1008 N 18 Ave · Lake Worth Beach, FL 33460

$924,599

24 bd · 36.0 ba · 2,484 sqft · MultiFamily · 6 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 +22.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Schools +4.3/10.0
• Rent growth +3.4/5.0
• Livability +2.5/5.0
• 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: 4 units. confirmed

Listing remarks MLS

LOCATION!LOCATION!LOCATION! TURN KEY 4 UNITS APARTMEMNT COMPLEX WITH IN HOUSE LAUNDRY ROOM AND SEPERATE STORAGE ROOM. ALL HAVE SEPERATE ELECTRIC METERS, ALL UNITS WITH CENTRAL AIRCONDITIONERS, SEPERATE OUTSIDE SITTING AREA, ASSIGNED OFF STREET PARKING. UPDATED UNITS WITH LONG TERM TENANTS.SELLER WILL CONSIDER FINANCING PLEASE CONTACT ME FOR MORE DETAILS. 24 HOURS NOTICE TO SHOW. PLEASE DO NOT DISTURB TENANTS.

Key facts

• Four units
• Close to the beach
• Close to downtown

Tags

• MULTI-FAMILY PROPERTY
• CLOSE TO THE BEACH
• CLOSE TO DOWNTOWN
• FOUR UNITS

Property features AI

Finance

• Financial info: Income-producing multifamily property with four leased 1-bed/1-bath units; current rents listed at $1,800, $1,750, $1,650, and $1,650

Exterior

• Parking: Open parking with a total of 4 parking spaces
• Utilities: Public sewer; Cable not available
• Home design: Single-story building; Resale property; Zoning: SF-TF-14
• Construction: Block construction; Shingle roof
• Exterior features: Less than quarter acre lot

Interior

• Bedrooms: Four 1-bedroom units (each unit is leased)
• Flooring: Vinyl
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Vinyl flooring

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/9.0-bath units multifamily listed at $925k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $375/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $925k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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 (+3.5%/yr); 249 active listings in the ZIP; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $9,985/mo this rent would consume 193% of the median local household income ($62k/yr) (locally 2429% 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 $6k of loan paydown is wiped out by about $28k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $435k; list at $925k implies a 113% 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $924,599

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.08% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.95%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.53% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.81×
• Total profit: $-48,884
• Equity at exit: $137,861

10-year hold

• IRR: 5.3%
• Equity multiple: 1.40×
• Total profit: $103,138
• Equity at exit: $79,942

Cash invested: $258,888 (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 33460

• Rents YoY: 3.5%
• Active inventory: 249
• Price-to-rent: 30.9×

Monthly cashflow live

• Estimated rent: $9,985 medium
• Mortgage (P&I): −$4,849
• Tax est. 1.5%: −$1,156 /mo · $13,869/yr
• Insurance: −$385
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,097
• Net cashflow: $1,498

Break-even live

Break-even rent $8,088

Max offer price $924,599

Occupancy floor 80%

Sensitivity live

Price	-10% $2,137	-5% $1,818	+0% $1,498	+5% $1,179	+10% $859
Rent	-10% $710	-5% $1,104	+0% $1,498	+5% $1,893	+10% $2,287
Rate	-1.0pp $1,964	-0.5pp $1,734	base $1,498	+0.5pp $1,259	+1.0pp $1,015

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	9	$9,984
Total (4 units)			$9,985

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: $231,150
• Closing costs: $27,738
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   price $924,599 Active 6 DOM
2. 2026-06-18
   days on market $1,000,000 Active 6 DOM
3. 2026-06-17
   days on market $1,000,000 Active 5 DOM
4. 2026-06-16
   days on market $1,000,000 Active 4 DOM
5. 2026-06-15
   days on market $1,000,000 Active 3 DOM
6. 2026-06-13
   pricedays on marketlisting id $1,000,000 Active 1 DOM
7. 2026-06-03
   days on market $925,000 Active 146 DOM
8. 2026-06-01
   days on market $925,000 Active 144 DOM
9. 2026-05-31
   days on market $925,000 Active 143 DOM
10. 2026-01-08
    listed $925,000 Active
11. 2018-10-09
    soldstatus $435,000 Closed 412-char remark

    Show marketing remark (412 chars)

    LOCATION!LOCATION!LOCATION! TURN KEY 4 UNITS APARTMEMNT COMPLEX WITH IN HOUSE LAUNDRY ROOM AND SEPERATE STORAGE ROOM. ALL HAVE SEPERATE ELECTRIC METERS, ALL UNITS WITH CENTRAL AIRCONDITIONERS, SEPERATE OUTSIDE SITTING AREA, ASSIGNED OFF STREET PARKING. UPDATED UNITS WITH LONG TERM TENANTS.SELLER WILL CONSIDER FINANCING PLEASE CONTACT ME FOR MORE DETAILS. 24 HOURS NOTICE TO SHOW. PLEASE DO NOT DISTURB TENANTS.

12. 2018-09-10
    historical Contingent 412-char remark

    Show marketing remark (412 chars)

    LOCATION!LOCATION!LOCATION! TURN KEY 4 UNITS APARTMEMNT COMPLEX WITH IN HOUSE LAUNDRY ROOM AND SEPERATE STORAGE ROOM. ALL HAVE SEPERATE ELECTRIC METERS, ALL UNITS WITH CENTRAL AIRCONDITIONERS, SEPERATE OUTSIDE SITTING AREA, ASSIGNED OFF STREET PARKING. UPDATED UNITS WITH LONG TERM TENANTS.SELLER WILL CONSIDER FINANCING PLEASE CONTACT ME FOR MORE DETAILS. 24 HOURS NOTICE TO SHOW. PLEASE DO NOT DISTURB TENANTS.

13. 2018-08-27
    listed $440,000 Active 412-char remark

    Show marketing remark (412 chars)

    LOCATION!LOCATION!LOCATION! TURN KEY 4 UNITS APARTMEMNT COMPLEX WITH IN HOUSE LAUNDRY ROOM AND SEPERATE STORAGE ROOM. ALL HAVE SEPERATE ELECTRIC METERS, ALL UNITS WITH CENTRAL AIRCONDITIONERS, SEPERATE OUTSIDE SITTING AREA, ASSIGNED OFF STREET PARKING. UPDATED UNITS WITH LONG TERM TENANTS.SELLER WILL CONSIDER FINANCING PLEASE CONTACT ME FOR MORE DETAILS. 24 HOURS NOTICE TO SHOW. PLEASE DO NOT DISTURB TENANTS.

ⓘ 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 ≥105°F today · 27 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $119,820
• − Mortgage interest: −$51,792
• − Property taxes: −$13,869
• − Insurance: −$4,623
• − Repairs & maintenance: −$9,586
• − Management: −$9,586
• − Depreciation: −$26,897
• Taxable income: $3,467
• Est. tax owed @ 24.0%: −$832
• After-tax cash flow: $17,149/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 Worth Beach

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Lake Worth Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 129,577
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 37,795
• Household income: $62,090
• Rent vs Own: 55.6% rent · 44.4% own
• Severe rent burden: 2429.0

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 0.64)
• Race & ethnicity: Hispanic / Latino 49% White 30% Two or more races 21% Black 17%
• Hispanic origin (detail): Mexican 5% Puerto Rican 5% Cuban 5% Dominican 2%
• Common ancestry: Hispanic 8% Lithuanian 2% Slovak 1%
• Foreign-born: 40% · Canada, Jamaica
• Languages at home: 44% English-only · Spanish 42% French/Haitian/Cajun 9% Other Indo-European 2%

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: ▼ -345.65%
• Current HPI: 484.2793
• Rent YoY: ▲ 3.53%
• 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

+110.2% since first listed

4 events — show timeline

• 2026-01-08 Listed $925,000 MARMLS
• 2018-10-09 Sold (MLS) $435,000 Beaches MLS
• 2018-09-10 Contingent — Beaches MLS
• 2018-08-27 Listed $440,000 Beaches MLS