840 W 2nd St · Riviera Beach, FL 33404

$183,500

2 bd · 1.0 ba · 933 sqft · SingleFamily public records · 238 Days on market

Built 1950 4,959 sqft lot ↓ 27% 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
• 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 has multiple offers and has requested HIGHEST AND BEST with a current due date of 4/29/2026 11:59:00 PM Mountain Time. The kitchen appears to have experienced a stovetop fire, resulting in discoloration to the walls, ceiling and cabinetry. The bathroom is in poor condition and requires remodeling. Located in a designated Opportunity Zone, this property offers valuable tax advantages for the savvy investor. Spacious backyard, Perfect for out door enjoyment. Conveniently located near schools, shopping, and the beach.

Key facts

• Spacious backyard
• 4,959 sq ft lot
• 2 parking spots

Tags

• SPACIOUS BACKYARD

Property features AI

Exterior

• Parking: Two open parking spaces
• Utilities: Public water; Public sewer; Three-phase electric; Sewer available; Water available
• Home design: Single-family residence; One story; Faces south; Resale condition
• Construction: Concrete/CBS construction; Other construction materials
• Exterior features: Not waterfront; No waterfront features

Interior

• Bedrooms: Two bedrooms on the main level
• Flooring: Other flooring
• Bathrooms: One full bathroom
• Heating & cooling: Central heating; Other heating; Central air conditioning; Other cooling
• Interior features: Unfurnished; No notable interior features listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $184k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $184k).
• Recommended offer: $161k (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.
• Zoned schools: West Riviera Elementary School (math 26% / reading 22%, grade F, #2,057 of 2,144 statewide, top 96%, 487 students, 83% FRL); Howell L. Watkins Middle School (math 18% / reading 33%, grade F, #512 of 571 statewide, top 90%, 794 students, 76% FRL); William T. Dwyer High School (math 36% / reading 58%, grade D-, #207 of 667 statewide, top 32%, 2,206 students, 37% FRL).
• Zoned-school proficiency averages 32% at this address vs 50% district-wide (-17 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; 12 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 $3,465/mo this rent would consume 64% 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 $1k of loan paydown is wiped out by about $6k 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 + 0.0% rent growth), your $51k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 238 days — a 12% lower offer ($161k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $62k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $161,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 238 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.89% ✓
• Cap rate: 14.84%
• Cash-on-cash: 30.53%
• DSCR: 2.36
• GRM: 4.4

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: 21.6%
• Equity multiple: 1.85×
• Total profit: $43,510
• Equity at exit: $27,360

10-year hold

• IRR: 27.5%
• Equity multiple: 3.07×
• Total profit: $106,458
• Equity at exit: $15,866

Cash invested: $51,380 (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: 4.4×

Monthly cashflow live

• Estimated rent: $3,465 high
• Mortgage (P&I): −$962
• Tax from tax record: −$391 /mo · $4,696/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$728
• Net cashflow: $1,307

Break-even live

Break-even rent $1,810

Max offer price $183,500

Occupancy floor 57%

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: $45,875
• Closing costs: $5,505
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
522 W 2nd St Riviera Beach, FL	3.0	1.0	900	$2,895	$3.22	24d	1	0.32mi
436 51st St West Palm Beach, FL	2.0	1.0	968	$3,750	$3.87	24d	1	0.93mi
4444 N Flagler Dr West Palm Beach, FL	1.0	1.0	765	$4,613	$6.03	2d	1	1.25mi
4444 N Flagler Dr West Palm Beach, FL	1.0	1.0	765	$5,263	$6.88	16d	1	1.25mi
4444 N Flagler Dr Unit 4334-2008 West Palm Beach, FL	1.0	1.0	885	$4,150	$4.69	24d	1	1.26mi
4444 N Flagler Dr Unit 4444-306 West Palm Beach, FL	1.0	1.0	925	$3,395	$3.67	24d	1	1.26mi
401 42nd St West Palm Beach, FL	3.0	1.0	1100	$4,950	$4.50	24d	1	1.27mi
158 E 23rd St Riviera Beach, FL	2.0	2.0	1110	$2,900	$2.61	24d	1	1.42mi
158 E 23rd St Riviera Beach, FL	2.0	2.0	1110	$2,900	$2.61	21d	1	1.42mi
3940 N Flagler Dr #206 West Palm Beach, FL	1.0	1.0	1078	$3,950	$3.66	3d	1	1.49mi
3940 N Flagler Dr #206 West Palm Beach, FL	1.0	1.0	1078	$3,950	$3.66	4d	1	1.49mi
3940 N Flagler Dr #206 West Palm Beach, FL	1.0	1.0	1078	$4,950	$4.59	24d	1	1.49mi

Listing history 38 events

1. 2026-06-18
   days on market $183,500 Active 238 DOM
2. 2026-06-17
   days on market $183,500 Active 237 DOM
3. 2026-06-16
   days on market $183,500 Active 236 DOM
4. 2026-06-15
   days on market $183,500 Active 235 DOM
5. 2026-06-13
   days on market $183,500 Active 233 DOM
6. 2026-06-09
   days on market $183,500 Active 229 DOM
7. 2026-06-07
   days on market $183,500 Active 227 DOM
8. 2026-06-04
   days on market $183,500 Active 224 DOM
9. 2026-06-03
   days on market $183,500 Active 223 DOM
10. 2026-06-01
    days on market $183,500 Active 221 DOM
11. 2026-05-31
    days on market $183,500 Active 220 DOM
12. 2026-05-20
    status Pending
13. 2026-04-22
    status Active
14. 2026-02-26
    historical Active Under Contract
15. 2026-02-24
    status Active
16. 2026-02-23
    status Pending
17. 2026-02-22
    price $183,500
18. 2025-12-22
    price $199,260
19. 2025-11-19
    price $221,400
20. 2025-10-15
    listed $246,000 Active
21. 2025-06-11
    historical
22. 2025-05-12
    listed $225,000 Active
23. 2025-04-19
    historical
24. 2024-11-18
    price $275,000
25. 2024-10-16
    price $265,000
26. 2024-09-25
    price $280,000
27. 2024-08-16
    price $230,000
28. 2024-08-13
    price $240,000
29. 2024-07-20
    price $260,000
30. 2024-07-18
    price $246,000
31. 2024-07-17
    price $260,000
32. 2024-06-25
    price $275,000
33. 2024-05-17
    price $265,000
34. 2024-05-16
    price $270,000
35. 2024-05-14
    price $275,000
36. 2024-05-14
    status Active
37. 2024-05-07
    historical Active Under Contract
38. 2024-04-22
    listed $250,000 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: $4,696 · $391/mo
• Projected year-2 tax: $4,696 · $391/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 ≥105°F today · 25 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: $41,577
• − Mortgage interest: −$10,279
• − Property taxes: −$4,696
• − Insurance: −$918
• − Repairs & maintenance: −$3,326
• − Management: −$3,326
• − Depreciation: −$5,338
• Taxable income: $13,694
• Est. tax owed @ 24.0%: −$3,287
• After-tax cash flow: $12,398/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

-26.6% since first listed

27 events — show timeline

• 2026-05-20 Pending — Beaches MLS
• 2026-04-22 Relisted — Beaches MLS
• 2026-02-26 Contingent — Beaches MLS
• 2026-02-24 Relisted — Beaches MLS
• 2026-02-23 Pending — Beaches MLS
• 2026-02-22 Price Changed $183,500 Beaches MLS
• 2025-12-22 Price Changed $199,260 Beaches MLS
• 2025-11-19 Price Changed $221,400 Beaches MLS
• 2025-10-15 Listed $246,000 Beaches MLS
• 2025-06-11 Listing Removed — Beaches MLS
• 2025-05-12 Listed $225,000 Beaches MLS
• 2025-04-19 Listing Removed — Beaches MLS
• 2024-11-18 Price Changed $275,000 Beaches MLS
• 2024-10-16 Price Changed $265,000 Beaches MLS
• 2024-09-25 Price Changed $280,000 Beaches MLS
• 2024-08-16 Price Changed $230,000 Beaches MLS
• 2024-08-13 Price Changed $240,000 Beaches MLS
• 2024-07-20 Price Changed $260,000 Beaches MLS
• 2024-07-18 Price Changed $246,000 Beaches MLS
• 2024-07-17 Price Changed $260,000 Beaches MLS
• 2024-06-25 Price Changed $275,000 Beaches MLS
• 2024-05-17 Price Changed $265,000 Beaches MLS
• 2024-05-16 Price Changed $270,000 Beaches MLS
• 2024-05-14 Price Changed $275,000 Beaches MLS
• 2024-05-14 Relisted — Beaches MLS
• 2024-05-07 Contingent — Beaches MLS
• 2024-04-22 Listed $250,000 Beaches MLS

Property tax history

+23.1%/yr

Latest (2025): $4,696 · +6.7% YoY. Source: county tax records.