1230 W 23rd St · Riviera Beach, FL 33404

$305,000

3 bd · 2.0 ba · 1,662 sqft · SingleFamily public records · 370 Days on market

Built 1970

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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
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• 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

Listing remarks

Nice 4/2 home available in Riviera Beach! Spacious floor plan with 1662 sq ft of living area. Tile throughout. Close to shopping and only 10 minutes to the beach. Long term tenant in place with flexibility.

Key facts

• Tile throughout
• Close to shopping
• Built 1970

Tags

• TILE THROUGHOUT
• CLOSE TO SHOPPING
• 10 MINUTES TO THE BEACH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $305k.

Deal economics

• At list price, monthly cash flow is $562 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $305k).
• Recommended offer: $268k (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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $3,340/mo this rent would consume 62% 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 $9k 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 370 days — a 12% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $84k (22%) 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 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $268,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 370 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 1970 — 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 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: 1.09% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.89%
• DSCR: 1.35
• GRM: 7.6

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: -7.7%
• Equity multiple: 0.73×
• Total profit: $-23,416
• Equity at exit: $45,476

10-year hold

• IRR: -2.4%
• Equity multiple: 0.86×
• Total profit: $-12,037
• Equity at exit: $26,371

Cash invested: $85,400 (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: 7.6×

Monthly cashflow live

• Estimated rent: $3,340 high
• Mortgage (P&I): −$1,599
• Tax from tax record: −$350 /mo · $4,204/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$701
• Net cashflow: $562

Break-even live

Break-even rent $2,629

Max offer price $305,000

Occupancy floor 78%

Sensitivity live

Price	-10% $734	-5% $648	+0% $562	+5% $475	+10% $389
Rent	-10% $298	-5% $430	+0% $562	+5% $693	+10% $825
Rate	-1.0pp $715	-0.5pp $639	base $562	+0.5pp $482	+1.0pp $402

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1400 W 28th St Unit 1 Riviera Beach, FL	4.0	2.0	1100	$3,200	$2.91	25d	1	0.31mi
2016 Avenue S Riviera Beach, FL	4.0	3.0	1128	$3,800	$3.37	25d	1	0.39mi
1389 W 33rd St Riviera Beach, FL	4.0	3.0	1737	$3,000	$1.73	25d	1	0.51mi
1401 W 9th St Riviera Beach, FL	3.0	2.0	1304	$3,200	$2.45	25d	1	0.81mi
520 W 28th St Riviera Beach, FL	3.0	1.0	1296	$6,000	$4.63	3d	1	0.81mi
815 Silver Beach Rd Lake Park, FL	4.0	3.0	1480	$3,000	$2.03	25d	1	0.86mi
2226 Oakmont Dr Riviera Beach, FL	3.0	2.5	1972	$2,850	$1.45	25d	1	0.99mi
855 Date Palm Dr West Palm Beach, FL	3.0	3.0	1216	$3,150	$2.59	25d	1	1.03mi
65 W 16th St Apt 1 Riviera Beach, FL	4.0	2.0	1232	$3,500	$2.84	17d	1	1.23mi
65 W 16th St Apt 1 Riviera Beach, FL	4.0	2.0	1200	$3,500	$2.92	8d	1	1.23mi
111 W 35th St Riviera Beach, FL	4.0	2.0	1600	$3,000	$1.88	12d	1	1.28mi
135 E 28th St Riviera Beach, FL	4.0	2.0	1711	$3,200	$1.87	25d	1	1.39mi
158 E 23rd St Riviera Beach, FL	2.0	2.0	1110	$2,900	$2.61	23d	1	1.40mi
158 E 23rd St Riviera Beach, FL	2.0	2.0	1110	$2,900	$2.61	25d	1	1.40mi

Listing history 24 events

1. 2026-04-21
   status Pending
2. 2026-04-13
   status Active
3. 2026-03-24
   status Pending
4. 2026-03-16
   price $305,000
5. 2026-02-09
   price $315,000
6. 2026-02-04
   status Active
7. 2026-02-01
   historical
8. 2026-01-12
   price $325,000
9. 2025-12-11
   price $345,000
10. 2025-09-24
    price $359,000
11. 2025-05-13
    price $369,000
12. 2025-04-25
    price $379,000
13. 2025-03-24
    listed $389,000 Active
14. 2020-07-02
    soldstatus $360,000
15. 2016-09-02
    soldstatus $270,800
16. 2015-12-01
    historical
17. 2015-11-19
    soldstatus $50,000
18. 2015-10-30
    price $75,000
19. 2015-10-26
    price $88,000
20. 2015-07-10
    price $89,000
21. 2015-06-25
    price $95,000
22. 2015-02-12
    price $105,000
23. 2015-02-11
    price $113,000
24. 2014-12-13
    listed $114,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $4,204 · $350/mo
• Projected year-2 tax: $4,204 · $350/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $40,077
• − Mortgage interest: −$17,085
• − Property taxes: −$4,204
• − Insurance: −$1,525
• − Repairs & maintenance: −$3,206
• − Management: −$3,206
• − Depreciation: −$8,873
• Taxable income: $1,978
• Est. tax owed @ 24.0%: −$475
• After-tax cash flow: $6,263/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

+167.5% since first listed

24 events — show timeline

• 2026-04-21 Pending — Beaches MLS
• 2026-04-13 Relisted — Beaches MLS
• 2026-03-24 Pending — Beaches MLS
• 2026-03-16 Price Changed $305,000 Beaches MLS
• 2026-02-09 Price Changed $315,000 Beaches MLS
• 2026-02-04 Relisted — Beaches MLS
• 2026-02-01 Listing Removed — Beaches MLS
• 2026-01-12 Price Changed $325,000 Beaches MLS
• 2025-12-11 Price Changed $345,000 Beaches MLS
• 2025-09-24 Price Changed $359,000 Beaches MLS
• 2025-05-13 Price Changed $369,000 Beaches MLS
• 2025-04-25 Price Changed $379,000 Beaches MLS
• 2025-03-24 Listed $389,000 Beaches MLS
• 2020-07-02 Sold (Public Records) $360,000 Public Records
• 2016-09-02 Sold (Public Records) $270,800 Public Records
• 2015-12-01 Listing Removed — MARMLS
• 2015-11-19 Sold (Public Records) $50,000 Public Records
• 2015-10-30 Price Changed $75,000 MARMLS
• 2015-10-26 Price Changed $88,000 MARMLS
• 2015-07-10 Price Changed $89,000 MARMLS
• 2015-06-25 Price Changed $95,000 MARMLS
• 2015-02-12 Price Changed $105,000 MARMLS
• 2015-02-11 Price Changed $113,000 MARMLS
• 2014-12-13 Listed $114,000 MARMLS

Property tax history

+17.9%/yr

Latest (2025): $4,204 · +8.2% YoY. Source: county tax records.