Duplex with Individual Utility
For Sale
$450,000
1017 13th Street, West Palm Beach, FL 33401
MULTI_FAMILY - West Palm Beach, FL
Property Size1,344 SF
Lot Size0.15 Acres
Price / SF$334.82
Days on Market178
Property Features for 1017 13th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MF14(c
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 3
Window features
Blinds
Fencing
Fenced
Subdivision
FRESHWATER 11TH & 12TH AVE ADD
Lot features
Fruit Tree(s), Sidewalks
Elementary school
Pleasant City
Middle school
Roosevelt Community
High school
Palm Beach Lakes
Directions
GPS
Standard status
Active
APN
74434316020360100
Size
1,344 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FRESHWATER 11TH & 12TH AVE ADD LT 10 BLK 36
Tax Annual Amount
5951
Legal Description
FRESHWATER 11TH & 12TH AVE ADD LT 10 BLK 36
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
individual water/electric meters
washer/dryer utility closets
Building Details
Year built
1966
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic
Building materials
CBS
Roof type
Composition, Tar/Gravel
Listing Agency:
VantaSure Realty LLC
(954) 461-5734
Listed By:
Mark A Doring · License #3093883
(561) 929-0428
Added: Feb 13
Changed: Aug 5
Last Checked: Aug 10 at 2:06PM
MLS# R11163329
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex offers two mirrored 2-bedroom, 1-bath units, each with individual water and electric meters. Both units include their own washer/dryer utility closets, helping streamline day-to-day utility management. The interior features tile-ceramic flooring, and cooling is provided via window and wall/window units. Exterior features include fenced perimeter areas. Constructed with CBS materials and built in 1966, the property is supported by public water and public sewer service.
The duplex is listed in the MF14(c zoning designation. The roof systems include tar/gravel and composition roofing materials, and cable service is available.
With a compact footprint of 1,344 square feet on a 0.15-acre lot, this property is configured as a two-unit residential income asset with independent utility metering for each unit.
The duplex is listed in the MF14(c zoning designation. The roof systems include tar/gravel and composition roofing materials, and cable service is available.
With a compact footprint of 1,344 square feet on a 0.15-acre lot, this property is configured as a two-unit residential income asset with independent utility metering for each unit.
Key Highlights
- Two mirrored 2‑bedroom, 1‑bath units
- Individual water and electric meters for each unit
- Washer/dryer utility closets included per unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,151
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$503,020
$503.0K
Cap Rate 7%
$359,300
$359.3K
Cap Rate 9%
$279,456
$279.5K
Market Conditions
NOI Build-Up for 1,344 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.9K $28.20/SF
− Vacancy
−$2.0K −$1.47/SF
EGI
$35.9K $26.73/SF
− OpEx
−$10.8K −$8.02/SF
NOI
$25.2K $18.71/SF
Area
West Palm Beach, FL
Vacancy
5.20%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$503,020
Cap Rate 7%
$359,300
Cap Rate 9%
$279,456
Alternative Uses
Best Use
Multifamily LT 5
$359.3K
$314.4K – $419.2K
NOI $25,151 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$334.2K
$292.4K – $389.9K
NOI $23,392 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$946.5K
$828.2K – $1.10M
NOI $66,256 @ 7.0% cap · market cap 14.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,184
Businesses Nearby
Explore this area
Business Placement
Demographics for 33401, FL
31,302
Population
19,051
Households
1.6
Avg Household Size
40
Median Age
42%
College-Educated
89%
High-School Grad
5.1 sq mi
ZIP Area
6,138
Density / Sq Mi
$60,942
Median Household Income
$39,932
Median Earnings
$1,774
Median Rent
$430,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex zoned MF14(c with individual water and electric meters, plus washer/dryer utility closets for each unit.
Where is this duplex located?
The property is located at 1017 13th Street West Palm Beach, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two mirrored 2‑bedroom, 1‑bath units; Individual water and electric meters for each unit; Washer/dryer utility closets included per unit
