940 W 36th St #1 · Riviera Beach, FL 33404

$419,000

4 bd · 2.0 ba · 1,680 sqft · Condo public records · 91 Days on market

Built 1980

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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 +20.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +4.8/10.0
• 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

Seller Financing Available - Flexible Opportunity. Seller financing offered with 15% down, 6.5% interest, amortized over 30 years with a balloon payment (only negotiable term); all other terms fixed. Well-maintained CBS duplex investment property featuring two 2BR/1BA units with separate electric and water meters and 4 total parking spaces (2 per unit). Fully leased with stable income: Unit #1 rents for $1,500/month (lease ends 1/1/2027) and Unit #2 rents for $1,691/month (lease ends 11/1/2026), totaling $3,191/month ($38,292 annually). Security deposits held by landlord; rent due on the 1st. Property features updated windows, 2019 roof, and brand-new central A/C in Unit #1. Each unit inclu

Key facts

• Brand new a/c
• Updated windows
• Roof installed

Tags

• CBS DUPLEX
• UPDATED WINDOWS
• ROOF INSTALLED
• CENTRAL A/C
• BRAND NEW A/C
• WASHER AND DRYER HOOKUPS

Property features AI

Finance

• Financial info: Two-unit property; Gross income reported: $38,292; Net operating income reported: $27,292; Tenants pay cable TV, electricity, sewer and water; Pets allowed (restrictions possible)

Exterior

• Utilities: Public water; Public sewer; Three-phase electric service; Cable available; Separate electric meters for each unit (2); Separate water meters for each unit (2)
• Home design: Duplex; Single-story; Resale property; Located west of US-1
• Construction: Stucco and CBS construction; Composition roof; Building area approx. 1,720 total
• Exterior features: Paved road frontage; Not waterfront; Lot approx. 50 ft x 115 ft

Interior

• Flooring: Ceramic tile
• Bathrooms: 2 total bathrooms
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Ceramic tile flooring

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath condo listed at $419k.

Deal economics

• At list price, monthly cash flow is $551 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $411k (1.9% below list).
• Recommended offer: $381k (9.0% 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.
• Zoned schools: Lincoln Elementary School (math 31% / reading 29%, grade F, #1,882 of 2,144 statewide, top 88%, 358 students, 84% FRL); John F. Kennedy Middle School (math 28% / reading 29%, grade F, #482 of 571 statewide, top 85%, 826 students, 78% FRL); Palm Beach Gardens High School (math 19% / reading 40%, grade F, #447 of 667 statewide, top 68%, 2,570 students, 61% FRL) — zoned schools average 74% FRL vs 52% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 29% at this address vs 50% district-wide (-20 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.7%/yr); 506 active listings in the ZIP; 31 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 $4,108/mo this rent would consume 76% 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 $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.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($381k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 16% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $41k; list at $419k implies a 922% gain — meaningful room to come down on a strong offer.

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 $381,290 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 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: 0.98% ✗
• Cap rate: 7.87%
• Cash-on-cash: 5.64%
• DSCR: 1.25
• GRM: 8.5

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: -10.8%
• Equity multiple: 0.62×
• Total profit: $-44,874
• Equity at exit: $62,474

10-year hold

• IRR: -6.2%
• Equity multiple: 0.65×
• Total profit: $-40,630
• Equity at exit: $36,227

Cash invested: $117,320 (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: 8.5×

Monthly cashflow live

• Estimated rent: $4,108 high
• Mortgage (P&I): −$2,197
• Tax from tax record: −$322 /mo · $3,868/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$863
• Net cashflow: $551

Break-even live

Break-even rent $3,410

Max offer price $419,000

Occupancy floor 82%

Sensitivity live

Price	-10% $789	-5% $670	+0% $551	+5% $433	+10% $314
Rent	-10% $227	-5% $389	+0% $551	+5% $714	+10% $876
Rate	-1.0pp $762	-0.5pp $658	base $551	+0.5pp $443	+1.0pp $332

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: $104,750
• Closing costs: $12,570
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
815 Silver Beach Rd Lake Park, FL	4.0	3.0	1480	$3,000	$2.03	25d	1	0.17mi
855 Date Palm Dr West Palm Beach, FL	3.0	3.0	1216	$3,150	$2.59	25d	1	0.40mi
520 W 28th St Riviera Beach, FL	3.0	1.0	1296	$6,000	$4.63	4d	1	0.52mi
1389 W 33rd St Riviera Beach, FL	4.0	3.0	1737	$3,000	$1.73	25d	1	0.52mi
1400 W 28th St Unit 1 Riviera Beach, FL	4.0	2.0	1100	$3,200	$2.91	25d	1	0.63mi
111 W 35th St Riviera Beach, FL	4.0	2.0	1600	$3,000	$1.88	12d	1	0.70mi
250 Foresteria Dr West Palm Beach, FL	4.0	3.0	2080	$11,500	$5.53	21d	1	0.77mi
301 Hawthorne Dr West Palm Beach, FL	3.0	2.0	1402	$3,200	$2.28	25d	1	0.87mi
220 Lake Shore Dr Lake Park, FL	1.0–3.0	1.5–3.5	2134	$25,000	$11.72	0d	19	0.93mi
135 E 28th St Riviera Beach, FL	4.0	2.0	1711	$3,200	$1.87	25d	1	1.05mi
2016 Avenue S Riviera Beach, FL	4.0	3.0	1128	$3,800	$3.37	25d	1	1.12mi
2226 Oakmont Dr Riviera Beach, FL	3.0	2.5	1972	$2,850	$1.45	25d	1	1.13mi
360 Wilma Cir #7 Riviera Beach, FL	3.0	2.0	1590	$4,500	$2.83	25d	1	1.23mi
65 W 16th St Apt 1 Riviera Beach, FL	4.0	2.0	1232	$3,500	$2.84	17d	1	1.26mi
65 W 16th St Apt 1 Riviera Beach, FL	4.0	2.0	1200	$3,500	$2.92	8d	1	1.26mi
2650 Lake Shore Dr #804 Riviera Beach, FL	3.0	3.5	1704	$4,500	$2.64	25d	1	1.28mi
2650 Lake Shore Dr #1003 Riviera Beach, FL	3.0	3.0	1788	$4,200	$2.35	25d	1	1.28mi
2650 Lake Shore Dr #2303 Riviera Beach, FL	3.0	3.0	1537	$4,950	$3.22	25d	1	1.28mi
2650 Lake Shore Dr #803 Riviera Beach, FL	3.0	3.0	1800	$5,000	$2.78	25d	1	1.28mi
2650 Lake Shore Dr #2403 Riviera Beach, FL	3.0	3.0	1788	$6,000	$3.36	25d	1	1.28mi
2650 Lake Shore Dr #1203 Riviera Beach, FL	3.0	3.0	1803	$4,250	$2.36	25d	1	1.28mi
2640 Lake Shore Dr #711 Riviera Beach, FL	3.0	3.0	1848	$5,500	$2.98	25d	1	1.29mi
2640 Lake Shore Dr #1716 Riviera Beach, FL	3.0	3.0	1538	$9,500	$6.18	25d	1	1.29mi
2640 Lake Shore Dr Riviera Beach, FL	3.0	3.0	1715	$5,500	$3.21	25d	1	1.30mi
620 Southwind Cir Unit A North Palm Beach, FL	3.0	2.0	1697	$4,200	$2.47	25d	1	1.35mi
624 Southwind Cir Apt 4 North Palm Beach, FL	3.0	2.0	1134	$4,750	$4.19	25d	1	1.35mi
624 Southwind Cir Unit 3 North Palm Beach, FL	3.0	3.0	1316	$5,500	$4.18	25d	1	1.35mi
561 Anchorage Dr North Palm Beach, FL	3.0	2.0	1924	$5,900	$3.07	0d	1	1.38mi
2545 Conroy Dr West Palm Beach, FL	3.0	2.0	1066	$3,295	$3.09	25d	1	1.46mi
2573 Conroy Dr West Palm Beach, FL	5.0	3.0	2153	$5,950	$2.76	25d	1	1.47mi
1401 W 9th St Riviera Beach, FL	3.0	2.0	1304	$3,200	$2.45	25d	1	1.48mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: waterelectricsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-21
   days on market $419,000 Active 91 DOM
2. 2026-06-18
   days on market $419,000 Active 88 DOM
3. 2026-06-17
   days on market $419,000 Active 87 DOM
4. 2026-06-16
   days on market $419,000 Active 86 DOM
5. 2026-06-15
   days on market $419,000 Active 85 DOM
6. 2026-06-13
   days on market $419,000 Active 83 DOM
7. 2026-06-09
   days on market $419,000 Active 79 DOM
8. 2026-06-08
   days on market $419,000 Active 78 DOM
9. 2026-06-07
   days on market $419,000 Active 77 DOM
10. 2026-06-04
    days on market $419,000 Active 74 DOM
11. 2026-06-03
    days on market $419,000 Active 73 DOM
12. 2026-06-02
    days on market $419,000 Active 72 DOM
13. 2026-06-01
    days on market $419,000 Active 71 DOM
14. 2026-05-31
    days on market $419,000 Active 70 DOM
15. 2026-05-20
    status Pending
16. 2026-05-03
    price $419,000
17. 2026-03-27
    status Active
18. 2026-03-27
    price $389,900
19. 2026-03-20
    status Pending
20. 2026-03-06
    listed $360,000 Active
21. 1995-08-29
    soldstatus $41,000

ⓘ 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: $3,868 · $322/mo
• Projected year-2 tax: $3,868 · $322/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: $49,301
• − Mortgage interest: −$23,471
• − Property taxes: −$3,868
• − Insurance: −$2,095
• − Repairs & maintenance: −$3,944
• − Management: −$3,944
• − Depreciation: −$12,189
• Taxable loss: −$209
• Est. tax savings @ 24.0%: +$50
• After-tax cash flow: $6,668/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

+922.0% since first listed

7 events — show timeline

• 2026-05-20 Pending — Beaches MLS
• 2026-05-03 Price Changed $419,000 Beaches MLS
• 2026-03-27 Relisted — Beaches MLS
• 2026-03-27 Price Changed $389,900 Beaches MLS
• 2026-03-20 Pending — Beaches MLS
• 2026-03-06 Listed $360,000 Beaches MLS
• 1995-08-29 Sold (Public Records) $41,000 Public Records

Property tax history

+9.6%/yr

Latest (2025): $3,868 · +11.1% YoY. Source: county tax records.