVIERA BEACH, TILE FLOOR, GOOD KITCHEN, NICE BACKYARD, SPACE TO PARK YOUR CAR. GREAT INVESTMENT OPPORTUNITY!!BOTH UNITS RENTED. $1450 A MONTH EACH!. TOTAL $2900.

Key facts

• Renovated duplex
• Updated kitchen
• Granite countertops

Tags

• RENOVATED DUPLEX
• CORNER LOT
• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• FULLY REMODELED BATHROOMS

Property features AI

Finance

• Other: Green/energy-efficient features for appliances, construction, HVAC, lighting, water heater, and windows
• Financial info: Property configured as two 2-bedroom/1-bath units (each unit unfurnished)

Exterior

• Parking: Two parking spaces
• Utilities: Public water; Public sewer; Cable not available
• Home design: Single-story; Resale property
• Construction: Block construction; Shingle roof
• Exterior features: Private pool; Lot smaller than a quarter acre

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Other appliances included
• Bedrooms: Two bedrooms (each unit)
• Bathrooms: One full bathroom (each unit)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Impact glass windows; Smoke detectors
• Laundry & utility: Electric meter

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $475k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $529/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $475k).
• Recommended offer: $418k (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; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $5,687/mo this rent would consume 105% 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 $3k of loan paydown is wiped out by about $14k 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 142 days — a 12% lower offer ($418k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y ago; this cycle's ask has dropped $75k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $364k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); 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 $418,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 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 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.20% ✓
• Cap rate: 9.35%
• Cash-on-cash: 10.92%
• DSCR: 1.49
• GRM: 7.0

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: -5.4%
• Equity multiple: 0.80×
• Total profit: $-26,068
• Equity at exit: $70,824

10-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $393
• Equity at exit: $41,069

Cash invested: $133,000 (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 33404

• Home prices YoY: -31.1%
• Rents YoY: -0.7%
• Active inventory: 506
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $5,687 medium
• Mortgage (P&I): −$2,491
• Tax est. 1.5%: −$594 /mo · $7,125/yr
• Insurance: −$198
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,194
• Net cashflow: $1,058

Break-even live

Break-even rent $4,348

Max offer price $475,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,686
Total (2 units)			$5,687

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1401 W 9th St Riviera Beach, FL	3.0	2.0	1304	$3,200	$2.45	24d	1	0.40mi
522 W 2nd St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	24d	1	0.55mi
65 W 16th St Apt 1 Riviera Beach, FL	4.0	2.0	1232	$3,500	$2.84	16d	1	0.83mi
65 W 16th St Apt 1 Riviera Beach, FL	4.0	2.0	1200	$3,500	$2.92	7d	1	0.83mi
2016 Avenue S Riviera Beach, FL	4.0	3.0	1128	$3,800	$3.37	24d	1	1.01mi
520 W 28th St Riviera Beach, FL	3.0	1.0	1296	$6,000	$4.63	2d	1	1.12mi
5649 Mentmore Dr Riviera Beach, FL	3.0	2.5	1450	$2,900	$2.00	24d	1	1.16mi
5600 N Flagler Dr West Palm Beach, FL	1.0–3.0	2.0	1192	$6,000	$5.03	20d	8	1.22mi
5101 Spruce Ave West Palm Beach, FL	3.0	3.0	1151	$3,100	$2.69	24d	1	1.24mi
1400 W 28th St Unit 1 Riviera Beach, FL	4.0	2.0	1100	$3,200	$2.91	24d	1	1.24mi
424 51st St Unit 426 West Palm Beach, FL	3.0	2.0	1230	$3,500	$2.85	10d	1	1.25mi
5203 N Flagler Dr West Palm Beach, FL	3.0	1.5	1458	$6,000	$4.12	24d	1	1.27mi
901 W 37th St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	24d	1	1.48mi

Listing history 25 events

1. 2026-06-18
   days on market $475,000 Active 142 DOM
2. 2026-06-17
   days on market $475,000 Active 141 DOM
3. 2026-06-16
   days on market $475,000 Active 140 DOM
4. 2026-06-15
   days on market $475,000 Active 139 DOM
5. 2026-06-13
   days on market $475,000 Active 137 DOM
6. 2026-06-09
   days on market $475,000 Active 133 DOM
7. 2026-06-07
   days on market $475,000 Active 131 DOM
8. 2026-06-04
   days on market $475,000 Active 128 DOM
9. 2026-06-03
   pricedays on market $475,000 Active 127 DOM
10. 2026-06-01
    days on market $499,000 Active 125 DOM
11. 2026-05-31
    days on market $499,000 Active 124 DOM
12. 2026-04-29
    price $499,000
13. 2026-03-09
    price $525,000
14. 2026-01-27
    listed $550,000 Active
15. 2024-10-28
    soldstatus $364,500 Closed 222-char remark

    Show marketing remark (222 chars)

    BEAUTIFUL DUPLEX FOR SALE! 2 BEDROOMS 1 BATH , PER UNIT, IN RIVIERA BEACH, TILE FLOOR, GOOD KITCHEN, NICE BACKYARD, SPACE TO PARK YOUR CAR. GREAT INVESTMENT OPPORTUNITY!!BOTH UNITS RENTED. $1450 A MONTH EACH!. TOTAL $2900.

16. 2024-09-30
    historical 222-char remark

    Show marketing remark (222 chars)

    BEAUTIFUL DUPLEX FOR SALE! 2 BEDROOMS 1 BATH , PER UNIT, IN RIVIERA BEACH, TILE FLOOR, GOOD KITCHEN, NICE BACKYARD, SPACE TO PARK YOUR CAR. GREAT INVESTMENT OPPORTUNITY!!BOTH UNITS RENTED. $1450 A MONTH EACH!. TOTAL $2900.

17. 2024-05-31
    listed $369,000 Active 222-char remark

    Show marketing remark (222 chars)

    BEAUTIFUL DUPLEX FOR SALE! 2 BEDROOMS 1 BATH , PER UNIT, IN RIVIERA BEACH, TILE FLOOR, GOOD KITCHEN, NICE BACKYARD, SPACE TO PARK YOUR CAR. GREAT INVESTMENT OPPORTUNITY!!BOTH UNITS RENTED. $1450 A MONTH EACH!. TOTAL $2900.

18. 2024-05-31
    historical

    Show marketing remark (222 chars)

    BEAUTIFUL DUPLEX FOR SALE! 2 BEDROOMS 1 BATH , PER UNIT, IN RIVIERA BEACH, TILE FLOOR, GOOD KITCHEN, NICE BACKYARD, SPACE TO PARK YOUR CAR. GREAT INVESTMENT OPPORTUNITY!!BOTH UNITS RENTED. $1450 A MONTH EACH!. TOTAL $2900.

19. 2024-05-16
    price $369,000
20. 2024-05-06
    price $370,000
21. 2024-03-28
    listed $400,000 Active
22. 2020-01-24
    historical
23. 2019-01-24
    listed $250,000 Active
24. 2014-01-28
    historical
25. 2013-09-27
    listed $79,900 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 5/10 Major FEMA zone AH · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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: $68,244
• − Mortgage interest: −$26,607
• − Property taxes: −$7,125
• − Insurance: −$4,200
• − Repairs & maintenance: −$5,460
• − Management: −$5,460
• − Depreciation: −$13,818
• Taxable income: $5,575
• Est. tax owed @ 24.0%: −$1,338
• After-tax cash flow: $11,359/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

+524.5% since first listed

14 events — show timeline

• 2026-04-29 Price Changed $499,000 MARMLS
• 2026-03-09 Price Changed $525,000 MARMLS
• 2026-01-27 Listed $550,000 MARMLS
• 2024-10-28 Sold (MLS) $364,500 MARMLS
• 2024-09-30 Listing Removed — MARMLS
• 2024-05-31 Listing Removed — MARMLS
• 2024-05-31 Listed $369,000 MARMLS
• 2024-05-16 Price Changed $369,000 MARMLS
• 2024-05-06 Price Changed $370,000 MARMLS
• 2024-03-28 Listed $400,000 MARMLS
• 2020-01-24 Listing Removed — MARMLS
• 2019-01-24 Listed $250,000 MARMLS
• 2014-01-28 Listing Removed — Beaches MLS
• 2013-09-27 Listed $79,900 Beaches MLS